Singer and songwriter Halsey is humming a new real estate tune. The 24-year-old recently snagged a glorious midcentury modern home in the Sherman Oaks neighborhood of Los Angeles, Variety reports. The home was designed in 1959 by architect Richard Dorman, who “helped shape the midcentury modern landscape of Los Angeles,” according to the Los Angeles Conservancy. The singer, whose real name is Ashley Nicolette Frangipane, paid $2.4 million in March for the melodious masterpiece. Located in the “highly coveted” Sherman Oaks neighborhood, the post-and-beam home was “restored and updated while staying true to its original form,” the listing notes. The 2,226-square-foot home has four bedrooms and 2.5 baths. It features walls of glass in every room, tongue and groove ceilings, and an open floor plan. The living room has a stone fireplace, and the sleek kitchen is equipped with walnut cabinets, Viking and Sub-Zero appliances, and a wine fridge. Other spaces include an office, family room, and dining area. The master suite comes with a bath with dual vanities, and sliding glass doors that open to the outside. The guest bedrooms also open to the outside. Other details include built-in storage, a spacious patio, and a carport. Halsey, who shot to fame by posting her songs online, signed with Astralwerks in 2014. Her album “Hopeless Fountain Kingdom” debuted at No. 1 in 2017 and spawned the hit singles “Bad at Love” and “Now or Never.” Last year, she released the song “Without Me,” which has been streamed on Spotify nearly 750 million times. The singer also reportedly owns a contemporary Hollywood Hills home that she picked up in 2017 for $2.2 million. The post Halsey Buys Melodious Midcentury Modern in Sherman Oaks appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/halsey-buys-midcentury-modern-in-sherman-oaks/
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Art collector Nancy Magoon is ready to part with the Colorado mansion she and her late husband built to showcase their art collection. The sprawling estate in Aspen is now listed for $16.9 million. The Magoons bought the wooded property in 1984 and then proceeded to build the ideal backdrop for their formidable—and expensive—art collection. The couple’s holdings feature works from art world superstars such as Damien Hirst and Andy Warhol. The three-story home sits on two parcels of land, which total 4.5 acres, which are part of the gated Starwood community just minutes from downtown. The property is surrounded by botanical gardens, a stream, stone pathways, two architectural bridges, a breathtaking sculpture garden, and spectacular views of the Elk Mountains. The interiors of the 10,000-square-foot, seven-bedroom, seven-bathroom home feature gallery walls designed to display artwork. Open living spaces highlight the views of the property’s decorative gardens and the area mountains. Luxury amenities include a gym, office, and rec room. Throughout the interior spaces, the white walls, clean lines, and simple design let spectacular artwork take center stage. The home is as contemporary and fresh-looking today as it was when it was built three decades ago. Magoon was born into a wealthy New York real estate family and her husband, Bob, was an eye surgeon, according to Architectural Digest. He died last year, and she is now ready to downsize. The couple’s art collection isn’t included in the sale price. Magoon plans to keep some pieces and donate others to museums. But she is willing to make a deal with the new owners to leave the pieces in the sculpture garden or perhaps sell them to another interested buyer. Marian Lansburgh of Douglas Elliman is the listing agent. A pristine property, surrounded by the gorgeous mountain landscape and ready to be filled with priceless treasures—this art-forward Aspen estate is a masterpiece all its own. The post Designed to Showcase Art, Spectacular Aspen Retreat Is Listed for $17M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/art-collector-aspen-retreat/ Alex Ruiz, 29 years old, and his wife, Stephanie Johnson, have steady jobs, are setting aside money for retirement and are slowly paying down their student debt. Yet buying a house seems out of reach for at least another decade. Home values in Asheville, N.C., where they live, are up some 70% over the past seven years. Their student-loan payments and rising rent have made it difficult to save for a down payment, and the houses that go on the market get snapped up right away. “Day to day we’re OK generally,” said Mr. Ruiz, a case manager at a government-funded agency. “But the depressing part is when we take a hard look at the possibility of our future.” For generations, the wealth of U.S. households was built on the foundation of homeownership. That is changing. Homeownership rates for younger Americans have fallen sharply over the last decade. The median age of a home buyer is 46, the oldest since the National Association of Realtors began keeping records in 1981. Economists, policy makers and mortgage lenders expect the trend to extend to younger generations. The decline illustrates what for many Americans is the real legacy of the financial crisis. People who came of age in the crisis and its immediate aftermath had no bargaining power when they entered the job market, crimping their earnings ever since. They started adulthood when the housing market was crashing and watched as banks foreclosed on their parents—and decided they weren’t interested in tying their fortunes to a piece of property. Now, as memories of the crisis fade, they want to buy homes but are finding themselves priced out of the market. Home prices have risen across the board but most steeply among the starter homes first-time buyers can afford, as developers focus on high-end properties where profit margins are higher. The average price of lower-priced homes rose by 64% from early 2012 to late 2018, according to mortgage-data tracker CoreLogic, while the price of higher-end homes rose just 40%. The effects are already reverberating through the economy. More adults in their 20s and 30s are living with their parents, according to census data, which could make them unwilling or unable to move cities for better jobs. The possibility of rent increases could make them less willing to spend, which some economists believe has already contributed to the economy’s slow postcrisis growth. Some young adults said their inability to buy a home had made them rethink having children, which could exacerbate the challenges created by America’s aging population. “Lower homeownership for young adults means lower economic growth,” said Sam Khater, chief economist of mortgage-finance giant Freddie Mac. “That’s it in a nutshell.” Homeownership rates for young people are near their lowest levels in more than three decades of record-keeping. About 40% of young adults, ages 25 to 34, were homeowners in 2018, according to federal data analyzed by Freddie Mac. That is down from about 48% in 2001, when Gen X-ers were young adults. Some economists calculate the decline is actually even steeper. The crux of the problem: Home prices have outpaced wage gains. From roughly the end of 2000 to the end of 2017, median home prices rose 21% after adjusting for inflation, while median household income rose 2%, according to federal and industry data analyzed by Freddie Mac. Some of the drop in homeownership is a matter of preference. The financial crisis made today’s young adults averse to debt and risk, lenders say. That means they might be willing to spend on daily luxuries but not to tie up the bulk of their money in a mortgage. Millennials aren’t making up for lost home equity in other investments. The median net worth for young families plunged by nearly a third from 2001 to 2016 after adjusting for inflation, according to the Federal Reserve. Even if millennials soon start buying homes en masse, as some banks and mortgage lenders predict, there are consequences to buying late. A recent report by the Urban Institute examined homeowners who turned 60 or 61 between 2003 and 2015. Those who bought their first home between ages 25 and 34 had median housing wealth of about $149,000. Those who waited until ages 35 to 44 had half that. The effects of not buying, or buying late, should become more clear as millennials enter new stages of life. The median family net worth of homeowners is more than $230,000, according to the Fed, compared with $5,000 for renters. Without home equity, people are less able to weather job losses or unexpected medical expenses, and less able to start small businesses. Baby boomers could find that when they want to downsize, there are fewer buyers because younger adults never built up equity in a first home. And decades from now, millennials might have to keep working well into retirement age. “Jobs are plentiful, the economy seems good, and lenders are going to look at this and say, ‘Everything’s great,’” said Brad Blackwell, who recently retired as head of housing policy at Wells Fargo & Co. “But they should take the long view.” In Philadelphia, Nate Baird and his wife have set a goal to buy a home next year, before their son starts school. Mr. Baird, an emergency-preparedness planner, took a second job teaching at a local university to earn extra income to save for a down payment and pay off student debt. “We’ve thrown ourselves into working,” said Mr. Baird, 33. “It’s a trade-off.” Though mortgage rates are low, that matters little when home prices are rising faster than income. Increasingly, the young adults who can afford homes will be those whose parents can help with a down payment, economists and lenders said. Elysse Lane, 32, and her husband finished business school in 2016 and wanted to live in the San Francisco area, where she had a job offer and family. They moved to Austin, Texas, instead, in large part because buying a home in California seemed impossible. But the market in Austin is crowded too. They have put offers on three homes but lost to other bidders. One small comfort: They don’t really feel out of place. Many of their friends are in similar situations. The post Financial Crisis Yields a Generation of Renters appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/financial-crisis-yields-a-generation-of-renters/ WASHINGTON—The Federal Reserve is prepared to cut interest rates this week for the first time since 2008, but the biggest source of debt for U.S. consumers—mortgages—has been getting cheaper since late last year. Mortgage rates have fallen recently to the lowest levels since late 2016, tracking a broader slide in U.S. Treasury yields. The average rate on a 30-year, fixed-rate mortgage was 3.75% last week, down from 4.94% in November, according to Freddie Mac. “The most significant impact of an expected Fed rate cut is already upon us,” said Greg McBride, chief financial analyst at Bankrate.com, referring to the drop in mortgage rates. The decline contrasts with trends in other consumer rates since the Fed last tweaked monetary policy in December by raising its benchmark federal-funds rate by a quarter-percentage point to a range between 2.25% and 2.5%. The cost of auto loans, which rose only modestly as the Fed tightened policy from 2015 through last year, has fallen less than mortgage rates since December. The average rate on a five-year, new-car loan was 4.72% last week, down from 4.93% in mid-December. Consumer rates that tend to more closely hew to Fed policy decisions rose in the weeks after its December rate increase, and have remained mostly steady since. These include the average rate on variable credit-card debt, which was 17.85% last week, up from 17.6% in December, and the average rate for a home-equity line of credit, which was 6.74% last week, up from 6.27% in December, according to Bankrate.com. “The big change has been in mortgage rates,” said Tendayi Kapfidze, chief economist at LendingTree. While the decline in mortgage rates hasn’t done much to lift U.S. home sales from their slump, it has important implications for homeowners, buyers and the broader U.S. economy. Mortgages accounted for two-thirds of the $13.67 trillion in U.S. household debt in the first quarter, according to the New York Fed. For home buyers or owners looking to refinance their mortgages, the lower rates could easily save thousands of dollars over the life of a loan or enable them to purchase a bigger house than they could have afforded in December. The decline in mortgage rates since then would shave $175 off the monthly payment on a $250,000, 30-year loan. “The interest rate is certainly appealing,” said Kay Spiva, a realtor in Abilene, Texas, where a growing population has helped the local housing market buck the national trend. “We’ve been strong to start with, and if the interest rates go down, I can only see that continuing.” Because they are typically paid off over decades, mortgage rates are more correlated with 10-year Treasury notes than with the short-term rates controlled by the Fed. But in recent months, 10-year yields have responded to many of the same factors that have convinced Fed policy makers to lower interest rates at their policy meeting Tuesday and Wednesday. Concerns about Brexit, rising trade tensions and slowing economic growth in Asia and Europe have prompted several central banks around the world to ease monetary policy. Negative interest rates outside the U.S., combined with expectations of weaker economic growth and soft inflation have weighed on long-dated Treasury yields. Fed officials were prepared to cut rates by a quarter-percentage point after their two-day policy meeting concludes Wednesday. While such a move may or may not pull mortgage rates any lower, it could eventually filter into shorter-term rates such as credit cards. But economists say the overall impact of a Fed rate cut on U.S. consumers is likely to be muted. In part, that’s because the two categories of household debt that have grown the most during the current expansion—student and auto loans—tend to have fixed rates that don’t move in lockstep with the fed-funds rate, economists at Wells Fargo said in a research note this week. Adjustable-rate mortgages and credit-card debt have shrunk, they noted. It’s also because consumers were already doing fine at a time of low unemployment, rising wages and muted inflation. Consumer spending grew at an inflation-adjusted, annualized pace of 4.3% in the second quarter from the previous three months, the Commerce Department said Friday, underpinning broader economic growth. “Consumers are showing their resiliency,” said Jack Kleinhenz, chief economist at the National Retail Federation. “The expected cut is not so much from a domestic standpoint but from a global standpoint, in support of the global expansion, which then has feedback effects into the United States.” The post Mortgage Rates Were Falling Before Fed Signaled Rate Cut appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/mortgage-rates-were-falling-before-fed-signaled-rate-cut/
“We don’t think it’s constructive to get into the causes of sea level rise. But we see flooding issues, and we’re addressing it.”
via https://www.huffpost.com/entry/climate-change-carolina-coast-sea-rise_b_5d3b1b87e4b074e0692d5c7f Retired NFL star Rob Gronkowski has snagged a fab pad in which to enjoy his free time. The former New England Patriot recently picked up a double condo in Miami, according to Boston.com. The corner unit was purchased for $1.7 million from retired Norwegian soccer star John Carew. The residence was on the market for $1.85 million, and the property’s status is listed as “contract signed.” Built in 2009, the waterfront property looks like yet another big score for the former tight end. Located on the 39th floor of the Marquis Miami, the combined two units offer 3,850 square feet of living space, including five bedrooms and 4.5 baths. Soaring ceilings and walls of windows provide spectacular views of the bay and ocean. The open layout features a living space with a sleek kitchen and dining area. A lofted mezzanine looks over the main living space. The master suite features floor-to-ceiling windows, deck access, and a bath with dual vanities. The two-floor abode also includes a wraparound deck, three parking spaces, and laundry. The building offers residents world-class amenities and services, including a redesigned lobby, pool, fitness center, spas, valet service, and a door attendant. A separate on-site hotel features two restaurants. The location is steps from art and science museums, a performing arts center, and the Miami World Center, with shopping, dining, and entertainment venues. Gronkowski has been flexing his real estate muscle lately. Earlier this year, the 30-year-old sold a corner penthouse in Boston for about $2.3 million. He still has ties to New England, including his two-house compound in Foxboro, MA, which is close to Gillette Stadium. Drafted by the Patriots in 2010, the former tight end spent his entire career with New England until his retirement in 2019. The fan favorite is a three-time Super Bowl champion. Sebastian Wagner with Douglas Elliman represented the buyer, while John Sandberg and Ann Nortmann, also with Douglas Elliman, represented the seller. The post Former Patriots Star Rob Gronkowski Picks Up Miami Condo for $1.7M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/rob-gronkowski-buys-miami-condo/ San Francisco, New York, Los Angeles? Thank u, next! As it turns out, this year’s most sought-after neighborhoods are not those nestled in the nation’s biggest, most famous cities where home prices are just about as high as the skyscrapers. Instead, the hottest ZIP codes are found in substantially less renowned places in the much-more affordable Midwest and Northeast, according to a recent realtor.com® report. They’re the places showing big-time buyer interest and lots and lots (and lots) of home sales. And these are the kind of places where the average buyers don’t need to auction off their first-born child to have enough money to become a homeowner. Most offer median prices well below the national median list price of $316,000. But buyers had better be quick, because homes in these ZIP codes are selling much faster than the national median of 56 days on the market. “People are looking for more affordable places to live,” says Chief Economist Danielle Hale of realtor.com. “Last year we saw people moving to far-out suburbs of major cities. This year, we’re seeing people move to smaller metro areas, which are even less expensive. And they still get access to city life—just not in the biggest cities.” To come up with our findings, our economics team looked at 16,000 ZIP codes from January through June of this year. We figured out which ones received the most page views on realtor.com and had the fewest days on the market. We also looked at median home list prices, mortgage statistics, employment and population growth figures, household incomes, and other demographic statistics. ZIP codes needed at least 12 listings per month to be included. And only the top ZIP code from each metro was included. So what are the top spots? 1. Grand Rapids, MIZIP code: 49505 (Creston) Grand Rapids is reigning supreme for the second year in a row thanks to an influx of new residents, particularly younger ones. They’ve transformed the former industrial town into something of a hipster mecca, filled with craft breweries and cool brew pubs. (Hey, it isn’t called Beer City USA for nothing.) The Creston area is in high demand due to its location just above downtown, plethora of parks, Kent Country Club, and good public schools. The inexpensive real estate is also a big draw for cost-conscious, first-time home buyers. (This is the first time this ZIP made the list, as last year one in the southern portion of the city topped the ranking.) “There’s a lot of cool, little communities in that area,” says real estate broker Michael Ross of Grand Rapids Realty. “It’s up-and-coming and growing.” The area mainly offers suburban-style, single-family houses with backyards starting around $120,000. But prices are rising fast. They’re up 11.3% year over year. “Grand Rapids has a lot going for it. It’s superaffordable,” says Hale. “Younger buyers are coming in waves.” 2. Omaha, NEZIP code: 68144 (Prairie Lane) Prairie Lane’s appeal lies in its location, just 12 miles west of downtown Omaha near the interstate. There’s plenty of shopping, including the Oak View Mall. And it borders Zorinsky Lake, a bonus for those who like to go fishing. Plus, there are lots of good jobs in the area at companies such as Berkshire Hathaway, Union Pacific Railroad, and Werner Enterprises. Like most of the other places on this list, the housing is predominantly single-family homes. Buyers on a budget can score a three-bedroom, three-bathroom fixer-upper with a big backyard and a deck for $167,500. With such prices, it’s not exactly surprising that millennials make up about 43% of buyers in the community. Meanwhile, those with more green to burn can pick up a 5,400-square-foot, recently remodeled dream home with a luxe master bath on almost an acre of land for $875,000. 3. Boise, IDZIP code: 83704 (Winstead Park) You can thank Californians for Boise becoming one of the West’s new “it” cities. As the larger West Coast cities have become more expensive, residents have been fleeing to lower-cost Idaho. The city boasts plenty of outdoor entertainment (e.g., mountain resorts popular with skiers and plenty of rivers and lakes). It also has a burgeoning tech scene. That’s attracting both workers and retirees. They can sell their modest homes in places like San Francisco and Seattle and buy larger, nicer properties in the Boise area for a fraction of the price. And the Winstead Park area, which encompasses the 83704 ZIP code, offers some of the best bargains around. Homes here are about 38% less than the $399,900 median for the whole city. In the Winstead Park neighborhood, the majority of the real estate up for sale are single-family homes. Buyers can scoop up two-bedroom ranch homes in need of a little work starting around $200,000. Most of those moving in to the community are older millennials and Generation Xers, according to realtor.com data. “Boise has a great tech scene with lots of local employers,” says Hale. The area is “a big draw for people in California and Washington who want to stay in the industry, but are tired of the expenses.” 4. Shawnee, KSZIP code: 66203 (Old Shawnee) You don’t have to spend a fortune to own a home in a walkable downtown with plenty of locally owned restaurants and shops. But you may have to move to Old Shawnee. This Midwestern suburb is just 10 miles southwest of Kansas City, MO, along Interstate Highway 35. However, prices may not stay low for long. They’ve jumped 16.4% year over year in the 66203 ZIP code. And millennials are at least partly the reason—they made up about 43% of buyers in the area with mortgages. But most of the residents there are older families who have been there for years, says local real estate agent Rosemary Male of Better Homes & Gardens Real Estate Kansas City. Single-family homes under $200,000 go fast. But patient—and persistent—buyers can find a few listings for just under that mark. This cheerful, three-bedroom, 2.5-bathroom ranch with a deck was listed at $189,000. And it was recently remodeled. The area, which is between two major highways, “is centrally located and it’s got a strong hometown vibe to it,” says Male. “They have festivals and different events in that area a lot.” 5. Rochester, NYZIP code: 14609 (North Winton Village) This former industrial town, where Kodak was founded in 1888 near the southern shore of Lake Ontario, has become popular with those looking for a great real estate deal. It’s a lively place to be thanks to all of the college kids attending the University of Rochester and nearby Rochester Institute of Technology. Plus, the North Winton Village area is the cheapest ZIP on our list. The median price for the entire city isn’t too bad either, at a still-pretty-low $146,900. Handy folks can pick up a nearly century-old, single-family home for under $500,000. But plenty of move-in ready abodes abound for less than $100,000. Thisfour-bedroom, one-bath house with a wood-burning fireplace and fenced backyard is listed at $94,000. “Young buyers are looking for affordability, and that’s why they’re flocking to this ZIP code,” says Hale. Plus, there are plenty of jobs in the “medical and education industries.” 6. Livonia, MIZIP code: 48154 Those who enjoy the cultural amenities of Detroit, but don’t want to live in the city as it continues to undergo a resurgence, are opting for suburbs like Livonia. The oasis of single-family homes with green lawns is just 20 minutes from the Detroit Institute of Art and the historic Eastern Market. It’s also near many of the area’s employment hubs such as the Ford Motor Co. headquarters in Dearborn. But with more buyers discovering the area and more newly constructed homes going onto the market, there’s been a bump in prices. They shot up 6.2% year over year, according to realtor.com data. “It’s right in the center of Livonia,” says real estate broker Brian Duggan, of Duggan Realty. “There’s more shopping. … There’s more events happening in that section.” Most of his clients are in their 30s and 40s buying newly constructed three- or four-bedroom homes in the $320,000 range. However, there are still plenty of bargains in the area. Folks can snag ranches starting in the low $100,000 range. This four-bedroom, one-bathroom ranch with an enclosed sunroom, deck, and two-car garage is going for $129,900. Those who don’t want to deal with home maintenance may prefer a condo. This 1,800-square-foot, three-bedroom, 2.5-bathroom brick condo with a fireplace is listed at $195,000. 7. Melrose, MAZIP code: 02176 (Wyoming) Melrose is the exception to the affordability rule. The more affluent Boston suburb, just 10 miles north of the city, boasts a strong school system, several rail stops for easy access to Boston, and a quaint downtown filled with restaurants, shops, and art venues. That may be why this community also made realtor.com’s top ZIP codes list in 2016. But buyers had better pony up: Homes in Melrose cost nearly double the national median price. And that’s even after prices dipped 1.7% compared with last year. However, everything is relative. Melrose is still a bargain compared with the median $1,400,500 home price within the Boston city limits. The area does have some more affordably priced condos for those who don’t mind investing in an update starting around $265,000. This renovated one-bedroom with a balcony is going for $275,000. Single-family homes go for much more, with ones in need of some work starting around $450,000. “Melrose is driven by buyers looking for the suburbs,” says Hale. “And it’s less expensive than other towns [nearby].” 8. Arlington, TXZIP code: 76018 (Southeast Arlington) If you’re wondering what Arlington’s secret sauce is, it’s the city’s location. Arlington is ideally situated in the bustling region between Dallas and Fort Worth. And as more large companies are moving to and expanding in the area, there are plenty of new residents in need of affordably priced housing. Home prices in the Southeast Arlington area rose 7.5% year over year. But they’re still a steal compared with Dallas, where homes are going for a median $459,000 within the city limits, and Fort Worth, at $272,000. In Arlington, move-in ready, three-bedroom homes start around $200,000. Local buyers can put their savings toward an epic night out in one of the bigger cities, which are within a short commute. Or sports fans can splurge on a game at the AT&T Stadium, home of the Dallas Cowboys, or the Globe Life Park, where the Texas Rangers baseball team plays. 9. Goffstown, NHZIP code: 03045 (Pinardville) Admit it: You’ve probably never heard of Goffstown. The city of approximately 18,000 residents is located about 90 minutes north of Boston and just west of New Hampshire’s largest city of Manchester. The Pinardville area, which includes 03045, is a quaint, historic Northeastern town with tree-lined streets where everyone seems to know your name. The downtown boasts older brick buildings housing the town’s mom and pop shops and restaurants. It’s located just near Saint Anselm College, one of the area’s oldest, Catholic liberal arts schools with about 2,000 students. Prices area high compared with the rest of the nation, but they’re a fraction of the $1,400,500 median home price in the city of Boston and the $589,900 median price tag in the Boston metro area. Single-family homes start around $200,000, while two-bedroom condos can be found for about $150,000. 10. Colorado Springs, COZIP code: 80916 Those who like the outdoorsy culture of Denver and Boulder—but not their high home prices—are increasingly looking at Colorado Springs instead. The city, known for its 1,300 acres of stunning, natural sandstone formations in the Garden of the Gods, is only about 70 miles south of Denver. And it offers its own local brewery and tech scenes as well as plenty of outdoor activities. The 80916 ZIP code hasn’t always been the most desirable place to live. It does encompass the local airport and abuts the Peterson Air Force Base, after all. But the area’s mix of townhomes and single-family homes are significantly cheaper than in the rest of the city. The median price in the Colorado Springs metro area, which includes neighboring towns, is about 56% higher, at $383,000. Two-bedroom townhomes start around $150,000, while a detached house will set buyers back about $160,000 and up. This four-bedroom house with a double deck and stainless-steel appliances is listed at $159,900. “It’s not too far from Denver, so depending on traffic it’s only an hour or so,” says Hale. “But it’s significantly more affordable.” The post America’s 10 Hottest Neighborhoods, 2019 Edition appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/americas-10-hottest-neighborhoods-2019-edition/ The future is officially here. Back in 2017, shipbuilding company Arkup announced the ultimate in luxury waterfront living: a yacht house. This month, the company unveiled its first completed model in South Florida. Well-heeled buyers can now put in an order for their very own yacht house. The price tag on these floating homes? Anywhere between $5.5 million and $10 million. At a glance, the finished product appears to be the top two floors of a luxury condo building set on the water. Which is kind of the point. The 75-foot vessel comes standard with floor-to-ceiling windows, four en suite bedrooms, and a staggering 2,100 square feet of outdoor space spread among the terraces and decks. The interior spaces don’t look vastly different from the multitude of luxury condos currently on the market in Miami, but their design and features are unique. First off, the yacht house is constructed like a boat rather than a home, which means it’s designed to withstand life on the water. There are four hydraulic steel “spuds” able to anchor the yacht into the ground. These spuds (as well as the vessel itself) are built to withstand up to a Category 4 hurricane. The anchoring capability also makes it possible to design actual aquatic neighborhoods—which may be crucial in the decades to come in South Florida. The floating home is also self-sufficient—and a luxurious way to life off the grid. The roof is covered in 2,300 square feet of solar panels, which generate enough power for air conditioning, lights, and a 20-mile trip on a single charge. The yacht also collects and purifies rainwater, and is equipped with a waste management system. This yacht house is touted as an improved take on luxury living thanks to its zero-emission, self-sustaining, top-of-the-line construction. Best of all? It’s virtually fee-free and marketed as a way to live independently. The condo-style boat is registered as a recreational vessel—which means no HOA fees, no property taxes, no city law constraints. No nothing. The downside? No mortgage lender will finance this type of residence. The deposit on this yacht house is 20% of the price, and the remainder of the cost is split into two payments. Whatever the cost, this slice of independent waterfront heaven might just be worth it. The post A Yacht House? Life on the Water Just Got a Whole Lot More Luxurious appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/yacht-house-luxury-condo-on-the-water/ If canines had the wherewithal to design homes, this fabulous San Francisco Bay Area estate might be such a result. A mansion in Alamo, CA, designed by PeopleSoft co-founder and pet lover Dave Duffield and his wife, Cheryl, is on the market for $28.5 million. Dana Green of Compass holds the listing. But will two-legged mammals also enjoy this luxury, 21-acre estate? We’ll bark out an emphatic yes. Let’s take a tail-wagging tour with five must-know details about the pet-friendly mansion inspired by an English manor. This home is for the dogsNo, really. The Duffields had the home custom-built for their family and pets. In addition to paw-washing stations positioned around the property, the grounds also include a dog spa and aviary. And if you’re experiencing a little doggie deja vu, this isn’t the first time this mansion has landed on the market. A year after the home was built, the family relocated to Lake Tahoe, and attempted to sell the property in 2016 for $39 million. At the time, the proceeds of the sale were promised to the family’s animal charity, Maddie’s Fund. With no luck on the sales front, the home was donated to the charity this year and it will receive all funds from the sale. So for pets in need, and the humans who care for them, the sale of this property is a win-win. $28.5 million is a relative bargainThe current price, which reflects a $10.5 million reduction from the original list price, is nowhere near the $135 million-plus the compound cost to build. And even at $28.5 million, the property is the most expensive listing in the tony East Bay suburb. Completed in 2013, the home design features security and technology “befitting the tech visionary who created this home,” according to information supplied by Terri Robbins Tiffany, Sand Hill PR Partners founder and CEO. English-style manor in the East BayWhere else was the cash spent? Well, there’s a 21,582-square-foot main house, a guest cottage, and a car barn—and a total of 10 beds and 22 baths. Over the three-year construction period, over 200 master craftsmen were on site daily to oversee every element of the home’s creation. The result is a well-appointed and well-conceived mansion. “No matter the feature, whether it’s the outdoor cooking pavilion, pool and slide area, or a barn-inspired great room, there’s always a harmonious blend of old-world charm with modern amenities,” says Steve Hill, treasurer for Maddie’s Fund. Built for outdoor fun…Backing onto a nature preserve, the private grounds are designed for activities such as gardening, biking, and hiking. Along with a fabulous pool with an awe-inspiring slide, there’s a dreamy treehouse accessed by a 75-foot suspension bridge. For those who want a less hectic time alfresco, there’s an outdoor kitchen as well as lounge and patio spaces. If that’s not enough, a buyer could also add equestrian facilities, a nine-hole golf course, an indoor sports center, or a tennis court. … and an indoor extravaganzaIf you’d rather cocoon indoors, that’s no problem. There’s an abundance of entertainment options, including two bars, a wine cellar, four kitchens, a gym, game room, and 14-seat cinema. And don’t panic! Should the need arise, the gated home comes with a vault and two safe rooms. The post Puppy Love: Pet-Friendly Mansion in Bay Area a Bargain at $28.5M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/puppy-love-pet-friendly-mansion-in-bay-area-28-5m-bargain/ Pending home sales rose in June, with activity particularly brisk in the western part of the U.S., a trade group said Tuesday. The National Association of Realtors® said pending home sales climbed 2.8%, with gains in each of the four major regions, including a 5.4% jump in the West. Compared to 12 months ago, sales rose 1.6%, the first year-over-year gain in 17 months. The NAR attributed the gain to strong job growth, a near-record stock market, rising home values and low mortgage rates. The Case-Shiller home-price report also released Tuesday showed moderating gains in prices in key Western cities, and in Seattle’s case, an outright year-over-year decline. A sale is listed as pending when the contract has been signed but the transaction has not closed. The pending-home-sales index typically represents about 20% of the transactions for existing home sales. The post Pending Home Sales Rise in June, Helped by Western Gains appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/pending-home-sales-rise-in-june-helped-by-western-gains/ |
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April 2021
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