The Commerce Department reported on Tuesday that housing starts increased 5.0 percent to a rate of 1.350 million units in May. Housing completions increased 1.9 percent to a rate of 1.291 million units last month.

Still, both starts and completions remain below the range of 1.5 million to 1.6 million units that realtors and economists said is needed to ease the supply squeeze.

According to the NAR, sales of homes priced below $100,000 plunged about 18 percent in May from a year ago. Houses for sale typically stayed on the market for 26 days in May, matching April’s seven-year low and slightly down from 27 days a year ago. Fifty-eight percent of homes sold in May were on the market for less than a month.

First-time buyers accounted for 31 percent of transactions in May, down from 33 percent in both April and May 2017. Economists and realtors say a 40 percent share of first-time buyers is needed for a robust housing market.

Find the complete report at https://www.cnbc.com/2018/06/20/existing-home-sales-may.html

I showed you one that we lost.

How about a property we completed?

Check out the video above and get a few details about our next June WREIA meeting.

If you are interested in the process of bankruptcy – join us on June 18th as we explore the many ways you can find properties that very few people know about. Long before other people know about them too.

Next Monday, June 18th at Washington REIA.

Will I see you there?

Bring your questions for the Q&A section.

Save a few dollars and reserve your seat early. Then join us at WREIA – Monday, June 18th. It will be a great meeting to finally start the summer season, get you motivated, and get some momentum for the rest of 2018.

Join us as we talk about Finding Property In the Bankruptcy Courts.

Meet real people doing real deals in real estate – right here in the DC/Baltimore area.

Reserve your seat at this link.

John Peterson
Founder, Washington Real Estate Investors Association

One Minute Forty Five Seconds about the “One Deal That Got Away”

I knew the value of the property.

I knew what needed to be done to fix it up.

I stuck to my numbers.

We were close to closing the deal.

Someone else bought the property.

They outbid me.

It’s the “One That Got Away”.

The person that did buy the house went ahead and renovated it and I’m sure did very well on the project.

And that’s ok.

There over 17 THOUSAND more chances to find another property from the bankruptcy courts.

Sure, not every case has real estate involved.

But many do.

If you have a good grasp on property values but are struggling to find property that you might be able to buy – at a discount – this next June WREIA meeting is for you.

If you are interested in the process of bankruptcy – join us on June 18th as we explore the many ways you can find properties that very few people know about. Long before other people know about them too.

Next Monday, June 18th at Washington REIA.

Will I see you there?

Bring your questions for the Q&A section.

Save a few dollars and reserve your seat early. Then join us at WREIA – Monday, June 18th. It will be a great meeting to finally start the summer season, get you motivated, and get some momentum for the rest of 2018.

Join us as we talk about Finding Property In the Bankruptcy Courts.

Meet real people doing real deals in real estate – right here in the DC/Baltimore area.

Reserve your seat at this link.

John Peterson
Founder, Washington Real Estate Investors Association

I stopped by the Bankruptcy Court in Greenbelt earlier this week and made a short little video.

Lots of people in our business have no idea what goes on in these courts and all the opportunity it gives for those of us willing to do just a little extra work reviewing some of these files.

If you have a good grasp on property values but are struggling to find property that you might be able to buy – at a discount – this next June WREIA meeting is for you.

Over 17,000. That’s a big number.

But, there is one more item that actually got my attention.

It was the fact that this number was an INCREASE (+2.02%) over the previous year.

In fact, this was the first increase since 2010. Most of us remember that tough period from 2008-2010. People refer to it as the Great Recession.

This increase is a reversal of a trend. Small reversal, yes. But it is something to keep an eye on – and if the trend continues, or even gets larger, there could be an opportunity for those of us looking in this little nook of our business.

My point is this – as a well rounded real estate entrepreneur – are you looking for properties in the Bankruptcy Courts?

This is another skill set that you can take with you anywhere across the country. In fact, if you are looking for property outside of the DC area this process might be perfect for you.

I’ve had a lot of discussions with people over the last couple of years. Most people are getting frustrated that they can’t find property.

Are you looking at Bankruptcies?

In 2017 there were over 17,000 reasons you should be. And that’s only in Maryland!

If you are interested in the process of bankruptcy – join us on June 18th as we explore the many ways you can find properties that very few people know about. Long before other people know about them too.

Next Monday, June 18th at Washington REIA.

Will I see you there?

Bring your questions for the Q&A section.

Save a few dollars and reserve your seat early. Then, come join us at WREIA – Monday, June 18th. It will be a great meeting to finally start the summer season, get you motivated, and get some momentum for the rest of 2018.

Join us as we talk about Finding Property In the Bankruptcy Courts.

Meet real people doing real deals in real estate – right here in the DC/Baltimore area.

Reserve your seat at this link.

John Peterson
Founder, Washington Real Estate Investors Association

Re: Walt Disney

Walt Disney created what has become one of the most lucrative businesses of all time.

The Disney company brought in over 55 BILLION dollars in 2016.

But did you know it started as a result of a bankruptcy?

Most people don’t know that Walt Disney moved from Kansas City to Hollywood in 1923 after he declared bankruptcy with his previous company – Laugh-O-Gram Studios.

Walt had his tail between his legs and was a little embarrassed in the early 1920’s.

He had learned a few lessons from his earlier business and was ready to put that knowledge into action.

And that is how bankruptcy is supposed to be used. It gives people a chance to start over.

Fail. Get back up and go again.

It doesn’t get much more American than that. Entrepreneurship at its very core.

Forward to 2018, nearly a century later. Nestled inside the bankruptcy process is a way for us, as real estate investors, to help people through the process.

If you are interested in the process of bankruptcy – join us on June 18th as we explore the many ways you can find properties that very few people know about. Long before other people know about them too.

Monday, June 18th at Washington REIA.