The Real Deal - New York Real Estate News

Big city homebuyers are paying above asking prices

Posted: 26 Jun 2021 11:00 AM PDT

More and more homebuyers are paying above asking price in America’s largest metros. Strong demand and low supply means buyers are forking over up to hundreds of thousands of dollars above asking price to close deals, according to Inman, citing a Redfin study. Prices were highest in Oakland, where the typical home sold for nearly 11 percent over the listing in the first half of this year. Just over 5,200 homes sold for at least

Engineer raised red flags more than 2 years before Surfside condo collapsed

Posted: 26 Jun 2021 10:25 AM PDT

UPDATED, June 26, 8:21 p.m.: A 2018 report raised major red flags about the structural integrity of the Champlain Towers South, the Surfside condo building that partially collapsed this week, killing at least five and trapping another 156. The engineer tasked to survey the building for its 40-year recertification found “abundant concrete cracking and spalling” as well as failed waterproofing below the pool deck that was causing “major structural damage” to the slab below the

This house sale is no shell game

Posted: 26 Jun 2021 09:00 AM PDT

If a stone cottage in a country town outside Bath, England, isn’t charming enough, this listing also comes with its own tortoise-in-residence. Hercules, who is 94 years old, patrols the grounds of “the Old Dairy” ever so slowly, spending most of her time munching on veggies in the garden. She is included in the $1.1 million purchase price of the 2,600-square-foot home in the village of Box, according to a report in the Spaces. Hercules

Hong Kong housing prices race toward record highs

Posted: 26 Jun 2021 06:00 AM PDT

Pandemic homebuyers have been met with record-high prices, few options and fierce competition. Now the world’s least affordable housing market, Hong Kong, is set to break its historical ceiling, Bloomberg News reported. In the densely-packed city of 7.5 million people, demand remains high, despite a troubled economy and the looming specter of a mass emigration spurred by political turmoil. Buyers have flooded the market for luxury apartments: Recently, 88 vied for a single unit at