State and Local Housing Discussions

Gustan Cho Associates is now licensed in Puerto Rico and the U.S. Virgin Islands. Even though we are licensed in Puerto Rico, our list of wholesale lenders is limited. Christian Sorenson of Equity Prime Mortgage is one of our top lenders in Puerto Rico. Gustan Cho is getting a list of hard money and commercial lenders for Lending Network, LLC, for Puerto Rico on commercial loans:

Here is a blog about getting a mortgage loan with a U.S. lender for a home purchase in Puerto Rico https://gustancho.com/how-to-get-a-mortgage-in-puerto-rico/

Here is an article about buying oceanfront property in Puerto Rico and getting financed with a lender base in the United States https://gustancho.com/oceanfront-homes-in-puerto-rico/

• This discussion was modified 3 years, 2 months ago by  Gustan Cho. Reason: Want to get notified
• This discussion was modified 1 year, 5 months ago by  Sapna Sharma.
• This discussion was modified 1 year, 4 months ago by  Sapna Sharma.

gustancho.com

Easy Guide on How To Get a Mortgage in Puerto Rico in 2025

The best advice how to get a mortgage in Puerto Rico is to consult with a lender with no overlays with access to multiple wholesale lenders

Wisconsin is one of 9 community property state. On FHA LOANS the spouse’s debts are included on debt to income calculations. Spouse’s debts are not included on conventional, VA, Jumbo and non-QM loans

How much does it cost to live in the neighborhood boundaries of Chicago’s Top Rates Public Elementary Schools?

https://www.openhausrealty.com/blog/how-much-does-it-cost-to-live-in-one-of-chicago-public-schools-top-elementary-neighborhood-schools/

Historic Summit Avenue mansions are remarkable. The home to iconic author F. Scott Fitgerald, the Summit Avenue area encompasses nearly 5 miles of the best examples of Victorian architecture in the US. Walking tours of the area are available for those who wish to learn more about the homes and their rich histories. Nearly 85% of the original structures remain intact, and there has not been a demolition of a private residence in 60 years. This is such a beautiful neighborhood sprinkled with respected colleges, universities and churches. If you are considering St. Paul as your new home the attached article is worth reading.

https://www.visitsaintpaul.com/blog/summit-avenue-history-the-story-of-saint-pauls-famous-street/

Have you ever considered buying a home in Miami? Check out the most popular neighborhoods here – https://www.niche.com/places-to-live/search/best-neighborhoods/m/miami-metro-area/

I would have ranked Coconut Grove a bit higher. I do love Brickell. Wynwood is fun. Definitely an up-and-coming neighborhood. Coral Gables is beautiful and anchored by The University of Miami.

What neighborhoods interest you? Why? Tell us what you love about them.

I have borrowers shopping for a home on “the Big Island”. In an effort to be prepared, they have started shopping for homeowners insurance. Insurance seems to be a bit more complicated in Hawaii based on topography, proximity to bodies of water and lava zones.

I would love some insight from realtors or insurance professionals. What does a homeowner need to be aware of during this process?

So often when you think of Las Vegas you think of casinos, restaurants and entertainment venues. On first glance, Las Vegas does not feel very family friendly. The truth is there are many family friendly neighborhoods offering great schools and activities. The job market is strong and property values are good. Niche list of neighborhoods can be found here – https://www.niche.com/places-to-live/search/best-neighborhoods-for-families/m/las-vegas-area/

Hartford-West Hartford is projected to be one of the hottest housing markets for 2023. What do you love about the area? Link to an interesting article below –

https://www.usatoday.com/story/money/personalfinance/real-estate/2022/12/07/hottest-real-estate-markets-2023/10837578002/

Southern Living just voted Athens Georgia the South’s best college town. Home to the University of Georgia, and their beloved mascot UGA the bulldog, Athens has it all. Night life, restaurants, a healthy economy and beautiful homes. If Athens is your home, what do you love about it? I would love some feedback from local realtors as well as residents.

https://www.southernliving.com/travel/georgia/athens-ga

Does Tennessee cap borrower paid compensation at 2%? Never heard of a state allowing 2.75% Lender Paid comp at 2.75% but lower on borrower Paid yield spread premium.

Can someone explain to me how and why our nation’s capital has such a high crime rate? They cannot even get their own backyard cleaned up and they want to reach out and touch other states.

South Korean Global tech giant Samsung announced Taylor Texas will be home to Samsung’s U.S. semiconductor factory. The breaking announcement puts Taylor Texas on the global map.

https://youtube.com/playlist?list=PLnxykQ4xCbXu9EHcKzr0XqZioCz2CsDfI&si=mPANQR1Bv3ytMvAR

No with former President Donald Trump getting convicted on all 34 charges against him, how is the conviction of President Trump going to affect the state of NEW YORK?

What determines rural living? Being raise in NYC anything with a lawn was rural. Suburbia was the country to me. When I moved west and worked in vineyards I got a better idea. I can sum it up in two words. “Dirt Road” unsaved, pebbles is my definition, and a septic tank.

• This discussion was modified 1 week, 2 days ago by  Sapna Sharma.

California is facing a severe housing inventory shortage despite high rates, soaring inflation, and Californians fleeing the liberal state. Read this informative article by Sarah Wu

https://gustancho.com/california-facing-housing-shortage/

Remember when Elon Mosk declared war against California Governor Gavin Newsom and said he was going to move Tesla to Austin Texas. Well, Tesla moved to Texas and thousands of Tesla workers packed up their belongings and families and moved to Austin Texas. Austin Texas housing market has been on fire and appreciated like never before. Now with electric car market in the dumps and Tesla Motors in financial crisis and laying off thousands of workers, the Austin Texas housing market is in trouble. There are thousands of Taxpayers fleeing Austin Texas like never before. Texas home prices are tanking. Just in the past few months, homes in AUSTIN plummeted by 20%. Rents on studio apartments plummeted 17% last months. Many Tesla laid off workers can’t afford their homes in Texas. This is a developing story folks. More to come.

https://youtube.com/shorts/DehQ-qUyNWU?si=kUF03oeQ4s1esUpX

With all the political chaos going on among the far left with transporting illegal immigrants to NYC and surrounding suburbs, increasing local, county, and state taxes, creating many rules and regulations, New York had a flood of taxpayers flee New York to other low taxed cities and states. Now with the conviction of former President Donald Trump, many economists and political science scholars are forecasting millions of taxpayers and businesses will be leaving New York to other family and friendly states. If politicians can go after a former President of the United States and his family, New York politicians can do the same to an average Joe. Tens of thousands of taxpayers and businesses have already left New York. After yesterday’s news of former President Donald Trump being found guilty of 34 felony charges, it’s going to backfire on New York.

New York can soon become a ghost 👻 town. Stay Tuned, FOLKS.

“Okay class, simmer down, simmer down, this weekend’s reading assignment will be pages one through fifty in “To Kill a Mockingbird.” Yes, Jimmy, you have a question?” Yes’m ma’am, my momma and daddy won’t let me read that book.” Why replied the teacher? “ It’s offense to my parents, it uses the N word.” Jimmy, go home and tell you parents it’s supposed to offend us. Banning books is like banning history, oh wait they want to change that, too because it offends people. You know what happens if you start banning books? Your freedom is challenged. First Mockingbird, next Huck Finn, and maybe the Bible, who knows? American Literature is a history lesson. When John Steinbeck wrote, “Of Mice and Men,” he depicted the era of Depression. Where else would we get a first hand lesson by an eye witness of the Depression. Not many people are still alive to talk about it. Was there a lesson? When Atticus Finch states, “ you will never know a person until you walk in their shoes.” Yes, a big lesson about racism. Huck Finn befriends Jim a slave. Message? Mockingbird and Huck Finn are called, “coming of age,” novellas. When a child starts on one path and sees the other path. A story of personal growth. Mockingbird, similar genre, only he is an adult. An attorney who finally debates racism. They don’t write them like that anymore. There are lessons people refuse to see. You can’t ban books, you are giving up your First Amendment. Next they will ban, “Old Man and the Sea,” because of animal cruelty. He killed a marlin. Oh, wait, the message, did he really kill a marlin? Or was their some other meaning to the story.

John Steinbeck was perhaps the finest American writer, he wrote about the struggles during the Great Depression. He was able to write humor, “Travels with Charlie.” Who do you enjoy reading?

Do counties in Illinois require building permits to build an in-law suite or accessory dwelling unit on your property?

Do counties in Florida require permits to build an ADU or tiny home in Florida? From what I heard accessory dwelling units and tiny houses can be built on private property as long as they meet the zoning and building codes of the specific local jurisdiction. Some counties and municipalities have specific regulations for tiny houses, including minimum square footage requirements and foundation specifications.

• This discussion was modified 2 years, 3 months ago by  Gustan Cho.

I own a property on five acres in Austin and I was thinking of building an accessory building unit on my property to use as an in-law suite or ADU for additional rental income. Can I build a tiny house or ADU on my property in Texas WITHOUT a building permit and a bunch of red tape??

Want to share my thoughts and prayers for all Californians and wish them all a wonderful, safe, fun, and very Merry Christmas with the exception of the very few demons 😈

Here are some key facts about Nevada: Nevada is a state located in the western United States. Its capital and largest city is Carson City. Major cities include Las Vegas, Reno, Henderson, and North Las Vegas. Nevada is the 7th largest state by area but one of the most sparsely populated. Most of the state’s terrain consists of desert and semi-arid landscapes. It is part of the Mountain West region of the U.S. The Mojave Desert covers much of southern Nevada. Nevada is best known for its gambling, entertainment and tourism industries centered around Las Vegas. Other major industries include mining, logistics, and renewable energy. Notable geographic features include Lake Mead, the Hoover Dam, Red Rock Canyon, Valley of Fire State Park, and Great Basin National Park. Native American tribes have inhabited the area for thousands of years. Nevada became the 36th state admitted to the Union in 1864. Top institutions of higher education include the University of Nevada, Las Vegas and the University of Nevada, Reno. Let me know if you need any other details about the history, culture, economy or attractions in the state of Nevada. Gambling in Nevada: Nevada is famous for its legalized gambling and is considered the gambling capital of the United States. Here are some key points about gambling in Nevada.

Gambling was legalized in Nevada in 1931, when the state passed a law allowing gambling establishments. This move helped bolster Nevada’s economy during the Great Depression.

Las Vegas is the gambling mecca, home to lavish casino-resorts like the Bellagio, MGM Grand, Caesars Palace, and the Venetian. The Las Vegas Strip is an iconic destination for gambling. Reno is another major hub for casinos and gambling, known as “The Biggest Little City in the World.” In addition to slot machines and table games like blackjack, roulette and craps, Nevada casinos offer sports betting, poker rooms, and racebooks for betting on horse races. Nevada’s lenient regulations on gambling have allowed the state’s casinos to experiment with new games and gambling formats over the years. Gambling tax revenues are a critical part of Nevada’s economy and state budget. In fiscal year 2022, gambling taxes provided over $1 billion to state coffers. While Nevada is famous for its mega casino-resorts, there are also many smaller local casinos and gambling halls across the state. Native American tribes have also opened casinos on tribal lands in Nevada in recent decades. So in summary, legalized gambling, pioneered in Nevada, has become a pillar of the state’s identity, economy and tourism draw.

• This discussion was modified 2 years, 3 months ago by  Lisa Jones.
• This discussion was modified 2 years, 3 months ago by  Gustan Cho.
• This discussion was modified 2 years, 3 months ago by  Sapna Sharma.

Making Nevada your home can be an exciting endeavor, as the state offers diverse living experiences from the bustling city life of Las Vegas to the serene landscapes of its desert and mountain areas. Whether you’re moving for work, retirement, or a change of scenery, here are some steps and considerations for settling in Nevada:

1. Choosing the Right Location

• Urban vs. Rural: Decide if you prefer the vibrant city life of places like Las Vegas or Reno, or the quieter, more rural areas such as Elko or Fallon.
• Climate: Nevada is mostly desert, which means hot summers and cold winters, particularly in regions away from the city.

2. Understanding the Cost of Living

• Nevada generally offers a reasonable cost of living compared to other states. However, areas like Las Vegas and Reno might be more expensive than the state’s rural areas.
• There’s no state income tax, which can be a significant financial benefit.

3. Housing

• Buying vs. Renting: The housing market can vary significantly by location. In cities, the real estate market can be competitive and pricey, while more rural areas may offer more affordability.
• Research: Check real estate listings and consider visiting neighborhoods to get a feel for different areas.

4. Employment Opportunities

• Major industries in Nevada include hospitality and gaming, technology, logistics, and manufacturing. The state is also seeing growth in green energy jobs.
• Las Vegas and Reno are hubs for entertainment and tourism-related jobs, but tech industries are expanding in these areas as well.

5. Education

• Nevada offers a range of educational institutions, from public schools to prestigious universities like the University of Nevada campuses in Las Vegas and Reno.
• Research schools in your area if education is a consideration.

6. Lifestyle and Recreation

• Nevada is known for its entertainment options, particularly in Las Vegas. However, outdoor enthusiasts will also find skiing, hiking, and boating opportunities.
• The state hosts several cultural events, sports activities, and public parks which are great for families and individuals alike.

7. Transportation

• In larger cities like Las Vegas and Reno, public transportation systems are available. However, owning a car is beneficial, especially in more isolated areas.
• Nevada provides good highway connectivity, and its rules and regulations for driving might differ slightly from other states, so it’s good to get familiar with them.

8. Legal and Administrative Steps

• Upon moving, you’ll need to update your driver’s license and vehicle registration if coming from out of state.
• Register to vote in your new home state to participate in local, state, and federal elections.

9. Connecting with the Community

• Join local groups or community centers to meet people and get integrated into the fabric of the local culture.
• Explore local businesses and support them to get a deeper understanding of your new home’s economy and culture.

Moving to a new state like Nevada involves significant planning and adjustment, but it can also be a rewarding experience with new opportunities and adventures.

Moving to Nevada from out of state can be an exciting opportunity, whether for its vibrant entertainment options, its growing economy, or its unique landscapes. Here are some key considerations and tips to help you prepare for your move:

Climate and Geography

• Varied Climate: Nevada is largely desert and semi-arid, most of the state falls within the Great Basin. Summers can be extremely hot, especially in areas like Las Vegas, while winters can be quite cold, especially in northern parts like Reno.
• Outdoor Activities: Nevada offers a range of outdoor activities, from the nightlife of Las Vegas to the stunning natural beauty of areas like Lake Tahoe and the Great Basin National Park.

Cost of Living

• No State Income Tax: Nevada does not have a state income tax, which can be a significant financial benefit.
• Housing Costs: The cost of living can vary significantly depending on where you choose to live. Las Vegas has a relatively affordable housing market compared to major cities in neighboring states, though prices have been rising. Reno also sees higher housing costs due to its proximity to California and growing economic developments.

Job Market

• Tourism and Hospitality: The economy is heavily influenced by tourism and hospitality, particularly in Las Vegas, which offers numerous jobs in hotels, restaurants, and entertainment sectors.
• Diversifying Economy: There’s a growing presence of tech companies and startups, especially in the Reno area, partly due to its proximity to Silicon Valley and more favorable business taxes.

Education

• School System: Nevada’s public school system has room for improvement in terms of national rankings, so research local schools thoroughly if you have children.
• Higher Education: The state is home to several higher education institutions, including the University of Nevada campuses in Las Vegas and Reno.

Transportation

• Car Dependency: Most of Nevada’s residents find having a car necessary, especially in Las Vegas and Reno, due to public transportation options being less extensive than in larger metropolitan areas.
• Major Highways: Interstate 15 and Interstate 80 are the major highways running through Nevada, facilitating travel to California, Utah, Oregon, and Idaho.

Legal Residency

• Driver’s License and Vehicle Registration: You’ll need to obtain a Nevada driver’s license and register your vehicle within 30 days of becoming a resident.
• Voter Registration: Registering to vote can also be done at the same time you apply for your new driver’s license.

Cultural and Social Life

• Diverse Communities: Nevada’s major cities are culturally diverse, offering a wide range of cultural foods, festivals, and more.
• Entertainment Options: Besides the obvious attractions of Las Vegas, there are numerous local events, museums, theaters, and concert venues across the state.

Preparation for the Move

• Plan Ahead: Organize your belongings, decide what to move, and possibly sell or donate items that are not essential.
• Hire Reliable Movers: Consider hiring a reputable moving company that has experience with interstate moves to handle logistics.

Moving to Nevada offers a unique blend of opportunities and lifestyles, from the bustling streets of Las Vegas to the serene landscapes of its state parks. With the right preparation, your transition to the Silver State can be a smooth and exciting adventure.

I am interest in buying a single family house in California. I got pre-approved in 2019 in Placer County California which is near Sacramento. However, home prices have gone up and mortgage rates are double the rate it was in 2019. How can I shop for the best mortgage rates in California?

Poor rookie firefighter 🚒 hired from Miami as a probationary fire fighter recruit in Wisconsin.

https://www.facebook.com/share/r/qjMHyQ9dGSLDMhAd/?mibextid=nnhLG8

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Thought this classic was fitting #stealthperformance #powerstroke #cummins #duramax #diesel #diesellife #dieselbrothers #ford #truck #chevy #dodge #dieselnation #dieselpower #trucknation #teamdiesel #powerstrokediesel #powerstrokenation | Stealth Performance Products | Lil Wayne · Mrs. Officer (Album Version (Edited))

Thought this classic was fitting #stealthperformance #powerstroke #cummins #duramax #diesel #diesellife #dieselbrothers #ford #truck #chevy #dodge #dieselnation #dieselpower #trucknation...

Have you ever thought moving to Florida is a fantasy come true? Many of you remember when someone mentions FLORIDA, the Sunshine State comes to mind. Disney World, Epcot Center, beautiful beaches, sun tans, beautiful women, great weather 12 months of the year, boating, jet skiing, outdoor kitchens, great restaurants, great job opportunities, and opportunities. So have you still eyeing and dreaming moving to Florida and buying your dream home? Are you planning on selling your home and buying your forever home in Florida? Are you planning on quitting your job in your current state and finding a new career in Florida?

Whether buying a house in Florida is a great investment depends on various factors such as the local real estate market conditions, your financial situation, your investment goals, and your risk tolerance. Here are some considerations to keep in mind:

1. Market Trends: Research the current trends in the Florida real estate market. Look at factors such as home prices, inventory levels, and demand. Historically, Florida has been known for its strong real estate market due to factors like warm weather, tourism, and population growth.

2. Location: Location is crucial in real estate. Certain areas in Florida may have higher demand and potential for appreciation compared to others. Consider factors such as proximity to amenities, schools, transportation, and job opportunities.

3. Rental Market: If you’re considering buying a property for investment purposes, evaluate the rental market in the area. Florida has a significant tourist industry, so vacation rentals might be an option in certain areas. Additionally, long-term rental demand can vary depending on the local economy and job market.

4. Financial Considerations: Evaluate your financial situation and whether buying a house aligns with your long-term financial goals. Consider factors such as your down payment, mortgage rates, property taxes, insurance costs, and potential rental income if you plan to rent out the property.

5. Maintenance and Management: Owning a property entails ongoing maintenance and management responsibilities. Factor in the costs associated with property upkeep, repairs, and potential property management fees if you don’t plan to manage the property yourself.

6. Risk Factors: Real estate investments carry risks, including market fluctuations, economic downturns, natural disasters, and regulatory changes. Consider your risk tolerance and diversify your investment portfolio accordingly.

7. Consult Professionals: It’s advisable to consult with real estate agents, financial advisors, and legal experts who are familiar with the Florida market and can provide personalized advice based on your specific situation.

While Florida real estate can be a great investment under the right circumstances, it’s essential to conduct thorough research and consider various factors before making a decision. The cost of living in Florida can vary depending on the city or region you’re considering. Generally, Florida is known for having a relatively affordable cost of living compared to some other states in the U.S. However, specific factors such as housing, healthcare, transportation, and groceries can significantly impact the overall cost.

Here are some general considerations:

1. Housing: Housing costs can vary greatly depending on whether you’re in a major city like Miami or Orlando versus a smaller town. In cities like Miami or Tampa, housing costs tend to be higher compared to smaller towns or rural areas.

2. Utilities: The cost of utilities such as electricity, water, and heating/cooling can also vary depending on the location and the size of the property.

3. Transportation: Florida is a state where having a car is often necessary due to limited public transportation options in many areas. The cost of owning a car, including gas, insurance, and maintenance, should be factored into your budget.

4. Groceries and Dining: The cost of groceries and dining out can vary depending on your location and lifestyle preferences.

5. Healthcare: Healthcare costs can vary depending on factors such as insurance coverage, healthcare providers, and specific medical needs.

6. Taxes: Florida is known for not having a state income tax, which can be advantageous for residents. However, there are other taxes to consider such as sales tax and property tax.

It’s important to research and consider these factors based on your specific situation and the location within Florida where you plan to live. Additionally, using cost of living calculators available online can help you estimate your expenses more accurately based on your lifestyle and preferences.

Florida offers a diverse range of career opportunities across various industries due to its thriving economy, tourism, technology sectors, and favorable business climate. Some prominent industries and career opportunities in Florida include:

1. Tourism and Hospitality: With famous attractions like Walt Disney World, Universal Studios, and beautiful beaches, Florida has a vibrant tourism industry offering jobs in hospitality, hotel management, entertainment, and event planning.

2. Healthcare: Florida has a large population of retirees and tourists, driving demand for healthcare services. Opportunities exist for healthcare professionals such as nurses, physicians, medical assistants, and healthcare administrators.

3. Technology and Aerospace: Florida is home to several technology companies, particularly in aerospace and aviation. With NASA’s Kennedy Space Center, Cape Canaveral Space Force Station, and a growing tech hub in cities like Miami and Orlando, there are opportunities in aerospace engineering, software development, cybersecurity, and data analytics.

4. Finance and Banking: Major financial institutions have a presence in Florida, particularly in cities like Miami and Tampa. Career opportunities exist in banking, investment management, financial analysis, and accounting.

5. Real Estate: Florida’s growing population and attractive climate make it a hot spot for real estate development. Careers in real estate include real estate agents, property management, appraisers, and construction management.

6. Education: With numerous universities, colleges, and public school districts, there are opportunities in teaching, administration, curriculum development, and educational technology.

7. Agribusiness: Florida is a leading producer of citrus fruits, vegetables, and other agricultural products. Career opportunities include farming, agricultural management, food processing, and agricultural research.

8. Maritime and Logistics: With extensive coastline and ports, Florida is a hub for maritime trade and logistics. Career opportunities include port management, logistics coordination, shipping, and freight forwarding.

9. Creative Industries: Florida has a burgeoning arts and entertainment scene, particularly in cities like Miami, Orlando, and Tampa. Opportunities exist in film production, advertising, graphic design, and performing arts.

10. Environmental and Renewable Energy: Given its unique ecosystem and concerns about climate change, there are opportunities in environmental science, conservation, renewable energy, and sustainability initiatives.

These are just a few examples, and the job market in Florida is continually evolving. The specific career opportunities available will depend on factors such as location, qualifications, experience, and industry trends. Networking, researching companies, and staying updated on job listings are essential for finding suitable career opportunities in Florida.

The Florida housing market has capped at its peak in 2022. If you are thinking about moving to Florida, please think again.

https://www.youtube.com/watch?v=9ONQo6BmfvY

Illinois is losing taxpayers by the tens of thousands. People who lived in the state for generations are calling it quits and planning on relocating to another low tax taxed with affordable housing and a lower cost of living. Many Illinoisians have no choice but to live in Illinois because of careers, family, or because they call Illinois home no matter how bad the state of the economy is. Chicago is one of the most beautiful cities in the world if not the most beautiful. In this sub-forum, I like to cover why are people fleeing Illinois and what the opinions of our viewers are where we can save this great state from going further down hill. Here is an article recently updated on the state of economy of Illinois.  Here is the link Why Are People Fleeing Illinois?

Can the Dengue Fever be the next coronavirus outbreak? Is the Dengue Fever the next bioweapon that is going to derail the 2024 elections? This Fever is beginning to break out in Puerto Rico 🇵🇷 and there is no cure.

https://www.msn.com/en-us/health/other/puerto-rico-declares-dengue-fever-epidemic-amid-spike-in-cases/ar-BB1kDJx5