Author: Brad Beckett

The Wall Street Journal is reporting that mortgage bankers and real-estate agents are bracing for the impact of the of a five-year-old law that will be implemented on October 3rd forcing them to overhaul the way they process sales.  The regulations, part of the sweeping Dodd-Frank law, are intended to help consumers better understand their mortgage terms.  As with most new laws, the unintended consequences have real-estate professionals concerned that confusion will set in and cause unnecessary delays. “It is without question the single largest implementation challenge that the broad industry has faced since Dodd-Frank. It’s massive. It involves every…

The Urban Institute released a report suggesting that single-family rental homes could be the solution to increasing the supply of so called affordable housing.  Citing data showing that single-families make up over half of the 14 million rental units in the US, they  suggest changes at the federal level to encourage greater investment in these properties which they suggest would increase supply. “Turning distressed single-family houses into rentals can be an important way to absorb the overhang from the credit crisis and stabilize neighborhoods” Click here to read the report, Single-family homes can help address the affordable rental-housing crisis

Black Knight Financial Services reported that their “first look” at August 2015 month-end mortgage performance statistics derived from its loan-level database, which  represents approximately two-thirds of the overall market.  According to their data: At 18%, August’s year-over-year decline in delinquency rate is the highest since May 2011 Prepayment rate (single month mortality or SMM) continues decline; down 15% month-over-month Foreclosure starts rise to 80.5k in August driven by an increase in repeat foreclosure starts Reduced non-current rates observed in all 50 states over the past six months Click here to read the full report,  Despite Monthly Rise, Delinquency Rate Sees…

The U.S. Commerce Department reports that sales of new single-family houses in August 2015 were at a seasonally adjusted annual rate of 552k.  This is 5.7% above the revised July rate of 522k and is 21.6% above the August 2014 estimate of 454k. The median sales price of new houses sold in August 2015 was $292,700. The average sales price was $353,400. The seasonally adjusted estimate of new houses for sale at the end of August was 216k  representing a supply of 4.7 months. Click here to read the full release.

Over the past 40 years, American household composition has changed dramatically – more singles living alone, children returning to the nest and people living with a partner.  The Sparefoot Blog recently posted the following infographic that illustrates this current phenomenon. Via SpareFoot

Using data from Zillow, the Associated Press is reporting that home rents in the US rose at a slower pace in August.  The downturn may be contributed to a rise in apartment construction in many major cities, which according to the US Commerce Department has seen a year-to-date increase of 12.7%. Real estate data firm Zillow says that median rents rose a seasonally adjusted 3.8 percent from a year ago, off from the annual pace of 4.2 percent in July. Rental prices are still climbing at a faster pace than average earnings, increasing the financial burden of housing and potentially…

A recent article in The Washington Post illustrates occupied housing units, by building type in America’s 10 largest cities.  The chart is based the 2014 American Community Survey’s data on the characteristics of occupied housing and shows the percentage of each city’s type of housing stock – from single-family detached up to 20+ unit multi-families. “These figures tell us not just about the physical character of each city, but the potential they have for new housing as many places (Detroit not withstanding) look for space to fit a growing urban population. Higher density, in all of these cities, doesn’t have to mean Manhattan-style…

The National Association of Realtors (NAR) estimates that when a home is sold in the US, it produces a multiplier effect that generates $57,543 in economic impact.  Those economic contributions are derived from;  Home construction, real estate brokerage, mortgage lending, title insurance, rental and leasing, home appraisal, moving and other related activities. Please see Economic Impact of Real Estate Activity: United States By NAR Research August 2015

With economic conditions improving now is a great time to invest in real estate.  TheStreet.com recently posted a short article with good advice for those thinking about making the commitment.  Remember, real estate investment can be wonderful way to build wealth and a better life.  A great place to start is with your local REIA where you will find people, like yourselves, who will share their knowledge & expertise as well as good advice. “Now is a good time to be a buyer in the U.S. residential real estate investment market. But be smart about it, do your due diligence,…

The National Association of Realtors (NAR) says urban populations are growing faster than ever and has posted an interesting data-driven infographic illustrating reasons for that recent population growth.