All Forum Posts by: William Hull

Great 3/1.5 with Solid Rents priced at $25,000! 2 Car Garage. Corner lot. Hardwoods throughout. Good furnace, newer water heater. Third floor entire master. Previous owner had it rented for $850 to a long term tenant but hasn't rented it in 6+ months.

Furnace - 8 years
Water heater - Newer
100 Amp electric
Wooden windows

Needs roof repair and floor repair in living room and cleaned out. Otherwise, in great condition.

Please contact Amie Lieurance at 630.303.3444 or [email protected] for more information on this property.

A new real estate search site, RealEstate.com, was launched by Zillow on Thursday. The site is designed to help millennials as well as first time home buyers find their dream home. This comes after Zillow obtained the rights to the domain name after purchasing Trulia in 2015. An important feature of the site is that if offers what Zillow calls an "All-In Monthly Price" for each of the listings. This includes information that is generally missing from standard listings such as closing costs, Homeowners Association fees, property taxes, closing costs, and average utilities costs in addition to the standard principal and interest. This will be especially useful to first time buyers in understanding the true cost of owning the home. Real estate agents who have been using This site gathers its information from a variety of sources, including brokerages, franchisors, and listing services. What is truly unique about the site is that it allows shoppers to sort though prospective homes that are within their budget by allowing the shopper to set the parameters of their desired down payment and monthly payment. Real estate agents who have been using Trulia and Zillow will continue to receive the same services through the new site, while first time buyers are afforded the opportunity to make sure that they do not go over budget on their new home.

Key Takeaways:

• Zillow launched a new web-site that aims to make the home search easier on millennials and first time home buyers
• Surveys show that especially first time home buyers find affordability and staying within their budget as the most important part of buying a new home.
• The site offers users an "all-in monthly cost" options which shows realistic expectations of all costs that go into owning the home/property. Such as insurance and realestate fees.

"What sets the new site apart, according to Zillow, is that RealEstate.com gives buyers a new way to search for a home"

Read more: http://www.housingwire.com/articles/40014-zillow-officially-launches-realestatecom-new-site-for-millennials-first-time-buyers

Thanks Josh! Price is 29k on this one and I will look into why it is not showing up. Thanks again for the heads up! 

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Home prices have risen recently, a 7.5% increase to an average of $273,000 this March. Conversely, sales numbers have gone down 13% over the past year. The report that identified these trends shows that 2017 will remain a strong year for the housing market. Over one-third of studied metropolitan areas displayed double-digit increases in home sales. This is evidenced by strong sales in some larger cities along the coast, and a lowering of number of available houses for sale in others cities across the country. Cities such as Fort Myers, Knoxville, and Austin are really displaying huge growth in sales, as high as 32.4%. Strong sales are continuing to be anticipated by Redfin real estate agents, such as Alec Traub. He suggests that it’s the easy access to available home listings by individual customers that is really driving sales interest. Instead of relying on a real estate agent to bring them potential fitting homes to investigate, buyers are able to do much more homework on their own and only use the agent for guidance when needed. Despite this newfound empowerment, however, it’s still recommended that potential home buyers work closely with an experienced agent when it comes time to really get to work.

Key Takeaways:

• Four East coast cities had an inventory decline of more than 30%.
• The velocity of home sales is driven by open and immediate access to the home listing information.
• Some agents recommend buyers to provide assurances to both the seller and listing agent.

"According to the report, 32 out of 90 metropolitan areas saw sales increase by double digits from last year."

Read more: http://www.housingwire.com/articles/39853-redfin-us-home-prices-sales-show-strong-gains-as-housing-shortage-continues

Statistical data from the 2012 US Census shows that the growth rate of many cities in the U.S. has recently surpassed that of suburban areas. Much has been made of this in the media as an evolving trend. However, what the data doesn't reflect is that while the growth rate has increased in cities, the actual population growth has been trending in favor of the suburban areas. In short, it remains to be seen if the rising growth rate will actually become a long term trend. What is apparent today is that the next decade will bring with it increasing population of two major U.S. renter demographics which will encourage a push toward more urban type amenities in suburban multifamily development. Millennials and Baby Boomers will make up the majority new renters looking going into 2025. Just the sheer volume of these populations with push the demand for rentals to historic highs. Developers and investors alike are watching this trend and adjusting to meet the requirements of both groups. Studio and one bedroom apartments are becoming more of the focus to accommodate these renters. Additionally, developers are leaning toward more social and health amenities such as game rooms, pools and gyms that will fit in with both age groups healthy lifestyles.

Key Takeaways:

• While metro areas have seen growth, suburban areas have as well
• To meet the increase in sheer numbers of renters, developers are focusing on amenity choices
• Some of the most successful developments are ones which have the best mix of conveniences.

"Currently 67.1 percent of households between the ages of 18 and 34 rent their residences, the highest percentage of U.S. renters, and the sheer population size of this generation will organically add 2.5 million people into this core renter age cohort by 2025."

Read more: http://www.theinvestor.jll/news/world/05/multifamily-development-and-amenities-trends-to-meet-core-renter-lifestyle-demands/

There is some good news for home buyers and sellers alike. According to the Mortgage Bankers Association, mortgage applications have seen a pretty significant uptick. This is especially important when you consider the shortage of stock. Mortgage Bankers Association performed a survey in March of 2017. According to the survey, mortgage applications were up 6.7% from March of 2016 and showed a major jump from February of 2017 - up 23%. The survey also found that the loan amount for new homes was fairly steady. It was down about $2,000 from February to March. However, almost two-thirds of applications were for a loan amount that was between $200,000-$400,000. According to the Vice President of the research, the Survey Index was at it highest point since it started in 2012. The Mortgage Banker's Association also reported that new home sales were running at a yearly rate of nearly 670,000. This is over a 14% increase from the February estimates. Lynn Fisher who is the Vice President of Research states that the increase suggests that developers have found a way to make new housing available to supplement what would be a very low inventory of existing homes for sale. Overall, the survey concluded that the inventory for home buyers is looking better as the year goes on.

Key Takeaways:

• There appears to be a continued and increasing strength in the US housing market
• While there is strength in the housing market the fact that the average loan size has not increased may be troubling
• With a limited inventory of homes, developers are bringing new products to market.

"MBA’s Builder Application Survey tracks application volume from mortgage subsidiaries of homebuilders across the country. As a result, the MBA, along with using data from other sources, is able to provide an early estimate of new home sales volumes at the national, state, and metro level."

Read more: http://www.housingwire.com/articles/39852-mba-mortgage-apps-for-new-home-purchases-jump-to-record-high

4/1 fixer upper, in an up and coming neighborhood. Conveniently located close to downtown and the children's museum. House needs some work but will be a great buy and hold property to let appreciate over next several years.

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Be prepared to make money hand over fist with this cash-cow in the Cumberland area yet still in Warren Twp! Rent with both sides occupied will bring in $1200/mo or transform this duplex into a SFR and display the beauty of Cumberland's Historic District.

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The "National Real Estate Investor" interviewed Edward Dittmer about how popular department store closings affect the malls and anchor stores. According to Morningstar, J.C. Penney is closing many of its own stores. Many department stores like J.C. Penny are located in class-b malls and when they leave it is hard to gain tenants to fill the vacancies. On occasion, sporting good and hobby stores will fill some vacancies but usually the owners of the mall are hard pressed and need to sell their malls. With J.C. Penney closing it's a matter of seven point twenty-nine billion in CMBS debt and decreasing sales. This in turn, leads to some bond holders losing one hundred percent of their liquidations and assets. It is not feasible to hold onto the business property. Some malls can continue with a steady cash flow if there is an eighty percent capacity. However, in the example of St. Louis Mills which once thrived as a one hundred and forty-two million dollar property; it plummeted to the market value of four point four million. The investors that buys mall properties at these low appraised prices may redevelop or make open-air shopping centers. Although, in the case of the St. Louis Mills mall it was demolished and developed. In other cases, malls could remain open or re-used to retain the asset.

Key Takeaways:

• With department stores closing locations malls are losing their anchor stores.
• If anchor stores close, malls may have problems filling space and retaining other tenants.
• Some malls will have to function at a lower level revenue; some will become vacant.

"Consider J.C. Penney. The department store chain recently announced 140 upcoming store closings, but could end up closing more locations, CNBC reports."

Read more: http://nreionline.com/cmbs/jc-penney-closings-could-become-critical-issue-lower-quality-malls