News Alerts. Oct. 30, 2013. Morning Edition. #RealEstate

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  1. Muskegon’s Realty Reality: Upturn in local housing market comes after years of struggle | News Alerts. Oct. 30, 2013. Morning Edition. #RealEstate

    No one knows the Muskegon market better than Bill Carlston — owner and agent at Nexes Realty, a 27-year veteran who has been a leading Muskegon and regional salesman.

    “I am having an incredible year,” Carlston said of making it through the lean years of the recession to post a 30 percent increase in sales so far for 2013. “But home values are still pretty soft. Thank God for these interest rates. They are our saving grace but we all know that these rates will be going up.”

    It could take much longer than he thinks.

    Source …

  2. Pound Rises Toward Four-Week High as U.K. House Prices Increase – Bloomberg

    The pound strengthened toward a four-week high versus the dollar after an industry report showed U.K. house prices increased for a ninth month in October.

    Britain’s currency appreciated versus most of its 16 major counterparts as the data added to evidence the economy is strengthening.

    This makes their exports more expensive.

    Source …

  3. What the Avenue of the Arts has meant to Center City real estate News Alerts. Oct. 30, 2013. Morning Edition. #RealEstate

    What has changed: Those South Broad Street buildings the vanished banks left behind have found new uses – and new investors – as hotels, condos, apartments, retail stores, and restaurants.

    What has made the difference is “the major demographic shift in the city,” said Jay Shah, chief executive at Center City-based Hersha Hospitality Trust, a national company whose Philadelphia hotels include the Rittenhouse and the Clarion.

    “The young people, the millennials, are now very urban,” Shah said, “not like the baby boomers.”

    “If we didn’t reinvent South Broad Street as a street with shops and restaurants and culture – where would we be if we had depended on the office market?” [developer Carl Dranoff]

    Source …

  4. Housing market surge now spreads outside capital –


    While demand in Dublin has been strong for some time, sparking warnings of a second housing bubble, the market has been stagnant elsewhere.

    However, an analysis of the Property Price Register by the Irish Independent shows a surge in activity across the country, with demand particularly pronounced in Dublin, Galway and Cork, which is resulting in a sharp increase in prices.

    The analysis shows overall demand for housing has increased year-on-year, and prices are on the rise in six counties.

    Estate agents say that after years of a dormant market, cash buyers are returning in numbers and are seeking good-value quality homes — but demand is outstripping supply.

    Source …