update Mar 27,2020 NewHampshireREIA.org

Weekly update March 27, 2020 for NewHampshireREIA.org

National REIA Statement on COVID-19 and Housing Providers

The National Real Estate Investors Association, its Chapters and Affiliates, and over 40,000 members, encourage all residents who are in financial distress to proactively contact the owner or manager of their home prior to April 1st or the date upon which rent is due.

News for Investors – Real Estate News Brief 

In her most recent weekly Real Estate News News Brief, Kathy Fettke reminds us that we’re in an “unprecedented situation right now” as the Coronavirus threatens the health & safety of everyone in the world. In her brief, she covers several topics including the coronavirus, a tax day reprieve, mortgage moratoriums and stay-at-home restrictions.

Essential vs Non-Essential Businesses During Shelter in Place Orders 

There has been a lot of justified discussion (in light of the Coronavirus pandemic) about what constitutes an “essential” or “non-essential” business during a “shelter in place” order. While we most certainly know that in most cases, the provision of rental housing is an essential function – especially when it comes to the health & safety of residents. That being said, The National Law Review recently published an article about the issue and while they say the answers are not always clear or consistent, there are steps you can take to be prepared if and/or when your local jurisdiction issues a “shelter in place” order.

Zillow Pauses Home Buying in Response to Market Uncertainty

Zillow recently announced that it will “pause” home buying in the markets where Zillow Offers operates. They said they’re responding to local public health orders related to the Coronavirus and their desire protect the health & safety of their employees, customers and partners.

Housing Starts & Building Permits Down Slightly

The U.S. government is reporting that privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,464,000, which is 5.5% below January’s revised number. However, it was 13.8% higher than one year ago.

Existing-Home Sales Up 6.5% in February

The National Association of Realtors is reporting that existing home sales were up 6.5% in February which they say that while encouraging, it is not reflective of the current economic turmoil brought on by the Coronavirus.

New Home Sales in February Up 14% from 2019

The U.S. Government is reporting that sales of new single-family houses in February, 2020 were at a seasonally adjusted annual rate of 765k, which is 4.4% lower than January’s revised rate, but is 14.8% higher than one year ago.

RENTcafé Says Rents are Up 3.2% Year-Over-Year

RENTcafé says while the market will likely be affected by the Coronavirus pandemic, the national average rent in February was 1,468, up 3.2% from one year ago.

Foreclosure Starts Hit Lowest Level on Record in February

Foreclosure starts hit their lowest level on record in February, this according to Black Knight’s latest “first look” report. Foreclosure starts fell 25% in January hitting their lowest level on record since Black Knight began reporting it in January 2000.

U.S. Ranks First in the World in Health Security

Infographic: With the Coronavirus pandemic affecting our nation & world, it was reassuring to come across this recent infographic from Visual Capitalist pulling data from the 2019 Global Health Security Index. It ranked 195 countries on health security with the United States ranking first in the world.

Don’t forget our good friends at…

Don’t forget our good friends at Home Depot for Construction Tools and Materials, Arcana Insurance for our Properties & Rent Perfect to avoid the Headaches that not Vetting a Tenant can result in!

HD_GLThe Home Depot® is the world’s largest home improvement specialty retailer. The Home Depot offers customized cost reduction solutions that target and meet the evolving needs of professional customers involved in residential and commercial construction, and facilities maintenance. Get access to The Home Depot’s Pro Xtra Loyalty Program, NREIA rebate incentives, volume pricing and more. *2% CashBack on all purchases twice a year. *20% off All paint, at the Cash Register. *Special Appliance Pricing with our Members Only catalog. *Access to the “Bid” room on purchases over $1500!

Arcana’s approach to your investor portfolio is unique. Our automation is innovative and Arcana’s ease of use systems are exceptional. We provide you 24/7 access to our effortless Web based insurance system which puts convenience in your hands. The simplistic underwriting with no inspections or photos required makes underwriting quick and takes rating and coverage confusion out of the equation. Our distinctive monthly or annual premium payment plans are essential in this day and time and keep the money in your pocket.

All of Arcana’s Underwriting team are licensed and offer over 105 years combined experience. We utilize outstanding Carriers with proven integrity, strong ratings, and financial strength; paired with our team of proficient Underwriters to skillfully develop coverage programs. Our innovative approach to investor programs in the industry ensures your risks are accommodated for and service is done in a timely manner.

Program Highlights Include


  • Comprehensive Property and Liability Coverage.
  • Flexible Insured Values.
  • No Underwriting, No Inspections, No Photos. Only Address, Value, and Date to Begin.
  • Available Flood Coverage. No Waiting, Application or Elevation Certificate.
  • 24/7 On-Line Access – Quote, Bind, Print certificates.

Now Rent Perfect!ISC_CINISC (Investigative Screening & Consulting) Connect is the solution rental property owners and managers have been crying out for. We’ve combined the hands-on human element of investigative techniques we’ve always been known for with the speed, convenience, and cost-cutting power of the digital age to provide you with an all-in-one, mobile web-enabled screening process. Now National REIA members receive a discounted $0.95 set up fee. There is a reason so many national and local chapters are turning to us for help. Try our platform for yourself today and see why it’s become the one tool hundreds of property owners and managers can’t live without.

Now Rent Perfect!

Storm Prep, next Meet 12/6 7-8:30pm & Weekly Update November 29, 2019

Don’t forget to Renew your Membership in MassRealEstate.net and/or NewHampshireREIA.org if you’ve Expired, otherwise you’ll lose those important Benefits, especially the 4 Home Depot programs. Thanks, Mike

  1. Fellow Landlords, the first thing I do in Preparation for a Storm, Like the Nor’Easter we’re having right now (8:36pm 12/2) is to make sure all our Rentals have: New Shovels. Plenty of Salt and Sand. & The understanding that I’ll have someone get to the Properties that I have taken care of (Not the Single Family Houses we rent) and if someone needs to get out before they’re Plowed ad Shoveled they now have the equipment right there!

2. Our next meeting is Movers and Shakers at Kelly’s Roast Beef, 165 Endicott Street, Danvers MA 01923 Friday, December 6, 7-8:30pm

Be careful in this storm and I look forward to see you this Friday, Mike Hurney, Director MassRealEstate.net & NewHampshireREIA.org PO Box 307, Marblehead, MA 01945

3. Weekly Update November 29, 2019

Existing Home Sales Up 1.9% in October
The National Association of Realtors is reporting that existing home sales were up 1.9% to a seasonally-adjusted annual rate of 5.46 million in October, which they characterize as a slight recovery from the declines seen last month.  Click here to read more.
Top Metros for Millennials
It has been a few weeks wince we’ve talked about Millennials so we don’t want them to feel left out.  According to recent number-crunching form Realtor.com, there is a “sea change happening” among millennials s and it’s causing repercussions across U.S. housing markets.  Click here to read more.
Single-Family Rentals Rising on Low Supply
Citing data from Corelogic, CNBC’s Diana Olick reports on the supply and demand for single-family home rentals.  Accordingly, U.S. single-family rents increased 3% year over year in September. Click here to read more.
New Geographic Mobility Data Reveals Moving Trends
We have to admit, there are some pretty intense data in here that might cure for insomnia or predict your next out of state real estate investment.  Indeed, the U.S. Census Bureau recently released their 2019 CPS ASEC Geographic Mobility detailed table package and updates to their historical tables and historical graphs – in other words, the movement of people from one location of residence to another.  Click here to read more.
Minority Homeownership Increases in Q3
The NAHB’s Eye on Housing is reporting that new data from the Census’ Housing Vacancies and Homeownership Survey (CPS/HVS) says minority homeownership increased in Q3 2019 to 48.3 percent, up 0.9 percentage points from the third quarter of 2018.  Click here to read more.
Cost of a Comfortable Retirement in America
Saving for retirement is on the minds of most Americans, however what that retirement looks like and how much it costs varies across the nation.  The folks over at howmuch.net say that some parts of the country are “friendlier on the wallet” than others when it comes to retirement. Click here to read more.
HUD Asks FTC to Investigate Websites Selling Assistance-Animal Docs
We have posted about the seriousness of service animals many times over the past few years.  And now, the U.S. Department of Housing and Urban Development (HUD) is seeking action against online companies that profit from selling sham assistance animal documentation at the expense of rental housing providers and renters who have legitimate needs.  Click here to read more.
Water Heaters Save Energy One Drop at a Time
Infographic:  Water heaters…they’re either a potential time-bomb in that flip you just bought or an old friend in your basement.  However, if you ever need to replace one, what do you replace it with? Click here to read more.

Weekly Update November 22, 2019 AirBnB loses? Construction spending up (no kidding!) & more…

Weekly Update November 22, 2019 AirBnB loses? Construction spending up (no kidding!) & more… from our friend Brad Becker

Airbnb Spent Millions, Loses Fight in Jersey City 

We first posted about this last summer when Airbnb announced that they were fighting back against Jersey City (a NJ suburb of New York City) over new laws that severely limit short-term rentals.  Now, fast forward to this past election day when the measure was soundly upheld (a defeat for Airbnb) by voters with over 69% of the vote.  Click here to read more.

Construction Spending Up in September 

 The U.S. government is reporting that total construction spending in September was estimated at a seasonally adjusted annual rate of f $1,293.6 billion, which is 0.5% above August’s revised number.  Click here to read more.

Pending Home Sales Up 1.5% in September 

The National Association of Realtors is reporting that pending home sales increased 1.5% in September, which they attribute to historically low mortgage rates playing a significant role in marking two straight months of gains.   Click here to read more.

Zumper’s National Rent Report for November ’19 

Rental information site Zumper recently released their National Rent Report for November, 2019 showing that the median national rent for 1-bedroom apartment was $1,237 (down 0.3%) and the median two-bedroom rent was $1,480 (down 0.3%).   Click here to read more.

Zombie Properties less than 3% of All Foreclosures 

According to the latest Vacant Property and Zombie Foreclosure Report, ATTOM Data is reporting that there were over 1.5 million (1,527,142) vacant single-family homes and condos in Q4 of 2019.   Click here to read more. 

ABODO Says One-Bedroom Units Rebound in November 

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in November was $1,071.  Click here to read more.

Best Small Cities in America 

What are the best “small cities” in America?  Well, of course WalletHub put pen to paper to find out!  They say “no two small cities are made equal” but which ones stand out among the rest?  Click here to read more.

What $1 million Gets You in Cities Across the Country 

What does $1 million get you for a home in different cities across the county?  Well, Zillow says what that home looks like depends heavily on a town’s character, its building history, market pressures, legal guidelines and demographics.  Click here to read more.

The History & Future of Wifi 

Infographic:  Wireless fidelity, aka WiFi…We practically take it for granted nowadays.  Whether we’re looking up property records while sitting at a local Starbucks or crunching data at the office most of us use Wifi at some point during the day.  So, what is the history & future of wifi?  Click here to read more.  

Contractors, here’s how you raise markups

If you’re a contractor that is looking to raise your markup, you probably fall under one of two categories. The first is the slow and steady increase of pricing over time. This is the safest option because you’re not alienating your client base, however, how do you know when to stop? It’s not a very accurate means of getting a feel for the market. The second, is the contractor who doesn’t really calculate increases and just decides on new prices. Then, when it’s time to collect money on a job, they lack confidence and are often negotiated down because they truly can’t explain where the numbers came from.

 

Below are the steps to calculating appropriate markups you can confidently stand behind in any transaction.

 

 

 

  • Decide it’s time to stop guessing about how much you should charge to be profitable
  • Take the time to calculate the markup you need to stay in the green, support your lifestyle and retire at a reasonable age.
  • Always keep records of your direct costs to build projects and then use those figures combined with the markup you’ve already calculated to establish your selling point.
  • Confidently offer your price to customers and stand by it, knowing your skills and due diligence of calculating prices has not been random.
  • If every time you try to sell something your price drops, accept the fact that you may need better sales training. There are all kinds of sales courses online that can help you.
  • Be open to finding a new market to work in if your current market isn’t willing to pay for the prices you’ve offered.