Pompano Beach, Florida (PRWEB) May 31, 2015
This month's important, interesting and unusual news at Top 10 Real Estate News Headlines.
“Home Sales Back to 2006 Levels”
Pending home sales in the United States are at their highest level since 2006. The index, which projects home sales based on current signed contracts, has increased for eight consecutive months. Total home sales for 2015 are expected to exceed 5.2 million - an increase of 6.1 percent from 2014.
“Great Gatsby House For Sale”
The Long Island home where F. Scott Fitzgerald lived from 1922 to 1924 when he wrote much of “The Great Gatsby” is for sale. The 5,174-square-foot, Mediterranean-style home was built in 1918 with seven bedrooms, six baths, arched windows, extensive crown molding and a music room. The asking price is $3.89 million.
“Construction Resumes On America's Largest Home”
The 90,000-square-foot Florida mansion being built for time-share king, David Siegel, is still under construction near Disney World in Orlando. Work on the home began in 2004 but stalled after the 2008 financial meltdown brought time-share sales to a standstill. With an improved economy, construction on the 30-bedrooms and 11-kitchens mansion has resumed.
“Condo Developers Still Have Wet Feet”
Condominium sale prices have reached or even exceeded their peak 2005-06 prices in some parts of the United States, but developers are not keeping up with demand. Florida is showing the most activity with over 200 new projects in various stages of development. Pompano Beach condo pre-construction has been particularly active with eight new developments in the planning stages or under construction.
“LeBron's Miami Mansion”
With his move back home to Ohio and a two-year $42 million contract with the Cleveland Cavaliers, LeBron James put his Florida home on the market last year at $17 million. The white mansion is in the Coconut Grove neighborhood with 12,178 square feet, six bedrooms, nine baths and a detached guesthouse. LeBron recently reduced his asking price to $15 million.
“Brad & Angelina's Big Easy Home For Sale”
Brad Pitt and Angelina Jolie are selling their New Orleans home asking $6.5 million. The couple purchased the 7,645-square-foot French Quarter estate in 2007 when they were active in the Hurricane Katrina recovery efforts.
“House Flippers Bounce Back”
Home sales are better, prices are higher and house flippers are back at work, and making record profits. The average gross profit on a house that resells within one year after a previous sale - a good indication of a flip – increased to $72,450 in the first quarter of 2015.
“Home Bidding Wars”
With higher demand and lower inventory, home sale bidding wars are popping up in some parts of the United States. Prices are close to their peak levels in about one-half of the country and above their highest levels in Texas, Colorado, New York and Tennessee. Florida condo sales have increased 41 months in a row.
“$100 Million Home Sales”
There were five homes that sold in 2014 for over $100 million. The top dollar home was $147 million in East Hampton. The other $100 million homes were in France $146 million, Connecticut $120 million, Hong Kong $104 million, and New York City $100.5 million.
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