Oregon landlords are taking the state to court over an eviction moratorium that now runs through June of next year. Lawmakers also approved a compensation fund for landlords, but landlords say it will provide nowhere near enough money for landlords who are owed months of back rent.
In this Real Estate News Brief for the week ending December 26th, 2020, mortgage rates hit another all-time low, new stimulus help for renters and landlords, best grocery store for home values, and reports on the GDP, the job market, consumer spending, and new and existing home sales.
In this Real Estate News Brief for the week ending December 19th, 2020... single-family rent growth picks up, remote work migration could surge, a creative new venue for indoor restaurant dining, and reports on the job market, residential construction, and another new low for mortgage rates.
Tis the season for a more than a normal amount of Christmas decorating. With pandemic stay-at-home orders and curfews, demand is skyrocketing for Christmas trees, holiday lights and other decorations. It’s a way to shake off the pandemic gloom, and bring an otherwise difficult year to a close with a few festive memories.
There’s a home equity bonanza going on right now. Over the last year, the value of mortgaged homes has gone up $1 trillion. CoreLogic research shows the year-to-year increase is 11% from the third quarter of 2019 to the third quarter of 2020. That’s great news for borrowers, especially those at risk of foreclosure because of the pandemic.
In this Real Estate News Brief for the week ending December 12th, tenants who owe back rent, CEO 2021 forecast, tiny home popularity, NAR’S new non-profit, and reports on unemployment, inflation, consumer sentiment, and mortgage rates.
Airbnb made big headlines as it re-launched its plan for an IPO. The home-sharing company started trading on December 10th as ABNB on the NASDAQ. But that’s only half the story for Airbnb. It also announced Airbnb.org to help relief workers and medical staff find shelter during a crisis, like the pandemic...
If you are interested in Opportunity Zones, you should expect some changes to the program under the new Biden Administration. The program is getting bi-partisan support, but Joe Biden and his team feel it’s not doing enough to help distressed neighborhoods. The Biden website talks about reforming Opportunity Zones, to make sure they provide benefits to the local community and not just the investors getting the tax breaks.
In this week’s Real Estate News Brief, the FHFA extends the moratorium on evictions and foreclosures, and reports on unemployment, pending home sales, construction spending, mortgage rates, homeownership affordability for renters, Airbnb IPO plans, and the surging demand for build-to-rent homes.
Co-living appears to be doing quite well, despite the pandemic. A new report from Cushman & Wakefield shows a rent collection dip toward the beginning of the pandemic, and a rebound from there. Even though we’re still dealing with the pandemic, co-living companies are moving forward with plans for major expansions across the U.S.
California voters approved a real estate measure that will help older homeowners, but it could have a big downside for their children. Proposition 19 allows seniors, the disabled, and disaster victims to take their low property tax base with them to a new home. But it also reduces that protection for their heirs.
In this episode, reports on the GDP, unemployment, consumer spending, home sales, home prices, and consumer confidence. Also - mortgage rates, conforming loan limits, mortgage activity, the importance of friendly neighbors, and real estate gratefulness.
The Department of Housing and Urban Development is proposing a change to flood insurance rules that could bring costs down. The proposal would allow borrowers with government-backed loans to buy flood insurance from private companies instead of the National Flood Insurance Program.
As the coronavirus pandemic gets worse, some states are beginning to implement new restrictions and lockdowns on non-essential services. That’s reigniting a battle on whether real estate should be considered “essential.” Here are a few talking points in defense of the industry.
The Federal Reserve and the Treasury are at odds over the need for economic relief, while unemployment claims rise. Good news on the housing market and mortgage rates, although NAR warns about high home prices. The latest rent collection numbers, and a few words of wisdom from Jamie Dimon about the traits of a successful leader.
With Joe Biden set to become the 46th President in January, there’s plenty of talk about how his policies will impact housing. This is especially important as the red hot housing market becomes less affordable for both owners and renters, and builders are unable to fill the inventory gap.
Biden’s plan includes a $15,000 tax credit for first-time homebuyers, expansion of the Section 8 voucher program, and billions of dollars for new construction, renovations, and energy retrofits.
In this Real Estate News Brief for the week ending November 14th, 2020… homebuyers on pause, big earnings for a cloud-based national realty, and a fraud warning for landlords and property managers. We begin with economic news that was impacted by a tense political standoff over the presidential election and a surging number of coronavirus cases. Home buyers hit the pause button, and consumer confidence fell to a three-month low, but the housing market is still booming.
Hubzu’s new mobile app, Homesnap’s new home pricing tool, SafeShowings expansion in California, and a mysterious money-raise for a tech venture by ex-Zillow execs.
Hubzu is making it easier to have on-the-go access with a new mobile app. The online marketing platform gives users a way to find and bid on residential real estate auctions that include foreclosures, short sales, and retail sales. The app will give users mobile access with iOS and Android phones.
It’s the first time since the Great Depression that a majority of adults are living with Mom and Dad. Blame it on the pandemic, college closures, and job losses. A study by Pew Research shows that 52% of young people are living with one or both parents.
The latest economic news on economic policy, the job market, construction spending, mortgage rates, California rent control, zombie foreclosures, and a builder’s effort to reduce his carbon footprint.
We begin with economic news from this past week and another vote by the Federal Reserve to leave overnight interest rates right where they are, near zero.
Board members met for their monthly meeting in the midst of a contentious presidential election. It now appears that former vice president Joe Biden will be our next president, although President Trump's team is calling for recounts and litigation.
Several housing organizations filed a lawsuit accusing Redfin of a modern-day form of redlining. At issue is the level of service that Redfin offers to different communities and whether minority communities are being shortchanged. Redfin denies any discriminatory practice, saying decisions are based on legitimate business reasons.
In this Real Estate News Brief for the week ending October 31st, 2020... a report on the strength of the economic rebound, a forecast on 2030 home prices, and the primary reason that people are looking for new homes.
It’s been a volatile week for the stock market as investors worry about the pandemic and the presidential election, but there are some strong economic reports to share, including one on the third quarter GDP.
New California law gives owners, tenants, non-profits, and local governments a chance to outbid investors who buy foreclosures. It also bans the “auction bundling” of foreclosed homes, and prevents foreclosure blight with big fines.
The Mortgage Bankers Association is forecasting another busy year for lenders. It’s predicting that American home buyers will be taking out a record number of home loans in 2021 while refinancing activity slows down.