Author: Brad Beckett

At their recent national meeting in San Francisco, the National Board of Realtors passed a resolution that bans “pocket listings” for realtors participating in its Multiple Listing Service (MLS).  The NAR’s board of directors took the step in a resolution entitled MLS Statement 8.0 (also known as the Clear Cooperation policy) which requires listing brokers to submit their listing to the MLS within one business day of marketing the property to the public, effectively ending the practice of “pocket listings.”  Local MLSs will have until May 1, 2020 to implement this new policy. “Within one (1) business day of marketing…

Kathy Fettke points out that we’ve seen a lot of volatility in the global economy these past few months with headlines are warning us about all sorts of economic uncertainties.  While it might be enough to upset the stock market, should real estate investors be concerned?  In a recent a recent episode of Real Estate News for Investors Kathy says it is important to understand that the real estate market is very different today than it was last decade and that the theme of 2020 will most likely be a “Slowing but Growing Economy.” Click here to read the transcript…

The NAHB’s Eye on Housing is reporting that after declining for six consecutive quarters, the home building component of America’s gross domestic product (GDP) increased during Q3 of 2019.  They attribute this gain to a housing rebound that started last spring, with the increase in single-family permits and starts.  Interestingly, they point out that while GDP in Q3 increased at 1.9%, the housing’s overall share increased by 14.6% over the same period. Click here to read the full story at the NAHB’s Eye on Housing.

What were the “hottest real estate markets” in October?  Realtor.com crunched the numbers and tells us that for the 4th straight month Ft. Wayne, Indiana topped their list of cities with high demand and low median days on the market.  To get their list, Realtor.com says homes in these hot markets received 1.5 to 2.5 times the number of views per home for sale compared to the national rate.  In addition, homes in these markets are seeing for sale homes move 16 to 29 days quicker than typical properties across the country.  Their list also shows that the Midwest continues…

According to data from the most recent American Community Survey (ACS), since the peak of the recession in 2008, the housing cost burden for U.S. homeowners has eased while it has remained stagnant for renters.  The ACS estimates the percentage of “burdened” households, or those spending 35% of their monthly income on housing costs) and provides a 10-year look at the trends from 2008 to 2018.  In 2018, for homeowners it was approximately 20.9% and for renters it was 40.6%.  Indeed… “The picture wasn’t quite as bright for the nation’s 43.8 million renters. An estimated 40.6% of rental unit residents…

Using data from the U.S. Census Bureau, a recent “chart of the week” from the Mortgage Bankers Association highlights the estimated and forecasted average annual change in U.S. population, by age group.  Among their findings, they say that while homeownership levels are strong among older groups, “even the relatively small renter share of the overall growth among older populations can mean significant demand for the apartment market.”  Indeed… “Housing demand in the U.S. is expected to grow considerably over the next decade, as the large Baby Boomer cohort grows into age groups formerly held by the Silent Generation, and Millennials…

According to the NAR’s 2018 Profile of Home Buyers & Sellers, the share of first-time buyers remained at 33% for 2019, which they say is a historic low.  In addition they report that a third of first-time home buyers used down payment help from family and friends.  The NAR also reports that that while tight inventory has caused steeper housing prices, home sellers in many parts of the country have been able to take advantage of the situation and have received a median of 99% of their asking price and sold their within about three weeks. “Low inventory conditions hurt…

Wireless fidelity, aka WiFi…We practically take it for granted nowadays.  Whether we’re looking up property records while sitting at a local Starbucks or crunching data at the office most of us use Wifi at some point during the day.   It’s practically ubiquitous.  However, this technology only started taking off about 15 years ago.  So, what is the history & future of wifi?  Today’s infographic from none other than Netgear sheds some light on the subject…Happy Friday!!! Hat tip to Netgear.com.

What does $1 million get you for a home in different cities across the county?   Well, Zillow says what that home looks like depends heavily on a town’s character, its building history, market pressures, legal guidelines and demographics.  They remind us that the house your money could buy in your town might look nothing like one you’d get across the country, or maybe even in the city next door. “In some cities…a million-dollar home is likely not to be a standalone house. In these places, it’s normal for owners of million-dollar properties to share walls with their neighbors…” Click here…

We first posted about this last summer when Airbnb announced that they were fighting back against Jersey City (a NJ suburb of New York City) over new laws that severely limit short-term rentals.  So, Airbnb gathered the requisite number of signatures to get it placed on November 5th ballot and then spent over $4 million on a campaign to repeal the legislation.  Now, fast forward to this past election day in which the measure was soundly upheld by voters with over 69% of the vote.  According to reports, Airbnb’s opponents, a coalition of  hotel industry and union workers, spent around…