Each week, our survey of recent residential sales in New York City and the surrounding region focuses on homes that sold around a certain price point, allowing you to compare single-family homes, condos and co-ops in different locales.

The “list price” is the asking price when the property came on the market with the most recent broker. The time on the market is measured from the most recent listing to the closing date of the sale.

Brooklyn | 2 bedrooms, 2 baths

$1,275,000

395 South Second Street, No. 6, Williamsburg

A 1,226 square-foot duplex condo, with a combined living and dining room with 14-foot ceilings, an open kitchen with a breakfast bar, two terraces and a balcony in a 16-year-old non-doorman walk-up building.

7 weeks on the market

$1,195,000 list price

7% above list price

Costs $439 a month in common charges; $28 a month in abated taxes

Listing broker Bond New York Properties

New Jersey | 6 bedrooms; 4 full and 2 half baths

$1,500,000

945 Lawrence Avenue, Westfield

This 69-year-old, 5,530-square-foot house has a formal dining room, a kitchen with granite counters, a mud room, a bluestone patio with a fireplace and a walkout basement on about a half-acre.

52 weeks on the market

$1,699,000 list price

12% below list price

Costs $24,755 a year in taxes

Listing broker Coldwell Banker

Connecticut | 4 bedrooms, 3½ baths

$1,462,000

19 Grove Point Road, Westport

A 3,171-square-foot house, built in 1906, with a family room that has a vaulted ceiling and a gas fireplace, a kitchen with exposed brick and black appliances, and a finished attic on 0.37 acres.

10 weeks on the market

$1,300,000 list price

12% above list price

Costs $12,442 a year in taxes; $275 a year in homeowner association fees

Listing broker Berkshire Hathaway HomeServices New England Properties

Long Island | 5 bedrooms, 3 baths

$1,200,000

781 Wilson Court, North Woodmere

A 58-year-old, 2,623-square-foot, split-level-style house, with a living room that has skylights, a kitchen with granite counters and a breakfast bar, and a patio, on 0.16 acres.

14 weeks on the market

$1,250,000 list price

4% below list price

Costs $13,824 a year in taxes

Listing broker Douglas Elliman

Westchester | 5 bedrooms, 4½ baths

$1,435,000

614 Monterey Avenue, Pelham

This 98-year-old, 2,907-square-foot house has a living room with a fireplace and French doors, a kitchen with a range-topped island, a bluestone deck and central air-conditioning on 0.22 acres.

13 weeks on the market

$1,435,000 list price

0% above list price

Costs $32,946 a year in taxes

Listing broker Julia B. Fee Sotheby’s International Realty

Manhattan | 1 bedroom, 1 bath

$1,375,000

175 West 12th Street, No. 17H, West Village

This 810-square-foot postwar condo has parquet floors, a combined living and dining room with picture windows, and a windowed galley kitchen in a doorman elevator building.

40 weeks on the market

$1,435,000 list price

4% below list price

Costs $637 a month in common charges; $826 a month in taxes; $795 a month in special assessments through Nov. 2021

Listing broker Compass

For weekly email updates on residential real estate news, sign up here. Follow us on Twitter: @nytrealestate.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

By Gerrett Snedaker, CRB

In mid-March 2020, the COVID-19 pandemic was declared and all parties were told to “Shelter in Place.” This basically shut down the residential real estate industry through the month of April 2020. The market then accelerated rapidly in May through October. Year over year statistical comparisons are therefore going to be skewed by these market aberrations created last year.

North Bay real estate trends for June 2021

For all of the areas covered by our Multiple Listing Service (BAREIS), which includes Lake, Marin, Mendocino, Napa, Solano and Sonoma counties, there is an inventory of 1,871 homes and condominiums for sale at the end of June.  Inventory is 35 percent below that of a year ago (2,892) and it is 4 percent ahead of the inventory last month (1,804). At times, the inventory has exceeded 10,000 homes in the BAREIS region. There were 1,991 sales for the month of June.  This number is 5 percent below a year ago (2,096) and 5 percent ahead of the pace of last month (1,893).

On a national basis – there were 373,000 homes for sale at the end of June compared to 976,000 a year ago. A “healthy/balanced” market might have 1,000,000 homes and a “buyers’ market” would require about 1,500,000 available homes. Of all new listings, 25 percent sell “immediately” and 75 percent last a week or two. Of major concern is where the seller is intending to go and are they prepared for a quick sale. Prices normally peak in July and stay level through January. National forecasts predict increasing inventory and a slowing of price appreciation in the coming months and into 2022. We’ll see if this happens in Wine Country.

I have been following a data point I call the “Price Reduction Ratio” for the past six months, or so. Across the country, one might expect that 20 to 25 percent of the homes put into the MLS will have a price reduction before they eventually sell. For June 2021, of all closed homes in our Wine Country markets, the range was from 11 percent (Mendocino County) to 18 percent (Napa County). Conversely, the ratio of homes selling in excess of Original List Price ranged from 54 percent (Mendocino) to 60 percent (Sonoma County).  It was 56 percent in Napa County. The average Price Reduction Ratio for all areas has gone from 29 percent in September 2020 to 14 percent in June of 2021 while the sales of homes in excess of Original List Price went from 33 percent to 57 percent over the same period.

Mendocino County: The inventory of homes and condominiums available in Mendocino County at the end of June stands at 145. This is 29 percent below the inventory in June 2020 (204) and it is 3 percent above the inventory last month (141). New sales (83) in Mendocino County in June were 15 percent below the pace of June 2020 (98) and they were 22 percent above the pace last month (68). There now is a 1.7 months supply of inventory in Mendocino County based on the existing sales pace. The average Days on Market for the 66 homes sold in Mendocino County in June is 54 days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the homes closed in June in Mendocino County was $570,000. This is 32 percent ahead of the median price in June 2020 ($433,000).  Mendocino County homes are in high demand with prices rising quickly.

Ukiah: The inventory of homes and condominiums for sale at the end of June in Ukiah is 26 homes. This is 21 percent below the level of June 2020 (33) and it is 15 percent below the inventory last month (30). There were 27 new sales for the month of June. This is 18 percent below the number of sales in June 2020 (33) and it is 42 percent above the sales last month (19). There is now one month of inventory based on the current sales pace. The Days on Market for the 22 closings last month was 38 days. The median price of the homes sold in Ukiah in the past year has ranged from $370,000 to $505,000. The median price was $514,000 for the homes that closed in June.

Hopland and Talmage: The inventory of homes and condominiums for sale at the end of June in Hopland and Talmage is three homes. This compares to 10 homes in inventory at the end of June 2020 and nine homes in inventory last month.  There were four new sales for the month of June. This compares to five sales in June 2020 and five new sales last month. There were four closings in the Talmage-Hopland market last month with an average days on market of 37 days.

Redwood Valley and Calpella: The inventory of homes and condominiums for sale at the end of June in Redwood Valley and Calpella is 14 homes. This is 18 percent below the level of June 2020 (17) and it is 22 percent below the inventory last month (18). There were 10 new sales for the month of June. This compares to seven sales in June 2020 and four new sales last month. There is a 1.4 months supply of inventory based on the current sales pace. The median price of the homes sold in Redwood Valley/Calpella in the past year has ranged from $400,000 to $655,000. There were four closings in Redwood Valley/Calpella in June at a median price of $642,000 and the homes sold in 36 days.

For additional information, please contact Gerrett Snedaker at 707-939-2009 or gsned@winecountrygroup.com

Gerrett Snedaker, CRB, is a Broker/Partner at Better Homes and Gardens Real Estate| Wine Country GroupMason McDuffie Commercial Real Estate.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

“House Party” is the official Realtor.com® podcast about the overlapping worlds of real estate and pop culture, hosted by Natalie Way and Rachel Stults. Click the player above to hear our take on this week’s hot topics.

We’re back to recap another episode of HGTV’s “Battle on the Beach,” and this time the three renovating teams are tackling the main bedroom.

Of course, there are several twists along the way, and our couples are getting increasingly snippy with one another. And, dare we say, we’re here for the drama.

But we might not be here for the winning team’s bedroom design. We’re calling this the show’s first flop—but what do you think? Click the player above to hear our recap, and then email us at podcast@realtor.com and let us know if we’re wrong!

Other topics we discuss on this week’s podcast:

• The steamy relationship status of our favorite real estate reality TV stars: Everybody’s getting cozy! Ty Pennington is engaged! “Selling Sunset” star Chrishelle Stause is reportedly dating her boss, Jason Oppenheim. (Insert “wow” emoji here.) Christina Haack‘s been vacationing with her new beau, and Jonathan Scott and Zooey Deschanel are still going strong.
• And we’ve got no winners but two celebrity real estate losers this week. That’s right—double the trouble!

Want more “House Party”? Subscribe on Apple Podcasts, Spotify, or wherever you get your podcasts. And please: Throw us a five-star rating if you like what you hear. The more good ratings and reviews we have, the easier it is for people to find us.

Want to chime in? Have your own crazy home-related story you’re dying to share? We’re all ears, eagerly waiting to discuss all of your burning real estate questions on “The Mailbox” segment. Email us at podcast@realtor.com, follow us on Facebook and Instagram, or tweet us @housepartypod on Twitter.

The post HGTV’s ‘Battle on the Beach’: Did the Right Bedroom Win? Plus, the Reality Star Romances You Won’t Believe appeared first on Real Estate News & Insights | realtor.com®.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

The commercial property sector is set to improve once Covid-19 restrictions are eased and the South African economy has navigated its way through the harshest of the pandemic’s impact, says commercial real estate agency Black Pepper Properties director Simon Black.

The office market has been heavily impacted on, compared to other property sectors; however, the full impact can be understood only once there has been a round of lease renewals over the next 12 to 18 months.

The Sandton central business district, in particular, is concerning, owing to the number of vacancies having reached record levels, which is compounded by a large number of occupiers looking to give up space, says Black.

Although the hospitality industry has also been severely impacted by the pandemic, it is difficult to assess the current impact on commercial real estate because of limited data, which, in turn, is limited, owing to a relatively low number of transactions.

However, it is expected that the commercial property sector, including the office market and hospitality industry, will improve.

“Once our infection levels subside and the easing of restrictions begins, we anticipate greater stability across prime office markets,” explains Black.

The prime office markets, in Gauteng, KwaZulu-Natal and the Western Cape, have suffered from a sharp supply-demand imbalance, widening vacancy rates and decreasing rents over the past year.

“With the first half of 2021 behind us, we are now able to review our successes and failures to stay the recovery road following massive global adversity,” he adds.

While the pandemic has not ended, businesses are putting plans in place to ready themselves for the expected surge in activity once the easing of lockdowns starts.

“I think what Covid-19 has enhanced is the use of space and opened possibilities that were previously unattainable,” Black says.

The recent violent devastation of property in Gauteng and KwaZulu-Natal is yet fully quantifiable. However, there may be a flurry of market activity as distribution and retail operators look to reopen supply chains and get back to business as usual, Black adds.

Trends in Real Estate Sector

Office environments that provide flexibility are likely to benefit, as well as those in preferred locations, as a more distributed workforce will need convenient, centralised meeting points.

While trends, such co-working and e-commerce, have been available for years, it has become evident that increased flexibility is possible across all real estate sectors, he adds.

The pandemic has forced business to learn and adapt, “for example, increased demand for last-mile logistic facilities is foreseen as online retail continues to develop, with underperforming office and retail assets being converted to cater for these inner-city hubs”, Black explains.

Some malls, which have been negatively impacted on by the pandemic, could be turned into mini-hubs for logistics operators.

Black explains there are many logistics real estate opportunities in Gauteng, KwaZulu-Natal and the Western Cape. There have also been recent approvals and upgrades to various ports systems, which bode well for improved capacity and efficiencies across South Africa.

The need for warehouse space and facilities that process goods for e-commerce is also expected to increase. Companies have to build regional supply chains, owing to the rise in e-commerce.

Self-storage is also in demand, especially when offering secure, temperature-controlled amenities.

There is also a large increase in demand for data centres, as a result of an increasing number of people working remotely and businesses migrating to cloud-based solutions.

Demand for data centres and towers – the infrastructure that stores and carries data – has increased significantly, owing to reliance on telecommunications and work-from-home initiatives, he says.

“Companies, such as multinational professional services network Deloitte, have made remote working a permanent feature for at least some of their workers. Consumer behaviour has been changed, possibly irrevocably, with neighbourhood centres and leafy suburban office parks likely to make a strong run,” says Black.

Additionally, the changing requirements for office space, including ageing buildings and outdated floorplate designs, may result in the increased implementation of green building initiatives. This change may affect future rentals and office sector returns.

“It is anticipated that best-in-class office buildings will be more focused on physical and mental wellbeing by offering direct access to green spaces, such as the provision of gardens, sanctuary spaces, such as wellness rooms where occupiers can disconnect, focus or reconnect with themselves,” explains Black.

These new office concepts can, in turn, lead to the development of mixed-use urban locations.

Digitalisation

A change in all real estate markets is the digitalisation of information. It is being adopted because outdated information technology, along with limited transaction volumes, has hindered property valuations during the first wave of infections.

“In the long term, increased use of digital channels across all real estate sectors will increase market transparency, as well as market efficiency,” says Black.

While uncertainty currently reigns, market leaders may discover the next frontier of profitable real estate trends by employing a range of creative ideas.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

Kyiv, Ukraine, July 28, 2021 –(PR.com)– DGY is a real estate investment company that helps businessmen become successful investors. Having an impressive expertise in real estate, they have collected the most relevant information about the latest trends of real estate in Ukraine and explained why it is worthwhile to invest in properties in Ukraine in 2021.

There is a strong belief among investors that it is more profitable to invest in less developed countries because returns are higher in the long run compared to developed countries with stable economies.

According to real estate trends, Ukraine appears to be a very beneficial country. For example, it is clearly seen while comparing statistics of prices for property in other European countries. Thus, smart investors prefer to invest in residential complexes under construction as they can save a sufficient amount of money at early stages and, therefore, multiply the future profit from the apartments.

As it can be viewed, the cost of the property in Ukraine is relatively lower for investors, which makes it easier to purchase them and increase their worth. Thus, newly-built apartment prices in Kyiv increased 0.43% in the second quarter of 2020 (0.1% in real terms) to the US $930 per sq. m. (Delmendo, 2020). In contrast, the average price per square meter in Paris starts from $10,000, in Zurich from $12,000, and even reaches $16,000 in London. This comparison clarifies that property investment opportunities in Ukraine are far more affordable in terms of profit and initial investments for businessmen.

Moreover, Ukrainian real estate is a perfect option for investment as investors get the chance to receive a much higher Return of Investments (ROI). According to the Ukrainian central bank statements, developers keep optimistic forecasts for the Ukrainian real estate market. The research has shown that developers expect a double increase in housing prices compared to the start of 2021 (Datskevych, 2019).

Ukraine is becoming more and more attractive for abroad investors, and here’s why. The influx of tourists coming to Kyiv, the capital of Ukraine, is constantly increasing. The city has a lot of things which draw the attention of people all around the world. For example, Kyiv is considered to be one of the most greenish cities of Europe, combining a so-called “oasis” in the city with breathtaking views of the Dnipro river.

Moreover, Kyiv is full of historical places and architectural monuments that take you into another dimension. Tourists will also appreciate the vibrant life of the capital because the centre is full of nightclubs, karaoke, bars, and restaurants. Therefore, the demand for property, especially in the city centre, is always high. Investors should pay attention to investment opportunities Kyiv has.

Thus, the market findings state that the average cost for an apartment in a new construction building will start at $60k only. Such affordable prices allow businessmen to get a high annual revenue if they have tenants or get a yield of up to 15% from the property when selling it.

However, you can maximize the final price for the property if you flip it beforehand. Flipping is pretty profitable, especially if you easily deal with the properties and know how to fix them up properly. However, you may need a team of professionals to help you out with renovations.

The principle of this method lies in renovating the property, fixing stuff, changing interior design and layout, etc. Therefore, it will significantly increase the price of the apartment. No doubt, the revenue differs depending on the amount you have invested in flipping, the services of the construction crew you have possibly used, and so on. Nevertheless, the statistics show that the average profit from flipping varies from 5 to 20% of the apartment’s initial price (Datskevych, 2019).

As for housing market predictions for 2021, residential real estate will remain in high demand as property prices continue to rise. In terms of revenue, commercial real estate in Ukraine is quite profitable as well. As Kyiv becomes a huge megapolis, there’s a need to construct malls, shopping centres, business centres, etc.

For example, many commercial tenants tend to pay fees for the options like the right of first refusal in the office next door in order to hold those options. Look up the best prices on the Eastern European market, particularly in Ukraine, where 150 sq. meters will cost you around $2100, while the commercial property of the same area in Poland will be about $2700 (Delmendo, 2020).

All in all, Ukraine heads the top of European countries, where worldwide investors can easily invest their sums in Ukrainian property and multiply their return. Due to affordable prices for luxury apartments and attractive policies of the country, even beginner investors may start their financial journey and make a stable passive income in Ukraine with minimum risks.

If you want to save your time and effort during the investing process, contact DGY Investments. Our company specializes in finding the best property options on the market and making your investment profitable. No need to predict the market, compare the prices and calculate possible issues – our team of experts will do everything for you. DGY has a profound expertise in turning businessmen into successful real estate investors who easily make up to 15% of annual yield on property.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

Home prices in the United States have risen to unprecedented heights over the past year. In many housing markets across the country, double-digit annual gains are now a common feature.

But what about next year? What might house values due in 2022? While no one can answer this question with certainty, one recent housing market forecast predicts slower home-price growth in 2022 compared to this year.

Housing Market Forecast Predicts Cooling Prices

On July 15, the government-sponsored mortgage buyer Freddie Mac published its latest quarterly housing market forecast for the U.S. Among other things, the group predicted that home-price growth in the U.S. would “moderate” or slow down in 2022.

According to Freddie Mac’s housing market forecast, 2022 home value increases will be less than half of what we’ve seen this year.

Of course, this is all speculative in nature. House price and housing market forecasts are the equivalent of an educated guess based on current trends. Still, it’s noteworthy when some of the most knowledgeable housing analysts predict that home prices will rise more slowly next year. And that’s what we have in this forecast.

• In 2021, the researchers expect U.S. home prices to rise by an average of 12.1%.
• In 2022, their housing market forecast suggests that prices will rise by 5.3%.

In a sense, this kind of slowdown would represent a return to normalcy. If you look at U.S. home price trends over the past few decades, you’ll see that they tend to rise somewhere between 3% and 5% annually. The strong double-digit gains we’ve seen over the past year represent an anomaly driven by an overheated housing market. Such rapid home-price growth is generally unsustainable over the long term, as it prices many buyers out of the market.

A 5.3% increase in home prices (as predicted in Freddie Mac’s latest housing market forecast) would more closely reflect historical trends. It would be a more “normal” rate of growth.

Strong Demand, Short Supply Boosting Home Values

Freddie Mac’s latest housing market forecast also pointed out the major factors that are boosting prices. According to their report, rising home values in the U.S. are largely the result of (A) low mortgage rates increasing demand, and (B) a major shortage of supply.

To quote their report:

“High house price growth has been supported by increased demand due to low mortgage rates, disposable after-tax income that has risen during the current recession and a major shortage of housing supply relative to our population … But, we do forecast house price growth to moderate in 2022, with full year house price growth of 12.1% in 2021 followed by 5.3% in 2022.”

This is something we’ve reported on many times in the past. Low mortgage rates and several COVID-related factors have increased demand among home buyers in the U.S. Meanwhile, inventory levels within the housing market have been hovering at all-time lows. The supply situation was already tight going into the pandemic, and it only got tighter over the past year or so.

More recently, however, we have seen a reduction in home buyer demand as evidenced by sales data. The short version is that a lot of would-be buyers have become frustrated by the shortage of homes and the rapid rise of prices. Some have backed out of the market entirely.

Over time, this kind of demand reduction can cool the real estate scene and slow home-price growth. This could be why Freddie Mac’s housing market forecast for 2022 predicts smaller gains ahead.

A Bigger, Bolder Forecast Issued by Zillow

But not everyone sees a huge drop-off in home price growth as we move into 2022. A recent housing market forecast from Zillow predicted that house values could rise by double digits between now and summer 2022.

Granted, this particular forecast doesn’t cover all of 2022, like the Freddie Mac outlook cited above. But it’s worth noting all the same.

This month, Zillow predicted that the median home value in the U.S. would rise by around 13% between now and July of 2022. That would follow actual growth of around 15% during the previous 12 months.

According to a late-July statement on the company’s website: “United States home values have gone up 15.0% over the past year and Zillow predicts they will rise 13.2% in the next year.”

Real Estate Conditions Vary Greatly By Region

Real estate conditions can vary widely from one market to the next. In some of the hottest U.S. housing markets — such as Austin, Boise and Salt Lake City — prices have risen by more than 20% over the past year. In other cities and metro areas, growth has been much more moderate by comparison.

Consider the difference:

• Home prices in Austin, Texas rose by more than 30% over the past year, according to Zillow.
• In San Francisco, California, the median only rose by around 2% during the same timeframe.

So we’re talking about a wide spectrum here, in terms of annual growth rates. Every real estate market is different.

The same variation applies to housing forecasts for 2022. Some of the hottest markets across the country are expected to see double-digit annual price growth next year. Other areas could see a return to historically “normal” growth in 2022, in terms of house values.

This is why it’s so important for home buyers to conduct thorough and local research, before entering the housing market. While most cities across the country are currently experiencing a strong seller’s market and rapidly rising prices, conditions can vary greatly from one region to the next.

Prediction #2: Slightly Higher Mortgage Rates in 2022

Freddie Mac’s latest housing market forecast for 2022 also predicted a gradual rise in mortgage rates, between now and next year. By their estimation, the average rate for a 30-year fixed mortgage loan could rise to 3.4% by the end of this year and continue climbing into 2022.

As of last week, 30-year mortgage rates were averaging 2.78%. Freddie Mac’s forecast suggests they could rise to an average of around 3.8% by the end of 2022. That would be more than one percent higher than where we are now (assuming their predictions prove accurate).

From a home buyer’s perspective, a steady rise in house prices is the bigger concern. If home values in the U.S. continue to climb as they have in past months, more and more buyers could get “priced out” of the housing market. A slight and gradual rise in mortgage rates would be a lesser concern.

Disclaimer: This report includes housing market forecasts and predictions provided by third parties not associated with the publisher. The Home Buying Institute makes no claims about future real estate trends and conditions.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

A rendering of the building set to break ground at 3930 Blake St. in Denver. (Renderings courtesy of Wynne Yasmer Real Estate)

Denver has a lot of recently constructed apartment buildings, most of which look fairly similar.

But a new 16-story project about to break ground in RiNo is going to break the mold.

The building at 3930 Blake St., dubbed One River North, is set to feature a sort of haphazard gash on the structure’s northwest-facing facade filled with greenery.

Kevin Ratner

Kevin Ratner, co-founder of The Max Collaborative — one of four firms developing the project — said in a statement that the design is “influenced by Colorado’s legendary landforms” and “merges nature and architecture to inspire a well-balanced life.”

“Blurring the line between built and natural environments, the living structure features a carved core to resemble that of a slot canyon, comprising more than 13,000 square feet of open-air environments, undulating water elements and landscaping across four stories,” Ratner said. “Its glass façade is likewise ribbed with louvers that regulate sunlight and soften its visual presence, shaping a serene retreat in the sky.”

One River North is being developed by The Max Collaborative, Uplands Real Estate Partners, Wynne Yasmer Real Estate and Zakhem Real Estate Group.

The first two companies were formed by members of the founding families of Forest City Realty Trust, which was acquired by Brookfield Asset Management in 2018. Forest City led the redevelopment of the former Stapleton International Airport site in Denver.

Denver-based Wynne Yasmer, meanwhile, was founded in 2019 by Brian Wynne and K.C. Yasmer, who both previously worked for Forest City. And Zakhem Real Estate, also Denver-based, was the previous owner of the property, taking a minority stake as part of the 2019 sale to the current development team for $7.19 million.

“The living structure features a carved core to resemble that of a slot canyon,” according to its developers.

Chinese firm MAD Architects is the design architect for One River North. This is just the company’s second residential project in the United States. Davis Partnership Architects is the executive architect. Saunders Construction is the general contractor.

Wynne told BusinessDen that One River North is slated to have 187 units, and about 9,000 square feet of ground-floor retail space.

The project will likely break ground in early August, Wynne said. The industrial structure that was formerly at the site has already been demolished.

The area around the 38th and Blake station is one of the city’s predominant redevelopment hotspots, and the building at 3930 won’t be the only big apartment complex under construction nearby. McWhinney broke ground on its 17-story, 348-unit FoundryLine project at 3750 Blake St. in May.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

Low interest rates, steady homebuyer demand and a shortage of homes for sale created a hot housing market for Northern Utah during the first half of 2021, with the median sales price rising more than 20% for counties in the area.

Fortunately, one economist says conditions are expected to get a little better for buyers during the second half of the year.

The Utah Association of Realtors June 2021 housing report found that the median price of homes sold increased 25% statewide in the January-June period compared to the same six months a year earlier.

Locally in Weber County, the median sales price rose nearly 29% for the first half of the year compared to the first six months of 2020. In Davis County, prices increased about 24%, and Morgan County had gains of nearly 59%. Similarly, the median price in Box Elder and Salt Lake counties increased about 21%.

With the inventory of active listings falling anywhere from 40% to 60% locally, the lack of available housing is the reason prices are spiking.

U.S. home prices are also rising at unprecedented rates for similar reasons.

“We have never seen price appreciation of this magnitude,” said Lawrence Yun, chief economist of the National Association of Realtors, in a video about May U.S. existing home sales. He says the 24% year-over-year price appreciation in May is the “strongest ever.”

“The home prices are continuing to hit record levels,” Yun said. “Now with prices rising so much, it’s beginning to squeeze away some buyers.”

In fact, a Utah family making the median income only has 85% of what it needs to purchase the median-priced home at prevailing interest rates, according to the Utah Association of Realtors. That’s down from 109% last year.

These affordability challenges have hindered some buyers. For the first half of the year, Weber County home sales declined 11% compared to the same period a year earlier. Sales also fell about 13% in Davis County, about 47% in Morgan County and 2.5% in Box Elder County. Salt Lake County sales increased 4.5%.

A lack of available housing, especially at price points under $300,000, has also held back U.S. sales.

“The sales activity is clearly being hurt due to the affordability challenges and also the lack of inventory at the affordable price points,” Yun said.

Nevertheless, there are hopeful signs for would-be homebuyers, including Yun’s prediction that competition will not be as intense during the second half of the year.

“Given that the sales activity is coming down, we may be sensing some turn in the market,” Yun said. “We are seeing less prevalence of multiple offers.”

Yun is quick to point out, however, that there’s no doubt the market still favors sellers.

“It’s still a seller’s market, but people need to be very cautious about how they price their home to attract buyers knowing that the sales activities are declining somewhat,” Yun said.

Yun expects more inventory to come onto the market, making conditions calmer throughout the remainder of the year. In fact, Utah has already set a record in the first quarter for permitted residential units, according to the Ivory-Boyer Construction Report.

“It will still be a seller’s market, and first-time buyers will face some challenges on affordability product,” Yun said. “But calming of the market and less need for hurried decisions should be a welcoming trend.”

For more information about specific real estate trends in your own neighborhood, contact a local Realtor. Find a directory of Northern Wasatch Realtors at NWAOR.com.

Shauna Ray is president of the Northern Wasatch Association of Realtors.

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

Country

United States of AmericaUS Virgin IslandsUnited States Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth of theCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory South of 60 deg S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic ofBarbadosBelarusBelgium, Kingdom ofBelizeBenin, People’s Republic ofBermudaBhutan, Kingdom ofBolivia, Republic ofBosnia and HerzegovinaBotswana, Republic ofBouvet Island (Bouvetoya)Brazil, Federative Republic ofBritish Indian Ocean Territory (Chagos Archipelago)British Virgin IslandsBrunei DarussalamBulgaria, People’s Republic ofBurkina FasoBurundi, Republic ofCambodia, Kingdom ofCameroon, United Republic ofCape Verde, Republic ofCayman IslandsCentral African RepublicChad, Republic ofChile, Republic ofChina, People’s Republic ofChristmas IslandCocos (Keeling) IslandsColombia, Republic ofComoros, Union of theCongo, Democratic Republic ofCongo, People’s Republic ofCook IslandsCosta Rica, Republic ofCote D’Ivoire, Ivory Coast, Republic of theCyprus, Republic ofCzech RepublicDenmark, Kingdom ofDjibouti, Republic ofDominica, Commonwealth ofEcuador, Republic ofEgypt, Arab Republic ofEl Salvador, Republic ofEquatorial Guinea, Republic ofEritreaEstoniaEthiopiaFaeroe IslandsFalkland Islands (Malvinas)Fiji, Republic of the Fiji IslandsFinland, Republic ofFrance, French RepublicFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabon, Gabonese RepublicGambia, Republic of theGeorgiaGermanyGhana, Republic ofGibraltarGreece, Hellenic RepublicGreenlandGrenadaGuadaloupeGuamGuatemala, Republic ofGuinea, Revolutionary
People’s Rep’c ofGuinea-Bissau, Republic ofGuyana, Republic ofHeard and McDonald IslandsHoly See (Vatican City State)Honduras, Republic ofHong Kong, Special Administrative Region of ChinaHrvatska (Croatia)Hungary, Hungarian People’s RepublicIceland, Republic ofIndia, Republic ofIndonesia, Republic ofIran, Islamic Republic ofIraq, Republic ofIrelandIsrael, State ofItaly, Italian RepublicJapanJordan, Hashemite Kingdom ofKazakhstan, Republic ofKenya, Republic ofKiribati, Republic ofKorea, Democratic People’s Republic ofKorea, Republic ofKuwait, State ofKyrgyz RepublicLao People’s Democratic RepublicLatviaLebanon, Lebanese RepublicLesotho, Kingdom ofLiberia, Republic ofLibyan Arab JamahiriyaLiechtenstein, Principality ofLithuaniaLuxembourg, Grand Duchy ofMacao, Special Administrative Region of ChinaMacedonia, the former Yugoslav Republic ofMadagascar, Republic ofMalawi, Republic ofMalaysiaMaldives, Republic ofMali, Republic ofMalta, Republic ofMarshall IslandsMartiniqueMauritania, Islamic Republic ofMauritiusMayotteMicronesia, Federated States ofMoldova, Republic ofMonaco, Principality ofMongolia, Mongolian People’s RepublicMontserratMorocco, Kingdom ofMozambique, People’s Republic ofMyanmarNamibiaNauru, Republic ofNepal, Kingdom ofNetherlands AntillesNetherlands, Kingdom of theNew CaledoniaNew ZealandNicaragua, Republic ofNiger, Republic of theNigeria, Federal Republic ofNiue, Republic ofNorfolk IslandNorthern Mariana IslandsNorway, Kingdom ofOman, Sultanate ofPakistan, Islamic Republic ofPalauPalestinian Territory, OccupiedPanama, Republic ofPapua New GuineaParaguay, Republic ofPeru, Republic ofPhilippines, Republic of thePitcairn IslandPoland, Polish People’s RepublicPortugal, Portuguese RepublicPuerto RicoQatar, State ofReunionRomania, Socialist Republic ofRussian FederationRwanda, Rwandese RepublicSamoa, Independent State ofSan Marino, Republic ofSao Tome and Principe, Democratic Republic ofSaudi Arabia, Kingdom ofSenegal, Republic ofSerbia and MontenegroSeychelles, Republic ofSierra Leone, Republic ofSingapore, Republic ofSlovakia (Slovak Republic)SloveniaSolomon IslandsSomalia, Somali RepublicSouth Africa, Republic ofSouth Georgia and the South Sandwich IslandsSpain, Spanish StateSri Lanka, Democratic Socialist Republic ofSt. HelenaSt. Kitts and NevisSt. LuciaSt. Pierre and MiquelonSt. Vincent and the GrenadinesSudan, Democratic Republic of theSuriname, Republic ofSvalbard & Jan Mayen IslandsSwaziland, Kingdom ofSweden, Kingdom ofSwitzerland, Swiss ConfederationSyrian Arab RepublicTaiwan, Province of ChinaTajikistanTanzania, United Republic ofThailand, Kingdom ofTimor-Leste, Democratic Republic ofTogo, Togolese RepublicTokelau (Tokelau Islands)Tonga, Kingdom ofTrinidad and Tobago, Republic ofTunisia, Republic ofTurkey, Republic ofTurkmenistanTurks and Caicos IslandsTuvaluUganda, Republic ofUkraineUnited Arab EmiratesUnited Kingdom of Great Britain & N. IrelandUruguay, Eastern Republic ofUzbekistanVanuatuVenezuela, Bolivarian Republic ofViet Nam, Socialist Republic ofWallis and Futuna IslandsWestern SaharaYemenZambia, Republic ofZimbabwe

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here

Here’s your chance to live like Academy Award-winners in the Hollywood home of Helen Mirren and her director husband, Taylor Hackford. Interested parties can either buy—or try.

Their elegant estate is on the market for $18.5 million—or $45,000 per month if a lease is more appealing.

The Spanish-style estate is legendary for both its history and its location, sitting on the edge of famous Runyon Canyon. It’s a favorite dog-walking and hiking spot for some of Hollywood’s most rich and famous, including Mirren and Hackford.

Set on 6.5 acres, the property offers 10,199 square feet of living space shared between a main residence and a three-bedroom guesthouse. An estate of this size is a unicorn in this historic and popular Hollywood Hills neighborhood.

The Hollywood estate of Helen Mirren and Taylor Hackford

(Realtor.com)

Estate in Hollywood Hills

(Realtor.com)

“A residence of exquisite style and exceptional privacy, this remarkable compound abuts Runyon Canyon, at the top of a private winding drive with gorgeous landscaping, mature trees and Hollywood sophistication,” said Joyce Rey, who is listing the property with Stephen Apelian, both with Coldwell Banker Realty.

“With its celebrity pedigree, expansive grounds, and gracious indoor-outdoor design, this gated enclave is both a private sanctuary and a distinguished setting for lavish entertaining,” Rey continued.

___

Watch: We Want To Believe! Peek Inside David Duchovny’s $7.5M Manhattan Apartment

___

Brimming with Hollywood history, the estate was built in 1911. It’s has only had four owners over the past century, including Mirren and Hackford. It was constructed for Dustin Farnum, one of Hollywood’s first movie stars, who starred in Cecil B. DeMille‘s “Squaw Man,” the first feature film shot in Hollywood.

The journalist, columnist, and film producer Mark Hellinger, whose short story inspired “The Roaring Twenties,” starring Humphrey Bogart and James Cagney, purchased it from Farnum. Then came Gail Patrick, an actress who was also one of the first female producers, and was an executive producer on the original TV series “Perry Mason.”

Mirren and Hackford purchased the property, with its glittering views of Los Angeles and beyond, in the 1980s, and have enjoyed it ever since. It’s a sublime example of Old Hollywood architecture, restored and renovated.

The main residence spans 6,600 square feet, and has distinctive pops of color, with teal shutters, a red front door, and lavender wisteria when in bloom.

Front exterior

(Realtor.com)

Inside the home, the refined features include a grand staircase, a gallery above the double-height entryway, a cozy paneled bar, and French doors galore.

Grand entryway

(Realtor.com)

Paneled bar

(Realtor.com)

Living room with French doors

(Realtor.com)

There are also six fireplaces—even one in the kitchen, which also features a center island and a large butler’s pantry.

Kitchen

(Realtor.com)

The main residence has five bedrooms, one of them a spacious master suite with a fireplace, luxe bathroom, and a balcony with city views.

Master bedroom

(Realtor.com)

Balcony

(Realtor.com)

Outside, the manicured gardens include trees that are over a century old, a classic swimming pool, and a wide terrace for lounging, dining, and entertaining.

Pool and terrace

(Realtor.com)

In addition to a guesthouse, the five-car garage includes an office and apartment above. An entire entourage or extended family could be accommodated with ease.

Guesthouse

(Realtor.com)

Mirren and Hackford are ambivalent about letting go of their longtime love nest, according to the Wall Street Journal—which explains their “sale or rent” listing. They’re currently spending most of their time in a residence on the Nevada side of Lake Tahoe.

Hackford, 76, won an Oscar for his live-action short film “Teenage Father” in 1979, and then went on to direct “An Officer and a Gentleman,” “Against All Odds,” and the Ray Charles biopic “Ray,” which garnered him an Academy Award nomination for Best Director.

Mirren, 75, is an award-winning star of stage and screen. Among her numerous awards are an Academy Award (for her portrayal of Queen Elizabeth II in “The Queen”), four BAFTA Awards, three Golden Globe Awards, four Primetime Emmy Awards, and one Tony Award. She was most recently seen in “F9.”

>>> ad: Don't Miss Today's BEST Amazon Deals!
Originally Appeared Here