A success story on a recent flip of a manufactured dwelling (SFR) we financed in Sonora, CA 95370. This subject (see below for before-and-afetr pics) was acquired as REO for $109,500 by seasoned real estate flippers. We arranged a $117,000 rehab loan. Approximately $26,000 in repairs and cosmetic upgrades were made. Although the subject was not [...]
Proposition 5 would amend Proposition 13 to allow homebuyers who are age 55 or older or severely disabled to transfer the tax-assessed value from their prior home to their new home, no matter (a) the new home's market value; (b) the new home's location in the state; or (c) the number of moves.
State legislation that took effect January 1, 2017 gave California cities more flexibility and latitude for allowing homeowners to build Accessory Dwelling Units (ADUs). Last year, the number of building permits for accessory-dwelling units jumped by 63 percent, according to Attom Data Solutions, an Irvine-based real estate data company. Overview An Accessory Dwelling Unit (ADU) is [...]
The rent-to-own model, in which tenants have an option to purchase the home they’re renting from their landlord is now under scrutiny by New York’s top financial regulator. The New York Department of Financial Services (NYDFS) is investigating whether rent-to-own programs constitute predatory lending and has issued a consumer alert to create awareness that lease-to-own, rent-to-own and land [...]
If you have been watching the rental market in California, you’ll have noticed that rents are increasing faster than wages. Jeff Collins reporting in the Orange County Register notes - over the past seven years, rent increased $337 a month on average in Orange County and $450 a month in Los Angeles County, according to Reis [...]
Like a Phoenix rising from the ashes, home prices have exceeded their pre-recession peak. An analysis from ATTOM Data Solutions, reports Median price above pre-recession peaks in 54% of US metros. United States Home Prices & Values According to Zillow's Home Value Index, the median home value in the United States is $213,146. United States home values [...]
There is much hyperbole in the news surrounding the economic impact of a trade war between China and the US, but just how would it effect California real estate? INTEREST RATES John Mauldin, an investment advisor, suggests that US trade with China is so intertwined that less trade could result in higher interest rates causing house [...]
A New Recording fee for Real Estate Documents. California State Capitol in Sacramento The California Legislature recently passed Senate Bill 2, also known as the Building Homes and Jobs Act (“Act”) and was signed by the Governor on September 29, 2017. The Building Homes and Jobs Act (“Act”) imposes a recording fee for real [...]
Housing costs in Los Angels California continue to outpace demand, reducing affordable housing. In an effort to address this housing dilemma, a Los Angeles City Council committee backed a plan for a new fee on the construction of single-family homes, offices, apartments and other developments, with the funds going to pay for affordable housing. Although this [...]
We often hear or read of reports about global capital markets, but just how do they impact the US Housing Market? As I was researching this topic, I read a report that shed some light. In its annual report, The Great Wall of Money, Cushman & Wakefield provides an in-depth analysis of the state of the [...]
