Author: Brad Beckett

Last month we posted about an AP story reporting that Cleveland city officials are considering legislation that would regulate, limit and tax short-term rentals arranged through sharing websites such as Airbnb. This week Airbnb Action (an advocacy arm of Airbnb) posted comments from their hosts in Cleveland and encouraged others (via provided link) to contact and share their feelings with Cleveland’s Mayor and City Council.  Specifically they feel a 90-day per year cap is unnecessary. “Cleveland’s lawmakers are considering new laws for home sharing and home sharers from all over the city are joining together to stand up for fair…

Over at CNBC’s Realty Check, Diana Olick reports that first-time homebuyers are largely sitting out this housing recovery, and while affordability is the main reason, it is not the only one. “It could also be they just want more than their parents did. Three-quarters of first-time homebuyers say they are looking for a home that will serve them long term, perhaps accommodating a family. They claim they don’t want a starter home. That’s according to a new national survey by Bank of America of more than 1,000 adults age 18 and over who want to buy a home in the…

Corelogic has released their Home Price Index and HPI Forecast for February 2016 showing that home prices are up 6.8%, year over year (which includes distressed sales) as well as increasing 1.1% month over month.  In addition,  CoreLogic’s HPI Forecast predicts that home prices will increase by 5.2% on a year-over-year basis from February 2016 to February 2017, and on a month-over-month basis by 0.6%. “Fixed-rate mortgage rates dropped more than one-quarter of a percentage point in the first three months of 2016, and job creation averaged 209,000 over the same period,” said Dr. Frank Nothaft, chief economist for CoreLogic.…

The following media release was issued by NREIA in reposnse to HUD’s recent guidelines regarding criminal background checks for potential tenants.  National Real Estate Group: HUD goes too far! NREIA Says Guidelines Will Have Chilling Effect on Criminal Background Checks (Cincinnati, OH) The National Real Estate Investors Association (NREIA) said today that new guidelines issued Monday by the U.S. Department of Housing and Urban Development go too far and will have a chilling effect on criminal background checks used to screen potential tenants. According to HUD, because a disproportionate number of African Americans & Hispanics have criminal records, they face…

Today, Tuesday, April 5, is National Apartment Housing Day as proclaimed by the National Apartment Association.  The day celebrates the importance, value, and positive impact that apartments have on America’s economy. “With one-third of Americans now renting their homes, there has never been a more exciting time to be a part of the apartment housing industry,” said Doug Culkin, CAE, President & CEO of the National Apartment Association. “ It’s time to celebrate the new American Dream.” Important facts to consider: Apartments and their residents contribute $1.3 trillion to the economy each year. That’s 12.3 million jobs in construction, operations,…

The U.S. Department of Housing and Urban Development released new guidelines today that could severely restrict a landlord’s ability to screen tenants based on criminal background checks, saying it could violate the Fair Housing Act. The guidelines, issued Monday morning, say that because disproportionate numbers of African Americans & Hispanics have criminal records, they face potential discrimination in housing options based on their race. This issue will be closely followed by NREIA. In their summary conclusion, the HUD guidelines state: The Fair Housing Act prohibits both intentional housing discrimination and housing practices that have an unjustified discriminatory effect because of…

According to the latest Yardi Matrix the average national apartment rental rate rose $6 in March, reaching another time high of $1,181. Rents rose 0.5% month-over-month in February, and were up 1.5% for the first quarter. “Despite the good performance, rent growth continues to moderate. On a year-over-year basis, national rents were up by 5.7% in March, but that was down 20 basis points from February and 70 basis points from January. The bottom line is that although few (if any) property owners would be unhappy with 5.7% annual rent increases, growth was even better in the first quarter a…

Did you know that America’s fire death rate is one of the highest per capita in the industrialized world?  Fire kills around 3k and injures approximately 20k people every year.  And, believe it or not, the majority of deaths are in homes without a working smoke alarm. The U.S. Fire Administration publishes a handy state-by-state guide with residential smoke alarm requirements.  Click here to view it. Click here to read more on Fema.com Click here to see state-by-state residential smoke alarm requirements.

If you’re tired of rising rent, should you consider becoming a landlord?  That’s the tack of a recent story on CNBC that suggests with a lackluster bond market and shaky stock returns, people should turn their attention towards investing in rental properties. Indeed….and a great place to start is your local REIA – where you’ll find the necessary resources and expertise you’ll need to get involved in the world of real estate investing. “…single-family rental homes made up about 9 percent of the U.S. housing stock before the housing bust. Now they are about 13 percent and still rising, according…

We believe as real estate investors, borrowers, lenders, our success is only limited by the quality and number of our connections.  The investor who has better, faster and more connections will not only survive today’s challenging environment… they will excel in it! REIFACON 2016 will host experts that will provide strategies and insights on everything from evaluating and packaging a deal to choosing a funder, regulation updates and more.  It’s a great opportunity to network and hear from other investors and entrepreneurs.  With so much talent and experience in one room, you’re sure to discover new ideas that will help your…