Category Archives: Real Estate Law

Topics that are of interest to the real estate community, with an emphasis on commercial, industrial, or multi-dwelling units.

Many Homeowners Pay Higher Rates After Refinancing Their Homes to Tap Home Equity

Wall Street Journal writer Ben Eisen reported recently that, “Many U.S. homeowners who need cash are taking it out of their properties. The trade-off: higher interest rates. “Over the past two years, a big chunk of homeowners took on higher interest rates when they refinanced to tap their home equity. These cash-out refinancings, as they… Continue Reading

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U.S. Home Builders Benefited From Low Interest Rates This Year; Housing Starts Climbed and New-Home Sales Surged

Earlier this week, Wall Street Journal writer Will Parker reported that, “U.S. home builders benefited from low interest rates this year as housing starts climbed to levels not seen in a decade and new-home sales surged after a disappointing 2018. “Builder confidence, as measured by the National Association of Home Builders, is now the highest… Continue Reading

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Slower Home Sales Due in Part to People Staying Longer in Their Residences

Wall Street Journal writer Laura Kusisto reported earlier this month that, “U.S. homeowners are staying in their residences much longer than before, keeping a glut of housing inventory off the market, which helps explain why home sales have been sputtering. “Homeowners nationwide are remaining in their homes typically 13 years, five years longer than they… Continue Reading

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Positive Indicators from the Housing Market

Wall Street Journal writer Laura Kusisto reported last week that, “Three indicators released on [Oct. 29th] show the housing market is gaining modest strength in the latter half of the year thanks to lower mortgage rates. “Average national home prices grew 3.2% in the year ending in August, according to data released Tuesday by the… Continue Reading

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Home Sales On the Rise

Wall Street Journal writers Ben Eisen and Laura Kusisto reported this week that, “The mortgage market turned red hot over the summer, posting its biggest three months since the financial crisis. “Lenders extended $700 billion of home loans in the July-to-September quarter, the most in 14 years, according to industry research group Inside Mortgage Finance…. Continue Reading

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Chicago Lawmakers Pushing For Tighter Regulation for Backyard Chickens

Alexia Elejalde-Ruiz reported on the front page of today’s Chicago Tribune that, “An ordinance introduced last month would ban roosters from residential areas in Chicago and allow a household to keep no more than six hens and two livestock animals, defined as four-legged farm creatures such as pigs, sheep and goats. “A $25 annual livestock… Continue Reading

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FinTech Startup Enticing Investors to Invest in Small Slices of Office Towers

Wall Street Journal writer Justin Baer reported late last month that, “A financial-technology startup is taking on the difficult task of enticing mom-and-pop investors to invest in small slices of office towers and other commercial buildings. “Lex Markets aims to serve as the intermediary between investors and real-estate firms looking to sell stakes in individual… Continue Reading

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Mortgage Rates Rates About 1.25 Percentage Points Lower Than This Time Last Year

Diana Olick reported yesterday at CNBC Online that, “Fall homebuyers are getting a bonus. The sell-off in the stock market is causing an unexpected turnaround in mortgage rates. “Mortgage rates fell throughout much of the summer but then made a sharp jump higher in September. Now rates are headed back down, along with the Dow… Continue Reading

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New Home Sales Increased in August

Wall Street Journal writers Likhitha Butchireddygari and Harriet Torry reported today that, “The pace at which Americans bought new homes increased in August, a sign that low mortgage rates may be encouraging home building. “Purchases of newly built single-family homes rose 7.1% to a seasonally adjusted annual rate of 713,000 in August from the prior… Continue Reading

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Real Estate: The Idea of Rent Control is Gaining Steam

Conor Dougherty and Luis Ferré-Sadurní reported this week at The New York Times Online that, “California’s escalating housing costs have yielded epic commutes and a rising tide of homelessness. Now they are close to producing a political milestone: a vast expansion of tenant-protection laws that would cap rents statewide. “On Tuesday, the State Senate voted… Continue Reading

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