VA Loans by the Numbers
BY BRAD BECKETT ON NOVEMBER 16, 2018
There are a lot of creative financing plans provided by real estate investors that can help folks get into housing and achieve their piece of the American Dream. Often, it’s the only way a family can afford to buy a home of their own and real estate investors are proud to provide these vital solutions. In light of the recent Veterans’ day holiday, today’s infographic is about a homeownership benefit that is only available to America’s military veterans, the VA Home Loan. In 2017, $189 billion was loaned to veterans and their families through this program. The first step in getting a VA home loan is to apply for a Certificate of Eligibility (COE). Click here for more information and how apply……Happy Friday!!!
Hat tip to Keeping Current Matters.
New Homes Being Built in HOA’s Continue to Rise
BY BRAD BECKETT ON NOVEMBER 15, 2018
Recently released data continue to show that more and more new homes are being built as part of a homeowner’s association. Using data from the Census Bureau, the NAHB’s Eye on Housing reports that 60.7% of all homes started in 2017 were built within a community or homeowner’s association. In fact, since 2011 over 50% of all homes built fall into this category.
The Census Bureau defines community or homeowner’s associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these organizations are usually created when the development is built, and membership is mandatory.”
Click here to read the full story on the NAHB’s Eye on Housing.
New “dot Realestate” Domains to go On Sale in Late November
BY BRAD BECKETT ON NOVEMBER 15, 2018
It used to be cool to get that awesome “dot com” or “dot org” address but now there’s a new domain in town for real estate professionals; “dot realestate.” The domain is being launched by none other than the National Association of Realtors and will be available for purchase by the general public through GoDaddy starting November 26, however NAR members can buy it as early as November 16 in a special pre-sale. According to the Realtors the “dot realestate” domain “is free of restrictions and will allow real estate entities and professionals to creatively market properties and geographic areas served, along with personal brands and specialties.”
Attic Insulation Calculator
BY BRAD BECKETT ON NOVEMBER 14, 2018
Many older homes lack sufficient attic insulation to retain heat, however it is also one of the easiest places in a home to properly insulate. As shown in the map below, different regions of the country have different R-Values for the types of insulation required in their particular climates. The folks over at The Home Depot have put together a handy attic insulation calculator to help determine your area’s recommended R-value and estimate how much insulation is needed to help keep your property warm in the winter. Simply enter your information for a quick estimate of the attic insulation you’ll need.
Click here to determine your attic insulation requirements.
Are Shrinking Profits Causing Home Flippers to Flee???
BY BRAD BECKETT ON NOVEMBER 14, 2018
RealtyCheck’s Diana Olick reports that higher costs, shrinking profits and lower demand are causing some home flippers to flee the markets in certain areas. She cites data from ATTOM Data Solutions showing that flipping volume has been falling annually by double-digit percentages for at least three months as well as gross flipping returns falling to their lowest level in nearly seven years. It also takes much longer to sell a flipped home, now averaging 186 days.
Zillow Paying Cash for Homes in Houston
BY BRAD BECKETT ON NOVEMBER 13, 2018
Earlier this year we posted about Zillow getting into the home flipping business in Las Vegas, Orlando and Phoenix. A recent article in the Houston Chronicle reports that they will soon begin buying & selling homes in Houston, Texas through their Zillow Offers program. The program pays cash to buy houses from qualified sellers. After the sale is complete (the seller gets to choose a closing date) the home will then be relisted. Zillow bills the program by appealing to sellers’ motivation status when they say “skip the hassle…sell to Zillow.” Indeed…
RealtyShares Faces Uncertain Future as it Lays off Staff
BY BRAD BECKETT ON NOVEMBER 12, 2018
After failing to secure more funding, real estate crowdfunding platform RealtyShares will soon be laying off staff and, as reported by The Real Deal, faces an uncertain future. According to the report, RealtyShares’ last-ditch efforts to find a buyer for the company were unsuccessful and they will ensure that customers who invested in real estate projects through its platform will get their money back. The company was founded in 2013 and raised over $870 million that was invested over 1,160 projects.
“Over the past six months, RealtyShares aggressively pursued a number of financing options to continue growing the business,” RealtyShares wrote in an email to customers on Wednesday. “Unfortunately, despite our best efforts, we were unable to secure additional capital. As a result, we will not offer new investments or accept new investors on the RealtyShares platform.”
Big Cities with Markets for Buyers
BY BRAD BECKETT ON NOVEMBER 12, 2018
Realtor.com says there are actually neighborhoods in the country’s biggest cities where home buyers have the upper hand. They identified the top 10 places where prices are affordable, there are plenty of homes for sale, a relatively low crime rate, and a reasonable work commute. To get this list, they analyzed zip codes in the nation’s 10 largest cities. Then they looked at items such as median price, days on market, and the share of homes for sale. To keep things enticing, they eliminated neighborhoods where commuting takes more than an hour (in rush hour) and they took out places with high crime rates (go figure?).
“Buyers are getting creative to make the dream of homeownership become a reality, while also dealing with the reality of their budget,” says Danielle Hale, chief economist for realtor.com. “They’re looking for homes that might be smaller or maybe require some work, or to neighborhoods that are less expensive that might be their second pick.”
Honoring All Who Served
BY BRAD BECKETT ON NOVEMBER 9, 2018
In 1918, on the 11th day, of the 11th month, at the 11th hour, the guns fell silent. This year’s Veterans Day (11/11/18) marks the 100th anniversary of the end of the First World War.
National REIA salutes all of those who have had the honor & privilege of wearing this country’s uniform (over 18 million men and women).
Here is a little history about this important day; In 1918, the armistice of the First World War officially took effect on the 11th day, of the 11th month, at the 11th hour. The following year President Woodrow Wilson declared November 11th as Armistice Day. It would later become a holiday to honor veterans of World War I and then not to long after World War II, all American Veterans. Finally, in 1954, it was renamed “Veterans Day” to honor all American veterans who served in times of war and peace. Click here for some statistics from the Census Bureau about America’s Veterans.…..And, be sure to thank someone who has served.
Hat tip to the US Census Bureau.
Median Home Price See Slowest Appreciation Since 2016
BY BRAD BECKETT ON NOVEMBER 9, 2018
According to the latest ATTOM Data Solutions U.S. Home Sales Report, single family homes & condos sold for a median price of $256k in Q3, up 1% from the previous quarter and up 4.8% from one year ago. They note, however that this is the slowest pace of annual home price appreciation since early 2016 and blame it partly on overall home affordability. Interestingly, the report noted that homeowners who sold in Q3 2018 owned their homes a record average of 8.23 years, up from an average of 7.97 years in Q2 2018 and up from 7.98 years in Q3 2017.
“The continued slowdown in the rate of home price appreciation nationwide and in many local markets is a rational response to worsening home affordability — which has deteriorated at an accelerated pace this year due to rising mortgage rates,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
Do you like this page?
