With all the talk about staggering number of underwater owners Zillow released a very impressive report today about the number of homes that are owned..outright…with no loan… Nationwide, using Zillow’s Negative Equity 2012 Q3 data; 29% (20.6 million) of homeowners own their home outright. West Virginia tops the state list with the highest percentage of free and clear homeowners (45%) followed by Louisiana (39%) and Arkansas (38%) as shown in the bar graph below. Zillow’s study finds a direct correlation between the the average cost of a home and the percent of paid off homes. Bottom line, folks who live [...]
Remember when land lording was the domain of the small time ‘mom and pop’ type investors? Not anymore. What is particularly interesting about this CNBC video is the concept that REITs (Real Estate Investment Trusts) who hold mostly single family homes have become new a new ‘investment class’. Like Gold, Stocks… A little history for you. Single family home investing has been seen as less than desirable when compared to multifamily investing (or other traditional securities) for decades. From a financial perspective it made sense that you would want to buy a multifamily for the sake of cash flow and [...]
Push vs. pull, law of attraction or just plain physics. There are certain laws of the universe at work in determining your success. We’ve all experienced it. You get in a funk. Nothing seems to be working. You feel like you’re beating your head against a wall, your attitude tanks. You’ve lost your mojo and [...]
Selling a home can be stressful for the un- or under prepared consumer. Crazy expectations, market mis-education, and the common misconception that all homes sell in 30 minutes like they do on HGTV can all create a difficult environment for you and your clients. Avoid the misunderstandings that could ruin the transaction and your chances [...]
Big moves from Bank of America this week. Watch this great CNBC Video: WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2013 Agent Short Sale Secrets video and do...
Will real estate appreciate (ie increase in cost faster than the inflation rate) in 2013? Sounds possible when you consider that home sales are increasing, available homes for sale seem to be decreasing…and interest rates are still low. Sounds like the perfect recipe for home value increases…right? Not so fast. Yes, in some markets the cost of a home WILL increase. But, lets not forget that there are still between 10-20,000,000 owners STILL underwater. So much so that home appreciate rates would have to be 10%+ for at least 5 years (approx) for their homes to be worth what they [...]
HARRIS REAL ESTATE UNIVERSITY Students (and future students) are you ready for 2013? HREU’s 2013 Real Estate Market Predictions call for this year to be the best year for home sales (for YOU) in years. WARNING: Short Sales…love em or hate em…...
Again, thanks to the National Association of Realtors for their extraordinary efforts…here are the final details as pertains to the Mortgage Debt Relief Act and other relevant real estate issues: On January 1 both the Senate and House passed H.R. 8, legislation to avert the “fiscal cliff,” the bill will be signed shortly by President Barack Obama. Below are a summary of real estate related provisions in the bill. Real Estate Tax Extenders Mortgage Cancellation Relief is extended for one year to January 1, 2014 Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and [...]