Sep, 12
2023
Business, Free News Articles, Real Estate

Reinventing Real Estate: Pioneering Redevelopment of 6709 Ridge Road Embodies the Future of Property Investment

PORT RICHEY, Fla. -- Lincoln Financial Services, an Orlando, Florida developer and visionary in the realm of property development, has announced the completion of its latest landmark project, the stunning transformation of 6709 Ridge Road. It was originally purchased out of receivership and reinvented through a $2.6 million investment. This property is now fully leased with an incredible mixture of tenants, including many doctors, attorneys, and technology companies, underscoring the remarkable value creation achieved through this endeavor.

Ridge Road's transformation is a testament to Lincoln Financial Services' unwavering commitment to innovative design, sustainability, and economic development. This notable venture not only signifies a promising win for the company but also amplifies its stature in the competitive real estate landscape.

"Our vision for Ridge Road was not just about renovating a building. We wanted to reimagine the entire space to create something meaningful for the community, as well as providing a lucrative return for our investors. This project has set a new standard for real estate redevelopment and we are proud to deliver on our promises," said Amanda Sheffield, Property Manager.

From the ground up, Lincoln Financial Service orchestrated extensive improvements to the property that reflect its unique, forward-thinking approach to redevelopment. These advancements, both aesthetic and functional, dramatically elevated the property's value and appeal.

This project highlights the company's ability to deliver promising results and reinforce investor trust in their approach to property investment.

Lincoln Financial Services' proactive approach to redevelopment isn't only about financial returns. It's about reshaping communities, revitalizing neighborhoods, and creating spaces that are functional, aesthetically pleasing, and sustainable. "6709 was left for dead and was an eye sore for the community. We saw the great infill location and potential to create something great without adding to more urban sprawl. Our company seeks out ugly buildings in great locations that have been forgotten, and we take pride in putting together the local resources to reimagine what the building can be now." Alex Reece, Director.

As Lincoln Financial Services continues to redefine real estate through bold endeavors, Ridge Road serves as an illustrious chapter in its ongoing growth story. This project illustrates the company's capacity to execute and manage ventures that maximize value, promote economic development, and positively impact the communities they serve.

With Ridge Road, Lincoln Financial Services has reinforced its commitment to being at the forefront of the property redevelopment landscape, delivering on its promise to investors, and contributing to the betterment of the communities it operates within.

About Lincoln Financial Services:

Lincoln Financial Services is a trailblazer in the real estate sector, with a proven track record of successful property redevelopments. The company is renowned for its innovative approach to property investment and development, resulting in high-value projects and substantial returns for investors. Its projects not only enhance economic prosperity but also contribute positively to the communities in which they are situated. For more information, visit www.lincolnfinancialllc.com.

If you would like more information about this topic, please email: info@lincolnfinancialservicesllc.com

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 12
2023
Business, Free News Articles, Real Estate

Tampa Transformation: LRR Property Investments Makes Strategic Acquisition at 3655 Henderson Blvd, Plans for Major Improvements

TAMPA, Fla. -- The Phoenix Property Group, an Orlando, FL based developer and AMJ Group Inc., a Gainesville, FL based developer have recently partnered to create LRR Property Investments. As a new dynamic player in the real estate market, they are proud to announce the successful acquisition of a prime building located at 3655 Henderson Boulevard in Tampa, Florida.

The purchase, valued at $3 million, marks a significant addition for the company as it sets its sights on expanding its portfolio and delivering exceptional value to investors.

With a vision for transforming properties into thriving, modern spaces, LRR Property Investments plans to invest several million in improvements to the newly acquired building.

These enhancements will not only elevate the aesthetics and functionality of the property but also contribute to the overall growth and development of the local community. The upcoming venture represents just the beginning of an exciting pipeline of Tampa opportunities that LRR Property Investments has in store.

"We see an incredible opportunity with 3655 Henderson Blvd, and we're thrilled to commence this transformation," said Amanda Sheffield, Property Manager. "Our planned enhancements will breathe new life into this property, and will demonstrate our commitment to creating attractive returns for our investors while also contributing positively to the Tampa community."

The company intends to implement a series of enhancements that will significantly elevate the functionality and appeal of the property. These changes range from aesthetic upgrades to functional improvements designed to align with modern standards and community needs.

"We firmly believe that real estate has the power to shape communities and enrich lives," added Alex Reece, Director of LRR Property Investements. "Our team of industry experts is dedicated to creating spaces that foster growth, inspire collaboration, and drive economic prosperity. We are excited to leverage our knowledge and experience to unlock the full potential of this property and contribute to the ongoing development of Tampa. Tampa is an incredible city that is ripe for smart growth."

About LRR Property Investments:

LRR Property Investments is a dynamic and forward-thinking real estate company focused on acquiring, developing, and enhancing properties that deliver outstanding value to investors. With a team of industry experts and a commitment to excellence, LRR Property Investments leverages innovation, sustainability, and cutting-edge technology to transform properties and shape communities.

Additional contact information:

The Phoenix Property Group: http://thephoenixpropertygroup.com/

AMJ Group Inc.: https://www.amjinc.com/

Related link: http://thephoenixpropertygroup.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 06
2023
Business, Free News Articles, Real Estate

Hero Homes expands Cleveland footprint with 82 home purchase, targets Cleveland suburbs for future acquisitions

CLEVELAND, Ohio -- Affiliates of Hero Homes, have expanded its portfolio in the Cleveland, Ohio, metro area with the acquisition of the 27 unit Superior apartments in Cleveland Heights and 55 scattered site single family rental homes throughout the Cleveland Metro area. The 82 units will be added to its existing 36 homes already owned and operated in the Cleveland metro market. In these all-cash transactions, Hero Homes paid $6,219,419, equaling $75,000 per door, representing a 12.2%cap rate on current market rent.

The company believes the assets were purchased for less than 50% of their replacement value, representing a tangible value investment. Consequently, Hero Homes plans on buying an additional 1,000 homes in Ohio over the next 12 months.

The Ohio owner-operator has plans for renovation and repositioning of the assets.

"Cleveland is benefiting from new and expanding employers in the region and has emerged as one of the most affordable cities in the country," said Sayam Ibrahim, chief executive officer. "A lower cost of living, diversified economy, and proximity to destinations like Lake Erie and a robust downtown underpin future growth, and we're excited to expand our footprint in the metro with well-located, and well-maintained assets with plenty of upside potential."

The homes offer one-, two-, and three-bedroom layouts from 700 to over 2000 square feet. Interiors feature 9-foot ceilings, chef-style kitchens with stainless steel appliances, wood-style plank flooring, oversized closets, and plenty of sunlight. According to Hero Homes, upgraded countertops, kitchen backsplashes, and new cabinet faces will be added to each unit along with smart locks and thermostats, USB outlets, and upgraded plumbing and lighting fixtures.

Residents will have access to parks, dog walking areas, top Cleveland restaurants and plenty of shopping and entrainment.

Mr Ibrahim added, "We are excited about this new infill acquisitions in the Cleveland suburbs and look forward to working alongside the city and other property owners in the area to provide quality housing for local residents. We see significant value and potential in Cleveland and are in discussions to buy an additional 500 homes from various sellers in the coming months."

About Hero Homes:

Hero Homes was founded in 2011 by Mr Sayam Ibrahim, along with Sayam's brothers Amiel Ibrahim and Xavier Ibrahim and their partner Jonah Stevens. Since 2011, Hero Homes and its affiliates have purchased and renovated over 600 homes in Ohio with an emphasis on Columbus, Dayton, Lima and Urbana and now Cleveland representing over $65 million of value. Sayam Ibrahim's brother, Amiel, is a resident of Ohio and oversees all renovations of its assets while Xavier is based out of Florida and runs acquisitions for the company. Jonah Stevens heads their in house property management team. In 2022, The Ibrahim family partnered with Yaakov (Jack) Afik the largest developer on the island of Cyprus and founder of Caesar Resorts which has sold over 8,000 apartments in Cyprus and Anthony Pollak of Jupiter Florida and was later joined by U.S and international investors including: Michael Salkind, Joe Lubeck, Schloss Bros.L.P, Peter Friedman and Edwardo Link.

Learn more: https://www.herohomessolutions.com/

Related link: https://www.herohomessolutions.com/

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Aug, 24
2023
Business, Construction and Building, Free News Articles, Real Estate

Prime Goochland County, Virginia Development Land Up for Grabs at Auction

RICHMOND, Va. -- Town hall meetings focused on the future of Centerville in Goochland County reveal neighbors who are keenly aware of inevitable growth and development, with an expressed desire to "grow gracefully," according to Tranzon Key.

The Timmons Group created and presented the Centerville Small Area Plan, a vision to guide future development over the next 10-20 years with an eye to preserving local, rural flavor. "Short Pump is very close and convenient to us. Centerville does not want or need to look like Short Pump," is characteristic of refrains heard during public comment at these meetings.

Local residents are already seeing residential developments springing up - Reader's Branch and Mosaic are a couple of the newer ones, with the Parke and Kinloch as more mature subdivisions. And Goochlanders can't help but notice the recent sale of The Pickle Barrel Restaurant property for $1.6 million, the demise of the truck and Exxon dealers at Hockett and Broad Street Roads, and FOR SALE signs along the I-64 and 288 corridor. What will the future bring?

Luck Stone, the Federal Reserve, Wawa, Main Street Homes, D.R. Horton, Eagle Construction and others have been suitors for land parcels up for sale in the area, with more in the wings.

This could be a great time to pick up land still zoned for agricultural use, but in the bullseye of the Centerville area targeted for prime commercial development, and now, 70+ acres that fit the bill are up for auction on September 13th. Four parcels, north and south of Three Chopt Rd, with road frontage and electricity are being offered for sale to the highest bidder(s).

For more information, please use the link below to visit the listing at Tranzon's website.

Link to auction website:

https://www.tranzon.com/fx2045a

Link to Goochland's Centerville Village Small Area Plan

https://www.goochlandva.us/1201/Goochland-County-Village-Plans-2022

About Tranzon:

In 2000, a group of real estate auctioneers banded together to create Tranzon, LLC, a nationwide network that revolutionized the way real estate professionals bring buyers and sellers together. Today, the Tranzon team features some of the most experienced real estate, marketing, and auction professionals in the business. Using Tranzon's Market-Making System (TM), a proven methodology for the accelerated sale of property, the company has conducted tens of thousands of successful commercial and residential auctions for clients including financial institutions, trusts, guardians, estates, and private individuals. All Tranzon companies are independently owned and operated. Tranzon Key, VAAF 423.

Related link: https://www.tranzon.com/

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Aug, 17
2023
Business, Free News Articles, Real Estate, Restaurant, Hotel and Hospitality

Prime Kilmarnock, Va. Retail Space Up for Bid August 29 as Local Chef Retires After Over 20 Years of Service

KILMARNOCK, Va. -- In the riverine coastal community of Kilmarnock, Jackie Brown is a fixture, known as the head chef and shop proprietor of the Main Street establishment, "Carried Away Cuisine" kitchen and shoppe. What she's known for are her glass cases filled with delectable delights, according to auction firm Tranzon Key, whom Ms. Brown has hired to sell the real estate, kitchen equipment, furniture, and equipment as a package.

For over 20 years, in the combined space of two vintage storefronts, she -- along with sous chef sister Nancy -- feeds, caters, and supplies gourmet olive oils to locals and guests. Now, the sun is coming up over a new horizon in her life. "I'm not getting any younger, and my dream is to live in France!" said Ms. Brown. A woman of action, Jackie found a picturesque old home abroad and will own it come September.

As a huge Kilmarnock advocate, Jackie has actively participated in town civic affairs during her time there and has seen the historic town blossom with revitalization, with a new town-square gathering space, park and amphitheater, attractive streetlamps, and sidewalks. Main Street is the center of retail activity, and surveying it evokes feelings of idyllic enchantment amongst many.

The well-maintained, double-entry storefront that houses "Carried Away Cuisine" charms with vintage, art deco, patterned-tin ceilings, black and white checkerboard flooring, dry goods shelves, and cozy conversation niches.

The 2,500+/- sq. ft. building at 10 N. Main Street is a prime location for retail, restaurant, deli, coffee shop or the business of your choosing. Kitchen fixtures and equipment, as well as shoppe furnishings, sell with the real estate.

Online bidding ends August 29, 2023 at 11:30 a.m. ET.

Appointments are being accepted for an August 22, 2023 tour of the kitchen and prep areas.

For more information about the auction, visit Tranzon's auction listing: https://www.tranzon.com/fx2042

Learn about Kilmarnock in Lancaster County, VA: https://www.kilmarnockva.com/

About Tranzon:

In 2000, a group of real estate auctioneers banded together to create Tranzon, LLC, a nationwide network that revolutionized the way real estate professionals bring buyers and sellers together. Today, the Tranzon team features some of the most experienced real estate, marketing, and auction professionals in the business. Using Tranzon's Market-Making System(tm), a proven methodology for the accelerated sale of property, the company has conducted tens of thousands of successful commercial and residential auctions for clients including financial institutions, trusts, guardians, estates, and private individuals. All Tranzon companies are independently owned and operated. Tranzon Key, VAAF 423.

Related link: https://www.tranzon.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Aug, 15
2023
Business, Free News Articles, Real Estate

Revolutionizing Timeshare Cancellation: Introducing Online Courses as the Affordable and Transparent Alternative to Costly Services

PENANG, Malaysia -- Timeshare Cancellation Mastery, an innovative venture led by Wayne C. Robinson, a seasoned expert in the timeshare industry, has successfully completed its pilot program, marking a pivotal moment in the realm of timeshare cancellation solutions. With over 220 enthusiastic timeshare owners enrolled in their cutting-edge timeshare cancellation course, Robinson's brainchild is poised to redefine the industry by offering a faster, more transparent, and affordable alternative to conventional and expensive timeshare cancellation services.

As a former timeshare sales, marketing, and contracts professional, Wayne C. Robinson recognized a pressing need for a practical and accessible solution for those facing the burden of an unwanted timeshare.

"Timeshare owners often find themselves in a tough spot when it comes to cancelling their timeshares. The traditional services come with exorbitant costs, sometimes upwards of $10,000, making it an unrealistic option for many. That's where Timeshare Cancellation Mastery steps in," said Robinson.

Timeshare And Resort Developer Accountability (TARDA.org), led by co-founder Irene Parker, is championing the protection of seniors, particularly widows, and military personnel from predatory practices in the timeshare industry. Seniors, hindered by health issues, financial challenges, or spousal loss, and military personnel, facing security clearance risks due to timeshare loan defaults, are especially vulnerable. With the support of notable organizations like the Federal Trade Commission and the Consumer Financial Protection Bureau, TARDA aims to ensure fair treatment and legislative changes that prevent exploitation of these demographics by unscrupulous timeshare developers. Through their advocacy, TARDA is shedding light on the need for reform and accountability within the industry, offering hope to those affected by these issues.

"Timeshares pose a risk for any consumer, but for those in the military, a loan default can lead to a loss of security clearances, and possibly involuntary separation from service," said Irene Parker, co-founder of TARDA. Even without a loan, many developers require the member to pay $1,000 or more to give back a timeshare."

In the words of Robinson, the success of the pilot program speaks volumes: "Out of the 220 students who participated, not a single one has come back to me stating that their timeshare was not legally cancelled. I am confident that I have maintained a 100% success rate. Students have unlimited access to me, and while a few encountered challenges with resorts not accepting their cancellations initially, they ultimately succeeded in freeing themselves from the timeshare burden without harming their credit or facing legal repercussions."

"This course was perfect for my needs, and I am now empowered to cancel my timeshare deed without incurring high attorney's fees," said Celine Hermann, one of the course students. "A huge shout out to Wayne Robinson for putting this information together to help vulnerable consumers everywhere."

Robinson's diverse professional background includes being a licensed real estate agent in New Mexico and Pennsylvania, as well as a licensed timeshare salesperson in Nevada. He has facilitated sales across international boundaries, from Canada and Mexico to the Caribbean islands, gaining an unparalleled understanding of the timeshare landscape.

Wayne C. Robinson's extensive experience in the industry and his role as the author of the bestselling book, "Everything About Timeshares," which is now in its fourth edition, solidify his authority in the field. The book has gained a reputation as the definitive guide to the timeshare industry, reflecting Robinson's dedication to empowering individuals with knowledge.

However, Robinson's efforts to bring accessible timeshare cancellation solutions have faced resistance on social media platforms and timeshare owner sites, such as Redweek and Timeshare Users Group.

"It's ironic that I've been blocked from reaching out to those who genuinely seek ways to cancel their timeshares without succumbing to exorbitant fees. People need to realize that they possess the ability to take control. The timeshare industry and homeowners associations have perpetuated the misconception that owners are powerless to cancel. My students stand as proof that it's entirely possible to cancel a timeshare with the right knowledge. This is precisely what I impart in my courses."

Timeshare Cancellation Mastery's pilot program triumph and Wayne C. Robinson's unwavering commitment to empowering timeshare owners stand as a testament to the evolution of the industry. As more individuals discover this transformative solution, the traditional barriers set by costly services are poised to crumble, paving the way for a new era of accessible and transparent timeshare cancellations.

To learn more visit: https://timesharecancellationmastery.com/

About Timeshare Cancellation Mastery:

Timeshare Cancellation Mastery is an innovative online platform founded by Wayne C. Robinson, a seasoned professional in the timeshare industry. The platform offers a comprehensive timeshare cancellation course that equips individuals with the knowledge and strategies needed to cancel unwanted timeshares without incurring exorbitant fees. With a commitment to transparency, affordability, and empowerment, Timeshare Cancellation Mastery aims to revolutionize the timeshare cancellation landscape.

Additional information about Timeshare Cancellation Mastery and Wayne C. Robinson : https://timesharecancellationmastery.com/about-us/

Related link: https://timesharecancellationmastery.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Aug, 08
2023
Business, Free News Articles, Real Estate

The Alliven Group announces new hiring

LAKEWOOD, N.J. -- The Alliven Group, a leading New Jersey-based real estate firm, has hired Sheya Herzberg as a Senior Analyst. Mr. Herzberg will play a crucial role in assisting senior leadership in the oversight and management of the Alliven portfolio as well as the underwriting of new opportunities.

Prior to joining the Alliven Group, Sheya spent years as an analyst for a local real estate consulting and advisory firm, where he was directly involved in assessing and analyzing hundreds of deals in markets nationwide at the pre-acquisition stage of investment. His past experience involved reviewing and scrutinizing operating statements and confirming historical financial performance in order to model accurate proforma cash flows. He also performed market analysis via data and physical inspection, as well as conducting site visits to identify potential Capex requirements and help operators develop budgets and business plans.

"Sheya's extensive financial knowledge and modeling expertise really gives us an edge in reviewing the monthly and quarterly performance of the assets already in our portfolio as well as evaluating new deals in a very thorough way," said Yehuda Newman, Director of Acquisitions at the Alliven Group. "Especially in today's environment, we are super focused on ensuring that our oversight and diligence on each and every deal will be at the highest level, so that we can protect our interests to the greatest degree possible".

Mr. Herzberg takes a hands-on approach when reviewing the financial reports of each asset, ensuring the transparency of information and that expectations are being met.

"I'm excited to join such a sophisticated, growing company," said Mr. Herzberg. "I am looking forward to being able to work on such a diverse and complex portfolio of assets, and the opportunity to interact with a broad spectrum of partners and sponsors."

About The Alliven Group:

The Alliven Group is a private equity real estate firm headquartered in New Jersey with a diverse portfolio of income-producing properties including multifamily, hospitality, and healthcare facilities, as well as some carefully considered development assets. With over three decades of experience, we are known for our keen sense of market trends and timing. Our team successfully identifies opportunities and creates equity through diligent acquisitions, thoughtful development, attentive management, and targeted value-added capital improvements.

Learn more: https://alliven.com/

Related link: https://alliven.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 27
2023
Business, Free News Articles, Real Estate

Seaside Consultants Offers Timeshare Exit Services to People in the U.S.

ENCINITAS, Calif. -- When they first sign up, a timeshare can feel like a dream to the person putting pen to paper. But as the reality of the cost sets in, it can start to look more like a nightmare. Fortunately, there's help. Seaside Consultants Group supports people in exploring their timeshare contract termination options.

With nearly a decade in business, the Group has maintained an A+ rating with the Better Business Bureau (BBB). From their office in Encinitas, California, this team specializes in serving clients who signed contracts under pressure, were misinformed, and /or were misrepresented by representatives of the timeshare company. People who want to terminate their timeshare contract can potentially start the process by reaching out to Seaside Consultants.

The team first assigns a specialist to gather information about the specific timeshare in question, from documentation about the contract to details about the individual's interaction with representatives of the timeshare developer.

Then, the Seaside Consultants Group offers a free consultation. Based on a review of the consultation, analysts inform consumers whether their case was accepted.

Some of the reasons cases might be accepted are situations where the timeshare developer:

* Used high-pressure sales tactics.

* Misrepresented the timeshare (including telling the individual that it was an investment opportunity)

* Failed to fully disclose all the applicable costs (e.g., maintenance fees, special assessment fees)

* Failed to disclose the right of rescission.

* Failed to fully discuss the terms of the financing.

Once Seaside Consultants accepts a case, they assign an attorney to it who specializes in consumer protection laws regarding vacation ownership. The Group also extends a comprehensive credit protection program to its clients. This program is designed to protect consumers from potential credit dips during the timeshare exit process. The full process of exiting the timeshare usually takes around one to two years.

Individuals hoping to get out from under a timeshare can explore their options by contacting Seaside Consultants Group or visiting the company's website - https://www.seasideconsultants.com/ - to learn more.

About Seaside Consultants Group:

Advocating for consumers since 2014, Seaside Consultants Group has maintained an A+ rating with the BBB and a 100% client satisfaction rate as they help people explore exiting their timeshare obligations. The Group specializes in terminating timeshare contracts that were signed based on deceit, misinformation, misrepresentations, and/or high-pressure sales tactics.

LOGO link for media: https://www.seasideconsultants.com/wp-content/uploads/2020/10/logo.svg

RELATED LINKS:

https://www.seasideconsultants.com/timeshare-cancellation-process/

Related link: https://www.seasideconsultants.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 26
2023
Business, Free News Articles, Real Estate, Reports and Studies

LenderLogix Q2 2023 Homebuyer Intelligence Report Data Shows Slight Increase in Homebuying Activity Despite Affordability and Inventory Challenges

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2023.

Pre-Approvals

In Q2 2023, borrowers generated 58,927 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an increase of nearly 11% over Q1. While the average number of borrower logins to QuickQual declined from 12 times in Q1 to 8 times in Q2, loan officers increased their number of pre-approved borrowers by 16% over the period to 28, up from 24 in Q2.

The average pre-approval letter loan amount in Q2 increased by 4% to $302,836 compared to Q1's average loan amount of $292,491. Additionally, the average sales price increased 5% from $334,022 in Q1 to $348,348 in Q2, resulting in an average down payment of roughly 13% versus 12.4% in Q1.

Conventional loans were again the most popular loan type for pre-approved borrowers, with its share remaining virtually unchanged at 71% versus 72% in Q1. Similarly, FHA pre-approval share remained steady at 22% versus 21% in Q1, as did VA (5%) and USDA share (1%).

"Increases in both pre-approval letters generated and average number of pre-approved borrowers per loan officer signal slight improvements in the homebuying market, which is an excellent sign for lenders struggling under recent market conditions," said LenderLogix Co-Founder and CEO Patrick O'Brien. "However, the rise in average sales price, loan amount and down payment indicate that it's only getting more expensive for borrowers to buy so lenders will need to equip themselves with the tools and resources necessary to make homebuying more affordable."

Borrower Conversion

Of the borrowers using QuickQual in Q2 2023, the average number of days between pre-approval and loan submission increased to 89.3 days, compared to 71 days in Q1. The most prolonged duration between pre-approval and application also increased from 622 days in Q1 to 994 days in Q2. The increased length between pre-approval and loan submission did not dissuade borrowers, as conversions from borrowers using QuickQual rose from 56% in Q1 to 58% in Q2, with those borrowers generating an average of 9 pre-approval letters before converting.

"Lack of inventory is certainly one of the main drivers behind the increase in time between when borrowers get pre-approved and when they submit a loan application, which only compounds the challenges facing today's buyers," O'Brien noted. "However, for the loan officers that remain diligent in their outreach to prospects and agents, that effort seemingly pays off. Thus, loan officers should adjust their expectations around the length of today's home search and increase communication during this time to optimize their conversion rate."

Data from the Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 10
2023
Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource Reports on Homebuyer Assistance Programs for People with Disabilities for Disability Pride Month

ATLANTA, Ga. -- In celebration of Disability Pride Month, Down Payment Resource (DPR) has issued a report on the 23 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey towards homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs, this report sheds light on programs specially developed to promote accessibility and inclusivity for aspiring homeowners with disabilities.

For many people with disabilities, the dream of homeownership can feel out of reach. Financial limitations due to reduced employment opportunities or the need for additional support services and difficulty finding accessible housing are just a few common challenges.

An analysis of the 23 programs showcases the range of assistance available to promote homeownership for people with disabilities:

* Financial Assistance Range: The programs offer homebuyer assistance ranging from $10,000 to $109,986.

* Availability: The programs are offered in 12 states across the country.

* Family Caregiver Support: 11 programs specifically extend assistance to family caregivers of disabled individuals, recognizing their crucial role in the homeownership process.

* Accessibility Modifications: Funding from four programs can be utilized to support accessibility modifications, ensuring homes are tailored to the unique needs of individuals with disabilities.

* Layered Assistance: 14 programs can be combined with other homebuyer assistance programs, providing individuals with additional financial support and resources.

* Program Types: The homeownership assistance programs encompass various types, including four affordable first mortgages, 12 silent second mortgages, three soft seconds, one grant, one voucher program, one combined assistance program and one below market rate (BMR)/resale restriction program.

* Forgivable Programs: Four of the programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met, further alleviating financial burdens for aspiring homeowners.

"Homeownership provides individuals with disabilities and their caregivers with greater independence and empowerment," said Down Payment Resource founder and CEO Rob Chrane. "It allows them to have control over their living environment, make decisions regarding accessibility modifications and customize their homes to meet their unique needs. This autonomy fosters self-confidence, dignity and a greater sense of belonging within the community."

"My hope is that this report will raise awareness about the available programs that provide vital support to those who need it most," continued Chrane. "By promoting accessibility and inclusivity, we can help individuals with disabilities and their family caregivers unlock the door to homeownership and all the benefits it brings."

Select homebuyer assistance programs for people with disabilities are profiled at https://downpaymentresource.com/professional-resource/disability-pride-spotlight-on-homebuyer-assistance-programs-for-people-with-disabilities/.

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/.

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,200 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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