Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

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Originally Appeared Here

Fans of fortresses stormed the digital real estate landscape this week, wielding a barrage of clicks on a 10,547-square-foot stone castle in Rossford, OH. It vanquished the competition to become the most popular home on Realtor.com®.

And it just might be a royal bargain on the banks of the Maumee River. According to the listing, the six-bedroom castle is priced for “less than half of what it cost to construct.”

Away from the castle’s gates, you also clicked on a furnished home with a full gym in Florida, a New Jersey townhome that was occupied by the British during the Revolutionary War, and a “Friends”-themed house in Texas.

For a full look at the week’s 10 most popular homes, simply scroll on down.

Price: $435,900
Why it’s here: This five-bedroom home was built in 1895 and comes with 70 acres of rolling fields.

The acreage features fenced fields for livestock and a new water trough. A fenced orchard with fruit trees surrounds a pond.

In addition to the main house, there’s a large barn, pole building, greenhouse, above-ground pool, and deer shack.

Wind Ridge, PA

(Realtor.com)

Price: $439,000
Why it’s here: Built in 1833, this three-bedroom home has been modernized while maintaining its historic charm.

Located in Medford Village, it features wainscoting and crown molding throughout. A carriage house currently being used as an additional bedroom is tucked out back and could easily be transformed into a home office or gym.

Medford, NJ

(Realtor.com)

Price: $2,750,000
Why it’s here: Look at the fancy cars out front! Unfortunately, the cars won’t convey with the sale of this five-bedroom. But it does come with 11 acres, and there’s even a resort-style lagoon pool with lanai.

Built in 2004, this compound on Florida’s Gulf side features all sorts of amenities: a basketball court, tennis court, professional gym, and dog kennels. Most of the furniture and gym equipment will be included in the sale. There’s also an additional four-bedroom home on the property.

Inverness, FL

(Realtor.com)

Price: $2,880,000
Why it’s here: Offering Hamptons style in Central Ohio, this four-bedroom lakefront home features light oak flooring, white shiplap walls, and poplar ceilings throughout. The property includes a restored 125-year-old barn, storage shed, and boat dock.

Galena, OH

(Realtor.com)

Price: $1,000,000
Why it’s here: This renovated four-bedroom home is located in the master-planned community of Celebration.

Built in 2000, this home features beautiful tile flooring and a kitchen with espresso wood cabinets, stone counters, and a waterfall island. The family room has built-in storage and double French doors that open up to the fenced backyard. Outside, you’ll find a heated pool and spa.

Celebration, FL

(Realtor.com)

Price: $364,900
Why it’s here: Built in 1875, this three-bedroom home has been modernized over the decades. It’s highlighted by a chef’s kitchen with quartz countertops.

The exposed beams, pocket doors, and custom shelving are original to the home. Updates include a custom-built mantel in the living room, a primary bedroom with double closets, and a new pergola and deck.

Mount Holly, NJ

(Realtor.com)

Price: $499,900
Why it’s here: This three-bedroom home was built in 1983, but has been updated with designer light fixtures, recessed lighting, a new mudroom, and new windows.

The 1,818-square-foot home features an expanded kitchen, and outside you’ll find a heated pool, a barbecue area with a built-in pizza oven, a fireplace, a shower, and a pergola with a flat-screen TV.

Medford, NJ

(Realtor.com)

Price: $335,000
Why it’s here: This five-bedroom townhome was occupied by the British during the Revolutionary War. It was one of this week’s oldest homes to hit the market.

Known as the Carr House, it was built in 1775. Vintage details include a library with a built-in desk and a kitchen with a custom fireplace. The first floor features a marble-floored, custom-painted bathroom with a jetted tub. Five bedrooms upstairs feature newly waxed hardwood floors.

Mount Holly, NJ

(Realtor.com)

Price: $330,000
Why it’s here: Ross and Rachel would feel right at home in this “Friends”-themed townhouse, featuring murals and furnishings from the popular TV series.

Buyers can imagine eating in Monica’s kitchen or sipping coffee at Central Perk. The 2,015-square-foot townhouse is located within walking distance of local bars and restaurants.

Houston, TX

(Realtor.com)

Price: $2,595,000
Why it’s here: Is this a big bargain? According to the listing, this riverfront castle is priced for less than half of what it cost to build it. Our math skills are fuzzy, but we think that means this fabulous fortress cost about $5 million to construct.

Built in 2007, the 10,547-square-foot estate features turrets, naturally, and over-the-top design flourishes throughout.

There’s a floating stairway in the grand entry, and the primary suite features two walk-in closets and a private balcony with river views. For a relaxing evening in, head to the lower level, where there’s a theater and wine tasting.

Rossford, OH

(Realtor.com)

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Originally Appeared Here

State ranks 38th in nation, even as affordability remains nettlesome

The end of pandemic-driven forbearance on mortgage payments has triggered a rise in foreclosures on homes nationwide. But New Hampshire had one of the lowest foreclosure rates in the country during the first quarter of 2022, according to a new report from ATTOM, which tracks foreclosure data and is parent company to RealtyTrac, the largest online marketplace for foreclosure and distressed properties.

The state ranked 38th in foreclosure rates among the 50 states, with 193 foreclosures in the first quarter, a rate of one completed foreclosure among every 3,310 housing units with a foreclosure filing. Illinois had the highest rate: one in every 791. South Dakota had the lowest: one in every 17,724.

New Hampshire counties with the highest foreclosure rates, according to ATTOM data, are, in order: Merrimack, Cheshire, Strafford, Rockingham and Belknap.

While the data shows foreclosure starts and bank repossessions at their highest numbers in the two years of the Covid-19 pandemic, due to the end of government and bank mortgage forbearance programs, the rates are still below normal levels, according to ATTOM.

“Even with the large year-over-year increase in foreclosure starts and bank repossessions, foreclosure activity is still only running at about 57 percent of where it was in Q1 2020, the last quarter before the government enacted consumer protection programs due to the pandemic,” said Rick Sharga, executive vice president of market intelligence for ATTOM.

The fraction of foreclosures in New Hampshire is due, in part, to the qualified buyers who are fueling the real estate boom in New Hampshire that was hot even before the pandemic and went red hot during the pandemic.

It continues to be a seller’s market in the state, where demand is very, very high, but inventory is very, very low.

“While our inventory continues to remain tight in New Hampshire, there is no shortage of well-qualified buyers in New Hampshire,” said Adam Gaudet, president of the New Hampshire Association of Realtors.

“The majority of buyers are using conventional financing, but we’re still seeing the occasional cash purchase from out-of-state buyers,” added Gaudet, owner/broker at 603 Birch Realty in Concord. “In this fast-paced market, buyers are speaking with lenders earlier in the process and know exactly what they can afford before they begin touring homes.”

Troubling affordability index

Affordability is a challenge in New Hampshire, according to NHAR data.

In its monthly report on real estate trends, NHAR’s affordability index hit a record low in March 2022, underscoring the need for more affordable housing options. The index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home based on the most recent price and income data.

An index above 100 signifies that a family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment.

In March 2020, the state’s affordability index stood at 126 for a single-family home. In March 2021, it was 112. And in March 2022, it was 80, the least affordable index ever.

Rockingham County, according to the March report from the NHAR, continues to be the priciest county in which to buy a single-family home. The median price of a home there is $590,000, up 28.3 percent from what it was in March 2021. The statewide average in March was $440,000, a new high.

Auctioneer Paul McInnis, asked whether he’s seen an uptick in the number of residential properties he’s been auctioning recently, answered, “We haven’t.”

McInnis is president of an auction business originally licensed in the state in 1976, making him the holder of the longest active auction license in New Hampshire. Based in North Hampton, he’s been auctioning foreclosed real estate since 1978, handling properties for state-chartered banks that still hold the mortgages on properties; he does not handle properties for which the mortgages have been sold in the secondary market.

As for foreclosure auctions over the last six years, “I don’t want to say they’re non-existent but they’ve been very few,” said McInnis.

He said on average he auctions up to five residential properties a year. Compare that, according to McInnis, in the late 1980s and early 1990s when he was doing 200 to 300 foreclosure auctions a year.

The 1990s recession was largely due to a weakened economy as a result of Federal Reserve policies and as a result of the end of a real estate boom during the early to mid-1980s, resulting in sinking property values, lowered investment incentives, and job loss.

The ATTOM report shows a total of 33,333 U.S. properties with foreclosure filings in March 2022, up 29 percent from the previous month and up 181 percent from a year ago — the 11th consecutive month with a year-over-year increase in U.S. foreclosure activity.

“It’s likely that we’ll continue to see significant month-over-month and year-over-year growth through the second quarter of 2022, but still won’t reach historically normal levels of foreclosures until the end of the year at the earliest, unless the U.S. economy takes a significant turn for the worse.” said Sharp.

Realtytrac.com shows several foreclosed properties that are being auctioned throughout the state. One example scheduled for auction on May 13 is a property on Old Turnpike Road in Nottingham, which is located in Rockingham County. With 4,738 square feet, three bedrooms and three baths, on about five acres, it shows a value of $419,000.

The NH Banking Department encourages anyone facing foreclosure to call 211 or visit homehelpnh.org to find a HUD counselor or legal assistance, or information about upcoming foreclosure prevention workshops. There are no fees for these services.

These articles are being shared by partners in The Granite State News Collaborative. For more information visit collaborativenh.org.

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Originally Appeared Here

In the 1970s, boys and young men were disappearing around Chicago. No one suspected that a suburban contractor who moonlighted as a clown at neighborhood parties was secretly luring dozens of men into his home, torturing them, and then burying their bodies on his property.

Serial killer John Wayne Gacy is back in the spotlight with the debut this week of a three-part series on Netflix, “Conversations with a Killer: The John Wayne Gacy Tapes.” The new show explores audio between Gacy and his defense team that previously hadn’t been publicized.

The crimes terrified the nation when 26 bodies of his victims were discovered in the crawl spaces underneath the killer’s modest ranch home in the Chicago suburb of Norwood Park. Three more were found elsewhere on the property, and four were uncovered in the Des Plaines River.

So what ever happened to Gacy’s infamous house of horrors where at least 33 men were raped, tortured, and murdered?

In 1979, the ranch home was razed and a three-bedroom, two-bathroom brick home was erected on the property in 1986. (In 1994, Gacy died by lethal injection.)

Over the decades, that 2,500-square-foot home changed hands several times, selling most recently to one of the owners of a local plumbing company and his wife. The home, which boasts vaulted ceilings, a two-sided fireplace, and a skylight, was sold in March of last year for $395,000, according to property records.

“The stigma runs with the land, not the house,” says real estate appraiser Orell Anderson, president of Strategic Property Analytics in Laguna Beach, CA. “When these houses come up for sale, some people buy the place thinking if they tear it down and change the address a little bit and do some cosmetic fixes, the stigma will go away.” But it typically doesn’t.

The sale came after nearly two years of the home being on the market and at least 10 price cuts, as many buyers were unable to overcome the stigma of buying a home where grisly crimes occurred. The home was listed for $489,000 in August 2019.

The price cuts are often necessary because buyers “have to have an incentive [to live] in a place where a horrific event occurred,” says Anderson. The more horrific a crime, the deeper the cuts can be.

The most famous of homes can attract looky-loos for decades. This can be an annoyance for homeowners dealing with folks stopping and taking photos of the property or even ringing the doorbell.

The new owners weren’t aware of the property’s grisly history “until recently,” the brother of the buyer told Crain’s Chicago Business. The owner of the home declined to comment when reached by Realtor.com®.

Gacy, who had previously served time for sexually assaulting young men, was arrested in 1978. The property was vacant until it was purchased in 1984 by Hoyne Savings & Loan at a sheriff’s sale, according to Crain’s. The savings and loan company paid off $30,544 in taxes on two mortgages to acquire the lot.

Four years later, a woman reportedly bought the property and put up a new home there for her aging parents to live in, according to TMZ. This new home had a different address.

In 2004, the home was sold for $300,000 to what appears to be a financial institution, according to property records. The home didn’t go up for sale again for 15 more years. Even once it was listed in 2019, it took nearly two years and a more than 19% discount before it sold in the throes of the COVID-19 pandemic, during an epic housing shortage amid record-high home prices.

Says Anderson of the property: “You’ve got bad juju there associated with that specific geographic location.”

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Originally Appeared Here

6 recently listed homes in Santa Rosa

Slide 1 of 18

4881 Bennett Valley Road, Santa Rosa – $999,000

4 beds, 2 baths, 2,186 square feet. Lot size: 0.63 acres. Year built: 1949.

Because of location, wildlife like deer are often on this property, and the backyard has been left more closely to their natural space – containing oaks, natural stone walls and a meadow.

Slide 2 of 18

Dining room.

This house has a formal dining room along with a more casual dining nook that can be found in the kitchen.

Slide 3 of 18

Backyard.

The yard around the house has been mostly allowed to stay in its natural state.

Slide 4 of 18

1001 Temple Avenue, Santa Rosa – $725,000

3 beds, 2 baths, 2,066 square feet. Lot size: N/A. Year built: 1915.

This property is described as being two homes on a corner lot with easy access to both homes. Both these houses have been updated with granite counters and tile, bamboo and wood-like flooring.

Slide 5 of 18

Living room.

This shows the new, updated flooring added to both houses.

Slide 6 of 18

Backyard.

The yard is minimal, leaving more square footage for interior space.

Slide 7 of 18

8908 Oakmont Drive, Santa Rosa – $599,000

3 beds, 2 baths, 1,686 square feet. Lot size: 8,660 square feet. Year built: 1979.

This home already has a pending offer after being listed for less than two days. Single story home in Oakmont (55+ community) with 3 bedrooms and 2 full bathrooms.  There is only one HOA for this property.

Slide 8 of 18

Living room.

Both the living room and dining room in this house look out into the backyard.

Slide 9 of 18

Backyard.

The backyard features numerous trees, plants, and bushes along with enough space for a garden.

Slide 10 of 18

4988 Underwood Drive, Santa Rosa – $695,000

4 beds, 2 baths, 1,400 square feet. Lot size: 6,120 square feet. Year built: 1972.

This is a single-story house located in Rincon Valley. This 4 bedroom, 2 bath house has been updated and is close to schools and a park.

Slide 11 of 18

Kitchen area.

This kitchen has been updated with custom tile and a professional stove hood.

Slide 12 of 18

Backyard.

The yard is set up for entertaining or relaxing outside.

Slide 13 of 18

955 Kingwood Street, Santa Rosa – $589,000

4 beds, 2 baths, 1,250 square feet. Lot size: 2,632 square feet. Year built: 1994.

Listed as a Cape Cod-style house, this home was built in 1994 and features an open floor plan design to help make it feel larger than the 2,632 square feet.

Slide 14 of 18

Living room.

From the entry it’s easy to see the dining area, kitchen, and stairs leading up to the bedrooms.

Slide 15 of 18

Yard.

Though on the smaller side, this backyard features a deck, hot tub and storage shed. The attached two car garage also has the convenience of a door to the backyard.

Slide 16 of 18

2422 Quail Hollow Drive – $745,000

4 beds, 3 baths, 1,784 square feet. Lot size: 5,192 square feet. Year built: 1986.

This 4 bedroom, 2 bath home is located close to shopping areas, schools, and has has been  recently painted.

Slide 17 of 18

Living room.

Featuring a vaulted ceiling, this living room is right at the entryway and offers quick access to the upstairs.

Slide 18 of 18

Backyard.

There are no neighbors directly behind this home, allowing for more privacy when entertaining in the backyard.

The most recent real estate trends in Santa Rosa show that in March 2022, Santa Rosa home prices were up 11.5% compared to last year, selling for a median price of $725,000. On average, homes in Santa Rosa sell after 28 days on the market compared to 39 days last year. There were 176 homes sold in March this year, down from 235 last year.

What buyers coming into the Santa Rosa real estate market in this week in April may find is some homes getting multiple offers, the average home listed sells for about 3% above list price and go pending in around 31 days, and desirable houses can sell for about 8% above list price and go pending in as few as 22 days.

For reference, there are 29 neighborhoods in Santa Rosa. Fountaingrove East has a median listing home price of $1.5 million, making it the most expensive neighborhood, while Lincoln Manor is the most affordable neighborhood, with a median listing home price of $429,000.

Click through the gallery above to preview some of the latest houses listed in Santa Rosa

 

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Originally Appeared Here

Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

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Originally Appeared Here

• Cindy Pedraza owns the family-run Cocoandré Chocolatier in Dallas’ Bishop Arts district.
• Bishop Arts, like many areas of the country, has seen an uptick in real-estate-investor development.
• A Dallas councilman says residents can get more involved and “take control” of their destiny.

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Cindy Pedraza knows firsthand how real-estate investors can change the makeup of a neighborhood.

The owner of Cocoandré Chocolatier— a family-run Mexican American chocolate shop in Dallas — has seen her community transform as developers move in, looking to invest in prime real estate.

Oak Cliff’s Bishop Arts neighborhood, where Pedraza set up shop, is a hop and skip away from downtown Dallas. The district is locally known as one of the most independent communities in the city and boasts a diverse and lively arts scene looking to rival larger hubs like Austin, Texas, and New York. 

In recent years, the small neighborhood of artists and college students has become a hot spot for real-estate investment — and it’s throwing locals for a loop.

Since 2012, the Bishop Arts area has had almost 4,000 new apartments built, an annual report from February said. There are seven multifamily developments under construction, including a new project being led by the Lennar Multifamily Corporation.

The Charlotte, North Carolina-based real-estate developer plans to demolish the 500 block of 8th Street, replacing affordable, picturesque 20th-century complexes with 225 market-rate apartments — regardless of whether locals can afford them.

“There has to be a way to invest in the neighborhood without causing so much disruption,” Pedraza told Insider.  

The nation’s hot housing market is pushing up property values across the country. Nationally, property taxes increased twice as fast in 2020 compared with 2019, jumping by 5.4%. In Bishop Arts, property taxes for one business reached as high as $700 a month. Businesses’ sales are also declining as priced-out locals seek out more affordable locations. It could be difficult in the metro area — in 2021, Dallas homeowners paid $5,817 in property taxes on average, compared with $3,785 nationwide. 

For small businesses like Cocoandré Chocolatier, this could create a make-or-break situation.

“It’s been two years since the start of the pandemic, and we thought our business was finally getting to a better place,” Pedraza said. “But now there’s another thing that’s going to stop growth in the neighborhood and the local businesses that have been recovering.”

Lennar did not immediately respond to Insider’s request for comment.

‘It’s just been one thing after the other’

Before moving to 7th Street, Cocoandré Chocolatier had a home on Davis Street. Pedraza’s family rented the property, but a local developer bought it from underneath them. 

Pedraza’s family owns her new property and developers can’t force them to leave, but she fears how the neighborhood’s transformation will affect her business in the long run — especially since it’s located directly behind Lennar’s 8th Street project. 

Since the project kicked off, she said people have taken shelter in the soon-to-be-demolished homes on 8th Street. Pedraza said that last month a boarded-up apartment building behind her business caught fire.

“Every week, it’s just been one thing after the other,” Pedraza said. “Since that fire happened, there’s been fire trucks every weekend or all the time now in the alley, which makes us concerned about all the dirt and traffic. We experienced this once before when they were building apartments farther away, but these are now directly right behind us.”

Pedraza said real-estate construction has disrupted the lives of local homeowners and businesses. As developers move into a neighborhood, they come with “massive 18-wheelers, dust, road blockades, and noise pollution,” she said

“Unfortunately, none of the residents that exist have been contacted by the new company that owns the properties, and it hasn’t been communicated to us how they will work not to disrupt daily life,” she said. 

‘You’ve got to take control of your own destiny’ 

Chad West, a Dallas councilman and mayor pro tem, said businesses and homeowners who are engaged in city meetings and planning are more likely to understand their rights and how to express concerns about aggressive developments. 

“You’ve got to take control of your own destiny,” West told Insider. “If not, what happened in Bishop Arts could happen to your neighborhood.”

West said the train that led to 8th Street’s demolition left the station over a decade ago, when the City Council approved rezoning. In the years since, he said, Bishop Arts has fallen victim to investors “assembling properties,” when developers move into an area and purchase entire blocks.

“If neighbors who own their individual lots want to see their neighborhood stay single-family or want to add gentle density — which is like duplexes and granny flats — those are the kind of things you can put into planning documents for the future,” West said. 

Although Pedraza said Dallas residents do need to start listening and learning, she believes it’s up to elected officials to make sure their interests are represented. 

“I feel like it’s the city’s job to look out for residents and inform them on what is planned in their neighborhoods, especially in a way they understand,” she said. “We don’t see our leaders talking to us or including us in the conversation.”‘

To ensure residents are well-informed on housing decisions, West introduced the West Oak Cliff Area Planning effort, an initiative that aims to protect existing single-family neighborhoods, businesses, and affordable-housing choices. The effort involved a task force of local community leaders in 2020 and has begun community-engagement efforts, with the goal of full adoption by the end of 2022. 

“We have to both protect everything we love about our neighborhoods and also plan for the future,” West said. “Dallas is growing rapidly, and if we as neighbors don’t take steps to preserve what we love and address growth and change in a meaningful, straightforward way, someone outside of our neighborhoods or even outside the city might do it for us.” 

Pedraza feels Bishop Arts has already missed its chance but hopes the conversation will trigger meaningful change for other neighborhoods in Oak Cliff. 

“I feel like it’s a little too late to do change here in the Bishop Arts area, but I think we can still cause some kind of change for the other neighborhoods in the area,” Pedraza said.

With more than 426,000 apartments slated to be completed around the country by the end of 2022, and the conversation around development bound to pick up steam, she might be right

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Originally Appeared Here

Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

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Originally Appeared Here

The housing market is hot and is continuing to heat up as we enter one of the busiest seasons for homebuying. If you are looking to purchase a home this year, here are a few real estate trends and tips to help you navigate the homebuying process. 

READ ALSO: Is a housing market crash on the way in 2022?

It’s still a seller’s market.

This is good news if you are selling a home, but tough for those who are looking to buy—and we don’t see this changing anytime soon. The impact of ongoing low inventory and high demand continues to drive prices to record levels, a problem that won’t fix itself overnight. Additionally, construction materials are considerably higher than they have been in years past, which means less new homes are being built, keeping the cost of existing homes high with less competition from new builds. Unfortunately, we believe this is our new reality through 2022 and likely into next year.

Interest rates will likely remain steady through the year.

Rates have spiked significantly over the past 45 days but are still low historically speaking. One thing to consider is that rental rates are also increasing so overall housing costs are going up whether you are renting or buying. Also remember you always have the option of refinancing your loan later if rates fall in the future.

Rising rent will turn renters into buyers.

The price of rent is rising almost as fast as interest rates—which is pushing many renters to consider purchasing a home. If you’re able to find a home in your budget and that meets your needs, it’s still a good investment to purchase a home, despite the current environment. Homeownership continues to be an excellent hedge against inflation and has proven to be a solid financial investment through all economic times.

Leveraging local lenders and realtors can make a positive impact.

It doesn’t cost to have a buyer’s agent, and it’s always advised to get prequalified with a reputable lender. With houses selling almost as fast as they go on the market—having a realtor with knowledge of the market and relationships with other realtors can benefit you in the long run as you navigate through the home buying process. In some cases, taking out a loan with a local lender can also look more favorable for the sellers and realtors involved in the contracts and negotiations. 

The pandemic is shifting where people are buying.

With many people working remote full-time or with a hybrid approach, we are seeing some people expand their geographic radius. Before the pandemic, many were tied to a specific city or urban area as a center for business for work. Because of this, commute has been a key consideration when home buying. With the shift in remote work, many buyers now have great flexibility without being tied to a certain location. Whether that is outside of the city limits or thousands of miles from their work headquarters, we anticipate this change will continue to evolve and impact how buyers approach home purchasing.

While purchasing a home in today’s housing market may seem overwhelming, remember that it’s still a good investment to purchase a home, despite the current environment.

 

Matt Locke is the national mortgage sales manager at UMB Bank.

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Originally Appeared Here

STATEN ISLAND, N.Y. — James Prendamano, 47, said some of his earliest memories include tagging along with his mother to show houses to prospective buyers.

“I’ve been around real estate since I was knee-high to a grasshopper. Literally, as far back as I can remember, I have memories of going to appointments and late nights in the office with mom,” he said, referring to his mother, who owns Casandra Properties in St. George, where he launched his real estate career.

However, in recent years, Prendamano said he noticed “the game has changed” — real estate can now be bought and sold in a digital space. And this was particularly highlighted during the coronavirus (COVID-19) pandemic.

“I have very aggressive goals and a clear vision for what a successful brokerage looks like today and well into the future. We are not simply a real estate company, we are building leaders. We are teaching financial literacy — constantly honing our skills and learning,” he explained.

He added that this is why he launched PreReal, Prendamano Real Estate in Bulls Head, and he plans to open a second office soon in Tottenville.

“It was time [to open his own office],” said Prendamano. “The landscape has changed so much over the last few years, we felt it was a perfect time to offer an option to agents and our clients that was better situated for success. It’s a very exciting time to be in real estate.”

TWO DIVISIONS

Prendamano said he recognized it was no longer sufficient to be a “great negotiator” in the real estate industry. And for this reason, he split his team — currently comprised of 22 members — into two distinct divisions: marketing and digital.

“Today you must be a digital guru and marketer as well,” said Prendamano. “We have a full-blown marketing department that currently consists of five team members. Each of them are experts in their respective trades. Their job is to get as many eyes as possible on the property at the right time and focused toward the correct audience.”

In a rapidly changing digital world, Prendamano said it’s important to have team members dedicated to this aspect of the business.

“The digital world is changing so rapidly, it is our belief you need dedicated experts who constantly stay on top of the latest algorithms, tools available and overall data analysis,” he said. “This allows our agents to focus on generating new deals and on the negotiations. Real estate, for most people, will be the single largest sale and/or purchase in their lives. As professionals we owe it to our clients to deliver the absolute best. This model allows us to do just that.”

SPECIALITIES

Prendamano said real estate today is highly specialized, so he has created divisions in PreReal, Prendamano Real Estate specializing in commercial, residential and consulting aspects of the industry.

“On the commercial side we specialize in acquisitions, sales and leasing,” he said. “Residential specializes in seller representation [listings], buyer representation and investment sales. On the consulting side we handle a wide array of clients, from institutional to local businesses.”

PODCAST

Prendamano and his team also have launched a weekly podcast — dubbed PreReal Podcast — that addresses a variety of topics, from tips for investors to technology topics impacting the real estate industry.

“Personally, I have worked very hard to round out my skill set. I am a deal junkie at heart, but I take great pride in the wide array of deal experience I have accumulated over the years,” he said.

Prendamano and his team have launched a weekly podcast that addresses a variety of topics, from tips for investors to technology topics that impact the real estate industry. (Courtesy of PreReal, Prendamano Real Estate)

“The podcast has been so transformative for me. … We have built an audience in over 60 countries, we are approaching 20,000 downloads/plays and it has been an amazing way to learn, connect and impart my knowledge to the masses,” added Prendamano.

The agency also has a book club, which hosts weekly meetings.

“We have been pouring through amazing books as we refine our approach, pick up new tactics to use in our negotiations and day-to-day life. It’s an amazing way to connect with the team, and we all benefit from each other’s experience and interpretations of the books,” said Prendamano.

PREREAL, PRENDAMANO REAL ESTATE AT A GLANCE

Website: www.prereal.com

Facebook: www.facebook.com/JPrendamanoCP/

Instagram: www.instagram.com/j_prendamano/

New Businesses in Focus is a weekly column that relates the stories of new Staten Island business owners. If you have a new business on Staten Island, e-mail porpora@siadvance.com.

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