The VisualCapitalist says that real estate value is concentrated in our larger cities. Today’s infographic shows how they stack up and reveals the median value of a home in America’s 30 most valuable cities. It will be interesting to see if they revisit this data, post-pandemic. Indeed… Stay safe and have a Happy Friday!!! Hat tip to the Virtual Capitalist.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The Wall Street Journal is reporting (reposted on Realtor.com) that refrigerators, ovens and other appliances are getting a hygienic makeover during the Covid-19 pandemic. They say manufacturers are rolling out home appliances featuring sanitizing heaters and ultraviolet light as shut-in consumers seek these types of upgrades. In fact, the WSJ calls it a “hard pivot toward hygiene” as the pandemic is showing no sign of letting up. Indeed… According to Mark Choe, a senior vice president at Samsung’s digital appliances business division, “all of our product development now is being done through the lens of hygiene.” “…virus-weary buyers are perking…
According to recent numbers crunched by the NAHB’s Eye on Housing, new home inventory is sitting at a 3.5-year low. They point out that even with the level of sales remaining high, they exceeded construction starts by historic margins at the end of summer – driving new home inventories to a more than three-year low. Indeed… “Despite recent flat growth conditions, the October sales rate was 42% higher than a year ago, as housing demand continues to be supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs…
As we have seen over and over again, there is a dearth of housing inventory all across the nation. While the reasons have many variations, the fact remains – there is a housing shortage. A recent article in the New Hampshire Union Leader featured a member of the New Hampshire Real Estate Investors Association that is adding value back into neighborhoods by flipping distressed homes. Interestingly, as the Union Leader points out, the threat of COVID-19 has caused some sellers to shy away from allowing potential buyers to tour their homes. However, this unfortunate aspect has not been a barrier…
Out-of-state investing has been hot for sometime, long before the pandemic got its grip on our nation. A recent article by HousingWire says high-cost and high-density urban is out and while suburban is back in vogue, rural is experiencing a bit of a revival. They even acknowledge that many real estate investors were “serendipitously” ahead of this market shift, driven by an “affordability and an affinity for overlooked markets.” Indeed… “Currently I’m in some of the Southern markets like Alabama, Mississippi, Texas, Indianapolis, Ohio. Those markets I’m able to put a little bit less money in but also make a…
Yes, you read that headline correctly. According to FOX News the Coronavirus pandemic has many Americans relocating out of crowded cities into more open places and some cities & states are actually paying people to move on in. What’s the catch? Well, criteria varies by each jurisdiction but one thing stands out – you must add some value. The places identified by FOX News are: Tulsa, OK Savannah, GA Topeka, KS Newton, IA Hamilton, OH Arkansas Alaska Click here to read the full story at Foxnews.com.
Smaller Rental Property Owners Are Suffering, Government Needs to Act! Many are Facing 20-30% Delinquency Rates (Crestview Hills, KY) The National Real Estate Investors Association says individual property owners, most of whom own less than 50 rentals and live in close proximity to their properties, are bearing the brunt of eviction moratoria put in place by various government entities across the nation. Over 30% of these small “mom & pop” owners (owners of duplex/fourplex and single-family homes) expect to be bankrupt in the next 6 months. When you consider that individual rental property owners constitute over 40% of U.S. rental…
National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in November was $1,119 with two-bedroom units coming in at $1369. ABODO says if there is additional bad health or economic news rents could stagnant again. Indeed… “We all have pandemic fatigue, and as we await better COVID-19 therapeutics and a series of vaccines, the economy continues to look forward. The stock market has reached new highs, the price of oil has stabilized, and the presidential election outcome seems to be clearer…” Click here to read the full report at ABODO.com.
It is that time of the year (and oh, what a year it has been) for all the prognostications about what’s going to happen in the new year of 2021. Realtor.com says that anyone who said 2020 was “a year of surprises is an extreme understatement.” And, to that end, they recently released their 2021 Housing Market Forecast in which they say they expect to see a strong spring and summer homebuying season. Indeed…. “We expect housing’s winning streak to continue in 2021 as seasonal trends normalize and some of the frenzied momentum fades thanks to fresh affordability challenges. Below…
It’s the holiday season…and on that note, with Thanksgiving firmly behind us it’s time to think about Christmas! This week’s infographic from the Home Depot asks us, “What’s your Christmas Tree personality?” – starting off with your favorite pizza, of course! Stay safe and have a Happy Friday!!!! Hat tip to the Home Depot.
