Daren Blomquist

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Last quote by Daren Blomquist

Rising interest rates did seem to have a chilling effect on homebuyers using financing, as evidenced not only by the drop in purchase loan originations but also a corresponding rise in the share of cash buyers, drop in FHA buyer share and a rise in the average down-payment percentage in the fourth quarter compared to the previous quarter.feedback
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Mar 03 2017
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Daren Blomquist is associated, including FHA and October. Most recently, Daren Blomquist has been quoted saying: “A house that's been flipped sells on average for $60,000 more nationwide when it's been rehabbed. But we see it as a problem only if flips become too big a part of the market, such as more than 7 or 8 percent of all sales. Nationwide, flips were 5.1 percent of all sales in the third quarter of 2016, but there are some markets, such as Memphis, Tampa, Miami, Las Vegas, Phoenix, New Orleans and Mobile that are getting near or above that danger zone of more than eight percent.” in the article The perfect flip.
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Daren Blomquist quotes

Eventually there will be demand. Some investor will be interested in these properties given the environment we're in and also more interest in the urban infill type of developments.feedback

We believe it's a combination of market conditions that are ideal for selling properties, along with political pressure for banks to deal with these properties and not allow them to linger in foreclosure indefinitely.feedback

While responsible home flipping is helpful for a housing market, excessive and irresponsible flipping activity can contribute to a home price pressure cooker that overheats a housing market, and we are starting to see evidence of that pressure cooker environment in a handful of markets.feedback

A telltale sign is when flippers are acquiring properties at or close to full market value. Those markets are so competitive that even the off-market properties flippers are looking to buy are not selling at much of a discount – and there may be very few distressed properties available.feedback

The key here is that there is particularly a dearth of listed inventory in good condition. That is the inventory flippers are competing against when they sell.feedback

Those lower value properties are appreciating at a slower pace, which is putting women homeowners further and further behind.feedback

The water crisis didn't cause the root problem in Flint that's contributing to these high vacancy rates, but it's going to exacerbate the issue going forward.feedback

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