It's Friday desk clearing time for this blogger. "In Kalispell, planned housing units are slowly declining from the peak of 878 in 2021 to about 250 units in 2024. In Whitefish, City Manager Dana Smith said the municipality has seen a significant drop in single-family home permits in the last two years with 24 permits pulled. In 2021, there were 129 single-family permits with no multi-family permits issued. While prices remain unaffordable, market rates have fluctuated across the valley with November’s median home price in Kalispell at $522,750, Whitefish at $972,000 and Columbia Falls at $405,000, according to regional MLS data. This year, Columbia Falls had only $2 million worth of gross sales, a decline from previous years. 'Whitefish has plateaued, Columbia Falls has come down a smidge and Kalispell has come up while the county is steady,' said Northwest Montana Association of REALTORS® Public Affairs Director Erica Wirtala."

"The California Association of Realtors says the median price for a Bay Area home topped $1.3 million, a jump of 5% from a year ago. Between high mortgage rates and a surging crypto market, housing could again be tough to come by in the Bay Area in 2025. But there could be one minor bright spot. Zillow says San Francisco is the only major U.S. city that has a lower median home price now than it did back in 2019."

"Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. Real estate agent Gatien Salaun, who owns a waterfront condo in Miami Beach, said what appears to be a recent reduction in average sale prices is largely just buyers negotiating with sellers to eat some of the costs. 'They are simply asking for price reductions that are commensurate with that exact amount that they will have to pay over the next 20 years, 30 years in assessments,' Salaun said. 'And the sellers are somewhat stuck in terms of negotiating with the buyer or just paying for the cost themselves.'"

"According to the Broward, Palm Beaches, and St. Lucie Realtors Group, the months’ supply of condos and townhomes for sale in November was 8.8 months. That’s an 87% increase from the same time last year. Statewide, there was an 8.2-month supply of condos and townhomes in November, an increase of 64% from the same time in 2023. 'Some condo owners have rented their units out at discounted pricing, but they are future shadow inventory that will come back on the market at the end of the seasonal renting season in April or May,' said Jeff Lichtenstein, president of the Palm Beach Gardens-based Echo Fine Properties. 'Until inventory subsides, expect the condo market to fare worse than the single-family home or townhouse market.'"

"'After the reserve studies are completed and the condos need to start collecting all the funds, you are going to have more and more owners that are willing to take less and less for their units because they just need to get out,' said Jeff Margolis, a partner in the real estate department of the Berger Singerman Law Firm."

"When the Statler Hilton opened in 1967, Baltimore’s mayor heralded the 23-story hotel as 'vivid evidence' of downtown’s revitalization. The hotel changed hands multiple times since then. Its orange corduroy couches are long gone, and Baltimore’s once-thriving downtown is a collection of half-empty office buildings and vacant storefronts. When the former hotel reopened as an apartment complex last year, it was supposed to signal a new direction for downtown as a residential neighborhood. Instead, court records show, the towering apartment building is bleeding money and facing foreclosure."

"Vivo Investment Group, a California-based real estate firm that specializes in converting hotels into apartments, bought the tower at 101 W. Fayette St. in 2022. Following renovations, Vivo Baltimore opened as an apartment complex last year, with plans to convert the adjoining hotel tower into apartments next. But earlier this month, a real estate lender based in Los Angeles sued Vivo Baltimore for allegedly defaulting on a $45 million loan. Parkview Financial has asked a judge to turn over the day-to-day operations to a third-party company, a process known as receivership. Starting this fall, Vivo missed three straight monthly debt payments, the lawsuit said, and the apartment building lost more than $819,000 in October. As of Dec. 5, Vivo’s cash on hand and expected rental income totaled a little over $213,000, the lawsuit said, compared to operating expenses of almost $628,000 — a loss of nearly $415,000. Vivo is also behind on paying its general contractor, which has given notice it intends to file a lien on the property, the lawsuit said. Additionally, the company has failed to pay its property tax bill and incurred a penalty, which Parkview said will cost a total of $589,000 to repay."

"The federal government is encouraging young people to dig themselves into housing debt. New mortgage rules that took effect in mid-December – including expanded eligibility for 30-year insured mortgages – are being billed by Ottawa as the boldest reforms in decades. But they will also cause younger homeowners to rack up mortgage debt, pay more interest and leave them in hock longer than previous generations – all while needlessly exposing taxpayers to more real estate risk. As of Dec. 15, the price cap for insured mortgages was increased to $1.5-million, up from $1-million, enabling buyers to purchase costlier homes with smaller down payments."

"'There’s no free lunch,' Bank of Canada senior deputy governor Carolyn Rogers warned during a speech at the Economic Club of Canada in November. 'Steps to reduce the short-term cost of mortgages for borrowers can increase their long-term costs.' Stretching a mortgage’s amortization from 25 to 30 years could shave money off a monthly payment but result in tens of thousands of dollars of additional interest costs over the life of a mortgage, she said. That sounds like a great deal for banks, but a rip-off for first-time homebuyers."

"The Cypriot property market underwent significant changes from mid-2023 onwards due to several global and regional factors, according to Pavlos Loizou, CEO of real estate firm Ask Wire. Construction activity concentrated on high-end projects aimed at buy-to-let investors and short-term rental opportunities such as Airbnb, as well as real estate as a store of wealth. However, Loizou warned, 'The financialisation of real estate is creating significant affordability challenges, sidelining middle-class households and driving up rents.' High-end developments are expected to continue rising, driven by geopolitical demand and real estate’s reputation as a safe investment. 'However, there is a risk of oversupply if demand in this segment slows,' Loizou cautioned."

"Additionally, governments are expected to intensify their focus on addressing tax evasion, particularly in rental income and transactions. Loan servicers are anticipated to accelerate the sale of foreclosed properties, aiming to capitalize on rising prices while returning funds to investors."

"The nation’s richest-ever giveaway outside Australian lotteries has finally gone off 24 hours after being halted by technical issues. Aussie billionaire Adrian Portelli’s competition to give away all five properties from the 2024 season of The Block was drawn live in front of 111,000 viewers on Facebook on Friday night. The original draw, set for Boxing Day, ended a fizzer after the volume of online traffic to Mr Portelli’s company LMCT+ crashed the platform. That left thousands disappointed. On Friday, the eventual winner was named as 34-year-old Ballarat resident Holly as gold confetti rained down on Mr Portelli and The Block 2024 winners Maddy and Charlotte. 'Oh my God, no f**ing way. I didn’t watch the live on purpose because I thought it would be bad luck,' a stunned Holly told Mr Portelli. Holly decided to take the night to figure out whether she will take the houses or the cash."

"Mr Portelli launched the giveaway in November following the 2024 season finale of The Block in which he purchased all five properties for a staggering $15 million. So, what should Holly take: The houses or the cash? The 'glamour' of owning The Block’s Phillip Island homes was questioned by Property Home Base buyers agent Julie DeBondt-Barker. 'They don’t accurately reflect investment-worthy properties, it’s a constructed reality to serve entertainment,' Ms DeBondt-Barker said. 'There is often-disconnected realities between television narratives and the grounded demands of real estate investment.'"

"Phillip Island expert Teresa Young said over the years homes on The Block have been criticised for being overpriced. Ms Young also said capital gains taxes would also apply to the sale and there likely wouldn’t be a return of $8m on the homes if they were to be sold individually. 'I can’t comment on what they would sell for individually but they likely wouldn’t sell for what they did on The Block,' she said. Serial Block bidder Danny Wallis highlighted his concerns about attempting to rent these particular properties out individually. While he said the homes were good quality, he thought they had clearly been built as holiday homes and were best suited to be listed for short-term rentals. 'I did like the Phillip Island houses, but one of the reasons that I didn’t bid fiercely was there’s too much uncertainty about Airbnbs with the taxes and all that,' he said. 'And if you were to rent them as a holiday home for the whole year, you wouldn’t get a great return. They aren’t really near the beaches.'"

"Those planning to buy a home across the Causeway would have seen countless advertisements of luxe condominiums and lush landed houses being launched in Johor, with developers touting them as sound investments. Indeed, the number of overhang or unsold property units in Malaysia’s southernmost state declined in the third quarter of 2024, boosted by buying interest amid rapid economic developments in the region. 'After nearly a decade of downturn, the market has finally recovered,' said Mr Samuel Tan, chief executive of Olive Tree Property, a real-estate consultancy firm based in state capital Johor Bahru."

"For the past five years, Johor has been among the states with the largest number of newly launched residential units. If developers do not manage the situation well, this could lead to oversupply – where the number of units built in a selected residential area far exceeds demand, Mr Tan noted. 'In an ‘up market’, it is easy to inadvertently fall into the trap of a ‘build and they will come’ mindset,' he said. Forest City’s debt-laden Chinese developer Country Garden said in September 2023 that it had completed 28,000 units, with more than 80 per cent sold to buyers from at least 30 countries. But fewer than 10,000 people actually stay there – way below its 700,000 target."

"Mr Albert Chou, an advisory executive associate director from property firm OrangeTee, advises home buyers to exercise caution, 'rather than being swayed solely by government-led projects or hype.' 'The overhang issue highlights the need for better planning and more strategic developments… Many developers have built units that have yet to find buyers, leading to a somewhat saturated market,' he said."