Gay Realty Network

Real Estate News With a Gay Slant

California Real Estate Spiraling Out of Reach of Average Buyer

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San Francisco Real EstateFamilies who earn an average income can only afford a home in seven of 32 California counties, according to the California Association of Realtors. The report said someone earning the state’s median income of $60,244 can afford less than a third of California’s available homes, condos and town homes.

For Judy Cornick, a Sacramento retiree with some decent equity from her current home, it’s still a tight squeeze to get even a small place in downtown Sacramento.

“Everything I really want size-wise is probably a good, $30,000, $40,000, $50,000 out of my reach,” Cornick said as she checked out a home in Sacramento’s prestigious Land Park neighborhood. The 1,400-square foot, one bathroom, two bedroom home she’s looking at is a relative steal at just under $400,000.

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 Dave Marquis – See the Full Story at News 10

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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

New Ice Cream Shop for the Castro Gayborhood

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LOccitaneSan Francisco’s Castro Merchants business group voted this morning (Thursday, August 6) to approve a proposed ice cream shop in the neighborhood.

Juliet Pries, a 15-year-Castro resident, said she hopes to open the Cafe Fountain at 554 Castro Street by early 2016.

Pries, who’s straight and currently owns Ice Cream Bar, at 815 Cole Street in Cole Valley, told the merchants that it would be a 30s-style soda fountain. The Castro space had been occupied by L’Occitane, a skincare store. Pries acknowledged her ice cream isn’t cheap – a single scoop is $3.50 – but she said it’s organic and made by the shop.

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 Seth Hemmelgarn – See the Full Story at the BAR

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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

California Home Sales At 9-Year High

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San Francisco HomeSales of California homes remained robust in July, with the number of houses and condos sold hitting a nine-year high for the second month in a row, a research firm reported Wednesday.

CoreLogic Inc. reported an estimated 46,065 new and existing single-family homes sold in California in July. That’s up 14.4 percent from last July, and maintains strong sales recorded in June, indicating that the state may well be climbing out of last decade’s fiscal downturn.

The statewide median sale price increased 6.4 percent from last July to $415,000, the same as in June, and the highest for any month since November 2007, when the median price was also $415,000.

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.

See the Full Story at CBS Los Angeles

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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

How Amazon Swallowed Seattle

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Amazon and Seattle

Seattle is dead and Amazon killed it.

The recent news around Amazon has focused on the company as a workplace. Much of it has been unflattering, all of it is accurate. But a more comprehensive indictment of Amazon would also describe its effect on the rest of Seattle, which used to be a great place to live. In recent years, it has become consumed by Amazon.

I was born here, in 1988. My city was a gentle, easygoing place, a salad of cultural influences: citizens of the outdoors, of grunge and high art, with a dash of software among its bluebloods. Here I reveled in mild weather and glorious views; here I played in the best high-school orchestra in the nation (at a public school), and surrounded myself with brilliant people who understood me and made me better.

Nowhere else was life so good.

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 Gawker

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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

Chicago’s Downtown Building Boom

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Chicago construction - Curbed

Summer is cranking along and so is Chicago’s construction scene. In case you’ve missed it, the city is experiencing a boom in new construction. Thousands of new apartment units and hotel rooms are on the way, and the city’s skyline is littered with cranes that are helping construct these new developments.

And while it seems like Chicago’s construction scene has hit critical mass, things are about to get even busier as additional projects launch over the next few months. Here’s a quick downtown rundown of where various projects are at as we head into August.

Starting from the south, first up is the 40-story, 1,206-room Marriott Marquis at McCormick place which is now drilling caissons.

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 Curbed

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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

Lack of Supply Driving Up US Home Prices

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Capitol Hill - Seattle - Apple MapsHome prices in the U.S. have risen consistently for the last three years. By that measure, the housing market looks pretty good, but the prices are being driven by a severe lack of supply. And that’s discouraging for many buyers, especially in some of the hottest markets, like Denver.

Take the case of new mom Robin Smith. Her apartment in Denver was too small for her growing family. So Smith and her husband went looking for a house. They found one in the suburbs they really liked, a four-bedroom place listed for $259,000.

“We made an offer $10,000 over the asking price,” says Smith as she bounces her baby on her lap. “There were 32 offers on the home over a weekend.” In the end, her $10,000 over asking price wasn’t even close. It sold for $282,000.

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 Ben Markus – See the Full Story at Marketplace.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

Only 10% of San Francisco Residents Can Afford a Home

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San FranciscoMost of the San Francisco residents will find it hard to purchase a home given the rising cost of houses. Based on a study conducted by the California Association of Realtors (C.A.R.), only 10 percent of prospective home owners in the area could afford to buy a single family house.

C.A.R. released their 2nd Quarter Home Affordability report Tuesday, August 11, which indicated that San Franciscans will need an income of $267,780 in order to purchase a house, reports Bloomberg. This translates to a home affordability index of 10 percent, lower than the 12 percent posted during the first quarter of 2015. The median price of homes in the area reached $1.35 million, with monthly payments of $6,690. The monthly payments are based on a 30 year fixed-rate loan and already includes taxes and insurance fees.

The C.A.R. report also showed a drop in California’s housing affordability index for the year’s second quarter, with only 30 percent of home buyers able to purchase a single family house. This is down 2 percent from the first quarter of 2015 and flat from the same quarter in 2014. The drop is attributed to the rising trend in home prices across various U.S. 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.

See the Full Story at Realty Today

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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

State of the US Real Estate Market

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San Francisco HomeForbes Magazine, that guru of money, has recently issued a roundup of real estate realities for 2015. Rather than re-invent the wheel, this week I am presenting their insights to you in a deconstructed and simple format. Here we go:

An overview: Real estate has stabilized – yay! After years of roller coaster values, we have arrived at a kind of normalcy. This is good news. Another 10 expectations for the year follow:

1. Slow gains: As investors looking for quick returns have left the market, prices have settled. Forbes reports that prices are back to 2005 levels, and the top 20 cities are about 15-17 percent off the highs in mid-summer 2006. Zillow is predicting a very slim rise of about 2.5 percent in 2015.

2. Affordability Slippage: Though prices may have slowed, wages are even slower. Realtor.com predicts a decrease in affordability between 5 and 10 percent this year. As mortgage rates rise, the gulf between income and cost will widen further.

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

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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

Profile: Seattle’s Belltown

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Belltown - Apple MapsLike many Seattle neighborhoods, Belltown has undergone tremendous change through the years.

The area was named by William Nathaniel Bell, an Illinois native and member of the first group of white settlers in Seattle. Bell lived in Seattle on and off until his death in 1887, and he left his mark on the city in other ways too — main thoroughfares in downtown, including Bell Street, Virginia and Olive Streets and Olive Way, were all named after his daughters.

Belltown was once known for its low-income housing, but it now boasts some of the most expensive rental prices in the city. Belltown is often thought of as the hip, swanky part of downtown because of its bustling nightlife scene; it has no shortage of cocktail bars and restaurants.

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 Kirsten O’Brien – See the Full Story at Seattle PI

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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

Predicting Gentrification

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Capitol Hill ApartmentsThere is a mystery rising around the corner from my home in Northeast D.C. Its reveal has been slow: one floor at a time, the metal skeleton taking shape over months. The work seems to sputter on and off, and several times I’ve wondered if something went wrong. The money ran out. Or the inspectors caught wind.

The neighborhood is scattered with projects that were begun and abandoned. My favorite suspended remodel still has a poster in the window in the future-is-already-past verb tense unique to real estate: “Coming in summer of 2012.”

In neighborhoods like this undergoing rapid change, there’s a deep gulf between what we can see — someone is trying to build something — and what we know about what’s really happening. How big will that apartment be? When is it supposed to be finished? And, because I know you’re wondering: What are they planning to do about parking?

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