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☆ PGA star Justin Thomas is selling his 'starter' mansion and it's the ultimate bachelor pad
▼ + stars: | 2023-05-19 | by ( Cork Gaines | ) www.businessinsider.com time to read: +1 min

Justin Thomas and Tiger Woods are so close that Tiger considers JT part of his family. Thomas is selling his 'starter' house in Jupiter, Florida, the home of many top golfers, including Tiger. The $3.5 million house has everything a wealthy young bachelor would want in a house. The property, dubbed Thomas' "starter house" by Golf Digest, is on the market for $3.5 million just months after he got married, and is being listed by former golfer Johnny DelPrete of Douglas Elliman Realty. So it's no surprise that the house for sale is just three miles from Tiger's home on Jupiter Island.

☆ This $18 million Invisible House is the most expensive listing in Joshua Tree — and it's already a money-maker
▼ + stars: | 2023-05-18 | by ( Ray Parisi | ) www.cnbc.com time to read: +7 min

Brian AshbyThe modern glass architecture is situated on 67.5 acres just steps away from the Joshua Tree National Park. Brian AshbyThe home was designed by film producer and current owner, Chris Hanley, and Frank Gehry-collaborator, architect Tomas Osinski. According to co-listing agent Matt Adamo, the highest price ever achieved for a home in Joshua Tree was $3.5 million. The Invisible House in Joshua Tree, California is a mirrored 22-story horizontal skyscraper. The rooftop of the Invisible House is equipped with an array of solar panels that supply the home with electricity, heat and hot water.

☆ Manhattan rents reach (another) record high
▼ + stars: | 2023-05-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —While rents are cooling in some parts of the United States, the cost to rent a Manhattan apartment hit a record high for the second month in a row. That’s up 8% from a year ago and up 1.6% from March, when rents hit a record high of $4,175. A one-bedroom apartment had a median rent of $4,200, up 5% from last year; while a two-bedroom apartment had a median rent of $5,500, up 11% from a year ago. The Manhattan rental market is continuing to trend slightly better than sideways, said Jonathan Miller, president and CEO of Miller Samuel. Not only are median rental prices going up, but the amount of concessions — or incentives offered by landlords — are dropping.

☆ Hamptons rental prices fall for the summer as owners contend with oversupply
▼ + stars: | 2023-05-15 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

An oversupply of summer rentals in the Hamptons is spurring price cuts of 20% or more, as affluent Wall Streeters and tech workers cut back on their summer spending. Wall Street bonuses fell 26% last and several of the large Wall Street firms and banks, including Morgan Stanley, Citigroup, Bank of America and Lazard, have announced job cuts. "The Hamptons is tied to Wall Street with an umbilical cord," Desiderio said. "When Wall Street is doing well, we do well. The one bright spot in the rental market, at least for owners, is at the very high end, especially oceanfront.

☆ The trendiest thing that adds value to your home – and livens up your summer BBQ: a pizza oven
▼ + stars: | 2023-05-06 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Pizza ovens tend to add more value to a home than they cost, with pricier models reaching $11,000. According to the report , having a pizza oven in your listing description can score you extra dough at selling time. Courtesy of the WatanabesThe desire for pizza, and pizza ovens at home, is only growing. Why pizza oven popularity is panning outKristi Jenkins, a Seattle-area broker for The Agency, showed her clients a $3.4 million home in Fall City, Washington — a 30-minute drive east of Seattle — with a large outdoor living space equipped with a Forno Bravo pizza oven. Douglas Elliman RealtyBianculli's pizza oven is a part of his kitchen and is connected to one of six fireplaces in the house.

☆ When Barbara Corcoran sold her company for $66 million, she didn't know how much it was worth—here's how she negotiated anyway
▼ + stars: | 2023-05-02 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Nearly three decades later, she flipped it to brokerage firm NRT for $66 million. The large dollar figure wasn't the result of industry research or market valuation, Corcoran said: Rather, it was her "lucky number." Corcoran wanted to sell her company because she'd achieved her goal: The Corcoran Group was the largest brokerage in New York, she said. It's unclear whether Corcoran could have gotten more for her company, given its then-status as New York's top brokerage. The Corcoran Group's primary competitor at the time, Douglas Elliman, sold for $75 million four years prior, The New York Times noted.

☆ The average price for a house in the Hamptons just hit a record $3 million
▼ + stars: | 2023-04-27 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

The average price for a house in the Hamptons hit a record $3 million in the first quarter, highlighting a shortage of trophy beach homes for sale and the resilience of wealthy buyers. The average sales price in the New York beach community jumped 18% in the first quarter to $3.1 million, according to a report from Douglas Elliman and Miller Samuel. The average price in the Hamptons is now more than $1 million higher than the average sales price in Manhattan. The high end of the Hamptons market is the strongest. In the luxury market — representing the top 10% of sales — both the median and average sales price broke records during the first quarter, with the average luxury price surging 33% to $16.1 million, according to Jonathan Miller, CEO of Miller Samuel.

☆ No one's buying Ivana Trump's townhouse — an extravagant unit filled with leopard print and pink marble — almost 9 months after her accidental death in the apartment
▼ + stars: | 2023-04-26 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Notably, the price of Ivana Trump's former abode has not budged since being listed in November 2022. The home was listed with Douglas Elliman and features extravagant rooms tied to Ivana Trump's personality, as well as a haunting doll modeled after Ivana Trump. After Ivana Trump's highly-publicized and financially contentious divorce from Donald Trump, Ivana Trump was awarded a settlement worth $25 million and purchased the home for $2.5 million. Ivana and Donald Trump's three children, Donald Trump Jr, Eric Trump, and Ivanka Trump, spent their teenage years in the apartment. Correction: April 25, 2023 — An earlier version of this story misstated the months since Ivana Trump's passing.

☆ A 23-year realtor shares the key tip that has allowed him to negotiate home prices down by up to $129,000 in the current market, and additional tips to save on interest rates
▼ + stars: | 2023-04-20 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Ryan Rogers says home buyers can take advantage of the current real estate market. Rogers recommends looking for properties that have been on the market for more than 30 days. The 30-year fixed rate averaged about 6.62% on Wednesday, down from peaks of above 7% during the last quarter of 2022. But nothing could be farther from the truth, according to Ryan Rogers, a 23-year residential real estate agent with Douglas Elliman in Austin, Texas. Since the start of the year, he has noticed an increase of properties that have been sitting on the market for 30 to 60 days.

☆ The American consumer has bad news for the economy
▼ + stars: | 2023-04-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

That’s why Wall Street is already fretting over Friday’s retail sales report, which is expected to show that the mighty American consumer is pulling back. Economists forecast that retail sales fell 0.4% in March from the month before. But Goldman Sachs and Bank of America analysts say core sales — that’s without autos, gasoline, and building materials — slowed by about 1%. A taxing problem: Still, the health of the American consumer is still relatively strong, the BofA analysts said. A one-bedroom apartment had a median rent of $4,150, up 9.6% from last year, while a two-bedroom apartment had a median rent of $5,680, up 18.3% from a year ago.

☆ Manhattan median rents hit another high in March
▼ + stars: | 2023-04-13 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

A one bedroom apartment had a median rent of $4,150, up 9.6% from last year, while a two bedroom apartment had a median rent of $5,680, up 18.3% from a year ago. A studio apartment rents for a median price of $3,190, up 16% from last year. “It isn’t a rocket ship,” he said of median rents. “It is just creeping higher and every so often it creeps high enough to reach a new high.”The opposite of rising rents is not necessarily falling rents, it is stabilizing rents, Miller said. New leases in March were up 15.4% from last year, according to the report, and leasing activity jumped 20.5% from February.

☆ ‘I Went Through the Doggy Door.’ When Real-Estate Pros Get Locked Out of Listings.
▼ + stars: | 2023-04-07 | by ( Robyn A. Friedman | ) www.wsj.com time to read: +1 min

I didn’t have a key, and the woman wasn’t responding to my phone calls so I frantically called the man. He gave me the garage code, which I tried several times with no luck. I called my client again to let him know the garage code didn’t work. He then said, “Why don’t you go through the doggy door in the back? I was wearing a dress and heels, so I took off my shoes, got down on my knees and went through the doggy door.

☆ Manhattan real estate sales plunge 38%, but cash deals hit all-time record
▼ + stars: | 2023-04-04 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Manhattan real estate sales fell 38% in the first quarter, as buyers and sellers battled over prices and mortgage rates remained volatile, according to new reports. The average sales price fell 5% to $1.95 million and the median sales price fell 10% to $1.075 million, according to the report. The average discount from the initial list price to sales price in the first quarter price was 7%, up from 5% in the fourth quarter, according to Serhant. Overall, cash deals rose to a record 57% of all sales in the quarter, Miller said. "It's not by any stretch a seller's market, but it's getting busier each month."

☆ ‘I Went Through the Doggy Door.’ When Real-Estate Pros Get Locked Out of Listings
▼ + stars: | 2023-04-01 | by ( Robyn A. Friedman | ) www.wsj.com time to read: +1 min

Tarpon Isle, a private island in Palm Beach, Florida, is on sale for $218 million. Tarpon Isle, a private island in Palm Beach, Florida, is on sale for $218 million. A waterfront bathroom inside the main home on Tarpon Isle, a private island in Palm Beach, Florida, on sale for $218 million. A dock servicing Tarpon Isle, a private island in Palm Beach, Florida, on sale for $218 million. A living space inside the main home on Tarpon Isle, a private island in Palm Beach, Florida, on sale for $218 million.

☆ A Gilded Age Massachusetts Mansion Overlooking the Ocean Sells for $18.275 Million
▼ + stars: | 2023-03-17 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A Gilded Age waterfront mansion on the North Shore of Massachusetts has sold for $18.275 million, one of the highest recorded residential sales for the area, according to listing agent George Sarkis of Douglas Elliman .

☆ This luxury trailer in the Hamptons broke records in a $3.75 million sale
▼ + stars: | 2023-03-17 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

A luxury trailer in the Montauk Shores community sold for a record-breaking $3.75 million, which is $5,000 per square foot. In 2022, there weren't any properties for sale in the Montauk Shores community of the Hamptons, New York, but that didn't stop one mystery buyer from making a record-breaking purchase. The trailer is located in Montauk Shores, an oceanfront community in the Hamptons. Since the trailer is in the Montauk Shores residential community, the sale includes access to swimming pools, a recreational center, a playground, and a basketball court. This unit is 150 square feet smaller than the one that sold for $3.75 million.

☆ A look inside a $22.5 million Miami condo with insane luxury amenities
▼ + stars: | 2023-03-09 | by ( Ray Parisi | ) www.cnbc.com time to read: +12 min

Turnberry Ocean Club ResidencesInside the Sky Club's fitness center where the treadmills come with impressive views. Turnberry Ocean Club ResidencesOutdoor sunset lounge Turnberry Ocean Club ResidencesAlso up on 32nd floor is a so-called dog retreat where lucky pooches can take in the ocean views and relieve themselves. Turnberry Ocean Club Residences / Leo DiazThe kitchen includes three islands and comes equipped with custom Italian-made cabinetry and high-end German appliances. A rendering of one of the Turnberry Ocean Club Residences' beach front cabanas. Turnberry Ocean Club Residences

☆ Inside a $22.5 million condo with over 70,000 sq ft of over-the-top amenities
▼ + stars: | 2023-03-09 | by ( Ray Parisi | ) www.cnbc.com time to read: 1 min

This $22.5 million condo in Miami spans 6,200 sq ft with four bedrooms, five and a half baths, but perhaps more impressive than what comes inside those four walls is the mind-blowing list of over-the-top amenities that comes with it. The luxury condo is situated on the 48th floor of the Turnberry Ocean Club Residences in Sunny Isles Beach where the list of amenities span over 70,000 sq ft from sunrise and sunset swimming pools to a $1.2 million beachfront cabana. CNBC's Ray Parisi and real estate broker Senada Adzem of Douglas Elliman take you inside for an exclusive tour.

☆ Stocks week ahead: It's hell week on Wall Street
▼ + stars: | 2023-03-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The unflinching resilience of the US labor market is one of — if not the — greatest source of tension in today’s economy. That means the Fed’s already painful rate hikes are likely to continue until the job market simmers. In just one year, the Federal Reserve has raised interest rates from nearly zero to a range of 4.5% to 4.75% to cool the economy. The labor market is stronger than ever: The US added a shocking 517,000 jobs in January and knocked unemployment down to its lowest level since 1969. If the labor market remains strong, more Fed-induced pain lies ahead.

☆ How Hot Is Aspen’s Market? Townhouse Fetches More Than Twice What It Sold for in 2021
▼ + stars: | 2023-03-04 | by ( Sarah Paynter | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. An Aspen, Colo., townhouse has sold for $22 million, more than double its last sale price in 2021, according to seller’s agent Riley Warwick of Douglas Elliman .

☆ Lil Wayne Sells Contemporary Miami Beach Home for $22.583 Million
▼ + stars: | 2023-03-01 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. The rapper Lil Wayne has sold his waterfront home in Miami Beach, Fla., for $22.583 million, according to listing agent Cyril Matz of Douglas Elliman .

☆ A mystery buyer wanted an 800-square-foot trailer in the Hamptons so badly that they offered a staggering $3.75 million for it
▼ + stars: | 2023-02-23 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

A property in the Hamptons' famed Montauk Shores trailer park is poised to sell for $3.75 million. The current most expensive trailer in Montauk Shores sold for $1.85 million in 2022. Montauk Shores counts hedge-fund manager Dan Loeb and Vitamin Water cofounder Darius Bikoff as residents. If the $3.75 million deal goes through, it would beat the park's sales record by nearly $2 million — surpassing the record set by a $1.85 million sale in 2022. Gold currently reps another property in Montauk Shores, a neighboring trailer pictured here that's on the market for $2 million.

☆ Seeking a Studio in Downtown Brooklyn for Less Than $400,000: She Was Surprised by the Options
▼ + stars: | 2023-02-23 | by ( Debra Kamin | ) www.nytimes.com time to read: +2 min

The first time Jenn Leyva moved to New York, it was to start college at Columbia University. She took Zoom calls in a corner of the communal living room and made sure to always wash her dishes. Email: thehunt@nytimes.com]She was pleasantly surprised by the options she found online: a handful of studios for less than $400,000, just south of the Brooklyn Bridge, in the corner of the borough where leafy Brooklyn Heights meets Dumbo and Downtown Brooklyn. “Studios were cheap, because everyone was still working from home and wanted a one-bedroom with a separate sleeping space and work space,” Ms. Leyva said. “But my work space is in Manhattan.”She teamed up with Leora Blumberg Rubinstein, a realtor with Douglas Elliman, who approved of her strategy.

☆ 15 million renters pay more for housing than they can afford. Here's how to figure out if you're one of them
▼ + stars: | 2023-02-19 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Yet, when it comes to the long-held advice for renters to not spend more than 30% of their income on housing, the target is increasingly impossible to even try to reach, experts say. More often, Hummel said, tenants spend 40% of their income, or more, on housing. There are major consequences to taking on a rent that eats up too much of your income, Hummel said. "Spending more on rent means less money for savings, retirement, family goals and less to pay for other debt obligations," he said. Housing is the single biggest financial area where people get trapped, according to personal finance blogger and author Ramit Sethi.

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