Worlds hottest real estate markets 2014 – It’s never easy to be sure where it’s a good bet to buy real estate and that’s even in areas you know very well. However we live in a global world where property can be purchased all over the world and travel is relatively easy. They can become home bases, places to rent out long term or as holiday rentals or just investment properties left to sit while the markets recover.
Of course just finding a cheap home is easy but it’s value could drop if the economy in that area tanks anymore, long term it could become a real dud! Investing in property always comes with risk but that can be lessened so much by doing your research!
So what are the hottest markets in the world, it’s not always about rock bottom prices but about how it is to live with these properties and what a country has to offer. Experts put claim to the best markets being in a number of places from Bristol in the UK, London, certain American States and many places in Europe such as Spain and Greece where things have not exactly been rosy in recent years!
I think a hotspot can be found in most countries but I am no expert. Property here in Budapest feels extremely cheap but you need to know about local laws, taxes and all the costs that come with ownership before making an informed decision (but Budapest has huge potential if the country comes out of it’s troubles).
I’m not expert though but those talked to over at FT.com are and I recommend you mull over this little article anout Property Picks for 2014 a little: http://on.ft.com/1n6gRMg
Where are you looking to buy? At home or abroad?
Luxury condo shortage NYC – There are reports going around that there is a luxury condo shortage in NYC due to a few factors such as the world’s rich buying up the properties and more and more demand in general. Of course this could be industry hype to bring in more investment but also in reality it doesn’t bear well for the little guy!
This could mean more developers opening their web, throwing a wider net and starting the search for the next new neigborhood to gentrify and make unbearably unaffordable for normal folks to move to and current residents to live in. With properties in further lived in neigborhoods getting purchased for investments only it could also see a real loss of community, something that would be sorely missed in some of NYC’s lieliest and most diverse areas.
People being pushed out could mean more travel into the city for work, more crowds on rush hour transport, more traffic and ultimately a host of other issues.
While it’s good for investment to come into the city the negative effects need to be weighed up too!
What do you think?
Priciest properties of 2013 – While a lot of big ticket homes sold for less than they may have a few years ago there is still no shortage of huge huge big money properties changing hands in the last 12 months.
Let’s take a look at some of them sourced from an MSN article on the subject (src).
Casa Casuarina, Miami Beach, Fla.
Once listed for $125 million, the Miami Beach mansion formerly owned by the late Gianni Versace sold for $41.5 million in mid-September.
Castello Del Sol, Miami
Castello Del Sol, a waterfront Mediterranean-style estate on prestigious La Gorce Island in Miami, sold for $30 million in June 2013.
Further Lane, East Hampton, N.Y.
Billionaire and SAC Capital Advisors founder Steve Cohen gobbled up 2013′s second-most expensive property this May, paying $62.5 million for the estate on Further Lane in East Hampton.
Abingdon ‘Maisonette’, West Village, New York City
Billionaire and SAC Capital Advisors founder Steve Cohen added the $23.4 million Abingdon ‘Maisonette’, a 9,600-square-foot triplex apartment in New York City’s West Village, to his collection in June 2013.
Howard Marks, Malibu, Calif.
Money manager Howard Marks’ Malibu estate on the Pacific Coast Highway sold in January 2013, for the record-breaking price of $75 million to an anonymous Russian buyer.
A-Rod estate, Miami Beach, Fla.
In May 2013 Alex Rodriguez sold his trophy home, a Miami Beach estate he’d customized with Zen gardens, a batting cage, and a steam room, among other amenities. The house reportedly sold for $30 million.
Mountain Home Road, Woodside, Calif.
January 2013 kicked off with the news of a record-breaker: the $117.5 million sales price for a nine-acre Woodside, Calif., estate purchased by billionaire and Softbank chief Masayoshi Son.
Most of us just can’t fathom paying that much for a place to lay our hats! The homes really must be special.
Best time of year to buy a house - There is always a lot of chatter about when the best property deals can be found and often this always points to one season, that season is winter!
Sales are slower in winter so the logic is that people get more desperate to sell so you can haggle yourself a better bargain.
However I don’t think it’s always that clear….
Less homes are on the market in winter and most people traditionally prepare their homes for spring sale if they have the luxury of waiting. Many of course sell as part of a chain so people are still keen to sell to the right buyer and they may have taken more time to prepare the home, repair issues and make it more marketable during a time when more homes are competing!
So you may not necessarily push a poor desperate selling to rock bottom but you may find a better home for you at a price you are willing to pay!
What do you think?
Sheryl Crow ranch price drop – A large price drop from it’s original price Sheryl Crow’s Tennessee ranch may well now be a little more within reach! Well, maybe that’s not quite true, the large property is still on the market or $3.85 million! Originally on the market at $7.5 million the drop seems huge but it’s also been cut into two pieces as the original size was just a little too large to sell!
Hopefully the drop will attract more viewers at least, Sheryl has been trying to sell the ranch for coming close to 4 years now!
Good luck to her. More details can be read on Zillow http://bit.ly/1aekDLr.
Tour Sunset magazine’s 2013 Idea House – Each year lifestyle brand Sunset produce an idea house. This year, 2013, not only are they producing a house, they are producing two and naming a whole town as an idea town!
Tour Sunset magazine’s 2013 Idea House
They have selected Seabrook, Washington as the location for the 2013 idea houses and town and have constructed two houses that showcase innovative architecture, ideas, sustainable practises and what it envisions as the future of housing.
The group have been making these idea homes since 1998 to showcase innovations on the field. Of course these homes are the best of the best and can be quite stunning so for people interested in such things a peak inside would be fantastic.
From their press release they say of Seabrook “Seabrook’s cottages and homes, all of which are within a five-minute walk of basic needs, are situated along streets, alleys, parks, plazas, and a retail district that are artfully designed to frame outdoor rooms where neighbors and guests gather.”
“Seabrook is a charming seaside town built on big ideas that promote a true sense of community,” said Sunset Editor-in-Chief Kitty Morgan. “Seabrook’s ability to integrate these development principles seamlessly within a stunning natural environment is what made it the ideal candidate for the 2013 Idea Houses and the Idea Town recognition.”
You can tour the homes the rest of this month through to October 27th Friday through to Sunday between 10am and 5p,. It costs $18 (not cheap to look round a house!) but a portion of that is donated to the Seabrook Community Foundation. There are also tours of the town itself.
You can take a sneak peak in the video below. It looks stunning!
- Tour Sunset magazine’s 2013 Idea House
U.S. housing recovery pricing out first-time buyers – The housing recovery has been toodling along just nicely with home prices rising and movement getting steadier, median home prices have said to have rising around 13.5% in the last year! That is a steady recovery! Things are great, right? Well not necessarily if you are a first-time buyer.
There are serious problems with rising home prices. The average cost of a home for many now is many many years of salary. That’s one of the reason so many young people borrowed way more than they could afford before the last crash. They saw it as an only hope to get onto the ladder. Of course in some ways this cycle may be happening again but with stronger regulations on lending it may be a simple case that young, lower salaried workers simply can’t get into the market. They are being completely priced out!
Here is what a blog on UPI has to say on the whole thing:
NAR released a home sales report indicating people in their late 20s and early 30s accounted for only 30 percent of buyers in the past year, The Wall Street Journal reported Tuesday.
In 2009, first-time buyers accounted for more than 50 percent of sales when recession-era tax credits fueled the real estate market. In the past 30 years, they’ve averaged 40 percent of sales.
“First-time buyers are important to get the housing market to move to a new plateau,” said Steven Ricchiuto, the chief economist for Mizuho Securities USA Inc. “Without them, you just get stuck at a marginal recovery environment.”
Overall, sales of existing homes fell 1.2 percent in June to a seasonally adjusted annual rate of 5.08 million, down from 5.14 million in May but up 15.2 percent from June 2012.
Do you see any hope for first-time buyers getting back in this market? Will government help be required, will there be another crash? We look forward to your input.
Thanks for reading - U.S. housing recovery pricing out first-time buyers
Richard Gere Asking $65 Million For Hamptons Estate – Somewhere tucked away in a Hampton’s enclave there is an estate of fairly epic proportions belonging to veteran actor Richard Gere. Now, that home and land won’t be his for much longer if the right buyer comes along, maybe that buyer is you but at $65 million asking price something tells me it probably isn’t going to be! It certainly won’t be me!
The 12 bedroom and 12 bathroom 12,000 square foot estate in North Haven is a sight to behold. A pool, lakeside view, outdoor living space to die for a professionally kitted out mega kitchen are just a few of the features and they go on and on and on. This complex, estate, home, whatever you want to call it is about as good as it gets hence the $65 million asking price.
Want to see a picture? Well here you go, thanks to RadarOnline:
Richard Gere Asking $65 Million For Hamptons Estate=
Image source and more images: RadarOnline.
Maybe you are more in line for Vin Diesel’s Hollywood Starter home? It’s much more affordable!
Thanks for reading - Richard Gere Asking $65 Million For Hamptons Estate
Vin Diesel Asking $1.3 Million For Hollywood Hills Starter Home – Win Diesel may be turning quite a profit with his Hollywood starting homing coming onto the market for $1.3 million, more than twice the price he paid back in 2000.
When the star had his first slew of high profile work in movies like Saving Private Ryan he splashed out on a modest, in Hollywood terms, starter home. The home on a quiet street has all the typical trademarks of a home in the area with outdoor living space and a fair amount of privacy.
He purchased the home, which is a 3 bed, 3 bath affair, back in 2000 for a relatively small sum of $562,500.
A gazillion Fast & Furious movies later, a few flops but still a steady career maybe it’s time for the star to move away from his Hollywood starter beginnings and do super delux.
So the home is on the market for those with a spare $1 million and some extra change!
Here is a little more about the home from Trulia’s blog:
13 years later, Diesel wants $1,300,000 for the walled and gated hideout that the listing calls “a perfect hideout for a celebrity or those who seek privacy and serenity.” In true Los Angeles style, the home has outdoor spaces that create the perfect balance of indoor/outdoor living. An open floor plan is punctuated by a living room with fireplace and high-beamed ceiling with skylights. The master bedroom has an en-suite bathroom featuring sunken tub and steam shower. Outside, a large backyard has a pool and spa.
Read more here.
Jackie Chan’s Former Beverly Hills Home for Sale – If you want to tread the same boards once trodden by action hero Jackie Chan then now is your chance to purchase his former estate which has come back on the market for the first time since he sold it in 2005.
I’m sure sipping a wine in the bar, swimming in the pool or falling down the stairs will take on an entirely new feeling knowing that the man himself may have done the same things in the same place. This privileged will of course only cost around $9.5 million!
Zillow Blog gives a description of the Beverley Hills home:
Built in 1986, the 7,638-square-foot, 5-bedroom, 6-bathroom home was owned by Chan for several years until he sold it for $6.3 million in 2005, according to property records. The estate has all the amenities expected in a Beverly Hills mansion including 2 automatic gates, a fountain centering a circular driveway, a grand double-door entry, a high foyer featuring an enamel inlaid chandelier and a professional wet bar with a wine cellar.
The detailed designs displayed throughout the home are spectacular, from the intricate golden staircase to the stained-glass windows in the master bathroom. The nearly $10 million price tag also includes most of the furniture, except personal collections and accessories.
The piano is not included, but no need to fret: The sound system in the spacious family room is there to guide the new owners on whatever musical journey their hearts desire. Entertainment is made easy with a gourmet kitchen and an exterior pool/spa/barbecue area.
Sounds like a nice place but where is the gym in the listings? Surely there has to be one!
Not into having Chan’s former home for that price, then check out Hilary Swank’s $9.45 million offering!
- JACKIE CHAN’S FORMER BEVERLY HILLS HOME FOR SALE