1. Over 1,000 investors believed investing in Sanctuary Belize was a great investment. The New York State news organization, The Real Deal reported this week “The Federal Trade Commission and U.S. Attorneys in Maryland temporarily shut down an alleged $100 million real estate scam in Belize, the FTC announced Thursday. The FTC said the scheme was the largest real estate fraud the agency has uncovered in its history.” Read the entire article, Feds shut down alleged $100M real estate fraud in Belize to see how convicted felon Andris Pukke, an American, placed ads on Fox News to attract retirees.
2. GO GREEN
We’re always looking for new decorating ideas, right? “As we enter the busy holiday season, taking the time to give our porches or entryways a seasonal look both for fall and then again — almost immediately — for winter can feel like a push. This year, save some time by choosing decorations that can easily be transitioned between seasons.” Read Houzz to see the 9 Porch Decorating Ideas to Use From Thanksgiving to New Year’s they recommend.
3. WE’RE ALL WINNERS!
“A decade after the U.S.’s bust and Canada’s boom, things look surprisingly similar in the two housing markets.” Read the HuffPost article, U.S. Vs Canadian Real Estate: Who Won And Who Lost? They have added a couple of infographics to give you a better visual to what’s happening in the real estate market.
4. TEARING DOWN THE HOUSE
Erica Sweeney said “When my husband and I bought our first home 11 years ago, we knew it needed some work. Yet after a decade of mulling over possible remodels, last year we took a much more drastic approach: We tore down the house and built a new one in its place.” She and Realtor.com share with us 7 Painful Lessons I Learned While Tearing Down and Rebuilding My House. If you are even considering a remodel, there are some valuable lessons here.
5. PROCRASTINATOR?
More than 2 million homeowners just missed their chance to save money by refinancing, says CNBC. “Mortgage rates are nearly a full percentage point higher than they were at the start of this year. As a result, the number of borrowers who could have benefited from a refinance this year alone dropped by 56 percent, according to a new report from analytics firm Black Knight.These borrowers missed out on average monthly savings of about $252.00.” With this changing market, it appears homes are getting less affordable.
6. IN LUXURY NEWS
We do the everyday news, but in Southeby’s, Art of Living does the news Southeby’s style. Check out this weeks Luxury Real Estate Headlines: Week of November 5, 2018. “Explore highlights from last week’s top luxury real estate news stories, including an extraordinary oceanfront property in Pebble Beach with panoramic views and a former gymnasium converted to a luxury penthouse in New York City.” Go check it out, it’s a quick read and there are links to some incredible real estate “eye candy”.
7. SKOOLI”
The tiny house movement is alive and well. Having lived in many small spaces the last five years, I am drawn to small spaces, done well. Newsday reports a Lindenhurst woman turns school bus into tiny home. “The 225-square-foot mint-blue “skoolie” includes wood floors, heat and air-conditioning, a kitchen, dining area, living room, bathroom with a shower and a rear lounge area complete with a flat-screen TV.” Take a walk through with the owner/designer.
8. REAL ESTATE ENVY
I love clean lines and comfortable design features. Although I will never own a NYC bachelor apartment, if I did, this is what it would look like. In this NYT article The Grown-Up Bachelor Pad, you’ll see what I mean. As with any beautiful design work, it comes with a hefty price tag, “The living room has built-in walnut cabinets and shelves, and a bar with brass trim, fabricated by Bednark Studio. The Zio dining table (from $5,368) and chairs (from $1,276) are by Marcel Wanders for Moooi. The chandelier is vintage, from the 1950s.” Click through to the article and see some photos of the apartment.
9. STOCK TANK
Did Zillow start buying and selling homes at the wrong time? “As CNBC points out here, Zillow missed estimates from Wall Street for its Q3 revenue, posting $343 million compared to the $344 million analysts had predicted. But the company’s new business segment, its direct home buying business called “Zillow Offers,” saw a quarterly revenue of $11 million, overshooting company expectations of $2 million and $7 million.” Housingwire reported this week that Zillow stock tanks. “The company (Zillow) also disclosed that it purchased 168 homes and sold 36 homes through Zillow Offers for the third quarter and is expecting to hold 300 to 550 homes in inventory as of Dec. 31, 2018.” What will happen if demand continues to decreases around the country and their sitting on 500 homes? Hmmm…
10. INSULATE YOURSELF
Sometimes your home inspection uncovers some important issues (like poor insulation) you may ask the seller to address prior to closing. Once addressed, you may learn the seller has no intention of fixing those issues prior to closing. In a NYT article Winter is Coming, Jen Miller speaks of “the home inspection I had before I bought it revealed that the sewer pipe was cracked and the crawl space needed to be waterproofed. But it didn’t tell me that my attic insulation was worthless or that the previous owner’s renovation had covered up a vent in the kitchen with linoleum and a refrigerator, which is why the kitchen was boiling in the summer, even when the oven was off.” The important take away here is be prepared to accept any issues, negotiate until you reach understanding, or even walk away from a home, to better insulate yourself from unforeseen expenses down the road.
Have a great weekend!
