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.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
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…
When you take a look at the raw numbers, they’re quite startling. People (particularly wealthy people) who move to Florida from high-tax states can knock thousands of dollars off of their annual tax bills. States such as New York, New Jersey, Connecticut and California are seeing an exodus of high-income earners – especially in light of recent tax reform at the federal level which capped the state & local tax deduction (SALT), which effectively subsidized these states’ high taxes. A recent article in the Wall Street Journal (reposted on Realtor.com) highlights this growing phenomenon and how it is affecting shifts…
According to their annual Migration Patterns report, Atlas Van Lines said, in 2019, 26 states registered as balanced (moves in & out were roughly equal), 13 as outbound, and 11 as inbound. Interestingly, their data also showed an overall decrease in moves from 2018 to 2019. Atlas has annually conducted the Migration Patterns study since 1993 which tracks the nation’s interstate and cross-border (U.S. to Canada) moving patterns as reflected in moves handled by Atlas Van Lines. Next week, we’ll take a look at United Van Line’s annual movers study. Top 10 Inbound States (including DC): Idaho (62.3%) Washington (60.5%)…
A recent article in the Washington Post talked with seven of the nation’s leading housing organizations about what 2020 has in store for the housing market. The Post says that a strong job market along with low mortgage rates should sustain the housing market in 2020, however the problem will be low inventory. For their story, they talked with experts from the National Association of Realtors, Realtor,com, Redfin, Zillow, National Association of Home Builders, Mortgage Bankers Association, and Bankrate.com to get their predictions for 2020. Indeed… “With unemployment hovering at a 50-year low and interest rates well below historical norms,…
