In this week's Real Estate News in Brief… an update on tax return audits, a seller who’s saying “no” to Trump, and a surprising new addition to Yosemite, for coffee drinkers.
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It’s a big first for Airbnb hosts who want to use their rental income to qualify for a refinancing loan. Fannie Mae and three lending institutions are now allowing those homeowners to use that income to qualify. There’s also an insurance catch, however, because lenders require home insurance, and most traditional insurance companies don’t cover Airbnb rentals.
A new super strong wood product could be the next great eco-friendly building material. University of Maryland researchers say it’s not only stronger and lighter than steel, it’s also a better insulator than Styrofoam.
The UM College Park researchers are calling their creation “nanowood.” They made it by separating the wood fibers from other components of the wood, and then compressing it for 24 hours at high heat. The end product is a very dense wooden plank that’s about one-fifth the thickness, three times the density, and 11.5 times the strength of the original piece of wood.
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The Millennial mindset is setting new trends in many ways, and one traditional insurance company is paying attention. Travelers is introducing a new policy called “Traverse” that’s designed for the so-called Millennial lifestyle. And it isn’t the only insurance company that’s breaking new ground.
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A San Francisco-based nonprofit with a lofty goal to end homelessness is introducing what could become a quick and easy solution for many parts of the world. New Story partnered with housing tech company ICON less than a year ago to create a 3-D printer that can build an inexpensive tiny home in just hours, and they are announcing their first completed home.
In this week's Real Estate News in Brief… home sales spike, the Fed delivers a rate hike, and a warning about spy cameras during property tours.
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We’re headed into the spring buying season with too few homes on the market to satisfy demand. That’s sure to create competition among buyers. But what about agents? There’s been an increase in the number of brokers and agents over the last several years who are facing stiff competition to land those deals, and to make a living -- especially those new to the business.
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Many millennials are still hunkering down with Mom and Dad, but more and more of them are jumping into homeownership. A new report from the National Association of Realtors shows that millennials accounted for 36% of all home purchases last year, making them the most active generation of home buyers for a fifth year in a row.
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It’s hard to imagine a shopping district without a Toys "R" Us store but the company has been struggling with bankruptcy, and just announced that its closing all its U.S. stores. That’s going to leave a lot of vacant real estate in prime retail locations across the country. It’s also raising more questions about the survival of retail stores and whether this is part of a so-called retail apocalypse, or another sign of disruptive forces in the path of progress.
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A recent court ruling on pension benefits could be a warning sign for anyone relying on that sort of retirement income. In a case between the state of Rhode Island and the Cranston Firefighters union, a U.S. appeals court ruled that the state has the right to reduce benefits because pension agreements are not a binding contract.
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The driverless car revolution is taking a giant step forward in California. State officials have approved the testing of driverless cars without the safety driver, and those cars could show up on California roads as early as next month. It’s only a matter of time after that, that driverless cars will have a much greater effect on our lives, including how and where we live.
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In this week's Real Estate News in Brief... we have the unraveling of bank regulations, a housing crisis settlement between Lehman brothers and hedge funds, and a role-playing game among Millennials that will get you thinking about homeownership.
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Flipping homes has never been so popular. A new report shows a record high number of flipped homes in 2017, but don’t be misled by TV shows and real estate gurus who make it sound easy. Flipping a home for profit is a whole lot more complicated, and financially risky than what marketers may lead to believe. And digging into the recent numbers, it also appears that profits from recent flips have dropped a bit.
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A national brokers group is pushing Congress for a ban on mortgage trigger leads to protect homebuyers. The National Association of Mortgage Brokers says that trigger leads can put consumers at risk of identity theft and deceitful phone calls from competitors. The group wants Congress to add language about a ban to a bill related to the Equifax breach.
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The tug-of-war over access to a popular San Mateo County beach could wind up in the nation’s highest court. Silicon Valley billionaire Vinod Khosla has filed a petition with the U.S. Supreme Court in his defense against a lawsuit by the Surfrider Foundation. Legal experts say if he wins, his case could turn the California Coastal Act upside-down, and put beach access for millions of people at risk.
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A Canadian company that makes swimming pools from old shipping containers is suddenly in the world spotlight. The Vancouver-based Modpool creates pools that can be dropped into your backyard and ready for swimming the same day. After only about a year in business and YouTube videos on the pool’s unique features, orders are now coming in from around the world.
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In this week's Real Estate News in Brief... tariffs, trade wars, and protectionism hog the spotlight, Trulia turns the tables on housing affordability, and plans for a drone that’s controlled by “eye movements.”
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Paint companies trying to sidestep a court order for lead paint removal, are now pushing for a ballot measure that would shift the cost burden to California taxpayers. The measure is being called “The Healthy Homes and Schools Act of 2018” to clean up lead paint and other environmental hazards in old homes, but the state attorney general says it’s a wolf in sheep’s clothing.
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Population growth is one of the primary metrics for evaluating good real estate markets, and the latest reports from two prominent moving companies show some new list toppers. An analysis on truck rental rates also provides an interesting perspective on the current migration patterns to and from the San Francisco Bay Area.
U-Haul published its 2017 review earlier this year for top population growth cities, and top population growth states. It put those two lists together from data on truck rentals that show U.S. moving patterns throughout the year.
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Wealthy Mexicans are eyeing South Florida real estate as their presidential race heats up. Florida realtors say they’ve seen a noticeable uptick in the number of Mexicans buying properties as worries increase among the Mexican elite over the possible election of a leftist president.
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Market timing is never an exact science, but a few Harvard researchers say they can predict when a local real estate market is heating up by analyzing data on Yelp. They say that by looking at reviews on Yelp, along with some corresponding government data, they can identify the start of gentrification, and the likelihood of higher home prices.
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Today’s show is going to be my opinion, not the news. You’ve been warned!
First, I want to thank the people who have reached out and given great reviews this week! Thank you to "Contractors turned Investors" for sharing that your business is growing fast because of your understanding of the market through my updates. I love to hear that!
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In this week's Real Estate News in Brief... we have another squeeze on home sales, a rewrite of the Dodd-Frank banking rules, and a green pig stunt that backfired.
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Whether you believe in global warming or not, some cities are taking the potential threat seriously. New York City hopes to protect itself from the possibility of rising sea levels by building a wall of high-rise buildings anchored into the Hudson River, surrounded by floating landscape pods. And now, PayPal Founder Peter Thiel hopes to build a floating nation in the Pacific Ocean that’s ready for residents in just a few years.
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The new tax reform bill is apparently full of mistakes that will need fixing. A few glitches can be expected with such a massive piece of legislation, but some say that there are an unusually high number of errors this time. Republicans will need help, but may have a tough time getting Democratic support to patch it all up.
President Trump signed the massive Republican tax cut bill just before Christmas after a whirlwind effort by lawmakers to finish it before the end of the year. Experts say the errors are probably the result of this breakneck accomplishment.
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