FRIDAY. THE FINAL FRONTIER.
What to Look for in a Contractor's Contract
Million dollar home sales thrive, American home buyers prfer new homes, Real estate investors target the coast, Google makes biggest property purchase of the year, San Francisco's rental market propelled by construction and tech sector, and Backyard escapes. Enjoy.
Million-Dollar Home Sales Thrive While Low End Stumbles - In a sign that the housing recovery may be mirroring America’s wealth divide, sales of million-dollar homes in America have doubled their historical average while middle-class property demand stumbles. Low wage growth, tight credit standards and escalating prices have put homeownership out of reach for many Americans, with few homes available for $250,000 or less
American home buyers prefer new homes 2 to 1 - A new survey shows that 41 percent of Americans would prefer a new home, 21 percent would prefer an existing home, and 38 percent would have no preference, according to Trulia. However, despite the strong preference for a new home, few Americans are willing or able to pay the premium, as new homes are listed for 20 percent more than existing homes.
Real estate investors target the coast - Many real estate investors are hoping their purchase of higher-priced properties will provide a better profit margin if the properties can be improved and placed back, in better condition, onto the market. Such investors are in many circumstances focusing on the coast and buying off the Multiple Listing Service as a less riskier option than buying at auction.
Off-MLS listings debated at Silicon Valley Realtors' meeting - With scarce inventory, the competition for homes is stiff among buyers, and so is the competition for listings among agents. It's one the reasons why the rise in off-MLS listings is causing a stir in the real estate community.
Real estate: a way to diversify - - In a supply-constrained market like Palo Alto and Menlo Park where there are limited amounts of land available for development, real estate can be a good investment. Investment properties purchased by individuals typically are multi-residential properties. Such properties range in size from a duplex all the way up to small apartment buildings.
Now more than ever, cash is king in real estate - The trend is being driven by retiring baby boomers and rich investors, who unlike most first-time buyers can bypass tighter lending requirements to pay cash. They now rule the roost, composing record percentages of residential home sales.It's meant the field is closed off for conventional purchasers in some hot markets, but in others it's meant forward momentum for the struggling housing sector.
Google to make biggest property purchase of year, paying as much as $250M for office park - Google Inc. is buying a 400,000-square-foot office park in Mountain View in its largest Silicon Valley real estate acquisition this year, and sources say the price could set a record in the region.
White-Hot Tech Sector and Highest Construction Pace in Years Propel San Francisco’s Strong Rental Market - The city is experiencing a frantic pace of development in the multifamily sector, with 2013 and 2014 set to add the largest amount of housing stock that San Francisco has seen in decades. Currently, 2011 stands as the low point of completions for the past five years, with 2014 set to experience a slight rise in vacancy due to the huge amounts of new units coming online during 2013 and 2014.
15 Backyard Escapes Worth Taking a Vacation Day For - The idea of backyard getaway to change the scene has always fascinated me. Some of my favorites:
