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PHH wants the full Court of Appeals for the District of Columbia Circuit to do more than simply declare the leadership structure of the Consumer Financial Protection Bureau unconstitutional; it wants the Court of Appeals to kill the CFPB altogether. …read more
From:: Real Estate Wire
While the future of the Dodd-Frank Wall Street Reform and Consumer Protection Act is uncertain, positions about the law are more clear.
Dodd-Frank is actually enforced through hundreds of detailed regulations based on the 848-page law, which is unlikely to be entirely repealed.
But even revisions to the regulations, which would involve the months-long public notice and comment process, could invite legal challenges.
From:: Financing
JBS USA, a subsidiary of Brazil’s JBS S/A, has bought Plumrose USA, the U.S.-based bacon and deli-meats business of Denmark’s Danish Crown A/S, for $230 million, JBS USA said late Monday. The deal is expected to close in the second half of the year, subject to regulatory review and approvals, the company said. The acquisition includes five prepared-foods facilities and two distribution centers in the U.S. Plumrose’s net revenue is around $500 million, JBS USA said. Danish Crown is one of Europe’s largest pork processors and exporters as well as among the largest meat processing companies in that continent.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Staples Inc. said late Monday it plans to sell its Australian and New Zealand business to Platinum Equity for an undisclosed amount. “As we execute our plan for long-term growth we want to focus primarily on our Staples’ North American business, and this will allow us to better do that,” said Shira Goodman, Staples chief executive, in a statement. Shares of Staples rose 0.8% to $8.64 after hours.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ at blog.rismedia.com:
As rising rents sweep the country, the channel between the cost of owning and the cost of renting continues to slim. According to the latest Florida Atlantic University national index, today’s active rental prices make for a great time to purchase a home.
“We are not where we were in 2012, when nearly any purchase was a sound financial decision,” said Ken Johnson, Ph.D., real estate economist and index author, in a recent press release. “However, overall, we are now in a situation where aggressive marketing from sellers combined with due diligence and sound negotiation from buyers is creating a housing market that’s more in line with what we’ve seen historically.”
The index, called the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, shows that 15 of the 23 cities studied are set in buy territory, while another five are only marginally in rent territory. This news only further fortifies the positive outcome of the latest S&P/Case-Shiller Home Price Index, which showed home prices rising at the highest annual increase since June 2014, roughly 5.8 percent year-over-year. Out of the 23 cities studied in the BH&J Index, the only urban places to show discouraging market conditions are Dallas, Denver and Houston.
“The scores for Dallas, Denver and Houston have had worried us for some time now,” said Eli Beracha, Ph.D., co-author of the index and assistant professor in the T&S Hollo School of Real Estate at FIU. “The last time we saw scores of this magnitude, housing market crashes soon followed.”
The overall verdict seems to be, if you can afford to buy in, the time to do so is now.
To reach their finding, the FAU Index incorporated property appreciation from housing markets around the country. This data is joined by rental, maintenance and alternative investment data streams. Together, these factors can indicate when (and why) housing markets might change direction.
For more information, visit business.fau.edu/buyvsrent.
Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate ideas at zoe@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post Rising Rents Offer More Home-Buying Opportunities appeared first on RISMedia.
From:: Real Estate News
Leading Real Estate Companies of the World® (LeadingRE) has named Shorewest Realtors President Joe Horning chairman of the board for a two year-term, the company recently announced. Horning, a third generation-leader of the Shorewest Family of Companies, is the youngest chairman to date.
“We are so fortunate to have Joe move into the role of chairman,” says Pam O’Connor, president and CEO of LeadingRE. “His passion for the industry, his focus on innovation and his deliberate approach to business will be incredibly valuable to us as we continue to expand the ways in which we support our members’ success.”
“It’s an incredible honor to serve as chairman of the LeadingRE board, working alongside some of the best brokers in the business on behalf of all of our member companies worldwide,” says Horning. “I look forward to building on the exceptional offerings we have to support our members in all areas of their operations.”
Horning currently serves on the boards for Upstream, the Greater Milwaukee Association of REALTORS®, the Wisconsin Homeowners Alliance and the Wisconsin Real Estate Exchange. He also participates in the National Association of REALTORS® MLS Consolidation Resources Work Group.
Other LeadingRE board officers include Immediate Past Chairman Pat Riley (Allen Tate Company, Charlotte, N.C.); Vice Chairman Diane M. Ramirez (Halstead Real Estate, New York, N.Y.); Secretary Howard W. (“Hoby”) Hanna IV (Howard Hanna Real Estate Services, Cleveland, Ohio); and Treasurer Rob Sibcy (Sibcy Cline, Realtors, Cincinnati, Ohio).
Also serving on the board are Carol Bulman (Jack Conway & Company, Norwell, Mass.); Harold Crye (Crye-Leike Inc. – Nashville, Memphis, Tenn.); Jeffrey Detwiler (Long & Foster Companies, Chantilly, Va.); Mike Pappas (The Keyes Company, Miami, Fla.); Ron Peltier (HomeServices of America, Inc., Minneapolis, Minn.); Patrick M. Shea, (Lyon Real Estate, Sacramento, Calif.); Ron Stader, (CIR REALTY, Calgary, Alb., Canada); and William Watson, Jr. (Watson Realty Corporation, Jacksonville, Fla.).
For more information, please visit www.LeadingRE.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post LeadingRE Names Shorewest’s Joe Horning Chairman of the Board appeared first on RISMedia.
From:: Real Estate News
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ at blog.rismedia.com:
Whether it’s your first house or your fourth, you’ve likely heard the phrase “location, location, location.” A recent Smart Asset study procured information on the very best city to sell a home based on five factors. They looked at the change in median home value, the percent of homes in the area sold at a loss, the average number days a home sits on the market, the closing costs and the number of real estate offices per 1,000 residents. The results were a bit surprising.
Colorado and Texas Slay
These two states seem to be the best places to sell, snatching up nine out of the 10 top city spots on the list.
No-No Northeast
Out of the top 15 cities ranked, only one Northeastern city made the cut. The winning city? Boston.
Big Wins for Denver
The Mile High City not only has an impressive growth in median home values, but Denver homes stay on the market for an average of just 27 days.
See the full rundown below and visit SmartAsset.com for more findings.
Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post Surprise! The 10 Best Cities to Sell a House appeared first on RISMedia.
From:: Real Estate News
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ at blog.rismedia.com:
Whether it’s your first house or your fourth, you’ve likely heard the phrase “location, location, location.” A recent Smart Asset study procured information on the very best city to sell a home based on five factors. They looked at the change in median home value, the percent of homes in the area sold at a loss, the average number days a home sits on the market, the closing costs and the number of real estate offices per 1,000 residents. The results were a bit surprising.
Colorado and Texas Slay
These two states seem to be the best places to sell, snatching up nine out of the 10 top city spots on the list.
No-No Northeast
Out of the top 15 cities ranked, only one Northeastern city made the cut. The winning city? Boston.
Big Wins for Denver
The Mile High City not only has an impressive growth in median home values, but Denver homes stay on the market for an average of just 27 days.
See the full rundown below and visit SmartAsset.com for more findings.
Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post Surprise! The 10 Best Cities to Sell a House appeared first on RISMedia.
From:: Finance and Economy
Shares of Valeant Pharmaceuticals International Inc. sank in Monday’s extended session following a CNBC report that hedge fund manager Bill Ackman has sold his stake in the company and plans to step down from the board. Ackman had steadfastedly expressed support for the drug company even after the company’s stock plunged in the aftermath of an accounting scandal. Ackman’s Pershing Square Capital owned 2.88 million shares, or 9.96% of the company, at the end of 2016. Valeant dropped more than 7% after hours.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
A mortgage broker and her stepson, who was a banker, have been convicted in federal court of defrauding the California bank where he worked.
Leyla Wydler was a mortgage broker who owned several Houston-area businesses including Globan Mortgage Co., Casa Milagro and First Milagro.
One of the business ventures of Wydler, 57, was a real estate project that she was developing in Houston with her stepson, Carlos Wydler, 45.
From:: Financing