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

Loris’ Weekly Round-up 5/5/2017

Your Weekly News & Updates
Here is this week’s “Weekly Roundup” from Real Estate Investing Today, the news & views site from the National Real Estate Investors Association.
Real Estate Tops for Long-Term Investment
According to a recent Gallup poll, once again, for the 4th year in a row, real estate remains the top choice of Americans best long-term investment.  The results found that 34% chose real estate, 26% chose stocks, 18% chose gold, 13% chose savings accounts/CD’s, and 5% chose bonds as the best place to out money for the long-haul.  Click here to read more.
Home Sellers Realized Highest Average Price Gain Since 2007
Data powerhouse Attom Data Solutions (parent company of RealtyTrac) recently released their Q1 2017 U.S. Home Sales Report which showed that homeowners who sold in their homes in the first quarter realized an average price gain of $44k, which represented an average of a 24% return on the purchase price.  This is the highest average price gain for sellers since the third quarter of 2007.  Click here to read more.
Average HELOC Faces $250 Increase After 2017 Reset
According to the latest Mortgage Monitor Report from the Data and Analytics Division of Black Knight Financial Services, the average borrower of a HELOC (home equity line of credit) resetting in 2017 will face an average increase of $250 per month over their current HELOC payment – in some cases doubling their current payment.   Click here to read more.

Homeownership & Vacancy Rates Hold Firm

The U.S. Census Bureau is reporting that at the end of Q1 2017 The U.S. homeownership rate stood at 63.6% (virtually unchanged from last quarter) and the national vacancy rate for rental housing was 7% and 1.7% for homeowner housing – both virtually unchanged since last quarter.  Click here to read more.
39 States Saw Increases in Construction Jobs
A new analysis by the Associated General Contractors of America shows that between March 2016 and March 2017 thirty-nine states added construction jobs.  Using data from the U.S. Department of Labor, the AGC noted that while contractors are worried about being able to find enough workers in the future.  Click here to read more.
March’s Construction Spending Up 3.6% from 2016
The U.S. Department of Commerce is reporting that total construction spending in March was estimated at a seasonally adjusted annual rate of $1,21 trillion, which is 3% higher than March 2016.  Private residential construction was at a seasonally adjusted annual rate of $503.4 billion in March.  Click here to read more.
U.S States Without Sales Tax
There are currently five U.S. states without a statewide sales tax;  Alaska, Oregon, Montana, New Hampshire and Delaware.  Using data from the Tax Foundation, the folks over at GOBankingRates put together a quick list of those states along with a caveat for each about the taxes they do in fact collect.  Click here to read more.
Secondary Apartment Markets Outperforming
A recent analysis from John Burns Real Estate Consulting says that secondary apartment markets are outperforming what they call “surban” locations (desirable suburban locations with urban amenities) and that these secondary markets account for the largest current year-over-year rent growth, which they forecast to outperform through 2020.  Click here to read more.
What the kitchen faucet taught me about how to keep great tenants
Blogger:  That late-night maintenance call…So, I got a call last night from Jake – We will call him Jake for purposes of this blog – who handles the majority of the maintenance on my rental properties. My property manager usually just asks Jake to call me when a tenant reports a problem that involves a repair.  Click here to read more.
March’s Existing Home Sales
Infographic:  We recently learned about the record existing home sales that took place in March. Today’s infographic from the National Association of Realtors breaks down those numbers to reveal what exactly is taking place.  Click here to read more.
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