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Rick Sharga0 Posts
Rick is the Founder & CEO of CJ Patrick Company, a market intelligence and advisory firm for companies in the real estate and mortgage industries. An acknowledged subject matter expert on the housing economy, Rick is one of the country’s most frequently quoted sources on the U.S. economy, real estate, mortgage and foreclosure trends, and has appeared on CNBC, CBS News, NBC News, CNN, ABC News, FOX, Bloomberg, and NPR. Rick is a founding member of the Five Star National Mortgage Servicing Association, on the Board of Directors of the Asian Real Estate Association of America and the National Association of Default Professionals, and was twice named to the Inman News Inman 100, an annual list of the most influential real estate leaders. Rick has over 20 years of experience in the real estate and mortgage industries, including roles as the EVP/Market Intelligence at ATTOM Data, EVP for Carrington Mortgage Holdings, EVP of Marketing at RealtyTrac, and Chief Marketing Officer of Ten-X and Auction.com.
COST OF HOME REPAIRS INCREASES BY 4.1% FROM Q1 2023
Slight Decline in Labor Costs Help Slow Overall Increase in Repairs By Rick Sharga, CJ Patrick Company The cost of home repairs and remodeling in the first quarter of 2024 continued to increase, rising by 0.59% from the prior quarter and just over 4% from the first quarter of 2023 according to the Q1 2024 Verisk Remodel Index. Costs once again set new highs for the past decade, rising over
A Look Back at 2022 and Ahead to 2023
Where There is Chaos, There is Often Opportunity By Rick Sharga As we prepare to exit one of the most tumultuous years for the housing market in recent memory, there’s a lot to unpack. The market started the year off white hot, with consumers, and individual and institutional investors competing for limited inventory, driving home prices up another 15% from 2020’s already-high numbers. Housing starts were increasing to levels not
THE CHALLENGING ROAD AHEAD?
The Bottom Line is the Bottom Line By Rick Sharga The fix-and-flip market hit what was probably an all-time high in the first quarter of 2022. According to ATTOM’s first-quarter 2022 U.S. Home Flipping Report, 114,706 single-family houses and condominiums in the United States were flipped in the first quarter, representing almost 10% of all home sales in the quarter — the highest level since at least 2000. The first
Factors Affecting Fix and Flip Investors
But Help Is on the Way…Eventually by Rick Sharga Most fix-and-flip investors will agree that a housing market with high demand, low supply, low-cost capital, and rising prices is their ideal scenario. And generally speaking, that characterizes today’s market. But like many generalizations, this one does not hold up well upon further scrutiny. Partly, this is due to excesses in all the categories mentioned above. Supply of homes for sale—both
ROI Starts with Understanding the True Value of the Property You Are Going to Purchase
The Bottom Line for Investors is Still the Bottom Line by Rick Sharga Perhaps nothing is more important to the success of a real estate investor than properly valuing a property. Over-paying for an investment property is one of the most common mistakes made—particularly by inexperienced investors—and can often be the difference between making a reasonable return on an investment and financial ruin. To a certain extent, investors buying properties
Investors Face Challenges Today, See Better Times Ahead
The RealtyTrac Investor Sentiment Survey™ by Rick Sharga Individual investors today face unprecedented challenges in the real estate market. Limited supply, soaring prices, and unprecedented competition from both institutional investors and traditional homebuyers. How do investors feel about market conditions today? Is the investment market better or worse than it was a year ago, and will it be better or worse six months from now? What are the biggest barriers
