63% Increase In Permits For So-Called In-Law Suites

Today’s News Synopsis:

Are “Granny Flats” the solution to the affordable-housing crisis?  The top cities to live in if you want access to fresh food are New York, Philadelphia, and Miami.  Forbes latest magazine showed the biggest red flags to watch out for when buying your next home.

In The News:

National Association of Realtors – “HOME Survey: Housing and Economic Sentiment on Divergent Paths in Early 2018” (3-26-2018)

“New consumer findings from the National Association of Realtors surprisingly show that while a growing share of households in the first three months of the year feel more confident about the economy and their financial situation, those positive feelings are not translating to positive views that now is a good time to buy a home.”

Washington Times – “Artificial intelligence taking over real estate – but what about the cookies?” (3-26-2018)

“Title this, Real Estate Agent: What Job Not to Seek as a Career. That’s because artificial intelligence is steadily creeping into the sector, replacing humans with machines that allow buyers a faster, cheaper and — some would argue — stress-free way of finding that perfect home.”

Redfin – “New York, Philadelphia and Miami are 2018’s Best Cities for Fresh-Food Access” (3-26-2018)

“Boston, Miami and Baltimore Had the Biggest Improvements in Fresh-Food Access since 2014; Oklahoma City, Colorado Springs and Indianapolis are Food Deserts, with the Least Access to Healthy Food.”

Inman – “Which markets are most popular for millennial homebuyers” (3-26-2018)

“We all know that the millennials are going to be the largest cohort of homebuyers for quite some time to come.  It’s no wonder then that researchers are devoting significant time to determining where they are buying now and where they will buy in the future.”

MarketWatch“Could ‘granny flats’ be the solution to America’s affordable-housing crisis?” (3-26-2018)

“In-law suites, granny flats, accessory dwelling units — whatever you call them, developers and housing economists say these units could be a cure to the inventory shortage in real-estate markets nationwide. That is, if homeowners actually show interest.”

Voice of San Diego – “Thanks to a Loophole, Remodels Along the Coast Are Actually New Homes” (3-26-2018)

“Coastal residents have for years hated that developers can tear down small homes in older neighborhoods and build much bigger ones in their place.”

CNBC “California measure could spur more seniors to sell homes, easing the state’s housing crunch” (3-26-2018)

“A proposed ballot initiative in California could encourage older homeowners with larger homes to downsize and move to other counties, freeing homes for younger families and potentially easing the state’s chronic housing shortage.”

Forbes – “11 Red Flags to Avoid When Buying Your Home” (3-26-2018)

“Buying a home is an exciting time. It is hard not to get caught up in the hype and fall in love with every property you see.”

 

Bruce Norris will be presenting Stay Put or Cash Out with IVAR on Wednesday, April 4.

Bruce Norris will be presenting Stay Put or Cash Out with Pasadena FIBI on Thursday, April 19.

Bruce Norris will be presenting Stay Put or Cash Out with the OCRE Forum on Wednesday, May 9.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

 

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