Getty ImagesThe longtime mantra of the real estate market, “location, location, location,” may never have been so true.During the COVID-19 pandemic, a national frenzy seemed to permeate the housing market as buyers spent previously unimaginable sums on homes just about everywhere. The real estate market was fairly monolithic as the number of available homes dried up and prices shot up around the country.However, what’s happening in the national housing market might no longer resemble what’s going on in local markets across the country. As mortgage interest rates have risen, some markets have slowed while others continue to speed up. Home prices may be falling in one city but accelerating in another. Bidding wars may be fierce in one neighborhood, while homes are struggling to find buyers in the next one over. The real estate market is once again all about location.“In the [early] pandemic, it didn’t really matter where you were. The housing market was thriving and growing,” says Ali Wolf, chief economist of the building consultancy Zonda. “Since interest rates have risen and inflation is higher and economic uncertainty abounds, we’re reverting back to very localized housing markets. It depends on where you are to know if the market is doing well or the market is slowing.“There is no national housing market,” she continues. “Every single city and every single street across the country has its own unique housing market.”There is one big caveat, however. The housing shortage has complicated the market in that buyers are still willing to pay a premium for charming, move-in ready homes in walkable communities with good schools that are near big cities. That is the same whether a home is located in Austin, TX, where prices have fallen, or Miami, where prices are still increasing year over year.There simply aren’t that many well-located, turnkey homes for sale, so when one of these properties becomes available, the competition is fierce.“Regardless of where you are, a great home is still a great home and it will still sell,” says Wolf.Regional housing markets where prices are rising and fallingHowever localized housing has become, there are still significant regional trends. And the housing correction is hitting certain parts of the country much harder than others.Case in point: Real estate markets in the Northeast, Midwest, and the Southeast, in particular Florida, are holding up the best, especially in smaller cities where prices are lower.“The Midwest is still full of affordable markets,” says Selma Hepp, chief economist of the real estate data firm CoreLogic. “It’s much more steady than these coastal markets where you have large swings in home prices.”The housing markets are weaker in the more expensive parts of the country, such as the West. Home sales in states like California, Idaho, Nevada, and Washington have been affected more by the rise in mortgage rates. The higher rates plus high prices are causing buyers to hit their financial limits. As something has to give, prices in some markets are leveling off or falling.“Mortgage rates made a huge difference: People lost 30% in purchase power,” says Hepp.Plus, many of the areas that experienced the largest price increases during the pandemic, like Austin, TX, and Phoenix, have been cooling off.“We should expect some price corrections, not price crashes, in these places where prices ran up the fastest,” says Lisa Sturtevant, chief economist of Bright MLS. The multiple-listing service covers the mid-Atlantic region.The cities vs. the suburbsEven within a thriving metropolitan area, the strength of the local real estate market may depend on precisely where buyers are looking—all the way down to an individual neighborhood or even block.For instance, home prices have dipped in the downtowns of some big cities, like Philadelphia and Baltimore, the part of the cities where prices are often the highest, says Sturtevant. But bidding wars continue just outside the city limits in many close-in suburbs.Buyers who are priced out of urban downtowns might turn toward smaller cities or close-in suburbs that boast short commutes, bustling Main Streets, and good schools. Since there is typically limited land available in these towns on which to build new homes, competition among buyers remains fierce. That’s led to rising prices, even while just a few miles away in bigger cities, prices may have fallen a bit.Then there are the exurbs, the outer-edge suburbs that are the farthest from the bigger cities. Their future is a bit more uncertain.Buyers looking for larger homes on more property can often find the cheapest real estate in these areas. As buyers are feeling the financial squeeze, that’s likely to keep demand—and therefore prices—strong in these areas.However, these were also the areas that were popular with investors during the pandemic. Many investors aren’t buying as much real estate these days.Even within the same town, certain neighborhoods are likely to be more desirable than others. Some offer larger homes on bigger lots, others may be closer to town. Then there are those that aren’t considered as trendy or that offer fewer amenities. A home in a popular neighborhood might receive 10 offers, while just a few blocks over a property on the market might receive none.“For home shoppers, it’s good to be aware of national trends,” says Danielle Hale, chief economist for Realtor.com®. “But those national trends might not match for the homes that they’re shopping for at the prices they’re looking at in the neighborhoods they’re searching in.”The post ‘There Is No National Housing Market’: Why Location Matters Now More Than Ever appeared first on Real Estate News & Insights | realtor.com®.

Realtor.com“Cottagecore” isn’t just a hot design trend that elevates all things cozy. It will also soon be the reality for one lucky buyer who snags this historic potter’s cottage at 299 Great Hollow Rd., listed in late April for $1,595,000.Outfitted with a modern kitchen, four spacious bedrooms, 3.5 baths, and two Juliet balconies, the five-acre property has seen many changes over its 101-year-long history.With nearly 3,000 square feet, the home was originally built as a potter’s building—known as a pottery—for the nearby Cornwall Castle.In 1922, the Italian sculptor Vincenzo Rondinone built the property, dubbed “The Narrow Valley Pottery,” and later worked as its potter.“Mrs. Martin, the owner of the Cornwall Castle, hired him as her full-time potter to create unique vases, bowls, and pots to be used at the house and to be given as gifts to visitors and friends,” says listing agent Patti Guarantano.But Mrs. Martin, whose full name was Charlotte Bronson Winthrop Martin, left more behind than the stonework and pots she commissioned.“She also was responsible for the creation of one of New York City’s hottest neighborhoods: The Turtle Bay Gardens Historic District, which is on the National Register of Historic Places,” Guarantano says, referring to an East Side enclave of rare row houses.299 Great Hollow Rd.Realtor.comThe Narrow Valley PotteryRealtor.comMain entranceRealtor.comKitchenRealtor.comLiving roomRealtor.comPottery’s historyThe Narrow Valley Pottery was later converted into a home by Rondinone’s son.“In the late 1990s, the son of the potter, Nicholas Rondinone, purchased the property and began a massive, whole-house renovation,” Guarantano says.An accomplished architect, Nicholas turned the pottery into a proper house and added details such as custom, vintage doors and decorative wood panels, rescued from an old New York theater, truly making it a one-of-a-kind home.The woodsy grounds and a waterfall add to spread’s serenity. And the home’s location is tough to top, too. Set in the foothills of the Berkshire Mountains, Cornwall fuses upscale culture and laid-back New England living.The area even has a claim to fame.“The Narrow Valley Pottery is located in rural Litchfield County, renowned as the ‘Home of the Covered Bridge,’ a popular tourist destination and among the most photographed locations in the state,” Guarantano says.The post Once a Potter’s Cottage, This 101-Year-Old Cutie in Connecticut Is Listed for $1.5M appeared first on Real Estate News & Insights | realtor.com®.

Getty Images / Realtor.comEven if you don’t tune in to reality TV, you’ve likely caught wind of the drama that’s been circling the hit Bravo show “Vanderpump Rules” and the cheating scandal that has come to be known as “Scandoval” (a portmanteau of “scandal” and “Sandoval”).For the uninitiated, the reality TV juggernaut premiered in 2013 and originally followed the lives of the staff of SUR restaurant, a West Hollywood, CA, staple owned by Lisa Vanderpump, formerly of “The Real Housewives of Beverly Hills.”“Vanderpump Rules” is currently in its 10th season and experiencing a spike in ratings due to news that longtime cast members Tom Sandoval and Ariana Madix had split after 10 years because of an affair between Sandoval and his co-star Raquel Leviss.In March, the cheating scandal permeated every corner of the internet—from the typical gossip sites to even the New York Times. Since then, Sandoval has confirmed stepping out on Madix and evidence suggests that Sandoval and Leviss are still close.So if it seems like everyone has been talking about the “Scandoval,” it’s not just you.Which ‘Vanderpump Rules’ cast members currently own homes?Some of the biggest questions to come out of the controversy have to do with Sandoval and Madix’s living situation and, specifically, the Valley Village, CA, house they bought together in 2019. Are they both still living in the house? Who legally owns the property? Is the home up for sale?This shake-up in the Vanderpump universe—as well as news that two cast members recently became new homeowners—prompted us to focus the lens on Southern California and take a deep dive into the homes of Bravo’s most bankable stars.Tom Sandoval and Ariana Madix’s houseThe home that Ariana Madix and Tom Sandoval own.Realtor.comIn 2019, Sandoval and Madix were the first of three “Vanderpump Rules” couples to make the move outside of West Hollywood and purchase real estate in the San Fernando Valley. The trio of couples—including Jax Taylor and Brittany Cartwright and ex-spouses Tom Schwartz and Katie Maloney—fell for near-identical modern farmhouse mansions that were within a stone’s throw of one another.Sandoval and Madix purchased this 4,400-square-foot home for $2.08 million. The massive interior includes a chef’s kitchen with two dishwashers, a butler’s pantry, and a wine refrigerator—the perfect setup for mixologists Sandoval and Madix, who also have their own food and beverage ventures.Property records show the homeowners are “Ariana Madix and Thomas Sandoval,” so even in the midst of the cheating scandal, they have maintained their residence. For the time being, the house is off the market. But who knows what the fallout will be after the current season of their reality show concludes.Living roomRealtor.comKitchenRealtor.comBackyardRealtor.comBedroomRealtor.comJames Kennedy’s houseFrontRealtor.comJames Kennedy is another “Vanderpump Rules” star who calls the valley home.The reality TV star and DJ recently purchased a remodeled three-bedroom, two-bathroom house in the heart of Burbank, CA, for $1.35 million.The modest suburban spread was designed with comfort and style in mind and includes a stylish kitchen, a primary suite with double vanity, a pool, and a covered barbecue area in the backyard.James Kennedy’s kitchenRealtor.comDining and living areaRealtor.comEn suite bathroomRealtor.comBackyard with poolRealtor.comLala Kent’s houseLala Kent’s houseRealtor.comLove her or hate her, there’s no denying that Lala Kent had a rocky couple of years due to her breakup with her partner, disgraced Hollywood producer Randall Emmett. But a bright spot came this year for Kent when she purchased an oasis in the desert: this 2,300-square-foot home in Palm Springs, CA.The $1.35 million, three-bedroom pad is set on a golf course and offers jaw-dropping views of the mountains in the backyard. It’s well-equipped for the hot weather with a pool and covered lanai.Kent’s new home is also next door—yes, next door—to “Vanderpump Rules” co-star and best friend Scheana Shay.Living roomRealtor.comKitchenRealtor.comBedroomRealtor.comPatioRealtor.comBackyard with golf course viewsRealtor.comScheana Shay’s houseWhile the rest of her “Vanderpump Rules” cast mates were buying in the valley in 2019, Shay set her sights southeast and scooped up a house for $725,000 in Palm Springs. The home has proven to be a good investment—Shay’s friend and cast mate Kent paid nearly double for a similar three-bedroom next door.The 1,900-square-foot desert dwelling is filled with modern design touches like an electric fireplace, “sliding walls of glass,” a saltwater pool and spa, and a large fire pit.Shay shares the home with her husband, Brock Davies, and daughter, Summer Moon.Scheana Shay’s houseRealtor.comLiving roomRealtor.comKitchenRealtor.comBackyard, also with golf course viewsRealtor.comPoolRealtor.comLisa Vanderpump’s houseVilla RosaVery Vanderpump/Bowman Architectural Photography Lisa Vanderpump, restaurateur, philanthropist, and matriarch of the “Vanderpump Rules” empire, has lived in a hilltop estate, dubbed Villa Rosa, since 2011. She and her husband, Ken Todd, purchased the 8,800-square-foot home, which has been heavily featured on TV, for $10.2 million.The five-bed Beverly Hills mansion is known for its lush landscaping, opulent interior design, and plenty of space for Vanderpump’s menagerie, including five rescue dogs, two miniature horses (including Velvet, a new pony who makes a cameo on this week’s episode of “Vanderpump Rules”), one retired racehorse, swans, peacocks, fish, and various other pets.BackyardVery Vanderpump/Bowman Architectural PhotographyBedroomVery Vanderpump/Bowman Architectural PhotographyClosetVery Vanderpump/Bowman Architectural PhotographyDining roomVery Vanderpump/Bowman Architectural PhotographyLiving areaVery Vanderpump/Bowman Architectural PhotographyThe post The Real Houses of ‘Vanderpump Rules’: In the Midst of ‘Scandoval,’ Here’s Where the Cast Currently Lives appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comIf you’re a superfan of designing duo Nate Berkus and Jeremiah Brent and think you’ve seen every project they’ve ever done, think again. All the best renovators have a roster of clients—some who aren’t necessarily eager to go on reality TV.But now we’re giving you a chance to peek inside a very private, palatial estate that has been redone in prime Berkus-and-Brent fashion, out of public sight and without fanfare.Feel free to ooh and ahh over their mercurial design touches in this modern, Beverly Hills manse, now on the market for $21,950,000.Modern home with interiors by Nate Berkus and Jeremiah BrentRealtor.comThis particular luxury home is a shining example of what Berkus and Bent can do when they’re not limited by cameras or tight budgets.The five-bedroom, eight-bath, cutting-edge residence was completed in 2019 and listed at $23,995,000. The current owners nabbed it for a very discounted $16,800,000 in February 2020.Berkus and Brent came in shortly thereafter, adding their own design concepts to transform the stately structure into a lively yet elegant family home.Of course, much of the 11,000-square-foot home’s superlative beauty and style were already baked in. Designed by prominent architect Paul McClean, the house features travertine-lined walls, oak ceilings, and steel columns.Back exteriorRealtor.comThere are, naturally, myriad floor-to-ceiling windows and tall, disappearing glass doors—perfect for taking in the verdant canyon, city, and ocean views. The home’s deliberately unique construction also lends itself to commingling the lush, surrounding landscape with the dwelling’s interiors.Canyon, city, and ocean viewsRealtor.comBerkus and Brent added awe-inspiring touches—bronze cabinetry and floating shelves in the kitchen; posh, suede curtains in the dining room; and black plaster, a marble bar, and bronze accents in the lower-level lounge.KitchenRealtor.comDining roomRealtor.comLoungeRealtor.comTouches of the pair’s trademark whimsical flair are found in the spaces created for the owner’s young daughter. She has a cheerful pink and purple bedroom with a bunk bed. There’s also a playroom with a rope swing; padded, pink wall panels; and a colorful, hanging light.Pink playroomRealtor.comThere are also plenty of impressive amenities, including a marble-clad, indoor wellness center with a hot and cold plunge pool; a cedar sauna; and gym.SpaRealtor.comIn addition, there’s a luxurious home theater, subterranean auto gallery, and an indoor golf simulator.Home theaterRealtor.comThe property is private from the street, thanks to a full-grown hedge that hides a stone-clad facade with relatively few windows.Street viewRealtor.comHowever, generous windows in the back invite views of the half-acre grounds and an infinity pool, a Japanese garden, rolling lawns, patios, and lounge areas.BackyardRealtor.comArchitectural Digest reports that Berkus and Brent have become quite chummy with the sellers, in the process of the home’s reimagining.The duo stars in their own HGTV show, “The Nate & Jeremiah Home Project,” in which they help people redesign their homes in and around New York.The post Nate Berkus and Jeremiah Brent Designed This Dazzling $22M Beverly Hills Home You’ve Never Seen Before—Have a Look! appeared first on Real Estate News & Insights | realtor.com®.

Todd Owyoung/NBC via Getty Images / Realtor.comIt looks like Colin Jost isn’t planning to spend the summer surfing.Instead, the “Saturday Night Live” Weekend Update co-host is renting out his oceanfront home in Montauk, NY, at the eastern end of Long Island.The four-bedroom, three-bath property is idyllic, with sea views and a sparkling pool—all ready for blissful summer leisure.But before you start packing, you’ll have to dig deep—the breezy-chic rental is $65,000 a month. Jost has had the beach retreat since 2015, when he picked up the place for about $2.1 million.The wry funnyman is doing quite well on the real estate front. He sold his West Village duplex in NYC last year for a tidy profit. Jost bought the two-bedroom, two-bath bachelor pad for about $1.7 million in 2011 and sold it for a little more than $2.3 million.As for his beach life, here’s what he’ll miss this summer.Ocean views from the deckRealtor.comLiving roomRealtor.comDining areaRealtor.comKitchenRealtor.comOcean vistas fill the house from the decks and grassy lawn, all situated “south of the highway.” In Hamptons-speak, this means the home is in one of the area’s more desirable locations. The 2,600-square-foot abode is set on a hill, offering salty breezes and extra privacy.The simple decor inside offers a mostly white palette, with pops of blue. Throughout the space, there are multiple decks and glass walls that flood the rooms with light. There’s a new Sub-Zero fridge in the open kitchen and a double fireplace in the main living space that warms the living and dining rooms.The primary bedroom also has ocean views, its own deck, a wet bar, and walk-in closet. Other amenities include a steam shower, a bocce court, fire pit, heated pool, and a Sonos sound system with indoor and outdoor speakers.Main bedroomRealtor.comBathroomRealtor.comYard in the rearRealtor.comPoolRealtor.comJost, who’s married to actress Scarlett Johansson, has been a part of “SNL” since 2005, when he joined as a staff writer. The comedian, author, and actor was made co-anchor of the show’s “Weekend Update” segment in 2014.The post ‘SNL’ Star Colin Jost Is Renting Out His Montauk Beach House for $65K a Month appeared first on Real Estate News & Insights | realtor.com®.

John Shearer/TAS23/Getty Images for TAS Rights Management / Realtor.comAfter launching her blockbuster “Eras” tour, superstar Taylor Swift is making a splash in the real estate rental market, as reported by TMZ.Tay Tay’s former, luxury townhome—smack-dab in the middle of New York City’s West Village—is up for rent. And it’s a mere $45,000 a month.The enchanted address is actually the exact title of one of her hit songs: “Cornelia Street.”So while Swift is busy with her tour, let’s turn our attention to her posh, one-time rental home. The chic space has four bedrooms, seven baths, and a classic brick facade.Living roomRealtor.comKitchenRealtor.comDining areaRealtor.comPatio and outdoor fireplaceRealtor.com  Like many buildings in NYC’s Greenwich Village, this one abounds with history. Erected more than 150 years ago, the former carriage house is now a modern gem that’s filled with every amenity a city dweller could want.The casually elegant space has vaulted ceilings, an indoor pool, three gas fireplaces, a wood-burning fireplace, and that most-coveted perk of all in the Big Apple—a personal parking spot.Beams overhead, hardwood flooring, and leaded windows add charm and style to the home’s many rooms. The kitchen features granite counters; a Wolf range; Sub-Zero refrigerator; and a nifty, double-drawer dishwasher. There’s room to eat near the kitchen, plus a second dining area with huge windows and views of the backyard—another rare extra that’s included with the property.The third-floor bedroom suites have their own terraces, and one boasts a walk-in closet and en suite bath. But it’s the primary sleep space (which was undoubtedly Taylor’s) that’s truly outstanding, with its lofty ceiling, massive marble bath with a glass shower and skylight, plus a terrace with a private lounge area and an outdoor fireplace.Primary bedroomRealtor.comMain bathroomRealtor.comRoof terraceRealtor.comIndoor poolRealtor.comThe musician can boast quite the real estate portfolio. In addition to her spaces in NYC, the songstress has owned homes in upscale enclaves such as Beverly Hills, Malibu, and Nashville.Few performers today are as accomplished and busy as Swift. She has won a dozen Grammys (and has been nominated nearly 50 times) and 14 MTV Music Awards. Swift is also the only solo female recording artist to win the Grammy for album of the year three times.The post Taylor Swift’s Actual ‘Cornelia Street’ Pad in NYC’s West Village Available for $45K a Month appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comIt might look like a midcentury modern space, but don’t use that term to describe this striking Miami, FL, home.“It’s tropical modern or eco-contemporary form,” explains listing agent Karina Reyes, with Compass, of the home that was built in 1968.Regardless of what you call it, it’s a hit with buyers. The home was listed in April for $4.2 million, and an offer is already pending.Various architectural websites define “tropical modern” as design that resembles modern architecture, with its focus on functionality, while taking tropical climate and environmental conditions into account.Architect Alfred Browning Parker, who died in 2011, designed the rare residence for himself and called it “Woodsong.”Wallpaper magazine once ranked the modern masterpiece among its top houses in the world.The finely designed space last sold in 2017 for a little more than $2 million.“It’s made out of mahogany wood, both inside and out, and then fortified by steel beams and a concrete base,” Reyes says. “It’s basically three distinct pods: a living pod, a dining pod, and a sleeping pod.”Dining areaRealtor.comLiving areaRealtor.comA covered but exposed breezeway connects each of the pods.“Parker’s goal with this house was to live immersed in nature, so the pods are raised so you’re eye to eye with the canopy and the lush greenery,” Reyes explains. “In order to go through your day-to-day activities, you have to step outside and experience the outdoors.”And with Florida’s frequent summer rains, venturing out can be a multisensory affair.“It’s a covered breezeway, but you might get a little bit of a splash,” Reyes says.PoolRealtor.comAn outdoor lap pool runs alongside the structures.“From the sleep pod, you can open the door and jump right in from your room,” she explains.The spacious place has four bedrooms and five bathrooms.One of the bedroomsRealtor.comAlthough there are distinct areas, the home has a wide-open feel.“All of the rooms are lofted and open, so there’s no enclosed room in the whole house,” Reyes observes.She says the multiple skylights are her favorite feature.“When you’re standing in the house, if you look up or around, you’re going to encounter nature,” she notes. “With the skylights throughout the entire house, you can look up and see the sky. The skylights are circular, and they’re in each pod and on the deck. Not only having nature around you—but above you in your house—is kind of cool.”Spa and skylightRealtor.comThe home was originally built without air conditioning, but each pod now has its own HVAC unit and other mechanicals.“The windows are positioned across from each other to allow for a cross breeze,” Reyes explains. “The current owner keeps the windows and doors open a lot of the time, with screens to allow the beautiful sounds to come in—like the running water from the pond, the pool, the winds, the rain. You can hear it all, and it’s very relaxing.”Six offers on the tropical marvel came in quickly, which surprised Reyes a bit.“Most of Alfred Browning Parker’s homes take about six months to sell, because it’s such a unique buyer profile that wants to live kind of unconventionally,” she notes. “It’s not for everybody, but somehow there were six buyers willing to move in immediately.”The post Transcendent Tropical Mansion Attracts Bevy of Hopeful Buyers in Miami for $4.2M appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comA living roof is just one alluring architectural element of a lakefront compound in Bigfork, MT.The seven-structure, nearly 17-acre spread on Flathead Lake is listed for $17.5 million.You might think of this primo property as a deluxe version of sleep-away camp.The grass-topped main house anchors the fascinating space.“It has one master bedroom with an outdoor sleeping room attached to it, and then it has two executive offices, two bathrooms, two closets,” explains listing agent Kelly Laabs, with Revel Real Estate.Exterior of main house with cordwood wallsRealtor.comThe main house has just a small galley kitchen, because it’s part of an overarching idea for the entire property, which is designed around a camp concept.“It was built for everybody to be around each other and have meals together and celebrate together, but then to be able to retreat back to your own dwellings,” Laabs says.And you have the option to join in or not. What family gathering couldn’t benefit from that setup?“All of the dwellings where there are bedrooms have a galley kitchen,” Laabs explains, noting that the cooking spaces are convenient “if you wake up in the morning and don’t feel like going to the main kitchen.”Original cabinRealtor.comStandout spacesThe property is called Stone Creek Camp after Martin and Connie Stone, the couple who envisioned the property back in 2007.The standout spread was featured in Architectural Digest in 2009. The publication notes that the original owners wanted a camp-like setting with several distinctive buildings, each with a separate purpose. While construction work was finished, the couple lived in an existing cabin on the property.“The effort and the craftsmanship and the materials are incredible,” Laabs says, noting that guests are guided by wood signs on dirt paths. “It has a true camp feel and vibe to it.”The main house features the owners’ bedroom suite and is a true architectural delight.“It’s not something you see every day,” Laabs says. “It’s very stunning and well done. There’s a ton of concrete and glass and everything is kind of movable, so all of the spaces can become indoor and outdoor spaces and enjoyed year-round.”The architect’s website notes that the cordwood walls are harvested from grand fir trees on the site.Indoor-outdoor living spaceRealtor.comExteriorRealtor.comThe nearby lake house has five additional bedrooms, including a bunk room. The tree house offers three more bedrooms.Laabs says his favorite place on the property is either the main house or what he calls the lodge.“I think they’re two of the most remarkable buildings I’ve ever been in, and I think the combination of the two is hard to beat,” he says, adding that it’s a “really special gathering place in the lodge for everybody to come together, whether it’s for a meal or to celebrate or just to play games.”The main, commercial-style kitchen is attached to the lodge, which is designed for entertaining crowds. But there are also multiple dining options for large or small gatherings.“There’s a small dining table near a stone fireplace, where you can eat; or you go over to the lodge, where there is seating for a large group,” Laabs explains. “It’s a really special gathering place, ultimately. It gives everybody a place to retreat and [is] a great multigenerational property.”Gathering spaceRealtor.comOfficeRealtor.comEach structure has its own unique structure and furnishings, connected by pathways.“They all feel like there is a sense of place, and everything ties together well—but they do have their own character,” he says.The land itself has more than 718 feet of lake frontage.The perfect buyer is a “family that wants to create something, where they can make memories that will last forever and be surrounded by friends and family on one of the most beautiful lakes,” Laabs says.The current sellers have only had the place since 2021. The property is sold fully furnished, so it’s ready for the next owner.“It’s turnkey,” Laabs says. “Bring your toothbrush.”LakeRealtor.comThe post Attention, Campers! Luxe, Lakefront Compound on 17 Acres in Montana Going for $17.5M appeared first on Real Estate News & Insights | realtor.com®.

Visual China Group via Getty Images / Realtor.com“Mo Buckets” is ready to move on from his place in the Sunshine State.The colorful nickname belongs to former NBA center Marreese Speights. The big man with the sweet shooting stroke has put his enormous home in Clearwater, FL, on the market for the tidy sum of $2,599,900.With seven bedrooms and 7.5 baths, the nearly 9,500-square-foot residence is set behind a gate. Once inside the gate, a road leads to the private estate, complete with a pool, guesthouse, and five-car garage.Pool areaRealtor.comOfficeRealtor.comLiving areaRealtor.comLarge families and those who love to entertain will be thrilled with the space this home provides, including formal living and dining rooms, a paneled study, and a family room with a fireplace.Love to host game nights? There’s an incredible recreation area with a pool table as well as a home theater with room for a poker table and a popcorn machine.Custom cabinets grace the kitchen, along with a huge island, granite countertops, two breakfast bars, a walk-in pantry, and a wine fridge.The primary bedroom suite is a dream come true, with its own living room and fireplace plus a bathroom with a two-person shower, two sinks, and a bidet.Outside, you’ll enjoy a heated pool, spa, and waterfalls, along with a kitchen that’s equipped with an ice machine, fridge, grill, and cooktop. There’s even a guest cottage with another full kitchen, bed, bath, and sauna.Speights played for six teams over his 10-year career in the NBA. He was a member of the 2015 NBA champion Golden State Warriors and was on the Warriors squad that lost the 2016 finals. He eventually took his talents to China and finished out his pro basketball days with the Guangzhou Loong Lions. In April, he took an assistant coach gig at Georgia Southern University.The post Following New Coaching Gig, ‘Mo Buckets’ Ready To Bail on $2.6M Florida Home appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comOdd angles are the star of a retro, Richfield, WI, home in the woods.Listed for $475,000, the custom-built abode is tucked among the tall trees on a 2.5-acre lot.“You just don’t see architecture like this very often,” says listing agent Ricky Anderson, with Powers Realty Group. “The homes that are newly built are often more cookie cutter properties, so when you see something that has architectural sightlines like this one, it draws a lot of people and it catches a lot of attention—and people want to see it, and they appreciate it.”Architect Gerald Keller designed the 3,038-square-foot home in 1972. The space is replete with large windows, lofted ceilings, and large timber beams.“Just the angles and use of triangles throughout the property is something that’s very unique,” Anderson says. “Nothing is your typical 90 degrees, and there’s not a box room. It’s got its own geometric shape.”EntryRealtor.comLiving roomRealtor.comThe octagonal-shaped kitchen is the centerpiece of the main living area and is crowned by a dramatic, circular light fixture.Octagonal kitchenRealtor.comThe sellers have had the place for 35 years and recently updated the roof and many of the mechanicals.“They called it home, raised kids in it, and now life has given them an opportunity to move somewhere else, and they’re taking it,” Anderson explains.There are only two bedrooms and one full bathroom, which was renovated in the 1990s.BedroomRealtor.com“That’s a long time ago already,” Anderson says with a laugh, noting that there’s reason for all the tan tile used in the remodel. “They wanted it to complement the home as much as possible. That’s why you see the brown complementing the outside and the other interior of the house.”Brown bathroomRealtor.com‘It’s something different’The home sits on a hill and surprises you when you pull into the driveway.“It’s not your traditional colonial or ranch that we see on a day-to-day basis,” Anderson says. “It’s something different. It brings art into the architecture and the living space. Not everyone appreciates that, but for those of us that do, it makes every room very comfortable in its own unique way.”The unique dwelling is surrounded by trees, adding to its serene aesthetic.“You have tons of privacy,” Anderson says. “It’s very peaceful. It’s almost like your own retreat or oasis. It’s very easy to unplug after a day’s work. You walk inside the property, and you’re greeted by all these glass windows and big patio doors that open up the backyard. You feel like you’re outside, but you’re in the comfort of a home.”Still, Anderson acknowledges the place might not be every buyer’s cup of tea.“It’s for someone who appreciates architecture, someone who can look at the current home and appreciate the bones but also make updates based on their own style,” he says.The post Nestled in Nature: Retro Wisconsin Home Looks To Fetch $475K appeared first on Real Estate News & Insights | realtor.com®.

Getty ImagesConsumers expect mortgage rates to drop, so they’re feeling a lot more optimistic about the housing market, according to a Fannie Mae poll published Monday.After the U.S. Federal Reserve’s rate increase last week, the Fed Chair signaled a potential pause in hikes. Rates dipped after the news, and economists are expecting mortgage rates to gradually decline over the course of this year, and into 2024.Consumers see this as a good sign for mortgage rates. The monthly Fannie Mae Home Purchase Sentiment Index rose in April to the highest level since May 2022.In April, 22% of consumers polled said they expect rates to go down, compared to just 12% last month.In April, 22% of consumers polled said they expect rates to go down, compared to just 12% last month.The increase in overall home-buying sentiment is “primarily driven by consumers’ more optimistic mortgage rate expectations,” Doug Duncan, senior vice president and chief economist at Fannie Mae, said in a statement.People believe mortgage rates will fall over the next year, which “could be due to a combination of factors,” Duncan said, “including an awareness of decelerating inflation, market suggestions that monetary conditions will ease in the not-too-distant future, and, of course, actual mortgage rate declines during the month.”The share of respondents who said it’s a good time to buy a home rose to 23% in April, from 20% the previous month.But would-be buyers are still frustrated by how expensive it is to buy a home. Many respondents said they expect home prices to go up in the next 12 months. The share of those who believe in rising home prices was 37% in April, up from 32% the previous month.High home pricesEven though buyers are feeling more optimistic in April, this may “prove to be temporary,” Duncan said, “as consumers continue to report uncertainty about the direction of home prices.”High home prices are the chief reason why consumers believe it’s a bad time to buy a home, he noted.The median price of an existing home was $375,700, as reported by the National Realtors Association in April. A new home was $449,800, according to the Census Bureau.“Until affordability improves for a larger swath of the homebuying public,” Duncan added, “we believe home sales will remain subdued compared to previous years.”The frenzied pace of home sales has slowed considerably after the Fed hiked interest rates around this time last year. Home sales fell 22% in March, as compared to the previous year, the NAR said.“Housing has just switched from where it was like a full-on party with champagne to a more austere market,” Bess Freedman, CEO of Brown Harris Stevens, told MarketWatch in an episode of Barron’s Live.With higher interest rates and historically high home prices, “people are much more cautious and everything is a lot more expensive.”The post Potential Home Buyers Are More Optimistic on Housing Market for One Big Reason, Fannie Mae Says appeared first on Real Estate News & Insights | realtor.com®.

Scott Dudelson/Getty Images / Realtor.comLittle lies? Nope, it’s the truth—Lindsey Buckingham is selling his home in the resort town of La Quinta, CA.The lead guitarist and co-lead vocalist of Fleetwood Mac fame has put his four-bedroom, 4.5-bath, desert spread on the market less than three years after snapping it up.The rocker purchased the property in 2020 for $3,725,000. The getaway retreat hit the market in April for $6.6 million and has already found a buyer. It’s listed in contingent status.The contemporary, Spanish-style manse is 25 miles from Palm Springs. And it’s even closer to the Coachella music festival, about 10 miles due east.Built in 2014Realtor.comNearby golf courseRealtor.comLiving roomRealtor.comKitchenRealtor.comOpen-air diningRealtor.comBuckingham was no doubt enjoying life during his short tenure in this pretty place. The home is part of a swanky golf community known as Hideaway. The house sits on the course’s fifth hole, which was designed by Pete Dye.You enter the abode through a courtyard with a custom fountain, an outdoor entertainment area, and a fireplace. Inside, the luxury continues with indoor-outdoor living options at every turn, thanks to opening glass walls.The place comes furnished, which makes moving right in a breeze. Salvaged-wood details, oak flooring, and a soft white paint scheme channel a chic, modern farmhouse vibe by way of the California desert.There’s another fireplace in the main living room, along with a coffee and beverage station. The kitchen sports two islands, marble finishes, and stainless appliances.A formal dining space boasts another fireplace and access to a glassed-in wine room. The main bedroom suite is a study in opulence, with soaring windows, a sitting area, and rows of clerestory windows for extra sunshine. The home comes with a casita for overflow guests, two covered patios, a fire pit, and a gorgeously landscaped yard and pool area.Main bedroomRealtor.comPrimary bathroomRealtor.comOutdoor living areaRealtor.comPatio and fire pitRealtor.comPool with course viewsRealtor.comOften touted as one of the best guitarists to ever strum, Buckingham has nabbed three Grammys and was inducted into the Rock & Roll Hall of Fame in 1998.Fleetwood Mac might be best known for their smash album “Rumours,” one of the best-selling records of all time.The post Lindsey Buckingham Goes His Own Way and Lists California Desert Getaway for $6.6M appeared first on Real Estate News & Insights | realtor.com®.

Getty ImagesIs this familiar? It’s the last day of your vacation, ocean water laps your feet, and the sound of the rhythmic waves holds you in a trance. Then, as sunset gives way to twilight, a thought swims into your mind and grabs hold: Maybe you don’t have to leave. Maybe, instead of visiting once a year, you could live at the beach.I’ve been there.Of course, the next day, we packed our things and headed home, like we always do. But perhaps that idea isn’t so crazy.Maybe you’re thinking a beach home could be your second home or vacation getaway. Perhaps you’ve been wondering whether you could retire by the beach. Or maybe it’s time to make that lifestyle change you’ve dreamed about.No matter the reason, we’ve sifted through the dunes of data, and we’re happy to report that a beach home might be more attainable than you think—you just need to know where to look.The data team at Realtor.com® found the U.S. towns where buyers can find the most affordable homes near the water. Nope, the world-famous and wealthy enclaves of the Hamptons and Malibu didn’t make the cut.So where are these affordable beach towns? Everywhere from Connecticut to California. Some are small communities, others are bigger cities. They range from sandy beaches to rocky shores, from splashy playgrounds buzzing with bar scenes and family activities to quiet seasides where cracking open a book while sipping a spiced mojito is de rigueur.Wherever you pull it off, living near the beach is a lifestyle all its own. It can be both energizing and relaxing.Sherry Korbel, a Realtor® with Bayside Realty in Crescent City, CA, moved to the area about five years ago.“I love it here,” she says of the small city named for its crescent-shaped stretch of sandy beach. It was relatively unknown and less expensive than the Los Angeles area where she’s from.“I kept looking at properties close to the water, but they were all so expensive,” she recalls of L.A. But after seeing the lower prices in the Northern California town, she made the move and hasn’t thought twice about giving up the traffic, smog, and congestion of a big city.To find the most affordable beach towns for homebuyers in 2023, we started by using a federal listing of beaches and their locations. We aggregated Realtor.com listing data for every home put on the market in the past year located within a one-mile radius of each beach. We then selected the most affordable beach towns by price per square foot. Only locations with at least 50 properties within a mile of the water in the past year were included.We limited our list to just one beach town per state to ensure geographical diversity. And although we did favor places on the ocean, we also included a few bayside locales.Despite what you may have assumed, in some places, a home by the beach can cost about the same as an average U.S. home—or less. So let’s dive in.1. Gulfport, MSFor $225,000, buyers can find this fully renovated condo within a five-minute walk to the beach.Realtor.comMedian price within 1 mile of a beach: $224,900Median price per square foot within 1 mile of a beach: $144The white-sand beaches of Gulfport, situated about halfway between Mississippi’s border with Louisiana and the Alabama border, tops our list once again.The city boasts 26 miles of beach on the Gulf of Mexico.“But there are also a lot of back bays and riverways,” says Angelia Clark, a Realtor with Re/Max Results in Real Estate. The area also offers lots of shopping centers, casinos, sailing, and water-skiing.Gulfport is a medium-sized city of about 72,000 residents, offering a blend of small-town feel and city life. It’s known for Southern cuisine. However, the town has also been hit by hurricanes, including Katrina in 2005, which destroyed local properties.“For years, we’ve had tons of snowbirds who come down here from the North for the winters,” says Clark. “You can go deep-sea fishing, be on a barrier island, then have a nice dinner at one of our casinos.”For $225,000, buyers can find a fully renovated condo within a five-minute walk to the beach. Biloxi, MS, directly adjacent to the east of Gulfport, is also quite affordable for buyers.2. Newport News, VANewport News, VAGetty ImagesMedian price within 1 mile of a beach: $200,000Median price per square foot within 1 mile of a beach: $150Newport News has one of the richest histories of any place on our list.The city is perched on the southern tip of the Virginia Peninsula, where the James River meets the Chesapeake Bay near its mouth to the Atlantic Ocean. Newport News is about 25 miles from Jamestown, VA, one of the first English settlements in North America.Now, it’s home to the largest shipyard in the nation and some very nice beaches, on both the Atlantic and James River sides. Huntington Beach is north of downtown Newport News, while King-Lincoln Park Beach and the larger Anderson’s Beach are east of downtown.If you’re willing to drive a bit, the oceanfront options open up exponentially, including nearby Buckroe Beach. And 40 miles away, you can hit spectacular Virginia Beach, the best in the state.The town offers plenty of options for fishing and boating as well as fine dining. There are even Civil War reenactments. (It is Virginia, after all.)Buyers looking for a deal can check out this three-bedroom, two-bathroom condo with a private beach on the market for $150,000.3. New London, CTBeach lovers can get a four-bedroom home that’s just around the corner from Ocean Beach.Realtor.comMedian price within 1 mile of a beach: $257,000Median price per square foot within 1 mile of a beach: $175For non-New Englanders, Connecticut might not be the first place that comes to mind when envisioning affordable beach towns. After all, the Constitution State‘s housing market is about 20% more expensive than the U.S. median, and the average Connecticut beachside real estate comes with a price tag north of $1 million.“New London is like a little gem of affordability,” says Keith Turner, mortgage lender with Homestead Funding, in New London. “Just look at the prices in some of the cities near here.”And he’s right: In Mystic, CT, just a few miles east, homes near the beach cost more than three times as much per square foot.New London boasts one of the best public beaches in the state: Ocean Beach Park, on the Long Island Sound at the foot of the Atlantic. It features miles of sand, a long boardwalk, and lots of beachy entertainment, including a minigolf course, rides, and a spray park. On summer nights there are concerts, free movies, and fireworks.A condo right on the water just south of Green Harbor Beach goes for about $170,000. And for about $100,000 more, beach lovers can get a four-bedroom home that’s literally just around the corner from Ocean Beach.“People tend to overlook the area,” Turner says. “It’s a true seaport town. It’s got community. You know your neighbors here. It’s not like those other touristy New England towns. … New London still has the same feel it’s had for a long time.”4. Grand Isle, LAThose looking for remote living on this island can get a small, classic beach house for less than $250,000.Realtor.comMedian price within 1 mile of a beach: $309,500Median price per square foot within 1 mile of a beach: $190Grand Isle, a barrier island connected by a short bridge to mainland Louisiana, is by far the smallest town on our list—with only around 1,000 official residents.The tranquil town offers quick access to not only the beach but also Grand Isle State Park, which has hiking trails, campsites, and a fishing pier. Folks can go deep-sea, saltwater fishing in the park. (There are plenty of speckled trout to catch.)Those looking for remote living on this island can get a small, classic beach house perched atop stilts for less than $250,000.5. Corpus Christi, TXFor around $270,000, beach lovers can get an updated, three-bedroom townhome facing a tranquil duck pond.Realtor.comMedian price within 1 mile of a beach: $289,948Median price per square foot within 1 mile of a beach: $206Corpus Christi, on the Gulf of Mexico, is the largest city on our list with about 320,000 residents. It has 192 square miles of shoreline.Beach lovers have many options in this area. Residents and visitors can enjoy the sand and sun on Corpus Christi Bay, at places like North Beach or McGee Beach. They can also make the short trip to Padre Island, the long barrier island that runs along much of Texas’ Gulf of Mexico coastline.Those visiting North Beach can browse the souvenir shops, cycle or skate down a concrete beach walk, or go jetty fishing. There’s also a pet-friendly restaurant called Pier 99, which features a menu just for dogs. Sunbathers at McGee Beach can rent cabanas as well as personal watercrafts and pedal boats. As we said, options.The city sustained serious damage from Hurricane Harvey in 2017, which helps to explain why prices are still lower here than in other parts of the country. But when it’s not wreaking havoc, the steady wind is actually a source of recreation here: Corpus Christi is considered one of the best places in the East for windsurfing, kite boarding, and kite flying.For around $270,000, beach lovers can get a decent-sized, three-bedroom home in the bay located less than a mile from the water.6. Atlantic City, NJAtlantic City, NJGetty ImagesMedian price within 1 mile of a beach: $185,000Median price per square foot within 1 mile of a beach: $213Atlantic City, famed for its casinos and boardwalk, almost always ends up on the list of affordable beach towns. No surprise: While it might be better known for those casinos, it also has one of the Northeast’s best selections of long and sandy Atlantic Ocean beaches—and lots of affordable housing.Atlantic City’s homes are the smallest on the list, which translates into the least expensive.The city has gone through well-documented downturns, but the local economy seems to be on the upswing, and people are moving back.“Atlantic City has so much more to offer now than it did 40 or 50 years ago,” says David Fiorenza, an associate professor of practice at Villanova University.“We’ve got one of the biggest boardwalks, and there’s more than just the casinos now—we get huge concerts and festivals in the summers. … People here don’t have to go into Philadelphia [about an hour northwest] for live music or the nightlife.”A relatively small, three-bedroom home that sits about 500 feet from the beach can be picked up for under $170,000— offering a significant value for those looking for beach living on a budget.7. Navarre, FLBeach devotees looking to live on Navarre Beach can score a condo for around $450,000.Realtor.comMedian price within 1 mile of a beach: $442,500Median price per square foot within 1 mile of a beach: $240Florida has long offered excellent value for those looking to live near the ocean. That’s especially true on the panhandle, where the beaches are known for their pristine white sand.Navarre, located about 20 miles east of Pensacola, has the largest median home size and highest overall home prices of any location on this listResidents of the town are just across the Santa Rosa Sound from Santa Rosa Island’s Navarre Beach. Those who don’t like to get wet can go fishing on the pier or pedal along a scenic bike path.Beach devotees looking to live on Navarre Beach can score a condo for around $450,000. Or for about $100,000 less, you can own a free-standing home on the inside of the Santa Rosa Sound.8. North Beach, MDBeach seekers can find a move-in ready, three-bedroom townhome for $310,000 that is just a 12-minute walk to the boardwalk.Realtor.comMedian price within 1 mile of a beach: $384,495Median price per square foot within 1 mile of a beach: $245North Beach is located on the Chesapeake Bay, about 30 miles east-southeast from Washington, DC. The small town was established in 1900 as a getaway for DC and Baltimore residents looking for a place to keep a vacation cottage with easy access to beaches.North Beach boasts a boardwalk with a dedicated bike path and plenty of shops. Those looking for nightlife, gambling, or a family-friendly trip to the water park can head to neighboring Chesapeake Beach, MD.Beach seekers can find a relatively new condo on the boardwalk for between $365,000 and $390,000 with views of the beach and the bay.9. Crescent City, CACrescent City, CAGetty ImagesMedian price within 1 mile of a beach: $329,000Median price per square foot within 1 mile of a beach: $248It’s a surprise to see a California locale on just about any most-affordable list—especially a list of affordable beach towns. And consider this geographic head-scratcher: Crescent City, about 20 miles south of the Oregon border, is the northernmost location of any beach town on this year’s list. That’s a testament to the enormous size of the Golden State.Beachgoers should be aware, though, that California coasts can be cold, even in the summer. While this sandy beach might not be the best spot to take a dip, that hasn’t scared off new residents who are drawn by the lower prices.“People are selling their tract homes around L.A. for $700,000 or $800,000 and coming up here and paying for a home with cash,” says Bayside Realty’s Korbel.This 100-year-old, four-bedroom home just three blocks from Battery Point Beach is listed for a little under $300,000.10. Shirley, NYFor about $240,000, you can get a fully renovated three-bedroom Cape Cod style home just a short walk to Shirley Beach.Realtor.comMedian price within 1 mile of a beach: $414,990Median price per square foot within 1 mile of a beach: $256Make no mistake: Shirley is not the Hamptons. Yes, both areas are on Long Island and both have beaches—but that’s where the resemblance ends. Shirley is small, unpretentious, and cheap. It’s directly next door to another affordable beach town that made the list last year, Mastic.From Shirley, it’s a short drive—or even a long walk—to Outer Beach at Smith Point. This is one of the barrier islands that make up Fire Island National Seashore. Another option is Smith Point Beach, which bills itself as “the county’s largest oceanfront park” and is known for its crashing surf. The white-sand beaches are popular with sunbathers and surfers as well as campers. Folks can also visit the Wertheim National Wildlife Refuge, home to deer, fox, turtles, and other animals.For about $350,000, you can get a stylishly updated four-bedroom home that’s not far from Outer Beach. Just see how far that gets you in South Hampton.The post High Tides, Low Prices: America’s 10 Most Affordable Beach Towns for Homebuyers in 2023 appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comA Fort Bragg, CA, property teeming with Victorian charm is ready for a new owner.It’s “the oldest building in the city’s oldest neighborhood,” according to Tracy Wolfson, of Engel & Voelkers San Francisco, Mendocino Branch. She’s the listing agent for the inn, which was built in 1886 and is listed for $1,595,000.Known as The Weller House Inn, the storied property is set on a half-acre lot and currently operates as a short-term rental, catering to group buyouts, weddings, and retreats. Rooms can also be booked individually, and the redwood ballroom can be reserved for events.The space could also be turned back into a single-family home, or the next owner could continue to run it as an inn. The floor plan offers many options.There are seven bedrooms in the main house and four in the four-story, former water tower next to the house. Each bedroom has its own bath.An additional three rooms in the main house—one with an exterior entrance—could be converted into bedrooms.The property offers amazing sight lines from the water tower’s balcony, a perfect perch for whale watching.“That is the highest point in Fort Bragg,” Wolfson says. “The views are really nice.”EntryRealtor.comKitchenRealtor.comOne of the bedroomsRealtor.comOne of the bathsRealtor.comBallroomRealtor.comWater towerRealtor.comThe sellers purchased the property in 2020 for $1,250,000, and now they’ve decided to let it go.“The interior is in very good shape,” Wolfson says, noting that exterior paint touch-ups are needed. “Anytime you’re living close to the coast, you’re getting that salt-water influence.”A colorful pastIf only this inn’s walls could talk.“It used to be a speakeasy,” Wolfson says, adding that church services were also once held in the ballroom.Wolfson is marketing the coastal retreat to locals and buyers throughout California.“There’s been a lot of people coming to the area,” she says. “We’ve seen an influx of people coming from inland because of the fires. And with remote access to their job, they can live anywhere.”Located in Mendocino County, Fort Bragg is about 160 miles north of San Francisco. The inn is steps from Glass Beach, the famed Skunk Train, and downtown.“It attracts a nature-oriented person,” Wolfson says. “Because we’re so far removed [and do not have a commercial airport], we’re not so high in our prices as Monterey and Santa Cruz.”She suspects a buyer would want to continue renting out the inn.“It’s definitely a viable business,” she says.The post Be an Innkeeper by the Sea With This Coastal California Victorian for $1.5M appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comAlmost as famous as its well-known architect designer, a remarkable home in New Canaan, CT, has hit the market for $4.7 million.Built in 1959, the fully renovated, four-bedroom house has quite the storied history.Dubbed “The Celanese House,” the 4,427-square-foot dwelling was originally designed by renowned architect Edward Durell Stone. The house was commissioned by the Celanese Corporation—a chemical manufacturer—as a novel way to showcase their products.“Celanese Corporation interviewed two architects back in 1957 to commission a store that they were going to use to display their houseware,” says listing agent Melissa Rwambuya, of William Raveis. “One of those architects was Frank Lloyd Wright and the other was Edward Durell Stone.”Stone’s other works have included Radio City Music Hall and the Museum of Modern Art in New York City, the New Delhi Embassy, and the John F. Kennedy Center for the Performing Arts.”Living areaRealtor.comBack from the brinkTwo years after its construction—and when Celanese’s promotional campaign came to an end—the home sold in 1960 to a family who lived there until 2005.“It was in major disrepair at that point,” Rwambuya says. “And there was an interim owner who purchased the home and tried to bring it back to its original glory. In 2008, my seller bought it for $4.1 million and did all sorts of upgrades. They installed white oak floors, upgraded all of the electric, tore out the kitchen, and installed super high-end appliances. The home now has incredible fixtures.”Indeed, the stylish kitchen boasts a Gaggenau five-burner, gas cooktop; Subzero and Wolf appliances; and a new skylight.KitchenRealtor.comHigh-minded designIn keeping with the midcentury modern design, the sophisticated abode was designed to welcome in lots of natural light.“There are 12 pyramids on the roof that are skylights,” Rwambuya says. “They reflect light throughout the home in the most incredibly magical way.”PyramidsRealtor.comThe home’s exterior is equally prominent, with its distinctive facade.“It has this incredible lattice structure that looks like the house is beautifully wrapped,” Rwambuya notes.ExteriorRealtor.comThe sleek interior was designed to seamlessly combine form and function. For example, a welcoming entry greets guests with a conversation-worthy, underlit floor.EntryRealtor.comThe spectacular living area features a wall of windows that opens to the private backyard.“The all-glass back wall overlooks a beautiful meadow, which is just breathtaking,” Rwambuya says.A nearby library is lined on opposite walls with floor-to-ceiling, built-in bookcases.LibraryRealtor.comThe minimalist primary bedroom looks out through glass doors to the backyard. And the connected bathroom boasts high-end bath and faucet fittings, a glass-enclosed shower, a dual-sink vanity, and soaking tub.BedroomRealtor.com“The pictures don’t do the home justice,” Rwambuya says. “Oenoke Ridge is one of the most prestigious areas in New Canaan, which is an amazingly quaint Connecticut town. It attracts a lot of people from New York City due to its premier school system that is one of the top in the country.”Rwambuya says she can envision various potential buyers.“I showed it to a couple from Europe who has two little girls, and they were attracted to this type of architecture,” she says. “I also wouldn’t be surprised if a buyer from overseas bought it sight unseen. People really admire this type of architecture and know a lot about the midcentury movement. It really is like buying a Picasso.”The post Extraordinary Midcentury Estate Finds Form and Function in Connecticut for $4.7M appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comWith the grand coronation of King Charles III (finally) taking place in Britain over the weekend, our thoughts turned to royal accommodations—specifically castles, with their turrets, tapestries, and stone fireplaces.You don’t need to live in Europe to enjoy these old-world luxuries. Here in the good ol’ USA, there are plenty of dwellings that are royally inspired.And you don’t even have to pay a king’s ransom to live in one. We found five for your viewing pleasure, all priced below $950,000.So between viewing the royal pomp and circumstance in jolly old England, you might want to take a few minutes to browse the regal residences available in the United States.25 Antelope Run, Silver City, NMPrice: $780,000Spanish style: The Brits aren’t the only ones with castles. There was castle-dwelling aristocracy throughout Europe, and here’s an example of a modern one inspired by the castles of Spain. Set on 5 acres, this 2010-built home has views of Pinos Altos and Silver City.With three bedrooms and two baths in 3,234 square feet of living space, this castillo (Spanish for “castle”) features a fireplace big enough to roast game, should you be so inclined, and a hobby room that could serve as a chapel, the listing notes.The rest of the house is distinctly modern, with tiled floors and a kitchen with stainless-steel appliances and a large island.Silver City, NMRealtor.com———238 Springmeadow Way, Red Feather Lakes, COPrice: $525,000Gothic gem: A combination castle and chalet, this stone dwelling must have been built by an artist with a regal sensibility. Known as Owl Studio, the property consists of two separate structures, both eco-friendly and constructed from wood and stone.Their gothic architecture features pointed arches on the doors and windows. The two-story tower offers 360-degree views, a half-bath, and rough-ins for a shower and a kitchen. It will need to be finished and furnished.The chalet structure has a dramatic stone fireplace and a cozy sleeping loft. Together the unique dwellings could be developed into a short-term rental, an art or podcast studio, or a wellness retreat and yoga studio.There’s plenty of room for more structures on the 6-acre lot high in the mountains, not far from Fort Collins.Feather Lakes, CORealtor.com———13857 Marine Dr, Orlando, FLPrice: $899,900Castle by the lake: This landmark residence was built in 2007 on the shores of Lake Mary Jane and comes with a private pier.The 3,027-square-foot home with four bedrooms and 3.5 baths was bestowed two titles: Knightsbridge Manor and the Castle in the Pines. It features wood-clad barrel ceilings, a stone staircase, and a solid walnut front door with iron hardware.The lot measures a third of an acre and features a fire pit and a newly built chicken coop. (Egg-laying chickens are included in the sale.) This castle is said to be the jewel of the amenity-filled, lakefront community known as the Isle of Pines.Orlando, FLRealtor.com———308 S Washington St, Van Wert, OHPrice: $695,000Oh my, Ohio! This castle-inspired Victorian was built in 1898 in this quaint town about 77 miles southwest of Toledo.With six bedrooms and three baths in 4,316 square feet of living space, the stately home near the center of town is just brimming with possibilities. It could be used as a family home, an events venue, or a charming bed-and-breakfast. The formal dining room, exquisitely outfitted kitchen, and the parlors with fireplaces lend themselves well to any of these options.We’re particularly enamored with the carved-wood detailing, the picturesque reading nook, and the handy butler’s pantry.Van Wert, OHRealtor.com———1353 E Lake Dr, Novi, MIPrice: $935,000Contemporary castle: Located in Walled Lake, this 2004-built manor boasts water views from many of its rooms.The grounds span two parcels with a pond and fountain in back. The upscale home has four bedrooms and four baths in 2,241 square feet of living space. A grand spiral staircase connects its three levels.The open floor plan includes a spacious kitchen with a large island and breakfast nook and a finished basement with a bar and a powder room.The property is close to hiking and biking paths, as well as boating facilities and accommodations for the royal barge.Novi, MIRealtor.comThe post Bend the Knee: 5 Coronation-Worthy Castles in America Under a Million Bucks appeared first on Real Estate News & Insights | realtor.com®.

Photo-Illustration by Realtor.com; Source: Getty ImagesMortgage rates slipped lower this week, even as the Federal Reserve announced it was implementing an additional interest rate hike to curb ongoing inflation.Interest rates for a 30-year fixed mortgage averaged 6.39% in the week ending May 4, Freddie Mac announced on Thursday. That’s only fractionally lower than 6.43% last week, but many expect mortgage rates to fall even lower later this year.But even with the most recent tick down, rates are still high enough to make homeownership too expensive for many Americans. What’s more, many economists increasingly believe the central bank’s unrelenting rate hikes—10 since March 2022—have been detrimental to the economy, especially in the wake of the most recent bank failure of First Republic.“The latest interest rate hike by the Federal Reserve is unnecessary and harmful,” said National Association of Realtors® Chief Economist Lawrence Yun in a statement after the Fed meeting on Wednesday.“Consumer price inflation has been decelerating and will continue,” explained Yun. “There is significant additional monetary policy tightening already occurring.”And given the banking system is on shaky ground right now, Yun worries that the Fed might have gone overboard.“The fast rate hikes by the Fed have upended the balance sheets of many small regional banks,” he continued. “They are becoming zombie-like banks, unable to lend even to good businesses as they are more concerned with balance sheet shuffling for survival.”Might this also mean that these zombie banks can’t dish out as many home loans to eligible buyers?Here’s what housing statistics and experts are saying in our latest installment of “How’s the Housing Market This Week?”Why mortgage rates remain a ‘wild card’With the economy in turmoil and mortgage credit becoming more difficult to obtain, the housing market remains in a sort of petrified limbo.“Mortgage rates remain a big wild card for buyers and sellers as they are highly sensitive to incoming data and recent developments in the banking sector,” said Danielle Hale, chief economist for Realtor.com®, in her weekly analysis. “Amid all of the economic and financial swirl, which may worsen in the weeks ahead as the U.S. approaches the debt ceiling, the housing market continues to chug along at relatively low levels of activity.”All that, and home prices still haven’t stopped climbing: For the week ending April 29, listing prices inched up 2.4% compared with last year. And with the median price of homes hovering at $430,000 in April, it’s no surprise that homebuyers are weary and leery of overextending themselves financially.Why home sellers are plagued by ‘rate lock’High mortgage rates continue to cast a shadow not only over buyers, but sellers as well.A recent Realtor.com home seller survey found that 82% of prospective sellers are worried about “rate lock,” or having to trade in the ultralow rate on their current home for a much higher one if they were to sell and then try to buy.For the week ending April 29, 22% fewer new listings hit the market compared with this same time period a year earlier. This downward trend has been going on for a whopping 43 weeks, roughly the same period that the Fed has been raising rates.And for almost the same amount of time, homes have sat on the market longer, lingering 18 days longer for the last week of April than a year earlier.“The 2023 housing market is far from the frenzy experienced over the past two years,” Hale noted. “In other words, sellers do not have all the advantages the way they did over the past two years, but they are still in a very good position.”Buyers, maybe not so much.Still, Hale takes a glass-half-full view: “Even if market momentum continues to lag behind the past few years,” she said, “the weeks ahead hold plenty of seasonal opportunity for buyers hoping to see some new options.”The post Mortgage Rates Just Lurched in a Shocking Direction: What This ‘Wild Card’ Means for Real Estate appeared first on Real Estate News & Insights | realtor.com®.

Getty Images / Realtor.comThis notable Los Angeles estate has rebounded onto the market—with yet another price reduction.Built for basketball legend Wilt Chamberlain, the massive dwelling is taking another shot at attracting a buyer.The enormous, five-bedroom residence was listed for $19 million in 2018 and bounced back last year for $14.9 million. Now, it has returned at $11,995,000—a 37% discount on the original price.Architect David Rich designed this special retreat for Chamberlain in 1971. But it was remodeled in 2008 by owner Dmitri Novikov, who souped up the kitchen with stainless appliances and modified the lower level to include guest bedrooms and a media room.Dubbed the Big Dipper, Chamberlain once kicked back and relaxed in this gorgeous space. Have a look at the luxury!Built in 1971Realtor.comView of the waterRealtor.comLiving roomRealtor.comDining areaRealtor.comDenRealtor.comKitchenRealtor.comSpread over 9,300 square feet and inspired by the designs of Frank Lloyd Wright, this one-of-a-kind home is tucked behind massive gates and sits atop a high, rocky cliff.Maximum privacy is all but assured, as the 2.5-acre property sits at the end of a cul-de-sac. Verdant gardens of lush plantings are also part of the extravagant package.Gorgeous views of the ocean and Stone Canyon reservoir are nearly as jaw-dropping as the five-story living room inside. This glass and stone, brutalist castle contains 200 tons of stonework and offers every modern amenity, including a media room, billiard room, home gym, sauna, outdoor kitchen, and tons of space to entertain.But perhaps the most stunning aspect of this home—and one that can’t be replicated elsewhere, since codes have changed and it’s no longer allowed—is the swimming pool. This body of water actually surrounds the house and flows into the living room!Also of note: The front door is 14 feet high and tips the scales at 2,000 pounds.Primary bedroomRealtor.comMain bathroomRealtor.comAn airy room, perfect for entertainingRealtor.comSpace for billiardsRealtor.comA covered deckRealtor.comChamberlain, who died in 1999, joined the NBA in 1959 and starred for for 14 seasons. He still holds the record for the most points in a single game—100, in 1962.The post Wilt Chamberlain’s L.A. Mansion Bounces Back Onto the Market With Another Big Price Cut appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comProving that things are not always what they appear to be, a megamansion in Newcastle, OK, is this week’s most popular listing on Realtor.com®.The exterior of the massive, 16,841-square-foot estate might not look like anything special, but wait until you see the interiors. Decked out in true ’90s style, they feature granite columns, illuminated built-ins, three bars, a fitness center, and glass-block walls. Built in 1999, this time capsule has retained much of its original design.Other real estate offerings that made the popularity list include a former school supply store in Illinois, an Arts and Crafts house in Pennsylvania, and the most expensive listing in Nebraska with its very own chapel.For a full look at this week’s 10 most popular homes, keep on scrolling.10. 4623 Serenity Point Rd, Wilmington, NCPrice: $2,649,000Why it’s here: This exquisite waterfront estate was custom-designed to showcase the spectacular views from Masonboro Island to the Atlantic Ocean. The four-bedroom home located in Serenity Point was designed by local architect Kevin Pfirman and built by Lucien Ellison in 2016.Blending with the natural landscape, the bright house features floor-to-ceiling windows throughout its 3,245 square feet of living space.  The floor plan includes a wraparound deck, screened porch, and third-story bar for family and guests to drink in the surroundings. The primary suite comes with a private terrace.The home is pending sale.Wilmington, NCRealtor.com———9. 9307 Lincoln Ave, Brookfield, ILPrice: $289,900Why it’s here: In the 1950s, this property was reportedly the school supply store for Gross Middle School.Originally constructed in 1927, the building was transformed in 2012 into a residential dwelling with one bedroom and 1.5 bathrooms. The affordably priced brick structure boasts an open floor plan and a cozy, 1,158 square feet of living space.There are 10-foot ceilings and heated flooring. The family room has an exposed-brick accent wall, and the chef’s kitchen is equipped with a stainless-steel counter and a commercial-grade gas stove.A sliding glass door in the kitchen opens to a spacious patio and fenced yard. The property is pending sale.Brookfield, ILRealtor.com———8. 1401 School St, Indiana, PA Price: $309,000Why it’s here: This Arts and Crafts house built in 1925 is a “treasured property,” the listing notes.The four-bedroom, 3,014-square-foot home features an open floor plan. The living room has a gas fireplace, and the great room comes with built-in shelves and cabinets. The cute kitchen offers granite countertops, many cabinets, and a built-in table. Three bedrooms, including the primary, can be found on the main level. Upstairs, there’s a fourth bedroom with a kitchenette.The property includes a three-car, detached garage. A sale is pending sale.Indiana, PARealtor.com———7. 23 Double Oak Dr, Broken Bow, OK Price: $333,000Why it’s here: This to-be-built, tiny cabin sits in The Grove, a community of homes constructed from shipping containers. (It takes just eight weeks to custom-build one of these petite properties to your liking, and there are three floor plans to choose from.)This one-bedroom domicile offers just 320 square feet of living space. The modern interior features built-in tables and shelves, and the fully equipped kitchen includes a bar area. The bright bedroom has a sliding barn door, and the compact bathroom features a walk-in shower.Bonus: There’s a 20-foot rooftop deck.Broken Bow, OKRealtor.com———6. 1701 Morningside Dr, Alice, TX Price: $465,000Why it’s here: With its wrought-iron rails, beautiful tiling, and custom wood doors, this Texas home takes inspiration from an Italianate villa.Affordably priced, the three-bedroom abode spans 3,889 square feet. There are four full bathrooms, including the primary bath featuring a rainfall shower. The primary suite also comes with a fireplace and a sitting area. The newly installed bar area was designed for entertaining.The half-acre backyard features an in-ground pool.Alice, TXRealtor.com———5. 6300 Dodge St, Omaha, NEPrice: $5,250,000Why it’s here: This historic, Georgian-style mansion is the most expensive listing in Nebraska, and it comes with its own chapel.The nine-bedroom estate was built in 1907 and offers 10,039 square feet of living space. Historic details include the library with a marble fireplace, the wood-paneled dining room, and the living room equipped with built-ins. The enormous center staircase features rich wood and handcarved details. There are 9-foot ceilings with ornate details throughout the mansion. Other luxury amenities include a breakfast room, library, solarium, and elevator.The 3.7-acre lot includes a 1,652-square-foot carriage house, complete with a roof deck.Omaha, NERealtor.com———4. 9349 Cardiff Loop Rd, Richmond, VAPrice: $300,000 (opening bid for auction)Why it’s here: This Tudor-style home offers views of Upper Lake Bexley.Built in 1975, the five-bedroom, 3,663-square-foot dwelling boasts a grand entry with a curved, wood staircase and a first-floor primary suite. The wood-paneled family room features a stone fireplace, and the living room has a brick fireplace and built-in bookcases. The second floor houses the remaining bedrooms, including a secondary suite.The property is being offered as is and is now pending sale.Richmond, VARealtor.com———3. Schoharie, NYPrice: $4,750,000Why it’s here: This custom-built, equestrian estate features every luxury amenity imaginable, including an indoor pool and spa.The spectacular stone home boasts a two-story living room with a floor-to-ceiling stone fireplace. The chef’s kitchen has an enormous center island and a stone hood over the cooking range.The 7,233 square feet of living space is equipped with smart technology and radiant-floor heating. The primary suite is located on the main level, and the en suite bedroom on the top level comes with a wet bar. A wine cellar, garden room, and additional bedroom can all be found on the lower level.The equine amenities include a 14-stall barn, 13 acres of fenced paddocks, tack rooms, an indoor arena with a viewing area, and an outdoor arena.Schoharie, NYRealtor.com———2. 29021 Bouquet Canyon Rd Spc 382, Santa Clarita, CAPrice: $200,000Why it’s here: This cheap castle was created by a Disney production manager, and it features an entry inspired by the movie “Titanic.”The two-bedroom home appears dramatic and larger than life, with fixtures that give it a” fun, theatrical feel,” the listing notes.The skylit kitchen includes a breakfast bar and a walk-in pantry. A “secret passage door” offers access to the primary bedroom, which features a Victorian-era design, handcrafted molding, a spacious closet, and a private balcony.The home is pending sale.Santa Clarita, CARealtor.com———1. 3900 N Grant Dr, Newcastle, OKPrice: $3,900,000Why it’s here: If you are looking for a throwback to 1990s style, do we have the time capsule for you!What you see on the outside is certainly not what you get on the inside of this sprawling, 16,841-square-foot mansion, which sits on 5 acres.The three-bedroom residence appears nondescript at first glance, but the interiors tell a different story. The granite columns and limestone floors found throughout the house pay homage to the ’90s in grand style. The two-story primary suite boasts an illuminated bed, a glass-block shower, a heart-shaped soaking tub, and even a “swim room.”The property offers views of the South Canadian River from nearly every room in the house.Newcastle, OKRealtor.comThe post An Oklahoma Mansion Decked Out in ’90s Style Is the Week’s Most Popular Home appeared first on Real Estate News & Insights | realtor.com®.

Realtor.comA restored and rarely available home known as a “super Eichler” in Walnut Creek, CA, flaunts an amazing architectural pedigree.Listed for $1,995,000, the 2,435-square-foot dwelling is in the North Gate subdivision, the last Eichler development in the East Bay.So, what is a super Eichler anyway?“They were on larger parcels and the houses were larger,” says  Thomas Westfall, of Compass. “All of them had four bedrooms—if not five, even six.”Completed in 1969, the four-bedroom, 2.5-bath home was designed by Claude Oakland, “one of the most prolific [Eichler] architects,” says Westfall. “Joe Eichler was the developer.”Roughly 11,000 of these modest, midcentury modern, tract homes were designed and built between 1956 and the late 1960s, mostly in Northern and Southern California. As ranch-level dwellings, they feature atriums and range between 1,300 and 1,500 square feet.This home is one of just five super Eichler designs in the East Bay. The extra-large floor plan and cheery, yellow decor made the listing a magnet for vintage-home enthusiasts.And within a week, multiple bids were made. An offer was accepted, and the property is listed as pending sale.“There is definitely a following of people who want to live in an Eichler,” Westfall says.In 2004, the sellers—who previously lived in another Eichler home—snapped this one up for $720,000. After almost 20 years and major restorations, they are now letting it go.The sellers added an insulated, foam roof to improve heating and cooling efficiency. There’s also a new boiler, updated electrical system, flooring, and custom closet doors.The sellers “did all of the landscaping, including irrigation, accent lighting, and paving,” says Westfall. “They [also] remodeled the bathrooms and the kitchen and replaced the interior doors with solid-core doors, as well as heightened and lightened them.”The listing includes an attached, two-car garage.EntryOpen Homes PhotographyLiving roomOpen Homes PhotographyKitchen and adjacent outdoor dining areaOpen Homes PhotographyFireplaceOpen Homes PhotographyDenOpen Homes PhotographyOne of the bedroomsOpen Homes PhotographyOne of the bathsOpen Homes PhotographyStandout spaceThe super-sized Eichler design has what’s known as the “H Plan” layout, a truly notable style.“It’s the only Eichler with the double-door entrance and the only atrium, I’m aware of, that is more than 500 square feet,” says Westfall. “That’s the whole Eichler philosophy—bringing the outdoors in.”Nearly all rooms open to the outdoors via sliding-glass doors.The prospect of living in Walnut Creek is a major draw for buyers.“It has some of the highest-rated schools in the Bay Area,” Westfall notes. “It’s like the Palo Alto of the East Bay. There’s a downtown with shopping, nice restaurants, and the Apple Store. North Gate is very walkable.”The post Coveted ‘Super Eichler’ Home in California’s East Bay Nabs Offer Within Days appeared first on Real Estate News & Insights | realtor.com®.