Author: Brad Beckett

According to ATTOM Data’s August 2024 U.S. Foreclosure Market Report, there were a total of 30,227 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions)  – down 5.3% from one month ago and down 11% from a year ago.  Their data show that one in every 4,662 housing units nationally had a foreclosure filing in August. States with the highest foreclosure rates were were Nevada (one in every 2,473 housing units with a foreclosure filing); Florida (one in every 2,605 housing units); Illinois (one in every 2,837 housing units); South Carolina (one in every 2,877 housing units);…

According to Apartment List’s National Rent Report for August 2024, national median rent dropped 0.1% to $1,412.  They say this signals the end of the rental market’s annual busy season – as well as the second consecutive summer of modest rent growth. “This signals the end of the rental market’s annual busy season, as well as the second consecutive summer of modest rent growth, as the market remains sluggish thanks to a windfall of new supply. If historical trends hold, rents will continue to fall on a monthly basis for the remainder of the year.” Click here to read the…

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased year over year by 4.3% in July 2024 compared with July 2023.  On a month-over-month basis, home prices grew by 0.01% in July 2024 compared with one year ago. CoreLogic says this is the 150th consecutive month that the U.S. has seen year-over-year home price gains.  Indeed… “The question for home prices going forward is whether the upcoming rate cut from the Fed and the expected continuation of falling mortgage rates will be sufficient to motivate potential homebuyers who may start to fear…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in August, 2024 (same as July).  The all items index was up 2.5% for the 12 months ending in August.  The index for shelter rose 0.5% in August (the 7th consecutive month of increases) and was the main factor in the all items increase. Click here to read the full release at the Bureau of Labor Statistics.

Yes, believe it or not, the Autumnal Equinox will soon be upon us….that’s right, the first day of Fall is September 22nd.  That means it’s time to start thinking about lawn-care for the upcoming cooler months and prepping for a great lawn next Spring. Today’s infographic from The Home Depot lays out exactly what needs to be done to prepare your yard for the winter months ahead so it’s in tip-top shape for the Spring….and it starts “around” labor Day.   As always, stay safe and have a Happy Friday!!!!Hat tip to The Home Depot.

A recent story in the Wall Street Journal (reposted on Realtor.com) discusses the thorny issues of beach access along the Florida panhandle.  According to the WSJ, Walton County has 26 miles of coastline and looks like something from a postcard with soft, sugar-white sand and emerald green water.  However, those without private beaches can only get access to public stretches of sand at three state parks or through public access points, which are scattered throughout neighborhoods and between private properties.  In addition, they point out that beach rights didn’t used to be such a controversial issue in Walton County, where…

On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with George McCleary, an expert on squatters and how to prevent, detect, and eject them.  George discusses the squatting epidemic, as well as related crimes like deed fraud – hot-button issues that affect all homeowners and rental property owners nationwide. “You may have seen his viral video “I Stole a House” which details how squatters exploit the system for illicit financial gain. It got tens of millions of views across all platforms, and led him to be a guest on Dr. Phil and…

According to recent data from the NAHB’s Eye on Housing, there are 6.5 million second homes in America, representing 4.6% of the total housing stock.  The state with the largest number of second homes was Florida with 1 million homes (15.3% of all 2nd homes).  Interestingly, half of the country’s second homes are found in just seven states – Florida, California, New York, Texas, Michigan, North Carolina, Arizona, and Pennsylvania. U.S. counties where at least half of their housing stock is second homes were widely spread over in 14 states – four in Wisconsin, four in Colorado, two in Michigan,…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,731 in August, 2024.  Year-over-year growth was 0.7%.  Yardi says multifamily performance held steady in August as the market eagerly anticipates interest rate cuts in September. “Multifamily advertised rents were essentially flat in August as the market prepared to adjust to evolving economic conditions, which include potentially lower interest rates and slower growth. While likely to be incremental rather than drastic, change is nontheless brewing.” Click here to read the full report at Yardi.

According to the ADP National Employment Report for August, 2024, the labor market continued to cool in August, with private employers adding 99k jobs. The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees. “The job market’s downward drift brought us to slower-than-normal hiring after two years of outsized growth. The next indicator to watch is wage growth, which is stabilizing after a dramatic post-pandemic slowdown.”  Said ADP chief economist Nela Richardson. Click here to read the full report…