Gay Realty Network

Real Estate News With a Gay Slant

Where It’s Cheaper to Buy Than Rent in the US

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Rent vs Buy USA

Trulia bases these calculations on all the homes listed on their site for rent or sale in March 2015.

They include things like mortgage payments, maintenance, insurance, taxes, closing costs, down payment, sale proceeds and security deposits in the cost of owning and renting, and make a separate calculation for homeowner association fees.

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 Ana Swanson – See the Full Story at The Washington Post

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

San Francisco Real Estate Market Has Gone Over the Top

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San Francisco Real EstateIn San Francisco, a boom is always associated with its essential counterpart, the bust. They’re as typical to the city as sun and fog. And currently, the city is in one heck of a housing boom, but the national indices don’t quite do justice to how over-the-top mind-blowing crazy the situation has gotten.

For example, the S&P/Case-Shiller Home price index covers not just the city or county of San Francisco (identical) but includes four other Bay Area counties: Alameda, Contra Costa, Marin, and San Mateo. There are more counties in the Bay Area, but they’re not included in the index. Two of the cities in these counties – Richmond and Oakland – have made the lists of the nation’s most dangerous cities, justified or not, and home prices in these cities and other cities too are much, much lower.

So in terms of home prices, the five-county Case-Shiller index for “San Francisco,” though showing a significant gain, waters down the craziness happening before our very eyes in the real San Francisco.

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 Wolf Richter – See the Full Story at The Business Insider

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

In NYC, Billionaires Pay 1/100th the Average Property-Tax Rate

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New York Supertall

When a duplex condominium in New York’s new One57 supertall tower sold for $100.5 million dollars in January, it shattered all records. This condo is the most expensive single-family residence ever sold in Manhattan. Yet, at the rate that luxe residential towers are coming online in the part of Midtown known as Billionaires Row–consider the $91.5 million sale just last month–even that mondo One57 record may not last for long.

Steamy eight- or nine-figure sales were always the dream of former Mayor Michael Bloomberg. “If we can find a bunch of billionaires around the world to move here, that would be a godsend,” then-Mayor Bloomberg told The New York Times back in 2013. “Because that’s where the revenue comes to take care of everybody else.”

Construction is now underway on Nordstrom Tower, a supertall residential tower designed by Adrian Smith and Gordon Gill, the architects behind the Burj Khalifa. When the building is finished, the Nordstrom Tower will be the tallest residential building in the world. The one-percenters who can afford its lofts will be treated to some of the best views the United States has to offer.

And that’s just one of several buildings coming up that caters to the world’s wealthiest. So by Bloomberg’s logic, Gotham is saved, right? Not quite.

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 Kriston Capps- See the Full Story at City Lab

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

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

How Downtowns Succeed

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Original Starbucks Seattle

I had anticipated some of the rewards and discoveries of visiting cities in the process of economic and cultural recovery and re-invention. An unexpected reward has been the chance to get a time-capsule view, a kind of real-life time-line diorama, of how the downtown areas of cities look through all the stages of a decline-and-rise cycle. The declining phase includes hollowing-out and pawn-shop-dominated decay. Then there is spotty and tentative improvement. Finally, if all goes well, full-scale health through a combination of stores, restaurants, theaters, downtown condos, and all the other elements of a region that attracts commercial and human activity through most hours of the night and day.

As I described last month in this post, we’ve seen cities that serve as showpieces of how this process looks once it has succeeded. These range from Greenville, South Carolina, to Burlington, Vermont, to Columbus, Ohio, to Holland, Michigan, to Pasadena, California, and others in between. We’ve seen others well along the path toward downtown development: Duluth, Minnesota; Sioux Falls, South Dakota; Riverside and Redlands and Winters, California. And others that still have significant challenges but have taken big steps (like Allentown, Pennsylvania) or are about to (like Fresno, California).

Here’s why I set this out again: It’s tempting, if you haven’t seen the varied stages of this process, to imagine that some cities just “naturally” have attractive and successful downtowns, and others just don’t happen to. It’s like happening to be located on a river, or not.

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 James Fallows – See the Full Story at The Atlantic

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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

The Rise of Singles

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singles chart

Over the last half-century in America, it’s become acceptable, then increasingly common, then entirely unremarkable, to live alone. Women who once lived with their families until their wedding day now live alone. Men delaying marriage later into their 20s live alone. Divorces, more common today than in 1950, live alone. And seniors who live longer now than ever before — and who are less likely to spend those years in a retirement home — increasingly live alone, too.

As a result of all these shifts, more than a quarter of households in the U.S. now contain one person, alone. In 1940, it was about 7 percent.

This trend has all kinds of consequences, including a particularly problematic one for where we live: Our housing stock wasn’t built for a society full of singles. Our communities instead are full of homes meant for the traditional nuclear family — two-bedroom starter homes, three-bedroom houses, apartments with more bathrooms than a singleton needs, full-service kitchens when 25-year-old bachelors now primarily dine by microwave.

We’re increasingly a nation of single people, but we’re still living, quite literally, in a world built for families.

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

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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

San Francisco Supervisor Wants to Ban New Condos for the Rich in the Mission

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San FranciscoSan Francisco has become ground zero for class warfare as wealthy real estate developers snatch up cheap housing and kick out long time residents so they can build million dollar condos in a process called gentrification.

City Supervisor David Campos says he’s had enough, and today he’s going to introduce an ordinance to halt all market rate housing developments in the Mission District. That means no one will be able to build anything unless they’re building low-income housing.

In a press release, Campos said only one affordable housing development has been completed in the Mission and that was six years ago, in 2009.

Full Story at the Inquistr | San Francisco Gay Real Estate Resources

Gay UK Couple Told Flatshare is For “a Straight Couple”

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flatshare ad

A gay couple have complained about a flatshare ad – that says a room is available for a straight couple only.

Ross Boulter and his partner Mikey say they were looking for a flat in Guilford on Spareroom.co.uk, when they saw a listing for a flatshare in the city centre.

However, after reaching out to seek more details, they claim the ad was altered to state the room is only available to a straight couple. The listing now states: “Room 3: Avail: VACANT AND AVAILABLE NOW: “Ideal for a straight couple.”

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 Pink News

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

San Francisco Inventory Decline Leads to Mass Overbidding

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SF Inventory

A gradual decline in inventory has contributed to the increase in overbidding among buyers, according to a new report from Paragon Real Estate. The real-estate firm tallied the number of homes, co-ops, TICs, condos and even 2-4-unit buildings listed on the MLS, starting just before the market recovery began in 2012. It found that while listings consistently peak in the spring and autumn, and plummet around the December holidays, those peaks and valleys have been sinking lower and lower over the past few years.

The reduced inventory (as well as a widespread underpricing strategy by local realtors) has led motivated buyers to bid considerably over the asking price for the vast majority of S.F. sales. Paragon’s figures show that February 2015\0x2032s sales prices were an average of 8% higher than asking prices overall, with single-family homes selling for 12% over asking, condos averaging 7% over, and 2-4 unit buildings 2% over asking. “Houses are becoming a smaller and smaller percentage of city home sales (since virtually no new ones are being built), which has generally made them the most competitive market segment,” according to the report.

Now for some (slightly) good news for buyers: Paragon claims that even in this hot market a good 20%-30% of homes are price reduced before selling or are so overpriced they are removed from the market without a sale taking place. Now for more bad news: the less expensive the home, the bigger the buyer frenzy. “Right now, more affordable homes–for example, condos under $1 million–appear to be in particularly high demand,” according to the report.

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 SFGate

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

Fire Destroys Fire Island Gayborhood Hotel, Homes

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Fire on Fire Island

A massive fire swept through Cherry Grove’s commercial district on Fire Island last night, destroying several private homes, the Holly House Hotel, and the Grove Hotel, the last of which was home to the famed Ice Palace nightclub. For decades the Ice Palace hosted the Miss Fire Island pageant and served as the kickoff location for the annual Fire Island Pines Drag Invasion.

Local authorities say that the source of the blaze, which reportedly broke out on the nearby boardwalk, is unknown. About 80 firefighters were on the scene and two suffered injuries, but no residents were hurt, possibly because most of Fire Island is unoccupied at this time of year.

Last night’s fire was yet another in a recent string of disasters to strike Fire Island’s two predominantly gay towns. The commercial district of neighboring Fire Island Pines was destroyed in a 2011 fire and both towns were flooded during 2012’s Hurricane Sandy.

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 Joe.My.God

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

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

San Diego Metro Area Has Denser LGBT Population Than National Average

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San Diego

Apple Maps

New research into Gallup survey information reveals an educated estimate of where LGBT Americans live, considered perhaps the most detailed glimpse yet into the lives of lesbian, gay, bisexual and transgender people across 50 states.

At 6.2%, the San Francisco metropolitan area has the highest percentage of the adult population who identify as LGBT of any of the top 50 U.S. metropolitan areas, followed by Portland, Oregon (5.4%) and Austin, Texas (5.3%), according to a new Gallup Poll.

Variation in the percentage who identify as LGBT across the largest metro areas is relatively narrow, with San Francisco’s percentage just 2.6 percentage points higher than the national average of 3.6%, and the lowest-ranked metro area — Birmingham, Alabama (2.6%) — one point below the national average.

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 SDGLN

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

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