Single-Family Rental Market Experiencing Shift Toward South and Midwest

first_img Tagged with: Institutional Investors Morgan Stanley Nomura Single-Family Rental Market The Best Markets For Residential Property Investors 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Institutional Investors Morgan Stanley Nomura Single-Family Rental Market 2015-06-04 Brian Honea June 4, 2015 805 Views Subscribe Home / Daily Dose / Single-Family Rental Market Experiencing Shift Toward South and Midwest Servicers Navigate the Post-Pandemic World 2 days ago Previous: Bipartisan Bill Introduced In Congress Aimed At Preventing Fed Bailouts Next: CFPB Fines PHH Corp. $109 Million For Mortgage Insurance Kickback Scheme CoStar, a research organization, reported that single-family rental (SFR) property acquisition is geographically shifting as home prices stabilize and credit conditions ease. Institutional investors have also become more selective in which properties to buy and are more focused on managing their properties, collecting rents, and improving operations.Morgan Stanley, an investment firm specializing in wealth management, investment banking, and sales, and trading services, analyzed a growing trend among institutional SFR operators that are moving away from quickly recovering western markets and heading toward the South and Midwest.Although still at the low end of its projections, the firm believes that this geographical change may help increase mortgage-backed security (MBS) issuance volume. Morgan Stanley analysts also noted that this type of shift affects property quality and realized home price appreciation.The SFR market boomed with news of major property acquisition of distressed properties in the early days in places that suffered greatly during the recession. These places included Phoenix, Las Vegas, and Southern California. “Houses in the West typically were acquired earlier than those in other parts of the country,” the Morgan Stanley analyst reported. “Because of that, those purchases have realized more of the post-recession appreciation. And because home values fell so far in those areas, the magnitude of the recovery in western metropolitan statistical areas was also typically greater.”With the market moving toward the South and Midwest, operating cost are likely to rise, CoStar reported. This will likely happen because institutional buyers are focusing on South and Midwest deals and if operators continue to report spending more on rehabilitation costs as a percent of total cost on properties in the South and Midwest than they do on houses in the West. This could also mean lower-quality properties and/or older homes in these regions, which could lead to higher ongoing expenses.Over the past two years, the SFR mortgage-backed securities market for single family rentals has grown rapidly, the CoStar reported. Institutional owners have brought 18 of these transactions to a total market value of $9.8 billion.However, CoStar notes that portfolio growth has slowed across the eight SFR institutional investors that issue mortgage-backed securities. Nomura estimated that the number of single-family homes owned by these firms increased by 44 percent in 2014, but grew by only 6 percent during the first quarter of 2015.“Looking ahead, Nomura now expects the pace of issuing mortgage-backed securities to slow considerably through the remainder of the year as the institutional investors move from focusing on acquisitions to improving management of their existing portfolios,” CoStar reported. “Assuming that the firms continue to slow their rate of growth and that 40 percent of the total portfolio is funded through mortgage-backed securities, Nomura estimates that the market may see an additional $2.6 billion in issuance through year-end.” Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img About Author: Xhevrije West Related Articles Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Single-Family Rental Market Experiencing Shift Toward South and Midwest Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

FBI: MS-13 Member in Mom-Tot Slaying Added to 10 Most Wanted List

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Juan Elias Garcia, 21, has been added to the FBI’s Ten Most Wanted Fugitives list.The reputed MS-13 gang member who allegedly played a role in the slaying of a young mother and her toddler in Central Islip four years ago is now one of the nation’s most wanted.Juan Elias Garcia, 21, who was born in Santa Rosa de Lima, El Salvador, has been named one of the FBI’s Ten Most Wanted Fugitives for his alleged involvement in the brutal executions of 19-year-old Vanessa Argueta, who he was romantically involved with, and her 2-year-old son Diego Torres.Garcia and two other MS-13 members, Adalberto Ariel Guzman and Rene Mendez Mejia, were identified as the alleged gunman in early 2010. Mejia pleaded guilty to the murders in June 2011 and a federal jury convicted Guzman in September. Garcia, who goes by the nickname “Cruzito,” has successfully evaded authorities ever since—so the FBI is offering a $100,000 reward for information leading to his arrest.“Garcia’s callous disregard for human life resulted in the senseless murder of a young mother and her helpless 2-year-old son,” said George Venizelos, FBI Assistant Director in Charge of the New York Field Office. “His appointment to the FBI’s Ten Most Wanted Fugitives list illustrates not only the seriousness of his crimes but our commitment to seeking justice for his victims.”Garcia, according to authorities, felt like he was betrayed by Argueta, who also had ties to two rival gangs, the 18th Street Gang and the Latin Kings. A dispute between Argueta and Garcia led to a rival gang threatening Garcia, who relayed his concerns to his MS-13 leaders. He eventually received authorization from an MS-13 leader to retaliate against the woman for her perceived betrayal, authorities said.Investigators described a calculated plot that began with Garcia inviting Arguetta and her son out to dinner on Feb. 4, 2010. But Garcia, Guzman and Mejia instead drove the vehicle to a wooded area in Central Islip and lured mother and son into the woods. Once there, authorities said, the gang members fired two shots with a .22 caliber handgun, fatally striking Argueta in the head and chest.When Torres began crying at the sight of his dead mother, the gang members shot him in the head. Miraculously, the boy survived the first shot and got back up and clutched onto Garcia’s leg, but Guzman fired a second—and fatal—shot to the boy’s head, authorities said.Their lifeless bodies were discovered the next day.Heriberto Martinez, the MS-13 leader who prosecutors said authorized the execution, was sentenced to life in prison in December for racketeering as well as charges related to the murder.Authorities warned that individuals with information concerning Garcia should not take action themselves but should immediately contact the nearest FBI office or local police. Sightings outside the United States should be directed to the nearest U.S. Embassy or Consulate.Garcia, who is described as 5-foot, 4-inches tall and 125 pounds, is the 501st person to be placed on the FBI’s Ten Most Wanted Fugitives list.last_img read more

H1N1 FLU BREAKING NEWS: Second wave in China?, on-campus cases multiply, vaccination in Britain, vaccine protest in Germany

first_imgChina showing signs of second pandemic flu waveChina appears to be entering its second wave of the novel H1N1 pandemic, said an epidemiologist at the country’s Center for Disease Control and Prevention who was quoted yesterday in China Daily. Cases are increasing rapidly, and the virus is spreading to small and medium-sized cities. China has had 26,300 known cases but just two deaths, the story said. The World Health Organization reported last week that the seasonal H3N2 flu virus was co-circulating in China with the pandemic H1N1 strain. 20 China Daily storyFlu cases increase on US campusesFlu-like illnesses on college campuses rose modestly last week, with schools in the mid Atlantic region reporting increases, while those in the Midwest, Rocky Mountains, and Southwest still cited robust activity, the American College Health Association (ACHA) said today. The report for the week ending Oct 16 says infections may have already peaked in the Southeast and Northeast. The incidence of flu-like illnesses on member campuses was 20.9 per 10,000 students, 9% higher than a week earlier.Oct 21 ACHA weekly surveillance reportH1N1 vaccinations begin in BritainBritain today became the latest European country to roll out nationwide shots against H1N1 flu, beginning vaccination of front-line health care workers and high-risk hospital patients. High-risk patients in the community will begin receiving shots Oct 26, Reuters reported. Other European Union countries have already begun campaigns, including France, Italy and Sweden, with Germany expected to begin Oct. 26. 21 Reuters reportGerman vaccine roll-out sparks protestA press outcry and political objections are following news that Germany’s H1N1 vaccination campaign plans to use two different formulas: Baxter’s cell culture-based Celvapan for politicians and essential workers and GlaxoSmithKline’s egg-based, adjuvanted Pandemrix for the general public. To defuse the protest, Chancellor Angela Merkel has agreed to receive the GSK vaccine from her private doctor, Agence France Press reported. The story said Celvapan has fewer side effects than Pandemrix.H1N1 found in Japanese swine herdPooled samples from 10 pigs on a 1,000-head swine farm near Osaka, Japan, were positive for H1N1 flu during routine surveillance, according to the World Organization for Animal Health (OIE). None of the pigs died or showed signs of illness. The farm, which raises pigs from birth to slaughter age, is under limited movement control. The finding marks the first identification of H1N1 flu in swine in Japan.Oct 21 OIE reportArgentinean report cites high rate of lung disease in H1N1 casesAn unexpectedly high rate of lower respiratory disease (8%, 166 of 2,135 patients) was found in adults with flu-like illness who were treated at a tertiary hospital in Buenos Aires, Argentina, during the H1N1 outbreak in June and July, says a report in Emerging Infectious Diseases. Although other pathogens were not ruled out, the authors say the finding suggests that “a unique pattern of virulence, pulmonary tropism, or both” may characterize 2009 H1N1 cases. Infectious Diseases letter reportlast_img read more

Gun, bullets send drunken man to jail

first_imgBACOLOD City – A drunken man wasnabbed for illegal possession of firearm in Barangay Caduhaan, Cadiz City,Negros Occidental.  The suspect was detained in the lockupfacility of the Cadiz City police station, facing charges for violation ofRepublic Act 10591, or the Comprehensive Firearms and Ammunition RegulationAct./PN Police arrested Espanola around 10:30p.m. on Nov. 13.    center_img A .9mm-caliber pistol with a magazine,eight live bullets and three empty shells were recovered from 48-year-oldresident Reynaldo Espanola, a police report showed.last_img