Calacatta marble is nice, but the oldest homes to land on the market this week will have you swooning for wide-plank floors, keeping rooms, and Colonial charm. The senior of the bunch dates to 1700, and the whippersnappers are a trio of homes completed in 1750. All have evolved over the centuries into comfy residences with oodles of vintage charm—conveying a feeling of comfort something like slipping into a favorite, well-worn pair of jeans. These 10 houses offer a range of options for a buyer in search of history: acreage, many, many fireplaces, and a connection with the past that permeates every brick and board. So have a look at this group of houses, which prove once and for all, when it comes to timeless real estate, age really is nothing but a number. 1. 20 Parker St, Newbury, MAPrice: $925,000 Historic Colonial: This 1.4-acre property is a quick commute to Boston, with a home that’s a historic gem. Built in 1700, this four-bedroom house has been updated with modern amenities without sacrificing any of its original charm. It features wide pinewood floors, original paneling, and a lovely large family room with views of the gardens outside. ——-- 2. 71 Remington St, Warwick, RIPrice: $249,000 William Remington House: Sitting smack-dab in the heart of Pawtuxet Village, this renovated home has been given an entirely new interior that pays respect to the home’s antique details. The cute three-bedroom cottage has a spacious yard and patio and is just a quick stroll from shopping, dining, and parks. ——-- 3. 61 Tradd St, Charleston, SCPrice: $3,395,000 The Motte Harvey House: This four-bedroom, 4,465-square-foot home is one of the oldest in Charleston, and the listing details call it one of the “handsomest houses” on the street. Built from brick and stucco, the 3.5-story home boasts period highlights like heart-of-pine floors, original mantels, and Georgian cypress paneling installed in the drawing room during a 1920 renovation. The current owners have updated the kitchen and bathrooms, for a move-in ready historical property. ——-- 4. 93 Main St, Topsfield, MAPrice: $950,000 Emerson-Jordan House: This Federal Colonial-style home comes with an attached apartment—ideal for rental income or to use as an office. The main house features six updated bathrooms, nine fireplaces, and pumpkin pine flooring. The property, on nearly a full acre, includes a heated post-and-beam barn and heated studio. ——-- 5. 76 Waterside Ln, Clinton, CTPrice: $1,700,000 Clinton Harbor: This historic ship captain’s home sits on almost a full acre at the entrance of Clinton Harbor, with views of Long Island Sound. It also offers a rental option—there’s a two-car garage with an apartment above. The three-bedroom main house is updated and move-in ready, just steps from the water. ——-- 6. 118 Putnam Park Rd, Bethel, CTPrice: $519,000 Fern Ridge: Spread out on 3 acres, this property features a three-bedroom main house filled with antique details and whimsical decorating colors. For relaxation, there’s a pool and a natural, spring-fed pond flowing throughout the property, as well as a patio for lounging on warm days.
——-- 7. 1219 High St, Westwood, MAPrice: $860,000 Appointed antique: Right off the bat, you’re pleased by the poppy-colored front door. Immaculately remodeled and restored in all the right places, this five-bedroom home is filled with gorgeous spaces, including a four-season porch, library, and fitness room. The owner’s suite has a fireplace and soaking tub, and there’s an additional flexible space for an office or play area. The over 2-acre lot is filled with lush, manicured grounds. ——-- 8. Dennis, MAPrice: $3,995,000 Captain Jonathan Howes House: This large compound covers more than an acre and boasts a total of three homes. The shingled, seven-bedroom main house dates back centuries, but has been fully renovated. Outside, find a saltwater pool, manicured grounds, and areas for entertaining. There’s also a two-bedroom guesthouse and a third studio with a kitchenette and bathroom. ——-- 9. 319 Main St, Wethersfield, CTPrice: $469,900 Colonial comeback: This updated, four-bedroom Colonial has a remodeled kitchen that still features the original wide-plank flooring and rough-hewn beams on the ceiling. The original fireplace is still in place, and those wood floors are held down by hand-forged nails. Gorgeous interiors are lined with woodwork, and the clean, modern lines beautifully set off antique details. ——-- 10. 74 Summer St, Rehoboth, MAPrice: $449,900 Seventh Hearth Farm House: Newly renovated and expanded, this four-bedroom home sits on 2 acres chock-full of flowers, gardens, trees, and stone walls. There’s also a charming courtyard and barn. Inside, the home features period hardwood floors, exposed beams, seven fireplaces, and an updated kitchen. The fireplace in the keeping room, an adjacent room where the rest of the family can keep company with the cook, still has the original brick oven. The post Centuries-Old and Charming: The 10 Oldest Homes To Land on the Market This Week appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/charming-and-old-10-oldest-homes-to-land-on-the-market-this-week/
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While most Americans are scrimping and saving as the economy continues shuddering, home buyers in some neighborhoods aren’t quite as concerned with saving money. Home sale prices rose in more than three-quarters of the nation’s most expensive real estate markets this year as buyers bid up the sticker prices, according to a recent report from real estate data firm PropertyShark. The pandemic likely helped to boost prices as more well-heeled buyers sought out larger homes on more land in scenic destinations where they could work remotely and have some elbow room for their families. “Luxury buyers are more resilient to economic conditions like the ones we’re having now,” says Eliza Theiss, a senior writer at PropertyShark. “High-end professionals are still going to be able to buy.” To come up with its list of the most expensive ZIP codes, PropertyShark analyzed sale prices of single- and two-family homes, co-ops, and condos from Jan. 1 through Oct. 15. Only ZIP codes with at least three home sales were included. Silicon Valley’s Atherton, CA, retained its spot as the nation’s most expensive ZIP code for the fourth year in a row. The median list price in the suburban town’s 94027 ZIP was a whopping $7,395,050 in October, according to realtor.com® data. While still stunningly high, the median list price in the tech town is actually down 8.7% from a year ago, according to realtor.com. That’s likely because COVID-19 has allowed many white-collar and tech professionals to work from home, some for the first time. So many of these folks are telecommuting from more affordable or remote areas now that they can work from just about anywhere in the world with a good internet connection. The vast majority of the most expensive ZIP codes were in California, which claimed 87 of the top 100 places. (Fifty of these were in the San Francisco Bay Area.) Prices in the Golden State have risen over the past year due to the severe lack of inventory and the exodus of workers out of the cities and into the suburbs and countryside. The devastating wildfires have also destroyed some of the state’s housing stock, leading to an increase in demand in areas that were spared the wrath of the disasters. “California has a housing shortage, and it’s an attractive location,” says Theiss. She touted the strong economy in the state, which is also desirable for its natural beauty. New York had the second most expensive real estate markets. Overall, only 11 states had ZIP codes that cracked the top 100. Sagaponack, NY’s waterfront 11962, was the next most expensive ZIP code, with a median home list price of $6,245,050. The Long Island beach town is located in the Hamptons, a popular summer and weekend getaway for New York City’s A-listers and millionaires. Rounding out the top 10 were Santa Monica, CA‘s 90402; Beverly Hills, CA‘s 90210; Ross, CA‘s 94957; Portola Valley, CA‘s 94028; Los Altos, CA‘s 94022; Bridgehampton, NY‘s 11932; Palo Alto, CA‘s 94301; and Medina, WA‘s 98039. The post These Are the Most Expensive ZIP Codes in America in 2020 appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/most-expensive-zip-codes-2020-california-new-york/ The sports announcer Andrés Cantor has a big goooooal ahead of him—selling his luxury condo in Los Angeles. The famed Spanish-language soccer play-by-play man is asking $3.4 million for his posh pad. He purchased the contemporary unit in 2010 for $1.48 million. The broadcaster listed the high-floor apartment in 2015 for $3.1 million, but wasn’t able to sell it. So it appears that the strategy now is to place the cool crib on the market—at a higher amount. Comparing the listing photos from today with the ones from five years ago, it appears that he’s also had the place staged and rephotographed with a lighter, contemporary look. The condo is located in the 21-story Wilshire House, and the exclusive residential tower comes with wraparound balconies on every floor and includes a total of 63 units. The fully renovated two-bedroom, 2.5-bathroom floor plan features an open living room, a dining room, a fireplace, and a den that, as the listing description notes, could be converted into a third bedroom. With 2,440 square feet, the “architectural designer residence” includes walls of glass that offer panoramic mountain, city, and ocean views. Sliding glass doors in the living area and bedrooms open out to balcony spaces for lounging or outdoor dining. The custom-built Scavolini kitchen features top-of-the line appliances, as well as a windowed breakfast nook. A spacious master suite opens out to a balcony, and is roomy enough to include a seating area, as well as a designer bathroom with two sinks and separate glassed-in shower and tub. Other amenities include two parking spaces and in-unit laundry. Residents also enjoy building amenities, including a pool, gym, and tennis courts. Along with security, the building staff includes a concierge and valet parking, perks that celebrity or high net worth clientele will certainly appreciate. Cantor announces soccer on NBC Universal’s Telemundo and Universo cable networks. He’s known for his signature drawn-out call of “Goooooal!” when a player hits the back of the net. He introduced his trademark celebratory call to a U.S. audience when he worked on the FIFA World Cup for Univision in the 1990s. Mazda Hoghoughi with Elite Properties Realty holds the listing. The post Goal! Soccer Announcer Andres Cantor Lists L.A. Condo for $3.4M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/soccer-announcer-andres-cantor-lists-los-angeles-condo/ Douglas Gilman put a new designer kitchen in his Manhattan apartment last year with entertaining in mind. He placed the sleek marble-accented Dada kitchen, from Italy’s Molteni&C, at the center of the airy 2,800-square-foot home that he created from combining two adjacent units in a former West Village printing house. He figured it would give him easier access to his guests. But the arrival of Covid-19 restrictions has meant much more cooking, and next to no entertaining, and it’s his high-tech German appliances that have come to the rescue, including an induction cooktop that can sense where he places a pan, and a speed oven that combines convection and microwave technology. “My ovens are almost more advanced than my computer,” says the 39-year-old financial-services professional of his $30,000 set of appliances from Gaggenau, Miele, and the U.S. brand Sub-Zero. Eating may still be analog, but kitchens have taken up residence in the digital age, as designers and appliance makers increasingly rely on a host of technological innovations to update the traditional tasks of cooking, storing and cleaning up. Kitchen-appliance categories haven’t changed much since the 1970s, when microwave ovens began appearing on ordinary countertops. But cameras, sensors, artificial intelligence and newfangled materials are now turning those appliances into ultrasophisticated hardware, while smart functions and connectivity are recasting the Cloud as the latest kitchen accessory. Buyers of Miele’s new G7000 series dishwashers never have to worry about running out of detergent. When the machine runs low, a sensor prompts their smartphones to reorder the brand’s trademark detergent disk from the company’s online shop. Meanwhile, Bosch, Miele’s competitor in the luxury dishwasher market, has introduced Zeolite, an alkaline mineral compound, in its new dishwasher series. Among other tasks, the compound helps plastic items dry more efficiently. Elsewhere in the kitchen, cameras in refrigerators can be called up on smartphones, allowing you to look into your fridge from the grocery aisle to see what you need to buy. For European homeowners, Bosch’s new Cloud-accessing system has a fridge camera to suggest recipes based on what you already have on-hand. As the pandemic draws new focus to the kitchen, with families forsaking frequent dinners out for daily home-cooked meals, players in the industry are noticing an uptake in sales—accompanied by a greater interest in high-tech options. Even induction stovetops, which can be a hard sell for gas-loving Americans, have seen demand rise by 35% in the U.S. Appliance sales declined in the early months of the pandemic, but now “U.S. demand has really come back strong,” says Axel Kniehl, the executive director of sales and marketing for Miele. “Consumers can’t spend money on other things, so they have started renovating their kitchens.” Covid-19 is changing homeowners’ basic expectations for the kitchen, according to a new survey compiled by the National Kitchen and Bath Association. Companies are seeing soaring requests for items that help keep the cooking area more sanitized, such as touchless faucets and antimicrobial surfaces. Kohler, the Wisconsin-based plumbing company that specializes in luxury finishes, says a majority of homeowners recently sampled are starting to regard the touchless faucets as must-haves. Kohler now combines voice automation with their touchless feature, allowing you to command your faucet to pour exact amounts of water. Homeowners can go so far as to customize voice orders by recipe. Daniel Markham, a Utah-based influencer who has Kohler faucets in his new home, shouts out “mac and cheese” for just the right amount of water for the recipe his family of five uses. Benoît Favier, managing director of La Cornue, the French oven and stove maker based outside Paris known for its customizable luxury ranges, says he expects a 15% to 20% rise in sales in 2020. Mr. Favier says customers are increasingly interested in copper detailing, which is thought to have antimicrobial properties. Earlier this year, at the height of the pandemic, La Cornue introduced the Château Suprême, an Art Deco-inspired upgrade on its traditional design. The unit allows homeowners to mix and match induction and gas burners with a teppanyaki plate and a walnut cutting board. Prices run as high as $165,000. Thermador, the California-based luxury appliance brand, offers an extra-low simmering feature that, the company says, lets you melt chocolate on a paper plate. Thermador users can hook up all its appliances categories to the same app, which will alert you that the fridge door is open, let your preheat your oven, or adjust the temperature of your wine cabinet to accommodate an unusual varietal. On its high-tech to-do list: finding ways to digitalize its luxury gas stoves. Designer-kitchen makers are also going high-tech. This year, Italy’s Boffi introduced its high-performance ceramic-like material, called MDI, which can be used for a range of kitchen surfaces, including countertops and filler space around appliances. Nonporous, as well as crack- and stain-resistant, it is much easier to clean, and therefore more hygienic. A high-tech alternative to other materials, such as stone and stainless steel, it has a grain-like finish that is soft to the touch. The rise in outdoor cooking as safer for entertaining than closed spaces has companies investing in research into materials for planned outdoor-kitchen lines, say a handful of executives. In a new smart home in Phoenix, Dean Heckler, a 47-year-old industrial designer, and his wife, Angela Heckler, a 35-year-old fundraising director and singer-songwriter, put their new high-tech kitchen, finished in early 2020, at the center of a long, glass-enclosed, open-plan living space. The island—covered in Dekton, a high-tech mineral composite with a large quartz content—is outfitted with an induction stove that senses pan size and a downdraft vent system. All blend in so seamlessly that the unit looks like a dining table. “You don’t notice the kitchen unless you’re using it,” says Cavin Costello, the couple’s architect. “But it still has all the firepower.” The Hecklers spent about $125,000 on the kitchen, including nearly $4,000 on a built-in Miele coffee maker, with sensors that detect the height of the cup being filled. They planned their project with automation in mind, and everything from their irrigation system to their house locks and lights can be controlled by Apple HomeKit and Siri. A high-tech standout: their Steinway piano, which can record Mrs. Heckler’s performances to an app, where her compositions can then be edited. It can also play on its own on command. “You can treat the piano like a HomePod,” says Mr. Heckler. For a Wisconsin couple, who wanted the kitchen in their Maui vacation home to be modern but not complicated, an innovative element is used to accent traditional touches. The couple, working with Chicago designer Mick De Giulio, spent about $380,000 on the kitchen, which includes expensive wood detailing, mixing wenge and smoked-Eucalyptus veneers with solid Monkey Pod, a locally grown hardwood. Mr. De Giulio designed the $12,000 LED light fixture to complement the various finishes. LED lighting was once too harsh, he says, but the latest generation “gives off a really nice light that is complementary to wood grains.” The humble toaster got an upgrade last year from Revolution Cooking, a Massachusetts-based company whose touch-screen smart toaster uses a quick-heating alloy to flash-toast and evenly brown while holding in moisture. Europeans in select markets can now buy a new countertop Bosch cooking appliance called the Cookit that uses sensors to perfect a range of cooking functions, from evenly reheating leftovers to searing a steak. Miele has recently introduced a whole new kind of oven, called the Dialog Oven, which uses electromagnetic waves to cook closely placed foods with differing energy levels. The company likes to show off the technology by cooking a fish in a block of ice. The oven can cook a roast in an hour, while a nearby pan of vegetables stays al dente. Up-to-date kitchen appliances are key in the latest home-sales market, says Michael Harper, an agent with Boston’s of MGS Group Real Estate. He says a suite of new Sub-Zero Wolf kitchen appliances is a star selling point for a single-family Back Bay townhouse that dates to the 1890s. The four-bedroom, seven-bathroom home, which just underwent a gut renovation, has an asking price of $9.995 million. “Luxury buyers want what they want, and they want it now,” he says, of the turnkey kitchen, which has an island covered in Italian Paonazzo marble, with a honed finish meant to resist stains. While the pandemic is boosting current sales, kitchen companies are looking to the future. Bosch is researching induction surfaces that may one day do away with stovetops entirely, letting you turn select surfaces into potential burners. Agrilution, a Miele subsidiary, is now marketing small vertical farm units, called Plantcubes, for growing herbs and greens. Robotic devices already have a place in American kitchens thanks to iRobot, the Massachusetts company that introduced the robotic vacuum cleaner in 2002, and, a decade later, the robotic mop. (In Phoenix, the Hecklers, use the company’s latest vacuum model, the self-emptying Roomba s9 to help keep dog hair to a minimum.) Colin Angle, iRobot’s CEO, foresees kitchen robots will next be used to take care of other menial tasks, such as loading and unloading dishwashers. Howie Choset, a professor of Robotics at Pittsburgh’s Carnegie Mellon University, has his doubts about humanoid robots as servants-of-the-future. But he does see a growing role for machine-learning technology to help out with cooking technique, citing a potential future smartphone app. Prof. Choset, part of a team doing kitchen-related robotics research in conjunction with the Culinary Institute of America, believes the app may be only a year or two away. He sees cooks perfecting their slicing, dicing, braising and basting, while the camera on their smartphone tracks their technique, and voice-equipped technology shouts out pointers—comparing their actions with those of an expert chef. Back in his own kitchen, Prof. Choset says he is still working on the basics. “I just learned to cook oatmeal,” he says. The post The Future of Kitchen Design Is Hands-Free and Smartphone-Activated appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/the-future-of-kitchen-design-is-hands-free-and-smartphone-activated/ Cincinnati Bengals running back Giovani Bernard is ready to hand off his brand-new Fort Lauderdale, FL, home. The modern mansion is on the market for $10.9 million. The NFL player purchased the property in 2017 for $2.55 million, and completely customized it, “from floors to ceilings with nothing short of the best qualities,” as the listing description notes. It was designed and built by the Miami-based architecture firm Choeff Levy Fischman, which specializes in “tropical modern” architecture. Its design for Bernard’s property resulted in a stylish abode with industrial-chic details in concrete, stone, and glass. Set in the Harbor Beach neighborhood, the property offers 220 feet of deep-water dockage on the canal, which is just minutes to the mouth of the ocean. So there’s plenty of space to park your boat or sail away to sea. With 5,320 square feet, the layout features five bedrooms, 4.5 bathrooms, and an open plan that extends outside. Finished this year, the single-level home features a gourmet kitchen with a white island and bar seating, which looks out to the living and dining spaces. Pocket glass doors from multiple points in the home completely open to reveal additional living space outdoors. A minimalist master suite features walls of glass, a bath with a stand-alone tub, and separate steam shower. The walk-in closet includes a glam built-in vanity. In addition, the layout includes a media room with a giant flat screen to catch the entire NFL season, as well as an office. Details include ipe wood and stone feature walls, all-white oak floors, modern pastels, and volume ceilings. The home can be controlled with smart home features. Outside, the almost half-acre property sports a pool and spa, summer kitchen, outdoor shower, landscape lighting, and underwater dock lights for after-dark entertaining. Along with an eye for design, the 29-year-old Fort Lauderdale native is going strong with his NFL career. After playing college ball at the University of North Carolina, Bernard was selected by the Bengals in the 2013 draft, and has been with the team ever since. In 2019, he signed a two-year, $10.3 million contract extension. Nicole Holtzheuser with Florida Luxurious Properties holds the listing. The post Bengals RB Giovani Bernard Selling $10.9M Tropical Mod Mansion in Fort Lauderdale appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/giovani-bernard-selling-tropical-mod-mansion-in-ft-lauderdale/ TV critics raved over HBO’s revival of the “Perry Mason” franchise. Fans of distinctive architecture also raved over the classic Tudor-style home used in the series. Now the home in the Los Angeles neighborhood of Hancock Park is on the market for $4,795,000. In the series, the stately mansion served as the home of the not-so-stately E.B. Jonathan (John Lithgow), who mentored Perry Mason (Matthew Rhys) in his evolution from dowdy detective to able attorney. In real life, the home was built in 1923 by a leading L.A. builder (Luther T. Mayo), who collaborated with a renowned architect (Edward B. Rust) to design the elegant Tudor Revival for his own family. It would become known as “Stratford on Irving,” for its English design and its location on Irving Boulevard. Mayo built a number of architectural landmarks in Los Angeles and Santa Monica in the 1920s, including the Los Altos Apartments for William Randolph Hearst. The Tudor “offers classic Los Angeles elegance,” said Anne Loveland, who is listing the property with Janet Loveland and Sue Carr of the Loveland Carr Group, a team of agents affiliated with the Hancock Park office of Coldwell Banker Realty. That elegance is evident in a brick exterior with half-timbers and a Belgian slate roof. The diamond-paned windows add character, both inside and out, as can be seen in the listing photos, as well as in Jonathan’s home in the TV series. Inside, the home features original and restored plaster cast ceilings, pecan paneling, and parquet oak floors. Much of the remarkable hardware is also original. The staircase is a masterpiece of period hand-carving. A total of 5,794 square feet of living space is offered, between the main house and the two-story guesthouse. The guest quarters include approximately 1,674 square feet, providing plenty of living space for an overnight stay. Alternatively, the guesthouse could also easily accommodate a screening room, workspace, or gym. In total, there are five bedrooms and 3.5 bathrooms, all of which have been updated with new electrical wiring, plumbing upgrades, and new HVAC systems. The bathrooms and kitchen have been charmingly updated with new features and fixtures that match the historical character of the home. Outdoors, the parklike grounds have elegant landscaping, a gracious patio with a crisp, striped awning for entertaining, fountains, rolling lawns, neatly trimmed box hedges, and several seating areas shaded by trees that were planted almost a century ago. The restoration and conservation were a labor of love completed by the current owners, who purchased the place in 1994 for $850,000. Within walking distance of the trendy restaurants and shops of Parchment Village, the home is also very close to L.A. landmarks like the Wilshire Country Club, the La Brea Tar Pits, and LACMA, the Los Angeles County Museum of Art. After a couple of price cuts since the home’s debut on the market in August, the most recent reduction should make this an open-and-shut case for any potential buyer. The post Classic Los Angeles Tudor Used in New ‘Perry Mason’ Available for $4.8M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/classic-tudor-perry-mason-for-sale/ How much would you pay for what might be the oldest log cabin in the United States? You definitely wouldn’t pay $2.9 million. We know that for a fact. This Gibbstown, NJ, property—which includes the historic Nothnagle log house built in 1638—debuted on the market with that multimillion price tag three years ago. However, the price proved problematic, and the home vanished from the market without a new owner. So, how about a 70% discount? It’s now available for a much more reasonable $875,000. “It’s actually a real bargain at the price that it’s at,” says the longtime owner, Doris Rink. She says she made the dramatic price cut with the hope of finding a buyer who might have an interest in living in a historic home, as well as the other four structures and 1.3 acres that come with it. The house recently topped our weekly look at the oldest homes to land on the market in the U.S. Rink, 77, has lived at the historic home for 48 years. She inhabited the home with her husband, Harry Rink, who had owned the fascinating estate since 1968, but who recently died. Nowadays, Doris realizes she can’t care for the South Jersey property on her own any more and is willing to part with it—for much less. But she’s available to act as site historian, to help impart the home’s incredible history. The log structure was built between 1638 and 1643 as part of the New Sweden colony, before the now-bordering state of Pennsylvania was even founded. It’s reported to be the oldest log cabin in North America and the oldest home of its type still standing on its original site in the Western hemisphere. The cabin’s foundation is believed to be built of bricks carried to America as ship ballast. The mostly intact original square-hewn logs are cleverly connected, without using a single nail. Over the years, the Rinks restored the cabin to its original condition. As they made repairs, they excavated artifacts such as a 300-year-old shoe and pieces of pottery. The couple also acquired artifacts and antiques, and she may be willing to part with those, as well as the property. The rare build is a registered historic landmark. Over the decades, Doris shared the 352-square-foot log cabin with tour groups, and has welcomed visitors for free since 1973. The couple lived in the attached three-bedroom, one-bathroom, 1,800-square-foot “modern” addition, parts of which date from 1750 and 1900. The grounds include the historic log cabin, as well as a machine shop, and a dairy and meat-processing shed added to the rear of the cabin. And there’s a newer four-car garage with storage, plus a utility shed, both built recently by the Amish, notes Tom Smitley with Kurfiss Sotheby’s International Realty, who holds the listing. Three years ago, the property was for sale as a life estate, which would have allowed the couple to age in place. Now, that’s no longer the case. While Doris is moving on, she suggests that the property could continue to be operated as a tourist attraction. New owners could open a teahouse or run a history-themed Airbnb. There’s also room to build more houses. Although the next owner will be getting a discount, to live among such a backdrop seems to be a priceless gift to the seller. “You’re actually living history,” Doris says. “Every day of my life, I could find new things about it.” The post Built in 1638, Why Is the Nation’s Oldest Log Cabin Now Offered at a 70% Discount? appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/built-in-1638-oldest-log-cabin-huge-discount/ The numbers: The cost of buying a house rose sharply again in September and by one measure hit a six-year high, a Case-Shiller index showed, signaling that prospective buyers are unlikely to find better deals any time soon. A measure of home prices in 20 large cities rose at a 6.6% yearly pace in October, according to the S&P CoreLogic Case-Shiller price index. That’s up from 5.3% in the prior month. Wall Street economists had forecast a 5.4% increase. A broader measure by Case-Shiller that covers the entire country showed a similarly large 7% increase in home prices over the past year, marking the fastest 12-month gain since 2014. Home prices have actually risen faster during the worst pandemic in a century instead of getting cheaper. Rock-bottom mortgage rates and a flush of people leaving cities during the pandemic for more space in the suburbs and beyond has boosted demand at a time when the supply of home for sales is near a historic low. On a monthly basis, the Case-Shiller 20-city index rose 1.2% in September. What happened: Prices rose in 19 of the 20 large cities tracked by Case-Shiller. The lone exception, Detroit, likely registered higher prices as well, but Case-Shiller could not collect enough data because of rising COVID-19 cases in the area. The biggest increases took place in Phoenix, Seattle and San Diego. The smallest were in New York and Dallas. New York has seen a particularly large outflow of residents after suffering a huge number of COVID-19 cases early in the pandemic. Dallas was another hard-hit area. Big picture: Home sales might slow a bit in the face of a record surge in coronavirus cases and a softer economy. But don’t expect demand — or prices — to taper off all that much, especially if the pending vaccines turn out to be effective and widely available. Sales are at the highest level in years and likely to stay that way if the economic rebound picks up the pace. Market reaction: The Dow Jones Industrial Average and S&P 500 rose in Tuesday trades. The Dow moved within 100 points of the 30,000 mark. The post U.S. Home Prices Surge to 6-Year High in September, Case-Shiller Index Shows appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/u-s-home-prices-surge-to-6-year-high-in-september-case-shiller-index-shows/ WASHINGTON—The federal regulator who oversees Fannie Mae and Freddie Mac is pushing to speed up the mortgage giants’ exit from 12 years of government control but has yet to reach an agreement he needs with Treasury Secretary Steven Mnuchin, according to people familiar with the matter. Mark Calabria, a libertarian economist who heads the Federal Housing Finance Agency, has made it a priority to return Fannie and Freddie to private hands, a goal shared by Mr. Mnuchin. How that is done could affect the cost and availability of mortgages backed by the companies, which guarantee roughly half of the $11 trillion in existing home loans. Completing the complex process before President Trump’s term ends on Jan. 20 is a long shot, and President-elect Joe Biden is considered unlikely to continue the effort. But Messrs. Calabria and Mnuchin could succeed in taking steps that would be difficult to reverse, such as significantly restructuring the government’s stakes in the firms. The Treasury secretary must agree to any move to alter the terms of either the companies’ bailout agreement or the government’s stakes. One person familiar with the effort said Mr. Mnuchin is supportive of locking in a path to private ownership but mindful of steps that could disrupt the housing-finance market. Mr. Calabria has met twice recently with Mr. Mnuchin to discuss an expedited exit of the companies from government control, most recently the week of Nov. 9, according to people familiar with the meetings, which also involved Larry Kudlow, the director of the White House’s National Economic Council. Mr. Mnuchin was noncommittal about the push, the people said. Fannie and Freddie don’t make home loans. Instead, they buy mortgages and package them into securities, which they then sell to investors. Their promise to make investors whole in case of default keeps down the price of home loans and underpins the popular 30-year fixed-rate mortgage. The government seized control of Fannie and Freddie to prevent their collapse during the 2008 financial crisis through a process known as conservatorship, eventually injecting $190 billion into the companies. In exchange, the Treasury received a new class of so-called senior preferred shares that originally paid a 10% dividend. It also received warrants to acquire about 80% of the firms’ common shares. One option under discussion would entail a complex capital restructuring that would eventually reduce the government’s stakes in the firms. Such a move would be aimed at opening the door to new, private investment. Still, it is a delicate issue because U.S. officials don’t want to cause investors to doubt the government’s backing of the firms, which have helped pin mortgage rates at record low levels during this year’s pandemic-induced economic slump. Moreover, it is politically sensitive because depending on the design, it could effectively move Wall Street investors ahead of taxpayers in line to receive any future profits. As part of that set of decisions, Mr. Mnuchin would have to determine whether to write down the government’s more than $220 billion of senior preferred shares in the firms. Because those shares give the Treasury first claim on profits, private investors will have little incentive to take new stakes in Fannie and Freddie as long as they exist in their current form. Such a move would likely push up the value of shares that investors acquired at fire-sale prices after the 2008 crisis. Some lawmakers are worried taxpayers would be short-changed. In a letter to Messrs. Calabria and Mnuchin last month, Sens. Mark Warner (D., Va.) and Mike Rounds (R., S.D.) said taxpayers must be paid a fair market value for whatever stake they give up. “Any other means of reducing their investment would be tantamount to a transfer of wealth from the taxpayers who stepped in to save [Fannie and Freddie] to private investors looking for a windfall,” they wrote. It is unclear how seriously officials are considering another legal move that Mr. Calabria has raised in the past: an order formally ending the conservatorships but requiring the companies to operate with significant limitations on their businesses until they raise enough capital to operate independently through retained earnings and possible future stock sales. Supporters say the move would be akin to downgrading a sick patient from the emergency room to a regular hospital room. One person familiar with the matter said the policymakers aren’t considering such an order, fearful it could upend markets. Any single step, such as restructuring the government’s stakes in the firms, would normally require dozens of employees across the White House, Treasury and other agencies many months to complete, according to current and former government officials. Industry officials warn that an abrupt overhaul to the company’s legal status could spook risk-averse investors in mortgage-backed securities issued by Fannie and Freddie, which are seen as nearly as safe as Treasurys. “An end to conservatorship would be a material change from what we’ve had, and it will take time to explain to investors what risks do and do not exist,” said Michael Bright, CEO of the Structured Finance Association, whose members include investors in Fannie and Freddie securities. In a sign that Mr. Calabria is eager to complete unfinished work quickly, the FHFA on Wednesday completed a rule requiring the companies to hold as much as $280 billion in capital once they exit conservatorship, up from $35 billion currently. —Nick Timiraos contributed to this article. The post Fannie, Freddie Overseer Looks to End Federal Control Before Trump Leaves appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/fannie-freddie-overseer-looks-to-end-federal-control-before-trump-leaves/ There’s nothing more authentically Western than a 2,000-acre cattle/horse ranch once owned by the legendary actor John Wayne. The vast acreage is located in a hilly Riverside County, CA, community known as Sage, just south of the city of Hemet, CA. Now this unique piece of Americana—which includes the three-bedroom, three-bathroom ranch house where the Duke actually stayed—is on the market for $8 million. “It’s the largest property of this type in the entire San Diego area,” says the listing agent, Tatiana Novick of Coldwell Banker, Rancho Santa Fe. It’s known as Rancho Pavoreal (Peacock Ranch in Spanish), and Wayne owned the property in the 1970s. He frequently invited guests out for horseback riding, shooting, and other ranching activities. The main bedroom where he slept is intact, as is the large living room where he entertained. The property is currently being used as a family retreat and zoned as residential property. Novick says that with new zoning, the property would be ideal for a scout camp, an animal sanctuary, a church retreat, an equestrian facility, or a cattle ranch. It encompasses 10 separate parcels, and the entire property is fenced. There are three wells on the property and miles of horse and hiking trails. Scouts and hikers would doubtless enjoy the many Native American artifacts found on the property, including rocks with holes in them for cooking and processing game. But the property could also be used for agricultural purposes. The adjacent ranch is currently being used as a palm tree farm. Novick notes that while the property has a true back-country feel, it’s only 10 minutes from Murrieta and Temecula wine country, with all its vineyards, tasting rooms, and retail stores, not to mention a resort casino or two. When the property was used as a dude ranch, the site included several more buildings, which have since been demolished. Right now, in addition to the main house, there’s a barn as well as an older house that is “still very livable,” according to Novick. The property’s caretakers reside there now. “It’s a wonderful property,” says Novick. “The owner loves it, and is looking for the right buyer. Ideally it would be someone who loves horses, but the possibilities are endless.” Wayne ruled over the big screen for decades. He appeared in 179 films, and was a top box-office draw before passing away in 1979 at age 72. His best-known films include “The Quiet Man” (1952), “The Man Who Shot Liberty Valance” (1962), “The Green Berets” (1968), and “True Grit” (1969), for which he received an Academy Award for Best Actor. The post The Duke Was Here: SoCal Ranch Once Owned by John Wayne Available for $8M appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/ranch-once-owned-by-john-wayne-on-the-market/ |
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