News

Real estate investing: Who they are, where they buy

02/23/17

IRVINE, Calif. – Feb. 23, 2017 – Who is buying homes? A study by ATTOM and Clear Capital, "Landlord Land," analyzes the "who." It's a deeper look at the recent real estate boom that has seen home prices flirt with all-time highs even as the national homeownership rate remains near its 50-year low.

"Though prices in several markets are nearing pre-bust levels, the composition of both the supply and demand of today's real estate market is starkly different than a decade ago," says Alex Villacorta, Ph.D., vice president of research and analytics at Clear Capital.

Unlike earlier housing recoveries, investors are a higher percentage of today's buyers. A 

Read More

U.S. foreclosures drop to 9-year low

02/02/17

IRVINE, Calif. – Feb. 2, 2017 – In 2016, distressed sales hit a nine-year low, according to ATTOM Data Solutions latest report. In the U.S., 16.2 percent of single-family home and condo sales were distressed sales – bank-owned sales, short sales or foreclosure auctions sold to third-party buyers – down from 18.8 percent of all sales in 2015.

  • Bank-owned (REO) sales hit a 10-year low, accounting for 8.0 percent of all sales in 2016, down from 10.0 percent in 2015.
  • Short sales – homes that sold for less than the combined amount of loans secured by the property – hit an eight-year low, and accounted for 5.5 percent of all 2016 home sales, down from 6.0 percent in 2015.
  • Foreclosure auction sales (trustee's sales or sheriff's sales) sold to third-party investors (not including those going back to the foreclosing lender) hit a nine-year low, and accounted fo

    Read More

Buy vs. rent: Ownership still best in most Fla. metros

01/05/17

Panerai Luminor Replica IRVINE, Calif. – Jan. 5, 2017 – ATTOM Data Solutions just-released 2017 Rental Affordability Report finds that it's cheaper to buy a home than rent one in two out of three (66 percent) U.S. metro areas studied. The report found monthly house payments on a median-priced home – including mortgage, property taxes and insurance – is more affordable than the fair market rent on a three-bedroom property in 354 of the 500 counties analyzed in the report.

"While buying continues to be more affordable than renting in the majority of U.S. markets, that equation could change quickly if mortgage rates keep rising in 2017," says Daren Blomquist, senior vice president with ATTOM Data Solutions, the new parent company of RealtyTrac. "In that scenario, renters who have not yet made the

Read More

95% of foreign investors will spend more in the U.S.

01/04/17

WASHINGTON – Jan. 4, 2017 – The world's the largest international institutional real estate investors plan to boost their U.S. investing this year, with 95 percent of respondents in a new survey saying New York City remains at the top of their list.

The survey of Association of Foreign Investors in Real Estate (AFIRE) members ranked New York No. 1 for the seventh year as the number one U.S. city among foreign investors. AFIRE members have an estimated $2 trillion or more in real estate assets under management globally. The survey was conducted in the fourth quarter of 2016 by the James A. Graaskamp Center for Real Estate, Wisconsin School of Business.

Among foreign investors, the top five U.S. cities are New York, Los Angeles, Boston, Seattle, and San Francisco. The top five global cities are New York, Berlin, London, Los Angeles, and San Francisco.

Globally and domestically, however, Was

Read More

Lease breaks due to medical reasons 

01/02/17

Jan. 2, 2017 — Every landlord will eventually experience the situation in which the tenant wishes to break a lease due to a family, medical or work issue. Under Florida law, unless the lease specifically has a clause or clauses allowing a tenant to be released if a particular event occurs, the tenant will be held to the lease. In reality, the tenant will most likely walk out on the lease anyway, but may be still obligated to you under the terms of the agreement. The question then remains, what will a judge say in court?

The medical lease break
Florida law does not allow a tenant to break a lease due to a medical condition, either preexisting or new, although you may want to allow the tenant to break the lease without penalty in certain circumstances. There are many elderly tenants in Florida who cannot complete their lease terms due to having to be placed in an assisted care facility. Other ten

Read More

State Property Management LLC's goal is to keep you and your tenants informed regarding all matters related to your property. Managers are avail able to answer any questions you may have about your rental property. Our goal is to keep you as informed as needed using any medium. Our mangers are available by phone email or fax to help keep you informed.