13 Tips to Make Moving Slightly Less Hellish

Source: The Atlantic   Buying a new home is an opportunity to celebrate, but the thought of moving boxes and packing up one’s belongings can put a damper on the experience. After all, moving is never fun. But the Atlantic consulted some experts for their advice on how to make the process more bearable. For instance, it’s recommended that you designate a “first night” box so you have the essentials you need readily available when you finally get your possessions to their new home. Tips are categorized by pre-moving, packing, and unpacking. Read the full story

Homeowners Caught in Affordability Squeeze

Even with rising home prices over the past few years, many homeowners who have considered selling are deciding not to because they are caught in an affordability squeeze that is compounded by a lack of inventory, according to findings from C.A.R.’s “2015 Survey of California Homeowners.” More than one-third (35 percent) of homeowners have considered selling their home in the past year, and of that share, about two-thirds (64 percent) are reluctant to sell because they are finding they can’t afford the home they really want, the survey found. C.A.R.’s inaugural Survey of California Homeowners also found that more than half (59 percent) of homeowners have not seriously considered selling their home in the past year, with more than half (60 percent) saying their current home will be their retirement residence. For those who have been in their home 15 years or more, that figure rises to 70 percent who indicated they have not considered selling because their current residence will be their retirement home.  More info

Attracting Young, Diverse Mortgage Bankers

Source: New York Times

 Is the mortgage industry prepared for a younger, more diverse market? Not according to Dan Stevens, CEO of the Mortgage Bankers Association. However, just getting young people interested in the business is a challenge, because of the stigma around mortgage bankers from the recent housing market collapse. Some firms are offering opportunities for younger Americans via training programs, which for many participants is a welcome opportunity to develop new skills. More companies will have to prepare for the coming shift in demographics among home buyers.
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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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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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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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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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