Daily Archives: March 2, 2013

Low inventory pushes multiple offers on real estate | Chappaqua Real Estate

The raw number of homes for sale is now at its lowest level in over 13 years, according to the National Association of Realtors, and the numbers continue to fall, CNBC reported.

“Every good property I’ve listed this year has brought 10 to 50 offers and sales prices 10% to 20% over comps,” said David Fogg, a real estate agent in Burbank, CA.

Trulia reveals top real estate listing terms | Armonk NY Real Estate

Trulia ($27.18 3.34%) has launched its Real Estate Lab, which will deliver inside information on the psychology and strategy of how buyers and professionals approach real estate.

The lab will statistically analyze the words and phrases associated with selling homes, allowing Trulia to reveal new insights into national and local housing markets in the U.S.

“With Trulia’s Real Estate Lab, we aim to reveal how consumers and professionals think and talk about real estate, and the strategies they use to buy and sell homes,” said Jed Kolko, Trulia’s chief economist. “Insights from listings and search behavior are the color commentary behind the price trends and other numbers that we regularly track.”

Based on the examination of millions of for-sale homes on Trulia through November 2012, the Real Estate Lab shows which phrases are linked to the most and least expensive homes for sale.

The lab discovered that homes that are marketed as a “magnificent estate” or “once-in-a-lifetime opportunity” are typically listed higher than $3 million. “Paneled library” and “Lutron lighting” also are most often associated with multimillion-dollar listings.

CoreLogic: Sinkholes more common, costly than homeowners realize | Pound Ridge Real Estate

A Florida man who reportedly lost his life as a sinkhole swallowed his entire bedroom sent a chill across the U.S. as more Americans became aware of how unsettling nature can be.

But, unfortunately, sinkholes may be more common than homeowners realize, and the hazard is one insurance companies generally refuse to insure, real estate analytics firm CoreLogic said. 

Even more shocking is that CoreLogic analyzed hazards in the immediate area surrounding the impacted Florida home and discovered there are 16 verified sinkholes within a mile of the residence. 

The state of Florida has 15,000 verified sinkholes altogether, with Pasco County on the West Coast of Florida housing more than 6,000 sinkholes, according to CoreLogic. 

“It’s important to note that not all sinkholes are prone to a sudden collapse like this, and they all obviously represent various levels of risk to people in the area,” CoreLogic wrote in an advisory. “It’s also interesting to know, however, that general homeowners insurance often does not cover sinkhole losses.”

kpanchuk@housingwire.com