7 Tips For Choosing The Right Contractor

You might be tempted to be the “everyman” for your property. And if you only own a couple homes, maybe you can be. It isn’t too difficult to drop everything and go fix a window or check out a safety concern when your to-do list for the day is small. But it’s a different story…

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5 Smart Rental Property Renovations

You’ve found yourself with a property vacant again– and it’s a disaster. There’s a strange smell, stains on the carpet and walls, and some of the appliances aren’t even working. It might feel tempting to just scrap everything and start over to avoid tearing your hair out. But this isn’t likely to get you the…

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Millions of BOOMERS Prefer Rent

The premise has been that rental demand is driven by millennials who rent for job location flexibility, lack cash for a down payment, prefer urban locations but rent for square footage single-family detached. And Boomers insist on the equity creation of home ownership is dispelled by a Freddie Mac survey that reveals over half of…

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Investors View Macro Political Hiccups

Today the 56 million people of the UK vote on Brexit, whether to remain in the EU, with significant ramifications for their economy and for the economies of the EU member countries and the US and Asian economies. Only 4% of US exports are shipped to the UK but the instability of the financial markets…

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Existing Home Sales Set 9-year Record

National Association of Realtors reported 6/22/16) sales of existing homers rose to the highest level in more than nine years in May due to signs of rising demand with steady job creation and low interest rates. The new seasonally adjusted sales rate is 5.53 million. The national median sale price of previously owned homes was…

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Poor Jobs Report But Strong Housing

The US Labor Dept Jobs report of 38,000 new jobs in May was a set back to the Fed’s expected rate increase and a departure from the job creation pace four times higher than reported. GDP growth for Q1 has been downwardly revised by Freddie Mac to 1.1% from 1.8% a major slowdown. In their…

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NYC, SF Rents Drop: Implications

Equity Residential, a large builder of Class A apartments in major cities lowered its guidance this month for revenue because of lower rents in New York City and San Francisco. At the same time the National Association of Home Builders Index fell for the Northeast for the first time in four years. These markets have…

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Migration Drives Home Sales in Mid-MSAs

Redfin reports that in one-third of the markets it tracks, the mid-size markets specifically, sales have increased by double digits versus the national average of sales increase of 7%. Inventory levels have fallen by about the same amount so a whipsaw effect that has driven days under contract down to 42 days, the shortest period…

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May Homes Sales Pace Record

Redfin reports that the pace of Home sales for May 2016 was the fastest on record. The average home in the US went under contract in 42 days, seven days faster than May 2015 and the shortest time since Redfin started tracking the duration in 2009. The pendulum has swung from five years of of…

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Rents Rising for Investors

Trulia reports that rents from June to June 2016 have fallen slightly in a pull back from the steady rising rents of the past six years in the top 25 metro markets. Affordable rental listings are in the steep decline so rentals below $1200 are in such sketchy areas to be a “no fly zone”…

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