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Housing Hurdles for Older Homeowners 

Appraisal Buzz

Creative Housing Solutions: As demonstrated by Californias recent law relaxing local limitations, remove obstacles to the development of Accessory Dwelling Units (ADUs) to give older folks more flexible housing options. High property taxes are another factor at work, as 55% of respondents cite them as a cause for moving.

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Seattle documents renovation programs, tax relief for aging in place

Housing Wire

And a state property tax relief program recently raised its maximum income threshold to allow more Puget Sound-area seniors to qualify. Overall Seattle-area construction costs have stabilized in the last year, but remain 40% higher than pre-pandemic,” the Times noted.

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Opinion: More financing options for ADUs are needed

Housing Wire

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Importantly, homeowners can also include 50% of their estimated rental income when applying for an FHA renovation loan to construct an ADU, which helps with DTI constraints.

Finance 501
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Severe storm fallout could destabilize the intersection of mortgage and insurance

Housing Wire

“So, it’s a real challenge now that payment shock is not coming from the mortgage or from the interest rate moving — because so many folks have a fixed-rate mortgage — but the increase in payment is coming outside of mortgages, from insurance and in property taxes.” That’s a challenge,” Larsen said.

Insurance 459
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The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Miller Samuel

This proposed NYC "pied-a-terre" tax law has a name that infers it concerns " pied-a-terres " when in fact that property type is but one part of the property types that are impacted. The market value of these properties will be based on a "comparable sale-based valuation method." click to expand].

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Opinion: How did homeowners get into home equity prison?

Housing Wire

While the person sits back and watches the value of their house climb to levels that have never been seen before, they are still struggling to get back to their pre-pandemic income level while also having to pay more for homeowner’s insurance and property taxes, not to mention the fact that all of their other bills have increased as well.

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Does Adding an In-Law Suite Pay Off?

Empire Appraisal Group

Does Adding an In-Law Suite Pay Off? Source: Does Adding an In-Law Suite Pay Off? NEW YORK – Accessory dwelling units are known by many names: in-law suites, guest houses, backyard cottages, or basement or garage conversions, among others. The post Does Adding an In-Law Suite Pay Off? Florida Realtors. By Liz Weston.

Law 78