Archive for January, 2007

Top 10 Cities For Technology

Wired has come out with a survey in their January issue that talks about the top cities in the country for technology. The places that if you want to geek out, you will find true happiness.
The criteria included: proximity to top-ranked engineering schools, tech jobs per capita, Geek2Geek Dating Service postings, Craigslists postings, Dorkbot [...]

26Jan2007 | Tom Royce | 0 comments | Continued

A 155 Million Dollar Spec Home

The ultra luxury housing market is getting a new addition as Tim Blixseth, a timber and real estate mogul, is building a spec home for the asking price of 155 million dollars. Thats right, a 155 million dollar home being built on spec.
They say you need to spend money to make money, and for a [...]

26Jan2007 | Tom Royce | 4 comments | Continued

Confession of a Stats Junkie

Do you ever read something and cringe knowing that you were pegged. Peter Coy at Business Weeks Hot Property has a great post about statistical misuse by those of us who write about real estate. And you know what? He is right and
I am guilty. Very guilty.
I am a stats whore. I love market trends [...]

25Jan2007 | Tom Royce | 2 comments | Continued

Home Sales Down For 2006 by 8.4% – Median Price Up 1.1%

The housing numbers are out from the National Association of Realtors for 2006 and they showed that sales were down by 8.4 percent while the median housing prices were up 1.1 percent for the year. This is in line for what we expected on a national picture for the most part although I am surprised [...]

25Jan2007 | Tom Royce | 1 comment | Continued

Foreclosure Rate Increases in 2006 With Higher Interest and Declining Values As Root Cause

The foreclosure rate increased this past year significantly as the housing boom ended forcing many marginal borrowers into default. The rate of foreclosure increased 46 percent over 2005 levels with one out of every 92 homes in the country facing some form of foreclosure.
The foreclosure rate is high and going to get higher in the [...]

25Jan2007 | Tom Royce | 0 comments | Continued

Canadian Real Estate Appreciated 11% A Year Over Long Term

The buying and holding of real estate over a long term to create wealth is not a surprise to many, but a study out of Canada shows the long term benefits of owning real estate. When you factor that you will have housing costs to pay, and typically hold a mortgage against the property, the [...]

24Jan2007 | Tom Royce | 5 comments | Continued

Vacant Homes Are Half the Single Family Homes on Market in Early 2007

If you are looking to buy and move quickly, this is the best time of your life. The combination of over exuberant builders, homeowners who have moved and can not sell, and foreclosures has created a plethora of empty single family homes on the marketplace.
The number of vacant homes for sale nationally jumped more [...]

23Jan2007 | Tom Royce | 1 comment | Continued

Which City Is The Most Expensive To Buy In: London or New York?

Both London and Manhattan are very expensive cities to buy and live in. And in the face of housing issues in both England and the United States, these cities are holding their own and housing prices are increasing. The main reason is that they are the centers of finance for their countries and the financial markets [...]

23Jan2007 | Tom Royce | 0 comments | Continued

Worst Year Since 1990 For Massachusetts Real Estate

While this is not surprising to those watching the market, Massachusetts had its worst year for real estate in over a decade. While on paper this is a tough year, the price drops are not even touching the equity developed over the past few years so the only ones that are getting dinged are the [...]

22Jan2007 | Tom Royce | 2 comments | Continued