Monthly Archives: April 2013

Empire State Building Feud Heads to Court

Ownership of New York’s 102-story landmark will be battled out in court this week.

New York real estate investors Peter L. Malkin and Anthony E. Malkin control the tower but are minority owners. They are nearing a deal—valued at $5.2 billion—that would offer them public shares in 19 properties, including the Empire State Building, The New York Times reports. The Malkins have gone on an investor-by-investor appeal, persuading about 75 percent of the building’s approximate 3,000 stakeholders so far to vote in favor of going public.

But the decision of whether the Malkins’ plans are legal rests with the courts.

Some stakeholders in the Empire State Building are opposed to the deal and have filed a lawsuit in the State Supreme Court in Manhattan to stop it. They claim that the agreement violates state law. The case will be heard this week.

“Under the agreement, once the Malkins achieve 80 percent approval, anyone who voted against it has 10 days to switch, or they could receive only $100 for their share,” The New York Times reports. “The offering values the share at about $323,000 each. Opponents argue that state law requires that the Malkins pay ‘fair value’ for all shares.”

Critics of the Malkins’ plan argue that the deal could harm the value of investors’ shares and expose them to tax liabilities, The New York Times reports.

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2013/04/29/empire-state-building-feud-heads-court

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on April 29, 2013 in Real Estate

Featured Fayetteville Gay Realtor: Anthony, Bassett Mix & Associates, Inc.

Gay Realtor Anthony

Anthony has a solutions-based approach that helps his clients achieve their real estate goals, whether personal or purely financial. He has a knack for minimizing the effort, time and money that you put into buying or selling a home.

Partners Realty Group is a full-service real estate team affiliated with Bassett Mix & Associates, Inc. Our team works throughout Northwest Arkansas helping buyers and sellers with their real estate needs.

Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

Anthony has been a licensed real estate agent since 2002, affiliated with Bassett Mix & Associates in 2011, and is a member of the National, Arkansas, and Northwest Arkansas Associations of Realtors. Anthony was a marketing major at the University of Arkansas, currently serves on the board of directors for Arts Live Theatre, Inc. and is involved in a variety of other civic organizations and non-profits. Our team and its members are consistently recognized for high production and customer service awards.

Specialties:

Partners Realty Group specializes in historic, luxury and architecturally distinctive homes and condominiums. We help buyers and sellers in all price categories and throughout the entire Northwest Arkansas region.

View Anthony’s  Complete Profile & Contact Him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At Gay Real Estate, we keep you posted about all the residential real estate news, gay real estate news and Gay Realtor stories affecting the gay and lesbian home buying and selling community coast to coast, and in your neighborhood!

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the LGBT community, please contact us at: manager@gayrealestate.com

Posted on April 26, 2013 in Gay Realtors

House Flipping Staging a Comeback?

More Americans are once again on the hunt to snag a home at bargain prices, fix it up, and then try to resell it for a quick profit. Home flippers mostly vanished from the market during the housing downturn a few years ago. But with home values inching up, flipping is coming back.

RealtyTrac says flipping increased for the second year in row, rising a slight 0.33 percent in 2012 from 12 percent in 2011. The company defines flipping as buying and selling a property within six months.

RealtyTrac reports the average gross profits for these types of transactions was $37,375 in 2012. According to the company, some of the best places to flip homes in 2012 were Orlando, Fla.; Richmond, Va.; Tucson, Ariz.; and Charlotte, N.C.

For example, homes flipped in Orlando were purchased for $100,397, on average, and then for $174,895 — earning a gross profit, on average, of nearly $75,000, RealtyTrac reports.

Investors are showing signs of being more cautious with flipping than they were during the housing boom. More investors are coming in with all-cash deals to purchase the homes. They also are holding onto the properties longer than they once did. On average, the flipping time from purchase to resale stands at about 106 days today, according to RealtyTrac.

“That seems to be the sweet spot for a profitable deal,” says Daren Blomquist, vice president at RealtyTrac. “Back in the housing bubble, many flippers were solely relying on price appreciation, sitting back and selling for big profits within a month or two.”

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2013/04/26/house-flipping-staging-comeback

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on April 26, 2013 in Home Buyers

15-Year Mortgage Rates Sink to New Lows

The 15-year fixed-rate mortgage reached a new all-time record low this week, averaging 2.61 percent, Freddie Mac reports in its weekly mortgage market survey. The 5-year adjustable-rate mortgage also reached a new record low this week of 2.58 percent.

This marked the fourth-consecutive week mortgage rates inched lower.

“The housing market is getting a boost with mortgage rates hovering at or near record lows,” says Frank Nothaft, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for mortgage rates for the week ending April 25:

  • 30-year fixed-rate mortgages: averaged 3.40 percent, with an average 0.8 point, dropping from last week’s 3.41 percent average. A year ago at this time, 30-year rates averaged 3.88 percent.
  • 15-year fixed-rate mortgages: averaged the new low of 2.61 percent, with an average 0.7 point. The previous record low for 15-year rates was set the week of Nov. 21, 2012, when 15-year rates averaged 2.63 percent. A year ago at this time, 15-year rates averaged 3.12 percent.
  • 5-year adjustable-rate mortgages: also averaged a new all-time record low of 2.58 percent this week, with an average 0.5 point, dropping from last week’s 2.60 percent average. Last year at this time, 5-year ARMs averaged 2.85 percent.
  • 1-year ARMs: averaged 2.62 percent, with an average 0.3 point, dropping from last week’s 2.63 percent average. A year ago at this time, 1-year rates averaged 2.74 percent.

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2013/04/26/15-year-mortgage-rates-sink-new-lows

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

 

Posted on April 26, 2013 in Mortgages

Census Bureau: New home sales turnaround

New home sales turnaround

New home sales made a U-turn after falling 4.6% in February to 411,000 homes sold. The sales of new single-family homes inched up 1.5% in March to 417,000.

March sales are up a more dramatic 18.5% from the year-ago estimate of 352,000, according to data from the Census Bureau and the Department of Housing and Urban Development.

Analysts at Econoday believe the housing sector is moving forward right now, but not very quickly or very much.

“Yesterday’s existing home sales report showed a dip in March with today’s new home sales report showing a rise but one that’s lower than expected. New home sales rose 1.5% in March in an easy comparison with an unusually weak month in February,” Econoday analysts said.

The median sales price of new homes sold in March picked up slightly from $246,800 in February to $247,000 in the most recent month. March’s average sales price was $279,000, down significantly from $313,700.

At the end of March, the number of new homes for sale rose to 153,00 units, compared to 152,000 units in February. This represents a 4.4-month supply of homes at today’s sales pace, unchanged from February.

“Today’s report has stopped the Dow’s opening rally in its tracks. The spring season, beginning with this month, will really be the big test for the housing market which going into the season isn’t showing much momentum,” Econoday analysts noted.

Capital Economics added, “After the weaker than expected existing home sales figures, the increase in new home sales in March comes as a bit of a relief. The rise was only slight, but the indications are that activity will post further gains later this year.”

The author of this article is: Megan Hopkins

 See the original post at: http://www.housingwire.com/news/2013/04/23/census-bureau-new-home-sales-turnaround

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on April 26, 2013 in Home Sales

Featured Phoenix Gay Realtor: Randy, Century 21 Arizona Foothills

Randy Stopher

As a hard-working, full-time real-estate agent in Phoenix and its surrounding cities, I will work tirelessly for you.

As an out and proud gay man who has been with my partner for more than two decades, I proudly and sensitively serve the needs of gay and lesbian (LGBT) people who want to work with a gay REALTOR.

Please contact me today!

Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

Buying and selling a home is one of the most important decisions you will make. As a full time Realtor I put your needs first. Year after year, clients return to me because they trust my advice and appreciate my knowledge, caring, personal and professional attention. As your Realtor I will listen to you and help you to make educated decisions. Your home is at the heart of your world and I want to help you find the place that will make you click your heels together three times and say, “There’s no place like it.”

Specialties:

Helping LGBT people to buy and sell their homes. I also specialize in helping first-time homeowners; executives who are relocating with their partners; and LGBT families with children. Whether you’re upsizing or downsizing into a condos, town home or McMansion I can help you to find the perfect place to call home.

View Randy’s  Complete Profile & Contact Him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At Gay Real Estate, we keep you posted about all the residential real estate news, gay real estate news and Gay Realtor stories affecting the gay and lesbian home buying and selling community coast to coast, and in your neighborhood!

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the LGBT community, please contact us at: manager@gayrealestate.com

Posted on April 26, 2013 in Gay Realtors

Featured Las Vegas Gay Realtor: Jesse, Elite Realty

Jesse - NV

Someone You Can Trust.
The most important thing when choosing a real estate professional is to find someone you can trust. I have a history of success and integrity in real estate that you can depend on. I am an experienced negotiator with expert knowledge of the local market. You can count on me to always work with your interests in mind, and to represent you and your wishes to the best of my ability.

Always in Touch
Good communication is the cornerstone of any successful relationship. You can count on me to provide you with the information you need on a schedule and in a manner that suits you best, and you will always have 24×7 access to a wealth of online resources through your private Web page. If need be, you can get in touch with me day or night via e-mail, phone or pager.

Free Consultation
If you are interested in buying or selling a condo, townhome, house, or acreage, I would love the opportunity to meet with you and discuss your real estate needs. Contact me today ~ I look foward to working with you!

Your Realtor For Life.

Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

Member National Association of Realtors

Specialties:

Residential Real Estate ~ Single Family, Townhome, Condominium and Loft Living!

View Jesse’s  Complete Profile & Contact Him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At Gay Real Estate, we keep you posted about all the residential real estate news, gay real estate news and Gay Realtor stories affecting the gay and lesbian home buying and selling community coast to coast, and in your neighborhood!

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the LGBT community, please contact us at: manager@gayrealestate.com

Posted on April 25, 2013 in Gay Realtors

Featured Kingsport Gay Realtor: William, Signature Properties

William - TN

At Signature Properties we pledge to donate a portion of every commission earned to the charities of our client’s choice.

I utilize the latest technologies, research and business strategies to exceed your expectations. More importantly, I listen and that means we find solutions that are tailored to you.

Whether you are buying or selling I will be happy to speak with you.

If you need to buy or sell a home please contact me!

Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

Member National Association of REALTORS Member Tennessee Association of REALTORS

Specialties:

Residential Real Estate – Resale and New Construction. Commerical Property. Land, Multifamily, Bank Owned and Foreclosure.

View William’s  Complete Profile & Contact Him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At Gay Real Estate, we keep you posted about all the residential real estate news, gay real estate news and Gay Realtor stories affecting the gay and lesbian home buying and selling community coast to coast, and in your neighborhood!

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the LGBT community, please contact us at: manager@gayrealestate.com

Posted on April 25, 2013 in Gay Realtors

Tight Housing Supplies Plague Spring Market

Home sales are “stuck” this spring due to the limited number of homes available to buy, says Lawrence Yun, chief economist for the National Association of REALTORS®.

The supply of homes for sale is 17 percent below year-ago levels, according to NAR data.

For-sale inventories are most constrained on the low-end of the housing market, where investors had moved in floods to purchase distressed homes and hold them as single-family rentals, housing experts note. About a four-month supply of homes is available under $100,000. As such, sales of low-end homes have dropped 16 percent from year ago because there just isn’t enough inventory, according to NAR.

Some home owners are still hesitant to sell, noticing the recent price increases and hoping for more, notes Richard Smith, CEO of Realogy Holdings. “If I am underwater in my equity and now suddenly I’m not, but I’m up 5 percent and the market around me is appreciating 6,7,8,9, 10 percent, why don’t I wait and perhaps get a 10 percent return on my investment, not a 5 percent return?” Smith explains.

“The housing shortage is going to continue,” Yun told CNBC. He says that home builders will need to ramp up their housing starts by 50 percent to help meet demand, but he says that is unlikely due to constraints such as land and labor shortages.

The author of this article is: realtormag.realtor.org/

 See the original post at: http://realtormag.realtor.org/daily-news/2013/04/25/tight-housing-supplies-plague-spring-market

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on April 25, 2013 in Home Sales

Report: ‘Alarming’ Rate of Re-Defaulters With HAMP

A new report finds that borrowers who had their mortgage payments reduced as part of the Home Affordable Modification Program are still failing at an “alarming rate” to stay current on their mortgage. The borrowers had their mortgage payments reduced, on average, by more than $400 a month.

For example, 46 percent of a few thousand permanent HAMP modifications issued in 2009 during the third quarter have re-defaulted. Nearly 40 percent of those made in the fourth quarter of 2009 also have re-defaulted, according to the report from the Troubled Asset Relief Program or Sigtarp.

The longer home owners remain in HAMP, the more likely they are to re-default out of the program, according to the report.

Under HAMP, banks aim to reduce borrowers’ monthly payments to around 31 percent of their current income. This often occurs by extending the term of the loan and dropping the interest rate. On average, the modifications have reduced monthly mortgage payments by $545 or $400.

To date, about 860,000 borrowers have active HAMP modifications. Around 290,000 have been removed from the program.

However, the report notes recent HAMP modifications have shown better results and are performing better than ones issued years earlier.

“Around 11 percent of HAMP modifications made in late 2011 have defaulted after one year, compared with more than 20 percent for those made when the program launched in mid-2009,” The Wall Street Journal reports.

The report also notes that HAMP modifications tend to outperform privately issued loan modifications.

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2013/04/25/report-alarming-rate-re-defaulters-hamp

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on April 25, 2013 in Mortgages