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Home Prices Could Continue to Rise Into 2023, Says Bank of America

Pro Builder

Home Prices Could Continue to Rise Into 2023, Says Bank of America. Bank of America predicts that home prices across the U.S. While climbing mortgage rates could pour some cold water on the housing market over the long term, Bank of America says it could increase buyer urgency—as they rush to lock in rates—in the short term.

Banking 98
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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage. The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted," [Marina] Walsh said.

Banking 52
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First-Time Homebuyers Are Facing One of the Least Affordable Markets in US History

Pro Builder

Housing costs continue to outpace household income, creating, in some cases, an insurmountable barrier for younger generations to achieve homeownership. The group’s Purchase Applications Payment Index (PAPI) rose 0.5% in April to a record high of 172.3, respectively, the highest in the country.

US 52
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Everyone Wants in on Housing Flipping

Pro Builder

One Long Island-based house flipper says now is the best time to be in the business, but finding inventory to rehab is the hard part. Fixer-uppers are fighting over limited stock as the foreclosure moratorium closes off a usually solid stream of inventory. There have been hardly any losses, and 8% for one-year paper is extraordinary.”.

Housing 52
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West Virginia Incentives and Workforce Development Guide

Buisness Facilities Contributed Content

Indirect Loans: The West Virginia Economic Development Authority provides a loan insurance program through participating commercial banks to assist firms that cannot obtain conventional bank financing. This program insures up to 80% of a bank loan for a maximum loan term of four years.

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Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. The concept of profit is somewhat broad and only looks at income and expenses over a certain period, say a fiscal quarter. Keep your inventory as low as possible. Cash is king!

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Unique Bookkeeper Errors Reduce Contractor Profits

Contractor Bookkeeping

Excessive Accounts Were setup to track individual inventory items like lumber, nails, paint, pipe, roofing material, dirt, bark etcetera. Financial Reports Were Worthless Profit & Loss Reports showed massive income because Cost of Goods Sold (COGS) accounts were understated. The Key Colum - Is the Percentage (%) of Income.