Tuesday, September 27, 2016

US Housing Market Moving Further into 'Buy Territory'

US Housing Market Moving Further into 'Buy Territory'

US Housing Market Moving Further into 'Buy Territory'| Keeping Current Matters According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question:

In today's housing market, is it better to rent or buy a home?

 

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers "measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds." Ken Johnson, Ph.D., Real Estate Economist & Professor at Florida Atlantic University, and one of the index's authors explains that:
"Housing prices, in general, continue to slow and when considered in light of the recent trends in the Buy vs. Rent Index signal that ownership remains an excellent investment for the majority of Americans."
While 15 of the 23 metropolitan markets examined moved further into buy territory since last quarter, Dallas, Denver, and Houston are three of the major cities that are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times. Eli Beracha, Ph.D., Assistant Professor in the T&S Hollo School of Real Estate at FIU, believes that, in these three markets, the "strong odds in favor of renting to create more wealth should begin to have an impact on the demand for home ownership and from that, impact property prices in these areas." Simply put, home prices in these areas will begin to return to more normal levels once residents realize that renting may be a better choice, therefore bringing home affordability back as well.

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now. To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/buyvsrent. #jamesonsothebys#premiersothebys



Wednesday, September 21, 2016

Another great Zillow review!


Another great Zillow review! #lovemyclients #jamesonsothebys #premiersothebys 
******Highly likely to recommend
We first met Ron when walking back to our apartment after brunch with friends. He was sitting outside this gorgeous condo building a block down the street from our apartment. He greeted us as we were walking toward the building. My partner saw the real estate sign in the front yard of the building, and she suggested we just take a look even though we were planning on investing in a property the next year. It was love at first site. The condo felt like home as soon as we walked in. Ron was so warm, welcoming, and genuine. This was my first home purchase, and he held our hands through the entire process with such care. In the future when I am looking for another property to invest in I'm calling on Mr. Ron Goldstein! Also, he conducts business in Florida, which will come in handy when my brother-in-law and his partner are looking to purchase a new home down south. Also, my mother/father in-law will be looking to sell in a year or so, and we will be calling on Ron then as well. I highly recommend Ron as your real estate broker -
chicagoluxuryrealty.com stpeteluxuryrealty.com (c)312-771-7190
Offices in Chicago and St.Pete-Sarasota
 






Monday, September 12, 2016

NEW TO MKT. 9600 Milwaukee -Great Investment property NWC of Golf/Milwaukee








NEW TO MKT. 9600 Milwaukee  *Investment property NWC of Golf/Milwaukee (across from Golf Mill) *23,485SF *Zoned C-2 *any stand alone retail possibility *Traffic Count 24 hrs..39,000+vehicles *Property consisting of Nickys Bar(4AM liquor and just acquired gaming license for 5 machines w/a proforma minimum of $30,000/month)- Bar will entertain lease back option) *Metro PCS and Kore Com. Gross Income of $56,052/year from 2 retail tenants – 5 year leases beginning 3/2016 w/1-5-year option-Tenants pay own RE taxes $1.748

Thursday, September 8, 2016

Fall into.. Possibilities

Check out some of these great properties and my newest listings in Chicago and St. Pete-Sarasota and Fall into..Possibilities #jamesonsothebys#premiersothebys#chicagoluxuryrealty#stpetelxuxuryrealty#sarasotafloridaluxuryrealty
Fall into.. Possibilities..2.5 acres of vacant commercial land, zoned for 22 units, in Port Charlotte, Florida. Located in a great location a few blocks from I-75. Perfect for small or medium-sized investors and developers. Ideal for multi-family or senior living. Build it and they will come! Priced right@ $349,800- MLS# is U7780588

Fall into..Possibilities.. 5,200+ SF of culinary and entertaining open space, this home offers luxury details at every turn, in the heart of Lakeview. Tend to your organic fruit & vegetable garden oasis then use your California Wooden gas-fired pizza oven and Cook's outdoor kitchen. Sip your Old Vine Zinfandel in the wine tasting room with your friends. Enjoy the latest movie blockbuster on your beautiful pergola with fire pit. Next morning, work it out in your exercise room and then retreat to the sauna and steam spa showers. Sophisticated and luxurious retreat that reflects that magical merging of inspiration and architecture. Carpe Diem- this is living!#1540wgeorge#jamesonsothebys Priced right@$1.748

Fall into..Possibilities.. Chic and classy total renovation in this spacious corner unit 2/2 Gold Coast condo on a historical tree-lined street. Chef's gourmet kitchen open to living room, remote/auto. window treatments, in-unit laundry with utility sink, roof top deck, pool & 24 hour doorman. Organized closets and built-ins throughout with tons of storage. Carpe diem-where luxury meets affordability.Priced right@$599,800 #1325nstate#goldcoast#jamesonsothebys

Fall into..Possibilities
Every development is a masterpiece… Showcase your waterfront property 30 miles from Chicago. The RG Group proudly presents Lake Renwick Point - 3 acres on a magnificent island-like parcel with panoramic views of the Lake Renwick heron rookery and nature preserve. The property provides a wide variety of residential, commercial or mixed use development possibilities; or retain as a private estate sanctuary. Priced right@$1.998

Fall into..Possibilities..Just adjusted again for your Wilmette/New Trier clients..Priced below appraisal..Spacious and light filled ranch on nearly ½ acre on private cul-de-sac. Great room with soaring cathedral ceilings and windows throughout. Beautiful kitchen opens to dining room/living room with fireplace. Attached 2½ car garage and two large decks/patios with abundance of green space. Carpe Diem - move right in and enjoy the ease of one story living. MOTIVATED SELLER! Priced now @544,800 114 Lockerbie Ln.#jamesonsothebys


 *Investment property NWC of Golf/Milwaukee (across from Golf Mill) *23,485SF *Zoned C-2 *any stand alone retail possibility *Traffic Count 24 hrs..39,000+vehicles *Property consisting of Nickys Bar(4AM liquor and just acquired gaming license w/a proforma minimum of $30,000/month)- Bar will entertain lease back option) *Metro PCS and Kore Com. Gross Income of $56,052/year from 2 retail tenants – 5 year leases beginning 3/2016 w/1-5-year option-Tenants pay own RE taxes. Priced@$1,748,000



Monday, August 22, 2016

It's Almost Labor Day and my home hasn't sold yet.Why?

 

 

If the listing for your home hasn’t been attracting buyers for a few weeks in a fast-paced real estate market, or for a few months in a slower one, you certainly have good reason to be worried. 

 




A home doesn’t sell due to a variety of factors, some of which you can control and some of which you can’t.
Let’s start with the things you can control, which also happen to be the most important elements of any home’s appeal to buyers: price and condition.



Price Your Home Right, From the Start
As I tell my clients in the beginning, the correct price for your home is based on a thorough comparative market analysis (CMA). The reason it’s so important to price your home appropriately from the beginning is that a home that’s priced too high will languish on the market without any offers.
Even if you lower the price later, you will have lost the momentum of the initial listing period and buyers will assume there’s something wrong with the home. Eventually you may sell it, but more than likely the final sales price will be lower than your correct initial price would have been. Price your home too low and you have lost out on potential profit. Buyers today don’t care what you paid for your house when you bought it. They don’t care if you make a healthy profit when you sell. They only care about paying a fair price in today’s market.
Your price should be based on current local market conditions, not on what you need to pay off your mortgage, what your neighbor sold her place for a year ago, nor your guesstimate of what your home is worth. The comparative market analysis (CMA) will look at recent sales, homes that didn’t sell and were pulled off the market, and current listings to guide your price decision. If there aren’t any buyers making offers on your property, it might be time to lower your asking price.

Condition of Your Home- DeClutter and Curb Appeal
Regardless of your local market conditions, buyers have high expectations for your home, beginning with the exterior. While you don’t necessarily have to spend a lot of money, you do need to raise the level of your home’s curb appeal with some sweat equity. Pull weeds, trim the grass, plant a few flowers and perhaps paint your front door to make sure prospective buyers don’t decide to drive away.
Inside, your home needs to be consistently clean, neat, decluttered and depersonalized so that buyers can visualize themselves living there. Your Broker should be able to suggest ways to prepare your home for a sale, which, by the way, is nothing like the way you live in it. Your kitchen counters should be cleared, your bed always made and your dishes always put away in case a buyer wants to visit.


Marketing Your Home
When you choose a REALTOR® to list your home, make sure you ask about photos and a marketing plan. 98% of buyers look online first at properties so it’s crucial that your home has multiple professional-quality photos that make it look as enticing as possible, and that your home appears on multiple websites so buyers can see it. A listing without a photo or with one badly lit photo isn’t likely to generate many offers.

 Make Your Home Available
One of the more challenging aspects of listing your home for sale is that you must make it available to buyers as easily as possible. Buyers prefer to see a home without the owner there, so make sure there’s a lockbox at your property and that you allow nearly unlimited access to prospective buyers.

 Overcome Challenges
Sometimes market conditions or a specific flaw in your home make it tougher to sell as quickly as you would like. I can help you evaluate the market and let you know if you need to offer particular incentives, such as closing-cost help. If your home has an awkward floorplan or is located on a busy street, allow me the opportunity to come up with ways to emphasize its positive aspects and deemphasize any negative aspects, such as by staging the backyard or highlighting the renovated kitchen.
#chicagoluxuryrealty.com #stpeteluxuryrealty.com
Ron Goldstein | Vice President, Sales
Jameson Sotheby’s International Realty 
55 East Erie Street, Suite 1C
Chicago, IL 60611

C: 312.771.7190
C: 727.619.4LUX

stpeteluxuryrealty.com

Thursday, August 18, 2016

5,200+ SF of culinary and entertaining open space-Heart of Lakeview-Carpe Diem- this is living!



5,200+ SF of culinary and entertaining open space, this home offers luxury details at every turn, in the heart of Lakeview and Burley school district. Tend to your organic fruit & vegetable garden oasis then use your California Wooden gas-fired pizza oven and Cook's outdoor kitchen. Sip your Old Vine Zinfandel in the wine tasting room with your friends. Enjoy the latest movie blockbuster on your beautiful pergola with fire pit. Next morning, work it out in your exercise room and then retreat to the sauna and steam spa showers. Sophisticated and luxurious retreat that reflects that magical merging of inspiration and architecture. Carpe Diem- this is living!

Priced exclusively @ $1,748,000




Ron Goldstein | Vice President, Sales
Jameson Sotheby’s International Realty 
55 East Erie Street, Suite 1C
Chicago, IL 60611

C: 312.771.7190
C: 727.619.4LUX