Real estate data services giant CoreLogic recently released it’s July 2015 National Foreclosure Report showing that July’s foreclosure inventory was down 3.5% from June and represents 45 months of year-over-year declines. In addition: There were 38k completed foreclosures Nationally, down from 50k in July 2014 Serious delinquent rate is 3.4% lowest level since December 2007 Approximately 469k homes in the US were in some stage of foreclosure compared to 650k in July, 2014 Click here to read the entire report, National Foreclosure Report, July 2015.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The National Federation of Independent Business (NFIB) recently released their monthly survey report on small business economic trends. While the optimism index remained virtually static, it is interesting to note that nearly half of the top problems facing small businesses today are government related. “The Index of Small Business Optimism went nowhere in August, so the good news is it did not fall. Two Index components, job openings and earnings trends both posted a solid 4 point gain, but there was not much action in the remaining components. Five components posted gains, 3 fell and 2 were unchanged. The Index…
With rising college costs compounding an ever-increasing student debt, USA Today is reporting a novel idea for parents searching for ways to help offset these costs, investing in real estate. According to the article thousands of dollars can be saved, which amounts to nearly 54% of the College Board’s estimated budget of annual housing expenses. The secret lies in parents purchasing property and then renting out rooms to other students, according to Jennifer Fredericks, a broker at Better Homes and Gardens Real Estate Preferred Living that has worked in real estate for the past 21 years. Read more at Real…
A recent article posted on Inman is speculating that internet giant Google is “tiptoeing toward real estate” from several different angles. The article outlines several acquisitions and strategies that would suggest their entry into real estate. Their thesis in a nutshell: – Google recently launched home services advertising and will soon unveil a mortgage comparison tool. – Google investment arms back two online real estate marketplaces and one agent-matching site. – The Internet giant is pioneering 3-D virtual tour and smart home technology. Read more at 8 Ways Google is Circling Real Estate (subscription may be required)
The Commerce Department reported that construction spending in July climbed to its highest level in more than seven years. According to the release, construction spending during July 2015 was estimated at a seasonally adjusted annual rate of $1.08 trillion, 0.7 percent above the revised June estimate. The July figure is 13.7 percent above the July 2014 estimate of $952.5 billion. During the first 7 months of this year, construction spending amounted to $583.2 billion, 9.3 percent above the $533.7 billion for the same period in 2014. “Ground breakings for houses, apartment complexes and commercial centers have helped to improve overall…
Various reports in the media over the past week have highlighted the recent National Labor Relations Board (NLRB) decision to classify some sub-contractors as “joint employees” and the confusion it has sown – especially in the home building industry. CNBC’s Realty Check reports that while [the] “NLRB’s ruling was based on a case in another industry, so it remains to be seen exactly how it would apply to the builders.” “The homebuilding industry, which is primarily made up of small businesses who rely greatly on the work of subcontractors would overwhelmingly be harmed by the new standard,” said Tom Woods,…
According to a recent article on the theRealDeal.com, fear of further currency devaluation in China will bring on a flood of real estate investment in the American market – which they see as a high-return investment with moderate risk and politically stablity, as compared to China. “The Chinese see US real estate as a relatively moderate risk, high-return investment….More and more Chinese buyers will also be eyeing residential property as an investment, according to Svenja Gudell, the chief economist at Zillow. She said she expects to see a different kind of Chinese buyer seeking property in the US: A reduction…
We’ve all heard the phrase “the New Normal” and how it seems to continually pop up in our ever-changing lives. A recent article posted by the National Association of Realtors has a new take on the New Normal as being “the situation of the Millennial generation.” In addition, according to recent several reports millennials love home ownership: “…or at least the idea of a owning a home of their own. A whopping 80 percent of 25- to 34-year-olds say they are ‘optimistic about residential real estate,’ according to a Prudential/HSF Affiliates survey taken in the second quarter…This generation also embraces…
What are the best places in America where renting a home beats buying one? TheStreet.com, using data from ReatlyTrac & HUD, have come up with a list of 10 places where renting a home is less expensive than buying one. They are: San Francisco Seattle Suffolk County, NY Denver Washington, D.C. Portland, OR Los Angeles Port St. Lucie, FL Asheville, NC Lincoln, NE Read the complete story here.
New data released today by S&P Dow Jones Indices showed that home prices have continually risen over the last 12 months. The data, from the S&P/Case-Shiller Home Price Indices, report a 4.5% annual increase om June, versus a 4.4% increase in May. “Nationally, home prices continue to rise at a 4-5% annual rate, two to three times the rate of inflation,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. Click here to read the full report.
