Unique Homes Blog

This week’s Top of the Tweets
By Camilla McLaughlin

When is a mansion just too big? A group of neighbors in Benedict Canyon have banded together in protest of a mega estate planned for a 5-acre parcel in the prized 90210 ZIP code. They claim an 85,000-square-foot family compound is just too large.  Although the owner hasn’t been disclosed, the Los Angeles Times suggests it could be Saudi royalty. http://ow.ly/4jLAA

Real estate took a hit this week with both new and existing sales falling. New home sales fell 16.9 percent in February and existing home sales fell for the first time in seven months, sending a jolt through most observers. A month-to-month decline of 9.6 percent for existing home sales is significant, but most economists had predicted a long period during which sales would hover around the bottom of the market. So, a dip into negative territory should not be a surprise. Further evidence comes from pending sales data released by the National Association of Realtors (NAR) showing a month-to-month increase of 2.1 percent in February. Contract activity, according to Lawrence Yun, NAR’s chief economist, is 20 percent above the low point following the expiration of the tax credit. Tweets on recent sales data from Florida, Orange County, Calif., Illinois, Marin County, Calif., and others show some areas are bucking the February trend. Home prices, down 34 percent from the peak in 2007 according to Radar Logic, continue to deteriorate with foreclosures depressing prices.  (@WorldPropertych @jonlan @CAmagazine ) @DSnews brings us this link: http://www.dsnews.com/s/22-qg-k

Housing data continues to come fast and furious. Scarcely a week goes by without some data release or a barrage of comments on recently released data. If you’re having trouble keeping up, you want a cheat sheet to keep it all straight. @KCMcrew tweeted a link to Radar Logic’s Handbook of Major Housing Data. What’s ahead? The S&P Case Schiller Index and The Mortgage Bankers purchase applications.

Recovery pay off? Measuring the effectiveness of spending is a challenge but a study conducted by the Econsult Corporation found Recovery Act funds invested in public housing capital projects created thousands of jobs and billions in new economic activity. The study was published by the Counsel of Large Public Housing Authorities. http://bit.ly/hrhZJb via @alongLStreet

If your phone is ringing less often, you’re not alone, according to a recent study by Nielsen Media showing people of all ages are using the telephone less. The New York Times has a humorous take on the report and declining telephone usage, which seems to be relegated to aging parents and writers working alone. Since the link to this story came from @SABEW, the Society of Business Editors and Writers, I have to wonder if this isn’t a prompt to revise interview techniques.  http://ow.ly/4j00o

At Unique Homes, ultra luxury is always a focus, especially when we’re working on our upcoming edition of Ultimate Homes Magazine. This year we’ve seen an increase in ultra luxury spec homes. A tweet from Coldwell Banker brought attention to a new $60 million listing from The Jills in Miami that was featured on ABC News.   http://bit.ly/hXhYQt

Wine wise! Wine is one trend that extends through a range of demographics. A new study conducted by Wine Opinions shows the trade-down trend from expensive wines continued in 2010, according to @VinoIndustry. A large number of high-end consumers are still reducing their purchases of $30-plus wines, although there are indication some consumers are returning to higher-priced classics such as Napa Valley Cabernet and Bordeaux. http://bit.ly/fnmjMt

House plants can make you smarter? Really, according to a study reported in Scientific American that shows the presence of plants in an office setting boosts one’s ability to maintain attention. A tip of the Tweets hat to @NeuralCOrrelate for the link.  http://bit.ly/hczpQU

Lady Gaga: Two words that are instant attention grabbers, even for real estate. So it’s no surprise Lady Gaga’s recent rental for a California mansion (pictured) made waves in the Twitershpere via @luxitrend.  http://bit.ly/hXhYQt

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