Author: Brad Beckett

This weekend marks the unofficial beginning of Summer and one that AAA projects will see 39.3 million Americans traveling 50 miles or more over the course of a long weekend – the highest travel volume since 2005…..Let’s also take a moment to remember that Memorial Day (observed on the last Monday of May) commemorates all who have died in military service for the United States of America.  Happy Friday!! Hat tip to AAA for the infographic!

The Chicago Tribune is reporting that home-sharing site HomeAway.com has filed a lawsuit in federal court seeking to overturn recent regulations affecting short-term rentals in the city of Chicago.  According to the report, Chicago imposed stricter rules last year on short-term rentals which affected sites such as Airbnb, VRBO and HomeAway.com.  The ordinance imposes additional taxes on these rentals as well as limiting the number of units in a particular property that can be rented. “The flaws in the ordinance make it impossible for a person of ordinary intelligence, or any reasonable person who might be subject to the ordinance,…

When you think of renting an apartment down, the first thing that might come to mind is generally how expensive they are.  While that point is still true, a new report from Zillow has found that, for the first time in four years, suburban rents are rising faster than urban ones.   Their data show that the median monthly cost of a suburban rental is up about 2.5% year-over-year, while the median cost of an urban rental is up 2.3%.  Interestingly, a year ago the median urban rental price was up 5% year-over-year, while median suburban rental prices were up 3%.…

The U.S. Federal Government announced that sales of new single-family houses in April 2017 were at a seasonally adjusted annual rate of 569k.  This number is 11.4%  below March’s revised rate and is .5% higher than April 2016.  The median sales price of new houses sold in April 2017 was $309,200. The average sales price was $368,300.  At the current sales rate there is an approximate supply of 5.7 months of homes on the market. Click here to read the full report.

In a recent Rental Property Owner Association podcast, Brian Hamrick interviewed Jordan Anderson about his successful flipping business, and a triplex he purchased recently with vacant commercial space.  Jordan also shares what happens when you don’t listen to your mentor, the contractor who took advantage of him, and the out-of-town investors who might be overpaying in the Philadelphia market.  They also discuss the mindset difference between flipping and multi-family, nurturing relationships with prospective sellers, and using private money. Click here to learn more about the Rental Property Owner Association.

ATTOM Data Solutions (parent compnay of RealtyTrac) recently released their April 2017 U.S. Foreclosure Market data report, which shows foreclosure filings (default notices, scheduled auctions and bank repossessions) were reported on 77,049 properties in the U.S.  This number is 7% lower than the previous month and 23% lower than one year ago, and is the lowest since November 2005. “Foreclosure activity continued to search for a new post-recession floor in April thanks in large part to the above-par performance of mortgages originated in the past seven years,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Meanwhile we are…

According to the latest Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one to four unit residential properties decreased to 4.71% of all loans outstanding at the end of the Q1 2017.  The delinquency rate was down nine basis points from the previous quarter, and was six basis points lower than one year ago.  The percentage of loans on which foreclosure actions were started during the first quarter was 0.30%, an increase of two basis points from the previous quarter, but five basis points lower than one year ago.  The delinquency rate includes loans…

The National Association of Realtors recently reported at their 2017 Legislative Meetings & Trade Expo that Q1 2017  was the best quarterly existing sales pace in exactly a decade (coming in at 5.62 million), and is on track to finish around 5.64 million – the best since 2006 (which was 6.47 million) and 3.5% above 2016. In addition, the national median existing-home price is expected to rise around 5%  this year.  They also predict that supply, affordability and modest economic growth are holding back sales, which threatens the homeownership rate. “The housing market has exceeded expectations ever since the election,…

A new “airbnb-like” service connects boat owners, captains, and renters on one easy to use platform where you can rent a yacht, houseboat, powerboat, sailboat as an overnight accommodation.  It’s called WavStay, and for  boat owners they say “it’s an easy and secure way to offset ownership costs all while enjoying your boat when you want to.”  Indeed….  The service is currently operating in Ohio & Florida with active listings in the cities of Cincinnati, Miami, Naples and Sarasota.  So, do they take the keys or can you take your “floating room” for a little spin? Click here to visit…

We’ve all seen the fixer-up TV shows with the 2-bedroom ranch on a slab, more than likely in California, going for nearly a half a million dollars.  Of course, it’s all relative to location and good price here isn’t always the same over there.  With that in mind, the folks over at GOBankingRates.com came up with a list of how much home you can buy in each U.S. state with $300k….And they show you where you get the “most” home and where you get the “least” home for those big bucks. For example, $300k only gets you 625 square feet…