COVERAGE INFORMATION:
California Department of Real Estate (DRE) NEWS CLIPS service coverage:
Monday through Friday (except state holidays) each week includes electronic format articles retrieved from newspapers or news services that report real estate related news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet - and any significant related breaking news.
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Copyright © , California Department of Real Estate
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Monday, 11/04/2024
Top Stories
The Number of Homes for Sale Is Now the Highest Since 2019—Including in Pandemic 'Boomtowns'
JULIE TAYLOR, SFGate
In a bit of welcome news for buyers across the country, active home listings are up in all four regions of the U.S. Leading the charge is the South, with a whopping 34.0% increase, closely followed by the West at 33.6%, the Midwest at 19.8%, and the Northeast, which still saw a healthy uptick of 14.3%.
Election 2024: Homeowner’s Guide to Ballot Measures—Including One State That Could Eliminate Property Taxes Altogether
KEITH GRIFFIN, Realtor.com
The presidential election will be at the top of the ballot on Tuesday—but in a number of states, voters will also have the chance to weigh in on important ballot measures impacting homeowners. Nearly a dozen states will have statewide ballot questions on issues impacting homeowners, most of them related to property taxes.
National News
Typical homebuyer more likely to be older, single and a woman
ALEX TANZI, Orange County Register (Subscription)
The share of first-time home buyers shrunk to 24%, the lowest in data going back to 1981, according to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers. The median age of a first-time buyer also reached a record of 38 — about a decade older than in the 1980s.
More homeowners just started pulling cash out of their properties. Here's why.
DIANA OLICK, CNBC
U.S. homeowners are sitting on a record amount of equity, but higher interest rates over the past two years have made them reluctant to tap into it. That is finally starting to change.
Flexibility remains paramount in office-leasing decisions
ASHLEY FAHEY, The National Observer
Although business owners and managers are beginning to make firmer decisions about their companies' real estate needs, most are still prioritizing flexibility in their lease terms.
California News
Huntington Beach keeps suing California over housing — and losing
ARIANA BINDMAN, SFGate
The housing crisis in the Golden State is dire, and California has repeatedly passed legislation aimed at expanding housing stock and homeownership. Huntington Beach, meanwhile, has made headlines for its efforts to defy those laws.
CA Home Sales Are Falling Due To Insurance Crisis
ANNA SCHIER, Patch
The amount of Realtors who had a transaction fall out of escrow because of failure to obtain affordable insurance jumped from 6.9 percent in 2023 to 13.4 percent in 2024, according to the California Association of Realtors’ 2024 Housing Market Survey.
Prop 5 could lead to billions in affordable housing spending — by raising taxes on homeowners
CHRISTIAN LEONARD, San Francisco Chronicle (Subscription)
In November, California voters could make it easier for local governments to pay for infrastructure and affordable housing — likely through raising property taxes. That proposition could result in billions of dollars in additional spending, a Chronicle analysis indicates.
Industry News
Zillow: No-commingling rule should be repealed, not Clear Cooperation
MARIAN MCPHERSON, Inman (Subscription)
Zillow has become one of the fiercest proponents of Clear Cooperation, with senior leaders from across the company outlining the risks of repealing the rule, including undercutting consumer choice and information access and disadvantaging smaller brokerages who wouldn’t have the muscle to leverage private listing networks.
Real Estate Technology
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Property News
Urban Solutions For Housing Crisis Offer Prime Location, Lower Costs
JENNIFER CASTENSON, Forbes
From office conversions to co-living, housing providers are looking at unique ways to deliver much needed housing supply in urban areas. A variety of new approaches offer solutions to the housing crisis that are both sustainable and affordable.
Tech titan's historic San Francisco estate is for sale
ANNA MARIE ERWERT, SFGate
Set behind a private gate on Russian Hill’s Gold Coast is this historic estate, one of San Francisco’s oldest surviving residential properties. For almost 40 years, it belonged to one of Silicon Valley’s most prominent tech pioneers. Now, 825-845 Francisco St. is for sale, asking $22 million.
In Case You Missed It
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Resources, Webinars, and Other Items of Interest
How to spot scams that offer to lower your interest rate
TERRI MILLER, Federal Trade Commission
Mortgage interest rates may be on the way down, but scammers’ false promises are likely on the way up. If you’re looking to lower your mortgage payment — by refinancing your home or VA loan — learn about your options and how to avoid mortgage relief scams.
