Author: Brad Beckett

What are the best and worse states for families to lead a richer life?  And by richer we aren’t referring to wealth but rather all of the opportunities and factors that contribute to an increased quality of life.  The folks over at GoBankingRates.com recently crunched the numbers for all 50 states (and DC) to identify which provided the best income, housing, healthcare and educational opportunities.  They analyzed twelve factors that were split up among five categories;  Jobs & Income, Housing, Lifestyle, Healthcare and Safety. “There really is no ‘one size fits all’ formula for those trying to decide the best…

What’s in a name?  Well, everything – especially a name for your business.  That’s why the folks over at FortuneBuilders recently put together this handy chart on how to select the perfect name for your real estate business.  Hey, after all, it’s yours…and you deserve the best.  Happy Friday!

Coming on the heels of a double-digit increase in new home sales for July, the National Association of Realtors is reporting that sales of existing homes were down 3.2% in July to a seasonally adjusted annual rate of 5.39 million units compared to 5.57 million in June.  The median existing-home price for all housing types in July was $244,100, up 5.3% from one year ago.  July’s price increase marks the 53rd consecutive month of year-over-year gains.  Total housing inventory at the end of July was 2.13 million existing homes available for sale representing a 4.7-month supply. All-cash sales represented 21% of…

According to new data released this week by the U.S. Census Bureau and the Department of Housing and Urban Development, July sales of new single family homes were at seasonally adjusted annual rate of 654k (highest level since October 2007).  This number is 12.4% above June’s rate and 31.3% higher than one year ago.   The median sales price of new houses sold in July 2016 was $294,600; the average sales price was $355,800. Currently there is 4.3 months supply of new homes at the current sales rate. Click here to read the full report.

After analyzing recent housing data from the Commerce Department, the National Association of Home Builders (NAHB) says the number of single-family homes built-for-rent has posted solid gains over the last year.  Their analysis showed that built-for-rent accounted for 4.5% of total housing starts in the 2nd quarter of 2016.  However, they cautiously said  that “as homes age, they are more likely to be rented. Thus, the primary source of single-family rental homes is not construction but the existing housing stock.” Click here to read the full report at the NAHB’s Eye on Housing.

According to recent data from Zillow, 13.7% of American homeowners in urban regions and 11.2% of homeowners in suburban areas are underwater on their mortgage.  This compares to nearly a third of homeowners who were underwater after the burst of the housing bubble.   Interestingly, negative equity is nearly equally spread across urban and suburban areas across the country. Zillow says that in 13 of the nation’s largest metros, the share of urban and suburban homeowners who are underwater is within two percentage points. “At its worst, negative equity touched all kinds of homeowners in all kinds of markets,” said Zillow…

The Associated General Contractors of America (AGC) are reporting that 39 states added construction jobs between July 2015 and July 2016 while construction employment only increased in 23 states and the District of Columbia between June and July, according to analysis of Labor Department data.  Association officials said construction employment likely declined in many states as firms have growing difficulty locating qualified workers to hire. “Depending on market segment and geography, many firms report they are having a hard time finding enough workers to keep pace with demand,” said Stephen E. Sandherr, chief executive officer for the association.  “While there…

The Wall Street Journal is reporting that Ransomware attacks have spiked this year targeting users at all levels.  In fact, the FBI says that over 4k ransomware attacks have occurred since the first of the year – representing a 300% increase since 2015.  Not only is this the fastest growing malware threat but it has also become quite lucrative for would-be thieves.  Interestingly, according to the WSJ, Bitcoin has now become the preferred payment for cyber-thieves due to its anonymity and ability to send & receive form anywhere in the world. Ransomware works by infecting your computer with a virus…

Nightly Rentals, The Hottest Investment Right Now? How to earn 2-5 times the gross profit of traditional rental properties. By Christian Bryant, President of IRC Enterprises I am sure by now you have heard of the many nightly rental websites that allow property owners to advertise their homes, apartments, and even extra rooms for rent on a nightly basis. There have of course been some controversies over this new industry as it takes revenue away from the hotel industry and thus decreases the amount of taxes that local cities receive from the transient tax. One way or another, you have…

A couple weeks ago we learned that, nationally, foreclosures were trending downward.  However, looking deeper into that data (courtesy of ATTOM Data Solutions’ ReatyTrac) reveals that 13 states have actually seen year-over-year increases in the number of foreclosure starts – with Delaware leading the pack with a 113% increase.  Overall, data show that one in every 1,540 U.S. housing units had a foreclosure filing during the month of July. The states showing an increase in foreclosure starts are: Delaware: foreclosure starts jumped 113% Arizona:  up 76% Utah: up 63% Connecticut: up 50% Oregon: up 20% South Carolina: up 3% Massachusetts:…