BiggerPockets Daily

ATTOM’s Year-End 2023 U.S. Foreclosure Market Report shows that foreclosure activity increased last year from 2022 levels, but is this a cause for concern for investors? 

The ATTOM report shows that foreclosure filings, which include default notices, auctions, and repossessions, stood at 357,062, up 10% from 2022 and 136% from 2021. These figures look much less alarming, however, when set in the context of pre-pandemic foreclosure levels. Foreclosure activity in 2023 was still 28% lower than it had been in 2019 and down a massive 88% from its peak in financial crisis-ravaged 2010. 

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In my previous article, we delved into the essential elements of development zoning. We explored key zoning designations such as R or C, critical parameters including setbacks, FAR, and building heights, strategies for enhancing density via affordable housing, the role of neighborhood ordinances, and the distinctions between by-right and discretionary review processes.

In this article, we’ll delve into the crucial task of determining the development zoning for your project—an essential step to undertake before acquiring any development project. Mastering the intricacies of development zoning necessitates a strategic methodology, and we’ll unveil three pivotal strategies.

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I’ve encountered the question “Should I buy or hold?” on several websites for several years. All I have seen are opinions such as “only hold a property for X years.” Here, I propose a simple process for deciding whether to sell or hold.

First, what should you base your decision on? That’s simple: your investment goal.

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Buffalo, New York, will be 2024’s hottest housing market, according to a recent analysis by Zillow. While you may mainly know Buffalo as the place that regularly gets snowed in during the winter, it turns out that the city’s current combination of affordable homes, a thriving job market, and a multibillion-dollar federal regeneration project has produced market conditions every real estate investor should note. 

Zillow’s report uses several metrics to determine which housing markets are currently on the rise. In a nutshell, it looks at two of the most powerful draws for new residents—affordable home prices and the number of new jobs—and then zooms in on how these favorable conditions translate into moving patterns. Once it’s clear that people are actively moving to an area to buy homes and form households, you have yourself a perfect housing hot spot. 

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What is important for Real Estate investors to know this week? Managing Editor of the BiggerPockets Blog, Matt Myre is here today to share the top 3 headlines that Real Estate investors need to know about to make better investing decisions. We’ll cover a House bill that was passed last week that could potentially bring back 100% bonus depreciation if made into law, the “Silent Depression” that TikTokers are battling with economists over, and what the SEC is proposing for new accredited investor minimum qualifications and what that impact could mean for real estate investors.

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A traditional home refinance involves replacing an existing mortgage with a new loan to secure better terms or a lower interest rate. This process can reduce monthly payments, change the loan duration, and/or provide access to home equity for other expenses or investments.

A no closing cost refinance is a type of mortgage refinancing where the lender covers upfront closing costs in exchange for a slightly higher interest rate on the new loan. 

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Things are shaping up for homebuilders. In fact, one big name in the industry is projecting that 2024 will mark the “golden age” for homebuilding, thanks to falling mortgage rates and frozen existing home supply, among other factors.

David O’Reilly, CEO of megalith developer Howard Hughes Corp., told CNBC last week, “We’re going to have the golden age of new home construction” in 2024, even calling the new home market “extraordinary” in its current form.

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If you’ve been reading the BiggerPockets Blog for any length of time now, you’ll have noticed that the Midwest has often been named as one of the best places to invest in real estate right now. It offers reasonable home and rental prices and stable job markets in major cities. The result is a buoyant housing market that has so far avoided the post-pandemic slump seen in other areas.

But what if we told you that, while all this is true, the Midwest is also the most at-risk area for flood damage over the next 20 years—with all the related consequences: abandoned communities, dropping house prices, and rising insurance costs that will make homes less attractive for both buyers and investors?

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Well, 2023 has been another wild year in commercial real estate. The headlines continue to scream trouble for CRE. Many are getting increasingly fantastic. 

Some friends are asking me, “So…I hear it’s pretty tough in commercial real estate right now. How are you doing?” You may have wondered the same thing. 

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I’m really a pretty nice guy. I’ve met hundreds of you in person and spoken to a few thousand more prospects/investors by phone or on Zoom. So, hopefully, most of you agree. 

But as I write this, I’m a bit miffed. You see, our Wellings Capital team is like family. We love and care for each other. So, I hate to see anyone on our team taken advantage of. But it feels like that’s what happened here. 

Our team recently spent over five weeks heads-down on what should have been a straightforward preferred equity investment. I did the due diligence trip in the fall. It was a beautiful mobile home park, and we were eager to add it to our investment portfolio. 

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