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Challenge To Seattle Landlord Laws
At issue are two Seattle ordinances that significantly alter the way residential landlords are allowed to select their tenants. On June 11, 2019, the Washington State Supreme Court heard back-to-back arguments in a pair of cases entitled, Yim v. City of Seattle (Yim Iand Yim II). Yim I concerns the City’s “first in time” rule, …
Mom & Pop Investors Buying Houses At Record Rate
Home purchasing activity among investors has reached the highest level in the past two decades. The increase isn’t from the big institutional buyers of recent years, but from more smaller investors entering in. Investors appear to be homing in on the starter home tier for their purchases, which is giving first-time home buyers more competition. …
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LA Landlords May Have To Pay Tax For NOT Renting
The Los Angeles City Council is currently considering whether to develop an “empty home” tax for unoccupied residential units. The potential move comes after it was found that there are about 100,000 housing units currently available in the city, while at the same time there are an estimated 60,000 people who are homeless. “We hope …
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Ohio Bill Would Effectively End Land Contracts
Ohio lawmakers recently have proposed House Bill 103, which would change land contract laws in that state. Patterned after consumer protection laws, House Bill 103 would severely limit the interest rate on land sale contracts and implement safeguards for buyers. The bill would prohibit sellers from having a mortgage on real estate subject to a land sale …
How do these big picture changes impact your business or investments?
How the Modern Consumer is Different
MORTGAGE TRANSACTION CHECKLIST
THE PAPER SOURCE MORTGAGE TRANSACTION CHECKLIST ___ Completed Mortgage Worksheet ___ Signed Purchase Contract ___ Signed Seller’s Representations and Warranties (to be signed by note seller at closing) ___ Copy of Note ___ Copy of Mortgage, Deed of Trust or Contract/Agreement for Deed (If purchasing a junior lien: ___ Copy of senior Note and Security …
Real Estate Note Worksheet
REAL ESTATE NOTE WORKSHEET DATE__________________ PROPERTY ADDRESS _______________________________________________ CITY ________________________________________________ STATE _______ COUNTY _______________________________________ ZIP _______________ NOTE HOLDER’S NAME _____________________________________________ ADDRESS_________________________________________________________ CITY, STATE, ZIP___________________________________________________ PHONE(______)________________ EMAIL_____________________________ What kind of property secures the note (i.e., single family house, duplex, commercial, etc.)? Is this note (circle): Performing Non-performing Reperforming If non-performing, what is the status …
Millennials Have An Average Net Worth of $8,000. That’s far less than previous generations.
Millennials are doing far worse financially than generations before them, with student loans, rising rents and higher health care costs pushing the average net worth below $8,000, a new study shows. The findings, researchers say, “debunk many conventional wisdoms about the new-age consumer.” Millennials, they contend, are putting off home-buying and marriage not because they …
REITs Take Big Step Into Housing Market
From the May 29, 2019 New York Times, page B-1, contributed by DeWitt Ingram:
