We’ve had a few interesting posts about Tarek El Moussa hosuing flipping over the years. They’re entertaining and, while it is on TV, they do contain some nuggets of reality from time to time. A recent story on Realtor.com talks about how he and his new wife Heather (not Christina) have a new show called “The Flipping El Moussas.” The reporter “cringe-watched” the first season which reveals how things don’t always go as planned with the 2,162-sq-ft., 4-bedroom, 3-bath mid-century modern house in Los Angeles – which they paid $2.15 million for. Interestingly, the final listing (after the rehab) shows…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with Glenn and Amber Schworm, who together have weathered the ups & downs of real estate investing through good and difficult markets. Back in 2007, Glenn and Amber Schworm owed $80,000 on their credit cards and had a family take care of. They turned to real estate investing just as the market began crashing. Still, they persisted with their flipping and renovation business and have since helped others flip over 1,000 homes worth over $85 million dollars. “…They’ve also managed to build teams…
A new report from Realtor.com says a decade of under-building in America has led to a shortfall of 6.5 million single-family homes in the U.S. To come up with their conclusions, Realtor.com looked at household formation, housing starts, and home sales. They found that given how many households were formed between 2012 and 2022 the U.S. is short of 6.5 million single-family homes. In addition, they say that builders moved into the apartment building sector, versus building single-family homes. “Cooling buyer demand and builder confidence led to slower single-family construction and a shift in builder focus to multi-family last year.…
The NAHB’s Eye on Housing says high housing costs have contributed to a downward shift in single-family housing starts in the nation’s in the densest counties. In addition, they point out that multifamily growth was robust throughout much of the country at the end of 2022 except in high-density markets. Their findings are from the NAHB’s Home Building Geography Index (HBGI) for Q4 2022. “The market share in the single-family market has consistently been changing since the pandemic. As many families move out of densely populated urban centers, there has been more single-family building in outlying areas of metros, small…
Monday, March 20th, is the first day of Spring! That means now is a great time to start thinking about your property’s landscaping. Whether it’s a rental or a new flip, a good-looking lawn will certainly add value and improve its curb appeal! The folks over at The Home Depot put together this handy infographic with some Spring fertilization tips to help make your lawn look great…..As always, stay safe and have a Happy Friday!!! Did you know….Members of National REIA receive a 2% biannual rebate, 20% off interior & exterior paints & primers, volume pricing, access to an exclusive…
A recent report from Zillow says the most pet-friendly city in the country for renters is Austin, Texas, with over 4 out of every 5 rental listings allowing pets. In fact, as of January, Zillow says more than half of their rental listings indicated they allow pets. Interestingly, 4 out of the top 10 cities on their list were in Texas. Zillow’s top 10 pet-friendly cities for renters: Austin, Texas – 80.8% of rental listings allow pets Dallas, Texas – 78.0% Fort Worth, Texas – 77.2% Charlotte, North Carolina – 76.6% Denver, Colorado – 76.5% San Antonio, Texas – 75.8%…
According to a recent report from ATTOM Data, HELOCs comprised 20.7% of all mortgages in Q4 2022 – nearly five times the 4.6% level from Q1 2021. The data, from their Q4 2022 U.S. Residential Property Mortgage Origination Report, also found that 1.52 million mortgages secured by residential property (1 to 4 units) were originated in the quarter. That figure was down 24% from Q3 2022, marking the seventh quarterly decrease in a row, and down 54% from Q4 2021. “ATTOM’s Q4 2022 mortgage origination report stated that even home-equity lending dropped, by 16 percent in the last few months…
According to Black Knight’s latest Mortgage Monitor, both supply & demand in the housing market are being impacted by a volatile interest rate environment. In addition, they say shortages in for-sale inventory are keeping affordability tight and buoying higher home prices that potentially lock would-be sellers in place. Indeed… “Sharply rising 30-year rates in February have weakened home affordability, with nearly all major U.S. markets remaining unaffordable as compared to their own long-run averages….Between escalating inventory challenges and worsening affordability, we’re seeing some volatility in the market – just not in the form of widespread, steep price corrections.” Said Andy…
A recent joint report from the NMHC & Urban Land Institute examines the feasibility and potential of repurposing unused and underutilized commercial real estate (offices, hotels, retail, etc.) into viable housing that could help with the nation’s housing crisis. The report seeks to seeks to answer: Is it feasible at all? For what types of structures? And to what extent? “Conversions of commercial real estate to residential units have become a mainstream development option, and perhaps even a specialized niche sector. A growing number of local, regional, and national developers are honing the skills required to undertake the complexities of…
The U.S. government is reporting that total construction spending in January, 2023 was at a seasonally adjusted annual rate of $1,825.7 billion, which is 0.1% below December’s revised estimate but is 5.7% higher than one year ago. Residential construction came in at a seasonally adjusted annual rate of $847.4 billion in January, which is 0.6% below December’s revised estimate. Click here to read the full report at the U.S. Census Bureau.
