Real estate
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Vacation home sales sizzle; rentals book up
In the kitschy community of St. Michaels on the Maryland shore, businesses are gearing up for the official start of the season: Memorial Day weekend. Trucks carrying dozens of bicycles unload into waterside racks and shopkeepers move their brightly-colored wares out onto the sidewalks. For real estate rental agents, though, the heavy lifting is mostly done. The biggest houses are already booked."T...
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US home builders feeling fairly upbeat
U.S. home-builder confidence in the market for single family homes rose in May amid rising home prices despite increasing building materials costs, an index showed on Wednesday.The National Association of Home Builders/Wells Fargo Housing Market index edged up three points to 44, from a downwardly revised 41 in April. Economists in a Reuters survey were expecting a reading of 43. Any number ov...
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Mansions in Gatsby country going cheap (relatively)
In Jay Gatsby's time, the mansions along Long Island's Gold Coast were famous for their excess and price tags. Now, they're more famous for their price cuts. Hit hard by the recession, the grand estates and megahomes lining the North Shore have seen price cuts of up to 50 percent. Inventory remains high and homes are sitting on the market for an average of six months or more, brokers say. Big...
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Celebrity real estate: Jillian Michaels lists LA home
This week in celebrity real estate, The Biggest Loser's Jillian Michaels listed her Los Angeles home, daughter of Ron Howard, Bryce Dallas Howard sold her house, and it was revealed that Reese Witherspoon bought the home next door to her spread in Brentwood.Jillian Michaels lists LA home in 2.45 millionFor sale: a home literally built on sweat and difficult workouts. Jillian Michaels, the raspy-vo...
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Housing's spring bloom 'stuck' because of tight supply
UPDATED 12:34 p.m. EDT -Like many things in the spring, housing supply is supposed to grow. That is because warmer weather and the convenience for families of moving during the summer make spring the busiest home-buying season historically. That is not the case this year. Home sales have been "stuck," according to Lawrence Yun, chief economist for the National Association of Realtors, because ther...
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New home sales rise; housing recovery on track
Sales of new U.S. single-family homes rose in March, indicating the housing market recovery remains on track. The Commerce Department said on Tuesday sales increased 1.5 percent to a seasonally adjusted annual rate of 417,000 units. Last month's rise followed a 7.6 percent drop in February. Economists polled by Reuters had expected sales to rise to 420,000-unit rate last month. Compared with March...
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Pending-home sales edged higher in March
Tight supplies of for-sale listings kept a lid on contracts to buy existing homes last March, a new survey said Monday.The Pending Home Sales Index from the National Association of Realtors increased 1.5 percent month to month. It is 7 percent higher than March of 2012. These numbers represent signed contracts, not closings, and are therefore an indicator of future final sales."Contract activity...
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Home prices rise by most in seven years
Single-family home prices rose more than expected in February, posting their best annual rise since May 2006 in a fresh sign the housing recovery remains on track, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 1.2 percent on a seasonally adjusted basis compared to January, topping forecasts for 0.9 percent. "Despite some recent...
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TODAY Chat: Advice for homebuyers and sellers
It?s a seller?s market in many parts of the country right now. That?s a big change from the past six or seven years. With buyers competing for the same property, home prices are going up. It?s a good thing mortgage interest rates are at historic lows.?If you want to get the home of your dreams, you need to be really serious,? advises real estate expert Ilyce Glink, author of the book Buy, Close, M...
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LA home includes aviary, sushi bar and private fire department
Mauricio Umansky has held the listing for Michael Jackson's final home, sold Lisa Vanderpump's massive mansion as well as the Wehba Mansion for $34.5 million. So when he says that he's never seen a property quite like Marmont Manor, you know the home must be unusual."This is the coolest property I've been at, from a 'cool factor' in terms of features," said Umansky, co-founder and CEO of The Agenc...
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TODAY Chat: Advice for anyone buying or selling a house
It?s a seller?s market in many parts of the country right now. That?s a big change from the past six or seven years. With buyers competing for the same property, home prices are going up. It?s a good thing mortgage interest rates are at historic lows.?If you want to get the home of your dreams, you need to be really serious,? advises real estate expert Ilyce Glink, author of the book Buy, Close, M...
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Taylor Swift pays cash for Rhode Island home
You know the record sales are doing well when there?s rumors you paid for your latest home in cash. This week in celebrity real estate, Taylor Swift reportedly picked up a home in Rhode Island, actor Vince Vaughn bought in La Canada Flintridge, and the original Ozzie and Harriet house hit the market.Taylor Swift buys oceanfront manse for $17 millionThis country girl has been digging the East Coast...
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Listing of the week: Suzanne Somers' resort-style estate
Undisclosed address, Palm Springs Calif.For sale: $14.5 millionFew homes are private enough for a deck-side soaking tub. But actress and spokeswoman Suzanne Somers' Palm Springs home sits atop a mountain, surrounded by 73 acres. On one of the many patios, a clawfoot tub sits surrounded by rocky outcrops, a gift, says listing agent Joyce Rey, to Somers from producer-husband Alan Hamel."She can take...
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When should you sell a rental property?
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Housing's spring bloom 'stuck' because of tight supply
UPDATED 12:34 p.m. EDT -Like many things in the spring, housing supply is supposed to grow. That is because warmer weather and the convenience for families of moving during the summer make spring the busiest home-buying season historically. That is not the case this year. Home sales have been "stuck," according to Lawrence Yun, chief economist for the National Association of Realtors, because ther...
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New home sales rise; housing recovery on track
Sales of new U.S. single-family homes rose in March, indicating the housing market recovery remains on track. The Commerce Department said on Tuesday sales increased 1.5 percent to a seasonally adjusted annual rate of 417,000 units. Last month's rise followed a 7.6 percent drop in February. Economists polled by Reuters had expected sales to rise to 420,000-unit rate last month. Compared with March...
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Study: Buyers of energy-efficient homes less likely to default
Eileen Ryan and Matt Cooper wanted their new house to be good for the environment and they were willing to pay a premium for it. They spent $350,000 to build their two-story, 2,000-square-foot energy-efficient house in Olympia, Wash., and they are happy they did.?It costs more to build an energy-efficient house, but it costs significantly less to live in one,? Eileen explained.Their energy bills t...
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Wooded castle for sale in the Pacific Northwest
28523 Bacus Road, Sedro-Woolley, Wash. For sale: $1.395 millionThe stone castle in the middle of a forest clearing looks like something out of the pages of a Grimm fairy tale."What's so striking to me, you come to this pedestrian gate and there?s this bridge across the creek which makes it like a real moat," said listing agent Jean Groesbeck of Coldwell Banker Bain."The water runs through the cree...
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Christina Aguilera buys home near Charlie Sheen
This week, Christina Aguilera snatched up a home in gated Mulholland Estates, Andy Warhol?s former townhome was listed in New York and ?Law and Order? star Christopher Meloni is flipping his New Canaan home.Christina Aguilera buys near Charlie SheenMulholland Estates is a gated community that?s popular with a number of celebrities including singer Robbie Williams, socialite Paris Hilton and actor ...
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Pending-home sales edged higher in March
Tight supplies of for-sale listings kept a lid on contracts to buy existing homes last March, a new survey said Monday.The Pending Home Sales Index from the National Association of Realtors increased 1.5 percent month to month. It is 7 percent higher than March of 2012. These numbers represent signed contracts, not closings, and are therefore an indicator of future final sales."Contract activity...
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Celebrity real estate: Claire Danes quietly buys West Village apartment
This week in celebrity real estate, property records confirmed Claire Danes? home purchase in West Village, actor Nick Nolte listed his Malibu estate and designer Nate Berkus stuck his New York apartment on the open market.Claire Danes quietly purchases West Village townhouseClaire Danes must have learned some tricks from her CIA operative role on ?Homeland.? The blonde actress picked up a new hom...
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Home prices rise by most in seven years
Single-family home prices rose more than expected in February, posting their best annual rise since May 2006 in a fresh sign the housing recovery remains on track, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 1.2 percent on a seasonally adjusted basis compared to January, topping forecasts for 0.9 percent. "Despite some recent...
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For sale: Lavish Tennessee castle with race track
Listing of the week: Tennessee castle with race track191 Degrassee Lane, Johnson City, Tenn. For sale: $4.85 millionWhat happens when you love cars and racing, and have a penchant for history and Spanish castles? Combine the two into a one-of-a-kind estate.Sitting at the base of the Great Smoky Mountains in Johnson City, Tenn., this home is a replica of Palacio de la Magdalena in Santander, Spain....
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Foreclosure compensation checks arrive, but anger some homeowners
Millions of American homeowners who have struggled with foreclosures are now receiving checks for compensation from the companies that serviced their mortgages -- part of the federal government?s efforts to resolve the foreclosure crisis. But some of those receiving checks tell NBC News that the payments are an insult that neither punishes the banks enough for ?deficient? practices nor helps harme...
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House stalkers finding ways to buy homes that aren't for sale
As the U.S. housing market heats up, eager buyers are refusing to wait until the for-sale signs appear. Instead, they are knocking on the doors of attractive properties, leaving letters in strangers' mailboxes, scanning foreclosure listings and surfing the Web for prospects. The direct approach worked for contractor Jerry Spring, 56, and his wife Kathryn, 62, who found themselves drawn to a house ...
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