In a flashback to the kind of homebuying frenzy not seen since 2008, house hunters have pitched a line of tents in Huntington Beach, Calif., in the hope of buying a brand-new home. Around a dozen pre-qualified homebuyers have literally set up camp by the still-under-constructionBrightwater Capri development in Huntington Beach -- and they've already been there for a week.
No Inventory, So Buyers Camp Out To Get 1st Dibs Like Rock Concert! Is This What the Market Has Come to?!
Desperate buyers line up to snap up 1,992 to 2,685 square feet new homes from $800k - $900k in Southern California. Will scalpers can get in on this?! More from AOL Real Estate:
With the market sizzling, CBS has me on this morning to talk real estate in San Francisco Hermanity-style. Enjoy!
Did you know that home inspections are not regulated by the state? It's kinda scary to know any Joe Schmo could call themselves a home inspector and advice you on the biggest purchase of your life. (Even I could claim I'm a home inspector...I can't hammer a nail to save my life! Gotta protect my Lee Press-Ons). To ensure you get a qualified inspector, make sure:
Let's say you are in the middle of buying a house, but find out mid-way that the place needs a new $50,000 foundation? You are under contract and might lose your deposit money! How do you avoid this mess? Be sure your purchase agreement has an inspection contingency period for you to do your due diligence. Without that clause, the seller might keep your deposit for damages if you try to back out. It can get nasty quick!
After searching high and low for your dream home, you can't keep it to yourself, right? You have to show off, er, I mean share it with your friends and family! Here are some of my ideas for eHow.com.
Gay Parent Magazine interviews me about real estate for the LGBTQ community. What's my #1 tip for gay/lesbian buyers? Why it's the Year of the Landlord? What about homophobic sellers? Any advantage to owning property as gay married couple? For my answers, click here for full issue (see pg 17). FYI, big file.
It's not just celebs like Elton John, Ricky Martin, Neil Patrick Harris, Rosie, etc. but I can't believe so many of my gay friends are poppin' out babies. Maybe I'll be next...if I ever find Mr. Right. Although I can't wait forever. At this rate, I might have to do it solo! I can't let these cheekbones go to waste!
Cash Buyers Squeezing Out Traditional Home Seekers (NPR), Cash Buyers Are 'Mopping Up Inventory' (Realtor Magazine), Cash Buyers Lift Housing (WSJ). Clearly, it's all about the Benjamin's! I can personally attest to this from my SF/Silicon Valley clients. The amount of dough in this area is unbelievable! As the main portal to Asia and mecca of tech industry, all cash offers are dominated by Asian and tech buyers. Who are the primary all cash buyers in your market?
I blogged last September about my friend Adam's company ClearHouse which offers un-biased pre-inspections. I'm a huge advocate of knowing the condition of a property upfront. It can save a deal from painful surprises & tense negotiations mid-transaction!
In 5 months, ClearHouse was not only written up on AGbeat.com ("ClearHouse adds transparency to home inspections, improves process"), but made their top 60 Genius Brands to Watch in 2012. And now they have just given a clean crisp make-over to their website with new videos and FAQ! Check it out. Kudos!