Real Estate News TV

Change to Clear Co-operation Reporting.

Ladies and gentlemen, the market is moving, things are happening. And that is our topic. It changes to clear cooperation and the reporting policy as it relates to that here. Seana, she’s got a quick update for you. It’ll be a quick update. So, you know, there’s been discussions on, hey, I see this person and they’re marketing their property, they’re showing the the photos of it and they’re telling the city, but they’re not putting that address on there. And we’ve believed that that was acceptable. Well, it’s not. So the requirement to provide a full address, full address of property when reporting this as a violation has been changed. So now you can report this as a violation. This falls in line with the NA enforcement requirements. They’ve been clear on this the whole time, but I think there was some misunderstandings through networks. So now they coincide together and it is very clear that you can submit a, you know, a complaint so you can submit a complaint. And they do have to research it. And, you know, you can get fined for marketing a property even though it doesn’t have the address. That’s the that’s the thing to know here. So be careful. We’ve had discussions on this in the past and, you know, is what it is. So we want to be careful. Nobody wants to find you know, it can be a $5,000 fine. So that’s pretty, pretty steep. So let’s all be careful with that. That’s it. Thank you, Shana.

The Line: Saudi Arabia Urban Development

The line. It’s a brand new development in Saudi Arabia and it’s part of their urban development plan. And we’re going to kind of discuss it because it’s super interesting and a little bit unique. It is definitely a huge real estate development and it’s modernizing the way that they do things, and maybe this is the way the future. I’m really impressed with some of the things that come out of large, big projects, right? When you have a vision and they go ahead and start to execute on it. Yeah, you know, everything’s not always perfect how it works out, but this one in particular is a really grand plan. So let’s go ahead and share the screen and take a look. So this is the line. It looks like it’s a video game. It does. But this is actually real life. I don’t know. Why that girl flying in real life. Yeah, I don’t know about that. But this is what they’re kind of looking for. I have a picture if we scroll down and think maybe just a little bit more. Right there. All right. So that’s what they’re looking at. So what this is, is a huge line that stretches across the country from one side to the other, trying to get rid of cars. So there’s no cars inside. But it’s a huge structure. And according to the information I have, it’s taller than the Empire State Building. Wow. Oc Yeah, all self contained and it’s a huge line and it’s like 100 and let’s get some stats on this one. How long it is? It’s 170 kilometers long. So it’s like 100 miles, 100 and some or 105 miles long and it goes all the way through the desert and then inside it has the same climate all the time. Okay. It will only be 200 meters wide. Yeah. So it’s narrow and long. It’s all self contained. High speed rail. Yeah. Oh, now you’re getting interested. Well how do they. I’m just curious about their water and. Yeah, no, you can go from one end to the other end. 20 minutes. So everything’s all self contained. You’re within this ecosystem that is the same ideal climate year round. So one of the problems they have there is it’s very warm, right? Yeah. So they’re going to have the ideal climate inside all the time. Yeah, really crazy. It is crazy. Does it seem real? No, but it is. They’re actually starting on it and it just has all these things that they’re trying to build in there. So it’s it’s a vision that’s getting carried out by there, by the crown prince of Saudi Arabia. And what they’re trying to do is get this to be the new way it’s gone. It’s like wanting to live on Mars. It seems like it is like living on Mars. So it’s just a different way of doing things. But they’re trying to reinvent and have a huge urban plan. Is this a plan or is this something they’re like, no going on? No, they’re doing. And they do really ambitious plans. That’s yeah. And they have a couple of other ones that will go over millions. We’ll go over it in the near future, you know, some of the other projects that they have going on. But there are large plans and the idea is to change the carbon footprint, to make life a little bit better, to make properties more dense, but then to have more wide open spaces. So basically everyone lives in a high rise, but then everybody walks, so there’s no commuting. So you can get from one end to the other end in 20 minutes on a high speed rail that goes the whole way. So it’s like perfectly straight. And then imagine that it’s only so wide. So people like live on the side. There’s this middle where it is, but it’s like a whole park through the whole thing. And you live, work, shop, everything right inside. Well, they’ve got to control population and if it’s like. It’s 100 miles long, and taller than the Empire State Building. And so it has nature in it and it’s just within this. So it’s designed to be this like utopia of what’s going on now some of the times that there’s unintended consequences that backlash from stuff like this. Yeah. So they come up with it and they’re like, well, it’s going to be way better for the environment

50 Year Mortgage Considered in UK

50 year mortgage five zero 50 year mortgage considered in the UK. Seana I’ve been a big proponent of finding a way to bring down the cost of home ownership and doing it in a logical way. This is one of the things that I talked about a long time ago as interest rates were going up and as home prices are going up. So what do you think the UK said now? Well, it was proposed and then quickly they did say no, but they thought about it. So let’s talk about why it would potentially be a thing. Yeah, it’s too long. But you know, if you think about now 30 year mortgage, it used to be just unfathomable that you would pay off a 30 year mortgage ever. Right. And now you’re seeing people pay off their 30 year mortgages. Well, that’s just because we’re old. I don’t know if you think about that. All right. So let’s let’s talk our way through it. Okay. The traditional 30 year mortgage has 360 equal payments that you’d pay off over time. Now, what is the average time that a person stays in their home right now? I don’t know. Well, it’s really 3 to 5 years. Yeah. And then how often do they refinance it? Very often. So let’s consider this. Imagine that if you have any homeowners that are going to be buying a brand new home or whatever the their next home is, and they buy it now through the next several years. What we expect is that interest rates are going to be higher than they normally would be. And I would bet I would go ahead and say that they would be able to get a better mortgage rate in 2 to 3 years in the future from when they buy it. So what that means is you’re going to be refinancing it. So they’re going to refinance. They’re like scheduling a refinance because at some point within the 30 years. And I would beg to differ or I would say that if you buy it in the next couple of years, interest rates are on this trajectory going up. And then after they go up, they go down. So then when they go down in interest rates are lower, people refinance. So right now, it seems like anyone who’s buying a house is scheduling a refinance of their home in a couple of years. So if you do that, why are you trying to accomplish to pay it off in 30 years? Because all you’re doing is having an arbitrarily higher payment amount that you need to pay to the bank. Right. So if it was a 50 year mortgage, it wouldn’t substantially matter because what you do in the beginning is you pay pretty much all interest. Right? So why not just lower the interest that you’re paying to them? Because you say, I’m going to pay it off in 50 years instead of 30 years knowing that you’re going to be refinancing it in two years. I mean, it just helps a consumer. It really does. How does that help the lender? How does it help the lender? Well, I’m not really concerned about helping the lender, but what it does is it allows more people to get approved, to have a lower monthly payment and cost of home ownership on a monthly basis. No. Because you qualify that you qualify people based on. But then if you do, say, pay it off early, there’s probably going to be no prepayment penalties. There’s nothing like that anymore. So I just think the 50 year mortgage helps bring down the monthly cost of it. And if you really look at it, homes aren’t going anywhere. Right. I don’t know why here in the US we try to pay it off so quickly. Because people don’t like to have debt. But imagine to have debt. Sure. I totally understand that. Right. But a house is supposed to be here for a long period of time, you know? I mean. That’s the other thing are is the quality of the homes such that, you know, I don’t know, definitely 50 years that your home is still. Yeah, your home is an appreciating asset, meaning it goes up in value over time. So it’s a good asset. There’s no reason that we shouldn’t lengthen the amount of time that you can finance it over. If you consider think about this one in general, you have a depreciating asset in a car, so a car is going to go down. What is the real use

Senate Bill 1588: Fencing Guideline for HOA’s

Senate Bill 1588. There’s quite a few things contained within this to do with H0A, right? But what we’re going to discuss right now is what this has to do with just the fencing component. We’re going to break it down. So Senate Bill 1588 was passed last year. And it’s it was put forth in a way to regulate highways. It was felt that they had a little bit too much control. And thanks to realtors, they pushed this agenda and it got passed. So Senate Bill 1588 in whole is new laws for Texas homeowners. And he was right. So but right now we’re going to discuss just fencing, right. Because there are several items within it and we’ll hit them over the next couple of days. So, you know, a portion of this is about fencing. We’re going to take fencing out of this and talk about only the fencing. So homeowners anywhere in Texas will be allowed to put up a perimeter fence around their property for added security, front sides and or back of property. The whole thing. So before who was would regulate and say, hey, you can only have your fences. You know, they regulated the size, the height. And the materials. You can’t have it all the way up to distance. Of the home. It can only be, you know, it has to be five feet back. I mean, they had all these specifics regarding fencing, so now they all go away. And the only thing that he was will be able to control is the material of it. So this is for added security. This isn’t for privacy, it’s for security only. So, okay, so let’s talk about that because it appears like now the front of the property, right. So is what’s in question for the most part. So that’s that’s really interesting because it specifically states that he was cannot restrict it. So a new fence or gate around the front of the driveway, front yard is allowed. So can you imagine if around the front yard there’s a fence and say you have a front entry, that you have the gate like we have in the back of our house, we gate off the whole back yard, including our driveway, that if people did that in the front, I think. Well, now it becomes more European because over there they have a lot of these like perimeter walls they do. Around their property. You can’t even really see the homes. You can’t see the home at all really. And they have like a ten foot brick wall around their house. I don’t know that I am all on board for for this. I understand the security part of it, but I don’t know, I guess if they regulate it by material that you can have the iron gate. Right. But I was also thinking about the height. How high can this be? Can it be as tall as your home? So I do think that they’re city and county guidelines, right. If you are in a not in an unincorporated area, but if you are in the city limits, then you have city guidelines. And I think the cities enforce the height. But there were some subdivisions that said you can only do a six foot fence, not. In a not an eight foot. It was like so you can almost see in some. That was a weird thing, right? I don’t think people really liked that into the yard. But this isn’t about privacy. This is only addressing security. So you guys just want to and then as it goes on just a little bit more, it talks about things around the pool. And so do you want. To they’re allowed to install a perimeter fence around their pool, as well as security cameras and motion sensors on the property without prior approval. So you don’t need approval for that. It’s just the perimeter around their their property that you do still have to seek approval from your HOA for the material only though that’s the only that’s the only input they can, they can give or restriction that they can give. So you can’t put security cameras outside of your property, which I don’t know. Maybe I don’t know how you would put how you would be allowed to put a camera outside your property. Well, think about this. What if. Behind our house. We have an alley. Yes. And there’s a little grassy area right there and there’s tree

More Housing=” Less” Co2 Emissions

Are you interested in reducing CO2 emissions? If so, according to the article. More houses is the solution to this? Yep. So that is Shana Acquisto. And she’s a luxury real estate broker. But the idea here, according to worldwide. Rc So worldwide Rc What do they do, Shana? So worldwide. Rc is basically they provide relocation services. They’re a mobility company that has mobility partners that help people with their relocation. So so they’re, you know, and this is international. This is global. So they have definitely information on I mean, they have great information because they are relocating people all over the world. So, yeah. So I’m going to highlight one part of the article here is the average US state has a housing deficit of 79,000 homes. So we are 79,000 homes short. In each in an average state. So that’s a housing deficit. The shortage has become a national issue and there’s a lot of repercussions. That report finds that building 3.8 million additional homes would help with housing affordability. So if we build all right, so if we break that down, there are 300. I don’t know how many million people live in the country. Yeah, 300 and some million people. So they’re saying we need another 3.8 million homes. So that means for all the people we’re one they need 1% more housing compared to how many people there are. Right. If there’s 3 million, 300 million people and we need 3.8 million homes. Right. We have a 1% problem. But when you extrapolate it because not 1%, not people don’t live alone in a home. But it’s a big problem. Right. And it’ll generate a bunch of local revenue because you’ll have more taxation and more stuff. So they say that’ll generate 7 billion in additional local revenue. So that’s a lot more tax dollars because they say we need more homes. So what do these people live now? I don’t know about that, but let’s look at this. And it’ll also reduce CO two emissions by 7.7 billion. The equivalent of 7.7 billion because they’ll be less miles driven because of all the homes getting built out. Okay. So they’re saying if you build them closer, I guess, like we talked about. Well, they’re just saying if you build more, then people will drive less because we’ll be closer to whatever it is. And because there’s not homes in those places, people have to drive further. So I don’t know that I follow all the logic. But apparently if you have more lacking information. So I’m just reporting. Now, we talked about a few days ago about the schools. Right. A school district bought a building and housed teachers to keep them closer to work. So I don’t know. Yeah. The idea here is that when you build more homes that they’ll be all over the place and then people will be driving less, probably marginally less throughout time because everything should be closer. So right now, if you’re, for example, commuting from Dennis into Dallas, if you built more homes, that maybe there’d be more jobs in Denison, so to speak, and then you would have to live further out because you wouldn’t be able to afford it. And I feel the same thing repeats itself and they might be missing a variable. Right? And they need then they need the jobs there. And then it becomes more expensive to live there. Then you move further out because that same person that lives in Denison now can’t afford Denison anymore. Right. And it still becomes a problem. So it doesn’t matter where. You saw that in Bozeman. Where do you stop. Yeah, there’s a big issue. It is interesting how the information is disseminated and. Right. And how you can rationalize something like housing and CO two emissions. And how they come together and how you can support a claim. More homes means more people, which means more cars, which I don’t know if that’s cool. So build more homes, it’ll help us. So it is an article from Worldwide. Rc There’s a bunch more other items that are hit on in this article. Aside from that. But often I just want to compare the hot button i