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Flips Flopped in 2014

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Don’t tell the HGTV producers who find audiences for their endless stream of shows devoted to house flipping, but it’s looking like flipping is losing popularity. RealtyTrac® reports that last year flips fell to their lowest market share since 2011.  Some 136,269 U.S. single family homes were flipped in 2014, 5.4 percent of all single family home sales during the ... Read More »

Look for Rental Profits Where Foreclosures Were

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A number of familiar former foreclosure hotbeds top RealtyTrac’s list of best markets to buy a rental property in the first quarter of 2015.  They’ve got the right mix of employment, growth, prices and potential return. The report also looks at which markets are seeing the biggest increases in rental rates in 2015 compared to 2014, and provides rankings of ... Read More »

Can Traditional Buyers Save the Recovery?

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  The recovery is at a tipping point because traditional buyers are not making up for the decline in sales to investors, who cannot find enough houses to buy profitably.  Cash buyers competing for distressed and low-tier inventory who helped to jump start the overall recovery now are fading from the market.  They have fallen to just 16.8% of all sales, suggesting ... Read More »

Flippers Flop Back Five Years

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Flipping has flopped to its lowest level since the second quarter of 2009, accounting for only 4 percent of all sales in the third quarter. Only 26,947 single family homes were flipped nationwide in the third quarter of 2014 representing 4 percent of all U.S. single family home sales, down from 4.6 percent in the second quarter of 2014 and ... Read More »

Rents Rose for Eight Straight Months

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The national annual effective rent growth reached 4.33% in October, a 2 basis point (bps) increase from September’s 4.31% and the highest point of the year to date, according to the latest data from Axiometrics.. October marked the eighth straight month in which effective rent growth has increased. The continued strong effective rent growth indicates that the national apartment market is ... Read More »

Sneak Attack! Closing Costs Soar 20.8 Percent

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While most homebuyers are focused on rising home prices, closing costs are rising nearly as quickly over the past three years, increasing by more than 20 percent since 2010, according to Bankrate.com Mortgage closing costs rose 6 percent over 2013 after rising 6 percent in 2012 and 8.8 percent in 2011 The now average $2,539 on a $200,000 loan. Each ... Read More »

Consolidation Creates Megalandlords Dominating Single Family Rentals

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“Now we’ll sweep up everybody over the next two years who got stuck, who says I have home price appreciation, which they do. They bought right, but now they are stuck.” The chief executive officer of the second largest hedge fund landlord articulated in an interview with Bloomberg why a handful of megalords are the process of dominating the single ... Read More »

Zillow: Don’t Buy a Home in Hartford!

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The folks in Conecticut will be unpleasantly surprised to learn they beat out Vegas and Miami as the riskiest market to buy a home. Zillow set out to look at the markets where housing prices have declined the most over the past 35 years  and chained the Zillow Home Value Index (ZHVI) backward in time to 1979 Q4 using the ... Read More »

Apartment Rents Reach New Heights

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  National apartment occupancy reached 95% for the first time in at least six years in May 2014, helping to drive effective rent growth for the year to date ending in May by 3.7%, the highest growth since the trough of the recession. “Axiometrics began tracking apartment data on a monthly basis in April 2008, and this is the first ... Read More »

REOs: They’re B-a-a-a-a-ck

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  REOs (bank-owned foreclosures) have returned in force just in time for the spring season and to benefit from prices that have been rising for a year or more.  Banks are listing foreclosures, some of which have been in the works since the end of the robo-signing scandal. As delinquency rates remain low, the new REOs are likely to be ... Read More »