News About Properties

News about properties and real estate
July 12th, 2015

Residential development showing North Hyde Park’s good side [Central Florida]

The legend of Kennedy Boulevard being the great dividing line between Cool Tampa and the rest of the city may be fading.

The latest evidence? A residential boom appears imminent in North Hyde Park, a neighborhood of former warehouses and light industry just north of Kennedy that has been targeted for several new apartment, town home and mixed-use projects.

“There’s just a buzz of activity in the North Hyde Park area that we hope is continuing,” said Stefan McSweeney, a director with St. Petersburg-based Cardinal Point Management, which is proposing a mixed-use project at 301 N. Rome Ave. “For us, it’s a mix of the demographic of people that want to be in an infill location. It’s close to the highway (Interstate 275), close to downtown, close to South Tampa. We see that as good long-term potential for our project and a lot of other ones in the immediate area.”

via Residential development showing North Hyde Park’s good side.

July 12th, 2015

Seattle’s Luxury Homes Get a Tech Boom Boost

The technology boom is pushing its way north up the Pacific Coast, boosting real-estate prices, sparking neighborhood squabbles and creating new demand for luxury homes asking $1.5 million or more.Real-estate agents say Seattle, the longtime home of software giant Microsoft and online-retailing behemoth Amazon, is attracting more technology firms because it offers a combination of local talent and lower housing prices than the tech centers of California.

In the past year, Best Buy, Alibaba and HBO have announced or opened IT-related operations in the city, according to the Seattle Metropolitan Chamber of Commerce. Amazon will add to its Seattle footprint with two new buildings, while Google, Facebook, Twitter and Hulu have all expanded their Seattle offices in the past few years.

via Seattle’s Luxury Homes Get a Tech Boom Boost.

June 22nd, 2015

Guernsey: Where Home Buyers Find Shelter (From Taxes)

It is sandwiched between England and France, yet it is not part of the European Union. Its expat community is mostly made up of seniors looking for an old-fashioned way of life. And it expects foreigners to pay at least twice as much as locals for the privilege of living on its 30-or-so square miles.

Could old Guernsey be the world’s most unlikely tax haven?

The quirky little jurisdiction is one of seven permanently inhabited islands in the English Channel and sits about 90 miles south of Britain’s mainland. But despite the proximity, Guernsey and neighboring islands like Alderney are little known even to the British.

via Guernsey: Where Home Buyers Find Shelter (From Taxes).

June 22nd, 2015

Reverse-mortgage change saves homes for surviving spouses

Soon after Judy Stephens, of Lafayette, La., lost her husband in January, she got hit with more bad news, this time from the mortgage company. She needed to come up with $107,000 — the amount of principal, accrued interest and fees racked up by the reverse mortgage on the home she owned with her husband for the past 16 years — or face foreclosure.

She didn’t have the money, nor could family members come up with the cash needed to buy the house. So, Stephens told me last week, the mortgage company informed her that it would foreclose in mid-August.

Why? Because like an estimated 12,000 other widows and widowers around the country, Stephens, 65, is a “surviving spouse” whose name does not appear on the reverse-mortgage note. Though she and her husband, Raymond, had been assured multiple times since 2009 by loan officers and others that in the event of her husband’s death, she could continue to live in the home indefinitely, the reality turned out to be starkly different. She was not protected.

via Reverse-mortgage change saves homes for surviving spouses.

June 11th, 2015

Quirky Homes Show Their True Colors

Hosam Haggag and Fatima Rahman bought a fixer-upper in a historic neighborhood in Santa Clara, Calif., for $415,000 in 2011. Because of its shabby condition, the house was a rare bargain in Silicon Valley, where Mr. Haggag is a product manager for a large technology company. As part of a 2½-year renovation that cost almost as much as the house, the exterior got a new coat of colors: yellow, pink, blue and green with orange trim—hues that mimic the house in “Up,” a popular children’s movie.

“We drove our 3-year-old daughter by the house and said ‘That’s our house. We’re going to live in it,’ ” said Mr. Haggag. “And she said, ‘Yes, and then we’re going to fly away.’ ” It was a joyous moment for Mr. Haggag, 29, who said they chose the look to delight their two young daughters, and because it made them and people who passed by the house happy.

As the housing market and broader economy have recovered, some luxury homeowners and residential developers are going loud and proud with exterior colors. The playful palettes are a form of self-expression for families that want their house to stand out, and a way for urban developers to broadcast youth and trendiness.

via Quirky Homes Show Their True Colors.

June 11th, 2015

How Renters Can Build Long-Term Wealth, Too

Home might be where your heart is, but it isn’t necessarily where your wealth grows.With American homeownership in a steady decline, according to the U.S. Census Bureau, many households are not living in the passive asset that is a house.  Homeownership is a long-term play, and for most families, true wealth only materializes when the mortgage is nearly paid off. Renters have an array of alternative strategies for building wealth, but doing so requires an extra dose of self-discipline to save money in the absence of a mortgage that converts an essential cost of living to an asset.

“The costs of ownership are so high in so many areas that it does make sense to rent – if you can invest the difference,” says Rachel Podnos, a financial planner with Wealth Care LLC, based in Merritt Island, Florida.

via How Renters Can Build Long-Term Wealth, Too.

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