October 2007

There are 12 blog entries for October 2007.

One of the most talked about condos in the downtown market has been The Globe Development on South 2nd street. The development being built by the CIM Group right next to Zinattos Market. CIM is also developing the newest High Rise Tower 88 located next to the San jose Repertory Theatre.

As many of you might know The Globe opened their sales office for a short time. In a trailer across the street from Zinattos they had began pre-selling what is to be one of the downtown San Jose's premier new condominium communities. The project seemed like it was right on track to start selling in April with escrow closings right around the corner. Then this spring, just like a chocolate factory all doors where closed to the outside world. A simple note at the door read,…
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While most of the country declines, Nashville sales are going strong.  Why?  Read this article by Graham Summers, in which he states "Nashville has 17 colleges (Vanderbilt is here), 400 music clubs, a brand new symphony hall, NFL and NHL teams, no state income tax, and a lower cost of living than most East Coast cities. It's high on my personal list of places to buy a home in 2008.”
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I am very excited to have discovered the opening of a desperately needed grocery in the ballpark area! Current downtown residents have always had to drive out of the city to do their food shopping. The need for a local market has grown as our downtown rapidly redevelops and more and more individuals move back into the city or relocate to Denver. Christa and Brandon Engel saw this need and combined it with their passion for food to open Market Central. Their logo is, “Cook more. Drive less. Live better.”  Current services include: grab and go meals, box lunches, knife sharpening and shopping done for you. Future services include cooking classes and delivery to the immediate area. They opened their doors this past summer and continue to grow each day. They

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Trinity Uptown™ is a bold new plan for waterfront development. It aims to revitalize an 800-acre area north of downtown Fort Worth with a combination of public improvements and private development. Its goal is to provide a vibrant, stimulating environment in which families can live, work, shop, play, and learn. The combination of public improvements and private development is key to understanding this project. Private development of the area will be possible once flood protection is in place and levees are removed to open up the land. The area will enable up to 10,000 new homes to be constructed in the area, providing a solution to the demand for high-density urban housing. Fort Worth is the fastest-growing large city in the United States. Its population

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DFW Ranks #1 in Business 2.0 list of Best Real Estate Opportunities (10.4.07) From Business 2.0:  The Metroplex, as locals call the Dallas-Fort Worth region, is smoking, adding jobs at twice the national rate. Better yet, those new jobs are concentrated in well-paying fields like banking, advertising, and health care. Dallas-Fort Worth sits at the center of the Interstate 35 corridor, a "megapolitan" galaxy of urban development that Virginia Tech researchers estimate will add 6.4 million new people and 2.8 million units of housing over the next two decades. Dallas also serves as the North American headquarters for international high-tech employers like Nokia and Ericsson. All of this makes Dallas one of the nation's nine most global metros - cities that

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That's correct. If you buy a spacious 2-bedroom home with an outdoor balcony and a generous master bedroom with an expansive walk-in closet for $759,900 at the Three Sixty Residences condos they would have paid 2-years HOA dues. Keep in mind these condos are not just centrally located in Downtown San Jose but they also offer many amenities. To see a list of all amenities that 360 Residences is offering please check out our San Jose Condos page.

The Three Sixty Residences is no longer offering this special incentive for new San Jose condo buyers. When shopping new condos to take along your New Condo Buyers agent on your first tour. A professional will know that there are many incentives that can be added during negotiations when purchasing a New Downtown condo.
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Texas is known for huge homes and wide-open spaces, but even there the high-rise living trend is starting to catch on.  Take a look at this article in the USA Today -  It's a great write-up about how several Texas cities are moving toward a more urban way of living.  Gas prices, traffic and shifting demographics are all contributing to changing the way many people live in Dallas.

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Sept. 07' Statistics are in for the Downtown San Jose ( Area 9 ) market and let me say that it is a whole new market for the San Jose Area. The downtown condo, townhomes and lofts median sales price went up from the August but the number of closings is almost half the volume from the previous month.

2007             |  Inventory  |  Closed Sales  |  Median Sales $  |  Total Sales Volume

August          |       157      |               23         |       $480,323        |  $11,047,450

September   |       162      |               12         |       $490,000        |  $5,986,500

The inventory continues to climb in the area. With the qualification change recently for home loans and the holidays right around the corners, I don't think the inventory numbers…
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I was at a conference today called Forecast 2008. It was a conference on where the market is headed in the next year. One of the speakers was Dr. Gaines, who was quoted in that article in the DMN and we also had Dr. Berson, VP and Chief Economist for Fannie Mae. Although the outlook for the national market looks pretty grim in a lot of state, the local market is holding steady. They say that  prices and appreciation  peaked in 2006 so this year is down because we are readjusting to what has been the norm in TX for the past several years. They speculate that we will have around a 3% appreciation rate in 2008.  However, things are moving slower and the inventory is 6.5 months for existing homes and a little more for existing condos.…
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