Emerging Real Estate Markets
I have just returned from the “Mile-High City” where they have altitude, medicinal marijuana and a pretty decent real estate market. I was at the annual National Association of Real Estate Editors conference where, for four days, we nutcakes who obsess about real estate lived and breathed it 24/7, consuming information. And alcohol. The main take-away: enjoy that drink. Significant declines in the number of homes for sale in many U.S. markets, and fewer foreclosures (or foreclosures on hold) are boosting the country’s battered housing market. I spoke at length to two of my favorite economists, Stan Humphries of Zillow, and Mark Fleming from CoreLogic, who gave me this zippy summary up in the hospitality suite of the Brown Palace Hotel:
You are looking at the beautiful vacation homes of Ross Perot, Jr. And Sr., right next to each other! (Ross Jr.’s is to the right of this picture, Ross Perot Sr. to the left.) They are nested right next to the famous ski area, located across from The Four Seasons Residence Club in beautiful Vail, Colorado.
Really nice piece here in the New York Times explains why we are beginning to see home prices creep — I said CREEP — upwards, even in markets like Phoenix and Las Vegas: lack of inventory. It’s a very similar situation here in parts of Dallas, mostly the Park Cities, Preston Hollow, and Lakewood: hip…
I’m off to NAREE, where for three and a half days all we do is talk about real estate. I’m moderating the panel on vacation homes featuring four of the nation’s top experts: Peter Kempf, president and CEO of Kempf International and an expert on the fractional market; Alex Iskenderian, Senior VP/COO Vail Resorts Development…
According to one of my favorite real estate websites, Trulia, Dallas ranks No. 8 among the nation’s most “gay-friendly” cities, speaking of real estate. And, the top 10 list of these gay-friendly neighborhoods in each city also happen to coincide with the pricest markets and neighborhoods in those cities. In otherwords, Trulia is just verifying something we already know: want your real estate to appreciate in value? Follow the Gayborhood!
