The ADU Top Ten

Today’s News Synopsis:

If you’re considering investing in accessory dwelling units, what are ten things you should consider?  The FHFA reported home prices increased by 0.1% in May across the country.  Meanwhile, existing-home sales were weaker, having declined 1.7% in June.

In The News:

BiggerPockets “10 Things to Consider When Investing in Accessory Dwelling Units” (7-23-2019)

“As the affordable housing crisis worsens across the country, states like California are considering new legislation to reduce red tape for building accessory dwelling units (ADUs), which are also known as granny flats, backyard homes, casitas, or in-law suites.”

Inman “Home prices rise 0.1% in May” (7-23-2019)

“Home prices across the country rose 0.1 percent from April to May, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI) released on Tuesday.”

HousingWire “Amazon and Realogy gang up on Zillow to entice homebuyers” (7-23-2019)

“You buy toilet paper, computers and paper towels through the Amazon website. Now, you can buy your next house.”

National Association of Realtors “Existing-Home Sales Falter 1.7% in June” (7-23-2019)

“Existing-home sales weakened in June, as total sales saw a small decline after a previous month of gains, according to the National Association of Realtors®.”

ATTOM Data Solutions “Property Data for Insurers: A Must Amid Growing Natural Disasters” (7-23-2019)

“Natural disasters are a growing concern for property owners — and their insurers should be equally worried.”

Zillow “U.S. Rent Growth Accelerates as Home Values Stabilize” (7-23-2019)

“U.S. rent values continued their growth streak, accelerating for the ninth-straight month, according to the June Zillow® Real Estate Market Report.”

MarketWatch – “Another bad sign for the housing market: Remodeling spending is expected to slow” (7-23-2019)

“After years of feverish remodeling activity, Americans are starting to cool on home improvement projects.”

Redfin “Prices for the Most Affordable U.S. Home Up 9% in June” (7-23-2019)

“Prices for the most affordable third of homes in San Jose dropped 3.8 percent year over year in June—from an average of $760,309 to $731,688—the fifth consecutive month of declining prices in the category after six straight years of growth.”

 

California Real Estate Investor Events

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with OC FIBI on Tuesday, August 6.

Bruce and Aaron Norris will be hosting a Florida Boot Camp in Fort Myers Florida August 15-16.

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.

 

Looking Back:

Can’t afford a bigger home?  The National Association of Realtors reported a 0.6% decrease in existing-home sales the previous month.  72 million homes were expected to run on solar power by 2030.

 

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