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Florida affordable housing law that dilutes local power has upset the apple cart

Housing Wire

But some of those local officials are now expressing concern that the provisions of the new law are restricting their ability to more actively participate in development decisions within their communities, according to reporting by WUSF Public Media. “I think the hesitancy comes with the fact that it’s a preemption.

Law 369
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Movement Mortgage invests $200M into charter school network

Housing Wire

Retail lender Movement Mortgage has invested $200 million to expand its nonprofit Movement Foundation , and to accelerate the development of its growing charter school network. The investment will also aide in the development of adjacent affordable housing and health clinics in Central America, the company said in a statement this week.

Investing 393
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2020 Banking and Construction Lending Trends for Minnesota

Simonson Real Estate

It was here that I had the opportunity to moderate the Banking and Construction Lending Update discussion with Patricia Gnetz of U.S. The larger national bank lenders confirmed they are still active in new construction lending and were able to successfully close several pre-construction loans that were in process when COVID-19 started.

Lending 148
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6 Tips for Appraising New Construction Homes

McKissock

New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. Those requirements can make it hard to find other new construction comparables. Learn more.

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Building material prices take their toll on new home sales

Housing Wire

Census Bureau and the Department of Housing and Urban Development. In order to account for uncertain prices and availability of materials, homebuilders are holding off on making homes available until they are further along in the construction process. lower than the revised March rate, according to a joint analysis from the U.S.

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DataDigest: Where renters can actually afford to buy

Housing Wire

In the fourth quarter of 2019, the median renter could afford 69% of the homes for sale in Salt Lake City. According to data from Altos Research , the median home price listed in Salt Lake City last week climbed to $785,000, up from about $540,000 in the fourth quarter of 2019. Now, the median renter can only afford 4% of homes.”

Insurance 382
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Existing home sales dip downwards for fourth month

Housing Wire

One positive development was the 7% increase in for-sale inventory, which should slightly help price conditions,” said Joel Kan, associate vice president of economic and industry forecasting for the Mortgage Bankers Association. Approximately 89% of the homes sold in May 2021 were on the market for less than a month.

Inventory 414