This is Price-Reduced.com where we talk a lot about real estate and a little about life.
Remember, you can check the transcript for this episode for links to information that peak your interest.
How in the world is real estate these days?
Techcrunch has an article about a new startup called Kazas. It aims to transform
the real estate process in Spain by reducing keystrokes,and saving the consumer time, providing accurate information and additional services. For those of you buying, selling, or working as an agent in other parts of the world, you should be thankful if you don’t have to go through the current four month home buying process.
What does British Columbia have in common with eight states in the U.S.? According to Realty Biz News, real estate agents will not be able to represent both parties in a real estate transaction, commonly referred to as Dual Agency.
Can you guess one country where the Luxury Home Market is booming? Vietnam it is. MansionGlobal has an article that does a great job of explaining the factors contributing to this expanding market including legislative changes, being more affordable than other popular Asian locations, and the coming completion of mass transit and airports in the country.
Where are we finding appreciation slowing and prices being reduced? Bloomberg has an article entitled “The End of The Global Housing Boom” where some of the players affected are London, Beijing, Sydney, and Manhattan.
Get your printer out and let’s build a house. Well, maybe not your printer but 3D printers have made the news.
In Switzerland, a robot builds a 3 story home.
In Shanghai, 10 houses are built in one day by 3D printers.
Learn more about the 3D printer that builds homes for a cost of $4,000. in 24 hours or less in developing countries and for about $10,000. as shown in Austin Texas.
Let’s take a closer look at the U.S. and the state of Idaho.
Boise has a shortage of housing due to the influx of people calling it home. Rents have risen 20% over the last year. One thousand units a year are needed for the projected influx.
It is also listed as number three of the 172 best cities in the U.S. to flip houses in, according to an article by Wallethub. Of course, it was beat out by another Idaho city, Nampa, which took the number two spot. Who took number one? Is it your city?
Now, who would have thought that a rock thrown in the water halfway across the world would impact Boise Idaho.
What metaphorical rock?
Here is what Idaho’s Erik Kingston says in this Idaho Press article “the nationwide market is being affected by a huge influx of investment from overseas, largely from China.”
So what happens in China, doesn’t stay in China. The large influx of investment capital dropped in the world’s real estate markets have created a financial title wave washing over the shores of even Boise Idaho.
Lets invest in ourselves for a moment.
Whether a real estate transaction or personal interaction, isn’t it our expectations that in large part determine whether we feel we are treated fairly or taken advantage of?
If you want to be entertained, there is a video except from Frans De Waals Fairness Study with Capuchin monkeys. Two Capuchin monkeys in cages side by side are given pieces of cucumber and in return they giveback a rock. Both monkeys quickly return a rock for each piece of cucumber. But what happens when one of the monkeys is given a more enjoyable treat, such as a grape. Now, you can search for this video or go to the transcript of this episode and watch what happens.
Real Estate prices in many parts of the world are still increasing. But what if you are in a location where they are leveling off but your expectations are that they are still increasing?
What if you make an offer on a piece of property not expecting the seller to take it, and they do?
How do you feel when you put your house up for sale and multiple offers come in. Was it under priced? You work through that and then the appraisal comes back low which means the bank says it is not worth what your buyer was willing to pay.
When you are buying or selling a house and there are two or three of you having to agree on what you are doing, are your expectations different?
Now here is the big question.
Which one of you is correct in your expectations?
I expect you learned something listening today.
Thank you for listening to Price-Reduced.com and always remember, financially speaking, “When it comes to real estate, the best time to buy or sell, is when you don’t have to.