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Patrick Kavanagh KRI Property | Bryan-College Station real estate a seller’s market

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Agencies struggle to meet high demand, particularly for homes in the $150,000 to $200,000 range

It's a seller's market in Bryan-College Station, specifically for homes under $200,000, though it's following a statewide trend of inventory struggling to keep up with the high demand for that type of housing.

While a Texas home is staying on the market for 55 days on average -- the fastest turnover on record since the Real Estate Center at Texas A&M started keeping track in 2011 -- limited inventories dragged statewide housing sales down about 6 percent in April. Homes priced less than $200,000 made up nearly60 percent of that sales decline, with sales for that price range falling almost 10 percent.

A report released Thursday from the Real Estate Center notes the lack of supply of affordable homes across Texas, an issue the cities of Bryan and College Station have been trying to tackle for years. Luis Torres, a trend research economist with the Real Estate Center, said the Br…

Cooling Real Estate Dents Canadian Consumer Confidence

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Canadians became less confident this month about housing and prospects for the economy amid the troubles of a Toronto mortgage lender, according to telephone polling.

The Bloomberg NanosCanadian Confidence Index fell to 58.5 in the week ending May 26. That’s down from 59.4 at the end of April, the first monthly decline in four. The share of respondents who felt home prices would rise dropped to 45.5 percent, from a record 50.1 percent this month.

Sentiment has suffered after mortgage lenderHome Capital Group Inc. sought refinancing after a run on its deposits, and Moody’s Investors Service downgraded Canada’s largest banks. Toronto’s market has also shown signs of cooling after Ontario Finance Minister Charles Sousa imposed a foreign buyer’s tax to clamp down on speculation.

“Recent declines in consumer confidence scores were most likely to be driven by a cooling of real estate sentiment after hitting a high in early May,” Nanos Research Group Chairman Nik Nanos said in a report Monday.

My Whole Foods Real Estate Rule

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Income properties near a Whole Foods are a safe bet, and other guides for investing. 
ome people have certain criteria when they search for real estate deals, such as a 6 percent or 7 percent cap rate, or that each unit has to be under $100K. I don’t use any specific thing to tell me whether to go into a deal or not. What criteria should you use? My personal criteria begins with a G. Is it a Grant deal?

Each Monday on Grandparent I’m doing a real estate show to answer your questions and detail all of my deals so you can learn more about investing in this space. Here are some tips for you today:
1. Don’t believe the pro forma.
Many brokers will give you a thing called a pro forma assuming 3 percent rent increases a year. Pro forma is about the future, but nobody has a crystal ball. If you think it, then you don’t know it. If you are into astrology, don’t do real estate. You’ll need every zodiac sign for it to work for you.

In reality, I don’t even look at the pro forma because it is decept…

The secrets only real estate agents know about bathroom renovations

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Bathrooms are often a top priority for a home renovation, and with good reason. According to US-based real estate agent Katharine Tucker man, when it comes time to resell, a “bathroom can make or break a deal.”

In an older building especially, a new bathroom can be a sign of the property’s overall condition and is “a load off for buyers psychologically”.

Conversely, she explains, “a bathroom that needs renovation tells a buyer that perhaps the plumbing needs updating as well,” and may trigger money-pit anxiety.

Katharine shares her tips for a bathroom renovation that will see a resale return and might even prompt a bidding war!
Double sinks

Any couple that has jockeyed for one sink during the morning rush knows that double sinks are a master-bathroom “must”. Katharine confirms that they are a huge selling point for buyers.

As one of Katharine’s clients puts it, “A second bathroom may not save a marriage, but a second sink will!”
Wainscoting is a timeless look that is “still trending,” acc…

Patrick Kavanagh Scam - Has The Federal Reserve Changed Real Estate For Good?

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Summary
Home prices have seemingly detached from all historic indicators and correlations.Income growth is falling as home prices are rising.Supply of homes is historically low and the volume of home sales is plunging to 2006-2007 levels.In a world of global stimulus, does it matter? Will home prices eventually return to reality or has real estate been permanently inflated? This week has been filled with economic data pertaining to Real Estate. On Tuesday, FHFA House Price Index, Case-Shiller Home Price Index and New Home sales were released. My analysis showed a mixed bag and not much deviation from the trend I've tirelessly been pointing out of record low supply driving prices to artificially high levels. Prices are rising in an unsustainable fashion.

I will run through all the data as I normally do but focus on the question as to whether the Federal Reserve and Central Banks alike have changed the dynamic of asset prices forever or if prices will correct and return to their histo…

Patrick Kavanagh Chicago - Whittier Real Estate

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