Author: Brad Beckett

In early March, a federal judge blocked implementation of a new Oregon law that effectively banned personal letters (aka Love Letters) written by prospective homebuyers to sellers.  According to the Washington Examiner, the law, which went into effect in early January, sought to stop sellers from making decisions based upon factors such as race, gender, or sexual orientation as a result of the influencing letters.   The suit was brought by the Pacific Legal Foundation on behalf of a real estate firm arguing that the law violated the First Amendment.  They said the ban violated the free speech of real estate…

Redfin says that after steadily rising for a decade, homeowner tenure flattened near its peak in 2021.   They point out that in 2021, the typical American homeowner had spent around 13.2 years in their home.  They attribute this slight decline to so many Americans moving during the pandemic, thanks to record-low mortgage rates and pandemic-fueled remote work – often to more affordable areas.  Be sure to check out their entire list of U.S. metros. “Homeowner tenure may have already peaked, or the decline in 2021 could be a blip before it climbs back up…There are competing forces at work. Remote…

According to recent data from the Associated General Contractors of America, construction employment increased by 60k jobs between January and February, 2022, marking the steepest pace in nearly 40 years.  AGC officials said the industry will need to hire hundreds of thousands of additional workers in each of the next several years to complete projects that will be funded by the recently enacted bipartisan Iifrastructure law, as well satisfying the continuing demand for homebuilding and private nonresidential structures. “All segments of construction added workers in February,” said Ken Simonson, the association’s chief economist. “However, filling positions remains a struggle, as…

According to the ATTOM Data’s Q1 2022 Vacant Property and Zombie Foreclosure Report, there were 1.4 million (1,354,579) residential properties in the United States sitting vacant, representing 1.4%, or one in 73 homes, across the nation.  In addition, they report that there were 229,864 residential properties in the U.S. are in the process of foreclosure in Q1, up 3% from Q4, 2021 and up 31% from Q1, 2021.  Zombie foreclosures represented a minuscule portion of the nation’s total stock of 98.8 million residential properties with just one of every 13,424 homes in Q1, 2022 being vacant and in foreclosure. “Even…

On a recent episode of Real Estate News for Investors, Kathy Fettke says rents are not just making a rebound after a dip during the pandemic, they’re blowing right past the monthly cost of buying a home in more than half of the largest housing markets.  She points out that it’s now more affordable to buy a home in 26 American cities, than it is to rent. Click here to listen on Spotify.com.

The U.S. government is reporting that total construction spending in January, 2022 was at a seasonally adjusted annual rate of $1,677.2 billion, which is up 1.3% from December’s revised estimate.  Residential construction came in at a seasonally adjusted annual rate of $829.4 billion in January, 1.3% above December’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

This week’s infographic is really a no-brainier.  It illustrates just a few of the awesome benefits of joining a real estate investors association, or REIA as they’re commonly known.  You really do get “a bang for your buck” when you become a part of a local community of real estate investors.  Click here to find a REIA near you!  Happy Friday!!! Click here to find a REIA near you!

According to ATTOM Data’s latest U.S. Foreclosure Market Report, In January there were a total of 23,204 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions).  This figure is up 29% from December and 139% from a year ago.  In addition, they say lenders repossessed 4,784 U.S. properties through completed foreclosures (REOs) in January, up 57% from December and a whopping 235% from a year ago. “The increased level of foreclosure activity in January wasn’t a surprise…Foreclosures typically slow down during the holidays in November and December and pick back up after the first of the year.…

According to recent data from the Tax Foundation individual income taxes are a major source of state government revenue, and account for roughly 36% of state tax collections with forty-two states levying individual income taxes.  “…their prominence in public policy considerations is further enhanced in that individuals are actively responsible for filing their income taxes, in contrast to the indirect payment of sales and excise taxes.” Click here to read the full report at the Tax Foundation.

With the Baby Boomers firmly in the retirement lane (with the blinker on, of course) and subsequent generations already there, the folks over at the U.S. Census Bureau recently published a new report detailing the income sources of older households.  The report examines older households’ sources of income, the amounts of these incomes, and how much each source of income contributes to the total. As would be expected, older households receive income from a variety of sources, including social security, private retirement accounts, and earnings. “Older households receive income from a variety of sources…The types and amounts of income are…