Source = e-Travel Blackboard: C.C Sportsnet looks to capitalise on global growth with the launch of its new media arm, Mummu Media Sportsnet Corporation has restructured its organisation, with a significant portion of its activities to be managed under the newly created entity, Mummu Media. Sportsnet, a pre-eminent dedicated sports travel group, transferred selected activities and rights to the new entity on 13 September 2010. Sportsnet CEO at the time, Adam Jacoby, stepped down from the position to assume the role of managing director of Mummu Media. Mummu Media will operate the global media, rights and advisory activity for the Sportsnet group of companies and assume independent commercial activities, particularly in the white label online travel sector, a statement from the company said. The white label and pipeline business activities of Sportsnet, which include: Polo World Travel, Racing World Travel, FuelTV World Travel, Eezego1, Phil Anderson Cycling Tours and UCI Travel, have been transferred to Mummu Media, as have major rights activity and a new advisory service for the media and sport industries.“The board of Sportsnet Corporation has made an insightful and exciting decision to allow the core business to run in parallel to its entrepreneurial and market leading media activities and both will now have the freedom and support to flourish in their own right,” Mr Jacoby said.
Month: August 2019
Recommendations for added efficiency will be applied by Perth Airport. Image: PerthNow Source = e-Travel Blackboard: P.T Reduced arrival spacing has been suggested as a means to minimise delays, enhance operations and increase capacity at Perth Airport.Airservices Australia and the United Kingdom’s air navigation service provider, UK NATS, released findings from their July 2012 jointly-funded study, indicating measures necessary in maximising the airport’s efficiency.Perth Airport has responded positively to the 45 recommended amendments.“Perth Airport is well advanced in implementing the 13 recommendations relating to our operations”, Perth Airport chief executive Brad Geatches said.“We are confident that if Airservices Australia implement the 25 recommendations relating to their procedures and airlines cooperate with the remaining seven recommendations, significant improvements can be made at Perth Airport.”Perth Airport will employ a schedule coordination system by early 2013, allocating landing and take-off slots at the airport and aiding in airport management during peak operational periods.“At the moment, we have a significant peak morning departures period, from 6am to 8am every Tuesday to Thursday… There is more than sufficient airfield capacity to meet demand, however, the practices of some airlines and Airservices Australia have not seen optimal usage of the infrastructure,” Mr Geatches said.“The report highlights that mid-week morning congestion, driven by first-in first-out departures, can only be addressed by continuing to spread airline schedules, or by constructing a third runway.”
Source = ETB News: Lewis Wiseman The chair of Tourism Accommodation Australia (TAA), Mr Tony South, has announced that he will step down as chair in the lead up to the formation of a new, unified organisation.Mr South’s announcement follows the resignation of TAA Managing Director of Rodger Powell, who left the organisation at the end of September.Australian Hotels Association president, Peter Burnett has thanked Mr South and Mr Powell for their contribution in establishing TAA as a powerful and highly effective advocacy body.“Together, Rodger and Tony have worked tirelessly to achieve the best outcomes for the accommodation sector, they are widely respected across the industry for their insight and drive, and during their time at TAA, they made significant progress with Government,” said Mr Burnett.Tony South was chair of TAA for nearly three years, and will retain his involvement in the industry through his recent appointment to the Board of Tourism Australia.The pair leave TAA as the organisation works towards a new joint venture with the Accommodation Association of Australia (AAoA) to create a single organisation to represent the accommodation sector.A Steering Committee, established by the AHA and AAoA, is currently drawing up plans for the new organisation, with a board and new chair for the organisation expected to be appointed by the end of the year.
Join TravelManagersbecome a PTM today Japan National Tourism OrganizationVisit Japan Source = TravelManagers Australia About TravelManagers TravelManagers operates in all Australian States and is a wholly owned subsidiary of House of Travel, Australasia’s largest independent travel company which has a forecast turnover of $1.5 billion for 2015. TravelManagers is a sister company to Hoot Holidays, also owned by House of Travel, and has more than 480 personal travel managers throughout Australia with a dedicated support team at the company’s national partnership office in Sydney. TravelManagers places all customer money in a dedicated and audited Client Trust Account which is separate from the general business accounts, ensuring client funds are only used for client purchases. Victoria-based TravelManagers’ Business Partnership Manager Scott Hallo joins Tatsuya Tanaka (Kumamoto Prefectural Tourism), Judy Luxton (GM, Japan Holidays), Ken Takenaga (Kumamoto Prefectural Tourism) and PTMs Naomi Liss, Theresa Kwong, Tanya Barker and Claire Kilcullen for a teppanyaki lunch and destination update.Japanese Spring Fling for Personal Travel ManagersThe opportunity to enjoy an authentic Japanese meal and meet with Japanese tourism industry delegates was too enticing to pass up for a group of Victoria-based personal travel managers (PTMs) from TravelManagers.The group were hosted by Japan Holidays, which is a specialist destination partner supplier to TravelManagers, and lunched at Melbourne’s Kobe Jones Riverside Teppanyaki restaurant before a detailed presentation on Kumamoto, a prefecture (province) on Japan’s third largest island, Kyushu.TravelManagers’ Theresa Kwong, representative for Hughesdale, Victoria, says she was very impressed with both the lunch and the presentation.“I was already reasonably familiar with the major Japanese cities and the ski resorts, but I didn’t really know much about Kyushu which is Japan’s third largest island,” she explains. “The main city, Kumamoto, has a population of around 650,000 and we learned that it is most famous for its castle, which is one of Japan’s largest and most complete. The castle itself is home to around 800 cherry trees, making it a popular spot for the Japanese spring pass-time of hanami, or cherry blossom viewing.”For Kwong, the presentation offered her the opportunity to learn more about a part of Japan with which she was less familiar.“Japan is such a great destination for Australians: it’s in the same time zone as the East Coast so there’s no need to worry about jetlag, it’s safe, the people are very friendly and the food is amazing!”Executive General Manager – Michael GazalMichael Gazal, Executive General Manager for TravelManagers, says the company understands that its ongoing success relies in large part on its PTMs having regular access to product training.“We are fortunate to have such a strong relationship with Japan Holidays, who are able to provide our PTMs with access to organisations like Kumamotu Prefectural Tourism. This allows them to tap into the specialist destination knowledge and expertise they need to create fantastic holiday experiences for our clients.”With almost 260,000 Australian tourists visiting Japan in 2014, and numbers expected to rise further over the next few years, Gazal says TravelManagers is looking forward to continuing its close and successful relationship with Japan Holidays.
TIME Hotels appoints new Corporate Director of RevenueTIME Hotels appoints new Corporate Director of RevenueUAE-headquartered TIME Hotels has announced the appointment of Laurent Barelier as its new Corporate Director of Revenue Management and E-distribution as the company looks to develop its strategy and implement growth plans.A graduate of the American College of Greece and holder of an MBA in International Hospitality Management from Cornell University, Paris, French national Barelier has over 17 years’ corporate hospitality experience having worked for a number of successful international hospitality chains both in the Middle East and globally.His career includes senior management roles with Intercontinental in Athens, Greece, Accor Hotels, Dubai, Wyndham Hotel group, Dubai and latterly as a management consultant for the Majestic Tower Hotel, Dubai.“Laurent has a wealth of experience and an in-depth understanding of the requirements of a hotel chain of TIME Hotels stature combined the technical ability from a corporate revenue perspective. These skills, paired with good knowledge of pre-opening strategies and implementation, will be crucial as we look to add to promote our business in Q4 2016 and throughout 2017,” said Mohamed Awadalla, CEO, TIME Hotels. “It’s an extremely exciting time to join the TIME Hotels team as growth plans for the region are gaining momentum as the company looks to expand into new markets. In line with the aspirations of the CEO, I want to support our goals of becoming a major player within the hospitality industry by making the transition into new key gateway destinations in the UAE and across the Middle East easier,” said Barelier.In his spare time Barelier is an active member of AIESEC, the world’s leading youth leadership development organisation, and the Dubai chapter of the Hospitality Sales and Marketing Association International (HSMAI). He is also a member of the Worldwide Fund for Nature (WWF). TIME Hotelsbook your room hereSource = TIME Hotels
ONYX marks first entry to Laos with three Amari hotelsONYX marks first entry to Laos with three Amari hotelsAs part of its growth strategy to introduce its brands across Asia-Pacific, leading international hospitality management company, ONYX Hospitality Group, announces the signing of a partnership agreement with Tang Charoen (TCR) Group Co., Ltd. to manage three Amari hotels in Lao People’s Democratic Republic. This agreement will mark ONYX’s market entry into Laos with the first property set to begin operations in 2017.The Amari property in Vang Vieng is due to welcome its first guests in 2017 while the other two properties in Vientiane and Pakse are both scheduled to open in 2020. Amari’s signature Amaya Food Gallery, Breeze Spa and creative meeting venues will be featured in each property.Commenting on the project, Peter Henley, President and CEO of ONYX Hospitality Group said,“Laos is emerging as one of Southeast Asia’s fastest growing destinations, with the ongoing introduction of new flight routes and tourism infrastructure enhancements. We are excited to enter this market with not one but three Amari properties as part of our continuing regional expansion plans. We look forward to a successful collaboration with Tang Charoen Group to bring Amari to life in this market.”Thai-based ONYX Hospitality Group currently manages 63 properties; 22 projects are under construction; and aims to reach 81 properties by the end of 2018. These three hotels will be added to the Group’s growing Amari portfolio, which presently consists of 14 operating properties and another eight under development. Amari Hotels & Resortsbook your stay hereAbout ONYX ONYX Hospitality Group operates several diverse yet complementary brands –Amari, Shama and OZO – each catering to the distinctive requirements of today’s business and leisure travellers. ONYX reaches beyond its Thai roots to offer innovative management solutions across the Indian Ocean, Arabian Gulf and Asia-Pacific regions. Visit www.onyx-hospitality.com.About Tang Charoen (TCR) GroupTang Charoen (TCR) Group is based in Pakse, Laos, and involved in diverse businesses including construction, entertainment, food and beverage and retail. The Group manages one of the largest construction companies in Laos with experience leading various infrastructural mega projects. The Group’s subsidiary companies include the largest home appliances agent and retailer in Pakse, distributing brands such as Toshiba, Hafele, Dremel, Bosch and Aconatic. TCR also operates a cinema complex in Pakse, and brought the N&B Pizza Crepe franchise from Thailand to Laos. Source = ONYX Hospitality Group – Amari
Helloworld Travel Unites with Australian brandHelloworld Travel Unites with Australian BrandHelloworld Travel is thrilled to have partnered with United Petroleum for a national Easter promotion which will see the Helloworld Travel brand rolled out across 330 sites nationally.As an independent Australian-owned petrol and convenience company, United is one of the fastest growing in Australia. With their strong regional and metro presence around the country, the partnership gives Helloworld Travel network members in regional and city centres the opportunity to connect with a new audience in their own backyard.John Constable, Group General Manager of Retail and Commercial at Helloworld Travel said the partnership is a good opportunity to align with a strong Australian brand to spread the Helloworld Travel message.“Our partnership with United gives us the opportunity as a brand and network to reach even further to Australian consumers. This promotion will take our brand and recognition for our agents all over Australia, and will result in seven very lucky people booking some amazing holidays with their local Helloworld Travel professional” he said.The Easter promotion will give entrants the chance to win one of seven Helloworld Travel Vouchers valued at $10,000, to spend on any destination they like at their local Helloworld Travel agency, with one winner selected in each state. To enter, stop in at your nearest United Petrol Station between 28 March and 1 May, and purchase any two selected products in store.About Helloworld Travel Limited* Helloworld Travel Limited (ASX: HLO) is a leading Australian & New Zealand travel distribution company, comprising retail travel franchise operations, destination management services (inbound), air ticket consolidation, wholesale, corporate and online operations. This includes “Helloworld Travel”, Australia’s largest network of franchised travel agents, as well as our Corporate, Associate, Affiliate and Travel Broker networks, Qantas Holidays, Go Holidays in New Zealand, AOT Inbound, ATS Pacific, QBT, Sunlover Holidays and Insider Journeys* “Helloworld Travel” is a nationwide network of independently owned and operated retail travel agencies offering Australia and New Zealand outstanding service, and the best value, tailor-made leisure and corporate travel experiences* HLO has over 2000 staff located in Australia, New Zealand, Fiji, the USA, South East Asia, India and UK/Europe* Helloworld Travel is the proud major sponsor of:– Volleyball Australia and the Helloworld Travel Volleyroos men’s and women’s national teamsSource = Helloworld Travel
March 6, 2012 426 Views in Government, Origination, Secondary Market, Servicing, Technology Adjustable-Rate Mortgage Agents & Brokers Debt Crisis Euro European Union Fixed-Rate Mortgage Housing Affordability Investors Lenders & Servicers Mortgage Bonds Mortgage Rates Processing Service Providers Treasury Department Treasury Yields Zillow 2012-03-06 Ryan Schuette Share All-time highs for housing affordability persisted this week as interest rates for fixed-rate mortgages hovered near their record-breaking lows, a sign that Europe continues to ward off investors.[IMAGE]Real estate Web site “”Zillow””:http://www.zillow.com/ found only a minor shift for the 30-year fixed-rate mortgage, which lingered between 3.70 percent and 3.75 percent before nestling at 3.69 percent Tuesday.The 15-year loan stayed near 2.95 percent, along with rates for 5-year and 1-year adjustable-rate mortgages (ARMs) that averaged 2.65 percent, according to the Web site.[COLUMN_BREAK]””Mortgage rates rose late last week as positive U.S. economic news offset ongoing concerns about Europe’s economic situation,”” “”Erin Lantz””:http://18.104.22.168/profile/Erin-Lantz/, director of Zillow Mortgage Marketplace, said in a statement.She said rates climbed back down to historic lows as concerns about Spain’s deficit “”renewed doubt about the long-term feasibility of the [European Union’s] fiscal pact.””The fate of Europe remains of chief concern to wary investors, who continue to leave for safe-haven U.S. Treasury debt overseas.Lenders benchmark interest rates for mortgage products against Treasury yields, which expand or contract as investors finance government debt.This week Greece will reportedly ask investors to accept write-downs by more than 50 percent, a debt swap that government officials hope will secure at least 75 percent in participation, according to “”_Bloomberg News_””:http://www.bloomberg.com/news/2012-03-04/greece-debt-swap-deadline-this-week-to-show-if-europe-moving-past-crisis.html.The news service said that the debt swap would meet a critical requirement of the second bailout cleared by euro zone finance ministers last week. Lantz added that Zillow expects rates to fluctuate unless markets react sharply to news from Greece this week. Mortgage Rates Ride Rollercoaster Ahead of Greek Deadline
Data released by “”Freddie Mac””:http://www.freddiemac.com/ shows more than a quarter of borrowers who refinanced in Q4 2012 chose to shorten their loan terms.[IMAGE]According to the GSE’s Quarterly Product Transition Report released Tuesday, 27 percent of borrowers opted to shorten their loan term when refinancing. Sixty-nine percent kept the same term as the loan that they had paid off, while 4 percent lengthened their loan term.Based on year-long data for 12 large metro areas, Freddie Mac found an average 29 percent of borrowers across these metros chose to shorten their loan terms.””Fixed mortgage rates averaged 3.36 percent for 30-year loans and 2.67 percent for 15-year product during the fourth quarter in Freddie Mac’s Primary Mortgage Market Survey, the lowest quarterly averages recorded in our survey,”” explained Frank Nothaft, VP and chief economist at Freddie Mac. “”For borrowers motivated to refinance by low fixed-rates, they could obtain even lower rates by [COLUMN_BREAK]shortening their term. Further, a shorter-term, fully amortizing loan reduces the loan balance faster and builds home equity sooner.””In addition, borrowers who lived in lower-priced metros last year were generally more likely to shorten their term compared to borrowers in high-cost markets. For example, 43 percent of borrowers in the Dallas area shortened their term, while only 14 percent of those in San Francisco did the same.””Borrowers with smaller loan balances can shorten their loan term when refinancing with smaller dollar increases in their monthly payment than borrowers with large loan balances. That’s an important reason why a larger percent of borrowers in a low housing cost market shorten their term when compared to borrowers in very high cost markets,”” Nothaft said.The report also shows that refinancing borrowers overwhelmingly preferred fixed-rate loans last quarter, with more than 95 percent selecting a fixed-rate product. In addition, 83 percent of borrowers who had a hybrid adjustable-rate mortgage (ARM) chose a fixed-rate loan in the fourth quarter–the highest share since Q2 2010–while the remaining 17 percent refinanced back into a hybrid ARM.According to the quarterly report, borrowers who refinanced under the Home Affordable Refinance Program (HARP) were more likely to take out a long-term, fixed-rate mortgage: Out of HARP borrowers who refinanced out of an ARM, more than 95 percent chose a fixed-rate loan, while more than one-third of non-HARP ARM borrowers opted for another ARM. February 12, 2013 426 Views Freddie Mac: 27% of Q4 Refinancers Shortened Loan Terms in Data, Origination, Secondary Market Adjustable-Rate Mortgage Agents & Brokers Attorneys & Title Companies Fixed-Rate Mortgage Freddie Mac HARP Investors Lenders & Servicers Refinance Service Providers 2013-02-12 Tory Barringer Share
Potential Sellers Stymied by Difficult Buying Environment Agents & Brokers Attorneys & Title Companies Credit Availability For-Sale Homes Home Sales Housing Supply Investors Lenders & Servicers Redfin Service Providers 2014-02-05 Krista Franks Brock February 5, 2014 427 Views in Data While homeowners are feeling more confident about the prospect of selling their homes, they do harbor concerns regarding the availability of home financing and the low inventory available for their next purchases, according to the “”Redfin””:http://www.redfin.com/ “”Real-Time Seller Survey””:http://www.redfin.com/research/reports/real-time-market-sentiment/2014/seller-survey-q1-2014.html#.UvKj4PldVe8 released Tuesday.[IMAGE]About 38 percent of home sellers say now is a good time to sell a home, according to the Redfin survey conducted in the first quarter of the year.This is up from 34 percent in the previous quarter and up significantly from 22 percent a year ago.Denver Redfin agent Paul Stone captures survey-takers’ sentiment, saying, “”Most of my home-selling clients worry the most about what will happen after they sell.””””With so much competition in the market, they fear they will have to move in with their in-laws if they can’t find their next home quickly,”” he added.In fact, the top two concerns for home sellers in the first quarter were the low inventory of homes available for their next home purchases and the financing environment, which might preclude potential buyers from being able to purchase their homes.[COLUMN_BREAK]Low inventory was also a top concern in the previous quarter, cited among 30 percent of respondents, but concern about buyer financing is up 5 percentage points from the previous quarter.””These concerns likely reflect higher prices and mortgage rates, which have harmed affordability, and stricter lending regulations that went into effect in January and could impact some buyers’ ability to get a loan,”” stated Redfin analyst Ellen Haberle.Redfin added a new category to its survey, “”competition for next home,”” which was marked as a concern among 27 percent of survey respondents.While sellers have increased their concerns regarding financing, they are substantially less concerned with the overall economy.In the fourth quarter, 39 percent of survey respondents cited “”general economic conditions”” as a concern. In the first quarter, just 26 percent reflected this concern.Mortgage rates played at least a partial role in more than half of current home sellers’ decisions to list their homes for sale, according to the Redfin survey. Fifty-two percent of sellers said mortgage rates were a factor in their decision.More sellers plan to upgrade to a larger or nicer home than to downsize or move to a different location. Forty-four percent of sellers plan to upgrade after selling their current home, whereas 29 percent plan to move to a new location, and 16 percent plan to downsize, according to Redfin.Redfin surveyed 466 homeowners in 22 metros across the country for its quarterly survey. Share
Share Fannie Mae Investors National Association of Realtors Second Homes 2014-06-20 Scott_Morgan in Daily Dose, Data, Headlines, News Given that nearly all the news about the homebuying market these past few years has focused on tight markets, lower-than-expected activity, and mortgages that keep circling the drain, it may seem easy to overlook a basic question—is anyone buying second homes these days?As it turns out, yes. According to a new Fannie Mae report, those with the means are taking advantage of low-interest mortgages and stagnant inventories in Florida, California, Arizona, and other vacation markets to purchase second homes.These homes, which are neither investment properties nor primary residences, have on average made up 4.76 percent of the total purchase mortgage market since 1998, and according to Fannie, that percentage has grown in recent years.The recession, of course, badly wounded second home purchases, but contrary to popular thought, the drop in purchases didn’t last long: “Americans still aspire to buy second homes and have contributed to the growth of the market consistently since its bottom in 2009,” said Fannie Mae’s business analyst David Kopita. And according to the National Association of Realtors (NAR) vacation-home sales jumped almost 30 percent, from roughly 553,000 in 2012 to 717,000 in 2013.According to NAR, the average second home buyer is 47 years old and part of a two-income household. Nearly two-thirds finance their purchases, though most made large down payments to help keep their mortgages even lower.NAR attributes the upswing in vacation homes to healthier equity markets that, according to the group’s chief economist, Lawrence Yun, “has greatly benefited high-net worth households.”According to Fannie, many in the banking industry are taking the increased interest in vacation home purchases as a sign of better times and a budding niche, after years of strangulating new lending regulations and fears of ever writing another loan that might feasibly default. The easier breath is based in the idea that second home buyers are by nature more flush individuals who have better odds of successfully paying down loans.The hottest second home markets are exactly where they should be—Florida, California, and Arizona, where price declines were at their highest. These markets averaged roughly 43 percent drops in home prices between 2006 and 2012, making them ripe for the picking for those with the financial wherewithal to buy.Consequently, the big allure might have less to do with vacationing and more to do with investment: After taking a beating in the stock market, investors have finally realized the age-old way of building wealth lies in real estate, especially when mortgage rates are so low. Fannie Spotlights Second-Home Buyers June 20, 2014 453 Views
in Daily Dose, News, Origination Credit Standards Ellie Mae Origination Insights Purchase Loans Refinances 2015-01-28 Tory Barringer January 28, 2015 460 Views After sliding for four straight months, the share of purchase loan volumes ticked up in December, according to a survey released Monday.Calculating from a sampling of mortgage applications initiated on its Encompass platform, technology provider Ellie Mae estimated this week that home purchase mortgages accounted for 56 percent of lending activity last month, up from 54 percent in November.Before December, purchase mortgage share had been on the decline as falling interest rates spurred more refinancing activity.”While many observers thought rates would rise last year, lenders were instead treated to at least a little more refinancing volume,” said Jonathan Corr, president and COO of Ellie Mae. “The fact that lenders are closing purchase loans at higher rate is great news as we head toward the spring home buying season.”The average 30-year fixed rate in December was 4.25 percent, according to Ellie Mae, slightly down from November.As purchase volumes rose, so did the closing rate for that category: Using a sampling of applications initiated 90 days prior, the company calculated a closing rate of 67.1 percent for purchase mortgages, up from 66.5 percent in November and a record high. The closing rate for refinances stayed flat at 51.2 percent.The time it took to close a mortgage last month was up all around, averaging 42 days for both purchase mortgages and refinances.For all loan types, including conventional and government-backed mortgages, credit requirements were steady over the month, with the average FICO slipping one point to 728 and the average loan-to-value (LTV) ratio holding at 80 percent for closed loans.For denied applications, the average FICO score edged up one point to 679, while the average LTV rose 1 percentage point to 80 percent.In practice, the small changes seem to have had no real effect. According to Ellie Mae, 31 percent of closed loans in December had average FICO scores below 700, the same as a year ago. Purchase Mortgage Share Gains Ground in December Share
in Daily Dose, Headlines, News, Origination June 26, 2016 539 Views In April, pending home sales hit their highest level in more than a decade. Will they continue to rise in May, or will they fall back down to earth? The industry will find out when the National Association of Realtors (NAR) releases its Pending Home Sales Index for May 2016 this Tuesday, June 28, at 10 a.m. EST.The NAR’s Pending Home Sales Index (PHSI), which is based on contract signings, rose by 4.6 percent year-over-year in April to a figure of 116.3 and have now increased year-over-year for 20 consecutive months. April’s level was the highest for the PHSI since February 2006, before the crisis, when it was 117.4.Existing sales continued upward by 1.7 percent in April and another 1.8 percent in May up to an annual rate of 5.53 million, and the strong PHSI report plus low mortgage rates suggest a continuing steady recovery through the summer. However, the long-term weakness among first-time buyers continues to dampen all sales in 2016.”(The April PHSI) report rounds out a triple crown of April home sales reports with existing home closings, new pending contracts, and new home sales all solidly up as the spring buying season ramped up,” said Realtor.com Chief Economist Jonathan Smoke. “Across these metrics, the pace of total home sales is up more than 10 percent over last year, putting 2016 in the pole position to earn the standing of the best year in a decade. Overall, the report is a clear indication that this spring buying season is truly the best in a decade.”Though it won’t be reflected in May’s housing reports, it will be interesting to see how last week’s Brexit vote will affect housing in the U.S. Some economists are predicting that mortgage interest rates, which are already near historic lows (3.56 percent for 30-year fixed-rate mortgages, according to Freddie Mac last week). Greg McBride, chief financial analyst with Bankrate.com, told DS News that “Mortgage rates will tumble, possibly hitting new record lows. If you’re a borrower, don’t wait to lock in your rate, as this opportunity may not last long.” NAR Chief Economist Lawrence Yun said, “Demand for U.S. real estate could rise.”GDP—Bureau of Economic Analysis—Tuesday, June 28, 8:30 a.m. ESTThe Bureau of Economic Analysis will release its third and final estimate for first-quarter growth of the U.S. Gross Domestic Product (GDP). Since the recession, the first quarter has generally been brutal for the GDP, and 2016 has been no exception. The advance estimate for Q1 released in late April came in at 0.5 percent, while the second estimate for Q1 released in late May came in somewhat improved but still weak at 0.8 percent.Housing has not necessarily suffered because of the weak GDP growth in Q1, however.“Real GDP has been on a downward trend since the second quarter of 2015 (growth: 3.9 percent), a result of slower or negative growth in personal consumption spending, private investment, and exports,” said Carmel Ford of the National Association of Home Builders (NAHB), in late May. “It is important to note that although overall private investment has dropped, residential fixed investment growth has accelerated. The residential fixed investment component of GDP grew at a seasonally adjusted annual rate of 17.1 percent in the first quarter, up from 10.1 percent in the fourth quarter of 2015. This GDP component includes the construction of new single-family and multifamily units, remodeling, and other activities related to housing.”While the sentiment for most of the year among economists and analysts was that the Fed would raise rates again in June, the forecasted June rate hike did not happen and a series of recent economic headwinds that include a weak May jobs report (only 38,000 jobs added) and the U.K.’s exit from the European Union have made it unlikely that the Fed will raise rates again for several months.This Week’s ScheduleTuesday, June 28GDP Report, Third and Final Q1 2016 Estimate, Bureau of Economic Analysis, 8:30 a.m. ESTCase-Shiller Home Price Index for April 2016, 9 a.m. ESTConsumer Confidence, the Conference Board, 10 a.m. ESTWednesday, June 29Pending Home Sales Index for May 2016, National Association of Realtors, 10 a.m. EST Share National Association of Realtors Pending-Home Sales 2016-06-26 Seth Welborn The Week Ahead: Can Pending Home Sales Maintain Momentum?
Share in Daily Dose, Data, Headlines, News Inventory is Low, but It’s Lower for Starter Homes The underlying issue in the 2016 U.S. housing market has been tight inventory in general. But it’s actually worse for starter home and trade-up inventory.According to Trulia, the number of homes available to the average first-time homebuyer dropped 12 percent since last year, the steepest year-over-year drop since 2013. Trade-up homes dropped 13 percent. Nationally, housing inventory fell for the sixth consecutive quarter, dropping 9 percent from a year ago.Starter homes availability in 2016 also declined twofold, while the availability of trade-ups dropped fourfold. A year ago, there were nearly 333,300 homes available to first-time buyers. This year, there were 293,000, according to Trulia.First-time buyers are the ones that are impacted the most by a lack of starter homes for sale, according to analysis from the National Association of Realtors.“Having starter home options for new buyers is really important,” said Danielle Hale, managing director of housing research at NAR. “But we do find the majority of first-time buyers tend to buy existing homes, because there aren’t many new homes on the market in the starter home price range.”On top of the declining starter home inventory, buyers are paying 2 percent more to get a starter home in the first place, because the shrinking number of starter homes for sale is driving up prices, according to Trulia. Overall, first-timers spend almost 40 percent of their monthly income on the purchase of a home, Trulia reported. Trade-up and premium homes, however, remain relatively affordable, requiring 25.5 percent and 14 percent of monthly income to purchase, respectively. But all categories are up slightly from a year ago in terms of percentage of income spent.Sacramento, Los Angeles, San Diego, and San Francisco remain near the top of the list of cities least favorable to first-time buyers. So do several Florida cities: West Palm Beach, Sarasota, and Miami. Tacoma, however, saw the largest decline in available starter homes, down nearly 18 percent. A year ago, Tacoma was No. 19 on the list of unfavorable cities to new buyers.Since 2012, eight of the 10 cities where starter inventory has declined the most are in California, according to Trulia. Las Vegas and Miami are the remaining two. On average, these markets have seen starter inventory drop by about 4 percent over the last four years.“A number of markets,” Trulia reported, “reflect persistent unaffordability.” Housing Inventory Starter Homes 2016-12-14 Seth Welborn December 14, 2016 851 Views
Share HOUSING mortgage Movers and Shakers 2017-11-06 Nicole Casperson in Featured, Headlines, News, Servicing November 6, 2017 519 Views ProVest LLC, a national process serving company, announced the purchase of J.J.L. Process Corp. Building 25-plus years’ success supporting the mortgage default servicing industry, ProVest has been expanding in the credit collections industry. By acquiring one of the largest companies in this market, ProVest has both strengthened its presence and proven its commitment to growth in this area. “I am really excited about this union and feel that ProVest has certain managerial abilities and additional resources that can only be of benefit to our clients along with their vast expertise in service of process” JJL Owner and President Scott Levine said.In addition, ProVest CEO Jim Ward said, “We are very excited to have this successful team join our organization. The acquisition will enhance our geographic presence and allow us to benefit from JJL’s extensive experience in the credit collection industry.”ProVest’s financial and organizational strengths will pair with the JJL business, bringing the company to the next level—as the combined nationwide operation will have 26 offices across the U.S. ProVest Acquires New Partner
You might also be interested in November 29 , 2018 Decofrut/edited by www.freshfruitportal.comFreshfruitportal.com is not responsible for the information provided by State of the Market. The contents only reflect analysis carried out by Decofrut. Northern Hemisphere market report for Week 47 (ending November 23)
SamoaSeabreeze ResortTripAdvisor Travellers Choice Awards 2019 The adults only Seabreeze Resort in Samoa has been racking up the awards just a month into the new year, picking up five accolades in just three days.At the 2019 TripAdvisor Travellers’ Choice Awards, Seabreeze Resort won the Top 25 Small Hotels – South Pacific, Top 25 Hotels for Romance – South Pacific and Top 25 Hotels for Service – South Pacific categories.At The Samoa Tourism Excellence Awards 2019 Seabreeze won “Best Deluxe Accommodation” for the third consecutive year and “Standards Committee Hygiene award”.Into its third year, the annual Samoa Tourism Excellence Awards celebrate the standards of excellence demonstrated throughout the local Tourism Industry. The awards are voted by visitors, through guest surveys distributed at Faleolo Airport, Apia and in Apia town by the Samoa Tourism Authority.Co-Owner of Seabreeze Resort, Wendy Booth said, “We are extremely honoured to have won these prestigious awards across so many categories. Whilst recognition in your own country brings immense pride, we are really thrilled to receive the Travellers’ choice Awards which extend beyond Samoa to cover all the South Pacific.”“To be acknowledged at such a high level is a humbling experience and sharing our amazing location and living culture with our guests is a sheer pleasure to us all.“With our team of hand trained staff and a determination to exceed our guest’s expectations we will continue to create a utopia for couples in our untouched Island paradise.”
The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo So, when asked by Arizona Sports 620’s Paul Calvisi about where his team’s focus will be going into a Week 4 matchup with the Tampa Bay Buccaneers next Sunday, Cardinals head coach Bruce Arians didn’t talk X’s and O’s. Instead, he turned his attention to the health of his players.“The biggest thing will be to overcome the injuries and to get young players ready to play and the replacements that are now starters,” Arians said. “I’m pretty sure we’re going to lose a couple of guys probably for the season. “We’ll wait until Wednesday to see how that goes with the X-rays and everything.”Arians didn’t specify which starters could be lost for the season, but any of the three could significantly alter their respective units.Alexander, a Pro Bowler in 2012, has four tackles and a pass deflection in 2013. Acho also has four tackles and added a sack in Sunday’s loss.Johnson, a first-year starter, has 13 tackles this season.“We have to regroup. Change has not been good to us,” said Arians. “I’ve already challenged our guys to accept the change of this week, being in Florida practicing and dedicating everything they’ve got to come out of here 2-2. We can still reach our goals.” 0 Comments Share – / 30 As if getting trounced 31-7 on the road by the New Orleans Saints wasn’t bad enough, the Arizona Cardinals might be facing an ever tougher week ahead given the notable injuries sustained Sunday afternoon.Both special teams standout/outside linebacker Lorenzo Alexander (right foot) and safety Rashad Johnson (finger) left the contest in the first half. And, outside linebacker Sam Acho had to be carted back to the locker room with an ankle injury in the third quarter. Grace expects Greinke trade to have emotional impact Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires Top Stories
LISTEN: Ron Jaworski, ESPN NFL analyst Former Cardinals kicker Phil Dawson retires Top Stories Derrick Hall satisfied with D-backs’ buying and selling The storyline has nearly been flattened to a platitude: The Arizona Cardinals have a lot of replacing to do on defense to repeat their dominance of yesteryear. You know the names — Daryl Washington, Karlos Dansby, Darnell Dockett, Tyrann Mathieu, Yeremiah Bell and now maybe John Abraham. Those are some big shoes to fill for the proverbial “next man up.”But if the unit’s Week 1 performance on Monday Night Football serves as any kind of indication, defensive coordinator Todd Bowles and his revised cast of characters may just be able to pull off the replication. Comments Share The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo – / 61 Facing the high-octane San Diego Chargers offense, which boasted the fifth-best offense in all of football a season ago with an average yards-per-game tally of nearly 400 yards, the Cardinals’ new defensive personnel stepped up big while the old linchpins looked the part.Bowles’ defense held the Chargers to a mild 52 yards of rushing, allowing just 290 yards total — more than 100 fewer than their 2013 yards-per-game average.Now, with Mathieu’s return on the horizon and a confidence-boosting performance in the rear-view mirror, the Cardinals are giving naysayers a reason to change their minds about the team’s 2014 defensive outlook.A guest of the Burns and Gambo show on Arizona Sports 98.7 FM Thursday, ESPN senior NFL analyst Ron Jaworski didn’t hesitate to add his name to the list of believers in Bowles’ defense.“You’re talking (about) some quality football players who were unavailable for the game or got hurt in the game,” he began. “And this is where I tip my hat to coaching. We all know around the National Football League, that’s just the way it is. We hear every week — ‘Next man up, next man up.’ Sometimes those are just words; the next man sometimes plays terrible.” On Monday, it was newcomers Larry Foote, Deone Bucannon, Antonio Cromartie and Tommy Kelly — along with second-year players Tony Jefferson and Kevin Minter — who were next up, and the group led the team in tackles. Foote was the only Arizona defender with more than one tackle for a loss. “This is a well-designed defense,” Jaworski went on. “Todd Bowles puts players in a position to make plays. He wants a mentally-tough as well as a physically-tough defense — those are the attributes that this Cardinals defense has shown.”Last season, the Cardinals boasted the best rushing defense in the nation and they were sixth in total defense and seventh in scoring defense.“So despite all the injuries, you saw the ‘next man up’ play well and be put in a position by Todd Bowles to make plays,” he said.“Those are extraordinary numbers,” Jaws went on to talk about the Cardinals’ Monday Night Football performance. “And I know they’re numbers, but when you look at the tape and you see how they played, they played good, solid defense and that is an outstanding offensive team in San Diego.” Your browser does not support the audio element. Grace expects Greinke trade to have emotional impact
Those totals would be at a much more efficient rate. His pace of 140 targets on the season would be only his seventh highest total of the ten seasons that qualify. Some would attribute that to better quarterback play with Carson Palmer.Fitzgerald joins former Cardinals defensive coordinator Todd Bowles on the list, who qualified as the “best head-coaching hire.” Arizona Cardinals wide receiver Larry Fitzgerald (11) makes a catch against the Baltimore Ravens during the first half of an NFL football game, Monday, Oct. 26, 2015, in Glendale, Ariz. (AP Photo/Rick Scuteri) While the Chris Johnson signing and other transactions by the Arizona Cardinals have been making the headlines, the contract restructuring of Larry Fitzgerald went under the radar.ESPN.com has changed that with its “Ten offseason moves that stand out” list and Fitzgerald made the cut.Best veteran contract resolution: Larry Fitzgerald, Arizona CardinalsHigh salary-cap numbers made Fitzgerald’s contract a burden in Bruce Arians’ first couple seasons as head coach. The way Arians is featuring Fitzgerald suggests the coach has a greater appreciation for the franchise icon he inherited. Getting Fitzgerald’s contract situation settled this past offseason seemed like an important step. Fitzgerald has 55 receptions for 706 yards and seven touchdowns through eight games, putting him on pace to threaten career highs. He finished last season with 63 catches for 784 yards and two scores.The third overall pick in 2004 is making that move seem better week by week, as he is on his way to one of his best seasons ever. The former Pittsburgh star is currently on pace for his highest receiving yards total (1,412) since 2008 (1,431) and the highest receptions total (110) of his career. Former Cardinals kicker Phil Dawson retires Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Derrick Hall satisfied with D-backs’ buying and selling Comments Share Grace expects Greinke trade to have emotional impact