Califexit? Head to Florida, Texas or Nevada

Today’s News Synopsis:

Looking to save money on taxes?  New home sales increased by 4.5% in March according to the Commerce Department.  Could you have a better chance of selling your home if you held an open house?

In The News:

Zillow “Inventory Growth Fueled by Softening Demand, Not More Sellers” (4-23-2019)

“Despite an increase in the total pool of for-sale inventory, the number of new listings on the housing market has fallen year-over-year in each of the past four months, according to the March Zillow Real Estate Market Report.”

Redfin – “Do Homes With Open Houses Sell for More Money?” (4-23-2019)

“Nationwide, homes with open houses sell for $9,046 more and spend seven fewer days on the market than homes without open houses.”

Los Angeles Times – “U.S. new-home sales climbed 4.5% in March, and prices sank” (4-23-2019)

“Sales of new U.S. homes increased 4.5% in March, the third straight monthly gain as the housing market appears to be cautiously recovering from a mortgage-rate spike last year that caused homebuying to slump.”

Curbed “Central Florida’s boom shows true picture of U.S. Real Estate trends” (4-23-2019)

“Last week, the U.S. Census Bureau released its 2018 local population estimates, temporary snapshots ahead of the formal census in 2020, and the cities posting the fastest growth rates came as no surprise: oil towns in Texas, cities and suburbs in tech-forward Utah, and Boise, Idaho, where an influx of cost-crunched Californians has strained the city’s affordability, all ranked high.”

Bloomberg “U.S. Homes for Sales Are Remaining on Market Longer” (4-23-2019)

“Softening demand is keeping U.S. homes on the market longer and homeowners appear to be thinking twice about listing their properties, according to data firm Zillow’s Real Estate Market Report for March.”

Fox Business “Florida, Nevada, Texas hot spots for Americans looking to save money on taxes” (4-23-2019)

“The number of high-tax states residents moving to places like Florida, Nevada, and Texas is continuing to climb, according to a mother-daughter team who dominate in residential real estate.”

Money “Here’s How Much Adding Solar Panels Will Boost Your Home’s Value” (4-23-2019)

“Solar panels are good for the environment, but are they good for the value of your home? A new study suggests the answer is yes — although whether it’s enough to actually cover the cost of the panels depends on where you live.” “Trapped in a Home Decor Rut?  Try These 6 Tricks to Shake Things Up” (4-23-2019)

“When you’ve lived in the same place for a few years, things can start to feel stale.”


California Real Estate Investor Events

Bruce Norris will be speaking with Harry Barth in their webinar Critical Decisions Property Investors Need To Make Right Now on Tuesday, April 3o.

Aaron Norris will be presenting Innovating Real Estate Marketing with the Moreno Valley Professionals on Wednesday, May 8.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with WEREP on Friday, May 10.


Looking Back:

Bidding wars were springing up in some surprising places.  The National Association of Realtors reported a 1.1% increase in existing-home sales in March.  Luxury developers could benefit from a new tax break that poorer neighborhoods were about to receive.


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