AOL Real Estate - Blog http://realestate.aol.com/blog AOL Real Estate - Blog http://realestate.aol.com/blog/media/feedlogo.gif AOL Real Estate - Blog http://realestate.aol.com/blog en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/Help Agents Sell Your Home As If They Owned Ithttp://realestate.aol.com/blog/2011/04/07/help-real-estate-agents-sell-your-home-like-they-sell-theirs/http://realestate.aol.com/blog/2011/04/07/help-real-estate-agents-sell-your-home-like-they-sell-theirs/http://realestate.aol.com/blog/2011/04/07/help-real-estate-agents-sell-your-home-like-they-sell-theirs/#comments real estate agentsReal estate agents tend to make more money when selling their own home than when they sell a home for someone else. That was the claim Steven D. Levitt and Stephen J. Dubner made in their best-selling book Freakonomics. In the book they referred to a study that says real estate agents wait longer to sell their own personal residences, and therefore sell their homes for more money.

Some experts say that agents are not selling your home for less intentionally. "It is solely and wholly psychological," says Luigi Rosabianca of real estate law firm Rosabianca & Associates. "[It is] the same manner by which lenders assess higher interest rates to commercial properties than to residential properties utilized as a primary residence. It is human nature to take care of one's own affairs better than those of others. This has nothing to do with one's duty or professionalism, it is the subtlelty of the human, subconscious condition."

So what can we, the non-brokers, learn from these understandably self-motivated brokers in order to help them sell our homes as successfully as they've sold theirs?


Hold out.
Enough with the urgency to dump your current home fast and then quickly move on to the next opportunity. Buying a home takes a big chunk of money out of your financial portfolio. It's likely t

Search Homes for Sale
See photos of homes for sale in your area and across the country on AOL Real Estate
he most costly investment in it! Think about it: You put a lot of thought into buying, so allow for some time then to sell it.

Price right.
You're either priced to sell, or priced to sit. Over pricing rarely works, so you're better off being realistic. Offer the best value and know what other properties are for sale in your listing tract so your listing is viewed competitively.

Price change.
Still, some brokers like to list higher than the property is worth. Their idea is that after some time on the market they can update the listing either with a price change or some other crucial condition change. Be prudent with this move.

Be motivated.
If you really want to sell your home, you'll work that much harder to make it happen. Motivation is key, as selling a home takes real effort. You want to stay flexible and be open to owner financing if it feels right. The internet is your best friend. Gather and sponge up all the real estate information out there. These days brokers don't have to know any more than you know about what's going on.

Do the at-home busy work.
Get your place as ready as it will ever be, and more. You've got to make this place look like good enough for you to consider staying in yourself. That means give it a new paint job, clean it, stage it in a way that is tastefully ambiguous, host open houses, take appointments, and be on top of your game with paperwork.

Hire a broker you trust, respect and will actually listen to.
These guys do have incentive to get you a great return: They want to help you buy and sell your next house, and they'd love to help all your friends and family, too, with their real estate. Find someone you trust and value and take their advice. They probably know how to get top- dollar prices for homes since they do it for a living.

"I sold my apartment for 10 percent above the market," says Asher Alcobi, president of Peter Ashe Real Estate. "Two years later when the market was really good, the new owners sold the apartment for 15 percent less then what they bought it from me. They didn't take the advice of the real estate agent. [They didn't] change their appliances, upgrade light fixtures, and didn't clean the windows. [Those] small changes that could have amounted to a higher price. The agents, on the other hand, are really paying attention to the small things that can increase the price and are not afraid to jump into the water."

These AOL Real Estate guides can help, no matter whether you choose to buy or sell:

 

Permalink | Email this | Comments

]]>Freakonomicsgetting the best pricereal estate agentsselling a homeselling your homestephen dubnerShira Levine2011-04-07T16:27:00 00:00Should Muammar Qaddafi Move to New Jersey?http://realestate.aol.com/blog/2011/04/06/should-muammar-qaddafi-move-to-new-jersey/http://realestate.aol.com/blog/2011/04/06/should-muammar-qaddafi-move-to-new-jersey/http://realestate.aol.com/blog/2011/04/06/should-muammar-qaddafi-move-to-new-jersey/#commentsFiled under: ,

Muammar el-QaddafiAmong his far-flung real estate holdings, murderous dictator Muammar Qaddafi of Libya counts a mansion (see photo below) in the wealthy New York City suburb of Englewood, N.J., as part of his housing portfolio. Wonder why he hasn't moved here already? After all shopping at the Paramus Mall has to beat taking the heat back in his homeland.

The Libyan government (i.e., Qaddafi) bought the Englewood estate back in 1982 initially for the Libyan ambassador to the United Nations. The property came up in 2009 in the press when Qaddafi was last in the United States for his United Nations address, pictured left. His plan had been to put up a Bedouin-style tent on property, which sits next to a Jewish school. Locals protested the plan and New Jersey politicians eventually convinced the Libyan leader to confine his visit to Manhattan.

The home is sovereign Libyan territory, so whomever lives there, lives tax-free.

Other notable Englewood neighbors include Eddie Murphy, John Travolta and rapper Lil' Kim.

Celebrity Rabbi Shmuley Boteach is also a neighbor. He has actively protested the continued presence of Qaddafi in his 'hood.

"We, the residents of Englewood, pay for his trash removal, police protection and other basic services," Boteach wrote recently in the Jerusalem Post. "My city allows this shameful state of affairs. There has not been a lawsuit to try to push the Libyans out, or get them to at least pay taxes in almost 30 years!" Boteach also contributed similar comments to the Huffington Post.



More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>celebrity real estatedictatorsenglewood new jerseyenglewood real estatelibyaMuammar Qaddafinew jersey real estateshmuley boteachShira Levine2011-04-06T15:02:00 00:00Financial Expert on Why Buying a Home Is a Bad Ideahttp://realestate.aol.com/blog/2011/03/31/financial-expert-on-why-buying-a-home-is-a-bad-idea/http://realestate.aol.com/blog/2011/03/31/financial-expert-on-why-buying-a-home-is-a-bad-idea/http://realestate.aol.com/blog/2011/03/31/financial-expert-on-why-buying-a-home-is-a-bad-idea/#commentsThe idea that buying a home might be a totally bad investment is a hard statement to digest. Hedge fund manager and Huffington Post contributor James Altucher made big internet waves last week with his declarative and super-viral post stating: "Why I Am Never Going to Own a Home Again."

The kind of guy to make a lofty statement like that and then follow it up with an extensive and pretty good argument as to why he's even bothering to say it, clearly can go on and on about such advice. So AOL Real Estate called him up at home in his New York state rental home for a chat:


People have a hard time accepting the idea that buying a home is a bad idea and that renting is actually smarter. Besides ticking off real estate brokers, this is also critical of the American dream. What do you say to the continued naysayers?

James Altucher: It's simply a bad investment because it's not liquid. You can't get your money out during hard times. It's an investment where you are not diversifying yourself. Buying a home is

Search Homes for Sale
See photos of homes for sale in your area and across the country on AOL Real Estate

the biggest part of your portfolio, like 80 percent. You can leverage a stock 2 to 1; you leverage 5 to 1 with a mortgage. People tend to put the lowest down payment, so it has every quality of a bad investment.

Can you explain how stocks are a better investment than owning the place you live in?

Historically, housing doesn't out perform the stock market. You pay a dividend to your home. You don't have to pay dividends with other stocks. You pay maintenance on you house and all these other expenses. You have all this work you have to always do on your investment: mow the lawn, shovel the snow. People are constantly spending money to maintain their house and they don't count those hidden costs.

If you really believe housing is a great investment, you can buy housing stocks, stock that relate to the housing market. But owning a home just isn't a good investment. Your cash is completley gone. The closing costs, the maintenance, the taxes. People who say when you own a house you aren't affected by inflation, but that's wrong. Property taxes go up. When you're renting you don't put money into a down payment. That can be $100,000 gone. But if you're renting you still have that $100,000 in the bank and you can buy stocks with it and start a business with that money. It's still working for you and can be liquid easier than when it's gone forever. Plus, the average American moves every five years, and that definitely doesn't pay off.

What are some good home stocks to buy?

Home builder stocks. There are stocks that track the price of a house you could buy if you believe housing is a good investment. Lennar is one....REITs [real estate investment trusts] track residential housing. I think housing is a good investment right now as a stock. I believe in those stocks and I think those stocks will go up.

It's a smart way to think about renting when you say the landlord, the super, the Sears delivery guy all work for you.

It's much easier to deal with a broken dishwasher if the landlord has to fix it. If there are five inches of snow outside, your landlord has to shovel it. But when you own a house and there's a leak and your basement floods, you have to get the shovel and the bucket. There is a lot of stress in owning. You have to work on things and pay for things and dedicate your weekends to this stuff. Your rent the becomes an enormously valuable investment because it's fixed and has maintenance included in everything.

It's easy for you to say don't buy after you yourself have previously bought, do we all need to learn the hard way?

My hope is that my arguments are strong enough that people will realize that I am correct without having to go through the hard experience. I have 2,000 emails from people telling me how much they agree with me and wish they'd known. I think people are ingrained with the American myth and the American religion. That everyone should own a home and everyone should go to college. That's American mythology. It's a scam. Corporations wanted their employees to be trapped and close to them so they encouraged them to own homes. Then the corporations could hire new people as new adults are created and grow up. People who own homes can't pick up and leave jobs if they want. Renting gives you more flexibility with the kinds of jobs so that way then your income can be higher because you have options. Not having ownership of a home you have power and choice over the employer and corporation.

So buying a home means your buying into American mythology?

Corporations and banks all want you to own homes because that is how they make money. So they spent a trillion dollars on marketing homes as part of the American dream. They need all that money and have to advertise as much as they can that home ownership is the way to success. Fannie Mae and Freddie Mac is the government helping the corporations with that. Now more people own homes and now people are miserable and foreclosed on. It's all a circle. Even if housing is a good investment, I won't participate in the scam again. I believe you can rent in any part of the country and I don't believe it has to be tenement housing. You just have to look hard.

Would you ever suggest DIYing on the lawyers, title insurance, and moving costs to cut out that 2 to 3 percent spent?

Don't do it yourself. You could get in trouble that way. And it takes too much time and effort. My overall goal in life is to not have stress and my second goal is to help people not have stress. The American religion is against that. Remember, you want cash in bank and more opportunities and to be flexible.

But owning a home allows you to buy make your home your home. You can knock down walls, build a pool, etc.

Well, remember zoning prohibits you from doing almost anything you want to do. It's hard and stressful to get that and sometimes they say no in the end to the pool and growing or knocking down the tree. They reject you and then they raise your property taxes!

What about when people say it's smarter for them to own a home because they make too much money and they need that tax write-off?

When you match that against the increase in property taxes and maintenance costs. When you match all these things, that savings in taxes is just part of the mess. The meager savings on the taxes you get to write off, the interest savings on your mortgage is all offset by raised property taxes and maintenance costs and the time and stress it take to maintain the house.

So what about second home ownership?

A lot of people like to do the second home thing. But why would you take a vacation in the same place for twenty years? You still will have the stress of owning a home there. You have to maintain it the whole year. I think second home ownership makes far less sense than first home sense.

Does all this still pertain to those with children and are seeking stability?

I have kids, also. Kids dont know whether you own or rent. Kids are fine with change. You can rent in the same place for twenty years. That's just an excuse.

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>buy a homehousing costshousing crisishuffington postjames altucherrenting a homeShira Levine2011-03-31T11:24:00 00:00Tiny Houses, Big Trendhttp://realestate.aol.com/blog/2011/03/22/tiny-houses-big-trend/http://realestate.aol.com/blog/2011/03/22/tiny-houses-big-trend/http://realestate.aol.com/blog/2011/03/22/tiny-houses-big-trend/#commentsTiny houses are all the rage these days. Thanks to the housing boom and bust, what Americans previously associated with living well--i.e., living large--is, for many of us, no longer. The recession taught us the hard way that bigger homes don't necessarily mean better investments.

So, driven by economic need and a desire for simpler, more sustainable living, people are turning to tiny houses. Besides being more efficient (utility bills for some of these places can run in the single digits), downsizing to little living can make maintenance, household cleaning and upkeep much more affordable expenses.

Designers and architects are seizing the opportunity. Tumbleweed Tiny House Company in Boyes Hot Springs, CA, has built a business out of constructing mini-manors. Owner Jay Shafer builds his closet-size homes using high-quality craftsmanship and sustainable materials.

"My decision to inhabit just 89 square feet arose from some concerns I had about the impact a larger house would have on the environment, and because I do not want to maintain a lot of unused or unusable space," Shafer explains on his web site. "My houses have met all of my domestic needs without demanding much in return. The simple, slower lifestyle my homes have afforded is a luxury."


Second Act - Jay Shafer's Tiny Home


He also has a strong aversion to vacuuming, notes Tumbleweed customer service manager Brett Haynes. "They're small enough where you don't have to worry about vacuuming and if you do, it's a quick job."

If you're handy, you can plunk down $16,000 and get a kit to build one of Tumbleweed's 55-square-foot homes yourself. Otherwise, Shafer charges $38,000 to do the job.

"We typically build only 4 to 6, a year because most people do want to build their homes themselves," says Haynes. "It's much cheaper. That is the appeal for people. They like that they are actually building their own dwelling."

Tumbleweed's customers are typically well-educated consumers with a green bent. Many are women. "These are environmentally conscious people who have a strong opinion about living simple, living off the grid, and they like the idea of owning something they've built themselves that they can also move easily," says Haynes. (Tumbleweed homes are often on wheels.)

But make no mistake, the diminutive dwelling spaces aren't your brother-in-law's trailer. They are well-built, solid houses that take roughly 500 hours of manual labor to construct, with charming exteriors, clever built-ins, and luxurious materials. They are designed to be a place someone would enjoy living in for years.

"People are always shocked when they walk in," says Haynes. "These aren't shelters. There is a lot of attention to detail, and they never feel as small as they are."

Check out our gallery of precious petite palaces.

%Gallery-119479%





More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>cabinsdownsizinggreengreen livingshedssmall homessmall housessustainable livingtexas tiny housestiny housesShira Levine2011-03-22T14:00:00 00:00Medical Marijuana: How Card-Carrying Renters Copehttp://realestate.aol.com/blog/2011/03/14/medical-marijuana-how-card-carrying-renters-cope/http://realestate.aol.com/blog/2011/03/14/medical-marijuana-how-card-carrying-renters-cope/http://realestate.aol.com/blog/2011/03/14/medical-marijuana-how-card-carrying-renters-cope/#commentsFourteen states plus our nation's capital now have legalized medical marijuana use. However, that doesn't mean state-issued, card-carrying Americans in those green states can just spark up on any American stoop. For renters, puffing pot is best kept behind closed and sealed doors, out of sight of uptight landlords. Medical marijuana is for indoor smoking and growing, especially for renters.

Just because state governments give the 10-4 on the 4/20, doesn't mean a landlord has to be cool with passing the peace pipe. While the decriminalization of marijuana for medicinal purposes spreads like a wild fire across the United States, smokers and growers carrying cards don't necessarily have amnesty from landlords, particularly those who maintain an overall no-smoking policy and don't understand the current legislation.

"The landlord can deny you status, and there is no protection here for that yet," says Ean Seeb, owner of Denver Relief, a medical marijuana center in Denver, who previously worked as a real estate agent. "It's not a protected status like gender, race, or a physical disability or handicap."

Here are a few tips from two responsible card carrying real estate professionals on how to puff privately behind the thin veil of smoke -- without offending neighbors -- or worse, ending up with an eviction notice.

1. Follow those signs that read: Green space available. That's a solid clue that you're dealing with landlords who recognize the green boom are offering space for residential smokers and commercial space for growers. "Those landlords who are smarter and fully understanding of the law recognize that there are good tenants carrying cards and that they will pay a premium for the space," says Seeb.

2. Be a good neighbor. Keep the smoke private and indoors. Close the windows when you're smoking so the scent doesn't offend neighbors. Don't smoke on a balcony or in a back yard even if it's fenced in. More than the sight of smoke is the scent that often offends neighbors with your condo board, neighborhood watch, landlord or super on speed dial.

3. Seek out residential and commercial situations where you are dealing with a private landlord vs. management company. "Those larger, major complex," says Sean, a card carrying real estate agent based in Southern California who asked to keep his last name private. "The landlords of individually owned condo tend to be more educated and well-versed in the law. Also the chances are high that they consume as well."

4. Those who lived in a shared space like an apartment building or townhouse should invest in vaporizer and charcoal air filter, advises Seeb. "Growers all used these because otherwise the neighborhood would reek for blocks. Incense doesn't cover the smell, but filters suck out all that 'foul smelling' air."

"Your really want to be mindful of your vents if you are living in an apartment or somewhere with roomates who don't smoke," says Sean who suggests buying medical marijuana accoutrements from VaporNation and Zen Healing, a medical marijuana dispensary in West Hollywood, Calif.

5. Dispose of your waste properly. Those who enjoy medical marijuana edibles like brownies, candies and cookies should make sure any remains or packaging is bagged up tightly to prevent kids and animals from accidentally ingesting. Edibles also don't carry the same odor smoking does, but can be just as potent.

"Use the same common sense you would use with prescription drugs and make everything tamper proof," says Seeb. "Don't leave stuff out in the open if you have children and pets. It's hard to tell between a marijuana brownie and a regular one."


Want to know how to deal with other rental issues? Here are some AOL Real Estate guides that can help:

 

Permalink | Email this | Comments

]]>glaucomamarijuana legalizationmarijuana usemedical marijuanapot smokingrental tipssmoking weedShira Levine2011-03-14T15:09:00 00:00Buy a House: Brave Homebuyers Ignore the Slumphttp://realestate.aol.com/blog/2011/03/09/buy-a-house-brave-homebuyers-ignore-the-slump/http://realestate.aol.com/blog/2011/03/09/buy-a-house-brave-homebuyers-ignore-the-slump/http://realestate.aol.com/blog/2011/03/09/buy-a-house-brave-homebuyers-ignore-the-slump/#commentsFiled under:

buy a houseGlenn Ruppert recently got up the nerve to buy a house within Firethorne, a 1,400-acre planned community in Katy/Fulshear, Tex. -- right in the middle of the ongoing housing slump.

The Ruppert family, pictured left weren't actually looking to buy a house. But government incentives such as federal tax credits and government-funded down payment assistant programs made buying a logical and attractive investment. The Rupperts were also drawn to being part of a new neighborhood with a lot of growth potential.

"We waited a year during the economic downturn for things to level off. We hadn't counted on the government stimulus, but that was an incentive," says Ruppert. "[So] we were able to buy our first brand-new home, a 4,380-square-foot home, [and move] up from a 2,500-square-foot home."

Talking real estate may be the pits for homeowners who tragically bought five years ago, but it's ever the hot topic for new homeowners who are not only unfazed by the slump, but eager to drop dough on still-discounted deals.


According to a Fannie Mae survey, 51 percent of homeowners and renters say the housing crisis hasn't affected their desire to buy. Roughly 27 percent indicate that the sad state of the market had some influence on their decision to by now. Why? Good prices!

"People will always need a place to live," says Jessie Conners, a real estate expert specializing in

Search Homes for Sale
See photos of homes for sale in your area and across the country on AOL Real Estate
REO and short sales, and who starred on season one of Donald Trump's The Apprentice on NBC. "Real Estate, unlike a fad or get-rich-quick scheme, is a tangible investment. [Right now] banks are holding too much inventory and they are desperate to get them off their books. They are not in the real estate business, and they are being fined by the FDIC."

For Alex Varvounis, a Washington, DC police officer, who recently bought a home in Spencerville, Maryland this isn't a housing crisis, but a window of opportunity he hopes stays wide open for a while.

"It's where things should be in reference to cost and value," says Varvounis. "When I was in college I could not even afford a condo, much less the house I bought last year. My interest rate is 4.375 percent, [and] the interest rate makes all the difference in a 30-year mortgage. Everyone is lowballing the foreclosures, offering what is asked. Twenty percent down ups your chances of getting the house, and then you have [nearly] no mortgage coverage to worry about.

Many new homeowners feel personally untroubled by the current crisis. Where a significant number of Americans overextended themselves financially and made poor investment decisions without real savings, others who waited until they were a bit more stable and grew their nest egg are now delightfully cashing in.

"After college I moved back home and paid off my student loans," says Varvounis. "When I had money to burn, I thought of a solid investment, a house. I tried the market three years ago and was out-gunned. The 7-plus percent interest rate was what made it hard. So I am glad it all went downhill. Average guys couldn't touch real estate then, now we can!"

Resale value was a detail many buyers of a few years ago overlooked. They were quick to get loans and get in, and deferred payment until the market imploded. Now "resale value" is common jargon dropped by both the broker and the buyer.

"You always need to think of your exit plan when investing," says Conners. "I mainly buy and rent because the rental market is so strong."

"[For me,] I do not see resale as an option," says Varvounis. I am looking at paying my house off in 7-10 years. I look at how many houses I can buy, and pay off before I retire. If you own and need money you can always rent it and buy another."

"Look, you have to live somewhere and in the long run home prices will go up," says Samuel Gailbreath, a home mortgage consultant at Monarch Bank in Rockville, Maryland. "And ten years from now people will look back and say 2010 and 2011 were the times to buy real estate."

"[It is] the American dream that people strive for," says Glenn Ruppert of homeownership. "Regardless of the economic outlook, we're still going to take care of our family to the best of our abilities. You always have to be forward thinking. Nothing has historically shown that this type of thing lasts in this country."


For more on home prices and related topics see these AOL Real Estate guides:

 

Permalink | Email this | Comments

]]>buy a housebuying a homefulshear texaskaty texastexas real estateShira Levine2011-03-09T15:08:00 00:00First Time Home Buyers: Tips for Today's Markethttp://realestate.aol.com/blog/2011/03/04/first-time-home-buyers-tips-for-todays-market/http://realestate.aol.com/blog/2011/03/04/first-time-home-buyers-tips-for-todays-market/http://realestate.aol.com/blog/2011/03/04/first-time-home-buyers-tips-for-todays-market/#commentsFiled under: ,,

first time home buyersBuying your first home is a big step and a huge investment. For first time home buyers, the process is never quick and easy, but today's low prices and lower interest rates are mighty tempting for those with a little liquidity and the cojones to dive into the market checkbook first.

Hold on to your wallet though! The paperwork, the finances, the legalities, the homeowner insurance, the adjustments, the whatever else, are all details that need to be squared away before taking the plunge. And that's only if you've actually found that first home you'd like to reside in.

Here are a eight tips from real estate experts on looking for that first home.

1. Get your finances in order.
Before you step foot into a potential home, get your money situation together. That means getting that credit check out of the way, obtaining pre-approval with a mortgage lender, and mapping out a line budget, advises Stribling agent, Cornelia Van Amburg. Before dropping dollars you want to know what you qualify for and can afford in order to avoid bank and heart breaks. Use a mortgage payment calculator to see what your payment might be.

2. Be down with the lingo and the process.
Know the terminology of the real estate market. Learning real estate jargon helps first time home buyers understand the market more efficiently, says Paul Macapagal, vp at The Real Estate Group of NY. You want to be aware of details like what a condo is vs. a co-op; what the prices are per square foot; and what the closing costs are for a property.

"Buyers looking at new developments [may have] closing costs anywhere from 4 to 6 percent of the sales price," says Modern Spaces' Eric Benaim. "In most cases the closing costs cannot be included with the loan amount so it's an extra out of pocket expense."

Due diligence extends to the contract too. "Once buyers find their homes and negotiate their price, they will have anywhere from 5 to 10 business days to review the contract," says Benaim. Definitely review the contract.

3. Find a well-trusted real estate agent.
Take this part of the process really seriously because you're going to be spending a lot of time with your agent. This will ultimately be someone who means a lot to you -- after all they are facilitating the biggest purchase of you life so far.

"[Look for] one that is knowledgeable of how to handle a first time home buyer," says Macapagal. "One that is willing to hold their hand and walk them through every step of the process" is going to make the experience much more pleasant and far less daunting.

4. Create a circle of competence.
There are a lot of professional people involved with the purchase of your new home, so why not have them all part of your team? Macapagal suggess building a scenario where your real estate agent, mortgage broker, and real estate attorney all know each other, to help make the service to the client a seamless endeavor.

The attorney part of the equation is often what can make or break a deal if they don't understand the type of property the purchases is buying. That's why it's important to make sure you work with an attorney who specializes in real estate as well as the area the home is located in. "Sometimes new buyers like to work with an attorney who is a family friend, or, a relative which is fine, as long as the attorney understands the kind of home they're buying," says Benaim.

5. Always think about resale value.
Nothing is forever so you want to make sure you've got the neighborhood amenities and accessories that make your home a hotspot for the next potential buyers. A good school district is a reflection of the quality of a neighborhood. Amenities such as parks, swimming pools, good quality and accessible shopping centers, as well as proximity to transportation are valuable features to look for, says Van Amburg.

Teri Karush Rogers of BrickUnderground.com finds that, "One of the most common mistakes
Search Homes for Sale
See photos of homes for sale in your area and across the country on AOL Real Estate
among first-time homebuyers is falling in love with the house and underestimating the impact the neighborhood will have on domestic happiness. Identify neighborhoods and towns you love first, then zero in on the home."

6. Don't underestimate the cost of maintaining a home.
So much for the good deal on the home if it costs a fortune to maintain. The time spent on maintaining your home on it's own can be staggering to those used to renting. "Yard care, roof repair and eventual replacement, winter time heating costs, and acts of nature like falling tree limbs and floods from burst pipes can come as a big surprise to house-poor budgets," says Rogers.

Those buying apartments should consider that smaller buildings such a townhouse co-ops or walk-ups will have a lower maintenance fees, says Van Amburg. "Likewise, large buildings will offer many services and have a reasonable monthly charge because there are many owners sharing the costs."

7. Cross check everything.
Research the selling prices of comparable homes in your area. Web sites like Zillow and Homegain offer a general idea of prices. Be sure to search actual MLS listings in your area using sites like the National Association of Realtors.

8. Allow a little dreaming into the equation.
It's not a bad idea to create a wish list for listing some on-paper guidlines. "Tailor it as you become more educated on the market inventory," says Van Amburg. "If you are organized, educated and ready with your finances, be prepared to move quickly when you find your dream home."

These AOL Real Estate guides can help, no matter whether you choose to buy or sell:

 

Permalink | Email this | Comments

]]>buying your first homefirst time home buyershomebuying tipsHomeBuyingAdviceShira Levine2011-03-04T14:09:00 00:00Home Inspections: What to Do Before Selling This Springhttp://realestate.aol.com/blog/2011/03/03/home-inspections-what-to-do-before-selling-this-spring/http://realestate.aol.com/blog/2011/03/03/home-inspections-what-to-do-before-selling-this-spring/http://realestate.aol.com/blog/2011/03/03/home-inspections-what-to-do-before-selling-this-spring/#commentsWith the spring homebuying season rapidly approaching, home inspections are a must -- for the seller. "If you have maintained your home while living there it will be a smoother [buyer's] inspection," says Bryan Felder, a broker with The Virginia Realty Group in Chantilly, Va.

It's not a bad idea to do a home inspection before even listing your home. It may sound like a hassle but it could save you a lot of money and stress early on. "It will pinpoint danger areas or red flags that could be a potential problem," says Felder. "It gives the seller the ability to address it before [a buyer comes in to judge]."

Remember, you're not buying a dump, so don't sell a dump either.

Having your home already inspected ultimately also gives the prospective buyers the comfort and confidence that the seller actually cared about their home in the first place. Just be sure to
Search Homes for Sale
See photos of homes for sale in your area and across the country on AOL Real Estate
inform the buyer and show proof of the home inspection you so kindly took care of. Doing so avoids any unnceccesary and costly redundancies and hiccups during the transaction.

Kurt Salomon, President of the American Society of Home Inspectors (ASHI), based in Salt Lake City, provided AOL Real Estate with a pre-listing home inspection checklist to keep things significantly less nerve-racking and not terribly costly before the buyer's home inspector comes through.

1. Clean your gutters out. This is a commonly overlooked detail that just ends up being a hassle later on. Don't get docked for such a simple yard work chore.

2. If your furnace is over 15 years old, spend the $100 it typically costs to have it serviced and cleaned. "Then make a copy and put it in a ziplock bag and tape it to the furnace," says Salomon. "Home inspectors are known for calling out a problem when there isn't a problem there. Put the proof up to eliminate the uncertainty the home inspector will fall to otherwise."

3. Check for positive drainage of the landscape around the house. You don't want to flood the basement, so get some dirt and toss it into the wheelbarrow and level out the slopes.

4. Reinstall any handrails. Many people remove the handrails along their stairs, but when you move out you want to put them back. The home inspector will insist on it.

5. If it's safe, check out the condition of your roof. You want things looking normal, or, otherwise you'll have to get some maintainance help.

6. Check the auto reverse on the garage door opener. Make sure there's a safety release.

7. Sounds funny, but check that all toilets are flushed properly. "You'd be surprised how many people forget about flushing the toilet in the 'other bathroom,' or, guest room," says Salomon. "You don't want things to pop up."

8. Check your sink and bathtub drains. You need a functional drain, not a slow drain. The home inspector will fill up your tub and watch for what happens. Get any hair out and add Drano when necessary.

9. Take care of any leaks if you can. Check under your sinks and vanities for leakage and tighten what you can on your own.

10. Check your windows. Open and close each hung window -- especially the ones that go up and down so as to make sure the springs are in place and the windows won't slam down.

11. Fix up any deteriorated paint jobs.

12. Test out the dishwasher and washing machine along with any other appliances that will be staying behind. You want everything functioning properly, so there are no surprises.

And as for the don'ts, Salomon speaks from experience when he advises not to leave "any stuff out that you wouldn't want your mother to see -- if you catch my drift." And on a more serious and less embarrassing note: "Don't ever take off the electric panel. That's one thing to leave to the inspector!"

Thinking about adding value with home improvements? Here are some AOL Real Estate guides to help you, whether you're selling or staying.

 

Permalink | Email this | Comments

]]>Home Inspectionshome sellershome selling tipspre-listing home inspectionselling your homeShira Levine2011-03-03T17:41:00 00:00Sesame Street Mansion Hits the Markethttp://realestate.aol.com/blog/2011/02/18/muppets-mansion-hits-the-market/http://realestate.aol.com/blog/2011/02/18/muppets-mansion-hits-the-market/http://realestate.aol.com/blog/2011/02/18/muppets-mansion-hits-the-market/#commentsAnyone who ever wanted the directions for "how to get to Sesame Street," doesn't have to look any further. It's right there, at the original Muppets mansion, on East 69th Street between Park and Lexington Avenues in New York City's Manhattan. And it's yours, for just $27.25 million.

While the TV working version of 123 Sesame Street, home to the long-running PBS children's educational program, is located at the Kaufman Astoria Studios in Long Island City, N.Y., the Upper East Side townhouse is where fuzzy, felty folk like Kermit the Frog, Miss Piggy, Big Bird and much of the Muppet clan were born and raised.

For decades, 117 East 69th was known as the Muppet Workshop. The Muppet-cohabitating landlord was Muppet creator Jim Henson, pictured below. He held creative court in the space following his purchase of the building in 1977 for

The History of The Muppets
$600,000 from the New York State Pharmaceutical Association. Fifteen years after Henson's death in 1990, of a severe bacterial infection, his estate resold the mansion in 2005 for $12.4 million.

Fast forward to 2008, when the current owner, Edgar Bronfman Jr., the former CEO of sesame streetSeagram, vice chairman of Vivendi Universal, and CEO of Warner Music Group scooped up the lair for a whopping $28.5 million. Bronfman gutted it with plans to turn it into a residential refuge, but his three-year renovation plan never materialized; he has since moved to London.

The next owner will have to be someone who can "bring home the bacon," as Kermit tactlessly suggested to Miss Piggy in Muppets Take Manhattan. Brokers Alina Pedroso and Paula Del Nunzio at Brown Harris Stevens declined comment on the prized property, as did representatives of the Jim Henson Company. Sotheby's Tom Doyle speculates that while "Muppets themselves don't have cachet, brokers will still babble" about the little guys to add hype around the listing.

The 12,000-square-foot townhouse was first owned by a Beekman Winthrop, a descendant of New England governors. In 1928, Winthrop hired designer Julius F. Gaylor to build the palatial digs for his family.

Although little has been revealed about the actual space, the Muppet mansion, originally known as the Beekman Winthrop Mansion, reportedly has a winding staircase that leads up to a massive skylight, a "spectacular garden," and an upper floor terrace. The 40-foot-wide townhouse replaced two smaller townhouses and today enjoys some mixed-use zoning. So the next owner can enjoy the property either as a private single-family home, or, as "trophy headquarters [that] could possibly be used as the home of a small bank, hedge fund or other enterprise."

A possible reason Bronfman is getting out of Muppetville may be his conviction last month for insider trading. Forgetting Sarah Marshall star Jason Segel is headlining the new Muppet movie, due out in late 2011, for which he also wrote the screenplay.













For more on real estate brokers and related topics see these AOL Real Estate guides:

 

Permalink | Email this | Comments

]]>big birdcelebrity real estateelmoernie and bertgroverjason segeljim hensonkermit the frogmuppetsmuppets mansionmuppets take manhattanpbsPbsKidssesame streetthe muppet showShira Levine2011-02-18T11:06:00 00:00Mark Zuckerberg Rents Home (Again!)http://realestate.aol.com/blog/2011/01/14/mark-zuckerberg-rents-home-again/http://realestate.aol.com/blog/2011/01/14/mark-zuckerberg-rents-home-again/http://realestate.aol.com/blog/2011/01/14/mark-zuckerberg-rents-home-again/#commentsFiled under: ,,

mark zuckerbergMark Zuckerberg, Facebook's founder and CEO, is learning that privacy is more of an ideal than a reality, even if he moves to a relatively modest new rental home.

The 26-year-old Zuckerberg moved recently -- a whole seven blocks away from his old rental home -- into a slightly larger, moderately more expensive, but most importantly, a much more secure rental home that has been updated with security cameras.

This status update comes following Zuckerberg's recognition as Time magazine's "Person of the Year," his well-publicized status as a billionaire, and after giving Oprah Winfrey, (the most powerful woman in the world) a tour of his previous home back in September 2010.

Not to mention the prior exposure of having the popular website Gawker.com posting photos of both his old place and now his new rental home. Given the aforementioned details it's easy to understand why Zuckerberg wants to control who he shares his private life and location with, and how he'd like to keep the rest of us on his blocked list. Indeed Zuckerberg's contact information is not checked for "everyone" to see and his walls are enclosed.

Zuckerberg's new place like his old one is also in the Palo Alto neighborhood of College Terrace and near Stanford
Find Local Homes for Sale
Browse through photos of millions of home listings on AOL Real Estate
See Homes for Sale
Search Foreclosures for Sale
University. He graduated or upgraded from a 2,350 square foot, four-bedroom layout at 2073 Princeton Street to a five bedroom house with a profile totallying roughly 3,800 square feet. (Zuck's old pad was listed at $7,850 a month for those wanting a link to the Social Network muse.)

Even with the new financial status, Zuckerberg unlike other web-based billionaire's so far is still keeping something of a low profile. He's still supremely practical as well. No need to private helicopter to work when the Facebook Headquarters are just a few blocks away.

And keeping things simple, the new pad is a modest rental just as the old place was. The only big real estate purching for Zuckerberg is in online real estate. He just announced tbe buying of the URL FB.com for a mere $8.5 million. Meanwhile the old real estate profile of Zuckerberg is now up for tagging -- his former living site is on the market as of last month.

"It may not be where he is looking to permanantly settle down," says Tom Doyle of Sotheby's International Realty in New York, who has no connection to Zuckerberg's rental deal. "It is easier to rent -- get in and out when he wants --rather than the more involved process of purchasing a home and selling when done in the area." Adds Frances Katzen of Prudential Douglas Elliman in New York: "It ultimately may come down to [something] as simple as he has not been wowed by the inventory available at this time."

Like everthing social media, little goes unnoticed thanks to viral newsfeeds. A College Terrace neighbor alerted Gawker that "Everybody's aware that Zuckerberg moved here" and new pictures were sent.

While everyone, and their mother - - and even grandmother will soon be updated about where Zuckerberg lives, at least this time his new home is armed with security cameras. Perhaps thanks to a little poking from understandably cautious investors.




Want to know how to deal with other rental issues? Here are some AOL Real Estate guides that can help:
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>celebrity real estateCelebrityRealEstatefacebookMark ZuckerbergMarkZuckerbergpalo alto real estatePaloAltoRealEstaterental tipsRentalTipsShira Levine2011-01-14T11:44:00 00:00Tenants: Keep Your Landlord in Checkhttp://realestate.aol.com/blog/2011/01/04/keeping-your-landlord-in-check-in-2011/http://realestate.aol.com/blog/2011/01/04/keeping-your-landlord-in-check-in-2011/http://realestate.aol.com/blog/2011/01/04/keeping-your-landlord-in-check-in-2011/#commentsThe landlord tenant relationship is a notoriously difficult one. More often than not, it's an unbalanced struggle of power. But there are measures that tenants can take to keep the peace at home.

Renters shouldn't live in a place that barely passes code, but rather a place of comfort and safety lasting more than a 12 month lease. With 2011 in motion, here are a few details worth battling with your landlord before their apathy, laziness and frugality drives you to seek the next rental.




1. Know that you deserve to live in a habitable property that is properly repaired.
Be aware of your "implied" warranty of habitability. It's in your lease and it requires the landlord to keep the apartment in a habitable condition, says Michael Kozek, a real estate attorney with Jeffrey S. Ween & Associates in New York.

"If there is a condition in the apartment that requires repair, the tenant should inform her landlord of it, and request a repair," says Kozek. "If the landlord refuses, the tenant (in this case a New York tenant) should
Find Apartments and Homes for Rent
Find the perfect place to rent in your area on RentedSpaces
See Apartments for Rent
See Homes for Rent
contact the New York State Department of Housing Preservation and Development, which oversees housing standards, by dialing 311 and lodging a complaint.

HPD will send an inspector to inspect the complained-of condition. If the inspector issues a violation, the landlord is required to repair the condition within a certain time frame, and will be subject to civil penalties if it does not comply." Apply this chain of command depending on what city or state rules apply.

2. Use the free resources that cities and states afford to tenants.
As difficult as landlords can be, take comfort in knowing that as a tenant, there are a bevy free resources available. Many cities have websites dedicated to housing issues, and provide links and forms specifically designed for filing complaints and lawsuits, says Michael Heyse, a trial attorney for the Justice Department in Washington, D.C. Familiarize yourself with them, and use them.

3. Try to keep a stable rent and maintain some control over rent increases even when you don't have a rent-stabilized apartment.
Tenants don't have a lot of leverage when it comes to controlling rent increases, so the best way to keep the rent down, particularly during a recession, is to early on work out a mutually beneficial arrangement between the landlord and tenant for a longer term lease.

"The landlord will usually agree to a lower rent if their rental income is secured for a longer period of time," says Kozek. "The tenant gets the benefit of a lower rent for the longer period, and doesn't have to worry about a rent increase after, say, one year."

4. Always do due diligence in protecting yourself from landlords who unfairly practice security deposit docking.
The best way to protect yourself form any unfair charges is to leave the apartment in the best possible condition upon vacating it. But also important is to take photographs of the apartment in its vacant state.

"Inform the landlord that the photos exist," says Kozek. "A landlord will feel a lot less comfortable about claiming that the apartment was not left in an adequate condition upon vacating if they know that the tenant has evidence that the apartment was in good condition."

5. Don't let the developer cheat you out of a rent-stabilized home.
Be wary of developers who act illegally by taking tax benefits for converting commercial buildings into residential ones, only to fail to submit the converted units to rent stabilization, which is required by law.

"[There are] landlords [who] take these tax benefits, which subsidize their conversions, and then knowingly charge illegal levels of rent to the tenants, who are supposed to be rent stabilized," says Kozek. "There are large formerly commercial buildings, advertised as "luxury rentals," that were converted under the tax benefit programs. The tenants have no idea that they are entitled to rent stabilization or that their landlord is screwing them. The apartments are subject to rent stabilization, the tenants are entitled to any amount that they have been overcharged, and the landlords are potentially subject to severe penalties for their deception."

6. Don't rely on withholding rent as a means to get back at your landlord can backfire.
Oftentimes this type of action ends with a landlord commencing an eviction case against the tenant for failure to pay rent, says Kozek.

7. Represent yourself well in a courtroom, if that's where you end up taking things.
If you've had to take it far enough where you're in a courtroom over your home, don't mess it up now. Arrive early, be prepared to spend all day there, and dress respectfully, says Heyse. You don't want to start off on the wrong foot, when you're in the right.

"The docket will likely say your case starts at 10am; but that's really your case and about 150 others," says Heyse. "In D.C., they run roll call starting about 9 or 9:30. If you miss your name being called, they will dismiss your case; or, if the landlord is suing you for unpaid rent, they will grant a judgment to the landlord."

Want to know how to deal with other rental issues? Here are some AOL Real Estate guides that can help:

 

Permalink | Email this | Comments

]]>landlord issuesLandlordIssueslandlordsrental tipsRentalTipstenants rightsTenantsRightsShira Levine2011-01-04T13:49:00 00:00Did Norah Jones Bring Bedbugs Home?http://realestate.aol.com/blog/2010/11/30/did-norah-jones-bring-bed-bugs-home/http://realestate.aol.com/blog/2010/11/30/did-norah-jones-bring-bed-bugs-home/http://realestate.aol.com/blog/2010/11/30/did-norah-jones-bring-bed-bugs-home/#commentsFiled under:

Starting Dec. 3, singer Norah Jones -- along with all other New York City residents -- will have to help fight the bedbug infestation crawling through the city by following new rules enacted by the New York City Department of Sanitation. Jones, who recently was alleged to have brought bedbugs to the Brooklyn neighborhood of Cobble Hill, will be required "to fully encase within a sealed plastic bag all mattresses or box springs being discarded for DSNY collection."

Jones, the platinum-selling indie singer and daughter of international superstar sitarist Ravi Shankar, has been accused of bringing a bedbug infestation to the neighborhood when she moved her furniture into her brownstone.
Jones, 31, was slapped with the bedbug-related lawsuit following the home renovations (that includes a pool) she commissioned for her $4.9 million pad.

Under the new rule, the sanitation department hopes to curb bedbugs from squatting in the crevices of homes and apartments such as Jones' and her neighbors'. City residents who fail to follow the new rules properly will receive full enforcement of the $100 fine starting Jan. 3, 2011.

Find Local Homes for Sale
Browse through photos of millions of home listings on AOL Real Estate
See Homes for Sale
Search Foreclosures for Sale
Whether or not Jones has bedbugs and has infested Clinton Hill is debatable. Teri Karush Rogers, of BrickUndergroundNY however, has advice on what to do if you suspect that you, your neighbor or someone else in your neighborhood has been terrorized by the pesky residential stigma that is bedbugs.


If you suspect that your neighborhood has an infestation ...

1. Don't pick up furniture off the curb -- even when it's fabulous. Unless you plan to take that gorgeous Victorian headboard to a fumigation facility, leave it where you saw it. There's a reason such a nice piece of furniture has been discarded.

2. Talk to the super or whomever is in control and in charge of the upkeep of the building. If it's an adjoining building talk to your building super and the super next door. In older buildings it is rare, but bedbugs can come through the walls.

3. Makes sure the mattress, furniture and trash are sealed properly for disposal. There are special bags that can be bought at Home Depot that contain and seal your old belongings correctly.

4. Once home, leave your shoes and bags/purses by your door. You want to keep them away from your sofa and bed, in case you stepped on a bedbug egg. Rogers suggests throwing those items in the dryer for an hour if you're feeling extra paranoid. The high heat will kill those eggs. Those still apprehensive about entering a movie theater should avoid putting anything on the floor.

5. Be polite, friendly and sensitive if you have to approach your neighbor about this embarrassing SNAFU. There is still a stigma to having bedbugs and people will certainly be on the defensive. Find a way to figure out how how they are handling their infestation and determine if it's the best way. Especially if the victim is a friend, you might consider not bringing a bag or coat over when you stop by. Also beware of kids and housekeepers transporting those bedbugs from home to home.


If you suspect your building or your apartment has an infestation ...

1. Contact the building's management company and/or any board your building is a part of. Make the people in charge aware of the problem so that they can bring in an exterminator immediately. Some buildings use less-than-spectacular exterminators, so you might want to hire your own, in addition. Note: Renters insurance doesn't cover these costs and many landlords/management companies won't cover additional exterminators. Rogers says to be careful when involving any housing courts, as it can leave a black mark on your record for future renting situations. Rather, it's always nice to have a lawyer friend who can draft a letter that puts pressure on the landlord and management company to do the right thing.

2. Make sure the inspectors and exterminators concentrate on all the apartments surrounding the infested one. The exterminator should follow a "clover leaf formation" that includes apartments above and below, in addition to those on either side. The protocol, says Rogers, is to keep inspecting each unit until they all come up clean. Always ask the exterminator what his or her process is.

3. Seal your apartment and defend your perimeters. That includes every crack or crevice, electrical socket -- anywhere the odor of cigarette smoke could get in is where a bedbug could come in as well. The exterminator will be blowing diatomaceous earth dust into those crevices to create a permimeter that cuts those little critters open and kills them. One common fear concerns pets, but Rogers says that pets do not get infested with bedbugs.

4. Buy a mattress protector that encases the mattress on your bed. Choose a high quality one that doesn't rip and has a tough zipper lock. Include in your purchase intersector traps. These are like little coasters for your bed legs which prevent bedbugs from crawling up and making your bed their new home.

5. Steer clear of the communal laundry room! If you must, though, avoid any folding tables or communal carts (especially canvas-covered ones).

For more on bedbugs and related topics see these AOL Real Estate guides:


More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>bed bugsbed bugs outbreakbedbugsbrooklynbrooklyn real estatecelebrity real estatecobble hillNorah JonesShira Levine2010-11-30T13:15:00 00:00Nina Garcia: Apartment Too Small for New Baby?http://realestate.aol.com/blog/2010/11/30/nina-garcia-new-mom-is-selling-apartment/http://realestate.aol.com/blog/2010/11/30/nina-garcia-new-mom-is-selling-apartment/http://realestate.aol.com/blog/2010/11/30/nina-garcia-new-mom-is-selling-apartment/#commentsFiled under:

"Project Runway" has been good for Nina Garcia's confidence and her real estate listing reflects her moxie. The "Project Runway" judge, who also adds bestselling author to her repertoire, and her husband David Conrod have listed their Upper East Side two unit co-op for $8.5 million -- almost double what they originally paid.

Considering that Garcia just gave birth yesterday to the couple's second son, Alexander (8 lbs., 13 oz.), the need for more space may be part of her motivation to sell.
The power duo began the creation of their large pied-a-terre on Manhattan's East 66 Street back in November 2005 when they scooped the larger of the two residences in the Gothic prewar building. A few months later, they nabbed the adjacent unit, bringing the grand total spent to $4,921,900. That means Garcia and Conrod, a managing director at Guggenheim Capital, estimate that their high-end renovations in all of the eight rooms (previously 12), four bedrooms and three bathrooms, are worth more than $3.5 million.

Search Millions of Home Listings
View photos of homes for sale and apartments for rent
See Homes for Sale on AOL Real Estate
See Rental Listings on RentedSpaces
Naturally, the place the Marie Claire fashion director and no-nonsense "Project Runway" judge calls home is perfectly laid out with European elegance, and what appears to be Tim Gunn-approved drama. Think 11.5-foot ceilings, five oversize south-facing picture windows, a master suite with two impressively large dressing rooms, a round library and a staff room.

A stunning entryway leads into a corner living room and a dining room that are separated by double pocket doors. Together, the rooms make for killer entertaining space. Hopefully someone has time to cook, because the kitchen easily classifies as haute with Subzero and Gaggenau appliances.

And most importantly, Garcia's building (constructed in 1906 by architects Harde & Short for Charles F. Rodgers) has an additionally wallet-killing location. Madison Avenue is the cross street, so the world's best shopping is aplenty. Central Park is a few blocks away, too.

So why leave such majesty? Probably the pad is too small for Garcia and her growing family.

If Garcia gets what she's asking for, she'll have done a lot better than fellow "Project Runway" host Heidi Klum. Back in 2008, Klum and her husband, Seal, sold their WestVillage six-room duplex co-op, with hot tub and rooftop deck, on Bank Street for just $5.35 million.

See other homes for sale in Manhattan at AOL Real Estate.
See rentals in Manhattan at AOL Real Estate.

These AOL Real Estate guides can help, whether you're in the market to buy, rent or sell: More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 Comments may refer to photos no longer available for viewing at this site.

 

Permalink | Email this | Comments

]]>celebrity real estateheidi klumNina Garcianina garcia alexandernina garcia new babyproject runwayupper east sideShira Levine2010-11-30T10:08:00 00:00Kathleen Turner Sells Low in the Hamptonshttp://realestate.aol.com/blog/2010/11/29/kathleen-turner-sells-low-in-the-hamptons/http://realestate.aol.com/blog/2010/11/29/kathleen-turner-sells-low-in-the-hamptons/http://realestate.aol.com/blog/2010/11/29/kathleen-turner-sells-low-in-the-hamptons/#commentsFiled under:

"Californication's" Kathleen Turner hasn't had an easy time in the Hamptons real estate market. Five years since she listed her weekend beach home in Amagansett, N.Y. for $8 million, she's now finally unloading the property for less than half her original asking price -- at only $3.9 million, says the Long Island Real Estate Report.

(Turner first tried to sell the property in late 2007, shortly after her divorce from her real estate magnate husband, Jay Weiss.)

Fortunately for Turner, that $3.9 million is still something of a profit, though.
Turner initially purchased the Bluff Road home, which sits across a 25-acre preserve, in 1990 for $488,500. The 5,000-square-foot historic East Hampton home was built in 1903 and has six bedrooms, 5.5 bathrooms, five fireplaces, two living rooms, an eat-in kitchen, butler's pantry and original leaded-glass window. (See photos below.)

Search Homes for Sale
Browse through photos of millions of home listings or search foreclosure listings
Outside, the property has a heated Gunite pool, hot tub, pool house and a separate three-car garage.

Turner, who has starred in movies such as "Romancing the Stone" and "The Virgin Suicides," and most recently made appearances on Showtime's "Californication" series, has her own flair for design -- she's apparently added extensive renovations to the residence over the last few years.

According to experts, renovating a home usually is a smart move if you want to get some bang for your buck when it's resale time. Sadly for the husky-voiced Turner, those renovations on her lovely-yet-understated beach house didn't amount to the extra $4.1 million she was hoping for.

The sweeping, unobstructed ocean vistas are worth every penny, as is the location, which is comparatively removed from the hell that is Hamptons traffic come summer.

See other homes for sale in Amagansett, NY at AOL Real Estate.
See rentals in Amagansett, NY at AOL Real Estate.

For more on related topics see these AOL Real Estate guides:
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

Comments may refer to photos no longer available for viewing at this site.

 

Permalink | Email this | Comments

]]>californicationcelebrity real estateeast hamptonhamptons real estateKathleenTurnerShira Levine2010-11-29T11:39:00 00:00Remodeling: When It's Worth the Costhttp://realestate.aol.com/blog/2010/11/22/remodel-if-youve-got-the-cash/http://realestate.aol.com/blog/2010/11/22/remodel-if-youve-got-the-cash/http://realestate.aol.com/blog/2010/11/22/remodel-if-youve-got-the-cash/#commentsIs remodeling your home still worth the investment? Since refinancing isn't what it used to be, and because there are so many homes on the market, there's a new school of thought about remodels.

A recent article in CNNMoney said no, because remodeling your home now doesn't necessarily give homeowners the greatest of returns if they want to turn around and sell: Only 60 cents on the dollar, according to Remodeling Magazine's "Cost vs. Value" survey on remodels. But not everyone is convinced.
"With interest rates at historic lows, this is a great time for people who are not planning on selling right away to take advantage of these low rates on home equity loans to do the projects that they have long been putting off," says Seth Levin, a broker with Prudential Douglas Elliman in New York City.

Even for those who are looking to sell, home remodeling still might make sense -- in terms of personal psychology and marketing. "People will be much quicker in making an offer when they see the home is already done," says Sarah Fatima Parsons, a broker at Halstead in New York. "People don't initially want to take on a renovation. Even if they end up ripping it all out later, it was done to begin with."

If you're sitting on the fence about home remodeling, the following can help you decide, and can help you remodel efficiently and economically.


1. Seek the bargains, steals and deals.

Materials are much more affordable for remodeling because retailers are looking to make a sale.

"If you're investing in your home, and you're planning on staying there for a while, then why not spend the money to have the perfect space?" says Glen Seidlitz, a carpenter and interior home remodeler based in Austin, Texas, who owns the company Six23. "If you're looking for resale, you'll probably never make back your entire investment, but it might be the thing that helps sell your house and not take a huge hit on the sales price."


2. Speak with home improvement experts and real estate sales brokers and agents about what is worth doing, and what isn't.

Low-end-of-the-market-buyers may simply discover that there are finishes that they will do that won't enhance a sales price at all.
Real Estate
Essential How-To Guides on AOL Real Estate: Home Buying, Selling, Renting, Moving and Home Improvement
"However, in the high-end market, my clients looking for multi-million dollar homes are passing on properties that do not have a high enough level of renovation," says Levin, who adds that they prefer "new constructions and newly remodeled resale properties -- even if the unrenovated properties are priced considerably lower.

"In the high-end market a seller should seriously consider updating before placing their apartment on the market," he says. "Buyers still believe that they have the luxury of time to see what else is out there before jumping on properties that they deem mediocre."


3. Choose simple-yet-sleek affordable home brands for your renovations, if on a budget.

Going over the top with personal style may mean a lot to you, but your personal taste doesn't translate well with that of a buyer's personal taste. If researched and done right, home remodeling can cost much less than expected.

"I always tell my clients to remodel with Ikea," says Parsons. "I suggest Ikea over Home Depot and to choose simply: white cabinetry with backsplash, granite. Keep it simple and sleek. You always have to do white. Don't even think of imposing your own taste on the potential buyer."


4. When remodeling, prioritize those home renovations room by room, project by project.

Typically, kitchens bring the most value, then bathroom renovations.

"You always get more than you put in with a kitchen renovations," says Parson. "I've seen sales where a renovated kitchen brought back 10 times more than was invested. This especially works if you put in a little sweat equity and do your kitchen all yourself. You should never leave in those old appliances, tiles and formica countertops. They look unappealing and nasty and can make a place look uncared for and sad. Never buy black or white appliances. It looks cheap. Silver aluminum looks the best for appliances and it will cost just $100 more for that better image.

"Painting, both interior and exterior, is an easy and inexpensive way to change the look of your home," says Seidlitz.


5. Allow for a decent time-frame to get the remodeling done before putting the property on the market.

Every job is different and planned renovations often take longer than anticipated, so factor those random, unexpected hiccups and delays if you're in a hurry and like to be in control of the process. Communicate a reasonable time frame with your contractor.

"If you're doing a full renovation of a 10-foot-by-10-foot kitchen, budget six to eight weeks," says Seidlitz. "A bathroom is about four weeks. Fully painting a 1,500-square-foot house could take up to two weeks, depending on how much prep work needs to be done and how many coats you want."

Parsons estimates that a solid Ikea renovation can cost $10,000 for the kitchen, $5,000 for the bathroom, $2,000 for better closets, and around $1,500 for an interior paint job.

The right time to remodel is simply the time when you have some extra cash. But if you're going to do it, give yourself some time before listing the property.

"Allow yourself three to six months before you put your property on the market," says Parsons.


6. Most of all, while you're living in it, enjoy your home.

Even if you bought your home at the top of the market and don't plan to sell in the near future, says Levin, investing in a remodel to make your home an enjoyable place to live is never a bad idea.

For more on home remodeling and improvements see these AOL Real Estate guides, whether you're selling or staying.
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>Home Depothome remodelhome remodelinghome renovationikeareal estateremodelingresellingShira Levine2010-11-22T15:45:00 00:00Lady Gaga Buying a Scottish Castle?http://realestate.aol.com/blog/2010/11/18/a-scottish-castle-fit-for-a-lady-gaga/http://realestate.aol.com/blog/2010/11/18/a-scottish-castle-fit-for-a-lady-gaga/http://realestate.aol.com/blog/2010/11/18/a-scottish-castle-fit-for-a-lady-gaga/#commentsFiled under:

Flamboyant pop chameleon Lady Gaga has been unloading some of her newfound wealth by trying on some top properties as if they were wild pants-free costumes. Most recently, reports say, her interest in real estate has been piqued by something more stately and remote (although still showy). The Lady is said to have made an offer on a Scottish manor.

The 24-year-old singer apparently has gone gaga for what is said to be the most expensive piece of real estate in Scotland -- an £8-million, 17th-century castle with 60 rooms and set on 200 acres.
A Scottish castle (pictured below left) is quite a different residential style direction from the $14.95 million penthouse in Tribeca she currently enjoys. Or her Los Angeles 6,143 square-foot rental (below right) that rocks six bedrooms, eight bathrooms, a resort-style infinity pool, marble floors, an office, gourmet kitchen, and outdoor eating area. She's been paying $25,000 a month to live there and apparently is looking to buy. (Back in 2009 it was listed for $4.75 million.)

Then there's also those rumors that she considered purchasing a Hamptons beach house in Sagaponack and another summer home in Martha's Vineyard. Other buzz includes a $21,000-a-month 3,000-square-foot penthouse at 304 Spring Street. That one is a bit more private as it boasts a 1,200-square-foot private roof deck with an outdoor Viking kitchen and an outdoor shower one can only imagine the "Paparazzi" singer will eagerly use

But beyond the East and West coasts of the United States, Scotland and the north of England have also become a desired destination for the singer. She's said to love of the UK's countryside and fortunately for this lady, the market is low and static. The castle of reported interest is called Yester House and two years ago it was listed for £15 million.

Like many young girls, Gaga, otherwise known as Stefani Germanotta, dreamed as a child of living in a castle. Indeed with the success of music career, the singer can afford to explore such fantasies and make them realities.

Of course, fellow popstar Madonna is believed to have influenced the performer's inner homebody. Already with a similar music career as the elder icon, Lady Gaga appears to trust Madge's taste for living well.

If Lady Gaga does does end up a Scottish homeowner, she wont be alone. Bob Dylan has a £2 million estate in the Cairngorms. Bill Clinton expressed interest in the £3.75 million Strathearn Lodge. Donald Trump is developing a top golf resort near Aberdeen.

Search Millions of Home Listings
View photos of homes for sale and apartments for rent
See Homes for Sale on AOL Real Estate
See Rental Listings on RentedSpaces
Still, really fancy real estate isn't totally a priority for Gaga. Earlier in the year she announced that her real home was the stage and didn't mind the touring life of living out of suitcases and crashing in high-end hotels. So she may just keep everyone guessing and hole up in her old Lower East Side pad that she's described as, "the cheapest apartment I could find and ate s-t until somebody would listen."

See homes for sale in Manhattan at AOL Real Estate.
See rentals in Los Angeles, CA at AOL Real Estate.

These AOL Real Estate guides can help, no matter whether you choose to buy or sell:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

Comments may refer to photos no longer available for viewing at this site.

 

Permalink | Email this | Comments

]]>celebrity real estatehigh-end real estateLady GagamadonnaScottish castlesShira Levine2010-11-18T15:24:00 00:00Buyer's Market Doesn't Always Mean Buyhttp://realestate.aol.com/blog/2010/11/10/buyers-market-doesnt-always-mean-buy/http://realestate.aol.com/blog/2010/11/10/buyers-market-doesnt-always-mean-buy/http://realestate.aol.com/blog/2010/11/10/buyers-market-doesnt-always-mean-buy/#commentsFiled under:

Just because it's a so-called buyer's market doesn't mean it's the right time for all potential buyers to purchase a new home. There are a lot of factors to consider before sinking money into a "great deal." A rushed and hasty purchase can be a costly mistake.

Just because experts say the time is right, doesn't mean such a large investment should be made right now.

Gary Malin, president of Citi-Habitats shared some of his philosophies on what to consider before signing a contracts:

1. Don't let emotions dictate decision-making

Patience is a virtue. Don't make a big decision like buying a home when you're sick of house hunting.

"Do your due diligence to make sure what the listing says is accurate is really accurate," says Malin. "People get tired after deals fall through or they don't quite find what they want after spending a lot of time looking."


2. Don't go at it alone

Trying to shortcut the process to save money can actually cost you more. With the transparency of the Internet, many buyers feel confident that they can find a new home without a broker, as they are especially attracted to the idea of not having to pay a commission. This isn't the best way to cut corners.

Search Homes for Sale
Browse through photos of millions of home listings or search foreclosure listings
"They think they can get a better deal without a broker," says Malin. "That can turn into a mistake, because no one is advocating for the best rates but you. You don't have the market knowledge an expert does. You don't know what concessions are offered out there, what buildings are being traded for, long-term details about the neighborhood, etcetera." (Also see: "How to Choose a Realtor.")


3. Get to know your neighborhood

That means walking around and checking it out at night and on weekends -- not just a sunny weekday tour of the area.

"People often discover the neighborhood they bought into isn't actually the ideal neighborhood for them once they settle in," says Malin. Make sure to note how commercial your 'hood is, or how quiet. Is it far from work? These details may seem small but are worth analyzing before signing a contract and potentially hating where you live. (Also see: "Buyers Beware: Was That House a Crime Scene?")


4. Don't buy based on price

Buyers tend to focus only on money. If cost is your highest priority you may miss out on details that leave you not loving your new home. (Also see "How to Negotiate a Home Purchase.")


5. Don't believe everything you read (on the Internet especially!)

Just like you shouldn't diagnose your ailments via the Internet, you shouldn't rely on the Internet alone when buying a home.

"There's too much info on there for people," says Malin. "Now people think they are experts in the real estate field when they aren't. You need to be able to interpret and apply that info for effective negotiations." (Also see "How to Find a New Home Online.")


6. But still do plenty of research about the market, and also about yourself

The more info you have, the more informed your decision can be. You should know about developers with bad reputations, crime statistics, the quality of the school system, etc.

"Figure out if you are looking to make a long-term decision or short-term," says Malin. "If you have a three to four year time frame you want to live in the space, then it might not make sense financially to buy. You really have to be willing to live in an apartment or home for at least five years in this market."


7. Arm yourself with a good team

Besides a broker, you should have a good lawyer and accountant.

"You don't want to be locked in spending a significant amount of money and wish you'd had the help of some experts prior," says Malin. (Also see "Closing Costs: No Surprises.")


8. Don't obsess over square footage

Buyers have a tendency to focus on numbers without considering layout and logistics. A high number in square footage isn't going to matter if the layout is inefficient. Have your furniture and lifestyle in mind when looking at a new home.

"You don't box yourself into these tight parameters because you might miss what is actually the best deal for you," says Malin.


9. Ask a lot of questions

Keep asking questions until you get the information you need and you feel comfortable with what you are learning from your broker or agent.

"If you don't get what you want, move onto another person," says Malin. "Always look for a referral. You want someone who can vouch and say they had a good experience."


10. A good price doesn't mean you should buy

A well-priced market may not have any product that you're interested in. Don't settle! And make sure the prices truly work for you. Interest rates and maintenance fees can bust your monthly budget and price you out of the new home experience. (Also see "How Much Home Can I Afford?")

"The idea of 'the bottom' is something people obsess about," says Malin. "History tells us that when you've realized the bottom has hit, you've actually already missed it."

Remember, no one can force you to buy a new home, so the decision is yours -- make it well-thought-out and wise.

For more insights on buying a home see these AOL Real Estate guides:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>buyers marketBuyersGuidedown markethome priceshome salesmortgage ratesreal estateShira Levine2010-11-10T12:55:00 00:00Amanda Seyfried's Big NYC Condo Buyhttp://realestate.aol.com/blog/2010/11/04/amanda-seyfried-makes-a-big-nyc-buy/http://realestate.aol.com/blog/2010/11/04/amanda-seyfried-makes-a-big-nyc-buy/http://realestate.aol.com/blog/2010/11/04/amanda-seyfried-makes-a-big-nyc-buy/#commentsFiled under: ,

Actress Amanda Seyfried of "Letters to Juliet," "Big Love," "Mamma Mia!"and "Mean Girls" fame knows how to pick winning roles and buildings. She wanted one of the 103 condos in New York City's Devonshire House bad enough to pay $250,000-plus more than the $1,875,000 asking price of just over $1.9 million for a two-bedroom, two-bathroom unit on the fourth floor.

Although her purchase was made over the summer, word didn't hit the Internet sooner because she purchased her pad through an LLC (Limited Liability Partnership) that does not identify its owner.

Devonshire House was famous long before the 24-year-old actress was born. An Emery Roth-commissioned building (the Duke of Devonshire requested a tower inspired by his London home), it has also been a home to fellow actress Gwyneth Paltrow and playwright Neil Simon. (He leased one of the penthouses.)
Search Homes for Sale
Browse through photos of millions of home listings or search foreclosure listings
Seyfried told an interviewer this year that she had to work her tush off to land such living space. She apparently excuses her many roles in romantic comedies as her way to purchase high-end real estate.

Devonshire House is located near New York University in the Central Village area of Greenwich Village. The brick and terra-cotta building underwent a massive renovation from rental building to ownership building -- although the shift has been gradual with about half of its units for sale.

The lobby walls were hand-painted to achieve a "wood-graining limed-oak" faux finish which took a month for two artists to complete. The lobby retains its original stained glass, the Devonshire family crest and a few Corinthian columns as well. The crest appears throughout the building -- particularly on the doorknobs of many apartment units.

At $4.9 million, there's a four-bedroom, 3.5-bathroom unit with 2,720 square feet that Seyfried passed up. She also decided against the one-bedroom penthouse located in the tower. The Rapunzel-esque unit is 1,100 square feet and has a 1,500 square feet for its terrace.

See other homes for sale in Manhattan, NY at AOL Real Estate.
See rentals in Manhattan, NY at AOL Real Estate.

These AOL Real Estate guides can help, no matter whether you choose to buy or sell:
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

Comments may refer to photos no longer available for viewing at this site.

 

Permalink | Email this | Comments

]]>Amanda Seyfriedbig lovecelebrity real estateDevonshiregreenwich villageGwyneth PaltrowLetters to JulietNeil SimonShira Levine2010-11-04T10:57:00 00:00Damon Dash's Funky Real Estate Dramahttp://realestate.aol.com/blog/2010/10/25/damon-dashs-funky-real-estate-adventures/http://realestate.aol.com/blog/2010/10/25/damon-dashs-funky-real-estate-adventures/http://realestate.aol.com/blog/2010/10/25/damon-dashs-funky-real-estate-adventures/#commentsFiled under: ,

The year 2010 hasn't been a good one for hip hop mogul Damon Dash. He certainly could have used a good financial coach to avoid losing his two multimillion-dollar Tribeca lofts to foreclosure after he reportedly stopped forking over $78,504.20 in monthly payments.

Especially now that the one that was once his prized Tribeca duplex on New York City's North Moore Street is back on the market mere months later.

This time it's listed for more than Dash ever even tried to sell it for himself. Auction-winner Edward Farrell of Platinum Capital scored it for $5.5 million back in July and currently is trying his hand at flipping it for $7.995 million. (Dash paid $3.875 million for it and unsuccessfully tried to resell it for $7.9 million a few years ago.)

Bad money decisions don't bode well with the ladies. Dash might have had an easier time dodging the divorce of his wife, fashion designer Rachel Roy if he'd employed the right relationship counselor instead of auditioning butlers.

We took a tour of the Dash crashpad, and while it is impressive at over 5,000 square feet, we noted how much Dash might have gained from the help of a feng shui expert. Within its walls were some of the stranger logistical and style decisions that money can buy.
The three-bedroom, four-bathroom, one-media-room lair looks more hip-hop-CEO-office-space than hip-hop-CEO-living-space (see photos below). The master bedroom is located on the second level and has a glass wall that opens out to overlook the dining room. There's something far too voyeuristic and distracting about being able to see the bedroom through glass, especially for the children whose rooms are both around the corner and just down below.

"These are special units sold as raw spaces for buyers to develop on their own," says Prudential Douglas Elliman's Leonard Steinberg about the building that was first built as a cold-product-storage facility.

Find Local Homes for Sale
Browse through photos of millions of home listings on AOL Real Estate
See Homes for Sale
Search Foreclosures for Sale
Dash and his architects put in a spiral staircase to connect the two floors. The stairs are located in between the south-facing living room and dining room -- both impressive spaces and ideally set up for someone who collects significant fine art. (Lighting already is installed for large-scale artworks.) The walnut kitchen is open and boasts a double-wide stainless steel Sub Zero and professional range and hood. Above the dining room table hangs a massive chandelier from a 20-foot ceiling, reflecting more light through that glass wall.

Because the building previously stored ice, there weren't any windows. Dash and other tenants were able to blow out their own.

Most worthy of comment is where Dash once kept his collection of more than 1,000 pairs of shoes (mostly sneakers). There is a 600-plus-square-foot closet space that resembles the dressing room of an Old Navy or Gap with four maze-like hallways flanked with shelves, clothing rods and mirrors. (Although the listing describes the master suite's closet space as "sensational Joan Crawford-worthy.")

The paneling is that light beechwood color and the lighting feels florescent. Perhaps ideal conditions for someone who rocks his own urban-suburban clothing lines?

See other homes for sale in Tribeca at AOL Real Estate.
See foreclosures in Tribeca at AOL Real Estate.

For more on related topics, see these AOL Real Estate guides:
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Get property tax help from our experts.

Comments may refer to photos no longer available for viewing at this site.

 

Permalink | Email this | Comments

]]>atalantacelebrity real estatedamon dashForeclosurestribeca real estateShira Levine2010-10-25T12:34:00 00:00Carell's Next Role: In Real Estate Office?http://realestate.aol.com/blog/2010/10/21/broker-gets-star-turn-as-steve-carell/http://realestate.aol.com/blog/2010/10/21/broker-gets-star-turn-as-steve-carell/http://realestate.aol.com/blog/2010/10/21/broker-gets-star-turn-as-steve-carell/#commentsFiled under: ,,

Steve CarellIt's not every day a real estate broker gets a call from Steve Carell of "The Office" fame (pictured left). Especially when the call isn't about the actor wanting to buy some South Florida property. Rather, Carell called because he found Boca Raton real estate agent Dennis Lambert's life fascinating enough to turn into a feature film (starring Carell, of course).

Lambert, 63, has lived two very full lives professionally. In the 1960s he started out a songwriter and music producer. Today he focuses his energy selling beachfront properties in South Florida. Lambert doesn't just have a wall full of gold records, he also has a large, dedicated Filipino fanbase who essentially kicked the whole story off with their passionate and persistent requests for a comeback concert tour. (Filipinos weren't the only ones to recognize him. Variety calls Lambert "an unsung hero of pop culture.")

Carell discovered Lambert after seeing the award-winning documentary "Of All the Things," which Lambert's son shot when the singer made that trip. Adapting the humorous documentary was a no-brainer to Carell and Hollywood studio execs given that Lambert co-wrote many hits, including: "Ain't No Woman (Like the One I've Got)," "One Tin Soldier," "Baby Come Back," "Nightshift" and "We Built This City," and co-produced "Rhinestone Cowboy."

The added story tension is already built in. Lambert chooses to sell the heck out of houses in a down market while quietly boasting career accolades, such as having four songs simultaneously on the Billboard Hot 100 chart.

AOL spoke with Lambert about this developing cinematic appreciation of his life and career, as well as what he knows second best: real estate.


A movie about your life is pretty flattering -- what do you know about it so far?

Lambert (pictured below during a concert): When I went to the Philippines to perform a few years ago, it turned out to be a magical few weeks for us. My music was well known there, and it was surprising. It provided us with an exotic, beautiful backdrop. The documentary found its way to the movie studios, who thought it could be an interesting movie to remake with a Hollywood cast.

Warner Brothers Pictures and Steve Carell took an interest. They're now developing it. The script is being written as we speak, so we'll see if it makes it. My son is the executive producer of the film and has been doing a lot of powwowing with the powers that be in Hollywood and Steve's group.


Dennis Lambert, unsung lyricist behind Rhinestone Cowboy and many others.Is Steve Carell the person you saw playing Dennis Lambert?

Steve Carell wasn't the first person I thought of to play me. I imagined Tom Hanks or Dustin Hoffman because they're more my age, but Steve Carell is a terrific star.


Why did you go into real estate when you had such a prosperous songwriting career?

I'd always been involved in real estate as an investor when I was younger. I found myself drawn to a combination of opportunities. I liked making money and I liked dealing with the aesthetics of real estate -- how you could design, build and sell something was attractive to me. Later on, I got involved more squarely in the residential area as my focus.

I worked in New York and then I moved to South Florida and fell in love with selling beautiful homes in South Florida. I love walking into those beautiful properties and realizing what you can create. This is also a career where you can be creative and make money doing it.




What is it about Florida real estate that most appeals to you?

I've been in Florida for seven years and have sold and brought buyers to some of the most gorgeous settings. Most of the homes are gorgeous Mediterranean, West Indian-style and [Addison] Mizner-influenced homes. There are just so many lovely spaces -- from oceanfront to inter-coastal -- to share with people.


Did you end up selling homes to many of your music industry contemporaries?

I sold to a few friends from the entertainment business, but not everyone knows I switched to real estate. They don't know what I've been up to until now. With all this heightened press making everyone aware of what I am up to, I'm sure that will change.


Change in real estate would be good in this market. How has it been personally for you?

It's gone fairly well, but we all have had this seriously depressed market for the last three-and-a-half years. It's been particularly difficult for people who make a living solely in real estate. Most of those folks have had to find other things to do.

I had my music career, which has still been kind to me, to fall back on with a significant amount in royalties, so I never rely solely on real estate. I've been able to weather the storm.

The same is true for my partner, Bob Lawten, who came from IBM. These times have been so tough for the market that we knew we could do other things and we wouldn't be missed -- so little was going on.


Essential How-To Guides on AOL Real Estate
Home Buying
Selling a Home
Renting and Moving
Home Improvement
So you never totally stopped your music career.

I was still doing some small stuff -- live gigs in various parts of the country when the opportunity presents itself.


Are you seeing any improvement now in the market overall?

Now we're seeing an uptick and renewed interest. We're hitting a new season and we didn't have a hurricane, which is great for business. If this continues we'll be out of the woods.


So will the Florida market recover?

I think, and my contemporaries think, that the market has been ripe for some time now. It's been showing signs of improvement and that significant opportunities are out there. We're surprised because nothing has really materialized yet. Interest rates are at a historic low. There is well-priced to-sell inventory. We are at a 10-year low price-wise. These prices represent prices lower than the run-up before the early 2000s. It's strange, because there's nothing in the way now. All the indications are there for a change. It hasn't happened yet though, but surely in time it will. Still, we're all a little surprised it hasn't happened yet.


Do you have any regrets about pursuing real estate given the market lows?

No regrets. I was always involved in real estate. I bought and rehabbed in California. I've developed some single-family homes. I've got to learn what real estate was all about. I like working with beautiful properties and people who are interested in them. I really like the process.


Are there any abstract parallels we can draw between the music industry and the real estate industry?

It's a stretch, but I think the creative aesthetic that gets people excited about a place is not unlike how people react to music when they are reacting to a song that makes them feel good.


Where do you see yourself in five years? Still in real estate if things start to turn around soon?

I don't think far ahead based on how the last three years played out. I plan for the future, but I don't let the future determine my life. These days, I think about the next two or three months, and it's been a lot more fun. There is a lot of interest in my story, and I now do some public speaking about my story. It's a story of second chances and renewal. Life doesn't end at 60. So who knows what the future holds?

For more on real estate brokers and related topics see these AOL Real Estate guides:
More on AOL Real Estate:
See homes for sale in Boca Raton, FL.
See rentals in Boca Raton, FL.
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

 

Permalink | Email this | Comments

]]>BillboardChartsdennis lambertfilm adaptationflorida real estateHollywoodsteve carellThe Officethe office tv showShira Levine2010-10-21T12:03:00 00:00