Author: Brad Beckett

Now that the nation has turned its attention to baseball, let’s take a quick look at the football landscape.  A recent graphic from the U.S. Census Bureau says the top 50 metro areas in the U.S. have 31 NFL teams.  And as anyone with short-term rentals can tell you, having a professional sports team nearby can be quite lucrative….especially if a major tournament is held in that city (ie Super Bowl etc.). As always, stay safe and have a Happy Friday!!! [Source: U.S. Census Bureau] Hat tip to the U.S. Census Bureau. top

The NAHB’s Eye On Housing says data from the latest Producer Price Index shows the prices of inputs related to residential construction (less food and energy,) rose for the 5th straight month.  Data shows that the non-seasonally adjusted index increased 0.21% in March following a 0.54% increase in February and a 1.25% in January, 2024. They point out that the index continues to grow at a faster rate than in 2023 as the average monthly change in 2023 was 0.15%. Click here to read the full report at the NAHB’s Eye on Housing.

According to the latest ICE Mortgage Monitor (formerly Black Knight), the national delinquency rate eased to 3.34% in February, an 11 basis point improvement over last year.  In addition serious delinquencies fell to their lowest level in three months, while foreclosure starts, sales and inventory were all down on both a monthly and annual basis.  The ICE Mortgage Monitor provides a view of the current mortgage market, including loan-level performance, home price trends data, secondary market metrics and public records. Click here to read the full report at ICE Mortgage Technology (formerly Black Knight).

On a recent episode of the AZREIA Show, Michael Del Prete talks with Sophia Willets who shares her journey about growing up in a real estate investor family to becoming a successful multifamily real estate investor herself.  She discusses the advantages of starting in single-family homes before moving to multifamily properties, her strategy for off-market deals, and how she achieved significant returns on her investments. She also talks about the challenges she faced, including losing everything in the 2007 financial crisis and rebuilding her career and personal life. Click here to listen.

The Pacific Legal Foundation recently announced that the U.S. Supreme Court ruled unanimously that legislatures cannot use the permit process to coerce owners into paying exorbitant development fees.  They say this ruling is a major victory for property rights, remove costly barriers to development, and help combat the housing crisis.  The case began in 2016 when a man bought a vacant lot in rural El Dorado County, California, and planned to build a small home where he and his wife would live and raise their grandson. But he was told he would have to pay a so-called traffic impact fee…

According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices rose by 3.4% year over year in February 2024 – the strongest growth recorded in 10 months.  CoreLogic says February’s annual rental cost increases could again signal that Americans are slowly migrating back to larger, more expensive coastal metros. “Single-family rent growth regained strength in February, posting the highest annual appreciation since April 2023…Monthly rent growth also picked up in February and was higher than what is typically recorded in winter months. Lower-priced properties had the smallest annual rent growth in February, which should be welcome…

According to the ATTOM Data’s Q1 2024 Foreclosure Report, there were 95,349 with a foreclosure filing during the first quarter of 2024, up 3% from the previous quarter but down less than 1 percent from one year ago.  There were a total of 67,657 U.S. properties that started the foreclosure process in Q1 2024, up 2% from the previous quarter and up 4% from one year ago  In addition, the report shows there were a total of 32,878 U.S. properties with foreclosure filings in March 2024, down less than 1 percent from the previous month and down 10% from one…

The National Association of Realtors is reporting that existing home sales were down 4.4% in march to a seasonally-adjusted annual rate of 4.19 million –  down 3.7% year over year.  Total housing inventory at the end of March was 1.11 million units, up 4.7% from February and up 14.4% from one year ago.  Unsold inventory sits at a 3.2-month supply at the current sales rate with properties remaining on the market for around 33 days.  The median existing-home price for all housing types in march was $397,200, up 4.7% from one year ago. “Though rebounding from cyclical lows, home sales…

The U.S. government is reporting that privately‐owned housing starts in March, 2024 were at a seasonally adjusted annual rate of 1,321,000, which is 14.7% lower than February’s revised number and is 4.3% lower than one year ago.  March’s rate for units in buildings with five units or more was 290k.  Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,458,000, which is 4.3% below February’s revised number but is 1.5% higher than one year ago.  Authorizations of units in buildings with five units or more were at a rate of 433k in…

If you’ve ever experienced a leaky toilet (especially by non-caring tenant) you know that it can be a big bill and may even cause serious damage.  Today’s graphic from the Infographics Zone illustrates the potential costs of a running toilet. They remind us that it’s essential to address any issues with your toilet promptly and make sure to turn it off when not in use.  Indeed…. Stay safe, make sure those toilets aren’t running and have a Happy Friday!!! “A continuously running toilet can waste hundreds of gallons of water every day, increasing your water bill and having a negative…