Gay Realty Network

Real Estate News With a Gay Slant

US Luxury House Market in a Slump?

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432 Park Avenue in New York CityThe luxury housing market is in a slump, with prices falling 1.1 percent in the first quarter of 2016 compared to the year-ago period, according to a new report from Redfin.

Aside from a positive blip in 2015’s fourth quarter, the market has been slowing since the third quarter of 2014, so the drop is not terribly surprising. With prices falling, buyers are taking advantage, and several cities are proving themselves as viable luxury hubs for the future.

“The global economy has been sputtering with troubles in China, Brazil and Europe,” said Nela Richardson, chief economist at Redfin. “The relative weakness of other currencies compared to the U.S. dollar has dissuaded many foreign buyers from purchasing luxury real estate in the States.

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 Fprest Cardamenis
See the Full Story at Luxury Daily

Bonnie Roseman, Lesbian Portland Real Estate Agent

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Bonnie Roseman, Lesbian Portland 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:

For over two decades I have worked with home buyers and sellers in the vibrant, close-in neighborhoods of Portland, Oregon — and I still love it!

Wearing many hats, from advisor to tour guide, from consultant to negotiator, providing perfectly personalized service to each client is my standard.

Specializing in Portland’s older homes, thoughtful infill and small plexes, I will help you find just the right spot to call home. When it is time to sell, I will assist you in setting up your Portland home for the best market experience possible, offering advice about repairs, staging and more…

I love meeting new people, especially getting to guide relocating clients around Portland’s real estate market, as well as the many folks I have helped over and again, such as Anne, who recently posted,

“Bonnie is an excellent person to work with. She’s interested first and foremost in the needs of her clients, so she takes the time to get to know you. We’ve used her for purchasing two houses and selling one. Hopefully we’re in our present house to stay, but we’d hire her again in a heartbeat and have recommended her to many friends. Top-notch for sure!”

I am grateful to have the opportunity to work with so many wonderful people! I am looking forward to hearing from you.

See Bonnie’s Expanded Listing on Gay Realty Network Here

Gay Friendly Realtors and Real Estate Professionals in Oregon

More San Francisco Homes Sit Unsold As Inventory Grows

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San Francisco Real EstateIt’s the news buyers have been waiting for: San Francisco’s crazy competitive market appears to be slowing down. According to SocketSite, the inventory of unsold homes on the market in mid-April is at its highest point in four years.

“The inventory of unsold homes listed for sale in San Francisco ticked up to 615 over the past week and is now running 40 percent higher versus the same time last year, the greatest year-over-year increase we’ve recorded since 2010 and the highest mid-April inventory level since 2012,” said the post.

The site broke down the market into single-family homes and condos, finding that the latter had far more inventory. There are 382 condo units on the market, a 53 percent increase over the same time in 2015, and that doesn’t even take into account most of the new-construction units on the market, which don’t necessarily list on the MLS.

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 Emily Landes
See the Full Story at SF Gate

Click here for gay realtors, mortgage lenders, and other real estate professionals in the SF Bay Area

Is San Francisco’s Market Slowing Down?

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San Francisco Ferry Building

That sound you hear may be some air finally escaping from the inflated San Francisco real estate market.

Home prices in the San Francisco Bay Area fell by 1.8% year-over-year in March, the first such drop in four years, according to Redfin , a Seattle-based real estate brokerage. “For years, San Francisco has been one of — if not the most — competitive markets in the country,” said Redfin chief economist Nela Richardson. “Now we are seeing this white-hot market start to cool and contract,” she said. Richardson noted that the share of Redfin properties facing multiple offers by buyers dropped to 77% in March from 94% compared to a year ago, Richardson added. “This suggests that the price drop is not about inventory, it’s about buyers fed up with high Bay Area prices and crazy competition,” she said.

In the city of San Francisco, the median value of homes has skyrocketed, from $670,000 at the beginning of 2012 to $1.12 million in April , a gain of more than 67%, according to Zillow.com, which puts the gain in the past year alone at 11%, though down from its year-over-year estimate of 14% in February. Last fall, a derelict two-bedroom, one-bath earthquake shack, built in the aftermath of the 1906 earthquake, sold for more than $400,000, 17% above its asking price. In addition, a similar fixer-upper along San Francisco’s famed Great Highway overlooking the Pacific Ocean, within walking distance of the city zoo and Golden Gate Park, sold for $1.2 million.

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 Daniel Goldstein
See the Full Story at Yahoo

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

Billboard Advertises New San Francisco Homes ‘From the Low $1000000s’

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sf billboard

Is this a thing now? Really?:

San Francisco Examiner reporter Joe Fitz Rodriguez tweeted an image of a “hair-raising” billboard he spotted on Ocean Avenue advertising new homes in San Francisco from the low $1,000,000s.

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 Amy Graff
See the Full Story at SFGate

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

How To Make Expensive Cities Affordable For Everyone Again

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San Francisco

Last week, we wrote about a new report from the California Legislative Analyst’s Office that found that poorer neighborhoods that have added more market-rate housing in the Bay Area since 2000 have been less likely to experience displacement. The idea is counterintuitive but consistent with what many economists theorize: Build more housing, and the cost of it goes down. Restrict housing, and the cost of it rises. If you’re a struggling renter, you’re better off if there’s more housing for everyone.

Many readers responded by saying “of course! supply and demand!” as if we’d just uncovered the obvious. Many others responded “of course! supply and demand!” — by which they meant, facetiously, that market dynamics clearly don’t work this way in neighborhoods like the Mission in San Francisco, where poor residents feel pushed out by tech workers moving in.

This question — how do we make room in highly desirable cities for everyone — gets at a defining problem of our times. And even experts (economists, sociologists and land-use scholars) don’t agree on the best answer. So we asked several of them to hash out the debate further for us here: What happens to housing affordability when we build more housing that’s not subsidized? Do the laws of supply and demand really apply 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.

Authored By Emily Badger
See the Full Story at The Washington Post

What The Average Manhattan Rent Could Get You Abroad

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New York Real Estate

Finding a home in Manhattan is notoriously hard, with rents steadily on the rise and an ever-growing influx of people looking to make the borough their home.

For February 2016, MNS Real Estate reports the average Manhattan rent to be sitting at $3,850 (€3,411, £2,658), after spiking over $4,000 (€3,563, £2,812) towards the end of last year.

And while the average may just land you a shoebox, if anything, in Manhattan’s most popular neighborhoods, have a look what’s on offer – for the same money or less – outside the Big Apple’s best-known borough.

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 Stefanie Gerdes
See the Full Story at Gay Star News

Most Rural LGBT Folks Move to Cities

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Seattle

More than half of LGBT people that live in rural areas of Northern Ireland feel compelled to move to cities, a new report has revealed. The findings by The Rainbow Project, also showed that 43% of respondents said their sexual orientation was at least partly related their desire to move.

The survey explored the lives of LGBT people living in rural areas of Northern Ireland and their interaction with services, as well as social acceptance.

As well as being more likely to move to urban areas and less likely to be ‘out’, it found that LGBT people in rural areas are more likely to experience depression and hear homophobic or transphobic language on a daily basis.

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 Bobby Rae
See the Full Story at Pink News

Why It Seems Impossible To Buy Your First Home

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Preparing Your Home for Sale

A starter home is supposed to be an entry point into the market: a modest property, maybe a two-bed, one-bath, a place a young couple could buy into before all the pets and kids and seldom-used kitchen appliances come along.

Buy a starter home, if all goes well, and you position yourself later to trade up. A starter home helps make possible a second home, which makes possible maybe a third even grander one somewhere down the line.

But what happens when the most affordable entry-level housing on the market costs $700,000?

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 Emily Badger
See the Full Story at The Washington Post

Millennials Leaving High-Cost Vancouver, B.C.

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Vancouver

As the price of an average house in the beautiful city nears $1.3 million Canadian, young tech workers are moving out, leaving worried business leaders behind.

Kevin Oke had a millennial’s dream job in Vancouver, B.C., working as lead designer at a video-game company whose clients included Atari and Ubisoft Entertainment, but he still couldn’t afford a house. So he left his native city. “Housing in Vancouver is insane — it was insane when I left and it’s more insane now,” said Oke, who co-founded educational-software company LlamaZoo Interactive after moving to Victoria, B.C., in 2014. “If you’re trying to do the startup thing full time, it would have been really difficult with all the expenses.”

Oke, now 33, is part of the millennial retreat from a city where housing prices have skyrocketed at a faster pace than even in San Francisco, another North American technology locus. Rising costs are putting Vancouver’s vaunted growth engine at risk as the city hemorrhages people employed in tech and new media for more affordable locales, including Victoria and Kelowna.

The flight of millennials from Vancouver is similar to trends found in other cities with soaring home prices.

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 Katia Dmitrieva
See the Full Story at the Seattle Times

Click here for gay realtors, mortgage lenders, and other real estate professionals in British Columbia