Author: Brad Beckett

According to EllieMae’s latest Origination Insight Report, interest rates rose for the first time in 2019, increasing to 3.97%, up from 3.94% in October.  In addition, the percentage of adjustable rate mortgages also increased for the first time in 2019, rising from 5.0% in October to 5.3%  in November. The percentage of refinances dropped back below 50%, falling from 51% in October to 49% in November. “Interest rates rose for the first time in 2019, and as expected we are seeing the percentage of adjustable rate mortgages rise and the percentage of refinances taper off,” said Jonathan Corr, President and…

Just before slipping (slithering?) out of town for their annual Christmas break, Congress passed (and subsequently signed by the President) the $1.4 trillion Further Consolidated Appropriations Act that will fund the federal government for the rest of FY 2020.  However, sneakily tucked into that measure was something that will cause investors to take notice:  the SECURE Act (Setting Every Community Up for Retirement Enhancement).   The bill had already passed the House back in April, 2019 but had been languishing in the Senate until it was amended into this fast-tracked funding bill. National REIA partner Equity Trust pointed out that “the…

The National Association of Realtors is reporting that existing home sales were down 1.7% in November, however both the Northeast and Midwest regions both reported growth.  The median existing-home price for all housing types was $271,300, up 6.2% from November, 2018 – marking 93 straight months of year-over-year gains.  Total inventory at the end of November was 1.64 million units, down approximately 7.3% from October and down 5.7% from one year ago.  Total unsold inventory was at a 3.7-month supply at the current sales pace. Properties remained on the market for around 38 days in November. Lawrence Yun, NAR’s chief…

The U.S. government is reporting that privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,365,000.  This figure is 3.2% above October’s revised estimate of and is 13.6% higher than November.  Single‐family housing starts in November were at a rate of 938k, which is 2.4% higher than October’s revised figure.  November’s rate for units in buildings with five units or more was 404k.  Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,482,000.  This figure is 1.4% higher than October’s revised rate and is 11.1% higher than November,…

If you haven’t got your Christmas shopping done by now you’d better get cracking! In the meantime, here’s a handy graphic about the origins of Santa Claus and how the current incarnation of him came to be.  We truly hope you have a safe & happy holiday season as well as a Merry Christmas!  And of course, Happy Friday!!! Hat tip to degreeresearch.org.

End of year statistics from the U.S. Department of Labor’s Occupational Safety and Health Administration’s (OSHA) showed a significant increase in the number of inspections and a record amount of compliance assistance to further their mission of workplaces free of hazards.  Under the Occupational Safety and Health Act of 1970, employers are responsible for providing safe and healthful workplaces for their employees. OSHA’s role is to help ensure these conditions for America’s working men & women by setting and enforcing standards, and providing training, education and assistance. The full release is listed below: OSHA Enforcement and Compliance Increases in 2019…

As part of their recent 2020 State Business Tax Climate Index, the Tax Foundation calculated state & local taxes on real and personal property, net worth, and asset transfers.  The property tax component accounted for 16.6% of each state’s overall Index score.  Taking that data, they put together a ranking of all 50 states to see which state had the best business tax climate and which had the worst. They rightly point out that property taxes impose one of the most substantial state & local tax burdens most businesses face.  Indeed… “Property taxes matter to businesses for several reasons. First,…

According to the latest CoreLogic Homeowner Equity Report, U.S. homeowners with mortgages (64% of all properties) have seen their equity increase by nearly $457 billion since Q3 2018 – representing a 5.1% increase, year over year.  In addition, the total number of mortgaged residential properties with negative equity decreased 4% from Q2 2019 to 2 million homes, or 3.7% of all mortgaged properties.  The CoreLogic Homeowner Equity Insights report, is published quarterly with coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes negative equity share and average equity gains. The report features an interactive view…

We’ve been following the millennials for a few years now…Maybe this is it.  Citing recent housing data, Mad Money’s Jim Cramer says the wait is over as millennials are now buying homes in larger numbers than before.  He says millennials’ delay in buying a home is over and that the spending is just beginning.  Indeed… “After a decade of cocooning, millennials want to buy homes that represent value, which is in keeping with the way they shop for everything else.”  Click here to read the full story at CNBC.com.

We have all heard about immigrants coming to America and becoming highly successful….but what about in real estate investing?  In a recent episode of the Rental Property Owner & Real Estate Investor Podcast, host Brian Hamrick talks with an Australian man who came to America with no job, no family, no network, and little money –  he just had a “Gut-Feeling” that he could be successful! Nine years later and he controls over $150 Million in Commercial Real Estate, is a Best-Selling Author, and hosts a podcast about real estate investing.  How did get started?  At his local REIA!  G’day…