Housing Market Update: 9% Increase in Pending Home Sales is Slowest...

Sep

04

2021

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By Troy Warren

Housing Market Update: 9% Increase in Pending Home Sales is Slowest Growth Since June 2020

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by Tim Ellis | RedFin.Com Troy Warren for CNT #RealEstate Homes are also taking longer to sell. Still, prices are up 15% from a year ago. Pending home sales rose 9%, the slowest growth since June 2020, while the actual number of pending sales fell to the lowest level since April 2021. More home sellers have started slashing their prices—another sign of softening seasonal homebuyer demand. Still, prices remain elevated, up 15% from a year earlier. “The housing market has clearly become slightly more favorable to buyers,” said Redfin Chief Economist Daryl Fairweather. “Homes are taking longer to sell, which gives…

Aug

28

2021

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By Troy Warren

Los Angeles: Condo’s $13M Sale Sets Local Record

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BY DEGEN PENER | HollywoodReporter.Com Troy Warren for LosAngelesNewsAndTalk.Com #RealEstate The Pendry Residences West Hollywood — which feature private pools and dedicated elevators — offers a luxury-to-the-max take on Southern California indoor-outdoor living. At the beginning of the pandemic, the appeal of residential towers plummeted as people sought extra personal space. Cut to summer 2021, and condo sales are on the rise in L.A., led by the recent sale of a two-bedroom, 2,681-square-foot unit — with an outdoor terrace that’s bigger than the condo’s interior — at the new Pendry Residences West Hollywood for $13 million. At $4,848 a square foot, that’s a new…

Aug

21

2021

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By Troy Warren

Housing Market Update: 5% of Home Sellers Dropped Their Price in Recent Weeks

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by Tim Ellis | RedFin.Com Troy Warren for CNT #RealEstate As demand eases and sellers adjust their price expectations, the housing market is slowly aligning to typical seasonal patterns. The average share of homes with price drops each week is rapidly climbing during a time of year when it is usually relatively flat. This measure has now passed 5%—its highest level since the four-week period ending October 10, 2019. That said, home prices are still rising and homes are selling very quickly, just slightly slower than before. Homebuying demand remains strong and the market is tipped heavily in sellers’ favor.…

Aug

20

2021

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By Troy Warren

Paris Hilton, Carter Reum Buy Oceanfront Malibu Getaway

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BY JAMES MCCLAIN, DIRT.COM Troy Warren for CNT #Celebrity #RealEstate The couple paid $8.4M for the nearly 3,000-square-foot house, which the late Universal Pictures chairman Tom Pollock once owned. When the pregnancy rumors become too tedious or selecting those 10 wedding dresses for her upcoming nuptials becomes too stressful, Paris Hilton can now escape from her longtime Beverly Hills stronghold to the more laidback beach community of Malibu. Records reveal America’s favorite hotel heiress-turned-socialite-turned-business mogul and her fiancée Carter Reum — a venture capitalist and son of the late tycoon Robert Reum — have plunked down $8.4 million for an oceanfront house on desirable La…

Aug

19

2021

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By Troy Warren

Why buying property in your kid’s college town may be a smart move

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By Zach Wichter, Bankrate.com Troy Warren for CNT #RealEstate Growing trend has parents buying property for kid to live in as both a way to cut costs and as an investment Room and board at school can be a major expense for students who go away to get an education. Jeffrey Decatur, a real estate agent with RE/MAX Capital in Latham, New York, said he’s seeing a growing trend of parents buying property for their children to live in during school as both a way to cut costs and as an investment. He spoke to Bankrate about this strategy, and talked…

Aug

19

2021

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By Troy Warren

Atlanta: New Airbnb hosts in Atlanta made more than $8 million in first half of 2021

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By Nancy Clanton, The Atlanta Journal-Constitution Troy Warren for AtlantaNewsAndTalk.Com If you’re considering listing your extra space as a haven for pandemic travelers, you live in the right city to succeed Do you have an extra room or guest house? You might want to consider putting it to work. Airbnb reported Wednesday that new hosts with only one listing earned millions in the first six months of 2021. Nationwide, Airbnb said in a press release, 60% of these new hosts were women who collectively made more than $83 million. Senior citizens — people 60 years or older — earned more than…

Aug

14

2021

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By Troy Warren

Housing Market Update: Balance is Slowly Returning as Homebuying Demand Moderates

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by Tim Ellis and Taylor Marr | RedFin.Com Troy Warren for CNT #RealEstate Nearly 5% of listings saw price drops, the highest level since 2019. Home sellers are increasingly realizing that the housing market is no longer heating up. The share of homes for sale with a price drop rose for the fifteenth consecutive week to 4.9%, a level last seen in 2019. Buyers may also be starting to notice that homes are staying on the market a little longer—a median 17 days—as more homeowners are listing their homes and at more realistic prices. Asking prices have eased back to where they…

Aug

13

2021

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By Troy Warren

CAA Talent Agent Josh Lieberman Buys Paul R. Williams-Designed Brentwood Mansion, Lists 90210 Estate

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BY WENDY BOWMAN, DIRT.COM Troy Warren for CNT #RealEstate #Celebrity The Brentwood residence, built in the 1930s for opera singer and actress Grace Moore, was also once owned by Tyrone Power. Pioneering Black architect Paul R. Williams — a favorite of Golden Age Hollywood elite and other assorted jetsetters — designed this stately 1930s manor for opera singer-actress Grace Moore and her husband, Spanish actor Valentín Parera. But the couple ultimately became disenchanted with Hollywood, fled the city and never actually lived in the Brentwood house — legendary actor Tyrone Power and his French wife Annabella were its first occupants, having bought the place soon after…

Aug

11

2021

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By Troy Warren

Brooke Shields Ready To Part With Her Pacific Palisades Pad for $8.2M

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By Claudine Zap | Realtor.Com Troy Warren for CNT #RealEstate The only thing between Brooke Shields and her Pacific Palisades home? A new owner. The former Calvin Klein jeans model and actress has put her woodsy retreat on the market for $8,195,000, Dirt reported. Shields purchased the rustic abode in 1989 for $2.47 million. So the star of “The Blue Lagoon” and “Endless Love” stands to clear some serious capital gains, should a deal pan out. Shields has long since relocated to New York City, splitting time between a West Village townhouse and Hamptons getaway. But she continued to hold on to her SoCal home and has…

Aug

07

2021

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By Troy Warren

Housing Market Update: Homebuying Conditions Improve Slightly as Mortgage Rates Decline

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by Rachel Musiker | RedFin.Com Troy Warren for CNT #RealEstate The five-month streak of record-setting home prices has ended; supply is inching up. At $362,750, the median home sale price did not set a new record high for the first time since early March. Instead it was flat (-0.2%) from the four-week period ending July 25 and up 18% from a year earlier. Trends for home prices, sales and new listings are starting to resemble the patterns we typically expect for this time of year, which is news after a year of unpredictable and insatiable demand for homes. Measures of…

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