The post July New Home Sales: Strongest Release Since 2006 appeared first on Zillow Research.
Hi, I'm Parker Stiles. I'm the owner of Barrington Acquisitions, a real estate investment company operating in Charleston, SC and Atlanta, GA.
We help homeowners sell their home fast.
realtor.com
Eighteen days. That’s the average time a home spends on the market in one of the nation’s 10 hottest ZIP codes.
Realtor.com®’s resident data crunchers recently identified the nation’s most scorching housing markets of the moment, where homes are flying off the market, and the results were a bit of a surprise. No big cities crashed the party.
Instead, the research showed a spike in interest in areas where buyers can get more for their money—where the price per square foot is relatively low and the quality of life is high. Some of the popular destinations, like those in Maine and New Hampshire, seem to reveal a shift in buyers’ interest in getting away from cities and moving closer to more rural areas.
To give you a taste of what you can expect in each of the 10 hottest markets, we plucked a favorite home currently for sale in each ZIP code. If you spot one you like, you had better act fast. These red-hot markets slow down for no buyer!
Have a look at some of these sought-after homes—many of them are priced for far less than you might think.
Price: $849,000
Horse property with a view: For equine lovers, this spectacular home sits on 5.5 acres. The main three-bedroom house was built in 1984 and boasts vaulted ceilings, a stone fireplace, and hardwood floors. Also included are an ADA-compliant guest cottage, loafing shed, and toolshed.
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Price: $275,000
Waggoner Hills: Built in 1995, this four-bedroom home comes with hardwood floors and a basement. The backyard is perfect for entertaining and backs up to the woods for added privacy.
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Price: $92,500
Historic Colonial: Here’s where your dollar will stretch! Featuring a five-digit price tag, this three-bedroom home was built in 1912 and offers 1,448 square feet of living space. Highlights include coffered ceilings, remodeled sleeping porch, and updated electrical systems. The home also has a basement and attic for even more living space or storage, a detached two-car garage, and fenced yard.
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Price: $515,000
Fixer-upper with flair: This two-bedroom home will need a little interior TLC to keep up with the rest of the residences in this high-end hood. But on the exterior, the home’s red paint gives it oodles of curb appeal, adding style to the tree-lined street. The Cape Cod home boasts hardwood floors, is close to transit lines, and offers limitless possibilities to create something spectacular.
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Price: $299,999
Storybook shingle: Ringed with multiple yards, this four-bedroom, 2,253-square-foot home has plenty of space for a family to spread out. Inside, there are hardwood floors as well as a newer heating system. Outside, the shingles add a touch of storybook charm to this Colonial from 1930.
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Price: $229,000
Updated Colonial: This classic center-hall Colonial received a nice little face-lift. There’s a new kitchen with granite countertops, updated bathrooms, and gleaming hardwood floors. The five-bedroom home spans three floors and includes a large backyard. The pretty red shutters and door set against the crisp white exterior make for a picture-perfect residence.
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Price: $649,900
Golf course adjacent: This roomy home features high-end upgrades, including vaulted ceilings, a home theater, and a cedar-lined, screened porch. Custom touches include a kitchen backsplash with tile imported from Turkey. Outside, the 1.5-acre lot runs adjacent to a golf course and includes a large, fenced yard with irrigation, 1,200 square feet of decks, and a shed.
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Price: $575,900
Mixed-use in MA: Opportunities abound! This intriguing three-story home comes with an attached executive suite with three offices, conference room, reception area, and bonus living room. Sitting on nearly a half-acre, the four-bedroom main home measures in at a sizable 4,889 square feet. And don’t worry—parking won’t be a problem—there are six parking spaces plus a detached two-car garage. It’s close to the UMass Memorial Medical Center, shops, restaurants, and schools.
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Price: $675,000
Sweet Springfield: This four-bedroom brick Colonial is a classic bit of Americana built in 1978. Elegantly remodeled and filled with natural light, it’s an ideal family home. The wooded and fenced backyard, complete with pergola, makes it a postcard-perfect property close to the Pentagon and Washington, DC.
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Price: $365,000
Brick beauty: This brick Colonial was built in 2000 and recently received a fresh paint job and new carpet. Sitting on nearly a full acre, the three-bedroom home has a lovely foyer, shiny hardwood floors, and crown molding. Outside, the yard is outfitted for entertaining with a deck and patio.
realtor.com
The post Red-Hot Real Estate: 10 Homes for Sale in the Nation’s Hottest ZIP Codes appeared first on Real Estate News & Insights | realtor.com®.
Hi, I'm Parker Stiles. I'm the owner of Barrington Acquisitions, a real estate investment company operating in Charleston, SC and Atlanta, GA.
We help homeowners sell their home fast.
July home sales numbers continued the stellar pace set in June, skyrocketing to their highest monthly total since 2006 and once again registering their strongest monthly growth ever recorded. Despite the pandemic, which caused sales volume to plummet in March and April, sales volume of existing homes is amazingly just 4.7% below last year's total to this point. And if recent pending sales figures are any indication, the good times are likely to keep on rolling in the near future. However, the longer-term outlook for sales is a little cloudier. A severe shortage of homes available – especially at lower price points - is likely to force these strong improvements to decelerate in the coming months, particularly if heightened levels of economic uncertainty start to weigh on homebuyers' enthusiasm. Rapid home price appreciation might also limit the number of buyers who can benefit from these otherwise rosy buying conditions. But for now, the housing market is red hot and homes are flying off the shelves.
Following last week's fairly encouraging, albeit still historically poor, initial unemployment claims figures, yesterday's news was a disappointing turn and a sobering indictment on the state of the labor market. The 1.4 million initial applications for jobless benefits were a notable increase from last week and an indication that the removal of the $600 weekly boost to unemployment benefits has not resulted in a wave of people returning to work, at least not yet. According to the Economic Policy Institute, there remain 11.2 million more unemployed workers than there are job openings in the U.S. Evidence of a slowdown in hiring activity has also emerged in recent days. And a new report states the extra $300 in weekly unemployment payments included in President Trump's executive order announced last week may only be offered for three weeks, a development that adds to the uncertainty already faced by millions of U.S. workers that are out of work and unsure of their income prospects in the near future.
The continued strife of the job market and the millions unemployed is poised to have a substantial impact on the rental market. The federal eviction moratorium that was included as part of the CARES act expired at the end of July, and while some states have extended the prohibition on evictions, their respective protections vary, and many states have let the program lapse without any renewal. As a response, the Department of Housing and Urban Development (HUD) will reportedly announce a ban on evictions. But the policy will be limited to renters in single-family homes with mortgages issued by the Federal Housing Administration (FHA), according to a report from Politico. The policy's caveat significantly reduces the share of renters that are granted federal protection and sharply increases the risk of a wave of evictions. More than 20% of renters were already behind on rent in July, before enhanced unemployment benefits expired.
Click here to read past editions of Zillow’s Market Pulse updates.
The post Zillow Market Pulse: August 21, 2020 appeared first on Zillow Research.
Hi, I'm Parker Stiles. I'm the owner of Barrington Acquisitions, a real estate investment company operating in Charleston, SC and Atlanta, GA.
We help homeowners sell their home fast.
L. Kasimu Harris for The Wall Street Journal
Hundreds of renters in New Orleans have received eviction notices this summer due to unpaid rent—and local advocates and officials expect the worst has yet to come, right as hurricane season gets under way.
That is because Louisiana’s ban on evictions during the coronavirus pandemic expired in June and the grace period for a separate federal eviction moratorium expires Aug. 24.
Even before the pandemic, 44% of the state’s renter residents were considered housing cost-burdened, according to the Louisiana Housing Corporation, meaning they spent more than a third of their incomes on rent. And at $247 a week, Louisiana has among the lowest maximum unemployment benefits of any state.
Chucked-out belongings are now spotted on some New Orleans street corners. Baby cribs and child car seats, the remnants from forced-out families, sit stacked in piles in 90-degree heat. One Twitter user dubbed the unsightly accumulations “eviction cairns” in the city of 400,000.
With limited public funds on hand, the mayor of New Orleans is asking the public to donate money through Givebutter.com, a website often used by college students for funding charity causes, to raise money for tenants who can’t pay their rent.
Mayor LaToya Cantrell’s effort has brought in about $46,000, according to the website, short of her stated goal of $75,000. That amount would cover three months of rent for 31 families who pay $800 a month or less.
Ms. Cantrell summed it up in a message on her website: “The need simply far outpaces the resources.”
Ms. Cantrell began fundraising shortly after a federal eviction ban expired last month. Cities such as New York and San Francisco have banned evictions during the pandemic to protect tenants behind on rent, but New Orleans hasn’t. It is one of the most susceptible places in the country for mass evictions due to its large, low-wage population facing job losses and other hardships during the pandemic.
The federal government, through existing funding and several relief programs, has supplied $24 million to Louisiana to help renters statewide. But local administrators say their systems have been overwhelmed by the number of requests and little of the money has been distributed. Like the city of New Orleans’ rental assistance fund, it was inundated with applications as soon as it was announced.
“We’re gonna see what happens now,” said Constable Lambert C. Boissiere Jr., whose job is to enforce evictions when people are ordered to leave their homes by court judges.
Most tenants move out voluntarily when receiving an eviction notice. If they don’t, the constable’s deputies step in. As of Aug. 13, Mr. Boissiere said his deputies had enforced 76 evictions since June. One woman, Mr. Boissiere said, locked herself in her bathroom until police officers were called in to get her out.
“It’s sad to see, especially single parents with children that had to be evicted,” he said.
Denike MaGee, a 22-year-old single mother, hopes to avoid that fate. She is several months behind on rent, and her landlord in New Orleans East moved to evict her earlier this month. The judge ruled that she couldn’t be removed until Aug. 24, under the terms of the federal eviction moratorium. A local charity, Total Community Action, also offered to pay for some of her rent.
Ms. MaGee, an out-of-work housekeeper, qualifies for $28 a week in unemployment benefits in Louisiana. As of mid-August, she had about $100 in her bank account, she said. Her rent is $750 a month and she hasn’t paid this month. If evicted, Ms. MaGee and her 3-year-old daughter might have to move in with her mother, who has diabetes and a higher risk of Covid-19, Ms. MaGee said.
“It’s kind of scary and I have to prepare myself for the worst,” Ms. MaGee said.
Hannah Adams, the legal aid attorney who helped stop Ms. MaGee’s eviction, is trying to work with her landlord to establish a payment plan that would keep her in her home.
L. Kasimu Harris for The Wall Street Journal
Ms. MaGee’s building is owned by a subsidiary of the nonprofit Global Ministries Foundation. Chasity Blackburn, the company’s managing director, said with the help from charity now coming in, she expects Ms. MaGee to be able to stay.
“When someone owes us $7,000 and they come in and only pay us $700, that’s not going to work. We’re still a business at the end of the day,” she said.
Many New Orleans landlords say they try to work out payment plans with tenants who will work with them. But they say they can only let people live rent-free for so many months and still be able to pay their workers and their own debts.
Joshua Bruno, a landlord whose company owns about 1,500 apartments in New Orleans, has filed evictions against some tenants during the pandemic. Units at his lower-cost apartment complexes are now renting, he says, as service-industry workers with fewer hours look for cheaper housing options.
“[They] realize that where they were making $1,000 a night as a bartender, they’re not going to make that now,” Mr. Bruno said.
The post New Orleans Braces for Evictions as Renters Fall Behind, Belongings Pile Up on Streets appeared first on Real Estate News & Insights | realtor.com®.
Hi, I'm Parker Stiles. I'm the owner of Barrington Acquisitions, a real estate investment company operating in Charleston, SC and Atlanta, GA.
We help homeowners sell their home fast.
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The nation’s surging home prices don’t seem to care about the recession the country is mired in. They can’t be bothered by the deadly coronavirus pandemic or the double-digit unemployment that’s come as a result. Instead, prices are defying logic, expectations, and even belief, as they shoot up to record highs amid an unprecedented health and economic crisis.
It has all led some to wonder: Are some markets getting too hot? Could a significant correction be around the corner?
Such questions have become louder in recent weeks, in the face of some startling growth numbers, particularly in some high-priced California and less expensive Rust Belt, Midwestern, and Southern markets.
In some of these metropolitan areas, prices have shot up by more than 20% in the past year alone. Just how sustainable is this seemingly irrational home price exuberance, anyway? Could we be entering the dreaded bubble territory once again?
Nationally, the median home list price rose 10.1% year over year in the week ending Aug. 15, according to the most recent realtor.com® figures. No one predicted such a dramatic increase compared with 2019—when the economy was strong, no one had heard of COVID-19 and social unrest hadn’t exploded.
In fact, many experts predicted prices would flatten, if not fall.
Reality check: If there is a current-day bubble, it bears little resemblance to the gigantic bubble created by subprime mortgages, which burst into the Great Recession. Then came the mass foreclosures, plummeting home values, and the scores of homeowners suddenly underwater on their mortgages.
This year’s sky-high prices are driven by a rush of buyers competing for a very limited supply of properties. More demand than supply equals higher prices.
“Some markets are overvalued,” says Javier Vivas, realtor.com’s director of economic research. “Growth of prices in a recession is pointing in that direction. Some markets are seeing increased risks of price corrections.”
Instead of another real estate fire sale, certain parts of the country could see price hikes slow down or flatten, or prices even come down—by just a little. That could happen if prices rise so high that homeownership becomes too expensive for the majority of would-be buyers.
So instead of a bubble popping, it’s more that home prices could come back to reality.
Typically, market corrections happen fairly quickly, within two or three months, as priced-out buyers make a beeline for the sidelines, says Vivas. This year, record-low mortgage interest rates are muddying the picture.
Rates under 3% for the first time ever are driving more buyers into the market and allowing them to stretch higher on what they’re willing to pay. Lower rates mean lower monthly mortgage payments. That’s allowing sellers to ask—and receive—more for their properties.
Those who weren’t able to buy in the spring because of the pandemic—along with buyers desperate for larger, single-family homes with big backyards after sheltering in place for months—are adding to the rising demand.
However, worries about the pandemic have led to a record-low number of homes for sale, as sellers decided to wait out the health crisis. Meanwhile, many builders were forced to pause projects in some parts of the country. That’s led the scrum of competing buyers to bid up prices in an effort to secure a property.
Most striking in 2020’s home price ramp-up is the fact that’s happening in some of the nation’s most expensive and cheapest markets alike.
“In the inexpensive markets, you have a ton of space for prices to grow. You can see them overheat and absorb that overheating better,” says Vivas. That’s unlike the already high-priced coastal areas.
“The outlook for them is a faster and broader correction, [with] slight declines in home prices.”
Price corrections could happen by the end of the year in areas where prices have risen very high—along with local unemployment rates, says CoreLogic’s chief economist, Frank Nothaft.
The sky-high prices of 2020 are being driven by an influx of buyers bidding up prices on a historically low number of homes on the market. Until more properties come online, that dynamic is unlikely to change.
The Great Recession had the opposite problem: There were many more homes available than qualified buyers.
In the aftermath of the housing bust, it’s become harder for buyers without good jobs and strong credit to score mortgages. This weeds out riskier borrowers. And unlike the last go-around, when builders were erecting residences at what seemed like a break-neck pace, the under-building of the last few years has exacerbated the housing shortage.
Even if the economy doesn’t improve by next year and a vast swath of Americans remain unemployed, we are not likely to see the flood of foreclosures that characterized the housing crash, partly because government protections could be extended.
“It doesn’t feel at all like last time, when the market was getting all pumped up by easy mortgage credit,” says Mark Zandi, chief economist of Moody’s Analytics.
Diego Mariottini / EyeEm/Getty Images
Some of the nation’s most expensive housing markets are getting costlier by the day.
Median list prices surged in the Santa Maria, CA, metropolitan area, which includes tony Santa Barbara, CA. They were up no less than 44% annually in July, to reach $1,795,050.
That was the largest increase in the nation, despite the relatively high percentage of locals out of work (12%). In the Los Angeles metro area, prices increased by 24%, to a median $994,150.
They were considered two of the country’s potentially most overvalued markets, due to their massive price hikes, despite double-digit unemployment rates.
Gerd-Ulf Krueger, president of Krueger Economics, doesn’t expect prices in the Los Angeles area to slow down, let alone fall, unless residents on the higher end of the income spectrum (i.e., the 1%) lose their jobs or receive salary cuts.
While the unemployment rate in the Los Angeles metro area topped 18% in June, those at the top have been largely spared the financial pain experienced by those on the lower income rungs.
“The income gaps are very severe” in the Los Angeles area, Krueger says. The problem has also been exacerbated by a lack of new construction in the region, making it even more difficult for buyers to find affordably priced properties.
Sellers “are a little over-enthusiastic. They are realizing the wealthier or more affluent middle class still have money to buy homes.”
Davel5957/ Getty Images
Pennsylvania has the most metropolitan areas that have experienced both the highest price increases and high unemployment. This puts them at risk of price corrections.
In the Pittsburgh metro, median list prices rose 25% in July compared with a year earlier, a rise that could make the market overvalued. (Metros include the main city, surrounding suburbs and towns and smaller urban areas.)
“It’s just a product of supply and demand,” says Pittsburgh-based real estate agent Bobby West of Coldwell Banker Realty Services. “There are so few homes that are coming on the market, those that do are selling within 24 hours, with more than one offer.”
“It was a mad rush” when real estate services reopened after the pandemic shutdown, says West. “My bet is things will cool down into the fall and the winter months as far as pricing goes.”
However, with a median list price of just $249,950—about 40% less than the national median—prices still have room to rise.
The old steel town of Allentown, PA, and the surrounding metro area, have seen price increases comparable to Pittsburgh’s, as the supply of homes for sale has dwindled. Median list prices shot up 21% year over year, to reach $278,500 in July, according to realtor.com data.
The area is benefiting from folks leaving the New York City and Philadelphia areas and heading to Allentown, where they can afford more spacious homes—particularly if they’re now able to work remotely due to the pandemic, says local Keller Williams real estate agent Faith Brenneisen. The city is about 90 miles west of New York City and 60 miles north of Philadelphia—and its homes are selling for a fraction of the prices in those two cities.
She’s receiving seven to 10 offers per listing and offers running $20,000 to $30,000 over asking for homes priced in the sweet spot of $150,000 to $250,000.
Median list prices were up in Reading, PA, by 24% to $272,450 in July, compared with the previous year. In Wichita, KS, they rose 22% to $246,150, they were up 19% in Fayetteville, NC, to $219,800; they increased 18% in Philadelphia to $340,000; they grew 17% in Canton, OH, to $190,000 and 16% in Mobile, AL, to $215,350. All of these areas also had unemployment rates at or above 10% in June, according to the most recent data from the U.S. Bureau of Labor Statistics.
The post Home Prices Are Still Shooting Up, but Is This a Bubble About To Burst? appeared first on Real Estate News & Insights | realtor.com®.
Hi, I'm Parker Stiles. I'm the owner of Barrington Acquisitions, a real estate investment company operating in Charleston, SC and Atlanta, GA.
We help homeowners sell their home fast.
Based on recent positive home builder optimism and home buyer trends, it's no surprise that July's home construction figures were strong. As evidenced in a report released earlier in the week, confidence among homebuilders has recently surged to record levels as builders see increased buyer interest in new construction homes, and that optimism appears to have directly translated into a remarkable pace of building. Housing starts through July are up 4.3% compared with the same period in 2019. Newly built homes seem to have grown in popularity in recent months, in part due to a shortage of existing for-sale homes, but also possibly due to growing desire among home shoppers for a never lived-in house. However, threats to this optimistic outlook remain and may even be on the rise. High levels of unemployment and the uncertain future of the next wave of fiscal relief are two such headwinds, and home construction is a slow-moving process that is often slow to respond to changing trends. But given the enduring inventory shortage, and still-rising home buying activity - for the time being - there appears to be very little reason for builders to take their foot off the gas pedal anytime soon.
Even as few homes are available for sale and mortgage rates have risen sharply in recent days, buyer demand continues to press on as the summer season nears its unofficial end. A release from Ellie Mae showed that just under 80% of all purchase loans applied for in the previous 90 days closed in July – a rate that is up from 74.2% in June and consistent with the share that closed in July of 2019. This improvement suggests that, despite tight lending conditions, a growing share of mortgage applicants are able to make their way through the entire process and that lenders are able to keep up with this growing demand. What's more, the average loan size of a for-purchase mortgage application rose to a new all-time high of $367,800 last week, 13.7% above the level at this time last year and 3.1% higher than the average size just before the pandemic began — a trend that suggests upward pressure will remain on home prices in the near future.
One factor that could diminish homebuyers' outlook is of course the fate of the labor market. Recent evidence has suggested that while the job market continues to improve, its recovery has decelerated. According to job site Indeed, the number of job postings as of August 14 was 20.3% lower than the same time last year, an annual difference that widened last week for the first time since April. To be fair, August of 2019 saw a notable spike in job postings, but the increased spread between this year and last was also driven by a leveling off in the number of postings currently open. The report states that there are about half the number of postings for hospitality and tourism jobs right now as there was this time last year, while retail job openings have fallen almost 12% since the end of July. Meanwhile, separate research from the RAND Corporation outlined how a growing share of layoffs that are being deemed persistent rather than temporary is being driven by a large share of people transitioning from the latter category to the former — workers who expected their jobs to return but have since been told otherwise. According to the report, 20% of May and June's persistent layoffs had been temporary layoffs in the month before. Understanding this dynamic will be crucial in determining how lasting the unemployment situation is and the most effective policy solutions, especially if job postings resume their improvement.
Click here to read past editions of Zillow’s Market Pulse updates.
The post Zillow Market Pulse: August 19, 2020 appeared first on Zillow Research.
Hi, I'm Parker Stiles. I'm the owner of Barrington Acquisitions, a real estate investment company operating in Charleston, SC and Atlanta, GA.
We help homeowners sell their home fast.
realtor.com
Spray Island sits amidst the sparking blue waters of Lake Minnetonka. For dreamers who might be pondering a private island getaway, this small spit of land proved utterly irresistible: The 21-acre isle sailed to the top of this week’s most popular homes on realtor.com®.
With social distancing now ingrained in our brains, we’ve seen a serious uptick in interest in private islands.
On the market for $2.2 million, Spray Island comes equipped with a main house and a host of guest accommodations for a crowd of visitors. We’re sure friends and family will clamor to enjoy the island’s privacy, tranquility, and natural beauty.
Besides the private island, you also clicked on the renovated Keeper’s Cottage in Pennsylvania, the cantilevered Cedar Bridge House in Connecticut, and a self-sustaining “survival property” in Idaho designed for preppers going off the grid.
We won’t ask you to get your bug-out bag ready, but we will ask you to scroll on down for a full look at this week’s most popular homes…
Price: $329,500
Why it’s here: For a buyer really looking to get away from it all. While it’s no private island, this 20-acre spread is touted in the listing details as a place to “flee the city and safeguard your family from the coming storm after the election.”
Yikes. If you can overlook the ominous listing description, this self-sustainable survival property might be an ideal retreat.
It has spring water, solar power, a garden, small orchard and a greenhouse. The two-bedroom home was built in 2005 and comes with a propane cook stove, remodeled kitchen, and other amenities to ride out whatever the world tosses your way.
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Price: $530,000
Why it’s here: The Cedar Bridge House is a local landmark beloved for its incredible design. It’s suspended 50 feet in the air and built right into the hillside.
The result is a dramatic, cantilevered piece of livable art. The three-bedroom home sits on a wooded 3-acre lot and has jaw-dropping views. It also has all the upgrades a buyer might require to live in harmony with nature in refined style.
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Price: $385,000
Why it’s here: Built in 1845 and beautifully restored, this three-bedroom Cape Cod Colonial is a beauty.
The home sits on more than 3 acres, with a pond, fire pit, wildlife, trees, and plenty of room to run.
Highlights of the house include the inviting porch, ornate staircase, and original wood floors. Updates within make it the ideal blend of vintage charm and modern convenience.
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Price: $209,000
Why it’s here: Built in 1928, this adorable time capsule has had the same owner for the past six decades. He happened to be a cabinetmaker and built all the home’s cabinetry himself.
The three-bedroom house comes with two garages—and the one out back is being sold as is.
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Price: $8,500,000
Why it’s here: This massive mansion on 6 acres is reportedly being sold by Tampa Bay Buccaneers co-owner Darcie Glazer Kassewitz.
Built in 2004, the custom house in a gated community has 10 bedrooms, 11-plus bathrooms, and a whopping 28,295 square feet of living space.
Luxe features include a ballroom, huge pool, and a yoga room. According to the Tampa Business Journal, Kassewitz is decamping to a waterfront property on Davis Islands.
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Price: $610,000
Why it’s here: Sitting on a half-acre, this four-bedroom home has a pool, RV parking, and guesthouse.
Highlights include the family-friendly farmhouse kitchen, updated floors, a brick fireplace, and high ceilings throughout.
The guesthouse also has its own kitchen, living room, updated floors, and granite countertops.
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Price: $159,900
Why it’s here: Arched windows and a roomy corner lot give this brick bungalow from the 1930s additional charm.
Professionally refinished hardwood floors, a remodeled kitchen, and new landscaping have brought this property into the 21st century in style.
There’s even a finished basement, currently being used as a man cave and play room.
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Price: $262,900
Why it’s here: Storybook sensation! Just steps from the waterfront, this three-bedroom home was built in 1938 and recently underwent a spectacular renovation.
Updates include a new shingle roof, new kitchen, and fresh paint. The turret even boasts a small room, ideal for use as a cool office or playroom.
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Price: $495,000
Why it’s here: According to the listing details, the current owner of this cottage is a New York designer who took this humble home to new heights with an impeccable renovation.
Built in the 1880s, the two-bedroom home is known as Keeper’s Cottage, and the fresh design makes the 873 square feet of living space feel much larger. The 2-acre property also includes a patio space, open areas, and a secret path leading to a large public park.
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Price: $2,195,000
Why it’s here: This 21-acre private island in Lake Minnetonka is a rare opportunity to create a family compound, business retreat, or whatever a deep-pocketed buyer desires. Just don’t invite us over in the winter!
The isle comes with a whopping 4,000 feet of lakeshore and multiple docks. For accommodations, there’s a five-bedroom home built in 1972, plus a guesthouse, bunkhouse, and beach house.
In total, there are eight bedrooms, three bathrooms, and 3,273 square feet of living space. What the buyers choose to do next with this secluded isle is entirely at their discretion.
realtor.com
The post $2.2M Private Island in Lake Minnetonka Is the Week’s Most Popular Home appeared first on Real Estate News & Insights | realtor.com®.
Hi, I'm Parker Stiles. I'm the owner of Barrington Acquisitions, a real estate investment company operating in Charleston, SC and Atlanta, GA.
We help homeowners sell their home fast.
