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Single-Family Rental Market Sees Increase in Portfolio Sales

Whoa Nelly! According to ATTOM Data Solutions, single-family rental owners are selling off big chunks of their portfolios at the highest level in more than a decade. Experts believe this sell-off may signal that large SFR owners are swapping portfolios as the industry continues to mature and institutionalize. In fact, there’s been a 98% increase in multi-unit single-family sales as of the third quarter. There were185,504 such sales in the first three quarters of 2018 compared to 93,859 in 2017. The big boys of SFR investments are driving this rush. For example, Pretium Partners LLC,recently raised $1 billion to expand its single-family rental business. Dana Hamilton, senior managing director

Guardian Residential CEO Weighs inOn Single-Family Rental Investments

Online site DS News recently had a sit-down with Guardian Residential’s CEO Dennis Cisterna. Cisterna talked about the factors driving the single-family rental (SFR) investment market and what investors should look for when entering this market. “The single-family rental investment sector has continued to mature,” says Cisterna. There’s a tremendous amount of opportunities out there as prices and rents continue to increase, and investors look to create added value whether that is build-to-rent, finding better financing options, doing deeper renovations, or exploring new markets.” Cisterna advises new investors to look for “opportunistic investments” such as foreclosed or heavily distressed p

Single-Family Home Construction Slows Down in October

The U.S. Department of Housing and Urban Development and the Commerce Department report that housing starts rose 1.5% in October to a seasonally adjusted annual rate of 1.23 million units. Sounds good, huh? But when you dig deeper into the data, you can see some problems in the single-family sector. Single-family starts edged down 1.8% to 865,000 units while construction of multi-family dwellingsincreased by a whopping 10%. "This month's decrease in single-family starts isn't a surprise given the drop in our builder confidence index," saysNational Association of Home Builders Chairman Randy Noel. "Builders are showing caution as mounting housing affordability concerns are forcing some consum

Chicago Home Sales Rebound in October

September was not a good month for home sales in metro Chicago. But according to Crain’s, while Chicago-area home sales dipped in October from a year earlier, the decline was far smaller than the double-digit drop a month earlier. In fact, the median prices of homes sold during the month were up by some of the biggest margins of the year. 2,056 homes sold in October, according to data released this morning by statewide industry group Illinois Realtors;that's down 2.5% from the same time in 2017. In the nine-county metropolitan area, 9,038 homes sold last month, down 1.7% from October 2017. But the declines in the region were smaller than the decline in home sales nationally;not too shabby. R

How to Protect Your Investments If Another Market Crash Happens

Is the Crash of 2008 about to happen again? If so, how can you stay afloat? Remember subprime mortgages, the beasts that brought down the housing market ten years ago and plunged the entire country into the Great Recession? Well, they’re back. But this time they’re called “nonprime loans;” adorable. Less-than-ethical lenders are now offering loans to borrowers with less-than-perfect credit. Many of them are millennials who are saddled with large amounts of student loan debt, and who, in a perfect world, would not qualify for a commercial loan. With regulation, these programs could be beneficial to many Americans wanting to fulfill their dream of homeownership. However, when greed comes into

Single-Family Rents are Climbing. But Why?

Single-family renters are now facing significant rent increases. According to the latest Single-Family Rent Index (SFRI) released by CoreLogic, U.S. single-family rent prices increased 3.2%over the past year. Low rental home inventory contributes to the growth of single-family rent prices, the analysis noted. “We’ve seen a slight uptick in rent prices over the past few months as strong employment growth continues,” said Molly Boesel, Principal Economist at CoreLogic.The strength stems from the low-to-middle price tier, which has seen a monthly average growth of 3.2% since January 2018.” Markets showing rent increases over 6% from the previous year include Phoenix, Las Vegas and Orlando. This

Slowing Apartment Construction Could Mean Higher Rents

Construction of new apartments has slowed over the past few months according to a recent article in the Wall Street Journal. Two main factors are driving this downturn: rising construction cost and a tight labor market. Multifamily building permits have fallen each month since March, according to federal data;that translates into less apartment construction and higher rents for apartment seekers. If supply is pinched, rent negotiations “would definitely favor landlords more than tenants going forward,” said Barbara Byrne Denham, senior economist at Reis, a property consultancy. Read on HERE Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold

Existing Home Sales Take a Plunge

‘Tis the season to start worrying… about the housing market. According to realtor.com, sales of existing homes dropped in October by 5.1% compared to a year earlier, despite edging up by 1.4% from the previous month. The main culprit for the decline is higher mortgage interest rates.The rate for a 30-year fixed rate mortgage averaged 4.81% last week,up significantly from a year ago, when they averaged 3.92%. The rate change, combined with a bear market on Wall Street is causing a lot of uncertainty. “The level of volatility in the stock market is reflecting a lot of uncertainty about where we are with the broader economy. There is a little bit of increased anxiety about how much things are g

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