Individuals in California and other states may find themselves in a situation where they have to buy and sell a home at the same time. Choosing to sell a home first may be the better option. However, it may require asking for a rent-back clause in the purchase contract. This allows an individual to remain in the home and pay rent to the new owner until he or she buys a new house.
Conducting multiple real estate transactions at once
Reasons why home sales have become sluggish
Californians may be interested to learn that home sales were down 4.1 percent in September 2018 compared to September 2017. This decrease arrived in spite of the fact that price appreciation has slowed and Millennial buyers are in need of larger living spaces. However, it should be noted that Hurricane Florence played a role in slower sales in the South. Furthermore, interest rates on home loans are going up. While they are now 4.72 percent, they were 3.83 percent at the same point in 2017.
The rise of proptech
Investors or business owners who are looking for commercial real estate should be aware that the CRE industry is poised to undergo a transformation due to proptech. In 2017, $12.6 billion worth of venture capital investments were made in proptech, which is real estate technology. That amount was three times what was invested in 2015. There are several proptech companies that are highly funded and developing applications that could change building management and occupancy experiences.
Homebuyers and unfamiliar neighborhoods
Purchasing a home is one of the most significant investments a California resident can make. That's why it is important that they do their due diligence when selecting a property. If the potential future home is in an unfamiliar neighborhood, there are some steps they can take to make sure that they are making the right choice.
What is a "drive-by" ADA lawsuit?
California readers would probably not deny that people with disabilities should have the same opportunities as everyone else. Businesses should provide them access to buildings, bathrooms and other areas that would otherwise be off limits to them due to their disabilities.
Tips for younger home buyers
It may be hard to imagine buying a home in California or anywhere else before turning 30. However, there are many tactics a person can employ to accomplish this goal. Ideally, a home buyer will aim to make a 20 percent down payment to avoid paying mortgage insurance. That would mean paying $50,000 upfront to purchase a $250,000 home, but the buyer doesn't need to come up with that cash on his or her own.
