Recently we saw a garden shed apartment that was being rented out for over $1k per month, now we’ve learned from CNBC’s Diana Olick, that more & more homeowners are carving out revenue streams from their backyards by constructing auxiliary dwelling units (ADU). So, what is this new real estate investing trend and how exactly does it work? Click here to read the full story at CNBC.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
When you’re researching a property, have you ever wondered, “did someone ever die or get killed here???” An eerie online site called DiedInHouse.com will, for a small fee, generate a report using millions of records to determine if a death occurred at any valid US address. Their reports can also contain information about that death as well as any meth lab activity, fires or other data that might be available but unknown to potential buyers (or even the seller). According to an article on Forbes, the service was founded several years ago when its founder went searching for information after…
We have posted a lot about the growing segment of retiring baby-boomers and where/how they’re going to live. A new report from Harvard’s Joint Center for Housing Studies (JCHS) says “housing inequality is becoming increasingly evident among older Americans as the number of older households climbs to unprecedented levels” and with that the requisite cost burden warnings. However, they also remind us that between between 2012-2017, the number of households headed by someone 65+ grew from 27 million to 31 million. And, as real estate investors know, they will all need a place to live – whether it’s a downsizing…
The good folks over at Realtor.com said that it seems like everyone is getting into real estate game or at least dreaming about it. In fact, they remind everyone that it’s just not as easy as it looks on HGTV and that something called reality sets in. That’s why their economics team crunched the numbers to find the hottest markets for investors – the ones with cities where the highest percentages of home sales are for flipping or turned into rentals, usually after a rehab. “To truly make bank in the housing investment game, you need to pick your markets…
The U.S. government is reporting that privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,256,000. This figure is 9.4% below August’s revised estimate but is 1.6% higher than September, 2018. Single‐family housing starts in September were at a rate of 918k, which is 0.3% above August’s revised figure. September’s rate for units in buildings with five units or more was 327k. Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,387,000. This figure is 2.7% below August’s revised rate but is 7.7% higher than September, 2018. Single‐family…
Fall is firmly upon us and with that in mind, today’s infographic from Today’s Homeowner (from their 4 Seasons of Homeownership) goes over some simple things you can do to prepare your home for winter. Happy Friday!!! Hat tip to TodaysHomeowner.com.
We have had several posts about owning vacation homes – whether to rent them out, use them as a 2nd home or both. With that in mind, a new report from the National Association of Realtors says that increased financial wealth and low mortgage rates have boosted the demand and price of vacation homes. In fact, they report that between 2013 & 2018 the median sales price in “vacation home counties” increased at a slightly higher pace than all new & existing homes sold. They used data from the U.S. Census Bureau’s American Community Survey to examine the 206 counties…
A new startup called Doorstead doesn’t want you to miss out on a month’s rent just because you can’t find a tenant. Calling themselves a “full-service property management with guaranteed rental income,” the new company will not only manage your property but guarantee rent for rent for a certain number of days – even if it can’t fill the unit. In addition TechCrunch reports that they will handle all the algorithmic pricing, advertising, tenant screening, repairs & maintenance, leases and online payments in exchange for just 8% of the rent. Caveat emptor indeed…. “Owners just sit back and receive the…
A recent poll from none other than the University of California, Berkeley, reveals that 52% (of the nearly 5k registered-voters polled) said they had given “serious” or “some” consideration to leaving California and that most of them cited high housing cost as part of that reason. In fact, 71% of all respondents cited housing costs as the reason they had considered leaving California, followed by high taxes (48%) and the state’s political culture (46%). In addition, Reuters pointed out that the study’s authors said “that the partisan and ideological differences in voters’ feelings about living in California had widened even…
A REO speed wagon they are not; HousingWire is reporting that Citibank was recently fined $30 million for holding onto foreclosures for far too long, exceeding a 5-year REO limit on hundreds of homes. They reported that under the Office of the Comptroller of the Currency (OCC) regulations, there is a two-year limit on banks maintaining possession of a foreclosed property, although banks can apply for an exemption that takes it up to 5 years. Citibank said the the issue only applied to 200 properties. Indeed… “The OCC found the bank engaged in repeated violations of the statutory holding period…
