Monthly Archives: August 2016

Tax business with acquisitions

Precedent said that the deal will help the company “gain traction” in the real estate component servicing space.

“The acquisition has been a natural transition for our team,” said Amy Sanchez, Precedent Management’s co-CEO.

“We were able to retain key executives and associates, proprietary technology and gain significant market share,” Sanchez added. “All of which contributes to our overall goal of offering comprehensive HOA, tax and utility solutions for mortgage servicers, lenders and agencies nationwide.”

Rob DeWald, Precedent’s other co-CEO, said that the company is looking to the future.

“We are excited to expand our product lines using the acquisition of technology rights as a basis to develop and offer new and innovative lien curative solutions for our clients,” DeWald said. “Keeping our client’s position in first place is our ultimate priority.”

Detroit Police spokesman Dan Donakowski said officers were called to the location after the body was discovered. The home, he said, was being rented to a family and did not use the garage.

The potential homeowner “opened up the car door and observed this decomposed body inside,” Donakowski said. “We talked to the current tenants of that location and they were told that the actual homeowners had said basically don’t go in the garage, don’t put anything in the garage.”

 

The news is a reminder of a story back in September 2015 of a home in San Francisco that sold for $1.56 million. So what’s the catch? Just a few months before, a mummified corpse of the homeowner was found in the house. Apparently the homeowner’s daughter was living in the house and was a hoarder. But the shocking news didn’t keep buyers away from the home.

Find mummified body in Detroit

The case is currently under investigation by the Detroit Police.

So how did the human remains go unnoticed for so long?

According to the original report by The Detroit News:

Detroit Police spokesman Dan Donakowski said officers were called to the location after the body was discovered. The home, he said, was being rented to a family and did not use the garage.

The potential homeowner “opened up the car door and observed this decomposed body inside,” Donakowski said. “We talked to the current tenants of that location and they were told that the actual homeowners had said basically don’t go in the garage, don’t put anything in the garage.”

 

The news is a reminder of a story back in September 2015 of a home in San Francisco that sold for $1.56 million. So what’s the catch? Just a few months before, a mummified corpse of the homeowner was found in the house. Apparently the homeowner’s daughter was living in the house and was a hoarder. But the shocking news didn’t keep buyers away from the home.

Rubin’s account may seem to some the rants of a disgruntled former employee; we all have our share of those. There is no doubt in my mind the CFPB is staffed with primarily able-bodied regulators who make prudent decisions on a daily basis — with the vision of leaving the American consumer with more protection tomorrow than today.

So it’s not the starting point that’s the problem, it is the CFPB as a means to an end. And if that continues to operate outside additional checks and balances, then the due process of the law will continue to be pushed aside to achieve the wrong kind of vision under a masquerade of consumer protection.

The CFPB needs reminding that in order to be needed one should behave with necessity. Until that day, the complaints of the mortgage industry should not be disregarded; we are in this too.

New way to search for houses

Buyers tell Alexa what kind of home they want — size, price, location, etc. — instead of scrolling through listings on a smartphone, tablet or laptop. Alexa asks questions to narrow down the search and responds to commands.

 

“It’s a conversational search,” Berger said. “That’s a huge difference.”

Zillow’s report shows that housing stock showed an increase of $1.6 trillion from 2015, a 5.7% increase in value to reach that record level.

That increase also means that the U.S. housing market has now regained all of the value that was lost during and after the housing crisis.

According to the report, the cumulative value of all homes in the U.S. declined by $6.4 trillion from 2006 to 2012 as the housing market collapsed.

But now, all of that value has been gained back.

It’s important to note that Zillow’s report is a national total of housing values. As the report shows, there are more than a few markets where housing values have not completely recovered from the crisis yet.

In fact, according to Zillow’s report, there are several markets that are now more valuable than they were at the height of the housing bubble, but roughly 60% of the markets in the U.S. are still below the maximum values reached during the bubble years.

As an example, the Chicago market is still approximately $134 billion below the highest value it reached in 2006.

According to Zillow’s report, the Los Angeles and New York metro areas have the highest shares of the country’s overall housing value, at 8.6% and 8%, respectively.

San Francisco checks in at third on that list, with Bay Area housing carrying 4.2% of the nation’s overall housing value.

As Zillow notes in its report, while the record high in U.S. housing value shows that the housing market is still moving in the right direction, the increase in value could also price more prospective buyers out of the market.

“Housing is incredibly important to us personally and to the economy as a whole,” said Zillow Chief Economist Svenja Gudell.

“The U.S. housing stock is worth more than ever, which is a sign of the ongoing housing recovery,” Gudell added.

“As buying a home gets more expensive, affordability remains a concern for many, and these numbers highlight just how much people are spending on housing,” Gudell said. “The total value of the housing stock grew nearly 6% this year, a pace that will likely mean some American families are priced out of homeownership.”

And many of those families that are priced out of homeownership end up turning to renting to put a roof over their family’s heads, as Zillow’s report also shows.

According to data analyzed by Zillow, in 2016, renters in this country paid $478.5 billion in rent, which represents a $17.7 billion increase from 2015.