Author: Brad Beckett

Housing data powerhouse ReatyTrac recently identified the top 30 zip-codes in America to profitably flip a home marketed to the growing hipster demographic.  Each of the 30 zip-codes met five criteria that not only branded them as a hipster hot spot but also as highly profitable for home flipping.  The zip codes were ranked based on the share of the population aged 20 to 34 in 2014. “…hipsters typically aren’t looking for just any place to live; they are looking for a place that matches their particular vision of what a city, a neighborhood and a home should look, sound,…

According to recent analysis from the NAHB’s Eye on Housing, the rental apartment market continued to be strong at the end of 2015 as multifamily production expanded.   Their data indicate that completions of unfurnished rental apartments in buildings with five or more units totaled 298,500 units for the four quarter period ending with the third quarter of 2015, representing a 25% increase from 2014. Click here to read the full report on Eye on Housing.

According to a recent study by mortgage information site HSH.com, the average American will need to earn just over $51k to afford the median-priced home in the U.S.   Using data from Realtor.com, as well as their own, the study determined the necessary salary required to buy a median-priced home in 27 metro areas – assuming the buyer has good to excellent credit, puts 20% down, and will spend no greater tan 28% of their income on their house payment. Indeed….Location, location, location…..it’s all relative. Click here to read the full story on Realtor.com

CoreLogic recently released their National Foreclosure Report for January 2016 showing that foreclosure inventory declined by 21.7%  and completed foreclosures declined by 16.2% compared with January 2015.  The number of completed foreclosures nationwide decreased year over year from 46k in January 2015 to 38k in January 2016.  The number of completed foreclosures in January 2016 was down 67.6% from the peak of 117,743 in September 2010. In addition, CoreLogic also reported that the number of mortgages in serious delinquency (defined as 90 days or more past due, including loans in foreclosure or REO) declined by 22.5% from January 2015 to…

The Millennial generation, those aged 18-34, now make up over a quarter of the U.S. population.  They are disrupting all sectors of the economy and causing a major re-think among industries across the board.  A recent article on Forbes.com highlights this trend with the Top 5 Ways Millennials Are Disrupting Industries. “Millennials also have a significant impact on the housing market. The US Departments of Commerce and Housing and Urban Development estimate that 1.1 million housing units were started in 2015, more than double 2009’s 554,000 new units. Although millennials have taken longer to establish themselves as homeowners and heads…

In today’s fast-paced, always-connected world good data is essential in making smart investment decisions.  Some of that data is interesting and some of it will put you to sleep.  Nevertheless, having a good “lay of the land” plays a vital role when watching trends and ever-changing market conditions. The folks over the National Multifamily Housing Council have put together a quick fact page showing US residential demographics that’s worth a look. The data include: U.S. Households: How Many Rent, How Many Own? Tenure by Age of Householders/Tenure by Age of Population What Types of Structures do Renters Live in? Apartment…

Last week’s infographic featured America’s most vacant cities, using RealtyTrac’s recently released  Q1 2016 U.S. Residential Property Vacancy Analysis.  Today we’re looking the opposite direction at the five least vacant cities in America.  Happy Friday! Cliock here to read the full report on RealtyTrac

This week housing data powerhouse RealtyTrac released its Year-End and Q4 2015 U.S. Home Flipping Report, which shows that in 2015 over 179k single family homes & condos were flipped in the U.S., representing 5.5% of all single family home & condo sales during the year (up from 5.3% in 2014). “As confidence in the housing recovery spreads, more real estate investors and would-be real estate investors are hopping on the home flipping bandwagon,” said Daren Blomquist, senior vice president at RealtyTrac. “Not only is the share of home flips on the rise again, but we also see the flipping…

The U.S. Department of Housing & Urban Development announced this week a new rule that will “reduce burden on state and local housing agencies and private landlords,” streamline a host of requirements and provide greater flexibility for agencies administering rental assistance programs. The new streamlined rule applies to local housing agencies administering Public Housing and the Housing Choice Voucher (HCV) programs as well as private landlords under contract through HUD’s Multifamily Housing Programs.  In addition, the rule relaxes regulations on state and local units of government administering tenant-based rental assistance programs through HUD’s HOME Investment Partnerships Program and Housing Opportunities…

Forbes is reporting that troubles for mortgage servicing giant Ocwen Financial continue to mount.  As recent as January, Ocwen was fined by the SEC for $2 million for misstating financial results “by using a flawed, undisclosed methodology to value complex mortgage assets,” now we’re learning that Ocwen has disclosed a new SEC probe into its operations. On Monday, Ocwen reported a $247 million annual loss and saw revenues tumble 17.5% as the company tries to deleverage and recover from an onslaught of scrutiny by regulators into its servicing practices and financial arrangements with related entities, Altisource Portfolio Solutions, Altisource Residential, Altisource Asset Management,…