CNBC recently interviewed RealtyTrac’s Vice President, Daren Blomquist about the return of house flipping. He doesn’t think we’re seeing the “crazy levels” of 10 years ago, however he says the high number of recent flippers are an indication of “bandwagon flippers” taking advantage of certain markets with homes that need a lot of work. In this context, he cites that 2016 saw the highest number of flipped homes since 2006 with an average gross return per flip of $62k. Indeed…. Click here to watch on CNBC.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
According to new data from the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family homes rose in November signaling that the housing market is rebounding strongly. November sales of new single-family houses were at a seasonally adjusted annual rate of 592k – which is is 5.2% above October’s rate and is 16.5% than one year ago. The median sales price of new houses sold in November was $305,400; the average sales price was $359,900. The seasonally adjusted estimate of new houses for sale at the end of November was 250k, representing 5.1 months…
Black Knight Financial Services released their Home Price Index (HPI) report for October showing that home prices were up just 0.2% from September and up 5.6% from one year ago. This number also marks 54 consecutive months of sustained year-over-year growth. Currently at $266K, the U.S. HPI has risen over 33.5% from the market’s bottom and is now within just 0.4% of a new national peak. The report also shows that home prices in 6 of the nation’s 20 largest states and 7 of the 40 largest metros hit new peaks in October. Covering 90% of U.S. residential properties at the ZIP-code level, the Black…
Are PCBs the New “Asbestos?” In a recent podcast, Kathy Fettke says that if you own a building that was constructed in the 1950s, 60s, or 70s, you need to be aware of potential PCB contamination because it’s becoming headline news. What exactly are PCB’s anyway? Polychlorinated biphenyls are man-made chemicals that were widely used in construction materials and electrical products starting in the 50’s until they were banned in 1979. They were found in caulking, oil-based paint, floor finishes, and fluorescent light ballasts. This podcast is worth a listen. Click here to hear more of Kathy’s podcasts on NewsforInvestors.com
At the end of December S&P CoreLogic Case-Shiller released their National Home Price Index showing that home prices rose 5.6% in October (year over year). Their 10-City Composite remained unchanged and the 20-City Composite posted a 0.1% increase in October. After seasonal adjustment, the National Index recorded a 0.9% month-over-month increase, while both the 10-City and 20-City Composites each reported a 0.6% month-over-month increase. 13 of 20 cities reported increases in September before seasonal adjustment; after seasonal adjustment, all 20 cities saw prices rise. Seattle, Portland, and Denver reported the highest year-over-year gains among the 20 cities over each of…
As readers know, we’re always on the lookout for interesting data. The folks over at howmuch.net used data from the Bureau of Labor Statistics to compile exactly how Americans have spent their hard-earned money over the last 75 years. After adjusting for inflation, they broke it down into 12 categories; Reading, alcohol, tobacco, education, personal care, miscellaneous, recreation & entertainment, healthcare, clothing, food, transportation and housing. It’s fairly obvious that, with the exception of 1941, Housing dominates the list. Click here to read the full story on howmuch.net.
The National Association predicts that existing home sales will reach 5.52 million, the average price of a home will be $243k and 2017 will end with mortgage rates hovering around 4.6%. However they caution: According to Lawrence Yun, NAR chief economist, the swift rise in mortgage rates poses a threat to a faster pace of sales next year. With inventory tight and prices already rising far above incomes in some areas, the unwelcoming sign of higher borrowing costs only adds to the difficult barrier of entry for many prospective buyers. As a result, many are feeling less confident about buying.…
13 Things Baby Boomer Renters Want and Landlords Need to Know By Larry Arth As a real estate investor and landlord myself I understand that tenants are the pillars of our business. Working with hundreds of investors, I carry a high level of interest in these tenants who represent our customer base. I trust that you, as a diligent investor and landlord, do as well. With the importance of knowing exactly who your customers are, I have done research like the post, Why Millennials are important to landlords and the five things you need to know. There is another group…
What are the most popular ROI-upgrades across the nation? Recently real estate resource site Trulia sifted through home listings from over 100 metros to find the most popular features in each US state. The big winner? Decks – followed by hardwood floors and granite. Interestingly, Trulia says decks bring 80% to 120% ROI when it’s time to sell that property….Happy Friday! Click here to read the full story on Trulia.com.
A savvy & unnamed New York real estate investor has snapped up the boyhood home of President-Elect Donald Trump and plans to auction in January right before Trump’s inauguration. Realtor.com reports that the house was originally for sale back in the Fall at $1.25 million but since Trump’s election it could fetch 10x that amount. The 5-bedroom home was built in the 1940’s by Mr. Trump’s father and is the address listed “the Donald’s” birth certificate. Paramont Realty USA has set the bidding deadline for 4pm, January 17th…so act fast if you’re interested. Childhood Home of President Elect Donald J.…
