Author: Brad Beckett

The U.S. Department Housing and Urban Development (HUD) this week unveiled their proposed budget for FY 2017 that includes over $11 billion in new mandatory spending as well as over $48 billion in gross discretionary funding.  The budget will require Congressional support and will undoubtedly undergo many changes & twists before something is finally approved. Some takeaways: $20.9 billion for the Housing Choice Voucher program $10.8 billion for the Project-Based Rental Assistance program, which supports 12 months of funding for rental assistance contracts with public and private owners who maintain affordable rental housing for 1.2 million families. Click here to…

This week data-powerhouse CoreLogic released their December 2015 national Foreclosure Report showing that foreclosure inventory declined by 23.8% and completed foreclosures declined by 22.6%  compared with December 2014.  The number of completed foreclosures nationwide decreased year over year from 41k in December 2014 to 32k in December 2015. The number of completed foreclosures in December 2015 was down 72.8% from the peak of 117,722 in September 2010. Key takeaways: The five states with the highest number of completed foreclosures were Florida (79k), Michigan (50k), Texas (30k), Ohio (24k) and Georgia (24k).  These five states accounted for almost half of all…

Currently in the U.S. around 14% of all households  are multi-generational and that number is expected to grow.  A lot has been written about this phenomenon over past few years and it seems to be a trend worth keeping an eye on.  This week CNBC’s Diana Olick took a look at the growing trend of multi-generational living arrangements and its impact on the economy. Click here to watch the entire report.

One of the many benefits of being a member of National REIA is a discount on marketing services provided by Constant Contact.   Today’s infographic talks about the What, When and Who of Successful emails. Happy Friday….

Food for thought…..Builder is reporting that a recent study by door manufacturer Therma-Tru says that a nice-looking entry door can increase the perceived value of a home by an average of 4.2%, or $18,750 in an average-priced home.  The study was produced by surveying recent home buyers in different regions of the country using photos of homes with enhanced and unenhanced doors. “This survey showed very clearly that the perception of higher value is there with an enhanced entry door, whether it’s glass or sidelites or a new entryway configuration,” says Derek Fielding, director of marketing insights and innovation for…

This week property information provider CoreLogic released their December 2015 Home Price Index & forecast report showing that home prices nationwide, including distressed sales, increased year over year by 6.3% in December 2015 (compared 12/14) and increased month over month by 0.8% in December 2015 (compared with 11/14).  In addition, CoreLogic’s forecast predicts that home prices will increase by 5.4% over 2016. Click here to read the full report on CoreLogic.

The folks over at Inman recently posted the “11 amazing real estate facts to entertain your brain.”  Sometimes it’s good to take in some factoids that help put everything into perspective….not to mention providing some good conversation starters. Who knew that brass doorknobs are antimicrobial? Click here to read 11 amazing real estate facts to entertain your brain, Inman

Black Knight Financial Services recently released their latest Mortgage Monitor Report (for December 2015) where they found that the mortgage payment-to-income ratio is still favorable by historical standards.  However, they say the long-term impact of rising interest rates and home prices on affordability varies with geography and warrants close observation moving forward. Key takeaways: ​​21% of median income needed to purchase national median-priced home; 2000 – 2002 average was 26% At current rate of home price appreciation and 50-basis-point-per-year rise in rates, eight states would surpass pre-bubble affordability levels within 12 months; 22 states would within 24 months 42% of…

In the January issue of FreddieMac’s Insight & Outlook, they report that while the single-family rental market expended (35% of all  rentals in 2013) during the recession, a new phenomenon is taking place with the emergence of Buy to Rent (B2R) firms.   They conclude that “while the data is mixed, there are some signs that large-scale firms intend to manage their large portfolios of single-family rentals as an on-going business.” In 2012, a new type of single-family rental business appeared. A few large investors, backed by private equity, started accumulating portfolios of single-family homes with the intention of renting and…

The Federal Housing Administration (FHA) today announced this week a multifamily insurance rate reduction designed to encourage capital financing of affordable and energy-efficient apartments. The rate reductions will take effect on April 1, 2016, and will directly impact FHA’s Multifamily Housing Programs and properties housing low- and moderate-income families and/or developments installing energy-efficient systems or building within federal energy guidelines. FHA estimates that the multifamily insurance rate reductions will spur the rehabilitation of an additional 12,000 units of affordable housing per year nationally, meaning over the next three years nearly 40,000 families could benefit from higher quality and affordable housing. Click…