Author: Brad Beckett

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.

According to new data released today by the U.S. Department of Commerce, sales of new single-family homes rose this month in signal that the housing market is rebounding strongly. According to the report: Sales of new single-family houses in July 2015 were at a seasonally adjusted annual rate of 507,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.4 percent (±14.8%)* above the revised June rate of 481,000 and is 25.8 percent (±22.6%) above the July 2014 estimate of 403,000. The median sales price of new houses…

The U.S. Department of Labor has issued a notice of proposed rule-making and request for comments on changes to the regulations issued under the Fair Labor Standards Act (FLSA) that cover who is exempt from overtime pay within certain categories of employees. The Obama Administration estimates that upwards of 5 million workers would fall under this rule within the first year. It is vitally important to understand the scale and scope of impact that this proposed rule will have on real estate investors (small businesses) and appropriate comments should be made through Regulations.gov. Who is and who is not exempt for…

According to a recent survey by Zillow, 63% of experts said rent control ordinances are “government intrusions into the marketplace that, however well-intentioned, always create more problems than they solve.” Read more here:  Experts: Rent Control Causes More Problems Than It Solves

The U.S. Supreme Court, in a recent 5-4 decision held that disparate-impact-based discrimination claims are within the jurisdiction of the court and fall under the Fair Housing Act. The National Law Review recently posted an analysis of that decision that found it: “…potentially exposes financial institutions to a higher degree of risk and scrutiny of their lending programs, policies and procedures by regulatory agencies and potential private sector plaintiffs, even though the decision is consistent with the position taken by the Department of Housing and Urban Development (“HUD”) in its regulations issued in 2013 and with a series of Federal…

Thanks to new technology, anyone with “a few bucks and an appetite for risk” can add real estate to their investment portfolios.  A recent article by FOXNews.com’s Robert Massi discusses new methods of capital aggregation through crowdfunding and offers advice before investing in such endeavors. Read the full story at:  Real estate investing: Not just for millionaires, FoxNews.com, 8/13/15

The Wall Street Journal is reporting that nationwide rents are rising faster for mid-tier apartments than they are for more luxury units.  According to the WSJ: “Developers’ focus on high end contributes to shortage of affordable units” and “construction costs are generally too high to justify building new complexes for low- and middle-income tenants, experts say, contributing to the scarcity.” Read the full article here: Rents Rise Faster for Midtier Apartments Than Luxury Ones, WSJ 8/16/15

The home remodeling market is poised to exceed $300 billion annually this year – a level not seen since 2007. Read more at Home improvement hot spots: Who’s rebuilding?, 8/13/15 Bankrate.com. “There are 2 big reasons for the recent surge in home improvement: rising sales of previously owned homes and increasing prices, says Abbe Will, a research analyst at Harvard’s Joint Center.”

According to a recent news report, while higher home prices make house flipping a little harder, it has become much more lucrative. Read the full article here: Housing flipping: It’s riskier but more lucrative

 The following update is courtesy of the Finney Law Firm, a Cincinnati-area based legal practice. As Wells Fargo Ends Agent Loan Referral Deals (Wells Fargo Ends Agent Loan Referral Deals) reports, one of the nation’s largest residential mortgage lenders, Wells Fargo, has terminated all MSAs or Marketing Services Agreements with Realtors, home builders and others.  Other lenders are quickly following suit. This is in addition to Wells Fargo recently terminating its joint ventures with similar entities in which the lender and Realtor team up in a new loan company, and split the profits from that enterprise. This new policy was spurred by…