Tag: suburb

BUYING A HOUSE

Going ‘Full Suburb’: An Upsizing Couple Leave Brooklyn for New Jersey. Which of These Houses Did They Choose?

2 months ago
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Just before the pandemic hit this spring, Johnny Cruz and his girlfriend, Diana Yarmovich, moved in together, in a modern one-bedroom rental in Prospect Heights, Brooklyn.

Mr. Cruz was already working remotely, but the two had a tough time when Ms. Yarmovich began working from home, too. They swapped places between the bedroom desk and the kitchen table. Their rent hit $3,200 a month.

With mortgage rates enticingly low, they resolved to buy a home, but knew they couldn’t afford Brooklyn. Besides, it was hard to hunt in the city. “All the in-person showings were shut down,” Ms. Yarmovich said. “We defaulted to New Jersey, where they were letting you in for private showings.”

New Jersey, where they both grew up, was an easy fit, as friends had started relocating there. “We took an inventory of our friends and realized we’d gotten to an age where this had happened,” said

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HOME VALUES

Lake Forest Chicago suburb real estate market revived

3 months ago
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A safe place to live is now “a big house on big property where you can safely social distance,” Fischer says. “We have those.”

Widespread lifestyle changes prompted by the pandemic—working, schooling and getting recreation all at home—have lifted many real estate markets this year as people trade up to larger spaces, commuting worries behind them since working full time in an office again is an open question. Few markets in the Chicago area have felt the shift as sharply as Lake Forest, which turned almost overnight from a moribund housing market into one of the suburbs’ most dynamic.

More homes sold in the six months just ended than in each of the four 12-month periods before that. Midwest Real Estate data reports 367 homes sold in the six-month period ended Oct. 25. Yearly average sales volume has averaged 320.

Lake Forest was among the suburbs where Crain’s reported sales

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BUYING A HOUSE

Why you shouldn’t buy a house in a poorer suburb in Australia

3 months ago
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a sign on the side of a building: MailOnline logo

© Provided by Daily Mail
MailOnline logo

Young Australians are being warned to avoid snapping up property in cheap suburbs as first-home buyer incentives are extended.

This month’s Budget offered a new round of the First Home Loan Deposit Scheme where property newcomers only need to stump up a five per cent deposit as taxpayers underwrite the rest of the 20 per cent deposit. 

Metropole Property Strategists director Michael Yardney said prospective first-home buyers looking to buy an investment property needed to be wary of poorer suburbs – even if they offered higher rental yields.

‘Cheap properties that command relatively high rents might sound enticing, but these tend to be located in poor capital growth suburbs or in lower socio-economic areas and you should be wary of the potential pitfalls,’ he said.



a house that has a sign on the side of a building: Metropole Property Strategists director Michael Yardney said prospective first-home buyers looking to buy an investment property needed to be wary of poorer suburbs - even if they offered higher rental yields. Pictured is a house at Mount Druitt in western Sydney

© Provided by Daily Mail
Metropole Property Strategists director Michael Yardney said prospective first-home buyers looking to buy

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