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August 24, 2006

New home sales see largest drop since February

Filed under: Homes for Sale, Real Estate @ 9:22 pm

Sales of new homes dropped in July by the largest amount since February while the inventory of unsold homes climbed to a record high.

Piling on more proof that the housing boom is over, the Commerce Department reported Thursday that new home sales fell by 4.3 percent last month to a seasonally adjusted annual sales pace of 1.072 million units. The decline was the largest since an 11.5 percent plunge in February.

The July level of 1.072 million units sold was down 21.6 percent from a year earlier and below the 1.100 million that had been expected by analysts.

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August 23, 2006

How to make your home a movie star

Filed under: Homes for Sale, Real Estate @ 9:20 pm

As the love scene heated up and sparks began to fly, Richard Pettler turned to his wife and whispered, “The nerve of these people, [being intimate] in our living room without our permission!”

Pettler’s ire was as fictional as the romance. The Berkeley, Calif., resident had turned over his home to the cast and crew of a film—”Bee Season,” starring Richard Gere and Juliette Binoche—for three days. And like other owners who let their homes be used for movie and television shoots, Pettler was being compensated handsomely for allowing actors to intrude.

As is often the case, Pettler had been approached by a location manager—Rory Enke, in this instance—eager to use his house. Of the nearly 100 locations being considered for “Bee Season,” Pettler’s home meshed best with the director’s detailed vision.

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August 8, 2006

As demand cools, condos revert back to rentals

Filed under: Homes for Sale, Real Estate @ 9:13 pm

Growing demand for rentals stems from many factors. Buyers are finding the market less affordable, leading to fewer sales and a greater pool of renters. And conversion of condos took rental inventory off the market. Now that demand for condos has cooled, conversions are slowing and in some instances, condos revert back to rentals.

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