In California, nearly 59% of residents are still recovering from the financial setback of the pandemic in the wake of its economically devastating disruption, according to Hometap. Today, you may properly relate to the toll taking place in 2023 as the Fed fights to correct the current surge in consumer inflation flowing from the pandemic-driven stimulus bridge, etc.
While mortgage delinquencies in California reached a historical low between 2021 and 2022, they have reversed and are now climbing, up from November 2021:
0.7% in Los Angeles-Long Beach-Anaheim; and
0.4% in San Francisco-Oakland-Hayward, according to Core Logic.
This article originally appeared on firsttuesday Journal. Read the full article here.
Comparably’s annual Best Company Outlook list recognizes companies with the brightest futures, according to anonymous employee feedback submitted to Comparably.com over the past year. Rankings are derived from sentiment ratings provided by current employees about how confident they feel about the future success of their company, how excited they are about going to work each day, and how likely they are to recommend working there to a friend (referred to as an eNPS or employee Net Promoter Score). All ratings were provided from February 2022 through February 2023. Read Methodology
Hometap is honored to be included on this list.
This article originally appeared on Comparably. Read the full article here.
When it comes to determining the best place for your family to live, there are a number of considerations (and opinions) to balance — but ultimately, it all depends on your personal priorities, values, and budget. Your decision should be one based on both head and heart: while you want to make your whole family as happy as possible, you also want to make sure you’re making a solid investment.
If you hail from the area you’re looking to buy a home in, you’re already at an advantage, since you’re more familiar with neighborhoods and might even have a clear idea of the streets where you want to house hunt. However, if you’re moving to a totally new-to-you city, it might be a bit more daunting. No matter what your circumstances, though, there are several factors to look at before you commit to a place.
1. Safety
Safety is one of the biggest and most important factors to consider in a potential neighborhood, especially if you have children. Fortunately, there are many websites that aggregate crime statistics in a given area so you can easily compare them before even visiting in person, including NeighborhoodScout, SafeWise, and SpotCrime.
When exploring potential streets, make note of the potentially less obvious — but still important — features, including the amount and placement of street lights and sidewalks. Conversely, you should keep an eye out for vacant or abandoned buildings or any other sights that feel unsettling or concerning as you look around. It’s also a good idea to drive around a potential neighborhood at night to get a feel for it at different times of the day.
One more consideration is whether your home is on a main road or on a side street or cul-de-sac, especially if you’re hoping to purchase a home with secluded backyard space for your children to play.
2. Schools
If you plan to or have children, school quality and proximity is another major factor that can make or break your choice of location.
It’s easy to see online, at a glance, how districts are performing and how large they are on Niche and GreatSchools, but it is often worth your while to connect with parents within the district(s) you’re researching to get their firsthand thoughts as well. And if athletics are of interest to your kids, take a look at the size and variety of the sports programs and how the teams typically perform.
3. Convenience
Think about your day-to-day routine and the types of conveniences you value. How close are grocery stores, hospitals, doctor’s offices, pharmacies, parks, and shopping centers? Are you near enough to highways if you need to quickly and easily access other cities, or see friends and family?
Most importantly, if you drive to work or take public transportation, time and map out your potential daily commute. Choosing an area that results in an hours-long drive or multiple train transfers won’t just cut time out of your day that you could spend with your family — and zap your energy — but it could cost you in gas and train tickets as well.
4. Price
Though safety, schools, and proximity to conveniences are the most important aspects when researching areas, you can begin shopping by price once you narrow down a neighborhood based on these criteria. It helps to get an idea of current median home values in the area, as well as property taxes, so you can more accurately and quickly assess what’s within the normal range and what properties might be overpriced as you shop around. Realty websites including Redfin, Zillow, and National Association of Realtors can help estimate home prices, as well as regional realty publications.
5. Any Other Important Features (to You)
Once you’ve addressed all of your must-have characteristics, think about miscellaneous preferences you or any of your family members might have. For example, do you have preferences on town water and septic versus private, an older versus a newer home, or planned future development in the neighborhood that could increase noise and/or traffic?
With some time, effort, and research, you can make an informed decision that everyone is happy with and land in the right neighborhood for your family.
Knowing your current home value can help you determine your budget for the next one. Do you know what your current home is worth? Our Home Equity Dashboard can help!
YOU SHOULD KNOW… We do our best to make sure that the information in this post is as accurate as possible as of the date it is published, but things change quickly sometimes. Hometap does not endorse or monitor any linked websites. Individual situations differ, so consult your own finance, tax or legal professional to determine what makes sense for you.
Unlock and an increasing number of other companies like it (such as Unison, Point, HomePace, and Hometap) are part of an emerging business segment in the home-equity space that serves borrowers who may not want or qualify for a traditional home-equity product like a HELOC. Instead, they offer homeowners a product called a shared-equity contract or agreement in which homeowners are provided cash upfront in return for a share of the equity in their homes.
At the end of the contract period (10 years in the case of Unlock) the homeowner must settle the terms of the contract either through a direct payment, refinancing or the sale of the home.
This article originally appeared on HousingWire. Read the full article here.
In recognition of International Women’s Day and this year’s theme #EmbraceEquity, we reached out to companies asking the following question:
How is your company recognizing International Women’s Day?
This year, Hometap launched its first Employer Resource Group, Women in Tech, where our female employees come together to share resources, stories, and host events. We launched with a fireside chat featuring our COO and President, Sarah Dekin, which gave our employees the opportunity to hear about her path to success and ask questions about her experiences rising the ranks in tech.
This article originally appeared on VentureFizz. Read the full article here.
Many Americans are house rich but cash poor. Hometap offers them a trade-off in the form of a twist on traditional home equity financing: Cash today, up to $600,000, in exchange for a share of the home’s appreciation in the future. Borrowers don’t need to pay off the loan for up to 10 years. For homeowners with little cash flow to spare for monthly payments, that can be a very good deal. In January 2022, the Boston-based company raised its third institutional asset fund worth $245 million from investors— including Bain Capital—to fuel its growth, and of the more than 1,700 homes it’s invested in, 800 of them were in 2022. The company has focused in part on small-business owners, and in May 2022, it announced that it had invested more than $30 million in home equity to unlock small-business entrepreneurship. Hometap has also expanded geographically over the past year to serve 18 states.
Hometap is proud to be part of Fast Company’s list of the 10 Most Innovative Companies in Personal Finance of 2023.
This article originally appeared on Fast Company. Read the full article here.
Winners in the 17th annual Stevie® Awards for Sales & Customer Service are listed by category, arranged in the following groups of categories, as selected by the average scores of more than 170 professionals worldwide on seven specialized juries. The Gold, Silver, and Bronze Stevie Award placements from among the Finalists were revealed during the gala awards banquet on Friday, March 3 at Caesars Palace in Las Vegas.
Achievement in Customer Experience – Other Industries
BRONZE STEVIE® WINNER:
Hometap, Boston, MA, United States: Hometap Creates Personal Connection with Homeowners
For more than a decade, the HW Tech100 program has identified and recognized the most innovative technology companies serving the mortgage and real estate industries.
The 2023 Tech100 Real Estate winners are changing the home sales process forever – from home search to lead management solutions, and remote closing to transaction management software. These companies are leading the way toward a more innovative and efficient housing market and bringing to market solutions that we could have only imagined a decade ago.
Hometap is honored to be on the winner list.
This article originally appeared on HousingWire. Read the full article here.
BOSTON, MASSACHUSETTS– March 3, 2023 – Hometap, which provides a smart, new loan alternative for tapping into home equity without taking on debt, announced that it has been named to HousingWire’s HW Tech100 Real Estate list. The list recognizes the most innovative and impactful technology companies in the housing economy that are creating practical, tangible solutions for the problems that homebuyers, homeowners, real estate agents, and lending professionals are dealing with today.
“It’s truly incredible to receive this honor from HousingWire for the fourth year in a row,” said Jeffrey Glass, CEO of Hometap. “Despite last year’s challenges within the housing market, our team remained focused on our mission and is proud to have helped thousands of homeowners access their equity and get closer to their financial goals.”
Hometap is expanding the home equity financing space, providing an alternative solution for homeowners looking to access the equity in their homes. Unlike a lender, Hometap makes investments in homes in exchange for a percentage of the future value of the property, providing homeowners debt-free cash today with no interest or monthly payments.
The HW Tech100 Real Estate list is determined by both a panel of industry leaders and a committee of HousingWire editors. Hometap was previously named to the 2020, 2021, and 2022 Tech100 Real Estate lists, alongside several other companies that are revolutionizing the real estate sector.
“As the only program in the industry that highlights tech innovation, Tech100 is truly a special honor for these organizations that span across every aspect of the housing economy,” HW Media Editor in Chief Sarah Wheeler said. “These companies are continuing to raise the bar in supporting a more efficient, accessible and sustainable housing economy and each year continues to be more competitive than the last.”
The full list of winners in the 2023 HW Tech100 Real Estate category can be found here.
About Hometap:
Hometap is on a mission to make homeownership less stressful and more accessible. Our home equity investment product provides homeowners with a fast, simple, and straightforward way to access the equity in their home without taking out a loan or having to sell. By investing alongside homeowners, Hometap offers debt-free cash in exchange for a share of their home’s future value — all without any monthly payments or interest over the life of the investment. Through a combination of financial innovation and best-in-class customer service, Hometap enables people to get more from homeownership so they can get more from life. Learn more at hometap.com.
About HousingWire:
HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 1.0 million unique visitors each month. Our audience of mortgage, real estate and fintech professionals rely on us to Move Markets Forward. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.