Share of SFR Built-for-Rent Homes Remains Low

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Built-for-rent homes Census Bureau NAHB Single-Family Rentals 2015-11-23 Brian Honea About Author: Xhevrije West Tagged with: Built-for-rent homes Census Bureau NAHB Single-Family Rentals The Best Markets For Residential Property Investors 2 days ago Share Save Single-family homes that are built and held for rental purposes are just one small piece to a much larger picture of the housing market.Construction in this sector has risen significantly over the last year, but caution must be taken when looking at trends in the single-family rental (SFR) market as starts are still disappointing.Housing starts among single-family homes built-for-rent increased to approximately 9,000 for the third quarter of 2015, up from about 7,000 during the third quarter of 2014, data from the U.S. Census Bureau’s Quarterly Starts and Completions by Purpose and Design and National Association of Home Builders (NAHB) analysis showed.“The single-family built-for-rent market is a small portion of the total market, so care must be taken when identifying trends,” NAHB stated.The single-family homes built-for-rent market share on a one-year moving average is at 3.9 percent of total single-family starts for the third quarter of 2015, the reports found. The 3.9 percent share is higher than the historical average of 2.7 percent, but much lower than the high of 5.8 percent in early 2013.Although this market has seen substantial growth, single-family starts built-for-rent remain on the low side at 28,000 homes started during the last four quarters, the NAHB says.A confluence of factors has created the “perfect storm” for sustained growth in the single-family rental market, according to one expert in the Securities Lab of the Inaugural Five Star Institute Single-Family Rental Summit in Las Vegas in October.Those factors include higher mortgage rates, tightening credit standards, rising home prices, an increased number of rental options, ever-increasing student loan debt, and the number of household formations to building permits combined with declines in income growth, distressed sales, personal savings rate, and the overall desire to earn a home, said Chris Crippen, managing director for US Residential Asset Fund.”This is all leading to the perfect storm for sustained growth,” said Crippen, who has worked as an analyst, asset manager, and executive for Wall Street REITs, the FDIC, and Fannie Mae before founding US Residential Asset Fund in 2010. “At the FDIC in 2007 and 2008, the question was ‘How long will REOs last?’ Then all the REO agents went into the investment space. How long will that last? Who knows. We’re in an artificially suppressed interest rate environment right now. Trends are good. We’re in a perfect storm for sustained growth. I could say for the next five years all looks great and we’ll check back then. If I had to put a number on it now I’d say we’re in the third inning. It’s not too late to get in.”Rental rates and income yields continue to rise in the single-family rental market, affecting how real estate investors target purchase opportunities and how much landlords make on average. RentRange, a provider of rental market intelligence, recently released data which helps investors define and uncover opportunities nationwide.The Cape Coral, Florida metro came in first on the list with the largest change in third quarter rent year-over-year at 23.6 percent and an average yield of 9.1 percent. Sacramento, California (17.6 percent/6.6 percent); North Port, Florida (17.2 percent/9.7 percent); San Francisco, California (17.0 percent/5.6 percent); and Charleston, South Carolina (16.5 percent/9.0 percent) wrapped up the top five.“We continue to see substantial opportunity in real estate investing, but strengthening real estate markets in many regions require investors to be more informed before buying an investment property and rehabilitating it in order to achieve their desired return ,” said Walter Charnoff, CEO of RentRange and Investability. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Institutional Investors Slightly Less Active Next: Whistleblower Attempts to Revive RMBS Suit Against Wells Fargo November 23, 2015 1,579 Views Share of SFR Built-for-Rent Homes Remains Low Home / Daily Dose / Share of SFR Built-for-Rent Homes Remains Low Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Related Articles in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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Bullets Over Broadway Star Zach Braff Has a Sundance Hit With Wish I Was Here

first_img Bullets Over Broadway Related Shows Braff previously wrote and directed the 2004 feature film Garden State, which won the Independent Spirit Award for Best First Feature and a Grammy Award for its kick-ass soundtrack. He also wrote the play All New People, which premiered off-Broadway at Second Stage Theatre in 2011. Written with his brother, Adam Braff, Wish I Was Here stars Braff as a struggling L.A. actor, with Kate Hudson as his wife, Gad as his brother and Patinkin as his estranged, ailing father. The film was funded via a Kickstarter campaign which earned $3.1 million from fans, well over its $2 million goal. View Commentscenter_img While he’s making his Broadway debut as the lead of Bullets Over Broadway, Zach Braff will also be prepping his newest film Wish I Was Here for release. The drama, featuring stage stars like Mandy Patinkin and Josh Gad, has just been purchased by Focus Features for $2.75 million following a debut at the Sundance Film Festival. Braff will start singing and dancing in Bullets Over Broadway on March 11 at the St. James Theatre. Show Closed This production ended its run on Aug. 24, 2014last_img read more

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Steuben County reports 7 additional COVID-19 cases

first_imgThe Steuben County Health Department says that one or more of the infected individuals are connected to previously reported cases. The health department says all individuals are being quarantined and monitored by the health department.  For the latest Steuben County updates, visit Steuben County’s website or social media pages: www.facebook.com/SCNYPublicHealth and www.instagram.com/SteubenPublicHealth. For more coronavirus coverage, click here. April 1 or April 2 – Post Office in Bath April 1 – Burger King drive-through in Corning April 1 – Rite Aid in Bath April 1 – Save a Lot in Bath April 2 – Kwik Fill in Hammondsport April 6 – Pilot in Kanona April 6 – April 8 – Ready, Set, Grow Child Care Center in CorningApril 7 – 7-Eleven in Corning April 8 – Dunkin Donuts drive-through in Corning April 8 – Traveled from NYC April 8 – Traveled from Queens, NY April 9 – Arby’s drive-through in Bath STEUBEN COUNTY, N.Y. (WBNG) — The Steuben County Health Department gave an update on the coronavirus on Sunday.  Additionally, the health department has provided information regarding exact locations of where individuals tested positive have been. They say this information is collected starting 48 hours before the first symptom. One or more of the individuals reported visiting the following locations: The health department says additional information regarding locations visited while symptomatic was shared by a previously reported positive patient. The health department has reported seven new positive cases of the virus, bringing the total to 154. The health department has provided a list, including where the residents who tested positive live. The individuals are residents of: They also say that management was notified of these cases and closed down their locations to disinfect. April 4 & April 7 – Taco Bell in Hornell Town of BathTown of ErwinTown of Urbana (2) Village of Bath (2)Village of Hammondsportlast_img read more

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Police Investigating the Death of a Man Found Dead in Lewiston Area

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisTroopers and detectives from the Alpena Post are currently investigating a death that occurred in the Lewiston area. 29–Year–Old, Matthew Boeck of Howell was found dead from an apparent gunshot wound.The man was found in the woods in Oscoda County, near Lewiston, Michigan after a call came into the Oscoda Dispatch Center around 11:45 pm Friday night.The Michigan State Police Crime Lab and the Michigan DNR were both on the scene. An autopsy is currently being conducted. WBKB News will keep you updated on this story when we learn more details.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisContinue ReadingPrevious Smithsonian exhibit opens at Alcona County LibraryNext Citizens for Settlement Demand an end to Legal Dispute Between City and Township Over Water and Sewer Rateslast_img read more

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Hanjin Shipping Officially Declared Bankrupt

first_imgImage Courtesy: Pixabay under CC0 Creative Commons license The former South Korean shipping giant Hanjin Shipping was officially declared bankrupt by the Seoul Central District Court on February 17, less than six months after it first filed for court receivership.With this move, made after a two-week period for appeal expired, the company, established in 1977, has ended its 40-year business.A bankruptcy trustee will now be appointed for the sale of Hanjin Shipping’s assets to pay off debts to its creditors, who have a deadline to report their right to claim debts until May 1, according to Yonhap News Agency.At the beginning of February, the Seoul court informed that it would end the company’s rehabilitation process as most of its key assets had been sold. The company’s remaining assets are now set to be distributed among its creditors.The company succumbed to the prolonged depression in the shipping market and filed for court receivership in late August 2016 after its creditors, led by the state-run Korea Development Bank (KDB), said they would not provide additional financial support to Hanjin starting from September 4.Since then, Hanjin Shipping started selling its assets, including its entire Asia to US route network and operations on the routes, a number of containerships, as well as its overseas businesses.Hanjin’s latest sales include its 54 percent stake in Total Terminals International (TTI), the operator of two facilities in Long Beach and Seattle, which was sold to Swiss-based Mediterranean Shipping Company (MSC) and South Korean Hyundai Merchant Marine (HMM).Earlier this month, the company’s creditor KDB launched sales proceedings for ten Hanjin ships, including two container vessels and eight bulk carriers.The potential buyers have until February 21 to submit their bids.World Maritime News Stafflast_img read more

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