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☆ A real-estate investor who's built a 311-unit portfolio over the last 26 years lays out how new investors can scale up and maximize cash flow in today's market as strategies like home-flipping and BRR
▼ + stars: | 2023-04-16 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

A much better strategy to scale up in today's market is house hacking, Curry said. When Anne Curry started to build her 311-unit portfolio in the late 1990s, she turned to hard money lenders. Curry also said it offers investors to maximize cash flow and the chance to scale up. "Buy something that your mortgage payment is such where you could rent it out for that much, or maybe a little more," she said. The total mortgage payment for the property is about $3,000 per month she said, and he's able to charge $1,800 for the one unit and $900 for the bedroom.

☆ These features may 'set you ahead of the competition' when selling your home, research finds
▼ + stars: | 2023-04-06 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Certain luxury features may help sell your home for more money or faster than expected, according to new research from Zillow. "If you have these features in your home already, you should definitely flaunt them in your listing description," said Amanda Pendleton, Zillow's home trends expert. "That is going to set you ahead of the competition." The real estate website evaluated 271 design terms and features included in almost 2 million home sales in 2022. Doorbell cameras topped that list, helping to sell homes 5.1 days faster.

☆ The commercial real estate market is showing some cracks
▼ + stars: | 2023-04-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

But before we get too intergalactic, this morning we're stopping off in the commercial real estate space. In the wake of March's bank tumult, commercial real estate has frequently been noted as the next domino to fall — and one corner of the market is already showing signs of stress. A few things to remember:Higher interest rates have made it more expensive for both American households and large commercial real estate owners to buy or refinance property. Small and medium-sized banks hold 80% of US commercial real estate debt outstanding. What are the biggest risks, in your view, facing the commercial real estate market for the second quarter of 2023?

☆ Zillow's chief economist explains why the party is over for short-term real-estate investing tactics like house-flipping — and says long-term strategies designed to generate cash flow are an investor'
▼ + stars: | 2023-04-04 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

You know, long run mortgage rates are expected to be around five-and-a-half, six." Economists at other real-estate firms share similar views to Olsen's in respect to mortgage rates, at least for the rest of 2023. Plus, when mortgage rates eventually fall, one can refinance into a lower rate, improving an investor's positive cash flow. In the meantime, there's a way that buyers can get around high mortgage rates, Olsen said. Many sellers are offering concessions, like paying for repairs and helping pay for a rate buydown.

☆ 'Zoom rooms' and hideaway offices show how remote work is changing the way we design new homes
▼ + stars: | 2023-03-11 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +7 min

Family homes with two offices and "Zoom rooms" with camera-ready lighting are popular. The real-estate site Zillow told Insider offices were mentioned in 11.5%% of all listings in February 2023, up 4.5% from February 2022. Amanda Pendleton, Zillow's home-trends expert, told Insider a home office was no longer a "nice-to-have luxury." "When people don't have enough space or cash for two full-sized offices, they're replacing rooms," Hester said. She told Insider Veev's homes had LED strips around the edge of the ceiling to make even lighting that works well on camera.

☆ Billionaire Warren Buffett still lives in the same home he bought for $31,500 more than 60 years ago
▼ + stars: | 2023-03-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Billionaire Warren Buffett is famously frugal. The Berkshire Hathaway CEO still resides in the five-bedroom home in central Omaha, Nebraska, he purchased for $31,500 in 1958, which is about $329,505 in today's dollars. "He's authentic," says CNBC's Becky Quick, who has a longstanding relationship with Buffett and interviews him frequently. Located in a quiet neighborhood of Omaha, Nebraska lies the home of billionaire Warren Buffett. Orjan F. Ellingvag | Getty ImagesBuffett doesn't plan on trading his Omaha home for a more luxurious one any time soon.

☆ Home prices will fall this year but then enter a growth period like the one that started in the late 1980s, Zillow survey shows
▼ + stars: | 2023-03-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

US home prices will fall 1.6% in 2023, then rise by an average yearly rate of 3.5% through 2027, a Zillow survey said. Under that scenario, home prices will be up 23% in 2027 from 2021 levels, according to Zillow. In 2023, home prices will fall 1.6%, then rise at an average clip of 3.5% per year from 2024 through 2027, the Zillow Home Price Expectation survey showed. And mortgage rates will decline after the first quarter, most of the economists in the Zillow survey predicted, estimating a 6% rate to linger till the year's end. Zillow's Thursday findings provide a more moderate outlook on a housing market that has some analysts worried of a crash.

☆ The 'office apocalypse' won't doom big cities — it's actually making them stronger
▼ + stars: | 2023-03-02 | by ( Matthew E. Kahn | Christopher Okada | ) www.businessinsider.com time to read: +12 min

In San Francisco, tax revenue is projected to drop by as much as a billion dollars over the next six years. In order to bring in these new residents, cities will have to shift some of their priorities. Research coauthored by Steven Levitt of "Freakonomics" found that increases in violent and property crimes were correlated with city residents migrating to the suburbs. All is not lostThere's little doubt that superstar cities like New York and San Francisco have serious problems on their hands. Christopher Okada is the CEO of Okada & Company, a full-service commercial real estate brokerage and investment company in New York City.

☆ Stocks making the biggest moves midday: Union Pacific, Fisker, Tesla, Zillow and more
▼ + stars: | 2023-02-27 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Union Pacific – Union Pacific's stock nearly 10% after the company announced that its current CEO would step down in 2023. Fisker – Shares of the electric vehicle startup surged more than 27% after Fisker maintained its 2023 vehicle production target and said it spent less than anticipated in 2022. To be sure, the company posted a larger-than-expected loss and revenue miss for the fourth quarter, according to StreetAccount. Alphabet — Google's parent company gained 0.6% after Bank of America reiterated its overweight rating, citing the technology giant's opportunities within artificial intelligence. Zillow — The online real estate platform gained 2.4% after JPMorgan initiated coverage of the stock with an overweight rating.

☆ Zillow can rally nearly 20% as real estate platform navigates tough housing market, JPMorgan says
▼ + stars: | 2023-02-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

It's time for investors to jump on the Zillow bandwagon, according to JPMorgan. Analyst Dae Lee initiated coverage of the online real estate platform with an overweight rating with a price target of $48 per share. "Additionally, Zillow has a healthy balance sheet to continue investing through N-T headwinds, which should strengthen its leadership position," he added. "The residential real estate industry is cyclical, and it currently is in a down cycle and faces affordability, mortgage rate volatility, & low inventory challenges," Lee wrote. Shares of Zillow have surged almost 30% this year amidst a 30% tumble in the past 12 months.

The case for falling rentSomething strange is happening in the apartment market. More than 971,000 apartment units were under construction across the US at the end of 2022, the second-largest number on record. There's only so much people are willing to pay,'" said Jon Leckie, a researcher for Rent, a platform that helps landlords market their properties. For now, though, the wave of supply that's already underway should keep rents in check over the next couple of years. Now, as landlords shift their focus from jacking up rents to filling up units, renters can once again look ahead to better days.

☆ Zillow stock up following fourth-quarter earnings
▼ + stars: | 2023-02-15 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Shares of Zillow popped more than 3% Wednesday in extended trading after the company released fourth-quarter earnings that beat analysts' expectations on top and bottom lines. The company's Internet, Media and Technology segment's revenue came in at $417 million, a decline of 14% year over year. That segment, which represents the bulk of the company's business, includes various services for agents and consumers. Traffic to Zillow's mobile apps and websites reached 198 million average monthly unique users for the fourth quarter, flat year over year. The company will hold its quarterly call with investors at 5 p.m.

☆ The 'singles tax': People who live alone are paying thousands more on rent than their coupled-up counterparts
▼ + stars: | 2023-02-14 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

It costs to be single: Americans living alone are facing a "singles tax" that costs thousands. A recent Zillow analysis compares how much more single Americans are paying to live alone in a one-bedroom place, compared to couples in the same spots. The results: On average, solo Americans are paying a "singles tax" of almost $7,000 every year. Those three all have singles tax of above $10,000 per Zillow's analysis on one-bedrooms. Silvia Tergas, a financial planner with Prudential, told Insider the singles tax is also reflected in the actual tax system, which largely benefits married couples who file jointly.

☆ Would you rather have 3 roommates or 4 jobs? What it takes to afford rent on minimum wage
▼ + stars: | 2023-02-09 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

Given the federal minimum wage sits at $7.25 and hasn't risen since 2009, it's increasingly difficult for minimum wage earners to afford rent. In fact, it would take four full-time minimum wage workers to reasonably afford a two-bedroom apartment, according to new Zillow research. The real estate company gathered minimum wage and rent data in the 50 largest U.S. cities to see what it takes to make rent on some of the lowest legal salaries. It concluded that a renter earing minimum wage has two options: find three roommates (and assign two people per bedroom) or work four full-time jobs on their own to keep their housing costs below the recommended 30% of their income. Even in places like San Francisco where the $16.99 minimum wage is more than double the federal wage, sky-high rents leave workers without a lot of comfortable options — you'd still need wages from three full-time jobs to afford a two-bedroom there.

☆ A Navy officer who built a $1 million real estate portfolio with $14,000 shares her top 7 tips for those who want to purchase property with little cash
▼ + stars: | 2023-01-28 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

If you're starting with little cash, you need the right house to qualify for certain loans. Ana Snider is an active-duty Navy petty officer who also decided to get her broker license after taking an interest in real estate. Her top 7 tips for beginnersThe best way to prepare yourself for a property purchase is to connect with a loan officer from a bank or lender that offers down payment assistance programs. Before finding the houses, Snider recommends finding the buyers or investors. She recommends starting in your own backyard.

Proptech customers, employees, and investors said they went from delighted to disillusioned. Proptech investors eager to capture these trends pumped $32 billion into the industry in 2021. As markets deteriorated, disillusionment set in among proptech customers, investors, and employees. Some customers say they were disappointed buying homes via proptech startupsReal-estate startups like Divvy Homes and Better launched under the auspices of helping customers afford quality homes. Investors in proptech firms are taking financial hitsYou don't need to ask proptech investors whether they're disappointed in the sector's performance — just look at share prices.

☆ Top 10 places in the U.S. to buy a lake house in 2023 based on vacation rental performance, home value and more
▼ + stars: | 2022-12-31 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Vacation rental company Evolve's 2022 report looked at the best places to buy a lake house in 2023. Buying a lake house can be a great investment, whether as a first home, a vacation house, or a potential rental property. Evolve, a vacation rental company, released their ranking of the best places to buy a lake house in 2023. According to Evolve, Saranac Lake's 7.1% cap rate— the ratio between the property's net income and market value—proves the area's profit potential. The top 10 places to buy a lake house in 2023

☆ Santa's 25-acre North Pole home is now worth over $1 million — and it has hot cocoa on tap, according to Zillow
▼ + stars: | 2022-12-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Santa's fictional cabin is once again available for viewing on real estate site Zillow. The 25-acre property was valued at $650,000 in 2016 and is worth an estimated $1.1 million in 2022. Santa's house is one of Zillow's most viewed homes, according to the company. According to the off-market listing, Santa's home is a three-bedroom, two-bathroom cabin built in 1822 and "steeped in Old World charm." Santa's helpers have their own living quarters in "Elf Village," according to Zillow.

☆ Rents are falling — it could help pull mortgage rates down even lower
▼ + stars: | 2022-12-15 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

Falling rents could help bring inflation down, leading to less mortgage interest rate hikes. And if this trend continues, it could even help ease inflation and ultimately lead to lower mortgage rates. Another important component in the slowing rent growth is that it could lead to cheaper mortgage rates. Slowing inflation has already translated to lower mortgage rates, which peaked at over 7% in October. Over the last five weeks, mortgage rates have declined by more than three quarters of a point — marking the largest drop since 2008.

☆ These are the best 10 metro areas for first-time home buyers — and how to make it more affordable no matter where you’re buying
▼ + stars: | 2022-12-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

After bidding wars during the pandemic, demand for home purchases has fallen amid higher mortgage interest rates. That dynamic has made some markets are more attractive for first-time home buyers for 2023, according to a Zillow report released this week. The real estate site found the "best opportunity" for first-time buyers in metros areas with more affordable rent, less competition and a higher inventory of homes for sale. Mortgage interest rates have more than doubled from early January after a series of hikes from the Federal Reserve to curb inflation in 2022. Still, some markets may be more affordable for buyers on a budget, Zillow's report shows.

☆ Homebuyers will flock to the Midwest in 2023 because prices will still be too expensive in coastal states, a Zillow economist predicts
▼ + stars: | 2022-12-06 | by ( Robert Davis | ) www.businessinsider.com time to read: +6 min

The Midwest could be 2023's hottest housing market because it's affordable, one Zillow economist said. Buyers may look at cities like Chicago, Indianapolis, and Cleveland, where prices have remained stable. Homebuyers in expensive markets like Denver, New York City, and San Francisco were routinely searching for homes in less expensive midwestern markets, the report added. The typical home in Milwaukee is $181,000 while in St. Louis, buyers should expect to spend $176,500, Zillow suggests. But waiting out this market may not be the best approach for buyers ready and able to buy now."

☆ Buy this online real estate stock now before the sector rebounds in 2024, UBS says
▼ + stars: | 2022-12-02 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Investors should consider loading up shares of online real estate stock Zillow now as the sector is poised for a rebound in 2024, according to UBS. Housing rebound For Zillow, UBS expects that as the macroeconomic backdrop improves, it will be able to make tangible progress towards its goals and see its valuation multiple re-rate higher. Currently, shares price in 16% revenue growth, and UBS forecasts Zillow can grow revenue at 18.5% in 2024 and 15% in 2025. This has also given investors a solid entry point to buy shares as they've slumped more than the broader market so far this year. "We see the current period of maximum uncertainty as a good entry point for Buy-rated Zillow shares for longer-term investors," wrote Walmsley.

☆ Home prices are falling at the fastest rate in 15 years. 7 real estate analysts and economists break down how bad they think it's going to get.
▼ + stars: | 2022-11-30 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

As demand fades in the housing market, price cuts have become widespread. However, despite more sellers cutting asking prices, home prices have still increased by 10.6% year-over-year. On an annual basis, Fannie Mae says house price growth will turn negative beginning in the second-quarter of 2023. According to Freddie Mac's Sam Khater, house price growth will average 6.7% in 2022 and then decline by 0.2% in 2023. With inventory levels at all-time lows, he believes supply and demand dynamics will give way to significant price declines nationwide.

☆ How Atlanta's growing economy burned low-income renters and homebuyers
▼ + stars: | 2022-11-28 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

"It's a huge increase in population," said Dan Immergluck, a professor of urban studies at Georgia State University. "Atlanta is becoming a wider city," said Nathaniel Smith, founder and chief equity officer at the Partnership for Southern Equity. Some Atlanta locals believe ambitious urban redevelopment projects, such as the BeltLine, have contributed to fast-rising prices in the area. "We've put about $700 million into the BeltLine to date," said Atlanta BeltLine Inc. CEO Clyde Higgs. That has caused a number of good things and also a number of pressures within the city of Atlanta."

☆ Nobel laureate Paul Krugman says the US rental market is cooling off – and official price stats overstate the inflation threat
▼ + stars: | 2022-11-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Slowing growth in US rents could mean the inflation threat is fading, Paul Krugman said. Krugman noted the slowdown is likely to have a large but delayed impact on inflation. Krugman noted that shelter makes up more than 30% of the Consumer Price Index, and 40% of core CPI, which excludes food and energy. Yet a cooler rental market doesn't necessarily spell the end of America's inflation woes, he noted. Now rental growth appears to be tapering off, Krugman likely feels greater conviction in that view.

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