Back to VHDA Home
Follow VHDA LinkedIn Facebook YouTube RSS Feed Google+ VHDA Blog
Español | Text Size: A- A  A+ | Print Print

News Clips

Forbes, Tuesday, September 27, 2016
(RECAP: Home prices continued their steady ascent in July but there’s no reason to believe a collapse in prices is on the horizon, according to S&P/Case-Shiller. On a national basis, single-family home prices rose by 5.1% in July, according to the S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions. Home prices have risen by about 5% annually for the last two years and are approaching the record highs seen before the financial crisis. In seven out of 20 major cities, houses are more expensive than ever. As housing prices have soared, the amount people are borrowing hasn’t swelled nearly as much as it did before the financial crisis. Currently, outstanding mortgage debt on family homes for four people or less is 13% below the peak in 2008.)
National Association of Realtors , Tuesday, September 27, 2016
(RECAP: When H.R. 3700, the “Housing Opportunity Through Modernization Act,” was signed into law earlier this year, HUD was given notice that they had 90 days to weigh in on regulations related to FHA financing for condominiums before changes automatically went into effect. These included rules regarding owner-occupancy rates and treatment of spot loans. In response to H.R. 3700, HUD today released a proposed rule on condominiums that includes positive changes, like a return of spot loans and an extension of the certification period, but also includes a proposal to set owner-occupancy rate requirements within a range of 25 percent to 75 percent. This is despite a 35 percent requirement laid out in H.R. 3700. The National Association of Realtors® praised sections of the rule, but remains concerned about the possibility of an overly high owner-occupancy threshold. NAR cited estimates showing that that less than 10 percent of all condos are FHA certified as evidence that more needs to be done.)
Daily Press, Tuesday, September 27, 2016
(RECAP: City officials want to launch a program to inspect rented houses and apartments in the Southeast Community to make sure they're safe for people. Based on complaints they've fielded and what they can see from the outside, city inspectors worry that some rented homes and apartments fail to meet state safety and property maintenance standards. But in many cases, inspectors simply can't get in to see, said codes compliance director Harold Roach. In a briefing to the City Council, he said a rental inspection program would be an important step to improve housing conditions and revitalize neighborhoods.)
Banker & Tradesman , Tuesday, September 27, 2016
(RECAP: The National Low Income Housing Coalition (NLIHC) said in a statement today it is pleased to have Sen. Ron Wyden (D-OR) prioritizing solutions to the affordable housing crisis. However, the group’s president, Diane Yentel called his proposed Middle Income Housing Tax Credit program “a misguided and wasteful use of federal resources” in a statement opposing the proposal. Wyden proposes to create a new federal tax incentive to encourage the development of housing affordable to households earning the area median income (AMI). Sixty percent of the units would be targeted to households earning median income, while the remaining forty percent of units would have no income targeting at all, according to the NLIHC. Yentel said in a statement, “Given the growing affordable housing crisis, bold action is needed to serve more families in need. New federal resources must be targeted to serve those with the clearest and greatest needs – families with extremely low incomes.”)
NCB 12, Tuesday, September 27, 2016
(RECAP: Contractors are unveiling their plans for the abandoned depot near Carytown, including a mixed-use redevelopment on Robinson and Cary Streets. The Shopping Center Group released plans for the commercial portion of the mixed-use project dubbed Cary Street Station. Construction is now underway to transform the vacant historic bus and trolley depot into a hub for living and working. The two new commercial buildings will total 16,000 square feet of ground-floor space with a 1,000 square foot patio. That space is adjacent to the original bus barn and depot buildings, which will be converted into 285 luxury rental homes.)
RealEstateRama, Monday, September 26, 2016
(RECAP: The Arlington County Board today moved to preserve 68 affordable apartments in the Westover neighborhood, approving a $10.9 million Affordable Housing Investment Fund allocation to the non-profit Arlington Partnership for Affordable Housing (APAH). The loan and associated documents will be considered by the Board in December. APAH will use the proposed loan to help it buy market-rate units within eight apartment buildings. The affordable housing developer intends to renovate the units and guarantee their affordability to families earning at or below 60 percent of the area median income for 60 years.)
HousingWire, Monday, September 26, 2016
(RECAP: This weekend marked the official launch of Fannie Mae’s Desktop Underwriter Version 10.0, implementing the long-awaited use of trended credit, a change that could open up the credit box to potential borrowers previously unable to get a mortgage due to their credit history. So what’s with the big hype around trended credit data? Trended credit data, according to Fannie, allows a smarter, more thorough analysis of the borrower’s credit history and helps creditworthy borrowers obtain access to mortgage credit and sustainable homeownership. This latest update to Desktop Underwriter is significant because it includes the requirement that lenders must begin using trended credit data when underwriting single-family borrowers. Fannie is working with Equifax and TransUnion to provide the data.)
BuzzBuzzNews , Monday, September 26, 2016
(RECAP: While there were roughly the same number of US first-time homebuyers in 2015 as there were in 2001 — approximately 1.3 million — new data suggests that there has been a nearly 50 percent decrease in the number of repeat homebuyers when comparing those same years. The number of repeat homebuyers in 2015 was just over 900,000, a huge drop from the 1.8 million recorded in 2001, according to the Urban Institute’s newly released September Chartbook. Repeat homebuying dropped in 2007 during the housing crisis, when falling home prices made it difficult to build home equity and getting a mortgage was challenging. It has continued to decline suggesting that repeat homebuyers may be stuck in their starter homes says the economic and social policy research center Urban Institute.)
The Daily Progress, Monday, September 26, 2016
(RECAP: Residents in public housing may soon be getting an opportunity to participate in conversations about the redevelopment of Charlottesville Redevelopment and Housing Authority sites, including Crescent Halls. After what some saw as an emergency situation at Crescent Halls was finally resolved earlier this month with repairs to the building’s air conditioning system, the CRHA board of directors on Monday passed a resolution to create a new redevelopment committee that may include resident representation. Ahead of Monday’s meeting, Standing Up for Racial Justice Charlottesville, a relatively new social justice advocacy group in the city, asked its supporters to contact the CRHA board and ask that it “seat initial members” for the commission at Monday’s meeting.)
Mortgage News Daily, Monday, September 26, 2016
(RECAP: To understand the top-line story in the Urban Institute's (UI's) latest Chartbook released on Monday one has to go back to another UI paper published more than a year ago. In the article the UI's Housing Policy Center's director, Laurie Goodman, and fellow researchers claimed that the share of first-time homebuyers was in reality much higher than other research, notably that of the National Association of Realtors® (NAR) had asserted. the bottom line was that the UI study found first-time homebuyers in 2014 accounted for about 52 percent of home purchases while NAR put the share at around 32 percent. This explanation was necessary into to explain the number Goodman uses in her current Chartbook analysis which concluded it is the share of repeat homebuyers that is declining and that tight credit is responsible.)
1 2 3 4 5 6 7 

Contact Us

Brian Matt
Public Relations Manager
Phone: 804-343-5520
Cell: 804-652-8341
Fax: 804-783-6707


Virginia Relay

In Virginia: 711
Toll Free: 800-828-1140


VHDA Fraud, Waste or Abuse Hotline

Phone: 804-915-3146
Website: Reporting Fraud, Waste or Abuse