After failing to secure more funding, real estate crowdfunding platform RealtyShares will soon be laying off staff and, as reported by The Real Deal, faces an uncertain future. According to the report, RealtyShares’ last-ditch efforts to find a buyer for the company were unsuccessful and they will ensure that customers who invested in real estate projects through its platform will get their money back. The company was founded in 2013 and raised over $870 million that was invested over 1,160 projects. “Over the past six months, RealtyShares aggressively pursued a number of financing options to continue growing the business,” RealtyShares…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Realtor.com says there are actually neighborhoods in the country’s biggest cities where home buyers have the upper hand. They identified the top 10 places where prices are affordable, there are plenty of homes for sale, a relatively low crime rate, and a reasonable work commute. To get this list, they analyzed zip codes in the nation’s 10 largest cities. Then they looked at items such as median price, days on market, and the share of homes for sale. To keep things enticing, they eliminated neighborhoods where commuting takes more than an hour (in rush hour) and they took out places with…
In 1918, on the 11th day, of the 11th month, at the 11th hour, the guns fell silent. This year’s Veterans Day (11/11/18) marks the 100th anniversary of the end of the First World War. National REIA salutes all of those who have had the honor & privilege of wearing this country’s uniform (over 18 million men and women). Here is a little history about this important day; In 1918, the armistice of the First World War officially took effect on the 11th day, of the 11th month, at the 11th hour. The following year President Woodrow Wilson declared November…
According to the latest ATTOM Data Solutions U.S. Home Sales Report, single family homes & condos sold for a median price of $256k in Q3, up 1% from the previous quarter and up 4.8% from one year ago. They note, however that this is the slowest pace of annual home price appreciation since early 2016 and blame it partly on overall home affordability. Interestingly, the report noted that homeowners who sold in Q3 2018 owned their homes a record average of 8.23 years, up from an average of 7.97 years in Q2 2018 and up from 7.98 years in Q3…
A closely watched ballot initiative in California was defeated in November’s election. Proposition 10 would have allowed cities to expand rent control by allowing local governments to set rent control policies for their cities, contrary to current law – which was upheld by the failure of Proposition 10. According to the SF Chronicle, the measure was placed on the ballot by tenant advocates who had failed for years to persuade the CA state legislature to curb rising rent. Indeed….How restricting supply and hamstringing landlords would lower rent prices is beyond our comprehension abilities. Then again this is California, and sometimes…
Get ’em while they’re hot…The good folks over at Realtor.com, like everyone else, have been watching shrinking inventory drive up home prices all across the country. To that they, they crunched the numbers and took a “deep dive” into their listings to find those housing markets where home prices are growing at the fastest clip. To come up with their list, they analyzed the increase in median list prices on realtor.com from 9/17 to 9/18 in the largest 300 metros. Then they ranked the places that saw the biggest percentage change in home prices during that span and limited it…
Rental information site Zumper recently released their National Rent Report for November showing that the median national rent for 1-bedroom apartment was $1,203 and the median two-bedroom rent was $1,432. Year over year, both one and two bedroom prices are up 2.3% and 2.9%, respectively. 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…
The U.S. government is reporting that total construction spending in September was estimated at $1,329.5 billion, which is nearly identical to August’s revised estimate and 7.2% higher than September, 2017. Residential construction was at a seasonally adjusted annual rate of $556.4 billion in September, 0.6% above August’s revised estimate. a
National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in November dropped slightly to $1,019 (down 0.8%) with two-bedroom units coming in again at $1,266 (down .24%). 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. Click here to read the full report on Abodo.com.
According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, home prices continued their ascent, with a 5.8% annual gain in August. Their 10-City Composite annual increase came in at 5.1% and their 20-City Composite posted a 5.5% year-over-year increase. The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. Click here to read the full report at S&P Dow Jones Indices.
