Discounted condos create opportunity for first-time homebuyers

Robust appetite for more living space and privacy is keeping a lid on condominium prices, spurring sales in some metros as buyers take advantage of the discounts.

A recent Redfin showed that, on average, the typical US single-family home sold this year was purchased for a premium of $58,000 or 17.3% more than the typical condo – marking the largest premium since Redfin began tracking this data since at least 2013.

Despite a white-hot US housing market amid COVID-19, the condo market “has missed out on much of the gains as homebuyers have left dense cities in search of more space and privacy AKA single-family homes,” Redfin said.

The same is true of Seattle’s housing market, where single-family homes are selling for a 17.9% premium, according to local Redfin real estate agent Forrest Moody.

“Before the pandemic, it was challenging to find a condo in Seattle for less than $500,000,

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Chinese e-commerce giants come to rescue of ailing property sector, step up sales of discounted homes on Singles’ Day

a group of people walking in front of a crowd: An event launches Tmall’s ‘Singles’ Day’ event in Wuhan, in China’s Hubei province, on November 1. TmallHome will release most coupons and discounted homes on Wednesday. Photo: Getty Images

An event launches Tmall’s ‘Singles’ Day’ event in Wuhan, in China’s Hubei province, on November 1. TmallHome will release most coupons and discounted homes on Wednesday. Photo: Getty Images

Some of China’s biggest e-commerce platforms are teaming up with property developers to sell homes at discounts during this year’s Singles’ Day shopping festival.

The event, held on November 11 every year, was started by e-commerce giant Alibaba Group Holding in 2009 and has since surpassed other shopping events such as “Black Friday” and “Cyber Monday”.

Tmall, Alibaba’s e-commerce platform, said 800,000 homes in 3,000 residential projects – or 40 per cent of major new developments currently on the market – will be available for sale. Each unit will be offered at a discount of up to 1 million yuan (US$151,101).

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Off Market Pittsburgh’s Abundant Inventory Of Discounted COVID-19 Foreclosed Properties Now Available

Local Investors Can Save 30-70% Off Real Estate Retail Prices

PITTSBURGH (PRWEB) October 22, 2020

Off Market Pittsburgh, a real estate investment company that specializes in securing off-market residential and commercial real estate in the greater Pittsburgh region, invites local real estate investors to discover its increased inventory due to market effects caused by COVID-19. As the number of sheriff sale and foreclosed homes increase at accelerating rates, now is an opportune time for investors and cash buyers to purchase a property through Off Market Pittsburgh and receive significant savings off retail values.

“COVID-19 has begun to cause a foreclosure crisis across the United States and the number of foreclosed properties in the Pittsburgh market is growing,” said Kyleigh Haynes, Owner, Founder, and CEO of Off Market Pittsburgh. According to CoreLogic, the number of US mortgages that are at least 90 days past due more than doubled from May to

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Walk To Work, Snag A Discounted Condo

What do you do when you need to lure residential buyers back to New York City in an era of commuting anxiety? This remains, after all, a time when many would-be buyers view trains, city buses and the subway as little more than pestilence pits.

If you’re like a number of today’s New York luxury developers, you tout the steps-away proximity to job centers of your new and upscale residences. And if you’re like at least one of them, 77 Greenwich, you go so far as to offer discounts on condominiums to prospective buyers whose employers are within walking distance.

In live-work ‘hoods like TriBeCa, Hudson Square, NoMad, the Financial District and others, developers are stressing their properties’ walkability to major job hubs and household-name employers. It’s surely among

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