According to new data released by the Mortgage Bankers Association, delinquency rates for commercial and multifamily mortgage loans continued to decline in the third quarter of 2015. “Commercial and multifamily mortgages are performing very well,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “Delinquency rates for loans held by life companies, Fannie Mae and Freddie Mac are all hovering near zero. Among loans held by banks, the delinquency rate for multifamily loans is now lower than it has been since the series began in 1993, and the delinquency rate for mortgages backed by other commercial properties is…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
What do you know about millennials, the most tech-savvy generation to come along yet? According to the census bureau there are over 83 million of them. That makes them the largest demographic cohort as well a powerful force when it comes to demand for housing – representing 32% of the home buying market and 68% of first-time buyers (according to the Home Buyer and Seller Generational Trends Report 2015). The folks at UpNest.com recently put together the following infographic to help illustrate the various characteristics of millennials and what they value in the home buying & selling experience. Happy Friday.…
According to a report on TechCrunch, real estate site Redfin has launched its own home-price estimate tool, taking on Zillow’s Zestimate. According to Redfin, whose stated mission is “to redefine real estate in the customer’s favor,” their new tool, Redfin Estimate, will be data-driven, and a “more accurate” home valuation tool. Their site will use the same data as real estate agents and claims that “unlike other appraisal estimators, the Redfin Estimate looks at 100% of the homes on the MLS to calculate your property’s current market value — so you get an accurate online estimate, instantly.” Interestingly, TechCrunch asked Redfin…
The Commerce Department announced this week that construction spending during October 2015 was estimated at a seasonally adjusted annual rate of $1,107.4 billion, 1% above September’s estimate of $1,096.6 billion. The October figure is 13.0% higher than the October 2014 estimate of $979.6 billion. During the first 10 months of 2015, construction spending amounted to $888.1 billion, 10.7% higher than the same period in 2014. In addition, according to historical data October’s figure is the highest level since December 2007. Click here to read the full release from the US Department of Commerce. Click here to see historical data from…
Forbes.com says crowdfunding has been particularly well received in the real estate sector but they urge investors to understand its implications before choosing an investment platform. Indeed… “Through crowdfunding, instead of having to rely on connections to pinpoint real estate deals and having to put $100,000 or more into a single deal, investors can access these deals from the convenience of their laptop or tablet.” Click here to read the entire story on Forbes.com. More information about crowdfunding can be found at REIFA.org
In a win for the entire real estate industry, HousingWire is reporting that a bi-partisan deal has been reached in Congress to exclude the use of “g-fees” to fund the massive 5-year highway bill which is slated for passage this week. Just last month we reported that Congress was considering taxing mortgages to help pay for the proposed highway bill. According to HousingWire: “Thanks to a landmark agreement between the Democrats and Republicans in both the House of Representatives and the Senate, it’s looking increasingly likely that the fees charged by Fannie Mae and Freddie Mac to guarantee loans will not be used to fund…
According to CoreLogic’s latest Home Price Index and HPI Forecast, nationwide home prices increased 6.8% in October (year over year) and were 1% higher than September. “Many markets have experienced a low inventory of homes for sale along with strong buyer demand, which is sustaining upward pressure on home prices. These conditions are likely to persist as we enter 2016,” said Dr. Frank Nothaft, chief economist for CoreLogic. “A year from now, as we finish out October 2016, we expect the CoreLogic national Home Price Index appreciation to slow to 5.2 percent.” Click here to read the full report…
According to new data from the Pew Research Center, 66% of Americans own at least two digital devices (computer, smartphone or tablet) and 36% of them own own all three. Where do you fall in these groups and how are you harnessing your technology grow your business? “The age group most likely to own multiple devices is 30- to 49-year-olds, half of whom report owning all three, according to our 2015 survey data.” Click here to read the full report.
As we move into Winter, we need to remind ourselves that Spring is just around the corner and with it, potentially damaging thunderstorms. The real estate data & analytics site RealtyTrac recently posted an interactive map showing areas of the country with the highest risk of tornadic activity. Happy Friday. The top five counties with high or very high risk are: Wayne County, Michigan Marion County, Indiana Oklahoma County, Oklahoma Jefferson County, Alabama Cobb County, Georgia
HousingWire recently reported the top 10 investment markets for single family rentals (SFR’s). Using data from HomeUnion, the top 10 cities were: Charlotte-Concord-Gastonia, North Carolina-South Carolina Orlando-Kissimmee-Sanford, Florida Baltimore-Columbia-Towson, Maryland Cincinnati, Ohio-Kentucky-Indiana Jacksonville, Florida Birmingham-Hoover, Alabama Tampa-St. Petersburg-Clearwater, Florida Indianapolis-Carmel-Anderson, Indiana Milwaukee-Waukesha-West Allis, Wisconsin Nashville-Davidson-Murfreesboro-Franklin, Tennessee Click here to read the full story.
