Author: Brad Beckett

Short-term rental site Airbnb recently announced that they are developing a new Cleaning Protocol for hosts.  Their Enhanced Cleaning Initiative uses guidance from former US Surgeon General Dr. Vivek Murthy and leading experts in hospitality & medical hygiene.  The new protocol launches in May and will include specific information on COVID-19 prevention, such as the use of personal protective equipment, like masks and gloves for hosts or their cleaners, as well as disinfectants that are approved by regulatory authorities.  In addition, Airbnb says a CDC recommended 24 hour wait period before entering will also be also required, as a precaution…

One of the largest lenders in America, Wells Fargo,  announced in early May that it temporarily stop accepting applications for home equity lines of credit (HELOCs) due to the uncertainty around the Coronavirus pandemic.  As reported by CNBC, the bank said that that HELOCs are riskier products for banks because during foreclosure, the lender for the primary mortgage would be first in line to get paid in a recovery.  Wells Fargo joins JP Morgan Chase who made a similar decision a few weeks earlier. “Wells Fargo Home Lending will temporarily stop accepting applications for all new home equity lines of…

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices were up 0.7% in February, 2020.  In addition, they report that home prices were up 5.7% from one year ago.  The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s.  The FHFA’s HPIs are built on tens of millions of home sales and offer insights about home price fluctuations at the levels of the nation,…

The Coronavirus pandemic has taken a heavy toll on people and businesses all across the nation.  It seems like daily we see doom & gloom stories about the economy and effects of the Covid-19 disease on everyday Americans.  However, a REIA-leader from St. Louis’s Metro-East REIA recently shared a note with us that a landlord passed along to her.  The note is from one of his tenants that included an extra $100 for “another tenant who isn’t as fortunate.”  The kindness and generosity of someone’s simple action can be a humbling experience.  It can serve as a reminder that there…

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in May was $1,092 with two-bedroom units coming in at $1,347.  They see no double-digit winners or losers on any of our top ten lists, which they say is indicative of a flat market. “Right now, we are looking for apartment rents trends to continue to flatten or even to dip more significantly as the pandemic plays out.” ABODO uses over 1 million listings across the United States to calculate the median 1-bedroom rent price by city, state, and nation and then track the…

Rental information site Zumper recently released their National Rent Report for May, 2020 showing that the median national rent for 1-bedroom apartment was $1,220 (down 0.1%) and the median two-bedroom rent was $1,474 (up 0.2%).   Year to date, one-bedroom prices are down 0.1% and two-bedroom prices were flat.  Zumper also said they recently conducted a survey of their users about the ongoing pandemic and will share full results later this month. “We recently ran a survey of Zumper users…and found that 67% were financially impacted from the pandemic. Of those impacted, 35% lost their job or received a pay cut.…

The U.S. government is reporting that total construction spending in March was at a seasonally adjusted annual rate of $1,360.5 billion, which is 0.9% higher than February’s revised estimate.  However, March’s figure was 4.7% higher than March, 2019.  Residential construction was at a seasonally adjusted annual rate of $550.3 billion in March, which is 2.3% above February’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

Did you ever hear the old rhyme, “leaves of three, let it be?” Today’s infographic reminds us that as warmer weather approaches, and landscaping moves to the forefront, we need to be mindful about what else might be growing around your property.  The Infographics Archive reminds us that the poisonous plants will arrive with the beneficial ones and good lawn management will keep a property both healthy, aesthetically pleasing, and safe to walk on.  Indeed…As if we already had enough to worry about…..As always, stay safe and have a Happy Friday!! Hat tip to the Infographics Archive.

According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, the rate of home price increases reported a 4.2% annual gain in February.  Their 10-City Composite annual increase came in at 2.9% and the 20-City Composite posted a 3.5% year-over-year gain.  The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. “The stable growth pattern established in the last half of 2019 continued into February,” says Craig J. Lazzara,…

The National Association of Realtors is reporting that pending home sales were down 20.8% in March with the NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) decreasing to 88.2.  In addition, they reported that year-over-year contract signings were down 16.3%.  The NAR says these declines were expected as a result of the ongoing Coronavirus pandemic and they are temporary.  Indeed…. “The housing market is temporarily grappling with the coronavirus-induced shutdown, which pulled down new listings and new contracts,” said Lawrence Yun, NAR’s chief economist. “As consumers become more accustomed to social distancing protocols, and with the…