Real Estate News

Ghostly Listings: What It Costs to Own a Famous Haunted House

RisMedia Consumer Advice - October 23, 2017 - 5:02pm

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

After purchasing a house, learning that your new home has a grisly past would be a real-life nightmare for most people. For horror movie fans and those interested in the macabre, these homes are sought out for photos and bragging rights that you actually saw the haunted house.

However, despite drawing the public’s interest, residences that have inspired Stephen King novels or classic scary movies often sit on the market for a long time and fetch far less than the asking price. Below are examples of iconic haunted houses and what they sold for (if they were sold at all).

 

 

 

 

 

 


Image Credit:
Newsday

Amityville Horror House (Long Island, N.Y.) – Sold in 2017 for $605,000

The basis of the book and subsequent film series went on the market last summer for $850,000 and sold earlier this year for more than $200,000 less than the asking price. With other homes in the Amityville neighborhood of Long Island regularly fetching upwards of $1 million, the home’s past is likely to blame for the price drop.

Image Credit: Jezebel

The Old Arnold Estate (Harrisville, R.I.) – Listed in 2015 for $400,000

The owners of this 14-room farmhouse in Rhode Island threatened to sue Warner Bros. following the release of The Conjuring (2013). Their property, which is the basis for the film, was constantly trespassed upon after the film became a hit. It eventually became too much and they listed the house themselves. It has since been taken off the market.

Image Credit: Associated Press

Pet Sematary House (Orrington, Maine) – Listed in 2017 for $255,000

This is the home that Stephen King and his family rented in the late 1970s where he thought of the idea for his novel Pet Sematary. Not only was his daughter’s cat hit by a truck in front of the home, but children in the neighborhood constructed an actual pet cemetery behind the four-bedroom Maine home that is still there today.

 

 

 

 

 

 

Image Credit: StreetEasy

The Dakota (New York, N.Y.) – Sold in 2017 for $21,000,000

Probably most well-known for being the Manhattan co-op in front of which John Lennon was killed, The Dakota has a storied supernatural history. The most famous ghost in the building is the Crying Lady who is said to walk the co-op’s halls. Also, the film Rosemary’s Baby (1968) was set in “The Bramford,” which was actually The Dakota, where most of the movie was filmed. This year, a three-bedroom went for the stunning price of $21 million.

Image Credit: realtor.com®

The Sowden House (Los Angeles, Calif.) – Listed in 2015 for $4.79 million

In 1947, this house was made famous because of the Black Dahlia murder. The home, built in 1927 and designed by Frank Lloyd Wright, was allegedly where local physician Dr. George Hill Hodel dissected the body of Elizabeth Short. Years later, in the early 2000s, Hodel’s son Steve brought a cadaver dog into the home’s basement and claims it detected the scent of decomposed human remains. There have also been reports of people hearing voices and chains being dragged.

Jameson Doris is RISMedia’s blog and social media editor. Email him your real estate news ideas at jdoris@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Ghostly Listings: What It Costs to Own a Famous Haunted House appeared first on RISMedia.

Categories: Real Estate News

Top Project for ROI: Refinished Floors

NAR Daily Real Estate News - October 22, 2017 - 11:00pm

Recent research suggests this remodeling project will recoup more than its cost at resale.

Categories: Real Estate News

10 Cities That Have Changed the Most

NAR Daily Real Estate News - October 22, 2017 - 11:00pm

These U.S. metros have seen the most dramatic shifts in housing, incomes, crime rates, and economic foundations in the last decade, according to a...

Categories: Real Estate News

Battery-Powered Homes Are Becoming Reality

NAR Daily Real Estate News - October 22, 2017 - 11:00pm

Municipalities in many states are revamping their electrical grids and turning to batteries to make them more efficient.

Categories: Real Estate News

Empty Nesters Are Lured to Apartment Life

NAR Daily Real Estate News - October 22, 2017 - 11:00pm

One of the biggest segments of new renters is seniors ages 55 and up, as multifamily developers reconsider their original focus on millennials.

Categories: Real Estate News

Remodeling Activity to Spike Through 2018

NAR Daily Real Estate News - October 22, 2017 - 11:00pm

As homeowners gain more equity, they are expected to continue heavily investing in home improvement projects and repairs.

Categories: Real Estate News

Survey: Buyers Leery of Online Mortgage Info

NAR Daily Real Estate News - October 22, 2017 - 11:00pm

Consumers trust real estate professionals and lenders more than online sources or family and friends to provide reliable guidance on obtaining a...

Categories: Real Estate News

10 Cities Scored for Best Infrastructure

NAR Daily Real Estate News - October 22, 2017 - 11:00pm

As home buyers increasingly consider the infrastructure around a listing, they are looking at things such as the condition of highways and sewers...

Categories: Real Estate News

The Most (and Least) Valuable States in America

RisMedia Consumer Advice - October 20, 2017 - 11:01pm

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Everyone knows location is the most important part of real estate. You can’t change where your house is (all things being equal). You have to consider school districts, crime rates, commute times—the list goes on and on. It can be much simpler when you’re considering buying a home to compare apples to apples so you can see how the real estate market differs according to location, so HowMuch.net created a new visualization showing land and housing prices at a glance.


The blue dots represent the value of an acre of land, and the red circles indicate the median value of a home. The bigger the blue dot and the larger the red circle, the more expensive it is to become a property owner. Small circles and dots likewise indicate a very low cost of purchasing property. The home values are from the U.S. Census Bureau’s 2015 American Consumer Survey, and the numbers behind the land values come from the Bureau of Economic Analysis.

Several things stand out in the illustration. An acre of land is much more valuable in the Northeast compared to any other part of the country. This is partly because the Eastern seaboard is a very densely populated area with several large cities, most notably New York. New York and Massachusetts have some of the oldest modern structures anywhere in the U.S. In other words, Eastern cities are a lot older than Midwestern cities, so there isn’t a lot of farmland for suburban expansion anymore. In terms of geographic size, these are some of the smallest states in the country. As a matter of fact, the three states where the cost of an acre of land is greater than the median price of a house are all located on the East Coast, and they happen to be some of the smallest states in the Union (Rhode Island, Connecticut, and New Jersey).

Median home values (the red circles) are a different and more complicated story. California has the most expensive houses by far ($449,100). Oregon and Washington boast similarly high housing valuations, as well ($264,100 and $284,000, respectively). It is also expensive to buy a home on the East Coast, with six out of the top 10 states with the most expensive median home values.

There’s a noticeable dip in both housing and land prices in Southern and Midwestern states. Prices slowly rise the further you move from east to west. This highlights unique economic developments over the last several years, including the boom in oil exploration in North Dakota and the growth of Western cities, like Denver, thanks to young people. Snowbirds also tend to move to Florida and Arizona when they retire, which also pushes up housing prices in those places.

Top 5 Most Expensive States to Buy a Home

  1. California
    Value per Acre: $39,092
    Median Home Value: $449,100
  1. Massachusetts
    Value per Acre: $102,214
    Median Home Value: $352,100
  1. New Jersey
    Value per Acre: $196,410
    Median Home Value: $322,600
  1. Maryland
    Value per Acre: $75,429
    Median Home Value: $299,800
  1. New York
    Value per Acre: $41,314
    Median Home Value: $293,500

Top 5 Cheapest States to Buy a Home

  1. West Virginia
    Value per Acre: $10,537
    Median Home Value: $112,100
  1. Mississippi
    Value per Acre: $5,565
    Median Home Value: $112,700
  1. Arkansas
    Value per Acre: $6,739
    Median Home Value: $120,700
  1. Oklahoma
    Value per Acre: $7,364
    Median Home Value: $126,800
  1. Kentucky
    Value per Acre: $7,209
    Median Home Value: $130,000

All this shows that the laws of supply and demand are alive and well in the real estate market. You can easily find cheap acres of land where they are plentiful and un-useful (sorry, Nevada), but owning property is a lot more expensive in smaller places crowded with lots of people. As always: location, location, location.

A version of this article originally appeared on HowMuch.net.

For the latest real estate news and trends, bookmark RISMedia.com.

The post The Most (and Least) Valuable States in America appeared first on RISMedia.

Categories: Real Estate News

Single-Family Rental Yields Are Softening

NAR Daily Real Estate News - October 19, 2017 - 11:00pm

The overall health of the single-family rental market is strong, and the top of the market has peaked as home prices return to historic norms...

Categories: Real Estate News

Meager Sales Rebound Underscores Tough Market

NAR Daily Real Estate News - October 19, 2017 - 11:00pm

Real estate transactions remain near their lowest level of the year, despite buyer interest in most parts of the country, NAR reports.

Categories: Real Estate News

How Much Amazon’s HQ2 Will Drive Up Rents

NAR Daily Real Estate News - October 19, 2017 - 11:00pm

A “prime markup” is in store for the rental market in the city where the online retailer chooses to base its second headquarters,...

Categories: Real Estate News

More Neighborhoods Fall Under HOA Guidance

NAR Daily Real Estate News - October 19, 2017 - 11:00pm

There could be as many as 347,000 community associations throughout the country this year, so your clients should be aware of any rules in the...

Categories: Real Estate News

Mortgage Rates Ease This Week

NAR Daily Real Estate News - October 19, 2017 - 11:00pm

Borrowers may be able to lock in lower interest rates this week, as the 30-year fixed-rate mortgage dips to a 3.88 percent average.

Categories: Real Estate News

Can Developers Please Both Boomers and Millennials?

NAR Daily Real Estate News - October 19, 2017 - 11:00pm

The two generations don’t always agree on what they want in a home, posing challenges for builders who are striving to meet both groups...

Categories: Real Estate News

Where Price Per Square Foot Is Highest, Lowest

NAR Daily Real Estate News - October 19, 2017 - 11:00pm

See how vastly different prices per square foot are in various regions of the U.S.

Categories: Real Estate News

‘Hottest Zip Codes’: A Tale of Three States

RisMedia Consumer Advice - October 19, 2017 - 3:46pm

Realtor.com®’s annual Hottest Zip Codes in America ranking reads like a tale of three states: California, Colorado and Michigan.

  1. Watauga, Texas (76148)
  2. Livonia, Mich. (48154)
  3. Kentwood, Mich. (49548)
  4. Medford, Mass. (02155)
  5. Littleton, Colo. (80123)
  6. Castro Valley, Calif. (94546)
  7. Colorado Springs, Colo. (80922)
  8. Overland Park, Kan. (66210)
  9. Mira Mesa (San Diego), Calif. (92126)
  10. Hilliard, Ohio (43026)

California, Colorado and Michigan nabbed six spots in the top 10 (another zip in California, 95758, stopped just shy at No. 11), thanks to three traits: affordability, good-paying jobs and millennials. Of California’s zip codes in the top 10, the median home price ranges from $536,394 (Mira Mesa/San Diego) to $728,267 (Castro Valley); of Colorado’s zip codes in the top 10, the median home price ranges from $273,222 (Colorado Springs) to $533,873 (Littleton); and of Michigan’s zip codes in the top 10, the median home price ranges from $118,833 (Kentwood) to $223,780 (Livonia).

Generally, homes in the top 10 are more affordable than counterparts in their county or metropolitan area, and the markets themselves have higher incomes, low unemployment and more millennials.

“While low inventory is a challenge, millennials are the largest generation in U.S. history and they are flexing their muscle when it comes to the housing market,” says Danielle Hale, chief economist for realtor.com. “Increasingly, the hottest housing markets are the ones that appeal to millennial preferences, and right now the standouts are relatively affordable suburbs with local ‘it’ factors such as hiking trails, great restaurants and nightlife.

“With the largest cohort of millennials turning 30 in 2020, we can expect these types of areas to stay in demand in the years to come,” Hale says.

Homes in the top 10 sell in an average 21 days, the ranking reveals, and listings located in the top 10 are viewed four times more on realtor.com than those in the rest of the U.S.

For more information, please visit www.realtor.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post ‘Hottest Zip Codes’: A Tale of Three States appeared first on RISMedia.

Categories: Real Estate News

Skills Agents Say Are Most Important

NAR Daily Real Estate News - October 18, 2017 - 11:00pm

A new report from NAR cites being a people person as one of the many traits you should have to succeed as a real estate agent. Do you have what it...

Categories: Real Estate News

2017’s Hottest ZIP Codes

NAR Daily Real Estate News - October 18, 2017 - 11:00pm

Find out which cities are hitting high notes on realtor.com®’s list for the year’s hottest housing markets.

Categories: Real Estate News

Hurricanes Pummel New-Home Production

NAR Daily Real Estate News - October 18, 2017 - 11:00pm

Fewer new homes are in the works, and economists say recent hurricanes that struck the South brought down the latest housing numbers. 

Categories: Real Estate News