Author: Brad Beckett

According to their 2017 Q4 U.S. Home Flipping Report, ATTOM Data Solutions says that in 2017, 207,088 single family homes & condos were flipped representing their highest level since 2006.  The 207,088 homes that were flipped in 2017 represented 5.9% of all single family home & condo sales in 2017, up from 5.7% of all sales in 2016 and represents the highest level since 2013. “The surge in home flipping in the last three years is built on a more fundamentally sound foundation than the flipping frenzy that we witnessed a little more than a decade ago,” said Daren Blomquist,…

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedrooms dropped slightly to $1,038.  ABODO uses over 1 million listings across the United States to calculate the median 1-bedroom rent price by city, state, and nation and then track the month-over-month percentage change. To avoid small sample sizes, they restrict their analysis to cities meeting minimum population and property count thresholds. Looking back to 2017 rent trends, one-bedroom rents followed the same downward slope in the first three months of the year, before picking up in April as temperatures — and the market — heat…

Spring is just around the corner (March 20th) which means now is a great time to start thinking about your property’s landscaping – whether it’s a rental or that flip you’re about to finish up, a nice lawn certainly adds value.  The folks over at The Home Depot put together this handy infographic with their Spring fertilization tips…..Happy Friday! Hat tip to the Home Depot!

We’ve  had several posts about where people are moving across this great country of ours.  However, a recent poll conducted by the National Association of Home Builders asked people living in their homes for 10 + years why they have chosen to stay put for so long and not move.  The most important reason cited?  A lack of desire to go through with the hassle & expense of moving.  The most interesting?  Those 10% that said they could be enticed if there were more homes to choose from…….ok, better get flipping. “…the most important reason long-term residents aren’t moving is…

Housing data provider HouseCanary recently looked at all 318 MSAs in the U.S. for affordability, price growth, and market pace in order to provide a snapshot of where the market is slowing down and gaining speed. Their goal was to ultimately answer the question; is 2018 a good time to buy a home, sell a home, move up, or invest in real estate — or will you be better off parking your money elsewhere, whether that means buying a house in a different location or an investment in an entirely different industry? While we are still seeing a positive trend…

Redfin says that 35% of homebuyers, in a recently conducted survey, indicated that they made an offer on home before ever physically seeing the property.  In addition, millennial homebuyers were even more likely to make an offer sight-unseen, coming in at over 40%.  Redfin says these results likely reflect millennials’ comfort relying on information they find online about homes for sale, neighborhoods they might not have visited in person and the home-buying process in general.  Their survey targeted nearly 5k homebuyers in 14 major U.S. metro areas. Click here to read the full report on Redfin.com.

Rental information site Zumper recently released their National Rent Report for March showing that the median national rent for 1-bedroom apartment was $1,300 (11.6% higher than one year ago.) and $1,398 for a two-bedroom.  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 data available in the month prior to publication…..be sure to look at their entire list…

The U.S. Census Bureau is reporting that total construction spending in January was estimated at a seasonally adjusted annual rate of $1.2 trillion, nearly the same as December’s revised estimate.  However, January’s number is 3.2% higher than January 2017.  Private residential construction came in at a $523.2 billion in January, 0.3% higher than December and private nonresidential construction was $439.6 billion, 1.5% lower than December.  Total public construction spending was $300.1 billion, 1.8% higher than December. Click here to read the full release on Census.gov.

The National Association of Realtors reported that pending home sales “cooled considerably” in January and were down 4.7%.  In addition, available listings at the end of January were at an all-time low as well as being 9.5% below January 2017. “The economy is in great shape, most local job markets are very strong and incomes are slowly rising, but there’s little doubt last month’s retreat in contract signings occurred because of woefully low supply levels and the sudden increase in mortgage rates,” said Lawrence Yun, Chief Economist for the NAR. Click here to read the full release at the National…

Smart phones….they’ve become one of our tools of the trade and an indispensable appendage of our daily lives.  How could we ever live without them, you might ask?  Have you ever left the house without your phone and had that “kicked in the gut” feeling?  What about good etiquette?  The folks over at statista have posed the question, by asking is it “Time for Digital Detox?”  You be the judge, but their data is certainly interesting and I’m sure we all have some of these habits……Happy Friday! Ever since the first iPhone arrived in 2007, smartphones have gradually taken over…