Check out these real estate statistics and data points…
$1.7M
That’s the price tag of a single public toilet being built in San Francisco. Construction is expected to take at least three years.
While on one hand it may signal that prime real estate is still demanding a high price tag, it is probably safe to bet that very, very little of this money will actually end up being spent on the toilet. Which could easily be built for 1% of that.
40 Years
One real estate company has made the headlines for their now notorious 40 year listing contract. Clearly not a great sign that they have any confidence in being able to sell the property.
In fact, customers have reported that they were lured in by as little as $900 in emergency cash to sign the listing, only to have their property end up in foreclosure, and owing thousands of dollars to the broker, despite losing their homes.
$870k
That’s how much of a financial loss singer Harry Styles took on his former LA home. He purchased it for $6.87M, then sold it for just $6M. It has now been relisted for an optimistic $8M.
98%
This is how many US based CEOs told the conference board that they are preparing for a recession over the next 12-18 months. That’s up to 99% for CEOs in Europe.
It’s unclear what the remaining 1-2% are basing their optimism on. The fear and reactions being made by these CEOs is almost certain to create a recession by itself. If they are only just beginning to prepare now, most of their businesses probably won’t survive.
The great news is that this is going to bring a lot of deals and negotiability for real estate investors.
50%
The latest data from Zillow shows that over 50% of home sales in SWFL are now completing for less than listing prices.
While prices still seem to be up by double digits over last year, values have peaked and fallen in all major markets in the region on a month over month basis.
It’s certainly time to make new offers and find better value deals than we’ve seen in a decade.
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- Ericka B., Real Estate Investor, CA