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3 Quick Ways to Add Value to Your Property

August 10, 2013 by Marco Santarelli

You've purchased that quick-flip property. Now it's time to get the most out of your investment. Real estate players rely on timing, negotiating skills and research to acquire properties that will return a profit. The property you purchase doesn't have to be the property you sell, however. Minor property upgrades can pay for themselves and then some. From the unsightly material clinging to your 60s-era ceiling to the stale air in the living room, minor problems can turn away potential buyers and reduce your profit margin.

A little elbow grease can turn a trouble-ridden property into a hot sell. Try these upgrades if you're looking to add quick value to your real estate investment.

[Read more…]

Filed Under: Rehabbing, Selling Real Estate

National Economic Outlook (August 2013)

August 5, 2013 by Marco Santarelli

The pace of job growth in July was unchanged from the 1.7 percent annual rate of previous months, but the details suggest an economy that will do modestly better for the rest of the year. Most importantly, jobs in business services were up 3.5 percent from last year.

Business services is one of the largest sectors of the economy, on a par with health care and government, and bigger than retail or manufacturing. Earlier this year it was growing at a 3 percent rate, in the last few months around 3.5 percent; it seems only a small increase but it means that businesses are expanding again.

[Read more…]

Filed Under: Economy, Housing Market Tagged With: Economy, Housing Market, Real Estate Economics, Real Estate Investing, Real Estate Market, US economy

Real Estate Investing in Right-to-Work States

July 30, 2013 by Marco Santarelli

Uncle-SamGood and plentiful jobs make good markets better for real estate investors. You’ll get little disagreement on that, as it stands to reason that where there are more jobs (and workers to fill them), you need more housing. The fallout from the recession and concurrent housing crisis means more and more of those workers are renters, as they look to rebuild their credit. And workers bringing home a regular paycheck generally can be counted on to pay the rent – on time! – and take care of the property.

Plus, where there’s a sustained need for housing, prices will appreciate more and faster.

[Read more…]

Filed Under: Economy, Real Estate Investing

US Housing Market News

July 23, 2013 by Marco Santarelli

US Housing Market Overview

Zillow’s second quarter Market Report, released today, show home values increased 2.4% from the first quarter of 2013 to the second quarter of 2013 to $161,100.  This quarter marks the largest annual gain since August 2006 and largest quarterly gain since the fourth quarter of 2005. On an annual basis, the Zillow Home Value Index (ZHVI) rose 5.8% from June 2012 levels.

Monthly appreciation remains strong with national home values growing by 0.9% from May. Not only did the pace of home value appreciation quicken in the second quarter, but the recovery also fully took hold nationwide. Markets in some areas of the Northeast, Midwest and Southeastern US, such as Atlanta, Chicago and St. Louis, that had previously been slow to turn the corner began to appreciate, which helped boost the overall national market. All of the top 30 largest metro areas covered experienced annual appreciation in home values as of the end of the second quarter, and all have hit their bottom.

[Read more…]

Filed Under: Housing Market

255 Real Estate Markets Improve

July 10, 2013 by Marco Santarelli

Homes and Their PotentialA total of 255 metropolitan areas across 49 states and the District of Columbia qualified to be listed on the National Association of Home Builders/First American Improving Markets Index (IMI) for July, released today. This is down slightly from the 263 metros that made the list in June, but is more than triple the number of metros that were on it in July of 2012.

The IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Six new markets were added to the list and 14 were dropped in July. Newcomers include the geographically diverse metros of Cumberland, Md.; Saginaw, Mich.; Farmington and Las Cruces, N.M.; Kingston, N.Y.; and Olympia, Wash.

[Read more…]

Filed Under: Housing Market

How to Appraise Real Property Value

June 25, 2013 by Marco Santarelli

There are many good reasons to have your property valued. Whether you are applying for a home equity loan or refinancing your mortgage, having an accurate reading on what the value of your property is will be important in achieving the financial goals that you have set for yourself.

There are some important things to consider when appraising your value, so here are the steps you will want to take to ensure that you get the most accurate reading on your property.

[Read more…]

Filed Under: Financing, Real Estate Investing

National Economic Outlook (June 2013)

June 10, 2013 by Marco Santarelli

The economic recession only lasted a year, but there wasn't a recovery for homes because prices had climbed much too high and builders had built way too many of them. Prices had to fall, not just back to a “normal” level, but to an even lower level so that the large inventory of excess homes could be moved – a sort of clearance sale. We're not yet done with that sale – see the large number of mortgages still delinquent – but enough has been cleared out so that prices can drift up to a more normal level.

 

[Read more…]

Filed Under: Economy, Housing Market Tagged With: Economy, Housing Market, Real Estate Economics, Real Estate Investing, Real Estate Market, US economy

The Phoenix Housing Market Shortage And Crisis

June 4, 2013 by Marco Santarelli

Phoenix Arizona Housing CrisisPhoenix Arizona Housing Market Crisis

A Phoenix property with 95 bids is just one example of a housing market entering a new and unprecedented phase. Experts with Arizona State University's School of Business say the city is heading for a significant housing shortage.

Long gone are the days when the Phoenix metro was riddled with available, well-built single-family homes in the wake of the 2008 housing market bust.

Five years after the crash, the desert metro is facing lagging home construction, predictions of population growth and rising land prices, according to real estate experts with ASU.

[Read more…]

Filed Under: Housing Market

Home Values and Rents

May 29, 2013 by Marco Santarelli

The April Zillow Real Estate Market Reports cover 365 metropolitan and micropolitan areas. In April, 2012 (55%) of the 365 markets showed monthly home value appreciation, and 266 (73%) of the 365 markets saw annual home value appreciation.

Among the top 30 metros, 27 of them experienced monthly home value appreciation, and 29 of them experienced annual increases with only Chicago (0.2% down) showing declining home values over the past year. Leading the pack in positive monthly appreciation were Sacramento, Las Vegas, San Jose and San Francisco, which experienced 3.4%, 3%, 2.8% and 2.8% monthly home value appreciation, respectively.

[Read more…]

Filed Under: Housing Market

20 Best Markets for Buying Single Family Rentals

May 28, 2013 by Marco Santarelli

Best-of-the-BestWhile buying single family rental properties has become the darling investment strategy of Wall Street, it may not always make sense for individual real estate investors — particularly in some markets already picked over by the large institutional investors. But there are still markets where the numbers work for the conservative, individual investor looking to purchase foreclosures and other homes as single family investment properties.

[Read more…]

Filed Under: Growth Markets, Housing Market, Real Estate Investing Tagged With: Best Markets, Cap Rate, cash flow, Housing Market, Real Estate Investing, Single Family Rental Property

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