A fourth quarter ranking of the best single-family rental markets for investment indicates half of the top 10 areas can be found in the Sunshine State.
Daytona Beach and Fort Myers moved up notably to the second and fifth spots from 109 and 125, respectively. Also in the top 10 are Orlando, Fort Lauderdale and Tampa.
Las Vegas topped the list compiled by HomeVestors of America Inc. and Local Market Monitor. Michigan cities Detroit and Warren also were in the top 10, as were Bakersfield, Calif., and Rochester, N.Y.
The rankings are based on expected future relative returns on single-family homes that are purchased as rental property.
Daily Briefing | Wednesday, December 28, 2011
FHA Waives Flipping Rule Until Yearend 2012
The Federal Housing Administration has suspended its anti-flipping rules for another year to facilitate the financing and sales of newly renovated foreclosed properties.
FHA Delinquencies Rising with Lackluster Originations
The serious delinquency rate on Federal Housing Administration loans has risen a full percentage point over four months to 9.3% in November.
SP Reviewing Second-Lien RMBS Criteria
Standard Poor’s late Tuesday said it is reviewing its rating criteria for U.S. residential mortgage-backed securities collateralized primarily by second liens.
Zillow: Home Values Down Nearly $700 Billion in 2011
Zillow is projecting that home values across the country are expected to have gone down approximately $700 billion in 2011, which would be 35% less than the $1.1 trillion that was lost in 2010.
Bay Area and SoCal Home Sales Stable, But Look Unlikely to See Major Gains
Home sale numbers in Northern and Southern California are relatively stable but it does not appear they are positioned for any major gains, recent statistics from DataQuick suggest.
Wallick Volk Opens 18th Office in Mesa
A small, privately-held mortgage banking company based in Wyoming has opened a new branch office, an indication that some home finance firms are thriving in the face of the housing recession.
Anworth Increases Series B Preferred Stock Conversion Rate
Anworth Mortgage Asset Corp., Santa Monica, Calif., on Wednesday increased the conversion rate of its 6.25% series B cumulative convertible preferred stock to 3.6714 shares of its common stock from 3.6075 shares.
Cantor Fitzgerald Files to Issue Third CMBS Deal
Cantor Fitzgerald last week filed a form S-3 with the Securities and Exchange Commission to issue CMBS under its CCRE Commercial Mortgage Securities trust.
Agencies Extend Comment Deadline on ‘Volcker Rule’
Four federal regulators on Friday announced they would give commenters an additional month to weigh in on sweeping restrictions to banks’ proprietary trading vehicles.