JANUARY 2024 | ISSUE NO. 1
January 2024
NEWSLETTER OFFICIAL NEWSLETTER OF YOUR LOCAL MILWAUKEE REIA
NEWS INSIDE: STATE OF THE UNION GENERAL MEETING A recap of 2023 and looking ahead to 2024
LOCAL AREA MARKET UPDATE Taking a look back at last months statistics
HUD “30 DAY NOTICE” Learn more about this rule for non-payment of rent
New Year, New REIA. INTRODUCING THE MILWAUKEE REIA NEWSLETTER Happy New Year! As we embark on a journey into 2024, we are thrilled to introduce the Milwaukee REIA Newsletter! Crafted with your needs in mind, this newsletter is designed to provide you with timely updates on REIA happenings, as well as essential news and trends in the world of real estate investing, both locally and nationally. Within these virtual pages, expect to find exclusive insights into market trends, educational highlights, member spotlights, and a snapshot of what's transpiring in the dynamic field of real estate. Our aim is to keep you well-informed and connected, fostering a sense of community among our members. Here's to a year filled with growth, opportunities, and success in your real estate endeavors!
Continuing a popular New Years tradition, Eric will be presenting at the January meeting on three main topics:
1. 2.
2023 MARKET TRENDS Every year Eric shares the trends for the Milwaukee REI market. This year, we will take a look back at 2023, and share real numbers from the market and from our own home buying business.
3.
PREPARING FOR 2024 Knowing what worked the year before does NOT always help prepare for the year ahead. Pulling data from across the country Eric will explain how he’s preparing for the coming change in our Milwaukee market.
GOAL SETTING Starting in 2015 Eric has shared both his personal experiences and those of thought leaders. He will discuss the goals he has set for 2024 and how you can do the same.
Coming up soon is the Buy Right Now Workshop. This brand new workshop is a birds eye view of what it takes to find and fix a home right in 2024. Throughout the day, Eric, Bryan and Nik will take you through the process of marketing, meeting with sellers and then determining which disposition path is correct for you and the property. Are you ready to conquer your fears? Sign Up Now!
EARLY BIRD PRICING Now through January 9th: Members: $47 Non-Members: 97
National Benefit of the Month SAVE UP TO 45% WITH FEDEX We’ve worked with FedEx to bring National REIA members discounted shipping rates on eligible services. Sign up for the FedEx Advantage® discounts program to start saving. With the FedEx Advantage program, you’ll get: 45% on FedEx Express® shipping 25% on FedEx Ground® shipping 25% on FedEx Home Delivery® Tier 6/506 pricing on FedEx Ground Multiweight® shipping
CLICK HERE TO SIGN UP
Market Update FOR MILWAUKEE COUNTY
440 Sold Homes
348 New Listings
39.6 AVG Days on Market
$283 AVG Sale Price
$287
95%
$676
98%
AVG Listing Price
Sales Price Ratio
FOR WAUKESHA COUNTY
202 Sold Homes
121 New Listings
30
AVG Days on Market
$553 AVG Sale Price
AVG Listing Price
Sales Price Ratio
Welcome New Members! Ashley Martin
Dominique Manzanet
Daniel Roeming
Andeya Spurlin
Jennifer Hoaglund
Adam Gollatz
Darren Fisher
Candy Kudis
David Cubias
Aidan Frazier
Danielle White
James Robinson Patrick Harrigan
Recent
LEGISLATIVE UPDATES
HUD ANNOUNCES PROPOSED “30-DAY NOTICE” RULE FOR NONPAYMENT FOR RENT WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) will publish a Notice of Proposed Rulemaking in the Federal Register on Friday, December 1. If finalized, the rule would require public housing agencies (PHA) with tenants in public housing and owners of properties participating in HUD Multifamily project-based rental assistance programs to provide their tenants with written notification at least 30 days prior to filing for an eviction due to nonpayment of rent in court. The proposed rule would also require that the 30-day notice include instructions on how tenants can cure lease violations for nonpayment of rent and information on how to recertify their income and request a minimum rent hardship exemption if applicable to avoid eviction. “HUD-assisted rental housing allows millions of people to achieve stability for themselves and their families,” said Solomon Greene, Principal Deputy Assistant Secretary for Policy Development and Research. “This proposed rule would give many HUD-assisted renters an opportunity to catch up if they fall behind on rent and avoid the harmful consequences of evictions, while also preventing landlords and PHAs from encountering costly unit vacancies.” “Preventing unnecessary evictions benefits properties and residents alike, in part because the eviction process itself can be costly and time-consuming for all concerned,” said Richard J. Monocchio, Principal Deputy Assistant Secretary for Public and Indian Housing. “We are very proud of this proposed rule, and we welcome feedback from all interested stakeholders to make it even more practical and effective.” This proposed rule would affect an estimated 3.9 million people in 2.2 million households – 1.7 million people in 840,000 households in public housing and 2.2 million people in 1.4 million households in PBRA programs. Stakeholders can access the proposed rule here and have 60 days following publication in the Federal Register on December 1 to provide comment on the proposed rule. This action also fulfills a commitment HUD made in the Biden-Harris Administration’s Blueprint for a Renters Bill of Rights. In July 2023, HUD also joined the White House to announce three new actions to increase fairness in the rental market and further renter protections in housing: a preview of this notice of proposed rulemaking, an effort to remind public housing agencies and property owners of their obligations and to share best practices for informing rejected applicants about why they were turned down for housing, and $10 million made available for tenant education and outreach in properties supported by the Section 8 Project-Based Rental Assistance program.