Author: Brad Beckett

The National Association of Realtors recently reported at their 2017 Legislative Meetings & Trade Expo that Q1 2017  was the best quarterly existing sales pace in exactly a decade (coming in at 5.62 million), and is on track to finish around 5.64 million – the best since 2006 (which was 6.47 million) and 3.5% above 2016. In addition, the national median existing-home price is expected to rise around 5%  this year.  They also predict that supply, affordability and modest economic growth are holding back sales, which threatens the homeownership rate. “The housing market has exceeded expectations ever since the election,…

A new “airbnb-like” service connects boat owners, captains, and renters on one easy to use platform where you can rent a yacht, houseboat, powerboat, sailboat as an overnight accommodation.  It’s called WavStay, and for  boat owners they say “it’s an easy and secure way to offset ownership costs all while enjoying your boat when you want to.”  Indeed….  The service is currently operating in Ohio & Florida with active listings in the cities of Cincinnati, Miami, Naples and Sarasota.  So, do they take the keys or can you take your “floating room” for a little spin? Click here to visit…

We’ve all seen the fixer-up TV shows with the 2-bedroom ranch on a slab, more than likely in California, going for nearly a half a million dollars.  Of course, it’s all relative to location and good price here isn’t always the same over there.  With that in mind, the folks over at GOBankingRates.com came up with a list of how much home you can buy in each U.S. state with $300k….And they show you where you get the “most” home and where you get the “least” home for those big bucks. For example, $300k only gets you 625 square feet…

With summer fast approaching, here’s everything you need to know (but were afraid to ask) about air conditioners, ventilation and home cooling in general…..Happy Friday! Hat tip to Energy.gov.

The U.S. Government is reporting that privately owned housing starts in April were at a seasonally adjusted annual rate of of 1,172,000. This is 2.6% below the revised March’s number but is 0.7% than April, 2016.  Single-family housing starts in April were at a rate of 835k which is is 0.4% higher than March. The April rate for units in buildings with five units or more was 328,000.  Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,229,000. This is 2.5% below  March but is 5.7% higher than April, 2016. Single-family authorizations…

What cities recovered best from the housing bust?  Realtor.com recently did an analysis of the biggest 150 metros from across the country, factored in their highest pre-recession home-price heights, their lowest lows of the crash and determined which ones rebounded the best through 2016.  They looked at  home prices, the amount of new home construction, foreclosure and unemployment rates and the household income of local residents.  Interestingly, they excluded markets that didn’t experience much hardship.  They found that cities who achieved some of the speediest and most definitive recoveries were knowledge hubs and those that have done a good job of diversifying their…

A recent Mortgage Bankers Association “Chart of the Week” illustrated how low inventories of homes for sale are putting upward pressure on home prices.  Last week’s chart emphasizes that if the March pace of sales persists and inventory is not replenished, current inventory will run out in about 4 months. Recently, home sales have been rising as inventory is declining. “Prior to January of 2017, months supply has not been this low since January of 2005 just prior to the peak of existing home sales, when the nature of demand and credit conditions were quite different.  The average months supply…

We’ve posted about the tax burden in each state and recently we revealed which U.S. states lack a sales tax.  Now we’re looking at those few states without an income tax.  The folks at smartasset put together a nice list of those states and how they generate their revenue.  One thing’s for certain….No matter where you go, the government will have to be fed. “While avoiding state income taxes may seem appealing, there’s often a catch. Some states tax consumers more heavily when they pay for things like groceries and gas. Others – like Wyoming and Alaska – levy high…

Bloomberg is reporting that mortgage giants Fannie Mae & Freddie Mac may soon be offering financing for buyers of manufactured homes.  They report that this move is part of an effort by the govt-backed firms to reach out to low-income buyers seeking affordable housing options.   In addition, as a condition of their 2008 bailout, they were required to develop plans to serve three target areas:  manufactured housing, rural housing and affordable housing preservation.  The draft plans released in early May will be open to public comment and subject to review by the Federal Housing Finance Agency (FHFA) before taking effect…

Last week we saw a list of the 20 best college towns to buy investment property. This week we’re seeing data from Axiometrics showing continued strength in the student housing market as more investors have developed additional assets at universities across the nation.   This Fall, about 47k beds are scheduled to be delivered.  Interestingly, since 2011 over 330k new beds have come online. Click here to read more at Axiometrics.com.