The Limits of Density – Neighborhoods – The Atlantic Cities

Posted by    |    May 17th, 2012 at 5:15 am

Density is all the rage these days. Urban economists, some of whom could be heard extolling the praises of “sun, skills, and sprawl” just a few years ago, now see increasing density as the key to improving productivity and driving economic growth. In his story for The Atlantic, “How Skyscrapers Can Save the City,” Harvard University’s Edward Glaeser put it this way: “As America struggles to regain its economic footing, we would do well to remember that dense cities are also far more productive than suburbs, and offer better-paying jobs … tall buildings enable the human interactions that are at the heart of economic innovation, and of progress itself.” Well-intentioned planners and preservationists drive up prices when they stand in the way of taller and taller buildings, he argues. Overly restrictive height limitations not only impede economic progress, but make cities less, not more, liveable.

There can be no doubt that density has its advantages. In general, denser cities are more productive, more innovative, and more energy efficient. But only up to a point.

Read more at The Limits of Density – Neighborhoods – The Atlantic Cities.

Subdivisions go urban as housing market changes – USATODAY.com

Posted by    |    May 17th, 2012 at 5:15 am

Townhouses and single-family homes are sprouting on old industrial sites in the heart of Southern California cities. In Florida, developers are coveting foreclosed golf courses in urban centers to put up new subdivisions. Builders in Texas are going after available land even near landfills for residential and retail development.

Why are the giants of the building industry, the creators for decades of massive communities of cookie-cutter homes, cul-de-sacs and McMansions in far-flung suburbs, doing an about-face? Why are they suddenly building smaller neighborhoods in and close to cities on land more likely to be near a train station than a pig farm?

A housing industry slowly shaking off the worst economic conditions in decades is rethinking what type of housing to build and where to build it. It’s a response to a new wave of home buyers who have no desire to live in traditional subdivisions far from urban amenities.

Read more at Subdivisions go urban as housing market changes – USATODAY.com.

The Return of Multiple Offers: Brisk Market, Eat Wheaties, Say Prayers. But It Ain’t 2005

Posted by    |    May 16th, 2012 at 5:15 am

Lochwood Love Snapped Up Fast

Not only am I hearing of multiple offers on choice listings in Dallas and as far north as Frisco, but now I know of several homes selling that never even made it into MLS. I am starting to become concerned that with so many homes by-passing MLS, we will not be getting a clear handle on true sales figures. According to the experts, there are pockets of healthy markets around the country: Orange County, D.C. and Dallas/Houston/Austin.  But Calculated Risk blog, which I became obsessed with during the housing meltdown, says today’s dynamics are very different.

“This is only happening in a few parts of the country, the buyers are usually making substantial down payments, and I suspect any clear increase in prices would be met with more supply (“sellers waiting for a better market”).”

— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com

Is Bank of America’s Loan Forgiveness Program One Big Joke?

Posted by    |    May 16th, 2012 at 5:15 am

Will Bank of America's Principal Forgiveness Program bring borrowers back from the brink of foreclosure?

Thousands of homeowners underwater on their Bank of America mortgages could receive one of the 200,000 letters the bank is sending out offering partial loan forgiveness. According to Bankrate.com, BofA borrowers have to clear a pretty significant series of hurdles in order to qualify for the “principal reduction program”:

To be eligible for this principal reduction program, a borrower must:

  • Owe more on the mortgage than the home is worth.
  • Have been at least 60 days behind on the mortgage payments, as of Jan. 31. (I don’t get it either but that’s the rule.)
  • Have monthly housing expenses of more than 25 percent of gross household income. The expenses include mortgage principal payments, interest, property taxes, homeowners insurance and homeowner association fees.
  • Have a loan that is owned and serviced by Bank of America, or serviced for an investor who has given the bank the authority to do this type of modification.

We already know that major lenders are being pretty tight-fisted when it comes to new mortgages, so this program probably won’t have any real impact on the bank’s bottom line. It’s likely just a way for Bank of America to improve its tarnished image.

Still, what kind of message does the “principal forgiveness program” send out to borrowers? And do you think it’ll keep people at risk of foreclosure in their home?

 

— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com

The Credit Doctor Says: Good Credit — Don’t Leave Home Without It!

Posted by    |    May 16th, 2012 at 5:15 am

 

When you buy a home, consider it a voyage. There is real joy in the journey as much as the destination. In real estate, that couldn’t be more true! But as with any trip, you’d better be prepared before you hit the road. Just as you wouldn’t set off on any important trip without a map and itinerary and some hard cold cash, it’s best to make absolutely certain that you make the trip to a new residence as smooth as possible, by setting up a similar game plan.

This is a quasi-guest post by Lee B. “Doc” Compton, also known as the Credit Doctor. From personal experience, I know how hard it is to get a loan when you are self employed even if you have wads of equity. And if your credit isn’t ship shape, its going to be a tough road. I compare it to preparing to get pregnant, when you shape up, eat healthy, and make sure your body is ready for the stress of pregnancy, or so another Doc tells me. Getting a mortgage is actually similar. I asked Doc Compton for some tips:

With the recent sizzle in the DFW real estate market, and summer just around the corner, people are beginning to peruse the internet, and take Sunday drives through their desired neighborhoods in search of the perfect home. And whether they’re wide eyed first-timers, seasoned vets looking to upgrade or downsize, or investors capitalizing on current inventories and rate environment, they each need the same thing: good credit.

Dang good credit. Read the rest of this entry »

Monday Morning Millionaire for Mother’s Day: Somewhere, Over The Rainbow, in a Golf-Historic Home for LESS THAN A MILLION, In a League of It’s Own!

Posted by    |    May 16th, 2012 at 5:15 am

Deep Throat house

 

Did Jo and I enjoy our Mother’s Day? You betcha! I got so caught up with brunch and Mimosas I completely forgot to post the Deep Throat house,  where the then-quite-controversial X-rated film took place about a doctor’s home and home medical office (now that’s antiquated!) where he “treated” this woman, played by actress Linda Lovelace, who ah, shall we say, was anatomically challenged. Looks like rooms such as the wine cellar and doctor’s “office” — featured prominently in “Deep Throat” — actually haven’t changed too much despite renovations. It’s in one of my fave sections of Miami, Coconut Grove, and totally mid-century mod. Talk about House Porn! Read the rest of this entry »

Monday Morning Millionaire For a Gadzillionaire: Greg Brady’s $7 Million Azure Penthouse gets Picked Up by Forbes

Posted by    |    May 16th, 2012 at 5:15 am

I first wrote about this penthouse-to-end-all-penthouses last summer, when Greg Brady, former president of i-2 Technology once (and probably still) the Mark Zuckerberg of supply-chain management, was offering not just a BMW Z8 in at closing but a week on his yacht, the Noble House, to whoever would hand over eight million dolla — actually, $7,999,000 big ones. Then listing agent Babs Holder reduced the price to $6,490,000, kept the cruise. Unfortunately, no bites, even for a big fish. Now it’s listed with Marilyn Hoffman as I may have mentioned a couple weeks ago, the list price has scooted up to $6,800,000. And I wonder if that STILL includes the cruise or car.  No mention of that on the Forbes slideshow, but sure am glad to see a Dallas condo up there on the bigscreen.

And yes, we think this is a perfect fit for Eric Nicholson over at the Dallas Observer and UnFair Park.

 

— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com