Boston's # 1 Real Estate Investors Association and Community
Boston REIA June Newsletter 2021
Kidde Recalling TruSense Smoke and Combination Smoke/Carbon Monoxide Alarms
The United State Consumer Product Safety Commission says Kidde is recalling TruSense Smoke and Combination Smoke/Carbon Monoxide Alarms due to risk of failure to alert consumers to a fire. The recall involves Kidde TruSense Smoke Alarms and Combination Smoke/Carbon Monoxide Alarms. The recalled units are Kidde Model Series 2040, 2050, 2060 and 2070 Smoke and Combination Smoke/Carbon Monoxide alarms. Full Article
Heads up everyone…
The 1st Half of 2021 is almost over…
If you have been using your Boston Home Depot Member Benefit, it’s time to check your Pro Account to see what your spend tracking is.
For the period 1/1/21 to 6/30/21 a minimum spend of $5,000 is required in order to receive your 2% Reward.
Holy Big-Government Batman! Regulatory Costs Add $93k to New Home Prices
Just when you thought lumber prices were jacking up home prices, along comes a new study from the NAHB that says government regulations (imposed by all levels of government) account for $93,870, or 23.8% of the current average sales price of a new single-family home (currently $397,300). Full Article
All-Cash Sales are Rising Sharply Amid Intense Buyer Competition
Amidst the most competitive spring market in 50 years, the share of all-cash sales to existing-home sales surged to 25% in April 2021 as non-first time buyers are paying all cash to increase the competitiveness of their offers, edging out first-time buyers, according to the April 2021 Realtors® Confidence Index Survey. This is a significant increase from the 15% share one year ago and 20% share in 2019. Full Article
Demand for Second Homes Is More Than Double Pre-Pandemic Levels
Second-home buyers are out in full force as affluent Americans continue to work remotely from vacation destinations.
The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth. The record increase should be taken in context: It is likely exaggerated because demand for second homes dropped 24% year over year last April, the month after the coronavirus pandemic hit the U.S. and real estate activity in the country nearly ground to a halt.
Still, second-home mortgage rate locks are holding steady at more than double pre-pandemic levels. Full Article
As more and more people are vaccinated and as more states allow businesses to open, it’s a good time to think about the longer-term fall-out from the pandemic, both nationally and for individual markets.
But first, let’s remember that the pandemic is still here and could upset the optimistic outlook. If large numbers of people refuse vaccination or deadlier variants of the virus circulate or public health measures are not followed, a resurgence of the pandemic could produce an economy that just sputters along.
62% of Dog Owners Would Consider Moving For Their Dog
Dogs have truly become a part of American families, so it follows that they factor heavily into moving decisions—and may even be a catalyst for them as the new American dream is a dog-friendly home.
This includes amenities like having a dog door already installed, proximity to a dog park, and fenced-in yards.
In fact, 84 percent of dog owners say they would spend more for these pet-friendly features, and 86 percent say that having private outdoor space is important to them.