Real Estate & Investment Perspective by Karen Lee Bertiger
Strategic Consulting
Completed foreclosures decreased 40% in December, according to the December 2016 National Foreclosure Report released by CoreLogic, a property information, analytics and data-enabled solutions provider.
Completed foreclosure dropped from 36,000 in December 2015 to 21,000 in December 2016. And foreclosure inventory also dropped significantly by 30% annually, according to the report.
http://www.housingwire.com/articles/39211-completed-foreclosures-drop-40-in-december
“One of the largest apartment landlords in the U.S., Apartment Investment & Management, filed a civil lawsuit against Airbnb, a short-term rental app.
The suit, filed in California and Florida, alleges that Airbnb is encouraging tenants to violate their leases by renting out units on the site, creating unsafe conditions for other tenants, according to an article by Laura Kusisto and Greg Bensinger for The Wall Street Journal.”
Let’s keep an eye on this trend between now & early 2017. There are some big changes on the horizon. Housing inventory is very low & lenders are working with borrowers to avoid foreclosures.
http://www.housingwire.com/articles/38474-corelogic-completed-foreclosures-reverse-trend-increase
Do you golf? Somebody always asks that question. My response is that I have clubs. Still do not have enough time to actually use them, but I have a set. We have been members of two other golf clubs, prior to the one we belong to now. My husband is the only person in this family who actually has the time to golf. Why we needed to belong to more than one club at a time is a point of debate. If you are completely honest with yourself, you may have to admit that you too do not have enough time to play golf regularly & join a club because golf takes too much time. I would have to say that’s my guess about why participation in the sport has dropped off. Golf takes about twice as much time as tennis. Maybe a difference of 3-4 hours per week. Multiplied over a year that amounts to 150-200 hours. You need to be retired or POTUS to be able to do that unless you devote every weekend to it, which won’t make your spouse happy if they are not playing with you. Younger people in their prime working hours look at that time commitment and think of what else they could be doing – working their way up at their company or building a business. And when will you find time for your family commitments? Real estate can be an ideal business and investment!
A recent article in Bloomberg News titled “Can You Trust Statistics on U.S. Housing” points out that the stats generated by the government are actually more like looking in the rear-view mirror due to the nature of the process of buying a house which can take months of preparation, actually viewing properties and then the negotiating and closing.
I would add that certain stats purport to measure the same thing, but have different methodologies. You definitely need to know the basis for measurement. By the time the numbers show a definitive uptick indicative of a trend, you may already be behind the curve.
Better to watch and analyze true job growth and where it’s happening!
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