Author: Brad Beckett

Local Market Monitor (a National REIA preferred vendor) recently released their National Economic Outlook for October, 2017 where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook – October 2017 October 17, 2017 By: Ingo Winzer The job data for September show some of the effects of the recent hurricanes. Overall, job growth slowed to a 1.2 percent annual rate – down from the 1.5 percent of previous months. The drop was mainly due to a loss of jobs in retail and at restaurants, as you would expect in storm-ravaged areas. But the big…

Will eliminating rent-controlled units actually reduce crime?  Realtor.com is reporting that a new working paper from researchers at the Massachusetts Institute of Technology show this to be the case.  According to the study, after rent control was ended in Cambridge, MA, in 1995 the city saw a 16% reduction overall crime.  That percentage correlated to around 1,200 fewer crimes per year.  Not too shabby. “A drop in the number of property crimes (including burglary and shoplifting) and public disturbances (including vandalism, prostitution and trespassing) was largely responsible for the reduction in crime overall in Cambridge during that time. Researchers also…

The National League of Cities recently released their Local Economic Conditions report for 2017 that gauges the performance of key local economic indicators from the unique vantage point of those who are held most accountable for prosperity and equity in cities: their chief elected officials.  Results are based on responses from 224 cities across population sizes and locations within and outside metropolitan areas. “According to our sample of 224 cities, the vast majority of cities across the nation—84 percent—report that their local economies have improved over the past year. Few have witnessed significant economic decline, while 12 percent report stable…

On a recent episode of their BRAG (Be Rich And Generous) podcast, Larry Goins and Kandas Broome take questions and discuss the fears & even the “naysayers” that might keep you from getting started in real estate investing.  Larry says that “fear is false evidence appearing real” and emphasizes knowledge as the key ingredient to successful investing.  Their weekly podcasts are lively, entertaining and informative….and never dull. Click here to listen to the podcast on Brag radio.

CNBC is reporting that Wall Street giant Goldman Sachs is getting into the house flipping market with its recent acquisition of Genesis Capital –  one of the largest private-money lenders in the U.S. focusing on “highly qualified and experienced real estate developers who buy, renovate, and sell single family residential real estate and/or multi-family apartment buildings.”  Indeed… “The deal, for undisclosed terms, gives Goldman a business that makes loans of $100,000 to $10 million at rates of 7 percent to 12 percent. It won’t lend to occupants, so that leaves real estate professionals who are renovating and looking to sell…

Let’s face it, we love our cars in this country, hands down.  But as you may know, some cities are just better for car lovers and some places just can’t cut it.   With that in mind, the folks over at Realtor.com came up with a list of the top U.S. 10 cities for car lovers where they looked at over 100 housing markets using the following criteria;  percentage of listings with a garage, average number of vehicles per household, car ownership rate,traffic fatalities, road condition, gas prices, insurance rates, and several other factors.  Colorado Springs tops the list with its…

Fall is finally here and it’s time to start thinking about lawn-care preparation for the upcoming colder months.  The following infographic from The Home Depot lays out why Fall is the perfect time for this and what you need to do.  Remember, Spring is just around the corner (of course we have to get through Winter first)!  Happy Friday!! Hat tip to the Home Depot.

A developer in North Carolina is running into neighborhood opposition over his plans to build a tiny house community in Northwest Charlotte.  According to the Charlotte Observer, the developer, Kelvin Young, says his community will create an affordable place for first-time home buyers or for people downsizing from their current homes.  However, neighbors say the potential development is threatening their property values and they’re urging City Council to put a stop to it.   There are 56 tiny homes planned for the new community, each selling for around $89k. Click here to read the full story at the Charlotte Observer.

We have shared some pretty bizarre stories over the past couple years here on REI2Day.  You might recall the one about the contractors who gutted the wrong house , the seller who wouldn’t move out after the closing or maybe even the one about the house that was built on the wrong lot.  Now we’ve come across one from Florida about a HVAC worker who was doing some renovations on an empty house when he discovered (while trying to discover where some duct-work led) a secret man cave in the attic – complete with carpet, electrical outlets, cable-tv jack and…

According to a new report from NYU’s Furman Center, renters who spend more than 30% of their incomes for rent has fallen over the past three years to 47.7%.   In addition, report that median rents grew faster than inflation in almost all metro areas between 2012-2105.  The report analyzes data from the American Community Survey, looking at trends in rental housing & renters from 2006-2015 in all U.S. metro areas with populations greater than 1 million.  These 53 metro areas contained 165 million people (65 million households) and represents 63% of the U.S. population and 60 percent of its housing…