Author: Brad Beckett

Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy.  Notably, they predict that the population of renters will increase because fewer people will have the financial confidence to buy a home. National Economic Outlook – March 2020 By Ingo Winzer March 12, 2020 – Although I’ll quote the latest data on jobs (from February) events have already overtaken the statistics. The spread of the corona virus threatens to have a dramatic effect on the US economy. And not just in the…

Spring will soon be here! (the first day is March 19th) That means now is a great time to start thinking about your property’s landscaping – whether it’s a rental house or a flip you’re about to spruce up, a nice lawn will certainly add value and improve curb appeal!  The folks over at The Home Depot put together this handy infographic with their Spring fertilization tips…..Happy Friday!!! *** Did you know that members of National REIA receive a 2% biannual rebate, 20% off interior & exterior paints & primers, volume pricing, access to an exclusive appliance & cabinet program…

Most landlords require their tenants to have renters insurance. It is an invaluable financial product that ends up protecting the property owner as well as the tenant in the event of a catastrophe.  For the most part, compared to homeowners insurance, renters insurance is relatively inexpensive.  However, as the folks over at howmuch.net point out, the rates can drastically vary across in different parts of the country.  Nor surprisingly, the states with the highest renters insurance costs saw the lowest percentage of insured renters.  Even though they point out that the likelihood of natural disaster seems to drive its adoption…

A new report from Redfin finds that telecommuting increases 25% after a move.  In other words, they found that people are relocating to more affordable cities because they are able to do more of their work remotely.  In addition, their data also found that the most common reason for moving was affordable housing followed by proximity to family.  Indeed…. “The job market is very tight and employers want to hold on to people, so companies are much more willing now to allow workers to move,” said Redfin chief economist Daryl Fairweather. “Plus, technology has enabled employers to let staff work…

We saw last month that during the final quarter of 2019 the homeownership rate increased to 65.1%, the highest level in 7 years.  A recent “chart of the week” from the Mortgage Bankers Association took a deeper dive into the numbers to breakout the homeownership rate by age.  They find that older homeowners are staying put longer than previous generations.  Indeed…. “Households headed by a person 65 years old or greater (green line) had the highest proportion of homeowners in last year’s fourth quarter (by age group) at 79%. If we drill down within the 65+ age group, the homeownership…

With record tight inventories all over across the country Realtor.com reminds us that few markets are immune.  However, they did take a look at a look at the numbers across the board and pinpointed the places they say are “easiest” to buy a home as well as those locations where it is pretty hard.   Their analysis looked at the number of listings per 1,000 homeowner-occupied households in the 100 largest metros in the Q4, 2019.  Indeed… “Inventory is falling—even in the easiest markets to buy a home,” says realtor.com Chief Economist Danielle Hale. “For buyers, it means there are fewer…

According to a recent report from the Federal Reserve Bank of New York’s Center for Microeconomic Data, total household debt increased by $193 billion (1.4%) to $14.15 trillion in the fourth quarter of 2019 – marking 22 consecutive quarters of increases.  Interestingly,the proportion of credit-card debt that was in serious delinquency increased 5.32% – the highest in 8 years.  As for mortgages (the largest component at $9.56 trillion), the total share of the balance increased by $120 billion.  Indeed…. “Mortgage originations, including refinances, increased significantly in the final quarter of 2019, with auto loan originations also remaining at the brisk…

According to ATTOM Data’s year-end 2019 U.S. Home Flipping Report, over 245k single family homes & condos were flipped in 2019, up 2% from 2018 – the highest point since 2006.  In addition, they report that while flipping itself was at an 8-year high, the profit margins continued dropping to an 8-year low themselves at $62,900.  Indeed…. “Home-flipping profits across the U.S. dropped again in 2019 as the business of buying and selling houses absorbed its worst year since the housing market was mired in the fallout from the Great Recession. This happened as the cost of buying properties continued…

The folks at Baptist Health of South Florida remind us that good health is in our hands.  They say that washing your hands properly and frequently is the best way of protecting you and others from infections.  Indeed….and with that pretty nasty virus lurking about (not to mention cold & flu season), you’ll want to be sure you not only cover your mouth when you cough or sneeze, BUT wash your hands!  (and sing whatever song you want) Thank you….and Happy Friday!!! “Keep in mind that viruses and bacteria can live for several hours on hard surfaces such as cafeteria…

Rental information site Zumper recently released their National Rent Report for March, 2020 showing that the median national rent for 1-bedroom apartment was $1,219 (down 0.1%) and the median two-bedroom rent was $1,463 (down 0.1%).   Year to date, one-bedroom prices are up 0.2% and two-bedroom prices are up 0.9%.  Zumper analyzes rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on all…