Author: Brad Beckett

According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, home prices continued to climb with a 5.5% annual gain in September, down from 5.7% in August. Their 10-City Composite annual increase came in at 4.8% and their 20-City Composite posted a 5.1% year-over-year gain.  However, they do point out that the rate of home price increases across the U.S. slowed for the second month in a row.  The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate…

The U.S. Government is reporting that sales of new single-family houses in October, 2018 were at a seasonally adjusted annual rate of 544k.  This figure is 8.9% below September’s revised rate and is 12% lower than October, 2017.  The median sales price of new houses sold in October 2018 was $309,700 and the average sales price was $395k.  There were an estimated 336k new houses for sale at the end of October representing a 7.4 months supply at the current sales rate. Click here to read the full report at census.gov.

Do you own just a single investment property?  Thinking about another?  Today’s infographic from FortuneBuilders poses six questions to ask yourself before buying another.  They rightly point out that that buying a second investment property can serve as a vehicle for expanding your business and move you closer to your financial goals. However, managing more than one property brings a new set of challenges and implications that can make anyone hesitate. Today’s infographic equips you with invaluable tips, as well as key questions that can help you determine whether or not you are ready to take on a second property. …

No matter where you live, or where you own properties, you’re paying utility costs.  A recent report by move.org (illustrated by howmuch.net) took a look at the average costs for five utilities across the nation – electricity, natural gas, internet, cable and water.  They analyzed data from several sources in order to give a true apples-to-apples comparison of costs across all 50 states. The top 10 states with highest costs per month: Hawaii: $730.86 Alaska: $527.96 Rhode Island: $521.98 Connecticut: $496.07 New York: $477.31 New Hampshire: $477.02 South Carolina: $473.78 Massachusetts: $469.13 Vermont: $468.3 Maine: $464.45 Click here to read…

Earlier this year a realtor in Houston, Texas enticed buyers with “free tacos” with the purchase of a home.  Now we’ve come across another “innovative” realtor in the same market that used half-naked models to help promote a listed property.  According to the Houston Chronicle, with the approval of the homeowner, the realtor posted photos of scantily-clad fitness models posing throughout the home.  Of course as the complaints started rolling in they were promptly removed.  However the models helped garner over 20k views within the first 24 hours of its posting. The report also quoted the realtor as saying she’s…

Black Knight is reporting that after rising sharply in September, mortgage delinquencies fell by 8.2% in October and are now down by nearly 18% year-over-year.  Their October “first look” report also says serious delinquencies (90 or more days past due) have hit a 12-year low and are down 90k from one year ago.  In addition, the number of loans in active foreclosure fell slightly from September and has decreased by 24% from last year.  Black Knight derives its data  from their loan-level database representing the majority of the national mortgage market. Click here to read the full report at Black…

Local Market Monitor, a National REIA preferred vendor, recently released their National Economic Outlook for November, 2018 where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook – November 2018 November 27, 2018 By Ingo Winzer The Gross Domestic Product is one way of looking at the economy. It includes consumer spending, what companies invest in new equipment and buildings, changes in business and farm inventories, exports and imports, and government spending. In the news we usually hear how much it’s changed from quarter to quarter, which varies a lot. But if we look at…

Now that Amazon has revealed the three locations of their second headquarters (aka HQ2), the folks over at ATTOM Data zeroed-in on those locations (New York, Washington, D.C., and Nashville) to analyze their markets vis a vis the new Opportunity Zones created by Congress last year.  Interestingly they found that homes located in Opportunity Zones nationwide and in each of these three markets consistently were sold at a discount but also have appreciated more quickly over the past five years compared to homes outside of the Opportunity Zones.  Their analysis looked at housing characteristics, such as home values and price…

The National Association of Realtors is reporting that existing-home sales increased in October for the first time in six months.  According to data, there were 5.22 million completed transactions in October with a median price (for all housing types) of $255,400.  In addition there were 1.85 million existing homes for sale at the end of October with properties typically staying on the market for 33 days.  Unsold inventory is at a 4.3-month supply at the current sales pace. Lawrence Yun, NAR’s chief economist, says increasing housing inventory has brought more buyers to the market. “After six consecutive months of decline,…

The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,228,000. This figure is 1.5% above September’s revised estimate but is 2.9% below October, 2017.  Single‐family housing starts in October were at a rate of 865k, which is 1.8% below September’s revised number. The October rate for units in buildings with five units or more was 343k.  Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,263,000. This figure is 0.6% below September’s revised rate and is 6% below the October ,2017.  Single‐family…