Tuesday, October 4, 2016

Live Like a Movie Mogul in Beverly Hills’ $40M Warner Mansion

The Warner mansion in Los Angeles for sale

Photo by Jim Bartsch

The legendary Beverly Hills home built by Warner Bros. co-founder Harry Warner has just been put on the market for $40 million. The stately mansion recently played a prominent role as O.J. Simpson‘s home in the Emmy-winning series “The People v. O.J. Simpson.”

Its recent star turn aside, the acre-plus property became legendary even before it was built in 1923. Warner hired a young Paul Williams, the first African-American member of the American Institute of Architects, to design the elegant home, mixing French Country architecture with Tudor elements.

Williams went on to become one of the most sought-after architects of the day in Los Angeles, designing homes for celebrities such as Frank SinatraLucille BallLon Chaney, and Barbara Stanwyck.

Warner’s American dream lives on

Warner, who was Jewish, felt it was important to make a statement about inclusiveness. The current homeowner—philanthropist, real estate developer, and filmmaker Daphna Ziman—feels the same way. Ziman, who bought the home in 1996, has hosted fundraisers for international children’s funds, education, and cultural restoration.

The Israeli-born Ziman has also held political fundraisers for Bill and Hillary Clinton, John Kerry, and Al Gore. More recently she’s been hosting events promoting bipartisan efforts for better government. Ziman estimates she’s hosted more than 80,000 people in the home.

Driveway

Photo by Jim Bartsch

Warm, welcoming ambiance in the Warner mansionLiving areas

Photo by Jim Bartsch

“When I was a child of 6, my grandfather gave me a little Statue of Liberty replica and told me to go to America, the land of immigrants and opportunity,” Ziman recalls. She moved to the U.S. in the early ’80s, and has been “living the American dream” ever since. Her time as owner of the Warner mansion epitomizes that dream.

But she feels a stewardship, rather than ownership, of the eight-bedroom, 11-bathroom, 12,254-square-foot estate she so painstakingly restored. “My feeling has always been that if you’re blessed and have been given so much, that much is expected of you,” she says. “I love to share my home for philanthropic causes and to make positive change in the world.”

Bird's eye view of the Warner estateAerial view of the estate

Courtesy of Joyce Rey & Jade Mills of Coldwell Banker Previews International

Entertainment room with Chagall-Inspired windowEntertainment room

Photo by Jim Bartsch

Fabulous features of the manion

Among the home’s more entertaining amenities are a sizable guesthouse formerly inhabited by Marilyn Monroe, a European garden, a pool and spa, waterfalls, a tennis court, an exquisite koi pond, and a children’s park with a “tumbleweed cottage.”

There’s also a state-of-the-art entertainment room, including a discreet drop-down screen and projection system, custom leather seating inspired by the chairs at the Warner Bros. Studios, an indoor-outdoor bar made of Jerusalem stone, and etched-glass windows.

The kitchen features hand-hewn beams, granite and hand-painted tiles, and high-end appliances including a Wolf stove, Dacor oven, and Sub-Zero refrigerator.

Warner mansion master suiteMaster suite

Photo by Jim Bartsch

Upstairs there are four en suite bedrooms and a lavish master suite with vaulted and beamed ceilings, his-and her bathrooms, refreshment area, fireplace, and wraparound terrace. There’s also an in-law apartment with its own living room, kitchen, bedroom, and bath.

Restoring this home to its original Hollywood glory was such a satisfying endeavor that Ziman has taken on similar projects, including the restoration Tony Curtis‘ former home and a West Hollywood duplex that Carole Lombard and Clark Gable once lived in.

“I like to restore properties to their original Hollywood glamour,” she says. “It’s a shame that so many developers come in and tear down these wonderful homes, and instead put up big white boxes.”

Warner mansion poolThe pool

Photo by Jim Bartsch

What’s next for the mansion?

Ziman hopes the buyer of the Warner estate will share her love and respect for the mansion’s history. “It’s going to be so hard to leave this place behind. I swim in the pool every day,” she says. But her children are now grown, and she’s committed to spending her time on other ventures.

But she doesn’t intend to leave her home restoration career behind as Joyce Rey and Jade Mills of Coldwell Banker Previews International market the Warner Mansion. “I’ve already found another well-known estate that I might buy and restore,” Ziman says. She promises to keep us posted.

Warner mansion entertainment salonEntertainment salon

Photo by Jim Bartsch

The post Live Like a Movie Mogul in Beverly Hills’ $40M Warner Mansion appeared first on Real Estate News and Advice - realtor.com.



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A Simple Way Millions Can Save $100,000

Friends, Matthew Perry, Matt Leblanc, Lisa Kudrow, Courtney Cox

Paul Drinkwater/NBC/NBCU Photo Bank via Getty Images

Get a roommate for a handful of years: It could add an extra zero or two to your bottom line.

Rent tends to be the biggest monthly expense for many Americans. The number of renters (11 million) who were spending at least half of their income on rent hit a record high in 2014, according to the annual State of the Nation’s Housing Report from the Joint Center for Housing Studies of Harvard University released this year. Plus, more than 21 million people now spend 30% or more of their income on rent, even though the government recommends you spend no more than 30% of your income on rent so that you have enough leftover for other necessary expenses.

Of course, many of these people who are shelling out big-time for rent already have roommates. But many don’t: The number of people in America who live alone rose from about 5% in the 1920s to 27% as of 2012, according to data from the Census Bureau.

The problem: Living alone could cost you tens of thousands of dollars down the road. Consider: A person who opts to get a roommate in a two-bedroom apartment (and split that rent 50/50), instead of to rent a one-bedroom apartment on his own would save $420.70 a month on average, according to an analysis of rents in the 50 largest U.S. cities released Tuesday by finance site SmartAsset.

Do that for five years—even if you put that money in your checking account and don’t earn a dime of interest—and you’ll end up with $25,242. Now, let’s say that at the end of that five years, you decide to invest that money. Even if you don’t add another cent to it, you’ll end up with more than $100,000 in 25 years, assuming a 6% annual rate of return.

In some cities, the returns could be even greater. A person living alone in pricey San Francisco would pay an average of $3,548 for a one-bedroom apartment. If that person opted instead to split a two-bedroom apartment (and split the rent down the middle with his new roommate), he would end up paying just $2,443 a month—thus saving more than $1,100 each month, according to SmartAsset.

Now let’s say that person opted to do this for just five years and simply leave that extra money in his checking account each month. At the end of five years, he or she would have saved more than $66,000. Should he then invest that $66,000 and leave it there for 25 years (assuming a 6% annual rate of return), he’d end up with roughly $280,000.

Of course, having a roommate—even for a short while—isn’t without its downsides, as my colleague Dan Goldstein detailed last year. But it also has perks beyond just monthly savings on rent, including help with bills, a feeling of security and even (if you’re lucky) a lifelong friendship.

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Realtors expand with a new office in a suburb that's heating up

Oregon City's gotten somewhat of a spruce-up in recent years, with the downtown now home to some solid restaurants and pubs and the plans for a riverwalk at Willamette Falls moving ahead. Looking to capitalize on the town's newfound popularity, Windermere Community Realty is opening a new Oregon City office at 1209 7th St. The office already has five agents, but general manager Gary Haven expects that up to 20 may jump on board soon. “I look forward to being able to show off Oregon City’s potential…

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Hey Minneapolis - Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale

Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale
Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale | MyKCM
The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
Buyer Demand
The map below was created after asking the question: “How would your rate buyer traffic in your area?”
Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale | MyKCM
The darker the blue, the stronger the demand for homes in that area. Only four states came in with a weak or moderate demand level.
Seller Supply
The Index also asked: “How would your rate seller traffic in your area?”
As you can see from the map below, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.
Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale | MyKCM
Bottom Line
Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together and discuss the demand in our area.     


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Exclusive: Houston real estate school to launch new course in artificial intelligence

Imagine you’re a Realtor touring a prospective homebuyer through a home listing when a call comes in from a new client. Do you pick up the phone and risk turning off your current buyer? Or do you ignore the call, possibly losing new business? Real estate agents can now juggle multiple clients with the help of an emerging technology called artificial intelligence — akin to Apple’s Siri or Microsoft’s Cortana. Houston Realtor Ron Sasson is pioneering the use of this technology with a new…

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Southeast Wisconsin real estate data shows hot streak continued in 3rd quarter

Asking rents for office space are climbing, new stores are opening and the leasing activity for industrial buildings is still outpacing the high level of new building construction. In all, the third quarter of 2016 brought more strong data for southeastern Wisconsin. The Commercial Association of Realtors Wisconsin and Xceligent released the numbers Tuesday. The office market continued to look good. The region counted 150,722 square feet of positive net absorption, a figure showing the amount of…

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Plumbing Billionaire Herbert Kohler Selling Captiva Island Home

Herbert V. Kohler Jr.

A. Messerschmidt/Getty Images

Billionaire businessman Herbert Kohler Jr. has listed his 4,400-square-foot Florida vacation home on exclusive North Captiva Island for sale for $5.7 million. Kohler is the chairman of the Kohler Co., a manufacturing company best known for its plumbing products.

The three-bedroom, 4.5-bath home was built in 1994 and sits on more than 6.5 acres on the corner of Red Fish Pass, at the southern end of the island.

The island is accessible by boat, ferry, or light airplane. No cars are allowed—people get around on electric golf carts, by bicycles, and on foot. Roughly half of the island’s 700 acres are undeveloped state parkland.

It’s home to a handful of restaurants with names like Barnacle Phil’s, a convenience store, and an ice cream parlor called the Pirate’s Stash. Commercial electricity and phone service arrived at the island in the 1980s. White-sand beaches and palm trees abound.

Exterior of 12900 S. Banks DriveAerial view

realtor.com

Kohler’s home sits on the largest parcel in Upper Captiva Shores. It features two guest suites with separate entrances and lofts for more guests. A handcarved wooden staircase leads to the master bedroom on the top level, which has unbeatable views of the Gulf of Mexico and “endless water, endless sunrises and sunsets,” the listing reads. The home’s multiple decks overlook a private dock with boat lift.

Island view at 12900 S. Banks DriveIsland view

realtor.com

Naturally, the plumbing fixtures in the home are incredible. “No expense was spared, with intricate details inside the home, with top-of-the-line fixtures, steam shower, outdoor showers, spa, and elevated endless pool,” the listing reads.

Kohler took over his family’s private, Wisconsin-based business in 1972 and ran it until 2015, when his son, David, assumed the role of CEO. Forbes estimates his net worth at $8.8 billion.

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