Comparing Home Seller Profits With Median Down Payments

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Down Payment Home Sellers Homebuyers Profits real estate sellers Zillow 2018-06-28 Krista Franks Brock Share Save Comparing Home Seller Profits With Median Down Payments The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home sellers in 2017 made a median profit of about $39,000 in 2017, according to data Zillow released recently. Having owned their homes for about eight and a half years, their profit return was about 21 percent. With 71 percent of sellers in the market for a new house though, the question remains, how easy is it for them to purchase a new home at today’s prices, even with their newfound returns.Zillow calculated the typical length of time a 2017 seller owned their home before selling and then found the median price gain on sales in major U.S. metros. It then compared this gain to the price of a 20 percent down payment on a median-priced house in April 2018.At a national level, the $39,000 returns sellers reaped in 2017 was not enough to cover a 20 percent down payment on a median-priced home, which comes to about $43,000, the study found. In fact, in 25 of the 33 metros, Zillow covered profits earned in 2017 fell short of a 20 percent down payment in the same market today. In New York, the nearly 15 percent gain translated to $46,000 in earnings. While that is above the level for a 20 percent down payment at the national level, in New York, a 20 percent down payment is significantly higher, about $84,960. In Chicago, sellers faired similarly, gaining $19,900, which is less than half what is needed for a down payment in the metro—about $43,600The outliers, where home sellers did earn enough to cover a down payment in their market, included a handful of high-priced markets in the West. In San Jose, California, homeowners reaped $296,000 in profit after owning their homes for almost nine years. This was more than enough for a $252,780 down payment on a median-priced home in the area. In fact, this profit was higher than the national median home price. In percentage terms, San Jose ranked highest for median percent change in price between home sales with a 53.8 percent increase. San Francisco (45.5 percent); Seattle, Washington (44.7 percent); and Portland Oregon (37.6 percent) also posted high rates of return. As in San Jose, sellers in these markets can afford a down payment on a median-priced home with the profits earned on the sale of their home. The good news for the sellers in those markets where they did not earn enough for that 20 percent down payment is their earnings still often give them an edge over first-time buyers.  Today’s sellers “typically are buyers as well, but the profits from the sale of their former home give them an advantage over first-time buyers who may be coming in with smaller down payments,” said Aaron Terrazas, Senior Economist at Zillow. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. About Author: Krista Franks Brock June 28, 2018 1,234 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Subscribe Tagged with: Down Payment Home Sellers Homebuyers Profits real estate sellers Zillow Previous: DS News July: How Tech Is Transforming Mortgage Servicing Next: HUD Approves Florida Disaster Plan—What You Need to Know The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Comparing Home Seller Profits With Median Down Payments Sign up for DS News Daily last_img read more

Kindred Says Relax with new casino integration

first_img Kindred marks fastest route to ‘normal trading’ as it delivers H1 growth July 24, 2020 Mace launches EQ Connect to solve the industry’s ‘single view’ conundrum on identifying risk  August 10, 2020 Unibet backs #GoRacingGreen as lead racing charity  July 28, 2020 Submit Share StumbleUpon Share Related Articles Multi-brand operator Kindred Group has gone live with Relax Gaming’s table games, with further casino content to be integrated in the coming months. The supplier’s premium, cost-effective roulette and blackjack titles have been made available to the group’s brands, including Unibet, MariaCasino, and 32Red.Relax’s roulette sits on a proprietary RNG engine, and showcases accurate ball movement, while blackjack players will be able to play three hands simultaneously using the same random draw mechanism.Fredrik Kjell, Head of Gaming at Kindred Group, whose Unibet brand is already supplied with Relax Gaming’s award-winning poker and bingo products, said: “We’ve enjoyed real success with Relax Gaming’s products and are excited to be building on this now with further casino content.“Our brands pride themselves on providing a quality user experience to all casino players, which means integrating the latest titles from innovative operators such as Relax Gaming.”Patrik Österåker, Relax Gaming’s CEO, said: “Kindred has won numerous awards for their casino offering in recent years, so for them to incorporate our new table games is testament to the hard work our team is doing.“We want to build on our already-strong partnership by delivering more cost-effective titles which will appeal to various demographics and types of casino player.”Relax recently moved to strengthen their product distribution with the appointment of former NetEnt executive Simon Hammon as Chief Product Officer. He was joined by Andrew Crosby as Head of Account Management.last_img read more