Zillow: $40 Billion to Flood Into Housing Market, Even as Homeowner Incentives Limited


Americans’ earnings, generally, have gotten a lift on payday as a result of the Tax Cuts and Jobs Act. With cuts come more discretionary spending—and, although there are changes to homeowner incentives, almost $40 billion of it is going into the housing market, according to a new report by Zillow.

“Despite new limits to two longstanding tax benefits for homeowners, the typical American taxpayer saw their tax burden fall in 2018 as a result of tax reform,” says Aaron Terrazas, senior economist at Zillow. “Some of these tax savings will still find their way into the American housing market, even though they were not explicitly targeted there, as renters and homeowners decide to use their tax savings to rent or buy a bigger home, or renovate their existing home.”

Approximately $13.2 billion is estimated to flood into market as owners and renters trade up, while $24.7 billion is expected to be invested in remodeling projects, the report reveals. With an average $1,610 saved per taxpayer (according to the nonpartisan Tax Policy Center), homeowners are projected to spend 15 cents on the dollar to renovate; renters, 11 cents to trade up.

The disparity between dollars for remodeling and trading up is in line with a growing trend: homeowners are forgoing moving up and investing in projects instead of purchasing. While the existing housing stock is in need of updates, when homeowners stay put, inventory shrinks—and currently, inventory is at its lowest on record.

According to the report, compared to higher-income households, Americans in the bottom income tier—who average $60 in savings from the Tax Cuts and Jobs Act—are allocating more of those savings to trade up.

“Lower-income households will spend more of their tax cut on buying or renting a bigger home, adding demand to an already rapidly appreciating housing market,” Terrazas says.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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Appreciation Linked to Population Rise


Appreciation and demand go hand in hand, and for investors, both are key to profit, according to a new report.

Assessing the association between growing interest and mounting prices, analysts at HouseCanary found that appreciation is higher where inbound migration numbers are swelling. Boise, Idaho, for example, has had a high influx of new residents, and a corresponding increase in prices across all property types—from 2010 to 2017, Boise greeted more than 57,600 new residents, while apartments appreciated 7.7 percent year-over-year, condo prices rose 7 percent year-over-year, and prices on single-family steepened 5.7 percent year-over-year.

In addition to Boise, HouseCanary found the migration pattern-price relationship in the Deltona-Daytona Beach-Ormond Beach and Orlando-Kissimmee-Sanford, Fla., metros (a combined 404,000-plus new residents); the Las Vegas-Henderson-Paradise, Nev., metro (approximately 181,900 new residents); the Sacramento-Roseville-Arden-Arcade, Calif., metro (approx. 99,200 new residents); the Salt Lake City, Utah, metro (approx. 71,200 new residents); and the Seattle-Tacoma-Bellevue, Wash., metro (310,560 new residents).



Beyond the correlation between demand and prices, apartments and condos, generally, have faster-growing prices than in the single-family segment, according to the report.

For more information, please visit www.housecanary.com.

DeVita_Suzanne_60x60Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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$38,000 :: 7562 CHALMERS AVE, Warren MI, 48091-3003

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2 beds, 1 bath
Home size: 672 sq ft
Lot Size: 4,356 sq ft
Added: 03/13/18, Last Updated: 05/20/18
Property Type: Single Family
MLS Number: 21423751
Community: Warren (50023)
Status: Sold

Make an offer: This house has a covered front porch to relax on in the evenings and a back patio with an awning over it to grill out on even in the rain. The garage is a 24′ X 26′ mechanics garage built in about 1996 with two 220 lines. The ceiling of the garage is insulated and there’s a pull down for storage up above. The interior of the house needs work, but there’s plenty of room for an eating table in the kitchen, stack-able washer/dryer in the laundry area, and 3 ceiling fans. Roof is only 3 years old. Sellers are extremely motivated. To get it started all you need to do is make an offer.

Listed with House N Home Realty, LLC

Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!

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$170,000 :: 28231 LIBERTY DR, Warren MI, 48092-2588

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3 beds, 2 baths
Home size: 1,375 sq ft
Lot Size: 8,276 sq ft
Added: 03/09/18, Last Updated: 05/19/18
Property Type: Single Family
MLS Number: 21421658
Community: Warren (50023)
Tract: RYAN MEADOWS # 02
Status: Sold

** Up-Dated 3 Bedroom Brick Ranch W/Attached Garage in NORTH WARREN!!** All Brick Ranch is in PRISTINE CONDITION!! ** OPEN FLOOR PLAN** This Home is in MOVE IN CONDITION you Don’t Even Have To CLEAN!!! The Updates include the Furnace, A/C, EAC, Humidifier. Energy Efficient Vinyl Windows W/ Marble Sills, Main bath Has New Vanity & Tile with a Large Linen Closet, 1/2-Bath has New Vanity, Sink, Toilet, and Light fixtures.Spacious Kitchen with Ample Counter Space, Room for a Table and it has a Breakfast Bar!! AND *Tiffany Style Light Fixtures* Beautiful Hard Wood Floors in Living Room, Bedrooms & Hall with a Ceramic Tile Foyer!! Maple Trim & Doors give this Mid-Century Home a Warm and Finished Look. The Covered Front Porch perfect to Enjoy the Quiet North Warren Neighborhood and your Professionally Landscaped Front Yard or sit your Patio in the Privacy of your Large Back Yard that is Fully Fenced. The Large Shed will keep your Attached Garage Available For Parking Your Cars! Call Me Today

Listed with Esoteric Realty LLC

Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!

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Amazon Experience Centers Look to Transform Smart-Home Shopping


Amazon is making moves yet again. As a way to market its smart-home business segment without having to invest in conventional store locations, the online marketplace giant has partnered with Lennar Corporation to provide connectivity demos of Alexa-enabled products—everything from video doorbells and smart shades to lighting and scheduled deliveries—within the homebuilder’s model homes, calling these showrooms Amazon Experience Centers.

“Amazon’s ability to bring a home to life with Alexa smart-home experiences, entertainment and services—coupled with their obsession with customer experience—is a natural extension of our Everything’s Included approach to home-building,” said David Kaiserman, president of Lennar Ventures, in statement. “We picked Amazon because of our shared commitment to customers, their Amazon experts across the country, and their ability to connect customers with thousands of service providers through Amazon Home Services.”

These Centers are already open to the public in certain Lennar communities, including in Atlanta, Dallas, Los Angeles, Miami, Orlando, San Francisco, Seattle and Washington, D.C. Within these model homes, prospective buyers can test-control thermostats, lights, shades, locks, televisions and more using Amazon’s trademark smart speaker, Echo, and Alexa AI.

“We wanted customers to experience a real home environment that showcases the convenience of the Alexa smart-home experience, great entertainment available with Prime and Home Services,” said Nish Lathia, general manager of Amazon Services, in a statement. “We are excited to extend our relationship with Lennar with the launch of Amazon Experience Centers. As one of the nation’s largest homebuilders, Lennar offers the potential to enable this experience within easy driving distance of millions of customers.”

Along with its smart speaker offerings, Amazon is also promoting Prime and Home Services, creating an intelligent home environment that is being touted as a money- and time-saver. For example, with Amazon’s Dash series, homeowners would be able to simply press a button to reorder any essentials, such as household items, favorite snack foods, pet supplies and more.

No doubt Lennar will see increased traffic to its model homes because of the partnership, but is this just Amazon’s next step in a larger campaign to fully entrench itself in the real estate industry? Its recent progressions pointing to—yes—talks of a robot give a glimpse into Amazon’s planned future for AI-run households.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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$125,000 :: 24725 COTTAGE LANE, WARREN MI, 48089

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3 beds, 1 bath
Home size: 990 sq ft
Lot Size: 7,405 sq ft
Added: 04/06/18, Last Updated: 05/17/18
Property Type: Single Family
MLS Number: 58031344018
Community: Warren
Status: Sold

Charming Well maintained 3Bdrm Brick Ranch 2.5 car garage with tons of quality upgrades. Hdwd flrs through out, ceramic tile & Oak Cabs in kitchen, stainless steel appliances stay. Fully finished bsmt with bar. Roof only 13yrs & has a 30yr transferable warranty. Multiple ceiling fans, Custom doors, Brand new neutral carpet in 2 bdrms & bsmt. Updated bathroom with ceramic tile. Cellular shades in many rooms & Room darkening in 2 bdrms. Leaded glass Entry Door. Recessed lighting. Glass block windows. Furnace w/humidifier under DTE program & serviced regularly. Blown in insulation in attic & walls. Washer & Dryer stay. Full bath & wet bar in basement. Privacy fence, Beautiful neighborhood close to Eways. Security system & much more! Buyer to verify all information including taxes & sqft.

Listed with Keller Williams Realty Great Lakes

Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!

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$186,000 :: 30332 WOODHOUSE DR, Warren MI, 48092-1827

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3 beds, 2 baths
Home size: 1,468 sq ft
Lot Size: 8,276 sq ft
Added: 04/05/18, Last Updated: 05/16/18
Property Type: Single Family
MLS Number: 21431007
Community: Warren (50023)
Status: Sold

Looking for a beautiful, move in ready ranch? You’ve found it! This spacious home is located close to shops, restaurants, and is walking distance to Pearl Lean Elementary and Warren Mott H.S. It features a newer furnace and A/C unit as well as a roof and garage door. Perfect for entertaining, you have a finished basement, open, eat-in kitchen, and great room that leads to your backyard. The attached garage is perfect for those cold Michigan winters, now need to clean off the snow! Make an appointment to see your new home today. Awesome vintage shuffleboard is included in the sale.

Listed with Keller Williams Realty-Great Lakes

Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!

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Voice Activated: Do You Talk to Your Tech?

How many of us are talking to our tech on a regular basis?

Ken Olmstead at the Pew Research Center recently highlighted the fact that nearly half of U.S. adults (46 percent) say they use voice-controlled assistants and applications to interact with smartphones and other devices.

Just over half (55 percent) say “a major reason” they use voice assistants is to permit hands-free interaction with devices.

The Pew study affirmed that voice assistant technology is being widely used to remotely control connected systems, including “smart home” lighting and heating devices. In fact, more than a quarter (26 percent) surveyed use voice assistants to connect remotely to those apps and devices.

So where are the newest voice control technologies being integrated in 2018?

Kohler, the global designer of kitchen and bath products, has introduced Konnect. This new platform allows consumers to conveniently personalize their experience with a growing number of the company’s products through voice control.

Claiming to have delivered the first voice-activated product line for the kitchen and bath, Konnect offers support through Amazon Alexa, Google Assistant and Apple HomeKit.

Say the word and adjust the company’s lighted mirror, order up a soak with their voice-activated bathtub faucet, pick your spritz with their voice-command shower systems—and, yes, even apply a number of controls to the toilet!

Kristen Hicks at SeniorAdvisor.com says voice-activation improvements like these are helping countless homeowners age in place, by turning lights on and off, keeping grocery and to-do lists, reminding folks to take meds, changing interior temperature settings, using voice-activated technology to be sure doors are locked, and, most importantly, calling for help in an emergency. Hicks says while many home alert systems require reaching a phone or a button, a voice command can be issued without having to move.

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Common Home-Buying Mistakes People Make at Every Age

(TNS)—No matter the age or life stage, everyone makes mistakes when it comes to home-buying.

Whether it’s picking the wrong location or buying more house than you can afford, the mistakes are often universal, says Ilyce Glink, author of “100 Questions Every First-Time Home Buyer Should Ask.”

“When you’re in your 20s, your life isn’t the same as when you’re retired, and yet you’re both going to make timing mistakes,” Glink says. “You may make location mistakes. You may not think about what you need for every stage of your life, so you buy the wrong size home or make a bad money decision.”

Even so, certain age groups are more susceptible to particular missteps than others. Here are common mistakes homeowners make at each age, and a few ways to avoid them.

20s: Getting the Wrong Type of Mortgage
People in their 20s are just starting their careers and usually have less money saved than older homebuyers. For these folks, paying less for a mortgage is not just a priority, but a necessity.

This can be a bad thing if buyers get into an adjustable-rate mortgage (ARM) thinking they will earn more money down the road, says Michael Corbett, host of Extra’s “Mansions and Millionaires” and author of “Find It, Fix It, Flip It.”

“Younger buyers might get an adjustable-rate mortgage because the rate is really low; it’s like a teaser rate, and they think, ‘I’m going to get it because I’m improving in my job situation or I’ll pay off my student loan’—but if that doesn’t happen then, when interest rates go up in five to seven years, they’re going to see their mortgage rates double or even triple,” Corbett says.

If the rates on ARMs increase dramatically, there’s a chance the borrower will no longer be able to afford their mortgage payment, which could put the house in jeopardy. Before leaping into an ARM with just a dream of a house and a hope for a bigger paycheck, consider other cost-saving alternatives.

Along with popular programs like FHA loans and VA loans, there are other lesser-known initiatives geared to homebuyers on a fixed income. The HUD-sponsored Good Neighbor Next Door program, for example, offers home-buying assistance for law enforcement officers, firefighters, emergency medical technicians and pre-kindergarten through 12th grade teachers.

Along with federal money, there are also state-sponsored grants for first-time homebuyers, which you can typically find on your state’s website.

30s: Not Thinking About the Future
Homebuyers in their 30s blunder by not considering a future family when they’re standing in the middle of downtown condo with gorgeous views and access to a rooftop pool. While snagging the ultimate bachelor or bachelorette pad might seem alluring, it can also cost you money down the road, Corbett says.

“What happens is they end up having to sell—maybe not at an appropriate time—the bachelor pad and get into another house,” says Corbett. “Now they’re doing it under duress instead of planning ahead the first time, so there’s a lot of money lost there.”

If you plan on having a family, it’s important to consider that when you’re home shopping, even if you’re currently single. Glink says to ask yourself these questions before buying a home:

  • Who do I imagine living with in the future?
  • Where do I imagine living?
  • How do I imagine living?

Those answers should be an integral part of what you look for in a home. For example, if you think you might want kids or even a dog, you’ll probably want to choose a home with a backyard versus one near a great nightlife.

40s-50s: Overestimating Your Budget
In your 40s and 50s, you tend to have more money, which can lead to overestimating your budget and buying a house you can’t afford. One way to avoid this is to figure out your lifestyle comfort level, Glink says.

“Just because you can afford a $500,000 home doesn’t mean you should buy one,” says Glink. “If you’re married and both you and your spouse are working, figure out whether or not you can afford the mortgage payment if one of you gets laid off.”

Figuring out your budget is a critical step for buyers of all ages. Even experienced homebuyers can make the mistake of spending at their limit, which can mean making sacrifices that they weren’t prepared to make. Use Bankrate’s home affordability calculator to determine how much you should spend.

The takeaway for buyers in their 40s and 50s is to leave room in the budget for things they aren’t willing to give up—for example, private school for the kids.

60s and up: Falling in Love With That Vacation Home
Many homeowners in their 60s are retired or getting ready to retire. Among the many decisions retirees make is where to live. While some choose to stay where they are, many plan on moving to warmer climates, or even another country.

A costly mistake retirees make, Glink says, is going on vacation, falling in love with the place and moving immediately. Relocating and buying a home is an expensive process, so retirees should be sure they familiarize themselves with a new place before buying.

“Too many retirees make the mistake of going on vacation, and they think, ‘Oh my god, this is great,’ and they go home immediately and they sell their house,” says Glink. “They get there and they hate it. They didn’t spend enough time there.”

Before buying a new house in your vacation paradise, be sure to visit the area in every climate. For example, Florida is great in the winter, but many people might not be comfortable in the humid summer months. The same goes for Northern areas—what’s blissful in one season can be awful in another.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

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$13,000 :: 21747 MAC ARTHUR BLVD, Warren MI, 48089-

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0 beds, 2 baths
Home size: 1,508 sq ft
Lot Size: 0 sq ft
Added: 02/10/18, Last Updated: 05/13/18
Property Type: Multi Family
MLS Number: 21412911
Community: Warren (50023)
The price of this listing was last reduced on 2/22/2018 by 20%
Status: Sold

A FANTASTIC OPPORTUNITY to own a MULTI-UNIT property in the city of WARREN under $20k!! Whether you’re an inspiring or experienced investor, this is a GREAT PROPERTY to BUY, FIX-UP, then RENT/FLIP! Just check how much ready-to-move-in MULTI-UNIT properties are selling/renting for in WARREN!! Property will need to be completely rehabbed due to a fire incident, and the damages include mostly smoke damages, as opposed to “fire damages”, according to the result of a professional inspection. Because the property endured mostly smoke damages, rehabbing will include mostly cosmetic work and very MINOR structural work. The only found structural problem is confined to one bedroom, which can be corrected by a few new floor joists! The roof is in good condition overall, except for a small, approximately 2 by 2 portion that was broken into by the firefighters. Each unit comes with its own meters! Not bad for only $27k huh! Well don’t miss out on this opportunity! Send your offer TODAY!

Listed with Hale Realty

Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!

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