| Habitat For Hermanity |
|
|
CNN Money says home buyers are priced out of the market: In cities like Las Vegas, San Francisco, San Diego, prices have climbed by as much as 20% or more in the past year, well above the national average of 13%, according to Case Shiller. Plus mortgage rates are up by nearly a point to 4.3%, so borrowers today are paying 25% more than they would have a year ago. Nationwide, about 35% of all offers were in cash in February, a nearly 30% increase from a year earlier, according to RealtyTrac. 
0 Comments
This new development of homes in Colorado are engulfed by a sea of tumbleweeds....and there ain't a thing they can do about it! How will they get out!? Scary! San Francisco Chronicle reports that a house under renovation has crumbled down Twin Peaks! Something is fishy. The owner is Mel Murphy, "a city port commissioner and a director of the Coalition for Responsible Growth, a political advocacy group funded largely by developers and others with real estate interests." Do you think he was allowed to cut corners?! UPDATE: Murphy dodged $15,000 in permit fees by lying to the City with a lowball construction estimate! Not fair!!
Innerestin' stuff! Realtor.com has compiled the cities that are making the most inroads to housing recovery:
It wasn't long ago when downtown LA was known as just Skid Row. It's recent renaissance has exploded the need for housing. Anyone know why it's mostly geared toward rentals, and not condos? It's like the opposite of SF, where people complain there aren't enough rentals. Planetizen breaks down the numbers: 
"A dearth of apartments is fueling one of the city's largest building booms in years," reports Dawn Wotapka. "There are about 14,000 apartment units in downtown Los Angeles. About 5,100 units are under construction, and more than 3,400 units were built between 2008 and 2013, according to Polaris Pacific, a real-estate sales, marketing and research firm. More than 3,000 additional rental units have been approved, with another 7,000 proposed. Meanwhile, there are only 17 condo units for sale and 68 under construction.
Just last year VISA moved out of San Francisco and into a suburban office park. Well now they are hankering to return! Apparently, who wants to commute or work in such a bedroom community when all your fellow techie friends are partying it up in the city, at Zynga, Twitter, Salesforce, Airbnb, etc!? VISA is on the prowl to lease space in SF to retain these millennial employees who know what they want. And they wanna live and work where all the cool kids are ...in SF!
Livability.com scores the top 100 cities across America as the best places to live and visit. Their criteria is based on housing, education, amenities, transportation/infrastructure, social/civic capital, health care & economics. Over 2 dozen cities in California made the list! Did your city make it?    Did you know it was against the law to be a real estate agent in Cuba?! That all changed recently when the Cuban government unbanned that job. All this time, can you imagine selling homes under the radar, under threat of arrest?! Its a tough enough job as it is. Hope our Cuban realtor friends can finally sell in the light!
Just another reason why being loaded is the pits! You got the bucks to spend, but there ain't nothin' to buy! Business Insider reports:
Census Says SF Full of OverEducated, Overseas, Overpaid Gays! (Not Necessarily In That Order Though)6/18/2013
Real Estate Is Back With a Vengeance! San Francisco Ranked #3 For Best Value Appreciation for 2013!5/8/2013 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?
 The house was foreclosed upon in November and was being prepared for sale, said Brad German, a spokesman for Freddie Mac....Ritter, the police spokesman, said that the unidentified gunman started making demands related to the house after taking the firefighters hostage. "The power was turned off along with the cable and cell phone and so on, and he wanted all those things turned back on," said Ritter, adding that "apparently he was going through some financial issues."  Man Whose House is Falling Off a Cliff Says "That's the price you pay for the marvelous view!"3/28/2013
Augusta Chronicle reports Laney Supermarket got evicted by SunTrust Bank. Instead of donating the food to the needy, the marshall trucked it away to the dump...right in front of people who really need a hand! Tsk tsk! Officials said onlookers became angry when they learned they would not be allowed to take away food and other sundries that were piled outside the grocery as “abandoned property....“There are people with babies who need diapers out here,” she said. |
As Seen On
Archives
February 2016
Categories
All
Blogroll
Real Estalker |
