ReportWire

Tag: real estate

  • California back as world’s 4th largest economy

    California has regained its bragging-rights ranking as the world’s fourth-largest economy.

    Using gross domestic product as the scorecard, my trusty spreadsheet compared fresh state-level data for the third quarter of 2025 from the Bureau of Economic Analysis with 2025 business output estimates for countries compiled by the International Monetary Fund, released in October.

    In the third quarter, California’s economy produced goods and services at a nation-leading annual rate of $4.296 trillion – a 4.5% increase from the previous year, according to the BEA. That was up from the second quarter’s $4.215 trillion rate.

    Only the U.S. ($31 trillion), China ($19 trillion), and Germany ($5 trillion) had larger business output last year, according to the latest tallies.

    California’s revised GDP pace pushed it ahead of Japan’s $4.28 trillion economy – but by just $16 billion. Japan had previously reclaimed the world’s No. 4 spot, surpassing California, according to the IMF’s October update of GDP results.

    GDP is a broad measure of the production of goods and services, often treated as a sign of economic health and a yardstick for comparing economies.

    This somewhat complicated economic number has become political buzz in the state. California’s business stature appears lofty when its output is compared to other nations through the lens of GDP, measured in U.S. dollars.

    But currency is a wildcard in the ranking math. The American dollar has been weak for the past year, which may help California’s global “rivals” on this scorecard when the IMF’s next update comes out in April.

    It’s a tight race for the world’s No. 4 economy. According to IMF data, just behind Japan and California is India, with an economy worth $4.125 trillion in 2025. Then there’s the United Kingdom at $3.96 trillion.

    So, roughly $300 billion – a 7% gap – separates these three countries from California on this vanity scoreboard. It’s likely that India’s fast-growing economy, powered by the world’s No. 1 population, will soon take over the No. 4 ranking.

    California reached the No. 5 global ranking in 2017 and moved up to No. 4 in 2024 after a long downturn in the Japanese economy.

    Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

    Jonathan Lansner

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  • Research Reports & Trade Ideas – Yahoo Finance

    Technical Assessment: Bullish in the Intermediate-Term

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  • NAR issues first Annual Report  – Houston Agent Magazine

    NAR’s 2026-2028 Strategic Plan.

    The National Association of REALTORS® released its first Annual Report, which details progress the organization says it’s made in accomplishing the 24 goals of its 2026-2028 Strategic Plan, with a particular focus on transparency, broker engagement, financial discipline and legal risks. 

    The 80-page document also explains NAR’s next steps toward fulfilling the initiatives it laid out last year after gathering feedback from members through meetings, surveys and focus groups. 

    “While we have a long way to go in realizing our full vision for NAR, I hope you can appreciate the work we have done to build the foundation for NAR to better serve our members and the industry,” said NAR Immediate Past President Kevin Sears. “We have passed consecutive balanced budgets without raising dues, made our initial payment in compliance with the Sitzer-Burnett settlement terms and identified millions of dollars in savings through a strategic reexamination of our budgets, including our consumer ad campaign strategy and event planning processes. These are just the first steps in setting us up for long-term financial wellness.”  

    Among the most significant changes made so far was dropping the requirement that real estate agents join Realtor associations to access their local MLS. Instead, NAR has left that decision up to local MLSs. 

    The move follows the Sitzer-Burnett antitrust case, which NAR settled or $418 million in 2024. A Missouri jury determined NAR rules forced sellers to pay buyer agent commission in violation of antitrust law. NAR also agreed to bar offers of broker compensation on MLSs and require buyer agents to sign written buyer agreements before touring a home. 

    The report spends a good deal of time laying out NAR’s value proposition to members, noting the new Metro Market Statistics Dashboard, which provides localized market data, and the integration of AI into the Realtors Property Resource. NAR said it provided $1.35 million in free tools and education through its Member Value Plus program and $1 million of free and discounted products through its Right Tools, Right Now program. 

    NAR also took steps to protect the Realtor brand, the report states. These include creating the association’s first dedicated team of in-house trademark attorneys, implementing a seven-stage brand-protection strategy and “proactively educating media outlets about the difference between a REALTOR® and a real estate licensee” through the daily monitoring of news stories for incorrect usage of the Realtor term. 

    The report also outlines steps the association took to get its financial house in order, such as appointing a new CFO, hiring a new audit firm and conducting a top-to-bottom review of its finances “in a post-settlement era.” The report notes that NAR cut its budget expenses by $50 million and reduced its staff headcount by 14%. 

    The report highlights steps NAR has taken to advocate for its legislative priorities, including the promotion of housing affordability, tax incentives and the modernization of capital gains tax law. 

    “This Annual Report represents NAR’s most transparent and comprehensive update on our progress and priorities,” NAR CEO Nykia Wright said. “We’ve sought to provide a deep look at each initiative in the Strategic Plan, including how we made progress towards our commitments in 2025 and how we will seek to implement each initiative in 2026.” 

    John Yellig

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  • Nassau and Suffolk real estate law firms: Long Island’s leading property attorneys ranked | Long Island Business News

    Forchelli Deegan Terrana leads Long Island‘s real estate law firms with 58 attorneys working from The Omni building on Earle Ovington Boulevard in Uniondale. Jeffrey Forchelli serves as chairman and co-managing partner alongside John Terrana as co-managing partner.

    Cullen and Dykman follows with 56 attorneys, operating from the same street address under Managing Partner Christopher Palmer.

    Certilman Balin Adler & Hyman ranks third with 47 attorneys based on Merrick Avenue in East Meadow. Howard Stein heads the firm as managing partner.

    Twomey, Latham, Shea, Kelley, Dubin & Quartararo employs 31 real estate attorneys in Riverhead on West Second Street. Christopher Kelley, Jay Quartararo, John F. Shea III, and David Dubin operate as senior partners.

    Farrell Fritz maintains 30 attorneys within its Real Estate practice at RXR Plaza in Uniondale under Managing Partner Robert Creighton. Rivkin Radler has 25 real estate attorneys working from the same plaza with Evan Krinick as managing partner.

    Greenberg Traurig operates with 19 practice area attorneys from Stewart Avenue in Garden City. Richard Rosenbaum serves as executive chairman, with John McEntee and Brian Doyle as co-managing shareholders for the office.

    The rankings extend to firms with four attorneys. The Bartol Law Firm; Campolo, Middleton & McCormick; Lewis Johs Avallone Aviles; Meister Seelig & Fein; Pezold, Smith, Hirschmann & Selvaggio; Russo, Karl Widmaier & Cordano; Simmons Jannace Deluca; Stagg Wabnik Law Group; Tashlik Goldwyn Levy; and Vishnick McGovern Milizio each employ four attorneys practicing real estate law across Nassau and Suffolk counties.

    Go to LIBN’s Leads and Data Center to download the complete the Real Estate Law Firms list or any other LIBN list. Subscribe to LIBN’s Leads and Data to gain year-round access to the data from LIBN’s lists.

    Forvis Mazars is the Premium Sponsor of LIBN’s 2026 Book of Lists.

    Moritt, Hock & Hamroff LLP is the Chapter Sponsor for the Law Firms chapter in LIBN’s 2026 Book of Lists.

     

    Claude.ai assisted with the creation of this article based on LIBN data.

     


    Regina Jankowski

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  • The Forgettable Kitchen Detail That Could Be Decreasing Your Home’s Value, According to Real Estate Agents

    We independently select these products—if you buy from one of our links, we may earn a commission. All prices were accurate at the time of publishing.

    It may not be a million-dollar question, but it is one worth at least a few thousand that you may want to ask yourself if you’re a homeowner: Is there anything in your kitchen that could potentially be bringing down your entire home’s value? I spoke to a few real estate pros to find out.

    “I wish it were that easy to say this one thing is killing your home value … but that’s not the case,” says Coldwell Banker’s Ariel Baverman, one of Atlanta’s most accredited and top-producing Realtors. “But obviously, kitchens are one of the most important aspects of a home,” she says, noting they’re a key area of focus when it comes to determining a fair sale price for a property.

    Unfortunately, as Lisa Graff, an award-winning real estate salesperson for Houlihan Lawrence, notes, the kitchen’s size and layout are the biggest factors affecting a home’s value, which are harder and pricier to change. Jen Barnett, broker and owner at The Front Agency, agrees that the features that are “directly detrimental to the overall comparable market value are larger problems in layout and design.” Of course, these issues can’t be easily or quickly fixed — but there are plenty of things affecting the home’s value that can.

    The Features Decreasing Your Home’s Value, According to Real Estate Agents

    While a pricey remodel isn’t usually something a homeowner can immediately rectify, nor should they have to — the good news is that there are some cosmetic improvements that are much easier fixes than a kitchen floor plan overhaul. Here’s what the experts said could be decreasing your home value:

    1. Era-Specific Materials

    One of the first questions Baverman asks when evaluating a kitchen is if it’s been updated recently, or within the last five to 10 years. This is often the median range where appliances and features are in good condition and not noticeably of a different era. Conversely, “fluorescent light fixtures, hunter orange laminate countertops, or avocado green linoleum flooring,” Barnett points out, clearly indicate that the kitchen is “significantly dated,” clearly harkening to the ’70s, which “could make the home less desirable in the eyes of buyers.” 

    Countertop materials are often dead giveaways that the kitchen hasn’t gotten enough TLC from its owners, and that’s not limited to just laminate material. “Tiled or busy countertops, particularly in darker granite, are undesirable, as they can be expensive to replace, especially if there’s an island to consider,” Graff says. “People want more harmonious, quieter kitchens, or a bold color with veining that packs a punch for a luxurious, elevated feel. Busy granite feels tired and dated.”

    Although appliances aren’t part of the structural bones of a kitchen, many house hunters will fixate on them and let these big-ticket items sway their buying decision. Baverman often asks and lists the age of the appliances if it’s favorable. Graff notes that color choice is often a good immediate indicator.

    “Generally, black appliances are out,” Graff says of kitchens in 2025. “White appliances — unless it’s an all-white kitchen — can also give an outdated feel. Harvest gold stoves are out. Older burners on islands with fans overhead have to go as well, as they divide a kitchen and are awkward.” 

    She places room-dividing exhaust as the same kind of faux pas as cabinets above an island, as they both “obstruct sight lines and make a kitchen feel claustrophobic,” which is the last thing someone toiling in the home’s biggest workhorse of a room wants to feel. Barnett agrees, adding that “kitchens that are cramped for space and only comfortably allow one person working at a time tend to isolate the cook.”

    “This may be unrelated to value, but one of my pet peeves is when there are too many different floors from one viewpoint, especially if they clash,” says Baverman, who recommends having no more than three types of flooring visible at a time. Mixing up different floor types and patterns can seem slapdash, hint at piecemeal repairs (and bigger problems), and also make spaces feel both disjointed and smaller, she adds. 

    While Baverman advises stone, wood, and tile as optimal kitchen flooring materials, Graff says that for the latter, grout color is also very important: “Lighter colored flooring with dark grout can appear dirty.” Additionally, “Other things that give ‘ick factor’ are cracked floor tiles. No one wants to inherit a seller’s problems and have to replace floor tiles right off the bat!” While that may sound like a larger project, if you have the original tile on hand, it’s often relatively inexpensive to have a professional tiler replace only a few at a time without having to redo the floors. 

    Leave any of these features as-is, and you risk them coming up at the negotiation table as a reason for a discount on the list price, bringing down your home’s overall value. But if you’re not looking to sell anytime soon and you love your space, enjoy it, because you’re the only one who matters!

    What do you think about these value-decreasing factors? Let us know in the comments below!

    Su-Jit Lin

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  • Trump’s voice in a new Fannie Mae ad is generated by artificial intelligence, with his permission

    NEW YORK — What sounds like President Donald Trump narrating a new Fannie Mae ad actually is an AI-cloned voice reading text, according to a disclaimer in the video.

    The voice in the ad, created with permission from the Trump administration, promises an “all new Fannie Mae” and calls the institution the “protector of the American Dream.” The ad comes as the administration is making a big push to show voters it is responding to their concerns about affordability, including in the housing market.

    Trump plans to talk about housing at his appearance at the World Economic Forum in Davos, Switzerland, where world leaders and corporate executives meet this week.

    This isn’t the first time a member of the Trump family has used AI to replicate their voice, First Lady Melania Trump recently employed AI technology firm Eleven Labs to help voice the audio version of her memoir. It’s not known who cloned President Trump’s voice for the Fannie Mae ad.

    Last month, Trump pledged in a prime-time address that he would roll out “some of the most aggressive housing reform plans in American history.”

    “For generations, home ownership meant security, independence, and stability,” Trump’s digitized voice says in the one-minute ad aired Sunday. “But today, that dream feels out of reach for too many Americans not because they stopped working hard but because the system stopped working for them.”

    Fannie Mae and its counterpart Freddie Mac, which have been under government control since the Great Recession, buy mortgages that meet their risk criteria from banks, which helps provide liquidity for the housing market. The two firms guarantee roughly half of the $13 trillion U.S. home loan market and are a bedrock of the U.S. economy.

    The ad says Fannie Mae will work with the banking industry to approve more would-be homebuyers for mortgages.

    Trump, Bill Pulte, who leads the Federal Housing Finance Agency, and others have said they want to sell shares of Fannie Mae and Freddie Mac on a major stock exchange but no concrete plans have been set.

    Trump and Pulte have also floated extending the 30-year mortgage to 50 years in order to lower monthly payments. Trump appeared to back off the proposal after critics said a longer-term loan would reduce people’s ability to create housing equity and increase their own wealth.

    Trump also said on social media earlier this month that he was directing the federal government to buy $200 billion in mortgage bonds, a move he said would help reduce mortgage rates at a time when Americans are anxious about home prices. Trump said Fannie Mae and Freddie Mac have $200 billion in cash that will be used to make the purchase.

    Earlier this month, Trump also said he wants to block large institutional investors f rom buying houses, saying that a ban would make it easier for younger families to buy their first homes.

    Trump’s permission for the use of AI is interesting given that he has complained about aides in the Biden administration using autopen to apply the former president’s signature to laws, pardons or executive orders. An autopen is a mechanical device that is used to replicate a person’s authentic signature.

    However, a report issued by House Republicans does not include any concrete evidence that autopen was used to sign Biden’s name without his knowledge.

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  • Average US long-term mortgage rate hits the lowest point in more than 3 years

    By ALEX VEIGA, AP Business Writer

    MCLEAN, Va. (AP) — The average long-term U.S. mortgage rate is now down to its lowest level in more than three years.

    The Associated Press

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