Florida Real Estate Markets dominate Top-10 Turnaround Report

Miami was the top "turnaround town" in the country in the third quarter, according to a report from Realtor.com. The rankings look at median price appreciation, reductions in age of inventory and inventory counts, along with unemployment rates.

Miami has one foreclosure for every 407 homes, an improvement over the national rate of one out of every 213. Condo sales have also increased 79 percent in the first five months of the year.

Six Florida markets were included on the list, with Fort Lauderdale ranked fourth.

Read on at Realtor.com (via theRealDeal.com)

Cash Buyers Rule

A phenomenon certainly not limited to the South Florida real estate market, the Fort Lauderdale Sun-Sentinel reports that the vast majority of home buyers in Broward and Palm Beach County are paying for their deals in cash, whether they hail from America or abroad.

That represents a marked shift since the years of the housing boom ca. five years ago, when approximately 10 percent of sales in Broward and 19 percent in Palm Beach County were cash deals.

Now, more than 60 percent of the September transactions in Broward and Palm Beach counties were from buyers paying cash – twice the national average.

"The cash buyer is the market right now," said Mike Pappas, president of the Keyes Company. "It's amazing to see the number of cash transactions in the marketplace. It boggles your mind." (Full article: Sun Sentinel via WPTV)

In addition, when I look at the modernist market data for October and first week in November, I not only observe the usual seasonal amount of cancellations and temporary withdrawals – people want to forget the global crisis and rather nest, instead of having buyers trample through cocktail hours and dinner parties.

There also is a noticeable number of transactions hanging forever in pending or backup status, finally falling through and being cancelled or sometimes marketed again. And quite a few deals go to cash buyers at lower prices than to those with financing clauses.

For now, the cash buyer rules.

Quiz: What Type of Buyer Am I?

Do you let impulse rule your decisions, or are you a more methodical consumer? Your past spending habits have a lot to say about what type of home buyer you'll make.

Take this quick quiz to see your strengths and possible buying pitfalls.

1. I save money: (a) on a regular schedule; (b) when I have money leftover; (c) pretty much never. I have very little savings.

2. When I shop: (a) I use a list; (b) I do pretty good about remembering what I need; (c) I tend to buy things that catch my eye.

3. How important is it for you to appear well-dressed and successful? (a) I know it's important for things to look good, but I don't like to overspend (b) looking good is worth spending a little extra money (c) I live to look like a million bucks!

4. I tend to return purchases to the store: (a) not often; (b) once a month; (c) all the time. If you have a receipt you can return it!

5. I have a car that I: (a) own; (b) make payments on; (c) lease.

6. Before I make a big purchase: (a) I research the latest prices and trends; (b) I think about what exactly I want to buy; (c) I've generally just gotten a raise or bonus.

7. Large purchases make me feel: (a) like a grown-up; (b) a little uneasy; (c) successful and in control.

If you answered mostly a's then you are a careful, methodical shopper. Your strengths in the home buying process are clear. You won't make an impulsive decision. Changes are you'll shop around a lot before you make your final choice. You have plenty of money saved. You are very money conscious. You and homeownership should have a beautiful relationship.

If you answered mostly b's then you tend to pretty good with your money. You don't overspend, but you should focus on saving more. Homeownership comes with a lot of unexpected expenses. Build up an emergency fund and a downpayment account.

If you answered mostly c's then you need to beware. You could very easily be an impulsive shopper. Looking good is really important to you, so be careful not to overspend on a home. You also may have a hard time with commitment. You may lease your car or return items to stores. Be sure you spend time running real numbers and putting together a solid plan for buying before you start the process.

Via Realty Times. Cartoon ©Matt/Daily Telegraph

Contemporary Art Museum, Raleigh, NC

Raleigh, NC, is going for architecture.

At least some times. (Endangering buildings such as the international-style offices at 419 and 425 North Boylan Avenue dull the shine a bit).

Aiming for good architecture is excellent. It's also more unusual than it sounds. Think "though the Spirit may be willing, the Flesh is weak".

A bit clearer: between politico lip-service, commitment and final action lie several abysses.

While architects and Raleigh's citizens are proud to watch Frank Harmon’s AIA-NC Center for Architecture and Design in Raleigh grow towards completion under much attention, a smaller gem has already opened earlier this year: The Contemporary Art Museum (CAM) of Raleigh.

Local architects Clearscapes and LA-based Brooks + Scarpa got to work and re-adapted an existing warehouse CAM owns in Southwest Raleigh’s “Creative District” to become the museum’s main exhibition space. The new design encompasses 20,000 sf (1,900 sm) and features perforated screens on the entrance canopy, a signature Brooks + Scarpa element.
 
Curious? Read on here:

• ArchitectureNewsPlus has elevations, floor plans, more photos and an architects' statement
• The Contemporist has more details
• New Raleigh reported several times about the project, including its opening

Details:

• Project name: Contemporary Art Museum (CAM) Raleigh
• Client: Contemporary Art Museum
• Location: Raleigh, NC, United States
• Program: Exhibition spaces, archive and art storage, educational center, administrative offices, catering kitchen, sculpture garden
• Area: Total Square Footage: 22,300 sf (900 sf new entry lobby)
• Year: Completion 2011
• Cost: $5,800,000
• Architects: Brooks + Scarpa, Clearscapes 

 

Photo © John Edward Linden

___________________

I.M. Mima, 22 Dec 1920 - 14 Oct 2006 

I.M. Steven Paul Jobs

"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma—which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. 

And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary."

– Steve Jobs (24 Feb, 1955 – 5 Oct, 2011), American computer entrepreneur and inventor, co-founder, chairman and chief executive officer of Apple Inc , at Stanford University Commencement Address June 2005.

The modern world owes him; immensely so.

_____________________________________________ 

This blog created on a Mac, as is all my work since 1992.

Open House Chicago, Oct 15 - 16

Chicago Opens Its Doors 

Following in the footsteps of a growing number of cities around the world—including London, Melbourne, Barcelona, Dublin, Toronto, New York or Denver—Chicago will launch its own Open House weekend October 15 and 16. 

Emil Bach house (1915), by Frank Lloyd Wright. Photo © Caroline Stevens

 Sponsored by the Chicago Architecture Foundation, Open House Chicago offers architecture buffs the chance to see, free of charge, more than 100 sites, including many that are normally off-limits to the public.

 

Details and a list of upcoming Open House events worldwide, for the Globetrotter in you, here.

An Open House event also takes place nationwide (!) throughout Germany every year in June, next time June 23 and 24, 2012. More about that here.

Via Arch Record Daily

Vote for Kronish House / Modernism lecture in Fort Lauderdale Sep 29

• "Modernism in Architecture outside the Traditional West" – first lecture in the Fall-2011-series of Florida Atlantic University School of Architecture. Thursday, Sep 29, 17:30 (5:30 pm), at the Fort Lauderdale Museum of Art.

• Please vote for the Kronish-house by Richard Neutra (below) as Wall Street Journal's "house of the week". Your vote counts! A status update on the Kronish house demolition alert is here.