Inside Real Estate - February 6th, 2020 | Inside.com

Inside Real Estate (Feb 6th, 2020)

Cheapest SF listing is $100K parking spot / Condo amenity: doctors' appointments / Nickelodeon president's $17M home

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1. The cheapest real-estate listing in San Francisco is a $100,000 parking spot. Situated in a condominium complex parking garage, Parking Spot No. 140 at 88 Townsend is being listed by Compass real estate agent Bill Williams, who said a recent spot a few feet away sold for $90,000. Williams adds: "When you buy any asset and you have it, it’s not like you spent the money. You can turn around and sell it again.” To buy an actual condo in the complex, home shoppers can opt for an $849,000, one-bedroom, 644-square-foot unit. - SFGATE

2. Real estate developers are aiming to keep up with the push toward electric power. Some states, like California, are enacting ordinances that encourage all-electric construction. Last July, Berkeley, California, became the first city to ban natural gas hookups, and other markets are taking note. The “electrify everything” movement is spreading through the country, with some developers choosing electric hookups even when it’s not legally required. However, some residential developers are facing some problems, as home shoppers still overwhelmingly prefer gas stoves to electric ranges. - NEW YORK TIMES

3. Throwback Thursday: The John Proctor house in Peabody, Massachusetts. Remember when the home formerly owned by Proctor — and built in 1638 —  was listed for sale in October 2018? It didn’t last long on the market. The 3,910-square-foot house sold at full asking price, $600,000, just months later. It was said to have been owned by one of the Salem Witch Trials victims, Proctor, who is a historic figure remembered for his opposition to the witch trials. The storied house has been thoughtfully preserved with its Colonial architecture still intact, though little is known about it since it was privately owned for decades. - REALTOR

4. A growing expat population and rising home prices are transforming the residential real estate market in Amsterdam. A consistently high demand for luxury dwellings in the city has pushed the average price of homes to $560,000 as of the third quarter of 2019. The average home price in Amsterdam East rose from $245,000 in 2013 to $537,000 in 2020; the north saw a spike of $230,000 to $450,000. The market is expected to continue at this pace, since many existing Amsterdam properties are under rent control and the demand for luxury units is expected to outnumber supply. That should raise home prices even more. - WALL STREET JOURNAL

5. The coronavirus is making it more difficult for Chinese investors to buy real estate in the U.S. That's according to MarketWatch, which reports that the virus is worsening U.S.-China trade deals even as previous geopolitical struggles persist. Roughly 24,324 people have contracted the coronavirus in China, and at least 490 had died, according to China’s National Health Commission. Experts note that in 2019, buyers from China closed on $13.4 billion in American residential real estate, a plunge from the $30.4 billion in buys they made the prior year. Lawrence Yun, chief economist for the National Association of Realtors, said the virus could actually spur sales in the long term: “The demand for U.S. real estate may actually rise from wealthy Chinese because they’re getting tired of this type of situation where Third World-type market behavior crops up.” - MARKETWATCH

6. Nickelodeon president Brian Robbins just closed on a $16.8 million Beverly Hills, California, mansion. He and his wife, Tracy James, purchased the home designed by Irish-born architect Paul McClean, who's been credited with launching the modern-house movement throughout the Los Angeles area. This property features a wine cellar, home theater, car gallery, wellness center, lap pool and a subterranean level that boasts a wet bar/lounge. Robbins and James are no strangers to moving: Real estate pros note that the power couple typically change abodes every couple of years. - VARIETY

7. The commercial real estate market in California is expected to expand in 2020, according to the Allen Matkins/UCLA Anderson Forecast's winter 2020 Commercial Real Estate Survey. The report, released on Wednesday, shows that “the California economy will return to faster growth in 2022, and will generate new jobs requiring additional office space.” Despite a predicted economic slowdown in the new year and a decline in the retail sector, experts say that rents, office space and warehouses will be in demand in coming years for most of the state, from the Bay Area to southern California. - TIMES OF SAN DIEGO

8. Amenities watch: While wellness amenities are a growing trend in American housing, a Singapore complex is pushing the health-lifestyle envelope by introducing a building with a telehealth kiosk. Expected to debut in 2023, the 548-unit OLÁ condominiums will offer residents virtual medical consultations through a booth equipped with a webcam, sensors and other screening capabilities. The unique makeshift health clinic will feature general practitioner physicals. It was designed by the Singapore telehealth startup HiDoc. - ZDNET

9. Miami nightlife tycoon Mio Danilovic is reinvigorating manmade Biscayne Bay isle Watson Island with European-style waterfront establishments. Danilovic plans on debuting Joia Beach, a bar and restuarant on a waterfront property that can be accessed by boat. He said it would be similar to Soho House — the popular members-only club — but accessible to the public and more lounge-forward than a nightclub: "This will feel more chill, laid back," Paciello said. "You could spend most of the day and if you want to go and get crazy, you leave later on and go to one of those places.” - BISNOW

10. Longtime National Association of Realtors officer Nobu Hata is leaving the organization. The former director of industry outreach and engagement strategy has been at his post for seven years and is now departing to join Berkshire Hathaway. Hata has been an outspoken leader in real estate social media best practices, online reputation, marketing and using tech to make a splash with clients. - INMAN

Written and curated by Darla Guillen Gilthorpe. Darla writes for the Houston Chronicle, where she was part of its 2018 Pulitzer Prize finalist staff. She was previously an editor at Vox Media site Eater and has had bylines in Elle Decor, SFGate and various other outlets. Follow her on Twitter here.

Edited by Beth Duckett, staff writer at Inside.

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