D.C. Metro & National Real Estate News

Feb. 22, 2019

Good Morning 2.22

Good morning,

DID YOU KNOW? The stock price of Purplebricks, the online real-estate company fell around 25% yesterday after warning that its full-year revenues would be lower than expected and that some of its top executives are leaving. Purplebricks which charges homeowners an upfront fee to market their property online, said its international businesses in Australia and the U.S. are performing below expectations and that Lee Wainwright, UK chief executive, and Eric Eckardt, its U.S. boss, will depart. (Marketwatch)

 

DID YOU KNOW? Existing-home sales ran at a 4.94 million seasonally-adjusted annual rate in January,  lower - by 1.2% - than the 3-year low they hit in December. They were 8.5% lower than a year ago. Inventory is a major cause: at the current pace of sales, it would take 3.9 months to exhaust the available supply. First-time buyers made up only 29% of all transactions during the month, well below their long-term average 40% share, speaking again to affordability. Sales increased by 2.9% in the Northeast, but down 2.5% in the Midwest, 1.0% in the South, and 2.9% in the West. (Marketwatch)

 

DID YOU KNOW? Could this be another reason for inventory shortages in areas? If you plan to live in your home till death, and your estate is below the unified federal estate gift and estate tax exemption amount ($11.4 million for 2019), staying put could be your best strategy. When you die, your home’s tax basis will be stepped up to fair market value as of the date of death. So you and your heirs will escape capital-gains tax on all the appreciation that occurs up to that date. And, because the value of your estate is below the estate tax exemption, your heirs will owe no federal estate tax. (Marketwatch)

 

Have a Great Day!

Posted in Real Estate News
Feb. 21, 2019

Good Morning 2.21

Good morning,

DID YOU KNOW? What will the world economy look like in 2050? According to a recent report by PWC, the cumulative global GDP growth between 2016 and 2050 will be 130% while the projected share of China of the world's GDP at PPPs by 2050 will be 20%. (Estimated) Ranking in 2050 by Country:

1. China

2. India

3. United States

4. Indonesia

5. Brazil

6. Russia

7. Mexico

8. Japan

9. Germany

10. United Kingdom

Emerging markets could grow almost twice as fast advanced economies on average. Note how Italy and France fall from the TOP 10 world economies.

 

DID YOU KNOW? Today, more than 50% of the world's population live in urban areas. 1.5 million people are added to the global urban population every week. 90% of this urban population growth will take place in African and Asian countries with rapid urbanization placing huge demands on infrastructure, services, job creation, climate and environment. This global urban transition presents significant opportunities too, with vast potential for emerging cities to act as powerful and inclusive development tools. (PWC)

 

DID YOU KNOW? In 2015, 85% of global GDP was generated in cities.

 

DID YOU KNOW? While sustainable cities occupy only 0.5% of the world’s land, cities consume 75% of its natural resources and account for 80% of global greenhouse gas emissions.

 

DID YOU KNOW? Rents increased 3% for the full year 2018. High-end segment rent growth accelerated and low-end segment decelerated in December 2018 compared with December 2017. Houston had the slowest annual rent increase of the 20 analyzed areas in December. U.S. single-family rents increased 3.1% year over year in December 2018, up from a 2.9% increase in December 2017. Single-family rents climbed steadily between 2010 and 2018. Annual rent increases have stabilized, fluctuating between 2.7 - 3.2% for the past 12 months. Rent increases averaged 3% for full year 2018, a pick up from 2.7% in 2017. Rents on lower-priced rentals increased 3.7% year over year and higher-priced rental homes (rents more than 125% of the regional median rent) increased 2.9% year over year.  (CORELOGIC)

 

 

Have a great day!

Posted in Real Estate News
Feb. 20, 2019

Good Morning 2.20

Good Morning,

 

DID YOU KNOW?  A 2017 report published by the National Real Estate Association found that foreign buyers purchased $153 billion worth of residential properties in the USA between April 2016 and March 2017, a $102.6 billion increase over the previous 12-month period.

***Most foreign buyers (58%) reside primarily in the USA. 

***Chinese foreign buyers were at the top of the foreign buyer list (in 2016 to 2017, they spent  $31.7 billion)

***In 2016-2017, the second most prominent group of foreign investors were Canadians, who spent $19 billion on U.S. real estate.

(From an article on 6sf that featured Compass agents Victoria Shtainer and James Morgan)

 

 

DID YOU KNOW?  Food, Fitness, Furniture, Fun and Physicians. These are the 5 classifications of physical bricks-and-mortar retail that may have an online-immune future.....

 

 

DID YOU KNOW?  In a 2018 Salary.com survey, 47% of 3,164 workers said  “too many meetings” was the top time-waster. Doodle estimates that 700 million hours will be lost in U.S. workplaces this year to unnecessary or wasteful meetings. Here are some solutions:

***A 1998 Verizon survey of more than 1,300 company managers showed 79% of them reported that the meetings they initiated were extremely or very productive, but only 56% said the same about meetings initiated by others. Clearly those running meetings and attending them are not aligned.

***Bain & Company found that for each additional person over 7 members in a decision-making group, decision effectiveness is reduced by approximately 10%.

***One-hour meetings allow people to arrive late and be less focused: Try a 48-minute rule in place of an hour, for example, to create focused, efficient discussion.

***A 2003 survey of 187 companies detailed in the Harvard Business Review found that many agendas were typically standard boilerplate, repeated at every meeting, or made up on the spot: An effective agenda works like a plan for an event: It has clear goals or key questions to answer. To get there, consider a pre-mortem: envision how the meeting could go wrong and devise a strategy to prevent it. Ask attendees for agenda items and assign ownership. (WSJ)

 

 

 

DID YOU KNOW?  The most common poor security practice is reusing the same password for multiple websites: 82% of people admit to doing so. (Marketwatch)

 

 

 

DID YOU KNOW?  The Texas Senate Property Tax Committee voted this week to send Senate Bill 2 to the full Texas Senate for review that would place a 2.5% cap on annual property tax growth. Anything above that would require voter approval. (KXAN)

 

 

 

DID YOU KNOW?  21,357 homes were listed for sale in January across the entire Los Angeles metropolitan area, a 30% increase since a year ago and the highest number since 2016. Buyers now have more options possibly reducing bidding wars. About 26% of homes in the LA metro area sold above asking price in December, down from around 5% throughout 2017. (Curbed)

 

 

Have a great day! 

Posted in Real Estate News
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates