Choosing the Proper Water Heater

BY  ON JANUARY 4, 2019

Water heaters…those potential time-bombs in that flip you just bought or an aging old trustworthy friend in your basement.  However, if you ever need to replace one, what kind do you replace it with?  And, depending the age, they can consume an inordinate amount of energy!  So which one is best for your property?  The folks at The Home Depot put together this handy graphic to help comprehend and discover the best solution for your situation…..Happy Friday!!!


Hat Tip to The Home Depot.

Add your reaction Share

Pending Home Sales Down Slightly

BY  ON JANUARY 2, 2019

The National Association of Realtors is reporting that overall pending home sales declined 0.7% in November.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) declined to 101.4 in November.  However, year-over-year contract signings dropped 7.7%, making this the eleventh straight month of annual decreases.

“The latest decline in contract signings implies more short-term pullback in the housing sector and does not yet capture the impact of recent favorable conditions of mortgage rates,” Said Lawrence Yun, the NAR’s chief economist.

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

Add your reaction Share

Ten Hottest Housing Markets of 2019

BY  ON JANUARY 2, 2019

Where are the hottest housing markets going to be in 2019?  The folks over at have it covered for you.  Using data from the 100 largest markets they looked existing home sales & prices and the amount of new home construction. Then they analyzed each area’s local economy along with population trends, unemployment rates, median incomes, and several other factors.  Nationally, they predict that the number of overall home sales to decrease 2%, after years of steady climbs.  However they point out that these 10 cities have the potential to be overachievers in 2019.  Indeed…

“The diversity of these top markets suggests that real estate can thrive anywhere there is a strong local economy,” says Danielle Hale, chief economist of “While attracting younger individuals and families who are likely to be first-time buyers can be important, real estate can also thrive in sunny retirement communities.”

Their top 10 hottest cities are:

  1. Lakeland, FL
  2. Grand Rapids, MI
  3. El Paso, TX
  4. Chattanooga, TN
  5. Phoenix, AZ
  6. Bridgeport, CT
  7. Las Vegas, NV
  8. Boise, ID
  9. Miami, FL
  10. Boston, MA

Click here to read the full story on

Add your reaction Share

Redfin Says Housing Market will Continue to Cool in 2019

BY  ON DECEMBER 31, 2018

The chief economist for Redfin, Daryl Fairweather, recently discussed what she saw in the housing market for 2019 on CNBC’s “Power Lunch.”  Among her observations, the housing market will continue to “cool,” there will be higher rates of homeownership, less new construction and fewer real estate agents & lenders.  Indeed…


Click here to read thr full story at

Add your reaction Share

Yardi Says Rent Growth Remaining Exceptionally Consistent


According to the latest Yardi Matrix, U.S. multifamily rents increased in August, coming in at $1,472 with year-over-year growth coming in at 3.3%.  Yardi says multifamily rent growth has remained exceptionally consistent and has been at least 2.7% since the beginning of 2018.

Click here to read the full report at

Add your reaction Share

Foreclosure Activity Down


According to the latest market trends, ATTOM Data Solutions says there were 53,007 U.S. properties with foreclosure filings in August 2019, up 4% from July but down 24% from one year ago.  Their data show that nationwide, one in every 2,554 U.S. properties received a foreclosure filing during the month of August.  In addition, banks repossessed 11,493 properties in August (REO), which was up 4% from the previous month but down 47% from a year ago.

Click anywhere on the above map to make it interactive

Click here to read the full report at ATTOM Data.

Add your reaction Share

New-Home Price Data Reveals Affordability Problems


The NAHB’s Eye on Housing is reporting that there is a mismatch between the actual prices of new homes and the prices buyers expect to pay, which they say is further evidence of the growing problem of housing affordability.  Using data from the Census Bureau and HUD, the NAHB says that while the median sales price of single-family homes started in 2018 was under $322k their data (from the 2019 edition of What Home Buyers Really Want) show that the median price buyers expect to pay is around $254k.  Indeed…

“The reasons for this mismatch at the low end are not mysterious. Factors such as the ongoing shortages of labor and lots, and escalating regulatory costs  have made it difficult to impossible to produce a new home at these lower price ranges. This obviously is forcing a significant share of buyers into the market for existing homes only”

Click here to read the full report at the NAHB’s Eye on Housing.

Add your reaction Share

Workers Fleeing Big Cities for Smaller Ones and Taking Jobs with Them


We have seen this data pop up before.  People are moving away from expensive, high-tax, over-regulated states to places with overall better climates.  However, a recent story in the Wall Street Journal (reposted on takes a look at a trend among more-mobile workers who are moving to smaller cities and taking their jobs with them.

“One of the bummers is that they are not necessarily joining the workforce,” said Sheila Smith, a real-estate agent in Boise. Many of the out-of-town arrivals she sells to work from home or commute to jobs in distant cities, she said.

“People who do their jobs from home, freelance or constantly travel for work are migrating away from expensive urban centers such as Los Angeles and San Francisco toward cheaper cities including Boise; Denver; Austin, Texas; and Portland, Ore…”

Click here to read the full story at

Click here to read the full story at the Wall Street Journal.

Add your reaction Share

Local Market Monitor's National Economic Outlook for September



Local Market Monitor, a National REIA preferred vendor, recently released their National Economic Outlook for September, 2019 where they share their thoughts on developments taking place in the U.S. economy.


National Economic Outlook – September 2019

By Ingo Winzer

The number of jobs in August was up just 1.4 percent from last year, the smallest increase in the last two years, and down significantly from the 2 percent rate of January. Any further slowing will be the worst since the big recession.

That won’t necessarily lead to another recession – certainly not one of that epic scale – but the slowing of job growth in every major sector in the last few months suggests that an easy fix is not in the works because the economic problem is system-wide.

It’s much easier for the US economy to go into recession these days because it’s mainly a service economy. It’s easy for consumers to cut back on services if they feel a bit pinched. You need food, shelter, your car, your phone, some clothes – but you don’t need the extra latte, the extra movie, you can put off the trip to the Rockies, you might even delay that visit to the doctor.

Jobs in August were up 2.4 percent in healthcare, 2.1 percent in business services, 1.9 percent at restaurants, 1.3 percent in finance and 1 percent in manufacturing. Jobs were down in retail and almost flat in government.

Construction jobs increased 2.3 percent, not even half the 5 percent rate of January. A further slowing will mean that businesses are delaying new projects.

About the Author: Ingo Winzer is President of Local Market Monitor, and has analyzed real estate markets for more than 20 years. His views on real estate markets are often quoted in the national press and in 2005, he warned that many housing markets were dangerously over-priced. Previously, Ingo was a founder and Executive Vice President of First Research, an industry research company that was acquired by Dun and Bradstreet in March 2007. He is a graduate of MIT and holds an MBA in Finance from Boston University. He resides in Cambridge, Massachusetts.

Click here for more information about Local Market Monitor.

Add your reaction Share

Report Says Mortgage Closing Rates at Record High


According to their latest Origination Insight Report, Ellie Mae says that closing rates rose to a new high with the closing rate on all loans at 77%, up from 76.8% in June. Closing rates on purchases increased to 79.3% in July, up from 78.8% in June, while closing rates on refinances dropped slightly to 72.9% in July, down from 73.4% the month prior.  The average time to close was at 42 days in July, the average time to close a purchase dropped to 43 days and the time to close a refinance increased to 40 days.  Ellie Mae’s Origination Insight Report provides monthly data and insights from a robust sampling of closed loan applications that flow through Ellie Mae’s approximately 35% of U.S. mortgage applications.

Click here to download the full report at

Add your reaction Share