FRIDAY - hanging mistle toe
- GOP tax plans jeopardize California home values, Realtors warn
- Seasonal chill cools rents in hot Bay Area apartment market
- Milpitas: San Jose firm continues BART-related work
- As Fires Burn Near Los Angeles, Destroyed Lots Go Up for Sale in Napa
- Experts Raise Expectations for Home Price Growth in 2018
- Data Watch: What’s Great, and What’s Not, About a Small Home
- Your Checklist for Quick Houseguest Prep
Enjoy!
GOP tax plans jeopardize California home values, Realtors warn - One of the key provisions is the mortgage interest deduction — the tax break homeowners get for the interest paid on a mortgage. Under current law, homeowners can deduct interest on purchases of up to $1 million for a primary residence and one other home, plus an extra $1 million for equity debt. The Senate bill would keep the former cap in place, but eliminate the equity debt deduction, Forbes reports. The House plan would grandfather in existing mortgages, but would cap new mortgages at $500,000. In addition, homeowners would get no deductions for a secondary residence.
Seasonal chill cools rents in hot Bay Area apartment market - Apartment prices in the Bay Area dipped last month, but renters, don’t breathe a sigh of relief — analysts expect prices to continue to climb in 2018. Rental market watchers noted slight declines in apartment prices in November, attributing it to routine seasonal swings in a month where fewer people are searching for housing. The Bay Area remains home to the highest rental prices in the country, with San Francisco topping the charts with a median price of $3,050 per month for a two bedroom, according to rental website Apartment List. A typical two bedroom in San Jose listed for $2,550 in November, while a similar Oakland pad went for $2,170.
Milpitas: San Jose firm continues BART-related work - In May 2016, the council approved a $150,000 contract with RMC for utility engineering support. That agreement — first executed in 2014 — was amended four times to extend the term to June 30, 2016 and increase compensation up to $267,734. The council’s vote last year extended the contract’s term for an additional 12 months and brought the total value of the agreement to $417,734, staff reports state. The $2.3-billion BART Silicon Valley Berryessa Extension Project plans to open for ridership in Milpitas by mid-2018, VTA says.
As Fires Burn Near Los Angeles, Destroyed Lots Go Up for Sale in Napa - The San Francisco Chronicle notes that lots are selling for between $160,000 and $300,000 on average, roughly one-third of what they would have gone for if homes still stood on the property. And realtors expect the market to be flooded with more lots in the months to come.
Experts Raise Expectations for Home Price Growth in 2018 - The United States is in the middle of a supply crisis – the number of homes for sale has fallen on an annual basis for the past 33 straight months. Although building activity picked up slightly toward the end of the year, the biggest surprise of the 2017 housing market was the slow pace of single-family home building, according to the panelists. Only 16.7 percent expect it to change in 2018, a sign that limited inventory will still be a driving force in the housing market next year.
Data Watch: What’s Great, and What’s Not, About a Small Home - Houzz asked more than 200 U.S. homeowners about life in 1,000 square feet or less. Here’s what they said.
Your Checklist for Quick Houseguest Prep - Follow these 7 steps to get your home ready in a hurry for overnight visitors
