Today's Celebrity & Important Home News – Where Real Estate Is Never Boring

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The Long Island home from the 1986 movie 'The Money Pit' is for sale.

Where Real Estate Is Never Boring

“Top 10 Real Estate News”

“Housing Equity At All-Time High”
Much of America has recovered from the real estate crash such that home owners' equity hit an all-time high at the end of 2017. According to an analysis by Black Knight Data & Analytics, the 42 million Americans with a mortgage have about $5.5 trillion in liquid equity they can access. This is about $3 trillion more than borrowers had in 2012 before home prices began to recover.

“'The Money Pit' Movie Mansion For Sale”
One of the most infamous homes in movie history is for sale. 'The Money Pit' home on Long Island is on the market at $5.9 million. Not the film version as seen in the 1986 movie with Tom Hanks and Shelley Long but the real life version, more a candidate for 'House Beautiful' than 'Disaster Survival Magazine.' The 23-room home has seven large ensuite bedrooms plus a four-room master suite, an eat-in kitchen, eight fireplaces including one in the grand foyer, large formal rooms, study, pool and pool house. The mansion’s brick terrace overlooking the gardens and woods is a perfect place to sit and ponder your next home improvement task.

“Crazy Canadian Condo Prices”
During the U.S. real estate crash, Canadian home prices barely missed a beat continuing to climb almost every year. While single-family prices outperformed condo prices, now the opposite is true with condo prices across Canada up over 14% in 2017. Despite some recent softening, prices continue to increase in most of the country, especially expensive in the City of Vancouver where single-family home prices average almost $1.5 million and condos almost $800,000.

“Top 20 U.S. Coastal Towns”
According to, the best city to live on the coast is Santa Cruz, California. With an eclectic boardwalk and an average of 262 days of sunlight per year, the central California beach town on Monterey Bay is ranked just ahead of the Kennebunk towns in Maine, Long Branch in New Jersey and Habersham, South Carolina. Average home prices range from about $300,000 in Kennebunk to almost $900,000 in Santa Cruz.

“Zaha Hadid's Miami Beach Residence”
Zaha Hadid, who died in early 2016, is recognized as one of the world's great architects who designed many of today's most famous buildings including the aquatic center for the 2012 London Olympics, China's Guangzhou Opera House and the One Thousand Museum Condos in Miami now under construction. Zaha's own Miami Beach condo featuring Atlantic Ocean views and some of the same design elements found in her famous buildings is for sale at $6.5 million - reduced from $10 million.

“Adam Levine Sells Half His Mansions”
Adam Levine has been a busy celebrity on the home-selling front. In 2016, Levine listed both his East and West Coast homes for sale. He put a Beverly Hills mansion he bought in 2012 for $4.8 million on the market at $15.9 million and a New York City SoHo loft he bought in 2014 for $4.5 million was listed at $5.5 million. Adam sold the loft in just two months to Nick Lucio from Dolce Vita shoes for $5.4 million. In August, Adam and wife, Behati Prinsloo, bought a 9,200-square-foot home in the Holmby Hills neighborhood in Los Angeles for $18 million and began major renovations, but changed their minds after learning that Mrs. Levine is pregnant with their second child. He listed the home at the end of November for $18.9 million which is already under contract. The Beverly Hills mansion is still looking for a buyer.

“U. S. New Housing Construction Stalls”
According to a report from the U.S. Commerce Department, new home construction in December fell to its lowest level since November 2016. Despite the disappointing December figures, home building in 2017 increased to its highest numbers since 2007. The reduction was mainly due to single-family homes and is expected to rebound quickly to an almost 1.2 million annual rate.

“Greta Garbo Vacation Villa For Sale”
An island home in Sweden where Greta Garbo spent summer vacations in the 1930s is for sale at $3.9 million. The seaside traditional home was owned by Greta's brother. In more Garbo home news, the Manhattan apartment where she lived from the 1950s until she died in 1990 recently sold for $8.5 million.

“Top 10 Hamptons Deals 2017”
The ten most expensive home sales in the Hamptons in 2017 all sold over $20 million. In the top spot was a 2,500-square-foot Southapmtons beach home with 200 feet of ocean that sold for $31 million. In the #4 spot is an East Hamptons home that sold to Beyonce and Jay-Z for $25.9 million; it was on the market for eight years.

“Clint Eastwood's 'Play Misty House' For Sale”
Though most of Clint Eastwood’s film 'Play Misty For Me' was shot in Monterey, California, the final scene, the one that most movie fans remember, was shot from a cliffside home in Carmel, about 200 feet over the crashing waves of the Pacific Ocean. The family that owned the 2,781-square-foot home when the movie was being filmed continued to live there for more than 30 years until selling it to the current owner a few years ago, who spent nearly $2 million rebuilding the property. Located on 1.25 acres of rugged coastline, the open-living floor plan includes three bedrooms and baths, glass walls and large skylights that fill the entire house with light and bird’s-eye views of the craggy coastline, crashing waves and wind-sculpted trees. It is currently for sale at $11.9 million.

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Terry Walsh
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