New York Attorney General Letitia James has announced a new package of legislation to create the specific crime of “deed theft.”
Deed theft occurs when someone conveys a property deed to another party without the informed consent of the rightful owner. The new law against it is meant to bolster the remedies available under New York’s real estate deed protection measures, and to make prosecution easier whenever New York state residents fall victim to shady deed shifting.
In April 2023, in a U.S. first for cryptocurrency, Coinbase enabled bitcoin purchases of Texas real estate.
In June 2023, real estate in other “select states” will be available.
The company behind the integration is a startup named MyEListing. Based in Cedar Park near Austin, Texas, it’s a free-to-use marketplace for investors. MyEListing displays both listings and data, along the lines of the Zillow or Redfin websites.
Both residential and commercial properties are listed on its website, and its new tool on the U.S. cryptocurrency exchange Coinbase will enable people to buy real estate with bitcoin.
“I am meeting young people who make $78,000 and they cannot find a home. They cannot bid (against investors). They don’t have the money…Who wants to pay $3,000 a month for their first home? Nobody. It’s unsustainable.”
—Dina Neal, a state senator in Nevada, quoted in the Nevada Current.
We all know the stories of investors elbowing out ordinary home buyers. Corporate buyers really revved up after Covid took hold and real estate prices soared. Especially in Nevada. The nonprofit Stateline, examining statistics from CoreLogic, found that investor-buyers snapped up about one in four Nevada listings by 2021. Only Georgia and Arizona beat out Nevada on the score of how much real estate is going into the portfolios of corporate real estate investors.
Now, it looks like policy makers are ready to push back. State Senator Dina Neal of North Las Vegas is sponsoring Senate Bill 395 to rein in the large, corporate buyers.
It’s legal to buy a house at the age of majority. That special number is 18 years old — with a few exceptions. People reach legal adulthood at 19 in Alabama and Nebraska. And Mississippi residents are late bloomers—they stop being minors at age 21.
Legal majority means you’re old enough to apply for mortgages, sign (or even co-sign) binding contracts, and close real estate deals.
But it usually takes quite a few years after the age of majority to build the credit profile that works for a mortgage.
The red-hot real estate market might have cooled somewhat. But with housing in relatively short supply, affordability is hard to come by. The major hurdles for buyers right now? Down payments, mortgage payments, and interest.
There are no simple hacks to work around these hurdles. But there are a few indicators worth watching closely.
Setting up an LLC for an investment property is simple, and not terribly time-consuming. Doing it well does take research, attention, and professional support. But it may be worthwhile.
Here are some basic considerations to have on your radar if you wonder whether forming an LLC could be a worthwhile goal. This is not legal or financial advice — just a checklist to help guide your own due diligence.
Last year, Fidelity launched its Metaverse exchange-traded fund — the ETF with the ticker symbol FMET.
The Fidelity Metaverse Index tracks the current development of a future internet. According to Fidelity’s website, the metaverse will blend “augmented reality and virtual worlds” and enable many people to be work, play, and invest in these settings, “persistently and in a shared environment.”
It sounds like a projection of our current lives. But in the metaverse, we’ll enjoy experiences remotely, whenever we’re ready. As Andrew Kiguel, CEO of metaverse property investment firm known as Tokens.com, told CNBC: “You can go to a carnival, you can go to a music concert, you can go to a museum.”