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92 Veros Real Estate Solutions Announces Enhancements to VeroSELECT API Veros Real Estate Solutions (Veros), a mortgage technology company that special- izes in enterprise risk management, collateral valuation, and predictive analytics services, announced recently it has made enhancements to their VeroSELECT API. By expanding the capabilities of the platform, Vero's clients can now integrate their valuation services with their back-office systems for more seamless and scalable valuation management. Now, VeroSELECT partners are enabled through their single gateway to access open, industry-standard REST Application Pro- gramming Interface (API). is now allows them to integrate, customize, and extend volume ordering of AVMs, Broker Price Opinions (BPOs), and Property Condition reports (PCRs) quickly and easily. "VeroSELECT, considered one of the most stable and versatile valuation management platforms available in the market, extends this enhanced API capability to our clients— providing the ability to easily integrate and handle high-volume transactions with ease," said David Rasmussen, SVP of Operations for Veros. "e API enhancement streamlines both the ordering and processing of AVMs with PCR and BPO valuations for power users to not only save time, but also to strengthen the risk decisions through complex, cascading logic and real-time data access." NEVADA Underwater Borrowers Gain More Options Nevada is turning back the clock, once again allowing distressed homeowners to le- verage mediation services during the foreclo- sure process. e state's previous mediation program was set to end in June, but due to a sunset provision, concluded on December 31, 2016, instead. e sunset caused a six-month gap in which underwater Nevada homeowners had few options when facing foreclosure action. anks to Senate Bill 490, signed recently by Nevada Gov. Brian Sandoval, mediation op- appreciate at a rate of around 6 percent. Conversely, the Northeast shows the largest cluster of depreciating home values—with New Jersey, New York, Connecticut, Pennsylvania, Ohio, and West Virginia among the worst of the lot. e bottom 15 markets all show negative appreciation, while 15 to 25 show less than a 1 percent appreciation rate. VeroFORECAST attributes the low and negative appreciation values to consistent population decline. CALIFORNIA Cities with Great Rental Investment Opportunities It seems with all the talk about how millen- nials are shaping the housing market, there is little talk about how millennials are shaping the market for rental investment properties. And with a national average of two years to break even on your first home purchase as opposed to renting, coupled with low inventory across the country and rising home prices throughout, many millennials are renting for longer. According to Zillow, there are five cities with the longest break-even horizons in the country. California secured the top three spots. No. 1 was San Jose. Located in the center of Silicon Valley in a metro with the highest Home Price Index in the country, residents would have to live in their new home 5.1 years to break even on their investment. Median rent is about $3,460 per month, and the me- dian home price tops out at $997,000. San Francisco came in at a close second with a break-even horizon of 4.9 years and a median rent of $3,354 per month. e median home price is $848,400. Given the standard 20 percent down payment, these can easily cost homeowners upwards of $150,000. Los Angeles took the No. 3 spot with a break-even horizon of 4.7 years. San Diego tied with Washington, D.C., at 4.5 years for the number four spot. As a point of reference, other major metros break-even horizons are as follows: New York City, 2.5 years; Seattle, 2.3 years; Houston, 2.4 years; Chicago, 2.2 years; and Dallas-Fort Worth, 1.6 years. Most cities in the Midwest had an average break-even horizon falling between one and two years, and in the Pacific Northwest, most cities fell in the two- and three-year window. e state of Florida aver- aged one to two years, except Miami, which averaged nearly three years. California Hilary Marks Woman Owned Business BRE# 01730451 www.WESALECA.com 909-529-3707 HILARYREO@yahoo.com WASHINGTON Appreciation Continues Climbing in West Certain markets in the West will continue to appreciate at double-digit rates over the next year, while markets in the Northeast show the least promising forecast, according to Veros Real Estate Solutions' Q2 VeroFORECAST report, which measures predicted home ap- preciation on a yearly scale. Seattle, Washington, is predicted to experience the highest home price apprecia- tion, with an estimated 11.1 percent increase. e Denver metro is a close second, with 10.3 percent increase home appreciation. Seattle boasts an unemployment rate of 3.7 percent, compared to the national average of 4.3 percent, and Denver's rate is as low as 2.1 percent. ese are both major contributing factors to the rapid rate of home appreciation. However, home appreciation does have its downside for would-be homeowners in that in- ventory is tight. It is estimated that Seattle has about a one-month supply of homes available at the current closing rate, and Denver doesn't look much better, at a 1.1 months' supply. "As job growth continues to drive migration to the top markets, we will continue to see tight home supplies, causing a heightened housing de- mand which, as we know, will cause home afford- ability to suffer in these areas," said Eric Fox, VP of Statistical and Economic Modeling at Veros. Of the top 25 markets showing signs of increased home appreciation, 18 metros are located in western states, including Colorado, Washington, Oregon, Arizona, Utah, and Idaho. Only five reside in Florida. Previ- ously hot markets, such as Austin, Texas, are expected to cool. Austin once showed double- digit appreciation but is now only expected to

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