1. “Smart home shoppers know the end of the year can mean deep markdowns on houses. If a home hasn’t found the right buyer by December, sellers often sweeten the deal with a price cut. To give your sleigh a push, we found nine examples of gorgeous homes on the market that have all had multiple price cuts.” Here is Realtor.com’s holiday list: Priced to Sell! 9 Discounted Homes Ready for Holiday Shoppers. Happy shopping!
2. WHO”S LAUGHING NOW?
What? Big League Politics reports, Amazon Employees Bought NYC Area Real Estate Before HQ Gimmick was Announced. “Amazon became the target of a massive backlash after helping themselves to a massive crony capitalist feast earlier this month, announcing that they’d be opening two new headquarters in New York City and Arlington, Virginia. A major point of contention between the behemoth company and area residents exploded as it was revealed that one of the world’s wealthiest private companies would be receiving $1.5 billion and $573 million respectively from New York and Virginia state and local governments for the ‘gift’ of the new facilities.” What about the crumbling subway system? Who will invest in the communities around Long Island City?
3. HOT PROPERTIES
“In Palm Springs, the futuristic-vibe residence to which Elvis and Priscilla Presley decamped following their secretive wedding in 1967 has returned to the market at $2.695 million. That’s considerably less than the $9.5 million the Modernist home first listed for, and its $5.9-million asking price last year.” This property is one of several homes featured in the LATimes story, Hot Property: Viva Palm Springs, where Elvis’ honeymoon spot is up for grabs. You may want to check out the photos of this modern property.
4. LIGHT UP!
Anyone putting up lights this year? “Holiday lights fall firmly into two camps. In one, you have the tasteful Martha Stewart fans, Goop-ers, and those who steadfastly believe less is more. And in the other? Those who aspire to turn their property into a cross between Disneyland and/or a rave—with color, noise, and spectacle (not necessarily in that order).” Check out these 10 Tacky Holiday Light Ideas That’ll Burn Into Your Eyeballs Forever, posted by Realtor.com.
5. GOOD NEWS
Curbed reported this week there is Good news for LA buyers? The number of homes on the market is way up. “The spike in the number of homes available for purchase mirrors—and far exceeds—a nationwide trend. Across the country, inventory went up 3 percent since last year, marking the first yearly increase since 2014.” It appears the market is stabilizing. This may be a good thing for everyone.
6. BACK OFF
I love this article. It’s a good read for agents, brokers, buyers, and sellers. All too often we all tend to rush into things too quickly. This Forbes article suggests several ways To Build Better Customer Relationships, Look At Real Estate Like Dating. “At the end of the day, it’s important that agents remember they’re building a relationship with their buyers and sellers. Just like you would with a potential love interest, you have to invest in them. You take them on dates, you learn more about them, you meet their parents and you make them happy.” I think we all know this is good advice, and I really appreciate the reminder.
7. TO CONFORM, OR NOT TO CONFORM
“According the FHFA, the conforming loan limits will rise from this year’s total of $453,100 to $484,350 for 2019. That’s an increase of 6.9% from this year’s loan limit to next year’s.” Housingwire reports Fannie, Freddie conforming loan limits increase in nearly every part of the U.S. This is good news, and I recommend buyers check with their local lender, because they may be able to originate and lock conventional conforming loans immediately using the increased loan limits. They may not have to wait until the end of the year to originate and lock!
8. ANY IDEAS?
Why did Weekly mortgage applications rise 5.5% as homebuyers edge back in. “It may be a greater supply of homes for sale. It may be price cuts on those homes. Whatever the reason, buyers are coming back to the market, and driving mortgage demand”, says CNBC. What’s your experience? We would love to hear from you.
9. MOVE OVER STARBUCKS
It used to be the new Starbucks or Whole Foods stores opening in a neighborhood that brought revitalization to a old neighborhood. “But now that so many states have passed laws favorable to the marijuana movement, the next big thing to bring a neighborhood back from the brink just might be the increasing number of organizations that work in the industry.” Forbes reports this week on How Cannabis Could Become The Next Real Estate Disrupter. Things are changing!
10. DOMINATING THE NEWS
This is the most shared real estate news of the week that’s worth mentioning. Although we may feel far removed in our day to day busy lives it’s an important reminder to focus first on integrity and solid business practices. NPR reports Michael Cohen Admits Trump Tower-Moscow Talks Continued Well Into 2016 Campaign. Apparently, “Trump said he ultimately decided not to pursue a real estate project in Russia, but it isn’t clear precisely how discussions ended over the national Trump Tower in Moscow.” I’ll let you read the story and decide for yourself what you believe may be true.
Have a great weekend!
