All Forum Posts by: William Hull

@Michael M. great find, thanks for the info.

Congrats!!

@michaela G. do you think this will work in other areas?

@Christian Bors your posts are always really informative.

I have been thinking about this and found some good reply. 

Sales of existing homes were down in February but this not a sign if a downward trend. New construction that will improve the low inventory of available houses as well as increased consumer confidence will improve home sales in future months. Home sales have continued to increase since the 2010 recession and a new group of buyers, millennials are looking to purchase homes and are adding to the market. The dip for the month is still higher for last year at this time. An improved job market along with the psychology involved with consumer confidence will keep the home sales market viable and continually improving. Some experts however, do not agree with this analysis. They argue that despite a strong labor market and a public desire to purchase homes, sales may not improve because there are not enough houses available for sale right now. Available buyers can't find the houses that they want or pricing if houses are too high. Shortages in inventory appear to be affecting the most affordable homes. Homes under 100k have experienced the greatest decline in sales. Sellers are reluctant to sell their homes if they can't be sure that they can find an acceptable new home to purchase. Rising mortgage rates are affecting the market as well.

Key Takeaways:

• Existing home sales have been improving since about 2011 alongside with the economic recovery.
• There were a couple of dips along the way, the latest in February. However, experts don't read much into this.
• Along with increased consumer demands experts are starting to see inventory shortages especially with the more affordable homes.

"Experts predicted the combination of pent-up housing demand and historically high consumer confidence will increase existing home sales in the months ahead."

Read more: http://www.housingwire.com/articles/39645-experts-dont-read-too-deep-into-februarys-existing-home-sales-drop

Great 4/1 with Newer Big Ticket Items! 4 bedrooms plus 1 car attached garage. Rents will rent $875/month! Hard to find 4 bedroom homes with a garage and this property has them both. House needs a quick tenant turn and you're good to go! There is a tenant in place month to month.

Furnace - 2 years
Water heater - 3 years
Roof - 5 years
Vinyl windows
100 amp electric
1 car attached garage

All cash, as is, Buyer pays all closing costs.

Click here for more PHOTOS!

The author interviewed real estate developer, lender and broker Sean Conlon. Conlon goes on to state that everyone can flip houses and amass a large amount of money, but everyone cannot become a billionaire. Conlon is the star of a new show entitled "The Deed: Chicago", which focuses on helping investors who are having trouble flipping their properties. Conlon claims flipping can be taught and that anyone can do it if you follow his three steps. Make sure you have a realistic idea of the time it takes to flip your new investment. Do not except overnight success, That will hurt you in the long run. Conlon does state that you should not wait too long to get started flipping. The second tip is to ensure you have some savings before flipping. This was you have a cover in case the property doesn't move as quickly as you hoped. Last tip is to never give up. Simply because you fail once that does not mean one must give up and quit. Conlon states that he finds a lot of people find success shortly after they fail. Developing thick skin and a strong outlook on flipping will help you to remain focused on flipping.

Key Takeaways:

• Don't rush into a project, think it through to a reasonable degree first.
• Make sure you have money set aside to get started.
• Don't quit the first time you fail, you need to keep trying.

"That doesn't mean everyone should rush out and buy a house with the intention of flipping it. To be successful, you have to be in the right place."

Read more: http://www.businessinsider.com/signs-you-should-try-flipping-houses

America is currently suffering from a housing shortage. In October of 2016, 2.02 million homes were on sale - a supply of 4.2 months, versus a balanced market supply of 6 to 7 months. The inventory of houses for sale has decreased 4% over the past year. As a result of the low supply and high demand, the cost of a home has outpaced income growth. During the five year period from 2011 to 2016, the average price for a home rose by 42% while average income rose by only 17%. The only way to get over this shortage is to increase the supply of new housing by construction. It is estimated that 1.5 million new homes per year will be needed to attain a balance. The fifty year period up to 2001 did show that number, and the period from 2001 to 2006 yielded an average of 1.8 million homes. However, the recession caused a dip in construction, and only 870,000 units were built per annum from 2007 to 2016. This lowered number was not nearly enough to cover demand. Overall, the country is short by 8.3 million units. The country needs 1.7 million units a year. However, projections are only for 1.3 million homes in 2017 and 1.4 million in 2018. This, it is predicted the housing shortage may last another four years.

Key Takeaways:

• The U.S. is currently facing a shortage of homes for sale.
• High demand for houses has led to higher homes prices over the past five years.
• More houses need to be built to meet consumer demands.

"This shortage of housing inventory is the principal reason why home prices have been outpacing people’s income growth for the past five consecutive years."

Read more: https://www.forbes.com/sites/lawrenceyun/2016/12/13/housing-shortage-for-how-long/?sf46639853=1