Category Archives: Housing

Real Estate Headlines for the Last Full Week of 2012

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Wow. 2012 is almost gone. Think about it. We survived not just another year but the end of the world predicted by the ancients. Come on, that’s pretty impressive! As you now realize that you need to buy a new calendar may I help you usher out the old and in with the new with these real estate headlines:

How do you know when it’s the end of the year? Websites start producing lists of things to look for in 2013. KCM Blog has a list of 5 real estate trends to look for in 2013.

Time.com has an article on The Great Housing Rebound of 2012.

Realty Times wants to remind you that the mortgage rates are still ridiculously low.

Want to own a home in the hottest market in 2013? You’ll have to move to Dubai.

Washington Post reports that home prices rose over the past year and it’s another sign that the market is recovering.

New York City will evidently be home to a pyramid? (image above)

AOL Real Estate has a gallery of the 20 most expensive homes sold in 2012. More than a few Coldwell Banker listings on there.

And in case you missed, this post was the most popular post of the year on the Coldwell Banker Blue Matter blog.

Image courtesy of TheAtlanticCities.com

Real Estate Headlines for the Almost End of October

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The World Series is almost here. Your home’s pantry is full of candy. And you’re debating whether it’s cold enough to wear a sweater. Yes, October is coming to a close and here’s what’s happening in real estate:

Would you believe that in England over 1.5 million people own a domestic second property?

Check out this Rock Star Home featured on AOL Real Estate’s House of the Day.

For those who still haven’t gotten a pumpkin for their home, here’s a look at how to carve a pumpkin without the hassle.

Frontdoor.com has 10 tips for selling a home in the fall.

Not just a luxury condo, a luxury condo tower has opened up in LA.

Here’s an interesting question, what’s the White House worth? How about $110 million?

US News and World Report takes a look at the future of Fannie Mae and Freddie Mac.

And finally, as if we couldn’t get enough of the Kardashians Casa Sugar has found 3 pads in Miami they believe would be perfect for Kim and Kanye.

 

 Image courtesy of Flickr user OakleyOriginals

Presidential Town Hall: Important Questions That Weren’t Asked

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bm Presidential Town Hall: Important Questions That Werent AskedNearly 70 million people tuned in to watch the presidential debate and heard audience members ask Mitt Romney and Barack Obama thoughtful, specific and often personalized questions.  One came from a college student who asked about the future of employment for his generation. Other hot topics included small business, immigration, gun control, tax deductions, sustainable energy and equality for women.

However, one major topic was clearly absent from the conversation. Where was the topic of housing?

There is so much to discuss.  From the “underwater” homeowners to today’s stabilizing – and even increasing – home prices.  From lowered rates of homeownership to the future of Fannie Mae and Freddie Mac.  The list goes on and on.  Surely there was a homeowner in the audience or someone who dreams of owning a home one day that had this on their mind

Real estate has a significant impact on the economy and this topic deserves attention from President Obama and Governor Romney.  Coldwell Banker, as you would expect from the nation’s oldest real estate brand, plays a leadership role in the industry.  So it makes sense that we share this blog with you and the campaigns to hopefully gauge where each candidate stands on housing.

Last night we asked our Facebook fans to identify housing questions they think should be answered by the candidates.

prezquestion 300x158 Presidential Town Hall: Important Questions That Werent Asked

The responses are also thoughtful, specific and often personalized questions.  They deserve to be asked and also answered.

We have tweeted to both campaigns and will keep you informed if, when and how they respond.  Take a look at some of the questions and feel free to suggest some others:

Kathy M.: Do you think housing will lead the economy recovery long term and why or why not?

Linda L.: What are your plans for improving the housing market? Do you understand that will create jobs and boost the economy?

Michelle P.:  would want to know what the administration would do to help people achieve home ownership.

Cynthia L.: What is your plan to retain the mortgage interest deduction?

John S.: How will you balance the needs of lenders to make safe loans with the unattainable QRM requirements? What plans do you have to strengthen FNMA and the secondary market?

 

Image via justjared

Real Estate Headlines for the End of July and Start of August

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katyperry Real Estate Headlines for the End of July and Start of August

Own a part of Katy Perry’s kingdom. Her penthouse is for sale.

How on earth is there only one month left of summer? This is ridiculous. As you catch up with the reality that summer vacation is almost over, try and bask in the fact that there’s still a full month left before Labor Day. And while dwelling on that thought, here are some real estate headlines for you:

California girl, Katy Perry, is selling her penthouse in Tribeca.

Here’s a list of the ultra-luxurious, mega-properties that are currently for sale in the United States.

FrontDoor.com has 4 updates for home sellers that are on a tight budget.

MSN Real Estate has a feature on the coolest homes of athletes. I know I’m biased, but I do like David Wright’s place. Rafael Furcal’s place is pretty nice too.

Can your dried out brown lawn get new life with green paint? AOL Real Estate thinks so.

And finally, want to see the “house of the year” in Australia? It’s a shearer’s shed and retreat for farmers.

 

Image provided by by oouinouin

 

Real Estate Headlines for Last Week of June

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7411229508 4d586a1870 Real Estate Headlines for Last Week of June

Gwyneth Paltrow has found a new place to lounge on the couch.

School is out. Summer has officially begun. We have fireworks and barbecues on our mind, yet here you are reading a real estate blog post. Information is the key so below are some notable real estate headlines to finish out June 2012:

 

Image courtesy of Flickr user pommekiwi1

 

Infographic: Baby Boomers and the Real Estate Market

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There are 79 million baby boomers, and this year, the oldest boomers turn 65. Their impact on the economy is enormous, so looking at the home buying trends of this group highlights interesting differences between older and younger boomers. A new survey from Coldwell Banker reveals that younger baby boomers are interested in purchasing a second home (34 percent) as compared to their older boomer counterparts (22 percent).

The infographic below represents data collected from a survey of Coldwell Banker real estate brokers and agents regarding Baby Boomer real estate trends. The findings are pretty interesting. Take a look.

Click here to enlarge infographic

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Are You Spending $1,000 a Month on Rent?

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I enjoyed a “fun” weekend out in Urbana-  Champaign, IL, with family and friends.  We had a blast together hoping our Fightin’ Illini would improve to 7-0 against Ohio State.  Didn’t happen.   We turned the ball over too many times. That’s why I used “fun” to describe the weekend.  I was hoping it would have been “great.”

When I got home I saw an interesting article that showcased interesting points from the Census Bureau’s 2012 Statistical Abstract.  I was fascinated to see that 33.4% of renters nationally pay more than $1,000 a month.  That equates to a $204,000 home with today’s fixed-rate, 30-year mortgage at 4.25%.  Not bad!  (To be fair, I didn’t include taxes, maintenance or down payment.)

This morning I went onto www.coldwellbanker.com and learned that there are 201,367 properties on our site priced between below $204,000 in the U.S. 

So if you are renting and have financial stability, don’t you owe it to yourself to explore home ownership?  Talk it through with a family member or friend.  Don’t be afraid to talk to a real estate agent, spend a few minutes with the manager of a real estate office or visit our First-Time Home Buyers Resource Center to learn.   

I know what you might be thinking.  Of course the CEO of Coldwell Banker Real Estate would push homeownership!  You’re right!  I’ve been in real estate for 36 years and know what I’m talking about.  Home ownership is a lifestyle investment that is part of the American Dream.  

I clearly recognize homeownership isn’t for everyone.  It depends on your lifestyle, job status, savings, credit history and a host of other factors. 

But with home affordability levels at their record best, I strongly suggest you take a good, hard look at homeownership. 

 

 

 

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Consumer Confidence is Driving the Bus

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It’s all about consumer confidence.  If you didn’t think that American nerves are rattled by the recession, continued high unemployment figures and the recent Capitol Hill squabbling, you don’t have to look further than two recent reports involving housing for proof.

We are a skittish nation right now.

The National Association of Realtors reported  that the number of existing homes sold in July was down 3.5 percent from June.   

And the median price was $174,000 in July which is down 4.4 percent from a year ago.  For buyers that is good news.  And there is more good news.

Freddie Mac’s weekly mortgage report showed that 30-year fixed-rate mortgages averaged 4.15 percent, the lowest EVER.

Let’s review: prices are down and mortgage rates are the best ever.  Sounds like a smart time to buy a home.  So what’s wrong?  Why aren’t people buying?

I firmly believe it’s those two words – “consumer confidence” – that is driving the economic bus right now.

I have said before and I’ll say it again.  For those with a job and financial viability, today is the smartest time in my 36 years in real estate to buy a home.

Along with the already mentioned lower prices and interest rates, most towns have quite a few homes to choose from.  And, don’t forget, affordability levels are near at their highest levels ever.

Yet many are choosing to remain renters.  The National Association of Realtors recently reported there  were 16 million renters who could afford to buy a home, up from 11 million in 2000. 

And for those who aren’t ready to own, are unsure of their job status and/or not sure they want to remain in a home for at least a few years, renting is a great option.  After all, home ownership is not for everyone.

But for those who are considering buying a home, do some soul searching and decide if it’s only confidence in the economy – or lack thereof – that’s holding you back.

Photo courtesy:  Google images punkrawker4783

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