Author: Brad Beckett

A new study from the R Street Institute aims to score America’s 59 largest cities on their openness to short-term-rentals (STR’s) according to their regulatory, legal and tax-collection environment.  Using their “Roomscore,” grading system, the study assigns cities grades from A to F in multiple areas determining their friendliness or hostility to short term rentals. Of the 59 cities rated, the study found that Galveston and Savannah were the most friendly to STR listing services like Airbnb and Homeaway.  And, Atlanta, Denver and Oklahoma City were the least friendly to STR’s. “An overview of the legal frameworks that local jurisdictions…

As we approach this year’s tax deadline it’s worth taking a look at which states have the highest and lowest tax rates.  The folks over financial site WalletHub.com recently identified the states with the highest and lowest effective tax burdens correlating data across four types of taxation: Real Estate taxes, Vehicle Property Taxes, Income Taxes and Sales & Excise Taxes.  Data used to create these rankings were collected from the U.S. Census Bureau, the Tax Foundation, the Federation of Tax Administrators, the American Petroleum Institute, the National Automobile Dealers Association, each state’s Department of Motor Vehicles and WalletHub research. Their…

The American Institute of Architects recently released their Home Design Trends Survey for 4q of 2015 which, among other things, found that investment in kitchens and bathrooms remains a top priority.   Kitchens specifically have reinforced their position as the center of the home with design considerations that accommodate multiple activities. “Many of the new kitchen features that were really growing in popularity a few years ago have leveled off, such as larger pantry space and double islands,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Popularity in LED lighting and upper-end appliances continues to grow at a strong…

The total percentage of 2nd homes among the nation’s housing stock increased to 5.6% according to new analysis from the National Association of Home Builders.    According to data, the total number of 2nd homes in America reached 7.5 million in 2014, an increase of over half a million from when the survey was last done in 2009.  Interestingly the top 10 counties with the largest share of 2nd homes are mostly near tourist destinations…go figure! “It is worthwhile to understand the patterns of second homes because they could have a significant economic impact on local housing markets and thus have…

There’s a new real estate domain name in town….dot homes.  Real estate resource and marketing solutions provider Homes.com announced this week that the sunrise, or trademark period for the new “dot HOMES” or .Homes top-level domain is now open for eligible trademark holders with open registration beginning May 12th. “A .Homes domain name is available exclusively to businesses that provide products or services to the residential real estate community. This includes real estate agents, real estate brokers, mortgage professionals, property managers, builders, property appraisers, property inspectors, property insurance providers, multiple listing services and real estate associations. All domain name applicants…

Just what are the five habits of highly profitable home flippers?  Today’s infographic from RealtyTrac lays it out pretty well.  Happy Friday…

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…