Author: Brad Beckett

Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo Winzer April 2022 The surge in home prices continues to dominate developments in real estate markets. Even though the largest jump in prices probably has already occurred, further increases will take place in 2022 and into 2023, leaving prices in most markets well above the level that local incomes can support. Even if the war in Ukraine doesn’t pull the US economy back into a recession, these…

In late March, 30-year mortgage rates experienced their largest 3-month increase since May 1987 – up 1.56 percentage points since the end of 2021.  A recent chart shared on twitter by Len Kiefer, Deputy Chief Economist at Freddie Mac, who helps “people understand the economy, housing, and mortgage markets” illustrates these increases going back to 1987. Click here to read more at LenKiefer.com.

On a recent episode of Omaha REIA’s “REIA Radio,” hosts Ted and Owen talk with Ryan Basye about the importance of creating long-lasting relationships in this industry due to the fact that investors often run across the same people – especially with Omaha being “a big small town”. Basye shares the knowledge that he has gained over the 12+ years as both and investor himself and a realtor for other investors.  In addition, he discusses the current need for transitional housing and his non-profit, OnDeck Housing.  This one is is worth a listen… Click here to listen on Spotify. …

Black Knight’s Mortgage Monitor Report for February, 2022  says home prices increased 1.84% in February – which is nearly four times the 25-year average for the month – and the 14th month of the pandemic to see greater than 1% monthly growth.  In addition, the average home has now increased in value by more than 34% since February, 2020. “Home prices grew by 1.84% in February – nearly four times the 25-year average for the month – and they did so while interest rates continued to climb throughout the month…The month’s 19.6% year-over-year growth marked the highest annual rate of…

In the market for a vacation home or looking for a short-term rental or two for your portfolio?  The folks over at Realtor.com put together a list of the top 10 places where folks can find the most affordable vacation home right now.  They say some urbanites are even buying a second home before securing a primary residence because they can’t afford the type of home they home would like to buy, sending prices even higher.  Indeed…. “We’ve seen rising demand for homes in vacation destinations within a three-hour drive of major metro areas, especially in mountain and waterfront areas…

Today’s infographic from the Visual Capitalist reminds us that pipelines are the primary method of transporting & delivering crude oil and its derivative products swiftly to refineries and businesses.  Interestingly, the U.S. & Canada alone are home to more than 90k miles of crude oil and petroleum product pipelines (enough to go around the Earth 3x) and has more than 140 refineries that can process around 20 million barrels of oil every day.  As always, stay safe and have a Happy Friday! Hat tip to the Visual Capitalist’s Elements.

We have seen the posts about Americans moving at a rapid pace to areas in the South & West that have better all-around climates.  A new report from FOX Business says the “Sun Belt” is becoming a hot spot for business relocation.  Companies all across the fruited plain are cutting costs by moving south.  They point out how this race towards the South is actually fueling a housing boom in Texas, Jeff Holzmann is the CEO of IRM Services, an asset management company. He says the move from The New York-New Jersey area to Dallas has saved the company millions…

Landlords take notice;  A prominent Ohio law firm recently obtained a unanimous jury verdict (8-0) to defeat a case of claimed retaliation in response to a tenant’s claimed request for a disability accommodation that was met with a non-renewal of a residential lease.  The Finney Law Firm was defending Abundant Life Faith Fellowship against the Ohio Civil Rights Commission, who was also suing the Church’s pastor.  An excerpt from their posting is below: “The Civil Rights Commission case was full of demonstrable untruths about a kind-hearted 74-year-old African American minister who had suffered two strokes. By the testimony of two…

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 1.6% in January, 2022 and were up 18.2% from one year ago.  The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s. “House price trends notched up slightly in January…Rising mortgage rates in January certainly reflect a major change from the past several years, but lending costs remain relatively low. The mortgage rate shift…

The NAHB’s Eye on Housing says first-time home buyers want double sinks and pantries in the kitchen as the most popular of 30 kitchen features listed in the recent What Home Buyers Really Want study.  Topping the chart, 80% of first-time buyers rated a double sink and a walk-in pantry essential or desirable, closely followed by drinking water filtration and table space for eating. “The most popular kitchen features among first-time buyers are very similar to the most popular among home buyers in general.  For example, double sinks and pantries were also the two most popular kitchen features among all…