Home prices grew in 93% of markets in Q1 2024: NAR
Home prices increased in most U.S. metro areas in Q1 2024, with 93% showing gains and 30% experiencing double-digit increases.
The rising prices are attributed to the insufficient housing supply, not meeting the full demand, despite the highest mortgage rates in two decades. [ more ]
Afterpay Co-Founder Pays $65M for Holmby Hills Mansion
The co-founder of Afterpay, Nick Molnar, linked entity Lapro Property Trust bought the Funny Girl Estate in Holmby Hills at $65 million, the priciest residential sale in LA County in 2023. [ more ]
Despite falling real estate prices elsewhere, Silicon Valley retains high values due to population stabilization and minimal decline during the pandemic. [ more ]
Elias: California's housing problems not fixed by allowing more density
Density as a solution to California's housing problem is not working out well due to a decrease in building permits despite legislative efforts. [ more ]
Sale closed in San Jose: $1.9 million for a three-bedroom home
The real estate market in San Jose, California, is seeing high property values and prices per square foot for single-family homes.
The properties mentioned are well-maintained, with desirable features such as multiple bedrooms, baths, and fireplaces, reflecting the upscale nature of the neighborhood. [ more ]
'Showstopping' estate with life-changing views hits the market in California. See it
A stunning Hollywood Hills house owned by Brett Nestat is listed for $4.495 million, exhibiting unmatched features like a showstopping infinity edge pool and panoramic views. [ more ]
Madison Realty Supersizes LA Multifamily After Acquisition
Madison Realty Capital is reconfiguring a former project at 6401 Wilshire Boulevard with plans to add 65 units, bringing the total to 177 units.
Madison acquired a significant portion of Neil Shekhter's properties through deeds-in-lieu, with Hankey Capital helping to refinance some sites. [ more ]
Rupert Murdoch Puts Manhattan Triplex Penthouse Back up for Sale
Rupert Murdoch is reducing the price of his NYC penthouse to $38.5 million, previously bought for $43.01 million in 2014.
The penthouse offers stunning views of iconic NYC landmarks, features a double-height great room, and is being marketed towards art collectors. [ more ]
Hey, New Yorkers: Are You Trying to Sell Your Home Using a Real Estate Agent? We Want to Hear From You.
Real Estate Board of New York (REBNY) amended its rules on agent compensation in response to a legal settlement affecting National Association of Realtors.
Buyer's agent compensation now comes directly from sellers, allowing negotiation of the offer. [ more ]
The changing landscape of Boston's three-deckers: Rising prices and diminishing dreams
Three-deckers were historically a way for working-class families to enter the housing market and build wealth through rental income.
Affordable three-deckers are now more likely to be found in cities outside Boston like New Bedford, Fall River, Lawrence, Lowell, and Worcester. [ more ]
Compass CEO Reffkin believes agents will still be valued in a post-settlement world
Compass CEO Robert Reffkin expresses confidence in the company's ability to continue growing and succeeding in the real estate market, emphasizing market share gains and revenue increase despite recording a net loss. [ more ]
Austin's economy, once a Covid-era economic superstar, is facing challenges with the departure of Oracle's headquarters and a significant increase in commercial office space vacancy and fall in real estate prices. [ more ]
Realtor.com CEO Damian Eales: CoStar is lying about being the No. 2 portal
Realtor.com CEO disputed CoStar Group's traffic claims, highlighting discrepancies in data and accusing CoStar of misleading audience figures. [ more ]
Oceanfront Opulence: Freshly Renovated $78.5M Palm Beach Mansion Is the Week's Most Expensive Home
Seaside estate in Palm Beach, FL hits the market for $78.5 million, nearly double the price from two years ago.
Other expensive properties this week include a California compound once owned by Leonardo DiCaprio and a mountaintop retreat in North Carolina. [ more ]
Bird Scooter Founder Travis VanderZanden Asks $8.5M for His South Miami Nest
Travis VanderZanden listed his South Florida home for $8,490,000, looking for a profitable return from its 2023 purchase price of $6,800,000.
VanderZanden faced a significant loss of about $11 million on a Los Angeles property, bought for $21.7 million in 2020 and sold for $10.8 million after being on and off the market for several years. [ more ]
A settlement alters the traditional 6 percent sales commission in U.S. real estate, shifting the responsibility and potentially reducing the commission rates internationally. [ more ]
Gemdale USA Lists Calabasas Office Campus for Sale at $82M
Gemdale USA is looking to sell an office campus in Calabasas for $82 million, just $3 million more than its purchase price in 2021.
The building was originally bought by Rising Realty and Fortress Investment Group in 2013 for $38 million and sold in 2021 when it was 92% leased. [ more ]