Real estate investors on U.S. coasts target cheap, out-of-state markets

The companies are pulling in money from clients in costly coastal markets that is boosting demand and home prices in the lower-cost cities they target. “In the last 12 months, I’ve seen more cash buyers from California than I’ve ever seen in my career, and I’ve been doing this for 25 years,” said Anne Callahan, a real estate agent in Cleveland, Ohio, where the average rent for a single-family home is up 4.2 percent over the last year, according to Zillow Research.

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This type of investing is not for the faint of heart and I always suggest taking a basic real estate investment class from a local investment group for tips on out-of-state investing. San Jose Real Estate Investment Group is one recommendation.

Rent Growth Is Decelerating In Tech-Dominated Cities

Rents are decelerating in top tech-dominant cities, according to Yardi Matrix research.

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Easy to understand double digit increases in any market will  give way to more normal markets.  Yay , for more normal markets!

Federal Housing Administration Proposes New Rules For Condominium Market

The new regulations will ultimately give the administration leeway to specify new owner-occupancy, commercial and single-unit thresholds. Currently, the FHA requires approved condo developments to have at least 50% of the units occupied by owners, but the proposed rules would extend that range to between 25% and 75%.

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This could be new opportunity for FHA home buyers in Silicon Valley. As many condominiums and town homes complexes do not qualify for FHA or VA financing.  It will be interesting to see if this will plays out into a buyer’s benefit.  Now if we could do something about the $417,000 conforming limit.

Core Companies awaits governor’s signature on bill to start work on Midtown Village residential development in Santa Clara – Silicon Valley Business Journal

The site is already home to 110 occupied single-family-homes, built by SummerHill Homes around 2013, which take up 11 of the property’s 17 acres. Core Companies has proposed adding 165 affordable units for seniors and veterans, 160 market-rate units and 34 townhomes.

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I would like to see the projected prices/rates on these new homes.  Hoping they are truly affordable to seniors and veterans.

Downtown San Jose | San Pedro Square Market

Welcome to the San Pedro Square Market.

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We had a great time last year! Mark your calendars now.

As housing inventory goes down in the United States, Silicon Valley sees an increasing number of homes on the market – Silicon Valley Business Journal

In the third-quarter in the San Jose metro area, median listing prices for homes in the bottom, middle and top-third of the market were $631,000, $946,000 and $1.85 million, respectively. Those prices represent year-over-year increases of 9.8 percent, 8.7 percent and 3.5 percent.

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We had a typical increase in inventory after July.  Working sellers into the market requires a plan for where they are going. Comments like, “If I sell my home, I may never be able to get back into the market if I return.” or “My kids need a place to live, how can I use my equity to help them?”  Great questions and real issues.  There are ways to accomplish your goals in every market.  You simply need the right information and the right professionals.

Is My Abandoned Chimney Hurting My Energy Efficiency?

There are two ways that this type of chimney hurts energy performance. First, the caps on the thimbles and the cleanout door at the base of the chimney are probably leaky, so the stack effect is pulling conditioned indoor air through these gaps and up the flue. Second, the brick chimney probably represents an uninsulated thermal bridge that allows heat to escape via conduction and convection.

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Interesting post on chimneys we no longer use due to spare the air days and the part about keeping them clean.

Counties in Silicon Valley and Bay Area fill up state’s top-10 list for local investment – Silicon Valley Business Journal

anta Clara attained its ranking by finishing in the top 10 in each of the metrics considered.

From 2011 to 2014, the number of businesses in the county grew 5.5 percent, eighth-highest in the state, and GDP grew by $8.1 billion, fourth-highest. Despite Silicon Valley’s reputation for being stingy when it comes to housing, the county’s 8.7 new residential building permits issued per 1,000 homes in 2015 ranked ninth. Finally, the $6,816 per resident the county has raised in municipal bonds over the last five years also ranked ninth.

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Robots May Terminate 6% Of US Jobs By 2021, But The Retail Industry Isnt Worried

Robots are set to terminate 6% of US jobs by 2021.

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Let’s build a wall!  (My apologies. Had to say it.)

San Jose Ideal for Foreign Investors, Says Mayor

Investors from Asia, Taiwan and India, among others, are turning to San Jose as an ideal city. Downtown San Jose boasts six high-rises financed by Chinese investors. Sam said San Jose is benefiting from the declining economy in China, which has a three-to-one debt to GDP ratio.

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Interesting how times change. (?)  However, not clear on the plan for bringing manufacturing back to San Jose.  Doesn’t quite make sense. Unless, of course they are the highest paid manufacturing jobs. #justsayin

Bay Area job market still solid, despite August slip

“In August, California accounted for 42 percent of the 151,000 jobs created in the nation,” said Sung Won Sohn, an economics professor with California State University Channel Islands. “California’s economy is surging while the rest of the country is not so hot.”

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Most interesting detail of the article, ” “In August, California accounted for 42 percent of the 151,000 jobs created in the nation,” said Sung Won Sohn, an economics professor with California State University Channel Islands. “California’s economy is surging while the rest of the country is not so hot.”

Homeowners Regain Equity in Q2 – DSNews

The number of homeowners are in a negative equity position with their homes is dropping substantially every quarter.

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To help with the panicky feeling we all get when the market shows a little flattening, homeowners equity is a great stat to embrace.  The more equity in our housing market, the better buffer we have to ride the waves of the dynamic real estate market.  Keep on building equity America!