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“The U.S. apartment vacancy rate fell to its lowest level in more than a decade during the third quarter, according to a new report by real estate research firm Reis Inc. It was down to 4.2 percent, the lowest vacancy rate since the third quarter of 2001, when it stood at 3.9 percent.”
“You don’t have to be a millionaire to steal these ideas about work, retirement and even getting up in the morning.”
“A webinar held today by HousingWire and Veros asked where housing prices are going in 2014.”
Tony catches up with us from Smith River and shares his opinion on two real estate news articles he read today. The first article headline read “Sold! Auction.com Looks to Revolutionize Selling Real Estate” put out by CommercialObserver.com and the second article, “U.S. Government Shutdown Threatening Housing Recovery” written by BusinessWeek.com. Tony talks about how the government shutdown is affecting our office and how it directly affects those seeking loans.
“A recent late summer morning at one of the company’s three separate buildings in Irvine, Calif., roughly 100 Auction.com employees buzzed around a vast, open windowless room lined with rows of cubicles and slung with venting and lighting hung from the ceiling high above.”
“A U.S. government shutdown will immediately slow approval of thousands of mortgages. If it lasts more than a week, it threatens housing and the broader economic recovery.”
“U.S. stocks fell on Monday as the Federal Government moved towards a shutdown because Republicans and Democrats on Capitol Hill could not agree on an emergency short-term budget. The midnight deadline passed with no deal and Government agencies started to shut down.”
“The government shutdown is here. Whether it’s not being able to get a new Social Security card or visit a national park, Americans will immediately feel the effects. But there’s one bright spot of the economy that stands to be affected as well: housing.”
“There is some foolish money swirling in the real estate market. In particular, there is a growing flood of small time investors trying to enter the market at a turning point and others are simply looking for a quick way to make a buck. It is amazing how many people are waiving inspections just so they can win a property. Some people are going to get a dark reality check when they are hit with major unexpected repair bills. To bring this back to frothy California, the euphoria of 2005 and 2006 is back in the air. People are trying to tap out equity to leverage into additional real estate. Keep in mind many of these people have no idea about real estate investing and many wouldn’t know how to use a tape measure or a hammer if it hit them over the head. Emotions are stronger than fundamentals in the current marketplace. Take a look at some shifting trends.”
“With the housing market percolating again, particularly in Fairfield County, Warren Buffett’s real estate arm has jumped into the stew after taking over Prudential Connecticut Realty this week.”