Who is selling? I haven’t checked in a while! This chart tracks when the home was purchased by the sellers. Today’s numbers are from those sold between Jan 22 and Feb 14 of this year:
Year Purchased
6/18/16
12/13/16
4/3/17
6/30/17
12/4/17
2/16/20
0 – 2003
39%
57%
48%
32%
47%
34%
2004 – 2008
24%
19%
15%
12%
15%
18%
2009 – 2011
13%
6%
7%
14%
10%
4%
2012 – 2019
19%
13%
25%
34%
24%
35%
New Home
5%
4%
4%
7%
4%
9%
The long-time owners aren’t moving as much as they used to! Those who have purchased since 2012 have no problem selling for a decent-to-huge gain, and more of them have been taking their profits – and hopefully buying another.
There were four flippers in today’s 2012-2019 group.
This 3,000-square-foot home in Phoenix is made up of stackedshippingcontainers, but you’d never know it once you walked inside. It’s modern, open designed interiors matches the style and spaciousness of any other single-family home today.
Homes constructed ofshippingcontainers are drawing more attention in the building industry. These homes are flood and fire-proof, eco-friendly, energy efficient, and there’s certainly no shortage of them to transform. Worldwide, an estimated 24 million emptyshippingcontainers are retired, just waiting to find a new purpose. Could real estate be it?
Some housing experts predict shipping containers to make up a bigger footprint of homes and buildings in the future. One shipping container can be transformed into a tiny home, several molded together could form a standard-sized single-family home, and hundreds stacked together in a Lego-like way could make for an apartment complex. Shipping containers can also be transformed as add-ons to existing homes, such as a garage.
But can ashippingcontainer be stylish? Shara Terry, a real estate pro with Berkshire Hathway HomeServices Arizona Properties in Phoenix, certainly thinks so. She’s listing a three-bedroom, four-bath single-family, shippingcontainer home for $610,000. The home, which is a hybrid of two stacked containers on its east side and two stacked on its west side, is designed byengineer Jorge Salcedo and Colombian architect Gregorio Baquero.
“A lot of people who’ve visited it have been curious, and they can’t believe it used to be a shipping container once they step inside and they see how open and seamless it is inside,” Terry says. “There really are only two subtle reminders in the interior that show a portion of the red container,” but even those have been blended into the overall decor. The exterior includes some writing on the containers that were preserved for character, including a stamp in Vietnamese showing its former location.
Cassidy Claire Risien, 34, is an actor and artist living in Los Angeles but, even with her day job as a spin instructor, her budget is tight.
Despite that, she lives in a newly renovated townhouse in trendy Venice, California — just seven blocks from the beach.
“I had been living by myself and it was no longer sustainable,” she said. In an online search for rentals in her area, she set the price range to its lowest setting and a communal living, or co-living, option popped up among the results.
Now Risien pays less than a $1,000 a month to live at Haven, a co-living community.
Co-living spaces bring together a group of people, likely strangers, in a shared space. Often, there are private sleeping quarters but the kitchens and work areas are communal spaces.
For many like Risien, sluggish wage growth and sky-high rents in many cities have made it unaffordable to live alone.
Ever since the SALT cap went into effect in 2018, the hunt has been on for signs that it has prompted more wealthy residents to move from high-tax to low-tax states.
“Despite some recent claims that it has,” Lucy Dadayan of the Tax Policy Center wrote on Feb. 10, “the data available support the view that ‘We don’t have any idea.’”
News articles crop up from time to time about things like surging purchaser interest in Florida condos from residents from New York or California. But they’re anecdotal, not data-driven. It’s hard to say whether the interest doesn’t reflect the pretax bill trend or bargains left over from a lengthy Florida real estate slump.
“Migration has been a problem for a number of years,” Dadayan told me. “SALT cap or not, New York has to be concerned about losing people.” Internal Revenue Service statistics show that New York lost more than 76,000 taxpayers from 2017 to 2018, nearly 1% of its taxpayers and the largest outflow among high-population states.
But as Dadayan observes, attributing that migration to concerns about high taxes in general or the SALT cap specifically is another matter. The top destination for fleeing New Yorkers in recent years has been California, which has a higher top income tax rate. “Migration is not necessarily determined by taxes,” she says.
The SALT cap raised hackles in high-tax states. New York Gov. Andrew Cuomo pronounced it “an economic civil war that helps red states at the expense of blue states.”
Pinpointing the relationship between the SALT cap and interstate migration is difficult for several reasons. One is that it’s too early to tell. The Internal Revenue Service has released taxpayer data only through the 2017 tax year; statistics for 2018 tax payments won’t be available until December.
It’s Michael’s 68th birthday today – happy birthday! This includes the all-time favorite comment by Patrick Simmons in the first 20 seconds that acknowledges Michael for his contribution. “We will love you more than you’ll ever know”:
Richard was the listing agent in 2014 when Tamara’s clients paid $620,000 for this 1,296sf Encinitas house built in 1974. At the time, it was tenant-occupied and in its previous condition – I dubbed it a ‘light fixer’:
They put in the work, and listed it last week for $879,900 – here’s what happened:
