Take a look at the most iconic homes in America

America boasts some of the most elaborate, and beautiful homes in the world, set in the backdrop of some of the most amazing views from California’s coastline, to the moutains of Colorado. Take a look at 19 of America’s most iconic homes from North to South, East to West.

America’s Most Iconic Homes

Warren Buffett, the richest man in the world says Buy Property Now

Warren Buffett appeared live on CNBC’s Squawk Box this week. During the interview, he was asked about the current real estate market and whether he felt now was the time to buy. His response was rather emphatic and has been used as a headline in hundreds of articles since the interview:

If I had a way of buying a couple hundred thousand single-family homes I would load up on them.”
However, throughout the interview, he addressed the market from a few angles. Here is what he said:
Why invest in real estate now?
“It’s a way, in effect, to short the dollar because you can take a 30-year mortgage and if it turns out your interest rates too high, next week you refinance lower. And if it turns out it’s too low, the other guy’s stuck with it for 30 years. So it’s a very attractive asset class now.”
Is buying your own home better than investing in stocks right now?
“If I knew where I was going to want to live the next five or 10 years I would buy a home and I’d finance it with a 30-year mortgage… It’s a terrific deal.”
Should we buy multiple houses?
“If I was an investor that was a handy type and I could buy a couple of them at distressed prices and find renters, I think it’s a leveraged way of owning a very cheap asset now and I think that’s probably as an attractive an investment as you can make now.”

Over the last couple of months, there have been more and more financial analysts coming to the same conclusion: It’s time to buy real estate.

THE TOP 10 PLACES FOR FLIPPING PROPERTY 2012

During the recession successful House flipping has took hits, but it is now returning — with a vengeance. Cable TV shows glorify expert flippers and infomercials flog seminars for novice investors eager to dive into this risky market.
As many housing markets stage a recovery, there is a deep inventory of foreclosed or bank-owned properties that investors can tap at below-market prices.

House flippers have grossed an impressive $29,342 on average for each property in the first half of this year, according to RealtyTrac, a foreclosure industry data supplier. From purchase to sale, the average flipped home is turned in 106 days.
Whilst small investors would have better opportunities in a small town and still show impressive gross profits, large housing markets, such as New York City, Washington, D.C., and San Jose, Calif., boast the most profitable average flipped home sales.
That’s why home buyers who dabble in flipping homes may vie against Wall Street-financed teams that turn over hundreds or even thousands of distressed properties in short periods.
Wall Street-backed home flippers enjoy the advantage of scale and cash purchases, says Leinberger. That is particularly true in large housing markets, such as Las Vegas or Phoenix, that have a bounty of bank-owned residences. But persevering smaller players can succeed.
Nearly two-thirds of the flipped homes are sold to first-time home buyers who seek a modest, 1,500 square-foot starter home — three bedrooms and two baths in a residential neighbourhood, for example. When it comes to house flipping, of course, location matters greatly. Once predominantly practiced in West Coast metro areas, such as Las Vegas, Phoenix and Los Angeles, house-flipping action is not restricted to those areas.
Here are 10 best places to flip a house:
10. Seattle-Tacoma-Bellevue, Wash.
–Avg. gross profit: $58,930
–Homes flipped through mid-2012: 1,446
–Avg. home price: $306,878 (30th highest)
–Avg. days to flip: 113
Rising single-family home prices ought to stimulate the greater Seattle housing market, but real estate agents and buyers complain about inventory constraints. Even foreclosed homes, while still plentiful, are starting to be cleared off banks’ ledgers.
RealtyTrac reports that in the first half of 2012, there were 7,530 foreclosure filings, down 49% from the same period last year. For now, though, home prices are rising slowly. Through the first half of 2012,the average home in Seattle sold for $306,878, an increase of about 1%, or roughly $3,000 from the second half of 2011.
9. San Jose-Sunnyvale-Santa Clara, Calif.
–Avg. gross profit: $61,758
–Homes flipped through mid-2012: 1,102
–Avg. home price: $615,071 (2nd highest)
–Avg. days to flip: 105
If it were not for bank-owned properties coming onto the market, prices — already among the highest in the nation— probably would be even higher, due to a lack of single-family home inventory. According to Trulia, in San Jose, there are 1,225 resale and new homes on the market, which pales in comparison to 3,661 homes in the various stages of the foreclosure process.
Through June 2012, the average sale price for a foreclosed property in San Jose was $393,156. While expensive, this was still a 42.4% discount from the average price of $682,021 for a non-foreclosed home in the area.
8. Richmond, Va.
–Avg. gross profit: $65,092
–Homes flipped through mid-2012: 385
–Avg. home price: $196,319 (116th highest)
–Avg. days to flip: 109
In Richmond, a well-known hub of current or former defense industry workers, the housing recovery has been slow to take hold. The number of housing sales has dropped nearly 25% since the same time last year, according to Trulia.
Richmond’s average sales price has dropped by $7,936, compared to last year. The number of bank-owned foreclosed properties has stayed fairly constant on a year-over-year basis.
7. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
–Avg. gross profit: $69,212
–Homes flipped through mid-2012: 819
–Avg. home price: $213,156 (92nd highest)
–Avg. days to flip: 110
It is small wonder that with high resale prices, coupled by an ample supply of bank-owned properties, the home flipping business is picking up steam in the greater Philadelphia market. There were 15,256 foreclosure filings in Philadelphia during the first half of 2012, up almost 30% from the second half of 2011. Sales of foreclosed properties followed, rising almost 25% from the second half of 2011.
6. Raleigh, N.C.
–Avg. gross profit: $69,253
–Homes flipped through mid-2012: 455
–Avg. home price: $223,359 (78th highest)
–Avg. days to flip: 114
The greater Raleigh area has seen a 63% increase in the number of flipped home sales for the first half of 2012,compared to the first half of 2011, while the available inventory of foreclosed homes has remained constant.
And yet, in Raleigh, which is North Carolina’s second-largest housing market after Charlotte, median home prices declined by only 8.2% from pre-recession peak value. The U.S. median home price fell by more than 33% during the recession.
5. Omaha-Council Bluffs, Neb.-Iowa
–Avg. gross profit: $71,384
–Homes flipped through mid-2012: 253
–Avg. home price: $196,325 (115th highest)
–Avg. days to flip: 117
In the first half of 2012, house flipping more than doubled in volume in the greater Omaha region, compared to the same period in 2011. In that time, foreclosed housing inventory rose by nearly one-third. These flipped homes may be slowing a broader recovery in the local housing market because home prices have decreased by 20% on a year-over-year basis, according to Trulia data.
4. Washington-Arlington-Alexandria, D.C., Va., Md., W. Va.
–Avg. gross profit: $72,297
–Homes flipped through mid-2012: 1,925
–Avg. home price: $370,919 (20th highest)
–Avg. days to flip: 110
Conditions are right for a boom year for house flippers in the Washington, D.C., area. First, there’s a decline in the available stock of foreclosed properties in the greater Washington, D.C., housing market, according to RealtyTrac data, which has strained the inventory of single-family homes for sale. Demand is rising for homes in the area, and sales volume is up by more than 22% compared to last year, according to Trulia.
3. Oxnard-Thousand Oaks-Ventura, Calif.
–Avg. gross profit: $78,106
–Homes flipped through mid-2012: 535
–Avg. home price: $416,790 (14th highest)
–Avg. days to flip: 112
In an area where one in every 62 homes is in foreclosure, news of a decrease in the supply of foreclosure filings must seem like welcome news to the local housing market. Still, the greater Ventura area is highly appealing to house flippers because the heavily discounted properties are sold quickly for significant gross profits, according to RealtyTrac data.
The housing market of Ventura’s metropolitan region, the Oxnard-Thousand Oaks-Ventura metro area, was one of the biggest decliners in the country, falling by 43.6% from its peak in the first quarter of 2006. The median home price in the area fell by 43.6%.
2. Lake Havasu City-Kingman, Ariz.
–Avg. gross profit: $87,513
–Homes flipped through mid-2012: 219
–Avg. home price: $114,578 (216th lowest)
–Avg. days to flip: 99
Lake Havasu may not be a nationally renowned house-flipping mecca, but gross profits reported this year may soon burnish its reputation. The party will not last as long as its neighboring area of Phoenix, which has a substantially larger inventory of foreclosed properties.
Foreclosure filing decreased by 37% in the first half of 2012,compared to the same period in 2011. Foreclosed property buyers in Lake Havasu paid an average price of $108,078 in the first six months of 2012 — when the average foreclosed property was flipped for a profit of $87,513.
1. New York-Northern New Jersey-Long Island, N.Y., N.J., Pa.
–Avg. gross profit: $118,376
–Homes flipped through mid-2012: 949
–Avg. home price: $441,910 (13th highest)
–Avg. days to flip: 118
The New York area is the largest housing market in the US, with more than 7.5 million housing units and nearly 18.9 million residents. And true to its big league reputation, there is no more profitable place for house flippers to turn around distressed properties, according to RealtyTrac data.
But the available supply of foreclosed homes is slowly waning, off 14% in the first half of 2012 compared to the prior year. This has limited foreclosure sales, which fell 23.7% year-over-year. In the first six months of this year, the average foreclosed home sold at a discount of 39.4% to the average non-foreclosed home, down from 45.1% the year before.

29.1 % rise in New Home Building

The U.S. housing industry — crucial to any jobs recovery — showed more signs of strength, according to two reports issued last week. The Census Bureau said housing starts and permits rose substantially in August.

Separately, sales of previously occupied homes climbed 7.8% from a year ago, according to the National Association of Realtors. Builders started on new homes at an annual rate of 750,000, up 29.1% compared with a year earlier. They applied to build another 803,000 new homes on an annual basis, a 24.5% jump compared with August 2011. Home builders have become increasingly bullish — a confidence index from the National Association of Home Builders reached its highest level since June 2006. If sales continue to gain steam, that could help the nation break out of its economic doldrums. Home building provides many good-paying jobs, about three hires for every home built in a year, according to the National Association of Home Builders. A rebound would create other jobs too: factory jobs at carpet and furniture makers, for example. Truckers get work transporting all those goods. Most housing markets around the nation have reached a good balance between sellers and buyers, according to the Realtors’ chief economist, Lawrence Yun. There’s a 6.1 month supply of homes on the market at the current pace of sales. That’s down from 6.4 months in July and 8.2 months a year earlier. The lower supply provides some support for prices. Prices are on the upswing as well. They have benefited from a change in the mix of homes sold with distressed properties –repossessed homes and short sales — accounting for only 22% of total sales, down from 31% last August.
The rental market appears to be doing more than just sustaining its health.It seesm that even the increase in rents aren’t keeping tenants away. The rise in rental prices, coupled with a decrease in vacancy rates and the ability to attract new residents with less effort are all positive signs for the market . Nearly 73 percent of managers said finding residents is not difficult compared to 67 percent last year..

Moving towards a Virtuous Cycle ?

For years we have been stuck in a vicious cycle. Real estate collapsed. This caused the job market to collapse. Lenders tightened their standards because lending on real estate was a risk and investors did not want to purchase home loans on the secondary markets. Job losses led to further housing declines. Vicious cycles are tough to break and this is exactly why our recovery has been so slow. It has been a step-by-step recovery.

In a virtuous cycle, real estate is strong. Builders build more homes. That creates more jobs and thus more demand for real estate. Because home values are strong, lenders want to finance real estate and they adopt aggressive standards.
Of course, the next question is–when can we move into a virtuous cycle?

We have seen some evidence in the past few months that the tide is turning. For one, real estate values are up. This means that real estate and loans secured by real estate are becoming a better investment. Theoretically, this will make lenders more confident in loosening their own standards. Along with this, defaults on newly originated home loans are down significantly. Though the US is still dealing with a shadow inventory of homes that need to be sold, these are mostly older defaults and this inventory is shrinking because newer loans are not being added as quickly.
Finally, builders are again building more homes because of a shortage of inventory. Most prognosticators feel that the slow recovery will continue step-by-step. However, we feel that there will be a tipping point in which all the stars align behind recovery and thus the process will speed up. It will be interesting to see whether the push by central banks all over the world to purchase more securities and thus keep rates down will give us the final push to reach that tipping point. This push will have to overcome the uncertainty which hovers over the elections and budget negotiations in our Country. It should be a very interesting fourth quarter.