You're welcome to Join us at MassRealEstate.net & NewHampshireREIA.org for Only $99/year and receive all Home Depot Benefits: 2% CashBack on ALL Purchases, 20% off ALL Liquid paint, at the cash register checkout, Access to the Bid Room with purchases over $1500. (usually 7-50% off) and a special Appliance catalogue.
#97 North Main Street (Route 114 West), Middleton, MA 01949-1750
Tonight, Tuesday, August 31, 2021 5:30-8pm we’re very fortunate to have our monthly meeting at a Killer Project that Mike D has put together
Even better, he’s agreed to meet with us and disclose Everything from How he found this deal and partners? What happened with Permits? How the Construction costs changed, especially materials?
By the way, I’ll share Home Depots secret on how to get THE best prices!
How Mike chose a particular design?
And how he’s been marketing the project (15 Brand New units retailing at $700-900k) but, of course there are only 3 left!
Marco’s Restaurante #2 is just up the street in Middleton and he’s always glad to provide his Special Pizzas for us his Friends!
I look forward to see you This evening 5:30-8pm No charge to Members, Only $25/guests OR Only $99/year to join!
IF a Hurricane is Coming:
To-Dos for Before and After
Before The Storm
After The Storm
If you have flood insurance, you will need to prove your loss to the adjuster representing FEMA (Federal Emergency Management Agency). If not, you may be able to obtain some FEMA benefits and/or deduct your loss on your taxes (consult with your accountant to make sure). Regardless of whether or not you have flood insurance, you should follow these steps.
If you have flood insurance for your personal property (contents), unless it is necessary, don’t throw anything out until the adjuster sees it. Then, don’t throw it out until you have agreed on a price. (Keep the contents in the back yard under a tarp, if necessary until the claim is settled.) If items are perishable and have to be discarded, photograph them in detail (front, back, etc.) including close-ups of serial and model numbers. Make a list of all the damaged items: description, quantity, age, replacement cost.
You must file a “Proof of Loss”, a document stating the amount of your loss, within 60-days after the loss. The adjuster may help you fill it out, but you are responsible to meet that deadline, unless the government extends it.
If this seems overwhelming, you could consider hiring a Public Adjuster, a professional who will represent your interests in this process. A Public Adjuster is paid a percentage of the claim and does not charge any money until you are paid. A good Public Adjuster will more than earn his/her fee by obtaining payments far in excess of what you would receive on your own and ensure that you receive everything you are entitled to. A Public Adjuster is different from your insurance company’s adjuster in that they work for you, not the insurance company.
We work very hard for you, to ensure the most complete and detailed claim, and the largest settlement for your loss. Here’s more information, about how we work.
One of our long time Members (and famous Real Estate Brokers) Carl, won the Door Prize - a Brand New 4 Burner, propane, BBQ grille donated by our partners at Home Depot!!!
***NEXT MEETING - Tuesday, July 27, 2021 6:30-9pm IN-PERSON:
shown here with Mike Hurney!
Door Prize - "Home Depot 4 Burner BBQ"
and 2nd prize Behrs Newest Super Paint - Dynasty 2 gallons!
Voice Mail that went out this morning:
Our next meeting is tomorrow evening Tuesday, July 27, 2021 6:30-9pm
This is especially important, because it’s our first IN-PERSON meeting since we were hit with the Pandemic over a year and a half ago.
Our Governor Baker has lifted all restrictions since May 30, 2021 and you guys have been clamoring for the popular in person networking.
Zoom was fine but let’s get back together.
I’ll guarantee your work or projects will be doing better after tomorrow evening, if you decide to use the valuable information you’ll receive!
We’ve invited our most popular speakers to set up small groups for discussions, then every 15-20 minutes you’re invited to move to the next expert.
Marco’s firing up his Pizza oven for us and Peter our Host will share his latest top of the line - Kitchens, Baths & Flooring!
We’ll hear from the Top Real Estate Broker
Contractors Steve and Rich
Big Time Investors Mike and Mark could be there.
Asset Protection Attorney Jon
Closing Attorneys David and Robert
Staging, Home Inspector & Smoke Guy are Maybes…
& the Junk Yard Dog of Eviction Attorneys Rick!
And of Course YOU
We’ll also be able to look at the Latest Listing Systems for your new Leads
And a Review of the Generous Home Depot Benefits our Members receive!
It’s ironic that some folks were hard hit but others have Cranked up their Businesses, Helped others and THRIVED! You’ll see Who and How!
47 Newbury Street, Route 1 North, Peabody, MA 01960 just before Sonic Carhop
No Charge to Members, You are welcome to Bring a Guest at No Charge (Only to this meeting), All Others Only $25/meeting and Only $99/year to join!
I look forward to see you there, Mike Hurney, Director!
Home Depot Benefits!
When you "JOIN NOW" (button above) or RENEW for only $99/year!
* 2% Rebate Program - (Above all other discounts that you are already receiving from the Home Depot.)
* 20% off Paint at the check out register.
* Up to 25% discount on the selected Appliances, you need!
* Access to the "Bid Room" on purchases of over $1500 (usually 7-50% off)
***1. Meeting 7/29, 2. Peter's Flooring Specials, 3. Water damage.
1. Tuesday, July 29, 2021 we'll return to an IN-PERSON meeting at Peter's DesignGroup47.com 47 Newbury Street, Peabody, MA 01960
We're using the format from our highest attended and rated, meeting 2 years ago - Local Experts! We'll identify several different EXPERTS from our membership that'll share their Expertise with us. 15 minutes later, you move to the next table, etc.
Real Estate Brokers
Insurance Loss Adjusters
Asset Protection Attorneys
RE Closing Attorneys
Peter's special pricing top quality Flooring!
Also Refreshments & Home Depot!
If you need help with something, even ideas, don't miss this! If you're a Know-it-All, how about sharing some success or just networking. Don't forget, "No one wo/man can do it All!"
We've missed you during this Kung Flu Epidemic, although I've gotten together with many of you guys. And we may not even recognize each other;-) so we've got name tags.
2. Peter, our host, has great Flooring Specials, give him a quick call... 617-293-8397
Vinyl: Cali bamboo Spc 20mm, 3 colors in stock $2.19, Engineered 7 1/2" walnut $4.35, Tile in Stock 6x18 subway $1.89 and plenty more!
3. Water Damage? What did we get last week, 5 inches of rain from the Hurricane Elsa remnants and a Nor'easter? Be careful about filing a claim... You may not want your first call to be to your insurance companies recorded line…you might not be covered for groundwater and only rain water, which they’ll then list on YOUR dreaded CLUE Report!
There's also a couple of things YOU can do to mitigate basement flooding from our Expert Plumber -
"A. Downspouts should empty to at least 3’ from your house or the soil should be pitched to convey that water away.
B. The soil around your foundation should be solid and direct that rain water away. All too often there’s a build up of leaves against the foundation that absorbs the water and passes it below to seep into the basement.
when all else fails -( C. There’s a squeegee attachment for your shop vac that’ll pick up water that's not making it to your Sump, saving your towels and hands!"
I look forward to see you, Tuesday July 29 6:30-9pm for this very special meeting.
Mike Hurney, Director, MassRealEstate.net & NewHampshireREIA.org PO Box 307, Marblehead, MA 01945
This evening Friday, July 2, 2021 6:30-8pm Movers & Shakers:
Admission FREE ($5.00 donation for non-Members to cover our tip) Coffee (or soft drinks) and a wrap (turkey, veggie or buffalo chicken) Kelly's Roast Beef 165 Endicott Street, Danvers, MA 01923 978-774-1897 6:30-8pm PM BEGINNING/INTERMEDIATE Real Estate Investors Review Basic Selling. Where to Invest? Which deals can move your career along the quickest?
We'll then use a roundtable format where each person can pose a dilemma, tell us of a recent success or pass to the next person.
Hosted by Mike Hurney, Author of "How to Become a Real Estate Investor in 12 Easy Lessons"
See you there! Mike
America is 245 Years Strong!
This Sunday, July 4th, marks 245 years of America’s independence! Today’s infographic takes a look at the 4th of July “by the numbers” to provide some insight about this holiday we Americans hold dear. Whatever you do to celebrate, do it safely and have fun…..and, as for today, Stay safe and have a Happy Friday!!!
“On July 2nd, 1776, the Continental Congress voted in favor of independence, and two days later delegates from the 13 colonies adopted the Declaration of Independence, a historic document drafted by Thomas Jefferson. From 1776 to the present day, July 4th has been celebrated as the birth of American independence, with festivities ranging from fireworks, parades and concerts to more casual family gatherings and barbecues.” History.com.
Key Trends from Remodeling Magazine’s 2021 Cost vs Value Report
The release by Zonda of the 34th annual Cost vs. Value report finds exterior improvement projects continuing a multiyear trend of providing the greatest return on investment (ROI) for homeowners. Indeed, 11 out of the 12 projects with the highest ROI were exterior improvements. At the top is the replacement garage door (No. 1), sidings (including manufactured stone veneer at No. 2), and windows. The indoor exception, sitting at No. 3, is the minor kitchen remodel – a modest face lift of kitchen surfaces that offers a relatively high return when done prior to the sale of a house.
The trend of exterior replacements outperforming larger discretionary remodeling projects has been accelerated, no doubt, by a year in which COVID has made people reluctant to have contractors inside their homes, but yearning to improve outdoor spaces. It’s been a year when we’d expect decks to reign supreme, but the data doesn’t track what’s most popular. The Cost vs. Value report tracks the ratio of value over cost for 22 common remodeling projects, and in that ratio lies the rub: Material costs, especially for decking and pressure-treated framing lumber, started going through the roof in 2020, bringing down the return despite the project’s value.
The effect on ROI of rising material costs is shown across the board for all projects, with the ROI for all projects down an average of 3 percentage points. The wood deck project shows the greatest decrease in ROI (-10.3%) and the highest increase in material costs (+13.6%).
A look at yearly trends (see chart below) shows that project costs have risen consistently since 2014, with a sharp increase in costs in the last year brought on by supply-chain disruptions largely created by the pandemic but complicated by global trading tariffs. Mirroring the increase in costs, the value-over-cost ratio as a percentage has steadily declined over the same period, with the sharpest decline (-3.7%) in the last decade occurring in 2020 (compare to a decrease of -2.4% for the year before).
These trends are based on the national averages for 15 projects that have appeared in the Cost vs. Value report over the last 13 years.
The Focus on Home Sale Price
The Cost vs. Value report aims at a very specific question: What value does a particular remodeling project add to the sale price of a home? This is only one kind of value that homes can provide, but it proves to be an important assessment.
The value data in the report was derived in prior years from surveys of real estate professionals asked to rate the value of the 22 projects. For 2021, Zonda has revamped the report's methodology, providing an econometric model that overcomes a past problem of surveying enough real estate professionals. Built onto the survey results, the new model sifts in a range of other variables, including local GDP, housing starts, existing home sales, existing home values, changes in existing home sales and existing home values, among others. What's important to grasp here is that all of these are variables that influence the sale price of homes in a specific location, and that is what defines the value side of the calculated ROI.
"Location, location, location" we know as the first principle of real estate, and the Cost vs. Value report addresses this by providing data for 150 metro areas (up from 100 last year). New for 2021, the report also allows users to drill down to data at the ZIP code level within each metro area covered to get a more fine-grained view of how costs and values differ on a local basis.
If we begin to think a bit more like a real estate professional, we begin to grasp how to fully understand Cost vs. Value.
Exterior projects. To begin with, it helps explain why exterior projects retain their strong return on investment: “Curb appeal” and “first impressions” are strong concepts in real estate because they have a big impact on how much money prospective home buyers are willing to pay for a home. If they start out thinking the house looks good - is in good shape, has "good bones" - they begin to fit all the new information they learn once they walk through the front door around these positive impressions. The reverse - driving up and seeing a dilapidated garage door or a house in need of a paint job - has the reverse effect: Buyers start to downgrade what they are willing to pay for it. While these impressions are highly subjective, they tend to influence buyers in a remarkably consistent ways.
Discretionary projects. While still returning a decent return on investment, the larger discretionary projects, such as kitchen, bath, and master-suite remodels, tend to have a lower impact on the price of a home. These projects typically involve a number of product options that have strong appeal to the client making the selections but tend to be too individualized to provide broad appeal. There is no one best cabinet style or color, no perfect tile, or fixture design that everyone likes. Certainly, there are design trends that have wide appeal among a range of homeowners. But because of the vast differences in aesthetic tastes, real estate brokers know that one person’s elegant new kitchen or bath may be viewed by other prospective buyers as unappealing, overstated, or otherwise in need of a reset.
Get the Conversation Started
Building professionals are focused on a lot more than resale value when they begin discussing a project budget with prospective clients. Pride in design and craftsmanship, occupant health and safety, long-term durability of materials, reductions in liability, and potential for repeat business are all top of mind for the professional remodeler entering into a new project. But all these factors, and the different values attached to them, are not necessarily understood by clients.
Cost vs. Value serves to get the conversation started. By focusing first on the value of the client's investment, defining it the way a broker might, a remodeler can zero-in on a client's biggest anxiety, cost. Instead of leading with their costs, they can first deliver a generalized cost that demonstrates that the project they are considering will have a definite return. Once that’s established, the contractor can go on to show the client how to think like a remodeler, raising the client's understanding and appreciation of the total value of a company's work. And finally the remodeler can move the conversation forward to reveal the specific costs they have for the project at hand.
The cost data in the Cost vs. Value report does include a standard mark-up of 10% on materials and 10% on labor. This is a starting point. It may be considered low by many contractors who build high value into their work with things like a well-paid workforce that receives good benefits to ensure that a high level of dedicated, skilled, and trust-worthy talent will be working on the project. Those are the sort of details that contractors will discuss with clients as they work to broaden the definition of home value, and distinguish their company as the best one to complete the project.
Here’s the last call for Max Keller’s Replay & Limited Opportunity to join us at the end:And there’s an opportunity to work with Max at a very discounted rate BUT wait, we’re adding a $99 bonus* when you purchase Max’s program and join us Monday for an Intro/Start to his system!!!You need to, at the very least, watch this replay which will give you insight to what’s coming in Real Estate:In this short video replay…(times are shown where these important points are)#At (2:41) he’ll show how Wall Street with large companies has purchased 147,000 Single Family homes, and you’ll definitely recognize these companies…By the end of 2021 they’ll be acquiring 100,000 houses/year, which is a disaster for traditional buyers!!! Zillow plans to be buying 5,000/houses/month becoming a $20,000,000,000.00 Business!Based on Zillow's 157 million Unique Visitors per year, this seems entirely possible!!! Their average Profit on their Single Family acquisitions is $1723/house Can you compete against this thin margin?A Disruption on the Real Estate business IS COMING! Even though there’s 2 million licensed Real Estate Brokers in the U.S.#Max has a simple formula (14:20)Good ProfitMinimum resistance???Replay & Limited Opportunity at the end:#The demographic Max is working with (16:23) is Slow to Trust but Very Loyal!. It’s the fastest growing demographic…, There are 4,000. folks turning 85 years old every day in the US and 10,000 turning 65 every day:-0 and by 2030 there will be more folks over 65 than under 18!#Remember 20 + years ago when there were these shark-like Stock Brokers? (24:01) no more, now they’re all Financial Planners. Get ready for a similar disruption in the Residential Real Estate Market when these Hedge Funds and similar companies like Zillow will transact with Software and low margins.#(38:16) Why we now SHOW the lowest Single Family inventory since 1982?#And (43:26) where Max outlines his Very Successful Program, where he’s looking forward to work with you and I.Bottom line, here’s what’s happening - which you may or may not be aware of, as a Huge industry we know a lot about, is getting Hugely Disrupted!Replay and limited Opportunity at the end:We look forward to see you on Max's implementation call Monday!Mike Hurney, MassRealEstate dot net and NewHampshireREAI dot org PO Box 307, Marblehead, MA 01945* We’ll extend or start your valuable membership, by 12 months ($99.) in MassRealEstate.net & NewHampshireREIA.org when you sign up for Max's program!!**any questions with the Replay or Sign-up, you're welcome to email me ASAP, Mike
Lincoln Hurney is inviting you to a scheduled Zoom meeting.
Topic: MREIA June Meeting - 6.29.21
Time: Jun 29, 2021 06:30 PM Eastern Time (US and Canada)
Join Zoom Meeting
Meeting ID: 771 299 1667
Short video preview of Max Keller "You're the Expert"
I look forward to see you there!
New Home Sales Decline Due to Higher Costs
After a significant downward revision for the preliminary March data, April recorded a decline of 5.9% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. The April seasonally adjusted annual rate (863k) was the lowest since June 2020, with the exception of a weather-influenced February report.
Residential demand continues to be supported by low interest rates, a renewed consumer focus on the importance of housing, and solid demand in lower-density markets like suburbs and exurbs. However, higher building costs, longer delivery times, and general unpredictability in the residential construction supply-chain are now having measurable impacts on new home prices. In April, the median price of a newly-built home was 20% higher than a year ago, at $372,400. As NAHB has estimated, higher lumber costs alone are increasing new home prices by $36,000 on average.
Higher costs have priced out buyers, particularly at the lower end of the market. A year ago, 45% of new home sales were priced below $300,000. In April 2021, only 27% of new home sales were priced below $300,000.
Looking back to the spring of last year, the April 2020 data (570,000 annualized pace) marks the low point of sales for the 2020 recession. The April 2020 rate was 26% lower than the prior peak, pre-recession rate set in January. Sales then mounted a historic surge from April until July, outpacing gains in actual construction. Sales have been above the pace of the post-Great Recession trend since the second half of last year. However, since January the trend has been declining and approaching the prior long-run growth trend (as indicated by the blue dashed line in the graph above).
Sales-adjusted inventory levels remained lean in April, coming in at a 4.4 months’ supply.
Completed ready-to-occupy homes continue to fall as a share of new home inventory. Such homes were 24% of inventory a year ago. They are only a little more than 11% of the total in April 2021.
Moreover, to see how sales patterns have changed in a high demand, low supply market — a year ago, 42% of new home sales were completed construction. In Apr 2021, this share has fallen to 27%. A year ago, 21% of new home sales had not started construction yet. In April 2021, such speculative homes represented 38% of sales contracts.
Regionally on a year-to-date basis new home sales rose in all four regions, up 50.7% in the Northeast, 45.7% in the Midwest, 45.5% in the South, and 3.6% in the West. These significant increases are due in part to lower sales volume during the Covid crisis a year ago.
How Media Consumption Has Changed Over the Last Decade (2011-2021)
Media Consumption in 2021
There are a wide array of apps and life hacks out there designed to help regulate personal internet use and media consumption, but the data suggests they haven’t been working. Today, we consume more media than at any point in time in the last decade.
This data from Recode looks at how many minutes U.S. adults spend on various forms of media, comparing mobile, desktop, radio, television, and magazines.
How Many Minutes are Spent on Media?
In 2021, collective media consumption continues its upward trajectory, and is set to be at the highest it’s ever been. In 2021, overall media consumption among U.S. adults is estimated to be around 666 minutes per day, or 11.1 hours—a 20.2% increase from 2011.
Although media consumption has grown overall, this is predominantly driven by mobile usage. In fact, every category with the exception of mobile has shrunk from their respective peaks. Mobile on the other hand, has grown a whopping 460% in 10 years, from an average daily use of 45 minutes to a staggering 252 minutes.
Consumption by Generation
Disparities in media consumption have a generational aspect that’s worth noting, as well. For instance, older Americans like Baby Boomers still consume media routinely through television. On the other hand, younger cohorts like Millennials and Gen Z tend to consume more through mobile.
Increasing internet use has come with criticism, and is said to be partially responsible for our waning attention spans. With only 1,440 minutes in a day, it remains unknown exactly how many minutes we will continue to direct towards mobile use. But with figures growing 9% last year, we may not have yet reached the peak.
Massachusetts Real Estate Investors Association
PO Box 307, Marblehead, MA 01945, USA
Mike Hurney is inviting you to a scheduled Zoom meeting.
Time to Sell? Tenant Problems? Opportunity. Kitchen & SF Bld Permit, YOU?
Wednesday May 26, 2021 06:30 PM Eastern Time (US and Canada)
Join Zoom Meeting
Meeting ID: 851 0118 8287
1. Quick Update on the Market. AND if you've been thinking about Selling a home, NOW IS THE TIME! When Demand is still High and Inventory is Low, there is an abundance of buyers looking for a home just like yours. Sellers are Selling Fast and for Top Dollar. You're welcome to contact [email protected] for a Complimentary Market Analysis of your Home.
Also, when you're looking at a new "Farm" (area, City/Town to invest in) it's important to identify the fastest moving "bracket" of Properties, who wants to get into a project that takes years to turn around? OR Worse one that takes longer than a year to Sell?? We'll quickly analyze two areas so you'll see where to spend your time and effort. Want YOUR area analyzed also? Send me a quick email ASAP (not 5 minutes before our Wednesday, 5/26 6:30-9pm meeting;-) Mike
2. CDC Moratorium on Evictions is on, Extended, Unconstitutional, Knocked Down by a Federal Court, It's Extended & Extended, Confused? You won't be for long with...
The JunkYard Dog of Eviction Attorneys will Show us How he's helping MANY Landlords Solve this Problem Expeditiously and to everyones satisfaction. You know from the past that Attorney Rick is a Professional who focuses with Brevity on Success! Whether you're a Landlord, Tenant or Investor (who may go to Plan B - Rent instead of Selling...) you don't want to miss his Presentation.
3. I'm still convinced this Niche, Investing in Mobile Home Parks, is one of the best CashFlow opportunities. There's a BootCamp coming up June 4-6, 2021 where you're welcome to join me, with a significant discount for our Members! Mike
4. Then we'll do a Deep Dive into Construction Materials: Current Prices, Where they're headed & Most importantly ALTERNATIVES!
5. An update on a Kitchen we're UpGrading in Salem and what's happening with that Single family we've been starting in West Roxbury.
6. If time permits what have YOU been up to, any offerings or requests (Buy/Sell & Networking)? Actually, if you've got something HOT (Pending P&S that's in trouble? How to estimate an offer (No addresses please, unless you're under Contract) call/email us right away or interrupt on the Call Wednesday!
I look forward to see you! On-Line next WEDNESDAY, May 26, 2021 6:30-9pm
Mike Hurney, Director, MassRealEstate dot net & NewHampshireREIA dot org PO Box 307, Marblehead, MA 01945
PS Folks, NO BS, Check your Home Depot account and Maintain your MassRealEstate dot net & NewHampshireREIA dot org Membership, still only $99/year. Home Depot audits us OFTEN and if your Membership with us expires = Your discounts are GONE!!! Email me directly with any concerns, Thanks, [email protected]
5/7/21 Kris has determined, with an Algorithm, what the sale price will be for Real Estate Properties on the Market. She's also targeted great investment opportunities in Massachusetts, outside of Boston. Tomorrow evening Friday, May 7, 6:30-8pm she'll teach YOU this information and more importantly, How to Use it! We'll meet LIVE at Kelly's Roast Beef, 165 Endicott Street, Danvers MA 01923 Light refreshments and soft drinks provided. Only $5. for non-members (tip for our waitstaff). ALL State Covid-19 Protocols will be followed! I look forward to see you there for Lincoln's Market Update, Kris's Algorithm
Mobile Home Parks, the Forgotten Niche with... Frank Rolfe
Find out why Mobile Home Parks offer perhaps the highest and safest returns of any sector of Real Estate.
As a Real Estate professional, have you thought of dabbling in Mobile Home Parks instead of Single or Multi Family homes? If you're unsure if that's even possible MassRealEstate.net main Meeting is for you! Click the link below and join us at 6:30pm
Mobile Home Park Investing - guide
Yardi Says 2021 Off to a Strong Start. According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in March increased $6 to $1,407. In addition, Yardi says multifamily rents had one of the strongest first quarters in the last few years. Click here to read more.
NMHC Says 79.8% of Apartment Households Paid Rent by April 6th
The National Multifamily Housing Council (NMHC) says that 79.8% of apartment households made a full or partial rent payment by April 6th, 2021. Click here to read more.
Best Counties for Buying Single-Family Rentals
According to data from ATTOM’s Q1 2021 Single Family Rental Market report, the average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 495 counties is 7.7% for 2021. Click here to read more.
Top Destination Cities for Renters
A recent report from STORAGECafé says more renters moved in 2020 vs. 2019, with most of those upgrading to larger homes. Interestingly, they point out that 69% of renters looked for housing in the same state while the remaining 31% sought a new home in another state. Click here to read more.
Millennials Continue to Dominate Home Buying Market
According to the National Association of Realtor’s 2021 Home Buyers and Sellers Generational Trends report, millennials continue to make up the largest share of homebuyers coming in at 37%. Click here to read more.
Big Firms are Crowding the Market for Houses and Driving Up Prices
The Wall Street Journal recently wrote about how so-called big firms are crowding out the market for houses and in the process, driving up prices. They report that it runs the gamut from individuals with smartphones and a few thousand bucks to pensions & private-equity firms with billions, yield-chasing investors are snapping up single-family houses to rent out or flip. Click here to read more.
Consumer Price Index Up 0.6% in March
The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.6% in March, 2021. Click here to read more.
Pandemic-Driven Demand for 2nd Homes Soars
According to new data from Redfin, buyers who locked in mortgage rates for second home purchases shot up by a record 128% year-over-year in March – marking the 10th straight month of 80%-plus annual growth. Click here to read more.
Landline Phones Are a Dying Breed
Infographic: This shouldn’t come as a surprise to anyone, but it is interesting nonetheless. Today’s infographic shows us that an ever-increasing majority of American households have ditched traditional landlines in favor of cell phones. Click here to read more.
In-Person meeting Tuesday, May 25, 6:30-9pm
***CFPB Wants to Prevent Foreclosures Until End of the Year
A new rule proposed by the Consumer Financial Protection Bureau (CFPB) seeks to prevent a wave of foreclosures as some pandemic protections for homeowners are set to expire. The rule, which would apply to all mortgages federal & private, will prevent mortgage servicers from initiating a foreclosure against delinquent borrowers through December 31, 2021. Click here to read more.
Will You Be Ready When the Eviction Moratorium Ends?
On a recent episode of the Rent Perfect Podcast, David Pickron says the current tenant/landlord climate feels like a good old-fashioned game of musical chairs. As housing providers anticipate the end of the CDC’s eviction moratorium, it’s critical for landlords to know and prepare for what’s next. Click here to read more.
Pending Home Sales Down 10.6%
The National Association of Realtors is reporting that pending home sales were down 10.6% in February, 2021. Click here to read more.
S&P CoreLogic Case-Shiller Index Up 11.2% in January
According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, the rate of home price increases reported a 11.2% annual gain in January, 2021. Click here to read more.
Rentable Says April Rent Prices Down Slightly
Rentable says that the median nationwide rent price for one-bedroom units in April was $1,121 (down 0.27%) with two-bedroom units coming in at $1378 (down 0.29%). Click here to read more.
Construction Spending Down 0.8% in February
The U.S. government is reporting that total construction spending in February was at a seasonally adjusted annual rate of $1,516.9 billion, which is 0.8% below January’s revised estimate. However, February’s figure was 5.3% higher than one year ago. Click here to read more.
FHFA House Price Index Up 12% Year-Over-Year
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices were up 1% in January and up 12% from one year ago. Click here to read more.
NAHB’s What Home Buyers Really Want 2021
The NAHB recently released their annual What Home Buyers Really Want report that they say sheds light on the housing preferences of the typical home buyer as well as how those preferences change over time, and how they may vary based on demographic factors. Click here to read more.
Who Americans Spend Their Time with by Age
Infographic: Time is the one finite resource that we closely guard and often, carefully choose how we spend it. Today’s interactive infographic from the Visual Capitalist takes a look at who Americans exactly spend their time with and for how long. Click here to read more.
It's ProXtra Appreciation Day 4/1/21 at Home Depot!
I look forward to see you there! Mike
Make the RIGHT Offer for BRRRR, Market, Finance trend, Short term, Insurance coverage!
Time: Mar 30, 2021 06:30 PM Eastern Time (US and Canada) Join Zoom Meeting
Meeting ID: 874 2031 6768 Passcode: 795696
Several times folks have told me of Property Losses, Short Term Rentals & Mortgages that they've "Researched". Then selected a company and Settled, Stayed at or Financed with however based on what they describe I'm sure they could've done better with Len, Liann & Mike - Vendors in our Association!
So they'll have short updates for us, so that we don't forget them in the Confusion of Needing them!!
Still a very hot market. I'm hearing Tales of Sales that go $50k, $65k and $80k above the Listed price! Lincoln'll be showing us the Stats.
People still describe to me how they make offers and I think it's time for a quick review "Making Offers 101" How to quickly Assess Values and know When to "Fold 'em"
Friday, April 2, 2021 6:30-8pm online meeting Construction, Rehabbing & Contractor Licensing
Builders license - There’s a lot of money out there in Construction, especially rehabbing/upgrading. If you don’t have your Builders license, it might be time to get it, so you can pull permits and have Insurance coverage on your most important Self, Workers and Clients
I just got a notice for my upcoming birthday to renew my Builders License after completing my CEUs. Like many of you guys. and We Are also required to have the Latest Code Books which seem to Grow every year.
So Do you need to pull a Permit for every job?
Do you need a license for every Job?
Do you have to have Insurance for every Job?
Do you need the Code Books on every Job?
You tell me, I hate to hear about some wise guy that’s holding money from a hard working Contractor because they found out you didn’t do something with all that compliance, you guys work too hard for that crap.
So on our next Friday meeting April 2nd we’ll address How to Avoid those issues...
Tuesday, March 30, 6:30-8pm ZoomJshfojhewf 5
Networking and Education for CONTRACTORS! LANDLORDS! & INVESTORS!
Do you give out Free Estimates?
Are they Estimates or Quotes?
Review your Construction Contract with Attorney David?
Code Compliance, Where are the latest Building Codes & How do you Access them?
Home Depot ProXtra ONLY Members of MassRealEstate.net receive 2% CashBack/twice a year, 20% OFF paint at the Cash Register, Special Appliance Pricing & Access to the Bid Room on purchases over $1500. (Usually discounts of 7-50%)
Can share Tips like: 7 Advanced Screening Techniques for Tenants!
Use a Lease or Tenant @ Will agreement?
Normal Wear & Tear vs Destruction (Security Deposit Issue)?
also Join & get ALL our Discounts.
Getting Started on the Right Track: No Money or Experience? "Bird-Dog" Techniques…
Business Entities to use LLC, LLP, S Corp, Corp, FLP, Realty Trust???
Types of Properties to Buy and their Pros & Cons.
Areas to Invest in?
Amount of Work Involved?
also Join and get ALL our Discounts!
Grow Your Business... & receive your 2% Home Depot cash
Our growing network of members and attendees create the perfect environment for Success: Need a Contractor? We have an extensive list in our database and the best ones attend our meetings on a regular basis! Need customers? Our Contractor Members can present their services at our Meetingss!
* 2% Rebate Program - (Above all other discounts that you are already receiving from the Home Depot.)
* 20% off Paint at the check out register.
* Up to 25% discount on the selected Appliances, you need!
* Access to the "Bid Room" on purchases of over $1500 (usually 7-50% off
See our MassRealEstate.net / NewHampshireREIA.org 31 page Member Discount, Appliance Catalog available in the "Members Only" area.
* Access to the Bid Room for possible discounts on purchases over $1,500.
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