Gay Realty Network

Real Estate News With a Gay Slant

Manhattan Condo Inventory, Prices Up

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New YorkThe Manhattan condo market saw a spike in the number of available units and prices in July, according to a real estate report released Thursday.

StreetEasy’s report said the despite the 5.4% growth of inventory between July 2013 and this year, the number of available units is 16.2% below the five-year average level of inventory. Costs are now at a nineteen year high.

The median sales price in July was close to $1.4 million, a 14.4% jump from the $1.2 million median price during the same period last year.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

Authored By Ivan Pereira – See the Full Story at AM NY

Click here for gay realtors, mortgage lenders, and other real estate professionals.

If you have a gay real estate story that you’d like to share with us, contact us at info@gayrealtynetwork.com

Featured Gay Friendly Realtor: Dan Joy, Oakland, California

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Dan Joy, Gay Oakland Real Estate AgentPeriodically we’ll feature one of our real estate professionals here to let our readers know about some great Realtors, Mortgage Brokers, and Other Real Estate Professionals.

I enjoy empowering my clients with my knowledge and expertise to assist them making the best property investment decisions. The East Bay offers the best housing prices in the greater Bay Area while being a diverse and gay friendly environment.

See Dan’s Expanded Listing on Gay Realty Network Here

Gay Friendly Realtors and Real Estate Professionals in the SF Bay Area

Terry’s Blog: Home Mortgage Tips That Can Help You Out

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Home Mortgage Tips That Can Help You Out

Terry is a gay friendly realtor in Sioux Falls SD.  You may reach him at 605-351-1008 or terry@terrybornitz.com

Terry is a gay friendly realtor in Sioux Falls SD. You may reach him at 605-351-1008 or terry@terrybornitz.com


So you’re in search of that dream home and wondering what it takes in order to pay for it. That is where the home mortgage comes in, and you will want to understand how to get one. The tips in the article below are simple to follow, and will show you what it takes to secure your new home.

There are loans available for first time home buyers. These loans usually do not require a lot of money down and often have lower interest rates than standard mortgages. Most first time home buyer loans are guaranteed by the government; thus, there is more paperwork needed than standard mortgage applications.

Knowing your credit score is important before trying to obtain a mortgage. The better your credit history and score, the easier it will be for you to get a mortgage. Examine your credit reports for any errors that might be unnecessarily lowering your score. In reality, to obtain a mortgage, your credit score should be 620 or higher.

Get a pre-approval letter for your mortgage loan. A pre-approved mortgage loan normally makes the entire process move along more smoothly. It also helps because you know how much you can afford to spend. Your pre-approval letter will also include the interest rate you will be paying so you will have a good idea what your monthly payment will be before you make an offer.

Get mortgage loan estimates from at least three different mortgage lenders and three different banks. By shopping around, you may get a lower interest rate, pay fewer points and save money on closing costs. It’s almost always preferable to get a fixed interest rate. With variable rates, you may not know from month to month what your mortgage payment will be.

Getting that home mortgage can sometimes be tricky, but it should not be that way if you follow the simple tips that were presented above. By using these tips, it will make the home mortgage approval process much smoother. All it takes is you having a plan, following through on it and then hopefully acceptance on your new home mortgage.fbcoverTerryBornitz

Where Are the New Condos in San Francisco?

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SF New Condos MapNewConstructionSF.com as put together a great interactive map of the current sand pending condo projects across The City:

For those you who are more visually inclined, here is our map of new construction condo homes across San Francisco. For your convenience, we have organized the condo buildings into three chronological groups – buildings that have sold out, buildings that are currently for sale, and buildings that are somewhere in the planning or construction pipeline.

To see the interactive map, click here.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

See the Full Story at NewConstructionSF.com

Click here for gay realtors, mortgage lenders, and other real estate professionals in San Francisco.

If you have a gay real estate story that you’d like to share with us, contact us at info@gayrealtynetwork.com

Featured Gay Friendly Realtor: Frank Silva-Berger, Milwaukee, Wisconsin

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Frank Silva-Berger, Gay Friendly Milwaukee Real Estate AgentPeriodically we’ll feature one of our real estate professionals here to let our readers know about some great Realtors, Mortgage Brokers, and Other Real Estate Professionals.

Frank chose real estate in 1999 as a second career after serving the public school system for 25 years. The east side of Milwaukee is especially an area of diversity. Many vintage fixer-uppers still available.

See Frank’s Expanded Listing on Gay Realty Network Here

Gay Friendly Realtors and Real Estate Professionals in Wisconsin

Terry’s Blog: Know What You Are Doing When Buying A Home

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Know What You Are Doing When Buying A Home

Terry is a gay friendly realtor in Sioux Falls SD.  You may reach him at 605-351-1008 or terry@terrybornitz.com

Terry is a gay friendly realtor in Sioux Falls SD. You may reach him at 605-351-1008 or terry@terrybornitz.com


Learning about how to properly purchase real estate is how you will ultimately get the best bang for your buck out of this unpredictable market. Make sure you read this article before you decide to put your money down in the market. Knowing how to approach being a buyer will save you big in the long run.

Understanding the real estate market in a particular area requires learning about the number of active real estate agencies there. After the housing bubble burst, many real estate agencies went out of business. If there are one or two real estate agencies left in an area, the likelihood is that the neighborhood isn’t worth investing in. However, a handful or more of real estate agencies indicates a thriving real estate market that you should get involved in.

When purchasing a new home, it is important to research as many possible properties as you can. If you remain focused on only one home, you probably will not get the best deal for your money. Go to as many open houses as you can and keep an open mind about what you are looking for.

Search in your local paper, the courthouse and even other real estate agent offices for foreclosure listings, or homes that are being sold by HUD for the greatest profits when investing in real estate. These properties are sold at a deep discount in order to get them off the books.

Make a list prior to your house hunting of what is important to you in a home, or where a home is located. It is easy to forget what long term needs you have when dazzled by a home’s surface appearance instead. Consulting your list as you go will remind you to choose a home that has the storage you need, or is conveniently located near places that make your life easier.

The market may be unpredictable, but that doesn’t mean that you cannot learn to spot all the risks out there. This article has just illuminated some of the things you can do in order to make the right purchase. Now you can use this information to your advantage and avoid losing money.fbcoverTerryBornitz

Nano Housing – The Next Big Thing?

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The Karl

In Seattle, developers are racing to build what has become a wildly popular new type of apartment complex: “congregate housing.” Miniature studios averaging 150 square feet are so tightly packed that foldaway beds must be stowed during the day. Instead of an eat-in kitchen, residents can sometimes share cooking space with 30 other people down the hall.

Could what developers are calling “co-living for the middle class” help keep down San Francisco housing costs? If Seattle’s experiment is any measure, it might bring thousands of basic housing units priced below $1,000 per month, aimed at young single people who might not miss the extra elbowroom.

San Francisco has not exactly embraced the idea. In 2012, Supervisor Scott Wiener proposed allowing the minimum area of an apartment to go below 220 square feet. But after objections from neighborhood activists, concerned that profiteers would take advantage of the overheated rental market, allowed a maximum of 375 to be built citywide.

Two years later, Patrick Kennedy of developer Panoramic Interests, floated the idea. He is the first one to begin building micro-apartments. He is halfway through construction of 120 units at 1321 Mission St., and expects to start leasing in a year.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

Authored By Robin Ngai – See the Full Story at SFPublicPress.org

Click here for gay realtors, mortgage lenders, and other real estate professionals.

If you have a gay real estate story that you’d like to share with us, contact us at info@gayrealtynetwork.com

Image courtesy of Macy Architecture

Featured Gay Friendly Realtor: Brent Anderson, Edmonton, Alberta, Canada

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Brent Anderson, Gay Edmonton RealtorPeriodically we’ll feature one of our real estate professionals here to let our readers know about some great Realtors, Mortgage Brokers, and Other Real Estate Professionals.

Providing professional service to my clients, while educating them through the process. Edmonton is a thriving City, with many festivals, events to take in year round.

See Brent’s Expanded Listing on Gay Realty Network Here

Gay Friendly Realtors and Real Estate Professionals in Alberta

Renters Beware! Don’t Get Caught in the ‘Renter’s Trap’

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renters

In a recent press releaseZillow stated that the affordability of the nation’s rental inventory is currently much worse than affordability of the country’s home sale inventory. The release revealed two things:

  1. Nationally, renter’s signing a lease at the end of the second quarter paid 29.5% of their income to rent
  2. U.S. home buyers at the end of the second quarter could expect to pay 15.3% of their incomes to a mortgage on the typical home

Furthermore, renters pay more than the average of 24.9% that was paid in the pre-bubble period while buyers actually pay far less than the 22.1% share homeowners devoted to mortgages in the pre-bubble days.

Don’t Become Trapped

If you are currently renting you could get caught up in a cycle where increasing rents continue to make it impossible for you to save for a necessary down payment. Zillow Chief Economist Dr. Stan Humphries explains:

“The affordability of for-sale homes remains strong, which is encouraging for those buyers that can save for a down payment and capitalize on low mortgage interest rates… As rents keep rising, along with interest rates and home values, saving for a down payment and attaining homeownership becomes that much more difficult for millions of current renters.”

Know Your Options

Perhaps you already have saved enough to buy your first home. HousingWire recently reported that analysts at Nomura believe:

“It’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment.

It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)

Freddie Mac came out with comments on this exact issue:

  1. A person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent (sometimes with as little as 3 percent coming out of their own pockets)”.
  2. Freddie Mac’s purchase of mortgages with down payments under 10 percent more than quadrupled between 2009 and 2013.
  3. More than one in five borrowers who took out conforming, conventional mortgages in 2014 put down 10 percent or less.

If you have any questions or need help buying or selling real estate, please contact us or visit us on Facebook.

 

Todd Moeller
Seven Gables Real Estate
5481 E Santa Ana Canyon Road
Anaheim Hills, CA 92807
Todd Moeller Direct:

(714) 404-9540

BRE#: #01762788

Terry’s Blog: It Is Important To Keep Your Home Clean When You Are Trying To Sell It

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It Is Important To Keep Your Home Clean When You Are Trying To Sell It

Terry is a gay friendly realtor in Sioux Falls SD.  You may reach him at 605-351-1008 or terry@terrybornitz.com

Terry is a gay friendly realtor in Sioux Falls SD. You may reach him at 605-351-1008 or terry@terrybornitz.com


Selling real estate in today’s market can be a frustrating experience, but it is often a necessary one. However, with a little bit of inside knowledge on the subject, the confusing world of real estate can become an easier one to navigate, and possibly even a profitable venture. This article will help you learn about selling real estate to help you make the right decisions as you consider selling property.

Include energy efficient upgrades to your home if you’re planning to sell. If you buy energy-saving items like a power meter, motion detecting lights, Energy Star-certified items, and LED bulbs, you might be able to lure in buyers with the promise of significant energy savings over time.

Many people forget that keeping your home neat and tidy for open houses and showings is very important. A dirty or messy house can convey to buyers that you have not done a good job of keeping up with the property or taking good care of it while you owned it.

When your real estate agent calls to schedule a showing of your home, pop some cookies in the oven before prospective buyers arrive. The smell of freshly baked cookies is better than any air freshener and this homey smell can remind buyers of fond memories in their childhood home, encouraging them to think of the house you are selling as their new home.

When showing your home to potential buyers, be sure to de-clutter prior to inviting them into what could be their new home. Pack away the little things that you do not feel reflect a welcoming space for them. You want to make your home look open with a lot of space for them to move their things in.

Experiences in selling real estate can vary widely depending on each situation, but the knowledge gained from this article will be able to help you in your selling venture. Minimize your stress in dealing with real estate by following the advice stated here, and you may find the experience much easier than expected.fbcoverTerryBornitz