Author: Brad Beckett

On a recent episode of the Rent Perfect podcast David Pickron says statistically, fraud is on the rise and landlords, whose information is all over the web and on legal documents, are not immune from its effects. He points out that it’s important to know ways to protect yourself and your information.  David says this is critical in avoiding this growing epidemic of fraud. To learn more about freezing your credit, please visit here.  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)…

HousingWire is reporting that the FHA is giving nonprofit organizations and owner-occupant buyers first dibs on foreclosed properties that get auctioned off through its Claims Without Conveyance of Title (CWCOT) program, specifically prioritizing these groups over investors.  According to the report, for the first 30 days, a foreclosed property listed for sale can only be bid on by owner-occupant buyers, approved nonprofits, and government entities. HousingWire says these buyers would also enjoy an additional 60 days for conveyance from the date that the sales contract is ratified. “This policy change is critical as the nation continues to address the challenges…

We’ve had a lot of posts about where people are moving to and from, as well as the reasons why.  A recent report at Realtor.com took a look at search traffic to figure out where people wanted to move to and where they most wanted to leave.  They used that data to determine the nation’s most sought-after areas from buyers who are looking at homes in a different metro area from where they currently live.  As for locations, they looked at data from the 300 largest metropolitan areas in America in Q1 2022.  Indeed… “The pandemic led many Americans to…

New data is showing that housing’s share of the U.S. GDP edged higher in Q1, 2022, while overall GDP growth declined at a 1.4% annual rate.  The NAHB’s Eye on Housing is reporting that housing’s share of GDP increased to 16.7%, coming off of a 14-year high of 17.8% during Q2, 2020.   In addition, they point out that Housing-related activities contribute to GDP in two basic ways.  The first is through residential fixed investment (RFI) – which is effectively the measure of the home building, multifamily development, and remodeling contributions to GDP.  The second impact of housing on GDP is…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in April increased $15 to an all-time high of $1,659 (up 14.3% year-over-year).  Yardi rhetorically asks, is there a slowdown in market rents? Not yet, they say.  Indeed… “Certainly, deceleration will happen, and there are warning signs on the horizon. The U.S. economy unexpectedly contracted by 1.4% in the first quarter of 2022, owing to issues that include surging inflation, ongoing supply-chain issues, shrinking business inventories, and the omicron outbreak in January…” Click here to read the full report at Yardimatrix.com.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was up 0.3% in April, 2022.  However, the all items index was up 8.3% for the 12 months ending in April, continuing a 40-year high streak.  See chart below. “Increases in the indexes for shelter, food, airline fares, and new vehicles were the largest contributors to the seasonally adjusted all items increase.” Click here to read the full release at the Bureau of Labor Statistics.

With inflation now rearing its ugly head, consumers are becoming more price conscious as they see their cost of living being impacted all around them.  In that vein, a recent graphic from Statista takes a look at the nationwide rental market and asks how much living space does $1,500 get you across the country.  Stay safe and have a Happy Friday! Hat tip to Statista.

A new report from Zillow & Rover says dogs are driving consumers housing decisions. They say that more than 60% of dog owners consider their dog’s happiness and well-being for inspiring them to move.  In fact, a slobbering 3/4 of U.S. dog owners reported they’d consider moving to a home that better suits their dog’s needs.  The report identifies the top 20 fastest growing dog-friendly cities in America. To come up with their list, Rover & Zillow looked at newly registered dog-owner accounts from Rover’s database of millions of pet profiles, together with Zillow page views of pet-friendly single-family home…

A recent “Chart of the Week” from the Mortgage Bankers Association illustrates that the expiration of pandemic-related foreclosure moratoriums led to a modest increase in foreclosure starts from the record lows maintained over the past two years.  Citing data from their recent National Delinquency Survey, they said at 0.19%, the foreclosure starts rate remains below the quarterly average of 0.41% dating back to 1979.  The percentage of loans in the foreclosure process also rose in Q1 2022 to 0.53%.  In addition they report that the delinquency rate for mortgage loans on one‐to‐four‐unit residential properties fell to a seasonally adjusted rate…

Apartment List says rents are growing more slowly than they did in 2021, but faster than the growth they observed in the years immediately preceding the pandemic.   For the month of April, their national index was up by 0.9% with Year-over-year rent growth currently up16.3%.  However, over the first 4 months of 2022, rents have only increased by a total of just 2.5%. “Growth has cooled down substantially from last summer’s peak, but the total increase in 2022 to-date is still pacing ahead of the pre-pandemic norm for this time of year.” Click here to read the full report at…