Real Estate News: Real Estate Investing Podcast

If you want to stretch your real estate investing dollars as far as you can, you may want to look at Detroit. Motor City is the number one large metro for the amount of residential square footage you can get for your money. You might run into some competition as a summer buyer however. There are reports that the Detroit real estate market is booming right now, despite concerns about the pandemic....

Mortgage rates have never been this low. Freddie Mac reported on July 16th that the average 30-year fixed-rate mortgage fell below the 3% mark to just 2.98%. That's the lowest they've been in the 50 years that rates have been tracked. Those low rates are great for buyers, but they are also the results of the current crisis.   Mortgage rates tend to drop when investors pour money into the 10-year U...

Multi-millionaires around the world are renewing their call for a wealth tax. This time, they say it's needed to help heal the world from this pandemic.   There are 83 ultra-wealthy individuals who signed an open letter this last week, asking their respective governments to raise taxes for people like them. They call themselves "Millionaires for Humanity" and say this tax should be imposed "immedi...

In this Real Estate News Brief for the week ending July 11th, 2020... new record-low  mortgage rates, where rents are rising, and what to expect from home prices.   We begin with economic news for the past week, and some progress on getting back to work. The Labor Department reported that initial jobless claims hit a seasonally-adjusted four-month low of 1.31 million. That's down from 1.41 million...

Businesses large and small lined up for the government's Paycheck Protection Program, and now many of them may be lining up for an audit. The program was designed to help companies that were hurt by the coronavirus with loans that are forgivable if employees are kept on the payroll. But loans were approved quickly, without a lot of documentation, and now many businesses may have to prove that they...

Two national reports on rent collection show that most tenants are meeting their rent obligations, although the results are slightly lower than last month. Eviction moratoriums are also being lifted in some markets, making it possible for landlords to address a difficult financial situation with an eviction, if needed.   The National Multi-Housing Council keeps track of rent collection for apartme...

The latest jobs report shows a stunning 4.8 million jobs were added back into the economy in June. That's on top of 2.5 million jobs that were added in May. Both represent the two biggest monthly gains in U.S. history. Although they "shattered expectations" as the White House wrote in a headline, there's more to know about the status of the current job market.   The COVID-19 pandemic that shut dow...

In this Real Estate News Brief for the week ending the Fourth of July 2020... market optimism after a report on pending home sales, good news about jobs, and a new FICO score that could help borrowers with below-average scores.   We begin with economic news from this past week, and a report on pending home sales that sent the stock market soaring. They were up a record 44.3% from April to May, acc...

If you have gold in your financial portfolio, beware of any holdings connected to Kingold Jewelry. It's now at the center of a massive gold fraud scandal. And what adds another layer of intrigue is the company's location, in Wuhan, China, which is the epicenter of the current pandemic.    The gold scandal is not connected to the pandemic, but is it creating new shockwaves connected to China. Accor...

The pandemic is giving many of us "shakephobia." Shaking hands is a common way to express good will and is often used during the closing of a business deal. It's also a great way to spread germs, and maybe not a wise thing to do as the coronavirus spreads. I thought I'd dedicate this podcast to ways you can avoid a handshake without offending the person you are greeting.   The handshake has been a...

It's headline news for residential real estate. The National Association of Realtors is reporting a mammoth 44.3% increase in pending home sales for the month of May. That's after a decline during the previous two months when the pandemic was at its peak. Economists see this as a sign of a "V-shaped" recovery that could help lead the economy out of the current recession.   The market for existing...

In this Real Estate News Brief for the week ending June 25th, 2020... new home sales are surging, real estate investors are feeling optimistic, and a home buyer priority that can make or break a sale.   We begin with economic news from this past week, and some promising signs for the housing market. The government reported a big surge in the sale of new homes in May. They were up a seasonally-adju...

Efforts to eliminate signs of racism have swept across the country. From the toppling of confederate statues to the retiring of the Aunt Jemima image by Quaker Oats, individuals and businesses are getting rid of racist symbols. The word "master" is something that's used in the real estate world to describe the main bedroom in a house. In one city, realtors have decided to replace that word on the...

If you're in the market for a single-family home, chances are you'll have competition this summer. Searches for single-family homes have surged as many more people clamor after the privacy of a home with a yard in the midst of this pandemic. A Redfin report says interest in single-family homes hit a four-year high last month. Tampa is at the top of the list for an increase in single-family web sea...

In this Real Estate News Brief for the week ending June 20th, 2020… competition heats up among home buyers, mortgage rates hit a new low, and what tenants are doing to manage their finances.   We begin with economic news from this past week, and testimony from Fed Chief Jerome Powell on the state of the economy. He told members of Congress that some economic data points to a "modest rebound" right...

There are big changes to the Paycheck Protection Program that benefit independent contractors and sole proprietors. The changes include more lenient requirements for how you spend the money, an easier process for loan forgiveness, and a longer period of forbearance. But the deadline to sign up is approaching at the end of the month, so if you haven't applied yet, the clock is ticking.   The deadli...

The Fed has launched a new lending program to help struggling companies and get people back to work. The Main Street Lending program was announced in March to help small to medium businesses that were doing well before the pandemic, and it's rolling out now at local banks. The loans are not forgivable like those in the Paycheck Protection Program but the terms are generous, and they do fill a lend...

In this Real Estate News Brief for the week ending June 13th, 2020… the Fed's plan for the economy, why small businesses are optimistic, and a sudden surge in short-term rental reservations.   We begin with economic news from this past week and word from the Fed that the federal funds rate will probably stay right where it is, at zero, for the next couple of years. Fed Chief Jerome Powell said in...

The killing of George Floyd by a Minneapolis police officer unleashed anger across the country over the mistreatment of Blacks throughout American history. Inequality can manifest in many ways and in many parts of our culture, despite laws that outlaw discrimination. Our housing and financial markets are no exception. Although the practice of redlining was banned more than 50 years ago, Redfin say...

The Federal Reserve offered a mid-year update on the economy, after skipping the last update in March due to the pandemic. After a two-day meeting, Fed Chief Jerome Powell delivered his comments in a virtual meeting with reporters. He highlighted the fact that we are in the midst of a difficult and challenging time with great uncertainty about the future. But that said, he offered a potential time...

In this Real Estate News Brief for the week ending June 6th, 2020... a pleasant surprise about job growth, a forbearance slowdown, and home design that discourages germs. We begin with economic news from this past week and a surprise report on the job market that sent the stock market soaring. The government's job growth report shows a 2.5 million hiring increase for the month of May. That brought...

The government is doing everything it can to prop up the housing market. But when those props disappear, will we see foreclosures? Investors capitalized on the foreclosure crisis during the Great Recession. Many single-family homes were snapped up at fire-sale prices, and turned into rentals. But, investors hoping for a similar situation may be waiting for quite some time. According to some expert...

Some of the nation's biggest landlords are betting on a surge in demand for single-family rentals in the suburbs. JPMorgan Asset Management and American Homes 4 Rent announced a joint venture to build 2,500 new single-family rentals in western and southwestern high-growth markets. They say the deal will capitalize on a post-pandemic desire to move away from apartments in crowded cities. It will al...

It was only a few months ago that cities were worried about how to keep their low-income residents. Now there's concern that the need for social distancing is chasing big companies and their highly-paid employees away. The post-pandemic office environment is going to be different, and there are signs already that businesses are rethinking their office space needs.   www. NewsForInvestors.com

In this Real Estate News Brief for the week ending May 30th, 2020... mortgage rates have hit a new record low, landlords keeping tenants with shorter terms, and buyers want homes with outdoor features.   We begin with economic news from this past week, and signs of life in the housing market. New home sales were up .06% from March to April, although they were down more than 6% from April of last y...