Wells Fired Head of Lending:Misconduct

The bank has been on unstable footing ever since the revelation of the bank’s fake account scandal, which saw the company fined $185 million for more than 5,000 of the bank’s former employees opening more than 2 million potentially unauthorized accounts to get sales bonuses. Wells Fargo announced Friday that it fired Franklin Codel, a senior executive vice president and head of the bank’s consumer lending division, for misconduct. Wells Fargo

Facebook launches massive push into real estate listings

Zillow. Trulia. Realtor.com. Redfin. All household names in the real estate listings world, right? Well, those companies now have some serious competition from a company that boasts an audience that dwarfs all of those sites put together – Facebook. That’s right. Facebook is coming to real estate listings. Now, anyone who’s “friends” with a real estate agent on Facebook is likely used to seeing real estate listings show up in their news feed, but it appears that Facebook has much bigger plans for real estate listings through its own platform.   real estate on Facebook  


Compare Cost of Living

Cost of Living   The Cost of Living Page The cost of living calculator  allows you to see where different cities rank in various cost categories. See below for an example of NYC and Chicago. As you can see, two of the most heavily marketed cities for recent grads have significant above-average cost of living rates.

Ice Berg Report


The Iceberg Report is an annual report on the American Single-Family Residential Investment Market REAL Trends, Inc., the Trusted Source in residential brokerage and Andrew Waite of NEXZUS Publishing Group announces the release of The Iceberg Report, an annual report and analysis of the American Single-Family Residential Investment Industry. Some 23 percent of one- to four-family residential homes in the United States are owned by investors. The Iceberg Report details the size of the single-family residential market, as well as the demographics, attitudes and behaviors of owners of single-family investment homes and uncovers the companies that serve this market. The implications of investors owning and holding single family residential real estate as an investment have enormous implications for the future of housing, rentals and homeownership at large as well as housing affordability. “The Iceberg Report confirms what we suspected,” says Steve Murray, president of REAL Trends. “More successful investors rely on professional real estate agents and leading property managers to help them find, manage and profit from an increasingly mainstream asset, the standalone single-family residential house.” Some Report Highlights Institutional owners own less than 400,000 of these units, while nearly 8 million non-institutional owners (those that own one to two units) own the rest. Learn about their portfolio goals. Most of the 8 million who own one to two units don’t use a formal property management firm until they accumulate more than four units. A majority of investors in single-family residential homes still use a real estate professional when buying…

Drop In Mortgage Applications Means It’s Time To Shake Off Repayment Burden

Mortgages Drop The rollercoaster that is mortgage applications saw the final days of May 2017 close on a down note and that’s likely due to a shorting in available housing to purchase, according to recent news reports. CNBC reports that U.S. mortgage applications were down 3.4 percent for the week ending May 26 compared to the previous week. The recently released information, which was pulled from Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, comes on the heels of a climb of a little over 4 percent and a drop of about the same amount the week before that. According to Abby Shemesh, CEO and founder of Amerinote Xchange, these fluctuations – not to mention the seasonally-adjusted index that’s 14 percent lower than it was this time last year – means it’s a seller’s market for those looking to sell their mortgage note. “It’s a simple premise, really,” said Shemesh. “If there are no house to buy, then there’s no need for a mortgage. What we can offer you is the best price for current mortgage holders looking to avoid the ebbs and flows of the stock market — which ultimately affect your principal payments and interest.” Amerinote Xchange offers mortgage holders a quote in exchange for their note after putting it on the secondary mortgage market. If the holder accepts the offer, then the note holder will relinquish the document in exchange for a fast and fair cash payment. Home Sales The MBA’s chief economist also told CNBC that…

HomeVestors Welcomes 800th Franchise in First Quarter 2017

75 Additional Franchises Join Growing “We Buy Ugly Houses®” Brand HomeVestors of America welcomed 75 new franchises during the first quarter 2017, including the brand’s 800th franchise in Allentown, Pa., a new market for the “We Buy Ugly Houses” company. Other new territories include Little Rock, Arkansas; Twin Falls, Idaho; Duluth-Superior, Wi.; Beaumont, Tex.; Charlottesville, Va.; Omaha, Neb.; and St. Cloud-Alexandria, Minn. “Homeowners throughout America enjoy the efforts of franchises like these who are working to once again turn ugly houses into an asset to their communities,” said David Hicks, HomeVestors co-president. “The franchises that come to HomeVestors have an entrepreneurial drive and passion that has helped build our company over the last 20 years. We are happy to welcome these additional franchises, and to recognize Sjaun Lobdell, our 800th franchisee.” Sjaun hails from Allentown, where he previously worked in information technology. He and his wife Jamie, were seeking a way for Sjaun to invest himself wholeheartedly into a business opportunity that would allow more meaningful time with their family of four. Sjaun recently was recognized while attending UG University in Dallas. “I’ve always been interested in real estate, but felt overwhelmed at the prospect,” said Lobdell, the 800th HomeVestors® franchisee. “After the great experience we had re-doing our own place, and facing a crossroads in our life, we saw HomeVestors as a way to seize the day to enjoy freedom through our business. We’re looking forward to doing the hard work required with the tremendous backing of the ‘We…

$68 Million Chappaqua Crossing

Grossman Cos. & Summit Development Move Ahead with $68 Million Chappaqua Crossing (NY) $68 Million Chappaqua Crossing: A Joint Venture of The Grossman Companies and Summit Development in New York’s Westchester County High-end, 19-Acre Retail Center Is Located on Former Readers Digest World HQ Quincy, MA / Southport, CT / Chappaqua, NY  — In one of the largest ground-up development projects in its 40-year commercial real estate history, The Grossman Companies, Inc., based in Quincy, Mass., has partnered with Summit Development of Southport, CT, to develop a high-end 120,000 square-foot, $68 million retail development on 19 acres at 480 Bedford Road, part of the long-time, former Readers Digest world headquarters. The entire site consists of 114 acres. The sale was consummated on April 14, 2017. The announcement was made by Grossman Companies’ Co-President Jake Grossman and Felix Charney, Principal of Summit . Chappaqua Crossing will be ready for its anchor tenants, Whole Foods and Life Time Fitness, each 40,000 SF, in mid- 2018. Other tenants that have already signed leases include Pet Valu, Chase Bank, AT&T and Go Health Urgent Care. The remainder of the Readers Digest property will ultimately include: 91 high-end town homes; approximately 500,000 SF of medical and office space anchored by Northern Westchester Hospital; 66 affordable housing units; and various public amenities including a walking trail and performance center. CBRE’s National Retail Partners represented Grossman and Summit, and arranged both the debt and equity capital that includes the construction loan of $44 million from M &…

Top Real Estate Leaders to Gather in Los Angeles

ULI’s Fall Meeting in Los Angeles Looks at What’s Ahead for Real Estate The World’s Top Real Estate Leaders to Gather in Los Angeles for the Urban Land Institute’s 2017 Fall Meeting, Set for October 23–26 at the Los Angeles Convention Center Nearly 7,000 of the world’s foremost leaders in the real estate and land use industry will convene at the Urban Land Institute’s (ULI) 2017 Fall Meeting, set for October 23-26 at the Los Angeles Convention Center. ULI is a global, multidisciplinary, member-driven real estate organization dedicated to responsible land use and building thriving, sustainable communities. Each day of the meeting will emphasize a separate area of focus, starting with Monday, October 23, which will be dedicated to tours of some of the metro area’s most innovative developments. Tuesday, October 24, will emphasize leadership, offering lessons learned from experts in the real estate industry and beyond; and on Wednesday, October 25, the focus will shift to industry trends. Thursday, October 26, has been designated as real estate “deal day,” with opportunities for attendees to explore and initiate development projects, as well as share best practices in the art of making deals. As the largest of ULI’s events, and the real estate industry’s premier gathering, the Fall Meeting routinely draws internationally renowned land use and urban development experts, including commercial developers, finance executives, economic development specialists, architects, urban planners, property owners and managers, real estate consultants, public officials, academics and property advisers. Real estate session topics include challenges and opportunities…

Why A Reverse Mortgage Might Make Sense For You

According to American Association of Retired Persons (AARP) research, nearly 90 percent of seniors want to age at home. Some will stay put in their memory-filled home, while others will downsize. Options are plenty. But, it’s important to understand what’s feasible. Will your retirement investments last? What backup options do you have? Your home should be near the top of your list. https://www.americanfinancing.net/about-us/articles/aging-reverse-mortgages