Realtor: March 2017

Friday, March 31, 2017

Hawaii real estate veteran Abe Lee continues to flip homes

Hawaii real estate veteran Abe Lee has purchased a four-home property in Wahiawa in Central Oahu for $1.4 million and plans to sell these homes to individual buyers, he told Pacific Business News. The four homes, which range from one bedroom to three bedrooms, occupy a more-than-20,000-square-foot parcel of land on Hauola Avenue. The seller was the Kuraoka family. Abe Lee Development LLC’s purchase is part of an ongoing process in which he flips properties as a way to teach other Realtors about…

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No More Teacher’s Dirty Looks, Albion Schoolhouse Is an A-Plus Conversion

The Albion Schoolhouse, a private residence, events center and vacation rental in Mendocino County, CA, has just been listed

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Sharpen your No. 2 pencil, because we’re testing your ability to spot a bargain. The restored and remodeled Albion Schoolhouse in California’s Mendocino County isn’t just a cool place to live; it also comes with a county permit allowing the owner to rent it out for events.

Given its reputation for hosting area parties—weddings, receptions, bar mitzvahs—those events could cover the cost of a monthly mortgage payment. On the market for $1.5 million, it offers plenty of potential. And if you pencil in vacation rentals, the place could even clear a profit!

The Albion Schoolhouse had a humble beginning in 1924: The one-room schoolhouse was built for the children of Albion’s redwood logging community. It was expanded and used as a schoolhouse until 1967, when the logging boom petered out. The building later served as a community center, grocery store, and experimental elementary school.

The historic Albion Schoolhouse is now a home, event center, and vacation rental.

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In 1995, record producer Bill Bottrell purchased the crumbling schoolhouse. He proceeded to restore and repurpose the 5,000-square-foot building into a three-bedroom, three-bath residence and recording studio, where he’d eventually record the likes of Tom Petty, Van Morrison, and Sheryl Crow.

Bottrell restored much of the building’s original architecture, including the wide front stairs, tall ceilings, large vertical and horizontal windows, fir hardwood flooring, redwood-paneled wainscoting, and wraparound decks. He covered the walls with paneling where chalkboards used to hang.

The Albion Schoolhouse retains many original features, like the large windows

Original features remain, including the wood flooring and large windows.

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You can even see where the shuffleboard court was painted on the floor of the old gym, which you’d enter and exit through doors with push bars—just like the ones in your old elementary school. But our favorite renovations are the large “Girls” and “Boys” bathrooms redone in circa 1920s tile and claw-foot bathtubs.

You can see where the shuffleboard court used to be on the original wood flooring

The shuffleboard court on the floor of the old gym

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Among our favorite renovations are the large 'girls' and 'boys' bathrooms that were remodeled with 1920's era sea-green tiles

Remodeled “Girls” and “Boys” bathrooms

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The large 'girls' and 'boys' bathrooms that were remodeled with 1920's era sea-green tiles and claw foot bathtubs

Circa 1920s tile and claw-foot bathtub

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There are also contemporary additions, including skylights, a metal roof, glass-and-steel fireplace, chef’s kitchen, and raised stage with sound system in the library.

The former owner added a three-sided, custom made steel and glass fireplace

A three-sided, steel-and-glass fireplace was added.

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Chef’s kitchen with a long island

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In 2014, Bottrell sold the place to Rabbi Sydney Mintz, of Congregation Emanu-El in San Francisco, and Justine Shapiro. The couple were initially looking for a weekend retreat, but wound up buying the house, the 2 acres it sits on, and most of the furnishings for $1,125,000.

“When I first stepped foot into the Albion Schoolhouse, I nearly fell down,” says Shapiro, an Emmy-winning documentary filmmaker. “I was stunned. Never before has a space triggered such an immediate and visceral sensation of uplift, peace and, well, love. Bill created a home much like he created music. There is harmony, joy, philosophy, and both visible and invisible lines of connection.”

There are two master suites in the Albion Schoolhouse.

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The duo didn’t change much, although they added a Murphy bed behind the performance stage. Shapiro says the children who stay there love kayaking and canoeing on the nearby Big River Beach. They often play board games, spend time on the stage, or enjoy the great outdoors, instead of staying glued to their mobile phones.

But all good things usually come to an end. “It is with great sadness that we are parting ways with the Albion Schoolhouse,” says Mintz. “The writing project we are working on is taking us more often to Los Angeles than it is to Mendocino.”

Their loss could be your gain, however. As you can imagine, the offers are coming in fast and furious. Even if you can’t swing a purchase, you can always go there and stay for the weekend, or throw your next big anniversary party.

The Albion sits on two acres, and has plenty of parking for special events

The Albion sits on 2 acres and has plenty of parking for special events.

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Tree Service Alpharetta Georgia

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‘Guardians of the Galaxy’ Director James Gunn Is Blasting Out of Studio City

Guardians of the Galaxy James Gunn sells in Studio City

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With “Guardians of the Galaxy Vol. 2” ready to be released in May, you’d think director and writer James Gunn wouldn’t have a spare moment to sell his home in Studio City, let alone move out of it.

However, given the (almost) sure-fire success of his sequel to the beloved comic-book movie, Gunn’s ready to make a move. He’s put his 3,825-square-foot home on the market for $1.9 million.

From the exterior, passers-by would never suspect the owner wrangles superheroes on a regular basis. Built in 1956, the East Coast traditional has just been painted a classic gray and white. It’s located in one of Studio City’s most family-friendly areas and just a short walk to Beeman Park, famous for its softball fields, preschool, and other amenities.

East Coast traditional

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You wouldn’t know it belongs to one of Hollywood’s most popular directors from the inside either, as the five bedrooms and 4.5 baths have been well-staged. The two-story home has hardwood floors and built-in cabinets, new LED lighting throughout, and a large eat-in kitchen.

Living room

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"Guardians of the Galaxy" director James Gunn's dining room with hardwood built-in cabinets

Dining room with built-in cabinets

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Outside there’s a spacious backyard with a grassy lawn, pool, patio and small, detached office. There’s plenty of room for those with superpowers to chase each other around back there, with minimal collateral damage.

Director James Gunn's East Coast traditional has a large backyard with a pool.

View of backyard with a pool

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Gunn, who’s originally from St. Louis, began his movie career as a screenwriter in the mid-’90s, penning scripts for the “Scooby-Doo” movies and the 2004 version of “Dawn of the Dead.” His directorial debut was the film “Slither” in 2006, but he rose to A-list status with the success of 2014’s “Guardians of the Galaxy.”

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Security, ID checks, debates — what to expect at SABOR's special meeting

Based on the precautions the San Antonio Board of Realtors plans to take at its special meeting next week, you'd think the local association is preparing for a riot rather than a vote to determine whether it should keep its current chairwoman and chairwoman-elect. Among the nonstandard protocols for the special meeting on April 5: There will be security Voting members will be required to show identification. Only those with wristbands will be allowed into the room. And there will be strict time…

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The Very Best States for Retirement—and Nope, Florida Is Not No. 1

The best state to retire in is New Hampshire, according to a Bankrate.com report.

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Retirees and Florida seem to be as natural a combo as peanut butter and jelly, spaghetti and meatballs, and, well, older people and warmer weather. Except, as it turns out, the Sunshine State may not be the best place to live out one’s golden years after all.

Here’s the shocker: Florida was ranked only the 17th best state to retire in, according to a recent report from Bankrate.com. The personal finance website looked at the costs of living, health care quality, crime rates, cultural vitality, weather, taxes, seniors’ overall well-being, and the number of other seniors in all 50 states.

So where should they go instead? New Hampshire, of course.

Wait, what?!

That’s right. The cold, snowy Northeastern state earned high marks for having low crime and tax rates (except for those sky-high property taxes).

“A lot of the states that made our top five are not places that people usually think of when they think of retirement destinations,” says data analyst Claes Bell, who wrote the Bankrate.com report. “But there’s more to a good place to retire than good weather.”

The state rose from the 15th spot on last year’s ranking after Bankrate.com rejiggered the weighting of its criteria to what’s most important to retirees—adding culture (or things to do) and the number of fellow seniors.

That change actually boosted Florida 11 spots above its position last year. But it still didn’t come close to cracking the top 10.

Florida didn’t make the top 10 because it “has issues with its crime rate and its cost of living is relatively high compared to other states. The health care quality is also a little problematic,” Bell says.

And the revised methodology put a new light on places that are seeing an incursion of older folks, many of them returning after spending years elsewhere. That’s certainly the case in New Hampshire. Many of Portsmouth, NH–based Realtor® Stephen Oates‘ older clients are moving back to the state’s coastline because they have a connection to the area.

“I’ve seen more people coming back from the South,” says Oates, of the Bean Group. “Usually they’re coming back to be closer to their grandchildren and their family.”

The fact that the state doesn’t have any income tax (for those boomers still picking up consulting or freelance work) or sales tax is a bonus. And it helps make up for the fact that the coastal areas can still be fairly pricey.

The other top states for retirees were Colorado, Maine, Iowa, Minnesota, Virginia, Massachusetts, South Dakota, Wisconsin, and Idaho, according to the report.

The worst state for retirees? Alaska.

“A lot of seniors are not going to be attracted to a place with really frigid weather that Alaska has,” Bell says. Plus, the state also has “issues with crime. Its health care quality is low, and the cost of living of there is surprisingly high.”

The other bottom-dwelling states for retirees were West Virginia, Arkansas, New Mexico, Louisiana, Kentucky, Nevada, Oklahoma, California, and Mississippi.

But whether or not a certain state made the list shouldn’t be a reason to just pick up and move.

“Most people tend to stay in their states when they retire,” says Rodney Harrell, AARP’s livable community expert, to remain close to their family and friends. “It’s relatively few that do move across the country to some relatively new state.”

Those who do are looking for affordable housing and a decent cost of living, as many retirees are on fixed incomes, he says. They want to live in walkable communities with plenty of public transportation for when they are no longer able to drive. And they want lots of opportunities to socialize in their old age.

“People are generally looking for a good quality of life,” Harrell says.

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Thursday, March 30, 2017

Kitchen Renovation Clarksburg Maryland

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$80M Malibu Castle Rises From the Ashes and Sets Pricing Record

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Just when you think status properties in Malibu reached the tiptop of the market, along comes a new estate that raises the bar.

Slated for completion in April, a jaw-dropping estate built on the site of the iconic Malibu Castle is priced at $80 million. It is “the highest price ever for an estate in the coveted beach community,” according to listing brokerage Coldwell Banker Previews International.

It’s a location with a storied background. Other than the pier, the former Malibu Castle was the town’s most prominent man-made landmark. Folks could gaze up the hills from Malibu’s town center and see the towers, turrets, and flags. The parties on the property were also epic—until a devastating fire burned the place to the ground in 2007.

This 125 foot long great room has one of the best views in Malibu

120-foot-long great room

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Malibu Castle was a local landmark for years.

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In 2007 the Malibu Castle was reduced to ashes

In 2007, the property was reduced to ashes.

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The 3.5-acre site had little more than charred gargoyles among the ashes for several years when developer/designer/architect Scott Gillen became involved.

After the fire, the land was listed for $17 million, but after more than a year of negotiations, Gillen’s offer of $9.7 million was accepted by the previous owner, philanthropist and “princess” Lilly Lawrence. Sandro Dazzan of Coldwell Banker represented Gillen in the purchase of the property, and is handling the sale of the finished product.

Acquiring the site and maximizing its potential was a dream come true for Gillen.

“It’s like no other property in Malibu,” he says. It’s situated on a promontory with sweeping views of Santa Monica Bay, Catalina Island, Malibu Colony, and Surfrider Beach.

The 360 view is unsurpassed anywhere in Malibu

Deck with a view

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A one-of-a-kind site deserves a one-of-a-kind home, says Gillen. “I tripled my original building budget and went all in. The house has been complicated to build.”

He adds, “It’s the nicest house I’ve built to date.” His company, Unvarnished, has developed and built 22 premium properties generating over $130 million in sales.

This compound on a hill contains two large structures. The 10,500-square-foot main residence has five bedrooms and six bathrooms. It features a 120-foot-long great room with ocean views. A custom teak dining table parallels the 75-foot-long infinity pool.

There’s also a custom black walnut soaker tub in the master suite, a game room, a humidor, and a media room which opens to the pool where a waterfall cascades down a full story to the home’s lower level. Finishes include custom teak doors and cabinetry, as well as 80-year-old, dry-aged oak floors.

Luxe amenities include custom furnishings by Minotti and Bottega Veneta, handmade rugs from New Zealand, and rare art by Ellsworth Kelly and Jonathan Burofsky.

A fully stocked wine room comes with a special tasting by a vintner, And as the ultimate luxury amenity, one year of concierge service is included in the purchase price. The service will ensure the residence is fully stocked to your culinary tastes and even make reservations at nearby Nobu.

75-foot-infinity pool

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There's a black walnut soaker tub with a view in the master suite

Master bath with black walnut soaker tub and a view

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There's also a custom 12-foot hand-hewn teak dining table that seats the entire extended family

Custom teak dining table

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There’s a detached 4,000-square-foot guesthouse, which features a great room, kitchen, gym, spa, two bedrooms, and four bathrooms. Both structures have floor-to-ceiling walls of glass to take in the spectacular views.

Two main structures in the new Malibu Castle compound

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The entire house can be operated remotely from a mobile device. When you decide to go out, the entire house can be locked up and shut down with the touch of a button. But who are we kidding? With a place like this, you may never want to leave. Simply see to it that the concierge service delivers whatever your heart desires.

You can watch both the sunset and sunrise from this modern castle on a hill

Watch the sunset and sunrise from this modern castle.

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Cobb Realtors celebrate achievements

2016 was a strong and resurgent year in the Cobb County residential real estate market. It is no surprise, then, that the Cobb Association of Realtors welcomed over 300 members to its 2016 Multi-Million Dollar Club (MMDC). Cobb’s MMDC membership requires total sales volume of $2 million or more in a given year. In addition, the association recognizes our Top 10 Individual and Top 10 Team producers. We are proud to highlight those Realtor members who achieved these milestones in 2016, as listed…

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Atlanta Realtors’ Phoenix levels

Platinum Phoenix Dawn Mullins Harry Norman, Realtors Debbie Sonenshine Coldwell Banker Residential Brokerage Jay Wilcox Harry Norman, Realtors Studie Young Harry Norman, Realtors Gold Phoenix Vicki Crawford Dorsey Alston Company, Realtors Mitch Falkin RE/MAX Around Atlanta Realty Harriet Hinson RE/MAX Around Atlanta Realty Merle Land Keller Williams Realty Consultants Barbara Oliver Harry Norman, Realtors Chuck Wood Atlanta Fine Homes Sotheby’s International Realty Silver…

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Atlanta Realtors Association top individual winners

Top Individual Ranked by average sales volume 1. Betsy Akers Atlanta Fine Homes Sotheby’s International Realty Average sales volume: $68,102,119.00 2. Charles Mizell Atlanta Fine Homes Sotheby’s International Realty Average sales volume: $50,490,771.60 3. Ben Hirsh Hirsh Real Estate Specialists Average sales volume: $44,410,424.00 4. Tom Ellicott PalmerHouse Properties & Associates Average sales volume: $43,036,808.00 5. Robin Blass Coldwell Banker Residential Brokerage Average sales…

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Atlanta Realtors Association Top Producers award categories

The Atlanta Realtors Association’s criteria for its Top Producers awards are as follows: Individual Individual – Volume Individual – Units Team Team – Volume Team – Units Team credit will be determined by dividing total gross sales volume and total units by the highest number of team members at any given time during the year. Special recognition will be provided to the Top 10 applicants in each of the four categories. The total gross sales volume or units (rounded down to the next whole…

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Top producers recognized for metro Atlanta home sales

Welcome to Atlanta Business Chronicle’s annual Home Quarterly: Top Producers special section, where we highlight some of the top achievements in residential real estate sales in 2016. Residential real estate is an important industry in metro Atlanta, and the individuals highlighted excelled in their field last year. The following pages list Realtors who earned their way into their association’s top producers clubs, including award winners from the Atlanta Realtors Association, one of the oldest…

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Atlanta Realtors Association team winners

Top Teams Ranked by top average volume 1. Nicholas Brown Beacham & Company, Realtors Average sales volume: $43,443,553.11 2. William Ansley Ansley Atlanta Real Estate LLC Average sales volume: $33,664,647.20 3. Jonathan Rich Keller Knapp Realty–Decatur Average sales volume: $26,128,285.00 4. Natalie Gregory Keller Williams Realty Metro Atlanta Average sales volume: $23,695,816.00 5. Travis Reed Harry Norman, Realtors Average sales volume: $21,434,702.50 6. Mary Stuart Iverson Harry…

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The best of the best is recognized

Last Saturday evening, I had the pleasure of recognizing over 1,100 of Atlanta’s finest Realtors in the residential real estate industry at the Annual Top Producer Gala at Atlanta’s beautiful Marriott Marquis. These members of the Atlanta Realtors Association are recognized for their exemplary performance and production during the prior calendar year as compared to their peers in the marketplace. With membership totals in excess of 7,000 across the metro area, this group of high achievers represents…

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‘Extraordinary’ $55M Estate in Southampton Is Most Expensive New Listing

most expensive new listing is in Hamptons

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As the weather gets warmer, the elite of NYC decamp to the Hamptons. This summer, a lucky buyer can revel in the ultimate luxury of a $55 million spread. The most expensive new listing on realtor.com® is located in none other than Southampton, NY.

The pristine farmland, miles of beaches, and extravagant old-money mansions of this lovely locale have served as inspiration for home buyer and artist alike.

Abstract expressionist Jackson Pollock painted here, as did pop art painter Roy Lichtenstein.

Oceanfront estate

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As properties go, this oceanfront offering is a masterpiece in its own right. Owning this “extraordinary” estate, last sold in 2004 for $19 million, according to public records, “may only happen once in a lifetime,” according to the listing.

“It’s very private. It’s got a lot of frontage on the ocean,” says listing agent Harald Grant, who was already busy showing the place to potential buyers when we spoke with him.

While he declined to confirm the current seller, the place previously belonged to Roone Arledge, the legendary broadcasting executive who died in 2002.

Casual dining and family space with deck access

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Built in1991, the property sits on about 4.5 acres and comes with views of the ocean as well as farmed fields and ponds.

Not only will you have privacy from neighbors, you’ll also get plenty of personal space from your guests. With 8,225 square feet of living space, eight beds, including a master and five guest suites, you can retreat into total relaxation.

The master suite offers a fireplace, office, and deck access. Communal spaces include multiple decks and a great room with fireplace and large picture windows.

Massive kitchen

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The massive kitchen includes Sub-Zero refrigerators and three Bosch dishwashers. There’s an informal dining space which opens to a back deck.

A staircase from the kitchen takes you to the roof deck with views in every direction. The formal dining room seats 12.

Roof deck with a view

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Outside, if you don’t want to dip into the ocean, you can swim laps in the heated pool. Or heck, free your creative impulse and paint your sumptuous surroundings. We’re sure the next resident of this big beach retreat won’t lack for inspiration!

For more photos and details, check out the full listing.
Homes for sale in Southampton, NY
Learn more about Southampton, NY

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Apartment Market Slumps as Supply Surges

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Apartment landlords across the U.S. struggled through a tough first quarter as a slowdown in the rental market grew worse.

Rents in the first quarter declined or were flat in 28 of the 79 metropolitan areas covered by Reis Inc., including New York, Portland, Denver, Boston, Los Angeles and Washington, D.C. That was up from 14 markets with lower or flat rents in the fourth quarter.

Average rents nationwide, meanwhile, increased 3.1% in the first quarter compared with a year earlier, down from the more than 5% growth they posted a year ago, according to Reis.

Apartment occupancy declined to 94.5% from 95.1% at the end of the third quarter as supply increased, according to separate data from apartment tracker Axiometrics Inc. released Thursday. Across the U.S., apartment developers delivered 100,000 more new units than were leased in the quarter.

“We didn’t get a lot of demand and at the same time we got a lot of supply,” said Greg Willett, chief economist at RealPage Inc., which recently acquired Axiometrics.

Mr. Willett said the mismatch is especially pronounced at the high end, where rent growth is flat or negative in most metro areas.

The country’s two priciest markets were particularly sluggish. Rents in San Francisco fell 1.3% in the first quarter compared with a year earlier, while New York rents dipped 0.6%, according to Reis.

“To some degree it looks like operators have panicked in the Bay Area and New York,” Mr. Willett said.

Real-estate agents in the Bay Area said tenants renewing leases there have been able to convince their landlords not to raise rents. Those moving into newer buildings often receive two months free rent and six months to a year of free parking—incentives potentially worth thousands of dollars.

“There are very good deals to be had,” said Ron Stern, chief executive of Bay Rentals.

Houston also has been sluggish, as supply swelled and the economy softened on the energy-market slump.

“Houston, you are experiencing concessions or just flat-out adjustments of the effective rent,” said Brad Taylor, managing partner for the central region at JPI, an Irving, Texas-based real-estate developer. “The amount that someone has been writing their rent check for has been dropping.”

Analysts had expected that 2017 would mark a significant slowdown for the rental market, which had already shown signs of softening in New York, San Francisco and a few other major cities. This quarter’s data show that the predictions are coming true.

Even tougher times might be ahead. The winter months are typically slow, but as demand is expected to pick up this spring it is likely to be overwhelmed by increasing supply. The average number of new apartments finished in each of the next few quarters is expected to climb to 102,000 from 82,000 in late 2016 and early 2017, according to Axiometrics.

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Where’s Wondo? Soccer Star Chris Wondolowski Selling San Ramon Home

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Over the past decade, no one has dominated the soccer pitch quite like Chris Wondolowski.

Now, he’s hoping to score another goal on the real estate market.

Wondolowski, who plays for the San Jose Earthquakes, is selling his San Ramon, CA, home for $964,000. He bought the home for $621,000 in 2011—the same year he made his first appearance on the U.S. men’s soccer team.

The four-bedroom, three-bathroom house has been recently remodeled, according to the listing. It sits on a 5,300-square-foot lot just four miles away from Wondo’s hometown of Danville.

The home’s recent remodel includes work on the kitchen, bathrooms, crown molding, and wood floors. Inside, the open floor plan boasts a family room with high ceiling and a kitchen with breakfast bar.

Front exterior

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Living room

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Outside, there’s lush landscaping and a large, covered patio. A pool, clubhouse, and tennis courts are part of the community features and amenities.

Wondolowski ranks fourth in Major League Soccer history with 122 career goals. He’s the only player in league history to have scored double-digit goals in seven straight seasons.

The forward is also a two-time winner of the MLS Golden Boot, a three-time member of the league’s Best XI teams, the 2012 MLS MVP, and a four-time MLS All-Star.

Thanks to his MLS success, he’s been on the U.S. Men’s National Team roster cycle since 2011. In 35 appearances with the USMNT, he’s scored 11 goals, including a famous hat trick performance in 2013 wearing a kit that misspelled his last name on the back. Let’s hope his name is spelled correctly on the sales paperwork!

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