Author: Brad Beckett

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.

Google is now a licensed mortgage broker although, for now, it won’t be directly backing any mortgages.  What it has done is get into the quote business with a new site launched this week called Google Compare.  The new site will allow buyers to shop and compare home loans & refinancing options through partnerships with local and national lenders. Right now the product is only available in California but there are plans to expand to more states. Click here to visit Google Compare.

The National Association of Realtors reported today that existing-home sales in October, while at a healthy pace, fell 3.4% to a seasonally adjusted annual rate of 5.36 million in October from 5.55 million in September.  In spite of the decline, sales are still 3.9% higher than one year ago. Lawrence Yun, NAR chief economist, says a sales cooldown in October was likely given the pullback in contract signings the last couple of months. “New and existing-home supply has struggled to improve so far this fall, leading to few choices for buyers and no easement of the ongoing affordability concerns still…

The New York Times recently reported that for all the talk about the millennial generation (those aged 18 to 34) being reluctant homeowners some are being drawn to real estate as an investment opportunity.   Indeed….One place to start is your local REIA. “I’m interested in real estate investment because of all the ways you can make money — from appreciation, leverage, cash flow, tax benefits,” Mr. Killian said. “I’m not looking to get rich quick. I’m just looking to have long-term income I can rely on.” Click here to read the full story, Millennials Investing in Rental Properties, NY Times,…