100s of abandoned churches for sale

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Ranked: The Top 15 Dividends in 2024 

Sellers are slashing home prices by 25%—or more—in these 10 U.S. cities everybody wants to live in link

• The U.S. housing market is seeing price reductions with 18.6% of homes listed at a reduced rate, up from 17.7% last year. This trend reflects a 34% increase in housing inventory compared to the previous year.

• The Northeast, West, and Midwest regions have seen the biggest price cuts, while the South remains stable with a 0.1% decrease in reductions. Major cities like Providence, Portland, and Tampa experienced the highest jumps in price-reduction shares.

• Popular cities like Phoenix, Austin, and San Francisco saw median price reductions up to 28.2% YoY.

Townhomes gain popularity as builders seek affordable options link

• Townhome starts rose over 3%, helping builders save on land costs and cater to buyers priced out of detached single-family homes. Median lot sizes for new homes shrank by 700 SF from 2022 to 2023 to lower acquisition expenses.

• Cities in the Sun Belt are leading single-family permit issuances, with Houston issuing 232,810 permits since 2020 and home values rising 39%. Dallas follows closely, issuing 207,471 permits and seeing a 47% home value increase.

• Orlando and Tampa have seen some of the highest price jumps, with Tampa experiencing a nation-leading 62% increase in home prices. Jacksonville also recorded high growth, with a 53% increase in values and over 65,000 permits issued.

Senior living industry faces ‘call to action’ moment in quest to meet middle market link

• The "forgotten middle" seniors with incomes between $26,000 and $103,000 could reach nearly 16 million by 2033, with limited affordable senior housing options. Over half will likely face three or more chronic health issues, and almost a third may experience cognitive impairments.

• NORC highlights that only 18% of eligible "near-duals" (low-income seniors just above Medicaid eligibility) are enrolled in Medicare Savings Programs, revealing a gap in access to crucial support. Many in this group are one health crisis away from financial poverty.

• Homeownership rates for older Black adults are projected to drop significantly from 82% to 69% by 2035, exacerbating aging-in-place challenges. NORC emphasizes that racial disparities in assets, such as stocks or Roth IRAs, further limit Black and Hispanic seniors' financial security in old age.

Jumbo loan activity hit a decade-low to begin the year link

• Jumbo mortgage originations dropped to their lowest point since 2014, reflecting a significant 56% decline compared to 2022. Rising interest rates and home prices have deterred even high-income borrowers.

• Only 4% of jumbo borrowers are now locked into rates above 7%, while 75% have rates under 4%, showing the long-term preference for lower rates.

• Jumbo loan applications represented 21% of all purchase loans in July, close to levels seen at the onset of the pandemic in 2020.

Hundreds of abandoned churches for sale: NY Times link

• Church properties are increasingly being converted into homes as religious affiliation declines, with membership dropping from around 70 percent in 2000 to 47 percent by 2021. Small churches, especially in rural areas, are most vulnerable due to shrinking congregations.

• Unique architectural features like high ceilings and timber beams attract buyers, although extensive renovations are often required. Renovation budgets can reach $150,000 or more to make the buildings suitable for residential use.

• Sales of churches are emerging as viable real estate options, especially in cities like Detroit and Asheville. Challenges include rezoning, meeting historic standards, and a longer time on the market compared to traditional homes.

Miami's industrial sector sees record high deliveries link

• Miami's industrial market hit a record with over six million square feet of new inventory, but the construction pipeline has slowed to 3.3 million square feet. Developers are pausing new projects due to high interest rates and costs, waiting for economic clarity.

• West Palm Beach absorbed 301,000 square feet positively, while Fort Lauderdale saw a smaller 24,000-square-foot absorption. Both markets saw asking rents rise, with Fort Lauderdale at $16.72 per square foot and West Palm up 12 percent to $15.81.

• Miami's vacancy rate rose to 5.4 percent, with West Palm and Fort Lauderdale seeing slight increases to 6.4 percent and 5.3 percent, respectively. The largest recent leases in Miami included Starboard Holdings’ 184,968-square-foot renewal and a new 105,960-square-foot lease by Miami International Freight Solutions.

Residential developers are going bonkers for yonkers—with thousands of homes in the pipeline link

• Hudson Piers is set to transform Yonkers with six buildings, starting with 369 apartments and 10,000 square feet of commercial space along the downtown waterfront. Renters can choose from studios starting at $2,500, one-bedrooms at $2,950, and three-bedrooms at $4,950.

• AMS Acquisitions’ developments will add over 2,900 apartments downtown, including 2,000 units at Chicken Island, with construction slated to begin in 2025. The historic Trolley Lofts, with high ceilings and proximity to Metro-North, offer rentals from $2,850 for studios.

• The city's redevelopment focus includes a 1.5-mile public waterfront promenade and new arts and retail spaces. Enhanced amenities in Hudson Piers include a saltwater pool, dog park, and putting green, appealing to renters seeking luxury comparable to NYC living.

Domos transforms property management by leveraging AI to streamline operations, enhance resident support, and boost overall efficiency.

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So many abandoned gems in Illinois

Link to the listing

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Vidit

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