REAL ESTATE TRENDS: WHAT’S HOT, WHAT’S NOT FOR 2016?

AS 2015 COMES TO AN END WHO WILL BE BUYING AND WHERE WILL THE HOT MARKETS BE FOR 2016? In the yearend of last year, the U.S. Federal Reserve was predicted to raise interest rates for this year which propelled prospective homebuyers to take action, however, 2015 proved that prediction wrong. This time, that pattern may no longer come to be. "Buyers now don't seem to be all that spurred or driven by a rate increase," says Nela Richardson, chief economist of Redfin. "That lack of urgency will translate into next year's housing market. There's interest, but there's not a lot of inventory to buy."  With 2015 nearing its end, here are some of the real estate trends that are expected to come with the New Year, U.S. News reports: Click here to read more.        Continue reading

BIG BUCKS: THE PRICIEST RESIDENTIAL SALES IN LOS ANGELES LAST WEEK

The Malibu estate of an actor/comedian, a Los Feliz home built for a silent-film pioneer and newly built residences in Arcadia and Brentwood were among the priciest residential real estate sales in greater Los Angeles last week. $12.94 million — Malibu The onetime marital home of Kelsey and Camille Grammer sold in the 3200 block of Serra Road. Off and on the market several times over the last decade, the 4.75-acre estate in the gated Serra Retreat community had been listed in 2004 for nearly $20 million and in 2012 at about $17 million. The Grammers, who divorced four years ago, bought the property in 1998 -- a year after they were married -- for $4.5 million. Click here to read more.        Continue reading

WHAT ARE THE REAL REASONS PEOPLE AREN’T BUYING?

If you follow the Motley Fool you know, this guy makes sense!  And few can spell things out so clearly….. Mortgage rates remain near all-time lows, job prospects are getting better for educated individuals, and ever-increasing rent make buying a house a financially practical choice. So, why is the homeownership rate at its lowest level in 48 years despite these compelling reasons to buy? The first-time buyer segment can make or break the housing market  Just 63.4% of U.S. households own their homes, down from a peak of 69.2% in 2004. During the past year, 123,000 new homeowner-based households were created, a stark contrast to the 1.3 million renter-based households that have formed.One of the biggest reasons for the low homeownership rate is the lack of first-time homebuyers in the market. In fact, the most recent data shows that only 32% of 2015 purchase transactions come from first-timers, the lowest level in nearly 30 years. Click here to read more.      Continue reading

THE LONGER TERM VIEW: WHY REAL ESTATE INVESTMENT MAKES SENSE

Those that are currently investing in US housing should feel confident. There are four reasons why this is a good decision despite the ups and downs on market prices. Strong job growth The US economy has paved the way for around 3 million private sector jobs over the past year alone. This could only mean that there could be more than 750,000 new jobs in the 25- to 34-year old-age group which is the segment for first-time homeowners. This is the highest in about 15 years. More jobs mean higher incomes leading to an increase in consumer confidence and more demand for homes Decrease in inventories and an increase in pent-up demands The level of inventories for new and existing homes and the percentage of households are at or near-15-year lows. Around 1.5 million new households have been formed in the past year. More than 30 percent of 18- to 34-year-olds live at home which means there is an increase in pent-up demands. Housing demands will surely increase towards 1.5 million units two or three years from now Click here to read more.      Continue reading

INVESTING IN UPGRADES: 2016 TRENDS IN BATHROOM DESIGN

On average,  the return on investment for mid-range bathroom remodels is 81 – 102%, upscale bath remodels return 69 – 85% When it comes to home remodeling projects, bath upgrades continue to dominate, even over kitchen renovations. With so many resources and choices out there, it can be overwhelming to sort through the different options and styles on your own, so I’ve researched the topic for you. Transitional and contemporary style bathrooms are gaining steam over traditional designs. Modern style baths tend to be popular among homeowners who are remodeling because they offer eye-catching features that are sure to impress. See what’s trending in 2016 so you’re prepared the next time you want to buy a home or update your bathroom. Click here to read more.      Continue reading

WHAT’S HAPPENING WITH LUXURY HOME SALES IN LOS ANGELES?

LOS ANGELES—Luxury single-family home sales are spiking in Los Angeles. According to a report from Sotheby’s International Realty, home sales in the Pacific Palisades were up 94% from October 2014 to October 2015. Home sales also spiked in other Los Angeles luxury markets, up 46% in the Beverly Hills Post Office market, 50% in Westwood, 40% in Venice and 50% in Cheviot Hills. “We are seeing recovery in all price ranges in the market, and most markets are fairly robust. In the luxury market, we are also seeing a robust market as well,” Frank Symons, EVP and COO at Sotheby’s International Realty, tells GlobeSt.com. “In the over the $3 million market, if you look at the quarterly results year-over-year, you can see that the numbers indicate how robust that market is. We work within pretty broad price ranges, and in those price ranges, we are seeing that all sectors are doing well.” Click here to read more.      Continue reading

REAL ESTATE PORN: MOVEMENT IN CELEBRITY REAL ESTATE

For something that would seem so easy to personally define as one place, “home” can be many places. A house that was just purchased is a new home. One vacated for sale is an old home. The residence of parents might still be a family home. Multiple property owners might have vacation homes, summer homes or ski homes. Then there are investment houses, which were never homes to their owners. Hot Property looks at them all, and at the people who have passed through their chains of title. Brick by brick and stick by stick the structures called home give us a framework to understand other people’s lives. Click here to read more.    Continue reading

THE PRICE OF PERFECT WEATHER: WHAT DOES IT MEAN FOR CALIFORNIA REAL ESTATE?

As any good Californian knows, the West Coast is the Best Coast, but now it’s also the most expensive coast. According to a report by Coldwell Banker, nine of the 10 most expensive real estate markets are in California. In fact, the Golden State dominated the Coldwell Banker Home Listing Report, taking 50 of the 100 spots.   Continue reading

Happy Thanksgiving!

Wishing you a happy, healthy Thanksgiving full of good friends, great food and lots of laughter!   Continue reading

RENTING VERSUS BUYING: THE BATTLE WAGES ON

SEATTLE, Nov. 11, 2015 /PRNewswire/ -- Paying for a mortgage is still more affordable than renting in the U.S., but saving enough money for a down payment has become increasingly difficult for first-time buyers, especially in markets where home values are rising rapidly.  With the majority of renters in the largest metros putting about 30 percent of their monthly incomei toward a rental payment, saving money for a 20 percent - or even 10 percent - down payment is extremely difficult. First-time homebuyers and millennials are left trying to find other ways to break into the housing market, turning to friends and family for financial help. In 2014 alone, 13 percent of home purchases were bought using a loan or gift from friends or family for the down payment. Continue reading