Rental information site Zumper recently released their National Rent Report for May showing that the median national rent for 1-bedroom apartment was $1,169 and $1,390 for a 2-bedroom apartment. San Francisco continues to dominate their National Rent Index of 100 cities at $3,370/$4500 with Toledo, Ohio rounding out the bottom at $480/$580. “As we head into peak moving season, renters will be up against a higher apartment turnover rate,” said Zumper CEO Anthemos Georgiades. Click here to read the full report on Zumper.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The NAHB’s (National Association of Home Builders) Q1 2017single-family 55+ Housing Market Index (55+ HMI) shows that thr 55+ housing market remains firmly in positive territory, indicating that more builders view conditions as good than poor. The 55+ HMI is based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic). As more and more baby-boomers retire and downsize it’s important for investors to pay attention to this demographic – especially as they sell their old homes and look for places…
According to the latest Yardi Matrix, multifamily rents posted solid gains in April to an average of $1,314, which is 2% higher than one year ago. The Matrix Monthly is comprised of data gleaned from 121 markets covered by Yardi Matrix. “Now rents are peaking and have become difficult to afford for the average resident in many metros, while supply is at cyclical peaks. We expect upwards of 363,000 units to come online in 2017, with the number of deliveries declining in 2018 and 2019.” Click here to read the full report.
Recently on the ICOR Real Estate Investing Podcast, Troy Miller sat down with Frank Rolfe, the 5th Largest Park Land Owner in the US (200+ parks), to talk about building a mobile home park empire. Rolfe started with just one park, and then partnered with Colorado Investor, Dave Reynolds to expand that into a multi-million dollar portfolio of commercial property. There are roughly 44k trailer parks in the United States and building new ones has become an ongoing challenge – regulatory, politicians NIMBY opposition etc. This is a good listen and an interesting opportunity for investors. Click here to listen…
Corelogic released their Home Price Index and HPI Forecast for march 2017 showing that home prices are up 7%, year over year (which includes distressed sales) as well as increasing 1.6% month over month. In addition, CoreLogic’s HPI Forecast predicts that home prices will increase by 4.9% on a year-over-year basis from March 2017 to March 2018. “Prices in more than half the country have already surpassed their previous peaks, and almost 20% of of metropolitan areas are now at their price peaks.” Said Dr. Frank Nothaft, Chief Economist for CoreLogic. Click here to read the full report on Corelogic.com.…
Have you seen DIY Network’s reality TV show First Time Flippers? A recent story over on Realtor.com says these “rookies make the darnedest mistakes” while calling the show itself a “train-wreck reality TV at its finest.” The show just began season 5 and features real-life “rookie” house flippers fumbling their way through a flip. In the “Don’t Quit on a Sand Pit” episode, this St. Petersburg, FL, couple, who have a 3-year-old and a 6-month-old, decide they want to start flipping as a “family business.” So Liz goes out and buys a fixer-upper for $200,000, and Ray promptly quits his full-time…
National apartment listing site ABODO recently reported that nationwide rent prices slightly rose in April with the median price of $1,012 for a one-bedroom apartment. San Francisco continues to lead with $3,415, followed by New York City, NY ($2,705), San Jose, CA ($2,459) and Boston, MA ($2,398). ABODO uses over 1 million listings across the United States to calculate the median 1-bedroom rent price by city, state, and nation and then track the month-over-month percentage change. To avoid small sample sizes, they restrict their analysis to cities meeting minimum population and property count thresholds. Click here to read the full…
We recently learned about the record existing home sales that took place in March. Today’s infographic from the National Association of Realtors breaks down those numbers to reveal what exactly is taking place. Happy Friday!! Click here to read more.
What the kitchen faucet taught me about how to keep great tenants By John Triplett, NationalREIA As a small investor focused primarily on single-family home investing, I stay very close to my business and the issues that come up with the tenants. From time to time in this blog, I will share a story or two from my business and tenant relationships that I hope might help you in your real estate investing business. So here is one that just came up. That late-night maintenance call I got a call last night from Jake – We will call him Jake…
A recent analysis from John Burns Real Estate Consulting says that secondary apartment markets are outperforming what they call “surban” locations (desirable suburban locations with urban amenities) and that these secondary markets account for the largest current year-over-year rent growth, which they forecast to outperform through 2020. Interestingly, the article also contains an analysis of U-Haul truck rental pricing, which is always useful in identifying in & out migration patterns nationwide – especially in regards to their hypothesis. Click here to read more.
