September 2010

There are 14 blog entries for September 2010.

Dallas ranks second behind Houston as one of the U.S. cities where home prices are expected to rise the most over the course of the next year.

A new report by Veros Real Estate Solutions says Dallas and Amarillo ranked second and third, respectively, behind Houston in the forecast of the nation’s projected five strongest markets. Texas cities overall received favorable ratings. Beaumont/Port Arthur ranked No. 7.

Dallas and Amarillo home prices are expected to rise 2.7 percent. Beaumont/Port Arthur’s projected price appreciation over the next year is 2.3 percent.

“Texas is looking strong, with four of the top 10 markets in the appreciation forecast,” said Eric Fox, Veros’ vice president of statistical and economic modeling, in a statement.

The

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Once all the ratifications were entered into MLS, it turns out that the week ending September 19th was the 2nd most active in number of accepted offers in the last 6 months: 141 deals. (The only week with more ratifications was the last week of April during the tax credit crush.)

We won’t have final numbers for the week ending the 26th (yesterday) for 3 or 4 more days, but right now, it looks like it might be as good or better in terms of ratifications.

Inventory is up with lots of new listings, and deals are being made.

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An FAQ and guide to the condominium conversion process provided by Attorney, David Gellman of Goldstein, Gellman, Melbostad, and Harris.

A sample of what’s inside: “Good News! The City’s performance in processing condo conversions has improved significantly. With an understanding of the City’s new procedures, and experienced guidance, conversion times for 2-4 unit properties can been reduced to as little as 2½ months! 5–6 unit properties will continue to require more time, due to state approval requirements, but our team has succeeded in reducing the processing time for those conversions as well.”

Read the entire report here: Condo Conversion.

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This 1906 warehouse conversion is a very promising project with 51 new condos. The project is located between Market and Mission; between 1st and 2nd. Since One Ecker is a historic building, the homes will be sold without parking. Given the proximity to all of the transportation options located on Market Street, many buyers will find this project an attractive alternative to the new construction tower alternatives. The developer will also be offering parking alternatives. The prices have not be finalized however we’ve been told that the range will begin in the mid 400s and up. The project will have studio, one bedroom, and two bedroom homes. The square footage range is 475 square feet – 1275 square feet. We have floor plans available upon request.
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Upcoming listings:
$2,075,000 // Noe Valley // Chattanooga Street BR/BA: 4/2.5 PKG: 2 Brief Description: OPEN Sat. & Sun. 2-4 Live in a work of art! Expertly designed by award winning Zack/De Vito Architects, this dramatic, light infused, metropolitan home consists of clearly organized spaces, cohesive materials and timeless finishes. Harmony is created by the thoughtful design of repeated squares and rectangles that play with natural light. Property Website (if any): www.ModernInNoe.com

$1,925,000 // North Panhandle // Grove St BR/BA: 4/3.5 PKG: 2 Brief Description: Majestic 1 of a kind, 3-level Tudor style home with marvelous period details. There are Grand scale public rooms, 4 working fireplaces each showcasing “fire brick” surrounds and a

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Enough with the doom and gloom about homeownership. Brett Arends explains why owning a home is a good thing.

Enough with the doom and gloom about homeownership.

Sure, maybe there’s more pain to come in the housing market. But when Time magazine starts running covers that declare “Owning a home may no longer make economic sense,” it’s time to say: Enough is enough. This is what “capitulation” looks like. Everyone has given up.

After all, at the peak of the bubble five years ago, Time had a different take. “Home Sweet Home,” declared its cover then, as it celebrated the boom and asked: “Will your house make you rich?”

But it’s not enough just to be contrarian. So here are 10 reasons why it’s good to buy a home.

1. You can get a good deal.

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“…the first full week unaffected by Labor Day – will be very interesting to see.”

Here are weekly market activity charts through September 12th for houses, condos, TICs and 2-4 unit buildings. The charts go back 6 months.

Listings Accepting Offers: even taking into account that the Labor Day holiday impacted both of the first 2 weeks of September, activity as measured by listings going under contract is low. We usually expect a spike in the week after Labor Day. The red line shows the average of accepted offers per week for the first 3 months and then the subsequent 3 months of the entire 6-month period.



New Listings coming on Market: there was a huge spike of new listings in the week after Labor Day.

Active Listings For Sale: climbing with

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Kakaako Condo in Honolulu - MAKE BEST OFFER, Very "Motivated" Seller

koolani condo

Located in Kakaako, Honolulu

Two bedroom/Two bath

1157 Square Feet

Built 2006

Urban living at it's best! Luxury building located in the Ala Moana and Ward area of Honolulu, across the street from Ala Moana beach/park. Amenities galore! 

***BEST STACK WITH OCEAN VIEWS!***

Current market value is around $699,000.  The seller is very motivated, since he now lives on the mainland, however he is not desparate.  Make an offer!!  Don't be ridiculous, but I think a real bargain could be had here!!!

 

koolani condokoolani condo

koolani condokoolani condo

 

 

 

 

 

 

 

 

Mahalo For Reading.

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San JoseCondo If you've been considering purchasing in one of the first San Jose High Rise condos, now may be the time to make the leap. A new housing plan from www.SJHousing.org called Building Equity & Growth in Neighborhoods (BEGIN) has recently approved over $8 million to assist qualified buyers in beautiful downtown San Jose.

First time home buyers that meet the qualifications can receive a Down Payment assistance state loan of up to 20% of the purchase price of their new San Jose highrise at an unheard of 3% interest without any payments being required for the first 30 years. And, the down payment required to lock in your new home could be just 5% of the sales price with this great program.

The Prop 1C funds, originally approved in 2006, will be funding the…
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I was sitting in one of the upper floors of the Terminal Tower the other day discussing "Cleveland's Image," with some people who's job it is to decide how that image is and will be portrayed in the coming year.

How do we sell this city?  This question has come up over in Cleveland by its leadership.  When I am consulted on this topic I keep telling people the same thing but I am still waiting for someone to listen.  You can't sell someone on investing in real estate in a particular area or market with some gimmicky add campaign.  Buying a home is not like buying a candy bar or a time share. 

Unlike those other things, you simply can't sell a home buyer, you can only share information about a property and take them to it. If the house is not right for…
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