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.
California Rent Control Expansion Defeated
BY BRAD BECKETT ON NOVEMBER 9, 2018
A closely watched ballot initiative in California was defeated in November’s election. Proposition 10 would have allowed cities to expand rent control by allowing local governments to set rent control policies for their cities, contrary to current law – which was upheld by the failure of Proposition 10. According to the SF Chronicle, the measure was placed on the ballot by tenant advocates who had failed for years to persuade the CA state legislature to curb rising rent. Indeed….How restricting supply and hamstringing landlords would lower rent prices is beyond our comprehension abilities. Then again this is California, and sometimes they do overreach with their goofy ballot initiatives.
“Opponents, led by the California Apartment Association, developers and property managers, spent $74 million to convince voters that developers would cut back on construction if rent control spread. Proponents raised $26 million, nearly all from the AIDS Healthcare Foundation.”
Is Creative Financing the Solution You’ve Been Looking For?
BY WHITNEY NICELY ON NOVEMBER 9, 2018
When I first got started in real estate I kind of had no idea what I was doing. I jumped in whole honcho, spent every dime of my life savings, was even able to get my brother to give me his too, bought houses, made sales, and went flat broke. It took that hard knock for me to realize that there had to be another way of doing real estate. I needed a method that let me keep my money (and let my brother keep his…), and did not require for me to take out a mortgage. Enter creative financing….
It was not too long after I hit the wall that a fellow investor took my under his wing. He invited me to come to one of his seminars, which was a real stretch for me with the $75 price tag, but I went anyway. It was there that my eyes were opened. I started learning about all sorts of ways to finance properties that I had never heard before: lease options, seller financing, private money lenders, wholesaling, and on the list goes. I had no idea that this whole other world even existed! Maybe you are in a similar situation. If so, there are three great options to check out to get you started.
#1 Seller Financing: Instead of working the traditional path of finding houses that currently have a mortgage, focus your efforts on the houses that are likely free and clear. Ideally, the current owner pays nothing on the property except for property taxes. This means that there is an excellent opportunity that you can work out a deal with the seller where they act as the lender and you pay them every month to ultimately pay off the agreed upon amount in a predetermined period of time. THIS IS GOLD!!!
#2 Lease Options/Rent-to-Own: This is a technique for your buyer, which is excellent if they are not sure whether or not they really want to buy the house just yet (or are not able to secure a mortgage loan). When worked out in union with seller financing, the buyer’s agreement with you will ultimately pay for your monthly amount to the seller, and then some.
#3 Wholesaling: This option really allows you to remain fairly hands off from the whole transaction. You find the deal (a motivated seller), you make the deal, but then you find another end-buyer investor who wants to close the deal. Then, you get paid a “finder’s fee,” of sorts, for your work and trouble. This can be whatever you decide, but it’s usually a few thousand dollars or more. The best part – you never actually own the property.
When I learned about creative financing, it turned around my entire experience with real estate. I went from flat broke to making over $140,000 in the next 9 months with only 14 sales! This is why I am so passionate about teaching other women all about creative financing with First Deal Done Fast. I LOVE seeing the wheels starting to churn and the light bulbs turning on.
When you’re ready to learn about creative financing keep in mind that there are a whole bunch of other ways to get creative. Start studying and researching what options exist. Make sure you are aware of your states laws and regulations. Get knowledgeable and informed, always. Find seminars, conferences, and courses to teach you what you need to know. Then, get to work. Whichever one you choose and sounds right for you, this is always the path for success. It cannot be skipped, nor glossed over. Learn, learn, learn, and action. Wash, rinse, repeat. Now, get to it!
Whitney Nicely rejected the southern girl path of working at her family’s trucking business and embraced the life of an investor. Her first nine months made her over $140,000, and set her on the path to empowering other women to break into the real estate “good ole boys club” and break down barriers while making some serious cash. If you’d like to get started, or want to find out more about what I teach, click here to set up a time to chat or visit WhitneyNicely.com to learn more.
