Orlando airport's land sale sets stage for thousands of new homes!

Airport Authority to sell land to Tavistock Development Company Orlando International Airport plans to sell 782 acres to Tavistock Development Company for real estate development. Orlando International Airport’s long-anticipated sale of vacant land could lead to thousands of new homes in southeast Orlando.

Among provisions, the monumental deal turns over about 780 acres to Tavistock Development Company LLC, creator of nearby Lake Nona real estate. In return, the Greater Orlando Aviation Authority is pocketing at least $60.8 million and a Tavistock agreement that nobody will make a stink about jets roaring over backyard pools.

We also want a clear acknowledgement that there is an airport next door — Airport director Phil Brown. “We want something compatible,” airport director Phil Brown said of a lucrative sale structured for what had become surplus land. “We also want a clear acknowledgment that there is an airport next door.”

The authority’s unprecedented transaction may provide significant lift for the city’s growth around the airport and beyond; that southeast sector of Orlando is expected to swell by mid-century to nearly 50,000 residents, or as many as now in Orange County’s second biggest city, Apopka.

The Greater Orlando Aviation Authority approved the sale last month without comment.

That was nearly a technicality as momentum for a transaction had been emerging publicly in various stages for years. There are still hundreds of acres of additional surplus property to be sold or undertaken as a commercial venture by the aviation authority.

The sale to Tavistock involves land bought nearly three decades ago for airport growth. In 1989, the aviation authority acquired 2,098 acres for $12.4 million from the Poitras family. The acreage borders Osceola County a few miles south of the airport’s campus.

The aviation authority had two needs for the Poitras property. It would mine thousands of tons of dirt and sand there to build the airport’s fourth runway.

The authority also would designate some of the Poitras acreage for permanent environmental protection as compensation for hundreds of acres of wetlands destroyed by runway construction.

Even then, however, some environmentalists were dubious about the conservation value of Poitras property; it appeared increasingly as a remnant of nature amid urban encroachment.

They were really limited on what they could do as a developer themselves — Orlando chief planner Elisaeth Dang on GOAA's development attempt. In the late 1990s, the city annexed the tract, nearly 15 miles southeast of downtown, labeling it for urban use.

The land has never been given a zoning designation but was marked by the city as within a noisy route of aircraft. About a decade ago, the aviation authority went to city officials, with plans to pursue Poitras acreage for residential and commercial enterprises.

But the authority found progress would be difficult because of federal rules for airport property. “They were really limited on what they could do as a developer themselves,” the city of Orlando’s chief planner Elisabeth Dang said.

The authority dropped its efforts as the recession took hold, Deng said.

Last year, the authority signaled that it would resume its quest for Poitras property by selling it, but rather than setting a price, the authority first went in search of a buyer.

Two suitors responded to a request for qualifications, Tavistock and Crescent Communities LLC of Charlotte, N.C. The aviation authority chose Tavistock because of its previous enterprises in the area and “their development of the Lake Nona Medical Center.”

Tavistock Development intends to combine the Lake Nona and Poitras Property. Orlando’s VA Medical Center and the UCF College of Medicine are about a mile from the land being bought by Tavistock.

The pricing ultimately was based on appraisals.

Documents filed by the company with the city and aviation authority give some sign of what’s to come: 3,196 homes, with many gated and styled after Lake Nona housing. “Tavistock Development intends to combine the Lake Nona and Poitras Property,” states a Tavistock letter, “to further maximizes synergies between the properties.”

Many regulatory steps are ahead for Tavistock and GOAA, the aviation authority. Among them, environmental protections for part of the Poitras parcel remain in place, prohibiting development and enforced by state authorities.

An aerial photo taken June 16, 2009 shows the UCF Medical School Campus and the infant stages of Medical City. Poitras property is in upper left.  Some restrictions previously were lifted, a result of the aviation authority paying millions of dollars for environment enhancements and protections elsewhere.

But there are development prohibitions on approximately 380 acres that Tavistock is buying in addition to the 780 acres for nearly $61 million. If those restrictions are lifted, Tavistock will pay $85,000 per acre, or nearly as much as for the 780 acres. If they aren’t, the price could be $3,500.

Tavistock appears before the city’s Municipal Planning Board next month as part of seeking zoning and project approvals.

“If Tavistock and GOAA are ready to move, we could do all of this in six months,” said Dang, the city’s chief planner. “A lot of this depends on their timing, more so than ours.”

Kevin Spear - Orlando Sentinel

Millennial homebuyers want space for the dog

Young people are more motivated to buy a home to have a yard for their dog than they are by an upcoming marriage or the birth of a child, according to a new survey done for SunTrust Banks Inc.

In the survey, conducted online by Harris Poll on behalf of SunTrust Mortgage, a third of millennials who purchased their first home said they wanted better space for a dog or a back yard.

That was the third most popular answer from the group, aged 18 to 36. Wanting more living space was No. 1 at 66 percent, and the opportunity to build equity, was second at 36 percent.

A marriage or upcoming marriage was cited by 25 percent of survey respondents, while the birth of a child or expected birth was cited by 19 percent.

“Millennials have strong bonds with their dogs, so it makes sense that their furry family members are driving home-buying decisions,” said Dorinda Smith, SunTrust Mortgage President and CEO. “For those with dogs, renting can be more expensive and a hassle; home ownership takes some of the stress off by providing a better living situation.”

Among millennials who don’t own a house, 42 percent say that their dog — or the desire to get a dog — is a key factor in their desire to buy a home in the future.

Mark Meltzer, Executive Editor - Atlanta Business Chronicle
Orlando Business Journal

Can you flip a house for profit in this market?

If flipping a house in today's real estate market seems riskier than trekking with a ragtag band of hobbits to Mordor, take heart: Home flippers can still find plenty of opportunities, though they're not entirely without risk.

It may seem counterintuitive to invest in real estate when the housing market is in its darkest hour. But in fact, it may prove to be the most optimal time for such a venture.

According to RealtyTrac, a seller of mortgage default data, the foreclosure rate reached its highest level in 50 years in 2007, and rose to even higher numbers in 2008. Real estate investors are finding bargains everywhere, particularly in formerly hot housing markets such as Florida, Nevada and California.

Angie Hicks, founder of Angieslist.com, a compendium of consumer-service reviews, says a Fall 2008 informal poll of list members found that of those who had purchased a home in foreclosure, 29 percent of respondents had done so within the last six months. Of those, 95 percent said their purchases were profitable.

Do your research

"The key ... is doing your research and knowing what you're getting into," says Hicks. "Know the area you're buying, the market, how the price compares to the neighborhood."

The horizon is flush with opportunity for those with the money and know-how to snap up a bargain and flip it, but to make it pay you first must understand how the rules of the game have changed.

Stick with familiar territory. Charlotte, N.C., resident Emma Allen, CEO of Emma Allen Enterprises and an experienced flipper, says there's lots of inventory on the market.

"The prices that were recently so outrageous are down again, so those with capital or access to credit will find it's a very good time to pick up bargains in the marketplace," says Allen, who finds those bargains mostly in neighborhoods where she would like to live. Areas undergoing urban renewal present good investment opportunities.

Check your capital

It seems elementary, but in the recent past many flippers found themselves in trouble because they had not correctly calculated the amount of money it takes to finish a flip and market it. Allen says investors should figure out how much money they'll need right upfront, and not just the purchase price. It translates to being realistic about renovation costs and the hidden expense of carrying costs that gets so many in trouble.

"You may have carrying costs on the books longer than you think," Allen says. "The days of the 60-day flip are gone." Carrying costs, or house payments you must make until you sell the property, can subtract thousands from the bottom line. And even though you are technically chipping away at the debt incurred when you purchased the property, the interest you're paying at the top of the flip probably won't be earned back in the sale. Those payments come right out of your potential profit.

Financing your flip

What about financing in general? While it's certainly more difficult to obtain a bank loan, it still can be done. But having a stash of cash is still important. Veteran Southern California flipper and interior designer Nicole Sassaman advises would-be flippers looking for a loan to "be sure to have 25 percent down and 18 months of reserves in the bank."

Cut your costs creatively. Flipping in an economy that's not terribly user-friendly takes guts and creativity. Home flipper and Internet entrepreneur Scott Patterson says he increases his chances for success by breaking as many rules as possible, including making aggressive "low-ball offers" on potential flips.

"(I) offered $80,000 on a house I would have offered $100,000 (on) a year earlier," Patterson says. His strategy worked and he sold the renovated home for a tidy $160,000 a few months later.

Patterson also hopes to cut the middleman by obtaining his real estate license, letting him pocket the commission he would normally pay to sell his flips. He actively seeks capital via Internet and e-mail lists, marrying projects to the right investors.

"The stock market tanking has more people thinking that real estate is looking good right now," Patterson says.

Consider it a long-term investment. Real estate consultant and mortgage broker Todd Huettner of Huettner Capital says changing markets have forced his clients to alter their business practices. Huettner says that while a quick flip is possible, investors should be prepared to hold the property for several years as a rental.

Carole Moore, Orlando Sentinel

U.S. Needs 4.6 Million New Apartments by 2030

Growing Demand Due to Aging Population, Immigration, Delayed Home Purchases

According to a new study commissioned by the National Multifamily Housing Council and the National Apartment Association, delayed marriages, an aging population and international immigration are increasing a pressing need for new apartments in the U.S., to the tune of 4.6 million by 2030. It's important to note that:

• Currently, nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity; 
• In the past five years, an average of one million new renter households were formed every year, which is a record amount; and, 
• It will take building an average of at least 325,000 new apartment homes every year to meet demand; yet, on average, just 244,000 apartments were delivered from 2012 through 2016.

Based on research conducted by Hoyt Advisory Services and commissioned by NAA and NMHC, the data includes an estimate of the future demand for apartments in the United States, the 50 states and 50 metro areas, including the District of Columbia. For the purposes of this study, apartments are defined as rental apartments in buildings with five or more units.

The increased demand for apartments is due in large part to:

• Delayed house purchases
  Life events such as marriage and children are the biggest drivers of home ownership. In 1960, 44 percent of all households in the U.S. were married couples with children. Today, it's less than one in five (19 percent), and this trend is expected to continue.
• The aging population
  People ages 65-plus will account for a large part of population growth going forward across all states. The research shows older renters are helping to drive future apartment demand, particularly in the northeast, where renters ages 55-plus will account for more than 30 percent of rental households.
• Immigration
  International immigration is assumed to account for approximately half (51 percent) of all new population growth in the U.S., with higher growth expected in the nation's border states. This population increase will contribute to the rising demand for apartments. Research has shown that immigrants have a higher propensity to rent and typically rent for longer periods of time. 

"We're experiencing fundamental shifts in our housing dynamics, as more people are moving away from buying houses and choosing apartments instead. More than 75 million people between 18 and 34 years old are entering the housing market, primarily as renters," said Dr. Norm Miller, Principle at Hoyt Advisory Services and Professor of Real Estate at the University of San Diego. "But renting is not just for the younger generations anymore. Increasingly, Baby Boomers and other empty nesters are trading single-family houses for the convenience of rental apartments. In fact, more than half of the net increase in renter households over the past decade came from the 45-plus demographic."

"Apartment rentals are on the rise, and this trend is expected to continue at least through 2030, which means we'll need millions of new apartments in the U.S. to meet the increased demand. The western U.S. as well as states such as Texas, Florida and North Carolina are expected to have the greatest need for new apartment housing through 2030, although all states will need more apartment housing moving forward," said NAA Chair Cindy Clare, CPM. "The need is for all types of apartments and at all price points."

There will also be a growing need for renovations and improvements on existing apartment buildings, which will provide a boost in jobs (and the economy) nationwide. Hoyt's research found that 51 percent of the apartment stock was built before 1980, which translates into 11.7 million units that could need upgrading by 2030. The older stock is highly concentrated in the northeast.

"The growing demand for apartments - combined with the need to renovate thousands of apartment buildings across the country - will make a significant and positive impact on our nation's economy for years to come," explained NMHC Chair Bob DeWitt. "For frame of reference, apartments and their 39 million residents contribute $1.3 trillion to the national economy. As the industry continues to grow, so will this tremendous economic contribution."

Other highlights from the report include:

Demand is expected to be especially significant in Raleigh, N.C., with a 69.1 percent increase in new apartment units between now and 2030, Orlando, Fla. (56.7 percent), and Austin, Texas (48.7 percent). Also notable, the demand in the New York City metro area will call for an additional 278,634 apartment units, Dallas-Ft. Worth, Texas (266,296 new units), and Houston, Texas (214,176 new units). Propensity to rent is higher in high-growth and high-cost states.

Hundreds of thousands of new rental units will be needed by 2030 in states such as California, Georgia, Arizona, Florida, North Carolina, Nevada, New York, Texas, Virginia and Washington.

By Monsef Rachid - World Property Journal 

The difference between your interest rate and the APR

Understanding the difference between annual percentage rate, or APR, and interest rate could save you thousands of dollars on your mortgage. But if you're like most homebuyers, you probably don't know that the interest rate and the APR measure 2 important, but different, costs associated with your home loan.

"I regularly work with clients who don't understand the APR," says Todd Huettner of Huettner Capital in Denver. "If they don't have questions about the APR or the Truth in Lending disclosure, where the APR is calculated, I know they simply didn't read it."

Interest rate and APR
The interest rate is the cost of borrowing the principal loan amount. It can be variable or fixed, but it's always expressed as a percentage.

The APR is a broader measure of the cost of your mortgage because it reflects the interest rate, as well as other costs such as broker fees, discount points and some closing costs. The APR is also expressed as a percentage.

Why have both?
"The main difference is that the interest rate calculates what your actual monthly payment will be," says Sean O. McGeehan, a mortgage sales manager in Chicago. "The APR calculates the total cost of the loan. A consumer can use one or both to make apples-to-apples comparisons when shopping for loans."

For example, a loan with a 4% rate will have a lower monthly payment than a loan with a 6% rate, assuming both are fixed for the same term. Likewise, the total cost of a loan with a 4% APR will be less than one with a 6% APR.

Where it gets tricky
Separately, the interest rate and the APR have their limits. But together, borrowers should be able to use both figures to determine their monthly payments, as well as their total costs. The trick, says McGeehan, is to understand the interplay between the 2 figures.

"If a consumer is only focused on getting the lowest monthly payment, they should focus on the interest rate," says McGeehan. "But if the consumer is focused on the total cost of the loan, then they can use the APR as a tool to compare the total cost of 2 loans."

This chart shows the interest rate, APR and total costs over time for a $200,000 mortgage in which 1.5 discount points cut the interest rate by one-quarter of a percentage point, and another 1.5 discount points cut the interest rate by a further quarter of a percentage point.

Time horizon matters
If you plan to stay in your home for 30 years or more, it probably makes sense to go with a loan that has the lowest APR because it means you'll end up paying the lowest amount possible for your house. But if your time horizon isn't that long, it may make sense to pay fewer upfront fees and get a higher rate -- and a higher APR -- because the total costs will be less over the first few years.

"Because APR spreads the fees over the course of the entire loan, its value is optimized only if a borrower plans to stay in the home throughout the entire mortgage," says Gloria Shulman, founder of CenTek Capital Group in Beverly Hills, California. "The key for looking at APR, as it is for many loan decisions, is time horizon. It's the most important question borrowers need to ask themselves before looking for a home and the mortgage that best fits their current and projected financial and family situations."

Figure the break-even point
If you're planning to stay in your home for a shorter period, Huettner says, you need to do the math and figure out where your break-even point is. Bankrate's mortgage point adviser calculator will help.

For example, if you chose a 0.25% lower rate for an additional 1.5 points because of the lower APR, but you moved in 5 years, you lost money, he says. Your break-even on the points was 7 years.

Unfortunately, those calculations can often be confusing for most homeowners, which is why it's crucial to pick the right lender.

"Interest rate and APR are important, but you should worry more about finding the right lender to explain your options and help you understand how they meet your specific needs," Huettner says.

By Michael Estrin • Bankrate.com

Pre-Approved vs. Pre-Qualified: What Mortgage Shoppers Need to Know

Getting approval on a mortgage is a process with no shortage of moving parts. That's why residential mortgage consumers need to leave no stone unturned in figuring out where tripwires lie on the mortgage-approval landscape. One area where home buyers run into problems is failing to understand the difference between being pre-qualified for a mortgage and being pre-approved for one.

Before the Great Recession, mortgage approvals were like ice cream flavors at Baskin-Robbins—numerous and easy to get. But in the last five years mortgage lenders have significantly restricted their offerings, and borrowers need to be prepared for the tougher requirements or risk being turned down by banks and other lenders.

Just because you are pre-qualified for a mortgage doesn't mean you will get one. But when you are pre-approved your chances for a green light from a lender are greatly increased.

What your mortgage lender looks at
"In general, a lender who prequalifies a buyer discusses a buyer's credit, income and assets with them," said Michael Minervini, a real estate agent for Re/Max in Red Bank, NJ. "A lender who pre-approves a buyer runs their actual credit and verifies their income and assets. That's a major difference since agents and sellers view a pre-approval as a more firm start to the home-buying process."

Cal Haupt, president and chief executive officer at Southeast Mortgage, explained what the pre-approval process means to homebuyers once it starts rolling.

"Your loan would be submitted for preliminary underwriting, which normally takes no longer than 24 hours," Haupt said. "Your mortgage consultant would then provide you with a pre-approval letter that defines the loan amount you are approved to receive."

"Pre-approvals are normally good for a 120-day period, so it's important to begin your home search with your real estate professional as soon as possible after receiving your pre-approval letter," he said.

The difference between mortgage pre-qualification and pre-approval
According to David Hall, president of Michigan-based Shore Mortgage, a mortgage pre-qualification is an initial assessment of a potential buyer, and often it's not worth the paper it's written on.

But a pre-approval goes deeper and involves a more thorough look into your income and expenses, including a look at your credit score.

"Let's think in terms of the view from a plane," Hall said. "The pre-qualification is a 250,000-foot view, and a pre-approval is a closer-up, 30,000-foot assessment of the eligibility of a client to secure a loan."

To help you land your dream home, try a pre-approval service like the one featured on the Realtor.com individual listings pages. By checking the box that says, “I want to get pre-approved by a lender”, you’ll be connected with up to three lenders right away.

The importance of mortgage pre-approval
There's no harm in getting pre-qualified—it's a good gateway to buying a home. But to lock down that home, focus on getting pre-approved, Minervini said.

"Buyers should always get pre-approved only," he said, "And here's why: First, a buyer can confirm the sample monthly payment that they may own when they close, and they can get an idea of the home's price range. Then, they can determine if there are any potential unknown credit issues that may need to be addressed prior to purchasing."

Why you should know the difference
Getting square on pre-qualified versus pre-approved streamlines the entire home-purchase process.

"If all parties involved are aware of the distinction, it helps everyone play their role to the best of their ability," said Ted Rood, a senior mortgage consultant with Wintrust Mortgage and a contributor to Mortgage News Daily. "The listing agent who calls the mortgage originator to ask if the buyer's income and asset docs have been examined clearly understands the differences between pre-qualifications and pre-approvals."

On the other hand, the mortgage loan originator who deals with the real estate agent has a better grip on the entire process, by providing clarity on the firm's pre-qualification or pre-approval process, he said.

Even homebuyers can leverage the distinction between the two processes to help their own cause.

"Clients armed with this information can request a thorough pre-approval rather than a cursory pre-qualification, and play a role in ensuring the best possible handling of their transaction," Rood said.

The takeaway for homebuyers? Know the difference between being prequalified and pre approved, and focus your energy on accepting the former, but aggressively seeking the latter.

Do that and you've taken a huge step in buying the home of your dreams.

Realtor.com

Real estate CEO: Record-low housing inventory is 'freaking us out'

Housing inventory continues to drop amid tight credit and a growing tendency toward becoming a landlord. Homes in April sold the fastest since Redfin began tracking the market in 2010.

The number of homes for sale in America has been falling steadily for the past year, but the situation is apparently getting much worse as spring demand heats up.

"The inventory is reaching historic lows. It's never declined faster than it did last month. It's freaking us out — it's affecting our business; it's limiting our sales," said Glenn Kelman, CEO of Seattle-based Redfin, a real estate firm. "We're going to be fine in terms of market share, but I think the overall industry for the first time is seeing sales volume really limited by the inventory crunch."

Kelman started Redfin more as a technology company and touts his ability to track closely the more than 80 metropolitan markets it covers. He blames the lack of inventory on a new dynamic in housing.

"It's a new landlord nation where everybody is renting out their basement. When somebody moves up they don't sell their old place, they rent it out to somebody else, and it's because they want to keep that 30-year mortgage for 30 years, and it's because they can easily find somebody on Airbnb who will take the place," Kelman said.

Homes in April sold the fastest since Redfin began tracking the market in 2010. The typical home went under contract in just 40 days, 10 days faster than April 2016. As a result, 1 in 4 homes sold above their list price, which is the highest percentage Redfin has recorded.

Home prices continue to move higher as well, but, "It's not a bubble," said Kelman emphatically, who cites tight credit as keeping the bubble at bay.

Inventory of homes for sale fell about 7 percent nationally in March, compared with a year ago, according to the National Association of Realtors. Like most, Kelman blames the problem on a lack of new construction. On the single-family side, homebuilders are still putting up 18 percent fewer homes than the 25-year average.

"Cranes fill the sky in every town, but they're building office buildings," he said, noting that while employment is going up, there's no commensurate increase in the number of houses. In fact, he added, when people do construct housing, they're opting to build apartment complexes because tight credit is keeping many would-be buyers out of the market. "There is so much demand in terms of rent that it doesn't make sense to build properties for sale."

Diana Olick - CNBC

More buyers snap up homes before possible interest rate increase

Buyers continue to gobble up Florida’s declining single-family home inventory.

Here in Orlando, sales of single-family homes increased by 10.6 percent, going higher than the statewide average. Condo sales increased 18.4 percent, as previously reported by Orlando Business Journal.

Sales of single-family homes statewide totaled 25,921 last month. Of that amount, 2,707 were in Orlando.

Florida Realtors President Maria Wells attributes the strong sales to higher demand and motivated buyers taking action before interest rates can rise higher. The interest rate for a 30-year fixed-rate mortgage averaged 4.2 percent in March 2017, up from 3.69 percent a year ago, according to Freddie Mac.

The statewide median sales price for single-family existing homes last month was $231,900, up 10.4 percent from the previous year, according to the Florida Realtors.

Orlando’s overall median home price is $217,000, 11.3 percent above the March 2016 median price of $195,000, about $15,000 below the national average.

Sarah Aslam, Staff Writer - Orlando Business Journal

5 Ways Trump’s Presidency Affects the Real Estate Market

It’s no secret that the real estate market has been on a tear in the early part of 2017. But does President Trump have anything to do with it?

First, let’s take a look at the numbers. The supply of homes on the market is incredibly lean, according to Realtor.com, which has forced home prices higher. In February, homes sold 5% faster than they did in the same month a year ago, and five days faster than they did in January. The median list price remains at $250,000 – 9% higher than one year ago.

Although demand is higher, interest rates are rising. During the final week of February, the average contract rate for a 30-year fixed mortgage with conforming loan balances below $424,100 sat at 4.3% – still a bargain when compared to historical rates over time, but significantly higher than February 2016, when rates averaged 3.66%.

Against this landscape, experts say that Trump's presidency has already had an effect and will continue to influence real estate markets. Here is a look at five ways in which the president's influence is being felt – for good and for bad.

1. Higher Interest Rates
President Trump has made it clear that he’s not a fan of the Federal Reserve’s decision to keep interest rates low. The Fed has indicated that rates will continue to rise as the economy strengthens. Higher interest rates are great for investors, but for home buyers it means larger mortgage payments, and that will almost certainly slow the growth of the housing market. (For more, read: Can President Donald Trump Impact Mortgage Interest Rates?)

Thanks to a drop in interest rates during the last week of February, mortgage applications rose 5.8%, but that is expected to be short lived, say economists. And although the housing market is full-speed-ahead, the number of mortgage applications is still 45% lower now than it was at this time last year. There’s no doubt that as interest rates rise, mortgage applications fall.

2. Not Enough Workers
The demand for new homes is high, in part, because the nation’s home builders can’t find enough workers. Trump’s crackdown on undocumented immigrants could be making the problem worse. That’s because the construction industry has a large number of undocumented workers, according to Lawrence Yun, chief economist of the National Association of Realtors.

As the border tightens, the problem may only get worse, unless America can quickly train people with these construction skills.

3. Less Immigrant Demand
It may be surprising to learn that a 2013 study estimates that immigrants will account for 32.2% of household growth and 35.7% of growth in homeowners. What happens if the borders tighten and the immigrant population is smaller? Some experts believe that while this is a long-term effect, removing even a portion of this market could have a negative effect on home prices.

4. Freer Market – Higher Demand 
If President Trump gets his way, Americans will pay less in taxes. That’s a lofty goal and one that could come in any number of forms. But if it were to happen, that would certainly create higher demand in the housing market. Paying less in taxes means more discretionary income and more money to commit to a mortgage payment.

Although every personal finance guru will beg consumers to save and invest the extra money, the housing market will be a large beneficiary of it.

5. A Rising Stock Market Equals Higher Demand 
There’s no doubt that Trump has had a giant-size effect on the stock market, which has experienced more than double-digit percentage gains since the election. Most investors would be happy to see a fraction of that in a given year. Along with a rising stock market comes rising optimism. And that can translate to increased home buying. Whether the stock market is an accurate barometer of economic health has been the subject of a host of financial talk show debates. Either way, consumers may feel (what may turn out to be) a false sense of security while the bull market rages on. What goes up on Wall Street will eventually correct itself, potentially leaving some consumers overextended.

The Bottom Line
Since taking office, President Trump has made a lot of people a lot of money, and the real estate market can count itself as one of the recipients. But experts believe that some of his policies might serve to slow that market over time.

No stock market can keep up this growth pace forever. Whether it is President Trump, Clinton, Bush or anybody else, the Wall Street bull market will eventually come to an end, and solely blaming the person occupying the White House wouldn’t be fair or accurate.

By Tim Parker, Investopedia

Zillow ranks U.S. cities where people want to live - or leave

Residents of Washington, D.C., Miami, Detroit, Columbus, & Cincinnati want out — and not many house-hunters want in.

Meanwhile, Seattle, Tampa and Portland are popular targets for homebuyers who live elsewhere as well as residents who already live in those cities.

That's according to Seattle-based Zillow, which has analyzed searches from house-hunters to figure out which U.S. cities residents want to leave and where they want to stay.

By comparing the locations of its users with the cities that they're searching, Zillow has charted cities based on popularity with outsiders and popularity with current residents.

Here in Orlando, the study shows that more than 55 percent of Zillow page views from the metro area are for homes within the local market, according to the data. Explore the map below.

"Florida markets including West Palm Beach, Orlando, and Tampa are popular not only for searchers from Florida, but also from the Northeastern part of the country, likely because Florida is a common retirement destination for people in the Northeast," the report said.

Housing markets in Minneapolis and New York City show faint interest from outsiders but a strong majority of Zillow traffic coming from inside the city limits, showing residents want to stay in town with their next home purchase.

Casey Coombs, Staff Writer - Business Journal