Gay Realty Network

Real Estate News With a Gay Slant

Washington DC’s Winner and Loser Neighborhoods

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Logan Circle, Washington DC – Apple MapsLast month we looked at active vs. sold listings for D.C. overall. This week, we’ll look at the median price over the past seven months for D.C. neighborhoods based on zip code.

Washington, D.C. overall experienced growth in median price from 2013 to 2014, both in July (1.90 percent) and year-to-date (4.20 percent). Keep that in mind as a background against which to view the stats for individual neighborhoods.

Who were the biggest winners and losers in the month of July? The three zip codes with highest median price growth were 20020 (Anacostia/Hillcrest + 37.80 percent), 20024 (SW Waterfront + 35.90 percent), and 20032 (Congress Heights + 22.80 percent). This is not surprising: property is still fairly inexpensive in 20020 and 20032, and foreign investors are buying it up for rent and renovation. The growth in median price for SW Waterfront is also not surprising given the imminent development along the waterfront there.

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 Ted Smith – See the Full Story at The Washington Blade

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

Image via Apple Maps

Are Our Gayborhoods Fading?

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The Castro GayborhoodAt one of the oldest gay taverns in the city’s Boystown neighborhood, the regulars were sharing a laugh over what they had seen the night before at their watering hole: a gaggle of straight women. “It was like they were at a gay museum,” joked James Davies, 61, who has been a regular at Little Jim’s for most of the 39 years it’s been in business. “They came to see if we fossilized.”

Call it a sign of progress, or as University of British Columbia sociologist Amin Ghaziani describes it, the “de-gaying” or “straightening” of America’s historically gay enclaves. In the midst of 20 straight wins in federal courts for same-sex marriage and polling that demonstrates Americans’ growing acceptance of LGBT people, scholars and demographers say there are signs that the draw of the so-called gayborhood is fading away.

Understanding the extent of the gay and lesbian migration from gayborhoods with precision is difficult, because the U.S. Census Bureau doesn’t ask all individuals about their sexuality. But the bureau does collect data on same-sex-couple households, providing the best, albeit incomplete, account of the nation’s LGBT population.

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 Aamer Madhani – See the Full Story at The Leaf-Chronicle

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

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

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

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

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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

US Existing Home Sales Up, New Home Sales Down

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ConstructionSales of existing homes shot up in July. Sales of newly-built homes fell. Behind the numbers, however, lurked the same old story: The housing market has yet to fully recover.

The Commerce Department reported Monday that new home sales dropped 2.4 percent from June to a seasonally adjusted annual rate of 412,000. Normal would be closer to 800,000, industry figures show, which means sales are only about half way back to where they should be.

Only a few days earlier, the National Association of Realtors reported that sales of previously-built (or existing) homes jumped 2.4 percent in July to their highest level since September, reaching a seasonally adjusted annual rate of 5.15 million. That’s closer to where it should be but not quite there. Based on the size of the population and recent job gains, a normal sales rate would be 5.5 million or more. This helps explain why the mix of homes available to potential buyers is totally out of whack.

In more normal times, six existing homes are sold for every new home, said Jed Kolko, chief economist at Trulia. During the depths of the housing bust, the ratio reached 14 to 1. Now the ratio is closer to 12.5 to 1 — even though 41% of Americans surveyed by Trulia say they would prefer to buy a newly-built home over one with previous owners. (A sizeable chunk of them, however, are not willing to pay the 20 percent premium that’s typically attached.)

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 Dina ElBoghdady – See the Full Story at Wonkblog

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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: Kathia Viquez, San Antonio, Texas

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Kathia Viquez - San AntonioPeriodically 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.

With almost 10 years of Real Estate experince I strive to make all of my customers happy home owners! San Antonio is a big city with a small town feel

See Kathia’s Expanded Listing on Gay Realty Network Here

Gay Friendly Realtors and Real Estate Professionals

Featured Gay Friendly Realtor: Scott Cotrell, Portland, Oregon

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Scott Cotrell, Gay Portland 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.

You will find I’m patient, diligent, and the professional who will work tirelessly to reach the goals we set together. Portland is diverse, accepting, environmentally- friendly and has an amazing food seen. Let me show you the Town!

See Scott’s Expanded Listing on Gay Realty Network Here

Gay Friendly Realtors and Real Estate Professionals in Portland, Oregon

New Grocery Store Coming to Chicago Gayborhood

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Mariano’s Fresh MarketMariano’s Fresh Market, a Chicago-area grocery store brand, has been given approval to build a new development at 3030 N. Broadway, just south of Boystown’s Broadway corridor. In addition to a two-story, 71,000 sq. ft. grocery store, the new commercial structure will also house a 40,000 sq. ft. XSport Fitness.

The now-defunct Dominick’s Finer Foods once occupied the location near Broadway and Wellington Ave., until a fire destroyed it in 2005. It has since served as a parking lot.

Ald. Tom Tunney’s 44th Ward office says that the building will be five stories tall, rising to 79 ft. There will be two levels of covered parking sandwiched between retail floors, providing about 250 parking spaces. An additional 30 spaces of parking will be located at the west end of the development.

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 Gerald Farinas – See the Full Story at the Chicago Phoenix

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

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

Price Per Square Foot Unmasked

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 Price per square footage analytics are generally a waste of time. Price per square foot is a number that boils down dozens of unique factors in a house or condo and attempts to bundle them into one tiny package. Unfortunately, all it really does is instill a false sense of confidence. It takes away all of the unique, broad, and interesting features of the home that allow us to effectively evaluate its worth and instead melts them into a beige, unremarkable mass.
 
Price per square foot is the equivalent of putting a cheeseburger, fries, and Coke into a blender and trying to charge $5 for the resulting “Happy Meal”. To lean on it as a means for supporting a valuation is lazy. It ignores view, geographic orientation, floor plan, upgrades, nearby amenities, and property condition and gives the impression that it can encompasses them all with a single number.
 
As real estate agents, we often struggle to explain this to our clients. They feel more informed when websites are crunching data into these easy-to-digest figures and often think we’re being disingenuous when we tell them to ignore statistics like price per square foot when evaluating a home for sale.  It seems illogical that this new information might actually be detrimental to their ability to evaluate a home, but unless they’re buying an entire neighborhood at once, it usually is.

What Upgrades Are Worth It to Sell Your House?

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San Francisco Real EstateIf you’ve dreamed of a sparkling new kitchen and finally open the wallet and make it happen, enjoy it! But if you’re hoping it will add major dollars to the sale of your home, well, time to think again. Buyers want all the goodies, for sure, but remember the adage “the best we can get for our money”, the qualifying phrase being “for our money.”

Yes, we want everything, but we also don’t want to pay for it. And herein lies the rub. My topic this week is over improvement, putting more money into remodeling a home than the market value will permit. It is a very rare occurrence that the money you invest in home improvement is returned to you dollar for dollar when you sell. Only a percentage of it will likely come back to you, and remodeling experts have calculated those improvements that tend to promote the highest return.

It’s primarily your location that determines the base value of your residence. If you are in a subdivision where homes are selling between $400,000 and $500,000, you’re unlikely to get $600,000 even with that new kitchen; the neighborhood just won’t warrant it. That $600,000 buyer will probably be seeking the worst house in the $700,000 neighborhood, which will probably be a better investment in the long run. Isn’t it great to have the most attractive, amenity-laden house in your vicinity? The answer is yes, but only if that house is at the same price, or slightly higher than its competitors.

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 Del Phillips – See the Full Story at LGBT Weekly

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