A Boom in Brooklyn’s New Condo Market
Sales and market share of new developments both surged in the third quarter. Read More
LISTING OF THE DAY
A Montecito Home Brings Mediterranean-Style Living to Southern California
The eight-bedroom house has views of the sea, an open layout home, and verdant landscaping. TAX TALK
What Are Property Taxes Like in Athens and Lisbon?
I’m an American considering the purchase of a second home in Athens, Greece, or Lisbon, Portugal. What are their property taxes like? Read More
NEWS BITES
Home Sales in Sydney, Australia, Take A Hit
Sydney, Australia, has seen home prices drop amid a decrease in demand that has hit high priced properties the hardest. The median Sydney price fell .1% to A$909,613 (US$710,222) in September, according to CoreLogic. Leichardt area suburbs showed the most significant change, with Lilyfield prices decreasing 25% and those in Rozelle and Annandale falling between 8% and 10%. Large developments increasing housing stock is seen as one reason, as is the departure of property investors who have been limited by a tightening of access to loans. Realestate.com.au
Precipitous Rise in Los Angeles Rents Anticipated
A report from USC’s Lusk Center for Real Estate and Beacon Economics suggests that a sharp increase in Southern California rental prices will continue, rising $136 per month by 2019 in Los Angeles, where the average is now $2,237. Increased competition among renters caused by low levels of homeownership is seen as one of the factors contributing to the increase. Curbed LA
Florida Keys Assesses Hurricane Irma Home Destruction
Inspectors in Florida’s Monroe County, which includes the Keys, report that 675 homes were destroyed during Hurricane Irma. Big Pine Key saw the greatest level of destruction. The county’s report showed major levels of damage affecting 583 homes and minor levels hitting 2,739. The total number impacted was 10,009 with only 3,880 getting by unscathed. The Real Deal
Frank Sinatra’s Coachella Valley Retreat Returns to Market For Lower Price
The 1967 Palm Desert home christened Villa Maggio by former owner Frank Sinatra has returned to the market priced at $3.695 million, one year after first being listed for $3.9 million. The 7.5 acre property, designed by Sinatra with architect Ross Patton, is set on a 4,300 foot high plateau and features nine bedrooms across a main house, guest home and pool house and a helipad. Los Angeles Times
A link to the original article can be found here.