Beginning in June and going through November, this year’s hurricane season is well underway. In fact, Hurricane Barry recently crawled up the Mississippi Valley – a storm that seemingly popped up overnight. That being said, the folks over at Restoration 1 put together this handy chart about the types of hurricanes and their potential for damage. While most of the country is spared from a direct hit, the rest of us still feel the effects in one way or another – especially if you live in the Midwest. Happy Friday!!! Hat tip to Restoration 1.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
According to NAR publication Realtor Magazine, a recent survey by blockchain provider Shelterzoom, Realtor commissions are the top reason for consumer dissatisfaction in real estate transactions. The perhaps “obvious” finding was part of a survey of over 1k consumers to find out their top complaints and concerns in the homebuying process. In addition, they report that almost 43% of consumers say the agent’s commission is too high along with other cited issues including lack of transparency, conflict of interest, and lack of communication. Indeed… “I’m not that surprised by these findings, as they have been concerns for as long as…
Who are buying properties to rent out as a vacation homes? A recent report from rental site Vacasa says the best way to sell a vacation home is to know who’s in the market to buy one so they commissioned a survey to find out. Interestingly, they show that more mature millennials and young Gen Xers (30s to early 40s) are more likely to evaluate vacation rentals for investment potential, while those buyers 55+ tends to personal use a priority. Indeed… Click here to read the full report at Vacasa.com. Click here to read the “Percent of Vacation Homes in…
What is the percentage of vacation homes in each U.S. state? Investment property exchange site IPX1031 sifted through census data (which defines a vacation home as a housing unit that is “vacant for seasonal, recreational, or occasional use”) to come up with 50-state list of the hottest spots. They looked through 29k different census designated places across all 50 states and then ranked the top three locations in each state with the most vacation homes. Be sure to look at the entire list on their website. “When you think of a popular vacation home hot spot, images of sandy beaches…
America’s suburbs are experiencing growing pains from a large flow of new residents, which is straining schools, traffic and other resources. A recent story in the Wall Street Journal (reposted on Realtor.com) highlights these struggles as well focusing on area outside of Raleigh, NC where this phenomenon is taking place. We also had a recent post here featuring an interview with the article’s author. “In the early 2010s, after the financial crisis walloped the housing market, average growth rates in cities with populations greater than 250,000 outpaced the suburbs. But over the past five years, the average annual growth in…
According to the latest Yardi Matrix, U.S. multifamily rents rose slightly in June, coming in at $1,465 with year-over-year growth increasing slightly to 3.3%. Yardi says rents “rose robustly” in Q2 with the market’s consistent growth once again showing no signs of waning. Indeed… “Absent an unforeseen exogenous event, demand for multifamily shows no signs of abating. That doesn’t address whether rent growth can remain elevated, but rents have stayed at above-trend levels during several years of robust supply increases and ongoing issues with affordability, so it seems foolish to discount the market’s potential to maintain its performance over the…
You could say that sales taxes are the one tax that truly affects every person – it’s the classic consumption tax. It is also the one politicians often reach for to ratchet-up for their favorite pet project. That being said, the folks over at the Tax Foundation recently put together some numbers showing combined sales tax rates (state & local where applicable) for each state. Interestingly, there are five states that do not have a state sales tax and there are some with a sales tax but no income tax. It all adds up and it certainly helps determine an…
The U.S. Census Bureau recently released their 2018 Characteristics of New Housing Report that provides annual statistics on the characteristics of new privately-owned residential structures. The report also includes characteristics such as the number of bedrooms & bathrooms, location of the laundry room, presence of an HOA, the buyer’s source of financing and square footage. Click here to see the report in full detail.
We are hearing more and more about the coming 5G mobile phone service that’s supposed be the latest end-all-be all (isn’t that what they said about 4G???). The folks over at Digimorphing recently put together this handy infographic to help us understand all the advantages of this coming technological great leap forward. Yes, indeed……Happy Friday!! Hat tip to infographicjournal.com.
There has been a lot of discussion about inventory and the lack thereof in the housing market. Data has shown that nationwide there is a general lack starter-homes in the market. The folks over at howmuch.net recently crunched the numbers to compare the median home value versus the median value of a starter-home in each state. “Owning a home has long been a cornerstone of the American Dream. Before settling into a “dream home,” many first-time homebuyers look for a “starter home” instead. A starter home refers to a smaller, less expensive house that fulfills the buyer’s present needs, but…
