May 2, 2009
Here is what is going on in the Real Estate Condo Market:
City Center is Las Vegas will be completed! The Lenders struck a deal with the owners that guarantees the project will be completed. When complete, City Center will be the pinnacle of high rise living with it’s beautiful design and fantastic location. Vegas has always done Real Estate bigger and better than anywhere else and City Center will be no exception. Check out Vdarra of City Center here.
Breeza, downtown San Diego’s newest mid rise waterfront condo community, is holding a grand opening event Saturday afternoon. Check out BreezaLiving.com to RSVP today. Benefits of attending include: No HOA dues for 2 years! Reduced pricing on selected units. Up to $18,000 in tax credits. Free Prizes, Food, and Refreshments. I will be there and looking forward to meeting everybody who attends. Sign up for more info about Breeza here.
April 14, 2009
As part of the new economic stimulus bill, first time home buyers can earn up to an $8,000 tax credit for home purchases made before the end of the year. In short, purchase a home before the end of the year and when it’s time to file your taxes claim the credit. This will reduce your liability and anything leftover will be refunded to you by check. If you usually get money back during tax season, purchasing a home could lead to an additional bonus!
You can’t use the economy as an excuse anymore. All news stories are indicating a turn around, check out this one from Yahoo. All major economic indicators are showing that the 15 month recession is leveling off. The consumer market is on the upswing for large ticket items; once demand reaches a certain level most of these deals you see will be gone. If you’re living in Los Angeles, take a look at Vue in San Pedro. Great First time home buyer Benefits in a brand new waterfront building.
For those who are in the market for a second home, Riverstone in Beautiful Coeur d’Alene, ID is the destination. Check out their Listing. Coeur d’Alene is a one of the best vacation destination spots in the United States.
June 2, 2008
New Condos Online is pleased to announce the online advertising partnership with The Village at Riverstone in Coeur D’Alene. The Idaho Condo market is seeing a strong resurgence lately as resort style living is becoming popular with housing prices hitting record lows. Neatly set in the heart of the Inland Northwest where the Spokane River and Lake Coeur d’Alene meet, The Village at Riverstone is located in one of the most sought after areas in the country, known for its natural beauty and mountain lifestyle. The area includes a live lake featured as its centerpiece, a place for communal picnics and gatherings — The Village at Riverstone is a place to really live.
This mixed-use, riverfront community is where people, life, and work are brought together to create a lifestyle that cannot be found anywhere in the U,S. This style of living breathes new life into living. Residents live in their luxurious condominiums above Main Street in the midst of shopping, dining, entertainment, and outdoor life. Businesses thrive from the excellent location and the modern facilities designed especially for them. Other resort towns such as the Aspen Valley or Jackson Hole harkin back to the old style of popular resort towns where the cost of living and entertainment is through the roof — Riverstone brings a new take on this style of living at a fraction of the price. Come check out Riverstone today!
January 23, 2008
Yesterday the Federal Reserve cut interest rates by 3/4 of a point. This was a surprise cut and it is a huge cut. It was done to surpress the possibility of a recession in this country. Many people are left wondering, how does this cut affect me? Well for condo owners, it could directly help you if you are trying to re-finance a mortgage or if you have an adjustable ARM payment about to adjust. Your payment will now adjust to a lower rate than it would have and your payment will be directly lower. If you are a borrower with good credit, this may also serve as a good opportunity to refinance your loan or purchase a new home or condo. This i actually the best market I have ever seen to buy a condo right now. Prices are insanely low, and discounts and incentives can be found widely across the country. The only thing is that you have to have good credit and be able to come up with at least 10% down in the market to get a good loan.
The reason loan rates drop is because investors were buying up treasuries and bonds. This causes long term mortgage rates to fall. The Fed dopping rates to an affordable rate also makes a difference to millions of people with adjustable rate loans. It was generally a mistake to get those loans in the first place and now these people have the opportunity to lock into a good fixed rate loan.
The Fed dropping rate has a direct effect on people that have home equity lines of credit, including myself. These loans are generally ties to the prime rate which falls when the Fed funds rate falls. For someone with a $100,000 HELOC, this cut could drop their rate by close to $100 per month in some case which is huge for the economy and helps to prevent our country from slipping into a recession.
Overall, this is very good for the economy and we will see the positive effects over the next few months. Kudos to the Fed on this one.
January 21, 2008
We at New Condos Online would like to announce that we have formed a strategic marketing partnership with The Athena Group in featuring “The 903″ with our services. Located in Providence, RI — The 903 is located in this beautiful city that has drawn a thriving artist community with premier shopping and entertainment. The development offers the home owner a place to unwind during and find peace in an otherwise hectic world. Located centrally and close to many major freeways, you are minutes away from everything.
This development is particularly exciting because of the careful attention to detail paid in the layout and the planning of the communal amenities. The pool plays a pivotal centerpiece to the layout of the project and offers a full 24 hour gym and a clubhouse with billiards and a comfy seating area with flat screens, a great place to go hang out for BB-Q’s or getting together with your friends or neighbors. Another fun feature about this development is the addition of the theatre that boasts stadium style seating for you and up to 14 friends. “The 903” is a great place to come and unwind from the daily stresses of life and work, that’s the reason “The 903″ centers your life away from work as your time, and you place to live.
January 9, 2008
The Roaring Fork Valley near the picturesque towns you’ve vacationed in and dreamed about visiting all your life are becoming a huge site for new condo developments. I grew up in Basalt Colorado and Aspen and spent a good portion of my growth watching these somewhat small towns transform into hubs of vacation and retreat. The town of Aspen for example has been considered as a regal vacation getaway for the better part of 40 years but not since late 2002 did the real big and expensive condo development begin. Many older developments were razed and demolished with the demand of new and luxurious living.
Basalt on the other hand has developed much more slowly but is seeing a very nice and well planned out stage in their growth; much of its positive development can be attributed to former mayor of Basalt, Rick Stevens. Mayor Stevens helped put together the “Riverwalk” development that shadows the Roaring Fork River, and played a key role in the gentrification and maintenance in the new and updated layout of the igneous terrain. While Basalt is seeing an increase in its condo developments, it still maintains its old-style charm by keeping Main st. a rustic yet desirable avenue to call home.
NewCondosOnline is helping put Colorado and the Aspen Valley on the map by featuring the Aspen Shadow Rock development. I’ve seen this development and many more spring up making the valley a great place to visit and an even better place to live; not to mention the fact that it lies in a mountain range oppsite the eastern slope to Denver and Fort Collins, giving you all access to travel to Denver or the Western U.S.
January 2, 2008
With the housing boom over the last 5-6 years, property taxes in local governments also rose. As housing values rose, so did association fees and local property taxes. The problem with this country is that governments take too long to fix things. As the market has cooled off quickly it could be several years before property taxes anre adjusted accordingly. In some local governments, property taxes doubled in the last 5 years and this is really putting the strain on some home owners. Especially in condos, where the homeowener do not own much land, the taxes need to be adjusted downward quickly.
“I either have to not pay my taxes or not pay my mortgage or stop eating and turn off all the utilities in order to make it, and that would be true even if I were still working, or darn close to being true,” Gunyon said. “And I’m not the only person in this situation.” source: http://biz.yahoo.com/ap/071223/taxed_out.html?.v=3&.pf=taxes
All of us at NCO are calling for the goverment in all localities to look at this situation in a serious manner.
December 29, 2007
Morris and Raper Realtors recently appeared on a list of the top 10 Real Estate Companies in the Atlanta Metro. What is really impressive is that Morris and Raper did that by selling only new homes.
Morris & Raper is Atlanta’s leading new home real estate firm. They specialize in the sales and marketing of brand new single-family homes, townhomes and condominiums.
Learn more about Morris and Raper at their website. www.morrisandraper.com
Preview over 30 condo profiles as well as townhome communities, condo conversions, and single family neighborhoods using their new home search tool.
I went to the SDAR (San Diego Association of Realtors) Trade Show today in Mission Valley, CA to help promote our soon to be launched, “Find an Agent” section.
All types of companies attended this show – termite control companies, health insurance companies, mortgage companies, and of course builders of condos and single family homes, and etc. As I was walking around the trade show, picking up more things I didn’t need to clutter my office desk, I was constantly being pitched on products. And every product was the “best” the “only” the “leader” in their industry. I was overwhelmed but interested to hear other peoples pitches. I took a lot in and cracked a smile here and there. I began to wonder how much of these pitches actually worked and how many people simply paid attention to the sales pitch because of the free coffee mug.
What’s your experience been? Drop me a story – I’d love to hear one!
Here at www.newcondosonline.com, we have established relationships with over 1,200 new and pre-construction condo, loft, and townhome developments throughout the Nation. With these relationships, we also begin to see trends of where attached housing development is going up, where it is not, as well as where developers are seeing value for their marketing dollars. I would like to discuss the Dallas, Texas market for a bit. Dallas, from what we have observed through communication with local developers, realtors, and media agencies, is a region where condo, loft, and townhome development is just beginning to roll out in full steam. In the past, this region had no need to really build vertical, because of the vast amount of attractive and developable land that was available to builders. High-rise living, which arrived on the scene in the late 1990s has had an uphill battle against the single-family home market. Recently though, high-rises are coming out of the ground as never before, and now it comes down to how fast buyers will take interest to these new attached homes. There is now a lot of inventory to go through, and sales are sluggish. To increase absorption, developers, their marketing directors, and media agencies need to get creative in how they are advertising these new homes.
Traditionally there was no need for online advertising in the Dallas new condo/loft/townhome market, but now, it seems that there is a very strong need, as Frogman235 has previously noted. There is a lot of new inventory and I feel that developers need to curb homebuyer incentives and put some more dollars into online marketing. Homebuyer incentives may be a valuable tactic in the local market, but they carry less weight to out-of-state buyers, who may not even be aware a new development has been built. www.newcondosonline.com was formed to bridge this gap between the average online homebuyer and the developers (sales efforts) of condo, loft, and townhome projects. We are essentially a matchmaking service for developers and homebuyers. Because of this, NCO will to continue to be a very useful tool for developers and builders in Dallas as well as many other cities in similar situations, buy helping to showcase new projects to a national and international audience.
At a relatively inexpensive price-point compared to print/radio/television media, www.newcondosonline.com is a much more financially logical solution for selling units than offering incentives like “NO payments on principle or interest for 6 months, no HOA’s for an extended period of time, and no closing costs.” In more traditional and conservative cities such as Dallas where local print media still rules, Developers are often reluctant to come around to new technologies (the internet) to help with their sales efforts. The time has come to take a new approach, and revise these older advertising strategies, to attract newer, younger, and more tech-savvy buyers from local and out-of-state buyer markets.