Friday, May 16, 2014


Have the Kids Left Home? 16 Things to Consider

Empty nest considerations, Warren Buffet acquires Intero, Silicon Valley's fastest growing cities, California median home prices rising, cash buyers, Palo Alto trailer park, middle class home buyers, pros and cons of charging utilities for rentals, and furniture design trends. Enjoy.

Warren Buffett's real estate arm acquires Silicon Valley's Intero - The acquisition of the fast-growing Cupertino real estate brokerage expands Buffett's real estate footprint in California, where HomeServices already has operations in Southern California and the Central Valley. The sale price was not disclosed.

Silicon Valley's fastest-growing cities for 2014: Sleepers gain on big names - Silicon Valley's brand may be most closely associated with wealthy tech enclaves like Palo Alto and Menlo Park, but the region's population is growing fastest in suburbs with much less name recognition.

California median home price reaches highest level since December 2007; home sales register largest monthly gain since January 2011 - The statewide median home price has increased year over year for the previous 26 months. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

One in Three SoCal homes paid for with cash: Who's buying? - Around 33 percent of all home purchases in California were paid in cash in the first quarter, the highest level since 2011, according to RealtyTrac. Beverly Hills, Arcadia, and San Marino were areas with a high percentage of home sales paid in cash, with many all cash buyers coming from overseas.

In Palo Alto trailer park, a symbol of Silicon Valley's housing woes - A three-day public hearing over the future of Palo Alto's only mobile home park, Buena Vista, has residents and lawyers battling the site's owner over a proposed apartment complex for the site and the suitability of the relocation benefits being offered to them, the Palo Alto Weekly reported.

Where Buying a Home is Within Reach of the Middle Class - More than four out of five homes for sale in Detroit and Cleveland are within reach of the middle class, compared with one out of four in New York and Los Angeles and one out of seven in San Francisco. Middle-class affordability is worsening in expensive markets and won’t improve long-term without more construction.

The Pros and Cons of Including Utilities with Your Rentals - One of the many factors that must be analyzed when considering an investment property is the cost of utilities.  Usually, with every investment property there will be some utility costs associated with it.  Sometimes these costs may be minimal as, for example, they are with a single family rental. Other times, they may be significant such as they are with a 24 unit apartment building with a central boiler for heat and hot water.

Trends from the Front Lines of Furniture Design - See what’s hot in furniture now through the designers’ offerings at the 2014 ICFF. My favorites are:

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