D.C. Metro & National Real Estate News

Nov. 19, 2019

11/19/19

 

 

 

 

DID YOU KNOW?

US manufacturing output fell -1.5% year-on-year in October to mark its weakest month since December 2015. The worry is that a US manufacturing recession causes such a drag that even well-performing sectors like housing get sucked down as well. The good news is that these production numbers look like a nadir. They were made worse by a now-resolved 40-day strike at General Motors, while there has been limited contagion to the rest of the economy. As the US-China trade war escalated last year, US manufacturers sold less stuff and excess inventory began to pile up in warehouses. In response, US firms trimmed output and the build-up stopped. Based on past cycles, this stabilization in the inventory-to-sales ratio suggests that manufacturing output will not need to fall further.

 

DID YOU KNOW?

In one of the most concentrated investigations of discrimination by real estate agents in 50 years since the enactment of America’s Fair Housing Law, Newsday found evidence of widespread separate and unequal treatment of minority potential homebuyers and minority communities on Long Island. The 3-year probe strongly indicates that house hunting in one of the nation’s most segregated suburbs poses substantial risks of discrimination. The investigation revealed that Long Island’s dominant residential brokering firms help solidify racial separations, frequently directing white customers toward areas with the highest white representations and minority buyers to more integrated neighborhoods. Another important reminder to know FAIR HOUSING LAW and practice it consistently.....it is the law!

Posted in Real Estate News
Nov. 18, 2019

11/18/19

 

 

 

 

 

DID YOU KNOW?

US manufacturing output fell 1.5% year-on-year in October, its weakest month since December 2015. Could a US manufacturing recession cause such a drag that even well-performing sectors like housing get sucked down as well? The good news is that these production numbers look like a nadir, made worse by a now-resolved 40-day strike at GM, while there has been limited contagion to the rest of the economy.
As the US-China trade war escalated last year, US manufacturers sold less stuff and excess inventory began to pile up in warehouses. In response, US firms trimmed output and the build-up stopped. Based on past cycles, this stabilization in the inventory-to-sales ratio suggests that manufacturing output will not need to fall further.

 

DID YOU KNOW?

UK new properties coming to market fell by 14.9% compared with November 2018, the largest year-on-year drop since August 2009 and came as property prices fell by 1.3% compared with the previous month. This appears to be driven by the continued BREXIT uncertainty. (Marketwatch) 

Posted in Community News
Nov. 15, 2019

11/15/19

 

 

 

 

DID YOU KNOW?

Amazon cancelled its 2nd Headquarters plans in Long Island, NY, but Facebook just signed a lease at Hudson Yards in Manhattan for more than 1.5 million square feet of office space across 30 floors and 3 buildings and plans to move into the new offices in 2020. Amazon and Apple are planning major expansions too and Google is building a massive extension on the West Side too, in the southern fringes of the West Village. (CNBC)

 

DID YOU KNOW?

Mortgage rates generally track the direction of the 10-year Treasury note. Though the 10-year Treasury yield has fallen over the past few days, it remains at its highest level since September thanks to a brightening outlook for the economy. The most recent mortgage application data from the Mortgage Bankers Association showed a 9.8% increase week-over-week in mortgage application volume. While that uptick was mostly led by refinances, it did reflect a 5% increase in applications for home purchase loans. (Marketwatch)

Posted in Community News
Nov. 13, 2019

11/14/19

 

 

 

 

DID YOU KNOW?

Roughly 72 million Americans are born between 1946 and 1964, about 20% of the US population: In about 10 years this group will reach their mid-80's, the typical move-in age for senior housing. The rise of technologies that help the elderly stay in their homes threatens to upend one of commercial real estate’s biggest bets: Aging baby boomers will leave their residences in droves for senior housing. New products and services include sensors that respond to a range of medical conditions, facial recognition for identifying visitors, and houses with malleable fixtures that can be adjusted as residents age. The aging-in-place technology trend marks a challenge to the numerous real-estate developers who have been rushing to build senior housing. Senior-housing developers added 21,332 new units in 2018—more than double the number that was added in 2014. (WSJ)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted in Community News
Nov. 13, 2019

11/13/19

 

 

DID YOU KNOW?

Sales of new homes probably will rise to a 13-year high in 2020 as the U.S. dodges a recession, according to Lawrence Yun, chief economist of the National Association of Realtors. He estimates new-home sales probably will jump 11% to 750,000,the highest reading since 2007. Sales of existing homes likely will increase 3.7% to 5.56 million in 2020, the highest tally since 2017. (Housingwire)

 

 

DID YOU KNOW?
The US Treasury Department's 4-year investigation into whether foreign buyers are using shell companies to buy U.S. real estate in all cash deals to launder money will continue for at least another 6 months. More than 25% of transactions reviewed involved a “beneficial owner” who was also the subject of a “suspicious activity report,” which is an indication of possible criminal activity. Title companies in Boston, Chicago, Dallas-Fort Worth, Honolulu, Las Vegas, Los Angeles, Miami, New York City, San Antonio, San Diego, San Francisco, and Seattle need to report on the person behind shell companies on all-cash deals of $300,000 or more. (Housingwire)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News
Nov. 12, 2019

11/12/19

 

 

 

 

 

 

 

 

 

 

DID YOU KNOW?

Roughly 72 million Americans are born between 1946 and 1964, about 20% of the US population: In about 10 years this group will reach their mid-80's, the typical move-in age for senior housing. The rise of technologies that help the elderly stay in their homes threatens to upend one of commercial real estate’s biggest bets: Aging baby boomers will leave their residences in droves for senior housing. New products and services include sensors that respond to a range of medical conditions, facial recognition for identifying visitors, and houses with malleable fixtures that can be adjusted as residents age. The aging-in-place technology trend marks a challenge to the numerous real-estate developers who have been rushing to build senior housing. Senior-housing developers added 21,332 new units in 2018—more than double the number that was added in 2014. (WSJ)

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Real Estate News
Nov. 11, 2019

11/11/19

 

 

DID YOU KNOW?

Today is Veterans Day in the U.S.A, a day to celebrate the service of all U.S. military veterans. While Memorial Day honors those who have died while in military service, today we pay tribute to ALL those who have served. Veterans Day (originally known as Armistice Day) is a federal holiday in the US observed annually on November 11, for honoring persons who have served in the United States Armed Forces. It coincides with other holidays including Armistice Day and Remembrance Day which are celebrated in other countries that mark the anniversary of the end of World War I. Major hostilities of World War I were formally ended at the 11th hour of the 11th day of the 11th month of 1918, when the Armistice with Germany went into effect. At the urging of major U.S. veteran organizations, Armistice Day was renamed Veterans Day in 1954.

 

DID YOU KNOW?

Yields on longer-term U.S. government debt climbed above those on shorter-term Treasurys in recent weeks, a sign investors expect no immediate pullback in growth and inflation. That stands in contrast to earlier in the year, when longer-term yields fell below their shorter-term counterparts, a phenomenon known as an inverted yield curve. (WSJ)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News
Nov. 8, 2019

11/8/19

 

 

 

 

 

DID YOU KNOW?

The median age of all US buyers also hit a fresh record - 47 years old - increasing for a third straight year -- and well above the median age of 31 in 1981. This is critically important when thinking about who you are marketing to and how you do so.

 

DID YOU KNOW?

Just 21% of Americans say now is a good time to buy a home, a drop from 28% in September, according to a monthly sentiment survey by Fannie Mae. There was also a drop in the share of people who think now is a good time to sell a home, from 44% to 41%. Affordability has weakened since the surge in summer buying. Home price gains had been cooling off at the start of this year, but then mortgage rates began falling, buyers rushed in and prices heated up. Now mortgage rates are rising again, adding to the problem. Most consumers may believe prices will not rise, but current market dynamics say otherwise: An overwhelming majority - 93% of metropolitan housing markets - saw price gains in the third quarter of 2019, according to NAR, up from 91% in the 2nd quarter. (CNBC)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Buying a Home
Nov. 7, 2019

11/7/19

 

 

 

 

 

DID YOU KNOW?

At the beginning of this year I said the single most important driver of the economy in 2019 will be the US-CHINA trade war....now it appears a deal is about to be struck to cancel the tariffs in stages.....stay tuned! (Marketwatch)

 

DID YOU KNOW?

Is 700 mile per hour train travel in our future?  Virgin Hyperloop One has started on the project to build test runs for it.....22 States have already expressed interest in building this transport system. Coming soon? (WSJ)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Market Updates
Nov. 6, 2019

11/6/19

 

 

 

 

DID YOU KNOW?

Census Bureau data shows an average of 1.5 million homes were built each year since 1959. Yet since 2009, just 900,000 homes have been built per year. Fewer homes were built in the past decade than in any decade since the ‘50s! On average, people buy their first home at age 33. The median age of Millennials is right now is 34. (Forbes)

 

DID YOU KNOW?
Chicago recently passed a Condominium Deconversion Ordinance, designed to decrease the number of condominiums that investors purchase, taking effect Oct. 16th. The ordinance increases the number of “yes” votes needed from condo unit owners to sell the building to an investor, from 75% to 85%. Some Chicago neighborhoods are seeing rising deconversions - from condo to rental. Often people who sell their units in a deconversion get a premium over what they’d get if they sold it as a traditional listing. Many of the buildings being converted from condo to rental were rental buildings at one point that had been cosmetically upgraded but cannot complete with newer condo buildings. (Chicago Tribune)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a Great Day!

Posted in Community News