Upright has introduced debt service coverage ratio rental loans available to real estate investors. DSCR is a measure of the cash flow available to pay back debts. A DSCR loan is a non-QM loan available to investors that allows lenders to judge qualifications without verifying personal income by focusing on rental income. “Many customers at…
Investors are backing away from the home purchase market as price appreciation continues to cool. Investor home purchases declined 45.8% YOY in Q4 2022, according to a new Redfin analysis of 40 U.S. metros. This is a record drop, besting 2008’s 45.1% dip during the subprime mortgage crisis. Quarter-over-quarter, investment purchases fell 27%, the largest…
Home price growth cooled again in September, increasing only 11.4%, according to CoreLogic’s Home Price Index. This is the fifth month of lower YOY growth. Two-thirds of American metros saw at least some month-over-month declines as well, contributing to a 0.5% national decrease from August. Southeastern states continued to see higher price appreciation than other…
Home flipping profits fell across the country in 2021 despite a surge in the number of houses flipped, according to ATTOM Data Solution’s 2021 U.S. Home Flipping Report. The number of single-family homes and condos flipped in 2021 was 323,465, up from 257,091 in 2020 (+26%). This is the largest number of flips since nearly…
Demand for vacation homes has cooled down after skyrocketing to near-record levels in January, Redfin reported. February saw second home demand reach its lowest level since May 2020 as mortgage rates continued climbing, only 35% above pre-pandemic levels. Rates declined for a few weeks due to uncertainty surrounding Russia’s invasion of Ukraine, but started inching…
Homebuyers who offered all cash won more bidding wars in 2021, making it the most effective strategy to beat out other buyers, according to a new Redfin report. Waiving the financing contingency and conducting a pre-inspection also increased potential buyers’ chances when facing off with other bidders, making them 31% and 25% more likely to…
By DOUG OHLEMEIER Despite many employees working from home and companies adopting hybrid work models, investors are still attracted to the land of cubicles. While office suites aren’t as packed with workers as before the pandemic, the commercial market remains strong. “There is investor interest in office properties,” said Stephen Newbold, National Director in the…
Real estate investors bought 80,293 properties in Q4 2021, a record 18.4% of homes sold. Redfin reported that investor purchases were up from 43.9% YOY, though they fell 9.1% from Q3’s peak, likely due to stock shortages that impacted regular homebuyers and investors alike. Seasonality also contributed to the quarter-to-quarter drop, as the housing market…
SFRhub.com has signed a Memorandum of Understanding with Altisource, with the goal of creating an online marketplace for SFR and BFR properties. The collaboration is intended to give SFRhub.com, a real estate investment platform specializing in single-family residential (SFR) and Build-For-Rent (BFR) investment portfolios, a “one-stop” platform for investors to buy and sell homes. Altisource,…
Strong demand and the labor market are fueling single-family rent price increases which remain at record highs. September data from CoreLogic’s Single-Family Rent Index shows rents increased 10.2% year-over-year (YOY), compared to a 2.6% YOY increase in September 2020. Rents increased across all four tiers of rental prices used by CoreLogic. Lower-priced rentals (less than…
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