If you’re into shades of sea foam green and mauve, boomerang tables, and “Mad Men” marathons, you already know Palm Springs is the mothership for midcentury modern housing stock. But what makes this particular home so desirable is that the same family has owned it since 1973, the year it was built. A top-to-bottom renovation of the five-bedroom abode added a few modern tweaks—but those changes remain in perfect harmony with the home’s beginnings. You’ll now find bright orange kitchen cabinets, a fire pit by the pool, and a free-standing organically shaped soaking tub (in the master bath). Avocado-green shower tile in one of the four bathrooms delightfully bridges the past and the present as well. Design features from the middle of last century still shine—including lattice exterior walls, a floor-to-ceiling stone fireplace, interior walls of glass, a circular outdoor pool (a refreshing departure from lap or kidney-shaped pools) and an open layout that’s an entertainer’s dream. Outdoor space is organized into conversational areas perfect for dining al fresco or having friends over for drinks. Furnishings currently in the home are open for negotiation, so a buyer could make a turnkey deal. In addition, the home’s infrastructure has all been recently upgraded, which means zero major maintenance in the coming years. A buyer isn’t simply paying for the luxurious interiors of the nearly 5,000-square-foot house. The surrounding Historic Tennis Club neighborhood is factored into the $3,795,000 listing price. “It’s considered the top neighborhood in Palm Springs because of the walk to downtown,” says listing agent Sandra Quinn of Sandra Quinn Real Estate Group. One block away from the white home with a double-door entrance (painted, appropriately, aqua blue) lies this desert town’s entertainment district, which includes shopping, restaurants, art galleries, and a crop of new hotels. Which includes the recently reopened Ingleside Inn next door. “That’s the old Brat Pack spot,” says Quinn. “They totally renovated the space.” The area revitalization is attracting a new crowd of travelers and homeowners far from retirement age. “All the L.A. hipster crowds are coming here,” says Quinn, adding that actor Leonardo DiCaprio snapped up the Donald Wexler-designed Dinah Shore estate for $5.2 million in 2014. What kind of person will jump at the opportunity to own this ultra-luxe midcentury modern? “It’s probably going to go to an L.A. resident and used as a vacation home,” says Quinn. Each of the five bedrooms offers privacy, something short-term dwellers desire. With winter already here, this sunny vacation getaway looks oh-so-appealing—short or long term. The post Desert Delight! Luxe Midcentury Modern in Palm Springs Gets Full Makeover appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/midcentury-modern-makeover-palm-springs/
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Much has been made of the American Dream: how homeownership can help lift hard-working folks into the country’s middle class. But that dream just isn’t worth nearly as much in minority neighborhoods. Homes in predominantly black neighborhoods are worth only about half as much as comparable properties in white neighborhoods, according to a recent report from Gallup and the Brookings Institution, a think tank. Brookings and Gallup looked at neighborhoods where at least 50% of residents were black. These were then compared with neighborhoods whose populations were less than 1% black. In black communities, homes are undervalued by an average of $48,000 per home, according to the report—and that’s comparing them with white neighborhoods that have similar amenities. That’s a significant amount, considering the median home list price is $295,000, according to the most recent realtor.com® data. “This is due to the history of racial discrimination and segregation that still lingers in cities around the country,” says Jonathan Rothwell, senior economist at Gallup. “Homeowners in those areas are missing out on equity and wealth, which they could use to improve their lives and pass money onto their children to start businesses.” Or those homeowners could use their equity to purchase larger or nicer homes, he says. This issue affects quite a few Americans. Only about 10% of neighborhoods in U.S. metropolitan areas are majority black. But 37% of black Americans live in these metros, which include cities and the suburbs and exurbs surrounding them. And while the study compares neighborhoods that are similar aside from their racial makeup, on the whole, predominantly black neighborhoods often don’t have the top public schools, libraries, parks, and other amenities of white neighborhoods. Instead, residents of majority-black communities must often deal with higher crime rates and longer commute times. These areas may also have less access to good jobs and public transit, see fewer investments in infrastructure, development and parks, and may struggle with higher unemployment rates, says Realtor® Michael LaFargue of Coldwell Banker Residential in Chicago. He primarily works in the city’s black neighborhoods. Plus, recessions can hit these communities harder. “When markets go down, home values in black neighborhoods go down faster,” he says. “And when markets go up, home values in black neighborhoods take longer to recover.” The post Racial Gap: Homes in Black Neighborhoods Are Worth This Much Less Than in White Ones appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/racial-gap-homes-black-neighborhoods-worth-much-less-white-ones/ Call it an extra point? Tennessee Titans kicker Ryan Succop has picked up a $2 million home in Nashville, his second in the area in three years. The 3,300-square-foot house, built in 1960, is relatively modest considering the price tag. But the extra yardage is the true selling point in this case—it’s nestled on 1.5 tree-lined acres in the upscale community of Forest Hills. The all-brick home, which was renovated in 1985, has three bedrooms, three bathrooms, and, of course, plenty of room outside, complete with a basketball hoop (in case Succop wants to work on his jump shot in between field goals). In 2015, Succop bought a luxe 3,400-square-foot condo in Nashville’s tony Belle Meade neighborhood for $699,900. It’s not surprising that the 32-year-old, currently considered one of the most accurate kickers in the NFL, is doubling down in Nashville. Earlier this year, Succop avoided free agency when the Titans signed him to a five-year, $20 million extension—the second-largest deal for a kicker in NFL history. Succop, who’s spent a decade in the NFL, signed with the Titans in 2014 after beginning his career with the Kansas City Chiefs. Last year, Succop set an NFL record with 56 consecutive successful field goals from inside 50 yards. The post It’s Good! Titans Kicker Ryan Succop Scores Modest $2M Home in Nashville appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/ryan-succop-buys-second-nashville-home/ Former Cleveland Cavaliers head coach Tyronn Lue is selling his lakefront mansion after being abruptly axed by the team. Located in Bay Village, OH, the luxury home is available for $4.3 million, with an additional buildable lot. If you’d just like to purchase the mansion without the lot, the price is $3.49 million. The home is officially owned by 24524 Lake Road LLC, but public records, news reports, and the framed NBA jerseys all over the home’s walls appear to link Lue to the property. We’re sure the coach appreciated his lakefront retreat after a winless start to the 2018 season, which led to his hasty departure. While he couldn’t guide the Cavs to a victory in the first six games of the season, the home he’s leaving is definitely a winner. Built in 2006, the five-bedroom mansion sits on 1.69 acres of Lake Erie waterfront. According to the listing description, the gated property offers “privacy and priceless water views.” The large layout features a chef’s kitchen with two islands, two Subzero refrigerators, a full-sized Subzero wine cooler, Miele double ovens, a built-in coffee machine, multiple sinks, and a butler’s pantry. There’s also a breakfast nook, dining area, and formal living room with vaulted ceilings and walls of glass, plus an office. The master suite includes a two-sided glass fireplace, and the eye-catching curved staircase and walls of glass on the back of the home take advantage of the lake views. Other amenities include radiant heat floors, a lower-level exercise room, a spa, home theater, and a game room with a bar. The outdoor space includes multiple patios and decks, a tennis court, a separate, enclosed sun room, and a huge grassy yard. The 41-year-old point guard from Missouri played in the NBA for 11 seasons before switching over to a suit and tie on the bench. He held the title of assistant coach for the Boston Celtics, L.A. Clippers, and Cavaliers before stepping up in 2016 to the Cavs head coach. In his rookie season as the Cavs boss, the team won the NBA title. Don’t feel too bad for Lue. He had a $35 million, five-year contract with the Cavs. And he’s not without a home, either. He’s been known to spend time in L.A. and Las Vegas, when not sitting on the shores of Lake Erie. Linda Musarra holds the listing. The post Ex-Cavaliers Coach Tyronn Lue Selling Lakefront Ohio Mansion appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/tyronn-lue-ohio-home/ Step into the time capsule with us this week as we journey back to …1952! This week’s most popular home on realtor.com® is a perfectly preserved Colorado home that hasn’t been touched in decades. The listing photos for this midcentury marvel ensured that it would be shared all over the internet by folks who love to wander back through homes of a different era. For vintage fans, it’s an enormous opportunity—at over 8,000 square feet, the home is one of the largest midcentury homes we’ve ever seen. Coming down from this Rocky Mountain high, you were also interested on a historic Salem home, a fully converted church in Pennsylvania, and a lovely Edward Durell Stone-designed home on Long Island. For more of this week’s most popular properties, simply scroll on down… 10. 64 Wildwing Ct, Las Vegas, NVPrice: $3,850,000 ——-- 9. 1 Forrester St, Salem, MAPrice: $809,000 ——-- 8. 611 Fair St, Franklin, TNPrice: $2,762,000 ——-- 7. 2779 Som Center Rd, Hunting Valley, OHPrice: $5,495,000 ——-- 6. 32A Watch Way, Lloyd Neck, NYPrice: $11,750,000 ——-- 5. 1905 Millers Rd, Wilmington, DEPrice: $379,000 ——-- 4. 49 Corona Dr, Milford, CTPrice: $337,500 ——-- 3. 1307 Greenfield Ave, Nashville, TNPrice: $442,000 ——-- 2. 316 Pine St, Nanticoke, PAPrice: $239,000 ——-- 1. 3456 S Clayton Blvd, Englewood, COPrice: $1,300,000 One look at the listing photos and you’ll understand why this midcentury modern racked up massive amounts of interest. Perfectly preserved, the interior spaces have been largely untouched since the home was built back in 1952, according to Stratton. There’s mint-green tile in the one of the bathrooms, a cute kitchen, an Asian-inspired living room, a formal wood-paneled den, and bright pink wallpaper in another bathroom. The agent told us the pink wallpaper bathroom is her favorite room in the fabulous residence. Stratton is a fan of midcentury design and told us, “It might not be for everyone, but feedback has been very positive thus far.” She noted that it was not easy to come up with a comp, but that she figures that if a savvy buyer put anywhere between $200,000 and $300,000 into upgrades, the home could sell for $2 million. We hope she finds a buyer who makes discreet upgrades while keeping the home’s stylish signature touches intact. The post Cool Colorado Time Capsule Rockets to Top of This Week’s Most Popular Homes appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/colorado-time-capsule-most-popular-homes/
That’s why it felt like the perfect time for Natalie, Rachel, and Erik to discuss the just-revealed Christmas decorations in the most famous home in the country, the White House. What did they love? What inspiration can you take for your own home? And what’s up with those all-red Christmas trees? The holiday season is also synonymous with party season. And if you’re hosting a festive shindig of your own but are stressing out about the germs about to be tracked in and out of your home, we have an easy-to-follow cleaning plan for you. There’s a good chance you’re focusing on disinfecting the wrong parts of your house! Our hosts also discuss a unique home for sale that took nautical decor to a whole new level by putting a sailboat inside the home. Erik breaks down how, exactly, the massive sloop was maneuvered inside, but we highly recommend checking out the pictures of the boat in the original article to fully grasp this feat. Hear all these stories and more on this week’s episode of “House Party.” Subscribe on Apple Podcasts, Google Play Music, Spotify, or Stitcher—and throw us five stars if you like what you hear. Have a wacky real estate story you’re dying to share? Wish you could finally get your real estate questions answered? We’d love to hear about it! You can reach us at [email protected]. ——-- Stories we discussed:If You’re Considering Putting a Sailboat Inside Your House, Read This First Our (Easy!) 7-Step House Cleaning Plan for the Germaphobe Inside Us All Prince Harry and Meghan Markle Have a New Home, and It’s So Not What You’d Expect Eva Longoria Lists Secluded Compound in Hollywood Hills for $14M The post House Party: White House Christmas Decorations, Meghan and Harry’s New Abode, Cleaning Tips That Germaphobes Swear By appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/podcast/house-party-episode-7/ A “dramatic” triplex penthouse perched atop New York City‘s Marquand building is this week’s most expensive new listing on realtor.com®. The Upper East Side abode is listed for $36 million, and its three floors include six bedrooms, five full and two half baths, four large terraces with enviable views, four fireplaces, multiple French doors, and oversized windows. The enormous unit first came on the market in 2013 for $43 million, when the 100-year-old building was converted to luxury condos. There are just 26 units in the building, with prices starting at $15 million. The backstory on the classic NYC building is a good one. Where the condo unit stands was initially a giant mansion on the same corner of Madison Avenue and 68th Street, built by the financier and art collector Henry Gurdon Marquand in the 1880s. After his death in 1902, Marquand’s mansion was left empty, and then sold in 1912. In 1913, it was demolished. A Beaux Arts Revival structure went up in its place, and in a nod to its roots, left the monogram “M” on the third floor. The building’s owners advertised to renters as Marquand House. According to a New York Times history, rents ran $165 for six-room apartments and a whopping $580 for 13-room apartments. Surrounded by the retail mecca on Madison Avenue, the building had commercial tenants on the ground floor. It was purchased by HFZ Capital, and condo conversion and a building modernization were carried out in 2013. Reports noted at the time that the penthouse unit was being sold as a “white box” for an owner to customize. White box no more, the three-story mansion opens to a barrel-vaulted gallery that leads to a living room with fireplace. Off of the living room is a wood-paneled study, along with a butler’s pantry and bar. The gallery leads to a great room for dining and entertaining, all of which access the wraparound terrace. Opposite is an eat-in kitchen and family room, which also access the terrace. The private quarters include a master suite with two walk-in closets and a large marble bath. On the top floor, there’s a glassed-in solarium that could work as an additional bedroom or an office, with a bath. Surrounded by two terraces, the space incorporates a pool and hot tub. The building’s opulence has attracted at least one celebrity purchase. Model and fashion designer Kimora Lee Simmons’ husband, Tim Leissner, purchased a $19 million pad on the eighth floor of the Marquand in 2014, the New York Post reported. The meticulously restored 13-floor structure offers luxury amenities, such as white glove concierge and door attendant services, a gym, playroom, and a live-in resident manager. The current owner has plans to add additional bedrooms to the layout, which could be delivered prior to closing, according to the listing description. If this still isn’t enough space, there’s an additional studio or guest apartment on the seventh floor, with a bath and kitchenette available separately for $1 million. Serena Boardman of Sotheby’s International Realty holds the listing. The post ‘Dramatic’ $36M Penthouse in NYC Is This Week’s Most Expensive New Listing appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/nyc-penthouse-most-expensive-dramatic/ Put down the potato! When you think of life in Idaho, a home with a view isn’t usually the first thing that springs to mind. However, we’ve found a massive estate with awe-inspiring views sitting at the edge of Boise’s East Ridge. Now listed for $7.75 million—making it the second most expensive listing in the state—the mansion is a source of intrigue for Boise residents. “It’s kind of a mystery to everyone, because they don’t know much about it,” says listing agent Eric Debord, “People think it belongs to someone famous.” We’re sorry to bust a Boise myth, but the mansion doesn’t have a ton of star power behind it. The place is owned by a wealthy businessman with no connection to A-list fame. “The current owners lived in San Francisco at the time, and they were here on a trip. This huge piece of land overlooking the city was a big blank slate for them,” explains Debord. After purchasing the property, the owners enlisted well-known Boise architect Trey Hoff to bring their vision of a mountainside retreat to life. Hoff and his team hit a few hurdles at first, as the rocky terrain of the East Ridge refused to yield. “There are enormous boulders all the way around the home that couldn’t be moved or blasted away, so the home was built around them,” says Debord. The result is a sprawling, three-tier estate that blends in with the land it occupies. “The top tier offers unbridled views of the valley,” says Debord. Grand windows and a huge deck offer postcard-worthy vistas of the Boise skyline as well. Another huge selling point? This house is, and always will be, the only hillside home in the area. “The city of Boise has been really aggressive at buying up as much hillside space as they can to keep it open and unobstructed. It’s a big draw for people moving to the area,” explains Debord. As a result, the 60 acres the home sits on is bordered by federal, city, and county lands that will most likely remain undeveloped, making this home the only one in the city with views this expansive. Distance from city life, especially in a state like Idaho, can be a deal breaker. But this house—secluded and seemingly distant from city life—is actually only 2 miles from Boise. “The entrance to the property is right off one of Boise’s main roads, and it only takes a few minutes to get to the city,” says Debord. With its proximity to the city, over 6,000 square feet of living space, endless windows, an indoor pool, and a gourmet kitchen on top of a deck that offers the ultimate in views, this hillside retreat will always stand alone. The post Idaho’s Second-Most Expensive Property Comes With Unmatched Views appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/idaho-second-most-expensive-unmatched-views/ We’ve all heard that sex sells … but does that mean that planting scantily-clad fitness models in listing photos can actually help sell a house? That’s what Kristin Gyldenege started wondering back in October when she was hired as the listing agent to sell a two-year-old, two-story house in Conroe, TX. Although the property itself was an “entertainer’s dream”—with three huge bedrooms, 2.5 baths, and an open-concept kitchen with granite counters and stainless steel appliances—no one was biting. “We weren’t getting any traffic,” Gyldenege tells realtor.com®. During the month of October, the listing got just 180 views, and despite multiple open houses, no one was showing up. Part of the problem was that the house was situated in an area known for flooding, which might have made potential buyers wary of wading in (although Gyldenege is quick to point out that this home has never been inundated and is situated in an elevated area that’s “high and dry.”) By November, she decided it was time to try something more eye-catching … and what better eye candy could there be than fresh new listing pics of a young, barely clothed couple prancing around the house? Gyldenege called a couple of fitness models she knew, and asked if they’d be willing to pose for photos. They happily agreed to do it for free. Of course, she called her client first, explaining that these new pics would hopefully drum up more eyeballs for her listing—particularly twenty- or thirty-something couples who might identify with these young tattooed models (or at least see the humor in the whole thing). The home seller was on board, so Gyldenege set up the shoot, grabbing her own camera to snap some pics. “I shot the pictures Sunday morning and posted them Sunday afternoon,” Gyldenege recalls. By Sunday night, the listing had been shared far and wide, and viewed over 50,000 times. Then came a message from the Houston Association of Realtors (HAR), which manages the Multiple Listing Service for the area. “HAR had received over 100 complaints about the photos,” Gyldenege says. She doesn’t know exactly who complained or what they said, although she’s got an inkling that “older real estate agents” made up the bulk of the criticism. “I find [the reaction] interesting,” she says. “I don’t think [the photos were] that crazy! But if something this minor has gone this crazy, clearly some revitalization has to be done in our industry.” HAR took down the listing Monday. Gyldenege was allowed to restore it later, albeit with only the original pics of empty rooms. Yet although her racy listing photos were up online for only about 24 hours, that was enough time to lead to six showings and a sizable crowd at their next open house. While these photos may have raised eyebrows in the Houston area, sexy listing pics are not exactly new to the real estate game. In 2016, one risqué real estate video listing in Hollywood Hills went viral for featuring a nude, tattooed woman luxuriating in her steam shower. And of course, plenty of real estate agents have pulled other types of listing stunts that turn heads in different ways—like with a panda suit or T. Rex costume. And Gyldenege herself is no stranger to controversy. Last year, she embarked on her own personal branding mission, slapping a sign on her car dubbing herself the “Potty Mouthed Agent” who would “sell the s*** out of your house.” Some applauded her fresh approach; others called her “tacky” and a “disgrace to the profession.” So, she was certainly not surprised when her latest listing tactic stirred up both positive and negative reviews. But Gyldenege says that in today’s crowded real estate market, you have to take risks. “What agents are forgetting is we are a service. We must pull out all stops and do whatever it takes to make sure our clients walk away happy,” she says. “If part of our service means putting ourselves on the line to stand out, then so be it.” She also says that work must be done to change younger people’s perceptions of the real estate agent profession. So while the fate of this particular listing experiment has yet to be determined, Gyldenege is happy with the results. Asked if she’d do it again, she says no, but only because this particular idea has now already been tried. “I probably won’t do specifically this,” she says, “but I will push the envelope again!” The post Should These Racy, Tacky Real Estate Pics Be Banned? Take a Look If You Dare appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/should-these-racy-tacky-real-estate-pics-be-banned/ Pending Home Sales Tumble to 4-Year Low in Latest Sign the Housing-Market Correction Has Arrived11/29/2018 The numbers: U.S. pending home sales slid 2.6% to a reading of 102.1 in October from 104.8 in September, the National Association of Realtors said Thursday. That was the lowest since June 2014. What happened: NAR’s index, which tracks real estate contract signings, was down 6.7% compared to a year ago. The report missed the Econoday consensus for an unchanged reading. Contract signings usually precede closings by about 45 days, so the pending home sales release is considered a leading indicator for the existing-home sales report. In October, pending sales in the Northeast rose 0.7%. It was the only region to see an increase. In the Midwest, sales fell 1.8%, in the South they fell 1.1%, and in the West they tumbled 8.9%. Big picture: The housing picture is growing darker. The Realtors trade group now expects sales of existing homes to decline 3.1% in 2018, and another 0.4% in 2019. The group also forecasts home prices will fall 2.5% next year. What they’re saying: Economists have been mixed on the signals from the housing market, even as the warning signs become harder to ignore.
“By all accounts, we are seeing a buyers’ strike this year, as prospective home buyers have tired of surging home prices, frenzied bidding on scarce homes for sale and most recently rising mortgage rates,” said Stephen Stanley, chief economist at Amherst Pierpont Securities. “The slowdown in home-price appreciation in recent months should help to bring the housing market into better balance.” Market reaction: The 10-year U.S. Treasury yield has backed off in recent weeks, which should offer home buyers a reprieve on mortgage rates, if the demand is still there. The post Pending Home Sales Tumble to 4-Year Low in Latest Sign the Housing-Market Correction Has Arrived appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/pending-home-sales-tumble-4-year-low-latest-sign-housing-market-correction-arrived/ |
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