The National Multifamily Housing Council (NMHC) says that 76.5% of apartment households made a full or partial rent payment by July 6th, 2021. This figure is 0.9% lower than those who paid rent through July 6, 2020. The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.7 million professionally managed apartment units across the country – representing a wide variety of market-rate rental properties that can vary by size, type and average rental price. Click here to read more at the NMHC.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The Tax Foundation says that since property taxes are tied to housing values, it makes sense that the actual dollar amounts of property taxes tend to be higher in places with higher housing prices. They recently put together a new map for 2021 that focuses on states’ effective tax rates on owner-occupied housing. “Governments tax real property in a variety of ways: some impose a rate or a millage—the amount of tax per thousand dollars of value—on the fair market value of the property, while others impose it on some percentage (the assessment ratio) of the market value. While values…
Last month we shared ATTOM’s top 10 zip codes where flipping is on the rise. Their latest U.S. Home Flipping Report showed that both the home flipping rate and gross profits declined nationwide in Q1 of 2021. However, that being said, we’ve come across another analysis of that same report from ATTOM identifying the top 10 markets with the fastest flip times. They say that flippers who sold homes in Q1 2021 took an average of 159 days to complete the transactions. ATTOM says that was the lowest level since Q3 2013, and down from an average of 175 in…
A recent report from Reason shows how the government and media relied on studies plagued by shoddy statistics to make the case for blocking evictions during the recent COVID-19 pandemic. They point out some deep flaws in two studies that got widespread media attention and that were cited by the federal government to support its policies. These studies claim to show that the moratoriums saved thousands of lives. Reason lays out a pretty good case to show how their results were implausible. Indeed… “These studies are deeply flawed. Their underlying data are incomplete and inconsistent. Their results are implausible. The…
According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 15.4% year-over-year in May. CoreLogic predicts that home prices will increase on a month-over-month basis by 0.8% through June, 2021, and on a year-over-year basis by 3.4% through May, 2022. “First-time buyers are hitting a wall in many places around the country as the pace of home price rises outpace the benefits of lower borrowing costs. Younger and first-time buyers, including younger millennials, are faced with the challenge of having sufficient savings for a down payment, closing costs and cash reserves. As we…
Today’s infographic from the Daily Infographic presents an hour-by-hour plan for getting through the workday after a night without sleep. They say, on its own, these tips will make the day seem shorter and more bearable. Indeed…. Happy Friday!!! Hat tip to the Daily Infographic.
Now that the pandemic is waning, Americans are hitting the roads again. In fact, Realtor.com points out that more than two-thirds of Americans said they plan to travel at some point this summer. In that vein, their number-crunchers put pen to paper to find the most profitable real estate markets for buying a short-term rental property to list on sites like Airbnb or VRBO. Indeed… “There’s a very big opportunity to buy cheap and make a lot of money in return,” says Luis D. Ortiz, a real estate broker who stars on Netflix’s “World’s Most Amazing Vacation Rentals.” The series…
The NAHB’s Eye on Housing says that the general window characteristic that home buyers value more than any other is energy efficiency. Citing data from the 2021 What Home Buyers Really Want report, they say the top three were ENERGY-STAR rated windows followed by tripled-pane insulating glass, and low e-insulating glass. Interestingly, buyers tended to be relatively indifferent about the materials used for the window frames. Click here to read the full report at the NAHB’s Eye on Housing.
On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talked with Brian Spear about the state of Mobile Home Park Investing. A graduate of the University of Kentucky, Spear discusses the trajectory that led him to investing in real estate, and the systems and tools he’s using to not only build a world-class mobile home park portfolio, but to manage it as well. He also discusses some new investments he’s making in parking lots and parking garages, and why he finds this such an exciting asset class. Click here to listen at the…
Rentable says that the median nationwide rent price for one-bedroom units in June was $1,162 (up 1.4%) with two-bedroom units coming in at $1421 (up 1.23%). For the year-to-date, Rentable says one-bedrooms are now up 3.38% and two-bedrooms have gained 2.82%. Be sure to check out their full data set of U.S. cities. “The laws of supply and demand rule, and with immense post-pandemic consumer demand, prices just keep rising, and this upward pressure continues to spill into apartment rental arena. While the supply and demand issue will eventually balance itself, until we see interest rate increases that may result…
