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Daily Dose

Industry, and Stock Market, Reaction to Hudson & Marshall Acquisition

Fidelity National Financial (FNF) announced the acquisition of Hudson & Marshall (H&M), a full-service auction company, Monday. Industry reaction was instantaneous, as was a jump in FNF’s stock. Under FNF’s umbrella, ServiceLink, a provider of transaction services to the mortgage and finance industries, is launching ServiceLink Auction, a full-service auction platform that will provide foreclosure and REO auction services fully integrated with ServiceLink’s suite of products.

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What’s Keeping Homeowners from Moving?

According to a recent report, if American homeowners moved at the same rate they did in 1990, there would have been about 2.8 million more homes sold in 2016. This would solve the ongoing inventory problem, but the fact is Americans just aren’t moving, for a number of reasons. The report cites three possible reasons for a non-moving population: an aging population, pockets of high negative equity, and an increase in single-family rentals.

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Big Cities are Running Out of Space

Cities are starting to run out of space. Especially space-constrained cities like New York have started to run out of room for builders, leading them to move to city-center areas where high-density building is allowed, and charging much higher prices for it. Builders are focusin more on high end apartments with better profit margins, leaving only the wealthiest residents as the ones who can buy.

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“Trading Up” Not so Easy in These 10 Cities

A crowded seller’s market has left some homeowners who want to move into nicer homes frustrated. Though they are getting record-high offers for their starter abodes, when it comes time to buy, their money is not going as far in the trade-up market. Based on seven criteria, here is a list of the 10 hardest places to trade up.

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Easing the Down Payment Burden for Military and Veterans

The amount of down payment assistance programs available dropped very slightly in Q1, but thousands of programs are still out there. A recent report highlights the most important of these programs available to military and veterans. On top of VA loans, veterans can expect to cut down their down payment entirely with these programs.

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The Week Ahead: Low Construction’s Impact on Sales

On Tuesday, at 10 a.m. EST, the U.S. Census Bureau along with the Department of Housing and Urban Development (HUD) will release the New Residential Sales Report for April 2017. With construction activity droppping off slightly, how will sales react?

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Potential Buyers Step Back Even as Mortgage Rates Decline

Potential buyers could be taking a temporary step back from the housing market as the volume of mortgage applications declines even though fixed and adjustable rates continue to fall. Yet, even taking into account the current decline, mortgage rates remain higher than they were a year ago. The average loan size for applications that have been pushed through has also reached a new high.

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Could Dream Homes be a Thing of the Past?

A new analysis of data on the Custom Built Home Market reports that the growth of the market share of custom built homes has slowed yet still remains in fluctuation. The past four quarters, ending in Q1 of 2017, record a two percent increase in the number of custom home starts nationwide compared with the previous four quarters. Experts predict the market will continue to fluctuate in the coming quarters.

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Builders Cutting Down on Starter Homes

Millennials are starting to move into the housing market, but with inventory dwindling they may be out of luck. The solution? Newly built homes. Though millennials are often first time buyers, it does not necessarily mean they are starter home buyers.

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