LA Family Housing is One of Dateline’s “Angels of Skid Row”

Of the half a million people across America homeless at any given time, a quarter reside in California, with 55,000 in Los Angeles alone. Los Angeles’ Skid Row, 52 square blocks of blight, has the highest concentration of homeless in America.

Skid Row came about under unofficial policy of containment, but now thousands of homeless are spilling out into other areas in LA creating an even greater crisis.

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Who is Freddie Mac Today?

Often in the industry, when we think of the forty-eight-year-old Government Sponsored Entity The Federal Home Loan Mortgage Corporation, otherwise known as Freddie Mac, we think: “I’d love to be an REO broker with them” or “I’d love to be in a vendor relationship with them.” However, as we discovered in our “Who is Freddie Mac Today?” presentation, the GSE is way more than meets the eye, staying on the young side of forty-eight with an eye toward innovation and staying current.   Continue reading

2018 NAWRB Conference Live Updates: Investing In Opportunity Act

While implementing the Investing in Opportunity Act can be complicated, all of the speakers on our panel were enthusiastic about the transforming change this tax incentive could bring to communities most in need. 

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Settling Up in Cincinnati, a Top City for Single Women Homebuyers

June is National Homeownership Month. This article is part of an ongoing series focusing on different aspects of women’s homeownership.

 

Single Women Outpace Men in Homeownership

 

In our 2018 Women in the Housing and Ecosystem Report, we found women have outpaced single men in homeownership consistently since 1986. This trend has most likely sustained because the reasons women seek homeownership are powerful, both from an economic and an emotional standpoint.

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Power-up Your Policymaking

How to turn your passion into action from boosting your local engagement or running for office

“This woman’s place is in the House-the House of Representatives”-Bella Abzug

It’s no new news that although we comprise a little over half the human population, women are severely underrepresented in both politics and business. Although great strides have been made and new fissures and cracks appear every day in that storied glass ceiling, for the busy everyday woman, moving from awareness to engagement can seem daunting. Continue reading

Rising Lumber Prices, Falling Homebuilder Sentiment in June

The National Association of Home Builders (NAHB)’s newly released NAHB/Wells Fargo Housing Market Index (HMI) for June 2018 shows a 2-point drop to 68 in homebuilder sentiment due to rising lumber prices—one of the factors affecting affordability of single-family housing construction.

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Accessory Dwelling Units (ADU)s Could Help Women Meet Housing Goals

California has the highest poverty rate in the nation and we have an extreme shortage of affordable hosing. Single mothers are at a disadvantage of chosing to work an additional job to be able to afford housing for her family and still provide adequate supervision.

ADUs are small dwelling units on an existing residential property. Recent state policies, passed in 2016, have made it easier for homeowners in L.A. County to construct these additional dwelling units whether they are detached from the home or attached with a separate entrance, or even a garage conversion.

The advantages to having an ADU on your property are numerous: whether for extra rental income, a home office, or as a guest house. If done properly (up to code, enhancing rather than detracting from the aesthetic of your property), ADUs can add value to not only your residence but your life: turning unused space into a value generator.

However, the impact of building an ADU can have for an existing woman homeowner or single mother renter could be even more profound.

For a Home-Based Business

As highlighted in our 2018 Women in the Housing Ecosystem Report, Volume I that focuses on The State of Women’s Homeownership, aside from viewing a home as a secure sanctuary, women seek homeownership as a stable location to build a home-based business. An ADU provides extra space to grow that business, a safe-space to meet clients without having them directly enter into your living space and a location close enough to be super-convenient but separate enough to provide a distraction-free workspace.

An Additional Revenue Stream

There are more working mothers heading up families with children, or single-working mothers as well as women taking care of aging parents. An ADU can provide an additional revenue stream, allowing a woman to better care for children and aging adults without relying on a second income. On a side note, the homeowner could play it forward to help provide a more homebased living arrangement to single mothers. Who knows, maybe their kids would be a perfect playdate or their mother create some mommy time! There is social impact that also offsets financial impact.

Converting a Property to Rent-Controlled Status  

The Los Angeles County Board of Supervisors just approved their own new rules and several cities are in the process or already have their own specifc rules for dwellings. Adding an ADU might trigger rent stabilization because it is no longer considered a single-family residence, even if you are living in the same residence.

Before building an ADU, make sure to check any guidelines or restrictions put out by your city and county. Know your options, do your homework and this includes not only detached and attached additions, but pre-fab units as well.

Teresa Palacios Smith Joins NAWRB Diversity & Inclusion Leadership Council

Women in the Housing and Real Estate Ecosystem (NAWRB) announces the addition of Teresa Palacios Smith, Vice President of Diversity and Inclusion, HSF Affiliates LLC, to its Diversity and Inclusion Leadership Council (NDILC). The Council, founded in 2015, helps raise the number of C-suite women, increase women’s employment at all levels and advance women’s economic growth across the housing and real estate ecosystem.

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FHFA House Price Index Increases 0.6 Percent in February

In a recent news release, the Federal Housing Finance Agency (FHFA) revealed that United States house prices in February rose 0.6 percent from the previous month, according to its seasonally adjusted monthly House Price Index (HPI). The previous house price increase in January, at 0.8 percent, has been adjusted to reflect this new finding.

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