Rise of the Older, Single Female Home Buyer

More and more older single women are purchasing homes at an increasing clip.  This interesting aspect of potential homebuyers was recently reported by the Wall Street Journal and reposted by Realtor.com.  Interestingly, the article points out census data showing that, since 1981, single women over 55 have been the fastest-growing demographic of home buyers when compared with several other categories.  In 2017, single, older women made up 8.2% of all home buyers, which is nearly double the percentage 20 years ago.  Furthermore, these women are buying homes at nearly 2x the rate as their male counterparts.

“There have long been many more older single women than men, reflecting the fact that men remarry at a higher rate after a divorce, as well as the fact that men generally die at younger ages. But the dramatic increase in home purchasing by older women speaks to something else. Many women in this place in life want to own a home of their own, says Jessica Lautz, director of demographics and behavioral insight for the National Association of Realtors.”

Click here to read the full story on Realtor.com.

Click here to read the full story at the Wall Street Journal.

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29 Real Estate Sub-Markets Markets to Watch

Online real estate marketplace Roofstock recently released a list of the 29 real estate submarkets to watch, based on data from their nationwide collection of property managers.   Their list includes six major areas’ submarkets and it is probably worth a look – especially if you’re seeking new markets in which to invest.  They also say they will continue adding to this list.  Indeed….Do your due diligence, gather good intelligence and you’ll be on the right path.

“Getting your foot in the right real estate market at the right time can feel a bit like throwing darts blindfolded. While housing demand in hot areas like Nashville, Denver, Seattle and Dallas continues to blow up, there’s plenty of other bandwagons to get on if you know where to look.”

The key areas identified by Roofstock are:

 

Click here to read the full story on roofstock.com.

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Best & Worst Cities for Recreation in America

The recreational aspects of any given area can be a main driver in determining where to live – and we all know how a nice, clean park adds value to any neighborhood.  Recently, the folks over at WalletHub looked at the 100 largest U.S. cities to determine the best and worst cities for recreational activities.  They looked at metrics such as cost of living, the quality of parks, the accessibility of entertainment & recreational facilities and of course, the climate.  Be sure to click on the interactive map below.

Here are their top 10 cities:

  1. Orlando, FL
  2. Las Vegas, NV
  3. San Diego, CA
  4. Cincinnati, OH
  5. Tampa, FL
  6. Atlanta, GA
  7. Scottsdale, AZ
  8. Tuscon, AZ
  9. Boise, ID
  10. Philadelphia, PA

 

Click here to read the full story on Wallethub.com.

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Yardi Says Apartment Rents at All-Time High in June

According to the latest Yardi Matrix, U.S. multifamily rents rose $12 in June to $1,405 – which they report is an all-time high.  Year-over-year in June, rents were up 2.9%, a 20-basis-point increase over the previous month.  Yardi says the strong performance is a good sign that demand generally is holding up and that robust supply growth is not an impediment to rent growth in most markets.

“The resilient U.S. multifamily market demonstrated its strength and consistency in the first half of 2018. Despite headwinds presented by consistent supply growth and lack of affordability in many major metros, rents continue to grow steadily. Average U.S. rents increased by $29 in the second quarter, up 2.1% for the quarter, 2.6% for the first half and 2.9% year-over-year.”

Click here to read the full report on Yardi.com.

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New Single-Family Home Size Increases

Reversing a trend over the past couple years, the sizes of new single-family homes have been increasing since the start of 2018. The NAHB’s Eye on Housing recently dug into data from the U.S. Census Bureau to show that the median single-family square floor area increased to 2,436 square feet and the average (mean) square footage increased to 2,641 square feet.  It’s also been reported Americans are physically getting larger/fatter…..coincidence???

Click here to read the full story on the NAHB’s Eye on Housing.

 

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Ten Real Estate Calculations Every Investor Should Know

What are the 10 calculations every real estate investor ought to know?  Today’s infographic from FortuneBuilders gives investors a comprehensive guide to the most commonly used investment property calculations in order to discover the best type of real estate calculator for your business – everything from After Repair Value (ARV)  to Gross Yield!  Indeed…….Happy Friday!!!

“Investing in a property can be exciting, but taking the time to properly analyze your deal is paramount. In some cases, what may seem like a good deal at first glance may actually cause financial pitfalls long-term.”

Hat tip to FortuneBuilders.

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Houston Ranks as No. 1 U.S. Destination City for Movers

According to the latest U-Haul Migration Trends Report, Houston, TX, tops the list for as the number one destination for the 9th consecutive year.  In fact, Houston saw a 5% increase since last year in one-way truck rentals.  The top-10 cities in their 50-city list are Houston, Chicago, Orlando, Brooklyn, San Antonio, Las Vegas, Austin, Philadelphia;, Charlotte and Columbus.  U-Haul bases its rankings on rankings on the total number of arriving one-way U-Haul trucks into a city during the past calendar year.   Be sure to check out their entire list of the top-50 cities to see where people are moving.

“We are an international city with a strong housing market,” stated Matt Merrill, U-Haul Company of West Houston president. “The cost of living remains relatively inexpensive. The average paycheck goes further in Houston. Many companies are relocating here and bringing jobs to our communities…”

Click here to read the full report at UHaul.com.

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Mortgage Delinquency Rate at 11-Year Low

According to the latest CoreLogic Loan Performance Insights Report, 4.3% of mortgages were in some stage of delinquency in March, 2018.  This figure is not only down one percentage point from a year ago, it is also at the lowest level since March, 2007.  March’s foreclosure inventory rate (the share of mortgages in some stage of the foreclosure process) came in at 0.6%, down from 0.8% one year ago.  CoreLogic points out that the foreclosure rate is back to the pre-crisis level of 0.6%.

Click here to read the full story.

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Recent California Law Allows Homeowners to Help Solve Housing Crisis

BY  ON JUNE 13, 2018

It kind of sounds oxymoronic, but a law passed in California back in 2016 to ease the housing crisis just might be showing some fruit.  According to a recent story on Bloomberg, California’s legislature passed a law two years ago that allows owners of single-family properties to build guest apartments, which are referred to as accessory dwelling units (ADUs).  Basically, they’re granny flats, guest houses or apartments over the garage.  They have to be in residential areas and meet setback and height requirements. Interestingly, cities cannot outlaw them nor can they force homeowners to go through the local planning commission.  However Bloomberg does ponder whether “cities will resist the temptation to excessively control how homeowners use the space.”  It is California after all.

“…House flippers are starting to see adding accessory units as a way to increase value enough to make investing in larger houses in particular pay off…”

Click here to read the full story on Bloomberg.com.

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Four Renovations for Max ROI

You don’t need to watch Tarek & Christina to know that it’s what you put into that flip that maximizes your ROI (return on investment).  Along those lines, the folks over at Keeping Current Matters looked at data from HGTV to come up with the top 4 renovations to maximize your flip’s ROI.  Number 1?  Give that bathroom an upgrade and laugh all the way to the bank!  Happy Friday!!

Hat tip to Keeping Current Matters.

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