Click on the CoreLogic logo to read the July 2016

National Foreclosure Report

Feds Choose to Not Raise Rates

in September

The Federal Open Market Committee has

decided to not raise rates again in September

to continue monitoring growth of the economy

after the U.K. chose to leave the EU. It is now

expected that rates will raise in December.

September 2016

Newsletter

National Foreclosure Rates Down – Homeownership

Down Too?

Foreclosure rates this summer in the U.S. were back down to pre-crisis levels, just under 1%. CoreLogic’s

National Foreclosure Report from July showed a decrease of .4% from June’s 1.3% in foreclosures. What

does this mean for the economy? Well, consumer confidence is relatively high, but more millennials are

opting to either live at home or rent, and many from Generation X are still recovering from the recession.

The homeownership rate for that generation is the lowest it’s been since the ‘80’s. Home values and prices

are still high, but the big question being asked… is the market sustainable?

“Mortgage application fraud risk

will likely rise over the next few

years if current trends of higher

LTV purchases and increased

credit availability continue”.

– Bridget Berg (CoreLogic)

New Home Sales the

New Buzz?

Existing-home sales fell by 3.2% in

July and again by .9% in August.

However, new home sales increased

by 12.4% with a total 31% increase

over the year. Will purchasing new

homes become more popular than

existing-home purchases?

There is a growing divide in housing

prices between blue and red states.

The value in blue states is 70% higher

than red and that number is expected to

increase.

The housing market has seen an

increase of $6 trillion in value in the last

four years, 80% of which went to blue

states.

Home values are expected to grow at

the same rate over the next three

years. The divide between red and

blue states will also increase.

“So, did the housing market

rebound red or blue? Blue, but the

rebound is driven by the

geographically differentiated depth

of the crisis.”

- Mark Fleming

(Firstam)

Consumer Confidence

Unchanged Between

August and September

The University of Michigan

consumer sentiment study showed

an unchanged consumer

confidence level between August

and September. However,

consumer sentiment is 3% higher

than September 2015.

“Real personal consumption

expenditures can be expected to

grow by 2.6% through mid-2017.”

-Richard Curtin (Survey of

Consumers)

It’s been a seller’s market for a while now, and though

that is still true, buyers are purchasing with less

urgency. In turn, this gives them more leverage when

negotiating purchase price and terms. The surplus of

buyers and low inventory of homes still gives sellers

the upper-hand, but no longer can sellers sell homes

as quickly as they have been without accommodating

buyers. Read the article here.

Home Appreciation Slowing?

Though the year-over-year appreciation of single-family home prices has

continued to rise, that trend is slowing. June was the fifth consecutive

month that showed that appreciation was the same or lower than the

previous month. Experts don’t believe that the market will make the

transition to a buyer’s market this year, but the slowing appreciation is

making it easier for buyer’s to make purchases at better prices.

Wells Fargo Fiasco

The Wells Fargo scandal is far from cooling off. CEO John Stumpf has appeared before the House Financial

Services Committee and the Senate, denying claims that the fraudulent activity of the massive bank was

encouraged from top management. He claimed that the company is terminating sales goals and apologized to

the public, specifically Wells Fargo customers. 5,300 Wells Fargo employees have been fired since the

discovery.

REO SALES ON THE DECLINE

REO sales hit 5% in June of this year, down from 30%

in 2009. The ‘normal’ 2% mark is expected to be hit in

2019 if the current descending trend of distressed

sales continues.

“While (August’s Employment Situation) was a solid

report overall, it nonetheless fell short of

expectations. Job growth and wage gains both

slowed, while the unemployment rate and labor force

participation remained at previous levels.”

-Curt Long (NAFCU)

10 Tips for Winterization

Smart Technology Taking Off

When renovating or building a new home,

homeowners are taking advantage of smart

technology now available, and are overall more

satisfied with these devices. Security/safety

and entertainment are the top smart features

homeowners are upgrading. Check out the

article to see why homeowners are using this

technology.

5 Common Code Plumbing

Code Violations

Check out these tips to make sure you aren’t

violating any codes when plumbing.

Not Enough Workers?

Great news for the construction industry!

According to a recent Associated General

Contractors survey, many firms are having a

hard time finding enough employees. The most

need is in the South, particularly Atlanta.

Sentinel Field Services recognizes the following Sentinel vendors for their

great work in the month of September:

1. Rob & Renea’s Home Preservation

2. Home Preservation

3. Vasquez Property Maintenance

4. Derrico Construction

There is a new discount

available exclusively to our

Sentinel vendors through

MFS Supply. If you have not

received a field bulletin

making you aware of this

discount, please reach out to

vendor management.

Who we are:

Sentinel Field Services provides property preservation, property inspections, property maintenance, repairs, and more. Sentinel’s success is the direct result of a “Field-First” approach – a realization that clients’ success is largely dictated by what their field services provider does out in the field, not in a centralized headquarters office. Utilizing this approach, Sentinel quickly mobilizes local knowledge and expertise to address any challenges at the clients’ properties.

What sets Sentinel apart:

Passion for Precision: As the company name suggests, Sentinel secures, preserves, protects, and maintains real estate property assets on behalf of its clients, with a similar commitment to precision and performance. Extensive application of Six-Sigma principles drives continual process improvement and increased performance in Sentinel’s quest for ZERO DEFECTS. Doing it right the first time reduces unnecessary expenses and delays associated with re-work. “Field-First” Approach: Local resources support contractors and vendors with deep local expertise to improve timeliness and quality of results. “Zero Defects” Performance: Doing it right the first time reduces unnecessary expenses and delays associated with re-work. 100% Quality Review: Whether by Field Managers in the regional field offices, or by independent QC inspectors contracted by Sentinel to review field results, 100% of all work orders receive a manual review prior to submission to the clients. Deep Industry Expertise: With over 15 years of successful experience in the industry, Sentinel is a valued partner, not just another vendor. Sentinel consults with clients to improve people, processes, and technologies in a way that supports.

Company history:

Founded in 2001, Sentinel has more than 15 years of experience providing all aspects of REO and pre-foreclosure property maintenance, repair and preservation services; and has a proven track-record of providing reliable, high-quality property preservation & maintenance field services. Having consistently received high performance ratings from its clients, Sentinel demonstrates best-in-class performance. As a result of that strong performance, and at the request of our clients, Sentinel has consistently grown its number of properties under management while maintaining high quality and service ratings – successfully expanding its coverage area to meet clients’ needs.

If you are interested in becoming a client, please email info@sfsco.net.

If you are interested in becoming a vendor for us, please click here.

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