Author: Brad Beckett

The National Association predicts that existing home sales will reach 5.52 million, the average price of a home will be $243k and 2017 will end with mortgage rates hovering around 4.6%.  However they caution: According to Lawrence Yun, NAR chief economist, the swift rise in mortgage rates poses a threat to a faster pace of sales next year. With inventory tight and prices already rising far above incomes in some areas, the unwelcoming sign of higher borrowing costs only adds to the difficult barrier of entry for many prospective buyers. As a result, many are feeling less confident about buying.…

13 Things Baby Boomer Renters Want and Landlords Need to Know By Larry Arth As a real estate investor and landlord myself I understand that tenants are the pillars of our business. Working with hundreds of investors, I carry a high level of interest in these tenants who represent our customer base. I trust that you, as a diligent investor and landlord, do as well. With the importance of knowing exactly who your customers are, I have done research like the post, Why Millennials are important to landlords and the five things you need to know. There is another group…

What are the most popular ROI-upgrades across the nation?  Recently real estate resource site Trulia sifted through home listings from over 100 metros to find the most popular features in each US state.  The big winner? Decks – followed by hardwood floors and granite.  Interestingly, Trulia says decks bring 80% to 120% ROI when it’s time to sell that property….Happy Friday! Click here to read the full story on Trulia.com.

A savvy & unnamed New York real estate investor has snapped up the boyhood home of President-Elect Donald Trump and plans to auction in January right before Trump’s inauguration.  Realtor.com reports that the house was originally for sale back in the Fall at $1.25 million but since Trump’s election it could fetch 10x that amount.  The 5-bedroom home was built in the 1940’s by Mr. Trump’s father and is the address listed “the Donald’s” birth certificate.   Paramont Realty USA has set the bidding deadline for 4pm, January 17th…so act fast if you’re interested. Childhood Home of President Elect Donald J.…

The National Association of Realtors are reporting that total existing sales home sales in November rose 0.7% to a seasonally adjusted annual rate of 5.61 million.   November’s sales pace is 15.4% higher than a year ago and the highest since February 2007.  November’s median existing-home price for all housing types was $234,900, up 6.8% from one year ago – marking the 57th consecutive month of year-over-year gains.  Total housing inventory was down 8.0% to 1.85 million existing homes available for sale (9.3% lower than a year ago).  And, at the current sales pace there is a 4 month supply of…

Here’s an interesting item;  With rising home prices in many metros across the country, a trend is developing where foreclosed homes are fetching far more than was originally owed by the former owner, thereby producing a surplus at the home’s auction (after all debts/liens have been resolved).  This surplus, if any, is supposed to be returned to the original mortgage holder.  Realtor.com is reporting that up to 80% of foreclosure auctions in Denver County, Colorado end up with surpluses after being sold at auction – resulting in nearly $1.5 million in uncollected surpluses from about 50 foreclosed homes. “The steady rise…

The RPOA Real Estate Investor Podcast recently discussed “How to Double and Triple your Rental Income with Vacation Rentals & Airbnb” with Sue Hoyuela, a nationally recognized expert on vacation rentals. “Technology and the Internet have created many new ways for real estate investors to increase their income.  Some savvy owners are foregoing tenants all together and turning their rental properties into Vacation Rentals that allow them to double or triple their profits.” Click here to listen on RPOA.org.

Data powerhouse CoreLogic recently launched a new quarterly report featuring their Housing Credit Index (HCI) that measures variations in home mortgage credit risk attributes over time – including borrower credit score, debt-to-income ratio (DTI) and loan-to-value ratio (LTV).  According to their methodology, a rising HCI indicates that new single-family loans have more credit risk than during the prior period.  A declining HCI means that new originations have less credit risk.  Loans originating in Q3 2016 continued to exhibit low credit risk versus the previous quarter and Q3 2015. CoreLogic says, in terms of credit risk, Q3 2016 loans were among…

The predictions for 2017 keep rolling in and we’re starting to see some common trends.  This past week Zillow released their housing predictions for 2017 which they say ” include a change in course for the housing market as it continues to reflect the nation’s economic recovery.”   So, will millennials finally be moving out of Mom & Dad’s basement? They predict: Cities will get cozier Millennials will move out of the nest New construction buyers will pony up Commuters will get comfortable Current homeowners will continue to prosper Click here to read the full story on Zillow.com.

Recently, the members of the American City County Exchange, a division of the American Legislative Exchange Council, representing city and county elected officials in 50 states, sent a letter to President-Elect Trump outlining their concerns about several items affecting local governments and what reforms are needed. Dear President-Elect Trump: The members of the American City County Exchange, a division of the American Legislative Exchange Council, representing city and county elected officials in 50 states, petition you with great urgency. We have been encouraged to hear about your desire to rebuild infrastructure, shrink the regulatory size of the federal government and…