Author: Brad Beckett

Energy costs are something all of us area aware of – whether you’re in South during the summer months or up north during the winter, you’re paying attention to the bills.  The folks over at howmuch.net recently put together this handy chart showing the average energy bills in each state and their sources of energy.  Interestingly, they conclude that the highest average electricity bill by state is nearly double the least expensive, which they say is because of the source used to generate electricity.  Looks like Coal might be king. Most Expensive States and Electricity Source: Alabama – Average Monthly…

The U.S. Government is reporting that privately owned housing starts in July were at a seasonally adjusted annual rate of 1,155,000.  This is 4.8% below the revised June’s estimate and is 5.6% below July 2016.  Single-family housing starts in July were at a rate of 856k and the rate for units in buildings with five units or more was 287k.  Privately-owned housing units authorized by building permits were at an annual rate of 1,223,000. This figure is 4.1% below June’s revised rate, but is 4.1% above the July 2016. Single-family authorizations in July were at a rate of 811k. Authorizations…

When it comes to pests, termites rank right up there with bed bugs when it comes to being a nuisance.  The folks over at Rentokil put together this fascinating infographic about termites, how they reproduce, their cost to the economy and ways to you can protect your property.  Who knew termites have been around over 50 million years and that there are approximately 3,000 different types of species?  Happy Friday!!! Hat tip to jcehrlich.com.

It seems like trying to figure out the millennial generation’s next move is akin to hitting a moving target – we just can pin them down.  Now we find that as millennials age, the oldest of the cohort have finally discovered the suburbs.  In a recent post over on John Burns Real Estate Consulting we learn that the same people who drove urban demand from 2005–2015 are projected to “drive demand for surban housing in inner-ring suburbs, especially those in mature and slower-growing cities.”  The article cites some of the reasons give as better schools, bigger yards (dogs & kids),…

A pair of real estate investors in San Francisco may have hit a proverbial goldmine when they spotted an exclusive private neighborhood’s entire street, sidewalks and common areas listed on the city’s online auction site.  According to the San Francisco Chronicle, the couple paid $90k for the “block-long, private oval street lined by 35 megamillion-dollar mansions,” near the Presidio that its HOA reportedly owed just over $994 in back taxes & penalties going back at least 30 years!  Apparently all private streets in San Francisco are required to pay the $14 per year fee.  Not surprisingly, they’re now looking for…

Local Market Monitor (a National REIA preferred vendor) recently released their National Economic Outlook for August, 2017 where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook – August 2017 By: Ingo Winzer If the number of jobs in retail, instead of increasing 2 percent a year, will slowly erode from now on, is this a bad thing for the economy? Retail sales seem to be doing fine, its just taking fewer people to produce those results. From an economic perspective, any efficiency is a good thing. But looking at the larger picture, the…

We’ve had several posts on REI2Day about moving patterns and shifting demographics.  We recently came across this interesting report from smartasset.com looking at where retirees are moving.  They looked at migration data from the census bureau and then compared the number of people 60 and over who emigrated from a city or state (218 cities in all 50 states) and then compared that data it to those who immigrated.  The locations with the highest positive net immigration were determined to be the places where retirees are in fact moving the most.  Indeed… Florida overwhelmingly tops the list, followed by Arizona…..But…

HousingWire is reporting that New York City will provide legal counsel to low-income tenants facing eviction – for any reason.  Under legislation signed into law by Mayor Bill de Blasio earlier this month, NYC became the first city in the nation to provide such an entitlement when receiving an eviction notice.  The mayor expressed his “hope” that this bill will spread to other cities and states across the country.  For purposes of the law, low-income families are defined as those households making less that $50k per year. “It’s impossible to overstate the significance of this on a national level,” said…

Short-term rentals are hot right now – as well as controversial.  In her latest podcast, Kathy Fettke discusses several new startups that turn vacant apartment units into quasi-hotel rooms until they can be rented out.  In other words, making an empty unit contribute to the bottom-line (via Airbnb) until the next occupant moves in. “WhyHotel started experimenting with the idea near Washington, D.C. during the Trump inauguration. The company anticipated a lodging shortage and provided 50-furnished units in a 22-story apartment building called “The Bartlett” in Arlington’s Pentagon City. They were ready by January 13th, in time for the big…

According to the latest CoreLogic Loan Performance Insights Report, 4.5% of mortgages nationwide in May were in some stage of delinquency (30 days or more past due including those in foreclosure).  This represents a 0.8 percentage point decline in the overall delinquency rate compared with May 2016 when it was 5.3%.   In addition, May’s foreclosure inventory rate (measuring the share of mortgages in some stage of the foreclosure process) was 0.7% compared with 1% in May 2016. Those properties in serious delinquency (defined as 90 days or more past due including loans in foreclosure) was 2%, unchanged from April and…