Houses.com Finds Increased Website Interest in Medical Cannabis Lenient States


Miami, Florida (PRWEB) December 19, 2012

As the dust settles in the weeks following the Presidential Election, Americans are returning to life as usual. Gone are the political ads, debates and polls and most citizens are thankful to that end. However, the leading real estate website, Houses.com is detecting a small yet increasing trend under current in the ocean of politics. There is an amplified interest in the states where medical marijuana can be used without criminal consequences.

The voters in the states of Washington and Colorado have gone a step further and given their blessing to the recreational use of marijuana. Many other states have passed similar legislation that downgrade possession of the drug to the equivalent of running a stop sign. Each state will have different ordinances as to how much you can carry without the fear of facing a judge but, that aside there is a growing trend to legalize the use of medical marijuana in the United States.

The infographic illustrates (in green) the states that have legalized or passed laws allowing either the medical or recreational use of the plant. One eye opener was the increased number of homes for sale searches in New York and Maryland on Houses.com. Several states saw increases in the single digits; the searches in the tiny state of Maryland swelled to a full 14% and a whopping 22% in New York.

There are no hard and fast demographics for these online queries but when most people look for a home they generally have a stable income and the financial means to make the move. Widely distributed studies would lead most to believe it is the teenagers and the early 20s network that use marijuana. For more information, see the recent study by the American Medical Association: http://www.druglibrary.org/Schaffer/hemp/medical/block.htm. Nevertheless, those age groups by and large, don’t have access to the cash reserves needed to make major purchases like a home.

Although the increased traffic is by no means immense yet, the percentages of increases were enough to catch more than a few eyes. Founder and CEO of Houses.com, Richard Swerdlow commented on the recent findings, “The U.S. is traditionally conservative and cautious about the use of marijuana. Looking at the traffic by state breakdown paired with recent legislation on the drug suggests that citizens may want to see that changed.”

The inforgraphic clearly illustrates that the plain states, the Southeastern Seaboard and Southern states, are more conservative in their approaches to marijuana. Many citizens who are in favor of these relaxed measures are predicting it is just a matter of time before all states have some kind of legal verbiage for marijuana and its use.

For more in depth information on this subject read the full article here: http://www.houses.com/Learn/HousingNews/Marijuana-Tolerant-States-Attract-Homebuyers-to-Houses.com. Realtors in these 20+ states may want to keep their eyes on the marijuana legislation in their vicinity. When the topic is brought up in conversation; being prepared to answer client’s questions with an informed and educated voice may be an advantage.

About eReal Estate Holdings

eReal Estate Holdings LLC owns and / or operates the category-defining portals Condo.com, Houses.com, Property.com and Location.com. These real estate portals are the world’s largest online marketplaces for real estate with more than 30 million properties for sale, rent and vacation in the United States and 70-plus countries around the world. The sites receive more than 1.5 million visitors per month, and cost-effectively deliver exposure and qualified leads to builders, real estate professionals and homeowners. In addition to property for sale and properties for rent, site visitors have access to a wide variety of real estate-related products and services, including mortgages, credit repair, home improvement, moving and more. Location.com was launched in beta in November 2012 in order to capitalize on the rapid growth of location-based advertising and search.

The privately held eReal Estate Holdings LLC is headquartered in Miami, Florida. For more information, please visit http://www.erealestateholdings.com.







More Real Estate News Florida Press Releases

Metrosetter.com Predicts Increased Regulation of the Short-Term Rental Industry


Los Angeles, CA (PRWEB) November 07, 2012

The offline worlds assimilation of Internet technology is effecting changes in nearly every industry. Universal accessibility of the Internet and the increasing amount of user-friendly, intuitive Internet technologies that allow individuals to instantly market their products to consumers around the world has created new business opportunities that were previously untenable and/or too cumbersome to undertake. This is especially relevant in the industry of real estate and, specifically, short-term rentals. Internet sites such as Airbnb.com and HomeAway.com have created a vibrant and growing ecosystem for the short-term rental industry that, before 2008, consisted only of mom-and-pop regional players, local travel agencies, and real estate offices. The aggregation of thousands of properties on these searchable sites has opened the doors wide open to both travelers and property owners eager to connect. For an idea of just how rapidly demand for short-term rentals has grown, consider that (according to an Airbnb press release), in 2008, a night of travel was booked on Airbnb once per day, and now, in 2012, a night is booked every two seconds. However, once the new business activity begins to threaten traditional players in the established space, it is sure to be regulated.

The hotel industry is one such field that is now in conflict with the rapid growth of short-term rentals. Property and hotel owners are faced with traveler adoption of Airbnb and HomeAway inventory and are thus looking to the government for a response. The regulation of rentals of less than 30 days, commonly referred to as vacation rentals, has been, until recently, largely uncharted waters. Local governments are putting resources to work and regulating the industry in differing ways, which offers a glimpse of what may become a trend towards more regulation and taxation in other cities across the country.

City government attempts to formulate effective short-term regulation are currently in play in New York City, Austin, San Francisco, Seal Beach, CA, and Columbia Falls, MO. In New York City, short-term rentals, labeled illegal hotels, have been officially illegalized since the spring of 2011. In San Francisco, an old law (enacted in 1981) prohibiting rentals of less than 30 days in apartment buildings with four or more units has been expanded to enable residents to seek the help of non-profit organizations and to include an administrative hearing process for the Department of Building Inspection to evaluate complaints. In Austin, the city has officially begun treating short-term rentals as hotels, subjecting them to hotel taxes and a permit requirement, which went into effect October 1st of this year. In Seal Beach, the City Council will take a final vote on November 13 on an ordinance banning any future vacation rentals. And finally, the city of Columbia Falls has unanimously approved an administrative conditional-use permit system to keep track of and reduce the number of short-term rentals in residential areas, which went into effect in August earlier this year.

Opponents of short-term rentals in all five cities cite concerns for health and safety and protection of the local community in their defense of official regulation. Many owners of such rentals, however, have paid no heed to the new regulations. In response to property owners ignoring the law, some city governments are taking further action: New York Citys City Council passed a bill earlier this year that increased the maximum fine against illegal hotels from $ 2,400 to $ 25,000. President of San Franciscos Board of Supervisors David Chiu is working on possible proposals to regulate online corporate hotelization and shared housing services (ala Airbnb). And in Austin, the City Council was forced to go back and alter the newly enacted ordinance with reduced application fees after the current regulations proved ineffective all serving as confirmation that even the most stringent of regulations, including prohibition, are not enough to dissuade residents and landlords from leasing their properties for periods of less than 30 days, as doing so has proven to be a profitable practice, and for some a financial necessity. What an effective regulation on short-term rentals would look like is still to be determined.

It seems there is no such thing as a growing industry without an equal helping of regulation. The emergence of new taxes and more stringent regulations on short-term rentals in the communities listed above is likely a prelude to more regulations and taxations in other cities across the country, which may soon include Miami, Washington D.C., Dallas, Chicago, and a city near you.

More information on this subject can be found at Metrosetter Wire, a blog for the corporate housing industry.







Baltimore-area foreclosure rates increased in August

Baltimore-area foreclosure rates increased in August
The increase in Maryland's foreclosure rate is likely driven by a the substantial “shadow inventory” that built up when banks put the brakes on their foreclosure processes in the fall of 2010. At that time, bank became wary of moving forward with …
Read more on Baltimore Sun

Number of local foreclosures up
Nationally, the number of default notices, scheduled auctions, and bank repossessions was the lowest total since July of 2007, according to National Mortgage Professional Magazine. However, Delta County has been experiencing a foreclosure rate rivaling …
Read more on Escanaba Daily Press

Report Points to Increased Appetite for Distressed Commercial Real Estate Supported by Low Borrowing Costs in 2012 and 2013; CMBS Delinquency Rate Falls Below 10%


San Francisco, CA (PRWEB) October 23, 2012

There is a change in the U.S. commercial mortgage-backed securities (CMBS) industry. The U.S. CMBS Delinquency Report, released by the New York-based research and consulting firm Trepp, indicates that the distressed commercial real estate industry is in somewhat better health.”The CMBS market is on its firmest footing in four years,” said Manus Clancy, senior managing director of Trepp. In fact, the delinquency rate for CMBS loans fell 14 basis points to 9.99% in September. This brings the rate below 10% for the first time since April.

The Trepp report says that CMBS issuance levels rose, and delinquency levels have contracted. Trepp, LLC, is a leading provider of information, analytics and technology to the CMBS, commercial real estate and banking markets,

However, bad debt and matured loans still linger, and need to be cleared out of the system or be reworked. Trepp reports that there were around $ 3.3 billion of newly delinquent loans in September. The addition of these loans to the delinquent loan category provided upward pressure on the rate. With the same amount of newly delinquent loans in August, the effect on the rate was similar.

Trepp reports that the appetite for distressed real estate remains high among investors, while borrowing costs remain extremely low. This should allow special servicers to operate at a high speed for the foreseeable future. The CMBS new issuance market has also seen a resurgence over the last three months, leading the market to raise its expectations for securitization volume over the next six months. As new deals tend to perform extremely well, they should help to dilute the bad legacy loans that still exist.

Clearly, the chance to buy distressed commercial real estate at low prices is here, and the moment for entry into the market is now, as competition for available assets will only become steeper in the near future. To get the best of the distressed commercial market, however, analysts say that buyers need to reach out directly to sellers and to negotiate person-to-person, or use a specialist like Genesis Capital. Even at this point in the cycle, owners are finding it hard to accept the lower valuations that the post-crisis period has brought in. Experienced negotiators can get past this psychological obstacle.

About Genesis Capital

Genesis Capital provides a unique forum for distressed and off market assets. Genesis sources off market assets from private clients and from banks for opportunity buyers. Assets may or may not be distressed, but they are always off market. Genesis works principal to principal only (no brokers) and keeps fees low.







Find More Loans For Real Estate Investors Press Releases