What Joe Biden's victory could mean for SoCal housing
President-elect Joe Biden has detailed plans to help low-income renters, and first-time home buyers, that could make a difference for many Californians who face some of the highest home and rent prices in the nation.His progressive agenda was released before the election and there is no guarantee it will pass. The new president likely faces a divided Congress that could slow, or deny, approval of his housing strategy.Biden’s proposals, detailed on his campaign website, include new tenant protection, down payment assistance, community integration proposals and expansion of low-income housing cr...
The San Diego Union-Tribune
The small Michigan village that washed away is fighting back
SANFORD, Mich. — The first three days after the flood, after picnic tables and recycling bins went floating past his house, Aaron Lindgren was so broken he couldn’t talk on the phone.“Text me,” he told everyone, because that way a guy who’s spent his life getting things done didn’t have to try to explain the desolation of not knowing how or where to start.Now he’s good. Thursday marked six months since the Edenville Dam breached 10 miles north of Sanford and unleashed millions of gallons of chaos downstream, through Wixom and Sanford lakes and the Tittabawassee River. Earlier this month, his s...
The Detroit News
Real estate Q&A: Which documents are best to add a relative to the deed of my home?
Q: I am getting on in years and want to leave my home to a relative when I pass. I know I can do this in my will, but I think it might be easier to add him to the deed. I looked online, and there are so many options. What type of document should I use? — AndreaA: Having a proper estate plan for when you pass is one of the greatest favors a person can do for the loved ones you leave behind. People who are grieving should be spared the intricacies of legal matters.Legal documents, such as will and deeds, seem deceptively simple, especially on the internet where countless sites want to sell you d...
Real estate Q&A: What can a landlord do after tenant used security deposit as last month's rent and damaged property?
Q: What can I do if my tenant used their security deposit as their last month’s rent and then left the property damaged? — BrendaA: The security deposit is supposed to be used to offset potential damage to your rental property and should not be used as rent.Many landlords will collect both a security deposit and the last month’s rent when beginning a new lease to avoid this problem. The landlord must keep these deposits in a separate bank account and tell their tenant where the money is held.When the time comes, the property owner may transfer the advance rent from that account to their “opera...
How the pandemic changed home buyer and seller behaviors
The coronavirus pandemic, combined with low interest rates, spurred home buyers and sellers to change how they lived. The pandemic also changed some of their behaviors when they entered the market, according to a report the National Association of Realtors released Wednesday.Those buying homes after the start of the pandemic bought higher priced homes, purchased more often in the suburbs, and planned to spend fewer years in their new homes, according to the association’s nationwide survey of recent home buyers and sellers in July. Those selling early in the pandemic felt more urgency to sell a...
The Philadelphia Inquirer
Is Elon Musk's tunneling company also eyeing Austin?
AUSTIN, Texas — It’s possible that Tesla isn’t the only Elon Musk-led company with its eyes on Austin.The Boring Company, Musk’s tunneling and infrastructure transportation company, said in a post on its Twitter account that it is hiring people in Austin. The cryptic post also seemed to hint at an underground transit system.“Rumor has it that “Austin Chalk” is geologically one of best soils for tunneling. Want to find out? Austin jobs now available,” the tweet said.The tweet included a link that shows eight job postings in both engineering and operations including electrical engineer, mechanic...
Susan Tompor: Refinancing boom continues in 2020 as rates remain low
Hard to imagine but all the noise in 2020 actually might have blocked out the sound of the refinancing boom for many people.But homeowners who dragged their feet and have yet to refinance a mortgage might even snag a lower rate now than if they acted in January or February.The 30-year, fixed-rate mortgage fell to another record low for the week ending Nov. 5, hitting 2.78%, according to Freddie Mac. That’s down significantly from 3.69% for the same time a year ago.The uncertainty relating to the election — as well as the coronavirus pandemic — helped to drive down rates to new lows.Mortgage ra...
Detroit Free Press
Pandemic creates longer waits for home appliances
ATLANTA — Just a few weeks after closing on a new home in East Atlanta, Amy Miller and her husband decided to purchase a new washer and dryer. They ordered a top load washing machine and a dryer from Home Depot in mid-September, expecting the appliances to be delivered about a week after their scheduled move-in. But upon completing the order, they learned the appliances would take almost a month to get to their new home.“When those dates came up, I was like are you kidding me?” Miller said. “I was taken aback. I was like how do they expect us to wash our clothes?”Appliances are just one of man...
The Atlanta Journal-Constitution
GM fast-tracks electric vehicle plans, starts hiring near former Lordstown plant
General Motors CEO Mary Barra said the company will bring new electric vehicles to market faster than anticipated as the automaker announced a major step forward Thursday in its self-driving car development.GM is also making strides in hiring and calling back workers at two of its facilities.GM said it has started hiring what will eventually be more than a thousand workers at its new EV battery plant near GM’s former Lordstown Assembly factory in northeast Ohio. GM will start calling back workers to Factory ZERO in Detroit and Hamtramck starting early next year as it converts the facility to b...
Detroit Free Press
Miami's biggest condo developer is focusing on apartment rentals now. Here's why
MIAMI — The pivot quietly began five years ago.Back then, construction cranes dotted the downtown Miami skyline like the towering alien invaders in Steven Spielberg’s “War of the Worlds.” The real estate industry had recovered from the 2009 recession and was bouncing back hard. Thousands of condos — many of them priced way beyond the reach of local residents — were being delivered or built, completing Brickell’s transformation from office district to dense residential neighborhood.But Steve Patterson, president and CEO of Related Development, the multifamily rental arm of the Related Group, sa...