Are We Headed For Another Real Estate Bubble?

An article featured on money.msn.com brought the current state of the real estate market to attention.  The article notes the rapid increase in housing competition in specific parts of the country including coastal California markets, Phoenix and Tucson, Las Vegas, Denver, Boston, Seattle, Portland,  the Washington, D.C. metro and several Florida markets.  Homebuilder lotteries, camping outside of properties and buying homes sight unseen are once again becoming a trend.  The article states there was a 7.3% price rise nationally and it could rise an addition 3% this year.  Properties in these areas are receiving anywhere from 20-50 offers within the first day or two of listing.  Additionally, properties are being sold well above the original asking price due to the red-hot competition.  

To add an element of fairness to the buying process, builders, notably O’Brien Homes, are holding lotteries for homebuyers to ensure an equal chance of “winning”.  These lotteries are beginning to occur in more areas of the country.  Extreme buyer behavior including month-to-month markups and instant flips are also becoming more common around the country.  Whether this new era of real estate can be considered a bubble or not one thing is certain- demand in various markets is rapidly accelerating, resulting in what appears to be another housing boom.  

Click the link to read more about the bubble:

http://money.msn.com/debt-management/article.aspx?post=3657eaa1-cad2-4444-a26a-41f148641c70

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Most Expensive Listing in the United States: 50-Acre Estate in Greenwich Connecticut

499 Indian Rd. (Mead Point)

Greenwich, Connecticut

  

Listed for the first time since 1904, this 50-acre waterfront estate in Greenwich, Connecticut comes with an enormous array of impressive interior and exterior features.  There is ample room for a family and guests with 12 bedrooms, 7 full baths, 2 partial baths and a living area of 13519 sq. ft.  The view includes open panoramas of long island and the surrounding nature.  The main rooms have 12 ft. ceilings and many include beautiful carved fireplaces.  Other impressive features include a staff kitchen, wine cellar, pool house, 75 ft. heated pool, enormous spa, tennis court, stone carriage house, clock tower and ample garage space.  For those who appreciate a touch of history, this property comes with farm equipment and milking stalls dating back to the mansion's inception.  Declared the most expensive listing on the market in the United States, this property will not be available for long.  

To view the complete listing, click here. 

Price: $190,000,000

Bedrooms: 12

Acres: 50.5

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New luxury listing in Malibu, California

New listing for a stunning 30 acre paradise in Malibu, California.  The renovated country home comes with a breathtaking view overlooking the orchard, canyon, streams and old oaks. The main house features 5 bedrooms, 5 baths and a pool.  Aside from the main house there are 2 guest houses for all of your friends and family.  The larger of the two is a 2500 sq. ft. guest house complete with 3 bedrooms, 2 baths and 3 fireplaces. The second guest house contains 2 rooms, 1 bath and 2 stone fireplaces.

The luxurious living area is not the only magnificent feature of this property.  There are two miles of private, wooded trails, four winter creeks, six acres of persimmon and avocado orchards with oak, elm, maple, apple, peach, plum, fig, nectarine, peer, apricot, orange, lemon, grapefruit, pine, redwood, pink mimosa and pepper trees-endless possibilities for cooking and baking!  This paradise is conveniently located near the beach and 101. 

If you can picture yourself in this stunning country home and nature paradise, go to castlesmag.com and check out the listing! 

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Real Estate Video Features Naked Man

 A video advertisement for a home in Australia features a naked model. It begins with him waking up, and follows him as he gets out of bed and goes about his morning while naked, providing a tour of the luxury $2.2 million home . The movie was made to target women, who influence around 80% of home buying decisions.

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Real Estate Agents Using Mini-movies to Show Luxury Properties

Real Estate agents have recently began marketing luxury properties by creating short videos of their homes. They are not simply video tours, but mini-movies complete with actors and story lines. They target consumers by marketing not only the house itself, but the lifestyle that comes with it. It is an interesting concept that "strikes an emotional chord with people" in a way that typical real estate marketing does not often do.

Below are some examples of these videos.

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