There is no stopping California! Per RealEstate.com, 5 of out 10 cities for Best Value Appreciation for 2013 are in the Sunshine State. The Bay Area is sitting pretty at 3rd place (San Francisco, Oakland & San Jose). I can personally attest the market is completely bonkers. Multiple offers, overbids, all cash, it's like it's 2007 all over again. The difference this time is that it's not based on "Liar Loans", subprime mortgages and zero downpayments! When people are putting down 20% to call cash, they ain't gonna just walk away! They got skin in the game. They stay to play! What do you think?
Nene models a gown made of real moola!
About quarter to a 1/3 of my deals were all cash last year. Apparently, that's the norm...at least in California. Housing Wire reports that over 30% of the homes sold in 2012 were purchased with cold hard cash! 145,797 to be exact. Compare that to the peak of the market in 2007, when only 39,731 were all cash.
I've blogged a bit about 'Rent To Own' (especially about Bravo TV Housewives Kim Zolciak & Adrienne Maloof). Glad CNBC asked me to weigh in on this phenomenon for their article Rent to Own Homes: an Option to Consider? Generally speaking, I dont' think it a great option but sometimes it can be a last resort for certain people desperate to get into a certain area. What do you think, guys? Pros/cons?
"Renting to own is also a way to get into a desired neighborhood in a timely matter, as with parents who need to be in school district for their kids, or people who are uncertain of their timeline, according to San Francisco real estate professional Herman Chan. "It's a way to get into a house without committing to a 30 year mortgage," he said."
Ashley Madison, the infamous hook up site for married people seeking affairs, posted the top 10 cheating neighborhoods in San Francisco. SF Weekly reports: "San Francisco is a great place to have an extramarital affair, especially in the wealthy enclaves of the city, where you are most likely to find a cheating spouse". Hoity Toity Pac Heights, Fidi, & Marina Districts lead the pack. But you can't just blame the men. I know a whole lotta females who vulture these 'hoods hoping to marry up too! Just sayin'
New National Association of Realtors survey says single people are screwed. "The continued growth in married couples as single buyers shrink demonstrates that households with dual incomes are more successful in obtaining a mortgage." What are us lonely single gals supposed to do? We can't compete. Unless we marry up, is there any hope?!