Professional Documents
Culture Documents
<RXU/RFDO0DUNHW
V 5$1&+26$17$
([HFXWLYH6XPPDU\ Single Family Homes
7KLV:HHN
5HDO7LPH0DUNHW3URILOH 7UHQG
0HGLDQ/LVW3ULFH r
$VNLQJ3ULFH3HU6TXDUH)RRW r
7KHPHGLDQOLVWSULFHLQ5$1&+26$17$0$5*$5,7$&$WKLVZHHN $YHUDJH'D\VRQ0DUNHW'20
LV
3HUFHQWRI3URSHUWLHVZLWK3ULFH'HFUHDVH
3HUFHQW5HOLVWHGUHVHW'20
,QYHQWRU\KDVEHHQGHFUHDVLQJODWHO\EXWWKH0DUNHW$FWLRQ,QGH[LV
IDOOLQJDOVR:LWKGD\VRQPDUNHWFOLPELQJWKHVHDUHUHODWLYHO\ 3HUFHQW)OLSSULFHLQFUHDVHG
QHJDWLYHLPSOLFDWLRQVIRUWKHPDUNHW 0HGLDQ+RXVH6L]HVTIW
0HGLDQ/RW6L]H /HVVWKDQ
0HGLDQ1XPEHURI%HGURRPV
0HGLDQ1XPEHURI%DWKURRPV
3ULFH
0DUNHW$FWLRQ,QGH[ 7KHPDUNHWVHHPVWRKDYHSDXVHGDURXQGWKLVSODWHDX7KH
0DUNHW$FWLRQ,QGH[LVDJRRGOHDGLQJLQGLFDWRUIRUWKHGXUDELOLW\
RIWKLVWUHQG
3ULFH7UHQGV
7KH0DUNHW$FWLRQ,QGH[DQVZHUVWKHTXHVWLRQ+RZ
VWKH
0DUNHW"E\PHDVXULQJWKHFXUUHQWUDWHRIVDOHYHUVXVWKH
DPRXQWRIWKHLQYHQWRU\,QGH[DERYHLPSOLHV6HOOHU
V
0DUNHWFRQGLWLRQV%HORZFRQGLWLRQVIDYRUWKHEX\HU
4XDUWLOHV
'D\5ROOLQJ$YHUDJH 'D\5ROOLQJ$YHUDJH
&KDUDFWHULVWLFVSHU4XDUWLOH ,QYHVWLJDWHWKHPDUNHWLQTXDUWLOHV
ZKHUHHDFKTXDUWLOHLVRIKRPHV
RUGHUHGE\SULFH
4XDUWLOH 0HGLDQ3ULFH 6T)W /RW6L]H %HGV %DWKV $JH ,QYHQWRU\ 1HZ $EVRUEHG '20
7RS)LUVW VTIW 0RVWH[SHQVLYHRISURSHUWLHV
8SSHU6HFRQG VTIW 8SSHUPLGGOHRISURSHUWLHV
/HVVWKDQ
/RZHU7KLUG VTIW /RZHUPLGGOHRISURSHUWLHV
/HVVWKDQ
%RWWRP)RXUWK VTIW /HDVWH[SHQVLYHRISURSHUWLHV
3RZHUHGE\$OWRV5HVHDUFK//&_ZZZDOWRVUHVHDUFKFRP_&RS\ULJKW$OWRV5HVHDUFK//&
<RXU/RFDO0DUNHW
V
0$5.(783'$7(
5$1&+26$17$
0$5*$5,7$&$
&XUUHQW5HDO(VWDWH0DUNHW&RQGLWLRQVIRU6LQJOH)DPLO\+RPHV
7UHQGVLQ3ULFLQJ
&XUUHQW/HYHOVRI6XSSO\DQG'HPDQG
9DOXH0HWULFV
5HSRUWIRUWKHZHHNRI
6HSWHPEHU
3UHVHQWHGE\<RXU/RFDO0DUNHW5HSRUWV
3RZHUHGE\$OWRV5HVHDUFK//&_ZZZDOWRVUHVHDUFKFRP_&RS\ULJKW$OWRV5HVHDUFK//&
&LW\2YHUYLHZ 6LQJOH)DPLO\+RPHVLQ
5$1&+26$17$
0$5*$5,7$&$
0RVW([SHQVLYH/LVWLQJ
,QYHQWRU\KDVEHHQGHFUHDVLQJODWHO\ /HDVW([SHQVLYH/LVWLQJ
EXWWKH0DUNHW$FWLRQ,QGH[LVIDOOLQJ $YHUDJH$JHRI/LVWLQJ
DOVR:LWKGD\VRQPDUNHWFOLPELQJ 3HUFHQWRI3URSHUWLHVZLWK3ULFH'HFUHDVH
WKHVHDUHUHODWLYHO\QHJDWLYH 3HUFHQW5HOLVWHGUHVHW'20
LPSOLFDWLRQVIRUWKHPDUNHW 3HUFHQW)OLSSULFHLQFUHDVHG
0HGLDQ+RXVH6L]HVTIW
0HGLDQ/RW6L]H /HVVWKDQVTIW
0HGLDQ1XPEHURI%HGURRPV
6XSSO\DQG'HPDQG
0HGLDQ1XPEHURI%DWKURRPV
$OWRV5HVHDUFK9DOXH6WDWLVWLFV
:KLOHWKH0DUNHW$FWLRQ,QGH[VKRZV 0DUNHW$FWLRQ,QGH[ 6WURQJ6HOOHU
V
VRPHVWUHQJWKHQLQJLQWKHODVWIHZ 7KH0DUNHW$FWLRQ,QGH[DQVZHUVWKHTXHVWLRQ+RZ
VWKH0DUNHW"E\PHDVXULQJ
WKHFXUUHQWUDWHRIVDOHYHUVXVWKHDPRXQWRIWKHLQYHQWRU\,QGH[DERYH
ZHHNVSULFHVKDYHVHWWOHGLQDELWRI LPSOLHVDVHOOHU
VDGYDQWDJH%HORZFRQGLWLRQVJLYHWKHDGYDQWDJHWRWKH
DSODWHDX:HFXUUHQWO\LQD6HOOHU
V EX\HU
PDUNHWVRSULFHVZLOOOLNHO\UHVXPH
WKHLUFOLPEVKRXOGWKLVWUHQGSHUVLVW 7UHQG.H\ 6WURQJXSZDUGWUHQG nn 6WURQJGRZQZDUGWUHQG
r 1RFKDQJH 6OLJKWXSZDUGWUHQG n 6OLJKWGRZQZDUGWUHQG
&KDUDFWHULVWLFVSHU4XDUWLOH
4XDUWLOH 0HGLDQ3ULFH 6T)W /RW6L]H %HGV %DWKV $JH ,QYHQWRU\ 1HZ $EVRUEHG '20
7RS)LUVW VTIW 0RVWH[SHQVLYHRISURSHUWLHV
8SSHU6HFRQG VTIW 8SSHUPLGGOHRISURSHUWLHV
/HVVWKDQ
/RZHU7KLUG VTIW /RZHUPLGGOHRISURSHUWLHV
/HVVWKDQ
%RWWRP)RXUWK VTIW /HDVWH[SHQVLYHRISURSHUWLHV
3DJHRI 0RQGD\6HSWHPEHU
6LQJOH)DPLO\+RPHVLQ
&LW\2YHUYLHZ
5$1&+26$17$
0$5*$5,7$&$
0HGLDQ3ULFH
7KHPDUNHWVHHPVWRKDYHSDXVHGDURXQGWKLVSODWHDX7KH0DUNHW$FWLRQ,QGH[LVDJRRGOHDGLQJLQGLFDWRUIRUWKHGXUDELOLW\RI
WKLVWUHQG
GD\$YHUDJH GD\$YHUDJH
4XDUWLOH3ULFHV
3ULFHVKDYHVHWWOHGDWDSULFHSODWHDXDFURVVWKHERDUG3ULFHVLQDOOIRXUTXDUWLOHVDUHEDVLFDOO\PL[HG/RRNIRUDSHUVLVWHQWVKLIW
XSRUGRZQLQWKH0DUNHW$FWLRQ,QGH[EHIRUHSULFHVPRYHIURPWKHVHFXUUHQWOHYHOV
3DJHRI 0RQGD\6HSWHPEHU
6LQJOH)DPLO\+RPHVLQ
&LW\2YHUYLHZ
5$1&+26$17$
0$5*$5,7$&$
3ULFHSHU6TXDUH)RRW
7KHPDUNHWSODWHDXLVVHHQDFURVVWKHSULFHDQGYDOXH7KHSULFHSHUVTXDUHIRRWDQGPHGLDQOLVWSULFHKDYHERWKEHHQ
UHDVRQDEO\VWDJQDQW:DWFKWKH0DUNHW$FWLRQ,QGH[IRUSHUVLVWHQWFKDQJHVDVDOHDGLQJLQGLFDWRUEHIRUHWKHPDUNHWPRYHVIURP
WKHVHOHYHOV
GD\$YHUDJH GD\$YHUDJH
,QYHQWRU\RI3URSHUWLHV/LVWHGIRU6DOH
,QYHQWRU\KDVEHHQIDOOLQJLQUHFHQWZHHNV1RWHWKDWGHFOLQLQJLQYHQWRU\DORQHGRHVQRWVLJQDODVWUHQJWKHQLQJPDUNHW/RRNWR
WKH0DUNHW$FWLRQ,QGH[DQG'D\VRQ0DUNHWWUHQGVWRJDXJHZKHWKHUEX\HULQWHUHVWLVFKDQJLQJZLWKWKHDYDLODEOHVXSSO\
GD\$YHUDJH GD\$YHUDJH
3DJHRI 0RQGD\6HSWHPEHU
6LQJOH)DPLO\+RPHVLQ
&LW\2YHUYLHZ
5$1&+26$17$
0$5*$5,7$&$
0DUNHW$FWLRQ,QGH[
7KH5$1&+26$17$0$5*$5,7$PDUNHWLVFXUUHQWO\TXLWHVWURQJO\LQWKH6HOOHU
V$GYDQWDJH]RQHJUHDWHUWKDQ7KHGD\
0DUNHW$FWLRQ,QGH[VWDQGVDWLQGLFDWLQJYHU\OLWWOHVXSSO\UHODWLYHWRWKHGHPDQG
GD\$YHUDJH %X\HUV6HOOHUV&XWRII
0DUNHW$FWLRQ,QGH[SHU4XDUWLOH
1RWVXUSULVLQJO\DOOVHJPHQWVLQWKHPDUNHWDUHVKRZLQJKLJKOHYHOVRIGHPDQG:DWFKWKHTXDUWLOHVIRUFKDQJHVEHIRUHWKH
ZKROHPDUNHWFKDQJHV2IWHQRQHHQGRIWKHPDUNHWHJWKHKLJKHQGZLOOZHDNHQEHIRUHWKHUHVWRIWKHPDUNHWDQGVLJQDOD
VORZGRZQIRUWKHZKROHJURXS
%X\HUV6HOOHUV&XWRII
5HVLGHQWLDOKRXVHSULFHVDUHDIXQFWLRQRIVXSSO\DQGGHPDQGDQGPDUNHWFRQGLWLRQVFDQEHFKDUDFWHUL]HG
E\DQDO\]LQJWKRVHIDFWRUV:DWFKWKLVLQGH[IRUVXVWDLQHGFKDQJHVLIWKHLQGH[IDOOVLQWRWKH%X\HUV
$GYDQWDJH]RQHEHORZIRUDORQJSHULRGSULFHVDUHOLNHO\LQIRUDGRZQZDUGFRUUHFWLRQ
3DJHRI 0RQGD\6HSWHPEHU
6LQJOH)DPLO\+RPHVLQ
&LW\2YHUYLHZ
5$1&+26$17$
0$5*$5,7$&$
'D\VRQ0DUNHW
7KHSURSHUWLHVKDYHEHHQRQWKHPDUNHWIRUDQDYHUDJHRIGD\V+DOIRIWKHOLVWLQJVKDYHFRPHQHZO\RQWKHPDUNHWLQWKH
SDVWRUVRGD\V
GD\$YHUDJH GD\$YHUDJH
'D\VRQ0DUNHWSHU4XDUWLOH
,WLVQRWXQFRPPRQIRUWKHKLJKHUSULFHGKRPHVLQDQDUHDWRWDNHORQJHUWRVHOOWKDQWKRVHLQWKHORZHUTXDUWLOHV
3DJHRI 0RQGD\6HSWHPEHU