Zombies on the run, sales surge dips, new Transamerica tower owner, real estate investing facts, and content houses.
In Today's News
ATTOM Data Solutions Sees Slide in Zombie Foreclosures
The living dead are on the run this Halloween season; at least those that are vacant houses. ATTOM Data Solutions reported today the number of foreclosed homes sitting empty across the country (known as zombie foreclosures) has fallen 4.4% in the past three months.
Why it matters: The number-cruncher's quarterly report also says the number of homes in the foreclosure process itself also has fallen, but the expiration of moratoriums and no stimulus help for the unemployed in sight could soon make things downright scary.
NAR Reports Dip in Month-Over-Month Sales
The National Association of Realtors (NAR) says house sales, as measured by new contracts signed, fell 2.2% in September from October after four straight months of gains. However, the sales pace is still way ahead of last year at this time.
Why it matters: This is the second indicator of slowing sales growth this week after the Census Bureau and HUD reported sales of newly constructed houses had cooled, too. This could be just a breather, of course, during a run that has seen prices soar and availability plummet.
Transamerica Pyramid Center Gets New Owner
The iconic Transamerica tower and two adjacent buildings in downtown San Francisco have been sold by Aegon NV to SHVO, Deutsche Finance America, and a group of European investors for $650 million.
Why it matters: SHVO is on a buying spree, also picking up the landmark "Big Red" skyscraper in Chicago in August, and some notable properties in New York City. CP Executive says the San Francisco buy is the largest single-asset commercial transaction since the pandemic began.
Today on Millionacres
10 Real Estate Facts All Real Estate Investors Should Know Right Now
Home value growth has hit a 15-year high, and ROI in that sector is the strongest since 2002. Who knew? You will if you read this piece by Millionacres' Liz Brumer.
Why it matters: Liz also shares fun facts on eight other topics that can provide macroeconomic insight for real estate investors considering their next moves.
Content Houses are Trending. Are You In?
Want to be in with the in crowd -- and make some coin while you're at it? Millionacres' Maurie Backman looks at the pros and cons of investing in a content, or collab, house, which are big, typically high-dollar, well-equipped homes used by social media influencers to collaboratively stage videos, endorse products, and whatever else it is that social media influencers do.
Why it matters: Maurie explains how the right properties can bring in a ton of rent -- we're talking easily $80,000 a month -- and sell for big bucks when you're done with them because of the notoriety they might gain simply by housing these social media entrepreneurs. But they also require a big investment upfront and a lot of maintenance along the way. Just me, but if I had the bucks to buy a house like that, I'd find an easier way to make more.