Author: Brad Beckett

According to recent data from Redfin, U.S. home-sale prices increased 3.3% in November compared to one year ago, coming in at a median price of $298,800.  November marked the third straight month of annual home price gains under 4% after a 77-month-long streak of annual home price gains exceeding 4%.   In addition, the number of completed home sales fell faster than it has in over two years, down 8.3% from November 2017.  Home sales declined in 65 of the 74 largest metro areas that Redfin tracks. “The tide has turned,” said Redfin chief economist Daryl Fairweather. “Sellers are now competing…

You’re going to be hearing a whole lot about Opportunity Zones in the near future – if you’re not already talking about them.  They are, perhaps, one of the greatest opportunities for investors of all stripes in quite some time.  An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, that were created by Tax Cuts and Jobs Act on December 22, 2017.  They are an economic development tool designed to spur economic development and job creation in distressed communities. To that end, the IRS recently put out a FAQ…

Ok…as a regular reader you know that we’ve posted a whole lot about millennials, but guess who’s coming up on their heels?  Generation Z – and they approach finances way differently than their older siblings.  Are you ready for them???  Today’s infographic from Rave Reviews shows how Generation Z is perhaps taking a more pragmatic approach to their finances. Here we go…..  Happy Friday!!! Hat tip to RaveReviews.com

Over the past few years we’ve had several stories about HELOC loans (home equity lines of credit) and their potential expiration creating havoc in the housing market among current homeowners.  However, as Keeping Current Matters points out, as we’ve experienced strong price appreciation over the last last 6 years they show that homeowners are being much more responsible with their home equity this time around.  After all, according to data, over 48% of all single-family homes in the country have over 50% equity.  What a difference indeed. “When real estate values began to surge last decade, people started using their homes…

The U.S. Department of Housing and Urban Development recently announced that HUD Secretary Ben Carson will be chairing a new council, composed of 13 federal agencies, that will engage with all levels of government on ways to better use taxpayer dollars to revitalize low-income communities.  It will work to improve revitalization efforts by streamlining, coordinating, and targeting existing Federal programs to economically distressed areas, including Opportunity Zones.  The committee, known as the White House Opportunity and Revitalization Council was formed via an Executive Order from President Donald J. Trump. Charles Tassell, Chief Operating Officer of National REIA, said “In an…

It’s that time of year when real estate prognosticators dust off their crystal balls and make prediction about the coming year.  Zillow is weighing-in with their own list where they say rising mortgage rates will set the scene and will affect everyone, driving up costs for home buyers and creating more demand for rentals.  Indeed… Here are the 6 major items Zillow sees happening in 2019: Mortgage affordability takes a hit Rents reverse course Commutes get worse Amazon HQ2 ‘losers’ see a boost Natural disasters claim a record number of homes Home value growth slows Click here to read the…

In a recent RPOA podcast, Brian Hamrick talks with Frederick Kidd about nuts & bolts techniques involved in successful short-term rental investing – especially when some owners are getting 3 to 4 times what they would be making from a long-term rental. But, as Brian points out, for every investor who’s making a killing with their short-term rental, there’s another investor who either hasn’t gotten started or is losing money because they’re doing it wrong.  Frederick Kidd shares his best practices for managing short-term rentals remotely, finding the right team members, understanding the expenses, getting the 5-star ratings from guests,…

Government-back giants Freddie Mac and Fannie Mae have announced they will suspend eviction lockouts over the holiday season.  As reported by Mortgage News Daily, the GSEs (Government-Sponsored Enterprises) will start their eviction moratorium (applying to single-family through 4-unit properties) from December 17 through January 2, 2019. “We believe it is important to extend the timeline of help for struggling borrowers during the holidays,” said Jacob Williamson, Vice President of Single-Family Real Estate at Fannie Mae. Click here to read the full story at Mortgage News Daily.

Earlier this month a group of tenants and landlords in Seattle, Washington teamed up with the Institute for Justice to file a class action lawsuit against the city for its use of invasive, warrantless searches to inspect rental units. According to a recent article in the Rental Housing Journal, the lawsuit doesn’t seek to stop the city from inspecting rental units (where the tenants agree to the inspection) or keep the city from addressing problem properties. It does, however, want the city to stop entering  private homes of Seattle’s renters without consent or a legally obtained warrant that is based…

The U.S. Department of Housing and Urban Development (HUD) recently awarded over $23 million to nearly 80 fair housing organizations working to protect consumers from housing discrimination through their Private Enforcement Initiative (PEI).  These grants will be used by fair housing organizations across the country so they can carry out testing and enforcement activities.  Be sure to look at the list of recipients in your city and state. “It’s been 50 years since the passage of the Fair Housing Act, yet the fight against housing discrimination continues,” said Secretary Ben Carson. “Today we are making another investment to support our…