El Paso Investors Club

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in September slightly rose 0.86% to $1,022 (still down year to date) with two-bedroom units coming in at $1,294 (up 3.19% year to date).  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.

“…As the Fed continues to raise interest rates, however, and the economy continues to heat up; while unemployment is low, and the single-family home shortage shows no signs of abatement, it follows that both one and two-bedroom unit prices will continue, on average, to rise.”

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

We’ve had a lot of posts about the lucrative student housing market and its “evergreen” potential. To that end,  a recent report from Homes.com looked at 150 college towns from across the nation to come up with their “2018’s Best College Towns & Cities in America.”  In it, they examined data about the average purchase price and monthly rent of a 3-bedroom home in each location, sourced from listings on Homes.com.  Then, they revealed the college towns and cities they think you should consider as a landlord to ensure the highest yield and return on your investment.  If you already own or are thinking about entering this segment of the market, this report is worth a look.

Click here to read the full report.

Rental information site Zumper recently released their National Rent Report for September showing that the median national rent for 1-bedroom apartment came in at $1,209 and the median two-bedroom rent was $1,447.  Year over year, both one and two bedroom prices are up 2.2% and 3.2%, 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.

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

New data from the U.S. Department of Commerce’s Bureau of Economic Analysis report that personal income increased 0.3% in July.  In addition, wages & salaries, the largest component of personal income, increased 0.4% in July, the same increase as in June.

“The increase in personal income in July primarily reflected increases in wages and salaries, personal dividend income, and rental income”

Click here to read the full report at the U.S. Bureau of Economic Analysis.

According to the latest CoreLogic MarketPulse Report;  The foreclosure rate is back to its “pre-crisis” Level with judicial states continuing to have higher foreclosure & serious delinquency rates, refinancing among rising rates shows homeowners are more likely to choose cash-out and longer term and highlights from their Home Price Index.  CoreLogic’s MarketPulse provides monthly insight into the current and future health of the U.S. economic climate with particular focus on housing and mortgage metrics.

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

According to the latest ATTOM Data Solutions U.S. Foreclosure Market Report, year-over-year foreclosure starts increased in 44% in 96 of the 219 metropolitan statistical areas (44%) analyzed for the report.  There are a total of 30,187 U.S. properties that started the foreclosure process for the first time in July, which is up 1% from June and up less than 1% from 2017.  ATTOM says this represents the first year-over-year increase in foreclosure starts nationwide following 36 consecutive months of year-over-year decreases.  In addition, twenty-one states posted a year-over-year increase in foreclosure starts in July, including Florida (up 35%); California (up 3%); Texas (up 7%); Illinois (up 7%); and Ohio (up 2%).

“…Gradually loosening lending standards over the past few years have introduced a modicum of risk back into the housing market, and that additional risk is resulting in rising foreclosure starts in a diverse set of markets across the country…”  Said Daren Blomquist, senior vice president with ATTOM Data Solutions. 

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

Just as we’ve had several posts about keeping an eye on the millennial generation, we also need to be watching that other elusive group, baby boomers (those born between 1946 & 1964).   A recent report by Fannie Mae and the University of Southern California says in the coming years boomers will be exiting the homeownership arena as they become renters, move to care facilities or even die.  They note that boomers currently inhabit 46 million owner-occupied homes that are worth an estimated $13.5 trillion.  For their report, they analyzed the attrition rates of past generations of older homeowners and used their findings to project future homeownership exits by this aging cohort.

“With the oldest Boomers now in their early 70s, the beginning of a mass homeownership exodus looms on the horizon, fueling fears of a “generational housing bubble” in which homeownership demand from younger generations is insufficient to fill the void left by multitudes of departing older owners.”

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

In a recent episode of Real Estate News for Investors, Kathy Fettke discusses how Landlords in Portland (Oregon) and Seattle are being “choked” by new & proposed rental laws.  Portland landlords are gearing up for a fight over legislation that would limit their use of an applicant’s criminal history as well as a proposal to reduce income and security deposit requirements.  In Seattle, the city is facing a lawsuit over a more stringent version of those rules that were passed last year, and went into effect in February.  The bottom-line here is that what starts on the coasts could spread inward…unless it’s stopped.

Kathy Fettke is the Co-Founder and Co-CEO of Real Wealth Network and is passionate about researching and then sharing the most important information about real estate, market cycles and the economy. She’s author of the #1 best-seller, Retire Rich with Rentals, Kathy is a frequent guest expert on such media as CNN, CNBC, Fox News, NPR and CBS.  Her podcasts are a good one to have on your playlist.

Click here to read the transcript on RealWealthNetwork.com.

Is that rehab project worth it?  That’s the proverbial million-dollar question.  Today’s infographic from leading self-directed IRA custodian Equity Trust Company takes a look at several rehab projects and how much ROI they bring back (per Remodeling Magazine’s 2018 Cost vs value Report).  As we’ve seen before, adding a deck and a new front door tops the list….Happy Friday!

Hat tip to Equity Trust.