States That Stand to Lead Home-Equity Origination

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: Areas at Highest Risk of a Foreclosure Surge Next: Commentary: Making it as a Female Mortgage Servicer Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / States That Stand to Lead Home-Equity Origination Share Save Demand Propels Home Prices Upward 2 days ago credit Loan WalletHub 2020-09-30 Christina Hughes Babb Due to economic impact of COVID-19, more Americans are taking out home-equity and other types of loans, according to a new study by WalletHub.”Americans who are having trouble with their finances during the COVID-19 pandemic are searching for all sorts of options to relieve the pressure, from home equity loans to payday loans,” according to the report. “However, people’s interest in getting these types of loans varies from state to state. In order to determine the states where people are searching for loans the most during the pandemic, WalletHub compared the 50 states and the District of Columbia across four key metrics. These metrics combine internal credit report data with data on Google search increases for three loan-related terms.”Here is what the researchers discovered:The residents of these 10 states are most likely to seek a home equity loan:Connecticut, Minnesota, New York, Indiana, Alabama, Kansas, Virginia, Florida, Michigan, and Iowa.The report breaks down the loan searches for 51 states.For the report, WalletHub consulted several experts soliciting their opinions on the relative safety of taking out loans of any type. None of them recommended seeking payday loans or even home equity loans, but rather recommended borrowing from family and/or acquaintances when possible, or a credit union.”If a person has a trust financial institution or bank, I would suggest meeting with a loan officer to assess what the credit implications might be,” said Frank H. Shafroth Director, Center for State and Local Government Leadership at George Mason University.Wallet Hub also asked the experts “what policy interventions can be taken by local authorities in order to help those in need financially during this economic downturn?” To which Shafroth replied, “Adopting a policy which permits deferral of property foreclosures: that was a critical element in Detroit’s recovery from the nation’s greatest chapter 9 municipal bankruptcy – otherwise, forcing people out of their homes could put them at greater risk of catching the virus and infecting many, many others.The study can be accessed in full on the WalletHub website. Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Related Articles Tagged with: credit Loan WalletHubcenter_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 30, 2020 973 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago States That Stand to Lead Home-Equity Origination Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb  Print This Postlast_img read more

Five in demand Brisbane suburbs

first_img312 Manly Road, Manly WestSAVVY investors might want to look away from the inner city and towards the outer suburbs for strong property growth according to research from LocationScore.com.au.The property research site crunched the numbers across Brisbane’s suburbs and found that demand was strongest in a number of outer suburbs in 2017.Director of research Jeremy Sheppard said the company examined eight key indicators for demand over 12 months to find what suburbs were likely to grow. The top five high performing suburbs were within 10 to 20 kilometres from the CBD, eschewing conventional wisdom that closer to the city was better for price growth. “The reason that there is an increase in demand could be to do with infrastructure or it could be affordability,” Mr Sheppard said. “People could be priced out of the rest of the city so you can find that these affordable suburbs are getting a lot more interest.”To measure demand he included data such as days on market and vendor discounts, as well as less obvious measures like the numbers of online views on property websites like realestate.com.au.Across Brisbane units in Alexandra Hills, Manly West, Carseldine and Sunnybank Hills scored highly in demand. These units at Dorville Road in Carseldine could be set for an increase in value.This high demand for units in these suburbs was in stark contrast to the oversupply of units in the inner city, where oversupply and high vacancy rates have continued to cause a headache for investors. More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus21 hours agoKenmore Hills in Brisbane’s southwest was the only suburb where demand for houses made the top five.Manly West’s unit market scored the highest of the five with a demand score of 74 out of 100. Bruce McIntyre at Ray White Coorparoo said the strong demand for units in Many West was mainly being driven by owner occupiers rather than investors. “A lot of young families are moving in,” Mr McIntyre said. Before buying up in the in these suburbs Mr Sheppard recommended potential investors check to see if many new housing developments were likely to be approved.“The last thing you want to do is invest in a market that is great right now that might have an oversupply in a few years,” he said.Brisbane’s most in demand suburbs.Manly West, Units, Location Score 74/100Sunnybank Hills, Units, Location Score 70/100Alexandra Hills, Units, Location Score 69/100Carseldine, Units, Location Score 69/100Kenmore Hills, Houses, Location Score 66/100last_img read more