New York City Townhouse Owned by Sarah Jessica Parker, Matthew Broderick Sells for $18.25M


According to real estate website Zillow, betrothed actors Sarah Jessica Parker and Matthew Broderick have just sold their New York City townhouse for $18.25 million.

Despite the hefty selling price, the couple actually lost a bit of cash on the deal, as they reportedly purchased the home four years ago for close to $19 million.

the impressive structure is located in NYC’s Greenwich Village neighborhood and boasts six bedrooms, five full bathrooms, three half-bathrooms, a dining room, a library and a state-of-the-art kitchen, all spread out over multiple floors.

Image via Elliman Real Estate

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Bloomberg Business Reveals the Effects of Booming Technology Market on Real Estate


Reporter Cory Johnson made an appearance on Bloomberg Markets on Tuesday and revealed that the booming tech industry in the San Francisco area has led to giant gains in the housing market there.

According to Johnson, in the slower months this year (like January and February), the average Bay Area home sold within 50 days, whereas in June, the turnaround was more like 28 days.

“The pace of sales, not just the price, is happening at a break-neck speed, and that’s leading to a lot of action in the housing market,” he said. “Buyers are being asked to do things like write letters or show pictures of their family and make videos and present themselves to the sellers. It’s not enough to just have enough money to buy the house or mortgage and be approved to do so.”

Image via flickr/Patrick Nouhailler

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Homeowners Making the Shift to Condos


When the S&P/Chase-Shiller home prices indices report for April was released at the end of last week, it showed strong gains in the construction of new housing, with 34 percent of housing starts coming in the form of apartments and condos.

The good news, though, is that despite the shift toward condo living, prices for such housing units is not expected to rise.

“While the shift in consumer preferences for condos versus single family homes seen in the housing starts data may be a change in people’s housing preferences or housing affordability, it does not appear to be changing the patterns of price movement,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones. “Moreover, the shift to condominiums isn’t likely to make home prices more or less volatile than in the past. It certainly won’t reduce the risk of another housing boom-bust cycle in the future.”

Image via wikipedia/William Cho

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Tampa: Home Prices Soaring, Housing Supply Remains Low


CNBC reporter Diana Olick revealed on Thursday that, despite the short supply of housing in Tampa, Fla., the area is currently experiencing a surge in home prices.

According to Olick, who referenced the Greater Tampa Association of Realtors, the median price for a home sold in Tampa in May jumped 12.4 percent from a year ago to $204,000.

Similarly to the rest of the country, however, the number of homes on the market in Tampa remains low, with inventory down nearly 5 percent from 2014.

Image via flickr/Sonny Side Up!

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Actor Johnny Depp Selling Entire French Village


Actor Johnny Depp – known for his roles in Pirates of the Caribbean and Charlie and the Chocolate Factory, among many others – has just put an entire French village up for sale.

According to the Los Angeles Times, Depp is selling the 27-acre estate called Plan de la Tour for close to $26 million.

The property, which boasts more than a dozen buildings, is located approximately 17 miles from Saint Tropez and was initially purchased by Depp in 2001. In his time as owner, Depp has spent $10 million on updates.

Image via Wikimedia Commons/Patricia.fidi

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Bank of America and Citigroup Funding Affordable Housing in New York Settlements


New York Attorney General Eric Schneiderman announced on Wednesday that Bank of America Corp. and Citigroup Inc. will be providing $75 million to rehabilitate 2,200 rental units statewide.

The hefty sum is part of a settlement stemming from an agreement to help resolve mortgage-bond practices that led to the 2008 financial crisis.

“New Yorkers were hurt in many ways by the housing crisis,” Schneiderman said. “My office has been creative in finding new ways to help New Yorkers recover.”

Image via flickr/Rob Young

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Auto Sales Set for Big Second Half of the Year


Industry experts are preparing for a big second half of the year after auto sales soared higher than expected in the first six months of 2015.

“A couple of months ago we thought sales would start to level off and maybe pull back, but now we’ve changed our forecast,” Jeff Schuster, Senior Vice President of Forecasting for the consulting firm LMC Automotive, told CNBC.

With the average vehicle in the U.S. clocking in at over 11 years old, we are starting to see many people taking advantage of the relatively strong economy and low unemployment rate to finally take the plunge on a new car.

Image via flickr/Emilio Labrador

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Freddie Mac Reminder: Financial Help with Down Payments Is Available


Freddie Mac VP Danny Gardner shared a brand new blog post on the company’s website on Wednesday morning reminding potential homebuyers that there is help out there when it comes to finding the funds for a down payment.

Gardner, who’s official title is Vice President of Single Family Affordable Lending and Access to Credit, understands that a 20 percent down payment can be difficult to come by for many people and explains in his article that “many state, county, and city governments offer financial assistance to people in their communities who are well qualified and ready for homeownership.”

According to Gardner, the three main types of assistance are grants, second mortgage loans and tax credits.

“Depending on the program, assistance may be limited to first-time homebuyers and/or low- and moderate-income buyers,” he added. “And homebuyer education counseling may be required.”

Image via flickr/Tax Credits

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CNBC Uncovers America’s Most Expensive States to Live In


On Friday, CNBC revealed the most expensive states to live in in 2015.

According to the news source, Hawaii topped the list, with California and New York following closely behind.

“The Ahola State is living proof that you get what you pay for,” the report states. “The quality of life in Hawaii is second to none.”

In addition to many foods costing more than twice what they would cost on the mainland, the average home price in Honolulu Metro is $868,317.

Image via flickr/Ricymar Photography

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Rental Demand Likely to Hit Historic Highs This Decade


It’s no secret by now that rental prices have been skyrocketing nationwide for months upon months.

Now, CNBC financial reporter Diana Olick has taken another look at the rental market and found that – despite the growing costs – rental properties are becoming more in-demand than ever before, suggesting that we’re likely to see a record high number of renters by the end of this decade.

“Surprisingly, it will not all be driven by millennials,” Olick explained. “So far, households aged 45 to 64 have accounted for twice the share of rental growth as households under the age of 35. So as we talk about higher rents, it’s the middle-aged middle-class that’s getting squeezed too.”

Image via flickr/hearingpocket

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