Author: Brad Beckett

Disparate impact is back, although it’s arguable whether it ever went away;  The U.S. Department of Housing and Urban Development announced in late June that it is proposing to recodify its previously promulgated rule titled, “Implementation of the Fair Housing Act’s Discriminatory Effects Standard” (“2013 Rule”).   HUD believes the 2013 Rule better states Fair Housing Act jurisprudence and is more consistent with the Fair Housing Act’s remedial purposes.  The due date for public comments on the rule is August 24, 2021.  HUD prefers comments be submitted electronically and can be done so by clicking here.  Stay tuned… HUD PROPOSES RESTORING…

CNBC’s Diana Olick says getting rental assistance to the estimated 6 million+ tenants behind on their rent has been incredibly difficult and landlords are being “left in the lurch.” Click here to watch on CNBC.com. Click here for rental assistance resources state by state.

The U.S. Government is reporting that sales of new single-family houses in May, 2021 were at a seasonally adjusted annual rate of 769k, which is 5.9% lower than April’s revised rate and is 9.2% higher than one year ago.  The median sales price of new houses sold in May was $374,400 with an average sales price of $430,600.  There were an estimated 330k new houses for sale at the end of May representing a 5.1-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

With Summer finally upon us, now is a good time to get up to speed with those deadly whirlwinds that no one wants to see firsthand, tornadoes.  Today’s infographic from Weather.gov tells us about the types of tornadoes and how to identify them.  In addition, Home Depot recently put together a handy severe weather emergency checklist to not only be prepared but keep track of what you have onhand and and supplies you might need.  Remember, severe weather can strike at any time and with little to no warning.  And, as always, stay safe and have a Happy Friday!!! Hat…

FOXBusiness is reporting that the Biden administration has extended the CDC’s federal pause on evictions by one month through the end of July.  They are also reporting that the CDC said “This is intended to be the final extension of the moratorium.”  Indeed…..this story is developing…stay tuned. “The extension of the CDC Eviction Moratorium requires a response from the Judicial Branch.  No matter how much the country improves, vaccinations rates improve, unemployment rates drop, rental assistance spreads to those who need it, the agenda of some is to cancel rent, ban evictions by fiat and damage rental property owners…

On a recent episode of the Rent Perfect Podcast, David Pickron says as a landlord, having more eyes and ears looking out for your property can only help protect its value.  He discusses why knowing the neighbors of your rental properties can give you the upper hand in better managing and protecting your asset. Click here to listen on Spotify.com. 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 & securely. They offer the most accurate & thorough…

According to ATTOM Data’s Q1 U.S. Home Flipping Report, the nationwide flipping rate fell to its lowest level since 2000, with just 32,526 single-family homes and condominiums flipped, representing only 2.7% of all home sales.  In addition, their reported noted that as flipping dropped, both profits and profit margins declined as well.  However, they did a “deep dive” into the numbers and found those areas (by zip code) that nearly doubled in quarterly increases in home-flipping rates in Q1 2021. The top 10 zip codes were: 48239 – Redford, Michigan (up 99.9%) 48174 – Romulus, Michigan (up 99.7% 47201 -…

The National Association of Realtors is reporting that existing home sales were down 0.9% in May to a seasonally-adjusted annual rate of 5.80 million (up 44.6% from one year ago).  Total housing inventory at the end of May was 1.23 million units, down 20.6% from one year ago.  Unsold inventory sits at a 2.5-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $350,300, up 36.6% from May, 2020.  This was the largest year-over-year price increase that the NAR has ever recorded, going back…

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 June, 2021 Measured by retail spending, the recession was over several months ago. Just the idea that vaccinations will end the pandemic was enough to end the cautious behavior of consumers. It’s almost certain that Gross Domestic Product for the second quarter will be back above pre-pandemic levels. And so many people wanted to buy a home at a time of short supply that home prices…

Where did homeownership rise and fall the most across the country during the pandemic?  That’s the question the number-crunchers at Realtor.com recently put pen to paper to find out.  They looked at the 75 largest metropolitan areas (including the main cities & surrounding towns, suburbs, and smaller urban areas) and compared Q4 2020 homeownership rates and Q1 2021 with the same quarters from a year earlier.  Realtor.com says there were a variety of reasons why some markets gained homeowners and others lost them in this turbulent period with all coming down to price and desirability. Cheaper alternatives to bigger cities…