Morgan Brennan, Forbes

#THEKEY2012

REAL ESTATE IN THE NEWS

MORGAN BRENNAN, FORBES

WHAT’S GOING ON AT FORBES

• The “95-year old startup”

• Subscriptions up more than 5%

• 37.5 Million “Unique Visitors”

#THEKEY2012 MORGAN BRENNAN, FORBES

Real  Estate  Coverage  

•  Forbes  Magazine  

•  Forbes  Life  Magazine  

•  Forbes.com  

•  Syndica<on  Partners  

PROPERTY  PORN  Forbes  Life  ‘Castles’  Feature:  H.  Keith  Melton’s  Real-­‐life  Spy  mansion  

NATIONAL  NUMBERS  

•  Home  Prices:  •  Home  Prices:  4%    •  Exis<ng-­‐Home  Sales:  4.79  million  units  •  New  Home  Sales:  389,000  •  Housing  Starts:  894,000  •  Foreclosure  Rate:  1  of  every  728  homes  

HOME  PRICE  HISTORY:  SIGNALING  RECOVERY  FHFA  graphs  out  the  evolu<on  of  na<onal  home  sales  prices.    

HOME  PRICE    The  FHFA  maps  out  third  quarter  price  apprecia<on  according  to  state.  Dark  blue  signifies  the  largest  price  jumps  while  red  signifies  the  largest  

losses.  

Best  Markets  For  Home  Prices  

•  Phoenix,  AZ  :  9.5%  •  Bismarck,  ND:  8%  •  Cape  Coral-­‐Fort  Myers,  FL:  7.5%  •  Boise  City,  ID:  7%  •  Bakersfield,  CA:  4%  

Worst  Markets  For  Home  Prices  

•  Gainesville,  FL:  -­‐7%    •  Tallahassee,  FL:  -­‐6%  •  Poughkeepsie,  NY:  -­‐6%  •  Olympia,  WA:  -­‐5%  •  Atlanta,  GA:  -­‐4%  

HOME  BUYING  

WHERE  •  Tech  Hubs  

•  Energy  Belt  

•  Safe-­‐Haven  Ci<es  

•  Luxe  Second  Home  Markets  

WHO  •  First-­‐Time  Home  Buyers  

•  Investors  

•  Foreign  Buyers  

•  Billionaires  

U.S.  FORECLOSURE  ACTIVITY  RealtyTrac’s  Foreclosure  Heat  Wave  Map  shows  state  filing  

ac<vity  for  October.    

HOUSING  AND  THE  ECONOMY  

 •  0.3%  of  GDP  (12%  of  en<re  rate)  

•  Residen<al  investment:  posi<ve  for  1st  <me  since  2005  

•  Interest  Rates  projected  to  stay  at  record  lows  in  2013  

RESIDENTIAL  CONSTRUCTION  

FISCALL  CLIFF  

•  Mortgage  Interest  Deduc<on  

•  Mortgage  Forgiveness  Debt  Relief  Act  

•  Federal  Income  Taxes  

2013  PROJECTIONS  

•  Home  Sales:  8%  increase  (NAR)  

•  Home  prices:  2-­‐3%  increase  (Freddie  Mac)    •  Mortgage  Delinquencies:  down  to  5%  (TransUnion)