Author: Brad Beckett

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…

The venerable American Automobile Association (aka AAA) says that America is on tap for another record-breaking number of travelers this holiday season – predicting that over 115 million people will do so.  Attributing those numbers to a good economy (and lower gas prices), AAA says over 104 million of those travelers will be driving to their destinations…we can already hear all the “are we there yet?”(s)….Indeed. “Holiday cheer is at an all-time high this year, with unemployment at historically low levels, and noted improvements in both disposable income and household net worth,” said Paula Twidale, vice president, AAA Travel. “Travelers…

According to ATTOM Data’s most recent U.S. Foreclosure Market Report, there were a total of 143,105 U.S. properties with foreclosure filings in Q3, 2019.  That number was 6% lower than Q2 and down 19% from one year ago – which they say is represents the lowest level since 2005.  In addition they report that Q3 2019 was the 12th consecutive quarter where foreclosure activity was below the pre-recession average. The top 10 states states with the longest average foreclosure timelines for homes foreclosed in Q3 of 2019 were Indiana (1,633 days); Hawaii (1,626 days); Nevada (1,511 days); New Jersey (1,173 days);…