Author name: Boston REIA

Black Knight Says 8% of Mortgaged Homes Purchased in ’22 are Underwater According to Black Knight’s latest Mortgage Monitor, 8% of all homes purchased with a mortgage in 2022 are now at least marginally underwater and nearly 40% have less than 10% equity stakes in their home, a situation most concentrated among FHA/VA loans. Over […]

U.S. Construction Spending Down Slightly in October The U.S. government is reporting that total construction spending in October, 2022 was at a seasonally adjusted annual rate of $ 1,794.9 billion, which is 0.3% lower than September’s revised estimate but is 9.2% higher than one year ago.  Residential construction came in at a seasonally adjusted annual

FHFA Says Home Prices Were Up 12.4% Year-Over-Year According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 12.4% from Q3 of 2021 to the Q3 of 2022.  In addition, prices were up 0.1% compared to the second quarter of 2022.  FHFA’s seasonally adjusted monthly index for September

Determine Your Christmas Tree Personality Last week we were talking lights…..Now let’s discuss trees.  Have you put yours up yet?  Well, this week’s infographic from the Home Depot asks;  “What’s your Christmas Tree personality?” – starting off by asking what’s your favorite pizza and going from there.  Okay……   Stay safe and have a Happy

Delistings Hit Record High in November Redfin says a record 2% of all U.S. homes for sale were delisted each week on average during the 12 weeks ending November 20, compared with 1.6% a year earlier.  Cities they identified as “pandemic boomtowns” such as Sacramento, Austin and Phoenix saw the biggest jump in delistings with

Home Bought at Sheriff’s Sale has Decomposing Body of Former Homeowner in the Basement You never know what you’ll find in an old house that you’ve just purchased however a dead body in the basement usually isn’t on the list.  Recently, the buyer of a property at a Cuyahoga County (Cleveland, Ohio) Sheriff’s sale discovered

Double Dipping By Cummings Properties Not Allowed In Commercial Lease Dispute Appeals Court Rules That Liquidate Damages Clause Is Unenforceable Where It Allowed For Recovery of Rent For Remaining Term On Top of Rent Received From New Tenant If you enjoyed the famous Seinfeld episode where George Costanza was accused of “double dipping” his chips

Looking Back on 25 Years of Leading Michigan’s RPOA with Clay Powell On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with Clay Powell, who will soon be retiring from Michigan’s Rental Property Owners Association after nearly 25 years of service. Clay looks back on the challenges

S&P CoreLogic Case-Shiller Index Shows 10.6% Annual Home Price Gain The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 10.6% annual gain for September, 2022.  Their 10-City Composite annual increase came in at 9.7% and their 20-City Composite posted a 10.4% year-over-year gain.  The increases in both measures were down from previous

Mortgage Delinquencies Up 4.5% in October According to the Black Knight’s First Look report for October, 2022, mortgage delinquencies were Up 4.5%, driven by a sharp 9.4% rise in 30-day delinquencies.  In addition they say foreclosure starts were initiated on 4% of existing serious delinquencies in October, up slightly from September but still less than