Weekly News & Updates August 31, 2018
New Single Family Homes Sales Down 1.7% in July
The U.S. government is reporting that sales of new single-family houses in July 2018 were 1.7% lower than June’s revised rate but is 12.8% higher than July, 2017. The median sales price of new houses sold in July 2018 was $328,700 and the average sales price was $394,300. Click here to read more.
FHFA Exits Single-Family Rental Market
The Federal Housing Finance Agency (FHFA) recently announced that Fannie Mae and Freddie Mac (the Enterprises) will conclude their single-family rental pilot programs and then terminate their participation in the single-family rental market except through their previously existing investor programs – Fannie Mae’s Multiple Financed Properties and Freddie Mac’s Investment Property Mortgages. Click here to read more.
Foreclosure Starts Increase in 44% of U.S. Markets
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. Click here to read more.
A Coming Exodus of Older Homeowners?
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. 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. Click here to read more.
Rental Laws Hamstringing Landlords On West Coast
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. The bottom-line here is that what starts on the coasts could spread inward…unless it’s stopped. Click here to read more.
Indices Show Home Prices Still Soaring
According to the latest S&P CoreLogic Case-Shiller Indices, home prices once again are showing no signs of slowing down as they continued to rise across the country over the last 12 months. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.2% annual gain in June, which was slightly down from May. Click here to read more.
HipCamp is like Airbnb for Camping
Believe it or not, we’ve found another “airbnb-like” site to post about only this time it is geared toward camping. Hipcamp allows users to book unique camping experiences at over 300k campsites, ranches, vineyards, public parks and more – in all 50 states! From public parks to private land, they’re perhaps the most comprehensive guide to camping in the nation. Click here to read more.
Sex and Real Estate Investing
Do you get an adrenaline rush from real estate investing? How often do you wish you could get a better deal on the houses that you find? Are you frustrated by the ones you don’t close? What if there was a juicy secret weapon you could use to close more deals, get a higher rate of return and make negotiating your new favorite past time? Click here to read more.
Labor Day 2018 Statistics
Infographic: Labor Day weekend marks the unofficial end of Summer so here’s a quick infographic with some interesting statistics about the U.S. labor force, courtesy of MoneyTips. Of note; Over the past year the number of employed Americans has increased by 1.8 million and the unemployment rate has dropped from 4.3% to 3.9%. Click here to read more.