San Antonio Spurs coach Gregg Popovich is a noted wine connoisseur. He’s co-owner of Oregon’s A to Z Wineworks, and has a personal collection of more than 3,000 bottles. Naturally, the basketball-loving oenophile built a wine cellar to match his tastes—600 square feet and constructed with reclaimed Jerusalem stone, it is a temperature-controlled shrine to wine. The listing calls it “an avid wine enthusiast’s dream cellar.” Earlier this month, Popovich listed the wine cellar, and the 8,700-square-foot mansion attached to it, for $4.5 million. Located about a half-hour north of AT&T Center in San Antonio, the four-bedroom, six-bathroom home is big in every way. The foyer and living room both have two-story ceilings. The living room has a bank of large picture windows looking out on the backyard and pool. The room has an open balcony, and is bookended by a fireplace and media center. The chef’s kitchen is luxurious but practical, with an island, stainless-steel appliances, and tiled backsplash. Listing photos show Popovich turned the kitchen’s breakfast nook into a sitting area. Upstairs, there’s a large entertainment room with a pool table and wet bar, surrounded by framed photographs and newspaper clippings from Popovich’s 22-year career as the team’s head coach. Similar memorabilia adorn the home gym. The master bedroom has an octagonal tray ceiling, and the master bathroom features separate vanities and a stand-alone tub. Elsewhere, there’s an elevator, wraparound balcony, barbecue, and infinity pool. The 2.6-acre property is located in a gated community. Popovich, 69, took over as head coach of the Spurs in 1996, pulling the team out of a four-year slump that threatened to tank the young franchise. He’s the only coach to bring the team to the NBA Finals, in 1999, 2003, 2005, 2007, 2013, and 2014—taking home the trophy five out of six times. Popovich’s wife, Erin, died in April at the age of 67. She’s also survived by their two children and two grandchildren. The post Spurs Head Coach Gregg Popovich Selling a ‘Dream’ Wine Cellar Along With Mansion appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/gregg-popovich-selling-mansion/
0 Comments
Chrissy Teigen can now add “designer” to her extensive résumé. The former model and “Lip Sync Battle” star’s latest project (other than breaking the Internet with her tweets) is called Cravings, a kitchen and tableware collection that will be sold exclusively at Target in collaboration with her newly released cookbook, “Cravings: Hungry for More.” You can already see all 42 items in the collection online, but you can’t officially shop the goods until Sept. 30. The line features everything Teigen uses in her own kitchen, from colorful prep tools to vintage serving dishes, all for a budget-friendly price. Curious if these items were up to snuff, we asked interior decor experts to weigh in on Teigen’s collection—and they went nuts. “Chrissy did a fantastic job of creating everyday elegance aligned with current design trends and colors,” says Jenny Hester, a home designer with Jenny Leigh Design. Consider this a sneak peek of the new goods that will sell out fast. 1. Enameled Dutch ovenThe design experts we talked to agreed that Teigen’s cast-iron, enameled Dutch oven ($49.99, target.com) will fly off the shelves. It’s made to withstand all kitchen activities, from stovetop cooking to serving. Plus, the shades of blue and touch of brass are a great accent. “The champagne gold detail visually warms up the chrome,” says Dana Mitchell of Dana Mitchell Interiors in Scarsdale, NY. “The biggest appeal to me is that it’s safe for ceramic induction cooktop stoves,” says Lyndsey Dee, an interior design expert at Sunday Home. “There shouldn’t be a worry about scratching the stove’s surface.” Interior designer Jill Shobe agrees. “This enameled Dutch oven is a fantastic value,” says the owner of Jill Shobe Interiors in Ramsey, NJ. 2. Wood salad serving setDetails matter in your kitchen decor, and home designer Christina Giaquinto recommends adding this two-piece wood salad serving set ($9.99, target.com) to your utensil collection. “This wood salad serving set has an elegant touch of champagne gold that blends beautifully with the wood base,” she says. “It’s one of those designs that turns something ordinary into something worth discussing.” 3. Tidbit bowls with wood trayNicola Croughan would put these tidbit bowls ($24.99, target.com) on display in her own home—especially when sharing snacks with guests. “This set has a real artisanal feel with its soft neutral tones, which evoke a feeling of home and comfort,” the interior designer notes. Hester is also obsessed with this bowl and tray combo and suggests using it to upgrade your holiday decorations. “With the flexibility to be used together or individually, you have options and multiple uses,” she says. “The colors are not only perfect for everyday use year-round, but will easily coordinate with and complement almost any holiday décor.” 4. White stoneware collectionLooking to add a simple touch to your kitchen? Nothing does the trick better than an all-white stoneware serving set ($4.99 to $19.99, target.com). Teigen’s collection includes bowls, mugs, plates, and a pitcher, and Giaquinto loves the textured, vintage look. White gives a kitchen a cozy feel,” she adds. “This set helps bring that feeling to life.” Tina Ramchandani, an interior designer from Tina Ramchandani Creative in New York City, also thinks this serving set is a steal. “A beautiful, affordable, white earthenware set like this is so hard to find,” she says. 5. Serrated Santoku knifeTeigen calls this particular knife her go-to, and our design experts can see why. The serrated Santoku knife ($14.99, target.com) is extremely versatile, according to Michaeline Fernandez, an interior designer in Denville, NJ. “I love that it serves double duty as a tomato slicer, which are the hardest things ever to cut properly,” she says. ” Dee adds that the knife’s serrated edge is useful for cutting bread as well as meat. “This sounds like it will be the Cadillac of knives and the answer to kitchen prayers,” she says. 6. Stainless-steel wokThe champagne gold finish on this stainless-steel wok ($59.99, target.com) adds a note of luxury to the kitchen, says Giaquinto. “It’s the perfect mix of colors to create an elegant kitchenware product.” And the cherry on top? The wok is part of Teigen’s stainless-steel cookware collection, which also includes matching sauce and sauté pans. Amberlee Isabella, a retail designer at Amberlee Isabella Home, predicts that millennial shoppers will add these pieces to their shopping carts ASAP. “It not only looks amazing but is corrosion- and wear-resistant,” she says. The post Chrissy Teigen’s Favorite Cookware, Revealed: 6 Items to Grab Now appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/chrissy-teigen-cookware-target-collection/ WASHINGTON—The number of U.S. existing homes going under contract declined in August for the fourth time in five months, reflecting what appears to be a broader slowdown in the housing market. The National Association of Realtors on Thursday said its pending home-sales index, which tracks contract signings for purchases of previously owned homes, fell 1.8% from the prior month to 104.2 in August. Sales, unless they fall through, typically close within a month or two of signing. Economists surveyed by The Wall Street Journal had expected a 0.4% decline in August. The index was down 2.3% in August from a year earlier. “With prices having risen so quickly, many consumers were deciding to wait to list their homes hoping to see additional price and equity gains,“ said Lawrence Yun, the trade group’s chief economist. ”However, with indications that buyers are beginning to pull out, price gains are going to decelerate and potential sellers are considering that now is a good time to list and bring more properties to the market.” More widely, housing-market inventory has been tight, driving up home prices and pricing some potential buyers out of the market. At the same time, skilled construction labor shortages, higher input costs and rising mortgage rates are also making the overall cost of buying a home more expensive. Sales of previously owned homes stalled in August, highlighting a growing disconnect between the sluggish housing market and robust economic growth. News Corp, owner of The Wall Street Journal, also operates realtor.com® under license from the National Association of Realtors®. The post U.S. Pending Home Sales Fell 1.8% in August appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/u-s-pending-home-sales-fell-1-8-august/ Rates for home loans jumped along with yields in the broader bond market, taking financing costs to a recent high and raising fresh questions about the effect of another headwind on a housing market that’s already sputtering. The 30-year fixed-rate mortgage averaged 4.72% in the September 27 week, up from 4.65%, mortgage liquidity provider Freddie Mac said Thursday. That marked the fifth straight weekly gain for the benchmark product, and took it to its highest point since April, 2011. Mortgage rates track the U.S. 10-year Treasury note, which powered higher over the past week as investors braced for the Federal Reserve to raise short-term interest rates for the third time this year. The past week has brought a flurry of housing data, none of it rosy. In August, sales of existing homes were flat, sales of new homes were higher but sales tallies in previous months were marked sharply down from initial estimates, and home-contract signings swooned. Economists remain optimistic that fundamentals should re-assert themselves. In a release out Thursday, Freddie’s chief economist, Sam Khater, said “consumer confidence is at an 18-year high, and job gains are holding steady. These two factors should keep demand up in coming months.” And the chief economist for the National Association of Realtors, Lawrence Yun, pointed to signs that homeowners are more ready to put their properties on the market as prices keep moderating. “As long as there is job growth, rising mortgage rates will hinder some buyers,” Yun said. “But job creation means second or third incomes being added to households which gives consumers the financial confidence to go out and make a home purchase.” But only time will tell if this soft patch re-energizes the market by evening the sharply unequal playing field a bit more in favor of buyers, or if more people decide to sit it out and rent for a while. The post Mortgage Rates Hit a Seven-and-a-Half-Year High as the Easy Money Era Comes to a Close appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/mortgage-rates-hit-seven-half-year-high-easy-money-era-comes-close/ Retired NBA star Kevin Garnett has decided to step away from his massive Malibu project. He’s listed the 7-acre property, including an unfinished 11,000-square-foot mansion, for $19.9 million. It’s a rare offering in this beach community of multimillionaires, where land near the beach—and the permits to develop it—are increasingly hard to come by. The property is on a gentle hillside above the Pacific Coast Highway and has unobstructed vistas of the ocean. Plans for the contemporary mansion devote the entire second story to a master suite, but a new owner could easily customize the space since the home is still under construction. Among the most attractive aspects of this sale is that all the plans and permits have been approved by the Coastal Commission, which is notoriously finicky. “This is a once-in-a-lifetime opportunity—7 acres consisting of three parcels, mostly flat, with existing, permitted construction,” says listing agent Eric Hassan of Hilton & Hyland. Two adjacent parcels are also available for purchase, Hassan adds. If bought together, there’s potential to develop a nearly 20-acre estate. Garnett bought the property over a decade ago. He and wife Brandi Padilla, and their two daughters, lived there, in an 8,500-square-foot home, for a few years. Then they decided to rebuild and expand their home. But life got in the way of their Malibu mansion plans. Garnett retired as a player in 2016, and became a basketball commentator and host on TNT. He also became a consultant for the Los Angeles Clippers. In July, Padilla filed for divorce. In September, the Boston Globe reported that Garnett filed a lawsuit against an accountant and his firm, alleging that they helped a wealth manager steal $77 million from him. Garnett, now 41, is among the most talented players to ever set foot on the hardwood. He played 21 seasons in the NBA for the Minnesota Timberwolves, Boston Celtics, and Brooklyn Nets. He earned an Olympic gold with Team USA in 2000 and won an NBA championship with the Celtics in 2008. The post Kevin Garnett Opts Out of Massive Malibu Project Before Final Buzzer Sounds appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/kevin-garnett-malibu-property-sale/ Goodbye, golf courses. Hello, housing? Nationally, builders running out of land in desirable locations to put up new homes are finding it in an unlikely place: “dead” golf courses. Golf has been falling out of favor for years, plunging from 30.6 million regular golfers in 2003 to 23.8 million in 2017, according to the National Golf Foundation, a trade group. Aging baby boomers are dropping the sport en masse, and many millennials never acquired the fairway obsession in the first place. Generation Z? Forget it. The steep drop-off has led to more than 200 of the nation’s roughly 14,000 golf courses closing in 2017 alone, according to the NGF. In the same year, only about 15 new ones were opened. But the golf industry’s misfortune has opened up a lot more property to put up homes in crowded cities and the pricey suburbs surrounding them. And builders are eager to tee off. There’s no data currently available on how many of these courses have been transformed into residential communities. But with the typical 18-hole course clocking in at 150 acres, the decline in the leisurely sport/activity could be a major boon for housing in some built-out areas. “It’s an opportunity for builders to build closer in [to city centers and other more congested areas] and offer new-build homes in areas that are dominated by older homes,” says Lesley Deutch, principal at John Burns Real Estate Consulting. “Usually [they] have to build out in the suburbs. In South Florida, there’s very little land left, so golf courses provide a good opportunity.” In some parts of the country, particularly in and around many ultraexpensive cities, land is hard to come by. Giving those lush greens a new life as residential or mixed-use communities of homes and shopping may help to alleviate the crunch. “In a market where developable lots are scarce, a large footprint like a golf course presents a major development opportunity,” says Robert Dietz, chief economist of the National Association of Home Builders. Some builders are scoring a perfect strokeIt should come as no surprise that most golf courses are in America’s retirement mecca of Florida. (The state is home to about 1,150.) And that’s where many of the golf-to-housing transformations are taking place. Florida developer 13th Floor Homes hit a hole-in-one when it turned a shuttered golf course in Tamarac into two residential developments with 429 single-family homes starting in the high $200,000s. The first one, Central Parc, sold out its inventory in 2016—less than two years after the homes hit the market. Later that year, construction began on Manor Parc, across the road. Part of their success was a seductive combo of attractive price and primo setting—the developments are about a half-hour inland from Fort Lauderdale. “It was a great example of offering affordable homes in a convenient location,” observes Deutch. Experts predict that more of the nation’s greens will see a similar trajectory. For example, the Star Tribune in Minneapolis reported last year that more than 900 acres of golf courses had been redeveloped in that city’s metro area between 2010 and 2016, much of it into homes. But some former golf courses are going through a different type of transformation. The former Highlands Golf Course in western Michigan was turned into a natural area last year, with tall grass, walking trails, and wildlife, after that 100-year-old golf course closed. Turning dead golf courses into housing developments isn’t always easyJust because an empty golf course goes on the market, it doesn’t mean that homes can be built on it effortlessly—in fact, there are sometimes daunting challenges. Golf courses often use pesticides to keep their fairways green, so those chemicals need to be cleaned up, which can be costly. And the oft-convoluted landscaping generally needs to be completely rethought and redesigned. Builders and developers also need to secure city zoning approvals to convert the space into residential housing. Many are also confronted with the not-in-my-backyard attitudes from neighbors who don’t want that beautiful, soothing green fairway they pass on their way to work each morning suddenly converted into housing bringing in hordes of new neighbors. “People bought houses with the idea that they’re going to have golf course views forever,” says Laurence Hirsh, president of Golf Property Analysts, a consulting, brokerage, and appraisal business based in Conshohocken, PA. (He’s also a member of the Counselors of Real Estate, an invitation-only group of real estate experts.) And an influx of new homes means an influx of new residents who strain crowded roads, school systems, and other city services. “People don’t like change,” says Ed McMahon, a senior resident fellow at the Urban Land Institute, a Washington, DC–based real estate research and education group. “Green space has a psychological value, not just a practical value. Any loss of green space gets some people upset.” In Jacksonville, FL, a housing development on the former Bay Meadows golf course was nixed after neighborhood associations decried a plan to put single-family homes and condo buildings on the site. Plans are now underway to turn the former golf course into a mixed-use development, with retail and office space as well as a hotel. But whether the locals like it or not, more courses across the U.S. are calling it quits, freeing up tens of thousands of acres of hard-to-come-by land in prime locations. And the new normal is that they’ll be developed, says McMahon. “You’re going to see more of this … because we need the housing.” The post Builders Hit Hole-in-One: Dead Golf Courses Become Sites for New Housing appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/developers-hit-a-hole-in-one-as-golf-interest-dwindles/ Longtime David Bowie collaborator Gerry Leonard is selling his one-of-a-kind home in upstate New York—a historic train station that’s hosted countless musicians over the past 17 years. The two-bedroom, one-bath home in the woods is listed for $650,000. Leonard and his wife, singer and songwriter Pamela Sue Mann, bought the Alligerville Train Station in High Falls in 2001. Then they spent a few years turning it into the ultimate home recording studio. There are recording plug-ins in every room, and they all funnel down to the recording studio located in the train station’s former freight room. Speakers in the kitchen allowed Leonard and his musician friends to play back the tracks they recorded earlier in the day. Bowie, who owned a 64-acre property in the nearby town of Woodstock, wrote two songs from his 2013 album, “The Next Day,” at the house. MGMT recorded their second album there. Musicians Duncan Sheik, Suzanne Vega, Kevin Killen, Donna Lewis, and dozens more have either written songs or recorded tracks at the house. Beyond the famous owners and their celebrity guests, the residence is just as interesting on its own. Built in 1902 by the O&W Railroad, the train station was one stop on a picturesque rail line that ran across upstate New York. But the company struggled to turn a profit, and shut down for good in 1957. Today, the surviving O&W train stations have largely been converted into private homes. In the Hudson Valley, portions of the original rail line were turned into a “rail trail,” a recreational path. It runs past Leonard’s house and eventually connects with the biggest city in the county, Kingston, with a population of 23,000. Just inside the entrance, there’s what appears to be the station’s original ticketing window, which now connects the living room and kitchen. Leonard and his wife added an old-fashioned bell, like the one that may have summoned the station agent decades before. A wood-burning stove in the living room keeps the house warm in the winter. The kitchen has an industrial-style Viking range, stainless-steel appliances, and a farmhouse sink. The table (where Bowie once wrote music!) is tucked in a corner, complete with built-in bench seating. One room of the house is packed to the ceiling with instruments. There are guitars, banjos, a harp, piano, electric keyboard, amps, and microphones. The recording studio is similarly filled with instruments, microphones, and high-end equipment. The couple have indicated they’re willing to sell most of the equipment to the next buyer, listing agent Deborah Medenbach says. Leonard is a talented guitarist who’s recorded under the pseudonym Spooky Ghost. His work with Bowie stretched back decades, and he often toured and played live shows with the legendary musician, who died in 2016. The post Legendary Rock Producer Lists His Converted Train Station in the Woods appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/rock-producer-converted-train-station-woods/ When you’re looking for the new hot spots, you want to follow the young people. And true to form, millennials are leading the charge in the American neighborhoods that are seeing the most real-estate action this year. Here at realtor.com®, we regularly report on the hottest markets for buyers and sellers. And once a year, we zoom in even further, to focus on the neighborhoods where homes are flying off the market and listing views get constant clicks. That’s how we arrive at our list of the hottest ZIP codes in America. So what’s hot? Suburbs. In ever-increasing numbers, millennials are fleeing downtown and heading for the nearby towns, especially around Silicon Valley and throughout the Midwest and East Coast. That youth wave is driving a nearly 10% increase in how fast homes are selling in those areas. It turns out the classic selling points of the burbs—more space, good schools—grow more appealing as young people start families and their priorities shift. “The higher-earning millennials in particular feel increasingly confident,” says Jason Dorsey, president of the Austin, TX–based Center for Generational Kinetics, pointing out that those who weathered the Great Recession are generally now in a good place in their careers. Sure, they may have student debt, but it’s more likely to be under control. So they’re ready to invest in a home. “When it comes to choosing a home of their own, millennials are looking for opportunity and they’re finding it in affordable suburbs,” said Danielle Hale, chief economist for realtor.com, in a statement. The homes in the top markets on our list are relatively affordable, with a median price of $358,000—typically, more affordable than in their surrounding area. That makes them a good choice for starter homes. So where are these hot hoods? Read on to find out. (You can also see the full list of 50.) 1. 49508: Kentwood, MIMedian listing price: $193,168 This area is known for its tree-lined streets, close-knit community, and quick commute to Grand Rapids, which we’ve previously identified as an up-and-coming urban powerhouse. It’s also just 30 miles from beautiful Lake Michigan, for those weekend getaways. But above all, affordability is the key draw for Kentwood, says Trisha Cornelius, a real estate agent with Keller Williams Realty in Grand Rapids. “Kentwood is where you go if you want a dog and a yard,” she says. This ZIP code, in particular, is known for its strong schools, which attract families. She’s also seen graduates and retirees moving in. “It wasn’t always this way in Kentwood,” Cornelius says. “At one time there was an overwhelming number of condos and apartments. Kentwood was more of a transitional neighborhood you live in before moving on to something better. But not anymore. It’s really grown and is a stable place to live.” 2. 80922: Colorado Springs, COMedian listing price: $297,811 A haven for nature lovers, Colorado Springs sits on the eastern edge of the Rocky Mountains and boasts gorgeous views and sunny weather. Denver is just 70 miles away, but Colorado Springs’ economy is doing just fine on its own, with tech startups and the Air Force Academy and UC Memorial Hospital North in the vicinity. (We had already predicted the city to be one of the hottest markets of 2018, late last year.) “People are choosing Colorado Springs over Boulder and Denver because those cities are really, really expensive,” says Susanna Haynie, broker and owner of Colorado Real Estate Group in Colorado Springs. “The east side [where ZIP code 80922 is located] is where the families are moving in,” Haynie adds. “That’s where you can get a bang for your buck and all the amenities a family would want: pools, big backyards, you name it.” But the secret is definitely out—it’s a seller’s market, with a major shortage of homes for sale and rent. “There’s a high buyer demand, and this is going to have a huge effect over the next 12 months,” Haynie says. 3. 76148: Watauga, TXMedian listing price: $183,576 Over the past few years we’ve become familiar with the charms of Watauga, the Fort Worth suburb that topped our hottest ZIPs in 2017 and 2016. It slipped a couple of spots this year, but it’s still going strong. The small town may not be exciting, but with easy access to jobs, shopping, and entertainment in Fort Worth, Watauga appeals to young families who are looking for more space and top-notch schools. “You can get a great house at an incredible value and get more for your money,” says Megan Phelps, a real estate agent with Re/Max Heritage in Fort Worth. “Location and price are what’s driving growth.” Buyers in Watauga are primarily millennials—they make up 33% of new purchase mortgages in this ZIP code. They also have a 65% homeownership rate here. 4. 94546: Castro Valley, CAMedian listing price: $784,238 The San Francisco Bay Area real estate market is ultrahot—some would say overheated—but quiet Castro Valley offers a pocket of relative affordability, with homes that cost 5% less than in the rest of the country and 17% less than in the broader metro area. Affordability, an excellent school system, and easy rail access to San Francisco, Oakland, and Berkeley make this area especially appealing to young professionals. So it’s no wonder that millennials make up 38% of new purchase mortgages in this ZIP code, although the dominant age group among buyers remains a little older, at 35 to 44. 5. 01960: Peabody, MAMedian listing price: $424,685 Settled in 1626 by a small group of English colonists, Peabody, just 15 miles northeast of Boston, has a rich history. Formerly a major center of New England’s leather industry, it now has Analogic Corp. and Tradewin Consulting Services as its biggest employers. The small but vibrant community boasts top-rated schools. Although 35- to 44-year-olds obtain the majority of purchase mortgages in this ZIP code, millennials have 32%. And with a median household income of $73,312, millennials here earn more than the typical household. ——-- Rounding out the top 10 are: 10. 07043: Upper Montclair, NJ Allison Underhill contributed to this report. The post Digits of Destiny: The Hottest ZIP Codes in America for 2018 appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/hottest-zip-codes-america-2018/ Tennis great Serena Williams is serving up a price cut on her Bel Air estate. The mansion in the Stone Canyon area of Los Angeles initially landed on the market about a year ago for $12 million. It’s now listed for $10 million. Will this price cut give Williams the sales advantage? Let’s take a tour and see what the home offers (no tennis court, alas). According to the listing, the baby blue–hued mansion on 2.76 acres is “one of the largest lots on Stone Canyon.” The private, parklike estate includes a mix of updates along with plenty of original charm. It features a semicircular living room, white marble flooring, and glass doors leading out to the gardens. There’s a formal dining room with black and white tiles, an updated kitchen with breakfast room, six bedrooms, six baths, a wood-paneled den, and, naturally, a beauty salon. The master suite comes with a dressing room and a marble bath. Outside there’s a loggia and pool, and the landscaped grounds are filled with trails. It sounds like a grand slam to us. So why has the mansion been on the market for nearly a year? One local agent suggested taking a cue from “Fixer Upper.” “The grounds are fantastic,” says Marshall Peck of Douglas Elliman. “But there are many homes for sale on Stone Canyon. To move the sale, I’d put in beautiful, wide-plank wood floors on the main floor, which is a preference to most buyers of this style of home.” Flooring options aside, the price cut will have to suffice for now. Potential buyers could buy the discounted (yet gorgeous!) mansion as is and add their own tasteful upgrades. Shiplap completely optional. Beverly Hills–based agent Connie Blankenship of Douglas Elliman says the home’s original price may have put off potential buyers. “We’ve been in a seller’s market over the past few years,” she says. “On a micro level, nothing will affect the marketability of a particular property more than the initial price offering. I’ve found that the market will always dictate the true value of a property, and it’s better to be on the right side of valuation from Day 1. It’s always good practice to set the initial price as close to where comps prove it should eventually sell.” The tennis legend purchased the 6,100-square-foot home in 2006 for $6,612,000. So even with the recent price cut, Williams stands to come out a winner. Right before the Bel Air home first came to market, Williams purchased a brand-new Beverly Hills mansion with her husband, Reddit co-founder Alexis Ohanian. It was an eventful year as the couple welcomed a child last fall, Alexis Olympia Ohanian Jr. The couple also own a pied-à-terre in Paris and a large home in Palm Beach Gardens, FL. The post Serena Williams Slices Price on Bel Air Mansion—So What Happened? appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/serena-williams-slices-price-bel-air/ U.S. Sen. Elizabeth Warren is attempting to put the increasingly expensive housing market into reach for more Americans. To do that, the Massachusetts Democrat is slated to introduce a roughly $476 billion housing bill in the Senate on Wednesday. It’s unlikely that the bill, focused on creating more affordable housing for low-income and middle-class Americans, would be passed by a Republican-controlled Congress. But the political landscape could change if the midterm elections in November usher in a blue wave of elected officials. Plus, the legislation gives a boost to the national profile of Warren, a liberal favorite who appears to be positioning herself for a presidential run. The American Housing and Economic Mobility Act of 2018, which may be more of a wish list than a near-term reality, would provide for the construction of new homes and the rehabilitation of existing ones. It would make it easier, cheaper, and faster for builders to put up new homes by giving local governments incentives to get rid of, or ease, some of their zoning and other land use regulations. The incentives could be used for infrastructure, parks, roads, or schools—and the cost cuts to builders could make homes less expensive for buyers and renters. The legislation would also provide assistance to more marginalized groups of renters and home buyers. For example, the bill would offer more down payment assistance to predominantly low-income, minority communities where residents were historically denied mortgages due to now-illegal policies. It would invest in rural housing. And it would also expand the Fair Housing Act to make it illegal to discriminate against prospective renters and buyers based on their sexual orientation, marital status, gender identity, and occupation. “The federal government has for many years not stepped up to the extent that it’s needed to preserve and develop affordable housing,” says Edward Goetz, an urban planning professor at the University of Minnesota in Minneapolis. And while this bill isn’t likely to become law anytime soon, he believes “it’s the beginning of a longer strategy.” In addition, the bill provides $2 billion in support for homeowners who are still underwater on their mortgages a decade after the financial crash. “Housing is the biggest expense for most working families—and costs for everyone, everywhere, are skyrocketing. Rural housing is falling apart and decades of discrimination has excluded generations of black families from homeownership,” Warren said in a statement. “This proposal will attack the rising cost of housing by helping to roll back needlessly restrictive local zoning rules and taking down other barriers that keep American families from living in neighborhoods with good jobs and good schools.” It’s projected to create 3.2 million new units of housing and lower rents for lower- and middle-income tenants by 10%, according to an independent analysis by Moody’s Analytics. The unpaid analysis was commissioned by Warren’s office. The bill would be paid for by increasing the estate tax along with taxes on the 10,000 wealthiest households in America. That’s very unlikely to happen under President Donald Trump. “There is a gaping hole in the number of affordable housing units, and this helps to fill it,” says Moody’s Analytics Chief Economist Mark Zandi, who wrote the analysis of the bill. “[But] under most scenarios, I don’t see this legislation going anywhere. We have to wait for the next president, the next Congress.” “When the political window opens, [this legislation can go] through it,” Zandi says. The National Association of Home Builders lauded the bill, particularly its elimination of “unnecessary local land use rules that drive up construction costs and harm housing affordability,” said the group’s chairman, Randy Noel. But Noel is concerned that raising the estate tax to fund these changes could harm family-owned small businesses that are passed down from parents to their children. The post Sen. Elizabeth Warren’s New Legislation Aims to Make Homes More Affordable appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/sen-elizabeth-warrens-housing-plan-to-make-homes-affordable/ |
About usI am Casey Abby From USA and I am 30 Year Old. I done my study recently in MBA Marketing. Archives
April 2021
Categories |