As always, we hope you & yours had a wonderful and happy Thanksgiving this year. And, if you’re like many Americans you may have not only eaten more than your fair share, but you might also have oodles of leftovers that will be calling your name in the days and weeks to come. Today’s infographic from craftminute.com reminds us to not “spoil Thanksgiving” and properly put away those leftovers so there will be plenty to eat and/or snack on in the colder days and months ahead….Stay safe and have a Happy Friday!!! Hat tip to craftminute.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA) recently announced that effective December 21, 2022, it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to FHA requirements from private insurance providers. The change was announced through a final rule published in the Federal Register and in a companion Mortgagee Letter (both published in late November), that provide implementation guidance for FHA-approved lenders. The FHA requires that insured mortgages for properties in Federal Emergency Management Agency (FEMA)-designated Special Flood Hazard Areas (SFHAs) have flood insurance. Previously, only flood…
ATTOM Data says mortgage originations are experiencing their biggest annual drop in 21 years. The data comes from their third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in Q3 2022 in the U.S. That figure was down 19% from Q2 2022 (the 6th quarterly decrease in a row)and down 47% from the Q3 2021 – the biggest annual drop in 21 years. ATTOM says the annual decrease in the dollar volume of mortgages stood out as the largest since at least 2001 and was…
On a recent episode of the Rent Perfect podcast David Pickron says there is a direct correlation between a tenant applicant’s criminal history and their credit scores, which ultimately affects their ability to pay rent. Indeed… “If government takes away your ability to view the applicants criminal background, you are losing a powerful tool in finding and approving the right ‘business partner’ to occupy your rental property.” David Pickron Rent Perfect is the solution rental property owners & managers have been crying out for! Their Online Lease Agreement allows you to send your tenant(s) a customized lease agreement, electronically…
Back in August we posted about Airbnb’s plans to roll out new “anti-party tools” in the US and Canada to help identify potentially high-risk reservations and prevent those users from taking advantage of their platform. Now, fast-forward to mid-November and they have launched a new platform called Airbnb Setup, which they say is an “all-new easy way to Airbnb your home.” Basically, they’re expanding their current Airbnb Cover program for hosts by adding the following upgraded features & enhancements: Guest identity verification Reservation screening technology $3M damage protection Auto & boat protection Art & valuables protection Easier to file a…
Rentcafe says over the last two years, apartment conversions have jumped by 25% compared to the two years prior, bringing a total of 28k new rentals in 2020-2021. In addition, they point out that adaptive reuse has picked up speed in America’s largest cities. Indeed… “The residential market needs significantly more density in the areas of the largest cities, where the demand is greatest and where the tallest office buildings are located…Larger office buildings in abandoned central business districts are better suited to conversion than the often-smaller office complexes distributed around the suburbs.” Said Doug Ressler, manager of business intelligence…
The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1425,000, which is 2.4% lower than September’s revised number and 8.8% lower than one year ago. October’s rate for units in buildings with five units or more was 556k. Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,526,000, which is 2.4% below September’s revised number. Authorizations of units in buildings with five units or more were at a rate of 633k in October. Click here to read the full report at the…
The National Association of Realtors is reporting that existing home sales were down 5.9% in October to a seasonally-adjusted annual rate of 4.43 million (down 28.4% year over year). Total housing inventory at the end of October was 1.22 million units, down 0.8% from September and down 0.8% from one year ago. Unsold inventory sits at a 3.3-month supply at the current sales rate with properties remaining on the market for around 21 days. The median existing-home price for all housing types in October was $379,100, up 6.6% from one year ago. The NAR pointed out that October marks 128…
We’ve had many posts about how real estate is the best chosen investment, time and time again. Today’s infographic from Keeping Current Matters reminds us that homeownership is in fact a form of building wealth. They point out that not only does growing equity increase your wealth, prices have appreciated by 290.2% since 1991. Indeed…. Stay safe and have a Happy Friday! Hat tip to Keeping Current Matters.
The venerable AAA says it’s time to “buckle-up” this Thanksgiving as they say over 55 million people will be traveling – up 1.5% from 2021. They expect this year to be the third busiest for Thanksgiving travel since AAA started tracking this data in 2000. “Families and friends are eager to spend time together this Thanksgiving, one of the busiest for travel in the past two decades…Plan ahead and pack your patience, whether you’re driving or flying.” Said Paula Twidale, AAA’s Senior Vice President of Travel. Click here to read the full report at the AAA.
