Author: Brad Beckett

According to a recent report from Freddie Mac, people aged 55+ now control nearly 2/3 (approx. $8 trillion) of America’s home equity, which puts them in a prime position to significantly impact the country’s housing market.   Freddie Mac recently commissioned the first Freddie Mac 55+ Survey, which surveyed nearly 4,900 homeowners born before 1961 about their current housing situation, plans and other criteria. They are completing an analysis of 55+ renters and will release it when it’s finished.  The bottom line;  these folks are looking for specific criteria and have needs that the marketplace can meet.  Investors take note! Click…

HousingWire is reporting that one of the “most contentious battles in history of online real estate” is finally over.  Zillow has announced that a settlement was reached with Move over allegations of theft of trade secrets by two of its former executives who later joined Zillow. “According to a Securities and Exchange Commission filing, Zillow will pay Move, which operates Realtor.com for the National Association of Realtors and owned by News Corp, a total of $130 million to settle allegations that Errol Samuelson, who was once Move’s chief strategy officer, stole trade secrets and proprietary information from Move before joining Zillow…

Corelogic has released their Home Price Index and HPI Forecast for April 2016 showing that home prices are up 6.2%, year over year (which includes distressed sales) as well as increasing 1.8% month over month.  In addition, 17 states reached record highs for home prices.   CoreLogic’s HPI Forecast also maintains that home prices will increase by 5.3% on a year-over-year basis from April 2016 to April 2017, and on a month-over-month basis by 0.9%. Click here to read the full report.

This week HousingWire is reporting that there is growing momentum in Congress to replace the leadership structure of the Consumer Finance Protection Bureau (CFPB).   Specifically, the bureau’s director Richard Cordray is under fire from members of Congress for the amount of power he yields versus Congressional oversight.  The CFPB was created under the now-infamous Dodd-Frank legislation. In a recent speech, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-TX, said that he is planning to announce Republican-crafted plan to overhaul the Dodd-Frank Wall Street Reform and Consumer Protection Act as well as the CFPB, which was created as a result…

What is an REO, or Real Estate Owned property?  And no, we’re not talking about speedwagons.  Today’s infographic runs us through the frequently asked questions about REO’s and how investors can profit form buying them.  Hat Tip to Than Merrill….Happy Friday! Click here to read more about REO’s on FortuneBuilders.com

The Wall Street Journal’s Real Time Economics Blog is reporting that the median square footage size of new single-family houses in America is now 2467 sq. ft. – the largest on record according to data released by the Census Bureau.  This number is 11% higher than ten years ago and 61% larger than 40 years ago.  Meanwhile, birthrates in the U.S. are declining, so fewer children needing rooms. “…American homes have not only been getting larger, they’re also including more bathrooms and amenities…” Click here to read the full story on the WSJ.com (free)

This week housing data powerhouse RealtyTrac released their Q1 U.S. Home Flipping Report showing that 6.6% of all single family home and condo sales in the first quarter of 2016 were flips, a 20% increase from the previous quarter and up 3% from one year ago.  This number represents the highest rate of home flips since the Q1 of 2014. “After faltering in late 2014, home flipping has been gaining steam for the last year and a half thanks to falling interest rates and a dearth of housing inventory for flippers to compete against,” said Daren Blomquist, senior vice president…

According to the latest Yardi Matrix the average national apartment rental rate rose $10 in May, reaching another all-time high of $1,204.  Rents rose 0.9% on a month-over-month basis and were up 6% from one year ago.  Nationwide, the occupancy rate was 96% in April, down 10 basis points from March but flat with the first-quarter average. “Consistent job growth and the aging of Millennials into their prime renting years remain key drivers of apartment demand. The U.S. economy posted its 74th consecutive month of employment growth, pushing the net gain to date in this expansion to 13.5 million jobs.…

Last Friday’s infographic showed how the price of land has risen over the last 40 years in various regions across the country.  Now, switching gears we learn that the NAHB’s Eye on Housing is reporting that lot shortages hit a record high in May with 64% of builders reporting that the supply was low/very low in their market.  This number is 62% higher than last year and the highest since the NAHB began collecting data in 1997. “The percentage varies somewhat, based on region of the country, size of builder, and type of lot.  Although the categories are seldom defined precisely,…

According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI), U.S. house prices rose 1.3% in the first quarter – which is the nineteenth consecutive quarterly price increase.  In addition, prices were up 5.7% from one year ago.  The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. Interestingly, While the purchase-only HPI rose 5.7% from Q1 of 2015 to Q1 of 2016, the prices of other goods & services were nearly unchanged making the inflation-adjusted price of homes approximately 5.6% greater than last year. Key…