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Our Next Meeting In:
Tonight Rents up, Update Asset Pro, Fence & Most Joy$
(voice message that went out yesterday 4/25, 1:11pm)
Good Morning,
There are a few unique challenges for us out there, let’s get together and see how we’re meeting them.
*Update on Asset Protection?
**Rent Increases?
***What do you do when a Neighbor’s new fence location is in question?
10 Remodeling Projects that bring homeowners the MOST Joy – and Cash.
Tomorrow evening, Tuesday, April 26, 2022 6:30-9pm we’ll cover those problems and more!
I haven’t paid much attention to the Stock Market increases of the past two years which seem automatic and very HIGH! But I am watching those gains erode 2022 YTD
Lincoln’s got some STATs on the Stock Market for us that I’m sure you’ll find interesting! in addition to his Real Estate Market Report!
OK Market up for 2020 & 2021 maybe down in 2022YTD?
So what?
I’m a Real Estate guy and Real Estate is what I watch closely.
But I believe there’s a parallel between the Stock Market and Real Estate, that suggests the insidious nature of market downturns.
Will Real Estate values & Rents flatten out or even slowly drop? Despite what “experts” are saying?
Maybe, Maybe not.
*Let’s take a look at what we can do as far as Asset Protection with Attorney Jonathan and Equity stripping with Mike M & his mortgage company!
**Next we’ll look at Rents, do you think you’re Low or High. Well think no more, I use 3 methods to determine if I’ve got the right Rent amount for our Tenants and I’m glad to share that with our Members!
1. First is Year over Year difference in Overhead (RE Tax, Insurance & Utilities).
2. And Comparing similar Units and what they’re charging now. There’s some software systems that given a radius to your Units and the Amenities you have will tell you where your rents are in comparison!!!
***Then We’ll be spending a little time on a Case Study we’ve put together on Boundries and Fences. There’s a very easy way to handle this, without alienating all the Parties!
Networking is SO important! I see a lot of you guys out there between our meetings and although we’re busy let’s make time for a slice of Marco’s famous Pizza and share our success! I look forward to seeing you soon, Mike
Mike Hurney, Director MassRealEstate dot net & NewHampshireREIA dot org PO Box 307, Marblehead, MA 01945
Next meeting IN PERSON: Update on Asset Protection? Rent Increases? Fences & Boundries?
& Networking
No Charge to Members, Only $25 for Guests or only $99/year to join.
DesignGroup47.com #47 Newbury Street ( Route 1 North, just before Sonic Carhop) Peabody, MA 01960
Tomorrow Tuesday, April 26 6:30-9pm
PS last month Peter V. won the $50 gift card for Marco’s new Restaurante’ in Middleton, after correctly guessing the items our Home Inspector challenged us with. This month???
PS Please check that your Membership in MassRealEstate dot net is current, I’m having to renew a couple of folks just to get their Home Depot rewards (significant $) and with expired members I can’t get them a check:-(
Next meeting Tuesday, April 26, 2022 6:30-9pm
Asset Protection, Network & Security 4/26
Good morning,
We’re looking forward to see you at our next IN-PERSON meeting Tuesday, April 26, 2022 6:30-9pm where we’ll be updating changes in the law for Estate Planning and how they could impact you and your Estate! There may even be changes in your circumstances that need review?
He’s back! We’re fortunate to have Attorney Jonathan who spoke to us in 2019 and revised Wills, Health Care Proxys and POWs for Robbie and I.
Mike Hurney, Director MassRealEstate.net & NewHampshireREIA.org PO Box 307, Marblehead, MA 01945
PS from Connell, Bedford, NH: Hey Guys, May the blessings of joy, happiness and peace of Easter fill your heart today and every day, Happy Easter!
Weekly Update April 8, 2022
Construction Spending Up 0.5% in February – The U.S. government is reporting that total construction spending in February, 2022 was at a seasonally adjusted annual rate of $1,704.4 billion, which is 0.5% higher than January’s revised estimate and 11.2% higher than one year ago. Click here to read more.
S&P CoreLogic Case-Shiller Index Saw 19.2% Annual Home Price Gain in January ’22 – The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 19.2% annual gain for January, 2022, another near record high. Click here to read more.
Zumper’s National Rent Report for March ’22 – Rental information site Zumper recently released their latest monthly National Rent Report showing that their median national rent for 1-bedroom apartments in March, 2022 was $1,400, up 12.2% year-over-year and the median two-bedroom rent was $1,723 up 13.8%, year-over-year. Click here to read more.
Affirmative Defense has Morphed into Pay to Stay – National REIA’s Charles Tassell was a recent guest on the Scott Sloan Show (WLW 700 AM, Cincinnati, Ohio) to discuss the languishing covid impact on housing. In 2021 emergency rental assistance funds began to slowly trickle out of non-profit agencies. Click here to read more.
First-Time Buyers Want Double Sinks & Pantries in the Kitchen – The NAHB’s Eye on Housing says first-time home buyers want double sinks and pantries in the kitchen as the most popular of 30 kitchen features listed in the recent What Home Buyers Really Want study. Click here to read more.
Ohio Civil Rights Commission Handed Defeat in Tenant vs. Landlord Case – Landlords take notice; A prominent Ohio law firm recently obtained a unanimous jury verdict (8-0) to defeat a case of claimed retaliation in response to a tenant’s claimed request for a disability accommodation that was met with a non-renewal of a residential lease. Click here to read more.
Businesses are Relocating to the South – We have seen the posts about Americans moving at a rapid pace to areas in the South & West that have better all-around climates. A new report from FOX Business says the “Sun Belt” is becoming a hot spot for business relocation. Click here to red more.
FHFA Says Home Prices Up 1.6%, Up 18.2% Year-Over-Year – According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 1.6% in January, 2022 and were up 18.2% from one year ago. Click here to read more.
Crude Oil Pipelines and Refineries in the U.S. & Canada – Infographic: Today’s infographic from the Visual Capitalist reminds us that pipelines are the primary method of transporting & delivering crude oil and its derivative products swiftly to refineries and businesses. Interestingly, the U.S. & Canada alone are home to more than 90k miles of crude oil and petroleum product pipelines (enough to go around the Earth 3x). Click here to read more.
Hot market seems to continue – 4/8/22 Peabody
Active – Single Family Listings: 11 Avg. Liv. Area SqFt: 2135.27 Avg. List $: $671,591 Avg. List $/SqFt: $329 Avg. DOM: 15.45
Sold – Single Family Listings: 51 Avg. Liv. Area SqFt: 1776.24 Avg. List $: $571,728 Avg. List $/SqFt: $344 Avg. DOM: 23.98 Avg. DTO: 15.33 Avg. Sale $: $601,415 Avg. Sale $/SqFt: $363
Recommended by Troy – A great book is called “Give and Take: A Revolutionary Approach to Success” by Adam Grant. It focuses on how success is increasingly dependent on how we interact with others?
***********
Weekly Update 4/4/22
Pending Home Sales Dip 4.1% in February The National Association of Realtors is reporting that pending home sales were down 4.1% in February, 2022. Click here to read more.
How Home Depot Cracked the Home Professional Market A recent video story in the Wall Street Journal’s The Economics of…” highlighted how Home Depot has become the dominant player in home improvement by catering to its professional customers.
Treasury Says Most Rental Aid will be Exhausted by Mid-Year Reuters is reporting that the U.S. Treasury Department said on the $46.6 billion rental assistance program has disbursed/obligated over $30 billion to renters & landlords through the end of February, 2022. Click here to read more.
New Home Sales Down 2% in February The U.S. Government is reporting that sales of new single-family houses in February, 2022 were at a seasonally adjusted annual rate of 772k, which is 2% lower than January and is 6.2% lower than one year ago. Click here to read more.
Building Material Prices Up 31.3% Since January 2020 The NAHB’s Eye on Housing says the prices of goods used in residential construction (excluding energy) rose 1.6% in February, according to data from the Bureau of Labor Statistics. Click here to read more.
Single-Family Rent Price Growth Hits Record High According to CoreLogic’s latest Single-Family Rent Index (SFRI), U.S. single-family rent prices started 2022 strong, increasing 12.6% year over year in January compared to 3.9% in January 2021. Click here to read more
Who Should You Listen To, and Should You Believe Them? The Chicago Creative Investors Association’s Jane Garvey says real estate investing is a complex business with many moving parts. The intricacies of the various businesses under this umbrella description vary from state to state, town to town, subdivision to subdivision, and even building to building. The requirements change by the day as people in regulatory positions feel the need to add restrictions via laws and mandates. Click here to read more.
Personal Income by State According to recent data from the U.S. Department of Commerce’s Bureau of Economic Analysis, overall state personal income increased 7.4% in 2021 after a 6.6% increase in 2020. Click here to read more.
Which Counties are Growing in America? Infographic: We post a lot about where people are moving to and from. Today’s infographic from the U.S. Census Bureau takes a look at the percentage change in population for all U.S. counties from 2020-21. Click here to read more.
(4:16pm Friday) Good afternoon,
It’s about time for our Networking, I see a lot of you guys out there between our meetings and although we’re busy we can always make time for a slice of Marco’s famous Pizza and share our success! I look forward to see you soon, Mike
Mike Hurney, Director MassRealEstate dot net & NewHampshireREIA dot org PO Box 307, Marblehead, MA 01945
Next meeting IN PERSON: Home Inspectors, Lead Inspector, Locks & Security, Rental Assistance Form & Networking Tuesday, March 29 6:30-9pm No Charge to Members, Only $25 for Guests or only $99/year to join.
DesignGroup47.com #47 Newbury Street ( Route 1 North, just before Sonic Carhop) Peabody, MA 01960
Weekly Update 3/25/2022
1. Existing Home Sales Down 7.2% in February – The National Association of Realtors is reporting that existing home sales were down 7.2% in February to a seasonally-adjusted annual rate of 6.02 million (down 2.4% from one year ago). Click here to read more.
2. Housing Starts Up 22.3% Year-Over-Year – The U.S. government is reporting that privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,769,000, which is 6.8% higher than January’s revised number and 22.3% higher than one year ago. Click here to read more.
3. Metros with the Cheapest Homes for Sale – There are still areas across the country where a good deal on a home can be found. It doesn’t mean the house is any less desirable than in a more expensive market, it simply means that there are places with moderate costs of living where prices are more reasonable. Click here to read more.
4. Yardi Says Multifamily Rent Gains Solid as Occupancy Rises – According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in February increased $10 to $1,628 (up 15.4% year-over-year). Click here to read more.
5. Local Market Monitor’s National Economic Outlook for March ’22 – Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. Click here to read more.
6. Mortgage Applications Take a Plunge with Surging Interest Rates – CNBC’s Diana Olick says rising mortgage interest rates are impacting mortgage applications, particularly refinancing demand. Click here to read more.
7. This One Thing Makes Being a Landlord Easier – On a recent episode of the Rent Perfect podcast David Pickron says the on-boarding process can be tedious, making you prone to committing mistakes. Click here to read more.
8. Ten Features that Sell Homes for More than Expected – According to Zillow’s 2022 Home Features That Sell report, listings that feature amenities associated with energy efficiency and sustainability can help a home sell faster. Click here to read more.
9. 10 Real Estate Calculations Every Investor Should Know – Infographic: Fortune builders says there are several must-know numbers and calculations if you ever hope to analyze investment properties effectively. So, what are the 10 calculations every real estate investor ought to know? Click here to read more.
Weekly Update 3/18/22
Are we in a long-term housing shortage situation?Realtor.com’s Chief Economist, Danielle Hale, thinks that’s the case as part of her recent interview about what’s likely to happen in the housing & mortgage markets in 2022. Click here to read more.
Inflation Continues its 40-Year High The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index was up 7.9% for the 12 months ending in February, continuing a 40-year high streak. Click here to read more.
Black Knight Says Foreclosure Starts 20% Below Pre-Pandemic Levels, Despite Increase. Black Knight’s Mortgage Monitor Report for January, 2022 says that despite a more than 7x increase, January’s foreclosure starts remained more than 20% below pre-pandemic levels. Click here to read more.
How Much Do You Need to Be Rich in 50 Major U.S. Cities? How much income do you need to considered “rich” in the 50 biggest U.S. cities? That’s the question the folks over at GOBankingRates put pen to paper to find out. Click here to read more.
Top 20 Cities for Generation Z Renters. Rentcafe says Generation Z was only the generation to record an increase in renting activity in the past year, up by 21% and representing over a quarter of lease applications nationwide. Click here to read more.
How the Pandemic Has Rocked the U.S. Housing Market.It has been just over two years since the Coronavirus pandemic was officially declared. A recent report from Redfin takes a look at how drastically the housing market changed since that moment in time. Click here to read more.
Top 20 Metros Where Job Growth is Outpacing New Housing Supply. A new report from Roofstock reveals the top 20 metros where job growth is outpacing the supply of new housing. They say in a normal market, there’s typically a six-month supply of houses. Click here to read more.
Spring is Here – Time to Take Care of that Lawn!. Infographic: This Sunday, March 20th, is the first day of Spring! That means now is a great time to start thinking about your property’s landscaping. Whether it’s a rental or that new flip, a good-looking lawn will certainly add value and improve its curb appeal! Click here to read more.
Next meeting IN PERSON: Home Inspectors, Locks & Security, Rental Assistance Form & Networking Tuesday, March 29 6:30-9pm
@ DesignGroup47.com #47 Newbury Street (Route 1 North) Peabody MA 01960 No charge to Members, Only $25 for Guests or $99/year to join.
3/11/22 Weekly Update & Links
1.Construction Spending Up 1.3% in January
The U.S. government is reporting that total construction spending in January, 2022 was at a seasonally adjusted annual rate of $1,677.2 billion, which is up 1.3% from December’s revised estimate. Click here to read more.
2.Buying Versus Renting in America’s Largest Cities
On a recent episode of Real Estate News for Investors, Kathy Fettke says rents are not just making a rebound after a dip during the pandemic, they’re blowing right past the monthly cost of buying a home in more than half of the largest housing markets. Click here to read more.
3.Zombie Properties Down in Q1 as Foreclosure Activity Rises
According to the ATTOM Data’s Q1 2022 Vacant Property and Zombie Foreclosure Report, there were 1.4 million residential properties in the U.S. sitting vacant, representing 1.4%, or one in 73 homes, across the nation. Click here to read more.
4.Construction Industry Adds 60k Jobs in February
According to recent data from the Associated General Contractors of America, construction employment increased by 60k jobs between January and February, 2022, marking the steepest pace in nearly 40 years. Click here to read more.
5.The Typical Home Changes Hands Every 13.2 Years
Redfin says that after steadily rising for a decade, homeowner tenure flattened near its peak in 2021. They point out that in 2021, the typical American homeowner had spent around 13.2 years in their home. Click here to read more.
6.Federal Judge Blocks Oregon’s Ban on Real Estate Love Letters
In early March, a federal judge blocked implementation of a new Oregon law that effectively banned personal letters (aka Love Letters) written by prospective homebuyers to sellers. Click here to read more.
7.You Need to be Marketing
Daniel Hart says full-time investors don’t just spend more time investing, they also take a different approach, in that they treat it as a business. Real estate is actually a people business, that happens to involve houses, so full-time investors know they need to be working with people to create deals, not just browsing listings, or looking at wholesaler emails that pass by. Click here to read more.
8.Oil Prices Surge to Highest Point in 14 Years
Infographic: Just a few years ago, America was a net exporter of oil and had achieved energy independence. However, times have changed and since 2020 the world has seen a steady climb in the price of a barrel of oil as America cut its production. Click here to read more.
Networking, Deal Analyzer & Insurance
Good morning,
I look forward to see you this evening
Important Insurance info! Deal Calculator & Haves & Wants.
Mike Hurney is inviting you to a scheduled Zoom meeting.
Topic: Networking, Deal Calculator & THE Correct Insurance – Monthly MA/NH meeting
Time: Tuesday, Dec 28, 2021 06:30 PM Eastern Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/88028942843?pwd=TnFFNVFGMlBKWjBjUVFZTW1teEtGQT09
Meeting ID: 880 2894 2843
Passcode: 007361
Once a year I try to consolidate all my Property insurance for updated quotes. This seems to pay off sometimes.
First, the “Dec” pages are the Summaries of coverage i.e. Deductible $250. Personal Liability $200,000. Which I was able to change to $1000. Deductible and $1,000,000. Personal Liability, For the SAME premium price!
Next, I remove the amount I’m paying when I send these out for a quote, so the agent doesn’t Low-ball us for the first year.
However
We’ve been disappointed the last few times:
Even more recently Matt read the polices wrong trying to disparage a current carrier.
Thomas was higher for all properties but he did encourage us to get a policy on vacant land.
Salem savings was higher on all properties but said they could cover almost all of them, being a single source:-0
Liberty Mutual redlined everything in Marblehead because of the Harvard study on eminent Hurricanes (flood zone:-(
MetLife will only cover an Owner Occupied and 4 others.
So
When I read a strategy some of my friends have (not Self-Insurance) but a Commercial policy, I thought it may be time to review that option.
This evening, December 28, 2021 6:30 -9pm Jim will have an analysis of that Commercial option with my coverage. Making sure we’ve got ”Rental Reimbursement” which our buddy Steve said, saved him over $90,000. in reimbursement not too long ago!
& a Review for Contractors Insurance:
What coverage do you have?Do you use a Standard Contract? Which is enforceable?
We’re ALL very busy, so you may want to take a few minutes for THIS short review, This evening.
Also
There are 4 ways I’ve used to quickly analyze properties to Purchase. I’ll review those AND John’s Deal Analyzer which is in our Members section of MassRealEstate.net
Very Often folks ask me for a “Hard Money” Lender to finance one of their “Killer” Deals. When I send them to a members website and they input their data, the Lender calls and tells them: “NO, I can’t Lend on that!”
Then they ask me for another Lender and another Lender. Completely missing the Point!
Wouldn’t you like to know in 5 minutes, Upfront, whether You have a Killer Deal and whether you could Finance it?
John will go through his easy to use Deal Analyzer with us, so you’ll know the answers to those 2 important questions on this Zoom call
Finally
Haves and Wants, There are always moving parts in any deal. Sometimes we Underestimate them, Some times we Overestimate them. This’ll be your chance to share either, with your fellow Investors/Landlords/Contractors!
I look forward to see you on Zoom, this evening.
Mike Hurney, Director MassRealEstate.net & NewHampshireREIA.org PO Box 307, Marblehead, MA 01945
PS Glad we took Housing Court Judge Tim Sullivan’s advice for checking on a Tenant!
PPS All you Members of the Military, Veterans & Spouses, have you filled out the new HomeDepot.com/military/ form for your 10% discount? Pain in the butt but it’s a Must-Have starting 1/1/2022
Tuesday, November 30 Networking 6:30-9pm Networking!
On 11/04/2021 12:33 PM Mass Real Estate – Mike Hurney <[email protected]> wrote:
Good afternoon,
1. Which of the (9) Toilets, priced between $179.- $600. would you purchase for a Buy-FixUp-Sell house? which for an Owner Occupied home?
2. When buying Carpet, Home Depot stocks (396 ranging in price between $1/sf and $5/sf)? And when do you NEVER buy padding with it?
3. Which type of Smoke Detector is Approved and which is Dangerous (Ionization vs Photo Electric)?
4. Which of the (16) different kitchen faucets (priced from $99. to $650.) will outlive you? Which need the 30/30 Guarantee?
Folks it’s not always the least expensive.
This next Saturday November 6, from 5-7pm we’ll tour the Top Home Depot Store in our area with Manager Kyle (who’s spoken to us, at our meetings;-). We’ll also be guided by One of the Most Successful Rehabbers in the USA.
We’ll learn How and Why to select:
* Which flooring: wood, laminate, vinyl, porcelain, ceramic or epoxy (98 in stock at Home Depot $1.69 – 42.29/SF)
* Carpet? Texture, Pattern, Berber weave? (396 in stock $1-$5/SF).
* Cabinets? (696 available? $93-$253.)
*Roofing shingles? (11 in stock today $34-$79.60/bundle) What’s a bundle cover? what’s a Square? (Square is 100SF Measurement by Roofers) How many Bundles per “Square” (some are 3, some 4 :-0) Also Venting? & Underlayment??
* Which of (16) Faucets & (9) Toilets mentioned above??
********** This Saturday 5pm we’ll meet at a Kelly’s Roast Beef for a wrap (Buffalo Chicken, Roast Beef, Veggie, or Turkey) and soft drinks on Me! Then The very Successful Rehabber will provide orientation while we dine, then accompany us to help pick the Best items for our projects with Kyle the Store manager!
No charge to Members, only $25/guests or only $99/year to join.
You can Email me, [email protected] for the location we’re selecting, for refreshments and the Home Depot store location!
I look forward to see you soon! Mike Hurney, MassRealEstate dot net & NewHampshireREIA dot org PO Box 307, Marblehead, MA 01945
PS Please check that your Membership is current with us & your CCs are up to date, in your Home Depot accounts. This week I straightened out a “Stale Dated” rebate check for $2800 for a member and confirmed there is NO ceiling on the 2%cashback for a Big builder.
Tony Youngs is coming back to MassRealEstate.net & NewHampshireREIA.org from November 6 – 8 for a 3-Day Bootcamp where he will bring his home study system to life by taking you personally through each step…
Save the date for Tony – Tuesday October 26, 2021 6:30-9pm & November 6,7 & 8, 2021 9-5pm!
I look forward to see you soon, Mike Hurney, Director MassRealEstate.net & NewHampshireREIA.org POP Box 307, Marblehead, MA 01945
You’re welcome to Join us at MassRealEstate.net & NewHampshireREIA.org for Only $99/year and receive all Home Depot Benefits: 2% CashBack on ALL Purchases, 20% off ALL Liquid paint, at the cash register checkout, Access to the Bid Room with purchases over $1500. (usually 7-50% off) and a special Appliance catalogue.
We look forward to see You Tuesday, October 26, 2021 6:30-9pm at DesignGroup47 dot com, 47 Newbury Street (Route 1 North) Peabody, MA 01960
Tuesday, July 27, 2021 6:30-9pm Main Meeting
Friday, July 2, 2021 6:30-8pm Movers & Shakers:
Admission FREE ($5.00 donation for non-Members to cover our tip) Coffee (or soft drinks) and a wrap (turkey, veggie or buffalo chicken) Kelly’s Roast Beef 165 Endicott Street, Danvers, MA 01923 978-774-1897 6:30-8pm PM BEGINNING/INTERMEDIATE Real Estate Investors Review Basic Selling. Where to Invest? Which deals can move your career along the quickest?We’ll then use a roundtable format where each person can pose a dilemma, tell us of a recent success or pass to the next person.Hosted by Mike Hurney, Author of “How to Become a Real Estate Investor in 12 Easy Lessons”See you there! Mike
Lincoln Hurney is inviting you to a scheduled Zoom meeting. Topic: MREIA June Meeting – 6.29.21Time: Jun 29, 2021 06:30 PM Eastern Time (US and Canada) Join Zoom Meetinghttps://zoom.us/j/7712991667?pwd=Rmt2U3hWUTBzVXNZSy8zOFJSSmRZUT09
Short video preview of Max Keller “You’re the Expert”
https://youtu.be/uiVuwbHnvno
New Home Sales Decline Due to Higher Costs
After a significant downward revision for the preliminary March data, April recorded a decline of 5.9% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. The April seasonally adjusted annual rate (863k) was the lowest since June 2020, with the exception of a weather-influenced February report.Residential demand continues to be supported by low interest rates, a renewed consumer focus on the importance of housing, and solid demand in lower-density markets like suburbs and exurbs. However, higher building costs, longer delivery times, and general unpredictability in the residential construction supply-chain are now having measurable impacts on new home prices. In April, the median price of a newly-built home was 20% higher than a year ago, at $372,400. As NAHB has estimated, higher lumber costs alone are increasing new home prices by $36,000 on average.Higher costs have priced out buyers, particularly at the lower end of the market. A year ago, 45% of new home sales were priced below $300,000. In April 2021, only 27% of new home sales were priced below $300,000.
Looking back to the spring of last year, the April 2020 data (570,000 annualized pace) marks the low point of sales for the 2020 recession. The April 2020 rate was 26% lower than the prior peak, pre-recession rate set in January. Sales then mounted a historic surge from April until July, outpacing gains in actual construction. Sales have been above the pace of the post-Great Recession trend since the second half of last year. However, since January the trend has been declining and approaching the prior long-run growth trend (as indicated by the blue dashed line in the graph above).
Sales-adjusted inventory levels remained lean in April, coming in at a 4.4 months’ supply.
Completed ready-to-occupy homes continue to fall as a share of new home inventory. Such homes were 24% of inventory a year ago. They are only a little more than 11% of the total in April 2021.
Moreover, to see how sales patterns have changed in a high demand, low supply market — a year ago, 42% of new home sales were completed construction. In Apr 2021, this share has fallen to 27%. A year ago, 21% of new home sales had not started construction yet. In April 2021, such speculative homes represented 38% of sales contracts.
Regionally on a year-to-date basis new home sales rose in all four regions, up 50.7% in the Northeast, 45.7% in the Midwest, 45.5% in the South, and 3.6% in the West. These significant increases are due in part to lower sales volume during the Covid crisis a year ago.
How Media Consumption Has Changed Over the Last Decade (2011-2021)
Media Consumption in 2021
There are a wide array of apps and life hacks out there designed to help regulate personal internet use and media consumption, but the data suggests they haven’t been working. Today, we consume more media than at any point in time in the last decade.
This data from Recode looks at how many minutes U.S. adults spend on various forms of media, comparing mobile, desktop, radio, television, and magazines.
How Many Minutes are Spent on Media?
In 2021, collective media consumption continues its upward trajectory, and is set to be at the highest it’s ever been. In 2021, overall media consumption among U.S. adults is estimated to be around 666 minutes per day, or 11.1 hours—a 20.2% increase from 2011.
Although media consumption has grown overall, this is predominantly driven by mobile usage. In fact, every category with the exception of mobile has shrunk from their respective peaks. Mobile on the other hand, has grown a whopping 460% in 10 years, from an average daily use of 45 minutes to a staggering 252 minutes.
Consumption by Generation
Disparities in media consumption have a generational aspect that’s worth noting, as well. For instance, older Americans like Baby Boomers still consume media routinely through television. On the other hand, younger cohorts like Millennials and Gen Z tend to consume more through mobile.
Increasing internet use has come with criticism, and is said to be partially responsible for our waning attention spans. With only 1,440 minutes in a day, it remains unknown exactly how many minutes we will continue to direct towards mobile use. But with figures growing 9% last year, we may not have yet reached the peak.
[email protected] Real Estate Investors AssociationPO Box 307, Marblehead, MA 01945, USA
(7:01am) Good morning,
Kris has determined, with an Algorithm, what the sale price will be for Real Estate Properties on the Market. She’s also targeted great investment opportunities in Massachusetts, outside of Boston.
Tomorrow evening Friday, May 7, 6:30-8pm she’ll teach YOU this information and more importantly, How to Use it!
We’ll meet LIVE at Kelly’s Roast Beef, 165 Endicott Street, Danvers MA 01923 Light refreshments and soft drinks provided. Only $5. for non-members (tip for our waitstaff). ALL State Covid-19 Protocols will be followed!
I look forward to see you there for Lincoln’s Market Update, Kris’s Algorithm & Opportune Areas & What we’ve all been working on!
Mike Hurney, Director, MassRealEstate dot net & NewHampshireREIA dot org Po Box 307, Marblehead, MA 01945
Good afternoon, Our next online meeting is on next Tuesday, 3/30/21 6:30-8pm
Mike Hurney is inviting you to a scheduled Zoom meeting.
Topic: Make the RIGHT Offer for BRRRR, Market, Finance trend, Short term, Insurance coverage!
Time: Mar 30, 2021 06:30 PM Eastern Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/87420316768?pwd=OUtzL3hZR0pnQWlEcmJURThFWktpdz09
Meeting ID: 874 2031 6768 Passcode: 795696
Vendors, Market update & Make an Offer.
Vendors
Several times folks have told me of Property Losses, Short Term Rentals & Mortgages that they’ve “Researched”. Then selected a company and Settled, Stayed at or Financed with however based on what they describe I’m sure they could’ve done better with Len, Liann & Mike – Vendors in our Association!
So they’ll have short updates for us, so that we don’t forget them in the Confusion of Needing them!!
Market
Still a very hot market. I’m hearing Tales of Sales that go $50k, $65k and $80k above the Listed price! Lincoln’ll be showing us the Stats.
Making Offers
People still describe to me how they make offers and I think it’s time for a quick review “Making Offers 101” How to quickly Assess Values and know When to “Fold ’em”
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