Demand Propels Home Prices Upward 2 days ago Print This Post Are Recession Fears Overshadowing Actual Market Trends? The Best Markets For Residential Property Investors 2 days ago Share Save Sign up for DS News Daily market correction Recession 2020-01-14 Mike Albanese Tagged with: market correction Recession Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Krista F. Brock Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago 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. Servicers Navigate the Post-Pandemic World 2 days ago January 14, 2020 2,530 Views Home / Daily Dose / Are Recession Fears Overshadowing Actual Market Trends? The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Linking the Housing Affordability Crisis and Homelessness Next: Wells Fargo, JPMorgan Announce Q4 Results Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Many seem to be waiting on bated breath for signals of an economic recession, reading into even seemingly positive headlines with apprehension and signs of another recession that mimics that of 2008. Others insist we are not on the cusp of economic doom and are unlikely to see a recession, especially one with such vast implications in the housing market as the last. Are we so preoccupied with these broad trends that we are missing something already transpiring? Perhaps this is the case. Daren Blomquist, VP of Market Economics at Auction.com, said in an article this week, “With so much focus on monitoring for the launch of another economic recession, an emerging home price correction could be taking flight under the radar.” Home price correction is already transpiring, and the industry is beginning to see some weakening of the housing market. According to a December report from BuildFax, the chance of an impending economic recession peaked in September of last year and was down to 42% by the end of the year. However, home prices are expected to decline in one quarter of local real estate markets, according to the 2020 Housing Forecast from realtor.com. At the national level, prices will increase just 0.8%, while prices in some previously hot markets will decline. Blomquist emphasized that “these local market declines won’t be driven by an economic recession or by destined-to-fail mortgage products, but by migration patterns triggered in large part by buyers chasing affordability—a trend that was already evident in 2019.” Already 13% of local markets posted annual price declines in Q3 2019, according to Auction.com’s analysis of data from ATTOM Data Solutions. Several higher-priced markets were among those that posted price declines. For example, prices in Bridgeport, Connecticut, dropped 4.8% over the year in Q3 2019, while prices in San Jose, California, dropped 3.2%. The nation is beginning to see new migration patterns that follow affordability. Already, some expensive markets, especially along the west coast, are experiencing new migration trends as residents leave to pursue more affordable housing elsewhere. On the other hand, markets in Arizona, Nevada, and Texas are experiencing an influx of residents leaving expensive markets in California, according to realtor.com. At the same time, residents from expensive markets in the Northeast are seeking affordable options in the Carolinas, Georgia, and Florida. “The move to affordability trend will continue in 2020, fueled by the twin forces of Baby Boomers retiring and seeking sunnier weather, lower taxes and lower cost of living, and Millennials searching for family-friendly lifestyles and affordable housing,” according to realtor.com. While slowing and depreciating home prices may help bring affordability to some markets, Blomquist also pointed out some negative effects, including lower home equity and a potential for an uptick in home loan defaults. He pointed out that homeowners often rely on home equity as a “safety net” in the case of a loan default. Particularly, recent homebuyers with loans backed by the Federal Housing Administration may be vulnerable as they have little or no equity at their disposal. Total “tappable equity” is now on the decline, falling 1% in Q3 2019. However, it was still up 5% from a year earlier, according to data from Black Knight. Another recent market development that can make the market vulnerable is the large sales of non-performing loans. About 42% of former GSE loans sold in NPL sales have fallen into foreclosure, and another 24% remain unresolved. in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Subscribe
The World Minigolf Championship for the Deaf, which is being held for the first time in Croatia and in the world, and the World Adventure Golf Master Championship, which brought together competitors from five continents, officially opened with a solemn ceremony on Friday night.The competitive part of both championships starts on Monday, September 11 and will last for two days, and the Croatian national team is also fighting for the title of the best. “This is the seventh Adventure Golf Master in which the largest number of competitors from different countries participates and has gathered the best golfers in the world. It is a great pleasure for us to play on great pitches that are located in a great environment. ” said Mislav Bjazic, president of the Croatian Golf Association.In addition to the World Minigolf Championship for the Deaf and the Adventure Golf Master, the World Minigolf Championship is next week at the Zaton Holiday Resort (September 20-23). “The best golfers came to Zaton Holiday Resort and we are proud to have fulfilled the initial goal, which is the participation of competitors from five continents and to connect all people in this way. We are happy that the team from Ghana, despite the visa problems, finally managed to come and participate. ” said Gerhard Zimmerman, president of the World Minigolf Federation.However, the story has already begun to develop well through various extensions, but the important point and message is how it came about. It was created out of a desire for such important quality content.Mini golf today is more than 12 holes and concrete slabs, today mini golf is a real experience and attractionIt is sometimes difficult to describe the experiences in words, so for me at the moment, to describe what Zaton Adventure Golf looks like, I am attaching pictures. As I have personally been to these stories, I can confirm with certainty that playing mini golf with the family in this setting was a real experience and an unforgettable experience, especially the drawbridge ride with my son. Experiences are remembered, and I remember Zaton. When I see those old concrete mini golf courses in our destinations today, darkness falls on my eyes, not to mention that most of them have not been renovated for years. But mini golf from the eighties has evolved into a real small town of experience and fun.Zaton Adventure Golf has miniature replicas of cultural and historical monuments on each of the 18 holes, from amphorae, the remains of a Roman temple from Nin, the Kaštelina tower to all the churches of St. Nikola, and Zaton Adventure Golf is the first competition course with an official license in Croatia. “Continuous investment in raising the quality of the tourist offer of the settlement as well as in the creation of new facilities is a sure direction towards strengthening before and after the season. By investing in mini golf courses, we have opened the way to a new tourist segment. It is worth mentioning that the Germans, our most numerous guests, are the number one golf nation”Said Ivo Bobić, director of the settlement.At the beginning of the year, the Grand Prix championship in mini golf was organized, and the above-mentioned World Minigolf Championship for the Deaf is underway, as well as the World Adventure Golf Master Championship, which serve as additional values and certainly one of the good links for extending the tourist season and additional earnings. . I constantly emphasize, so to repeat the material, the motive for coming is not accommodation, but a diverse, high quality and authentic content of a tourist destination.With the construction of two new mini golf courses, Zaton has become a unique center of its kind in the world, the only location with 3 types of courses; Miniature, Adventure and Felt Golf, and Zaton Adventure Golf investment is worth about two million kuna.Also, what is especially exciting is that the entire Mini golf course is unique because it tells an authentic story about the destination through the positioning of tourist facilities / symbols. By playing mini golf you can get acquainted with authentic features such as Nin Cathedral, Old Croatian ship Condura Croatica, Glagolitic alphabet, Kaštelina Tower, ancient port of Nin, ancient crane, millstone, etc. ako and if you get acquainted with the story, then you want to experience it live .Experience, experience and only a quality experience is the only recipe for long-term success, and modern mini golf courses are certainly all that – great additional quality content and experience.