Author: Brad Beckett

The National Association of Realtors are reporting that total existing sales home sales in November rose 0.7% to a seasonally adjusted annual rate of 5.61 million.   November’s sales pace is 15.4% higher than a year ago and the highest since February 2007.  November’s median existing-home price for all housing types was $234,900, up 6.8% from one year ago – marking the 57th consecutive month of year-over-year gains.  Total housing inventory was down 8.0% to 1.85 million existing homes available for sale (9.3% lower than a year ago).  And, at the current sales pace there is a 4 month supply of…

Here’s an interesting item;  With rising home prices in many metros across the country, a trend is developing where foreclosed homes are fetching far more than was originally owed by the former owner, thereby producing a surplus at the home’s auction (after all debts/liens have been resolved).  This surplus, if any, is supposed to be returned to the original mortgage holder.  Realtor.com is reporting that up to 80% of foreclosure auctions in Denver County, Colorado end up with surpluses after being sold at auction – resulting in nearly $1.5 million in uncollected surpluses from about 50 foreclosed homes. “The steady rise…

The RPOA Real Estate Investor Podcast recently discussed “How to Double and Triple your Rental Income with Vacation Rentals & Airbnb” with Sue Hoyuela, a nationally recognized expert on vacation rentals. “Technology and the Internet have created many new ways for real estate investors to increase their income.  Some savvy owners are foregoing tenants all together and turning their rental properties into Vacation Rentals that allow them to double or triple their profits.” Click here to listen on RPOA.org.

Data powerhouse CoreLogic recently launched a new quarterly report featuring their Housing Credit Index (HCI) that measures variations in home mortgage credit risk attributes over time – including borrower credit score, debt-to-income ratio (DTI) and loan-to-value ratio (LTV).  According to their methodology, a rising HCI indicates that new single-family loans have more credit risk than during the prior period.  A declining HCI means that new originations have less credit risk.  Loans originating in Q3 2016 continued to exhibit low credit risk versus the previous quarter and Q3 2015. CoreLogic says, in terms of credit risk, Q3 2016 loans were among…

The predictions for 2017 keep rolling in and we’re starting to see some common trends.  This past week Zillow released their housing predictions for 2017 which they say ” include a change in course for the housing market as it continues to reflect the nation’s economic recovery.”   So, will millennials finally be moving out of Mom & Dad’s basement? They predict: Cities will get cozier Millennials will move out of the nest New construction buyers will pony up Commuters will get comfortable Current homeowners will continue to prosper Click here to read the full story on Zillow.com.

Recently, the members of the American City County Exchange, a division of the American Legislative Exchange Council, representing city and county elected officials in 50 states, sent a letter to President-Elect Trump outlining their concerns about several items affecting local governments and what reforms are needed. Dear President-Elect Trump: The members of the American City County Exchange, a division of the American Legislative Exchange Council, representing city and county elected officials in 50 states, petition you with great urgency. We have been encouraged to hear about your desire to rebuild infrastructure, shrink the regulatory size of the federal government and…

The Commerce Department reported that privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000. This is 4.7% below October’s rate of 1,260,000 and is 6.6% below November 2015.  Single-family authorizations in November were at a rate of 778k; this is 0.5% above October’s figure of  774k.  Authorizations of units in buildings with five units or more were 384 in November.  Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000.  This is 18.7% below October’s number and is 6.9% higher than November 2015.  Single-family housing starts in…

There are so many ways to market your business that it can make your head spin.  Direct mail, bandit signs, yellow letters…on and on.  The good folks over at FortuneBuilders have outlined the “6 Real Estate Marketing Myths You Should Never Fall For.”  Bottom line; you need a strategy and you need to stick with it!  And, a great place to help you get started is at your local NREIA-affiliated real estate investor association.  Happy Friday…. “When you first start a marketing campaign – or even if you are already a seasoned marketer – it is crucial to mind your…

The latest Yardi Matrix is reporting that the average U.S. monthly rent dropped $2 in November to $1,214 – marking the 3rd consecutive month of decline.  According to the report “rent growth normally slows or reverses in the latter part of the year, as fewer people move during the holidays,” offering reassurance that “the multifamily market is in good shape going forward.”  Indeed…. Click here to read the full report at Yardi.com.

Where is the real estate industry headed in 2017?  That was the question put to a panel of experts in the latest issue of DS News in their special feature;  An Eye Toward the Future, the 2017 Industry Outlook – a sector-by-sector look at the housing industry from the perspective of those who know it best.  National REIA’s Charles Tassell was one of the experts who weighed-in on the subject and his interview can be found on page 57. Click here to read the full story on DS News.