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Most recent articles

Impact of The Election

Image result for trump

We’ll be fine….if sellers stay realistic.

Our real estate needs are just as they were prior to the election—the demand’s there, even with the uncertainty of what’s to come. That’s according to a just-released report by realtor.com®, which surveyed its homebuyer users’ perceptions toward housing in the wake of the election.

Seventy-nine percent of those surveyed said the election had “no impact” on their plans to buy a home, and, in fact, 10 percent said they were more likely to buy a home now that the new administration has been determined—distributed primarily among those aged 45-64, men and those in red states.

The opposite (those under 45, women and those in blue states) said they were less likely to buy, with millennials posting the highest percentage.

The non-effect of the election is also reflected in the traffic patterns on realtor.com—according to the report, listing views on the site have tracked back up to 15 percent since the election, in line with the growth experienced over the summer. Listing views tend to lead demand.

Read full article here:

http://rismedia.com/2016/12/07/non-effect-would-be-homebuyers-unshaken-election/

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Posted by on Dec 8, 2016 in Jim's Take on the Market, Market Buzz | 0 comments

Allman Brothers – Melissa

Gregg Allman wrote ‘Melissa’ sometime in 1967 on a songwriting marathon that yielded 1 good song out of over 200 written, and despite never cracking the U.S. Top 40 charts, it’s remained a classic rock favorite for decades. The late, great Duane Allman loved this song, often asking Gregg to “play me that song – the song about that girl,” and it’s in this 1992 performance  that you get the feeling it was really being played for Duane as much as it was for the audience that night.

Allman, supported by Dickey Betts (on lead) and Warren Haynes, performs a rather sober and soulful rendition of ‘Melissa’ that Duane would have loved. In fact, with Gregg sitting so far apart from his bandmates, it’s almost like he’s recalling those nights after dinner when he’d dig out his guitar and play for Duane.

This performance closed out the final episode of the Dennis Miller Show, a popular late night talk show.

Posted by on Dec 7, 2016 in Wednesday Rock Blogging | 0 comments

Pearl Harbor

arizona

I heard of a 16-year old today who didn’t know about Pearl Harbor!

The Japanese attack on Pearl Harbor 75 years ago was one of the most significant events in world history – it brought America into World War II. There were 2,403 American lives that were lost, and another 1,178 who were injured in the surprise air attack.

Here is a fantastic photo gallery:

http://www.theatlantic.com/photo/2011/07/world-war-ii-pearl-harbor/100117/

My high school is in the parade tonight, #18 on the list below:

http://www.pearlharborparade.org/the-parade

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Posted by on Dec 7, 2016 in Jim's Take on the Market, Military | 0 comments

Trump Tower and Realtors

douglassellman_629.jpg

Hat tip to MM!

http://www.politico.com/story/2016/12/trump-tower-secret-service-amenities-232216

The U.S. Secret Service is the hot, new “amenity” at Trump Tower, where desperate brokers are trying to lure well-heeled clients into the building on Fifth Avenue that has served as President-elect Donald Trump’s home as well as his campaign and transition headquarters.

Less than a week after Trump was elected, prominent New York real estate agency Douglas Elliman blasted out an email with the subject: “Fifth Avenue Buyers Interested in Secret Service Protection?” to advertise a $2.1 million, 1,052-square-foot condo in the tower on 721 Fifth Avenue.

“The New Aminity [sic] – The United States Secret Service,” screamed the flier sent in an email on Nov. 13 for a one-bedroom apartment on the 31st floor, represented by brokers Ariel Sassoon and Devin Leahy.

“The Best Value in the Most Secure Building in Manhattan,” it stated.

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Posted by on Dec 7, 2016 in Jim's Take on the Market, Listing Agent Practices | 4 comments

Climate Change and Real Estate

swamped

This comes from the nytimes.com, not me:

http://www.nytimes.com/2016/11/24/science/global-warming-coastal-real-estate.html

MIAMI — Real estate agents looking to sell coastal properties usually focus on one thing: how close the home is to the water’s edge. But buyers are increasingly asking instead how far back it is from the waterline. How many feet above sea level? Is it fortified against storm surges? Does it have emergency power and sump pumps?

Rising sea levels are changing the way people think about waterfront real estate. Though demand remains strong and developers continue to build near the water in many coastal cities, homeowners across the nation are slowly growing wary of buying property in areas most vulnerable to the effects of climate change.

A warming planet has already forced a number of industries — coal, oil, agriculture and utilities among them — to account for potential future costs of a changed climate. The real estate industry, particularly along the vulnerable coastlines, is slowly awakening to the need to factor in the risks of catastrophic damage from climate change, including that wrought by rising seas and storm-driven flooding.

But many economists say that this reckoning needs to happen much faster and that home buyers urgently need to be better informed. Some analysts say the economic impact of a collapse in the waterfront property market could surpass that of the bursting dot-com and real estate bubbles of 2000 and 2008.

The fallout would be felt by property owners, developers, real estate lenders and the financial institutions that bundle and resell mortgages.

Read full article here:

http://www.nytimes.com/2016/11/24/science/global-warming-coastal-real-estate.html

waterfront

Posted by on Dec 6, 2016 in Interesting Houses, Jim's Take on the Market, The Future, This Is America | 9 comments

NSDCC November Sales

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Here’s the update on last month.  There were two fewer business days in 2014, and one less business day in 2013 and 2015 (same # in 2012).

With both sales AND pricing being this strong, the momentum should carry over to 2017…..and I think we’ll get off to a fast start too.  There has to be some motivated sellers scooting closer to the exits, and buyers who are anxious to lock in a rate and price before they get any worse.

We should be at full speed by March!

NSDCC November Sales

Year
# of Sales
Sales Per B-Day
Median SP
Average $/sf
2012
241
12.68
$885,000
$415/sf
2013
187
10.39
$1,030,000
$474/sf
2014
172
10.12
$1,007,450
$491/sf
2015
193
10.72
$1,187,500
$520/sf
2016
227
11.95
$1,265,000
$544/sf

Posted by on Dec 6, 2016 in Forecasts, Jim's Take on the Market, North County Coastal, Sales and Price Check | 6 comments