The real estate market is getting a lot of attention from high-tech startups. The “real estate tech” field is filled with tech entrepreneurs and innovators who are developing new digital tools, solutions, and systems for the industry. In this episode, I’ve got a short list of those startups worth watching this year.
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Puerto Rico is about to get hit by another kind of disaster. Lending experts are predicting a massive foreclosure crisis because of damage by Hurricane Maria. There’s a moratorium on foreclosures right now, but when that moratorium ends, banks are expected to move in quickly, and start taking homes.
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In this week's Real Estate News in Brief... a rise in long-term interest rates, Amazon’s effect on rental rates, and the hottest U.S. market for international investors.
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Amazon has narrowed its list of cities down to 20 for the location of its second headquarters campus, and Apple announces a similar search but without all the fanfare. Apple hasn’t given further details except that it will “not” be in California where the company is headquartered, or Texas, where it also has a strong presence.
Get the full scoop at: www.NewsForInvestors.com
Senate confirmation of a new Federal Reserve Chairman was quick and easy with support from both sides of the aisle. The Senate approved Jerome Powell as the 16th Fed chair this last week. His opinion on the raising of interest rates is similar to outgoing Fed chief Janet Yellen, but he appears more open to the loosening of banking regulations.
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Zillow is getting hauled back into court over its Zestimate home valuation tool. This time, a new-Jersey based company is suing Zillow, claiming that it hides the Zestimate for some broker listings, but not for others. Zillow has an explanation for the different kinds of treatment but not one that sits well with the plaintiff.
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U.S. homeowners have a record amount of equity they can tap into, but tax laws may change the way they access that money. In the past, HELOCs have made the most financial sense, but tax experts say the best option now could be a cash out refinance, even if it means a small increase in the property owner’s primary mortgage rate.
Get the full scoop at: www.NewsForInvestors.com
In this week's Real Estate News in Brief... government reopens after 3-day shutdown, a confession reveals a home theft scheme during the housing crisis, and real estate tech company Homie expands to a new market.
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California is racing ahead toward its renewable energy goals in record time. Governor Jerry Brown signed a law in 2015 that gave the state until 2030 to produce 50 percent of its energy from renewable sources. The state is doing so well with solar, wind, geothermal and other renewable sources, lawmakers may push that target a little higher.
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Homes with energy efficient upgrades paid for through the PACE program may no longer qualify for an FHA loan. The FHA recently reversed its position on support for the PACE program, citing an increased risk of default among the borrowers which poses a risk to the agency’s insurance fund, and a lack of PACE consumer protections.
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It’s described as one of the “juiciest” lawsuits of 2017 by the Real Deal. The SEC is suing a luxury real estate developer for an alleged $1.2 billion Ponzi scheme that affected more than 8,400 investors. And, the fight for justice and restitution has just begun.
The Houston housing market is surging ahead at record speed, despite the impact of Hurricane Harvey. The Houston Association of Realtors says the Harvey setback was much shorter-lived than anticipated and the Houston metro recorded its strongest performance ever last year.
Hurricane Harvey hit Texas on August 25th, 2017, with 130 mile-per-hour winds. It battered communities along the coast, damaging more than 200,000 homes. Almost 1,300 of them were destroyed altogether.
Get the full scoop at: www.NewsForInvestors.com
In this week's Real Estate News in Brief... cities with amazing job opportunities, a favorite tax deduction take-away, and when you should have more or less credit cards.
Deadly mudslides in Southern California are more proof that natural disasters don’t differentiate between the poor and the wealthy. Heavy rains soaked the hillsides of Santa Clara County on January 9th, and caused major devastation in the upscale community of Montecito. 17 people were confirmed dead by the next day with 28 injured and 23 missing. Hundreds of others remained trapped in their homes, waiting for rescue.
Find out more at: www.NewsForInvestors.com
Dog-friendly rentals are in big demand, and landlords are coming up with some great amenities for their four-legged tenants. But despite the good behavior of most tenants and dogs, some pet owners don’t pick up after their pets. Tenants either don’t see it, or ignore it, and it’s left for the maintenance crew, or worse, someone’s shoe. But fear not! There’s now a way to track down the owner...
This is the time we usually set new goals in hopes of achieving greater success in the coming year. But do New Year Resolutions really work?
The idea of a successful life, one that’s not just about making money, can be represented by a “life balance wheel.” If you search for a wellness wheel on the internet, you’ll find many colorful and inspiring images, but the one we will be using today is from the book “Extreme Success” which is written by life coach and my life partner and co-CEO Rich Fettke.
Check out the full story here at: www.NewsForInvestors.com
Earthquakes have always been a threat in California, and other North American regions. But for people in places like Oklahoma, they were unheard of until a few years ago. Scientists have linked this seismic activity to the oil industry and are working on new ways to detect and control what they are calling “man-made” earthquakes.
A Discovery blog headline reads: “Humans Are Creating the Newest Earthquake Zones in North America.” Earthquakes typically occur in areas where there are active fault zones, but in Oklahoma, there’s hasn’t been any major seismic activity until the more recent method of oil and natural gas extraction called “fracking.”
Get the full scoop at: www.NewsForInvestors.com
A mortgage servicing company accused of robo-signing foreclosure documents during the housing crisis has agreed to a $45 million dollar settlement. That will compensate victims, and settle a long-standing legal battle between PHH Mortgage Corporation and the Consumer Financial Protection Bureau.
The settlement involves 49 state attorneys general, the District of Columbia, and more than 45 state mortgage regulators. There are conflicting reports on which state didn’t take part. One report said New Hampshire. Another report said Colorado.
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In this week's Real Estate News in Brief... we have a new record high for the U.S. housing market, legislation for vacation rental freedom in Florida, and a new Alexa skill that will keep you current on your mortgage.
It’s an old warning from the FTC about the use of cryptocurrency. But, it’s just as relevant today as bitcoin and other digital currencies are becoming more popular and are being used without government oversight. Whether you are on the spending, receiving, or investing side of the (digital) coin, you should beware of the risks.
Get the full scoop at: www.NewsForInvestors.com
Starting this week, new tax rules will usher in the New Year with a big win for residential and commercial real estate investors. It’s still too early to know the full impact of the legislation, but many tax professionals say that real estate investors and other property owners have hit the jackpot.
Experts say it will take months or even years to know the full impact of this bill including the changes in behaviors that the bill will bring about. Here are a few insights on how the new tax rules will benefit both residential and commercial property owners.
Get the full scoop at: NewsForInvestors.com
As we begin a new year, it’s always interesting to take a look at where we were last year at this time. So on today’s show, we’ll take a walk down memory lane - and the stories of 2017 that most affected us as real estate investors.