Bloglikes - Real Estate https://www.bloglikes.com/c/real-estate en-US Mon, 19 Apr 2021 06:33:36 +0000 Sat, 06 Apr 2013 00:00:00 +0000 FeedWriter Real Estate Ad – Subtlety Not Required http://www.powersiteblog.com/real-estate-ad-subtlety-not-required-2-2/

If you enjoyed this post you’ll certainly enjoy these other ‘Just For Fun’ posts!

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Fri, 16 Apr 2021 12:00:00 +0000 BlogLikes - Find Most Popular Blogs Just For Fun Ad Commercial Park Bench Real Estate Realtor
"With all the new money flooding the metaverse... the kinds of conflicts between neighbors we’re familiar with from the real world have followed." http://althouse.blogspot.com/2021/04/with-all-new-money-flooding-metaverse.html "Take the monastery and the ranch house next door. Both were built by Ogar, an in-demand meta-architect in the metaverse. His real name is Alexandre Vlerick, and he lives in the real-life Lille, France.... Right after he finished the monastery for a German client, he got another request: an American client asking for a ranch house alongside it, on land where he could raise virtual chickens, horses, and a goat. Once the client moved in, he got a red barn, a tractor, and bales of hay. The owner of the monastery wasn’t pleased with the clashing aesthetics, and a familiar homeowners’-association-style conflict erupted. 'The first client was like, "Man, can’t you do it in another place? I’ll swap parcels with you so you have a bigger space far from my place,"' Ogar said. 'But he said no.'... Many early users came to the space because they were excited to hang out virtually with like-minded people who believe in blockchain technology; others were digital artists excited about new platforms.... But for newcomers paying upwards of $100,000 worth of crypto for a parcel, participation in the metaverse might be less about the liberatory potential of blockchain and more about speculating with crypto on digital assets. There is a clear tension between the idea that the metaverse is a utopian blank canvas, socially and visually, and the fact these spaces are based on money-backed property rights.... [T]here is already a kind of nostalgia setting in among longtime users of these platforms... 'The big money is moving in....'"

From "Does the Metaverse Need a Zoning Board? As new crypto investments flood online worlds, conflicts between virtual neighbors are on the rise" (NY Magazine). 

It's a replication of the problem of gentrification. First come the young creatives. They make the place cool and alive. Then come the people who just buy their way in. But what are they buying? They don't really live there... or do they spend time there in some way. Is it art or is it investment? 

In any case, Ogar has a nice job for himself. Speaking of jobs, there must be lawyers. There must be government. Or maybe not. It's a game, isn't it? I don't understand it, but I got to thinking about the board game Risk. 

There's never a point in Risk where government emerges. You just play to the death, every time. Sometimes you feel real emotio 

FROM THE EMAIL: Steve writes:

It's funny that the article didn't mention Neal Stephenson's 1992 novel, Snowcrash (at least, I didn't catch a mention if it was there). In his novel, Stephenson predicted a virtual world called the Metaverse. He also described the cacophony of style arising from the lack of physical limitations and diversity of taste and personalities of the inhabitants. He even discussed some of the rules used (like zoning laws) by the creators and early adopters of the Metaverse to manage all the weirdness. It's an awesome book, but it feels like the kind of thing you wouldn't enjoy, for some reason. Also, I know you don't like mixed metaphors, but I think "cacophony of style" is a keeper.

[Author: noreply@blogger.com (Ann Althouse)]

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Fri, 16 Apr 2021 11:38:22 +0000 BlogLikes - Find Most Popular Blogs Art Games Neal Stephenson Real Estate Steve (the commenter Virtual Reality
The Biggest And Most Expensive House In The World – ‘The One’: Exclusive House Tour (Part 2) http://www.powersiteblog.com/the-biggest-and-most-expensive-house-in-the-world-the-one-exclusive-house-tour-part-2/ The biggest and most expensive house in the world is a 105,000 square foot modern masterpiece in Bel Air created by developer and visionary Nile Niami.

The property features a nightclub, fifty car garage, AMC style theatre, bowling alley, five swimming pools and sits on a plot of land at the top of Bel Air the size of a city block. Brought to you by Producer Michel, join us as we continue the tour of the world’s biggest and most expensive house.

And here is part 1!

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Fri, 16 Apr 2021 10:00:00 +0000 BlogLikes - Find Most Popular Blogs General Interest Most Expensive Real Estate The ONe
California Median Home Price Reaches New All-time High in March as Nearly Two-thirds of Homes Sell Above Asking Price, C.A.R. Reports http://www.powersiteblog.com/california-median-home-price-reaches-new-all-time-high-in-march-as-nearly-two-thirds-of-homes-sell-above-asking-price-c-a-r-reports/ – Existing, single-family home sales totaled 446,410 in March on a seasonally adjusted annualized rate, down 3.5 percent from February and up 19.7 percent from March 2020.

– March’s statewide median home price was $758,990, up 8.6 percent from February and up 23.9 percent from March 2020.

– Year-to-date statewide home sales were up 17.1 percent in March.

Los Angeles, CA – April 16, 2021 (PRNewswire) Fierce competition drove California’s median home price to reach a new record high in March, while the state’s housing market continued its momentum with sales remaining solid heading into the spring homebuying season, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. 

– Infographic:
https://www.car.org/marketing/clients/infographics/March%202021%20Sales%20and%20Price

California median home price reaches new all-time high in March as nearly two-thirds of homes sell above asking price.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 446,410 in March, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2021 if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

March home sales decreased 3.5 percent from 462,720 in February and were up 19.7 percent from a year ago, when 373,070 homes were sold on an annualized basis. While still solid, the monthly sales decline was the third in a row, and the sales pace was the lowest since last July. The near-20 percent sales gain can be attributed partly to weak home sales a year ago as the Coronavirus outbreak abruptly halted the real estate market and economy.

“While intense homebuying interest is the engine that continues to drive housing demand, a shortage of homes for sales is the rocket fuel pushing prices higher across the state. A lack of homes for sale is creating unprecedented market competition, leading to a record share of homes selling above asking price in March,” said C.A.R. President Dave Walsh, vice president and manager of the Compass San Jose office. “With more of the state’s COVID-19 restrictions being lifted in the coming months as we move into the spring home buying season, we should see home sales improve as more prospective home sellers feel comfortable listing their homes for sale.”   

California’s median home price set another new record high in March as the statewide median price surged nearly 24 percent from a year ago. The statewide median home price climbed 8.6 percent on a month-to-month basis to $758,990 in March, up from February’s $699,000 and up 23.9 percent from the $612,440 recorded last March. The year-over-year gain was the highest since October 2013 and it was the eighth straight month that California’s median price registered a double-digit gain.

“The market sentiment is drastically different today compared to a year ago at the onset of the pandemic,” said C.A.R. Vice President and Chief Economist Jordan Levine. “With the U.S. economy positioned to grow at the fastest pace since the early 1980s and mortgage rates trending down again in the past week, consumer confidence will improve further, so in the coming months, we should continue to see a solid bounceback from last year as the market maintains its momentum.”

Other key points from C.A.R.’s March 2021 resale housing report include:

  • At the regional level, all major regions, except for the Central Valley, experienced a double-digit sales surge from a year ago. The San Francisco Bay Area had the highest year-over-year gain, at a growth rate of 35.0 percent from March 2020. The Central Coast (31.8 percent), Far North (26.1 percent), and Southern California regions (23.3 percent) also experienced a sales increase of more than 20 percent from last year. The Central Valley (9.6 percent) was the only region with a sales gain of less than 10 percent on a year-over-year basis.
  • Home sales in resort markets remained robust in March, with Big Bear, Lake Arrowhead, and South Lake Tahoe all increasing more than 50 percent from a year ago. South Lake Tahoe was particularly strong last month, with sales rising above the prior year by 128.1 percent. Lake Arrowhead also had a strong month with sales growing near triple-digits year-over-year, while Big Bear increased by 54.8 percent and Mammoth Lakes jumped by 16.7 percent. Housing demand in resort markets does not appear to be easing despite the state lifting more restrictions and the Coronavirus outbreak seemingly under control.
  • Nearly nine out of ten counties — 44 of 51 — tracked by C.A.R. had a year-over-year increase in closed sales, with Plumas having the strongest gain of 208.3 percent last year, followed by Del Norte (107.1 percent), and Glenn (68.8 percent). Counties with an increase from last year averaged a gain of 32.9 percent in March compared to 26.6 percent in February. Seven counties either were unchanged or experienced a sales decline from last year, with Yuba dropping the most by 25.3 percent, followed by Mono (-25.0 percent) and Mendocino (-18.8 percent).
  • Every major region set a new record-high median price in March 2021 and continued to increase from last year by double digits. The Central Coast region posted the highest year-over-year growth rate of 26.4 percent, followed by the San Francisco Bay Area (21.3 percent), Southern California (20.5 percent), the Central Valley (18.6 percent) and the Far North (12.4 percent).
  • All 51 counties tracked by C.A.R. reported a gain in median price on a year-over-year basis, with 45 of them increasing more than 10 percent. Mono had the largest price growth of 155.6 percent in March, followed by Santa Barbara (66.7 percent) and Monterey (36.9 percent). Twenty-seven counties set a new record-high median price in March. San Francisco had the smallest price growth of all counties with a 6.0 percent increase from March 2020, followed by Siskiyou (6.4 percent) and Tehama (6.8 percent).
  • The Unsold Inventory Index (UII) dropped to 1.6 months in March from 2.0 months in February and was down sharply from a year ago, when there was 2.7 months of housing inventory. The index indicates the number of months it would take to sell the supply of homes on the market at the current rate of sales.
  • Active listings fell 51.1 percent in March from last year — the third consecutive month that listings declined more than 50 percent. On a month-to-month basis, for-sale properties inched up by 5.3 percent in March and should climb further in the coming months as the market moves into the spring homebuying season, while the economy continues to improve.
  • The available supply of homes for sale continued to tighten up across the state, with all major regions near their record low levels. Forty-nine of the 51 counties reported by C.A.R. recorded a decline in active listings on a year-over-year basis in March, and 30 of them dropped more than half of what they had a year ago. Yuba had the biggest drop in March, with active listings plunging 77.9 percent from last year. Calaveras (-73.5 percent) and Amador (-71.6 percent) were the other two counties with more than a 70 percent decline in for sale properties at the end of the first quarter. San Francisco (95.3 percent) and Sonoma (8.7 percent) were the only counties in California with an increase in active listings from the prior year.
  • The median number of days it took to sell a California single-family home hit a record low of 8 days in March, down from 15 days in March 2020.
  • C.A.R.’s statewide sales-price-to-list-price ratio* posted a record high in March at 102.2 percent and was 100 percent in March 2020.
  • The statewide average price per square foot** for an existing single-family home remained elevated. At $357, March’s price per square foot was an all-time high. The price per square foot was $288 in March a year ago.
  • The 30-year, fixed-mortgage interest rate averaged 3.08 percent in March, down from 3.45 percent in March 2020, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 2.78 percent, compared to 3.16 percent in March 2020.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower end or the upper end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 50 counties.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

March 2021 County Sales and Price Activity (Regional and condo sales data not seasonally adjusted) March 2021 Median Sold Price of Existing Single-Family Homes Sales State/Region/County March
2021
Feb.2021 March2020 Price MTM% Chg Price YTY% Chg  Sales MTM% Chg  Sales YTY% Chg Calif. Single-family home $758,990 $699,000 $612,440 8.6% 23.9% -3.5% 19.7% Calif. Condo/Townhome $552,500 $530,000 $495,000 4.2% 11.6% 42.1% 39.3% Los Angeles Metro Area $680,000 $649,000 $556,250 4.8% 22.2% 36.2% 24.5% Central Coast $871,840 $828,500 $690,000 5.2% 26.4% 35.3% 31.8% Central Valley $415,000 $405,000 $350,000 2.5% 18.6% 33.6% 9.6% Far North $350,000 $335,000 $311,250 4.5% 12.4% 33.3% 26.1% Inland Empire $495,000 $470,000 $399,000 5.3% 24.1% 37.6% 21.5% San Francisco Bay Area $1,225,000 $1,151,500 $1,009,790 6.4% 21.3% 51.3% 35.0% Southern California $705,000 $675,000 $585,000 4.4% 20.5% 34.9% 23.3% San Francisco Bay Area Alameda $1,163,000 $1,100,000 $970,500 5.7% 19.8% 51.1% 45.1% Contra Costa $920,000 $817,500 $711,000 12.5% 29.4% 50.2% 34.6% Marin $1,627,500 $1,540,000 $1,376,000 5.7% 18.3% 47.1% 16.3% Napa $929,000 $931,500 $764,000 -0.3% 21.6% 45.6% 52.3% San Francisco $1,755,000 $1,786,400 $1,655,000 -1.8% 6.0% 81.5% 56.1% San Mateo $1,985,000 $1,900,000 $1,750,000 4.5% 13.4% 47.2% 29.7% Santa Clara $1,600,000 $1,486,250 $1,400,000 7.7% 14.3% 52.0% 44.3% Solano $549,000 $509,750 $457,950 7.7% 19.9% 60.7% -3.7% Sonoma $765,000 $740,000 $694,000 3.4% 10.2% 37.9% 36.4% Southern California Los Angeles $668,220 $664,120 $567,910 0.6% 17.7% 34.3% 26.2% Orange $1,025,000 $995,000 $882,000 3.0% 16.2% 39.3% 30.4% Riverside $535,000 $519,500 $435,000 3.0% 23.0% 42.6% 22.5% San Bernardino $412,000 $389,900 $316,000 5.7% 30.4% 29.0% 19.7% San Diego $800,000 $765,000 $675,000 4.6% 18.5% 29.3% 18.1% Ventura $770,750 $750,000 $705,000 2.8% 9.3% 28.6% 15.6% Central Coast Monterey $931,000 $820,000 $680,000 13.5% 36.9% 26.3% 27.0% San Luis Obispo $737,500 $700,000 $619,000 5.4% 19.1% 28.7% 19.4% Santa Barbara $1,075,000 $1,174,080 $645,000 -8.4% 66.7% 55.0% 47.2% Santa Cruz $1,100,000 $1,058,000 $925,000 4.0% 18.9% 30.7% 41.9% Central Valley Fresno $350,000 $350,000 $282,500 0.0% 23.9% 31.6% 7.0% Glenn $325,000 $319,500 $288,500 1.7% 12.7% 68.8% 68.8% Kern $310,000 $295,000 $259,480 5.1% 19.5% 39.2% 36.0% Kings $292,500 $280,000 $250,000 4.5% 17.0% 50.0% 17.7% Madera $365,000 $354,500 $285,000 3.0% 28.1% 19.5% 17.7% Merced $318,000 $318,750 $280,000 -0.2% 13.6% 86.8% 15.4% Placer $610,000 $599,500 $500,000 1.8% 22.0% 48.6% 10.3% Sacramento $485,000 $463,000 $400,000 4.8% 21.3% 25.3% 7.8% San Benito $765,000 $700,000 $605,000 9.3% 26.4% 55.9% 29.3% San Joaquin $457,750 $436,300 $395,000 4.9% 15.9% 32.8% -7.7% Stanislaus $407,500 $405,000 $340,000 0.6% 19.9% 35.4% 5.8% Tulare $306,650 $288,500 $254,480 6.3% 20.5% 19.5% 2.8% Far North Butte $406,000 $397,000 $365,000 2.3% 11.2% 38.7% 6.5% Lassen $252,000 $208,250 $230,000 21.0% 9.6% 60.0% 68.4% Plumas $385,000 $329,500 $287,500 16.8% 33.9% 27.6% 208.3% Shasta $345,000 $329,950 $310,000 4.6% 11.3% 29.3% 26.6% Siskiyou $259,500 $322,500 $244,000 -19.5% 6.4% 83.3% 0.0% Tehama $299,000 $299,000 $280,000 0.0% 6.8% 8.2% 47.2% Other Calif. Counties Amador $430,000 $406,280 $335,000 5.8% 28.4% 27.8% 16.9% Calaveras $435,850 $441,500 $352,000 -1.3% 23.8% 19.7% -9.0% Del Norte $309,000 $359,000 $233,500 -13.9% 32.3% 52.6% 107.1% El Dorado $652,500 $577,500 $507,500 13.0% 28.6% 37.7% 31.3% Humboldt $359,000 $360,000 $330,000 -0.3% 8.8% 20.2% 21.7% Lake $333,000 $326,500 $275,500 2.0% 20.9% -15.1% 4.3% Mariposa $421,360 $397,500 $335,000 6.0% 25.8% -33.3% 45.5% Mendocino $510,000 $525,000 $382,810 -2.9% 33.2% 6.1% -18.8% Mono $1,700,000 $1,435,000 $665,000 18.5% 155.6% -35.7% -25.0% Nevada $530,000 $519,500 $425,000 2.0% 24.7% 26.9% 7.0% Sutter $364,250 $395,000 $318,050 -7.8% 14.5% 27.7% 7.1% Tuolumne $343,600 $375,000 $300,000 -8.4% 14.5% 9.9% 25.4% Yolo $530,000 $520,000 $463,500 1.9% 14.3% 29.2% 22.3% Yuba $359,500 $370,000 $309,440 -2.8% 16.2% 38.8% -25.3%

r = revised
NA = not available

March 2021 County Unsold Inventory and Days on Market (Regional and condo sales data not seasonally adjusted) March 2021 Unsold Inventory Index Median Time on Market State/Region/County March
2021
Feb.
2021
March2020 March2021 Feb.2021 March2020 Calif. Single-family home 1.6 2.0 2.7 8.0 10.0 15.0 Calif. Condo/Townhome 1.5 2.1 2.3 10.0 13.0 14.0 Los Angeles Metro Area 1.6 2.0 2.8 8.0 11.0 19.0 Central Coast 1.8 2.4 3.0 9.0 13.0 17.0 Central Valley 1.6 1.9 2.6 6.0 7.0 13.0 Far North 2.2 2.8 4.2 23.0 37.0 31.0 Inland Empire 1.5 2.0 3.0 10.0 15.0 29.0 San Francisco Bay Area 1.6 2.1 2.1 9.0 10.0 12.0 Southern California 1.6 2.0 2.7 8.0 10.0 17.0 San Francisco Bay Area Alameda 1.4 1.7 1.7 8.0 8.0 10.0 Contra Costa 1.3 1.7 1.9 7.0 7.5 10.0 Marin 1.5 2.1 2.1 16.5 22.0 25.0 Napa 2.7 3.8 5.5 42.0 38.0 37.0 San Francisco 1.6 2.1 1.5 11.0 13.0 r 14.0 San Mateo 1.9 2.4 2.0 8.0 9.0 10.0 Santa Clara 1.7 2.2 2.0 8.0 8.0 8.0 Solano 1.1 1.6 2.4 24.0 29.0 28.0 Sonoma 2.3 3.0 3.6 32.0 38.0 37.0 Southern California Los Angeles 1.7 2.1 2.6 8.0 10.0 15.0 Orange 1.6 2.0 2.5 6.0 9.0 11.0 Riverside 1.4 2.0 2.9 10.0 14.0 29.0 San Bernardino 1.6 2.0 3.3 9.0 15.0 30.0 San Diego 1.5 1.8 2.4 6.0 7.0 10.0 Ventura 1.5 1.8 3.9 22.0 24.0 38.0 Central Coast Monterey 2.1 2.8 3.7 11.0 14.0 21.0 San Luis Obispo 1.7 2.1 3.4 8.0 12.0 20.0 Santa Barbara 1.5 2.4 1.7 8.5 13.0 20.0 Santa Cruz 2.1 2.5 3.4 11.0 14.5 11.0 Central Valley Fresno 1.7 2.0 3.0 6.0 7.0 14.0 Glenn 1.0 2.4 3.8 10.0 12.5 27.5 Kern 1.6 2.2 2.7 7.0 9.0 15.0 Kings 1.8 2.7 2.8 4.0 6.0 31.0 Madera 2.4 2.4 5.1 12.0 10.0 30.5 Merced 1.3 2.3 3.1 7.0 10.0 23.0 Placer 1.4 1.8 2.2 6.0 6.0 10.0 Sacramento 1.5 1.6 2.1 6.0 6.0 8.0 San Benito 2.2 3.3 3.6 8.0 11.0 19.0 San Joaquin 1.8 1.9 2.5 6.0 7.0 16.0 Stanislaus 1.6 1.8 2.6 6.0 7.0 11.0 Tulare 1.9 2.0 3.1 8.0 11.5 20.0 Far North Butte 2.0 2.4 2.5 7.0 13.5 10.0 Lassen 2.6 3.3 6.4 112.0 106.0 165.0 Plumas 4.4 4.7 18.4 93.0 96.0 189.0 Shasta 1.9 2.5 3.8 11.0 27.0 21.0 Siskiyou 2.9 4.8 5.2 45.5 44.0 70.0 Tehama 2.2 2.7 6.1 57.0 77.0 67.0 Other Calif. Counties Amador 1.8 2.1 4.6 21.0 12.0 28.0 Calaveras 2.0 2.0 4.0 58.0 57.0 115.5 Del Norte 2.6 3.8 10.0 97.0 167.0 156.0 El Dorado 1.6 2.1 3.6 10.0 13.0 29.5 Humboldt 2.6 2.4 4.8 9.0 10.0 31.0 Lake 2.9 2.4 5.1 19.0 35.5 65.5 Mariposa 3.6 1.9 8.3 56.0 11.5 40.0 Mendocino 3.2 3.2 4.2 39.5 61.0 85.5 Mono 5.1 2.9 5.3 47.0 62.5 135.0 Nevada 2.1 2.4 3.5 13.0 35.5 22.0 Sutter 1.4 1.8 2.6 7.0 10.0 12.5 Tuolumne 2.7 2.4 4.8 21.0 17.5 65.0 Yolo 1.4 1.6 3.0 7.0 7.5 10.0 Yuba 1.4 2.2 2.5 8.0 12.0 16.0

r = revised
NA = not available

SOURCE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

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Fri, 16 Apr 2021 09:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News California Car News Real Estate
As Lease Addendums Rise, Marijuana Businesses Adapt by Purchasing Commercial Property http://www.powersiteblog.com/as-lease-addendums-rise-marijuana-businesses-adapt-by-purchasing-commercial-property/
  • Members residing in states with legalized marijuana saw an increase in demand for warehouses.
  • Nearly half of those in states that legalized marijuana prior to 2016 have seen addendums added to leases restricting growing on properties.
  • There is an increase in purchasing properties for marijuana-related businesses instead of leasing.
  • Washington, D.C. – April 16, 2021 (nar.realtor) As marijuana becomes legalized in more parts of the country and as an increasing number of states grow, harvest, store, sell and allow consumption, the nation’s real estate industry has felt the effects.

    According to a new report from the National Association of Realtors®, there has been a noticeable rise in demand for warehouses, land and store fronts used for marijuana. The 2021 survey, Marijuana and Real Estate: A Budding Issue, examines the legality of marijuana in terms of medical only, legalized medical and recreational prior to or after 2016.

    More than one-third of respondents in states where marijuana has been legalized the longest said inventory was tight for multiple reasons and cited the marijuana industry as one of the factors. This is also true for those in areas where marijuana was more recently legalized, as 23% of Realtors® also partially blamed the marijuana industry for the limited inventory.

    “The dynamics of marijuana have been far-reaching over the past year, which is evident when you see how it has impacted real estate,” said Jessica Lautz, vice president of demographics and behavioral insights for NAR. “As the marijuana laws continue to evolve, Realtors® have witnessed increased demand for commercial properties to store, grow and sell marijuana.”

    Additionally, 29% of commercial members in states that legalized recreational marijuana during the past four years reported growth in property purchasing over leasing in the last year. Nearly half of those in states that legalized both medical and recreational marijuana before 2016 have experienced addendums added to residential leases restricting growing on properties, compared to one quarter or less in other states.

    Sixty-nine percent of commercial members in states where only medical marijuana is lawful said that no additional addendums were inserted to their leases concerning marijuana plants. This is compared to 45% to 55% of those where medical and recreational use are legal.

    Possibly in an effort to steer clear of landlord addendums, some business owners outright bought property rather than leasing. In these cases, business owners no longer had to adhere to marijuana rules or regulations that they may have considered burdensome. This trend was seen the most in states where marijuana is newly legal.

    Among respondents in states where recreational marijuana is legal, they more often answered that homeowner associations regularly had some policies or restrictions in place pertaining to smoking and growing the product in common areas or exposed areas. Nearly half of homeowner associations were against smoking in common areas, while about two-fifths prohibited growing in mutual open areas, such as a private yard without fences.

    Those surveyed within states with only prescription marijuana said there often were not any homeowner association rules and regulations related to marijuana.

    “We saw that a number of property owners at some point in the past had difficulty leasing their property after a previous tenant consumed marijuana there over an extended period,” said Lautz. “To avoid repeats of those issues, landlords have implemented various guidelines that place numerous restrictions on the use of marijuana.”

    Lautz says property owners who have imposed such constraints tend to reside or own property in states where marijuana has been legal the longest.

    “As the marijuana industry evolves, both commercial and residential landlords are balancing efforts to profit from the progressions, while also ensuring that their property remains desirable and at a high value,” Lautz continued.

    Methodology

    The 2021 Marijuana and Real Estate survey was sent through email in March 2021 to a random sample of 75,000 NAR members who practice residential real estate and 72,000 NAR members who practice commercial real estate. The survey received 8,320 responses for an overall response rate of 5.7%.

    The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

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    Fri, 16 Apr 2021 08:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News News Real Estate
    A triplex penthouse that was once Miami's most expensive listing just sold at a 27% discount after 6 years on the market. Take a look inside. http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/I8JwFfCP09c/most-expensive-condo-miami-continuum-penthouse-photos-tour-2019-5 The penthouse offers stunning views of South Beach and downtown Miami.

    Katie Warren/Business Insider

    • Real-estate developer Ian Bruce Eichner sold his Miami Beach penthouse for $35 million after 6 years on the market, per the WSJ.
    • The 11,031-square-foot condo occupies three floors at the top of a 42-story tower.
    • I toured the penthouse in May 2019, when it was the priciest listing in Miami-Dade County.
    • See more stories on Insider's business page.
    Real-estate developer Ian Bruce Eichner has sold his three-level Miami Beach penthouse for $35 million, six years after he put it on the market, Candace Taylor reported for The Wall Street Journal. continuum miami

    Douglas Elliman Real Estate

    The 11,031-square-foot condo, at the top of the 42-story Continuum tower in the South of Fifth neighborhood, was Eichner's personal penthouse. He first put it on the market it in 2015, and it was most recently listed for $39.9 million, per the Journal.

    Eichner, who founded the Continuum Company, finished the Continuum condo in the early 2000s. 

    Before selling it, Eichner had been renting out the penthouse for up to $200,000 per month, the developer told the Journal. 

    In May 2019, I got a tour of the Continuum penthouse, which was then the most expensive condo for sale in Miami-Dade County, listed at $48 million. penthouse miami beach

    Katie Warren/Business Insider

    The final sale price was a roughly 27% discount from its 2019 asking price.

    When I visited, the penthouse was listed with Eloy Carmenate and Mick Duchon of Douglas Elliman. Both agents are now at Corcoran and held the listing there, according to the Journal. 

     

    During my visit, my first look at the triplex penthouse was the grand entryway. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    During my tour, I found that the living room, pictured below, was decorated in neutrals with black and gold accents. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    The formal dining room stuck to the white-and-marble theme. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    The eat-in kitchen has stainless-steel appliances and marble countertops to match the floors ... miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    ... as well as three ovens and a built-in espresso machine. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    The penthouse has seven bedrooms, each of which has floor-to-ceiling windows and sweeping views. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    This bedroom opens up to a long terrace that connects to the master suite. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    In the master suite, wraparound floor-to-ceiling windows fill the room with sunlight and open up to views of the ocean. penthouse miami beach

    Katie Warren/Business Insider

    Source: Douglas Elliman

    A private terrace off the suite overlooks South Beach and downtown Miami. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    It also offers views of Fisher Island, the richest ZIP code in the US, where the average income is $2.2 million and the beaches have sand imported from the Bahamas. fisher island miami

    Katie Warren/Business Insider

    Source: Insider

    The master bathroom features marble floors, double vanities, and large mirrors. penthouse miami beach

    Katie Warren/Business Insider

    Source: Douglas Elliman

    A marble soaking tub overlooks the ocean. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    The bathroom also has a walk-in double shower and its own small terrace. miami beach penthouse

    Katie Warren/Business Insider

    Source: Douglas Elliman

    And then there's the penthouse's main terrace, a massive 6,091-square-foot outdoor space. miami beach penthouse

    Katie Warren/Business Insider

    Among the home's other amenities is a screening room.

    The penthouse also has a private pool, which sits on the level above the main terrace and overlooks the Atlantic Ocean. miami beach penthouse

    Katie Warren/Business Insider

    Eichner, who's based in New York City, told the Journal that he was looking for another vacation home in the Miami area.

    Read the original article on Business Insider

    [Author: kwarren@insider.com (Katie Warren)]

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    Fri, 16 Apr 2021 03:19:14 +0000 BlogLikes - Find Most Popular Blogs Real Estate Features Miami Miami Beach Florida Miami real estate Penthouse On The Road Arts & Culture BI Select
    Fannie adjustables dive to 1.75% for first 5-10 years https://www.dailynews.com/2021/04/15/fannie-adjustables-dive-to-1-75-for-first-5-10-years/ The lowest point for 30-year fixed rates was 2.65% on Jan. 7.

    Today, Freddie Mac’s survey shows the average 30-year fixed-rate at 3.04%.

    Even though fixed rates have trended slightly lower in the past few weeks, that’s 39 whopping basis points higher than three short months ago.

    Home prices continue to skyrocket. How can homebuyers and refinance candidates possibly keep pace with the lowest, most affordable fixed rates ever enjoyed?

    Fannie Mae is offering a call to ARMS to keep payments as affordable as possible. Rates for adjustable-rate mortgages, or ARMS, might be running more than 1% lower than those for a 30-year fixed.

    Specifically, these are 30-year mortgages with an option to lock in your interest rate for the first five, seven or 10 years.

    Here is how it works.

    After the initial lock period, mortgage rates are subject to rate changes calculated annually for the remainder of the 30-year mortgage contract. So, a 5/1 ARM would recalculate at the end of the 60thmonth, 72nd month, 84th month, etc. A 7/1 ARM would start recalculating after 84 months and the 10/1 ARM would recalculate after 120 months.

    Out with the old scandal-driven London Interbank Offering Rate, or LIBOR, and in with the new Secured Overnight Financing Rate, or SOFR, which Fannie Mae, Freddie Mac and most mortgage lenders are now using.

    For example, say you take a 5-year adjustable with a $500,000 loan with zero points with an initial interest rate of 1.75%. Your monthly principal and interest payment for the first five years would be a nominal $1,786. Assuming your make regular on-time payments and don’t pay any extra principal down, your remaining mortgage balance would be roughly $433,770 after the first five years.

    The SOFR index currently is close to zero at 0.01%. Fannie Mae adds a profit margin to the index to arrive at your new rate. In this example, it’s a 3% profit margin.

    Assuming the SOFR index rate stays at .01% five years from now, your interest rate in year six would be 4.76%, or 3.01% higher. Your new principal and interest payment would be roughly $2,059, a $273 payment increase over the first five years.

    Compare that to today’s $500,000, zero-point 30-year fixed mortgage at 2.875%. The monthly P & I for all 360 payments is roughly $2,074.

    The fixed-rate mortgage payment is $288 higher for the first 60 months compared to the 1.75% start rate on the adjustable mortgage, saving $17,280 in total mortgage payments in the first five years. Not bad.

    Compared to the zero-point 5-year conforming adjustable, the 1.75% starting rate for a 7-year adjustable Fannie Mae mortgage has a cost of roughly 0.75 of a point. The 10-year, 1.75% starting rate has a cost of roughly 1.75% points for well-qualified borrowers.

    Fannie Mae high-balance loan amounts ($548,251 to $822,375) are slightly more expensive.

    This financial instrument carries a 6% life-cap rate over the start rate. Assuming an initial interest rate of 1.75%, your rate can never go higher than 7.75%.

    Compared to the certainty of a fixed rate, is the initial adjustable-rate-mortgage payment savings worth the uncertainty it carries if and when your rate moves higher?

    It depends. If you see yourself moving up or moving out within the five, seven or 10 years, this is the affordable deal of the decade.

    If this will cause you anxiety and sleepless nights awfulizing as to why you armed yourself instead of fixing yourself, don’t do it.

    If you are somewhere in the middle, it would be a good idea to get the smartest person you know and trust to be your sounding board. Provide all of the what-ifs in the hopes of coming up with the best course of action for you and yours.

    The lowest jumbo adjustable-rate-mortgages I could find for loans of $548,250 or more in the Inland Empire and over $822,375 in Los Angeles and Orange counties start at 2.375% on a 5/1, 2.5% on a 7/1, and 2.625% on a 10/1. This particular mortgage works off the Wall Street Prime Rate (currently 3.25%) with a 1.25% profit margin added per annual adjustment.

    Freddie Mac rate news: The 30-year fixed-rate averaged 3.04%, 9 basis points lower than last week. The 15-year fixed-rate averaged 2.35%, 7 basis points lower than last week.

    The Mortgage Bankers Association reported a 3.7% decrease in mortgage application volume from the previous week.

    Bottom line: Assuming a borrower gets the average 30-year fixed-rate on a conforming $548,250 loan, last year’s payment was $81 more than this week’s payment of $2,323.

    What I see: Locally, well-qualified borrowers can get the following fixed-rate mortgages with a 1-point cost: A 30-year FHA at 2.25%, a 15-year conventional at 1.99%, a 30-year conventional at 2.625%, a 15-year conventional high-balance ($548,251 to $822,375) at 2.125%, a 30-year conventional high-balance at 2.875% and a 30-year fixed jumbo at 3%.

    Eye catcher loan of the week: A no-cost 30-year fixed-rate at 3%.

    Jeff Lazerson is a mortgage broker. He can be reached at 949-334-2424 or jlazerson@mortgagegrader.com. His website is www.mortgagegrader.com.

    Related Articles ]]>
    Thu, 15 Apr 2021 16:06:33 +0000 BlogLikes - Find Most Popular Blogs Business Real Estate News Housing Los Angeles Sport Soccer Madonna Mortgage ARM Freddie Mac FHA Fannie Mae Hidden Hills Fannie Mae Freddie Mac Fannie the Mortgage Bankers Association Top Stories LADN Top Stories OCR Top Stories PE Top Stories IVDB Top Stories RDF Top Stories Sun Top Stories Breeze Top Stories LBPT Top Stories WDN Top Stories SGVT Top Stories PSN Jeff Lazerson Today Freddie Mac London Interbank Offering Rate
    ‘Registered’ status gives home sellers more marketing options https://www.dailynews.com/2021/04/15/registered-status-gives-home-sellers-more-marketing-options/ The California Multiple Listing Service has come up with a variety of new options for how home sellers market their homes.

    Last May, the CRMLS began offering “Coming Soon” listings, allowing sellers to share their home’s features before they’re ready for showings.

    And in August, the listing service introduced another feature: the “Registered” status.

    Usually, the Registered status is used after you’ve chosen your agent and decided all of the details regarding price and terms. You’re just not quite ready to get the photos taken and welcome buyers to come visit.

    To qualify as a Registered listing, there must be a valid, fully executed listing agreement for the property, and the seller must agree that the property will not be actively marketed.

    In addition, no commission can be publicly offered while a home is in Registered status, and showings are limited to clients of the listing broker. On the other hand, the clock measuring how many days a home is on the market doesn’t start while a home is in Registered status.

    For home sellers, this is yet another way to get your intention to sell out to at least a small audience – the brokerage with whom your agent is associated.

    Technically, your broker holds the California Department of Real Estate license of record and all Registered listings falling under that license can be shared among all the agents under his or her umbrella. This means that Registered listings can be promoted at brokerage office meetings and in closed social media groups limited to the brokers and their licensees.

    Unlike Coming Soon status, there is no limit to the amount of time a listing can stay in Registered status.  And unlike Coming Soon listings, Registered listings aren’t available to all CRMLS members.

    In contrast, a Coming Soon listing is strictly barred from being shown to anybody, even with a signed Agency Disclosure. But a Registered listing can be shown to a client within the listing brokerage.  And sellers can review, negotiate and even accept offers while in either Registered or Coming Soon status.

    Of course, there’s a risk of not getting as much money if you accept an offer before switching to “Active” status, where your property gets exposed to the full MLS and it gets the widest possible promotion. But you may save on stress and get it sold faster, especially in a hot sellers’ market like we have now.

    For buyers, if your agent is a part of a brokerage where Registered listing information is shared, you have the inside track on opportunities that are only available to a relatively small number of people.

    For buyers’ agents, this means you need to stay current on the Registered listings within your brokerage. And if it’s not a current practice of your broker to share this information, I’d be asking them why? And can I get an update of our Registered listings as soon as the information is entered into CRMLS?

    When you find a Registered listing that might fit the bill for one of your buyers, you have to have a signed Agency Disclosure with the brokerage, along with all the COVID-19 paperwork before you can show it.

    When sellers are interviewing agents to list their house, they should make sure to discuss how registering their listing might fit into their timeframe and marketing scheme, and how it might be used to their advantage either on its own or in conjunction with the Coming Soon status.

    Leslie Sargent Eskildsen is an agent with Realty One Group West. She can be reached at 949-678-3373 or leslie@leslieeskildsen.com.

    Related Articles ]]>
    Thu, 15 Apr 2021 15:10:56 +0000 BlogLikes - Find Most Popular Blogs Business Real Estate News Housing Sport Soccer Madonna Mls Hidden Hills Top Stories LADN Top Stories OCR Top Stories PE Top Stories IVDB Top Stories RDF Top Stories Sun Top Stories Breeze Top Stories LBPT Top Stories WDN Top Stories SGVT Top Stories PSN Leslie Sargent Eskildsen California Department of Real Estate California Multiple Listing Service
    The Guide to Escalation Clauses in Real Estate https://realestate.usnews.com/real-estate/articles/the-guide-to-escalation-clauses-in-real-estate Thu, 15 Apr 2021 11:00:49 +0000 BlogLikes - Find Most Popular Blogs Real Estate The Biggest And Most Expensive House In The World – ‘The One’: Exclusive House Tour (Part 1) http://www.powersiteblog.com/the-biggest-and-most-expensive-house-in-the-world-the-one-exclusive-house-tour-part-1/ The biggest and most expensive house in the world is a 105,000 square foot modern masterpiece in Bel Air created by developer and visionary Nile Niami.

    The property features a nightclub, fifty car garage, AMC style theatre, bowling alley, five swimming pools and sits on a plot of land at the top of Bel Air the size of a city block. Brought to you by Producer Michel, join us as we tour the world’s biggest and most expensive house in this exclusive video.

    And check back tomorrow for part 2!

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    Thu, 15 Apr 2021 10:00:00 +0000 BlogLikes - Find Most Popular Blogs General Interest Most Expensive Real Estate The ONe
    Redfin Reports March Was the Hottest Month in Housing History http://www.powersiteblog.com/redfin-reports-march-was-the-hottest-month-in-housing-history/ The housing market set a slew of records for prices, home-selling speed and competition in March, making it the hottest month for housing since at least 2012

    Seattle, WA – April 15, 2021 (PRNewswire) (NASDAQ: RDFN) — The national median home-sale price hit a record high of $353,000 in March, up 17% from 2020 and a record high rate of growth, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The housing market set several other records in March, even considering the fact that year-over-year comparisons are now looking at the start of the pandemic:

    • The number of homes for sale fell to a record low, with a record year-over-year drop of 29%.
    • The typical home sold in just 25 days, a record low.
    • 42% of homes sold above their list price, a record high.
    • The average sale-to-list ratio, a measure of how close homes are selling to their asking prices, hit a record high, passing 100% for the first time.

    Year-over-year comparisons may more reflect the fact that in March 2020, stay-at-home-orders halted both home-buying and selling activity. They don’t necessarily reflect how the housing market has changed over the past year.

    “My family is looking for a home to buy in the Washington, D.C. area, so I know first-hand that the house hunt feels a lot like spinning the roulette wheel each week,” said Redfin Lead Economist Taylor Marr. “So why would we buy into the toughest market I’ve ever seen? Despite the intense competition and high prices we face, I still see more big gains to be made in home equity. Fundamentals like low mortgage rates and high demand for housing are fueling the record-high price gains, so I don’t believe that homes are overvalued. Waiting for the market to cool could take many months, and at that point we may have missed out on the opportunity to benefit from these super-low mortgage rates and price gains in the year ahead.”

    Median sale prices increased from a year earlier in all but two of the 85 largest metro areas Redfin tracks. The only places prices didn’t increase were Honolulu, where they fell 4.7% from a year ago and San Francisco, where they were down 1.6%. The largest price increases were in Austin, TX (+28%), Fresno, CA (+23%) and North Port, FL (+23%), three popular destinations for newly-remote workers who have been leaving the most expensive metro areas during the pandemic in search of more affordable locales.

    Market Summary March 2021 Month-Over-Month Year-Over-Year Median sale price $353,000 5.3% 16.7% Homes sold, seasonally-adjusted 597,300 -2.4% 10.1% Pending sales, seasonally-adjusted 537,700 -5.5% 22.1% New listings, seasonally-adjusted 527,100 -1.5% -7.1% All Homes for sale, seasonally-adjusted 1,458,600 -3% -28.9% Median days on market 25 -7 -19 Months of supply 1.1 -0.5 -1.5 Sold above list 42.0% 5.9 pts 16.6 pts Median Off-Market Redfin Estimate $337,500 0% 15.4% Average Sale-to-list 100.6% 0.8 pts 2.0 pts Average 30-year fixed mortgage rate 3.08% 0.27 pts -0.37 pts † – “pts” = percentage-point change

    The number of homes sold in March was up from a year earlier in most of the 85 largest metro areas Redfin tracks, but 11 metros did see declines. The largest gains in sales were in New York (+58%), San Jose (+56%) and San Francisco (+55%). The metro areas where home sales fell the most were Rochester, NY (-9%), Grand Rapids, MI (-9%) and Dayton, OH (-7%). The number of homes for sale in all three of these metro areas has been falling by around 30% year over year for most of this year, so the drop in sales is likely due largely to a lack of supply.

    Active listings—the count of all homes that were for sale at any time during the month—fell 29% year over year to their lowest level on record. This was the largest year-over-year drop on record and the 20th-straight month of declines.

    Only four of the 85 largest metros tracked by Redfin posted a year-over-year increase in the count of seasonally-adjusted active listings of homes for sale: San Francisco (+34%), San Jose (+20%), Oakland, CA (+8%) and Los Angeles (+3%). The biggest year-over-year declines in active housing supply in March were in Salt Lake City (-66%), Baton Rouge, LA (-59%) and Allentown, PA (-52%).

    New listings of homes for sale fell 7% in March from a year earlier. Despite the ongoing decline in new listings of homes for sale, pending sales were still up 22% from 2020.

    The housing market was more competitive in March than any time since the start of Redfin’s national housing data in 2012.

    The typical home that sold in March went under contract in 25 days—19 days fewer than a year earlier and the fastest pace on record.

    In March a record-high 42% of homes sold above list price, the largest share on record. If this measure follows the typical seasonal pattern, it may continue to hit new record highs in April, May and June.

    The average sale-to-list price ratio exceeded 100% for the first time on record in March. This measure also typically peaks in June, so it may hit additional record highs for the next three months if the market does not cool down.

    To read the full report, including graphs and additional metro-level data highlights, please visit: https://www.redfin.com/news/housing-market-hottest-month-ever-in-march/.

    About Redfin
    Redfin (www.redfin.com) is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. We sell homes for more money and charge half the fee. We also run the country’s #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Since launching in 2006, we’ve saved customers nearly $1 billion in commissions. We serve more than 95 markets across the U.S. and Canada and employ over 4,100 people.

    For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email press@redfin.com. To view Redfin’s press center, click here.

    SOURCE Redfin

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    Thu, 15 Apr 2021 09:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News News Real Estate Redfin
    Secretary Fudge Joins NAR, The Memorial Foundation to Honor, Build Upon Dr. King’s Dream of Fair Housing http://www.powersiteblog.com/secretary-fudge-joins-nar-the-memorial-foundation-to-honor-build-upon-dr-kings-dream-of-fair-housing/ Washington, D.C. – April 15, 2021 (nar.realtor) Department of Housing and Urban Development Secretary Marcia Fudge joined leadership from the National Association of Realtors® and The Memorial Foundation(link is external) on Thursday for a conversation about fair housing and Dr. Martin Luther King, Jr.’s enduring legacy in the fight to secure equal housing opportunity in America. “The Past, Present, and Future of Fair Housing(link is external)” was held as the nation continues its recognition of Fair Housing Month.

    “NAR is a proud champion for fair housing, but as for much of America, it’s been a journey to get to this point,” NAR President Charlie Oppler, a Realtor® from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby’s International, said Thursday. “We are committed to the belief that Americans of every background have the right to live where they choose, and NAR strives each day to ensure our 1.4 million members are leading this nation in the fight for fair housing.”

    Secretary Fudge joined Oppler and The Memorial Foundation CEO Harry Johnson for a discussion centered around the ongoing work to further fair housing in America.

    “Fair Housing is the bedrock of what we do every day [at HUD],” Secretary Fudge said Thursday. “But more importantly, it’s the law, and we intend to enforce it. We need to… look at what have historically been the systemic policies that have created the inequities we see, and to try to correct them and eradicate discrimination in every way we possibly can.”

    This year, The Memorial Foundation is recognizing the tenth anniversary of the Martin Luther King, Jr. Memorial in Washington D.C. NAR served as a sponsoring organization of the memorial’s construction.

    “The right to live with dignity and without discrimination in access to housing was one of Dr. Martin Luther King, Jr.’s central beliefs in his dream where all Americans could truly be free,” said Johnson. “We’re pleased to join with partners in this critical conversation that furthers Dr. King’s vision of democracy, justice, hope and love.”

    Documentarian and journalist Soledad O’Brien, who hosted Thursday’s event, praised the commitment that The Memorial Foundation and NAR have made to building diverse and inclusive communities. She said it will require cooperation and collaboration from businesses, government and community groups to ensure the “Fair Housing Act is more than words on paper.”

    “Our society will not truly be equal until every family can live where they choose, no matter their race or background,” O’Brien continued, noting that an individual’s ZIP code is often a better indicator of their life expectancy than their genetic code. “The events of the past year have punctuated how deeply discrimination continues to divide our communities. These communities fare worse not only in wealth and income, but in education, health care, criminal justice and much more. This is why action is so important.”

    The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

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    Thu, 15 Apr 2021 08:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News NAR National Association of Realtors News Real Estate
    Look inside a Singapore supermarket billionaire's $50 million mansion, which combines a historic bungalow with an ultra-modern house and has a 100-foot swimming pool http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/svxUlfsI_Ac/singapore-mansion-bungalow-billionaire-photos-2021-4 The home is a "good class bungalow," Singapore's most rare and coveted type of real estate.

    TA.LE Architects

    • Singapore billionaire Lim Hock Leng lives in a $50 million historic bungalow combined with a modern mansion.
    • Lim, who co-owns Singapore's 3rd-largest supermarket chain with his two brothers, has amassed a fortune of $1.2 billion with his brothers.
    • The mansion features a swimming pool that starts indoors and extends outside.
    • See more stories on Insider's business page.
    On a secluded, leafy street in Singapore, supermarket billionaire Lim Hock Leng lives in a $50 million bungalow. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Lim is the co-owner and managing director of Singapore's third-largest supermarket chain, Sheng Siong, which operates more than 60 stores in the city-state.

    Lim's older brother, Lim Hock Chee, is Sheng Siong's CEO, while the eldest brother, Lim Hock Eng, is executive chairman. Together, the three brothers own a majority stake in the company, putting their combined net worth at $1.2 billion, according to Forbes.

    Lim's home is a "good class bungalow," Singapore's most rare and coveted type of real estate. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    The city-state has a limited number of good class bungalows, making them a status symbol reserved for the ultra-wealthy.

    The design of Lim's home combines a historic Singapore bungalow with an ultra-modern home.

    "From the front, it looks very unassuming," one local real-estate agent, who has visited the home and wished to remain anonymous, told Insider. "But if you look from the back it's a monstrous house that towers over the whole neighborhood."

    The back of the home shows off the modern addition that was designed as "as a series of stepped terraces with green roofs," according to the architecture firm. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Singapore-based architecture firm Ta.le Architects oversaw the restoration of the colonial bungalow and designed the new bungalow.

    Lim paid 35 million Singapore dollars - or about $26.2 million - for the land and the historic colonial bungalow in 2015, a spokesperson for his company confirmed to Insider. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    The executive then spent roughly SG$30 million ($22.4 million) to restore the bungalow and build the attached modern bungalow, which was completed in 2018, the spokesperson said.

    That brings Lim's total investment in the property to nearly $50 million.

    The architecture firm, Ta.le Architects, dubbed the finished property "Hidden House." singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    The home has three courtyards, one of which features a grassy lawn and sits between the historic bungalow and the modern bungalow. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    Another courtyard separates the living room and the dining room of the new bungalow and brings light and air into the center of the house. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    The third courtyard on the lowest level of the home is where you'll find the 98-foot swimming pool, which extends from indoors to outside of the house. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Above the pool is a staircase designed to "glow in the night," according to the architects.

    Indeed, the entire rear facade of the home does appear to glow at nighttime. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    The bungalow sprawls across 33,700 square feet. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    Rather than going for pure opulence, the architects said they designed the home to create a "minimalistic luxurious experience." singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    Last month, Lim gave a tour of his home to the South China Morning Post and told the publication that he shares his home with different generations of his family. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: South China Morning Post

    The architects therefore designed large bedrooms - almost like independent apartments - to accommodate Lim's four children and his parents. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    The bungalow's formal dining area can accommodate at least 15 people. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    Many of the home's common areas appear to open up to the grassy terraces. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    Photos of the home show lavish marble bathrooms. There's also a massive walk-in closet. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    The spacious office seems appropriate for the managing director of a major supermarket group. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    The home's amenities include a fitness center, a sauna and squash court, a pool table, and a home theater with 14 seats. singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    Source: Ta.le Architects

    When he set out to build the house, Lim said he told the architects, "'You are building this house for my neighbors, not me.'" singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    "When you build a house, that house has to become scenery for your neighbors," Lim told the Post during the tour.

    Lim told the Post that he considers spending so much money on a house to be a bit "extravagant." singapore billionaire bungalow Lim Hock Chee

    TA.LE Architects

    But for Lim, the cost was justified. His father always wanted the whole family to live together but couldn't afford a large enough home, Lim said, so he sees the house as realizing his father's dream.

    Read the original article on Business Insider

    [Author: kwarren@insider.com (Katie Warren)]

    ]]>
    Wed, 14 Apr 2021 22:45:21 +0000 BlogLikes - Find Most Popular Blogs Post Real Estate Singapore International Trends Features Billionaires Retail Luxury Real Estate Lim South China Morning Post Sheng Siong Katie Warren InsiderAsia Insider Asia Singapore real estate TA LE Architects Singapore Lim Hock Leng TA LE Architects Lim Lim Hock Chee Lim Hock Eng Forbes Lim Ta le Architects TA LE Architects Source TA LE Architects When
    CoStar to acquire listing site Homes.com http://feedproxy.google.com/~r/TheFutureOfRealEstateMarketing/~3/erbMgOkZinE/ Wed, 14 Apr 2021 17:00:05 +0000 BlogLikes - Find Most Popular Blogs Real Estate Technology Radio Zillow Acquisition Portal Industry News CoreLogic Select News Brief Homes.com Homesnap Costar Bernie Madoff, ponzi schemer and real estate collector, has died http://feedproxy.google.com/~r/TheFutureOfRealEstateMarketing/~3/oxHANA1r8wc/ Wed, 14 Apr 2021 14:14:14 +0000 BlogLikes - Find Most Popular Blogs Real Estate Prison Wall Street Listings Radio Broadway Upper East Side Compass North Carolina Great Recession Hamptons Industry News Madoff Bernie Madoff Corcoran Daryl Roth Zestimate Steve Roth Chateau des Pins Lawrence Benenson Another 5 Bizarre Houses From Around the World http://www.powersiteblog.com/another-5-bizarre-houses-from-around-the-world-2/ We had ‘Bizarre Houses Around the World‘ and today the fun continue. So how would you list these five ‘homes’?

    1. The Kettle House, in Texas (USA).

    strange181

    2. The Errante’s Guest House, in Chile.

    strange171

    3. The Strawberry house, in Tokyo (Japan).

    strange161

    4. The Pickle Barrel House, in Michigan (USA).

    strange151

    5. The Steel House, in Lubbock (Texas, USA). Architect and sculptor Robert Bruno spent 23 years building this strange home that looks like a giant pig out of 110 tons of steel.

    strange14

    ]]>
    Wed, 14 Apr 2021 12:00:00 +0000 BlogLikes - Find Most Popular Blogs Just For Fun Fail Home Homes Property Real Estate
    Revealed: the huge British property empire of Sheikh Mohammed https://www.theguardian.com/world/2021/apr/14/revealed-the-huge-british-property-empire-of-sheikh-mohammed Holdings of more than 40,000 hectares in London, Scotland and Newmarket make Dubai ruler one of UK’s biggest landowners

    The controversial ruler of Dubai has acquired a land and property empire in Britain that appears to exceed 40,000 hectares (100,000 acres), making him one of the country’s largest landowners, according to a Guardian analysis.

    The huge property portfolio apparently owned by Sheikh Mohammed bin Rashid al-Maktoum and his close family ranges from mansions, stables and training gallops across Newmarket, to white stucco houses in some of London’s most exclusive addresses and extensive moorland including the 25,000-hectare Inverinate estate in the Scottish Highlands.

    Continue reading...]]>
    Wed, 14 Apr 2021 09:00:40 +0000 BlogLikes - Find Most Popular Blogs Real Estate UK London Sport UK News Britain Property United Arab Emirates Dubai Horse racing Mohammed Godolphin Suffolk Newmarket Sheikh Mohammed bin Rashid al-Maktoum London Scotland The super-rich
    What to Expect in the Housing Market After the Pandemic http://www.powersiteblog.com/what-to-expect-in-the-housing-market-after-the-pandemic/ – Zillow survey results indicate many of the features that have marked the pandemic-era housing market — including heavy buyer demand, tech tool adoption and rising home prices — are likely to persist

    – Strong demand for homes is likely to continue, but there may be little change in the locations and types of homes Americans prefer.

    – For-sale housing inventory should see a boost as vaccine distribution becomes more widespread — 53% of housing experts Zillow surveyed think inventory will begin growing sometime this year.

    – Digital tools that are making the home shopping experience easier and faster will continue to be in demand. About 79% of Americans say they would like to use 3D tours during their search.

    Seattle, WA – April 14, 2021 (PRNewswire) The coronavirus pandemic has upended the housing market, opening up new opportunities for many, pushing some to move back home and causing others to reevaluate how they want their home to look. With vaccines being widely distributed, new Zillow® surveys reveal what’s likely to change and what’s expected to remain when the pandemic ends. 

    “As the pandemic subsides and the economy begins to recover, lowered health risks and renewed homeowner financial confidence should bring more sellers to the market,” said Zillow economist Arpita Chakravorty. “That increased inventory would ease buyer competition that has driven prices higher during the pandemic, but expect a steady pace of home value growth to persist into the near future. Mortgage rates have risen some but are still low by historical standards, adding to people’s purchasing power and helping to keep competition for homes revved up.”

    Telework is here to stay, which should continue to boost home buying demand…
    An overwhelming majority (95%) of economists and real estate experts surveyed by Zillow as part of the Zillow Home Price Expectations (ZHPE) survey say an increased preference to work remotely at least part time is a permanent shift.i According to Zillow’s Ideal Home Survey, which asked adults to describe their ideal living situation, remote workers are more likely to consider moving because of the pandemic. Of employed people who work remotely at least one day a week, 23% said they are more likely to consider moving because of the pandemic – only 13% of employed people who always work at their employer’s location said the same.ii

    With widespread teleworking expected to continue when the pandemic ends, boosted home buying demand thanks to the added flexibility offered by remote work is likely to persist — Zillow economists expect 17.2% more home sales this year than in 2020. 

    …but housing location and size preferences may return to pre-pandemic norms
    Experts surveyed by Zillow were split on whether housing preference shifts during the pandemic will last. When asked about Americans’ preference for living in the suburbs over urban areas, the same share of ZHPE panelists said the shift was permanent as said the shift was temporary (46%) — 8% said there has been no shift at all. The results were similar when asked whether consumer preference has changed in favor of proximity to smaller cities over larger cities, or larger homes in favor of smaller homes. 

    Zillow’s Ideal Home Survey results show no change in the size of Americans’ ideal home since last year. According to the survey, Americans prefer a 2,000-square-foot home with three bedrooms and two bathrooms — the same as when surveyed a year ago.

    More homes will come onto the market to help meet demand
    In today’s frenzied housing market, buyers are often plucking homes off the market just days after they are listed, thanks in part to technology that’s making home buying and selling faster and easier. The speed at which homes are selling is one factor contributing to low inventory, which has steadily declined during the pandemic and now sits 30% lower than a year ago. 

    A majority of ZHPE panelists (53%) expect inventory will begin to grow again this year, likely during the second half of 2021. An increase in existing homes being listed for sale is expected to be the biggest factor in the reversal, with 38% of panelists saying that is the most likely catalyst for inventory growth. 

    Previous Zillow research supports this belief. Homeowners representing eight million households say they’re more likely to move and sell their home as a result of the pandemic, and widespread coronavirus vaccine distribution will make homeowners in 14 million households feel comfortable moving who don’t necessarily feel that way now. 

    “As the economy continues to recover, more potential sellers will enter the market as they gain confidence in their employment,” said Samer Kuraishi, president and founder at The ONE Street Company in Washington, D.C. “It’s been tough on homeowners who want to sell but might have lost their job, or cannot work remotely. Increased employment stability will only raise confidence and push people off the sidelines. While we have optimism about April and the summer, our work with clients will remain the same: arm, educate, and empower them to learn the market and understand the road ahead.”

    Home prices will continue their climb
    Strong competition for available homes pushed up prices last year — the typical home appreciated by more than $20,000 in 2020. Even with an expectation for more inventory to help meet buyer demand, ZHPE panelists on average expect home prices to grow 6.2% in 2021 — a full two percentage points higher than when they were surveyed in Q4 2020 — and several panelists call for double-digit price growth this year. 

    “This is the most bullish near-term outlook for home prices we’ve seen from our experts since the early stages of the post-bust recovery, and the panel’s five-year average annual home price forecast has never been more optimistic,” said Terry Loebs, founder of Pulsenomics. “In the wake of last year’s heady home equity gains, these new projections indicate that the aggregate value of homes across the country will increase by another $2 trillion in 2021. This is great news for existing homeowners, but even with a robust economic rebound in the coming months affordability will likely remain a challenge for many aspirational renters looking to move into homeownership this year.”

    Buyers will continue to want digital tools that make home shopping easier
    “Zillow Surfing” has surged during the pandemic as home shoppers and daydreamers use Zillow as a new form of escapism. Real estate technology, like Zillow’s 3D Home tours, are making home shopping easier and faster and can give home shoppers an experience similar to an in-person tour from their couch hundreds or thousands of miles away. Nearly 60% of millennials say they would be at least somewhat comfortable making an offer on a home without touring in person if they’ve viewed a virtual tour, and almost 40% even say they would be comfortable buying a home online.

    Demand for these tools is expected to continue once the pandemic ends. One in three respondents to a Zillow survey say they would prefer taking a virtual or video home tour instead of touring a home in person after the pandemic, a departure from traditional shopping behavior. And 79% of Americans say they’d like to view a 3D virtual tour while shopping for a home. 

    The results achieved from listings using these technologies support the preferences stated by consumers in the survey. From March 2020 through February 2021, for-sale home listings on Zillow with a Zillow 3D Home tour were viewed 65% more and favorited (saved) 75% more than for-sale home listings without a Zillow 3D Home tour.iii Listings with a Zillow 3D Home tour sold, on average, 10% faster than listings without.iv

    Buyers gravitate toward waterfront living
    Zillow’s Ideal Home Survey found a notable increase in people who say their dream location is near the water. More people say their ideal home would be on or near a beach (21%, up from 17% in 2020) or a lake (16%, up from 12%) than last year.

    The kitchen cements itself as the most important room in a home
    A large kitchen is the home feature the most people say they couldn’t live without, according to Zillow’s Ideal Home Survey. Seventy percent of those surveyed said a large kitchen is extremely or very important, edging out a large ensuite bathroom (68%), walk-in closet (63%) and a patio or deck (62%) as the must-have feature in their ideal home. 

    It’s even more indispensable for those who say they’re more likely to move because of the pandemic — 78% of them say a large kitchen is extremely or very important, more than those who are less likely to move.

    Buyers are often willing to pay a premium for the kitchen of their dreams. Among the 10 features most often mentioned in listings that sold for more than expected during the pandemic in 2020, six are kitchen-related. Steam ovens were the most-coveted feature of the year, associated with a 4.9% sale premium. 

    Only 25% said a pool is extremely or very important in their ideal home — perhaps because they’re dreaming of swims in the ocean or lake instead. 

    About Zillow Group
    Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life’s next chapter. 

    As the most-visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions.  

    Zillow Group’s brands, affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). 

    About Pulsenomics
    Pulsenomics LLC (www.pulsenomics.com) is an independent research firm that specializes in data analytics, opinion research, new product and index development for institutional clients in the financial and real estate arenas. Pulsenomics also designs and manages expert surveys and consumer polls to identify trends and expectations that are relevant to effective business management and monitoring economic health. Pulsenomics LLC is the author of The Home Price Expectations Survey™, The U.S. Housing Confidence Survey, The Housing Confidence Index, and The Transaction Sentiment Index. Pulsenomics® , The Housing Confidence Index™, The Transaction Sentiment Index™, and The Housing Confidence Survey™ are trademarks of Pulsenomics LLC.

    i This edition of the Zillow Home Price Expectations Survey surveyed 110 experts between February 15, 2021 and March 1, 2021. The survey was conducted by Pulsenomics LLC on behalf of Zillow, Inc. The Zillow Home Price Expectations Survey and any related materials are available through Zillow and Pulsenomics.
    ii Zillow Group Population Science collected a nationally representative sample of more than 1,000 Americans. Fielded between March 1 and March 7, 2021, the survey asked participants questions about their ideal home, including details like size, layout, and location. In previous years, HarrisPoll fielded this survey for Zillow Group; to maintain year-over-year comparability, the ZG Population Science survey used the same questions developed by HarrisPoll. The 2021 survey also asked participants new questions about remote work and their likelihood of moving because of the pandemic.
    iii Daily average.
    iv Based on data collected Dec 2019 – May 2020.

    SOURCE Zillow

    ]]>
    Wed, 14 Apr 2021 09:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News News Real Estate Zillow
    HUD Secretary Fudge to Join NAR, The Memorial Foundation for Fair Housing Conversation http://www.powersiteblog.com/hud-secretary-fudge-to-join-nar-the-memorial-foundation-for-fair-housing-conversation/ Washington, D.C. – April 14, 2021 (nar.realtor) The Memorial Foundation and the National Association of Realtors® will host a conversation on fair housing tomorrow, April 15, at 2 PM on NAR’s Facebook page(link is external). HUD Secretary Marcia L. Fudge, Memorial Foundation President Harry E. Johnson, NAR President Charlie Oppler, JPMorgan Chase & Co Foundation President Janis Bowdler and Urban Institute President Sarah Rosen Wartell will join moderator and acclaimed journalist Soledad O’Brien for Thursday’s event.

    The conversation, “The Past, President and Future of Fair Housing,” focuses on the history and intersection of civil rights, real estate business and public policy that has led to the current state of housing infrastructure in the U.S.

    “The right to live with dignity and without discrimination in access to housing was one of Dr. Martin Luther King, Jr.’s central beliefs in his dream where all Americans could truly be free,” said Johnson. “We’re pleased to join with partners in this critical conversation that furthers Dr. King’s vision of democracy, justice, hope and love.”

    This year marks the 53rd anniversary of the Fair Housing Act, the landmark bill signed into law on April 11, 1968, that prohibits housing discrimination because of race, color, religion, national origin, sex, disability and familial status. April is recognized across the nation as Fair Housing Month.

    Located in Washington, D.C., The Memorial Foundation, Inc. exists to promote awareness of the Martin Luther King, Jr. Memorial and its tenets of democracy, justice, hope and love. The 501C3 nonprofit organization also supports the general upkeep of the Memorial, which as the 5th most-visited memorial on the National Mall sees more than 3 million visitors per year.

    The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

    ]]>
    Wed, 14 Apr 2021 08:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News National Association of Realtors News Real Estate
    WeWork cofounder Adam Neumann just sold his San Francisco Bay Area compound for $22.4 million. Look inside the 'Guitar House.' http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/AVZgIzw2_a4/adam-neumann-wework-guitar-house-california-photos-2020-8

    Jacob Eliot; Michael Kovac/Getty

    Adam Neumann just sold his compound in Corte Madera in Northern California for $22.4 million, the New York Post reports. adam neumann guitar house

    Jacob Elliot

    The WeWork cofounder listed the home in August 2020 for $27.5 million.

    Compass, the brokerage that held the listing, did not immediately respond to Insider's request for this story.

    Neumann has been selling off millions of dollars of his real-estate portfolio over the past couple years. adam Rebekah Neumann Adam Neumann and his wife, Rebekah.

    Evan Agostini/Invision/AP

    Neumann, who cofounded WeWork in 2010 with his wife, Rebekah Neumann, and Miguel McKelvey, was ousted from the company in 2019 after its failed IPO.

    Neumann was worth as much as $14 billion before the fiasco, but his fortune has since shrunk dramatically. He's now worth an estimated $750 million, according to Forbes.

    After founding WeWork in 2010, Neumann and Rebekah spent more than $80 million on at least five homes. But after moving to Israel to escape media scrutiny, they've been trying to offload them one by one.

    In March 2020, they sold their house in the Hamptons for $1.25 million after owning it for seven years. And they've been trying to sell multiple units in their New York City townhouse on the market for a combined $37.5 million since last February.

    Their latest property to sell sits on more than 10 acres on a hilltop in Corte Madera that's just minutes from the Golden Gate Bridge, according to the listing. adam neumann guitar house

    Jacob Elliot

    Corte Madera, a town of just under 10,000 people, is about 30 minutes by car from San Francisco.

    In 2018, the median household income in Corte Madera was $147,587 — more than double the national median of $60,293, according to data from the US Census Bureau.

    Source: Compass

    The home, known as the "Guitar House," sits on land that was once owned by legendary rock and roll concert promoter Bill Graham. adam neumann guitar house

    Jacob Elliot

    The property was later renovated by eco-architect Sim Van der Ryn.

    The compound has a gated entry with a private driveway.

    Neumann bought the home in 2018 for $21.4 million. adam neumann guitar house

    Jacob Elliot

    Source: New York Post

    The main house has more than 10,000 square feet of living space, and it weaves together the indoor and outdoor spaces. adam neumann house

    Jacob Elliot

    Source: Compass

    The gourmet chef's kitchen comes with two butler pantries. adam neumann house

    Jacob Elliot

    Source: Compass

    The living room has its own bar area. adam neumann house

    Jacob Elliot

    Source: Compass

    The expansive master suite comes with a fireplace and a private patio. adam neumann house

    Jacob Elliot

    Source: Compass

    The attached master bathroom includes dual dressing areas ... adam neumann house

    Jacob Elliot

    Source: Compass

    ... and a soaking tub with panoramic views of the surrounding landscape, as well as a walk-in, glass-walled shower. adam neumann house

    Jacob Elliot

    Source: Compass

    There's also a spacious master office and three guest bedrooms. adam neumann house

    Jacob Elliot

    Source: Compass

    The home was designed with abundant space for entertaining, including a billiards room and the home theater. adam neumann house

    Jacob Elliot

    Source: Compass

    The aptly named Guitar House also has a professional-grade music room that's shaped like a guitar. adam neumann house

    Jacob Elliot

    Source: Compass

    The California compound's outdoor space is just as luxurious as its interior. adam neumann house

    Jacob Elliot

    Source: Compass

    Next to the outdoor swimming pool is a pool cabana with its own kitchen and half bathroom. adam neumann house

    Jacob Elliot

    Source: Compass

    Then there's the guest house, which comes with two bedrooms, two bathrooms, and a living area. adam neumann house

    Jacob Elliot

    Neumann's compound also includes an indoor regulation-size racquetball court, a yoga and fitness center, and a wine cellar.

    Source: Compass

    According to the listing, the new owner of the Guitar House can live "off the grid" thanks to the compound's gardens, personal water well, and solar and geothermal systems. adam neumann house

    Jacob Elliot

    And don't forget the greenhouse, the vegetable and herb gardens, the chicken coop, and last but not least, the bee harvesting farm. 

    Read the original article on Business Insider

    [Author: kwarren@insider.com (Katie Warren)]

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    Wed, 14 Apr 2021 05:13:07 +0000 BlogLikes - Find Most Popular Blogs New York Post Real Estate California Life New York City Israel San Francisco Trends Features WeWork Golden Gate Bridge Hamptons San Francisco Bay Area Northern California Luxury Real Estate Neumann Corte Madera Adam Neumann Rebekah Sim van der Ryn Arts & Culture Tech Insider Miguel McKelvey Michael Kovac Getty Rebekah Neumann Guitar House Katie Warren BI Select BI Graphics Jacob Elliot Jacob Eliot Rebekah Evan Agostini Invision AP Neumann Jacob Elliot Corte Madera US Census Bureau Source Bill Graham Jacob Elliot Jacob Elliot Source Jacob Elliot Neumann
    Madonna buys The Weeknd’s Hidden Hills home for $19.3 million https://www.dailynews.com/2021/04/13/madonna-buys-the-weeknds-hidden-hills-home-for-19-3-million/ The Weeknd has sold his Hidden Hills compound for $19.3 million, and the buyer, according to Dirt.com, is the “Queen of Pop.”

    Madonna, 62, reportedly snapped up the 12,547-square-foot estate last week for about 23% less than the $24.995 million originally sought by the “Blinding Lights” singer in June 2020.

    The ask dropped to $21.995 million in December.

    Set on nearly 3 acres, the gated property includes a seven-bedroom main residence, a two-bedroom guest house and a full basketball court that “may not be duplicated in Hidden Hills,” the listing reads.

    • The soaring entry hall. (Courtesy of The Agency)

    • The living room. (Courtesy of The Agency)

    • Sound The gallery will resume in seconds
    • The dining room. (Courtesy of The Agency)

    • A view of the kitchen, which opens to the family room and a bar. (Courtesy of The Agency)

    • The breakfast nook. (Courtesy of The Agency)

    • The family room and bar. (Courtesy of The Agency)

    • Outdoor living room. (Courtesy of The Agency)

    • Home office. (Courtesy of The Agency)

    • The master suite. (Courtesy of The Agency)

    • Master closet. (Courtesy of The Agency)

    • Master closet. (Courtesy of The Agency)

    • Master bath. (Courtesy of The Agency)

    • The media room. (Courtesy of The Agency)

    • The converted horse stable. (Courtesy of The Agency)

    • The exterior of the two-bedroom guest house. (Courtesy of The Agency)

    • The guest house living room. (Courtesy of The Agency)

    • The guest house kitchen. (Courtesy of The Agency)

    • The basketball court. (Courtesy of The Agency)

    • The entertaining pavilion. (Courtesy of The Agency)

    Show Caption of

    Expand

    The house was completed in 2017, the same year the Canadian singer-songwriter and music producer born Abel Tesfaye bought it for $18.2 million, TMZ reported at the time.

    A soaring entry hall in the main house with a two-story glass wall opens to a contemporary, all-white interior warmed by wood and stone accents, from the living and dining rooms to the gourmet kitchen.

    The kitchen, which boasts two large islands and a walk-in butler’s pantry, neighbors the breakfast nook and family room.

    Other features include a full-size bar, office, wine room, gym, media room, and a master suite that features a fireplace with a sitting area, two walk-in closets and a spa-like bathroom.

    Pocket doors open to extend the living space out to the backyard. Its multiple terraces, zero-edge swimming pool and spa, and open-air pavilion with an outdoor kitchen and living area.

    A converted horse barn that now functions as extra living space and a five-car garage with LED flooring add to the perks of this entertainer’s property.

    The listing agent was Angel Salvador of The Agency. Trevor Wright of The Beverly Hills Estates repped Madonna. Related Articles

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    Tue, 13 Apr 2021 22:55:46 +0000 BlogLikes - Find Most Popular Blogs Business Real Estate News Housing Sport Soccer Madonna Steve McQueen Palm Springs Torrance Newport Beach Hidden Hills Abel Tesfaye RHOC Lynsi Snyder Top Stories LADN Top Stories OCR Hot Homes Queen of Pop Madonna Hollywood Riviera Braunwyn Windham Burke Angel Salvador Trevor Wright Blinding Lights Agency Home Beverly Hills Estates
    Did You Know That Business Opportunities Are NOT Franchise Opportunities? http://feedproxy.google.com/~r/TheFranchiseKing/~3/JjFTtV-Ncc8/business-opportunities-are-not-franchise-opportunities New Post From The Franchise King®

    Business Opportunities vs Franchise Opportunities

    In this post, I’m going to tell you what you need to know about Business Opportunities vs. Franchise Opportunities. Do you really know the difference?

    The reason I ask, is that a couple of years ago I got in a little online tiff with a gentleman who was calling his business opportunity a “franchise.” It wasn’t. As a matter of fact, it wasn’t even in the same family as a franchise business…

    In view of that, I told him that if he didn’t stop offering his little “biz-opp” as a “franchise opportunity” that I would turn him into the Federal Trade Commission (FTC) I wasn’t kidding. When it comes to stuff like this, I don’t play.

    As a matter of fact, that kind of stuff really gets me going . I mean it realllly gets me going. I cannot stand scams. I hate (yes hate) people who try to take advantage of others by using words that totally misrepresent what it is they’re doing. Or in this case, what they’re selling.

    With that said, I don’t remember the name of the company, but there are two distinct things about it that I do remember;

    1. The total investment was around $500.

    2. The product that was being peddled was a “wellness product.” (Vitamins)

    Now, just in case you don’t know, this “franchise” was nothing more than your typical MLM garbage. You know, multi-level-marketing…network marketing…whatever it’s being called nowadays.

    On Network Marketing

    How many different ways will these “network marketers” try to get me to sign on with their crap products?

    I know I’m in trouble when I answer my phone, and there’s a “friend” that I haven’t heard from for 7 years on the other end of the line. For example:

    Friend : “Joel Libava! How the heck are you? I haven’t seen you in like forever!”

    Me: “I’m good, what’s happening?

    Friend: “Well, the reason I’m calling is to find out if you’d be interested in making some extra money…you know, in your own business?”

    Me: “Well, I have my own business already…

    Friend: “Great!!!!!!!!! Well, you can do this part-time. Can you meet me for coffee tomorrow, so I can show you what it is? I’m really excited about it…

    Yada. Yada. Yada…

    Back to the phone call.

    Me: “So, what is this great thing?

    Friend: “Well, I really need to show it to you in person.

    Me: “Is it Multi-Level Marketing?”

    Friend: “No…It’s not MLM. It’s a kind of direct marketing. You know, Network Marketing…

    Me: Click.

    Franchise vs Business Opportunity: Those Sneaky-Ass Little Pukes

    Fact: there are some sneaky little pukes who are using the word franchise” in their flimsy, but colorful, brochures.

    They Are Not Franchise Businesses. There Is No Franchise System!

    They’re MLM businesses. And for around 1% of the folks who have these “businesses”, they are money-makers. But the sellers don’t have a lot of rules they must follow.

    On the other hand, people who sell Business Opportunities do have some rules…some actual rules they must follow. It’s just that Business Opportunities are not held to account as much as a franchise business opportunity is.

    That’s not to say that a business opportunity is bad; it’s just that they’re usually not as tight, system-wise as a genuine franchise business opportunity….

    Plus, as I mentioned above, there are certain rules that those selling business opportunities must follow. There are also certain rules that those selling franchises must abide by, too. 

    Business Opportunities vs Franchise Opportunities

    When I do seminars on franchise ownership, I always tell the attendees that one way to tell if an “opportunity” is a franchise or not, is to look at the start-up costs involved. Please allow me to be blunt, here.

    If the total up-front investment is $485, it’s not a franchise offering.

    In other words, anyone that tries to sell you a “franchise” for a few hundred dollars, is someone that you shouldn’t do business with. Ever.

    That’s because a franchise business, at a minimum, will cost you at least $50,000. Usually more. But why?

    Because you get a lot of things when you buy a franchise business. Like:

    • Formal training
    • Support (On site and off site)
    • Purchasing power
    • Branding
    • A marketing plan
    • Software and technology
    • Real Estate assistance

    And those are just some of the things you’ll get as a franchise owner. There’s more to a franchise sytsem.

    Business Opportunities

    Business opportunities usually provide the minimum needed to help you launch your business. The support that comes from a business opportunity is not usually ongoing, unless you’re willing to pay for it. (Most biz-opp sellers will tell you that you’ll get support, but they don’t have to do it. It’s not part of the legal agreement.)

    However, a franchise contract, although wordy, and complicated, does state what the franchisor must do, support wise.

    That said, I have worked with a few business opportunities in the past. And I still do, occasionally. But they need to be legit. 

    One business opportunity was an equipment leasing company. Fail. One business opportunity was a sign business. Not bad. But the other ones were so bland…and so weak, I don’t remember what they were.

    My point is this:

    If you’re going to become your own boss, make sure you know exactly what business and business-type you’re getting into. In other words, you need to become an educated franchise buyer.

    And make sure you understand the difference between a Franchises and Business Opportunities.

    Please Share This Post If You Liked It! Twitter 0 Facebook 0 LinkedIn Pinterest 1 1 Shares

    The post Did You Know That Business Opportunities Are NOT Franchise Opportunities? appeared first on Find The Best Franchise To Buy | The Franchise King®.

    ]]>
    Tue, 13 Apr 2021 10:10:00 +0000 BlogLikes - Find Most Popular Blogs Facebook Real Estate Sales Business Opportunities Federal Trade Commission FTC Joel Libava LinkedIn Pinterest Yada Yada Yada Back
    Want to Sell Your Home for More Money? List in the Middle of the Week http://www.powersiteblog.com/want-to-sell-your-home-for-more-money-list-in-the-middle-of-the-week/ – Redfin found the typical home listed on a Tuesday, Wednesday or Thursday sells for $1,700 more than one listed on the weekend, and it sells nearly two days faster.

    – It varies by metro: In Boston, homes that list midweek sell for an average of $7,100 more than homes listed on the weekend, but in Minneapolis, they only fetch an average of $400 more.

    – Don’t overprice: Homes get 64% more views the day they first hit the market than the day after a price drop.

    Seattle, WA – April 13, 2021 (PRNewswire) (NASDAQ: RDFN) — Homes listed for sale midweek sell for an average of $1,700 more than homes listed on the weekend, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. This is based on a Redfin analysis of how much homes sold above their list price from July 2020 through February 2021, both nationwide and by metro.  

    “Because the market is so competitive right now, most homes will receive plenty of attention regardless of when they’re listed. But sellers can still maximize their potential profit simply by listing in the middle of the week, which gives potential buyers a few days to see the home, talk to their agent and set up a showing for Saturday or Sunday,” said Redfin Chief Economist Daryl Fairweather. “It’s also important to price homes appropriately. If the home is priced too high, fewer buyers will see the home, but if it’s priced too low, the seller may be inundated with so many tour requests a serious buyer could give up before laying eyes on it. The goal is to get as many serious buyers as possible to tour your home, make offers and drive up the sale price.” 

    Putting a home on the market on a Friday or Saturday means potential buyers may have already filled their weekend with other home tours. That’s especially important during the pandemic, when it’s more likely that buyers and their agents are required to book individual appointments to tour homes. And listing on a Sunday or Monday means buyers may lose interest before the following weekend. 

    Homes that hit the market midweek in Boston sell for an average of $7,100 more than homes listed on the weekend, by far the biggest premium of the 25 metro areas included in Redfin’s analysis. It’s followed by Newark, where homes listed midweek sell for $4,500 more, Seattle ($4,400), Oakland ($3,500) and Denver ($3,200). 

    Minneapolis and Kansas City have the smallest midweek premium, with homes listed Tuesday-Thursday fetching just $400 more than those listed the other days of the week. Next come Indianapolis, Houston and Atlanta, which each have a $500 midweek premium. 

    Homes listed in the middle of the week also sell faster than homes listed on the weekend

    Additionally, homes listed for sale midweek sell for an average of 1.6 days faster than homes listed on the weekend. In terms of speed, the advantage of listing midweek is biggest in St. Louis, where the typical home listed midweek sells 3.5 days faster than one listed on the weekend. It’s followed by Newark (2.9 days), Grand Rapids (2.9), Frederick, MD (2.8) and Boston (2.8).

    The advantage is smallest in Sacramento (0.7 days), Chicago (0.8), Phoenix (0.8), Dallas (0.9) and Portland, OR (1).  

    Price your home right the first time to maximize online views

    Listings of homes for sale get 64% more views the day they first hit the market than the day after a price drop. For example, if a home listed for sale gets 100 views its first day on the market, it would get 61 views the day after a price drop. 

    Sellers shouldn’t overprice their homes, even if most homes in their area are selling for higher than their asking price. If the home doesn’t go under contract within a reasonable time and the seller has to drop the price, fewer potential buyers who are searching within the home’s new price range will see it. 

    “I’m advising sellers not to overcompensate for the hot market by overpricing their home,” said William Soto, a Redfin real estate agent in Orange County, CA. “Select a price that will attract serious buyers to the property, not one that will scare people away.”

    To read the full report, including charts with metro-level data, please visit: https://www.redfin.com/news/tips-sell-home-more-money 

    About Redfin 
    Redfin (www.redfin.com) is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. We sell homes for more money and charge half the fee. We also run the country’s #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Since launching in 2006, we’ve saved customers nearly $1 billion in commissions. We serve more than 95 markets across the U.S. and Canada and employ over 4,100 people. 

    For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email press@redfin.com. To view Redfin’s press center, click here.

    SOURCE Redfin

    ]]>
    Tue, 13 Apr 2021 08:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News News Real Estate Redfin
    Billionaire hedge-fund manager Steve Cohen just sold his New York City penthouse after 8 years and a 74% discount http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/wUfhK0Mthzg/steve-cohen-sells-new-york-penthouse-2021-4 The penthouse sits on the 51st and 52nd floors of One Beacon Court in Midtown Manhattan.

    Google Maps

    After eight years and a 74% price chop, billionaire hedge funder Steve Cohen has finally sold his sprawling Manhattan penthouse.

    As Oshrat Carmiel first reported for Bloomberg, Cohen's 9,000-square-foot duplex at 151 East 58th Street went into contract last week, according to an Olshan Realty market report. The sale price was not disclosed, but the penthouse was most recently listed for $29.5 million. Olshan Realty did not immediately respond to a request from Insider for more details on the sale.

    Cohen, who runs Point72 Asset Management and has a net worth of $16 billion, first listed the penthouse for $115 million in 2013. Since then, the listing has gone through four brokerages and multiple price chops, per the brokerage report.

    steve cohen Steve Cohen is chairman and CEO of the Point72 hedge fund, which oversees more than $20 billion in assets.

    Steve Marcus/Reuters

    The penthouse sits on the 51st and 52nd floors of One Beacon Court, a 54-story luxury condominium tower that's part of the Bloomberg Tower complex, according to StreetEasy. The five-bedroom, 6.5-bathroom condo has a 2,000-square-foot master suite and 24-foot ceilings in the living room, according to the listing. At 700 feet above the city, the duplex offers views of Central Park and both the East and Hudson rivers. Cohen bought the penthouse in 2005 for $24 million, per Bloomberg.

    Cohen, who owns the New York Mets baseball team, has also owned real-estate in Greenwich Village and the Hamptons. In 2016, he tore down his 10,000-square-foot East Hampton mansion to build a new one in its place after paying $62.5 million for the house three years prior.

    In 2019, he sold his triplex condo in the West Village's Abingdon building for $30 million. According to Olshan Realty's report, Cohen is in the process of building another home in Greenwich Village. A spokesperson for the hedge-fund CEO did not immediately respond to Insider's request for comment for this story.

    Cohen has long been a fixture in the New York finance world. He founded the SAC Capital hedge fund in 1992 and ran it for years until the firm was busted for insider trading in 2013. As chairman and CEO of Point72 Asset Management, he oversees more than $20 billion in assets.

    Read the original article on Business Insider

    [Author: kwarren@insider.com (Katie Warren)]

    ]]>
    Tue, 13 Apr 2021 00:09:30 +0000 BlogLikes - Find Most Popular Blogs Real Estate New York Finance New York City Trends Bloomberg Manhattan Hudson New York Mets Central Park West Village Penthouse Cohen Greenwich Village Steve Cohen Midtown Manhattan Abingdon NYC Real Estate EAST HAMPTON Point72 Asset Management Bloomberg Tower Bloomberg Cohen Beacon Court Katie Warren Olshan Realty Steve Marcus Reuters Oshrat Carmiel
    How to get rental assistance in Southern California https://www.dailynews.com/2021/04/12/how-to-get-rental-assistance-in-southern-california/ Here’s a list of local governments, their total rental assistance allocation, and where residents in those jurisdictions can apply.

    Most residents in Orange, Riverside and San Bernardino counties as well as all residents in Santa Ana, Riverside, San Bernardino, Moreno Valley and Santa Clarita must apply to their local governments for assistance. In addition, they also can apply through the state portal at HousingIsKey.com.

    Los Angeles County: Allocation: $353.9 million. Where to apply: HousingIsKey.com.

    Orange County: Allocation: $145 million ($65.6 million administered by the county). Deadline to apply: April 30. Where residents outside of Anaheim, Santa Ana and Irvine can apply: https://era.211oc.org.

    Riverside County: Allocation: $126.6 million ($57.3 million administered by the county). Where residents outside the cities of Riverside and Moreno Valley can apply: unitedlift.org.

    San Bernardino County: Allocation: $115 million ($52 million administered by the county). Where residents outside of the cities of San Bernardino and Fontana can apply, starting Monday, April 12: sbcrentrelief.org

    Los Angeles: Allocation: $259.4 million. Deadline to apply: April 30. Where to apply: hcidla.lacity.org.

    Long Beach: Allocation: $30.2 million. Where to apply, starting Monday, April 12: www.longbeach.gov/rentalassistance.

    Santa Clarita: Allocation: $14 million ($6.3 million administered by the city). Deadline to apply: April 30. Where to apply: www.santa-clarita.com.

    Anaheim: Allocation: $21.6 million. Application deadline was March 31.

    Irvine: Allocation: $17.7 million. Application deadline was March 19.

    Santa Ana: Allocation: $21.8 million ($9.9 million administered by the city). Where to apply: www.santa-ana.org/cares-for-tenants.

    Riverside: Allocation: $21.8 million ($9.9 million administered by the city). Where to apply: riversideca.gov or bit.ly/3d3KVdn.

    San Bernardino: Allocation: $14.2 million ($6.4 million administered by the city).

    Moreno Valley: Allocation: $14 million ($6.3 million administered by the city. Where to apply: www.moval.org/rentalrescue.

    Fontana: Allocation: $14.1 million. Where to apply: HousingIsKey.com.

    Related Articles ]]>
    Mon, 12 Apr 2021 11:06:52 +0000 BlogLikes - Find Most Popular Blogs Business Real Estate News California Housing Sport Soccer Rent Orange County Riverside County Southern California Affordable Housing San Bernardino Moreno Valley Anaheim Santa Clarita Los Angeles County Riverside Santa Ana Irvine Fontana San Bernardino County Anaheim Santa Ana Orange Riverside Coronavirus Economy Santa Ana Riverside San Bernardino Moreno Valley HousingIsKey
    Mid-Level Real Estate Associate Attorney in Chicago [Sponsored] http://feedproxy.google.com/~r/abovethelaw/~3/TZWezdEmGKw/ Mon, 12 Apr 2021 09:40:28 +0000 BlogLikes - Find Most Popular Blogs Asia Real Estate Law Chicago Associates Sponsored Content Job Posting Kinney Recruiting Asia Chronicles C.A.R. asks HUD and FHA to Reduce Mortgage Insurance Premiums to Provide Greater Homeownership Opportunities http://www.powersiteblog.com/c-a-r-asks-hud-and-fha-to-reduce-mortgage-insurance-premiums-to-provide-greater-homeownership-opportunities/ Los Angeles, CA – March 31, 2021 (PRNewswire) The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response to the Department of Housing and Urban Development’s (HUD) announcement this week on the state of the Federal Housing Administration (FHA) Mutual Mortgage Insurance (MMI) Fund:

    “C.A.R. continues to support the steps that HUD and the FHA have taken during the COVID-19 crisis to help housing and struggling homeowners during the pandemic,” said C.A.R. President Dave Walsh, vice president and manager of the Compass San Jose office. “Recognizing that the FHA plays a pivotal role in providing housing opportunities for families throughout California, C.A.R., for years, has asked the FHA to lower the mortgage insurance premium. Doing so will provide greater homeownership opportunities and ensure that homebuyers using FHA loans are not overpaying for their mortgages.”    

    As the nation moves beyond this crisis, C.A.R. will continue to ask HUD and the FHA to reduce the mortgage insurance premium so that the recovery is equitable for all who want to attain homeownership while interest rates continue to hover at historic lows.” 

    Leading the way… ® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

    SOURCE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

    ]]>
    Mon, 12 Apr 2021 08:00:00 +0000 BlogLikes - Find Most Popular Blogs Real Estate News California News Real Estate
    Inside Larry Ellison's new $80 million Palm Beach mansion, which sits in a high-security gated community and has 520 feet of ocean frontage http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/-IOEeNFOWwQ/larry-ellison-oracle-palm-beach-mansion-photos-2021-4 Tech billionaire Larry Ellison has paid $80 million for a 15,000-square-foot beachfront mansion in Palm Beach, Florida.

    Douglas Elliman

    Tech billionaire Larry Ellison has paid $80 million for a 15,000-square-foot beachfront mansion in Palm Beach, Florida, The Wall Street Journal first reported. larry ellison palm beach mansion

    Douglas Elliman

    The Oracle cofounder, who's worth $89.3 billion, bought the estate from hedge-fund manager Gabe Hoffman, who put it on the market in June 2020 for $79.5 million, as Katherine Clarke reported for the Journal.

    Chris Leavitt, Ashley McIntosh, and Tonja Garamella of Douglas Elliman handled the transaction and declined to comment on the deal.

    Ellison said in December that he had moved from California to Lanai, the Hawaiian island he owns. larry ellison Oracle's Larry Ellison.

    Reuters/Stephen Lam

    After Ellison announced in December that he'd be moving Oracle's headquarters from Redwood Shores, California, to Austin, Texas, he got questions from employees about whether he was also moving to Austin, Recode reported.

    "The answer is no. I've moved to the state of Hawaii and I'll be using the power of Zoom to work from the island of Lanai," Ellison wrote in an email to staffers.

    At 7.35 acres, his new Palm Beach property is the third-largest oceanfront parcel of land in Palm Beach County, according to the listing. larry ellison palm beach mansion

    Douglas Elliman

    The estate sits in a gated community called Seminole Landing, which has a manned security gate and 24-hour security. The property itself is also gated.

    The listing also notes that the Palm Beach estate is one of "only a handful of properties in Florida where someone could land and take off in a helicopter from the estate."

    Built in 1998, the Tuscan-style main home has 15,514 square feet of living space. larry ellison palm beach mansion

    Douglas Elliman

    Source: Douglas Elliman

    The house has seven bedrooms, 11 bathrooms, and three half-bathrooms. larry ellison palm beach mansion

    Douglas Elliman

    Source: Douglas Elliman

    There's also a VIP guest suite, a home theater, a wine room, chef's kitchen, and a tennis court. larry ellison palm beach mansion

    Douglas Elliman

    Source: Douglas Elliman

    The swimming pool is surrounded by palm trees and a large private terrace. larry ellison palm beach mansion

    Douglas Elliman

    Source: Douglas Elliman

    Perhaps the most coveted feature of the property is its 520 feet of ocean frontage. larry ellison palm beach mansion

    Douglas Elliman

    Source: Douglas Elliman

    Ellison's newest home purchase adds to the billionaire's already impressive real-estate collection. larry ellison palm beach mansion

    Douglas Elliman

    He also owns a 23-acre estate in Woodside, California, and a home in San Francisco's Pacific Heights neighborhood, multiple homes on Malibu's "Billionaire's Beach," and several properties in Lake Tahoe.

    An Oracle representative did not respond to Insider's request for comment for this story.

    Read the original article on Business Insider

    [Author: kwarren@insider.com (Katie Warren)]

    ]]>
    Sun, 11 Apr 2021 22:54:31 +0000 BlogLikes - Find Most Popular Blogs Florida Real Estate California San Francisco Trends Tech Features Hawaii Billionaires Larry Ellison Mansion Lake Tahoe Wall Street Journal Ellison Oracle Malibu Lanai Palm Beach County Austin Texas Palm Beach Pacific Heights Palm Beach Florida Douglas Elliman Woodside California Gabe Hoffman Tech Insider Redwood Shores California Lanai Ellison Katherine Clarke Katie Warren Douglas Elliman Source Larry Ellison Reuters Stephen Lam Douglas Elliman Oracle Chris Leavitt Ashley McIntosh Tonja Garamella Austin Recode Seminole Landing Douglas Elliman Ellison
    Why $13 billion made by 20 real estate tycoons looks small https://www.dailynews.com/2021/04/11/why-13-billion-made-by-20-real-estate-tycoons-looks-small/
  • Donald Bren, the 88-year-old owner of real estate giant Orange County-based Irvine Co., has a net worth of $15.3 billion, according to Forbes — again the nation’s wealthiest individual property owner.

  • Fifth-wealthiest US real estate owner was Edward Roski, Jr.,82. His $5.5 billion worth, as estimated by Forbes, comes from Majestic Realty, a Los Angeles-based developer.

  • Sound The gallery will resume in seconds
  • Rick Caruso, 62, has a $4.2 billion net worth from his Los Angeles mall development firm, according to Forbes. It’s the No. 9 individual U.S. property fortune. (J. Emilio Flores/The New York Times)

  • The 13th-wealthiest US real estate owner was Donald Sterling, 86, whose $3.8 billion worth comes from owning apartment buildings in Los Angeles. (AP Photo/Danny Moloshok)

  • Show Caption of

    Expand

    U.S. real estate tycoons couldn’t keep up with their billionaire peers in the pandemic era.

    Let’s ponder data from my trusty spreadsheet tracking the ups and downs in the combined wealth of the nation’s 20 richest individual property owners.

    Collectively, the 20 tycoons were worth $97 billion in Forbes’ 2021 accounting — or an average $4.9 billion each. That was up $13 billion — an average gain of $700 million per tycoon — over 12 dramatic months of a global battle against coronavirus.

    While the world was slowly winning the pandemic war and real estate values were recovering from coronavirus damage, 16 of these 20 tycoons actually saw their standing drop on Forbes’ global wealth scoreboard. Their combined average ranking falling 126 spots to 688.

    Few would say those real estate gains were puny, but a deeper look at Forbes’ research tells us a lot about the rarified, billionaire world.

    A year ago, 2,095 billionaires from all industries were worth a combined $8 trillion, averaging $3.8 billion per fortune. This year, 2,755 billionaires — yes, 660 more — were worth $13.1 trillion. That’s a $4.8 billion average.

    So the spreadsheet tells me the assets of the world’s typical billionaire grew $1 billion, or 24%, in a pandemic-scarred year. The total net worth of the 20 real estate tycoons rose “only” 16%.

    Some of this underperformance can be tied to lingering real estate uncertainties such as the future of shopping malls and office towers. But much of the gap is tied to the stock market, a wealth-creation machine for far more fortunes than property owners.

    The S&P 500, the key benchmark for U.S. shares, rose 23% in the same period. The Nasdaq Composite, a yardstick for red-hot technology shares, skyrocketed 43%. And it’s a worldwide bull market as the S&P Global 1200 index rose 27% in the year.

    No sympathy is required for these rich property owners, but their portfolios did “suffer” sub-par results when looking through this global wealth prism.

    Here’s who they are, how their riches fared in the last two years and how their wealth changed, all according to Forbes …

    1. Donald Bren (age 88): His $15.3 billion net worth — tied to the Irvine Co. real estate empire — was down 1% in the past year after falling 5% the previous 12 months. He’s ranked 132nd richest globally vs. 63 a year ago.

    2. Stephen Ross (age 80): His $7 billion from the Related Cos. housing developer was off 8% in the past year and was flat in the previous 12 months. He ranked 369 vs. 185 a year ago.

    3. John Sobrato (81) and family: $6 billion from Sobrato Development, a Silicon Valley commercial landlord, was up 40% in the past year after falling 34% in the previous 12 months. He ranks 451 vs. 414 a year ago.

    4. Neil Bluhm (83): $5.7 billion from marquee Chicago properties was up 54% in the past year after falling 8% in the previous 12 months. He ranks 486 vs. 494 a year ago.

    5. Edward Roski, Jr. (82): $5.5 billion from Majestic Realty, a Los Angeles-based developer, was up 77% in the past year after falling 43% in the previous 12 months. He ranks 502 vs. 648 a year ago.

    6. Sam Zell (79): $5.3 billion from Equity Group Investments rose 10% in past year after falling 13% in the previous 12 months. He ranks 529 vs. 349 a year ago.

    Bubble Watch tracks housing risks. Read it here!

    7. Ted Lerner (95) and family: $4.8 billion from Washington, D.C area properties was up 30% in the past year after falling 24% in the previous 12 months. He ranks 589 vs. 494 a year ago.

    8. Igor Olenicoff (78): $4.5 billion from Olen Properties, a Southern California-rooted commercial landlord,  was up 15% in the past year after falling 3% in the previous 12 months. He ranks 638 vs. 468 a year ago.

    9, tie. Rick Caruso (62): $4.2 billion from his Los Angeles mall development firm was up 24% in the past year after falling 15% in the previous 12 months. He ranks 680 overall vs. 565 a year ago.

    9, tie. Leonard Stern (83): $4.2 billion from real estate in the New Jersey area was down 7% in the past year after falling 6% previously. He ranks 680 vs. 383 a year ago.

    11. Katharina Otto-Bernstein (57): $4.1 billion from managing the Otto family fortune rose 105% in the past year after falling 41% previously. She ranks 705  vs. 1,063 a year ago.

    12. Jeff Greene (66): $3.9 billion — created by betting against high-risk mortgages in the last real estate bubble — rose 5% in the past year after rising 9% previously. He ranks 752 vs. 494 a year ago.

    13. Donald Sterling (86): $3.8 billion from apartment buildings in Los Angeles rose 6% in the past year and was flat in the previous 12 months. He ranks 775 vs. 514 a year ago.

    14. Ty Warner (76): $3.6 billion by turning his Beanie Babies company into a high-end hotel portfolio was up 38% in the past year vs. flat growth in the previous 12 months. He ranks 831 vs. 804 a year ago.

    15. Charles Cohen (69): $3.5 billion from high-end office buildings in New York City was up 9% in the past year vs. a 6% decline in the previous 12 months. He ranks 859 vs. 616 a year ago.

    16. Jay Paul (73): $3.4 billion from Silicon Valley office space was up 62% in past year after a 36% slide in the previous 12 months. He ranks 891 vs. 1,001 a year ago.

    17. Richard LeFrak (75) and family: $3.3 billion from New York City apartments was up 18% in the past year after dropping 53% in the previous 12 months. He ranks 925 vs. 743 a year ago.

    18, tie. Jane Goldman (65): $3.1 billion from New York City apartments was flat in the past year after falling 6% in the previous 12 months. She ranks 986 vs. 648 a year ago.

    18, tie. Herb Simon (86): $3.1 billion from the mall giant that bears the family name rose 24% in the past year after a 26% decline in the previous 12 months. He ranks 986 vs. 836 a year ago.

    18, tie. Jerry Speyer (80): $3.1 billion from landmark office towers fell 23% in past year and was flat in the previous 12 months. He ranks 986 vs. 451 a year ago.

    Jonathan Lansner is business columnist for the Southern California News Group. He can be reached at jlansner@scng.com Related Articles

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    Sun, 11 Apr 2021 11:32:16 +0000 BlogLikes - Find Most Popular Blogs Business Real Estate News California Housing Washington New York City US Los Angeles Sport Chicago Soccer New York Times New Jersey Kaiser Silicon Valley Orange County Southern California Forbes Stephen Ross Donald Sterling Sam Zell Equity Group Investments Jeff Greene Jay Paul Herb Simon Irvine Co Leonard Stern Jane Goldman Danny Moloshok Southern California News Group Ty Warner Beanie Babies Edward Roski Charles Cohen Richard LeFrak Rick Caruso Top Stories LADN Top Stories OCR Top Stories PE Top Stories IVDB Top Stories RDF Top Stories Sun Top Stories Breeze Top Stories LBPT Top Stories WDN Top Stories SGVT Top Stories PSN Donald Bren Edward Roski Jr Emilio Flores Igor Olenicoff Jonathan Lansner Coronavirus Economy Majestic Realty John Sobrato Sobrato Development Neil Bluhm Ted Lerner Olen Properties Katharina Otto Bernstein Jerry Speyer
    Black millennials increased African American homeownership in 2020, but the road ahead is 'going to be a challenge,' experts say http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/qKmJU64V0Sc/black-americans-face-systematic-bias-homeownership-2021-3 A for sale sign is seen on a single family home January 30, 2008 in Vallejo, California.

    David Paul Morris/Getty Images

    • Amid a global pandemic, Black millennials led a boom in African American homeownership in 2020.
    • But racial disparities in wealth, education, employment, and homeownership still persist for Black Americans.
    • Homeownership is "going to be a challenge for all millennials, but mostly for Black millennials," an expert told Insider.
    • See more stories on Insider's business page.

    During a pandemic that hit Black communities hard, millennial buyers represented the bulk of African Americans' home purchases in 2020.

    Black adults between the ages of 26 and 39 sparked a nationwide rise in the homeownership rate for African Americans, CNN Business reported.

    According to a November released by the National Association of Realtors, 5% of home buyers during the first three quarters of 2020 were Black, compared to 4% in 2019. Despite a 1% increase, US Census data shows Black millennials raised the homeownership rate for African Americans more than two percentage points over the same time frame. The homeownership rate for Black Americans grew to 47% during the second quarter of 2020 compared to 44% during the first quarter.

    In addition to historically low interest rates, pandemic fatigue, and fewer expenses, experts say the recent surge is also contributed to the "buying power" millennials have compared to older generations.

    "This new surge or uptick in the homeownership rate is really about the buying power of millennials and the consciousness that, 'hey, in order for me to really have a stake in my community and in my country, I need to own,' and I do think that millennials really understand this idea," Andre Perry, a fellow at the Brookings Institution, told ABC News.

    Lawrence Yun, chief economist at the National Association of Realtors, told Insider that homeownership is surging among millennials overall. Of those buyers, Black millennials have been buying homes at higher rates and have disproportionately contributed to the surge in Black homeownership, which "is the path to a middle-class lifestyle and wealth," Yun said.

    Systematic racism contributes to the disadvantages Black people face when trying to buy or sell a home.

    Although during the pandemic many Americans have rushed to purchase property, taking advantage of low mortgage rates which have led to homes selling rapidly, Black Americans still face hurdles to becoming homeowners or participating in the housing market.

    T. Mitchell of Salt Lake County, who wanted to remain anonymous for her family's privacy, told Insider that her house was appraised for $100,000 less than its value when attempting to refinance for 2 points lower. She also said the interaction with the appraiser was "uncomfortable, but not unbearable."

    "When the appraiser showed up, he wouldn't wear a mask and was taking pictures in a strange way. He was clicking the camera at hip level," said Mitchell. "I thought that was weird and later when I saw the photos in the appraisal they were unflattering."

    Mitchell, who is a Mexican and white, has a blended, multiracial family. Her husband is Mexican and Black, and her two daughters from a previous marriage identify as Black. She said the maskless appraiser was staring at their family photos with a strange smirk on his face as he walked through their home.

    When they got the appraisal, it was approximately $100,000 less than expected.

    "He refused to comparable properties that were literally on my street and used inferior homes that were not in our neighborhood and lower-priced," said Mitchell. "We appealed his appraisal and he refused to change it or use our 5 comparable properties."

    Some Black homeowners had gone extra lengths such as changing their identity to skirt racial bias.

    When an appraiser visited the home of Paul Austin and his wife Tenisha Tate Austin - who spent $400,000 on renovations - they were told the property was worth $989,000. It was valued at just $100,000 more than what they originally purchased it.

    The Austins had their white friend pose as the homeowner, the home value increased substantially to $1.4 million, according to ABC 7.

    Abena and Alex Horton, a biracial couple, also received a lower home appraisal despite living in a predominately white neighborhood in Jacksonville, Florida, the New York Times reported.

    When a second appraiser came to look at the house, Mrs. Horton, a Black lawyer, conducted an experiment: She removed anything that could be deemed as "Black" and "whitened" her home. She left her husband alone this time, according to the New York Times.

    The new value of the home was $465,000 - $135,000 more than their first appraisal.

    , Black people in the US are likely to pay around $13,000 more on their mortgages due to a variety of factors including higher interest rates, less opportunity to refinance, and higher property taxes.

    As Insider's Barbara Smith previously reported, this extra amount has been referred to in the study as a "Black tax."

    The 'Black tax' persists.

    Shawn Rochester, entrepreneur and author of "The Black Tax," told Business Insider that the "segregation tax" is perpetuated by a systemic and unconscious bias against Black people. It also steepens the disparity between white and Black Americans in housing and homeownership.

    For decades Black Americans were left out of government programs that helped other citizens build wealth. In 1863, they were denied access to the Homestead Act, which promised 160 acres of land to citizens in exchange for a small fee and five years of cultivating the land.

    In recent years, discrimination has continued to widen the homeownership gap for Black Americans. A lack of affordable housing in some areas has kept Black people out of certain neighborhoods, but they're also excluded.

    The Fair Housing Act of 1968, which prohibited housing discrimination based on race, religion, sex, and national origin, was a follow-up to the Civil Rights Act of 1964 and intended to address issues facing African Americans who had trouble renting or purchasing homes in certain residential areas because of their race or national origin.

    But despite legislation and programs to bridge the homeownership gap, Black Americans still stagger behind their white counterparts. They pay higher costs in mortgage interest payments, insurance premiums, and property taxes. Also, Black-owned homes are appraised at lower values. Also, lower incomes and higher rates of poverty, combined with difficulties in getting mortgage approval mean that .

    When Black people were able to become homeowners around 1865, the value of their homes was lower in comparison to those of their white counterparts. Overall, the homeownership rate among white Americans is 73%, while among Black Americans the rate hovers at 43%, Business Insider's Joseph Zeballos-Roig reported.

    , this gap in home values, or "segregation tax" imposed on black homeowners, primarily resulted from a high degree of racial segregation in certain neighborhoods. The report analyzed the value of Black homes in the 100 largest metropolitan areas in 1990. Black homeowners receive 18 percent less value for their homes than white homeowners, according to the study.

    The only factor that explained variations in the black-white home value-to-income ratio among metropolitan areas was the degree of residential segregation. The higher the level of segregation, the wider the gap between Black and white Americans, according to the report. The lower the segregation, the narrower the gap.

    Bloomberg's Citylab released a study in 2019 that found homeowner associations (HOAs) tend to be run by richer white or Asian Americans. Critics of HOAs say the organization encourages "exclusion" and racial segregation. HOA residents are disproportionately more likely to be white or Asian, and disproportionately less likely to be black or of another race than non-HOA residents, the study says.

    Future homeownership is going to be a 'challenge' especially for Black millennials

    Though record-low mortgage rates have drawn many millennials to buy homes, the future is beginning to look bleak. Yun said there's not enough inventory, prices are starting to rise again, and mortgage rates are starting to pick up.

    "It's going to be a challenge for all millennials, but mostly for Black millennials because of wealth disparity and discrimination," Yun said.

    Since taking office, President Joe Biden has pushed for racial justice policies through executive orders, signing one on January 26 to advance equity and take the first steps to root out systemic racism in housing. Biden said he will direct the Department of Housing and Urban Development (HUD) to take steps necessary to redress racially discriminatory federal housing policies that have contributed to wealth inequality for generations.

    A significant portion of Biden's housing plan is focused on affordable and accessible housing for low-income individuals. According to a March 2019 report by the National Low Income Housing Coalition, there's a shortage of affordable homes to Americans who desperately need them.

    To combat this, the Biden administration's housing plan would push for the reinstatement of the , which has helped secure financing for in partnership with housing finance agencies.

    According to Yun, a combination of policy and tax incentives would fix inequality in homeownership for Black people. Biden proposed a tax credit for first-time homebuyers of up to $15,000 that would encourage Americans with modest means or middle-class roots to purchase a home.

    "It would benefit all people, but mostly the younger generation since the older generation probably owns a home already," said Yun.

    Read the original article on Business Insider

    [Author: bgrant@insider.com (Bre'Anna Grant)]

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    Sun, 11 Apr 2021 11:30:47 +0000 BlogLikes - Find Most Popular Blogs Real Estate News Abc US Trends Bloomberg Joe Biden New York Times Hud Biden Abc News Brookings Institution Black Mitchell Jacksonville Florida National Association of Realtors Yun Department of Housing and Urban Development HUD National Low Income Housing Coalition Barbara Smith Lawrence Yun Citylab Paul Austin Austins US Census Housing Discrimination Black Americans Andre Perry Redlining Black Homeownership Alex Horton Abena Joseph Zeballos Roig Black homeowners Shawn Rochester Bre Anna Grant Mitchell of Salt Lake County Tenisha Tate Austin Mrs Horton Also Black