It’s another beautiful Saturday in St. George, Utah, and the Ironman triathlon is well underway. Which means it’s almost my tee off time at the Southgate golf course. However, before I take off to enjoy my day, there were a few real estate related news items that seemed worthy of repeating. Down from 5.1%, the future home price index (HPI) has hit its peak, according to Vero’s national forecast. Per their report, the overall US market will appreciate approximately 3.4% over the next 12 months. Veros measures the national real estate market and updates it quarterly. Scrubbing over 1,000 counties, nearly 315 metro areas, and over 12,000 ZIP Codes.
Fortunately for Realtors that specialize in multifamily units, as well as owners of multifamily apartment units, real estate investment trusts (REITs) have been on an aggressive buying rampage as of recent. Concentrating on market areas where the price per square foot “pencils” as income property – according to Brady Titcomb – a research director for US multifamily 4J LLC.REITs.
And last but not least, on this bright and beautiful Saturday – those technologically inclined Realtors who find themselves predisposed to try and market their properties by utilizing today’s newest advancements – you might soon be facing new complications. Example: a real estate agent in Santa Fe, New Mexico, who recently purchased and utilizes a drone to highlight his listings best assets, could potentially come under more scrutiny, if the federal government has anything to say about it.