It’s A Common Conversation
A report from WTOP. "Bright MLS reports new listings of condos and co-ops in the D.C. metro in October were up 49.2% from a year ago, a 10-year high for the second month straight. That does not mean there is…
The Price They Are Refusing To Accept Today Could Be Lower In February
A report from Realtor.com on Florida. "After three years of twists, turns, and foreclosure proceedings, Birdman’s mansion was finally sold for $10.85 million. The Cash Money Records co-founder purchased the Miami Beach, Florida, mansion back in 2012 for $14.5 million.…
Where The Dominoes Start To Fall
A report from Click Orlando in Florida. "For the second time in two months, an Orlando sports legend’s sprawling home has become a little more affordable. Shaquille O’Neal’s Isleworth mansion can now be had for a reduced price. Shaq first…
Now, There’s No One
A report from the Los Angeles Times in California. "In the 90210 ZIP Code, based on 30 sales, the median price for single-family homes in September was $4.518 million, down 27.1% year over year, according to CoreLogic." The San Diego…
Dreams Are High, It Will Sit On The Market, And They Come To The Realization They’ve Got No Offers Or Significantly Lowballed Offers
A report from the Wall Street Journal. "Some of the most conservative real-estate funds are suffering from falling property values, putting their fund managers in a tough spot as investors look to cash out. Now that the pandemic has caused…
The Real-Estate Market Is Awashed With Supply
A report from the Commercial Observer. "New York is going to need a long time to recover from 2020. Exhibit 1: Givenchy and its parent company LVMH just paid a whopping $24.5 million to not finish their leaseat Jeff Sutton’s…
They’re Getting So Desperate, They’re Starting To Offer Huge Incentives To Entice Buyers To Make Offers
A report from CNBC. "'Everybody I know is leaving,' said Michael Kronenberg, who owns a downtown Manhattan apartment. 'It’s not just New Yorkers. My partners, long-time clients and investors of mine that live in Connecticut or New Jersey, they are…
Real Estate Became So Crazily Inflated That This Is The New Reality
It's Friday desk clearing time for this blogger. "A wave of foreclosures is likely coming that will hit low-income homeowners. As of August, over 10% of the eight million single-family mortgages backed by the Federal Housing Administration were delinquent by…
Inventory Has Been Growing Faster Than Sales, And Price Reductions Have Hit Very High Numbers
A report from the Los Angeles Times in California. "If you’re falling behind on rent, don’t just wait for consequences. Your landlord may be open to negotiation. 'Residents shouldn’t hesitate to reach out to their housing provider,' agreed Fred Sutton,…
As Loans Get More Delinquent, That’s When The Real Costs Come Into Play
A report from the South Florida Business Journal. "The Related Group proposed a 37-story apartment building with no on-site parking in downtown Miami. There’s an over-supply of condos on the market in downtown Miami and condo sales have slowed during…