Friday, May 19, 2017

FRIDAY - until the day was gone




- A Small Fixer-Upper Offers a Guide for Flippers
- San Jose City Council declines to enact mobile home park closure policy
- Why Stanford is buying apartments in Los Altos
- California housing market downshifts in April
- California housing affordability inches up in first quarter
- Op-ed: Homeownership creates pathway to wealth
- 12 Ways To Make Any Bathroom Look Bigger

Enjoy!



San Jose City Council declines to enact mobile home park closure policy - Mobile home park owners who want to close them to sell or redevelop the property must now follow steps outlined in the city’s “conversion” policy. Those include paying relocation benefits, offering to purchase the mobile home at its current value and negotiating with the mobile home park residents’ association.


Why Stanford is buying apartments in Los Altos - Stanford University, seeking to provide an additional housing choice for faculty and staff near the campus, has paid $130.5 million for an upscale apartment and retail complex in Los Altos. The university bought Colonnade Los Altos, a complex of 167 apartments and 12,000 square feet of retail space, located at 4740 El Camino Real. The deal, completed April 20, could help some people at Stanford contend with a dearth of housing as rents and home prices rise in the Bay Area.

California housing market downshifts in April - Following a strong first quarter start, California home sales lost momentum in April, while the median home price accelerated to a near-10-year high, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said.


California housing affordability inches up in first quarter - Despite a moderate increase in mortgage interest rates, seasonal price declines and higher household income elevated California’s housing affordability in first-quarter 2017, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said this week. The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in first-quarter 2017 inched up to 32 percent, up from 31 percent in the fourth quarter of 2016 but was down from 34 percent in the first quarter a year ago, according to C.A.R.’s Traditional Housing Affordability Index (HAI). This is the 16th consecutive quarter that the index has been below 40 percent and is near the mid-2008 low level of 29 percent. California’s housing affordability index hit a peak of 56 percent in the fourth quarter of 2012.


Op-ed: Homeownership creates pathway to wealth - Owning a home is one of the best ways to build long-term wealth, providing both equity accumulation and tax benefits over time, wrote Fresno REALTOR® and C.A.R. 2018 President-elect Jared Martin wrote in an opinion piece this week in the Fresno Bee. In 2013, the median net worth of homeowner families was $195,400, while the median net worth of renters was $5,400, according to the Federal Reserve. Minorities struggling to get on the housing ladder will also find themselves at a disadvantage, further widening the wealth gap.


12 Ways To Make Any Bathroom Look Bigger - These designer tricks can help you expand your space — without moving any walls. Some of my faves:











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