January 1, 2019 By Jennifer Rachel Baumer Leave a Comment Nevada’s luxury home market is growing. New residents flocking to our state bring with them equity from cities with more expensive housing markets and unfriendly tax environments, and find they can buy a whole lot more house for their money. In 2017, 300 homes priced at more than $1 million sold in Southern Nevada. By the end of November 2018, 392 homes had sold. In Tahoe, by the end of October, 193 homes, listed at more than $1 million had sold, a 58.2 percent increase over the same period in 2017. People are buying luxury homes in Nevada, but what does that mean? Making a Luxury Home What makes a home luxury? Once upon a time, it was the materials, style and location. Location still matters, and so does price, but buyers today are also looking for comfort, convenience and technology, which is part and parcel of the other two prerequisites. “Nationally, the real estate industry tends to arbitrarily say that the … [Read more...] about Living Large: Nevada’s Luxury Home Market
Releasing equity to buy second home
By Louis Hansen | [email protected] | Bay Area News Group PUBLISHED: August 9, 2018 at 6:00 am | UPDATED: August 9, 2018 at 9:39 am The Bay Area continues to lead the state in shattered home-ownership dreams. Record home prices and rising interest rates have pushed statewide home affordability rates to a 10-year-low. In the Bay Area, fewer than 1 in 5 residents can afford to buy into one of the nation’s most expensive real estate markets, according to a study released Wednesday by the California Association of Realtors. “It’s not the worst I’ve ever seen, but it’s pretty darn close,” said Dave Walsh, vice president at Alain Pinel in San Jose. “It’s a challenge for any segment of society.” A swirl of forces has made the region too pricey for even double-income families: a shortage of new housing, booming job growth bringing more professionals to Silicon Valley, and interest rates ticking up from recent lows. The … [Read more...] about Fewer than 1 in 5 residents can afford a home in Bay Area
Helping homebuyers with down payments is one way to mitigate the affordable housing crisis. “What we do to make buying a home more affordable is offer down payment assistance,” said Cris White, the executive director and CEO of the Colorado Housing and Finance Authority. “What we have learned over the many years of doing this is cash flow isn’t typically the barrier to owning a home.” White and five other panelists discussed how state and local housing finance agencies play a critical role in affordable and workforce housing availability at a forum last Friday. The panel event was sponsored by the Housing & Building Association of Colorado Springs at Centennial Hall in downtown. When a person or family is ready to own a home, White says it’s because they believe they can afford it. “They are employed; their credit score is good, and their debt and equity is where it should be,” he said. “The biggest barrier is coming up with the … [Read more...] about Down payment help makes homes more affordable
Equity Bank Franchise Includes Offices in Liberal and Hugoton, Kansas and Blue Springs, Missouri WICHITA, Kan., May 07, 2018 (GLOBE NEWSWIRE) -- Equity Bancshares, Inc. (NASDAQ:EQBK), (“Equity,” “we,” “us,” “our,” “the Company”), the Wichita-based holding company of Equity Bank, announced that it closed its mergers with Kansas Bank Corporation (“KBC”), parent company of First National Bank of Liberal/Hugoton (“FNB”) in Liberal, Kansas and Adams Dairy Bancshares, Inc. (“Adams”), parent company of Adams Dairy Bank, in Blue Springs, Missouri on Friday, May 4, 2018. /EIN News/ -- Equity’s four-state franchise now includes 48 local bank offices in Kansas, Missouri, Arkansas and Oklahoma. Following the consummation of the mergers, Equity has approximately $3.6 billion in consolidated total assets, including $2.4 billion in loans, and $2.8 billion in deposits. “We are excited to add … [Read more...] about Equity Bancshares, Inc. Closes Mergers with Kansas Bank Corporation and Adams Dairy Bancshares, Inc.
/EIN News/ -- BURLINGTON, Wash., April 30, 2018 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink:SVVB), the small bank holding company for SaviBank, today reported first quarter 2018 earnings grew 82% to $661,000, or $0.04 per share, compared to $363,000, or $0.02 per share in the first quarter of 2017. In the fourth quarter of 2017, the net loss was $1.14 million, which included the $1.49 million valuation charge for its deferred tax asset (DTA). Profitability was fueled by 15% loan growth and 36% deposit growth year-over-year, excellent asset quality and strong net interest margin. All results are unaudited. “We are continuing to build our franchise, implementing plans to expand our branch network, investing in technology and recruiting seasoned bankers while establishing and deepening our customer relationships,” said Michal D. Cann, Chairman and CEO. “The markets we serve in Northwest Washington continue to generate excellent … [Read more...] about SaviBank First Quarter 2018 Profits Increase 82% to $661,000; Loans Grow 15% and Deposits Increase 36% Year-Over-Year