Vacation home demand soars during coronavirus pandemic

Home sales are booming in popular vacation spots, as the pandemic leads more Americans to seek places to work or relax within driving distance of home.

In traditional vacation destinations such as Key West, Fla., Ocean City, N.J., and Traverse City, Mich., online house shopping and pending sales are up relative to the country overall, according to a new analysis by Zillow Group Inc.

CONDOS COULD MAKE COMEBACK IN HOUSING MARKET IF SINGLE-FAMILY HOME PRICES KEEP RISING 

Similar to the recent rise in interest for suburban and rural homes that are a car ride from major cities, the growth in demand for homes in vacation towns shows how Covid-19 is reshaping home shoppers’ priorities, said Jeff Tucker, senior economist at Zillow.

“Home shoppers are particularly motivated to shop for a

Read More Read more

Bay Area office sublease space soars, firms retrench

SAN JOSE — The amount of office space available for sublease space has risen in the Bay Area — and has more than tripled in San -Francisco — an indication that work-from-home protocols amid the coronavirus may have prodded companies to rethink space needs.

Santa Clara County, the East Bay, and San Mateo County have all shown significant increases in sublease space, but San Francisco has earned the dubious distinction of suffering the largest increase by far in the Bay Area for the amount of space available for sublease, according to a new report from Cushman & Wakefield, a commercial real estate firm.

Significant increases in available sublease office space are a nationwide phenomenon but the difficulties are especially acute in the Bay Area, the Cushman & Wakefield report shows.

“The increase in sublease vacancy has been widespread, though one region has been hit the hardest: the San Francisco Bay

Read More Read more

Warehouse And Distribution Demand Soars, So Does Community Opposition



a house with a cloudy sky


© Provided by Benzinga



Real Estate Roundup is a weekly rundown of developments in the world of industrial real estate used for logistics and transportation. This week: Demand for industrial warehousing and distribution facilities is soaring, but communities frequently fight back against what they see as problems with noise, air pollution and traffic safety. Recent incidents in Florida, New York, Pennsylvania and California illustrate the situation. 

In the rush to expand warehouses and distribution facilities amid skyrocketing demand for online commerce, here’s a bucket of cold water for eager developers and elected officials.

Loading...

Load Error

Homeowners and residents often don’t want these facilities as their neighbors. The issue has popped up recently in Pennsylvania, Florida, California and western New York, to name just a few locations.

It’s easy to see why homeowners fight back. Large warehousing facilities can be loud and, in some cases, operate around the clock. Large

Read More Read more

Squadrons Soars Into Homes Today

Climb into the Cockpit on Xbox One, PlayStation® 4, Virtual Reality and PC with Cross-play Support in the Most Immersive STAR WARS™ Starfighter Experience Yet

Digital Soundtrack Featuring Score Composed by Gordy Haab Available Now

Watch the Reveal Trailer Here

Strap in pilots, and prepare for battle! Today, Electronic Arts Inc. (NASDAQ:EA), Motive Studios and Lucasfilm released the highly anticipated immersive, first-person, Star Wars™ space dogfighting experience, Star Wars™: Squadrons. The game features thrilling 5v5 multiplayer starfighter combat along with an original Star Wars story set after the events of Star Wars: Return of the Jedi™. Polygon even says, “Star Wars: Squadrons is every inch the spaceflight simulation that fans have been dreaming of for a generation.” In the authentic new story, players will speed to the frontlines of an escalating conflict experienced from the alternating perspectives of two customizable pilots, one serving the

Read More Read more

Home equity surges as demand soars and mortgage rates hover near lows

After a brief stall in home sales at the start of the coronavirus pandemic, homebuyers came rushing back in — so fast that prices never even took a hit. In fact, the gains in prices accelerated quickly, causing home equity to soar even more.  

Home equity for homeowners with a mortgage rose 6.6% annually in the second quarter, according to CoreLogic. Collectively, that adds up to a gain of $620 billion, or $9,800 per home.

Home values have continued to rise and are now up 5.1% annually, according to Zillow. Price gains accelerated in 48 of the 50 largest metropolitan housing markets across the country.

The reason is twofold: Demand is outpacing supply by a lot, and mortgage rates are sitting near record lows. The latter gives buyers more purchasing power.

The total supply of homes for sale was just over 29% lower annually for the week ending Sept. 12,

Read More Read more