Author: Brad Beckett

We’ve all heard about living in the “right” zip code.  In fact, before the proliferation of phone numbers (thanks to mobile phones) we used to even think about area codes.  Recently, the folks over at RENTcafe.com crunched the numbers and came up with the most expensive zip codes in the U.S.  To come up with their numbers, they used data from Yardi to get the average apartment rent in every state and zip code in 125 major U.S. markets.  The most expensive zip code?  None other than New York City’s 10282 (Battery Park City) with an average rent of nearly…

Black Knight Financial Services recently released their March, 2017 Home Price Index (HPI) reporting that U.S. home prices were up 5.8% year over year in March and up 1.3% for the month.  The HPI value for March was $272k – a new peak!  In addition, home prices in eight of the nation’s 20 largest states reached new peaks;  Indiana, Massachusetts, New York, North Carolina, Pennsylvania, Tennessee, Texas and Washington.  The Black Knight HPI utilizes repeat sales data from the nation’s largest public records data set, as well as its market-leading, loan-level mortgage performance data, to produce one of the most…

A new survey from moving giant Mayflower says that 2 in 5 millennials (those aged 18-35) have moved to a new city without any intention of permanently staying, calling them “vacation movers.”  Their study suggests that while they might flock to cool places (think Seattle, Portland, San Francisco, etc.) they don’t stick around and plant roots.  Interestingly, the 2017 Mayflower Mover Insights Study also said that over half (53%) of millennials say they’re likely to make a temporary, or “vacation,” move within the next five years and that 3/4 of them had a timeline in mind.  Sounds like they’ll make…

What are the best cities for young professionals?  That’s the question Forbes attempted to answer in their annual list where they rank each of America’s 100 largest metropolitan statistical areas in using criteria such as;  salary, rent, employment, networking and social outlook. The top 10 cities are: Salt Lake City, UT Boise City, ID San Francisco-Redwood City-South San Francisco, CA Phoenix-Mesa-Scottsdale, AZ Denver-Aurora-Lakewood, CO Raleigh, NC Indianapolis-Carmel-Anderson, IN Columbus, OH San Jose-Sunnyvale-Santa Clara, CA Warren-Troy-Farmington Hills, MI Click here to read the full story on Forbes.com

We’ve read a lot about the millennial generation lately.  Whether they’re moving around the country, living in their parents basement, or putting off buying a home…they’re hard to pin down.  A recent survey my TD Ameritrade (as reported in USAToday) says that 26% of Millennials currently in college say they plan to move back home after they earn their degree to help save and pay off their student loans.  In fact. when it comes to paying off that school-debt, only 40% expect to have it paid off before they’re 40. “Today’s college grads are clearly under financial strain due to escalating…

5 Reasons that all Landlords Need to Join a Support Association by Christian Bryant With laws changing every year, Landlords can’t afford to manage their rentals without support It seems like every month there is a new story about a rental property law changing, a landlord being sued by a tenant, or a landlord being issued a six figure fine. The relationship between a landlord and a tenant seems to be one of the most litigious business relationships that exists. Even if you only own and manage 1-2 units it can seem like a full-time job just keeping up on…

What are the best and worst markets for real estate investors?  Well, HomeUnion recently took a stab at that question and using their data and proprietary analytics came up with of list of cities they believe fits the bill.  At the top of the “best” list we find Cleveland, Ohio with a cap rate of 11.5%…and, you can almost guess it, San Francisco is identified as the worst place for investors with a cap rate of 2.8%. “For the past two years, we have been tracking the investment and owner-occupied housing markets,” explains Steve Hovland, director of research for HomeUnion.…

The NAHB’s Eye on Housing is reporting that the size of new single-family homes continued their trend of decreasing in size as 2017 got underway.  According to the report, the median single-family square floor area was 2,389 square feet, and the average (mean) square footage for new single-family homes was 2,628 square feet.  The report indicates new multifamily apartment size is down as well. Click here to read the full story on the NAHB’s Eye on Housing.

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,…