Author: Brad Beckett

According to ATTOM Data’s latest Vacant Property and Zombie Foreclosure Report, zombie foreclosures represent only one of every 14,825 homes in Q1, 2021, which they say are just a minuscule portion of the nation’s 99 million residential properties.  In addition, they report that the states with the biggest increases from Q4 2020 in zombie properties, among those with at least 100 properties in pre-foreclosure in Q1 2021, included: Arkansas (up 63%), Texas (up 62%), Minnesota (up 32%), Massachusetts (up 24%) and Missouri (up 20%). “These days, you can walk through most neighborhoods in the United States and not spot a…

A recent report from Bankrate.com says that before the Coronavirus-induced recession, states like Utah were already “on fire,” however residents from high-tax states like California & Washington emigrating and added fuel to that fire.  States like Utah, Montana, Nebraska, Idaho and Indiana are hotter than ever as well as many others experiencing strong housing economies as of Q4, 2020. “Dave Robison, president of the Utah Association of Realtors, sums up the activity simply. “It’s insane,” says Robison, a real estate broker in Salt Lake City.” Bankrate.com says these five states had the strongest housing economies in Q4, 2020: Utah – …

A few years ago we shared a story about a prototype house that was being built by a mobile 3D printer, now fast forward to a new report from CNBC’s Diana Olick about the first ever 3D-printed homes for sale here in the U.S.  Olick says with builders up against skyrocketing lumber costs as well as a labor shortage, these homes could help alleviate the ongoing housing shortage.  Indeed….by the way, this Long Island, NY property has been listed on Zillow for $299k. Click here to watch at CNBC.com.

Last month we had a post about Generation Z entering the housing market and this month we’re discovering where they want to live.  A new report from RENTCafé says small towns in the heartland of America are now trending for Generation Z renters.  Yes…that’s right… they’re renting now but who knows for how long.  RENTCafé says this emerging cohort, aka Zoomers, is the fastest-growing active renter segment in the U.S. and their locations of choice are just the opposite of their Millennial predecessors.  Indeed… “Surprisingly, the trending locations preferred by Gen Z are small towns in the heartland, in the…

A few years ago, we discovered what $300k will get you in each state. Today’s infographic from the DailyInfographic takes a look at how much home (by square footage) you can get for $1 million in 50 major U.S. cities. And as they point out, a million dollars holds a very different value depending on the location.  Indeed…..Stay safe and have a Happy Friday!!! “Leading the pack in terms of pure value is Detroit, Michigan. In this city, a million dollars can snag you 22,222 square feet of property… The worst value in terms of how far a million dollars…

(UPDATED) Details are still emerging about how to apply for assistance under the Emergency Rental Assistance Program.  The federal government made $25 billion available to assist households that are unable to pay rent and utilities due to the COVID-19 pandemic. The funds were provided directly to States, U.S. Territories, local governments, and Indian tribes. Grantees use the funds to provide assistance to eligible households through existing or newly created rental assistance programs. “As we continue to struggle with the lingering effects of COVID-19, it is encouraging to see that the federal government has finally made resources available to state &…

In their recent 2020 market report, STORAGECafé says that even amid the Coronavirus pandemic and its subsequent economic downturn, the self storage industry pushed forward in 2020.  According to their report, current nationwide self storage inventory is close to 1.5 billion square feet, with 43.6 million square feet of new rentable space set to come online in 2021. “…self storage is a strong sector; it has proven its resiliency following the Great Recession and in the aftermath of COVID as well. Much of its value derives from the very nature of the industry as it’s a needs-based service. Self storage…

According to data from the most recent Survey of Consumer Finances (illustrated by the NAHB’s Eye on Housing), one’s primary residence continued to be the largest asset on the balance sheets for households in 2019, accounting for nearly one quarter of all assets held by households as well as surpassing other financial assets.  Indeed… “The Survey of Consumer Finances (SCF) is a triennial cross-sectional survey of U.S. families published by the Board of Governors of the Federal Reserve System. It provides detailed information on the finances of U.S. families, including income, net worth, balance sheet components, credit use, and other…

Rentable (formerly known as ABODO) says that the median nationwide rent price for one-bedroom units in March was $1,123 with two-bedroom units coming in at $1385.  Interestingly, they point out that none of the cities in their top ten loser/gainer lists moved more than 9%.  They say this is a “strong indication of a lackluster market as double-digit gainers and/or losers were not apparent.”  Indeed…. Click here to read the full report at Rentable.

Rental information site Zumper recently released their National Rent Report for March, 2021 showing that their median national rent for 1-bedroom apartment was $1,240 (up 1.1%) and the median two-bedroom rent was $1,501 (down 0.9%).  Be sure to look at their list of the top 100 metro areas. “2020 brought unprecedented shifts in the rental market, largely stemming from migration shifts brought on by the COVID-19 pandemic…..Two months into 2021, we’re seeing clear signs that these trends have plateaued, or even slightly reversed, following a bottoming out in 2020-Q4.” Click here to read the full report at Zumper.com.