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Key components of the Federal Reserve’s annual stress tests for big banks likely are illegal because they fail to comply with the Administrative Procedure Act of 1946, according to a white paper released Sept. 15 by the Committee on Capital Markets Regulation, a nonprofit comprised of banking executives.
An industry coalition led by the Real Estate Roundtable submitted on Sept. 6 a comment letter to the Appraisal Practices Board stating their concerns about its first draft of the “voluntary” guideline “Valuation of Green and High Performance Property: Commercial, Multifamily and Institutional Properties.”
Wells Fargo took the top spot on the Mortgage Bankers Association’s mid-year list of high-volume multifamily and commercial mortgage servicers, the organization announced Sept. 1. The bank reported $502.2 billion in master and primary servicing. Rounding out the top five servicers are PNC, Berkadia Commercial Mortgage, KeyBank and CBRE.
Building in the suburbs is a more effective way to provide affordable housing than erecting tall city towers, according to research from BuildZoom, a website for contractors, MarketWatch reported Sept. 14. Tall buildings are more expensive to build than single-family homes, and apartments and condos tend to be pricier.
Competitive loan rates led to an increase in home flipping during the second quarter, up 14 percent from the previous quarter and up 3 percent from one year ago, analytics firm RealtyTrac reported Sept. 13 in its U.S. Home Flipping Report.
Many renters and current homeowners believe that now is not a good time to buy a home, with only 60 percent of renters and 78 percent of homeowners saying the timing is right, the National Association of Realtors reported Sept. 14 in its Housing Opportunities and Market Experience survey.
Average fixed mortgage rates ended an 11-week low-rate trend and reached their highest levels since June during the past week, Freddie Mac reported Sept. 15 in its Primary Mortgage Market Survey.
Despite rising prices, institutional investors continue to buy single-family rentals because the volatile stock market has them wary of other investment options, National Real Estate Investor reported Sept. 12. During the first six months of the year, investors accounted for 2.9 percent of all single-family home transactions, up from 2.6 percent last year.
Investors looking for single-family rental properties should focus on Tampa, Florida, which real estate investment firm HomeUnion rated as the top city for this property type in its Housing Market Power Rankings report. The Sept. 16 report tracks single-family rentals in 31 major metros.
Commercial property prices are growing, bolstered by a 14 percent gain in the multifamily market compared to 5 percent growth for core commercial prices, MBA NewsLink reported Sept. 13. Experts report that cap rates have been mostly flat, which helped property markets find equilibrium.
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