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Blog Details for "The National Association of Residential Real Estat"
The National Association of Residential Real EstatThe National Association of Residential Real EstatNARREIA is the home of the The National Association of Residential Real Estate Investment Advisors. Advisors are investment savvy agents who have been screened for their integrity. They write articles and post information on their market of expertise Articles
Vegas Condo Conversion Trend Boosts Rents
2008-02-21 00:00:00 "Rent in Las Vegas increased 6.3% over last year, the largest gain in a decade. The trend is bolstered by the condo conversion craze that is removing lower end apartment complexes from the rental pool. While many of the converted properties are returned back into the rental market, as the cost of the unit is considerably higher, and the upgrades in the units further increases the cost to purchase the individual units, residential investors are having to raise rent above what the original apartment complex is charging. For a full article by Hubble Smith, please visiten More About: Condo , Conversion , Trend
MARKET WATCH: Phoenix, AZ
2008-02-21 00:00:00 The southeast valley (Chandler, Mesa, Gilbert, Queen Creek) currently has a pretty soft rental market due to a glut of investors who bought up the valley in the last 12 months. (Yes, my clients and I are part of that problem, and boy did we get good prices there last year.) Flipping is well into the third phase of the cycle, and were starting to see signs of Phase Four: {Phase 1: Early investors buy with intent to flip; Phase 2: Builders start to apply anti-rent and anti-flipping addendums; Phase 3: Flippers start reselling their properties, sometimes to late comer speculators; Phase 4: Flipping becomes increasingly challenging due to a glut of properties on the market; Phase 5: Rent bec More About: Watch , Phoenix , Market , Market Watch
Housing Hedge Funds?
2008-02-21 00:00:00 Could it be true? Can you possibly hedge the housing industry? In fact, you can, and some time next year it will be on the Chicago Merchantile Exchange (http://www.cme.com.) More About: Housing , Hedge , Funds
Ely, NV: $45,000 Houses, $700 Rent
2008-02-21 00:00:00 Ely, Nevada ----------------------------------- Market Report Update 04/05/06 (provided by Tara Klaas) All is well in White Pine County after Mr. Gs thats "opening someday" is actually opening. Mr. Gs has been closed since at least 1990. Check out the article featured in the www.elynews.com. The bank building in McGill finally sold. Ground is breaking just south of Extreme Assessories on the Great Basin Hwy, word is a new auto parts store is going in. Ground is breaking just south of Cedar Park West - possible building sites. The wind farm crew is coming in to do their studies and theyre looking for rentals. La Fiesta has moved into the old Big Js on the Gr More About: Houses , Rent
New vs. Old in Las Vegas
2008-02-21 00:00:00 "I was recently asked by a market analyst about a statistic regarding the number of homes sold?that were under 1 year old. In doing the research, I found an incredible statistic. When combining the MLS and New Construction data, I found that a total of about 64,077 houses were sold in the last 12 months (thats using 35,077 in MLS S-Sold status today and an approximate 29,000 new construction sales in 2004). Since the new construction were certainly less than a year old, I looked at how many of those sold in the MLS were a year or newer, and came up with 5,490. So out of 64,077, 34,490 were under a year old, or 53.8%! When just isolating the MLS properties, 16.7% were under a year old, which More About: Las Vegas , Vegas
Las Vegas Market Conditions June 2005
2008-02-21 00:00:00 "The 2004 appreciation in Las Vegas was reported to exceed 50% in certain zip codes and reported to be above 35% for the entire market. The key to remember is this is the appreciation for 2004, and that definitely does not mean that it is still 36% in 2005. While in January/February I was expecting approximately 10% appreciation for 2005, I have revised my 2005 estimate to be 12-15% for the Las Vegas market. Double digit appreciation is outstanding in any market (especially when leveraged, where you can get 20 times that in ROI). Just dont expect the markets that have exceeded 20% a year to duplicate that performance year after year. I dont think there is a bubble (especially in La More About: Market , June , Las Vegas Market
A Running History of the Recent Las Vegas Market
2008-02-21 00:00:00 "MAY 2005: After a tumultuous 2004, where prices were reported to have increased over 50% in 12 months, the year ended with a serious plateau in pricing with a slight decrease in the number of available houses on the MLS. Peaking at approximately 12,000 available MLS homes (which does not include hardly any builder inventory homes) in the last quarter, there are currently 9,200 single family residences in Available status (March 12, 2005). This is down 600 houses over a four week period (9,800 on February 4, 2005). While I was expecting approximately 10% appreciation for 2005, I have revised my estimate to be 12-15% for the Las Vegas market. HOME BUYERS For people looking for a home, More About: Running , History , Market , Las Vegas Market
Cuckoo for Condos!
2008-02-21 00:00:00 link to a good article from CNN Money on buying condos in the mid-2000s. Money Magazine "Cuckoo for Condos"
MARKET WATCH: Austin, TX: The Next Hotspot?
2008-02-21 00:00:00 INTRODUCTION TO AUSTIN Jeff Klein and I have spent the last two weeks in Texas, and weve got another few days left before we head to Florida. In our search, weve come to realize the I-35 Corridor, between Austin and San Antonio, is ready to pop. Last year, the state of Texas appreciated a measly 3-4% (depending on which resource you cite.) Many reports had Texas at the very bottom of the list for apprecation. All the while, places like Vegas, Phoenix, and Sarasota had appreciation that exceeded 30%. Two to three years of disparity has resulted in Texas housing being half the cost of the other Sun Belt areas. Its common knowledge that Texas is a large state, but people just dont More About: Watch , Market , Market Watch , Hotspot
FAQ: Why can't I find a Positive Cash Flow property in Las Vegas or Phoenix
2008-02-21 00:00:00 Q: Why am I having so much trouble finding a property in Las Vegas or Phoenix that will provide me with Positive Cash Flow? A: The short and obtuse answer is to put a huge percentage down and it will be a positive cash flow property. Most investors these days are putting 5% or 0% down, which makes a positive cash flow reasonably challenging. Realize the gurus whose mantra is "If it isnt positive cash flow, dont buy it" come from an era that required 20% down. Many of these "negative cash flow" properties would be positive if your down payment was four times the amount youre now putting down. So the real question is "Why, when putting very little down, am I having a hard time find More About: Property , Find
Las Vegas Real Estate Market Report: 2/20/08
2008-02-21 00:00:00 Las Vegas Real Estate Market Report: 2/20/08 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com ( More About: Las Vegas , Real Estate Market
New Advisor: Killeen, TX: Anita Riendeau
2008-02-21 00:00:00 While we were down in Orlando for a Realty Executives national convention, we ran into Raye Mayhorn, a broker in Killeen, TX. Knowing we worked specifically with investors, Raye told us about brand new four-plexes that were selling fro $220,000 with a gross rent of $2,600. With visions of sugar plums in our heads, our team recently visited Killeen and were surprised to find: four-plexes for $220,000 with a gross rent of $2,600! Imagine that! Raye put us in contact with Anita Riendeau, and Anita has now represented several NARREIA clients on these fourplexes. But thats not all Killeen, home of Ft. Hood, the USs largest military installation, has to offer. There is a lot of room More About: Advisor
How the End of the Residential Boom Affects Commercial
2008-02-21 00:00:00 This is a very good article on how the cooling of the appreciation in the residential market will affect the commercial real estate market. http://nreionline.com/news/residential_bo om_bust/ More About: Residential , Commercial , Boom
Business 2.0: The NEXT Real Estate Boom
2008-02-21 00:00:00 cribe to Business 2.0. More About: Estate , Real Estate , Real , Boom
1/3 of 2004 RE Transactions were 2nd Homes or Investments
2008-02-21 00:00:00 was doing some research for a business plan when I stumbled across this interesting article that says 1/3 of the real estate transactions were either investment properties or second homes. Thats 5.64 MILLION properties that were not primary residences. http://www.buildingonline.com/news/viewne ws.pl?id=3879 More About: Transactions , Homes , Investments
Sage Advice: A Collection of One Expert's Posts
2008-02-21 00:00:00 I was doing some research for a business plan when I came across a post by Ray Alcorn entitled "Real Estate Investing in a Rising Rate Environment." The first paragraph looked well written, and since Im certainly interested in reading someones perspective about investing when interest rates are rising, I bit and read the entire article. It took me a while to nail down when he had written the article, but it turns out it was posted in 2000. I dont recall exactly what the rates were then, but I do remember doing a refi on a personal residence from 7.5% to 6% around 2001-2002, so I found it interesting he was writing about "rising rates" before they hit our incredibly low rates these last More About: Advice , Posts , Sage
A Word of Caution Regarding Luxury High Rise Condos
2008-02-21 00:00:00 This is an article we posted last year, but it merits a review. It was written as a reply to a question a client had about buying Luxury High Rise Condos in Las Vegas. *************************************** The condos are a hard subject for me. First of all, I think they are a very cool idea. I truly want one for myself, and I live here. Vertical is a much better way to grow Las Vegas, as land is a premium here now. The problem I have is with the whole Builder hype of the market, and the incredibly insane investor market that is happening. When I sell an investment, I take my recommendation very personally. I can?t recommend something I don?t stand behind. So when I sell a r More About: Word
Future Chairman of the Fed: No National Housing Bubble
2008-02-21 00:00:00 Bernanke: Theres No Housing Bubble to Go Bust Fed Nominee Has Said Cooling Wont Hurt By Nell Henderson Washington Post Staff Writer Thursday, October 27, 2005; Page D01 http://www.washingtonpost.com/wp-dyn/cont ent/article/2005/10/26/AR2005102602255.ht ml?referrer=emailarticle More About: National , Future
Las Vegas: A Market Returns to Normalcy
2008-02-21 00:00:00 Starting around September, the Las Vegas market has slowed down considerably from its frenzied pace. An increase in the number of available listings by about 9% is compounded by an approximately 24% decrease in the number of properties put under contract, resulting in an increase in supply of about 45%. At the end of August we had about a 54 day supply of Single Family Residences (SFRs), and that stretched out to 71 days in October. Today, the end of the first week of November, we have 10,674 SFRs Available in the MLS, and only 3,938 that are under contract, resulting in an 81 day supply. (Divide the number of Available by those under contract, and multiply by 30. Since the average length of More About: Market
Luxury High Rise Condos: An Excellent Informative Article
2008-02-21 00:00:00 http://www.reviewjournal.com/lvrj_home/20 05/Nov-06-Sun-2005/business/3832984.html More About: Luxury , Article , High , Informative , Rise
Is US Real Estate Dead?
2008-02-21 00:00:00 I recently had a friend from United Airlines call me and wanted to discuss the big picture of what is going on in real estate and the national economy. A lot of people do a lot of thinking and talking and writing about it, and some of them are pretty sharp. I truly believe that no one has a clue as to where things are really going, myself included, but I do believe that some of us are reasonably analytical about it, and that in the end you have to make some kind of call. The discussion was about how some pilots, many who have recently lost or are about to lose their pensions, are trying to figure out what to do, especially those that live in the extremely expensive markets in California. More About: Estate , Real Estate , Dead , Real
The Sky is Falling: Bill Fleckenstein's Article
2008-02-21 00:00:00 Bill Fleckenstein, whose MSN column is called the "Contrarian Chronicles," has published an article entitled "Empty Houses, Falling Prices: A Boom Dies." I More About: Article , Bill
CSFB: Homebuilding Update Delinquency and Foreclosure Rates
2008-02-21 00:00:00 Homebuilding Update Delinquency and Foreclosure Rates by Ivy Zelman and Team, Credit Suisse First Boston (CSFB) · According to the Mortgage Bankers Association?s National Delinquency Survey released last week, seasonally adjusted national mortgage delinquencies for all loans in the second quarter of 2005 increased to 4.34% from 4.31% in the previous three-month period. Year over year, delinquencies improved from 4.56%. · The seasonally adjusted delinquency rate for prime loans fell 20 basis points to 2.20% from 2.40% in the prior year, while also improving 14 basis points to 10.33% from 10.47% for subprime loans. Likewise, FHA delinquencies fell 17 basis points to 12.37% v
MARKET WATCH: Already hot Southeastern real estate market blazes
2008-02-21 00:00:00 http://www.usatoday.com/money/economy/hou sing/2005-09-18-katrina-real-estate_x.htm More About: Watch , Estate , Real Estate , Real Estate Market , Market
Las Vegas Real Estate Market Report: 2/13/08
2008-02-15 00:00:00 Las Vegas Real Estate Market Report: 2/13/08 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com ( More About: Las Vegas , Real Estate Market
REO, REO, REO.....
2008-02-15 00:00:00 REO, REO, REO?.. What is an REO? These are the physical result of the mortgage implosion. An REO is a term for a home that has gone all the way through the foreclosure process, was not purchased at the Trustee?s auction on the courthouse steps and is now owned by the bank. They are also commonly referred to as bank owned, repoed and foreclosed properties. What does this mean to you? What it means is value! These are becoming WAY more prevalent in the Las Vegas market (which is currently #3 nationally in foreclosed homes). They are driving the prices in our market down at an alarming rate. A bank takes the property back and needs to get the asset off of their books. With the
AZ: 2002 Deja Vu
2008-02-15 00:00:00 Greater Phoenix resale market in January comparable to 2002 levels MESA, Ariz. ? The resale home market did not start the new year with a bang. The 3,350 recorded sales is below last year?s 4,520 sales and the record of 9,360 sales set in January 2005. However, it is very comparable to the 3,345 recorded sales of January 2002. ?Due to the holidays, January is not one of the better sales months, but frequently represents the start of the home buying process,? said Jay Butler, director of Realty Studies in the Morrison School of Management and Agribusiness at ASU?s Polytechnic campus. ?The end of the home buying process that started in January is traditionally seen in the M
Raleigh, NC one of Forbes Ten Best Cities for Bargain House-Hunters
2008-02-15 00:00:00 Forbes.com has just released its Ten Best Cities for Bargain House -Hunters and has included Raleigh , NC prominently on that list. The article reports that real estate investors are looking for the right time and place to take advantage of the nationwide real estate pricing decline. Their article advises: "They?d be smart to look for markets where job growth is strong, foreclosures are relatively low and inventory is high. With these factors in place, buyers can still dictate terms of sale and negotiate prices, but aren?t as exposed to the economic and lending risk problems that have sunk many markets around the country." Forbes chose Raleigh because of its expanding economy and j More About: Forbes
Las Vegas Real Estate Market Report: 2/06/08
More articles from this author:2008-02-09 00:00:00 Las Vegas Real Estate Market Report: 2/06/08 This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com ( More About: Las Vegas , Real Estate Market 1, 2, 3, 4, 5, 6, 7 |
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