Real Estate News 06/19/2024

Today’s News Synopsis:

The Silicon Valley metro became the first to make it legal for homeowners with backyard accessory dwelling units to sell those ADUs separately from their primary residences as condominiums. This ordinance will take effect on July 18. Will the rest of the nation follow suit with this housing trend?

In The News:

Realtor.com – “San Jose Now Allows Homeowners To Sell Their ADUs—Will the Rest of the Nation Follow?’“ (06-13-24)

“California has one of the most expensive housing markets in the country. This week, the city of San Jose took steps to change that.”

Yahoo Finance –  “Fed Officials Urge Patience on Rate Cuts, Offer Hints on Timing“ (06-19-2024)

“A chorus of Federal Reserve officials on Tuesday emphasized the need for more evidence of cooling inflation before lowering interest rates, with a couple policymakers offering insight into the potential timing of such a move.”

uDirect IRA –  “A GEN Z GUIDE TO SELF-DIRECTED IRA RETIREMENT SAVINGS” (06-19-24)

“Enter the Self-Directed IRA (SDIRA) – a powerful tool that allows you to take control of your retirement savings and invest in a variety of assets. This guide will help you understand why a Self-Directed IRA could be a game-changer for your financial future.”

CNBC – “Mortgage demand flattens even as interest rates hit the lowest level since March” (06-19-2023)

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.94% from 7.02%”