TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/106030
In improving metropolitan areas, it's a winner-take-all environment for buyers, while sellers in some cities are being courted by a bevy of interested parties competing for the best properties; as these trends push prices upward, all signs point to a sustainable return for the housing market. CHICAGO, ILLINOIS CLEVELAND, OHIO PHILADELPHIA, PENNSYLVANIA CINCINNATI, OHIO NEW YORK, NEW YORK Statistics: Buyer-Seller Index: 8.1 Median Days on Market: 119 Statistics: Buyer-Seller Index: 8.0 Median Days on Market: 91 Statistics: Buyer-Seller Index: 7.9 Median Days on Market: 117 Statistics: Buyer-Seller Index: 7.6 Median Days on Market: 99 Statistics: Buyer-Seller Index: 7.6 Median Days on Market: 160 It's a Fact… Home prices dropped in Chicago at the end of October 2012, the first time since March of that same year. It's a Fact… Cleveland ranks fourth on the list of the 10 worst performing markets in the housing recovery effort. It's a Fact… Philadelphia saw a 0.4 percent dip in home prices at the end of November 2012. It's a Fact… Cincy is the fourth biggest buyer's market in the country. Hot Home: The Urban Villa is one of three homes that comprises the ultra-exclusive King's Hill residence in Cleveland. The 3,782-square-foot dwelling has three bedrooms and four bathrooms and features a unique modern style. Dubbed the C-House, it sits on a quarter-acre lot nestled in the hills and lists for $1.25 million. Hot Home: Chef restaurateur Georges Perrier has slashed the price of his home yet again, after seeing it linger on the market for more than a year. The brains behind Philly's iconic fine dining establishment Le Bec-Fin decided to bid adieu to his digs after retiring from the restaurant. The three-story home is listed for $2.5 million and boasts five bedrooms, five-and-a-half baths, and measures in at approximately 9,000 square feet. It also has a guest house, an indoor pool, and five fireplaces. It's a Fact… First-time jobless claims dropped 350,000 for New York, which is good news for an area that had been beat up by the end of 2012. Hot Home: Oprah's interior designing right-hand man, Nate Berkus, has listed his Chicago condo for $1.89 million. The price has dropped after sitting on the market for several months (the original asking price was $2.65 million, which was then reduced to $2.399 million). The lush pad is in a vintage building built in 1928 and updated in the 1940s by renowned architect Samuel Marx and features custom upgrades by Berkus himself, including improved electrical work, hardwood flooring, appliances, and air conditioning. Hot Home: Cincinnati's quirkiest home is on the market. Famed architect Terry Brown spent 10 years creating the "mushroom" house with 35 of his former students from the University of Cincinnati College of Design, Architecture, Art, and Planning. The one-bedroom home has one bath, but what it lacks in space it makes up for in personality. It features a kitchen that could accommodate a small family or young couple, and for a mere $349,000, a lucky buyer could snap up one of the most talked about properties in the city. Hot Home: Renowned photographer Annie Liebovitz has listed her Greenwich Street lodgings for $33 million. The mansion comes in at around 10,200 square feet and surrounds a large courtyard. The worn, weathered hardwood floors have a lived-in patina that infuses the house with character. The master suite offers a wood-burning fireplace and a bathroom with windows that flood the room with light. The den of the master suite opens up to one of the townhomes, which serves as the famous photog's art studio. The M Report | 13