By ERIN FLYNN JAY
As the housing crunch continues throughout the country, some cities are planning for growth when it comes to building homes for average families.
Mark Buskuhl, owner of Ninebird Properties, a Texas-based investment firm, said Dallas is one of the fastest-growing cities in the nation and has been a top destination for families looking to relocate.
“With its booming job market and affordable cost of living, it’s no surprise that Dallas is planning for growth when it comes to building housing for the average American family,” he said.
Buskuhl said the city has implemented initiatives to increase housing options, such as the “GrowSouth” program which focuses on revitalizing and developing housing in southern Dallas. Additionally, the city…
Dave Stein has been named Southeast Divisional Manager of Crown Home Mortgage, the company announced in a press release.
From his home base in Mount Pleasant, South Carolina, Stein will oversee the growth and overall operations of Crown Home in the Southeastern region.
“I am honored to be part of such a reputable organization committed to delivering exceptional mortgage services,” Stein said. “With a branch located in Mount Pleasant, I look forward to serving the local community and working closely with the team to provide the best mortgage solutions.”
Stein brings a wealth of financial industry leadership experience to the position. Prior to Crown Home, he served as EVP of Family First Funding LLC. His other experience includes Chief Operating…
Wilmington, NC-based MC Mortgage Group is joining mortgage platform UMortgage, the company announced.
MC Mortgage serves homebuyers in North and South Carolina. The company was named MPA Top Employer and Lender and Wilmington Cape Fear Home Builder’s Association’s Lender of the Year in 2021.
The company was founded in 2005 by President Patrick Stoy, a seasoned mortgage veteran with nearly 25 years of experience as a broker. He was named a UWM Top 1% Broker and a Top-100 Purchase LO with UWM in 2022. In 2021 he was named Mortgage Professional of the Year by the North Carolina Home Builders Association.
“Being that I’ve been a true independent mortgage broker since 2005, this platform will allow me the opportunity to…
By KIMBERLEY HAAS
Craving some sunshine? You are not alone as the migration to the Sun Belt continues past the pandemic.
Data from U-Haul and North American Van Lines shows that the Carolinas, Florida, and Texas were among the top inbound states for migration last year. That trend is expected to continue.
And as the state of North Carolina sees an influx of new residents, the coastal city of Wilmington has been attracting accolades. It was listed as the second best place to live in North Carolina by Forbes Advisor last fall, coming in after Raleigh, the state’s capital.
In January, the median listing home price in Wilmington was $435,700, trending up 18.1% year-over-year. The median home sold price was…
By KIMBERLEY HAAS Leaders at Lenders One Cooperative are planning to open branch locations at select Walmart stores in seven states. The company, established in 2000, is a national alliance of independent mortgage bankers, banks, and credit unions managed by a subsidiary of Altisource Portfolio Solutions. President Justin Demola said in a recent interview with The Mortgage Note that opening branches inside Walmart stores makes sense for their members and customers who will have access to lending services in the same place they shop. “Walmart is an interesting opportunity for us and our members,” Demola said. “The timing has lined up nicely. This project started almost two years ago when the mortgage market was buzzing. Interest rates were super low…
Habitat for Humanity Affiliates in Florida and South Carolina will be able to build more affordable homes after the recent sale of mortgage notes on their behalf. Leaders at CBC Mortgage Agency, a nationally chartered housing finance agency and a source of down payment assistance for first-time homebuyers, announced its CRA Note Exchange platform had completed the sale on Sept. 12. CRA Note Exchange enables the sale of Community Reinvestment Act-eligible loans through an online portal to free up capital for additional affordable home construction. Banks and other financial institutions can review, select and purchase loans in specific areas that support their CRA or other lending objectives. The exchange was launched in 2018. Habitat for Humanity is a global nonprofit housing organization…
By KIMBERLEY HAAS Officials at the Federal Emergency Management Agency are warning survivors of Hurricane Ian they should be aware of con artists and criminals looking to take advantage of the situation. Predators may promise homeowners a disaster grant in return for payment or fill out an application for assistance without a person’s knowledge, according to the FEMA website. “If a FEMA Inspector comes to your home and you did not submit a FEMA application, your information may have been used without your knowledge to create a FEMA application. If so, please inform the inspector that you did not apply for FEMA assistance so they can submit a request to stop further processing of the application,” the website says. People…
Acting Comptroller of the Currency Michael J. Hsu toured South Carolina’s Lowcountry to gain insight into the financial needs of rural communities on Friday. During the day-long event, Hsu met with local leaders, businesses, and non-profits to discuss how bank partnerships with community development financial institutions and community-focused rural groups support economic development, particularly for communities of color, according to a press release. The South Carolina Association for Community Economic Development hosted the event, which included a visit to The Opportunity Center, an innovative space that provides workforce development, small business incubators, and workspaces for entrepreneurs and start-ups, and houses offices of local non-profits. Hsu’s tour also included visits to small businesses in Hollywood and to an affordable housing developer…
By CHUCK GREEN Now, how about a little, um, pop-up pop quiz? You. Put…the…iPhone….down. Okay, then. What did Marilyn Monroe. Elizabeth Taylor and, oh, say, Tennessee Williams, have in common? Whether compelled by business reasons — or simply because it was how they rolled – the trio lived in hotels. Probably beat the price of real estate. Even back then. Even for them. Seems they were onto something. Today, at least temporarily, a number of individuals – you know, us regular joes – also call hotels or motels la casa. Perhaps they’re working on location for a relatively limited time on a short-term out-of-town job and, given the paucity of housing in many parts of the United States, other accommodations…
U.S. home prices have broken another record: 8% of homes (6 million) are now worth $1 million or more, according to a new report from Redfin. That is nearly double the share from before the pandemic when the share was only 4.8% (3.5 million). The Bay Area has the biggest share of million-dollar homes, with nearly nine out of 10 properties in San Francisco and San Jose making the list. This isn’t surprising given its long history of being the most expensive place to buy a home in the U.S. Anaheim, CA, saw the biggest increase, with its share of million-dollar homes jumping to 55% from 27% two years ago. California dominated the top five, following up with Oakland (55.1%),…
