Important Weekly Update 10/18/19
Yardi Says Rent Growth Flattened in September
According to the latest Yardi Matrix, U.S. multifamily rents flattened in September, coming in at $1,471 with year-over-year growth coming in at 3.2%. Click here to read more.
When a Home Is Suddenly Called Historic
What happens when you try to sell a property and a 3rd party throws a wrench into the process at the last minute? That’s what happened to a couple in Florida that had a contract to sell their house (and adjacent lots) for a new development but a neighbor put in an application to have their home designated as a historic property. Click here to read more.
Citibank Fined $30 Million for Holding REOs Too Long
A REO speed wagon they are not; HousingWire is reporting that Citibank was recently fined $30 million for holding onto foreclosures for far too long, exceeding a 5-year REO limit on hundreds of homes. Click here to read more.
Half of California Voters Considered Moving Over High Housing Costs
A recent poll from none other than the University of California, Berkeley, reveals that 52% (of the nearly 5k registered-voters polled) said they had given “serious” or “some” consideration to leaving California and that most of them cited high housing cost as part of that reason. Click here to read more.
New Start-Up Offers Guaranteed Rent
A new startup called Doorstead doesn’t want you to miss out on a month’s rent just because you can’t find a tenant. Calling themselves a “full-service property management with guaranteed rental income,” the new company will not only manage your property but guarantee rent for rent for a certain number of days – even if it can’t fill the unit. Click here to read more.
Seven Questions for Contractors
Tony Youngs also known as “Mr. Rehab,” offers investors seven questions they should be asking contractors before performing any work. Click here to read more.
Demand for Vacation Homes Sees Increase
A new report from the National Association of Realtors says that increased financial wealth and low mortgage rates have boosted the demand and price of vacation homes. Click here to read more.
Four Seasons of Homeownership – Fall
Infographic: Fall is firmly upon us and with that in mind, today’s infographic from Today’s Homeowner (from their 4 Seasons of Homeownership) goes over some simple things you can do to prepare your home for winter. Click here to read more.