Gay Realty Network

Real Estate News With a Gay Slant

SF Planners Recommend Approval of Housing Slated for Castro funeral home

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2254-Market-St-Sullivans-project

As expected, San Francisco planners are recommending approval of a mixed-use redevelopment project that would incorporate a Castro funeral home building.

At its February 11 meeting, the planning commission is expected to vote on the Prado Group’s revamp of Sullivan’s Funeral Home at 2254 Market Street and its adjacent parking lot. The developer has proposed incorporating the existing structure into a new building containing 45 apartments and a townhouse with two units constructed on the property’s 15th Street side.

The Prado Group has committed to setting aside its required five affordable units on-site. The development fronting Market Street will be a mix of 12 junior bedrooms, 10 one-bedrooms, 20 two-bedrooms, and three three-bedrooms.

A total of 5,217 square feet of commercial retail space would be incorporated into ground floor areas of the buildings fronting Market Street. They could be divided into smaller retail spaces or combined into several larger storefronts.

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 AUTHOR
See the Full Story at the Bay Area Reporter

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3 Up-And-Coming Toronto Areas You Should Move To Before The Hype Hits

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Totonro, ON, Canada

With Toronto constantly growing, neighborhoods around the city are constantly changing and the city’s ever-growing popularity sees the masses of dwellers follow the trend.

Hipsters flocking into a certain area is the most obvious sign of gentrification rearing its head – but even right now, without coffee shops and ironic tote bags taking over the streets, residents are spotting the first signs.

To be ahead of the crowd, here are three of Toronto’s neighborhoods already hailed as the next big thing – get in now and, once the masses may (or may not – there’s no surefire way of predicting the future) descend, you’ll be enjoying the craze from the comfort of the bedroom you acquired pre-hype.

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

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Will the Coming Bump in Interest Rates Lower Co-op and Condo Values?

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Money

New York City real estate professionals are split on what effect the Federal Reserve’s expected raise in short-term interest rates will have on property values and real estate development. According to the latest survey by accounting firm Marks Paneth, 41 percent say an interest rate hike will cause co-op and condo values to decline, 34 percent say they will stay the same, and 18 percent believe they will actually go up.

The survey was conducted among more than 130 property owners, brokers, engineers, accountants and lawyers. Half of the respondents predicted a rate hike will slow co-op and condo construction, 41 percent said it will not slow construction, and 8 percent were unsure.

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 Habitat Magazine

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The Escalating Demise Of Gayborhoods

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Hillcrest Gayborhood - San Diego

Personal assistant Brenden Michaels is wondering if his days in Brooklyn are numbered. He still clings to a cheap rental flat in uber-gentrified Williamsburg, but has seen his neighbourhood’s prices skyrocket. He now laughingly suspects even the improvements he’s made to his own home may eventually come back to bite him.

“I’ve repainted everything, put plants on the fire escape and done a lot of maintenance. If I leave this apartment it will be in a far better state than when I arrived. And by that very simple step, I have almost gentrified myself out of my own building.”

In many ways, the 29-year-old’s experience is typical of a host of lesbian, gay, bisexual and transgender city-dwellers. Seeking both an accepting community and affordable rent, they have often flocked together in cheaper areas of inner cities, such as gay-friendly Williamsburg. Their very presence in these areas, however, has allegedly transformed them, accelerating gentrification – and in turn pricing them out.

This LGBT long march through the inner cities is not about housing alone, of course. There is often a corresponding wave among businesses. LGBT bars and clubs have been said to have had a catalytic effect in encouraging a wealthier public back to areas such as London’s Soho or New York’s East Village.

Many western cities have nonetheless been faced recently with an epidemic of LGBT business closures. In London, more than 10 have pulled down their shutters permanently since 2010. This is a phenomenon that has also struck straight pubs and clubs, of course; it’s just that, unlike gay venues, they don’t yet risk becoming an endangered species.

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 Feargus O’Sullivan
See the Full Story at The Guardian

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16 Predictions for New York City’s Housing Market in 2016

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Harlem - Apple Maps

The year 2015 was all about records: new heights for sales prices, rentals … and the number of applications to affordable housing lotteries. But the market began to shift late in the year: sales price growth cooled, and landlords offered more concessions amid rising vacancies for rentals. Both are trends some brokers predict will continue.

Affordability will also remain a big issue as the de Blasio administration’s controversial zoning rules, intended to spur affordable housing, wind their way through the public approval process.

Here’s what else experts are talking about for 2016:

1. Sellers will no longer have an extreme advantage. Sellers will need to be more prudent about pricing as many buyers have reached their limit, many brokers said. “By no means will buyers have critical advantage, but they will have more leverage than in 2015,” said Noah Rosenblatt, founder of UrbanDigs, a site that analyzes the Manhattan market.

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 Zimmer
See the Full Story at DNA Info

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Maui Real Estate Draws LGBT Visitors, Permanent Residents

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Maui Sunseeker

Former San Francisco resident Dan Hutchins was the focus of attention for a standing-room-only crowd of more than a hundred who packed Maui’s Seascape Maalaea Restaurant earlier this month. The Maui AIDS Foundation organized the event for World AIDS Day, and Hutchins was the featured speaker. For the first time publicly, he told the compelling story of his struggle living with HIV since the early days of the epidemic in the 1980s, when at one point, doctors told him he had only months to live.

Hutchins successfully fought through stigma and later, HIV drug resistance. His health is good now and he works for the Maui Sunseeker LGBT Resort.

The warm reception Hutchins received that night and the supportive work of the Maui AIDS Foundation are very much reflective of the tight-knit LGBT community on Maui. Undoubtedly the warmth of the island’s people, mirrored by Hawaii’s pleasant climate, are a big part of the reason Hutchins and others call Maui real estate home and thousands more from the Bay Area visit Hawaii’s second-biggest island every year.

With a population of 163,000, Maui has no full time gay bar but it has Hawaii’s largest gay resort, Maui Sunseeker, and a popular unofficially gay clothing-optional beach, Little Beach. Maui’s LGBT Pride is held in October but the organization runs regular get-togethers, parties, and special events year round.

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 Ed Walsh
See the Full Story at the Bay Area Reporter

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San Francisco’s Millennials Can Afford Just 135 Square Feet For Housing

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The typical San Francisco millennial can only afford to buy 135 square feet of housing, the lowest buying power in the country, according to personal finance company SmartAsset.

Despite the city’s strong job growth and its reputation for well-paying tech jobs for young engineers, wages haven’t kept up with soaring property values. This year, San Francisco’s median home price exceeded $1 million.

Around the country, people born between 1980 and 2000 are buying homes at a lower rate. Nationwide, the third-quarter homeownership was 35.8 percent, down from 43 percent in 2005. The aftermath of the subprime mortgage collapse made securing financing harder, and the last decade has also seen a shift to college graduates moving to dense cities, where jobs are more available and renting is more common compared to buying.

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 Roland Li
See the Full Story at BizJournals.com

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New York City Housing Prices Set Record

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New York Supertall

Manhattan apartment prices reached new highs in 2015, with the typical price of a co-op or condominium topping $1 million for the first time as the year drew to a close.

The new benchmark, in the fourth quarter, was a milestone in the rising cost, and for many the unaffordability, of homeownership in New York City.

Many brokers and analysts attributed the marker to a surge in closings at expensive new buildings that have been under construction for years, including many deals signed months or even years ago. The rest of the market showed more modest prices gains and slower sales growth.

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 Josh Barbanel
See the Full Story at The Wall Street Journal

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Average Manhattan Apartment Now Costs Over $1 Million

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New York Real EstateThe price of an average Manhattan apartment has passed the $1.9million mark after surging 60 per cent in the past 10 years.

Remarkably, total real estate sales this year alone are expected to reach $24billion, and 190 apartments have sold for more than $10million each.

The Manhattan market is traditionally composed of co-ops, in which apartment owners become shareholders with a voice in the corporation that owns their building.

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 Corey Charlton
See the Full Story at The Daily Mail

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Real Estate Forecast for 2016

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San Francisco HomeThe real estate market is in a sleepy mode, and there are lots of reasons for this. This is the first of a two-part peek at the forecast for 2016, and in this first of the series, we’ll lay out the forces that are at play, setting the stage for what is to come.

In the 1970s when inflation was high and unemployment was too, the words “stagnation” came to define an economic climate characterized by sluggishness. Goods and services were expensive (inflation) and fewer buyers with the means to purchase them, created the slowdown. In a sense, even though employment numbers have been on the rise, we have a similar situation driving the sale of real estate today.

The California Association of Realtors predicts that existing home sales in the state are expected to rise in 2016 by over 6 percent. It also suggests that 2016 will have the slowest rate of price appreciation in five years. A shift to inland areas is also predicted, with diminishing affordability making coastal areas available to the top buyers only.

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 SOURCE