ABODO: Have Rent Prices Stabilized?

BY  ON OCTOBER 6, 2018

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in October dropped slightly to $1,020 (down 0.2%) with two-bedroom units coming in at $1,269 (down 2.7%).  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.

“The economy is hot, unemployment is low, and inflation is beginning a more rapid increase. All these factors lead us to believe that rents are not going to fall swiftly any time soon.”

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Total U.S. Construction Spending Up 6.5% from 2017

BY  ON OCTOBER 6, 2018

The U.S. government is reporting that total construction spending in August was estimated at $1,315.5 billion, which is 0.1% higher than July’s revised estimate and 6.5% higher than August, 2017.  Residential construction was at a seasonally adjusted annual rate of $548.9 billion in August, 0.7% below July’s revised estimate.

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Zumper’s National Rent Report for October

BY  ON OCTOBER 6, 2018

Rental information site Zumper recently released their National Rent Report for October showing that the median national rent for 1-bedroom apartment was $1,211 and the median two-bedroom rent was $1,443.  Year over year, both one and two bedroom prices are up 1.6% and 3%, respectively.  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.

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New Evidence Says Manufactured Homes Appreciate as well as Site-Built Homes

BY  ON OCTOBER 6, 2018

Here is another post that will make you look twice;  A new report from the Urban Institute says that manufactured homes appreciate as well as site-built homes.  They cite data from the Federal Housing Finance Agency (FHFA) MH Index showing that manufactured housing is 35-47% cheaper per square foot than site-built housing and that prices of the MH purchased by their GSEs perform similarly to those of site-built properties.

“The FHFA’s new MH index, still in the experimental stage, indicates that the prices of the MH purchased by the GSEs perform similarly to those of site-built properties…the index suggests a need to reevaluate the presumption that manufactured homes do not appreciate at the same rate as site-built homes.”

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Pending Home Sales Down 1.8%

BY  ON OCTOBER 6, 2018

The National Association of Realtors is reporting that overall pending home sales declined 1.8% in August and have now fallen on an annual basis for eight consecutive months.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) declined to 104.2 in August as well as reporting that contract signings are down 2.3% year-over-year.  The Realtors say once again that low inventory continues to contribute to the housing market’s slowdown.  However, take note of the regional differences in the chart below

“Pending home sales continued a slow drip downward, with the fourth month over month decline in the past five months…Contract signings also fell backward again last month…” Said Lawrence Yun, the NAR’s chief economist.

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American Community Survey Data Wheel

BY  ON SEPTEMBER 30, 2018

Are you looking for current & important data about a particular area?  If so, the Census Bureau’s American Community Survey is the premier source for information about America’s changing population, housing and workforce.  They recently put together this interactive graphic where you can find your state, drill down to a major city and let the data flow in…Happy Friday!!

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Are Nuclear Bunkers a New Real Estate Craze?

BY  ON SEPTEMBER 30, 2018

Last year we posted about a former cold-war missile silo that had been listed on Airbnb…now we’ve come across a story about how bomb shelters (albeit modern ones) are possibly making a comeback.  A recent story on tech site CNET visits a California company called Atlas that makes specially designed shelters that consumers can buy and install – in this case the Bombnado.  Prices start at $19k for the basic bunker that is about 8-by-8 ft., with a bed, toilet and an air filter.  You have to admit, these are pretty cool.  The company kitchen bunkers, garage bunkers, wine bunkers (with hidden entrance), tornado, you name it.

“Now there’s second boom (no pun intended) in demand, fueled by rising political tensions; worsening wildfire, tornado and hurricane seasons; and fears of terror attacks. Atlas Survival Shelters told Germany’s Die Welt newspaper that it sold 1,000 shelters in 2017…”

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

Click here to learn about the Bombnado at nadoseries.com.

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Renting to Tenants who have been Recently Incarcerated

BY  ON SEPTEMBER 30, 2018

RPOA’s Rental Property OWNER & Real Estate INVESTOR Podcast hosted by Brian Hamrick

In a recent RPOA podcast, Brian Hamrick takes a hard look at renting to tenants who have been recently incarcerated.  This is an important subject to address – especially in today’s tight housing market where landlords can be much more selective in who they rent their properties to.  Because of this situation, there are certain groups of tenants that are finding it more and more difficult to find affordable housing.  The episode features a round-table discussion, where they gathered several guests (from various groups and organizations) to share their perspectives on this controversial issue.

 

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Report Says Nearly Half of Cellphone Calls will be Scams in 2019

 

 

 

For many readers, this is already a common problem and unfortunately it’s caused many to simply ignore unfamiliar numbers.  Technology site is CNET is reportingabout a recent study that predicts nearly half of mobile phone calls in 2019 will be scams. The report, from First Orion, says that the percentage of scam calls in US mobile traffic increased from 3.7% in 2017  to 29.2%  this year and they predict it will rise to 44.6% in 2019.  The data was revealed in First Orion’s inaugural 2018 Scam Call Trends and Projections Report.  Stay tuned….this isn’t going to be pretty and it will need to be solved.  So much for that “do not call” list.

“The most popular method scammers use to try to get people to pick up the phone is called “neighborhood spoofing,” where they disguise their numbers with a local prefix so people presume the calls are safe to pick up, First Orion said. Third-party call blocking apps may help protect consumers from known scam numbers, but they can’t tell if a scammer hijacks someone’s number and uses it for scam calls.”

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

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HouseCanary’s Q2 Rental Index

BY  ON SEPTEMBER 30, 2018

 

HouseCanary is reporting that at the end of the Q2 2018, their Canary Rental Index (CRI) showed a national median rental yield of 8.41%, down 0.19 percentage points from the end of the first quarter of 2018, when the national median rental yield was 8.60%.  They attribute this to shrinking rental yields that’s been evident since at least July of 2013, when the national median rental yield almost hit double digits at 9.80%.  In other words, investors who bought homes in June 2018 could expect a median return on investment of 8.41% nationwide; return on investment is higher in half the states and lower in half the states they analyzed. This is slightly lower than the median rental yield at the end of March 2018.

The national median rental price per square foot was 94 cents at the end of Q2 2018, and the median national rental price was $1,695. The national median home value in Q2 2018 was $217,400 in Q2 2018; this includes all single-family properties, including single-family homes, condos, and townhomes.  They say that despite the trend of ever-smaller national median rental yields, there are still plenty of areas in the country where rental yield was in the double digits and grew in Q2 2018 instead of shrinking. In this report, they looked specifically at states and MSAs in Appalachia to provide some examples.

The Canary Rental Index (CRI) is HouseCanary’s pulse check of the rental market across the country. They look at home prices, rental returns, and other relevant metrics nationally and in each market to determine rental yield for real estate investors, then we release the CRI data online so users can see it and leverage it.

HouseCanary provides the most accurate and comprehensive data platform in the real estate industry today. It is used and trusted by some of the biggest brands in real estate and financial services. National REIA members can get ten free reports when they sign up through a special portal on Uniting Investors.

 

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