AMERICANS WEIGH IN: NOW IS A GOOD TIME TO BUY A HOME

A vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of REALTORS®. The 2015 National Housing Pulse Survey also found that a preponderance of Americans think that now is a good time to buy a home. Click here to read more.                                        Continue reading

BIG BUCKS: THE MOST EXPENSIVE HOMES SALES IN LOS ANGELES LAST WEEK

The homes of a denim mogul, a pop music singer and a pair of retail fashion executives were among the most expensive residential real estate transactions in the greater Los Angeles area last week. $32.67 million — Beverly Crest Armand Marciano, cofounder of the denim brand Guess Inc., sold a three-acre estate in the 900 block of Kip Drive in a deal that played out outside the Multiple Listing Service. The nearly 25,000-square-foot home had been listed for $37.9 million earlier this year, records show. Click here to read more.                                        Continue reading

NEWS YOU CAN USE: SURVIVING THE HOUSE HUNT

Though prices aren’t at the Alpine heights they reached earlier this year, they’re still a whole lot higher than they were last year. And with supply scarce, and likely not catching up to demand for a very long time, it’s harder than ever to buy a home. More proof? Homeownership is at all-time lows. So if you’re a prospective homeowner, you’re probably feeling a little blue right now. Don’t worry—that’s normal! But if you’re going to survive the house hunt, you may need a little psychological preparation and support. Click here to read more.                                      Continue reading

HIGH NET-WORTH MILENNIALS: REDEFINING LUXURY REAL ESTATE

Individuals are increasingly reaching levels of ultra-high net worth at a younger age, a development with notable impact on the real estate market, according to a new report from Coldwell Banker. High-net-worth millennials spent nearly $5 million for their most recent home, a number more than triple that of baby boomers and less than $300,000 behind Gen Xers. The increasing wealth of young consumers is already having a profound impact on preferences and behavior as well as the demand in particular markets. Click here to read more.                                     Continue reading

THE NEW FRONTIER: IS YOUR NEIGHBORHOOD ONE OF THE HOT “FRINGE” MARKETS?

2015 has seen the housing market in Los Angeles continue its meteoric price rise, with established neighborhoods steadily increasing in value, and emerging areas finding their footing. Homeowners throughout the city and region find themselves in the enviable position of seeing prices ascend to levels unseen since before the crash of 2008. But the unfortunate side-effect has been that prices are now beyond the reach of many buyers. The median sales price of single-family homes in the second quarter in greater Los Angeles (the Westside,Downtown and Northeast) reached a record high of $1,371,500, and for condominiums it hit $675,000, making the across-the-board price for homes a gasp-inducing $938,000. Click here to read more.                                     Continue reading

HOME PRICE APPRECIATION REMAINS STRONG WITH SOME MODERATION PREDICTED FOR 2016

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its CoreLogic Home Price Index (HPI) and HPI Forecast data for August 2015 which shows home prices are up both year over year and month over month. According to the CoreLogic HPI, home prices nationwide, including distressed* sales, increased by 6.9 percent in August 2015 compared with August 2014 and increased by 1.2 percent in August 2015 compared with July 2015. Click here to read more.                                     Continue reading

BIG BUCKS: THE MOST EXPENSIVE REAL ESTATE SALES IN LA LAST WEEK

A designer showplace in Beverly Hills, an ocean-view condominium in Santa Monica and the Brentwood home of a video game executive were among the most expensive real estate sales in Greater Los Angeles in the week that ended Oct. 3. $23.8 million — Beverly Hills In the 9900 block of Beverly Grove Drive, a Contemporary-style home built on speculation sold for $11.2 million less than the January list price — $35 million. It had been listed for sale at $23.8 million since May, property records show. Set on about three-quarters of an acre, the gated showplace boasts retracting walls of glass, a glass-enclosed elevator and a lower-level lounge complete with glass-enclosed wine cellar, billiards room and wet bar. Click here to read more.                                      Continue reading

NYC vs THE WORLD: WHERE IS THE INTERNATIONAL $$ GOING AND WHY?

New York City real estate is never short of mantras and catch phrases, but few have taken hold of the industry’s collective mind like “safe haven.” Seemingly no conference, panel discussion or research report can do without these two words. The notion that the New York market is a “safe haven” for foreign investors fleeing economic turmoil has become a guiding ideology for developers, investors and brokers from the Bronx to the Battery. Regardless of whether that claim actually has merit, it’s based on an undeniable trend: the significant growth in foreign investment in the Big Apple’s real estate market in recent years. And, many of these new investors are drawn here by the city’s comparatively stable prices, relative liquidity and easy accessibility. But what the true believers often fail to mention is that New York isn’t the world’s only “safe haven.”  For today’s investors, the choice is no longer between buying in Midtown or Lower Manhattan. It’s often a choice to invest in one of a handful of global urban powerhouse cities, particularly New York, London and Hong Kong, but also Singapore, Paris and other so-called gateway cities around the globe. And like New York, many of these cities have seen an influx of foreign capital since the 2008 worldwide economic crisis. This month, The Real Deal stacked New York up against these other megacities in several key real estate investment areas, including luxury residential purchases, commercial trophy properties, retail investments and taxes. The goal was to figure out why investors would choose, or bypass, New York when deciding where to park their cash. Click here to read more.                                     Continue reading

RISING DEMAND AND LIMITED INVENTORY WILL CONTINUE TO FUEL RECOVERY IN LOS ANGELES

What may feel like a real estate bubble in Los Angeles — with all-cash offers and frenzied bidding wars — is actually the midpoint of a steady housing market recovery, analysts say. The UCLA Anderson Forecast released Monday said L.A. is only three years into a rebound that started in 2012. Home prices have since climbed 27 percent. History suggests there will be four more years of price increases and home values will go up another 35 percent before there is any sort of correction. Click here to read more.                                     Continue reading

HEDGE FUNDS PLAY HARDBALL IN MORTGAGE GAME

Homeowners who end up unable to pay their mortgage may soon see their homes taken over by a surprising new player in the field: hedge fund firms. According to The New York Times, banks have sold over 100,000 delinquent mortgages to private equity and hedge fund companies, who restructure these loans—through modifications or foreclosures—in an effort to resell them and turn a profit. Yet while some hedge funds are being praised for their creative solutions for struggling homeowners, others have been branded bullies—quickly pushing homes into foreclosure and showing less flexibility than banks when negotiating modifications so homeowners can hang onto their property. Click here to read more.                                     Continue reading