Tuesday, June 14, 2022 / by Adam Donaldson-Moxley
Article originally posted on zillow.com on June 5th, 2022
Since the start of the pandemic, demand for homes to buy in vacation towns has skyrocketed. And with more remote work options and greater emphasis on outdoor living, it’s no surprise that recreation destinations from Tahoe to Tempe are among the most popular on Zillow.
As internet connectivity improves, remote and hybrid work options multiply, and the stress of faster-paced living ebbs and flows, it can be tempting to think about picking up and moving. But if you’re lucky enough to find yourself contemplating such a change, what’s the reality of buying a home in a vacation area and ultimately living in a tourist town? Dreaming about a move like this can feel like it’s all upside, but what if you aim to give it some serious thought?
How do you feel about crowds?
Vacation towns are vacation towns for a reason: They’ve got fun things to do in and around th ...
Monday, June 6, 2022 / by Adam Donaldson-Moxley
Article originally posted on mapazdashboard.com on June 6th, 2022
The pandemic delivered a huge shock to the Tucson labor market, which lost 45,500 jobs from February to April 2020. As of March 2022, Tucson has added back 37,800 of those jobs for a replacement rate of 83.1%. Job recovery has varied across industries in Tucson with professional and business services, government, and leisure and hospitality the slowest to recover. In contrast, the trade, transportation, and utilities industry had gained over 7,500 jobs over their pre-pandemic peak.
Tucson’s employment mix is similar to the U.S. and state with a few notable exceptions. The share of jobs in government in Tucson was substantially higher given the presence of local military bases and the University of Arizona whose employees are included in state government. Tucson had much smaller shares of employment in manufacturing and the trade, transportation, and utilities industry when compared to the nation. ...
Tuesday, May 31, 2022 / by Adam Donaldson-Moxley
Article originally posted on attomdata.com on May 20th, 2022
Single-Family Rental Market report showing that profit margins on 3-bedroom single-family home rentals are declining annually in 2022 across most of the United States, and are slightly more likely to decline in areas that already have lower yields.
The downturn in single-family rental yields comes as prices that landlords must pay to buy properties are rising faster than rents. Median prices for three-bedroom houses increased at least 15 percent from 2021 to 2022 in half of the counties analyzed, while average rents went up by that much in only one-third of those markets.
The report analyzed single-family rental yields in 212 U.S. counties with a population of at least 100,000 and sufficient rental and home price data in the first quarter of 2022. Rental and home price data was collected from ATTOM’s nationwide property database, as well as publicly recorded sales deed data licensed by the company
Click on ...
Wednesday, May 18, 2022 / by Adam Donaldson-Moxley
Article originally posted on attomdatta.com on May 5th, 2022
According to the new analysis, sellers who want to wait for the weather to heat up, will receive the hottest seller premiums as well. This analysis of more than 46 million single family home and condo sales between 2011 and 2021 is evidence that Spring and Summer is when people are looking to buy; therefore, if you’re looking to sell your home soon, now is the time.
Based on home sales over the past 11 years, the months of May, June and July offer seller premiums of 10 percent or more above market value – with the top 15 best days to sell in the month of May alone.
May 23rd: 18.3% Seller Premium above market value
May 27th: 17.0% Seller Premium above market value
May 16th: 16.8% Seller Premium above market value
May 20th: 15.4% Seller Premium above market value
May 19th: 14.9% Seller Premium above market value
Contact a CXT Agent today to find out how we can get your home sold on o ...
Wednesday, May 4, 2022 / by Adam Donaldson-Moxley
Article originally posted on homelight.com on March 21st, 2022
1. House Flippers
Housee flippers are real estate investors that purchase properties at a discount with the intention of remodeling to add value, then resell those properties quickly for a profit. House flippers look for specific improvements to boost equity, such as cosmetic updates, mechanical repairs, an addition, or a change to the layout. Doug Van Soest, who owns a house flipping business in Southern California, purchases an average of 40 to 50 homes per year and says he typically aims for at least a 10% return on his investment.
Example house flipping companies:
HomeVestors / We Buy Ugly Houses
Certain investors on HomeLight’s Simple Sale platform
2. Buy-and-hold companies
Buy-and-hold companies purchase houses with the intention of renting them to tenants for a profit. “Similar to flippers, they will look to acquire properties that offer enough potential eq ...