Real Estate News 01/12/2024

Today’s News Synopsis:

An accessory dwelling unit (ADU) — sometimes called a granny flat, back house or garage apartment — is an independent living space sharing the same lot as a single-family house.

In The News:

SF Gate– “Want to Add a Granny Flat or Rental ADU? Here’s How to Finance It” (01-08-24)

“Depending on the structure and the local slang, you might know it as a granny flat, carriage house, garage or basement apartment, backyard cottage, tiny house or something quirkier.”

NAR –  “REALTOR® Technology Survey” (01-08-2024)

“In October 2023, NAR invited a random sample of 52,843 active REALTORS® to fill out an online survey. A total of 2,632 usable responses were received for an overall response rate of 5.0 percent. At the 95 percent confidence level, the margin of error is 1.91 plus-or-minus percent. ”

Fast Company –  “The housing market is being hit by home insurance shocks—these maps show the most vulnerable areas” (01-11-2024)

“This analysis projects which counties are at the highest risk of an “insurance correction” due to fire, wind, and flood risk.”

NAR –  “5 Trendy Home Design Details for 2024” (01-08-24)

“From mixed-up backsplashes to fluted accents, here are a few of the home trends that add a more customized touch.”

CBS News –  “How to deduct your home equity loan interest from your taxes” (01-09-24)

“With 2023 over, millions of Americans turn with a hopeful eye toward 2024. While their finances may have been hurt by inflation and higher interest rates the year prior, there are some encouraging signs for a better calendar year. ”