Today’s News Synopsis:

Redfin recently tested to see if the value of home is affected more greatly in areas where people prefer to walk.  Commercial real estate in Silicion Valley is showing no signs of slowing down despite funding for technology being weak.  The inventory of foreclosures declined 4.9%, putting foreclosures at their lowest since the housing boom.

In The News:

Inman – “50 most solar-saturated ZIP codes in California” (8-9-16)

“Solar power is blazing-hot in a growing number of communities across the United States. And nowhere is it hotter than in sunny California. California is home to two out of five customer-owned solar systems in the U.S.”

Bloomberg – “Teenagers Aren’t Interested in Your First Seven Jobs” (8-9-16)

“The summer job, once a rite of passage, isn’t what it used to be.  Many teens and their parents now have other priorities than starting out with the parade of part-time gigs and grunt work that older adults are remembering, fondly or otherwise, on social media with the hashtag #firstsevenjobs.”

Wall Street Journal – “These Hong Kong Mortgage Deals May Be Too Sweet” (8-9-16)

“As Hong Kong home prices climb out of reach for many buyers, developers are rolling out easy money in hopes of winning sales.”

Inman – “Boom or bust?  What’s going on with luxury home prices?” (8-9-16)

“Luxury home prices inched up 0.8 percent in the second quarter of 2016 compared to last year, to an average of $1.66 million, according to a new analysis from Redfin.”

CNBC – “Silicon Valley real estate shows almost no slowdown in tech” (8-9-16)

“Despite a slowdown in tech startup funding and a hammering of certain public tech stocks earlier this year, Bay Area commercial real estate is as hot as ever.”

DS News – “Housing Bust Foreclosures Drove Up SFR for Metro Areas” (8-9-16)

“Metro areas that experienced more foreclosures during the housing bust have seen a larger increase in the share of single-family homes that are rented, according to a recent report from Zillow.”

Housing Wire – “CoreLogic: Foreclosure inventory finally back to housing boom levels” (8-9-16)

“Foreclosure inventory declined yet again in June, but completed foreclosures, while down from last year, increased from last month, according to CoreLogic, property information, analytics and data-enabled solutions provider.”

Wall Street Journal – “How Much Does ‘Walkability’ Affect Home Prices?” (8-9-16)

“Stroll-friendly communities may be the latest housing draw, but in the luxury market, the “walkability premium” is relatively small.”

 

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? at the REI Expo in San Francisco Thursday-Saturday, August 11-13.

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.

Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.

Bruce Norris will be presenting Cashing In On a Boom: Investing in Quadrant 4 at the Back Bay Conference Center on Saturday, October 8.

Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.

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