A report from Realtor.com. "Steve Mariucc is prepped to take a loss on his New York City apartment. The NFL Network analyst has put the Upper East Side condo on the market for $2,595,000. The offensive guru purchased the three-bedroom pad in 2015 for $3.2 million, so he's going to be sacked for a loss on the sale price. The place came back to the market quickly after Mariucci, 64, acquired it, realtor.com® records show. The unit was listed in August 2016 for $3.8 million, which was dropped to $3.65 million in the fall. The price was finally chopped down once more at the end of the year, to $3.5 million."

From Bisnow Washington DC. "D.C. Chief Financial Officer Jeffrey DeWitt released revised forecasts Wednesday that lowered the projected revenue for Fiscal Year 2021 by $212M from his April estimates. The prolonged restrictions on businesses and large gatherings are leading to decreasing economic activity that DeWitt expects to hurt the city's revenues for years to come. Revenue is also shrinking in part because of the weak market for commercial property sales. DeWitt decreased the projected revenue from deed taxes by $93M for FY2021."

"'Multifamily and commercial property transactions are primarily for investment purposes and have been affected by the pandemic's impact on incomes earned by owners of these properties (through increased vacancy rates and reduced rents), thus having a negative effect on investments and transactions,' DeWitt wrote."

The Lynden Tribune in Washington. "Another factor heating up Whatcom County’s housing market is the migration of buyers northward. 'People are relocating from areas like Seattle, Portland and California,' said Kena Greer Brashear, managing broker for Muljat Group Realtors. 'I’ve helped several clients relocate from Seattle because they want to get out of the city.'"

From Seattle PI in Washington. "Seattle rent prices have been on the decline since the start of the pandemic in March. According to ApartmentList, Seattle had the third largest drop in rent prices since the start of the pandemic among the 100 largest cities across the country. Of the cities analyzed, 41 of them saw decreases in rent prices since March. Rent prices in Seattle were down 9.9% in September since March. Compared to the same time last year, rent prices in Seattle were down 8.8%. September marked the sixth straight month Seattle saw a drop in rent prices."

"Many of the cities that saw the most significant declines in rent prices since the start of the pandemic were some of the most expensive cities for housing, including San Francisco and New York, which topped the list. 'A handful of major cities are experiencing significant and rapid price reductions. San Francisco leads the pack with a decline of 17.8 percent since the start of the pandemic,' the study said. 'Though it remains the most expensive market in the country, San Francisco renters may now be able to find better deals than at any time in recent memory.'"

The San Francisco Examiner in California. "How things have changed. Last week, Zumper, the 8-year-old tech-forward successor to the apartment rental outfits that 20 years ago gave us printouts of available units and said 'go,' made a splash when it reported that the average rental for a one-bedroom apartment in San Francisco had declined 7 percent in the past month and 20 percent since August 2019. Rents have fallen in each of the past seven months and obviously, that’s not a coincidence."

"As you likely know if you’ve visited a single news web site since March, COVID has pretty well punctured our urban bubble. Whether that puncture is a slow, patchable leak or the kind that sends us darting crazily around the room before collapsing in a heap on the ground is debatable. What’s not debatable is that right now there is a butterfly effect happening in the wake of these rental market 'corrections.'"

"'The thing is,' a local agent told me last week, 'with rents falling, a lot of landlords are just deciding to cut bait and get out. That’s one reason why there’s so many new condo listings.'"

The San Francisco Business Times in California."While home prices in the Bay Area continue to hold and even gain value in the face of the pandemic's economic onslaught, some choice properties owned by well-known individuals have not. These examples fly in the face of the current market trends, where overpricing is most common in the luxury and ultra-luxury home markets, Compass Chief Market Research Analyst Patrick Carlisle told me. Granted, he said, it can be very hard to figure out what someone — the archetypical high-tech billionaire always mentioned by sellers — might pay for a spectacular property with the golden glow of fame added. Still, that doesn't mean someone will pay any price."

"'If these very expensive properties don't sell relatively quickly, one often sees very large price reductions — that can be in the millions — and sometimes multiple price reductions over time,' Carlisle said."

"According to sales data from Redfin, a number of homes listed by high-profile owners that we've spotlighted in the San Francisco Business Times since 2019 have either sold or been re-listed at a lower price. Retired Golden State Warrior David West may have helped the team win a back-to-back NBA Championships in 2017 and 2018, but the local market hasn't helped him sell his 5614 La Salle Ave. home in Oakland at the original listing price. The 5-bed, 5.5-bath property built in 2017 in the hills above Montclair Village listed in May for $3.67 million but has since taken a haircut down to $3.55 million."

"Up in the North Bay, the sprawling Napa Valley ranch home came online in June 2019 for the first time. Listed for $19.95 million, the 40-acre vineyard ranch of the late Lamar Hunt and his wife Norma — located in Knights Valley just outside of Calistoga, complete with water rights. The property at 11080 Franz Valley Road is still on the market, now listed for more than $7 million less at $12 million."

"Some homes listed by well-known personalities and business people over the past year have found their ways into the hands of new buyers, but at reduced prices as opposed to overbidding. Since the onset of the pandemic, former A's General Manager Sandy Alderson listed his Belvedere-Tiburon home at 12 Midden Lane for $5.25 million in May. The home sold on July 28 for $4.6 million."

"Metallica drummer Lars Ulrich listed his 13,000-square-foot mansion atop a view-studded Tiburon Hill in February 2019 for $12 million. The land at 11 Place Moulin is decked out with an aquarium, indoor basketball court, sauna, five fireplaces and sound studio situated on about two acres overlooking the entire San Francisco skyline, the Golden Gate Bridge and the bay. It sold in January 2020 for $10.3 million."

From Nevada Business. "Touchstone Living’s new Mosaic community is a rare find at the right moment. From the Las Vegas builder who makes homeownership possible for those who thought it was out of their reach, Mosaic is changing the quality of life for former renters – one incredible home at a time. In this prime location on the south end of the Las Vegas Strip, Mosaic offers low payments and easy financing options."

"'Feedback has been overwhelmingly positive from visitors and buyers,' according to Tom McCormick, President and Owner of Touchstone Living. 'We’ve not only created stylish floorplans that include upscale features and digital connectivity today’s buyers want, but we’ve made Mosaic easily affordable with pricing that begins far below the current median price for Las Vegas homes.'"

"'In today’s world,' McCormick explains, 'it can bring real peace of mind to start fresh in a brand-new home environment – one that’s never been lived in and where you can set your own rules. Hang a picture on the wall or redecorate to your heart’s content. Enjoy a long list of outdoor amenities that enhance your lifestyle and health (even your dog’s!). Mosaic is a great opportunity to start building your own home equity each month, not your landlord’s. With $0 Down Programs and historically low interest rates, it’s much more doable than many people realize.'"