Welcome to today’s real estate news roundup! In our latest stories, KB Home has announced the grand opening of Crestview, a new community in the highly desirable Ontario Ranch master plan. These modern homes are designed to meet the needs of today’s living, with spacious interiors and energy-efficient features. Meanwhile, a recent Supreme Court ruling in California could potentially lower construction costs and help address the state’s housing crisis. Bankrate provides insights into the housing market predictions for the next five years, including mortgage rates and home prices. Lastly, abandoned strip malls are being recognized as an opportunity to create much-needed affordable housing, with efforts underway to repurpose these spaces. Discover more about these fascinating topics by clicking on the links below.
KB Home Announces the Grand Opening of Its Newest Community in the Highly Desirable Ontario Ranch Master Plan
KB Home has announced the grand opening of Crestview, its newest community located in the highly desirable Ontario Ranch master plan in Ontario, California. The homes at Crestview are designed to meet the needs of modern living, with spacious interiors, modern kitchens, and ample storage space. The community is zoned for the highly ranked Ontario-Montclair School District, and its convenient location provides easy access to major employment centers and attractions in the Inland Empire and Orange County. KB Home offers personalized homebuilding experiences, allowing buyers to customize their floor plans and design choices. The homes are also energy-efficient and designed to be ENERGY STAR® certified. Crestview is situated in a commuter-friendly location close to major highways, shopping centers, and outdoor recreational areas. The sales offices and model homes are open for visits, and interested buyers can arrange live video tours with sales counselors. For more information, visit the KB Home website.
Supreme Court ruling could help lower CA housing costs | Opinion
A recent Supreme Court ruling on impact fees in California could potentially lower some of the construction costs associated with the state’s housing crisis. The high cost of construction in California, including factors such as land acquisition and building materials, has contributed to the chronic shortage of affordable housing. However, some costs imposed by state and local governments, such as high-cost unionized construction labor and impact fees, are artificial and could be reduced. Impact fees, in particular, have been a significant burden on housing development, with California’s fees being the highest in the nation. The Supreme Court ruling declared that these fees constitute an unconstitutional “taking” of private property without compensation unless based on actual costs. This ruling is seen as a small step towards reducing the costs that make housing expensive in California. To learn more about the impact of the Supreme Court ruling and its potential implications for housing costs, read the full article on CalMatters.
Housing Market Predictions For The Next 5 Years | Bankrate
Bankrate is a trusted source for helping individuals make smart financial decisions. With a long track record of providing reliable information, Bankrate aims to demystify the financial decision-making process and give people confidence in their actions. The real estate reporters and editors at Bankrate focus on educating consumers about buying or selling a home and navigating the complex housing market. They provide objective and accurate content to help readers make the best real estate deals possible. Bankrate follows strict editorial policies to ensure that their content is trustworthy and unbiased. The article discusses predictions for the housing market over the next five years, including mortgage interest rates, home prices, and market trends. Experts believe that mortgage rates will remain high but may gradually decrease in the coming years. Home prices are expected to appreciate, but not at a rapid pace. While there is no imminent danger of a housing market crash, experts predict a shift towards a more balanced market. The article provides strategies for saving for a down payment and offers advice on improving credit scores and managing debt. Bankrate’s goal is to provide readers with credible and dependable information to help them make informed financial decisions. To learn more about the housing market predictions for the next five years, read the full article on Bankrate.
How abandoned strip malls could help solve the housing crisis – Vox
Abandoned strip malls offer a unique opportunity to address the housing crisis by repurposing these spaces into much-needed affordable housing. Real estate developers and policymakers are increasingly recognizing the potential of mall conversions as a solution to the shortage of affordable homes. Converting strip malls into housing developments can create new homes across the United States, with estimates suggesting over 700,000 new homes could be built through these conversions. However, local zoning laws often pose a significant barrier to these projects. California has taken steps to facilitate the conversion of empty commercial buildings to housing, and the Biden administration has also expressed support for converting vacant strip malls into housing. Strip malls provide advantages such as large parking lots and existing infrastructure that make redevelopment easier. By rewriting zoning laws and providing incentives, more communities could unlock the potential of strip mall conversions to address the housing crisis. To learn more about the potential of strip mall conversions and their impact on housing, read the full article on Vox.