Business tagged posts

Housing Market Gains More Value In 2020 Than In Any Year Since 2005

After a record-setting year of home sales in 2020, the housing market still shows no sign of cooling off.

U.S. housing gained about $2.5 trillion in value in 2020 — the most in a single year since 2005, according to a new Zillow analysis. The full stock of U.S. housing is now worth $36.2 trillion.

Strong demand drove intense competition among buyers, causing homes to fly off the market at the fastest pace Zillow has recorded and pushing prices higher. 

Housing demand was already strong coming into the year with the large Millennial generation aging into prime first-time home-buying age and mortgage rates hovering near record lows...

Read More

Billionaire Robert E. Smith Lists In Malibu’s Coveted Carbon Beach

The stretch of sand frequently referred to as Billionaire’s Beach has a new listing to add to the books. Robert E. Smith, founder of Vista Equity Partners, has put his four bed, five bath home on the market for $24.5 million after purchasing it two years ago for $18.7 million. This was quite a discount since the asking price at the time is the same price Smith is asking now. In the two years since he purchased the home it has been on the market as a rental for between $30,000 and $50,000 per month, but now it is back on the market as a fully-fledged sale.

Malibu’s Carbon Beach previously held the record for the most expensive Los Angeles home sale—a $110 million transaction when Hard Rock Cafe founder Peter Morton sold his beach front abode to natural gas b...

Read More

Mortgage Interest Rates Slide Again To A Brand New Record Low

The new year has kicked off with a new interest rate, and it is lower than it has ever been. Mortgage interest rates closed at 2.65% last week for 30-year fixed-rate loans, based on the weekly report from Freddie Mac. This is down from 2.67% the previous week, which was only one basis point higher than the previous lowest rate on record. The 15-year fixed-rate was 2.16%, also a record low and down from 2.17% the week before.

These low rates are happening in lockstep with rising prices around the country as sellers realize buyers have more buying power and can meet the higher sales prices. Data from Redfin show sales prices rose 14% during December compared to the year before, for a national median of $320,714...

Read More

3 Things Every Home-Buyer Should Know In 2021

Spending a lot more time at home last year led many Americans to decide it’s time to move. You might be seeking more space, relocating to a new area, or simply want to take advantage of a great opportunity (and even greater mortgage rates). If you’re one of the millions looking to move to a new home this year, it’s important to understand the current market. Here, I’ll share three tips that will help you find your dream home, get your offer approved, and end up with the absolute most for your money.

1. Get Your Ducks In a Row Before Looking.

Upgrading to a bigger home is now top of everyone’s list. It’s a competitive market, and you will encounter many other buyers if and when you decide to put in an offer...

Read More

Trahan Architects And Spackman Mossop Michaels Revealed Today Their Design For The Renewal Of Luther George Park With A Generous Grant From The Walton Family Foundation In Conjunction With Their Design Excellence Program.

Spackman Mossop Michaels and Trahan Architects revealed today their design for the renewal of Luther George Park located in downtown Springdale, Arkansas. The project was commissioned by the Downtown Springdale Alliance which received a grant from the Walton Family Foundation in conjunction with their Design Excellence Program to jump-start implementation of its downtown master plan with the expansion and renovation of Luther George Park...

Read More

A Look At Park-Like Estates For About $15 Million In Los Angeles, France And Vail Valley

When it comes to these homes, it’s all about location, location, location.

From a modern tour de force in Los Angeles to a sprawling villa in southeastern France, there’s no shortage of scenery with these world-class properties. Here’s a closer look at what about $15 million buys in the Bel-Air, Mougins and Vail Valley housing markets.

Avon, Colorado

Located a few miles west of Vail in Avon, the gated community of Mountain Star is a low-density, 1,300-acre enclave of 90 residences. Rolling meadows, sage hills and forested glades create a scenic backdrop for the community...

Read More

David Geffen Sells Beverly Hills Development Site For $34 Million

The hits keep on coming for David Geffen.

The media magnate this week unloaded another prized piece of his real estate portfolio, selling a development site on Beverly Hills’ so-called “Billionaire’s Row” for $33.75 million.

It was only a year ago that Geffen purchased the one-acre lot for $30 million. At the time of the sale, the property on North Hillcrest Road had been marketed with plans for a 24,500-square-foot modern mansion designed by architecture firm for Shubin Donaldson, according to the Los Angeles Times.

Nestled between the Bird Street...

Read More

Five Issues New York City Must Address To Reinvigorate Itself.

With the Presidential election decided, it’s time for New Yorkers to start thinking about a new Mayor. Since in New York City the Democrat almost always wins, the primary which occurs in June of 2021 will probably decide the mayoralty. DeBlasio has fulfilled his two terms and is ineligible to run again.

Clearly, the city has a number of issues to address in order to reinvigorate and burnish its global stature. These issues, many brewing even before the pandemic laid waste to several sectors of our economy, including jobs, anti-business feeling, housing, quality of life, and crime...

Read More

The 10 Most Expensive Zip Codes For Buying A Home

A market defined by intense demand for relatively tight supply has pushed home value growth to record levels across the country. To get an idea of where home prices have been resilient in the face of a pandemic, real estate data provider Property Shark compiled a list of the most expensive Zip codes across the country. 

The study took into account all residential transactions closed between January 1 and October 15, 2020. Due to several ties, the ranking includes a total of 121 Zip codes. Overall, 13 Zip codes posted median home values of $3 million or above. 

In 78 of the 100 priciest Zips in the country, median values have been on the rise in 2020, ...

Read More

Pet-Friendly Apartments In New York City For Every Budget

More dogs and cats are finding homes during the coronavirus pandemic, as many people have turned to furry friends to fill the emotional void while they social distance in place. But finding a home for both man and man’s best friend isn’t always easy, particularly in some urban areas.

New York City has traditionally been unfriendly to dogs and cats — about 75% of landlords and co-ops don’t allow for pets; however, increased demand for pet ownership coupled with changes to the basic fabric of daily living have already begun to impact the housing market.

In some cases, landlords and owners are making excepti...

Read More