Author: Carrie B. Reyes

Multi-family rentals spark real estate investment

Are you seeing an increase in multi-family housing investment in your market? Yes (71%, 20 Votes) No (29%, 8 Votes) Total Voters: 28 The income property outlook has been dour since the Great Recession – with the exception of multi-family housing.  Jobs are not yet offered by businesses or governments sufficient to fill up unused industrial, office or retail space. Homeownership rates have decreased as foreclosures and shortsales continue to force former homeowners into rental housing. The increased demand for rentals has led to a recent surge in apartment property purchases. U.S. apartment property sales in January 2012 totaled...

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A gift: bonus vehicle depreciation deductions

26 Code of Federal Regulations 601.105 Amended by Revenue Procedure 2012-23 Effective date: immediately The Internal Revenue Service allows a first-year bonus depreciation business deduction of $8,000 for automobiles acquired in 2012. The first-year bonus depreciation deduction cannot be claimed if: the automobile was purchased used; the automobile is not used more than 50 percent for business purposes; or the taxpayer elected out of the depreciation deduction. The depreciation deduction limit for passenger vehicles purchased during 2012 is: $11,160 for the first year (or $3,160 if the first-year bonus depreciation deduction does not apply); $5,100 for the second year;...

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Cash buyers drive down prices

Who are the majority of the all-cash buyers in your market? U.S. investors. (52%, 64 Votes) Foreign investors. (40%, 49 Votes) Buyer-occupants. (9%, 11 Votes) Total Voters: 124 Until now, the arena of cash buyers has been dominated by big investors, both foreign and domestic.  Enter the current homeowner. Despite historically low interest rates, the percentage of all-cash sales increased nationwide from 30.8% of all sales in October 2011 to 34.1% in January 2012. During this period, cash purchases by investors and first-time homebuyers remained flat, meaning the increase in cash purchases resulted from current homeowners. [For more information...

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USDA to help its rural homeowners refinance

Are more of your buyers looking for: a compromise on house size and commute? (57%, 16 Votes) a smaller more expensive house with a shorter commute; (36%, 10 Votes) a larger less expensive house with a longer commute; or (7%, 2 Votes) Total Voters: 28 The United States Department of Agriculture (USDA) has announced a program to help distressed homeowners in rural areas refinance their homes to avoid foreclosure. Unlike recent initiatives by the administration to hasten the housing recovery, USDA officials stress its program does not rely on Congress’ approval, and thus is poised to provide real help...

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Commercial brokerage Grubb & Ellis files for bankruptcy

Grubb & Ellis has filed for Chapter 11 bankruptcy and announced the sale of all its assets to rival Newmark Knight Frank, owned by BGC Partners. Grubb & Ellis was founded in Oakland in 1958 and was once one of the largest independently owned real estate firms in the nation. It has been floundering since the 1990s; the Great Recession stressed the company beyond saving. first tuesday take: Grubb & Ellis has mirrored the rise and fall of the economy over the booms and busts since the 1990s, leveraging heavily to expand during boom times without holding sufficient reserves...

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Zestimates are great conversation starters with sellers and buyers. Zillow has done more for our bottom line than NAR ever has or will. Don’t fight the current of the river, learn to run with it. Disruption is inevitable in any industry that is fragmented or inefficient. Granted, it does feel like armchair experts and platforms are plentiful in real estate these days, but when the tide rolls out we will see the value proposition of the truest professionals in this industry shine once again.

Justin Bonney, on Zillow’s impact on the real estate industry

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