Category Archives: national news stories affecting second homes
Will Legal Pot Make Colorado Ski Homes a Smoking Commodity? Realtors Doubt Toking Will Lead to a New Joint
We’ve seen photos and stories from Colorado ski towns such as Aspen and Breckenridge showing vacationers filing lines out the door at marijuana shops, so of course, we had to wonder what kind of impact legal pot could have on Colorado real estate. Are more buyers putting it in their pipes and smoking it?
Turns out the Colorado Association of Realtors was wondering the exact same thing. After all, with 136 pot retailers in the state as of Dec. 2013, buyers were throwing green after green, eventually causing a state-wide shortage of smokables. But is recreational marijuana a boon for Colorado real estate, or a burden? Continue reading
As my site’s tagline reads, “you can never have too many homes.” Apparently, many buyers and homeowners agree. The latest Investment and Vacation Home Buyers Survey from the National Association of Realtors reported that vacation-home sales rose 7 percent in 2011.
Those of us in real estate know that when the housing market plummets, vacation places plummet the most. Second homes are most often discretionary purchases you wait on until you feel flush with cash.
Why Is TMZ Reporting that Terrell Owens Took a Bath on a 2600 Square Foot Condo? Let’s Get Our Dallas Real Estate News Straight, Please!
TMZ is reporting that Terrell Owens took a bath on his Azure condo:
According to public documents, Owens paid $340,000 for the 2,600 square foot place back in 2006, right after he signed a $25 million contract with the Cowboys.
Former Texas Ranger Rafael Palmeiro Selling Second Home in Pebble Beach, CA to Cover Bankruptcy Debt
The Texas Rangers are going to be world champs for the second year in a row, I feel it in my bones! But Rafael Palmeiro, the Rangers former slugger turned real estate developer, might be wishing he could get back into the game and out of real estate. Palmeiro is now asking creditors in his bankruptcy case (says the Fort Worth Star Telegram) to give him five years to sell the 200 acres of undeveloped land near Grapevine Mills mall he had planned for a mixed-used development called Gardens of Grapevine.
Get this: Austin has an unemployment rate of only 6.7%. That could be why, except for South Padre Island, Austin now has the highest priced median homes in Texas: $194,600, according to the Real Estate center at Texas A&M University. Sales of existing single-family Texas homes in August were up 24 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University. More than 21,200 existing single-family homes were sold, data showed. The median home price was $153,200, about the same as a year ago, and the state’s overall inventory was at 7.4 months.
Second Home Shocker: Fabulous Phoenix Paradise Valley REO With D Box Movie Chairs, 21-Car Garage, and Owner Went to West Point
Paradise Valley is like the Highland Park — no wait, make that Vaquero — of Phoenix. Paradise Valley is in Maricopa County, home to twelve resorts, and one of Arizona’s top tourist destinations. Very pricey dirt: the median home price is about $2.74, many homes exceeding $10 million, some over $40 million. So when there is a foreclosure, people drop their fingernail files.
76% of Vacation Home Owners Say Now is a Great Time To Buy, But Where? Second Home Hot Spots (Get Ready to be Shocked)
This is a good way to gauge where you should buy your second home if you plan on leasing it to supplement income. As you probably know, the sluggish, morose economy continues to drag down the travel industry: one publication I know ceased their entire travel section due to lack of ads. But there is one segment of the industry that is still showing a heartbeat: vacation home rentals.
I’ve got this over on CandysDirt.com, but will serve it up for you right here, too. This is just too important a story for anyone who’s obsessed with real estate. The Flower Mound house is great, don’t get me wrong, but when I squat, it’s going to be Pebble Beach Continue reading