San Antonio Spurs head coach Gregg Popovich is once again shooting for a sale of his San Antonio estate. The 70-year-old basketball lifer is now asking $3.5 million for the 1999 mansion, the Los Angeles Times reported. Popovich bought the massive home in 2005, records indicate. His wife, Erin Popovich, died last year after a long illness, and he initially placed the home on the market in September for $4.5 million. With no takers, the property has been relisted with a price chop. Located in guard-gated Vineyard Estates, the private and secluded space offers panoramic vistas, according to the listing description. The home is custom-built, and its layout features four bedrooms, 5.5 baths, and 9,640 square feet of interior space. Details include floor-to-ceiling windows, grand spaces, an oversized formal dining room, and a living room with a fireplace. In addition, there’s an office, a fully equipped chef’s kitchen, and a family room with soaring ceilings. Along with a master suite, the guest bedrooms, accessed by elevator, are all ensuite as well. That level also includes a game room and a gym. Plus, wraparound balconies offer extensive views. Outside, the 2.62 acres of landscaped grounds include an outdoor kitchen, vanishing-edge pool, and a temperature-controlled, 600-square-foot wine cellar that holds 3,000 bottles. Popovich, 70, took over as head coach of the Spurs in 1996 and is currently the coach with the longest tenure in the NBA. The three-time NBA Coach of the Year has taken the team to 1,245 victories in his career and won five NBA championships. The post Spurs Coach Gregg Popovich Relists San Antonio Home for $3.5M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/gregg-popovich-lists-san-antonio-home/
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Lace up your boogie shoes and get ready to shake, shake, shake. We’re shimmying across the country to spy on how the finest dancers sashay the night away in the ultimate private clubs: in-home discotheques. These spaces with bars, dance floors, and professional-grade sound systems are intended to entertain a crowd as well as (or perhaps better than) the local watering hole. We twirled through listings nationwide and found 12 homes on the market right now that have their own dance clubs. Some are oriented toward live music and others are ready for a DJ to plug in, but all of them boast their very own glittering disco ball. No matter what your late-night tastes, one of these spaces, designed for dancing the night away, is likely to get those toes tapping—no ID or cover charge required. 170 Longview Blvd, Gettysburg, PAPrice: $324,900 ——-- 120 Montecito Ranch Ln, Summerland, CAPrice: $65,000,000 ——-- 3681 Oak Glen Cir NW, North Canton, OHPrice: $749,900 ——-- 27 Robin Dr, Jefferson Township, NJPrice: $495,500 ——-- 6455 N. Sauganash Ave, Lincolnwood, ILPrice: $1,849,900 ——-- 657 Summit St, Englewood Cliffs, NJPrice: $3,250,000 ——-- 2103 Meadowbrook Ln, Glendora, CAPrice: $1,795,000 ——-- 706 Front Royal Cir, Fayetteville, NYPrice: $774,500 ——-- 1785 S. Cora St, Des Plaines, ILPrice: $695,000 ——-- 11080 Abbotts Station Dr, Duluth, GAPrice: $569,000 ——-- 4 Oak Hill Dr, Millstone, NJPrice: $599,000 ——-- 2 Smith Ave, Nyack, NYPrice: $2,500,000 The post Disco Inferno! Dance On Into These 12 Homes With Private Discos appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/disco-inferno-dance-on-into-these-12-homes-with-private-discos/ With a name like the Stoner mansion, you’d expect interest in this historic house to be blazin’. However, this gorgeous brick Tudor in West Hartford, CT, has been chilling out on the market for over two years. The mansion with the distinctive moniker ambled on to the market in June 2017 with an asking price of $3 million. A couple of years (and a few price cuts) later, the home is asking only $1 million. Let’s say it together: “Whoa!” Why is the grand mansion built in 1928 for a local businessman named Louis Stoner having a rough time finding a buyer? One main reason, according to co-listing agent and current homeowner Mary McGowan, is the place’s sky-high taxes. When she purchased the mansion in 2011 for $2,725,000, she believed her property taxes would be in the range of $30,000 to $40,000. Her actual tax bill? $69,000. Whoa, indeed. She spent a few years working with the local assessor and eventually got the property taxes reduced to $55,000. Even with the tax burden a bit reduced, she decided to part with the nine-bedroom home in 2017. But once potential buyers took a peek at the taxes on the property, mellows were harshed. “It’s a beautiful home in a beautiful town, but the tax issue has rendered it unsellable,” says McGowan. The mildly exasperated agent also deployed the word “conundrum” when discussing the property tax problem as it relates to a potential sale. And this home isn’t alone in the tax-unfriendly bracket. McGowan cites a different historic home in the town facing the same issue. Once priced at $5 million, the home known as “Eyrie Knoll” now sits on the market for $1.3 million. With Stoner mansion now priced under a million bucks, an owner could become “lord of the manor,” as McGowan puts it, for only $76 per square foot. Yes, this mansion measures in at a whopping 13,132 square feet—which means (taxes aside) a buyer could strut away with a smokin’ bargain. The new price has drawn in “schemers and dreamers” who fantasize about buying a real-life mansion in a desirable town, she says. Buyers who hadn’t considered mansion life have attempted to make the finances work to score this huge home. However, the larger buyer pool also comes with the cold splash of reality: “Buyers can now squeak by and actually afford it,” she explains. “But they don’t take utilities, insurance, upkeep, and taxes into account.” A secondary (but also big) reason buyers haven’t bought in? The mansion isn’t exactly a practical place to live. “The sheer size is unappealing to some buyers,” says McGowan. She was honest in her assessment of what today’s buyers are looking for, and up to now this mansion hasn’t been it. Buyers have sniffed around and asked about converting the mansion into a retreat or mixed-use facility of some sort, but the agent doesn’t believe the town will relax the property’s current single-family zoning. Still, the house is beautiful and in great shape, she says. Classic features have been preserved, and there’s a great mix of old and new features and amenities. For buyers looking to offset their monthly costs, there’s a detached carriage house on the property that could be rented out for income. All she needs now is one buyer who appreciates a “gorgeous historic home” to roll up and make an offer. The post The Stoner Mansion Isn’t What You Think—but It Is a Smokin’ Bargain appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/stoner-mansion-connecticut-smokin-bargain/ “House Party” is realtor.com’s official podcast about the overlapping worlds of real estate and pop culture, hosted by Natalie Way, Erik Gunther, and Rachel Stults. Click the player above to hear our takes on this week’s hot topics. If you’re one of the nearly 3 million people interested in storming Area 51 to “see them aliens,” we’ve got good news: We can make your close encounter even closer—we found homes for sale within driving distance of the highly classified U.S. Air Force facility. Also: What’s the most popular interior design style in your state? We discuss the surprising results of a recent study. (Alaska and Nebraska, you confuse us!) We also discuss Ed Sheeran stirring up trouble with his neighbors in the weirdest way possible, and Kid Rock selling his Detroit mansion (you won’t believe what it looks like on the inside). Of course, we also touch on this week’s real estate winners and losers. So what are you waiting for? Subscribe on Apple Podcasts, Google Play Music, Spotify, or wherever you get your podcasts. And 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. Want to chime in? 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. Email us at [email protected], follow us on Facebook, or tweet us @housepartypod on Twitter. ——-- Stories we discussed on ‘House Party’ this week:What Are the Top Interior Design Styles in Every State in 2019? Fellow Earthlings, We’ve Detected 11 Homes on the Market Near Area 51 Kid Rock Selling Detroit Mansion for $2.2M—Beer Pong in the Basement! Former NBA Star O.J. Mayo Loses Milwaukee-Area Home to Foreclosure Tim Tebow Picks Up Another Jacksonville, FL, Mansion for $2.9M The post ‘House Party’ Podcast: Would You Live Near Area 51? Plus, Ed Sheeran’s Neighbor Drama appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/podcast/episode-35-house-party/ Actor Mike Connors—best known for playing private detective Joe Mannix on the CBS drama series that ran from 1967 to 1975—is gone, but not forgotten. “Mannix” pops up in Quentin Tarantino‘s 1969-set “Once Upon a Time … in Hollywood,” as Brad Pitt‘s character settles in to watch an episode of the detective show with a pot of macaroni and cheese. Now the Lake Arrowhead, CA, retreat Connors built is on the market for the first time ever, for $2.2 million. Connors, who died in 2017 at the age of 91, and Mary Lou, his wife of 70 years, built the classic A-frame on the lake’s edge in 1961. It was quite a hit with the Hollywood crowd, with Steve Lawrence and Eydie Gorme, Frankie Avalon, Richard Crenna, Bob Newhart, and sportscaster Vin Scully among the visitors who stopped by to relax on the large deck when the Connors were in residence. It’s easy to imagine them sipping cocktails inside or out of the 3,639-square-foot cabin. The four-bedroom, 4.5-bathroom residence features two large family/living rooms . One is tucked under the eaves and has doubled as a media room and extra sleeping quarters, while the other is downstairs and has a stone fireplace plus access to a deck overlooking the lake. There’s also a master bedroom with a fireplace and private balcony, which also offers lake views. Many of the rooms, including some of the bathrooms, have the original wood paneling, retaining that classic vacation home feel. Outdoors on the quarter-acre lot you’ll find a double boat dock with a covered pier patio where guests can stop and soak in the views. The home’s massive outdoor deck—which has its own cozy fireplace—is accessible from the dock. Friends can easily stop by in their own boat. Connors got his start in the entertainment industry in the ’50s, when he was cast in the John Wayne film “Island in the Sky.” He went on to have a successful career on both the big and small screens, most memorably as the titular detective in “Mannix.” The post Former Lake Arrowhead Retreat of ‘Mannix’ Star Mike Connors Is Listed for $2.2M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/lake-arrowhead-retreat-of-mannix-star-mike-connors/ Every home has a history—and this South Boston home has a grisly one. The property where infamous gang leader Whitey Bulger tortured, killed, and buried his victims has hit the market for $3.5 million. Buyers who want their own piece of macabre Boston gang history had better act fast, though. Offers on theproperty, which includes two unassuming, separate residences on the same lot, are due by Wednesday. The light green paint and black shutters of this charming, Cape Cod–style house in the trendy City Point neighborhood belie the unspeakable horrors that have taken place there. In the 1980s, it was the base for the gang’s murders, earning it the nickname “The Haunty.” (The listing omitted this colorful detail.) The main home features 2.5 bedrooms, 1.5 bathrooms, and an open kitchen and dining room. It was built in 1890, according to realtor.com® data. The rear apartment has two master suites and two bathrooms. They have separate entrances and utilities. There is also a six-car garage and a fenced patio on the property. The home, which federal prosecutors once called the “house of horrors” is being sold as is. It’s marketed as being a development opportunity due to its large, 5,000-square-foot lot. The main house is where Arthur “Bucky” Barrett, John McIntyre, and Deborah Hussey were killed and buried in the basement. The basement had a dirt floor at the time. “That’s where the bodies was buried,” Stevie “the Rifleman” Flemmi said on the witness stand in 2013, according to the Boston Herald. “In the cellar.” The bodies were exhumed and moved before the property was sold, according to court testimony. It was owned by Bulger associate Pat Nee‘s brother until it was sold in 1985 to its current owners. Bulger was beaten to death in prison in October while serving his two consecutive life sentences for murder. He was 89. Some of those murders he was serving time for were committed in the house. “South Boston has a dark history. This is one of many properties that has had trauma,” says Boston real estate broker Sara Walker of Bode Well. She hopes that developers will tear down the home and put up something new in its place. “It is an opportunity for the neighborhood to clear some darkness. … It’s healing,” she says. The current owners, who are not affiliated with Bulger’s gang, now live in the smaller addition they constructed in 2014. They rent out the main house. “The owners are one of the most wholesome, hardworking families,” Walker says. “They raised two boys in the house.” The $3.5 million price tag is nearly 30 times the $120,000 the current owners originally spent on the home in 1985, according to the Boston Globe. “The price is a reflection of the development potential of this lot,” Walker says. The post Whitey Bulger Gang’s Notorious ‘House of Horrors’ Is Up for Sale in Boston appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/whitey-bulger-gangs-notorious-house-of-horrors-up-for-sale-in-boston/ The Consumer Financial Protection Bureau is set to eliminate a regulatory loophole that made getting a mortgage more feasible for thousands of Americans. The consumer watchdog agency announced this month that it will allow a temporary provision commonly known as the “qualified mortgage patch” to expire in January 2021 as originally planned or shortly thereafter. The CFPB has also started fielding comments from the public as to what should replace the patch.
The provision at hand exempted Fannie Mae and Freddie Mac from certain requirements of the CFPB’s “Ability to Repay/Qualified Mortgage Rule,” which set the standards for the design and underwriting of loans purchased by the government-sponsored enterprises. This also ensured that borrowers could afford the loans they were receiving. In particular, this regulatory loophole or “patch” allowed Fannie Mae and Freddie Mac to purchase loans where the borrower’s debt-to-income ratio exceeded the standard of 43% set by the Ability to Repay/Qualified Mortgage Rule. In cases where the debt-to-income ratio went above the 43% limit, a loan could still obtain “QM status” if other factors were considered to ensure a borrower’s ability to repay. “Readjusting away from the patch can facilitate a more transparent, level playing field that ultimately benefits consumers through stronger consumer protection,” CFPB Director Kathleen Kraninger said in a statement. Millions of borrowers have relied on the ‘patch’A March 2019 study from the Urban Institute found that roughly 3.3 million mortgages, equivalent to 19% of the loans sold to Fannie and Freddie between 2014 and 2018, were made possible by the regulatory loophole. Consequently, opponents of the policy shift argue that doing away with it entirely would severely restrict access to credit for these people. Furthermore, they argue that borrowers whose debt-to-income ratio exceeded 43% have not proven to be less likely to repay their loans.
“We don’t think it’s fair to arbitrarily cut certain people out of the market who have demonstrated they can repay certain loans,” said Mike Calhoun, president of the Center for Responsible Lending. Calhoun argued that other factors — namely credit scores, the size of the down payment and the type of loan — have proven far more predictive of whether a borrower will be able to afford to take on a mortgage than the debt-to-income ratio. Moreover, the policy change’s impact would be most acutely felt by black, Hispanic and low-income Americans. For instance, the Urban Institute report found that black Americans were 29% more likely than borrowers overall to have a Fannie or Freddie loan with a debt-to-income ratio above 43% than below that level. Not all of these borrowers would be completely without options. Some could turn to loans offered through government agencies’ programs, including Federal Housing Administration, Department of Veterans Affairs and Department of Agriculture loans. These agencies were allowed to set their own ability-to-repay standards, and they opted to institute higher debt-to-income limits. But getting one of these loans can be a more time-consuming process, Calhoun argued, which could put some home deals in jeopardy. Plus, the loans can come with additional costs, such as mortgage insurance, which a borrower might be able to avoid with Fannie or Freddie loan. This regulatory loophole may have contributed to rising home pricesReliance on this regulatory loophole or “qualified-mortgage patch” has grown in recent years, data show, as home prices and interest rose more quickly than wages in many parts of the country, making buying a home a more expensive proposition for Americans.
But some people who support removing the patch actually blame it in part for the affordability crisis. “Increasing the debt-to-income ratios can lead to house price booms,” said Edward Pinto, director of the American Enterprise Institute’s Housing Center. This, Pinto said, is because the patch allowed people to buy “more house with the same amount of income.” Restricting the amount of debt a borrower can take on if they want a mortgage, at least relative to her income, would limit her ability to buy higher-priced homes. Consequently, home-price appreciation would occur at a slower clip than it has in recent years if the patch expired, which would aid in addressing affordability concerns. Pinto also argued that the 43% debt-to-income ratio limit was already high by historical standards — in the 1990s, the average debt-to-income ratio was 36%. But others argue that housing supply has played a bigger role in determining home prices than lending practices have. “It seems like the wrong response to the affordability problem,” Calhoun said. The post Why It Could Get More Difficult for Americans to Get Approved for a Mortgage appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/why-it-could-get-more-difficult-for-americans-to-get-approved-for-a-mortgage/ Although you’ve seen the character actor Paul Dooley in movies like “Sixteen Candles” and “Runaway Bride,” and TV shows like “ER” and “Curb Your Enthusiasm,” you won’t be seeing him as much in Malibu anymore. He’s put his lovely La Costa Beach cottage on the market for $7.5 million. Dooley and his wife, writer-director Winnie Holzman, who created the hit TV series “My So-Called Life” and wrote the book for the smash Broadway musical “Wicked,” bought the 1,828-square-foot, oceanfront home in 2012 for $6,950,000. Originally built in 1952, the elegant yet rustic home has been renovated in a “European style that takes you straight to the south of France,” says listing agent Lindsay Galbraith of Sotheby’s International. The artisan-crafted stone, stucco, and Venetian plaster throughout reflect those nods to Old World style. Other European-style features include a flagstone courtyard, tiled roof, arched, natural wood cottage doors, and barrel-vaulted, wood-beamed ceilings. The gorgeous ocean views through banks of glass doors and windows reflect the style of prime luxury vacation spots along the coast. “It’s a completed artists’ retreat on one of the best beaches in Malibu,” says Galbraith, adding that it’s a “magical, one-of-a-kind home.” The kitchen is wide open to the living/dining room area, and has an expansive island, as well as top-of-the-line appliances. The home features three bathrooms and two bedrooms: one with access through French doors to a deck overlooking the sand and surf; the other with French doors leading to a private courtyard with a fountain. Dooley, 91, had his first big showbiz break when Mike Nichols cast him in “The Odd Couple” in 1965. He’s been a steadily working actor ever since, in films like “Breaking Away,” “Hairspray,” “Game Night,” and several Christopher Guest movies. Holzman, 64, is an Emmy-nominated writer for shows including “thirtysomething” and “Once and Again,” and has also appeared as an actor in those shows, as well as others, including “Curb Your Enthusiasm,” “Major Dad,” and “Roswell.”
The post Actor Paul Dooley Selling His Sweet Malibu Beach House for $7.5M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/paul-dooley-lists-his-sweet-malibu-beach-house-for-7-5m/ With all due respect to ocean lovers, there’s something unique and mysteriously seductive about lakeside living. The serenity. The fresh water. Those amazing docks! The buoyant boating and tipsy tubing. The pronounced lack of great whites and squishy jellyfish. And—get ready for it—the relative affordability. Because you don’t need to be a gazillionaire to afford a home in a bona fide lake town—you just need to know where to look. And that’s why the data team at realtor.com® set out on its annual warm-weather crusade to find the best affordable lake towns in America. These are the places with plenty of well-priced homes, and plenty of cool stuff to do on and off the water. Choices, choices. Do you shell out more for a home on a bigger body of water, maybe even one of the Great Lakes, for the ne plus ultra in fishing and water sports? Do you search out those tourist destinations jampacked with seafood joints and family-friendly entertainment to optimize rental income? Or do you opt for a quieter, lower-profile, cheaper vibe? “Buyers should consider how will they personally use the house,” says eXp Realty broker and vacation home expert Holly Mabery, based in Sedona, AZ. “Is it for their family or rental income? How will they use the lake? What kinds of activities do they enjoy? Is the property and lake accessible year-round? “Second homes and vacation homes are extremely personal. What do they love to do?” To come up with our ranking,* we looked at realtor.com listings that mentioned phrases such as “lake view” and “lake house” in more than 900 U.S. metropolitan and micropolitan areas. Each had to have at least 50 listings over a 12-month period; each had 150,000 households or less and median home prices under $450,000. Finally, we measured the percentage of vacation homes and of dining, drinking, and outdoor activity establishments. Because at some point you need to get out of the water. Right? So where can you score an affordable waterfront oasis you can call your own? Let’s dive in! 1.Branson, MOMedian home list price: $205,900** News flash: Branson is more than just Silver Dollar City theme park, the Dolly Parton’s Stampede (um, Goggle it), and live country music. No this Midwestern vacation mecca also has lots and lots of lakes. There’s popular Table Rock Lake and all of its 43,000 acres practically begging for boaters, paddleboarders, and water skiers. And Lake Taneycomo is a top pick for trout fishers thanks to its clean, cool waters. Vacationers can pick up single-family homes right on Table Rock Lake for anywhere from about $350,000 to more than $600,000, says local real estate agent Lacey Sanders of Keller Williams Tri-Lakes. This log-style, six-bedroom, three-bathroom home on the lake with a wrap-around deck is going for $345,500. Buyers on a budget can get a fixer-upper on the water for about $175,000, she says. Or they can look at one-bedroom condos on Lake Taneycomo, a quieter, less-traveled locale, that run around $120,000. Many of Sanders’ clients are boomers purchasing summer homes that will turn into their future retirement homes. “A lot [of buyers here] are people gearing toward retirement,” she adds. 2. East Stroudsburg, PAMedian home list price: $187,000 East Stroudsburg is nestled in the Poconos, long a popular vacation destination for folks hoping to escape New York City and Philadelphia. The region, in Eastern Pennsylvania between the struggling Rust Belt cities of Allentown and Scranton, is treasured for its many lakes, ski resorts, quaint, historic towns, and water parks, as well as its chill “Dirty Dancing” vibe (even if that movie classic actually took place in the Catskills). The area’s real estate market got a boost in 2012 after Hurricane Sandy devastated parts of New York City and the Jersey shore. More folks felt safer buying a vacation home on a lake in the Poconos than on the ocean, says local real estate agent Jennifer Ace of Re/Max of the Poconos. Many buyers are purchasing homes they can both vacation in and rent out on sites such as Airbnb when they’re not using the property. “They can make a good profit here,” says Ace. Despite the area’s low price tag, the best locations aren’t exactly cheap. Lakefront homes typically run between $900,000 and $1.4 million, says Ace. But buyers can get a smaller, single-family home in a lake community like Lake Naomi or Timber Trails in the town of Pocono Pines starting at around $120,000. There are also plenty of condos and townhomes on Pinecrest Lake, best known for its campgrounds. 3. Port Clinton, OHMedian home list price: $259,900 Northern Ohio probably isn’t on most vacationers’ bucket lists. But maybe Port Clinton should be. Situated on a peninsula jutting into the western edge of Lake Erie, one of the Great Lakes, Port Clinton is a charming, small town filled with quiet bays, lovely beaches, and nearby islands just begging to be explored. The town, between Cleveland and Toledo, is aimed at tourists with a plethora of entertainment. There’s the African Safari Wildlife Park, a 100-acre, drive-through park with bison, giraffes, and zebras (oh my). Townies and vacationers alike dig browsing the locally owned antiques stores or cracking open a 2-pound lobster at one of the many waterfront eateries. Unlike many of the other towns on our list, there are plenty of affordably priced condos, some right on the lake. This furnished, one-bedroom, one-bathroom condo with a community pool is on the market for $149,995. Those looking for three-bedroom, three-bathroom, single-family houses can snag them right on the water starting in the low $300,000s. There’s no shortage of true showstoppers, too, like this four-bedroom, 4.5-bathroom beauty with both lake and bay views and a two-story fireplace for $1,495,000. 4. Jamestown, NY (Chautauqua County)Median home list price: $59,900 Jamestown, an upstate town about an hour and a half southwest of Buffalo, near Lake Erie, is known for its beautiful lakes, its too-good-to-be-true low home prices—and its comedy. Wait, what? True enough. This hometown of grande dame Lucille Ball hosts the National Comedy Center, an interactive humor museum, and throws the annual Lucille Ball Comedy Festival each August. Past big-name performers include Jerry Seinfeld, Amy Schumer, and Jay Leno. OK, back to the lakes. Jamestown sits on the tip of the 17-mile Lake Chautauqua; it’s also close to Lake Eerie, one of the Finger Lakes, and several smaller bodies of water. All are quite beautiful. “The lakes are the largest tourism draws to the region,” says Megan Arnone, spokeswoman for the Chautauqua County Visitors Bureau. They’re “recognized destinations for fishing, boating, and great swimming beaches.” Those who’d like to stay year-round can score great real estate bargains with the area’s many older, single-family homes. This two-bedroom, two-bathroom house may not look like much from the outside—but it comes with 110 feet of private shoreline, all for $290,000. There are also plenty of homes on Chadakoin River, such as this two-bedroom, one-bathroom house for $219,000. 5. Alexandria, MNMedian home list price: $288,900 It wouldn’t be a lake town list without Minnesota—aka the Land of 10,000 Lakes, even though that number is actually closer to 12,000. There are about 300 lakes alone in Douglas County, where the summer resort town of Alexandria is located. The town itself is flanked on several sides by water—meaning there’s no shortage of lakefront homes for sale. The town is also big on personality. At the end of Broadway stands a 28-foot-tall Viking emblazoned with “Alexandria, Birthplace of America.” It’s referring to the (hotly contested) state legend that Vikings came to the area in 1362—more than a century before explorer Christopher Columbus arrived in the Americas. The historic downtown, done up in old Western style, is filled with antiques stores and cafes. There’s good hiking in nearby Lake Carlos State Park, and even a local NASCAR track, the Viking Speedway. While the waterfront housing stock is predominantly single-family homes, there’s also an assortment of townhomes and condos available for reasonable prices. Bargain hunters who don’t mind cramped quarters can pick up this 440-square-foot house on Lake Andrew for $111,900. 6. Clearlake, CAMedian home list price: $219,900 Surprised to see exorbitantly expensive California make it onto our list? Well, the town of Clearlake has had its struggles, which have driven prices way down. But it seems to be finally rebounding. About an hour and a half north of the Napa Valley, Clearlake was once a popular San Francisco Bay Area waterfront getaway. And while there are still wineries as well as a lakefront casino and resort, the area was smacked hard by the foreclosure crisis of a decade ago and then ravaged by wildfires over the past few years. “When we say ‘Clearlake,’ people around here remember childhood experiences camping and vacationing on the lake,” says real estate broker Yvette Sloan of NextHome Yvette Sloan, in nearby Middletown. Now, as more folks are priced out of the Bay Area, they’re taking another look at the place—some even as a primary home option. And that’s helping to turn the area around. “It’s coming back,” Sloan says. The average price in Clearwater is a fraction of the $899,400 median metro price in Napa and $950,000 in San Francisco, according to realtor.com data. Signs of revival aren’t hard to find.The Konocti Harbor Resort, which closed in 2009, has plans to reopen. But the freshwater Clear Lake—which some believe is the oldest in North America—is still the big draw. 7. Spirit Lake, IAMedian home list price: $315,000 It’s a lake lover’s paradise. The tourist towns of Spirit Lake and neighboring Okoboji come alive when summer hits. There are gorgeous lakes just about as far as the eye can see—and all of the attractions that come along with them. “We call this the Iowa Great Lakes,” says local real estate broker Amy Maris of Okoboji Realty. Her clients come from cities across the greater Midwest. “In the middle of all these cornfields, we have these beautiful lakes.” West Okoboji Lake is where you’ll find multimillion-dollar, three- and four-bedroom homes and grand estates and plenty of things going on. This four-bedroom brick house with a convenient boat garage with steps leading down to the water is listed at $1,950,000. But there are plenty of bargains to be had, especially near East Okoboji Lake. (Newer, three-bedroom, two-bathroom condos with all of the amenities, are going for under $300,000.) Those looking for a more peaceful home can opt for Spirit Lake or one of the other nearby, smaller lakes. Older, waterfront, single-family homes start at a measly $100,000 here, the lowest on our list. 8. Mountain Home, ARMedian home list price: $174,900 Looking for some true lakeside serenity—not a NASCAR track in sight? This town in the Ozarks near the Missouri border offers it up in abundance. Quiet, that is. “Mountain Home doesn’t have all the entertainment, shows, and theme parks,” says local real estate broker Joey Peglar, of the Peglar Real Estate Group. “It’s a very peaceful, tranquil area.” The real excitement here is found on the water, especially the bass fishing, swimming, boating, and scuba diving in Lake Norfolk and Bull Shoals Lake, two vast, human-made bodies of water. There’s plenty of camping, too. Those who appreciate the slower pace can find roughly 1,700-square-feet, two-bedroom cabins overlooking a lake or river from a wall of windows for about $200,000, says Peglar. Larger, waterfront houses can be had for under $300,000. 9. Baraboo, WIMedian home list price: $189,900 The Ringling Bros. and Barnum & Bailey Circus may have shut down for good in 2017, but those with fond memories of clown cars and strange elephant tricks can still head to Baraboo. The Ringling brothers grew up in the town, and their name is still very much a part of the south-central Wisconsin town’s lifeblood, emblazoned on street signs and murals. Those who really need to get their big top fix can make a pilgrimage to Circus World, a museum devoted to carnival history. What’s that you say? You’re terrified of clown noses? Ditch the museum and head to the 9,000-acre Devil’s Lake State Park just outside of town. It boasts a lake formed by glaciers and stunning, natural rock formations—a magnet for rock climbers at all skill levels. But folks seeking a waterfront property may have to settle for a river instead. While Lake Wisconsin stretches about 720 acres, the city derives its name from the Baraboo River, and there are good deals to be had near its banks. Single-family homes by Lake Wisconsin and the Wisconsin River run from $200,000 for a modest, two-bedroom, one-bath cottage to $3.6 million for a grand, seven-bedroom, 5.5-bathroom estate with spectacular water views. 10. Sandpoint, IDMedian home list price: $429,00 Let’s just get this out of the way: Sandpoint is the most expensive town on our list. But it’s as much of a destination spot in winter as it is in warmer months. The artsy community framed by mountains (about 90 minutes southwest of Spokane, WA) is catnip for skiers, who can who head to the Schweitzer Mountain Resort when the powder starts to pile up. In the summer, though, crystal-clear Lake Pend Oreille and its white, sandy beaches are the main attraction. There are wineries, breweries, restaurants, and a music festival every August. And yet it’s not a bustling place to be. “It is a small town,” says local real estate Chris Chambers of Tomlinson Sotheby’s International Realty. About two-thirds of his clients are second-home buyers from Seattle and Northern California. “You go to one of the two grocery stores in town, and you’ll bump into someone you know.” Because much of the 111 miles of lake shoreline are taken up by national forests, there aren’t a huge number of lakefront homes, which pushes up prices. Those looking to save a few bucks can head west of town, toward the Washington state border, and get a house on the Priest River for about $600,000—or significantly less. Or they can settle for a nice home on 5 acres with lakefront views for $600,000 to $700,000. * Data is from realtor.com, U.S. Census Bureau, and Yelp. ** Prices are as of June 1. The post Top 10 Affordable Lake Towns, 2019: Splashy Waterfront Retreats for Cheap! appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/top-10-affordable-lake-towns-of-2019-splashy-retreats-for-cheap/ Frank Lloyd Wright has built many homes, but a theater? Apparently so: Meet the Avery Coonley Playhouse, which is now for sale in Riverside, IL, for a mere $750,000. In fact, “schoolhouse” is a more apt description, since it was originally built in 1912 to be an elementary school that included an auditorium and stage for theatrical performances. In 1917, the playhouse was converted to a private residence. In 1980, the home’s current owners paid a mere $260,000 for it, then spent decades renovating and restoring it. Last summer, the owners put it up for sale for $800,000. Yet they took it off the market after a few months, and put even more work into it. Currently, the home boasts 3,503 square feet of living space, with two bedrooms and two adjacent bathrooms that have been completely updated with marble countertops and newer fixtures. “The current owners mostly worked on the bedrooms and made them ready to move into,” says Compass listing agent Mike McCurry. “Also, there was an area that had previously been used for storage, and now they made that into a family room.” McCurry says the sellers are hoping that with the latest improvements, “the next curators of the home will find it irresistible.” So what’s ‘irresistible’ about this Frank Lloyd Wright home?Thankfully, in spite of these many renovations, the historic stage and auditorium remain intact, and now serve as a grand living room with a fireplace. Among the home’s most arresting features are Wright’s signature leaded-glass windows, which ring the auditorium. Their design might look familiar—it’s been featured on everything from coasters to floor mats. According to historical sources, they were inspired by a parade with balloons, confetti, and flags, and were called a “kinder-symphony” by the architect. They’re reported to be the first introduction of circles into his designs. However, most of the examples seen in this home are replicas. McCurry reports that previous owners had removed many of the windows and sold them all over the world, for prices up to $250,000 each. Some of the originals can be seen in museums. While a few of the original windows remain in the house, the current owners were allowed to commission museum-quality reproductions for their historic home. And honestly, could you spot the fakes in the photos below? Didn’t think so. The one room that still needs updatesYet in spite of all of the work that’s gone into keeping this home up with the times, there’s still one room that cries out for a makeover: the kitchen. “It still has a lot of the original elements—they once used it for teaching culinary arts,” McCurry says. Some of the original cabinetry is there, too. It does have modern conveniences, including a Viking stove, dishwasher, and even a soda fountain, but there’s still room for improvement. “We expect future owners will want to renovate that, and have left that on the table,” McCurry says. You might wonder why, after spending so many years renovating their cherished home, the owners are parting with it at this point in time. “They’ve done everything they ever conceived of doing,” explains McCurry. “Now that they’re retired, they’re ready to retire from curatorship of the home. They’ve priced it at a point they hope will encourage the next curators, who truly appreciate its architectural style, to come in and take over.” If recent sales of local Wright homes are any indication, those future owners could well be right around the corner. The playhouse was built on the same grounds as the much larger, 6,000-square-foot Avery Coonley house, which finally sold in February for $1,150,000. It had been on and off the market for almost 10 years, after being listed for $2,890,000 in 2010. Who knows? Maybe lightning will strike twice in the same place, in the same year, and sell this Wright home, too. The post A Fascinating Peek Inside Frank Lloyd Wright’s ‘Playhouse’: Can You Spot What’s Fake? appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/frank-lloyd-wright-playhouse-for-sale/ |
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April 2021
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