Monday, December 31, 2018

Turpins’ ‘House of Horrors’ Is Up for Sale—but Who’d Buy It?

house of horrors

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On the outside, this dark-brown, tile-roofed home in Perris, CA, looks no different from the thousands of other stucco abodes in Southern California. But on the inside, the house comes with something else: a history. A tragic one.

The California home where David and Louise Turpin allegedly tortured 12 of their 13 children is currently for sale on auction site Hudson & Marshall, which is accepting bids through Wednesday. This home, which became known far and wide as the “house of horrors,” is where the Turpins reportedly shackled their children to furniture with ropes and chains and starved them to the brink of death.

Last January, the Turpins were arrested after their 17-year-old daughter managed to escape captivity and call 911. In November, the four-bedroom, three-bathroom house went into foreclosure. The last appraisal of the property valued the home at $353,138, but real estate experts predict that it will sell for much less now.

The auction site fails to mention the home’s stomach-churning background, but real estate appraiser Orell Anderson—who valued the residences where Nicole Brown Simpson and JonBenĂ©t Ramsey were murdered—thinks most buyers will have heard of this home’s grim past, and lowball accordingly. As of Monday, the most recent bid comes in at $280,001.

Anderson is not surprised. As he puts it, “Who’s going to want to live there?”

Will anyone buy this ‘house of horrors’?

Home buyers unfazed by grim crimes are a rare breed. Anderson anticipates that buyers with children will not go near this abode, and most likely, it will be purchased just to be razed.

“A redevelopment agency or the homeowners association will want to tear this house down,” says Anderson. “Hopefully, they’ll put a plaque or a monument in its place.”

Anderson compares the tragedy of the Turpin home with the site of the apartment complex where cannibal and serial killer Jeffrey Dahmer resided until his arrest in 1991. After Dahmer was sentenced to life in prison for killing 17 boys and young men, the entire apartment complex was sold to a redevelopment agency and demolished the following year.

“Just like Dahmer, it will sell for the land value,” says Anderson. “This ‘house of horrors’ is located in a new subdivision. It wouldn’t look out of place to tear it down and put something else in that spot.”

Another possibility? An investor could buy it, fix it up, and rent it out, notes Anderson.

“There are multiple homes in this neighborhood that are for lease,” he says. “Short-term occupants have a willingness to pay a low rent and tend to not care as much about the tragic history of the actual home.”

So perhaps there’s hope that this house of horrors might be able to make a fresh start after all.

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Kristen Wiig Sells Midcentury Modern Home in Silver Lake for $5.2M

Kristen Wiig

GettyImages/Jason LaVeris

Funny lady Kristen Wiig has a secret talent. In addition to being a writer, producer, and actress, she has a gift for real estate.

The 45-year-old just sold her impeccably renovated and restored midcentury modern abode in the Silver Lake area of L.A. for $5,225,000, a generous $100,000 over ask. The “Saturday Night Live” alum placed it on the market only about two months ago, and it was quickly snapped up, Variety reports.

The home was last purchased in 2014 for $1.7 million. According to Variety, the sale price is one of the highest for the area—almost three times what the actress paid for the place less than five years ago.

Kristen Wiig’s midcentury modern home

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Sliding glass doors lead to a wraparound deck.

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Central fireplace in living and dining room

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Deck with Silver Lake views

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New screening room

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Pool and spa

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The comedian’s former home is seriously nice. The three-bedroom, three-bedroom abode from 1954 is known as the Martin Residence, after architect Albert P. Martin. Perched on about a half-acre lot above the Silver Lake Reservoir with Silver Lake views, it features tons of indoor-outdoor space, a wraparound deck, multiple patios, a pool and spa, landscaped grounds, and a two-car garage. 

In addition to the original layout of formal living and dining rooms, office, and den, a new screening room was added and a new poolhouse with studio and sauna was also added. 

Along with the sliding glass doors, which allow for plenty of expanded living space outdoors, original design details were preserved, such as hand-painted tiles, a concrete block central fireplace, and a child’s mural on a pocket door. Cedar plank ceilings and cement tile floors run throughout the home.

Wiig, who’s set to star as Cheetah in the upcoming “Wonder Woman 1984,” has had a hit-making career, starring in the blockbusters “Bridesmaids” and the reboot of “Ghostbusters.” 

The star continues to try her hand in the real estate game. She sold a place in Los Feliz last year for $2 million. 

And Wiig still owns the renovated Case Study House #10 in Pasadena, which she reportedly purchased for $2.96 million in 2017, close to where her fellow A-lister Meryl Streep also moved in.

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Star Wideout Brandon Marshall Offers Opulent Chicago Penthouse for Sale or Rent

Brandon Marshall

Getty Images/ Matt Winkelmeyer; realtor.com

NFL wide receiver Brandon Marshall is selling his exquisite Chicago penthouse. Currently a free agent, Marshall has it listed for sale for $4 million or to lease for $20,000 a month.

Perched atop the Montgomery Ward building, this four-bedroom, 4.5-bathroom, 6,400-square foot condo occupies what was once the observatory of the historic structure. Built in 1895, the Montgomery Ward Tower was once the tallest building in the Windy City. The resulting unit is a one-of-a-kind residence in the heart of the city, on the celebrated Michigan Avenue.

Spread across four floors, with commanding views of both the city skyline and Lake Michigan, the home’s elegant and formal interiors are supplemented by more than 2,000 square feet of outdoor space, including a wraparound terrace and two rooftop decks.

Ornate 20-foot ceilings and other reminders of the building’s history are matched with contemporary, updated modern amenities, to create a space that marries the best of the past and present.

Living room

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Kitchen

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Dining room

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Office

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Master bed

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Master bath

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Rooftop deck

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According to property records, Marshall purchased the condo for $3.9 million in 2014, while he was playing for the Chicago Bears. After being traded to the New York Jets in 2015, the wide receiver put the property on the market for $6 million. Despite knocking millions off the price, he still hasn’t managed to catch a buyer.

Marshall signed with the New Orleans Saints in November, but was released in mid-December and never saw any game action for the Saints. A six-time Pro Bowler, he’s just 30 catches short of 1,000 career receptions, and he’s hauled in 83 touchdown passes over his 13-year career in the NFL.

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Real Estate Briefs: New townhomes in West Midtown, Lenbrook expansion and more - Atlanta Intown

Real Estate Briefs: New townhomes in West Midtown, Lenbrook expansion and more  Atlanta Intown

Harry Norman, Realtors has launched a commercial real estate department to provide buyer, seller, landlord and tenant representation for all commercial ...



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One Year On, These Housing Markets Are the Winners and Losers of U.S. Tax Reform

Pola Damonte via Getty Images

The average luxury homeowner in Williamson County, Tennessee, part of greater Nashville, has watched the value of his or her house steadily rise more than 10% over the past year—outperforming the general U.S. housing market and due, in part, to federal tax reform enacted one year ago.

The Tax Cuts and Jobs Act of 2017, effective on Jan. 1, 2018, has drawn clear winners and losers among America’s luxury housing markets. The new rules are making states with no income tax, including Tennessee, Florida, Texas and Washington, attractive to affluent individuals who expect their tax liability to rise, while dampening sales and price growth in regions of the U.S. that levy high state and local taxes.

“At this point most people know the parameters of the tax plan,” said Danielle Hale, chief economist at Realtor.com. “The luxury data already reflects this, and it’s the first place where we expected see it.”

For most individuals, the full impact of the new rules will be felt for the first time when people file returns under the new rules this tax season. Armed with more clarity, affluent homebuyers will continue to drive the dichotomy between low- and high-tax markets in opposite directions in 2019.

The Winners

Low-tax Florida, which was already a bastion for retirees and ex-pro athletes, is one such winner.

Over the past year, counties across the Sunshine State have upended a list of the fastest-growing luxury markets compiled monthly by Realtor.com, replacing areas such as Brooklyn and Queens, New York, and California’s San Francisco’s Bay Area, which all dominated the luxury rankings only a year ago.

“South Florida along with the oceanside, starting with Miami and moving up the shore, remarkably are showing rising sales and rising prices,” said Jonathan Miller, a New York-based real estate appraiser who tracks a handful of key luxury U.S. markets. “I expect that is related to the tax law.”

Million-dollar-plus home sales have soared more than 20% since last year in six Florida counties, including Sarasota; Broward, which encompasses Fort Lauderdale; and Orange, which includes Orlando, according to data from Realtor.com, which, like Mansion Global, is part of News Corp.

Anecdotally, real estate agents have attributed the luxury boom to buyers from high-cost areas in the U.S. such as New York, Connecticut and even California flocking to Florida. “The Northeast is Florida’s new foreign buyer,” Mr. Miller said.

Other luxury markets riding high with help from the tax overhaul include Tarrant County, Texas, north of Dallas, where million-dollar-plus sales skyrocketed 47.2% in 2018, according to the latest data from Realtor. Luxury homeowners in Snohomish, Washington—which also boasts no state income tax—have seen prices rise 12.3% in the past year. Realtor defines luxury as the top 5% of sales.

The Losers

Rather than causing a mass exodus from the less advantageous locations, the tax changes are likely exaggerating a trend that was already underway. The scale of migration to low-tax areas like Fort Lauderdale and Nashville since the tax reform won’t be clear until late next year, when the Census Bureau releases 2018 state-to-state data, said Nicole Kaeding, federal projects director at the Tax Foundation, a think tank in Washington, D.C.

It seems unlikely that taxpayers would uproot over a few thousand dollars, Ms. Kaeding said. Rather, it’s the marginal cases where the new rules hit wealthy individuals much harder.

Roughly 80% of all U.S. taxpayers got a tax cut under the new code, while 15% will see no meaningful change, Ms. Kaeding said.

Only 5% will see their taxes increase, a minority made up of filers whose income is over $500,000 per year and who pay significant sums in state and local income tax, also known as SALT, Ms. Kaeding said. The new tax code limits the SALT deduction to only $10,000, peanuts compared to the tens of thousands of dollars some in high-tax areas pay each year.

“This is someone like a New York attorney. If you’re a partner in a New York law firm, you have to pay income tax in every state where the firm works,” Ms. Kaeding said. Such a person might have written off over $100,000 in SALT under the old system. “Now the cap on the SALT deduction could mean you’re paying more in taxes.”

Even the average tax filer in Manhattan deducted a whopping $25,627 in SALT from their federal tax bill in 2016, according to the most recent data analyzed by the think tank. Californians living in Marin County, north of San Francisco, took an average deduction worth $19,334.

The new tax law also reduced the amount luxury home buyers can deduct in mortgage interest for loans taken out from 2018 onward. It’s not as huge a hit as the SALT deduction limits, but combined, the two tax changes effectively raised the cost of living and owning a home in places such as New York City, New Jersey (where residents pay some of the highest property taxes in the country), Connecticut, Washington, D.C., California and Illinois.

In all those places, home values are expected to fall as buyers and sellers adjust to the new cost of living.

Exacerbating the Slowdown

Coincidentally, President Donald Trump’s major legislative victory has deeply exacerbated the housing rout in his own hometown. Manhattan’s luxury housing market was already in the midst of a price correction when Congress passed the new tax code, which combined with rising interest rates, dramatically slowed the pace of sales in 2018—including at Trump Tower, where the president keeps a lavish triplex penthouse.

Sales of homes for $1 million or more in Manhattan have dropped 12.5% from a year ago, according to data from Realtor. In Brooklyn, such sales have slowed 8.6% during the same time period.

In Suffolk County, New York, home to the Hamptons’ posh beach towns, million-dollar-plus sales slid 16.3% since last year, as home buyers shift their vacation house hunts southward.

Manhattan-based realtor Donna Olshan, who publishes a weekly report on luxury transactions, said she expects sellers in the borough will have to discount their homes roughly another 10% to entice buyers off the sidelines.

Besides Manhattan, one need only map wealthy districts that voted out their incumbent Republican in November to find high-end housing markets feeling down on the tax reform.

Such areas include Chicago’s wealthy suburbs, where voters ousted two Republican representatives in favor of their rookie Democratic opponents.

While there’s certainly more at play in the Chicago suburbs than tax and housing woes, the correlation is undeniable. Lake County, Illinois, which includes portions of both congressional districts, has seen luxury home prices stagnate in 2018 and sales plummet. The number of houses sold for $1 million or more in Lake County fell by one-fifth in 2018, according to the Realtor data.

Fairfax County, Virginia, where both luxury home values and sales declined in 2018, voted overwhelming for the Democrat, underdog Jennifer Wexton, and helped unseat a Republican incumbent who voted for the tax reform.

Voters also flipped six house seats from high-tax, high-income California. Most notable was Orange County, a longtime Republican stronghold that helped unseat 15-term Republican incumbent Dana Rohrabacher.

“The tax reform has not been a positive thing for our market,” said John Stanaland, a leading real estate agent in Orange County, a wealthy coastal area that includes posh Laguna Beach. “It’s been a factor in the market slowing.”

There has been a significant drop-off in showings and sales, particularly for mid-range luxury homes priced between $2 million to $4 million, Mr. Stanaland said.

In contrast to Florida, high state and local taxes in Orange County have dissuaded wealthy homebuyers from making the area their primary residence.

“We used to be about a 20% second-home market. I think we’re over 40% now,” Mr. Stanaland said. The new tax code “is not necessarily a hardship, but it really annoys people.”

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Brick & Stone New Build In Ontario, Canada

LOCATION: 138 Duncan Road, Richmond Hill, Ontario, Canada

SQUARE FOOTAGE: 9,555

BEDROOMS & BATHROOMS: 6 bedrooms & 8 bathrooms

PRICE: C$5,788,000

This newly built brick & stone home is located at 138 Duncan Road in Richmond Hill, Ontario, Canada.

It features approximately 9,555 square feet of living space with 6 bedrooms, 8 bathrooms, foyer with staircase, formal living & dining rooms, gourmet kitchen, breakfast room, family room, paneled office, rec room with wet bar, garage and more.

Outdoor features include a balcony and patios.

It is listed at C$5,788,000.

CLICK HERE FOR THE LISTING



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Saturday, December 29, 2018

Want To Know The Average Price Of A House The Year You Were Born?

My first stop after my birth at the hospital should've been a realtor.

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Real estate briefs - Naples Daily News

Real estate briefs  Naples Daily News

Real estate class. James D. York, a local Realtor, will instruct a real estate class in conjunction with the Collier County Public Schools and the District School ...



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Friday, December 28, 2018

Bing Crosby’s Former Rancho Mirage Residence on the Market for $5M

Bing Crosby’s Former Rancho Mirage Residence

Getty Images/ Gene Lester; realtor.com

Are you dreaming of a warm-weather getaway? A home built for “White Christmas” crooner Bing Crosby has come on the market in Rancho Mirage, CA, for $5 million. The home with the prestigious pedigree was last sold in 2005 for $2,625,000, and has bounced on and off the market since 2010.

Located in the exclusive community of Thunderbird Heights, the 1957 residence is 6,700 square feet on 1.36 acres. The single-level midcentury modern residence offers expansive indoor-outdoor space, walls of glass, and handcarved wooden doors.

Central to the home is a great room with a stone fireplace and bar. Sliding glass doors open to an outdoor living area, with space for dining and entertaining surrounded by manicured gardens, a pool, spa, and fire pits.

Handcarved wooden doors

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Great room

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Space for outdoor dining

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Kitchen with breakfast bar

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Pool and spa

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Master suite

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The layout contains five bedrooms, including an enormous 1,400-square-foot master suite with a sitting area and fireplace, as well as a spa bath. The other four bedrooms are also en suite, with 5.5 baths total.

The chef’s kitchen comes with a breakfast bar, granite counters, and stainless-steel appliances. Elsewhere there’s a billiard room and a home theater. 

“The home is all about indoor-outdoor living and traditional-meeting-modern design—and it overlooks such a gorgeous backdrop,” says listing agent Fredrik Eklund of Douglas Elliman. Indeed, the home affords dramatic views of the Coachella Valley, mountains, and desert.

The home has Hollywood connections in addition to Crosby. The attached two-bedroom casita with its own kitchen and separate entrance is rumored to have been visited by John F. Kennedy and Marilyn Monroe. True or not, the legend inspired the guest wing to be renamed the JFK wing.

The area has also been visited by celebrities and U.S. presidents alike, including Richard Nixon, Ronald Reagan, and Gerald Ford, who vacationed there. Barack Obama is also a regular visitor to this posh part of the desert.

Crosby, who died in 1977, was a singer and film star. His biggest hit was “White Christmas,” written by Irving Berlin. The holiday tune hit No. 1 on the charts and has sold over 100 million copies worldwide.

Along with Eklund, Linda Taglianetti, John Gomes, and Gail Vasquez, all of Douglas Elliman, represent the listing.

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Pending Home Sales Slump Again in November as Housing Market Faces Big Chill

home sales slump

Getty Images/Seth Joel

The numbers: Pending sales of homes in the U.S. fell again in November to a four-year low in another sign of widespread weakness in the real-estate market that’s likely to continue into 2019.

U.S. pending home sales fell 0.7% to a reading of 101.4 in November from 102.1, the National Association of Realtors said Friday.

One caveat: The latest report was compiled before a sharp drop in interest rates in the past month that have made mortgages a bit cheaper.

What happened: How big is the slowdown in home sales? NAR’s index, which tracks contract signings, is down 7.7% compared with a year ago.

Contract signings usually precede closings by about 45 days, so the pending-home-sales release is considered a leading indicator for the existing-home-sales report.

In November, pending sales were up 2.8% in the West and 2.7% in the Northeast, but they declined 2.3% in the Midwest and 2.7% in the South.

Sales are lower in all four regions as compared with the comparable time frame a year ago, however.

Big picture: Home sales and construction have taken a big hit from rising U.S. interest rates, while a shortage of skilled trade people has hampered builders. There are still plenty of people who want to buy a home, but prices remain relatively high, and the increase in mortgage rates hasn’t helped.

Lawrence Yun, the chief economist of NAR, said an extended government shutdown could reduce sales by as many as 40,000 homes a month because federal flood insurance is temporarily unavailable.

What they are saying?: “The latest decline in contract signings implies more short-term pullback in the housing sector and does not yet capture the impact of recent favorable conditions of mortgage rates,” Yun said.

Market reaction: The 10-year U.S. Treasury yield has retreated in recent weeks, falling to 2.75% from a seven-year high of almost 3.25% nearly two months ago. The decline still doesn’t bring mortgage rates back to where they were a year ago, but it might help goose home sales a bit.

The Dow Jones Industrial Average and S&P 500 had declined modestly as of this writing, with an up-and-down Friday in character for a seesaw holiday week on Wall Street.

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Well-Being Facilities, Designs From Top Pros and Sky-High Perks: The Amenities of 2019

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The competition for high-end condo buyers has seen developers offer splashy, even improbable extras, like the elevators that ferry cars up to residents’ apartments in the 60-floor Porsche Design Tower in Miami. But one of the latest trends in condo amenities is less about flash than serenity.

“Well-being” is the mantra in amenities right now, and it likely will be for much if not all of 2019, inspiring such perks as an outdoor yoga platform in West Hollywood to an adult treehouse on Manhattan’s Lower East Side, from a tranquility garden in south Florida to restorative baths and saunas in London’s Belgravia.

“People are very much focused on, as they have been, gym-related things— things that are good for the body,” said David Bistricer, founder of Clipper Equity, which with the Chetrit Group is developing Gramercy Square in Manhattan. “What we’re seeing now, is the mind—mental health—and taking time off from all the different things that are capturing our attention and competing.”

At Gramercy Square, developers consulted with integrative medicine and fitness firm La Palestra on the design of the 18,000-square-foot subterranean amenities club, opening in early 2019. Connecting four residential buildings, the club is meant to promote a sense of community with common lounge and dining areas as well as a sky-lit pool and gym. There will be a yoga room and, for the centerpiece, a studio designed and staffed by representatives of MNDFL, a meditation center in Manhattan.

Meanwhile, that outdoor yoga deck is a feature at 1030 Kings, a new boutique condominium in Los Angeles. It shares a view of the Hollywood Hills with an outdoor terrace, with lounge seating and a fire pit situated just above.

In the extensive gardens and outdoor spaces at the 80-story One Manhattan Square overlooking the East River, opening in early 2019, a treehouse will be just one of the spots to which residents can retreat—another, a traditional teahouse—in what will be one of the New York City’s largest private parks.

At 2000 Ocean in Hallandale Beach, residents will be able to meditate among lemon trees in the tranquility garden or grab a bite at the private Oceanside Café and Juice Bar, managed by wellness and fitness firm The Wright Fit. Chelsea Barracks, which will be built around seven traditional London garden squares, is but one example of the luxurious spas featuring treatments, hydrotherapy pools, and saunas inspired by Turkish-style baths known as hammams.

“It’s all about wellness,” says Gramercy Square’s Bistricer of the latest trend. “It’s something people are very much interested in and trying to get more of, to understand how this could help them lead a better life.”

Some Flashy Amenities Remain

The new turn toward mindfulness doesn’t mean developers will abandon other enticements designed to amuse, to thrill, or provide play time. Private HD theaters and communal dining rooms outfitted with chef’s kitchens for entertaining are practically de rigueur these days. The newly occupied Ten50 tower in downtown Los Angeles even has a rooftop drone landing pad.

Jim Linsley, president of GID Development Group, said his team considered “the way people want to live, or could live, in a high-rise urban environment” to come up with the enhancements at Waterline Square, a complex consisting of three towers, a public park and 100,000-square-foot underground amenities center under construction on five acres overlooking the Hudson River in Midtown Manhattan. Closings on apartments are expected to being in spring 2019.

The offerings cover about every imaginable want or need that residents of the 1,000-plus apartments might have and include a group of  “creative suites” for indoor gardening, recording music, making videos and creating art. At the other end of the spectrum, for sporty types, there is an indoor soccer field, a full basketball court, a tennis court, a 30-foot rock climbing wall, and a skateboard half-pipe.

“Given the size of our project and our three buildings, you could create a sort of community dynamic where there are various sports leagues for some of these spaces,” Mr. Linsley said, “so every Saturday there could be a soccer game or a set of soccer games going on. Same with the basketball court.”

The idea of a mini-city within a big city has a homebody appeal, he said. “Of course we want them to explore outside our project, all the great things that New York has to offer, but it’s nice to know that all of these things are housed within our project in a way where someone who wants to spend more time at home can.”

Sky-High Amenities

More and more new luxury buildings are taking amenities out of the basement and planting them on valuable real estate upstairs, and sometimes even on the penthouse level.

At Quay Tower, a boutique building on the Brooklyn Heights waterfront that will have just three to five condos on each floor, the views of Manhattan, the East River and downtown Brooklyn are a huge draw, so two residents’ lounges featuring an entertainment center, barbecues and a marble-clad indoor-outdoor fireplace are being placed on the penthouse level.

The building, which will open in summer 2019,  recently broke the borough’s residential price record when a single buyer bought two of the three penthouse apartments to combine, said Molly Townsend of Douglas Elliman Development Marketing and director of sales for Quay Tower, so the developers knew they were giving up valuable real estate. “Knowing that the views are just spectacular from the rooftop, and from the units themselves up and down the building, they wanted to offer that to everyone,” she said. “It was important for them that everyone had access.”

At Mckenzie Seattle, which opened in late 2018, the penthouse floor, the 40th, houses a number of amenities for residents’ use, including a conference room, entertainment area, and a lounge with a fireplace overlooking Puget Sound. A wraparound observation deck affords views of the Space Needle and downtown, as does the outdoor dog run outfitted with artificial turf.

This reach-for-the-sky impulse will also be reflected in downtown Miami’s Aston Martin Residences, a first for the legendary car maker, opening in 2022. Alejandro Aljanati, chief marketing officer at G&G Business Developments, said the placement of the building’s perks to the high reaches of the building—prime  floors 52 to 55—make them “Sky Amenities.”

“We decided give everyone living in the tower the same opportunity to enjoy the best combination of the views,” Mr. Aljanati said, adding that the craftsmanship of the building will “reflect the DNA of Aston Martin,” raising expectations.  “The main reason was that, and thinking our clients would really appreciate that lifestyle.” Another perk will be the free yacht service that will ferry residents from downtown to nearby beaches.

At Elysee Miami, opening in 2020, the Owner’s Sky Lounge with 360-degree views will be found on the 30th floor.  “We know that we’re making a big bet,” said Reid Boren, managing partner of Two Roads Development, of the decision to forego sale of the floor.  “For us, the decision is easy. We know the expectations of the million-dollar buyer to, in our case, $12-million buyer, and if you want to be successful, you have to give a great deal of value to the people purchasing in our building.”

Designer Living

Another valuable amenity is that which is embedded in style—a grand dining room, a private theater or a poolside retreat created by the hand of a famous designer. More and more developers at the high end are turning to designers to help distinguish their project from the next.

“For us it’s among the most important decisions we make when doing a project,” Mr. Boren said, who hired designer Thom Filicia of the television show, “Queer Eye for the Straight Guy,” to design interiors at Biscayne Beach already open in Miami, and an upcoming project in Tampa Bay, Florida, called Riverwalk Place. Jean-Louis Deniot, a leading French designer, is lending his hand to Elysee Miami, advising on apartment floor plans, flooring and kitchen finishes, as well as the club level and its piano lounge, dining room and private theater.

Besides the draw of a known name, Boren says, a designer “knows what looks right now” to make spaces feel like a home. “These common areas are really extensions of peoples’ homes,” Boren says. “When you have a party, you expand into the grand spaces, and making those spaces beautiful and livable, and making them something to be proud of to their guests, is of incredible importance.”

Besides, the cost of a top designer is spread around. “As much as we’re giving away the 30th floor and 7th floor (for the fitness facilities), if you tried to hire Thom Filicia, or Jean-Louis especially right now, to do your house, you’d spend many hundreds of thousands of dollars, before he bought the first stick of furniture. So these guys are an amenity unto themselves in some ways.”

Meanwhile, in a first for the Italian fashion house, Missoni is designing the interiors of Missoni Baia, which is scheduled to open in early 2021 and being built on Biscayne Bay, Florida. Another Italian firm, Minotti, is getting in on the act for the first time at 2000 Ocean, scheduled for completion in 2020 in Hallandale Beach, Florida.

Hotel Services

“The market is starting to differentiate itself also with what we call ‘branded residences,’” said Alexander Lewis, a residential development partner at Knight Frank in London, “whereby hotels are actually starting to run some of these schemes.” As an example, he pointed to Twenty Grosvenor Square, which opened in 2018 as the first standalone Four Seasons residential building, though  residents will be provided with an array of hotel-level amenities and services.

“The most famous one being delivered (in 2021) is the new Peninsula hotel (in Belgravia), which will have 28 residences alongside it, and will have full Peninsula staffing,” he says.

Aman resorts plans to add 20 residences, its first in an urban setting, to the top of  its new hotel in midtown Manhattan opening in 2020. Owners will have private amenities as well as access to all hotel services.

In South Florida, a unique amenity  will be offered to owners of condos in the three Four Seasons residences located along the coast. Not only do they have access to hotel amenities, but they can move among the developers’ properties in Palm Beach (re-opened late 2018), Fort Lauderdale (opening in 2020) and Miami (opened early 2018) as well as a private island in the Bahamas called Norman’s Cay. They will receive preferred rates on dining and hotel stays and special courtesies, such as a limousine to get them from one Four Seasons to the next or luxury accommodations on the new private Brightline express train that connects the three cities.

“You wouldn’t have to think about a thing,” said Louise Sunshine, strategic adviser for the upcoming Four Seasons Hotel & Private Residences in Fort Lauderdale. “If you liked tea at 3 o’clock, you would have tea at 3 o’clock. Once you check in from one place to another, because it’s owned by the same developers, all of your needs are communicated.”

The post Well-Being Facilities, Designs From Top Pros and Sky-High Perks: The Amenities of 2019 appeared first on Real Estate News & Insights | realtor.com®.



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U.S. pending home sales fall unexpectedly in November - Reuters

U.S. pending home sales fall unexpectedly in November  Reuters

WASHINGTON (Reuters) - Contracts to buy previously owned homes fell unexpectedly in November, the National Association of Realtors said on Friday, the ...

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Local real estate pros share their favorite sales of 2018 - Northforker

Local real estate pros share their favorite sales of 2018  Northforker

We asked nine local realtors to share with us their favorite sale of 2018. Here's what they had to say.



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Former NFL Star Aldon Smith Finally Sells San Jose Mansion at Discount

Aldon Smith Mansion

Getty Images/George Gojkovich; realtor.com

Former NFL linebacker Aldon Smith finally sold his mansion in San Jose at a discount, the Los Angeles Times reported. The home—which he had listed for as much as $3.5 million in June—wound up selling for $2,562,500 in early December.

The troubled player had a hard time finding a buyer for his Bay Area home. He originally picked up the 10-acre property in 2012 for $1,750,000, when he was wearing the red and gold of the San Francisco 49ers.

As we reported, the home first came on the market in 2015 for $3 million, after Smith had been released from the Niners. With no takers, he relisted the residence for $3,475,000 this summer.

The price hike didn’t lead to a sale, and the price was cut twice in October—first to $3 million and then $2.5 million. The last discount tempted a buyer, who snapped up the secluded mansion.

Aldon Smith’s ‘castle on a hill’

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Two-story foyer

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Eat-in kitchen and family room

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Living room

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Dining room

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Outdoor kitchen with South Bay views

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Pool and spa

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Built in 2007, the gated “castle on a hill,” as the listing agent Jacklyn O’Connor Friedland described it in June, is one of the largest estates in Alum Rock, and offers views of the South Bay. The 6,400-square-foot home features seven bedrooms, six bathrooms, an eat-in kitchen and adjoining family room, formal dining room, living room, home theater, and an office with a fireplace.

The spread also includes a three-car garage, large resort-style pool and spa, a kids’ play area, and multiple outdoor kitchens with outdoor fireplaces.

The close of the home comes soon after Smith accepted a plea deal in November to charges that initially stemmed from an alleged domestic dispute.

The 29-year-old played college ball with Missouri and was drafted by the 49ers in 2011. He played with the team until he was released in 2015, due to his legal issues. The Mississippi-born player signed with the Oakland Raiders in 2015, but was released in 2018 after troubles with the law resurfaced.

The post Former NFL Star Aldon Smith Finally Sells San Jose Mansion at Discount appeared first on Real Estate News & Insights | realtor.com®.



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Contemporary Style New Build In British Columbia, Canada

LOCATION: 1558 Tynebridge Lane, Whistler, British Columbia, Canada

SQUARE FOOTAGE: 4,750

BEDROOMS & BATHROOMS: 5 bedrooms & 7 bathrooms

PRICE: C$4,298,000

This newly built contemporary style home is located at 1558 Tynebridge Lane in Whistler, British Columbia, Canada.

It features approximately 4,750 square feet of living space with 5 bedrooms, 7 bathrooms, foyer with staircase & elevator, open concept living & dining rooms, 2 gourmet kitchens, garage and more.

Outdoor features include balconies and a hot tub.

It is listed at C$4,298,000.

CLICK HERE FOR THE LISTING



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