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Connecticut Properties Values Crash

Connecticut Properties Values Crash

Connecticut Properties Values Crash

The Storm in Real Estate

IncSmart Connecticut (Small Business and Startups) - Connecticut property values crash in 2019.   Connecticut is suffering a sever housing price decline,  especially for high end real estate.  Owners are selling homes from far less than what they purchased 10 years ago.  Connecticut's foreclosure rate is well above the national average, and the place to live between  New York City and Boston is tainted as a failure.  
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Delaware Beach Cities Boom

Delaware Beach Cities Boom

Delaware Beach Cities Boom

New Hotel Room Growth

IncSmart Delaware (Small Business and Startups) - Delaware beach cities are getting a hotel boom.  Twelve new hotels are on the books for Delaware beach cities, creating a building boom in the southern part of the state.  This redevelopment is particularly noticeable in Sussex County and Rehoboth.  2018 occupancy rates are about 80%, according to the Southern Delaware Tourism Association.  Much of the Delaware market is from New York City and Philadelphia. 
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New York Growing Industry

New York Growing Industry

New York Growing Industry

Brooklyn Navy Yard

IncSmart New York (Small Business and Startups) - New York growing industry in high tech is a boom for Brooklyn.  Technology is changing Brooklyn real estate and driving economic growth.  Brooklyn is booming after the era of industry moving from the US.  The empty factories and warehouses are in demand and real estate prices are increasing, as Brooklyn experiences rapid growth.   Brooklyn also has a number of Opportunity Zones with tax incentives.  The Trump Opportunity Zones were passed as part of the Federal Tax Reform Bill of 2017.  These zones are low income and economically depressed areas.  
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New York Mansion Tax

New York Mansion Tax

New York Mansion Tax

Tax Will Further Slow a Sluggish Market

IncSmart New York (Small Business and Startups) - New York Mansion Tax gets moved along with the State Senate Democrats while looking around for more income to overhaul a crumbling mass transit system.  The new law imposes the bill on buyers but with the real estate sluggish in New York, it will more than likely be paid for by the sellers.  Luxury homes are down 25% and the inventory is growing. 
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Minnesota Flood Diversion

Minnesota Flood Diversion

Minnesota Flood Diversion

Channeling the Red River North

IncSmart Minnesota (Small Business and Startups) - Minnesota Flood Diversion plans on saving property on the Red River is moving along.  Cities in both Minnesota and North Dakota have been buying houses along the Red River at a steady paced, and replacing them with flood levies and walls.  The record flood in 2009, forced the residents to fill over 7 million sandbags in 10 days.  The original cost by the US Army Corps of Engineers was $1.4 billion dollars, but has increased to over $2.75 billion.  
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Google Real Estate in New York

Google Real Estate in New York

Google Real Estate in New York

Large Google Campus in Manhattan

IncSmart New York (Small Business and Startups) - Google is expanding its real estate in New York.  The new property is in Hudson Square in Manhattan on Washington and Hudson Street.  The building is called St. Johns Terminal.  The investment of just under 2 billion dollars next to the entrance of the Holland Tunnel, and will occupy 2 million square of office space.  They hope to occupy the Hudson Street property by 2020.  US business is under pressure from President Trump to create more jobs domestically.  
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California Suffers Housing Slump

California Suffers Housing Slump

California Suffers Housing Slump

Southern California Real Estate Grinds to a Halt

IncSmart California  (Small Business and Startups) - California suffers housing slump with the fear that a crash is coming to the real estate market.  This is the worst time for real estate in over 10 years.  The number of new and existing homes plummeted 18% compared to last year.  California by far has the most expensive houses in the West.  The current median home prices in California are $500,000, and home ownership in California is at a 70 year low.  Median rent in San Francisco is $4200 a month. 

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Oregon Rents Drop

Oregon Rents Drop

Oregon Rents Drop

 Sharpest Decline in America

IncSmart Oregon (Small Business and Startups) - Portland Oregon rental fees have the largest decline in America.  The price of rent in Oregon has declined 2.5%.   Rents have been slowing for eight consecutive months.  There are 15,000 more apartments not in Portland than there were in 2015 when they were having a housing shortage.  With the job market so strong, developers have over built in the city, and they now face an urban construction boom.  
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New York Real Estate Prices Tumbling

New York Real Estate Prices Tumbling

New York Real Estate Prices Tumbling

 Manhattan Home Prices Fall Again

IncSmart New York (Small Business and Startups) - New York Real Estate Prices Tumbling.  Manhattan home prices are falling again.  New York home buyers are feeling the pinch of state taxes with the Federal Tax reform laws.   Medium  Manhattan homes took another dip of 4.5% because of the policy changes in Washington and the higher taxes in New York.  The new law from the District of Columbia limits the amount of property taxes that can be deducted from the Federal Tax returns.  Rising interest rates are also having an impact on the market, even though they are still at historic lows.  


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New Loan Programs in District of Columbia

New Loan Programs in District of Columbia

New Loan Programs in District of Columbia

Fannie Mae’s HomeReady and Freddie Mac’s Home Possible

IncSmart Washington DC (Small Business and Startups) - New loan programs targets buyers with just 3% down or less.  These new loans are for customers with small savings accounts.  The 3% down payment is called a 97 loan to value.  This is also available on conventional loans.  There maybe income limits to the HomeReady program.  These limits can go away if one of the borrowers is a first time buyer.  Payments from rental property may also be considered income.  

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McDonalds Moves Illinois Headquarters

McDonalds Moves Illinois Headquarters

 McDonalds Moves Illinois Headquarters

New Chicago Office Officially Open

IncSmart Illinois (Small Business and Startups) - McDonalds moves it Illinois headquarters to Chicago after 47 years.  The new office is in the West Loop neighborhood.  "We are welcoming home the most iconic American business to the most American of American cities" said Mayor Rahm Emanuel.  Ray Kroc, the original owner sold his company to the McDonald Brothers.    
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California to Require Solar on New Homes

California to Require Solar on New Homes

California to Require Solar on New Homes

New Laws to Start by 2020

IncSmart California  (Small Business and Startups) - California will become the first state in the union to require solar panels on all new homes.  This law will require all building, three stories high, including single family homes and condos, to install solar starting 2020.  Still needs final approval from the California Building Standards Commission.  
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Nebraska $500 Million Redevelopment

Nebraska $500 Million Redevelopment

Nebraska $500 Million Redevelopment

ConAgra Campus Gets New Life

IncSmart Nebraska (Small Business and Startups) - Nebraska begins a new $500 million redevelopment for downtown Omaha.  The 10 year project could break ground in 2019.  The project encompasses a two block long plaza of the old Conagra headquarters.  Conagra moved it's headquarters from Omaha to Chicago last year.  The old Conagra campus will get new life.  The development requires various approvals, including a request for for tax increment financing to help defray the public improvement requests.  
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Blueprint for Downtown Atlanta Georgia

Blueprint for Downtown Atlanta Georgia

Blueprint for Downtown Atlanta Georgia

Ten Year Development Plan

IncSmart Georgia (Small Business and Startups)Atlanta has created it's development plan for downtown.  The city council is adding more than $4 billion in public and private investment programs.  The development plan is a 10 year wish list.  This is on top of the $4 billion in recent projects such as Railroad Gulch, Philips Arena and the sale of Underground Atlanta and the Atlantic Civic Center.  A green project is also emerging to plant over 10,000 tress to help remove the urban island heat problems, at the same time filtering pollution and east the noise of city streets. 
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