While Meghan Markle and Prince Harry are preparing for their baby, they’re also waiting with bated breath for their home renovation to be complete. But apparently the project is delayed—and word on the street is, it’s their own fault! What did the royal duo do to cause the slowdown? How long is the delay? What will come first: move-in day or Baby Sussex? We dive into it on this week’s episode of “House Party.” We also discuss Melissa McCarthy, Kevin Costner, and other A-list celebrities who rent out their homes; Pantone’s 2019 Color of the Year and how to decorate with this polarizing shade; plus, the latest celebrity real estate winners and losers. Who scored and who struck out this week? Listen up and subscribe on Apple Podcasts, Google Play Music, Spotify, or wherever you get your podcasts. And, please, please, please: Throw us a five-star rating if you like what you hear. The more good ratings and reviews we have, the easier it’ll be for people to find us. Do you have your own crazy home-related story you’re dying to share? We’re all ears, eagerly waiting to discuss all your burning real estate questions. Reach us at [email protected], or tweet us @housepartypod on Twitter. ——-- Stories we discussed on ‘House Party’ this week:Craving Coral: How to Use 2019’s Color of the Year in Your Home Melissa McCarthy Could Be Your Landlady for $10K a Month What’s Wrong With Being Confident? Demi Lovato to Rent Out Her Home for $39.5K a Month Rent Kevin Costner’s Dreamy Aspen Compound for $30K a Night How Prince Harry and Meghan Markle Just Torpedoed Their Reno Plans Justin Bieber Just Bought a Home, and It’s So Not What You’d Expect 5 Things to Know About DJ Calvin Harris’ L.A. Home for Sale The post ‘House Party’ Podcast: Meghan Markle and Prince Harry’s Royal Renovation Goes Off the Rails; How to Decorate With the Color of the Year appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/podcast/episode-22-house-party/
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The Miami Beach mansion of Oribe Canales, hairstylist to the stars, is now on the market for $4.75 million. Canales and his husband, Zaki Amin, purchased the five-bedroom estate last year for $4.35 million. Now, the Mediterranean-style abode has come back on the market after Oribe’s death at the age of 62 in December. Known simply as Oribe in his professional life, the Cuban-born stylist moved with his family to the United States as a child. He came to New York City and started styling supermodels with the acclaimed fashion photographer Steven Meisel. Later, pop star Jennifer Lopez called on Oribe to create her look for photo shoots, album covers, and music videos. The two worked together for years. Posting on Instagram following his death, Lopez wrote in part, “He made me feel special and beautiful for so long. … I will miss you. I love you Oribe.” Naturally, his former retreat is styled to perfection. The villa was recently renovated, and its 5,210-square-foot interior maintains many original elements. It was built in 1931, and its authentic details include a beamed cathedral ceilings, a stone fireplace, and a vaulted living room. The curved staircase features decorative handrails and a chandelier. In addition, the home offers a family room, a formal dining room, and an eat-in kitchen. Upstairs, the master suite boasts a modern bath with steam shower, two walk-in closets, and accesses a private terrace. Outside, the pool has a lounge area and an outdoor kitchen. As for the updates to the home, a new owner will appreciate the impact glass, mahogany doors, and stone floors. In addition to his hair salons in Manhattan and Miami, the late stylist had launched Oribe Hair Care, a high-end hair product line. The post Star Hairstylist Oribe’s Miami Beach Mansion on the Market for $4.75M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/oribe-miami-beach-mansion/ While the U.S. economy has been chugging upward for the last seven years, the good times could be coming to an end. But that isn’t deterring determined home shoppers from trying to close on a home. Whether it’s sooner or later, most home buyers, according to a recent realtor.com® survey, believe a recession is on the way (much like winter on “Game of Thrones”). About 70% of home shoppers believe the United States will enter a recession within the next three years. More than 1,000 active home buyers participated in the survey. “There may be concern among some consumers, but economists and analysts generally expect that the next recession will be more mild than the [Great Recession], particularly in the housing market,” says Danielle Hale, realtor.com’s chief economist. However, these gray clouds on the horizon could have a silver lining. If a downturn hits, about 41% of shoppers expect the housing market will fare better than it did in the Great Recession of a decade ago. Another 36% of respondents believe it’s going to be worse, while 23% think it’ll be just as bad. Yet other life factors are simply closer to home. Another recession isn’t going to stop information technology specialist Richard Fame, 51, of Eastpointe, MI, from selling his home to buy a new one. “It is inevitable,” Fame adds, of his family’s facing the possibility of an economic downturn. “If I make money on my current house, that’s great, but I know I’m going to need to move.” In his family’s case, moving to a better school district outweighs fears of a housing crash. “Our next house will be for the long term,” explains Fame. Low mortgage interest rates could help to buoy the housing market as well. Rates fell to just 4.06% this week on 30-year fixed-rate loans, according to Freddie Mac. This could spur more buyers to close before rates go back up again. The housing slowdown, which began over the summer as prices in many markets reached unheard-of highs and more sellers rushed to list their homes to cash in, could also lure buyers to seal the deal. It’s resulted in more inventory and given home shoppers more options. And while home prices aren’t coming down in most of the country, they are seeing a slower rate of appreciation. Why a recession could be heading our wayThere are a number of factors that suggest a downturn could be looming—but that doesn’t mean folks should panic just yet. Despite high home prices, it doesn’t appear that there’s a housing bubble about to burst due to bad mortgages and an over-inflated market. Instead, a U.S. trade war with China could spur one; or a disastrous Brexit. Or it could just be that after some really good years, the good times eventually have to end. “Workers are scarce, with the unemployment rate near record lows, and that’s pushing up wages,” says Hale. “Employers have to pay to attract workers, which could eventually translate into higher prices and cause consumption to slow.” That can cause inflation, a problem that can snowball if it increases at a higher pace than wages. The U.S. Federal Reserve typically tries to keep inflation in check by raising interest rates. This, in turn, makes it costlier for companies to borrow money to open up new operations, invest in new equipment, or hire new employees. And that can slow down the economy. “I don’t think the next recession will be as severe for the housing market as the last one,” says Hale. “This one isn’t likely to be as bad.” The post Home Buyers See Recession as Likely, but It’s Not Stopping Them appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/recession-not-scaring-home-buyers/ WASHINGTON—Sales of new homes in the U.S. increased for the second month in a row in February, a positive sign after a weak stretch for the housing market. Purchases of newly built single-family homes—a relatively narrow slice of all U.S. home sales—rose 4.9% to a seasonally adjusted annual rate of 667,000 in February, the Commerce Department said Friday. This is the highest level since last March. Economists surveyed by The Wall Street Journal had expected a 2.1% rise. Sales were up 0.6% in February from the prior year. The pace of new-home sales remains well below the elevated levels seen before the 2007-09 financial crisis and recession. New-home sales rose in all regions in the U.S. but the West, where sales were flat. Sales of new homes in the South hit the highest level in more than a decade. Despite the recent uptick in sales, the months’ supply of new homes for sale on the market was 6.1, up from 5.4 last February. In the broader housing market, inventory has been tight, driving a run-up in home prices and keeping some potential buyers off the market. Meantime, construction-labor shortages and rising input costs are pushing up the overall cost of buying both new and used homes. Falling mortgage rates and a recent deceleration in home-price growth are two bright spots for the market, which could have helped drive a large jump in sales of previously owned home in February. A gauge of U.S. home-builder confidence stabilized in March after increasing two months in a row, according to the National Association of Home Builders’s Housing Market Index. This survey showed sentiment falling throughout 2018. The post New Home Sales Rose in February appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/new-home-sales-rose-in-february/ The clock is ticking for Prince Harry and Meghan Markle! Their baby is due to make his (or her) royal debut in late April to early May … but will the new parents be settled in their new home before the birth? Suddenly, we’re not too sure. News has surfaced that although the royal couple had planned to move into Frogmore Cottage this week, that probably won’t happen. Their extensive renovation project has hit some snags, delaying their move-in date by as much as four weeks. So what’s taking so long? The slowdown is apparently due to the fact that the royal couple made some last-minute changes to their floor plan. They now hope to expand the kitchen/dining space and knock down even more interior walls to make room for five bedrooms with en-suite bathrooms. Granted, we understand why Meghan and Harry might want their family home to feel just right before they move in … but isn’t this pushing it a bit, with a newborn knocking on their door? What’s taking the royal renovations so long?Anyone who’s ever renovated knows that it almost always takes longer than planned. But making last-minute changes to that plan just drags out the timeline even further. “When you make changes mid-renovation, it has a cascading effect,” explains Jeff Checko, a real estate agent with Ashton Real Estate Group in Nashville, TN, who often guides his clients through home makeovers. “If the homeowner decides they want a doorway moved a little to the right, it causes a chain reaction. We have to tear down the drywall and trim, possibly redo the flooring and deal with everything that’s behind the wall, which could include electrical work.” A simple change like paint is no big deal, Checko adds, but changing floor plans is a different story. “The homeowner may only be considering the surface, but there are many things going on under the drywall or the floor and cabinets,” he says. Checko says homeowner changes are one of the top four reasons renovations are delayed (rounding out that list are delays in materials or supplies, inspection delays, and weather). The founder and CEO of Chicago-based Integro Rehab Allyson Case Anderson agrees, adding that it’s not uncommon for a project to extend beyond its scheduled date of completion once homeowners and contractors spot an opportunity to improve the design. “It’s not that we open things up and see a disaster; it’s that we open things up and homeowners say, ‘Imagine what we could do with this!'” Case Anderson explains. Here come those inspection delaysOnce you begin making layout modifications or revisions to utilities, significant delays must be expected, says Case Anderson. “It’s not physically possible to maintain the initial schedule,” she says. “First, the architect needs to revise the drawings. Then, the homeowners need to approve the revised drawings. Then, the municipality needs to issue a new permit based on the revised drawings. Then, construction starts and we’ll have to do municipal inspections. All of this takes time, and in construction, we all know what time equals.” While construction costs most likely aren’t an issue for Meghan and Harry, throwing money at the problem may not make the work go any faster. As Case Anderson puts it, there are only so many swings in an arm and hours in a day. “We can be efficient, but we are not magicians,” she notes. “We can only do so much within an allotted time, before quality of craftsmanship starts getting compromised.” Checko says builders and renovators should provide homeowners with an estimate of just how long the change will take and how it will impact other projects within the home, while the adjustment is made. Ways to minimize the delaysWhile a sudden burst of home renovation inspiration will most certainly cause delays, there are ways to minimize other potential slowdowns. Case Anderson recommends working with a designer who can help hesitant homeowners make tricky decisions on finishes and decor. That might include intel on the delivery times for certain items that are in demand. For example, they’ll be able to tell a homeowner, “That tile is lovely—and it takes eight to12 weeks to deliver!” Case Anderson notes. “Do you know what we can do in the bathroom while we wait for the tile?” she posits. “Not much. Specify your finishes early, ideally before any hammers are thrown.” The post How Prince Harry and Meghan Markle Just Torpedoed Their Reno Plans appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/prince-harry-and-meghan-markle-move-in-date-delayed/ New Arizona Cardinals head coach Kliff Kingsbury also has a new home. He recently scored a winning mansion in Paradise Valley, AZ, for $4.45 million, AZ Central reported. Welcome to your new digs, coach. Encompassing 7,200 square feet on over an acre of land, the contemporary custom build was completed in 2017. It was last listed for $4.75 million, and Kingsbury was able to shave a little off the asking price. Hired as the Cards head coach in January, the 39-year-old Texas native recently made the move to his new town and team. The posh place looks like a touchdown. The sleek architectural designed by Ilan Pivko offers views of Camelback Mountain from every room in the back of the house. The highlight is the resort-style backyard with a pool and spa. The landscaping features palms, grassy lawns, and new plantings. As for the interior, the listing details noted a “palatial” master suite with an “over-the-top” bath. In addition, the layout includes a large gourmet chef’s kitchen with an island and high-end appliances. Another selling point: The new build, located in the wealthiest area of Arizona, is not far from State Farm Stadium, convenient for home games. Before heading for the desert, Kingsbury was the head coach of his alma mater, Texas Tech University, from 2013 to 2018. Previously, he served as offensive coordinator and quarterback coach for Texas A&M. As a college quarterback, he held many NCAA Division I passing records. The post Arizona Cardinals Head Coach Kliff Kingsbury Buys $4.45M Arizona Mansion appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/kliff-kingsbury-buys-arizona-mansion/ Built in 1776—a rather auspicious year for the United States—an enormous and well-preserved Virginia estate is this week’s most popular listing on realtor.com®. Dripping in Americana and spanning nearly 1,500 acres of rolling, green Virginia soil, the property is listed on the National Register of Historic Places. The main house is a jaw-dropping 38,500 square feet of ornate, hard-carved touches, representing the very best the era had to offer. The grounds include several residences, farm and equestrian facilities, and even a shooting preserve. While the historic home captured the bulk of the clicks this week, it was just one of the notable properties making up our eclectic Top 10 list this week. There’s a San Antonio bungalow priced under $100,000, just begging for a savvy shopper to show it some love. Or a fully renovated Maryland home with the cachet of having once been owned by the famous hunting decoy carver Paul Gibson. Perhaps the North Carolina mansion built as a “tennis palace” with both indoor and outdoor courts will appeal to you. No matter your game, we’re serving up all of this week’s most popular properties, if you’ll just scroll on down… 10. 618 Wena Ave, Homewood, ALPrice: $475,000 Why it’s here: Built in 1935 and designated an historical landmark, this Craftsman-style home has been meticulously maintained over the decades. Hardwood floors run throughout the three-bedroom home, and the bathrooms and kitchen have been recently updated. Located on a roomy lot in a desirable part of town, the postcard-perfect white brick exterior is what truly makes this home sing. ——-- 9. 701 Ontario St, Havre de Grace, MDPrice: $450,000 Why it’s here: This lovely home was built in 1900, but after more than $200,000 spent on renovations, it’s ready to sashay into 2020. The fact that Paul Gibson, the famous carver of hunting decoys, once lived here only adds to the rich history and appeal. After two rooms were combined to create a master suite, the main house now has six bedrooms, 2.5 bathrooms, and more than 3,000 square feet. A detached, two-story building on the property was used by Gibson as a studio and thankfully, has been left intact. ——-- 8. 127 Klein St, San Antonio, TXPrice: $89,900 Why it’s here: This fixer-upper sits on a prime slice of land near the newly developed San Pedro Creek. Built in 1927, the bungalow still has original hardwood floors in the living area, three bedrooms, and a utility room. The listing details state that the house needs some work, but it could be an outstanding buy for investors. ——-- 7. 14101 SW Hidden Hills Rd, McMinnville, ORPrice: $700,000 Why it’s here: Built in 1981, this fully remodeled, chalet-inspired farmhouse sits on a dreamy 10 acres of farmland. Indoors, views of the surrounding acreage are framed by an expanse of windows in the great room with high, vaulted ceilings. The three-bedroom home is spread over three stories filled with light and optimally laid out for entertaining. ——-- 6. 7946 Monroe Ave, Munster, INPrice: $219,900 Why it’s here: About 25 miles south of Chicago, this remodeled three-bedroom home is a sweet deal in the middle of a desirable Indiana neighborhood with good schools, parks, and more. Upgrades include a new kitchen with stainless appliances and new hardwood floors. ——-- 5. 3406 Stagecoach Rd, Durham, NCPrice: $4,500,000 Why it’s here: This Southern plantation/tennis palace comes complete with both indoor and outdoor tennis courts, locker rooms, and a companion workout facility. The 21-acre property also includes a saltwater pool, guesthouse, in-law suite, and office space. The main house is a grand, formal five-bedroom mansion with nearly 13,500 square feet of living space. ——-- 4. 7506 Newburgh Rd, Evansville, INPrice: $259,900 Why it’s here: Abraham Lincoln was a teenager living just 30 miles away when this historic home was built in 1827. Known as the Kenyon House on Newburgh Road, the three-bedroom home was built by Samuel Kenyon and is considered a classic pre-Victorian I-house. Antique features like the circular floor plan, hand-hewn beamed ceilings, and wide plank floors are married with modern amenities. The nearly half-acre property also includes a backyard covered porch and patio, as well as a detached garage with shop area. ——-- 3. 50 Farnham Pl, Metairie, LAPrice: $2,749,000 Why it’s here: It’s the second most expensive home in this NOLA suburb. This custom five-bedroom estate is only four years old and measures nearly 6,000 square feet. It features custom millwork and cabinetry, wood floors, a media room, and a family room with a home theater system. The property also comes with its own saltwater pool, covered patio, and a whole house generator. ——-- 2. 752 Harding Hwy, Newfield, NJPrice: $339,900 ——-- 1. 7500 Ironwood Ln., Warrenton, VAPrice: $29,950,000 Why it’s here: While most of us can’t afford this incredible estate in Virginia, it’s easy to understand why the nearly 1,500-acre spread is attracting so much attention. Listed on the National Register of Historic Places, this grand home was built in 1776 and includes throwback extravagances like a two-story Georgian Revival stone carriage house, farm and equestrian facilities, a guesthouse, additional residences, and a shooting preserve. The post Massive $30M Virginia Estate From 1776 Is Week’s Most Popular Home appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/virginia-estate-1776-most-popular/ If you’re at all an architecture enthusiast, there’s a good chance you’re familiar with the iconic images of those Southern California stilt homes that seem to dangle precariously over a cliff. But what you might not know is that those midcentury moderns make up a 17-house enclave built by none other than rock star architect Richard Neutra, And now one of those homes--perched at the summit of a canyon in Sherman Oaks, CA—is on the market for $1.55 million. Of course, the first question most people ask is a fair one: How do the homes stay up? And what would happen during an earthquake? The answer, according to listing agent Michelle Schwartz of The Agency, is that those homes have survived seven major earthquakes since they were built in 1966. And this house, in particular, was reinforced again after the 1994 Northridge quake, which measured 6.7 on the Richter scale. “The hillside it’s built on is solid bedrock, and that also makes it impervious to landslides,” Schwartz says. “That speaks volumes about the construction and engineering of 1966,” she adds. “The home has never sustained any significant earthquake damage.” Quite apart from being structurally sound, the home has plenty of other features to boast of, such as floor-to-ceiling windows that give the impression that the home is virtually floating on air. “My best moment in the house was standing there, looking out the window with a client, and seeing hawks soaring and swooping and chasing each other,” Schwartz recalls. “I felt like we were right up there among them.” What’s more: The transparent glass balcony railings make you feel as if there’s nothing between you and the open sky. Sipping your morning coffee out there could easily leave you feeling that you’re at a cafe in the clouds—especially when there’s fog in the valley below. “At 1,800 square feet, it’s not a large house,” Schwartz says. “But it feels much bigger than that, because of the open rooms and floor-to-ceiling windows.” The current owner has only been there a couple of years—he bought the two-bedroom, two-bathroom home in 2017 for $1,310,000. He’s added some state-of-the-art, high-tech features to the place since then. He made it a smart house with Control 4 technology, and added a Sonos surround-sound system, automatic drop-down blackout shades, a drop-down screen and a high-end projector, so that at a flick of a switch, the open living room can be converted into a first-class home theater. The interior had already been renovated and restored, with updated features like a steam shower and heated floors in the master bath. But the focal point of the home—the living room’s grand stone fireplace—has been left intact. This stilt house sits on a half-acre lot and, as you can imagine, much of it is steeply sloped—there’s obviously no backyard. But every inch of land surrounding the home, in front and on the sides, is curated with features meant to capitalize on the Southern California climate. There’s a Zen garden, comfy lounge areas, a fountain, a hanging basket chair, and more—all behind a very private fence. “Once you go up there, you just want to stay there all day,” Schwartz says. “The buyer will be someone who has an affinity for classic Neutra architecture, who is uniquely sophisticated, and who wants their home to be their sanctuary.” The post Famous Neutra Stilt House Vaults Onto the Market for $1.55M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/famous-neutra-stilt-house-on-the-market/ Actress Melissa McCarthy has had a pretty versatile career. She brought down the house in “Bridesmaids.” She showed off her range in an Oscar-nominated role in “Can You Ever Forgive Me?” And now, she could be your landlady. The “Life of the Party” star and her director husband, Ben Falcone, have made their former digs available as a furnished, short-term rental for $10,000 a month, Variety reported. No question, this home to the stars is definitely ready for its close-up. The delightful and gated 1940s bungalow in Toluca Lake, CA, offers three bedrooms and 3.5 bathrooms in 2,167 square feet. The charming retreat includes a living room with a fireplace and bay window. The updated gourmet kitchen features high-end appliances and marble counters. The formal dining room opens out to a large family room with French doors leading outside. Plus, the master suite includes a spa bath with a clawfoot tub. The lushly landscaped yard is a true oasis, with pool, outdoor entertaining areas, a cabana, dining area, and barbecue. But you’ll really fall for the fabulous decor. The updated abode comes with floral wallpaper, brightly colored art and furnishings, and comfortable yet stylish furniture. All the decor touches fit with the character of the home. Don’t worry that you’ll be pushing out the A-list couple. The stars moved out long ago in favor of a custom home in another part of Toluca Lake, Variety notes. When not on landlady duty, the multitalented McCarthy is an actress and producer. Her success has made her one of Hollywood’s highest-paid actresses, which ensures she’ll be living comfortably—just not in this house. The post Melissa McCarthy Could Be Your Landlady for $10K a Month appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/melissa-mccarthy-could-be-your-landlady/ The iconic “Full House” and now “Fuller House” home is heading back onto the market next month. The five-bed, 3.5-bath Victorian in the tony Lower Pacific Heights neighborhood inSan Francisco is famous because it was featured in the opening credits of the shows. Homeowner Jeff Franklin, the creator and executive producer of the series, is unloading the property, now that the Netflix hit sequel “Fuller House” is to debut its fifth and final season this fall. “The home will always have tremendous emotional significance to me,” Franklin said in a statement published in the San Francisco Chronicle. “It is a symbol of the shows I love, and the second family I have formed with the casts of ‘Full’ and ‘Fuller House.’ Now that ‘Fuller House’ is ending, I will be putting the home back on the market. I hope to find a buyer who wants to make it a full house once again.” “Full House,” which aired from 1987 to 1995 on ABC, focused on a widowed father (played by Bob Saget) raising three daughters (Candace Cameron Bure, Jodie Sweetin, and Mary-Kate and Ashley Olsen alternating as baby Michelle) with the help of his brother-in-law (John Stamos) and best friend, Joey (Dave Coulier). The sitcom’s enduring popularity led to “Fuller House,” which launched in 2016 on Netflix starring Bure and other members of the original cast. (Lori Loughlin, who played Aunt Becky in both series, will not be returning, after having been charged in a college-admissions bribery scandal.) Franklin purchased the 3,125-square-foot home for $4 million in 2016, according to realtor.com® data. Since only the exterior of the home was used in the filming of the shows, Franklin applied to the local planning department in 2017 to renovate the inside of the home to match what it looks like on set. After neighbors complained that this would make the house even more of a tourist attraction, his permit was revoked. Lower Pacific Heights is a highly desirable neighborhood of single-family homes, condos, and a few low-rise apartment buildings, where the median home price is $1.94 million, according to realtor.com data. (Prior to Franklin’s purchase, the home was rented out for $13,950—a month!) And even without the work being done, whoever buys the home will need to deal with the packs of selfie-taking fans. “Every time you go there, you see people gathering at the front steps,” says Compass real estate agent Nina Hatvany, who has been active in Pacific Heights for about 30 years and showed some prospective buyers the home the last time it was for sale. “The clients I showed it to would not have liked that.” She didn’t remember anything “extraordinary” about the home, although she touted its high ceilings and close proximity to several top private schools. The future owner will have “to think it’s fun that their house would be celebrated and admired—and [not] mind if there’s a bit of a crowd standing outside,” Hatvany says. The post Iconic ‘Full House’ Home Heads Back Onto the Market in San Francisco appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/iconic-full-house-home-heads-back-onto-the-market-in-san-francisco/ |
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April 2021
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