Governor Douglas today announced that the State of Vermont will be contributing $750,000 in grant funds to a major redevelopment project in Springfield. The grant, made available through the Vermont Community Development Program, will help repair sections of the former Fellows Gear Shaper/PVDC facility in downtown Springfield. The property, largely vacant for several years, is being redeveloped by One Hundred River Street, LLC.“This award will not only help mitigate blighted areas of the former Fellows property, but also pave the way for new job creation, as well as restore an important part of Springfield’s historic downtown,” the Governor said. “This revitalization project is a perfect example of Vermont’s commitment to redeveloping its downtowns and villages as centers of social and commercial activity.”Officials from One Hundred River Street, LLC, anticipate having a significant portion of the site demolition work completed before winter. Once renovations are completed, officials anticipate that the building will be used for office, light industrial and retail space.“The Town of Springfield and the State of Vermont have been vital in assisting us throughout this project and these funds will help us address restoration issues on the site immediately,” said Rick Genderson, who along with John Meekin, is a principal of One Hundred River Street, LLC. Source: Governor’s office. 9.18.2009###
20SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Bob Dorsa Bob Dorsa is the President of the ACUMA (American Credit Union Mortgage Association) a professional trade association (co-founded by Dorsa in 1996). ACUMA is one of the most unique niche … Web: www.acuma.org Details There’s no question that real estate lending continues to play a key role in a successful strategy for many credit unions, whether the market favors refinancing or purchase loans. Making mortgage loans provides good service to members and provide meaningful revenue for the credit union. And now, when there is no question that we have moved into an environment where the majority of business is purchase loans, it’s more important than ever to keep your foot on the gas pedal. That’s right: Keep on pushing; keep on making those loans.Many in the mortgage business said credit unions were ill-prepared to handle the shift to purchasing money, but the statistics demonstrate that not only have credit unions made market adjustments, they have also increased market share.In the first quarter of 2017, credit unions grabbed 8.57% of total U.S. residential mortgage originations, up from 7.59% in 2016. That continues a trend that has gone from a tiny 1.41% share in 1989 to a then-record 2.61% in 2007, and on to 4.66% the following year (helped by consumer reaction to Wall Street and Big Bank failures that crippled the economy), topping 5% in 2010, reaching 6.53% the next year and 7.48% in 2014.To keep growing its share of the pie, credit unions will need to work hard—keep pushing—in a market increasingly swinging to purchase loans.How much of a swing? Well, in the fourth quarter of 2106, the Mortgage Bankers Association (MBA) reported that refinances comprised a bare majority (51%) of mortgage originations. In the first quarter of 2017 that total slipped to 41%.Looking ahead, MBA predicts refi’s will keep dropping—to 32% in the second quarter of this year and 28% in the third quarter. And the 2018 forecast puts refinances between 23% and 30% of the mortgage market.OK, you say, we’ve handled things pretty well up to now. So why should we be worried? Two reasons: You’ll need to up your game to handle even more purchase loans and while you’re looking for a bigger slice of the pie, that entire pie is getting smaller.In 2016, residential mortgage originations totaled $1.89 trillion dollars, according to MBA. In 2017, the forecast calls for a total of $1.6 trillion, or nearly $300 billion less than the previous year—no small chunk of change.Smaller pie means more competition. So get ready. And don’t take your foot off the gas!While credit unions have shown we can be players in the purchase market, we can’t slow down, we can’t miss opportunities. Make sure you are doing these things, many of which are topics ACUMA delves into at its workshops and conference:Cultivate relationships with Realtors, who as partners can point business your way (and bring you, new members—maybe even Realtors among them). And be certain they can contact you when necessary—including weekends when they are the busiest.Review and update your products (continually) to ensure you have the “right fit” for first-time homebuyers and the markets you serve.Meet members on their own terms by providing a variety of application and communication channels (face-to-face, online, email, print, text messages, etc.) so they can select the best option for them. And a corollary: Set goals for responses and measure the data—quicker is definitely better.Move toward automation and digitizing more of the mortgage process. If you don’t, you will lose business to those that do.Mortgage-lending credit unions that prepare for the future will have the best chance to succeed. Make sure you are ready for the challenges.
Topics : Corona, which derives its name from the Sun’s corona and has nothing to do with the virus, is the third-most popular beer in the US, according to YouGov rankings. Guinness is first and Heineken is second.Another reason for the drop in purchase intent could be the perception of Corona as a summer beverage associated with beach holidays, YouGov business data journalist Graeme Bruce wrote in an article published Wednesday. It therefore has substantial seasonal fluctuations, he said. The novel coronavirus has an unlikely victim — one of the world’s most popular beers.Corona has become the subject of memes and videos shared on social media as the toll from the virus climbs worldwide. Reports of an increase in online searches for “corona beer virus” and “beer coronavirus” show the Mexican beer hasn’t been able to escape the association. The so-called purchase intent among adults in the US has plunged to the lowest in two years, according to data from YouGov Plc.The damage has become more severe in recent days as infections spread. Shares of Corona-maker Constellation Brands Inc. dived 8% this week in New York. Corona’s buzz score — which tracks whether American adults aware of the brand have heard positive or negative things about it — has tumbled to 51 from a high of 75 at the beginning of the year, YouGov said.
President Joko “Jokowi” Widodo has said that the COVID-19 pandemic has exposed problems in the country’s health care, including its pharmaceutical ingredients and medical equipment.”The pandemic has allowed us to see potential resources that we have not yet managed and developed well,” Jokowi said in his opening remarks in a virtual speech at the National Development Planning Conference on Thursday.”For example, 95 percent of raw materials for the pharmaceutical manufacturing industry are still imported. [We are seeing] what medical equipment we manufacture domestically and what we import. We can see everything now,” he added. Jokowi said Indonesia was dealing with several infectious diseases that required special treatment, such as tuberculosis.”We’re among the top three countries with the largest number of tuberculosis cases after India and China. Do we have the [proper] facilities and beds at the hospitals?” he said.Read also: COVID-19 exposes flaws in Indonesia’s health insurance programIndonesia’s ratio of hospital beds per 1,000 people was lower than many other countries, the President explained. “We only have 1.2 beds per 1,000 residents, far behind other countries such as India with 2.7 beds per 1,000 residents, China with 4.3 beds per 1,000 people and Japan with the highest number of hospital beds per 1,000 people at 13,” he said. “What about the labs, its equipment and its manpower? Or the ratio of health workers, doctors, specialists, nurses? We need to calculate everything.”The COVID-19 pandemic had also shed light on the importance of health security, Jokowi said.”We’ve now seen the importance of health security for the future. […] We’re facing extraordinary challenges because, of all 213 countries, there is no country in the world that is really ready [to face the pandemic],” he said.”I believe with strong cooperation between the central and regional governments we can mitigate the impacts of this global pandemic. Vulnerable groups could be well protected and we could navigate this storm safely.”Topics :
The upstairs balcony looks out over the landscaped backyard.Mr Ernst said the property would suit the big or extended family. “The bedrooms can all take kingsize beds and all the bedrooms have access to a bathroom,” he said. “Downstairs, the bedroom has his and hers cupboards and outside access. “We were going to have elderly parents with us, so with the outside access they could close their bedroom door, open the sliding door to outside and have their own space.” Mr Ernst said the home was on a 693sq m block in one of the sought- after “O” streets of Yeronga. The property is being marketed by Kristy Noble from McGrath Annerley Yeronga and will be auctioned on June 3 at 10am. The home at 40 Oriel Rd, Yeronga.There will be no arguing over the bathroom in this stunning Yeronga home, which has five bedrooms and five bathrooms across two levels. Owner-builder Mark Ernst said the property at 40 Oriel Rd was designed to have space and “all the bells and whistles”. “The house had to have the right aspect too,” he said. “The block has two street frontages so we orientated the back to face east for optimum shade in the summer.” On the ground level the home includes an open-plan living, dining and kitchen area, laundry, study nook, full size bathroom, and a guest room with exterior access. The open-plan living space flows out to the back patio.More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020The modern kitchen has an island bench, stone countertops and integrated appliances while the living space flows out through sliding doors to the patio and landscaped back yard. Upstairs, the master retreat includes a walk-in wardrobe, ensuite with double shower and twin basins, and Mount Coot-Tha views. The three remaining bedrooms have built-in robes and two have ensuites while the third has access to the family bathroom. The upstairs family room with wet bar flows out to the upstairs balcony, where you can glimpse city views.
Kathryn Saklatvala, bfinanceWhile two thirds of the relevant investors are “happy to use the valuation estimates provided by [their] usual channels”, 24% of investors use a public markets equivalent for modelling the potential valuation changes in their portfolios and 10% are marking down estimated valuations more severely than their asset managers.Kathryn Saklatvala, head of investment content at bfinance, said: “The first half of 2020 has been extremely challenging for investors of all types, and undoubtedly there is more volatility and upheaval in store as the true nature of the economic impact of COVID-19 becomes clearer.”She added that such periods are “uncomfortable” but also crucially informative for investors seeking to understand the diversification and resilience of their portfolios and the discipline and skill of asset managers, in addition to the weak-points in risk management capabilities.“It is great to see the majority of investors reporting satisfaction with overall portfolio performance, risk management and active management results across the majority of asset classes, although there are important changes underway on all fronts,” she added.Looking for IPE’s latest magazine? Read the digital edition here. Consultancy bfinance’s mid-year Asset Owner Survey concluded that although the vast majority of investors were satisfied with the performance of their risk management processes, research showed that 35% are making changes.Similarly, 82% are satisfied with overall portfolio performance, with just 25% changing their strategic asset allocation in 2020, and most are happy with the results of actively managed strategies across the majority of asset classes.bfinance received responses from 368 investors, just over half of which are pension funds, with combined assets of approximately $11trn (€9.3trn).“The results presented a picture of cautious optimism with the vast majority (82%) being satisfied with how their portfolios have performed and widespread positive feedback for active management results,” it said. However, 50% of those with explicit liabilities – including 63% of relevant pension funds – said their ALM position had worsened this year. More than a third are making changes to risk management as a result of COVID-19, the firm said.The research also showed that 24% of respondents were changing their strategic asset allocation in 2020.Despite the high number of satisfied investors, bfinance found that there are notable problem areas: 53% of emerging market debt investors, 48% of hedge fund investors and 64% of alternative risk premia investors are dissatisfied with the performance of their asset managers – whether external or in house – in those strategies.Illiquid asset classes scored relatively high levels of satisfaction, albeit with considerable uncertainty given the opacity on true portfolio valuations, it added.
17 Arbour St, Sherwood sold in under five hours.A stunning six-bedroom riverside home at Sherwood has sold for more than $3 million in under five hours.The property at 17 Arbour St, is a street record, selling for $3,050,000. What a view at 17 Arbour St, Sherwood.The previous street record was $1.91 million, according to NGU Real Estate selling agents Emil Juresic and Leo Liu, who sold the home recently to a Chinese buyer.“We really smashed the record here,” Mr Juresic said.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago“It was a cash contract, no conditions.“Something like this in Ascot would sell for $25 million”.Mr Juresic said the new residents lived in Brisbane and owned a business.He said the couple who built the home had done an incredible job.“It’s one of the most well designed homes I have seen,” Mr Juresic said. 17 Arbour St, Sherwood.According to CoreLogic data, the current median house price in Sherwood is $870,000.Mr Juresic said there he had five private inspections in 24 hours.The home, known as Riviera, is on a 858sq m block, and features a wine cellar, large in-ground swimming pool, butler’s pantry and secure yard.
One of the houses in the 875 Sandgate Rd, Clayfield, listing.Would you buy six houses at once if it brought you $170,000 a year in rent without you lifting a finger? What about if it could be turned into 30 townhouses or 90 units?A rare multi-property haul has hit the market in inner Brisbane with seven properties being sold in a pack in popular rental suburb Clayfield, just 15 minutes from the CBD.All up there are currently 30 bedrooms and eight bathrooms across the properties — and all of them tenanted, bringing in $170,000 a year. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 House 2.Agent Trent Ryan of Calio & Scott Real Estate — Brighton has it listed as 875 Sandgate Road, describing properties as having “a number of opportunities to consider for potential development”.“The site could be transformed into one modern unit complex, or perhaps two to three complexes constructed over an extended time to minimise exposure to the market for an extended period,” was how it was listed. Brisbane’s boom suburbs revealed FOLLOW SOPHIE FOSTER ON FACEBOOK House 3.More from newsNoosa’s best beachfront penthouse is about to hit the market12 hours agoNoosa unit prices hit new record high as region booms: REIQ12 hours agoHe said there were “a number of demolition or relocation approvals in place that will be provided to the purchaser on settlement”,The listing comes as Brisbane’s long talked-about unit oversupply begins to run its course, with experts expecting the market to begin to tighten. House 4.The ideas for the site were plentiful, given it sits off a busy suburban road.“The site yields approximately 145 car spaces, allowing up to 90 to 100 units to be realised from the site. Given the site fronts an entire block on Sandgate Rd, entry and exit points can be off the side street points,” the realestate.com.au listing said. House 5.“As a townhouse site there are a number of possible designs to allow up to 30 townhouses being presented to the market.” “Depending on design and configuration this could also include terraced buildings with freehold titles.”“Houses on some of the properties would allow for additional titled townhouses be added to the individual properties with the retention of the current dwellings.” Buyers flocking back at unprecedented levels MORE: Gone in five days as investors surge House 6.If all of that seems a little overwhelming, the sellers were also willing to consider selling the homes “individually, or as a part sale of adjoining properties” and they’d even consider a joint venture. No price has been set on the property with it open to negotiation.This comes as agents have begun reporting increased investor interest in city properties as deposit rates take a hit in the wake of the Reserve Bank of Australia dropping its cash rate target to 1 per cent. The next RBA monetary policy meeting is on August 6.
Under the grant new homes being built must be worth $750,000 or less, including land, while renovations must be worth at least $150,000, but no more than $750,000A $25,000 grant to help new-homebuyers and renovators was announced by the Federal Government on Wednesday.In turn, this will support the struggling construction industry, who were facing a “bloodbath” come August, according to the Master Builders Association, who had been pushing the government to introduce a grant.RELATED NEWS What the HomeBuilders scheme means for buyers “Master Builders has been calling on the federal and state governments for some time to consider stimulus measures that will throw the building industry a lifeline,” Master Builders North Queensland regional manager, Emma Peters, said“While right now, for many builders, the work has been steady throughout the COVID-19 crisis, there is no doubt that a looming shortage of work that we expect will hit around August or September is on everyone’s minds.“Builders across North Queensland welcomed the State Government’s first round of stimulus, which included a $20 million renovation program to improve the resilience of homes north of Bundaberg, $50 billion in government expenditure on public buildings and civil projects over Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:45Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:45 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhat is the new HomeBuilder scheme?00:46 COVID-19 sparks land sale surge Getting jobs back will help homeowners most the next four years, and a $200 million local government program to fund work on local council buildings and infrastructure.“While everyone is keen to remain positive and take advantage of all opportunities, we’ve definitely had reports that inquiries and contracts are already starting to dry up, which is why these measures are so important and it’s vital we don’t delay their introduction.” Masters Builders regional manager Emma Peters.Anyone building a new home, not only first-home buyers, or doing a substantial renovation, will be able to claim the cash provided they meet specific criteria.These include the grant only being accessible to individuals earning up to $125,000, or couples earning a combined salary of $200,000.Additionally, new homes being built must be worth $750,000 or less, including land, while renovations must be worth at least $150,000, but no more than $750,000. The money will not be allowed to go towards swimming pools, tennis courts, outdoor spas and saunas, sheds or garages.“If you’ve been putting off that renovation or new build, the extra $25,000 we’re putting on the table along with record low interest rates means now’s the time to get started,” Prime Minister Scott Morrison said, with hopes the $688 million plan will “fire up” the construction industry.It was initially predicted that roughly 100,000 construction jobs in Queensland alone could have been lost if the government didn’t introduce a grant.“We recently ramped up our calls for a new homeowners’ grant following a recent report that calls for swift and urgent stimulus measures to counter the looming crisis,” Ms Peters said.As the industry lurches towards an economic cliff, the pandemic lockdown has seen many contracts rapidly drying up, with traffic through show homes down 90 per cent across Australia since the start of the COVID-19 crisis.Under the new scheme, first-home buyers will also be able to cash in, which means they have access to a combined $40,000 – provided they also receive the existing State Government First Home Owners’ Grant.More from news02:12The suburbs posting median sales price increases despite Covid2 Sep 202001:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 2020 Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:07Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:07 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenCOVID-19: Current market update02:08 Maidment Group managing director Glen Maidment said with interest rates at 60-year record lows, savvy buyers who were in secure employment were recognising the opportunity that existed and were stepping forward knowing market conditions had never been more favourable.“There is an increasing presence of first-home buyers entering the market,” he said.“The ability to access to the State Government’s $15,000 First Home Owners’ Grant and the Federal Government’s First Home Loan Deposit Scheme, provides the means for first-home buyers to transition into homeownership, who in many cases end up paying a mortgage on a new home that is substantially cheaper than the cost of renting.“The grant is absolutely critical to securing ongoing employment for Townsville locals and will ensure the building and construction industry staves off potential collapse.”Ms Peters agreed that the grant would have a profound impact across the sector, but also the wider community.“A grant for all new homes built will act as a lifeline for residential construction activity and create major benefits for the economy and community,” she said.The HomeBuilder scheme is intended to be running within weeks, but any application will be able to be backdated to June 4.Contracts must be signed by December 31 and work has to begin within three months of the signing to be eligible.“Across Queensland, we’d expect to see more than 2270 new homes to be built, with North Queensland benefiting to the tune of 45 additional homes built, providing vital support for almost 200 construction businesses, many of them small businesses,” Ms Peters said, based on a $40,000 grant.“These initiatives would benefit the region’s building industry, particularly the renovations for cyclone resilience, but there is more to be done and quickly.“The need for swift action to deliver a much-needed lifeline and supercharge the state’s stalling economy has never been more dire.”
Indian sub-continent shiprecycling destinations have seen another negative week of pricing following the release of the 2017 budget announcements, according to GMS, a cash buyer of ships for recycling.The Bangladesh Shipbreakers Association (BSBA) submitted an official appeal to the finance minister in order to try to reduce, or reverse the punitive duties and taxes imposed on the domestic shiprecycling sector by the budget.However, there has been no positive outcome and it does seem as though prices will soften by about USD 40 – 50/LDT going forward, especially if the full conditions of the budget come into effect.“The extent of the falls witnessed over the last month or so have indeed been rather unexpected and shocking to the industry overall,” GMS said, adding that at least USD 50/LDT have come off prices ever since the markets came to within inches of touching the USD 400/LDT mark during the first quarter of the year.Despite the firming levels at that time, supply remained relatively stagnant, especially when compared to the corresponding period last year. The markets have witnessed a sharp reduction in the number of containers and bulkers heading to the beaches this year with only a marginal increase in the number of tankers proposed so far, GMS informed.Given the recent negative ongoings, declining prices and bad budgets, “end buyers across the sub-continent markets remain extremely conservative and cautious with their pricing.”Considering that vessel prices had recorded a remarkable increase of over USD 100/LDT during the peak this year, even with the recent declines, levels today “are strong and remain about USD 50/LDT above those from January 1, 2017.”GMS said that it therefore expects the summer months to remain modest in terms of pricing and activity as cash buyers and sellers wait for some added stability and aggression to buy while the markets adjust to the new ‘lower’ prices on show.