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☆ A Navy officer explains how she built a $1 million real estate portfolio with $14,000 — and shares 5 ways that anyone can start buying property with little or no money down
▼ + stars: | 2023-01-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

Before purchasing her first property, Snider had been living in military-base housing and wanted her own space. However, she was able to use a VA Loan, backed by the Department of Veteran Affairs, for her first purchase, which required no money down. Her new monthly mortgage payment would amount to $1,600, plus utilities which were about $150 to $200 a month. "I realized, oh well, I got this asset for free and now somebody's paying my rent," Snider said. Altogether, the three properties Snider now owns add up to a total value of $1.1 million, according to Zestimate.

☆ China keeps benchmark lending rates steady for fifth month
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Jan 20 (Reuters) - China kept benchmark lending rates unchanged for a fifth month on Friday, as expected, but analysts say future cuts are possible as the central bank has pledged to support the COVID-ravaged economy. The one-year loan prime rate (LPR) - on which most new and outstanding loans are based - was left at 3.65%. China's economy grew just 3% in 2022, far below the official target, while the government's abrupt end to its zero-COVID policy has fanned hopes of a robust recovery. It also came after China this month established a dynamic adjustment mechanism on mortgage rates for first-time home buyers. The LPRs are calculated each month after 18 designated commercial banks submit quotes to the National Interbank Funding Center, a PBOC affiliate.

☆ Real estate remain's a sellers' market, says Realtor.com's Danielle Hale
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReal estate remain's a sellers' market, says Realtor.com's Danielle HaleCNBC's Diana Olick with Realtor.com's Danielle Hale join 'The Exchange' to discuss an uptick in first time home buyers, rising all cash sales, and the prices of million dollar homes dropping off most.

☆ China seen keeping benchmark lending rates unchanged for fifth month
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Jan 19 (Reuters) - China is expected to keep benchmark lending rates unchanged for a fifth month in January, a Reuters survey showed, although analysts think cuts next month are probable after the central bank pledged steps to boost a COVID-ravaged economy. The one-year LPR currently stands at 3.65%, while the five-year LPR is 4.30%. Eleven respondents forecast a cut to the five-year LPR while seeing no change to the one-year tenor. Only one respondent predicted a cut to the one-year LPR. The LPR is calculated each month after 18 designated commercial banks submit quotes to the National Interbank Funding Center, a PBOC affiliate.

☆ Mortgage rates fall to levels last seen in September
▼ + stars: | 2023-01-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

“As inflation continues to moderate, mortgage rates declined again this week,” said Sam Khater, Freddie Mac’s chief economist. But mortgage rates dropped in November and December, following data that showed inflation may have finally reached its peak. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “While our 2023 forecast anticipates ongoing inflation causing upward pressure on rates, recent favorable data has helped to pull mortgage rates down,” said Xu.

☆ A former equities trader who now invests in real estate full-time and cash flows $45,000 per month explains why 'the risk-reward is much more attractive on real estate than stocks'
▼ + stars: | 2023-01-19 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

He believes that real estate is much better from a risk-reward standpoint than stocks. With real estate, there are four ways to make money, including cash flow and levered appreciation. "And I'm supremely confident that real estate is much better from a risk-reward standpoint than stocks. And he's only doubled down on the investment, he added: More than 80% of his current net worth is invested in real estate. Plus, he manages two funds that invest in commercial real estate, both of which he owns a piece of.

☆ Homebuilder confidence rises for the first time in a year
▼ + stars: | 2023-01-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —A modest drop in mortgage rates over the past month has helped home builder confidence improve in January, after 12 consecutive months of falling, according to a survey released Wednesday. Experts say that could mean new home building is set for a pivot as construction prospects improve. All three metrics rose in January, marking the first improvement in builder sentiment since December 2021. The survey found home builders’ confidence rose this month from its December level, which was the lowest sentiment level since 2012 — aside from the immediate onset of the pandemic. “In the coming quarters, single-family home building will rise off of cycle lows as mortgage rates are expected to trend lower and boost housing affordability,” he said.

☆ Homebuilders may finally be turning a corner as inflation stabilizes and lower mortgage rates bring buyers back into the market
▼ + stars: | 2023-01-18 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

This led to a downturn in the US housing market as housing activity dramatically faded. But, as inflation slows and interest rates fall, an economist says that the US housing market may get back on track in 2023. Sam Khater, the chief economist at Freddie Mac, also expects lower inflation to entice more Americans to return to the housing market — especially millennials. "While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023," Khater said in a January mortgage report. Indeed, lower mortgage rates are already reviving interest from potential home buyers.

☆ New York City’s Luxury Apartment Market Under Pressure in 2023
▼ + stars: | 2023-01-17 | by ( Kate King | ) www.wsj.com time to read: 1 min

New York City’s luxury residential market faces numerous obstacles at the start of 2023, ranging from high interest rates to signs of a disappointing bonus season on Wall Street. Sales of the city’s most expensive apartments slowed in the second half of last year, and brokers and analysts said they don’t expect a turnaround soon as the prospect of an economic slowdown pinches even the most affluent home buyers.

☆ Asking prices for UK homes rise after "mini-budget" shock, Rightmove says
▼ + stars: | 2023-01-16 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, Jan 16 (Reuters) - Asking prices for British homes rose for the first time in two months as the housing market showed signs of calming after the turmoil triggered by former prime minister Liz Truss's "mini-budget", property website Rightmove (RMV.L) said on Monday. Asking prices for residential properties increased by 0.9%, or 3,301 pounds ($4,032.50) in the Dec. 4-Jan. 7 period from a month earlier, after a 2.1% fall over the previous month, Rightmove said. However, average asking prices were still 2% below their October 2022 peak. Two- and five-year fixed rates have fallen for a second month to 5.8% and 5.6% respectively, according to data from website Moneyfacts. In annual terms, property prices rose 6.3% in January, up from a rise of 5.6% the month before.

☆ China's Dec home prices fall, more supportive policies likely
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +3 min

Analysts say the property sector is showing signs of recovery, but it remains uneven and more supportive policies are needed to revive sentiment in the battered market. From a year earlier, prices fell for the eighth month in a row, dropping 1.5% from a 1.6% slump in November. Prices in tier-one cities remained unchanged from a month earlier in December from a decline of 0.2% in November. To relax restrictions on borrowing for property developers, regulators will improve the "three red lines" rule for 30 pilot firms, state media Xinhua reported last week. The policy restricts the amount of new borrowing property developers can raise each year by placing caps on their debt ratios.

☆ 10 cities where home buyers actually have a chance of scoring an affordable home in 2023
▼ + stars: | 2023-01-15 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

Realtor.com has ranked the top places where homebuyers can still get a good deal in 2023. That wouldn't be surprising considering that US housing affordability fell to a 10-year low, the National Association of Home Builders announced in November. At a time where the typical home is priced near $400,000, a good indicator of a housing market's health is the balance between home sales and price growth. However, just because a city may be relatively affordable compared to others doesn't mean that it's the perfect fit for everyone. When buying a home it's also important to consider the cost of living, as well as access to jobs, schools, healthcare and food.

ON THE Treasure Coast north of West Palm Beach, it’s not just shell art and shopping-for-oranges anymore. The diverse stretch is a local secret for boaters and those seeking a full-stop Old Florida vacation but also for a new wave of home buyers. A traditionally sleepy region, it gets its name from a Danae’s-shower of Spanish gold that pelted the beaches in the 1700s when a fleet of galleons was lost in a hurricane.

Jan 12 (Reuters) - City National Bank, a unit of Royal Bank of Canada (RY.TO), agreed to commit more than $31 million to boost lending to Black and Hispanic home buyers in the Los Angeles area, in the U.S. Department of Justice's largest settlement over illegal redlining. The Justice Department accused City National of violating the federal Fair Housing Act by having "avoided" serving majority-Black and majority-Hispanic neighborhoods in the Los Angeles area between 2017 and 2020. The bank will also improve training, spend at least $1.75 million on advertising, community programs and financial education, and set up a fair lending oversight committee. Garland said the Justice Department is trying to vigorously enforce fair lending laws and ensure that lenders "provide equal opportunity for every American to obtain credit. City National, with $95.3 billion of assets, denied wrongdoing, but said it settled to avoid prolonged litigation.

☆ First-time homebuyers are pretty much screwed in 2023
▼ + stars: | 2023-01-12 | by ( Alcynna Lloyd | Andy Kiersz | ) www.businessinsider.com time to read: +4 min

Starter homes are typically more affordable houses that are purchased by new home buyers. Their absence has made it difficult for many first-time buyers to afford homeownership. The stark indicator only illustrates that starter homes are vanishing from the US real-estate market. Starter homes are typically smaller, more affordable houses that are purchased by first-time buyers or those on a tight budget. With higher home prices, mortgage rates and property taxes, as well as a possible recession looming in 2023 — that could trigger mass job losses — the odds are stacked against many would-be first-time buyers.

The “three red lines” policy on debt ratios has begun aggravating market stress and impairing balance sheets. Those on the wrong side of those lines found themselves almost entirely locked out of credit markets. In short there are now more property firms on the wrong side of the red lines than when the policy was first rolled out, and even the most financially healthy are struggling. They are also mulling letting companies in good financial condition raise debt by more than the current 15% annual limit, per Bloomberg. However, the three red lines remain in place for now.

☆ Pitch Decks That Advertising Tech Startups Used to Raise Millions
▼ + stars: | 2023-01-10 | by ( Business Insider | ) www.businessinsider.com time to read: +19 min

Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.

☆ Bank of America double upgrades Zillow, says stock can rise 20% on improved growth outlook
▼ + stars: | 2023-01-09 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Zillow Group could be on the verge of a strong year, according to Bank of America. Shares of Zillow have underperformed the last two years, with the stock price roughly halving in 2022, and tumbling by 54% the prior year. What's more, the analyst said that several large initiatives could reaccelerate growth at Zillow. The analyst's $42 price target, up from $22, implies more than 20% upside for the stock. Shares were up more than 4% in Monday premarket trading.

☆ Financing for Chinese real estate firms jumps 33% year-on-year in December
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Jan 8 (Reuters) - Chinese property companies raised a total of 101.8 billion yuan ($14.9 billion) in December, up 33.4% year on year, driven by more state support for the highly indebted sector, according to market researcher CRIC. The figure for the year 2022 was 824 billion yuan, decreasing by 38% year over year, it said. China is also planning to relax restrictions on borrowing for property developers by dialing back the "three red lines" policy, Bloomberg News reported on Friday. Lockdowns and movement control measures to control the spread of COVID-19 also hurt buyer sentiment. ($1 = 6.8370 Chinese yuan renminbi)Reporting by Yingzhi Yang and Brenda Goh Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ China property shares rise on easing of mortgage rules for some buyers
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Jan 6 (Reuters) - Shares of Chinese property developers climbed on Friday, lifted by more state support measures to bolster the highly indebted sector as China prepares to reopen its pandemic-hit economy. The property sector, which accounts for a quarter of China's massive economy, was badly hit last year after developers were unable to finish building projects that led to mortgage boycotts by some home buyers. Lockdowns and movement control measures to control the spread of COVID-19 also hurt buyer sentiment. The housing authorities also vowed to give strong support to first-time home buyers by allowing smaller down payments and cutting mortgage interest rates. Reporting by Clare Jim and Donny Kwok; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Oil prices rise $1 on China's reopening optimism
▼ + stars: | 2023-01-06 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

Brent crude futures were 94 cents, or 1.2%, higher at $79.63 a barrel at 0345 GMT, after settling 85 cents stronger at $78.69 on Thursday. U.S. West Texas Intermediate crude futures were up 91 cents, or 1.2%, at $74.58 a barrel. However, oil prices were on track to end the week lower, with both contracts down around 7% on a week earlier. "China's reopening optimism, especially further stimulus measures to boost the property sector, is the main bullish factor for the oil prices, which has improved the demand outlook in the near year," said Tina Teng, an analyst at CMC Markets. China, the world's largest crude oil importer, has abruptly ended its stringent zero-COVID policy, leading to a surge in COVID infections across the country.

☆ China establishes mortgage rate adjustment mechanism for some home buyers
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Jan 5 (Reuters) - China's central bank and the banking and insurance regulator have established a dynamic adjustment mechanism on mortgage rates for first-time home buyers, the central bank said on Thursday, in a bid to further support the property sector. The crisis in China's property market, once a pillar of the world's second-biggest economy, worsened last summer with home prices, sales and investment all falling sharply. According to analysts' calculation, 38 cities are eligible for adjustable mortgage rate floors, including some second-tier cities such as Wuhan and Zhengzhou and more than 20 smaller cities. Analysts said the move shows the government's growing intent to support demand in weak cities, but added the impact may be limited. "Lowering mortgage rates has not been able to drive sales.

☆ Homebuyers will be able to get bigger mortgages in 2023 but it could be a bad idea for Americans to stretch their budgets too far
▼ + stars: | 2023-01-05 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

The Federal Housing Finance Agency raised its conforming loan limit values for mortgages in 2023. In most of the US, the agency raised the conforming loan value from $647,200 to $726,200. However, updates from The Federal Housing Finance Agency, which has increased its conforming loan limit values for Fannie Mae and Freddie Mac mortgages in 2023, will likely change the equation for many homebuyers. However, in high-cost areas of the country, such as New York City or San Francisco, the loan limit ceiling has been changed to $1,089,300. Higher loan limits are a double edged sword for first-time buyersCohn is not alone in her thinking.

☆ An increasing number of lawsuits are being filed against real estate agents as home prices continue to fall across the US
▼ + stars: | 2023-01-05 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

Lawsuits against real estate professionals increased 9% between 2021 and 2022 as home prices declined. Zach Vollmer, SVP of Real Estate at Victor Insurance Managers, expects the total to increase in 2023. Vollmer added that lawsuits targeting real estate professionals are common when home prices fall. The increasing frequency of lawsuits coincides with a slew of predictions from real estate experts who expect home prices to continue to decrease in 2023. In most cases, Vollmer said the lawsuits contain allegations that seek to trigger reimbursements under a real estate professional's liability insurance policy.

☆ The president of a real-estate firm shares her predictions for mortgage rates in 2023, price corrections by region, and the type of properties that will be most in demand
▼ + stars: | 2023-01-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Mortgage rates more than doubled from where they were in January 2021. Mortgage rates more than doubled from where they were in January 2021 when the 30-year fixed rate hit a record low of 2.65%. Suzanne Miller, the founder and CEO of Empire State Properties, says today's mortgage rate doesn't alarm her. She estimates that mortgage rates may settle at around 7% this year. Eventually, they will also jump back into the market once they acclimate to the new normal in mortgage rates.

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