Tag Archives: Waccabuc NY Real Estate

China home prices up for 11th straight month in April-survey | Waccabuc Homes

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BEIJING: Average home prices in China’s 100 biggest cities rose in April from the previous month, the eleventh straight month-on-month rise, a private survey showed on Thursday, raising the risk of further tightening steps despite recent government measures to crack down on speculation.

Average home prices in April climbed 1 percent from March to 10,098 yuan ($1,600) per square metre, said China Real Estate Index System (CREIS), a consultancy tied to China’s largest online property firm, Soufun Holdings.

 

 

http://articles.economictimes.indiatimes.com

Distressed Sales Declined to 21 Percent in March | Waccabuc NY Real Estate

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The share of distressed properties on the market continued to decline. About 21 percent of REALTORS® reporting on their last sale in March sold distressed properties, compared to approximately 40 percent in March 2011. This is based on data from the March REALTORS® Confidence Index Survey.

Distressed sales are mostly sold for cash. Distressed sales accounted for 35 percent of cash sales compared to 21 percent of mortgage sales.

 

 

 

http://economistsoutlook.blogs.realtor.org/2013/05/03

Despite hurdles, Cuba real estate market buzzing | Waccabuc NY Real Estate

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HAVANA (AP) — In some ways, Yosuan Crespo‘s real estate office resembles any you might find in New York, London or Tokyo. There are slick posters of hot properties hanging from the ceiling, a steady stream of hopeful buyers and sellers and a constant clack of computer keys.

But Crespo‘s headquarters in central Havana’s trendy Vedado neighborhood is actually somebody else’s breezy front porch. The computer’s only connection to the Internet is a creaky dial-up link, and Crespo is careful to say he’s not operating as a broker, since the job is still technically illegal.

A baffling, sometimes bizarre real estate market has emerged in the year and a half since President Raul Castro legalized private home sales on this Communist-run island for the first time in five decades.

While trade in homes is now legal, the people who bring buyers together with sellers are not. The government has yet to make good on promises to legitimize brokers, most of whom still operate in the shadows.

It’s a story that has been typical of Castro’s economic reforms, which often have left little space for the sort of middlemen and other services that help markets work.

via news.yahoo.com

What a pool brings to home investment | Waccabuc Real Estate

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It can be difficult to estimate what pool repairs may be needed, and if you have, say, 20 minutes to do a full inspection of the house, the “ifs” of a range of $50 to $5,000 can swing your margins in the red quickly. If the home is a short sale, the pool may be sitting for months longer and cost more than you initially estimated, as well, writes AOL Real Estate.

If you have longer to get an inspection, and a pool person is able to give you an estimate on getting the pool back in working condition, then the initial costs may be worth the investment. However, there are further things to consider. Click here to see the full list of what to consider.

via housingwire.com

Why New York rent is so expensive | Waccabuc Real Estate

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There are a few reasons for the rent appreciation. One is that New York has become a much more attractive place to live and work over the last few decades as crime has fallen and other amenities have improved, according to The New York Times’ economic reporter Catherine Rampell.

A second key reason that housing has become so expensive is that as demand for housing from both these occasional visitors and full-time residents has grown, supply has not kept up, writes the Times.

A third key reason housing is so expensive, related to the first one I mentioned, is that a lot of amenities that wealthy people like are bundled into the price of an apartment in New York, including a high concentration of bars, restaurants and theaters, and a greater variety of high-end goods.

Given the better pay in New York, housing costs are actually less onerous than they might seem, writes the Times.

Read the full report by Rampell in the Times here.

via housingwire.com

Desire a Masonic temple? Detroit temple is heading for foreclosure auction | Waccabuc Real Estate

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Masonic Temples are staples in many U.S. cities, but one of them is having a tough go of it in this economy.

The 14-story Masonic temple in Detroit is in foreclosure, with its current owners owing well over $150,000 in back taxes.

The ABC affiliate in Detroit says the building – once the hang out of dozens of Masons – is slated for a September tax foreclosure auction.

via housingwire.com

Fiscal fears hurt Hamptons housing market | Waccabuc NY Homes

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In the first quarter, sales of expensive Hamptons homes fell off the fiscal cliff.

Fear of higher taxes in 2013 drove a flurry of high-end house sales in the Hamptons at the end of last year. That front-loading of sales slowed down the top of the market in the first three months this year, experts said Wednesday, citing data from a report scheduled to be released Thursday by broker Douglas Elliman Real Estate and prepared by appraisal firm Miller Samuel Inc.

On the rest of Long Island — excluding the Hamptons and North Fork — housing inventory declined sharply in the quarter, according to the report. Houses listed for sale fell to 15,303 in the first quarter, down from 20,358 a year earlier, as homeowners wait to rebuild equity and see where prices head. Average prices rose in the first quarter to $435,082 from $415,243 a year earlier.

Hamptons houses sold for an average price of $1.2 million in the first quarter of 2013, down from $2.1 million in the previous quarter and $1.7 million a year earlier, the report said. The fall doesn’t signal a decline in prices so much as a shift in timing, said Jonathan Miller, president and chief executive of Miller Samuel.

Buyers, Miller said, tried to close “by Dec. 31 because the general assumption was a tax environment would be higher in 2013.”

Miller said 49 houses in the Hamptons sold for more than $5 million in the fourth quarter but only eight in the first quarter.

The so-called “fiscal cliff” threatened a mix of automatic tax hikes and spending cuts in 2013. Congress agreed to limit the tax hikes while increasing rates on the highest earners — those likeliest to be worried about capital gains on the sale of multimillion-dollar homes.

While the average price in the Hamptons swung, the median price was more stable, falling to $740,000, a 5.1 percent drop compared with a year earlier.

“The top end of the market has taken a breather,” said Douglas Elliman broker Paul Brennan. “Other than that everything is pretty normal.”

via newsday.com

Housing report disappoints for investors | Waccabuc Real Estate

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By midday, the Dow Jones industrial average briefly popped higher, while the S&P 500 edged up 0.2% and the tech-heavy Nasdaq gained 0.6%.

Investors were disappointed by an industry report showing that existing home sales slipped 0.6% in March from the prior month. Analysts expected the sales rate to rise, writes CNNMoney.

via housingwire.com