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☆ Buying a house of ‘Home Alone’ or John Lennon fame? There's a premium for that
▼ + stars: | 2024-06-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

However, that premium is hard to quantify since some uber-wealthy buyers will pay almost anything to own a piece of pop culture, according to real estate experts. "It's like owning a Picasso" or a Fabergé egg, said Tomer Fridman, a real estate agent based in Los Angeles who specializes in luxury and celebrity homes. An offer is pending on that home and was made within a week of being on the market, said Andrea Gillespie, a spokesperson for Coldwell Banker Real Estate. Infamy sells, tooInfamy can also fetch a higher price, said Arto Poladian, a Redfin luxury real estate agent in Los Angeles. Tomer Fridman luxury real estate agentSometimes, even being in the vicinity of a famous residence can help, he added.

Persons: Erin Hooley, Tomer Fridman, Fridman, Marilyn Monroe, Sylvester Stallone, Kylie Jenner, Travis Scott, Amanda Pendleton, Carlos Avila Gonzalez, Andrea Gillespie, John Lennon, Yoko Ono's, it's, —, Philip Norman, Bob Saget, John Stamos, Arto Poladian, Poladian, Charles Manson's, Leno, Rosemary LaBianca, There's, Pendleton, Brady Organizations: Chicago Tribune, Tribune, Service, Getty, San Francisco, Coldwell Banker, New York Times, Buyers Locations: Los Angeles, Chicago, loos, City , California

☆ The 'Home Alone' house found a buyer in under a week, but it's unrecognizable from the movie. See the $5 million home.
▼ + stars: | 2024-06-06 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +1 min

The house from the 1990 movie "Home Alone" has found a buyer in less than a week. The owners bought the five-bedroom home for $1.6 million in 2012 and listed it for $5.25 million. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Johnsons listed it for $5.25 million with Coldwell Banker Realty's Dawn McKenna Group. This story is available exclusively to Business Insider subscribers.

Persons: —, Trisha, Tim Johnson, Dawn McKenna Organizations: Service, Coldwell Banker, Business Locations: Chicago, Winnetka , Illinois

☆ Elon Musk, who famously vowed to 'own no house,' reportedly considered buying a tiny home that can cost around $400,000
▼ + stars: | 2024-06-05 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk, who famously vowed to "own no house" in 2020 and claimed in 2022 that he was effectively homeless and couch surfing at his friend's properties, reportedly discussed buying a tiny house from one of Tesla's board directors, per Reuters. This story is available exclusively to Business Insider subscribers. A Samara backyard one-bedroom prefabricated house starts at $284,000. Elon Musk, Tesla, and Samara did not immediately respond to a request for comment made outside normal working hours.

Persons: —, Elon Musk, Joe Gebbia, Gebbia, Samara, Grimes, Musk Organizations: Service, Reuters, Business, SpaceX Locations: Samara, Delaware, Austin, Airbnb, Mexico

☆ Golden Age for Rich Renters: Deals Make It Better Than Buying a Home
▼ + stars: | 2024-06-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +10 min

The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.

Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, — Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida

☆ 19 cities where the average mortgage payment is still under $1,200 a month — including taxes, utilities, and insurance — according to SmartAsset
▼ + stars: | 2024-06-04 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

But some markets are still very affordable relative to national median cost levels. A recent SmartAsset analysis reveals 19 cities with median monthly mortgage costs under $1,200. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business

☆ A Gen Zer moved from South Florida to Texas after a job offer. Here are her pros and cons after moving to Dallas and uprooting her life.
▼ + stars: | 2024-06-02 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

Read previewArielle Francois, 24, would tell her past self it's fine to be nervous about making the move from South Florida to Dallas. Francois moved to Florida from Haiti because of the earthquake in 2010. Beyond scrolling through social media posts and apartment sites, there are also rent and costs to think about. Additionally, Francois said she feels it's more affordable to live in Dallas than South Florida for someone her age. "Because South Florida is so close to Haiti, you'll find a huge population of Haitians in South Florida," she said.

Persons: —, Francois, hadn't, Arielle Francois Francois, Dallas, hasn't, Dallas I'm, you'll Organizations: Service, Business, Dallas, PMG, Facebook Locations: South Florida, Dallas, Miami, Florida, Haiti, Texas, PMG, Smart, Caribbean, Little Haiti

Mortgage rates are up slightly after initially trending a bit lower over the past few weeks. "Following several weeks of decline, mortgage rates changed course this week," Sam Khater, Freddie Mac's chief economist, said in a press release. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.36%, a 12-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, it's Organizations: Federal Reserve, Zillow Locations: Chevron

Mortgage rates have been holding relatively steady this month, though 30-year mortgage rates inched up slightly this week. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.36% this week, according to Freddie Mac data, which is a 12-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Lawrence Yun, Freddie Mac Organizations: National Association of Realtors, NAR, Zillow, Federal Reserve, Fed Locations: Chevron

If inflation continues to decelerate in the coming months, mortgage rates could fall further. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But because inflation has been somewhat sticky in recent months, mortgage rates have remained elevated so far this year. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

After finally dropping below 7% earlier this month, 30-year mortgage rates have been holding relatively steady in the mid-to-high 6% range, according to Zillow data. Once the Fed is able to start lowering rates, mortgage rates are expected to fall. Mortgage rates are expected to go down this year, but they might not drop as much as initially expected. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Federal, Consumer, Mortgage, Zillow, Association, Sky Locations: March's, Chevron

☆ Denmark Made Home Buying Easier. America Should Follow Its Lead.
▼ + stars: | 2024-05-29 | by ( James Rodriguez | ) www.businessinsider.com time to read: +13 min

When mortgage rates shoot up, as they did over the past two years, many would-be sellers decide they don't want to move after all. AdvertisementAs the Federal Reserve began pushing up borrowing rates in the spring of 2022, hoping to reel in rising inflation, mortgage rates went vertical. So far, this system of pooling together mortgage bonds and selling them to investors is pretty close to the American way of doing things. When US homeowners pay off their mortgages, they have only one option: pony up the amount left on the loan. That's not just good for buyers or sellers or mortgage loan officers — it's good for everyone.

Persons: It's, John Campbell, Danes, Freddie Mac, that's, Will Doerner, —, aren't, pesky, Campbell, Fannie Mae, Banks, Jesper Berg, there's, That's Organizations: Harvard, Federal Reserve, Federal Housing Finance Agency, Homeowners, Danish Financial Supervisory Authority Locations: America, …, Denmark, Zillow, Canada, Australia, Danish

☆ 'Home Alone' house in Chicago suburbs hits the market
▼ + stars: | 2024-05-28 | by ( Rebecca Cohen | ) www.cnbc.com time to read: +1 min

"Home Alone" house, located at 671 Lincoln Avenue in Winnetka, Illinois is seen on December 1, 2021. Airbnb is offering a one-night-only rental of the iconic "Home Alone" house in Winnetka, Illinois. The famed home in the Chicago suburbs where Kevin McCallister was once left behind from a family trip to Paris went on sale this week, according to a Zillow listing for 671 Lincoln Ave. in Winnetka. It's on sale for the first time since 2012, when the current owners bought it for $1.58 million, according to the Zillow page. The house was also "fully renovated and expanded" in 2018, according to Zillow.

Persons: Airbnb, Kevin McCallister Organizations: Lincoln, High School, NBC Chicago Locations: Winnetka , Illinois, Chicago, Paris, Winnetka, New Trier

☆ ‘Home Alone’ house hits the market for $5.25 million
▼ + stars: | 2024-05-28 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +3 min

CNN —Kevin McCallister’s childhood home has hit the market for $5.25 million. The home for sale is located in Winnetka, Illinois and “epitomizes” the classic architecture of the Chicago suburbs, the Dawn McKenna Group said in its online listing. Dawn McKenna GroupThe iconic home has ample space for family living and entertaining. Dawn McKenna GroupIn 2021, fans of the movie were given the opportunity to rent the house for one night only – and for just $25. In February, Freddie Mercury’s former West London residence went on sale for £30 million ($38 million).

Persons: Kevin McCallister’s, “ It’s, ”, Dawn McKenna, Macaulay Culkin, Kevin McCallister, epitomizes, McAllister, Freddie Mercury’s Organizations: CNN, Dawn, Dawn McKenna Group, Century Fox, Kraft Macaroni Locations: Paris, Winnetka , Illinois, Chicago, West London, Los Angeles

☆ A homeless Iowa mom of 2 is struggling to find a landlord who will accept her housing voucher before it expires. The state is making it harder by allowing landlords to discriminate against her.
▼ + stars: | 2024-05-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

That deadline — July 11 — is imposed by the state housing authority and applies to Quinn's Section 8 housing choice voucher, which she's had for about 12 years. Iowa lets landlords refuse voucher holdersQuinn says she's contacted close to 30 landlords since March. Many have simply told her they don't accept housing vouchers. In 2021, the state passed a law barring cities and counties from protecting voucher holders from overt discrimination by landlords. A crucial but flawed benefitThe federal Housing Choice Voucher Program is the biggest — and most effective — American housing assistance program.

Persons: —, Stephanie Quinn, Quinn, she's, Charcot, Marie, Quinn doesn't, she'll, I'm, they've, Farley, I've Organizations: Service, Business, Facebook, Craigslist, Nationwide Locations: Farley , Iowa, Iowa, Washington, DC, Dubuque

☆ The iconic 'Home Alone' house is back on the market. Take a look at the $5.25 million listing.
▼ + stars: | 2024-05-26 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

The owners of the red-brick Georgian Colonial home are asking for $5.25 million. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, fans can purchase the red-brick Georgian Colonial home for a pretty penny. The owners are asking for $5.25 million, per a Zillow listing of the house.

Persons: Macaulay Culkin, —, Kevin McCallister Organizations: Service, Street Journal, Realtors, Business Locations: Georgian

☆ 4 abandoned mansions for sale across the US — and why they're so unsellable
▼ + stars: | 2024-05-26 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +1 min

This seven-bedroom 'zombie mansion' near Portland, Oregon, is listed for $1.3 million. The "zombie" house near Portland, Oregon, is now covered in graffiti. In Tigard, Oregon, about 10 miles outside Portland sits a 9,052-square-foot, seven-bedroom house that's never been lived in. It's been abandoned since 2008, after the builder had complications with his building loan during the recession, the Oregonian reported in December 2023. "The bones are good, and when it's built out, it will be a $3 to $6 million property."

Persons: Eric Squires, It's, Eric Squire, Squire, it's Organizations: Oregonian Locations: Portland , Oregon, Tigard , Oregon, Portland

☆ For Millennials, Living Alone Is Status Symbol Milestone
▼ + stars: | 2024-05-25 | by ( Juliana Kaplan | Rosalie Chan | ) www.businessinsider.com time to read: +14 min

That's helping establish a new millennial milestone for some: Ditching roommates, moving out from the family home, and landing on living alone. Business Insider's analysis of American Community Survey microdata from IPUMS found that 10.5% of millennials lived alone in 2022. Per BI's analysis of American Community Survey data via IPUMS, 16% of millennials lived with at least one parent as of 2022. (The data doesn't specify if that means they're living with their parents or if their parents are living with them.) Subsidized solo livingSome lower-earning millennials are able to get assistance reaching the solo-living milestone — but it's not always easy.

Persons: Jess Munday's, Jess Munday's San Francisco, Munday, " Munday, I'm, it's, IPUMS, millennials, Bella DePaulo, they've, DePaulo, she'd, Jess Munday, Dara Feller, Aria Velasquez, they're, " Velasquez, Velasquez, Erica Charles, she's, Charles, Rick Fry, Fry, She'd, She's, Clibborn, Sydney Krantz, He's, —, homeownership Chaz Zimmer, Chaz Zimmer, Adrianna Newell, Tomasz Piskorski, Piskorski, Zimmer hasn't, Zimmer, he's, James Paniagua, Paniagua, snagging, Julia Mazur, Kathy Pierre, Pierre Organizations: Business, American, Survey, Pew, BI Garak, BI, Subaru, Columbia Business School Locations: Jess Munday's San, Francisco's, San Francisco, Chicago, Washington ,, IPUMS, Florida, California, Waverly , New York, homeownership, Oakland , California, Los Angeles, Oakland, London, Austin, Charlotte , North Carolina, Charlotte

☆ How I negotiated to lower my monthly rent in a tight housing market
▼ + stars: | 2024-05-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Conventional wisdom says you're more likely to be able to negotiate lower rent if there are plenty of local vacancies or when your rental is going for an above-market rate. As rental unit owners ourselves, we know how challenging it an be to find reliable tenants who will care for your property the way you would yourself. We'd like to continue being those renants for you, and respectfully request that you consider a renewable 6-month lease term at the current rate of $3,550 per month, or a 1-year lease term at a rate of $3,450. AdvertisementBe creative with your asks — and flexible with your expectationsPart of our initial ask included a variation on the lease term (6 months instead of a year), showing our landlords we were open to options other than a standard 1-year lease.

Persons: Zillow, it'd, we'll, We've Organizations: Service Locations: Santa Barbara , California, Airbnb

☆ Denver's business boom has created labor and housing shortages
▼ + stars: | 2024-05-22 | by ( Ryan Baker | ) www.cnbc.com time to read: +1 min

The city of Denver, Colorado, has undergone notable growth as skilled professionals and businesses move into the state that prides itself on 300 days of sunshine. And I don't think any place checks as many boxes as Denver does," said the city's mayor, Mike Johnston. Now, the city is facing both housing and labor shortages. Denver needs more workers to come in and fill job openings, yet it's already short 70,000 homes. That's about 15% of the price of an average home in Denver, according to real estate site Zillow.

Persons: Mike Johnston, Scott Wasserman Organizations: U.S . Census, Bell Policy Institute Locations: Denver , Colorado, Denver, U.S, Colorado

So far in May, 30-year mortgage rates have averaged around 6.75%, which is 10 basis points lower than the previous month's average. If the next few months continue to show that inflation is decelerating, mortgage rates could go down further this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Go Down (-0.09%)The average 15-year mortgage rate is 6.00%, nine basis points lower than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: they'll, you'll, It's, refinance Organizations: Zillow, FHA Locations: Chevron

☆ One-third of single-family homes for sale are newly built, report finds. Here's what buyers need to know
▼ + stars: | 2024-05-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed. Over the last six months, the median price for a new home is only about 4% higher than the median price of an existing house. Reducing the square footage of your home can help reduce construction costs as well as utility and maintenance costs down the line. Keep construction costs down: Major factors like lumber and labor costs significantly impact the cost of a new house. And depending on the kinds of materials you add to the house, builders are "adding up the tab," Veronica Fuentes, a wealth management advisor based in Washington, D.C., previously told CNBC.

Persons: Alistair Berg, Digitalvision, Nicole Bachaud, Dietz, Matthew Walsh, Walsh, homebuilders, Veronica Fuentes Organizations: Getty, Zillow Group, CNBC, U.S . Census, U.S . Department of Housing, Urban, Moody's, Washington , D.C Locations: U.S, Washington ,

Mortgage rates dropped last week following the release of April's Consumer Price Index data, which showed that inflation slowed last month. Mortgage rates are expected to go down as inflation decelerates toward the Fed's 2% target level. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: Freddie Mac Organizations: April's, Federal Reserve, Mortgage, Zillow, Fed Locations: Chevron

Mortgage interest rates have moved lower amid signs that persistently high inflation may be starting to cool. The 10-year Treasury yield fell following the release of this data, and mortgage rates followed suit. Once inflation slows enough that the Federal Reserve is able to start lowering the federal funds rate, mortgage rates and other consumer rates should trend down. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: of Labor Statistics, Treasury, Federal Reserve, Investors, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Home prices in these 22 cities are set to surge the most in the US in the next 12 months, according to Zillow
▼ + stars: | 2024-05-16 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

US home prices are set to rise by 1.6% over the next 12 months, Zillow forecasts. Factors include population growth, mortgage rates, and cost of construction supplies, and more. AdvertisementHome prices in the US are set to rise by 1.6% on average over the next 12 months, according to Zillow forecasts. In a recent analysis, financial information site SmartAsset compiled Zillow's price growth forecasts for 192 US metropolitan areas over the next year. Below, we've listed 22 cities where Zillow expects to see the largest price growth through the end of March 2025.

Persons: — Organizations: Service, Business

This means mortgage rates could start to go down more substantially as we approach the fall. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Nearly Flat (+0.02%)The average 15-year mortgage rate is 6.05%, just 2 basis points higher than last week. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: That's, you'll, It's, refinance Organizations: Federal, Federal Reserve, Zillow, FHA Locations: Chevron

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