Priciest Homes on the Market

After trying to sell his Palm Beach home, Maison de L’Amitie, for two years at $125 million in March, Donald Trump knocked $25 million off the price.

It was the largest discount ever for a single residence not involved in a bankruptcy proceedings.

As Trump’s experience proves, even the most expensive homes aren’t immune to the current economy, but overall, "Inventory is relatively tight for trophy-type properties," says Jonathan Miller, president of Miller Samuel, a Manhattan real estate appraisal firm

Miller says the inventory of Manhattan homes priced at $8 million and up has declined by 35 percent over the last year. "If we were having this conversation six to nine months ago, we'd say it was Wall Street bonuses," he says, "but the weak dollar has certainly played a role," by attracting foreign buyers.

In addition, sellers like Trump are increasingly flexible. "The resistance has lessened,” says Nelson Gonzalez, a broker at Esslinger-Wooten-Maxwell in Miami Beach. “Smarter sellers are dropping their prices, and buyers are coming up a little bit more to make deals."

Here are the top-nine priciest homes on the market now:

$125 million, Fleur de Lys Beverly Hills, Calif.
$125 million, Dunnellen Hall, Greenwich, Conn.
$100 million, Tranquility, Lake Tahoe, Nev.
$100 million, Maison de L'Amitié, Palm Beach, Fla.
$95 million, Hillandale, Stamford, Conn.
$88 million, BootJack Ranch, Pagosa Springs, Colo.
$85 million, Bel Air, Calif.
$80 million, Southampton, N.Y.
$75 million, The Portabello Estate, Corona del Mar, Calif.

Source: Forbes, Matt Woolsey (05/19/08)

Места, пропустившие бум в росте цен, ростут в цене сейчас

MarketWatch
Markets that missed the boom now sport rising home prices
Monday April 21, 1:37 pm ET
By Amy Hoak

Перевод, Марины Въяльциной, ваш местный риэлтор, 801-649-5883

В определенных местах страны-цены ни только не падают, но и растут в данный момент.

Естественно трудные места по недвижимости можно найти по всему U.S.: много мест, где цены продолжают спускаться вниз, появляются на рынке "быстрые продажи" и foreclosures (дом или на стадии, или уже принадлежит банку, по определенным финансовым условиям, хозяин этот дом потерял).

Ну при всем при этом, так же существуют места, где самой большой сложностью стало убедить желающих продавцов и покупателей, что местные новости по недвижимости почти никак не похожи с новостями страны, что мы постоянно видим по телевидению, слышим по радио или читаем в газетах.

Пока наблюдается определенное замедление в ценах, маркет недвижимости, например в Amarillo, Texas, до сих пор можно считать маркетом продавцов. Средняя цена дома в Amarillo поднялась на 11% в четвертом квартале, according to the National Association of Realtors.

"Очень часто они удивляются на сколько разные местные новости и новости страны," риэлторы говорят о своих клиентах. В то время как плохой маркет занимает заголовки газет, местные люди пугаются и неправильно применяют эту информацию к себе.

"Проблемы с жильем в основном не (national) проблемы всей страны, а проблемы определенного региона в частности", заявила Susan Wachter, a real estate professor at the University of Pennsylvania's Wharton School.

"Интересно то, что много мест, где цены ведут себя прекрасно," она так же добавила. Кстати только 5 штатов проживают сейчас так называемую a housing recession: California, Arizona, Nevada, Florida and Michigan.

В четвертом квартале 2007 года, 73 из 150 больших жилых районов(metropolitan areas) показали рост цен на дома, рост по сравнению с этим же кварталом 2006 года, статистика взята с national Realtors group.

Нельзя сказать, что эти районы спасены от плохих тенденций экономики.

Во-первых, не надо забывать, что более жесткие правила выдачи долга на дом влияют на всех не зависимости от вашего местожительство. Требование вложить более большой залог (down payment) и требование иметь высокие балы в кредитной истории естественно ограничивает многих людей от покупки дома, особенно это влияет на first-time buyers (влияет на людей, что в первый раз покупают дом). И этот фактор отдельно от всех остальных влияет на цены недвижимости, чаще всего спуская их вниз.

Если, во-вторых, рынок по трудоустройству ослабел, то тоже это сильный фактор для снижения цен.

Однако, с недавнего времени наблюдается тенденция, что те рынки, что не успели или пропустили бум цен несколько лет назад, не падают в цене сейчас, их рынок остается сильным. В больших жилых центрах, это районы расположенные близже к центру города.

Большой двухзначный рост в процентном содержании не наблюдается, но такие места как New York, Texas, some Rocky Mountain states and the Carolinas живут прилично в эти нелегкие времена, сказал Lawrence Yun, chief economist for the National Association of Realtors.

Utah -- где цены на дома поднялись 9.27% в четвертом квартале 2007 по сравнению с этим же кварталом 2006 -- штат, где самый высокий рост произошел, according to the Office of Federal Housing Enterprise Oversight. После Юты последовал Wyoming, где цены за год выросли 8.27%, North Dakota, с 7.87% годовым ростом, и Montana, где цены выросли на 6.90%.

Не смотря на все это, много жилающих покупателей, что хотят, чтоб цены еще упали, говорит Dan Wagner, president of the Montana State Association of Realtors. Но так как цены не взлетали здесь последние несколько лет, им некуда падать сейчас, он же добавляет.

Например, где рынок работ сильный, как в Seattle, это тоже повлияло на рост цен, пусть только на чуть больше, чем 1%, according to NAR, но есть предположения, что именно employment landscape поддерживает рынок недвижимости.

A similar situation is shaping up in other markets.

Эта тенденция наблюдается и в других местах: Charlotte, N.C.

Читайте остальное на http://biz.yahoo.com/cbsm/080421/c9b2ac6418b345d1a86c826ca26

Марина Въяльцина
801-649-5883
http://saltlakecityblog.blogspot.com/

Economists: Utah home sales market solid despite numerous challenges

Article from Salt Lake Tribune:

(Please call me for individual Home Evaluation. From my experience, everything depends from certain area and price range. I am always available on 801-649-5883 or marinav30@yahoo.com, Thanks, Marina)


Economists: Utah home sales market solid despite numerous challenges
By Lesley Mitchell The Salt Lake Tribune
Article Last Updated: 10/23/2007 07:48:26 AM MDT

After years of increases, home sales along the Wasatch Front were down sharply in the third quarter, compared with last year, while prices increased at a slower pace. In Salt Lake County, 2,712 homes changed hands in the July-August-September period, down 33.8 percent from the same three months last year, according to a new report by the Salt Lake Board of Realtors. Among other counties, Tooele had the biggest decline in sales, down 36.4 percent, followed by Utah County, down 33.9 percent. Sales in Davis County were down 24.3 percent, with Weber County, down 22.4 percent. The drops, at levels unseen in years, are in stark contrast to the steady increases in home sales seen since the early 2000s. "It's like we were speeding along at 150 miles per hour and now we're going the speed limit," said Gary Cannon, president of the Salt Lake Board of Realtors. "The market is just slower now, and we just need to get used to it." Slower sales have led to slower appreciation, which is tilting the landscape in favor of buyers. Median selling prices, which had been increasing in many areas along the Wasatch Front in excess of 20 percent in 2006 when compared with 2005, are rising at a lower rate this year. Price gains in Salt Lake County (read the remaining on http://www.sltrib.com/ci_7253946?source=email)

Best Cities For Jobs amd its effect on Real Estate Market

Best Cities For Jobs
By Matthew Kirdahy, Forbes.com
October 12, 2007
A mining community has struck gold -- with tech jobs.
Topping the latest ranking of out Best Cities for Jobs list is Salt Lake City. The Crossroads to the West, an economy that has been predominantly driven by the mining and steel industries, has developed into a service-based city and has become a tech sector hub for digerati migrating from Silicon Valley.
The city also had almost the lowest rate of unemployment in 2006, a tick behind Honolulu, and ranked 19th overall.
To compile the rankings for the Best Cities for Jobs list, we used five data points, weighted equally: unemployment rate, job growth, income growth, median household income and cost of living for full-year 2006 (only partial data is so far available for 2007). We measured the largest 100 metropolitan areas, as defined by the U.S. Census Bureau, and obtained the data from Moody's Economy.com.
It's important to note that this list doesn't weight for specifics like job composition or job stability, two significant characteristics that will appeal to any job seeker.
Mark Zandi, chief economist and co-founder of Moody.s Economy.com, said this ranking shows job market strength but acknowledged these limitations. "There's nothing directly about quality or stability of a job market [in the ranking]," Zandi said.
"Some years are more volatile. Boom years are followed by years that don't quite measure up. For most people, a market that is more stable is most desirable, and this analysis doesn't account for that," he said.
Raleigh, N.C., led the pack before the full 2006 data were available. (Forbes.com published a Best Cities For Jobs list in February.)
"They're both strong economies and very solid job markets," Zandi said of Salt Lake City, vs. Raleigh. "It's Yankees-Red Sox. What's the difference? There is no real fundamental reason why Salt Lake is now No. 1."
New to the top 10 are Tulsa, Okla.; Albuquerque, N.M.; Wichita, Kan.; and Oklahoma City for income growth. Las Vegas just missed the top 10 by a spot but showed the second-best job growth. In 2005, it was ranked No. 48.
San Jose, Calif., posted the most significant jump, from No. 91 in 2005 to No. 14 in 2006. The third-largest city in the Golden State has the highest median household income, at $87,869. According to the data, that figure is projected to increase to $92,048 by the end of 2007 and $94,209 in 2008. However, it's also the priciest city on the list in which to live.
Normally, one might expect the great metropolises of the U.S. to rank higher than they do. New York City, arguably the world's financial capital, is listed at No. 63, a substantial change from its 99 ranking in 2005. Job growth overall is expected to increase along with job growth in the Big Apple.
San Francisco is at No. 31, up from 86, while Washington, D.C., fell to 32 from No. 5 in 2005.
Raleigh, however, remained among the five best in the job growth category. Phoenix reigned at No. 1, largely because of housing development. Given the recent housing bust, it will most certainly be dethroned in that category. The same goes for Florida -- Orlando, Sarasota, Tampa and Fort Lauderdale won't be so prominent for 2007 considering the impact of the downtrodden housing market. The next list will be "almost upside down," Zandi said.
In Pictures: Best Cities For Jobs

SLC will drop in price 3.4% (79 place), and Ogden-Clearfield-2.9% (85 place)

Double-digit home price drops coming (http://money.cnn.com/2007/09/19/real_estate/steep_home_price_drops_coming/index.htm)
Three quarters of housing markets - many in crashing Sun Belt areas - face price declines over next few years.
By Les Christie, CNNMoney.com staff writer
September 19 2007: 3:24 PM EDT
NEW YORK (CNNMoney.com) -- Over the next few years, more than three-quarters of the nation's housing markets will suffer some decline in home prices. Many will experience double-digit hits in a forecast that has worsened considerably in recent months.
According to an analysis conducted by Moody's Economy.com, declines will exceed 10 percent in 86 of the 379 largest housing markets. And 290 of the cities will experience price drops of 1 percent or more.

cnnad_createAd("970130","http://ads.cnn.com/html.ng/site=cnn_money&cnn_money_position=220x200_ctr&cnn_money_rollup=real_estate&cnn_money_section=quigo¶ms.styles=fs","200","220");
The survey attempted to identify the high and low points of housing prices in each of the markets, some of which started declining from their peak in the third quarter of 2005. All are median prices for single-family houses.
Nationally, Moody's is projecting an average price decline of 7.7 percent. That's a jump from the 6.6 percent total price drop that the company was forecasting in June and more than twice that of last October's forecast of a 3.6 percent price decrease.
Many of the worst hit cities are in Sun Belt areas that experienced outsized home-price growth during the real estate bubble, according to Arnold Slesers, an associate economist at Moody's. The home price correction in many of these cities will be severe as unsold new homes and leaps in foreclosures add to already big inventories.
The Stockton, Calif., metro area, where Moody's predicts a 25 percent price drop, will be the hardest hit among the 100 most populated cities surveyed.
Prices in Stockton - in California's Central Valley - rose quickly through 2005 as many would-be Bay Area buyers, frozen out of the expensive San Francisco area housing market, moved in. That influx drove up the median, single-family home price to about $375,000. Stockton prices peaked during the first quarter of 2006 and have gone downhill since. Prices likely won't turn around until the end of next year.
Just a tick or two behind Stockton in the Moody's survey were two Florida metro areas, Palm Bay/Melbourne (down 24.9 percent) and Sarasota/Bradenton (down 24.8 percent). All three markets are on almost the same peak-to-trough schedule, with Moody's forecasting that Sarasota will bottom out in the third quarter of 2008, a quarter sooner than the other two.
Outside of the Sun Belt, the worst hit areas are in the Midwest, where auto industry layoffs and plant closings have devastated local economies.
Detroit prices are experiencing the steepest fall of any large Rust Belt city. Moody's forecasts a 21.3 percent drop in Motown, which was hit earlier - in the third quarter of 2005 - and will suffer longer than most places. A turnaround in Detroit isn't expected until early 2009.
Six of the nation's 10 biggest cities face price declines of 1 percent or more with Phoenix, at a 17.8 percent loss, undergoing the worst reversal. The San Diego area will suffer through a 10.9 percent fall, Los Angeles (down 10.6 percent), New York, (down 5.3 percent), San Jose, (down 4.4 percent) and Philadelphia (down 3.1 percent) will also fall.
Among smaller cities, the biggest price declines will be in Saginaw, Mich., where the drop is forecasted at a numbing 31.8 percent. Other devastated markets will be in Punta Gorda, Fla. (down 28.8 percent), Merced, Calif (down 26.5 percent) and Santa Barbara, Calif. (down 25.9 percent).
The markets where Moody's is forecasting growth generally have one thing in common: Home prices in these cities are quite low. The top appreciating market will be the Brownsville/ Harlingen area in Texas, forecast to rise by 7.9 percent between July 2007 and the end of 2009. The median single-family home price there is less than $120,000.
In Killeen, Texas, the No. 2 appreciating market, prices are forecast to rise 4.6 percent and the median home price is about $129,000. Other inexpensive housing markets showing predicted price growth include Buffalo/Niagara Falls, N.Y.; Pittsburgh and Huntsville, Ala.
The table below shows the 100 largest-by-population markets among the 290 metro areas that are forecast to have declines of 1 percent or more. In an analysis that considered mortgage rates, the local job market and other factors, the study makes projections on when those markets would peak, when they would hit their worst point, and how much the total decline would be.
#storyTable .txtrgt3TBL {font-weight:bold;}

100 largest metro areas by population that are forecast to witness a decline in the median existing single-family house price
Rank
Area
State
Peak
Bottom
Peak to bottomhome price decline
1
Stockton
CA
06Q1
08Q4
-25.0
2
Palm Bay-Melbourne-Titusville
FL
06Q1
08Q4
-24.9
3
Sarasota-Bradenton-Venice
FL
06Q1
08Q3
-24.8
4
Reno-Sparks
NV
06Q1
09Q1
-22.4
5
Modesto
CA
06Q2
08Q3
-22.3
6
Detroit-Livonia-Dearborn
MI
05Q3
09Q1
-21.3
7
Fresno
CA
06Q2
09Q1
-20.0
8
Oxnard-Thousand Oaks-Ventura
CA
06Q2
08Q3
-19.2
9
Sacramento--Arden-Arcade--Roseville
CA
06Q1
08Q4
-19.1
10
Las Vegas-Paradise
NV
06Q2
08Q4
-18.7
11
Deltona-Daytona Beach-Ormond Beach
FL
06Q1
08Q3
-17.9
12
Phoenix-Mesa-Scottsdale
AZ
06Q2
08Q2
-17.8
13
Hartford-West Hartford-East Hartford
CT
07Q1
08Q4
-17.6
14
Cape Coral-Fort Myers
FL
06Q1
08Q4
-17.3
15
Visalia-Porterville
CA
06Q2
08Q4
-16.1
16
Riverside-San Bernardino-Ontario
CA
07Q1
09Q2
-15.9
17
Bethesda-Gaithersburg-Frederick
MD
06Q2
08Q4
-15.9
18
Lansing-East Lansing
MI
05Q3
09Q1
-15.7
19
Bakersfield
CA
06Q2
09Q1
-15.6
20
Warren-Farmington Hills-Troy
MI
05Q4
09Q1
-15.4
21
Newark-Union
NJ-PA
07Q1
08Q4
-15.4
22
Vallejo-Fairfield
CA
06Q1
09Q2
-15.3
23
Orlando-Kissimmee
FL
07Q1
09Q1
-15.1
24
Santa Rosa-Petaluma
CA
06Q1
08Q4
-14.0
25
Poughkeepsie-Newburgh-Middletown
NY
06Q2
08Q3
-13.9
26
Edison
NJ
06Q3
08Q4
-13.3
27
Worcester
MA
05Q4
08Q3
-13.0
28
Baltimore-Towson
MD
07Q2
09Q2
-12.8
29
Peabody
MA
05Q4
08Q3
-12.5
30
Nassau-Suffolk
NY
07Q2
09Q1
-12.3
31
West Palm Beach-Boca Raton-Boynton Beach
FL
06Q1
08Q3
-12.2
32
Tampa-St. Petersburg-Clearwater
FL
06Q4
08Q3
-11.7
33
Tucson
AZ
06Q2
08Q4
-11.7
34
Santa Ana-Anaheim-Irvine
CA
06Q2
09Q1
-11.6
35
Washington-Arlington-Alexandria
DC-VA-MD-WV
07Q3
09Q4
-11.5
36
Fort Lauderdale-Pompano Beach-Deerfield Beach
FL
06Q1
08Q4
-11.5
37
Flint
MI
06Q1
08Q2
-11.3
38
Cleveland-Elyria-Mentor
OH
05Q3
07Q4
-11.3
39
San Diego-Carlsbad-San Marcos
CA
06Q1
08Q4
-10.9
40
Los Angeles-Long Beach-Glendale
CA
07Q3
09Q1
-10.6
41
Oakland-Fremont-Hayward
CA
07Q3
08Q4
-10.3
42
Portland-South Portland-Biddeford
ME
06Q1
08Q3
-10.2
43
Rockingham County-Strafford County
NH
06Q1
08Q3
-10.2
44
Miami-Miami Beach-Kendall
FL
07Q2
08Q4
-9.9
45
Boston-Quincy
MA
05Q3
08Q4
-9.4
46
Providence-New Bedford-Fall River
RI-MA
06Q1
08Q3
-9.4
47
New Orleans-Metairie-Kenner
LA
06Q2
07Q3
-9.4
48
Wilmington
DE-MD-NJ
06Q3
08Q3
-9.2
49
Cambridge-Newton-Framingham
MA
05Q3
08Q3
-9.0
50
Youngstown-Warren-Boardman
OH-PA
05Q1
07Q4
-8.7
51
Toledo
OH
05Q4
07Q4
-8.3
52
Salinas
CA
07Q3
08Q4
-8.1
53
Colorado Springs
CO
07Q1
08Q3
-7.8
54
Boise City-Nampa
ID
07Q2
08Q4
-7.7
55
Winston-Salem
NC
05Q2
07Q4
-7.6
56
Denver-Aurora
CO
06Q2
08Q3
-7.6
57
Lakeland
FL
07Q2
08Q3
-7.5
58
Portland-Vancouver-Beaverton
OR-WA
07Q3
08Q4
-7.2
59
Pensacola-Ferry Pass-Brent
FL
06Q1
08Q3
-7.0
60
New Haven-Milford
CT
07Q3
08Q3
-6.7
61
Jacksonville
FL
07Q3
08Q3
-6.4
62
Camden
NJ
07Q2
08Q3
-6.3
63
Minneapolis-St. Paul-Bloomington
MN-WI
06Q3
09Q2
-6.0
64
Albuquerque
NM
07Q3
08Q3
-5.9
65
Tacoma
WA
07Q3
08Q3
-5.5
66
New York-White Plains-Wayne
NY-NJ
07Q3
08Q4
-5.3
67
Grand Rapids-Wyoming
MI
05Q4
07Q3
-5.3
68
Bridgeport-Stamford-Norwalk
CT
07Q3
08Q4
-5.1
69
Lexington-Fayette
KY
06Q1
08Q1
-5.1
70
Fayetteville-Springdale-Rogers
AR-MO
06Q2
07Q4
-4.6
71
San Jose-Sunnyvale-Santa Clara
CA
07Q3
08Q4
-4.4
72
Virginia Beach-Norfolk-Newport News
VA-NC
07Q3
08Q3
-4.1
73
Columbus
OH
05Q4
07Q1
-3.7
74
Dayton
OH
06Q4
07Q3
-3.7
75
Indianapolis
IN
05Q3
06Q4
-3.7
76
Provo-Orem
UT
07Q3
08Q3
-3.6
77
Chattanooga
TN-GA
06Q3
07Q4
-3.5
78
Tulsa
OK
06Q3
07Q4
-3.4
79
Salt Lake City
UT
07Q3
08Q3
-3.4
80
Allentown-Bethlehem-Easton
PA-NJ
07Q3
08Q4
-3.3
81
Philadelphia
PA
07Q3
08Q3
-3.1
82
Lake County-Kenosha County
IL-WI
06Q3
08Q2
-3.1
83
Wichita
KS
07Q1
07Q4
-2.9
84
Seattle-Bellevue-Everett
WA
07Q3
08Q3
-2.9
85
Ogden-Clearfield
UT
07Q3
08Q3
-2.9
86
Milwaukee-Waukesha-West Allis
WI
06Q3
07Q1
-2.9
87
Birmingham-Hoover
AL
06Q3
07Q3
-2.9
88
Jackson
MS
06Q3
07Q4
-2.9
89
Richmond
VA
07Q2
10Q3
-2.8
90
Cincinnati-Middletown
OH-KY-IN
05Q3
07Q2
-2.8
91
San Francisco-San Mateo-Redwood City
CA
07Q3
08Q2
-2.7
92
Albany-Schenectady-Troy
NY
07Q2
07Q4
-2.7
93
Springfield
MA
07Q3
08Q2
-2.6
94
Spokane
WA
07Q3
08Q3
-2.6
95
Omaha-Council Bluffs
NE-IA
06Q2
07Q4
-2.1
96
Kansas City
MO-KS
06Q1
07Q2
-2.0
97
McAllen-Edinburg-Mission
TX
05Q1
07Q2
-2.0
98
Fort Worth-Arlington
TX
06Q2
07Q1
-1.9
99
Oklahoma City
OK
07Q3
07Q4
-1.6
100
Memphis
TN-MS-AR
06Q2
07Q3
-1.1