Wednesday, October 7, 2015

Four Homeownership Myths to Avoid

Source: CNN Money
Buying a home is one of the biggest decisions you’ll ever make, so you might want to talk to your REALTOR® for advice and also consider whether or not you’re getting stuck on one of these common real estate myths before signing on the dotted line. For instance, remember that you’re buying a home to suit both your future needs and your current ones, so if you want to travel in the future, a home with a lot of outdoor upkeep may not be wise. In addition, it may be best to purchase a home based on your family’s budget and needs, not your guesses about what the future may or may not hold regarding the market.
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Wednesday, September 30, 2015

LA on track to build 100K new homes by 2021, mayor says

Source: KPCC
The city of Los Angeles is on its way to meeting the goal of producing 100,000 new housing units between 2013 and 2021, according to Mayor Eric Garcetti. In the last two years, the city has permitted nearly 26,000 new housing units, and during the last year alone, the city approved $7 billion in new construction. Additionally, in 2017, the city will unveil an online portal that’ll serve as one-stop shopping for developers, where they can deal with everything from building safety to street lights and sanitation. 
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Wednesday, September 23, 2015

Rent hikes have sparked bidding wars and sent tenants scrambling

Source: OC Register
Bidding wars have become more frequent in hot housing markets like Orange County, particularly for rentals amid short supply. Desperate applicants have had to resort to offering to pay a year’s rent in advance; several others have offered to pay at least $50 a month over the landlord’s asking rent. Jane Lewis, property management director for Seven Gables Real Estate, commented, “The rental market is so crazy now, it’s almost like you’re buying a place.” Tenants complain the search process has grown longer and increasingly frustrating, if not financially painful.
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Wednesday, September 16, 2015

U.S. Construction Spending Hits a New Post-Recession High

Source: Wall St. Journal
According to the Commerce Department, total construction spending climbed 0.7 percent from the prior month to a seasonally adjusted annual rate of $1.083 trillion, which is the highest level since May 2008. Since U.S. construction spending rose to the highest level in more than seven years in July, it appears that the construction sector overall is one of the strongest parts of the economy and could help fuel growth. Private building led the way, with both residential and nonresidential construction hitting new post-recession highs.
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