Rose Cottage Ltd

++ Five Costly Homeowner’s Insurance Mistakes

++ 3 Fundamental Tips for Real Estate Investing Newbies

++ Bathroom remodeling should start at the studs

++ The 13 hottest real estate markets in America

Keep in mind that “better” doesn’t always have to mean “bigger.”

++ 4 things you need to know before trading up to a better home

If you’ve been here more than once, you know how I feel about property taxes…

++ Really rich real estate: San Francisco’s five most expensive property tax bills

Here’s one that ramps up this time of year, be warned…

++ Consumer Fraud Task Force Warns Consumers About Air Duct Cleaners’ Practices

Ridiculous title on this next one, but it’s the content that counts!

++ A not-so-sexy home-improvement project with real benefits

Happy Weekend!

I was watching “Selling New York” this week and as usual, was amazed at the cost of real estate in that area.

++ Stable real estate prices hide big changes in many city neighborhoods

“The median price for a home in the city rose only 2%, to $475,000, based on a Daily News analysis of 2012 and 2013 sales figures from StreetEasy.com.”

It always knocks me off my sofa to realize how many people can be planning to spend over a million dollars on a apartment. There was one apartment for sale – granted with spectacular views of the city and high end appliances, etc., but the price? $1.695 million. The size? 851 square feet.

That makes the square foot price a whopping $1,992.

Another, larger apartment of 2,750 square feet – which must feel like quite a spread in New York, was sold for $2.995 million. Price per square foot? $1,090.

“Location, location, location” – even in New York, boroughs, villages, and neighborhoods have their own distinct flair and their own pricing structures.

This is news to keep in mind for anyone contemplating an investment in real estate.

The prices in your proposed area are probably not as high as in New York, but the price per square foot will probably be nearly as varied. The further out of town you get the more this price difference will have an impact. Buy a .75 acre lot in Raleigh, North Carolina – your lot-alone price will likely be over $300,000. Buy a 5 acre lot within an hours’ drive of Raleigh and you may be looking closer to $9,000 per ACRE.

In New York – one street over from the “preferred path” might drop the square foot average price $400 – $500 per square foot.

It is a bewildering time in the US economy and the sands seem to shift from week to week. But interest rates are still at or near all-time lows. If you have the time to research and the money to invest, there are banks happy to get rid of foreclosure and short-sale properties.

Here are a few links to get you thinking:

++ What is a “short sale?”

++ Auction.com

++ Frontdoor.com

++ Zillow.com – Foreclosures

++ HUD Foreclosures

Stay warm – only 55 days until Spring….

If you’re really looking for a deal on a property, investment or otherwise, an interesting place to research is real estate auctions via the US Treasury.

Here are just a few examples of properties coming to auction soon:

++ Las Vegas, Nevada: Single Family Home, 3 bedooms, 2.5 baths

++ Centennial, Colorado: Single Family Home, 4 bedrooms, 4.5 baths

++ Cedar Hill, Texas: Single Family Home, 3 bedrooms, 2 baths

++ Orlando, Florida: Condo, Leasehold Interest, DisneyClub Points!

++ Keswick, Virginia: (Near Charlottesville) Single Family Home, 3 bedrooms, 2.5 baths

All info that is available regarding these and other properties can be found online. Info regarding opening bid levels, any restrictions, date, time and place of sale, buyer’s requirements, etc., etc.

Here’s the link to view properties coming to auction in August and September 2013.