US Residential Asset Fund launches as REO-to-Rental fund

US Residential Asset Fund, LLC (http://usresifund.com/), implemented a unique strategy by launching as an REO- (real estate-owned) to-Rental fund. Christopher J. Crippen, the Fund’s manager, announced, “We put together a strategy that allows us to capitalize on the tremendous opportunities available in the REO-to-Rental markets and to support the communities we invest in.

US Residential Asset Fund’s investment strategy is focused on acquiring, renovating, leasing, managing, and exiting distressed single-family properties in multiple U.S. metropolitan areas. Tenants have the option to rent the properties with a “contract for deed,” paving the road to homeownership for those who otherwise would be lifelong renters. The tenants work with the Fund’s strategic partner, Sagamore Home Mortgage, to resolve their credit challenges, qualify for a mortgage, and purchase the home they are renting.

Mr. Crippen, an industry expert, explained, “This is really a unique Fund. We can do something good for the communities we invest in, enable our tenants to become homeowners, and provide double-digit returns for our investors. It’s a win-win-win strategy, which is hard to find in this market. I am proud to be a part of it.”

US Residential Asset Fund was founded by Mr. Crippen, Dana Bradley, Al Espinoza, Patrick Cipolla, and Amos Alexander. Focusing on the $3 trillion single-family rental market, the Fund expects to invest more that $20 million over the next two years, beginning with acquiring assets in the Charlotte, Memphis, and Chicago, MSAs. Phase two acquisitions will be in the Atlanta, Indianapolis, Tampa, Orlando, MSAs.

“My partners, Innotion Enterprises, Inc. (www.innotion.com), and Performance Holdings (http://www.performanceholdings.com/), have been operating in the single-family and REO arenas, and have built a world-class acquisition, renovation, and management platform uniquely designed for these properties,” Mr. Crippen continued. “We work with Sagamore Home Mortgage to work with our tenants to qualify them to purchase our properties.” Christopher J. Crippen formerly headed Prescient Asset Management’s FDIC ORE Disposition.

Mr. Crippen described how the program works, saying, “All of our properties are offered as ‘rent to own’ (RTO) to our tenants. This encourages homeownership in the markets we are investing in. Studies show that RTO tenants take better care of their properties than strictly rental tenants. The benefits are a more secure investment and the ability to give back to the communities in which we invest. It’s a win-win-win situation.”

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Pricing Nation Econometrics Forecasts That The Average Home Value In The Boston Metropolitan Statistical Area (MSA) Will Increase By 1.97 Percent Over The Next Twelve Months

Pricing Nation Econometrics forecasts that the average home value in the Boston Metropolitan Statistical Area (MSA) will increase by 1.97 percent over the next twelve months. A table with the top 10 biggest increases and decreases per zip code can be found below. With housing prices still declining in many parts of the country, Boston Area homeowners should be pleased that their home prices will continue to increase in 2013. The Pricing Nation Econometrics Heat Map (also below) visualizes how the average home prices will vary across zip codes in the Boston MSA. Pricing Nation Econometrics is a division of Pricing Nation LLC, and more information can be found at www.pricingnation.com.

For more information on future changes in individual home values visit us at www.pricingnation.com.

About Pricing Nation
The purchase of a home is historically the largest investment one will make in one’s life. However, due to recent volatility from the Credit and Housing Crisis, home values are not always likely to increase. To ensure that buyers and sellers are confident in their investment decisions, Pricing Nation has developed a portfolio of regression based models that forecast housing price changes at the MSA, zip, and house level. These models are highly statistically significant as they were built using local housing demand/supply and macroeconomic datafrom the last ten years, which saw extreme upward and downward movements. Of particular note is that Pricing Nation’s forecasting model would have anticipated the severe downturn in Boston MSA home values in August 2006, a full twelve months before the actual downturn hit in August 2007, and 16 months before the U.S. officially entered a recession.*

Pricing Nation is offeringitsindividualhome value forecast reports for an introductory price of $19.99 per home (regular price $49.99 per home). Our “The Home Investment Report Card,” displays the actual prediction for the future change in value for your selected hometaking into account the unique characteristics of each home and the surrounding area. In addition, it also providesgradesfor the local and national factors impacting home value, and outlines the significance ofeach factor toward future changes. “The Home Investment Report” card is designed to be easy to use for all homebuyers and sellers as they make one of the biggest decisions of their lives.

Pricing Nation has initially launched its product in the Boston MSA and is expanding its offerings to other cities in the near future.

For more information, please contact Raj Koganti at raj@pricingnation.com

Downturn data reported by S&P/Case-Shiller Home Price Indices, and recession data reported by the National Bureau of Economic Research (NBER)

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EquityRelease.net Publishes New Beginners Guide Factsheet For Equity Release Mortgages

The equity release resource website EquityRelease.net is pleased to announce that they have added The Essential Equity Release Factsheet to the website to provide UK residents with a concise and easy-to-read introduction to equity release schemes in the UK. EquityRelease.net is an independent equity release information resource website that provides a detailed information resource of equity release as well as free equity release advice and quotes.

Many older UK residents look forward to retirement as a time when they can engage in hobbies and activities that were not possible when they worked. Unfortunately, there is growing concern over whether people’s pension and retirement savings are enough to maintain their standard of living and spend their time as they please. As many retiring homeowners look into equity release as a means to provide the income they desire in retirement, the information website EquityRelease.net hopes to answer their basic questions with the addition of “The Essential Equity Release Factsheet” to the website.

“Our goal as always is to help older UK residents understand how equity release in their homes actually works, and the new infographic reduces our voluminous information contained on the website to its most basic terms, primarily using graphics to explain how equity release works,” said an EquityRelease.net representative.

As an introduction to equity release, the fact sheet begins by explaining the basic nature of home equity release. The equity of a home is the current value on the open market minus the debts held against it. Equity release allows the homeowner to obtain cash for this value without having to move out of their home. Equity release is for individuals over the age 55 who own property valued at around £70,000 or more, and most schemes also stipulate a minimum and maximum amount that can be released.

A common question answered by the fact sheet is who can take advantage of equity release. The new infographic shows the general profile of people that routinely take advantage of equity release as well as the eligibility requirements that they must meet to qualify. Many people have a fear of losing their home with equity release schemes so the fact sheet explains the limited risk of losing a home and how it can be avoided.

When it comes to the basics of releasing equity, readers will learn about its two forms, which include lifetime mortgages and home reversion plans, which are both approved and regulated by the Financial Services Authority (FSA). While the Essential Fact Sheet infographic is meant to be an introduction to equity release, readers can find far more detailed information on the website about all aspects of equity release. Website visitors can also take advantage of free advice and a quote provided by one of their specialists. For more information, please visit http://www.equityrelease.net/

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Riba Housing Report Commended By Global Construction Firm

A study by the Future Homes Commission, a body instigated by the Royal Institute of British Architects (RIBA) calling for 300,000 extra homes to be built every year as part of a “housing revolution”, has been welcomed by Homes by Skanska – the UK residential arm of global construction firm, Skanska.

Sue Warwick, Interim Sales and Marketing Director of Homes by Skanska commented: “There have been a number of calls to increase the UK’s housing output over recent years; however the study by RIBA presents the industry with a tangible solution to the housing crisis we are currently facing. With the study proposing such large-scale construction without the need to use government finance, we will be interested to see how the housing minister reacts to this study.

“Notably, it is a step in the right direction to see the report call for a greater focus in design across all new homes, which is something we as housebuilders have a huge responsibility to deliver. Reinforcing calls to build more homes to address the nation’s housing shortage is vital, but of equal importance is the need to create desirable yet affordable homes fit for families and future generations.

“At Homes by Skanska we have begun to show how Scandinavian design principles can be adopted by the UK housing industry to create exactly the kind of practical living spaces proposed by RIBA. High ceilings, large windows and well-planned, built-in storage can be combined with insulation and energy-efficient technologies to balance functionality with desirability.

“The housing sector will no doubt embrace many of the proposals laid out by RIBA in order to make the most of the funding pledged by the coalition in September.”

For more information on Homes by Skanska and its first development, Seven Acres, a group of new homes Cambridge, visit www.skanska.co.uk/homes.

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