Author: Brad Beckett

A new federal lawsuit says the California city of Highland is violating the Fourth Amendment rights of landlords and tenants by subjecting them to unjustified & warrantless open-ended searches of their property by city inspectors without complaints or evidence of wrongdoing.  The lawsuit was filed by the Pacific Legal Foundation (PLF) on behalf of local landlord Karl Trautwein and his tenants. The PLF said that the city is “attempting to bully property owners and tenants into allowing inspectors in without a warrant.” “Karl Trautwein and his tenants are victims of this arm-twisting.  Mr. Trautwein owns a number of rental homes…

You knew it was coming.  CNBC’s Diana Olick is reporting that the new sensational game Pokemon Go is finding its way into real estate listings.  One recent listing said “I’m fairly certain there is a PIKACHU at this open house, don’t miss it.”  Indeed… This might play out in some bizarre ways as Pokemon Go’s creators seek to further monetize their product by selling locations for honey-pots and maybe even virtual ad-space within the game.  Stay tuned….. Click here for the full story on CNBC.

A few months ago we posted about the Five Most Wanted Student Housing Amenities.  After all, student housing can be a very lucrative investment.  This week’s infographic sheds light on some proven strategies for listing student housing rentals as we approach the back-to-school season.  Happy Friday…. Hat tip to Places4Students.com.

This week housing data powerhouse RealtyTrac released their Midyear 2016 U.S. Foreclosure Market Report that shows over 500k U.S. properties with foreclosure filings during the first six months of 2016.  That number is down 20% from the last six months of 2015.   While foreclosures overall have been trending down, nineteen states posted year-over-year increases in foreclosure activity in the first half of 2016; those states included Massachusetts (46% increase); Connecticut (40% increase); Virginia (18% increase); Alabama (11% increase); and New York (10% increase).  Interestingly, 27% of all properties sold at foreclosure auction were purchased by investors.  This marks the highest…

The Plain Dealer (Cleveland, Ohio) is reporting that hundreds of Cleveland-area homeowners & renters will vacate their homes next week, to make room for short-term tenants traveling there for the GOP convention, which begins on July 18th.  The article points out that a unique rental market materialized to satisfy convention-driven demand.   The event is expected to draw more than 50k people into downtown Cleveland for the 4-day event. “Airbnb expects 1,300 to 1,400 guests to stay at its listings in the Cleveland area during the convention. That marks a fourfold spike in bookings, when compared with weeks on either end of…

This week data powerhouse CoreLogic released their May 2016 National Foreclosure Report showing that nationwide foreclosure inventory declined by 24.5% with completed foreclosures declining by 6.9%, compared with May 2015.  The actual number of completed foreclosures decreased from 41k in May 2015 to 38k in May 2016 – representing a 67.9% decrease from its peak of 117,813 in September 2010.  In addition, the nationwide foreclosure inventory was approximately 309k homes (1% of all home with a mortgage and the lowest since 10/07) compared to 517k in May 2015. “Delinquency and foreclosure rates continue to drop as we experience the benefits…

Congressman Jeb Hansarling (R-TX), Chairman of the House Financial Services Committee recently introduced new legislation called the Choice Act that calls for moving the country away from the Obama Administration’s financial control law (Dodd-Frank) to a new paradigm in banking, capital markets and financial opportunity. Over the weekend the Wall Street Journal featured a lead editorial about the plan and how it will benefit America.  The WSJ says Hensarling’s plan will “promote economic growth and protect taxpayers.” “The Texas Congressman wants a simpler system in which private investors with money at risk decide which assets are safe. Under the Hensarling…

A recent article in USA Today says several real estate experts predict that fallout from the United Kingdom’s vote to break away from the European Union (the so-called Brexit) will not negatively impact the U.S. real estate sector in the same manner as it has affected Britain’s – which has raised uncertainty about market prices. “The fundamentals of U.S. real estate are positive,” said Cedrik Lachance, director of U.S. REIT research at Green Street Advisors, a California-based real estate research firm. “That seems unchanged to us.” The lower rates “could provide a boost for lower-income U.S. buyers” hoping to enter the real…

7 things I Would Tell My Younger Self About Real Estate Investing By Larry Arth Larry Arth started his successful real estate investing career helping his dad fix up rental houses and mowing vacant lots around vacant houses. One day at age 15, he asked about buying a lot where he had been mowing. While his dad was not like Donald Trump’s father, Larry’s dad did help a small amount to help Larry buy that vacant lot. He sold the lot three years later at age 18 and bought a duplex, his first real estate investment. Driving down the road…

HousingWire recently reworked data from the National Association of Realtors (NAR) to produce this cool infographic showing the 10 Hottest Housing Markets for Millennials.  Happy Friday….