Less than Half of Buyers Said Tax Reform Affected Their Home Search

BY  ON JUNE 6, 2019

A recent survey by Redfin revealed that less than half of home buyers said 2017’s Tax Reform affected their home searches.  The survey was conducted in March of over 2k U.S. residents who planned to buy or sell a primary residence in the next year.

“Last year more homebuyers were worried that tax reform would hurt their homebuying budgets, but it turns out tax reform wasn’t all bad or all good for homebuyers,” said Redfin chief economist Daryl Fairweather. “Some homebuyers, especially in low-tax states, are now paying less in taxes overall, which has left them with more cash for a more expensive home. For others, not being able to deduct as much of their property taxes or mortgage interest from their taxable income was the other shoe that needed to drop to make them pick up and move to a more affordable area.

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

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For Sale Inventory's Shift to the Rental Market over the Past Decade

BY  ON JUNE 6, 2019

A recent report from CoreLogic shows that, over the past 10 years, there’s been a shift in homes that normally would be for sale, into the rental market. They suggest this shift has resulted in an actual “under supply” of available housing for sale.  They point out that as recent as March, inventory has been at an historical low.  Indeed…

“During the Great Recession and 2006-2011 home-price drop, many homes were foreclosed upon or traded as short sales and ended up being purchased by investors, with a number of these houses eventually becoming rental properties.”

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

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Zumper's National Rent Report for June

BY  ON JUNE 5, 2019

Rental information site Zumper recently released their National Rent Report for June showing that the median national rent for 1-bedroom apartment was $1,216 and the median two-bedroom rent was $1,471.  Year to date, one bedroom prices are up 1.5% and two bedroom prices are up 2.4%.  Zumper analyzes rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on all data available in the month prior to publication…..be sure to check out their entire list of 100 cities.

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

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The Best Places to Park Your Money

BY  ON JUNE 5, 2019

“I don’t want to make more money — said no one, ever”...That’s the gist of a recent Realtor.com article that took a close look at eight common investments (three are related to housing) and how well they’ve been doing over the last five years.  They zeroed-in on the highest and lowest one-year, three-year, and five-year returns to provide a snapshot of how various money-making opportunities are performing.

The eight common investments are:

  • Home Price Appreciation
  • REITs
  • Bitcoin
  • Stocks
  • Mutual Funds
  • Bonds
  • Home Flipping
  • Single-Family Rentals

                                                                                                                               Charles Tassell

“Make sure you have reserves for repairs beyond what you plan and expect for,” says Charles Tassell, a Cincinnati-based landlord, flipper, and chief operating officer of the National Real Estate Investors Association. “You never know what you’re going to find when you open up a wall.”

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

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U.S. Construction Spending Holds Firm in April

BY  ON JUNE 4, 2019

The U.S. government is reporting that total construction spending in April was estimated at a seasonally adjusted annual rate of $1,298.5 billion, which was nearly the same as March’s revised rate.  Residential construction was at a seasonally adjusted annual rate of $499.3 billion in April, 0.6% below March’s revised estimate.

 

Click here to read the full report at Census.gov.

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ABODO: Rents Are Movin' on Up!

BY  ON JUNE 4, 2019

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in June was $1,087 with two-bedroom units coming in at $1,354.  ABODO uses over 1 million listings across the United States to calculate the median 1-bedroom rent price by city, state, and nation and then track the month-over-month percentage change. To avoid small sample sizes, they restrict their analysis to cities meeting minimum population and property count thresholds.  Be sure to check out their extensive city list.

“Both one and two-bedroom units are movin’ on up with two-bedroom units rising by over 2 percent in June. Let’s get into it and discuss this accelerating nationwide trend.”

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

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Uber Drivers Bird Dogging for House Flippers

BY  ON JUNE 3, 2019

There’s a new side-hustle for the side-hustlers driving for Uber; bird-dogging for real estate investors.  Realtor.com says that house flippers are paying Uber drivers(during their down time) as their eyes and ears to take pictures of potential flips.  One company they cited pays up to $1,500 per referral that leads to a purchase and some are even paying for good leads.

“It’s a great way to be able to reach areas that I can’t drive around town all day,” said Scott Sekulow, who runs a HomeVestors franchise in Atlanta that has hired several drivers. “You don’t need a lot to know the house needs repairs.

Click here to read the report at Reator.com.

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Pending Home Sales See Decline in April

The National Association of Realtors is reporting that overall pending home sales declined in April, but predicted higher sales over the next few months.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) decreased to 104.3 in April, with the Midwest being the only region to experience growth. In addition, they report that year-over-year contract signings declined 2%, marking the 16th straight month of annual decreases.

“Though the latest monthly figure shows a mild decline in contract signings, mortgage applications and consumer confidence have been steadily rising…It’s inevitable for sales to turn higher in a few months.”  Said Lawrence, Yun, the NAR’s chief economist.

Click here to read the full release at the National Association of Realtors.

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Guide to Vacation Rental Marketing

 

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Cities Where Home Prices Have Fallen the Most

Realtor.com says that 1 in 5 metropolitan areas are now seeing decreases in home prices, compared with half as many just one year ago.  So, where exactly have home prices fallen the most?  To come up with that list, they looked at the median list price changes from April 2018 to April 2019 in the 250 biggest metropolitan areas.

“Some markets are seeing price drops due to overbuilding: This creates too much supply and not enough demand, so prices naturally fall. And just like in past years, in other areas, natural disasters devastated lives, communities, and local real estate.”

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

 

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