June 2022 – Page 5

Kiavi Expands to Alabama, Arkansas and Wisconsin

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Kiavi Continues Strong Growth and Now Operates in 32 States and Washington, D.C. Kiavi, a leading provider of financing to real estate investors (REIs), announced it is expanding its products to three new states: Alabama, Arkansas and Wisconsin. Robust capital, competitive rates and flexible financing solutions from Kiavi allow REIs to confidently maximize returns and focus on scaling their business. The announcement further supports REIs in their bid to reinvigorate the country’s aging housing stock. “We are thrilled to support real estate investors in Alabama, Arkansas and Wisconsin, helping them revitalize neighborhoods in these markets. All three states provide incredible opportunities for our customers to transform aging homes and make them move-in ready for families and truly impact the local communities,” said Michael Bourque, CEO of Kiavi. “We are 5.5 million housing units short in the United States. Current supply chain shortages are already pointing to a slowdown in new construction. With millennials entering their prime home buying years, it is even more important that we, as a nation, work together to close the housing gap and work towards rehabilitating America’s aging housing stock especially at a time when over two-thirds of U.S. homes are over 30 years old. I am excited to extend our products in these three states and I am confident that with our technology platform REIs can make smarter decisions and unlock the true potential of their real estate investments.” Kiavi’s bridge, or fix-and-flip, loans make it easy to purchase and rehab investment properties with flexible, short-term financing and Kiavi’s rental loans make it easy to invest in rental properties with long-term financing options. The new markets provide opportunity to REIs to expand and scale their business. Alabama According to Birmingham Business Journal, Alabama’s business climate is ranked among the best in the nation, with the median home value considerably lower than the national average. Other key facts about Alabama’s housing market include: Median rent in Alabama has increased 12.1% in the last year. Mobile is the sixth-best city to flip homes in America due to its high market potential, low renovation costs and high quality of life. Huntsville, Alabama’s third-largest city, has a younger population compared to the national average which is a great indicator for the market’s future. With a median rent of $1,000 and being listed as the 18th best city to flip houses in the nation, it is a great market to invest in. Realtor.com ranks Birmingham, Alabama as one of the top 25 housing markets for 2022 with a combined sales and price growth of 13.7%. Arkansas Arkansas is the second most affordable state to live in. Its diverse population, robust economy and its natural beauty make it an attractive destination. Key highlights about the best markets to invest in Arkansas include: Little Rock is one of the major markets in Arkansas ranking as the 22 best cities to flip houses in. Bentonville, AR, expects to see a 24% price increase in homes in the next three years. Wisconsin The Wisconsin real estate market continues to grow. In 2021, the median value of a single-family residential property saw an increase of about 34%. Due to improving economic indicators and a lack of existing inventory, supply and demand fundamentals have increased prices for nearly a decade. Some key facts about the Wisconsin housing market include: Milwaukee is the third-most densely populated metro area in the Midwest, just behind Chicago and Detroit. The real estate market in Milwaukee has been described as an unstoppable force. Waiting lists to rent are not unusual with renter occupied homes accounting for 56% of total occupied housing units in the metropolitan area. Kiavi’s expansion into Alabama, Arkansas and Wisconsin closely follows its entry into Indiana and Kansas this year. Kiavi now operates in 32 States and Washington, D.C. For more information, click here. About Kiavi Kiavi uses the power of data and technology to bring lending for real estate investors into the digital age. Through Kiavi’s digital platform, real estate investors are empowered to make smarter decisions, gain access to funding faster, and scale their business. Founded in 2013 Kiavi, formerly known as LendingHome, has grown to become one of the largest lenders to real estate investors in the United States. The company is committed to helping customers revitalize approximately $25 trillion worth of aged U.S. housing stock and provide move-in ready homes and rental housing for millions of Americans1 across the country. For more information, visit www.kiavi.com, and follow us on Twitter. NMLS ID #1125207

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‼️See Below for the Live Explainer Video‼️ Foreclosure Auctions are back on and the opportunities are incredible – minimum 16% return Georgia Tax Sale inventory unlike anything we have seen – 20% Redemption Penalties Fix and Flips/Buy and Hold in America’s hottest market Build To Rent in Georgia’s fastest growing county Foreclosure Auctions: Now that the foreclosure moratorium is gone, inventory is back and we are dominating the auctions every month! It was certainly a struggle to maintain our 16% profit promise during the past two years, but we managed to do so in nearly all circumstances and it is back in place. With auctions back in play, clients are seeing average returns upwards of 24% on flips. Georgia Tax Sales: Tax Sales in Georgia pay a 20% penalty upon redemption and have a remarkably short redemption period of 1 year. PIP-Group has not offered Georgia Tax Sale opportunities to its partners in nearly 5 years, due to the lack of inventory. Inventory the last 3 months has been unlike anything we have ever seen and we are back in the game! In March, we bought 6 properties at the sale, of which 3 have already redeemed, paying our partners a whopping 68% annualized return! Don’t want to own property from a tax foreclosure in Georgia? That is fine, as PIP-Group will buy your unredeemed deeds for the 20% penalty, at the end of the redemption period. America’s Hottest Market: Savannah, GA and its surrounding towns had an incredible increase in home values in 2021. Median home values rose more than 28% on average, with some pockets increasing by more than 35% and there is no end in sight! Last week Hyundai announced plans for a $5.5B manufacturing plant, which will bring 8100 new jobs to the area. It is the largest economic development project in Georgia’s history! (Learn more below) Build To Rent: Bryan County, GA has been the fastest growing county in Georgia for the past 6 years. It is also the 6th fastest growing county in the nation, according to the 2020 Census. There also is a high demand for affordable housing in Bryan County, as they are a suburb area of Savannah, GA and have a large military base, Fort Stewart. As a result, PIP-Group has been buying tracts of land for future development in both Bryan and its neighbor, Liberty County. With the news of the Hyundai plant, it is time to develop, as well as acquire candidate properties ahead of the next big surge. We are looking for investors to partner with us to build out a 16 acre tract of land with approximately 65 modular homes. Why modular? We can develop a project like this in under a year with modular, the process is turnkey and unlike traditional stick built homes, modular are just as storm worthy and cost about 40% less. ‼️Click below to watch Charles Sells go over this opportunity in much greater details‼️ PIP Group can be reached at 877-335-2529

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Latest Report Highlights that Net Inventory Remained Negative in May, with Monthly Net New Listings Decreasing 16.6% Year-Over-Year Median Listed and Closed Prices Increased at a Slower Pace in May Compared to February through April of 2022 Listings Under Contract Nationwide Experienced a 10.9% Decrease Year-Over-Year, Underscoring Slowing Market Activity HouseCanary, Inc. (“HouseCanary”), a national brokerage known for its real estate valuation accuracy, released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between May 2021 and May 2022. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform. Jeremy Sicklick, Co-Founder and Chief Executive Officer of HouseCanary, commented: “In May, we saw the first sign of a potential softening in the housing market as mortgage rates are climbing higher than pre-pandemic levels. It continues to be a challenging environment for buyers, as increased rates, already bloated prices, and short supply leading to competitive bidding has made homeownership more expensive. At the same time, price growth has slowed compared to February through April of this year and listings under contract experienced a double-digit decrease year-over-year, indicating slowing market activity may be cooling as we head into the summer months. Even so, pent up demand still exists in the market currently. Over the next few months, we expect to continue to experience short supply and low single digit price growth.” Select findings from this month’s Market Pulse are below. Be sure to review the Market Pulse in full for extensive state-level data. Total Net New Listings: Since May 2021, there have been 3,150,503 net new listings placed on the market, which is a 4.2% decrease versus the 52 weeks prior Percentage of total net new listings over the last 52 weeks, broken down by home price: $0-$200k: 15.7% $200k-$400k: 38.5% $400k-$600k: 23.0% $600k-$1mm: 15.3% >$1mm: 7.5% Percent change in net new listing activity over the last 52 weeks versus the same period in 2021, broken down by home price: $0-$200k: (-23.4%) $200k-$400k: (-13.4%) $400k-$600k: +13.9% $600k-$1mm: +20.9% >$1mm: +14.6% Monthly Net New Listing Volume (Single-Family Detached Homes): Monthly new listing volume was down 11.6% compared to May 2021 In May, there were 332,965 net new listings placed on the market, representing a 16.6% decrease year-over-year For the month of May, the percent change in net new listing volume compared to May 2021, broken down by home price: $0-$200k: (-27.4%) $200k-$400k: (-26.9%) $400k-$600k: (-8.7%) $600k-$1mm: (-0.4%) >$1mm: +5.4% Listings Under Contract: Over the last 52 weeks, 3,336,319 properties have gone into contract, representing an 8.3% decrease relative to the same period in 2021 Percentage of total contract volume since May 2021, broken down by home price: $0-$200k: 16.4% $200k-$400k: 39.1% $400k-$600k: 22.5% $600k-$1mm: 14.7% >$1mm: 7.3% Percent change in contract volume over the last 52 weeks versus the same period in 2021, broken down by home price: $0-$200k: (-24.0%) $200k-$400k: (-16.4%) $400k-$600k: +7.3% $600k-$1mm: +13.8% >$1mm: +7.5% Monthly Contract Volume (Single-Family Detached Homes): For the month of May, there were 346,276 listings that went under contract nationwide, which is a 10.9% decrease year-over-year For the month of May, the percent change in contract volume compared to May 2021, broken down by home price: $0-$200k: (-15.7%) $200k-$400k: (-18.8%) $400k-$600k: (-2.1%) $600k-$1mm: +1.4% >$1mm: (-7.6%) Median Listing Price Activity (Single-Family Detached Homes): For the week ending May 27, 2022, the median price of all single-family listings in the U.S. was $438,263, a 12.7% increase year-over-year For the week ending May 27, 2022, the median closed price of single-family listings in the U.S. was $430,934,a 14.4% increase year-over-year The median price of all single-family listings in the U.S. is up by 1.1% month-over-month and the median price of closed listings has increased by 1.8% month-over-month As a nationwide real estate broker, HouseCanary’s broad multiple listing service (“MLS”) participation allows us to evaluate listing data and aggregate the number of new listings as well as the number of new listings going into contract for all single-family detached homes observed in the HouseCanary database. Using this data, HouseCanary continues to track listing volume, new listings, and median list price for 41 states and 50 individual Metropolitan Statistical Areas (“MSAs”). About HouseCanary Founded in 2013, national real estate brokerage HouseCanary empowers consumers, financial institutions, investors, and mortgage lenders, with industry-leading valuations, forecasts, and transaction support. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management, and more. Learn more at www.housecanary.com.

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The report spotlights growth and rental trends in the current economy, Build-for-Rent opportunities, and the booming Nashville market Walker & Dunlop, Inc. announced the release of its latest Multifamily Outlook Report—an exclusive look at the apartment market amid last year’s historic growth, recent developments from monetary tightening to the war in Ukraine, and more. The report provides the latest market trends and insights backed by proprietary data from Zelman & Associates, the leading housing research firm in the country. In this edition of the Multifamily Outlook Report, they: Examine the state of the U.S. economy: Despite inflation, rising interest rates, and geopolitical unrest, the underlying fundamentals are strong, with several positive trends and indicators. Provide a rental market forecast from Zelman & Associates: After historic revenue growth and returns, can multifamily anticipate another robust year? Host a Q&A with Zelman & Associates Managing Director Peter Carroll: He shares how the Cristo Rey Corporate Work Study Program benefits both companies and students. Profile—and demystify—Build-for-Rent: Comprised of single-family homes built for renters from the ground up, this space attracted over $50 billion in capital in 2021 alone. Spotlight the Nashville market: The city’s multifamily sector led the nation in new construction growth rates last year. How is innovation turning Music City into a rising tech titan? To learn more about the current state of the multifamily industry and read their data-backed predictions for the future, download the report. About Walker & DunlopWalker & Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology makes us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune‘s Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.

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Zombie Foreclosures Up 3 Percent from First to Second Quarter of 2022 as Foreclosure Activity Increases 13 Percent; Increase in Empty Properties Facing Foreclosure Marks First Gain in a Year; Zombie Properties Still Represent Just One of Every 13,200 Residential Properties in U.S. and Remain Down Annually ATTOM, a leading curator of real estate data nationwide for land and property data, released its second-quarter 2022 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,304,007) residential properties in the United States sit vacant. That represents 1.3 percent, or one in 76 homes, across the nation. The report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology below). Vacancy data is available for U.S. residential properties at https://www.attomdata.com/solutions/marketing-lists/. The report also reveals that 259,166 residential properties in the U.S. are in the process of foreclosure in the second quarter of this year, up 12.7 percent from the first quarter of 2022 and up 15.9 percent from the second quarter of 2021. This is also the third straight quarter that the count of pre-foreclosure properties has gone up since a nationwide foreclosure moratorium, imposed early during the Coronavirus pandemic, was lifted at the end of July 2021. Among those pre-foreclosure properties, 7,569 sit vacant in the second quarter of 2022, meaning that the number of zombie-foreclosure properties went up quarterly by 2.8 percent. “The incidence of zombie-foreclosures tends to be higher in cases where the foreclosure process has dragged on for many months and sometimes even for years,” said Rick Sharga, executive vice president of market intelligence at ATTOM. “We’re now seeing properties where the borrower was already in default prior to the government’s moratorium re-enter the foreclosure process, and undoubtedly some of these homes will have been vacated over the past 26 months.” The number of zombie-foreclosures does remain down 6.3 percent from a year ago and continues to represent just a tiny segment of the nation’s total stock of 99.7 million residential properties. Just one of every 13,171 homes in the second quarter of 2022 are vacant and in foreclosure, meaning that most neighborhoods have none. The portion of pre-foreclosure properties that have been abandoned into zombie status also continues to decline, down from 3.6 percent a year ago to 3.2 percent in the first quarter of 2022 and 2.9 percent in the second quarter of this year. But the recent increase in zombie properties is the first since the moratorium ended. The portion of all residential properties sitting empty in the foreclosure process has grown 1.9 percent in the second quarter, up from one in 13,424 in the first quarter of this year. The upward second-quarter foreclosure trends – in both overall and zombie-property counts – add to a list of measures showing how the decade-long U.S. housing market boom remains strong but also faces a possible slowdown this year. Median single-family home prices have shot up 17 percent over the past year and typical home-seller profits remain historically high, at nearly 50 percent. Homeowner equity continues rising, greatly limiting the likelihood that homeowners facing foreclosure will simply walk away from their homes. “According to our equity report, almost 90 percent of homeowners in foreclosure have positive equity,” Sharga added. “Having equity gives financially-distressed homeowners an opportunity for a relatively soft landing – selling their home at a profit rather than losing everything to a foreclosure. That factor alone should keep the number of zombie-foreclosures from rising too much.” The median home value nationwide went up just 3 percent from the third quarter of last year to the first quarter of this year and home-seller profits have ticked down in 2022. At the same time, investment returns for speculators who flip properties have hit their lowest point since 2008. Beyond that, an estimated 1.5 million to 2 million homeowners fell behind on mortgages after the pandemic wiped out millions of jobs prior to the economy recovering last year. Zombie foreclosures up quarterly but still down annually A total of 7,569 residential properties facing possible foreclosure have been vacated by their owners nationwide in the second quarter of 2022, up slightly from 7,363 in the first quarter of 2022 but still down from up from 8,078 in the second quarter of 2021. Amid numbers that remain extremely low, the biggest increases from the first quarter of 2022 to the second quarter of 2022 in states with at least 50 zombie foreclosures are in Michigan, (zombie properties up 74 percent, from 54 to 94), Arizona (up 56 percent, from 32 to 50), Georgia (up 29 percent, from 62 to 80), Nevada (up 26 percent, from 68 to 86) and Iowa (up 17 percent, from 132 to 155). The biggest quarterly decreases among states with at least 50 zombie foreclosures are in Massachusetts (zombie properties down 13 percent, from 62 to 54), Missouri (down 13 percent, from 63 to 55), New Jersey (down 7 percent, from 275 to 257), New Mexico (down 3 percent, from 78 to 76) and New York (down 2 percent, from 2,074 to 2,041). Overall vacancy rates down annually in most of nation The vacancy rate for all residential properties in the U.S. has dropped to 1.31 percent in the second quarter of 2022 (one in 76 properties). That’s down from 1.37 percent in the first quarter of 2022 (one in 73) and from 1.42 percent in the second quarter of last year (one in 70). States with the biggest annual drops are Tennessee (down from 2.42 percent of all homes in the second quarter of 2021 to 1.55 percent in the second quarter of this year), Oregon (down from 1.84 percent to 1.01 percent), Maryland (down from 1.67 percent to 1.05 percent), Wisconsin (down from 1.36 percent to 0.76 percent) and Minnesota (down from 1.54 percent to 0.95 percent). Other high-level findings from the second quarter of 2022: Among metropolitan statistical areas in the U.S. with at