NMP - September 2016 - 15

a corresponding rise in the number of vacant bank-owned homes. Assuming that the foreclosing lenders are maintaining these properties and paying the property taxes, they pose less of a threat to neighborhood quality than zombie foreclosures, but they still represent latent inventory in an inventory-starved housing market." Zillow: Home Values Rise for 48th Straight Month this month, according to Pro Teck, are Oak Harbor, Wash.; Mount Vernon-Anacortes, Wash.; VisaliaPorterville, Calif.; Durham-Chapel Hill, N.C.; Portland-South Portland, Maine; Silver Spring-FrederickRockville, Md.; Charleston-North Charleston, S.C.; Richmond, Va.; Stockton-Lodi, Calif.; and Sacramento-Roseville-ArdenArcade, Calif. At the other end of the spectrum, the bottom 10 markets on Pro Teck's list are Huntsville, Ala.; Scranton-WilkesBarre-Hazleton, Pa.; Charleston, W.V.; Midland, Texas; Gary, Ind.; Atlantic City-Hammonton, N.J.; Jacksonville, N.C.; Flint, Mich.; Muskegon, Mich.; and Saginaw, Mich. California Dominates New List of Most Expensive Housing California housing is so expensive-pause for reader to ask, "How expensive it it?"-that the state occupies all 10 rankings continued on page 16 B R I N G Y OUR O LOANS A H OME HO E CONVENTIONAL  FHA  VA  USDA FOR ALL TYPES OF BORROWERS LEARN MORE ABOUT OU UR PROGRAMS BY VISITING www.C w.CarringtonWhoolesale.com/BringY com/BringY o o LoanssHome our Grrowing your business with wi the riight partner has never beeen easier. Get star ted today with Carringt i on Mor tgage Ser vices. 866 - 453-2400 Enter fo for a ch chance to win w 2 tickkeets to the game ! TO R OA O A D TO RO OAD UST ON HO OUSTO TO Swwee SSweepstakes wweep eeeeps sststak ttak kkeeses weeep epppststa taake ak akes CarrrringtonWhholesale.ccoom/Road toHouston Ca © Copyr o y ight i 2007-2016 Carringt a oon Mortga gagge Services, LLC headquartereed at 1600 South Douglasss Roaad, Suites e 110 & 200A, Anaheim, CA 92806. 800 -561-4567. NM MLS ID 2600. Nationwide Mortgage g Licensing e Syst ys eem (NMLS) Coonsumer Access ce websit e ee: www.nmlsc . o onsume erac a cess.org. AZ: Mortggage Bankeer BK-0910745. CA: Licensed by the Department of Business Oversight under the Califor a o nia n Reesidential Mortgage Lending Act,, Fiile 413 0904. CO: Check h license status of yoour mortgage g loan origina i toor at www.dor . a.sta a te.co.us/reale estate/index.htm. e GA: Georgia g a Residential Mortggage Licensee 22721. IL: Illinois Residential e Mortggage Licensee. KS: Supervised Loan Liceense SL.0000313. KY:: Mortgage Loan Company o y Liceense MC211112. MN: This h is not an offer e too enteer into an interest e e rate lock aagreement e under Miinnesota Law. MS: Licensed by the Mississipppi Department of Banking i and Consumer o Financ i e. Mortgage g Lender License 2600. MO: Missouri Compan o y Registration 14 -1746-A. In-State Office: Missouri Residentiall Mortgage g Loan Brok o er e License e 14-1746-A1. 251 SW Noel, Lees e Summit, MO 64063. NV: Mortgage g Brok o er e License e 4068 (Residential Mortgage Lending). NH: Licensedd by the New Hampshire Bankiing Department. NJ:: Licensed by tthe N.J. Department of Banking i and Insuranc a e. NY: Liceensed Moortggage Banker-NY e - S Department of Financ i ial Services. New Yor o k Mortggage Banker e Liceense B500980/1076664. OH: Ohio Mortgage g Brok o eer Act Cer e tificatee of Registr e ation M MB.804213.000; Ohhio Mortggage Loan Act Cer e tificatee of Registr e ation SM.501517.000. OR: Mortggage Lender License ML4886. PA: Licensed by the Department of Banking. RI: Rhode Island s Liceensed Lender, Lender Liceense 20112809LL. VA: Licensed by the Viri gginia State Cor o poration Coommission MC--5382. NMLS ID 2600 (www.nmlsc . onsumerac a cess e .org). g WA: Coonsumer Loan Liceense CL2600. Also licensed iin AL, AR, CT, DE, DC,, FL, ID, IN, IA, LA, ME,, MD, MI, MT,, NM, NC, OK, SC, TN, TX, UT, WV, WI and WY. NOTICE: All loans suubject to credit e , underwriting i and prop o erty approval guidelines. Offered e e loan products may vary by state. The here is no guarant a ee that all borrroweers will qualify. Restricitionss may apply.. This h is not a commitment o too lend.. Terms e m , conditio o ons and programs a are subject too change without notice. This h infor o ma m tion is foor mortgage g prof o eessionals only ly and is not intended e for o distribution i to consumers. Carringt a ri on on Mortggage Servicees is not acting on behalf of or at the direc e tioon of HUD/FHA or any government en agency.y. All rights i reser e ved e. n National Mortgage Professional Magazine n SEPTEMBER 2016 A F U L L R A N G E O F LOA N S O LU T I O N S 15 NationalMortgageProfessional.com U.S. home values are now entering their fourth year of consistent appreciation, according to new data released by Zillow. July marked the 48th straight month with rising home values, with Zillow's Home Value Index reaching $187,300 last month. While July's level represented a five percent year-over-year increase, it was still 4.7 percent below the April 2007 peak of $196,600. Among the major metro markets, Portland experienced the greatest appreciation in July, with home values reaching a median value of $334,900, up 14.7 percent from last year. On the rental side of the housing world, rents were up on national basis by two percent over the past year, with the Zillow Rent Index registering at $1,408 for July. This is the 47th straight month rents have appreciated. San Jose and San Francisco had the nation's highest median monthly rents at $3,520 and $3,047, respectively. "The consistent rise in home values that we've been seeing for the past four years masks a number of region-specific trends that have taken place over the past few months," said Zillow Chief Economist Svenja Gudell. "In most areas, the market is being driven mainly by a strong labor market and tight supply, especially among entry level homes that first time buyers are after. But some markets- especially the red-hot Pacific Northwest-are adding more jobs and attracting more residents, putting the pressure on home values and rents. The Bay Area and Southern California are still growing at a faster pace than the nation as a whole, but growth rates have come back to earth a bit after several years of rapid growth." Separately, Pro Teck Valuation Services released its Home Value Forecast for August-and this month, the trend appears to be favoring an Eastern ascension in home appreciation within the major Core Based Statistical Areas (CSBAs). "Looking deeper into our ranking shows that out of the 35 CBSAs we label 'hot' in our market condition ranking, 18 of them are from eastern states," said Tom O'Grady, CEO of Pro Teck Valuation Services. "Looking at all seven of our market condition ratings shows that almost 70 percent of the CBSAs we track are in a normal condition or better-further evidence of a broad recovery." The top markets for home values http://www.NationalMortgageProfessional.com http://www.carringtonWholesale.com/BringYourLoansHome http://www.nmlsconsumeraccess.org

Table of Contents for the Digital Edition of NMP - September 2016

Table of Contents
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NMP - September 2016 - 1
NMP - September 2016 - Table of Contents
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