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More consumers are willing to trust their financial needs — including mortgage applications — to tech firms than to banks, Fannie Mae reported Feb. 5. Research showed that tech companies overall weren’t more trustworthy, just the ones consumers cited as their favorites, such as Amazon, Apple and Google.
The IRS on Feb. 4 released proposed safe harbor rules that clarify the types of rental real estate that qualify for an income deduction of up to 20 percent from pass-through entities, National Real Estate Investor reported. While the 2017 Tax Cuts and Jobs Act allows the deduction, confusion exists around eligibility and limitations.
Nearly 669,000 single-family homebuyers found mortgage backing through the Federal Housing Administration last year, a highlight noted in the U.S. Department of Housing and Urban Development’s Year in Review report released Feb. 1. HUD also cited the introduction of new financing options for victims of natural disasters to rebuild or buy another home.
Commercial real estate is headed into unchartered territory as the current economic expansion cycle approaches 120 months this June, consulting firm Deloitte reported Feb. 7 in its Expectations and Market Realities in Real Estate 2019 report. The report said a correction is inevitable, but noted there’s no way of knowing when or how serious.
Cap rates for single-tenant net lease big box stores increased 29 basis points between 2017 and 2018 — more than the retail sector overall — and likely will remain quite active this year, according to commercial real estate firm Boulder Group, MBA NewsLink reported Feb. 5.
Real estate investors should focus on the new Amazon headquarters cities, growing mid-size cities (Des Moines, Iowa; Indianapolis), cities with migration inflows (Denver) and sunbelt cities (Greenville, South Carolina; Granbury, Texas), the Forbes Real Estate Council advised Jan. 31 in its listing of 15 top real estate locations.
Shuttered retail real estate assets are finding new life as warehouses and e-commerce distribution centers, with particularly strong activity in Atlanta, Baltimore, Chicago and Detroit, according to real estate services firm CBRE, MBA NewsLink reported Feb. 7. Warehouse vacancies are near historic lows in many markets.
Approximately 1.1 million houses have remained off the market due to seniors staying in their homes as they age — a phenomenon that’s contributing to the shortage of for-sale inventory, Freddie Mac reported Feb. 6 in its February Insight report.
The housing market likely won’t see notable growth this year, with the number of mortgage applications down even as mortgage rates continue to drop, according to analytics firm Capital Economics, HousingWire reported Feb. 6.
Six of the 10 most expensive rental markets in the U.S. are in California, with San Francisco taking the top spot on the January list compiled by real estate rental site Zumper, HousingWire reported Feb. 1. Louisville, Kentucky, saw the largest monthly jump in rents while Columbus, Ohio, saw the largest drop.
Mortgage rates fell to a 10-month low during the past week, sparking hope for the upcoming spring homebuying season, Freddie Mac reported Feb. 7 in its Primary Mortgage Market Survey. The survey noted that the economy is solid, inflation is contained and the threat of higher short-term rates is fading.
Media coverage of the Appraisal Institute and its professionals in 2018 was potentially seen, read or heard more than 3.4 billion times — the most since AI began measuring coverage nine years ago — which resulted in a publicity value of more than $4 million, the Appraisal Institute announced Feb. 13.
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