I always have real estate news, just not a lot of it. I’m a lot less about marketing and a lot more about fundmanentals, these days, but I’m listing more as game theory than as a job, anyway. What’s going on with single family homes?
A housing market stymied by supply shortages will get relief next year from homebuilders, according to the National Association of Realtors.
Single-family housing starts likely will total 1 million in 2020, the highest since 2007, the trade group said in a forecast on Wednesday. That was the year prior to the housing market meltdown that spurred a global financial rout.
If you are a single family home owner, you may want to read the rest of this report at Housing Wire.
OTHER 4 HEADLINES WE’VE NOTICED THIS WEEK:
- Americans Want to Downsize, and These Tools Can Help @RealestBlog
After years of homes growing larger and larger, Americans are showing a preference for smaller single family homes. Not only is the average new home size shrinking, but more and more buyers are saying they want to go even smaller. While largely motivated by cost savings, downsizing homeowners also look forward to the convenience of a compact home.
However, while downsized homes promise simplicity, the switch is anything but. Homeowners face a daunting list of things to do when cutting their square footage. From preparing a home for sale to offloading unwanted stuff, Realestblog have listed the resources down-sizers need to get it done. Head there to find out!
2. Pending Home Sales dip as tight Inventory Levels plague Sector @TheAmericanGenius
Good News for home sellers, “There is no shortage of buyers seeking homes,” said Dr. Lawrence Yun, chief economist at the National Association of Realtors (NAR), “but a lack of available units continues to drag down the nation’s housing market and overall economy.”
In response to the pending home sales index (PHSI) dipping 1.7% in October after two months of increases, Dr. Yun continues shining a light on tight inventory levels as a primary (and we would note, plaguing) factor in housing.
Dr. Yun laid out more data you can read here. But the bottom line is, “if we do not address inventory levels, current homebuilding won’t be able to support the expanding population in the coming decades,” he concludes.
3. What is the Actual Cost of Buying a Home? @Propertycluster
Clearing the dilemma most first time home buyers would face.
It would have been nice if homes came with price tags too so that a first time home buyer could compare ‘all-inclusive’ costs. But just because the online calculator says you can afford a home doesn’t always mean you can. Buying a house includes various costs apart from the down payment and a person should be well informed about those beforehand, else it may put one in a financial crisis.
The many costs included in buying a home can be generally divided between upfront costs and future costs.
1. Upfront costs
Upfront costs, also known as closing costs, include whatever money has to be paid before the buyer actually owns the home. Here, we’ll look at different upfront costs required to buy a home.
2. Future Costs
Future costs are the expenses that a new homeowner has to bear after moving into the new home. Most of the times, the buyers neglect to take these costs into account. A few of the widely known future costs you must consider when buying a home are listed at Property Cluster.
4. How To Get Started Investing In Rental Properties @Investfourmore
Rental properties can be an amazing investment. While it may seem like it is really tough to get started as a real estate investor, it may not be as tough as you think. There are also many misconceptions about how people make money with rentals and how risky they are. @InvestFourMore guide is going to help you learn all about rentals: why they are an awesome investment, how much money it takes to buy them, how to finance them, how management works, and many other tips and techniques.
@InvestFourMore bought his first rental property in 2010. It was a 3 bedroom, 2 bathroom, 2 story I paid about $97,000 for. He bought it when his wife was pregnant with their twins using money from refinancing his personal house. He ended up buying 16 residential rentals from 2010 to 2015 in Northern Colorado. Market prices shot up in his area and He could no longer cash flow with residential rentals in 2016. He stopped buying for a year and then discovered commercial rentals. He have since bought 8 commercial rentals ranging from $70,000 to $2.1 million dollars since 2017. 🤔 he sounds like a guy who knows a thing or two about investing in rentals. Head over on to his blog to learn more.
Share with your friends and loved ones my weekly newsletter of favorite finds from around the web, as well as a digest of everything Real Estate so they too can stay informed! To get them in their inbox once a week, sign up ❤️.