People tend to ask, “How is the housing market?”. To be frank, that question can’t be answered with a simple “good” or “bad” like most expect. There is no such thing as a national housing market. The fact is, the nation has multiple markets, including markets within markets and so forth. One can generalize and find the average value of homes within a state, but each city in a particular state contributes different statistics that are either aligned or contradictory with the state average.

Click for interactive map of US housing markets.

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The home is currently listing at $23,900,000, a jump from $23,500,000 last summer. Built by Richard Landry on 1.26 acres, the mansion includes 7 bedrooms, 13 bathrooms, a theater, an elevator, a spa and gym, and a guesthouse.

Drake is now moving into a $9,000,000 – 7,500 square-feet mansion in Hidden Hills, Los Angeles, located in the westernmost part of the San Fernando Valley. As of now, it is unknown whether he is renting it at $45,000/month or if he purchased it. The mansion comes equipped with a tennis court, five stall horse facilities with riding arena, a sand volleyball court a mechanical bull, 24 seat theater, game room, and a wine cellar/tasting room.

“recognizes outstanding ideas that redefine skyscraper design through the use of new technologies, materials, programs, aesthetics, and spatial organizations, along with studies on globalization, flexibility, adaptability, and the digital revolution. This is also an investigation on the public and private space and the role of the individual and the collective in the creation of a dynamic and adaptive vertical community. The award seeks to discover young talent, whose ideas will change the way we understand architecture and its relationship with the natural and built environments.”

Let’s take a look at the winners.

3rd Place: Monument to Civilization: Vertical Landfill for Metropolises
Lin Yu-Ta, Taiwan

Monument to Civilization: Vertical Landfill for Metropolises

This design utilizes the power of trash to help people reconsider what they waste, transfer the energy made from decomposition into pliable usage for saving power and energy, and to cut the cost of trash transportation to outside the city. Read the entry here >>>

2nd Place: Mountain Band-Aid
Yiting Shen, Nanjue Wang, Ji Xia, Zihan Wang, China

Mountain Band-Aid

” The “Mountain Band-Aid” project seeks to simultaneously restore the displaced Hmong mountain people to their homes and work as it restores the mountain ecology of the Yunnan mountain range.” Read the entry here >>>

Zhi Zheng, Hongchuan Zhao, Dongbai Song, China

Himalaya Water Tower

This design, ”that seeks to simultaneously return the displaced Hmong mountain people to their homes and work as it restores the ecology of the Yunnan mountain range”. Read the entry here >>>

There is no doubt that today’s homebuying market presents challenges. Current trends show the tests we faced in 2011 will continue throughout 2012. However, there are pockets of opportunities to grow our business amidst a contracting market. Even though challenges are expected there are still many opportunities:

Home ownership dream still alive.
Despite today’s economy, many people still aspire to homeownership. A majority still believe that a home is one’s most important financial asset, and that buying a home is one of the best investments a person can make.

It’s a buyer’s market.
Housing is expected to remain extremely affordable, and interest rates are expected to remain near or at all-time lows. For many potential customers, this combination of low rates and affordable home prices means now may be a good time to buy a home.

Renovation lending.
The inventory of REO properties is expected to increase in the next year, making it possible to capitalize on renovation lending for damaged REO properties.

First time homebuyers.
Distressed properties are expected to remain a large proportion of home sales, and there is an opportunity to influence, educate and inform the first time homebuyer group to purchase more distressed homes.

TRENDS LIKELY TO CONTINUE IN 2012
- 40-45% of all home sales in 2011 went to current homeowners with a combination of both primary residence and vacation usage
- 30-25% of home sales went to first-time homebuyers
- 20-25% of home sales went to investors

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#infographics

Here are the top 5 zip codes Angelenos are looking at:
- 91436, Encino
- 90036, Fairfax/Mid-Wilshire/Hancock Park
- 90066, Mar Vista
- 90064, West LA/Cheviot Hills/Rancho Park
- 91604, Studio City

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Click here to read the article from DS News.

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