The vortex is coming! The vortex is coming! Ice, wind, snow and possibly rain are forecast for Sunday. Also blowing into the Big Apple? The Big Game -- Super Bowl 48.

Your Super Bowl XLVIII Cheat Sheet - Fun Facts and More

The vortex is coming! The vortex is coming! Ice, wind, snow and possibly rain are forecast for Sunday. Also blowing into the Big Apple? The Big Game -- Super Bowl 48.
The Seattle Seahawks and Denver Broncos will mix it up at MetLife Stadium with a little halftime entertainment thrown in with Bruno Mars and the Red Hot Chili Peppers. It is the first time the contest will be played in a cold weather city -- spurring an entire website devoted to watching the weather every second until the first snap.
If you are one of the millions that will in tune in for the commercials, but not the football itself, below is a cheat sheet of fun facts you can use to score a touchdown in conversations with fellow viewers during the big game.

Five Things to Watch on Sunday

1. The Cheerleaders
The Seahawks have the Sea Girls; the Broncos have their own pep squad. Fun fact: The only NFL teams without cheerleaders are the Bears, Browns, Lions, Packers, Steelers and the host team -- the N.Y. Giants. It's interesting to note that Joe Buck, the announcer for the game on FOX, is engaged to a former Broncos cheerleader.

The most important question is what will the women be wearing on the sidelines on Sunday? Cute parkas? Designer snow boots? Co-branded Juicy Couture/NFL tracksuits?

2. The Coaches: Pete Carroll vs. John Fox
A long, long time ago, before Russell Wilson was even born, Seahawks Coach Carroll ('78) and Broncos coach Fox ('84) both were defensive coaches for the powerhouse Iowa State Cyclones football team. Proving that it doesn't matter where you start, it's where you end up.

3. The QBs: Peyton Manning vs. Russell Wilson
Which signal caller has more endorsements?
Pitchman Peyton. He's been in the league longer (16 years vs. two) and has won the Most Valuable Player award a record four times. Peyton can be seen in commercials for everything from Papa John's Pizza (he owns nearly two dozen shops in Denver) to Buick, DirecTV, Oreos, MasterCard and Gatorade. Last year, he made $12 million alone from endorsements. Plus, we all know who the funnier Manning on SNL was...

Russell Wilson, picked 75th in the 2012 NFL Draft (considerably late for a top QB), has signed deals with American Family Insurance, Alaska Airlines, Levi's and Nike. He's quickly moving up the ranks, but has far to go to reach Peyton money.

4. The Top Defense Vs. the Top Offense
If you don't follow football, watching the top-ranked offense in the league (Denver) playing against the toughest defense in the NFL (Seahawks), most likely won't capture your interest.
Worth watching is what outspoken Seattle defensive player Richard Sherman has to say before, during and after the game to any of the Denver wide receivers. All TV networks and social media channels will be tracking his every move closely. Perhaps there will even be an app created by game day -- "Shermania." You can take bets on when he will say something inappropriate and win prizes!

5. Eligible Bachelors
Good-looking Denver wide receiver Eric Decker appears to be taken, per his reality show on E! But there are plenty of other single men playing in uniforms this weekend that are worth keeping an eye on. Sensitive Broncos running back Knowshon Moreno is returning to home to New Jersey for his first Super Bowl appearance. Seahawks tight end Luke Willson, a 6'5" rookie from Canada, will heat up the field on Sunday.

Other Fast Fun Facts:
1. Denver has played in six Super Bowls; Seattle, one
2. Russell Wilson is name-checked in Eminem's latest hit song Monster: "It's payback, Russell Wilson falling way back in the draft. Turn nothing into something, still can make that, straw into gold chump." Which begs the question: Is Marshall Mathers a Seahawks fan?
3. At age 14, Wilson had a dream where Jesus came to him; today he is a devout Christian
4. Every year, EA Sports runs their Madden football video game to simulate the Super Bowl teams playing -- this year, the outcome had Denver winning in overtime. This simulation has predicted the last eight out of 10 winners
5. Each team has its own mascot. Blitz for the Seahawks and Miles for the Broncos (after their stadium Mile High).

Bonus Fact:
The prize awarded to the winner of the Super Bowl, the Vince Lombardi Trophy, is made by Tiffany's. It has its own Brinks truck and armed guard to take it to Met Life Stadium in New Jersey.
Whether you watch the game for the actual football, the halftime performances or just the commercials, there promises to be something for everyone to discuss at the water cooler on Monday. And for those who will have pigskin withdrawal after the game ends, remember training camp starts in July -- only five short months away.

Courtesy of Kelli Gail - The Huff Post

What city would you vote for as the Best Place to Get in Shape?

Best places to get in shape

By Kristen Bellstrom  @Money 


At left: A Fairfield, Conn. three-bedroom, 2½-bath, 1,458 sq. ft. home for $430,000. At right: A San Francisco three-bedroom, 2-bath, 1,600 sq. ft. home for $849,000.

It's not easy to step up your diet and exercise routine -- and having a Cinnabon on every corner sure doesn't help.

To find the best metros for getting fit, MONEY and Trulia crunched some health-centric data, looking for places with easy access to nutritious food, dietary advice, and plenty of exercise options.

We compare the top two.

East Coast vs. West Coast

Two of the nation's healthiest metro areas face off.

 

Fairfield County, Conn.	San Francisco
Diet and weight loss centers per 10,000 households	0.36	0.28
For-sale homes affordable to the middle class	36%	14%
Gyms and fitness centers per 10,000 households	5.3	3.8
Increase in asking price (2012 to 2013)	9.8%	15.2%
Median home price	$470,000	$829,000
Median square feet for affordable home	1,317	1,000
Percent of population who walk or bike to work	3%	9.2%
Ratio of "slow food" to fast-food restaurants	1.41	1.6

NOTES: Fitness-related data from 2010 and 2011. Pricing information as of November. Square footage and affordability data from October. SOURCE: Trulia

First Published: January 20, 2014: 9:51 AM ET

Courtesy of CNN Money 

 

Here's a realistic look at the market for 2014

Real estate: Look for value in 2014

By Carla Fried  @Money December 9, 2013:

 

The good news for housing is that price gains next year are expected to be only about half as strong as in 2013, when sellers stayed on the sidelines. Yes, that's good news. "For a sustainable recovery you want to see more balance between buyers and sellers," says David Stiff, chief economist at CoreLogic Case-Shiller, which is forecasting a 6.8% rise in the median home value for 2014.

Inventory is already improving. Nationwide, the number of homes for sale in September rose 1.8% vs. a year earlier, according to the National Association of Realtors. That's the first increase since late 2011. In Los Angeles, Atlanta, and Orlando, inventory was 10% or higher than a year earlier.

"It will still be a sellers' market in 2014, given how far we have before inventory is back to normal," says Jed Kolko, chief economist at Trulia, noting the supply of homes in September was still about 15% below historical norms. "But it will not be as extreme as 2013," he says.

Buyers will also enjoy an advantage next year as real estate investors are expected to be less of a factor. Why? In an improving market, there are fewer distressed homes, which they covet. According to the Campbell/Inside Mortgage Finance HousingPulse Tracking survey, the investor share of residential home purchases fell from 23% earlier this year to 17% in September. In a more balanced market like this, here's what you can do to get an edge:

BUYERS

Waiting for more inventory can make sense if you have a dream home in mind. But in 2014 there will be a price for delay -- 30-year fixed-rate mortgages are forecast to climb from today's 4.5% to more than 5%.

Work with a fast closer. Qualifying for loans is easier now, but speed is another issue. Franklin, Tenn., agent Patty Latham says she will not work with buyers using a particular lender that has missed several deadlines. For speed, Virginia agent Rob Wittman suggests sticking with local lenders with ties to nearby appraisers.

What's fast? John Wheaton at Guaranteed Rate says, "Where 45 days was the norm, you can get an express closing in 20 days and even faster."

Lead with a credible offer. At a time of multiple bids, low-balling isn't the way to go. "The reality is, sellers don't have to come back to you with a counter if they've got better bids," Wittman says. Of course, you don't want to overpay either. Even in markets that are starting to experience bidding wars, such as L.A. and Boston, final sales prices are still typically about 1% below asking. Use that and your agent's local knowledge and go in with a respectable bid.

OWNERS

If you like your home and are not in a rush to sell, you have great flexibility. For instance, your rising home equity will make it easier to borrow against the property. That can help pay for deferred maintenance or home renovations you've been eyeing for years -- which will only add value when you eventually put your home on the market.

Remodel within reason. Home-improvement spending is expected to grow by double digits through mid-2014, according to Harvard's Joint Center for Housing Studies. Atop the wish list: bathroom and kitchen jobs.

Keep resale in mind. While the focus was on value at the market lows, today "homes with all the fixings are the ones attracting multiple buyers," says McLean, Va., real estate broker Jon Wolford. So, yes, you can splurge a bit, but don't go crazy. Remodeling Magazine's cost-vs.-value survey found that moderate kitchen remodels ($57,500) recouped 69% of their cost, close to what minor jobs paid back. Over-the-top projects ($111,000), though, recouped less than 60%.

Take advantage of low home-equity rates. While 30-year mortgages rose nearly a point this year, rates on home-equity lines of credit have fallen a bit to 5.1%. That's because HELOCs are tied to short-term rates that the Fed isn't likely to hike until 2015.

If you'll need to repay your loan over many years, though, go with a fixed-rate home-equity loan. Today's 6.25% average is about 0.25 points lower than a year ago, as lenders are now more interested in doing deals, says Keith Gumbinger at HSH.com. Credit unions can be the best place to shop for home-equity loans. The average credit union rate is 5.75%.

SELLERS

List too early and you'll leave gains on the table. Wait too long and rising borrowing costs might put an end to bidding wars. You can't time the market perfectly, but you can keep an eye on inventory trends. Ask your agent to give you a monthly report on the number of listings compared with closings. Housing trends play out gradually.

Once you see a big uptick in listings relative to closings, you'll know price gains are getting ready to slow -- and that it's time to act.

Price it right the first time. Don't waste your time by listing too high only to have to wait and lower the price. "Buyers are smart these days -- they know where the market is, and now that rates are higher, they aren't going to bite on a list price above recent comparables," says Sara Fischer, an agent with Redfin based in San Diego. The real estate site Zillow reports that about one-third of listed homes in August had a price drop, up from 26% earlier this year.

Play tour guide for the appraiser. If your buyer's lender gets an appraisal that comes in lower than the agreed-upon price, you're in for plenty of headaches -- even in an improving market. You'll have to lower the price, the buyer will have to cough up a bigger down payment, or worst case, the deal might collapse, sending you back to square one.

Fischer recommends that sellers be present when appraisers come by. "They don't want to listen to the agent," she says. "But if you're the owner and can walk them through all the improvements, that can help the appraiser better understand what has gone into the home." She recommends handing the appraiser a spreadsheet of all upgrades, listing when they were done and the scope of each project.

 

Courtesy of CNN Money

What Will I Know?

As the grandparents of 2 preciouses boys, 4 & almost 3, and the parents of 2 grown sons, this blog touched our hearts as we are sure it will yours.  Have the Kleenex ready! So true and it goes so fast. Enjoy --Bill & Pat

One mother wonders about the man her son may become, and another wonders how her son has all of a sudden become a man. 
 
KRISTIN, MOTHER OF A 4-YEAR-OLD BOY:

Driving down the road in a tree-lined suburban neighborhood, I see two teenage boys driving golf carts. The one in front is wearing a red polo and plaid pants. He pushes a lock of his dark hair aside and then sticks his hand out to touch the leaves on the trees next to him. The boy behind him calls out to him and they laugh, without a care in the world.

I see them and a flash-forward image of my son at that age pops into my field of vision; I nearly stop the car to shake it off. A wave of wistfulness washes over me with the knowledge that my son will reach this age more quickly than I can imagine right now. For an instant, I want to freeze time.
In the next instant, I feel a sense of relief for the parents of these boys that they have grown up so strong and healthy and independent. They have the good fortune of watching them grow. They have done their job the best they knew how.

I wonder what I will know about my son when he is the age of these two boys driving golf carts on a quiet street. And I wonder what he will know about me.

Will he remember that his father or I would lie next to him in bed every night until he fell asleep?
Will he remember that he would wake every morning with a smile and an "I love you, Mama"?
Will he remember playing baseball with us in the front yard, complete with the bases and bat his father had lovingly picked out for him?

Will he remember falling off his new bike in the first five minutes that he tried it? Will he remember that I cajoled him back on the bike and helped him gain his confidence back until he could do it by himself?

The reality is that he might not. But I will.

And when he gets to be a teenager, I will know that I have done my best to instill the values we believe in and taught him right from wrong and exhibited the kindness we want him to embody as well. I will know that he has successfully grown from baby to toddler to preschooler to boy to young man.

I will be relieved that I have gotten him to this point in our journey together. It will be a downhill ride for him on his own, without the training wheels at that point. It will be up to him to decide which activities, which classes, which sports to choose. He will choose his friends and girlfriends and he will learn what it means to love and be loved. He will understand hurt more than I wish he would, even knowing that it is necessary for him to grow.

He will be taller than I am, most likely, and stronger. He will be smarter, I have no doubt.
We will celebrate, the three of us, that he has reached young-man status and that life is good. This is my wish, always.

He will know that I am soft-hearted but firm. He will know that I am silly and will break out in a dance or song at the drop of a hat. He will know that I will talk to everyone and anyone and will probably embarrass him, just as my mother did. He will know where he gets his love of music and sports and wide-open spaces.

He will know that his parents love him more than anything in the whole world.

We are just beginning; and yet, four years have flown by as fast as a shooting star. I love this stage so much; he is still sweet and likes to hug mom and tells me fantastic stories he has made up from bits and pieces he has picked up along the way. I'm trying not to blink; 18 will come sooner than I want to imagine.

In the meantime, I will know this: these fleeting moments are each a drop of gold.




ALEXANDRA, MOTHER OF AN 18-YEAR-OLD BOY:

Eighteen years wasn't long enough.

I watch you as you sit on the sofa tonight, beautiful, young and dark-haired, with the bright blue eyes I've been looking into for this, my 18th year as a mother. You're excitedly planning your applications for colleges. You ask me for my input. Should you stay in the Midwest? Would California be too far?
I tell you the answer that is the right answer: I want you to be wherever you want to be. I say that I wouldn't complain if you picked the university two hours away, and pretend to be joking.

The truth is, I love you so much that I want you to be free and unencumbered in your dreams; I want your hopes to take you where you imagine happiness to be. I am grateful that I can pull myself away from the mothering soul inside me that aches with the wish to keep you always in the days of when we'd play trains together, and you'd pull me by the hand over to your side of the table, "See, mama... see? Stay sitting over here by me..."

To hold you forever in those days would serve me, but never you. You have your life to live now, and I want it to be one of adventure, happiness and confidence. I don't want you to feel that you can't leave me because I will crumble without you. We both know without me saying that in those first days when you're gone, as I walk past your room that no longer holds you while you sleep, I'll wander among your things, and wish the boy back who once called this home.

It's so funny, I somehow always imagined myself being the mother of little boys forever. Never seeing an end to these days, I lived them as if they were limitless in their count. And much too fast, we've come to the end of the diamonds in this mine. With each month that passes in this last year of you being home with us, the time of your undeniable leaving looms large. But it can't take away the beauty of the full facet of the jewels from these days, the wonder of the creation you've become. In what hour did you grow into the handsome, kind, considerate man who shares this life with me? Wasn't this supposed to happen bit by bit, not all at once?

But it is all at once, and, tonight, I can only think how very fortunate I am that I still have you within arm's reach. And even though I know there is no way that I could have possibly done and given and been the mother that I dreamed for you, I know that somewhere in our history together, I grew worthy of your love and trust... I know. For what other explanation could there be, that you still allow this woman, so foolish in her desperate adoration of you, to come to you where you sit now on the sofa and take your hand, while you lean into her shoulder and say, "See, mama...? You can stay sitting over here by me..."


You can find Alexandra at Good Day, Regular People, as well as writing regular columns at Aiming Low, Mom Renewal Project, MilwaukeeMoms, Sprocket Ink, and TikiTikiblog. She was named a 2011 BlogHer Voice of the Year for humor. In 2012, she was chosen to be part of The Moth's National Live Story Tellers Tour, and presented alongside Molly Ringwald. Alexandra is also a co-producer/director for the Listen to Your Mother show in Milwaukee.
Kristin Shaw is a freelancer by day, writer by night, a full-time wife of an Austin native, and mother of a mini-Texan. She's proud to be a co-producer of the 2014 Listen to Your Mother show in Austin. You can find her on Twitter (@AustinKVS), her blog, Two Cannoli, or at The Huffington Post.

Helpful Maintenance Tips for your Home

January Home Maintenance To-Do List

By: Danny Lipford

To-Do #1: Change Water and Icemaker Filters

The disposable filters in your water filtration system and icemaker need to be changed at least twice a year, or as recommended by the manufacturer.

When filters become clogged, the flow of water slows and can allow mold to form inside the filter. Most water filters are easy to change, either by removing a screw-on cover or pressing a release tab. Be sure to take the old filter with you to the store, so that you can buy the correct replacement.

If you don’t have a water filter in your home, consider:

• Water Filtration Pitcher: With no installation required, filtration pitchers have you drinking filtered water in a flash by pouring water into the pitcher through a filter mounted in the lid.
• Faucet Mounted Water Filter: These units screw directly onto the end of your kitchen faucet, replacing the aerator with a valve that directs the water through the filter or out the faucet as desired.
• Countertop Mounted Water Filter: These larger filters are less likely to clog than faucet filters. They screw directly onto the faucet, with a tube connecting to the filtration unit on the counter.
• Under Sink Mounted Water Filter: These filters install under your sink and connect to a separate water dispenser installed next to the sink faucet. They require some plumbing and cutting a hole in your sink or countertop if one isn’t already available.
• Icemaker Filter: These may come built into your fridge or can be added to the water line supplying your icemaker.
• Whole House Water Filter: These units attach to your main water line and filter all the water entering the house. They generally only filter out rust and sediment.

To-Do #2: Clean Bathroom Tub and Sink Drains

Over time, hair and debris can build up in your bathroom drains, impeding the flow and causing water to back up into your tub or sink. Not only is this unpleasant, it lets dirty water to stand in your sink or tub, allowing mold and mildew to grow both in the basin and in the pipes.

To clean a tub or sink drain, you’ll first need to remove the drain assembly and any drain grates covering the drain opening. Clean these with an old toothbrush and paper towel.

Next, insert a plastic drain stick into the overflow drain, then again in the main drain. A drain stick is about two feet long and is barbed or bristled to remove hair and gunk inside the pipe. Work the stick up and down, then carefully draw out debris and wipe it off with a paper towel.

Once the drains are clear, pour a cup of bleach down the drain, and let it sit for 10-15 minutes to kill any mold and mildew in the pipes. Finally, flush the drain thoroughly with hot water, and reinstall the drain assembly and grate.

Now that your drains are flowing freely again, get out your sponge and cleaners to give your tub and sink a good scrub!

To-Do #3: Clean and Organize Closets

The New Year is a perfect time to organize your home, and why not start with your closets? Over the course of the year, closets get full of all sorts of stuff that may or may not belong there.

Since it’s too cold to do much outside, take advantage of a day stuck indoors to organize and clean your closets, and perhaps add some new shelving or other storage organizers while you’re at it. Follow these steps:

• Inspect Closet: Examine your closet and determine what’s working and what’s not. Is there enough hanging room? Are shoes overrunning their space? Do you have belongings in the floor that have no place to go?
• Clear Out Closet: Next, remove everything from the closet – yes, everything!
• Purge Unused Items: Sort clothing, shoes, and accessories, and set aside unneeded items to donate. A good rule of thumb is, if you haven’t used it in a year, it’s time to go.
• Clean Closet: Give the inside of the closet a good cleaning, and possibly a fresh paint job.
• Update Closet: Examine the closet to see if you can make better use of the space. You can dramatically increase storage space with shelving, hanger bars, baskets, and bins that are tailored to suit your needs. For more information about DIY closet solutions, check out our video on How To Install a Track Storage System In Your Closet.
• Fill Closet: Finally, put the remaining belongings back into your clean, neat closet.

To-Do #4: Compile or Update Home Inventory

Finally, spend one of those cold winter days compiling a home inventory or updating the one you already have.

While nobody likes to think about losses in your home due to theft, fire, or natural disaster, a little preparation can go a long way to making the process of dealing with your insurance company easier should a loss occur.

To prepare a home inventory you’ll need a computer spreadsheet or paper notebook, camera and/or camcorder, and a tape measure. Here’s how to go about it:

• Outside: Take a video of all sides of the outside of your home, including patios, landscaping, hardscaping, and sheds. Follow this up with photos from each angle. Take close-up photos of specific items, such as rockwork, outdoor kitchens, water features, and lighting to show detail. Record measurements, model and serial numbers, purchase price, and any other information that could help you determine the replacement value of the object.
• Rooms: Next, move through your house room by room with a camcorder to video the interior. Slowly pan the room, starting at the upper left area from where you’re standing and moving toward the right, then down and back to the left across the lower half of the room. Repeat the process by taking wide-angle still photos of the room from each corner.
• Individual Items: Now focus your camera on individual items of value. TVs, stereos, furnishings and rugs, equipment and tools, anything that would be important to replace in the event of loss. As you take photos, record on your spreadsheet each item’s name and image file number, along with as much information as possible. Record brands, model and serial numbers, measurements, and descriptive features.
• Document Ownership: Finally, you’ll need to compile information to prove your ownership of each item. Record purchase dates and sources on your spreadsheet, and attach receipts and any appraisal statements to the inventory. Or, you can scan relevant document and attach them digitally to your inventory spreadsheet.
• Secure File: If you compiled the inventory on paper, organize all documents neatly in a three-ring binder. If your inventory is in digital format, organize the digital files and copy them to flash drive, CD, or DVD. Make three copies of your inventory: one to keep at home, one to keep in your safety deposit box, and one to store in a remote location, such as with your insurance agent or a family member.
• 

Drone helps overseas buyers get a feel for mountain property's sweeping views

Terry Oakes of Fuller Sotheby’s International Realty says aerial photos captured by a drone are helping overseas buyers imagine how they’d build their dream home on an undeveloped 40-acre parcel on the market for $575,000 in Castle Rock, Colo.

Drone shots assembled into a two-minute virtual tour of Waverton Ranch provide a quick snapshot of the entire property that’s been seen by potential buyers in South America, Florida, Australia and Japan who are interested in the placement of landmarks such as rivers, hills and flat building sites, Oakes says.

 A growing number of real estate brokers and agents are experimenting with drones to shoot video and photos of listings, although their use remains a legal gray area.

 The Federal Aviation Administration permits hobbyists to fly drones away from airports at altitudes below 400 feet, but is still drafting regulations that would govern commercial use of the remote-controlled aircraft.

 The company that built the virtual tour of Waverton Ranch, Spotlight Home Tours, advises on its website that “helicopter and drone heli footage is an upgrade feature for all packages and not included in pricing shown.”

 Source: fullersothebysrealty.com. - See more at: http://www.inman.com/wire/drone-helps-overseas-buyers-get-a-feel-for-sweeping-mountain-property/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+inmannews+%28Inman+News+-+Headlines%29#sthash.ZUpHwpRH.dpuf

Top 10 U.S. cities for Chinese homebuyers

NEW YORK (CNNMoney)

As the Chinese economy continues to boom, Chinese are looking abroad to spend money on real estate.

By Les Christie  @CNNMoney December 4, 2013: 7:54 PM ET


Detroit came in at No. 4 on the list of top U.S. cities for Chinese homebuyers

Where are they buying?

New York and Los Angeles top the list of U.S. cities they are most interested in, according to Juwai.com, a website where Chinese buyers browse global real estate listings.

More surprisingly, Philadelphia and Detroit come in at No. 3 and No. 4.

The top 10 list is rounded out by Houston, Chicago, Las Vegas, Atlanta, San Diego and Memphis.

Chinese buyers purchased $8.2 billion worth of U.S. property in 2012, according to Juwai. It ranked cities by how many searches they attracted from Chinese house hunters.

Related: 5 most affordable housing markets

This is a welcome clientele for U.S. sellers. The median home price among Chinese buyers was $425,000 in 2012, compared with the overall median U.S. home price of $199,500.

And the transactions are often quick and clean: 70% of the Chinese buyers pay cash, according to the National Association of Realtors.

Buyers have different reasons for picking a city.

New York, Los Angeles, Chicago and San Diego have substantial Chinese communities.
Others seek homes near colleges their children can attend.

Related: Chinese homebuyers flood U.S. housing market

And the wealthiest of these Chinese buyers are looking for economically strong cities, using U.S. real estate to diversify their investments.

"They look at these as a safe haven for their money," said Pam Liebman, CEO of broker the Corcoran Group.

Wei Min Tan, a broker with Rutenberg Realty in Manhattan, said that most Chinese buy to rent out, or for sporadic use themselves.

"They often have kids in school somewhere nearby and they fly into New York, spend a few days and then go on to visit their kids," he said.

He added that most of these New York City sales are in the $1 million to $3 million category. "Rarely do they buy the trophy properties -- $15 million and up -- that make the news," said Tan.

Related: Cities with the most million-dollar homes

Cities like Detroit and Memphis are more appealing to Chinese looking for predictable, steady cash flow, according to Juwai. They're snapping up foreclosures and other heavily discounted properties, fixing them up and renting them to local residents. They hire local managers to take on the day-to-day maintenance and collect the rents.

In the case of Detroit, the buyers often don't even do repairs right away, according to Rachel Saltmarshall, president of the Detroit Association of Realtors. They're buying at tax sales and foreclosure auctions and holding the properties, sometimes keeping them vacant, hoping that the city's comeback is imminent.

Downtown Detroit is going through a renaissance, according to Kelly Sweeney a local real estate broker for Coldwell Banker Weir Manuel. "The Chinese are making bulk purchases of inexpensive properties, $25,000 or less, in the rings around downtown," he said. "They're banking on the downtown resurgence spiraling out into those rings."