Learn About the 4 Common Types of Real Estate

There are different types of real estate, each with its pros and cons which you need to consider to determine which type will bring you the most profits. Real estate is real property that consists of land and improvements, which include buildings, fixtures, roads, structures, and utility systems. Property rights give a title of ownership to the land, improvements, and natural resources such as minerals, plants, animals, water, etc.

For anyone looking to understand how the industry works and what each of the major categories represents, the explanations on this link will be a helpful guide.

10 easy tips to find the home of your dreams

Buying a home is a big commitment, and searching for that home can be a big headache. In a market where mortgage rates are fluctuating and consumer confidence is still shaky, finding your new pad is tough. Find homes for sale in Pittsburgh and all of Western PA. Use the site's many tools to assist your home search that can help you narrow your search, so you don't have to settle.

Should Appraisal Fees & Management Fees for Mortgage Applications be Disclosed to Consumers Up Front?

The consumer bureau is considering whether to shed light on this by mandating two disclosures — what the appraiser is paid and what the management company is taking.

Should you care about this? Absolutely. Although banks and mortgage lenders maintain that there is no need for additional disclosure, appraisers, builders, realty brokers and others say the costs of appraisals to consumers have increased in the last few years, while the quality and accuracy of the work have declined. In a poll of its members last year by the National Assn. of Realtors, 70% reported consumers were being charged higher appraisal fees at closing — sometimes $100 more than was the typical charge previously.  

House Bill To amend title 9 of the United States Code with respect to arbitration. - You Say What?  Tell Congress How to Vote

Finding your next home

Here's a next-level home search experience fueled by “All-in Monthly Pricing,” a calculator that tabulates the monthly cost of each home – itemized to show you all major expenses! A unique search, paired with expert advice, strips the stress from buying a home.

It would be naive to ignore the connection between evictions and homelessness

Between 2010 and 2018, landlords filed 505,924 eviction proceedings in Los Angeles County Superior Court, a figure that the report, titled “Priced Out, Pushed Out, Locked Out,” calls “shocking” and “staggering.

The county has made enormous investments in addressing homelessness, but these efforts are not enough, says Nisha Vyas, director of Public Counsel’s homelessness prevention law project. What we’re seeing is that as soon as people are housed in shelters, they’re replaced on the streets by people who are newly homeless.

Los Angeles County Homeless Services Authority’s 2019 Homeless Count, which found that while 24,493 homeless residents were placed into interim housing in 2018, about 37,000 homeless residents were without shelter for the first time.

The report’s authors also reiterated alarming statistics on the number of residents in Los Angeles who are rent burdened, meaning they spend more than 30 percent of their income on rent. According to an analysis of 26 point-in-time Southern California homelessness counts, an estimated 600,000 LA County residents spend 90 percent of their income on rent.

There is a devastating connection between the county’s lack of tenant protections and its increased rates of homelessness.

Its a proven fact; the importance of keeping renters in their home to help stabilize communities. Households that stay intact can help build generational wealth, leading to public investments in parks, streets, and schools.

California rent control bill advances in Senate this week

AB 1482 could expand rent control in Los Angeles and now includes a “just cause” provision

AB 1482 will have to be vetted next by the senate appropriations committee. If it ultimately approved in the full Senate (it already passed the Assembly) and signed into law by Gov. Gavin Newsom, it would make it illegal for property owners to raise rents more than 7 percent, plus the Consumer Price Index, in one year. The CPI averages about 2.5 percent in California. Homes constructed in the past 10 years would be exempt, and the law would expire in 2023.

The bill was heard by the committee Tuesday afternoon during a marathon session, but because several committee members were absent, it didn’t get the votes it needed until shortly before midnight. Several Los Angeles advocates, including a rep for Mayor Eric Garcetti and organizers with ACT-LA, were at the Capitol in Sacramento to register their support.

California is one step closer toward having statewide rent control.

I believe landlords should have room to operate at a reasonable profit. This bill as amended… gives landlords plenty of room to raise rents, some might argue too much room.

Read more:

https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB1482

Refinance Mortgage, Refinancing Rates, Mortgage Rates

Calculate New House Payment If you owe less than $726,525, you may be shocked by how much Quicken Loans can reduce your total mortgage payments. Try this radically simple mortgage experience and see if you can lock a low rate that will never rise.

Fearing Privatization: Public Housing Activists Push Back Against RAD

Fearing Privatization: Public Housing Activists Push Back Against RAD: Public housing residents say the Minneapolis housing authority shouldn't convert the Elliot Twins towers using HUD's RAD program.

Single-Family Subsidies Are Needed Outside Hot Markets

Single-Family Subsidies Are Needed Outside Hot Markets: There isn’t a tax credit program available to spur investment in single-family residential neighborhoods, but an alliance is working to change that.

Find Luxury Homes and Mansions for Sale

Find Luxury Homes and Mansions for Sale: Find your new luxury home in Los Angeles with Mansion Global, the new luxury real estate listings service.

Things a Real Estate Agent Would Never Have in Own Home - PureWow

Things a Real Estate Agent Would Never Have in Own Home - PureWow: According to Noemi Bitterman of Warburg Realty, a real estate agent would never have these 11 features in their own property.

Pay Off A House ASAP If You Owe Less Than $726,525 And Live In California

If you owe less than $726,525 on your home, use Congress's free refi program. The program itself is totally free and doesn't add any cost to your refi. You'll be shocked when you see how much you can save.

Make one extra mortgage payment each year

Instead of paying a little more each month, make one extra monthly payment each year. One way to do this is to save 1/12 of a payment every month, and then make an extra payment after every 12 months.

Advantages of Buying

OWNING VS. RENTING

Our goals are simple -- to ensure that you're happy with the home you buy and that you get the best deal you can. This describes why owning should be less expensive than renting.

OWNING SHOULD BE LESS EXPENSIVE THAN RENTING

Here's a guideline that may change the way you view your seemingly cheap monthly rent. In order for you to see how expensive a home you could afford to buy while having the same approximate monthly cost as your current rent, simply do the following calculation:

Take your monthly rent, multiply by 200 = purchase price of home

Example: $ 750 x 200 = $150,000

So, in the preceding example, if you were paying rent of $750 per month, you would pay approximately the same amount per month to own a $150,000 home (factoring in tax savings). Now your monthly rent doesn't sound quite so cheap compared to the cost of buying a home, does it?

Even more important than the cost today of buying versus renting, what about the cost in the future? As a renter, your rent is fully exposed to increases in the cost of living, also known as inflation. A reasonable expectation for annual increases in your rent is 4 percent per year.

NO MORE LANDLORDS

A final (and not inconsequential) benefit of owning your own home is that you don't have to subject yourself to the whims of a landlord. When you own your home, the good news is that you're generally in control.

The fundamental problem with some landlords is that they are slow to fix problems and make improvements. The best (and smartest) landlords realize that being responsive and keeping the building ship-shape help attract and keep good tenants and maximize rents and profits. But to some landlords maximizing profits means being stingy with repairs and improvements.

When you own your home, the good news is that you're generally in control -- you can get your stopped-up toilet fixed or your walls painted whenever and however you like. No more hassling with unresponsive, obnoxious landlords. The bad news is that you're responsible for paying for and ensuring completion of the work. Even if you hire someone else to do it, you still must find competent contractors and oversee their work, neither of which is an easy responsibility.

Another risk of renting is that landlords may decide to sell the building and put you out on the street. You should ask your prospective landlords whether they have plans to sell. Some landlords won't give you a truthful answer, but the question is worth asking, if this issue is a concern to you.

Selling Your Home?

REASONS TO SELL

Our goal is to help you make the right decision about whether to sell your house. When you do, we want to make sure that you get the best possible price. People's reasons for wanting to sell their houses are almost as varied as the houses themselves.

People's reasons for wanting to sell their houses are almost as varied as the houses themselves. Here are some of the common, not-so common, and downright bizarre reasons that have prompted sellers we've known over the years to put their houses on the market:

• School district
• Neighborhood
• Better job opportunities elsewhere
• Recent marriage or divorce
• Recent death of spouse
• Additional debt burden due to layoff, medical expenses, disability, or overspending
• Serious house defects that they don't want to fix
• Increased space desires for expanding family
• Diminished space requirements now that kids are grown
• Noisy neighborhood
• Unfriendly neighbors
• Neighborhood shopping
• Climate

SELLING IN A STRONG MARKET

While your personal and financial situation is clearly an important factor in deciding whether and when to sell your house, the strength of your local housing market may also influence your decision.

SELLING DURING A STRONG MARKET

Be happy if you're selling your house during a time of rising or already elevated home prices. If you can afford the transaction costs of selling your current house and buying another home, and if the costs of the new home fit within your budget and financial goals, go for it. Just be careful of two things:

• Don't get greedy and grossly overprice your house. You may end up getting less from the sale than you expected, and the sale is likely to take much longer than it would have if you'd priced the property fairly. If you price your house too high, when you finally drop the price to the right range, you may face lower offers because your house has the stigma of being old on the market.
• Be careful about timing the sale of your current house and the purchase of your next one, if you're staying in your current strong market or moving to another strong market. For example, you probably don't want to sell and then spend months bidding unsuccessfully on other homes. You may get stuck renting for a while and need to make an additional move; such costs can eat up the cash from your recent sale and interfere with your ability to afford your next home.