There’s Still a Case for Financing Your Next Trophy Home—Even if You Can Pay Cash
Many affluent individuals are hesitant to tie up cash in residential real estate, and experts say borrowing makes sense for some. Read More
BY THE NUMBERS
| CONTENT FROM: Costa Palmas |
 |
Come Home to Elemental Luxury on the Sea of Cortez
Forty-five minutes from Los Cabos airport on the Baja’s East Cape, Costa Palmas is a 1,500-acre community that offers a new superyacht marina, two miles of swimmable beachfront, and an incomparable spirit of adventure. Explore homes of elemental luxury at Four Seasons Resort and Residences or the cosmopolitan Casa Blake, and belong to a warm, inclusive club of adventurers on the Sea of Cortez.
Learn More
|
|
|
TRENDING TODAY
LISTING OF THE DAY
Turns out California’s ‘King of Concrete’ Actually Prefers a Log Cabin
The 55-acre property has guest quarters and open views of Mount Shasta and Lake Siskiyou. Read More
MANSION GLOBAL BOUTIQUE
Wine Expert Jon Bonne’s Must-Haves for Improving the Drinking Experience
Built on eight years of research and countless trips to France, Jon Bonne’s new book, “The New French Wine: Redefining the World’s Greatest Wine Culture,” is out just in time to gift the oenophiles in your life. Read More
NEWS BITES
Forget the Superstitions, the Number 13 May Be Lucky for U.K. Home Buyers
The number 13 might be unlucky for some, but not for savvy house hunters. In an analysis of more than 10 million homes, property portal Rightmove found that those numbered 13 are typically valued at £5,333 (US$6,472) less than the overall average of £360,126. “If living at number 13 doesn’t faze you, it is possible you could find yourself buying against a smaller proportion of the market and therefore do a better deal—but only if you’re lucky of course,” said Edward Thomson, director at estate agent Strutt and Parker Sloane Street. The highest-valued house was No. 1, with an average valuation of £393,690. The Independent
Pumpkins and Cocktails Are How One Agent Is Appealing to Buyers
A realtor on New York City’s Staten Island is offering fun, fall-themed activities at his open houses to entice prospective buyers. Earlier this month Joe Ranola, an associate broker with Matias Real Estate in the borough’s Port Richmond neighborhood, staged a “Spooky Speakeasy” at one one listing, and at another, set up a pumpkin patch and offered apple cider and donuts. He said the atmosphere, along with some social media coverage, resulted in a huge turnout. He received and accepted an offer the following day. “In a place where everyone has a realtor cousin, and at a time that we’re seeing all-time lows in housing affordability, you need to invest plenty of time and money to stand out and last in this industry,” he said. SILive.com
Vancouver’s Luxury Market Showing Signs of Cooling
The softening of Vancouver’s real estate market is spilling over into the luxury sector, with high-end prices slipping, inventory increasing and deals slowing. According to Dane Eitel, founder and lead analyst at Real Estate Analytic firm Eitel Insights, during the peak of active listings last year, the Greater Vancouver area averaged 15 to 19 sales of over C$6 million (US$4.4 million) per month. This September, that number fell by almost 50%. It’s “on the lower side, given our recent history here, especially since the turn of 2020, when we entered into the Covid market and the frenzy really started to boil up to frothy levels,” he said. “We’re definitely starting to fall back on that.” CityNews
U.S. Mortgage Rates at Highest Level Since 2000
Mortgage rates in the U.S. have climbed for the fifth consecutive week, leaving them at a more than 20-year high and putting further strain on would-be home buyers who are also facing elevated home prices and a lack of inventory. The 30-year fixed-rate mortgage stood at 7.57% in the week ending Oct. 12, up from 7.49% the week before, according to data from Freddie Mac. This time last year, the 30-year fixed-rate was 6.92%. “The good news is that the economy and incomes continue to grow at a solid pace,” said Sam Khater, Freddie Mac’s chief economist. “But the housing market remains fraught with significant affordability constraints. As a result, purchase demand remains at a three-decade low.” CNN
AROUND NEWS CORP
A Colorado Mansion First Listed for $37 Million Sells for Big Discount [The Wall Street Journal]
8 Stylish Hotels Packed With Interiors Ideas for Your Home [The Times of London]
Goodness Gracious, Jerry Lee Lewis’ Ranch in Mississippi Is up for Grabs for $1.6 Million [Realtor.com]
Why Refinancing Doesn’t Always Mean the Best Deal [news.com.au]
