Monday, January 29, 2024 / by Richard Eimers
It’s not every day we see an A-lister involved in the marketing of their real estate, and yet actor Alec Baldwin has stepped in front of the camera to help sell his recently relisted estate in Amagansett, NY.
Last week, the three-time Emmy winner fronted a YouTube video in which he wistfully describes his fondness for the East Hampton hamlet and the homes he’s lived in there, most notably his 10-acre property on Town Lane.
Baldwin has been trying to offload his longtime Hamptons home since 2022. And recently, the five-bedroom, 10,000-square-foot property returned to the market for just under $19 million—$10 million less than the original asking price. The home has had several previous price cuts. In addition to the latest, lowest amount, Baldwin has also added his personal touch.
The video was published—and seemingly produced—by Saunders & Associates, the brokerage handling the sale of Baldwin’s estate. In the video, which currently has somee ...
Thursday, December 21, 2023 / by Richard Eimers
Discover the opulent world of rock-and-pop icon Rod Stewart as he lists his magnificent Beverly Hills estate for $70 million. This 28,500-square-foot mansion, nestled in the prestigious North Beverly Park neighborhood, offers unparalleled luxury.
Luxurious Features: The expansive great room boasts a hand-painted bar, French doors leading to a covered patio, and Versailles-like decor, designed by renowned architect Richard Landry. Indulge in the gourmet kitchen, tea room, and stunning den, complemented by intricate marble floors and ornate molding.
Enjoy a screening theater, tennis court, and outdoor spaces with fireplaces and barbecue, perfect for gatherings.
Elegant Living Spaces:
The primary suite features a spacious sitting area, balcony, and dual bathrooms with distinct aesthetics.
Global Icon's Farewell:
Rod Stewart, with over 250 million records sold worldwide, is bidding farewell in style, currently on a farewell tou ...
Monday, December 18, 2023 / by Richard Eimers
By Jessica Lautz
NAR also said 2024 will see stronger sales activity, calling it great news for buyers and sellers.
CHICAGO – For the first time since August, interest rates for a 30-year fixed mortgage have dropped below 7%, hitting 6.95% this week. This brings the monthly mortgage payment for a home priced at $400,000 to $2,118. This is down from a recent high this Autumn of 7.79% and yields a monthly savings of $183 and $2,196 annually for the same $400,000 home.
The Fed indicated yesterday they will hold the Fed Funds Rate steady for now and cut rates three times in 2024. This is all welcome news for potential home buyers and sellers, as mortgage interest rates will decrease. NAR forecasts that mortgage interest rates will average 6.3% in 2024.
While the lock-in effect of higher mortgage rates has stalled the real estate market in 2023, the momentum is moving in the right direction for stronger sales activity in 2024. Will it be a traditional Spring real estate market ...
Tuesday, December 5, 2023 / by Richard Eimers
By Jeremy Tanner
Lenders are offering free refinancing to get buyers into homes, but proceed with caution and read the fine print.
NEW YORK – Some lenders are getting creative and offering free refinancing to buyers willing to take the leap and purchase a house amid America's crushing combination of lofty home prices and high mortgage rates.
The selling point? It can be summed up by the real estate slogan that seems like it was created for 2023: "marry the house, date the rate."
Essentially, fall in love with your home, but remember that you can break up with your costly mortgage rate when you find a lower one in the future.
Mortgage rates retreated some in November but are still historically high, with the average rate on a 30-year fixed-rate mortgage at 7.22% as of Thursday, according to Freddie Mac. The last time they were this high was two decades ago.
Current conditions have created an incentive for lenders to find new ways of attracting buyers and driving business a ...
Tuesday, October 31, 2023 / by Richard Eimers
It’s a slight gain, but NAR’s chief economist says pending sales “remain at historically low levels.” Year-over-year, pending transactions were down 11%.
WASHINGTON – Pending home sales rose 1.1% in September, according to the National Association of Realtors® (NAR). Three of the four regions tracked – the Northeast, Midwest and South – posted monthly gains in transactions while the West saw a loss. Year-to-year, though, all four regions had transaction declines.
“Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” says NAR Chief Economist Lawrence Yun. “Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.”
The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – rose 1.1% to 72.6 in September. Year over year, pending transactions declined ...