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.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
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.
Is renting a home starting to look like a better option than buying? According to a recent report from Florida Atlantic University, record high home prices are being driven upward by rising rents in cities across the country. With home prices reaching new highs, the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index says that rents are rising slower than the rate of property price appreciation which they say moves areas into a more rent-friendly direction. They say that the U.S. as a whole and 15 of 23 cities measured by the BH&J Index are in what they…
ATTOM Data Solutions, curator of the nation’s largest fused property database, recently released their Q3 2016 U.S. Home Flipping Report showing there were 45,718 single family home flips, representing 5.1% of all single family home & condo sales in the 3rd quarter. Breaking down this number further shows that 67.9% of these flips were cash purchases – the lowest percentage in eight years. For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period. ATTOM Data Solutions uses publicly recorded sales deed data from…
December is nearly over so that means the crystal balls are coming out for 2017. This week real estate brokerage Redfin out together their top seven list of housing predictions for 2017. Enjoy… “Strong buyer interest, better access to credit and a modest increase in the number of homes for sale will allow home sales to grow, but not as much as in 2016. Home price growth will hold steady. Homes will sell even faster next year, breaking this year’s record as the fastest real estate market.” Redfin’s seven predictions for 2017 are: 1. The housing market will continue to…
This week data powerhouse CoreLogic released their National Foreclosure Report showing that nationwide foreclosure inventory declined 31.5% (year over year). There were 30k completed foreclosures in October representing a 24.9% decrease from October 2015. Across the country there were approximately 328k homes in foreclosure, which represent 0.8% of all homes with a mortgage. The five states with the highest number of completed foreclosures were Florida (51k), Michigan (29k), Texas (26k), Ohio (23k) and Georgia (20k). Together, they account for 36% of completed foreclosures nationally. “Housing and labor markets improved over the past year, setting the stage for further declines in…
In a recent Real Estate News for Investors podcast, Kathy Fettke discusses the new No-Smoking rule in public housing and how it might affect landlords who accept Section 8 vouchers (Housing Choice Vouchers). Total run-time is less than 5 minutes. Click here to hear more of Kathy’s podcasts on NewsforInvestors.com
We’re always on the lookout for a bargain – no matter what we’re buying in America we’re wired to find the best deal. So where are the top 10 cities with homes on the market that have seen the most price cuts? The folks over at Realtor.com ranked the 300 largest metro areas by share of homes for sale that experienced priced reductions over the past year. This is an interesting list because there are a multitude of reasons why homes could be seeing price reductions. However, good data means better information for that next deal. “A price reduction can…
Attom Data Solutions (parent to RealtyTrac) recently released their Q3 2016 U.S. Home Equity and Underwater Report, which shows that over 13 million U.S. homeowners (23.4%) were equity rich (with a loan-to-value ratio of 50% or lower). However their report also showed that over 6.1 million homeowners were seriously underwater. The following infographic from Attom shows where the Home Equity Rich are getting richer and the Home Equity Poor are getting poorer….Happy Friday! Click here to read the full report on RealtyTrac.com.
What are America’s next top food towns? Our friends over at Realtor.com once again put pen to paper and came up with an awesome list of up and coming cities with unique dining experiences worth a culinary road-trip. To come up with their list, they took the largest 500 cities in the country, dropped the top 50, and then analyzed the remaining 450 based on number of chef-led restaurants, microbreweries, food markets, small coffee shops and much more. Some are surprises and some we already knew about (Asheville comes to mind). Mmmmmm… The next top 10 food towns are: Asheville,…
