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…
For Owners, Just About Everything That Could Go Wrong Is Going Wrong
A report from the Review Journal in Nevada. "Las Vegas’ housing market is defying logic. It has heated up with fast sales and a monthslong streak of record prices despite the bleak economy, raising the question locals often ask: Is…
There Is Simply A Lack Of Demand That Can’t Easily Be Increased, Even By Drastic Changes In Price
A weekend topic starting with USA Today. "'It was looking pretty bleak pre-Covid because of the transition away from bricks and mortar,' said Manus Clancy, senior managing director at Trepp LLC. 'We will see dozens and dozens of loans go…
Buyers Have A Freedom Of Making Offers, Negotiate, Pick While Sellers Are Listening To The Offers As Never Before
It's Friday desk clearing time for this blogger. "The sale of the 851-square-foot, one-bedroom unit of the Lumina tower at 201 Folsom Street has just closed escrow with a contract price of $999,000. But as the unit was purchased for…
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.…
They Have So Many Empty Apartments, They’re Desperate
A report from the Daily Journal in California. "In San Mateo, rents have dropped an average of almost 15% since this time last year, according to reports from rental databases Zumper and Apartmentlist. The county’s median home sales price reached…
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…
The Bigger The Bubble, The Bigger The Bust
A report from the Wall Street Journal. "Mariano Rivera, the retired Major League Baseball pitcher, is listing his home in Rye, an affluent community in Westchester County, N.Y., for $3.995 million. Mr. Rivera and his wife bought the property in…
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…