BBQ/Rehabbed House Tour August 29, 2017 5:30 – 8pm

Email that just went out 8/18/2017 9:36am
Good morning,
We’re looking forward to see you at our BBQ/Rehabbed house tour, Tuesday, August 29, 5:30-8pm There’s a lot of talk, webinars, seminars but THERE IS NO SUBSTITUTE FOR ACTION! You’re welcome to join us and see how this Killer Deal came to fruition!
By the way, this Summer and our opportunity for outside construction is slipping away (my projects seem to be taking longer and longer) so you may not want to squander your time.
on the National scene…
Federal Court Approves Class Action on Ohio City’s Illegal Home Inspections
A lawsuit on behalf of property owners filed by Ohio’s 1851 Center for Constitutional Law has resulted in a federal court certifying a class-action lawsuit against a Northeastern Ohio city that says “all homeowners who were forced to endure government searches as a precondition to the sale of their homes are entitled to demand refunds of illegal “Point of Sale” inspection fees.”
More Smaller Homes Being Built
A recent Housing Perspectives from Harvard’s Joint Center for Housing Studies says that even though overall construction is down, construction of smaller homes (under 1,800 sq. feet) has actually increased 20% in 2016.
U.S. Construction Spending Dips in June
The U.S. Census Bureau is reporting that total construction spending in June was estimated at a seasonally adjusted annual rate of $1.2 trillion, which is 1.3% lower than May, but is 1.6% higher than June 2016.
ABODO: Nationwide Rents Trending Down
National apartment listing site ABODO recently reported that the median nationwide rent price decreased in July to $1,013 for a one-bedroom apartment.  Glendale, AZ saw the largest drop with a 10.7% decrease in August over July’s one-bedroom rents, to $744.
Profitably Investing in Farmland
The Lexington (KY) Herald-Leader is reporting that a group called American Farm Investors is buying up tracts of farmland in central Kentucky which they lease back to tenant farmers, who in turn farm the land and pay rent from their proceeds (not sharecropping).
Do Tiny Houses Have a BIG Future?
By now we’ve all heard of so-called “tiny houses.”  But are they a passing fad or do they really have a future.  Recently Curbed posed that question in an article “Tiny Houses: Big Future or Big Hype” where they looked deeper into the industry.
US to Experience Total Solar Eclipse on Aug 21st
On August 21st, the entire continent will experience a solar eclipse – some will even see a total eclipse which hasn’t been seen in the US since 1979.  During this natural phenomenon, the moon will completely cover the sun and the sun’s tenuous atmosphere (the corona) can be seen and will stretch from Salem, Oregon to Charleston, South Carolina. Outside this path people will still see a partial solar eclipse where the moon will cover part of the sun.
Zumper’s National Rent Report for August
Rental information site Zumper recently released their National Rent Report for August showing that the median national rent for 1-bedroom apartment was $1,176 and $1,399 for a 2-bedroom apartment.
84% of Americans Say Purchasing a Home is Good Financial Decision
Infographic:  This shouldn’t come as a shock to anyone, however it is always good to see these numbers in black & white.  The National Association of Realtors’ recent 2017 Housing Pulse Survey found that 84% of Americans say purchasing a home is a good financial decision – the highest since 2007!
Mike Hurney, Director, MassRealEstate.net/NewHampshireREIA.org PO Box 307, Marblehead, MA 01945

Material/Advice Directory: Southern NH, Home Depots

Salem, NH:

Storm Doors & Windows – make sure you see Shannon at the ProDesk, she’s that expert!

Decks – you’ll be impressed with Jim at the ProDesk, says he can do any deck in his head in under 5 minutes…

Londonderry:

Flooring – Keri, Pro Department Supervisor, Knowledgeable and best prices on all flooring, especially wood, for our NewHampshireREIA.org Pro members.

Manchester:

Estimates and Stock lists ASAP – Heather, Pro Department Super.

Merrimack:

Appliances – Rich at their ProDesk, Extremely knowledgeable and unbeatable prices, especially on quantities.

Nashua, Coliseum Ave:

Corey will get you in and out of their store (with the right material) and back to your project where you’re making money!

Nashua, DW Highway:

Madaline, Store manager says she’s got the best ProDesk staff: Marie, Amy & Dave ready to help you at the highest volume Home Depot!

Don’t forget to make sure you’re cards and accounts are set up correctly… You can email me Mike@NewHampshireREIA.org and we’ll make sure you’re info is ready for your:

  • 2% cashback twice a year.
  • 20% off paint at the cash register.
  • Up to 25% off Appliance “Suites” (that’s a package of purchasing all four kitchen appliances at once.)
  • Access to the “Bid Room” for orders over $1,000.)

all these discounts and more for only $99./year at NewHampshireREIA.org !

REDFIN Barchart on buying sight-unseen…

Remember laughing at younger Investors who think they can do everything from their keyboards, well guess what… (Let’s pay attention to this!)

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7/7/2017 Weekly Real Estate Roundup

National Home Price Index Sets Record for 5 Consecutive Months
For the month of April, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.5% annual gain.  Their 10-City Composite annual increase came in at 4.9% and their 20-City Composite posted a 5.7% year-over-year gain.
Cities with the Best & Worst Drivers
Bad drivers are seemingly everywhere.  And when pressed, we all probably consider ourselves good ones…right?  Well, the folks over at QuoteWizard recently ran the numbers for America’s most 75 populous metros to see which has the best and worst drivers.
Where are Millennials Buying Homes?
As the oldest millennials are entering their mid-30’s they find themselves front & center in the U.S. housing market due to being the largest living generation of adults in America, today.  But, are they finally moving from being predominate renters to homeowners?
May’s Construction Spending Up 4.5% from 2016

The U.S. Census Bureau is reporting that total construction spending in May was estimated at a seasonally adjusted annual rate of $1.2 trillion, which is 4.5% higher than May 2016.
The 20 Hottest Real Estate Markets
With inventories at record lows and home prices edging higher Realtor.com recently put out a list of the 20 hottest markets so far, this summer.  They looked at the nation’s biggest metro markets to determine with are buzzing with activity.
CoreLogic: Home Prices Up 6.6% in May
According to the latest CoreLogic Home Price Index Report, home prices across the country rose 6.6% year over year for May and are up 1.2% from April.  In addition, Corelogic predicts that home prices will increase by 5.3% on a year-over-year basis through May 2018.
Apartment Demand Surged to a Near-Record Highs in Q2
A new report from RealPage and Axiometrics says apartment demand surged to a near-record volume in Q2 2017, saying essentially that occupancy is full and the annual pace of rent growth has stabilized.
Great Photos Help Sell Real Estate
The old saying “a picture is worth a thousand words” is absolutely true. Great photos can help sell properties. But bad ones can drive potential buyers away before they even tour a property. Too many sellers and their agents give short shrift to photos. With just a little care and thought, anyone can take attractive real estate photos that entice buyers.
Best & Worst States to Make a Living
Infographic:  What are the best & worst states to make a living?  The folks over at MoneyRates.com ran the numbers and ranked our fifty states based on these five factors; cost of living, workplace safety, state tax burdens, median wages and unemployment rates.

Estimating & small bites 7/7 7-8:30pm, Market update, haves and needs

This evening
we get together and see what’s going on, share our latest successes and see if there are any partnering/services others can use.
1. Update on where the market is headed and more importantly what I do to avoid getting stuck in a “Musical Chairs” situation (that’s the game where each time the music stops there is one less chair – no place to sit, you’re out. The equivalent in Real Estate would be –  I’ve got to buy a house because I need a place to live, 1031 exchange limits are coming up fast or I’ve got to have a rental right away. But the market is so hot that properties coming on the market are bid up, way over asking price (way over actual value too) so it doesn’t make sense even if there was the “musical chair” to sit on.
Case in point – one of our speakers last month had “luckily” gotten an offer accepted on a 2 family in Lowell that was listed for $428,000. (Tax assessed $295,000) accepted offer for $499,000:-( I know rents are high because of availability but how could this 2 family ever “Cash Flow” (positive)? So, only a Retail buyer could do this who would live there and count on long term appreciation, also it might not go through unless the Financing company has it Appraised high enough to do the purchase loan.
Good article that gives a little insight to the current Hot market: Boston Globe July 2, 2017 “MASS. HOME PRICES REACH RECORD HIGHS” KATHLEEN CONTI basically “… selling might be easy but buying a new place to live in a market with overcrowded open houses and bidding wars is discouraging.”
This evening we’ll have the local market update and if you’d like a quick analysis of your “farm” (area where
you’re working your Real Estate) send me a quick email. At least before 6:00pm today for our meeting tonight at 7pm;-)
2. Round Robin where everyone has a minute to let us know what you have and need.
3. Estimating Rehab/Construction Time/Costs. How have you been estimating and which Software/Apps are you using?
4. I’m starting a lot of kitchen work with Peter THE kitchen Design/Build guy who hosts our meetings. I’ll have an update how you can Fast-Track your projects in the area that has the most potential payback, the kitchen!
Also a “small bite” technique where you can work in phases towards completion which are independent. In other words, gutting an entire house leaves you at the mercy of the smallest segment of the work.
e.g. One of our Contractors had a shipment of custom windows come in that were frosted (for a kitchenwith a landscaped yard to look upon). Mistake in ordering between the supplier and manufacturer which they’ll eat. However it takes 6 weeks even when fast tracked! So the walls can’t be roughed, plumbing stops, electrical stops, wall cabinets wait, base cabinets and appliances are delayed or stored (hopefully not dented or scratched) the owner is ticked off and the subs can’t sit around so they’re not available at a moments notice. Maybe “small bite” technique could’ve helped. Incidentally I offered him 25 cents on the dollar for those windows being returned…
More tonight Friday, July 7, 2017 7-8:30pm, I look forward to see you at Kelly’s Roast Beef for Networking, Updates, soft drinks, wraps and YOU!
165 Endicott Street, Danvers, MA 02123 7-8:30pm
No charge to Members, Only $5. for Guests (tip for our waitstaff) or Only $99./year to join.

PO Box 307
Marblehead MA 01945
USA

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