Friday, November 11, 2016

FRIDAY - hallelujah

Greenpoint Townhouse

- Trump victory creates great divide among housing experts
- It takes two -- million dollars, that is
- Bay Area Voters Pass Housing Relief Measures
- Bay Area voters supporting BART renovation and extension to downtown San Jose
- Trending Now: 15 Dream Closets to Admire


Trump victory creates great divide among housing experts - Housing was a topic that was definitely absent from the campaigns. But perhaps that is what is dividing this market even more: no one really knows what a Trump presidency means, or what he will do when it comes to the housing industry.  and perhaps will stay that way until more is known about what kinds of decisions Trump will make once he reaches the White House. As for a December rate hike? What seemed like a sure-thing before is now the topic of much uncertainty.

It takes two -- million dollars, that is - The inventory of available homes remains low in the area, he said. Sales dropped from 600 homes in Palo Alto in 2007 to 400 last year. With a somewhat less-competitive market, selling strategies employed a year ago need to be modified. Dreyfus said sellers this fall can no longer set prices artificially low and expect hordes of eager potential buyers to show up on their doorsteps, with a resulting bidding war spiraling the eventual sale price ever higher. Sellers need to be satisfied with more realistic asking prices today in a market that shows a bit more in common with the way houses are sold elsewhere around the country.

Bay Area Voters Pass Housing Relief Measures - The Bay Area has been gripped by an affordability crisis in its housing market over the past decade, as wealthy tech workers have driven prices up in a market constricted by a lack of new housing. Business Insider compiled a list of the most expensive cities to pay rent in the United States, with San Francisco topping the list. Nearby Oakland ranked fourth and San Jose took the fifth spot. Expensive rental prices have extended to other communities on the Southern Peninsula, including Palo Alto, Sunnyside, Menlo Park and Redwood City.

Bay Area voters supporting BART renovation and extension to downtown San Jose - In Santa Clara County, Measure B asked voters to raise the sales tax by half a cent for every dollar spent to fund a host of freeway and transit improvements, including funding to bring BART to downtown San Jose, raising more than $6 billion over the next three decades. Measure B was garnering 71% support, with an estimated 48% of the ballots counted.  

Proposition 64 would impose state taxes on the cultivation and sale of marijuana. But it also allows local jurisdictions to add taxes of their own, something many cities and counties said they plan to do. 
Economists warn that burdensome taxes and fees on the nascent industry could backfire, fueling the black market and pushing marijuana businesses to decamp for towns where it’s cheaper to operate. For many city and county officials across California, however, the promise of new revenue to fill budget gaps and fund services is too alluring to pass up.

Trending Now: 15 Dream Closets to AdmireThe most popular new closet photos on Houzz appeal to the neatnik or clotheshorse in all of us. Which do you prefer? Some of my faves:

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