I'm sure sellers are tickled pink! Meanwhile the buyers are getting outpriced! What in blue blazes is going on?! Movoto breaks it down for us
Is This a Good or Bad Thing?! Prices Skyrocketed 47% in Sac, 32% in Oakland, 15% in SF in Just 1 Year!
Open House 'Frenzy' Caught on Tape! For Sellers, Its Like Winning the Lotto! For Buyers, There Ain't No Hope!
On the heels of International Women's day, a study by a Chicago non-profit was just released where they found gals are getting the screwed when it comes to loans!
Mortgage Discrimination Study Finds Women Received Fewer Approvals In Wake Of Crash :Chicago women who applied for a new home mortgage in 2010 were 24 percent less likely to obtain a loan than men, the study by the Woodstock Institute found. Lenders were 39 percent less likely to refinance a woman's existing mortgage, the study says.
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:
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 budget for staging? No prob. Just raid your closet! Fantabulous segment on Good Day Sacramento! I show TV host Julissa Ortiz how to make a darling pillow case from a knit mini-skirt! Upcycling is the hottest design trend! All you need is 1 yard of sticky back velcro, a pillow insert & any old miniskirt (or poncho , for you hefty girls). (Thank you to my designer BFF Rosalia for her help. Check out her new design site Rosaliart.net)
CNN Money reports the top 10 metro areas with rich folk! And California has 4 of the top 10 spots!
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.
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'
When shopping for that perfect couch, be careful! Try to stick to eco-friendly material...please!!
They found that 85 percent of 102 couches tested across the U.S. contained toxic or untested flame retardant chemicals -- at levels up to 11 percent the weight of the foam. The newer the couch, the more likely it was to be treated with the chemicals....[Couches] contains one of these alternative flame retardants, chlorinated Tris, now believed to be associated with health problems including cancer, hormone disruption and neurological problems.
We've always joked that pulling in 6 digits isn't saying much in San Francisco. With the high cost of living, it's like living a step about the poverty line. Well, I guess it's no joke. "National Assoc of Realtors is out w/ a report showing the qualifying income needed to buy a single family home in San Jose is currently $115,000 w/ 10% downpayment"...and that is San Jose, not even San Francisco!!
Market Value of White House Jumps 1.5% (Wait, White House Has a Market Value? That Don't Make No Damn Sense)
MarketWatch/Zillow reports "The value of the White House, for one, is better off that it was four years ago—and its future is also looking bright. Its current value is $284.9 million, an increase of 1.5% from the $280.8 million it was valued at in October 2008."
Research Group Slams Zillow: It’s Not Just the Ridiculous Valuation – it’s the Ridiculous Business Model
Your Edge...or Over the Edge?!
It's the company agents love to hate. Their Zestimates can have up to 20% margin of error, but that's not overtly explained to consumers. So, of course we realtors have to clean up their mess when sellers and buyers get confused by Zillow's inept values. Now, Citron Research has come out with a scathing report that clocks Zillow.com. Apparently their business model is bonkers. Read below!
From Citron Research:
When it comes to investing in Web 2.0 , the stampede is on – everybody wants a part of the Next Big Thing. The rewards have been great for companies like LinkedIn. But the risks of investing in anything less are devastating. The market has been unforgiving in punishing disappointers, as seen in recent collapses in Facebook, Groupon, Zynga Netflix and Pandora.
So what determines the difference?
Investible Web 2.0 companies have all of these critical success factors:
1) A new and disruptive way to use internet technology to meet a real market need
2) Exponential revenue growth driven by viral buzz, solidly founded on genuine customer loyalty
3) Soaring revenues free of heavy expense models – not dependent on overhead-heavy sales department headcounts
4) Revenue transparency throughout the complete business model
Zillow (NASDAQ:Z) has had an incredible run, doubling since January based on the hope it will become a Next Big Thing.
But Citron sees more than just shadows of doubt here – Zillow utterly failseach of the four points above. While management glibly talks the Web 2.0 game, Citron sees major red flags in every one of the four criteria above.
Historically, this is the last chance for sellers to bring their house on the market before things wind down in Q4. But with so little inventory, rates low, housing data improving, and media reporting positively on the industry, I predict the winter real estate market will continue to uptick.
From Huffington Post: New research finds that this West Coast-East Coast culture clash isn't just media stereotyping. In fact, people living in the east coast city of Boston closely link their overall life satisfaction with how content they are with their own social status. In San Francisco, residents don't make the same connection, reflecting a more individualistic, free-to-be-me culture.
DailyMail details the trial of a rich property developer (left) who killed his boyfriend (right) in a moment of rage by pushing in front of a bus during a disagreement about their dog. He told the court, "‘I killed him, I killed him, I pushed him, I love him, I didn’t mean to kill him, I killed him. We were so happy, then we started arguing and I pushed him, I did it, I pushed him, he’s dead, I killed him.’ How horrible!
You Won't Believe What This Top Realtor Forced His Assistant to Do!! Devil Wears Prada For Real Estate!
NYPost reports real estate NYC broker Jack Terzi is being sued by his assistant because:
This may sound atrocious but I have noticed many top top producers are jerks. They kiss their clients' butt but behind closed doors they enslave their assistants! Assistants: Get out while you can! Anne Hathaway did and so can you!
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