Author: Brad Beckett

According to the latest Yardi Matrix, the average U.S. rent fell $1 in December to $1,474, with the growth rate falling 10 basis points from November. However, Yardi points out that U.S. multifamily rents finished 2019 up 3.0% with year-over-year growth remaining between 3.0% and 3.3% for the entire year. “Fundamentally, the market is sound, with no red flags on the immediate horizon. Despite deliveries of roughly 300,000 units for the year, the occupancy rate for stabilized properties was 94.9% as of November, down only 10 basis points over the last year. The healthy job market, averaging 180,000 new jobs…

The  National Association of Landscape Professionals (NALP) recently released their top five lawn & landscape trends for 2020. According to the report, they tapped into the expertise of landscape professionals from across the country to predict design & maintenance trends that will create healthy and beautiful green spaces across America.  The NALP represents an industry that employs nearly 1 million landscape, lawn care, irrigation and tree care professionals who create and maintain healthy green spaces for the benefit of society and the environment.  Indeed… “Foundational landscape elements remain on homeowners’ wish lists, but modern updates and technology are now a…

According to the Real Deal, Airbnb is gearing up to host over 34k bookings (so far) in South Florida during the upcoming Super Bowl 54 weekend.  By comparison, last year’s Super Bowl in Atlanta had less than half of that number.  In addition, they report that Airbnb’s average daily rate in Miami-Dade & Broward counties during the Super Bowl weekend is currently $120 and $150 – which they say is more affordable that hotel rates.  Indeed… “Airbnb hosts have already picked up more than 34,000 bookings for the weekend of Super Bowl LIV, Jan. 30 to Feb. 2. That tops…

As we have previously posted, Cincinnati recently became the first city in the nation to require landlords to accept so-called security deposit insurance in lieu of an actual security deposit.  On a recent episode of Neil Cavuto’s Coast to Coast, National REIA’s Charles Tassell discusses Cincinnati’s new rental deposit law and how it is very similar to a pay-day loan – which could ultimately end up doing more harm than good.  Click on the image below to watch the interview. Click here to watch on FOXBusiness.com.

The pest control and rodent removers at Orkin recently released their annual Top 50 Bed Bug Cities list.  Topping their list this year is Washington, D.C.  Orkin’s list is based on treatment data (residential & commercial) from metro areas where they performed the most bed bug treatments from 12/1/18 through 11/30/19. “The key to preventing a bed bug infestation is early detection,” Hartzer said. “When one or more bed bugs enter a space, we call it an introduction. During an introduction, bed bugs probably haven’t started reproducing yet, but they could soon. Vigilance is key to stopping bed bugs before…

The U.S. government is reporting that privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,608,000.  This figure is 16.9% higher than November’s revised estimate and is 40.8% above one year ago.  Single‐family housing starts in December were at a rate of 1,055,000, which is 11.2% higher than November.  December’s rate for units in buildings with five units or more was 536k.  In addition, for 2019 there were an estimated 1,289,800 housing units were started which is 3.2% higher than 2018.  Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual…

A recent survey by the National Association of Realtors found that half of those polled (63%) said now is a good time to make a home purchase.  Likewise, 74% of those polled believe that now is a good time to sell.  Well, there you have it…..let’s get flipping!  Happy Friday!!! Hat tip to the National Association of Realtors.

Kathy Fettke’s podcast starts off the new year with a run-down of 2019’s significant stories affecting real estate investors.  She says reviewing these important stories will help investors focus on where they are coming from and give them a better understanding of what’s next.  Last fall she said the theme of 2020 will most likely be a “Slowing but Growing Economy. This is part 2 of a two-part report.  Click here to read the transcript at Realwealthnetwork.com.

Apparently, California still has more tricks up its sleeves to potentially drive out businesses and residents.  As part of his annual state budget, California Governor Gavin Newsom included a proposal for the state to establish its own Consumer Financial Protection Bureau.  According to the LA Times, the proposal would overhaul the existing Department of Business Oversight and rename it the Department of Financial Protection and Innovation.  In addition, they report that the Governor’s office said no new funding will be required.  Indeed… “Details at this point are scant. But it appears what California is trying to do is create a…

Late last month (December, 2019) the final regulations for Opportunity Zones were published by the IRS.  A recent story on Bloomberg Tax by Forrest Milder of Nixon Peabody LLP gives an overview of the final OZ regulations’ highlights and how the IRS addressed the many comments & suggestions.  However, the author cautions that it will still take time for tax advisors to sort through all of the ins & outs, especially those issues left unaddressed and/or “under-addressed.”  Indeed… “…the IRS deserves a great deal of credit for working its way through so many comments and suggestions and applying an excellent…