Author: Brad Beckett

Local Market Monitor, a National REIA preferred vendor, recently released their National Economic Outlook for July, 2018 where they share their thoughts on developments taking place in the U.S. economy.  Interestingly, they report that “…the new manufacturing jobs have a special impact on real estate markets because they provide fairly high pay….[AND]…..Real estate investors might want to assemble a list of such markets and keep track of new plant announcements..” National Economic Outlook – July 2018 July 24, 2018 By: Ingo Winzer Manufacturing is no longer the engine of the US economy, like it was 50 years ago, but it’s had…

The National Association of Realtors is reporting that overall pending home sales in June increased in all four major regions but overall year-over-year activity lagged for the 6th straight month.  The NAR’s Pending Home Sales Index rose 0.9% to 106.9 in June, up from May.  However, the NAR says demand is still exceeding supply.  A sale is listed as pending when the contract has been signed but the transaction hasn’t closed, though the sale usually is finalized within one or two months of signing. “Home price growth remains swift and listings are still going under contract at a robust pace…

The U.S. government is reporting that sales of new single-family houses in June, 2018, were at a seasonally adjusted annual rate of 631k, which is 5.3% lower than May’s revised rate but is 2.4% higher than June, 2017.  The median sales price of new houses sold in June 2018 was $302,100 and the average sales price was $363,300.  There were an estimated 301k new houses for sale at the end of June representing a 5.7 months supply at the current sales rate. Click here to read the full release on census.gov.

A recent article on Curbed.com discusses how online platforms such as Roofstock and OwnAmerica have made it much easier for investors to purchase Single Family Residences (SFRs).  In particular they cite Roofstock as one of many SFR investment platforms that have popped up since the housing crisis.  Curbed says these new platforms make it easy & convenient as well as allowing investors to buy and own rental homes in multiple parts of the country at the same time.  However, they do point out that while institutional SFR companies own around 250k SFRs most SFR landlords are “mom and pop” investors…

Buying a good rental property has the potential for some incredible passive income opportunities.  However, in order to be successful you have to do your due diligence and make sure you do it the right way.  Our friends over at FortuneBuilders put together the following infographic that will not only prepare you with what you need to know before buying a rental property, it also outlines the steps of buying a rental property, and provides some questions to ask when making the purchase. Their 10 steps to success are: Evaluate your personal and financial goals. Ask yourself if you’re ready…

What are the best- and worst-run cities in America?  That might vary upon who you’re talking to and what their most recent experience was with the local building department.  However, WalletHub recently compared the operating efficiency of 150 of the largest cities in America to find which among them are managed the best.  To get their list, they looked at 35 metrics that were grouped into six service categories, which were then measured against the city’s per-capita budget.  Their list is pretty interesting and when you look at the chart it is a little surprising – especially when a city…

We’ve seen several “Airbnb-like” start-ups in the last few years but none like this one.  Recently we came across a pretty cool short-term rental platform that is geared for hunters & fishermen called Private Acre.  Basically, they facilitate the renting of private land for outdoor pursuits.  Land owners can connect their property to a community of outdoor enthusiasts that will pay to use it, based on the owner’s terms.  In addition, it’s all covered under Private Acre’s $1 million liability insurance. “With PrivateAcre, you no longer need to know someone who owns land. Now you have access to your own…

Swimming pools can be the envy of the neighborhood or a dangerous eyesore that needs to be removed.  But if you have one, or your property does, what does it take to keep them clean?  A recent article in Realtor.com discussed the ins and outs of what happens if you don’t keep that pool clean.  The again, do you really want to know what’s in that pool water? Ever heard of Cryptosporidium??? Yikes! “When it comes to keeping a pool clean, “what you’re fighting is biological activity—human beings that go into the pool,” Carroll explains. “You might not, but the rest…

How does the concentration of homeowners versus renters break down in your city?  Or how about an area where you’re looking to invest?  We came across this very interesting mapping site by Ryan McCullough that presents every single person in the United States as a purple or blue dot.   The data was taken from the 2010 Census and is accurate at the block level, however within each census block the location has been randomized. Dots have been colored purple or blue based on the percentage of home owners versus renters on a block, showing larger geographical structures of home ownership. …

A recent Redfin survey of 2k U.S. residents (who plan to sell/buy a home in the next 12 months) revealed that 36% of millennial buyers took a 2nd job to save for their down payment.  Their report zeroed-in over more 500 respondents between 24 and 38 who said they planned to buy their first home in the coming year.  The top concern among first-time millennial homebuyers was having enough money for a down payment (50%),  followed by affording a home in their preferred location (45%) and rising home prices (41%). “For millennials who have launched their careers while working to…