Tuesday, December 27, 2016

7 Surprising Trends That Could Disrupt the Housing Market in 2017

WATG Urban Architecture Studio won a 3-D home printing competition with this Curve Appeal design.

Daniel Caven/WATG Chicago Urban Architecture Studio

It’s been said that the only constant in life is change itself. Democrats give way to Republicans; hoverboards give way to Hatchables; the iPhone 6 gives way to the Note 7, which explodes and then ultimately paves the way for an iPhone 8. Even housing trends—a category in which changes were once so glacial they were barely perceptible to the naked eye—are now undergoing profound and rapid transformation too.

As real estate markets across the nation continue their unprecedented boom, the form and function of homes and living styles are changing rapidly to meet the new realities of American life. Small is the new big. Modular is the new custom-built. Three-dimensional printers are the new homebuilders. Communal living is the new grown-up, upscale obsession.

Even yurts, the dwellings favored by Mongolian herders, are back. We’re not kidding.

We at realtor.com® went through our archives to find the top trends of 2016 that have the potential to redefine, even transform, the housing market in 2017. Let’s go (back) to the future!

Could you squeeze into this micro-apartment? Would you even want to? They're going up in expensive cities across the country.Could you squeeze into this microapartment? Would you even want to? They’re going up in expensive cities across the country.

Ollie Carmel Place

Trend No. 1: Microapartments are the tiny homes of cities

Everyone knows space doesn’t come cheap in the country’s most expensive cities. (We’re looking at you, San Francisco and New York.) Hence the spread of microapartments—fully appointed living spaces encompassing a measly 250 to 365 square feet.

The apartments are tinier than tiny houses—measuring a quarter to a third the size of the median apartment in a newly completed building with five or more units in 2013, according to the U.S. Census Bureau. More and more of these miniature dwellings are cropping up in big cities like New York, Seattle, and Los Angeles. They’re even spreading to smaller metros like Providence, RI.

What they lack in size, microapartments make up for in lower costs—usually. They typically run renters about 15% less than studio units in the same neighborhoods. But residents may wind up paying a little extra for the luxe amenities that many come with, like convertible furniture, free Wi-Fi, weekly housekeeping service, and sometimes even communal activities (whitewater rafting trips! happy hours!).

Communal living? It ain’t just for postgrads anymore.

Common

Trend No. 2: Co-living is coming to a city near you

The days of finding roommates on Craigslist and then praying for the best may be numbered. Co-living, a movement in which young professionals have their next housemates/BFFs carefully screened and live together in upscale, highly planned (would-be) harmony, is making its impact felt in major metros across the U.S.

The real draw for these “Real World”-esque quarters is the communal environment, where residents pay a little extra to mix and mingle with one another at Sunday artisanal potluck dinners, weekend art workshops, or various common spaces in the building. Other perks include shorter leases (some only three or six months) as well as housekeeping services to minimize disputes.

The spaces have been opening first in hipster-filled urban areas such as Brooklyn, NY; San Francisco; and Washington, DC. But they are also moving to smaller metros like Chattanooga, TN.

“It’s a neat, innovative market response to the higher cost of renting,” Susan Wachter, a real estate and finance professor at the Wharton School at the University of Pennsylvania, told realtor.com.

School bus loftIt’s a loft on wheels. And just look at that view! Don’t worry about the seat belts.

Expedition Happiness

Trend No. 3: The hottest tiny houses are school buses

The tiny-house craze isn’t exactly new. With a half-dozen or so reality TV shows and a devoted following, the trend of downsizing into just a few hundred square feet is familiar to just about everyone. But why move into a tiny house when you could live in a school bus instead?

A combination of the DIY movement and the smaller-is-better craze has given rise to more folks trying their hand at creating homes from all sorts of vehicles, Aaron Lane, a design engineer at Creative Mobile Interiors in Grove City, OH, told realtor.com.

Earlier this year, we wrote about a German couple who bought a 1996 school bus for $10,000. With a little help, some YouTube tutorials, and a whole lot of elbow grease (as well as an additional $50,000), they turned the clunker into a 200-square-foot loft with a wooden floor, a compost toilet, and a hot-water shower powered by solar panels.

The best part? When documentary filmmaker Felix Starck and musician Selima Taibi finished their home, they took it on a once-in-a-lifetime road trip.

You don’t need to be a Mongolian herder to live in a yurt.

realtor.com

Trend No. 4: Housing prices are out of control, so why not live in a yurt?

With rents and home prices zooming ever higher, affordable housing seems like a fantasy. That’s where yurts come in.

These circular homes, which have sheltered Mongolian nomads for thousands of years, can cost quite a bit less than more traditional homes. (A roughly 700-square-foot model with a wooden frame and vinyl walls could go for around $20,000. That doesn’t include the foundation and utilities hookups.)

That’s a prime reason why over the past few years, sales of the structures have grown by about 10% annually at the Colorado Yurt Co., Ivy Fife, the company’s marketing manager, told realtor.com.

“We’ve seen quite a few retirees buy a piece of ground and put a yurt on it and get out of debt and have a little bit more freedom,” she said. “It’s young people, too. … They don’t want to get into a big mortgage that’s going to make it hard for them to meet.”

The Clarus building, in Maplewood, NJ, has applied for the wellness designation. The Clarus building in Maplewood, NJ, has applied for the Well Being Standard.

JMF Properties

Trend No. 5: Wellness buildings are the healthy homes of the future

These days, health and wellness are more than buzzwords. Want proof? Just look at the proliferation of “athleisure” wear, luxury spinning studios, and Fitbits. So it’s no surprise that wellness-certified buildings are catching on.

More than 50 condo and apartment buildings around the world are now applying for the new Well Being Standard. Similar to LEED certification for eco-friendliness, the designation is administered by a group called the International Well Being Institute. To qualify, a building’s design needs to incorporate healthy elements like air and water quality, natural light, and fitness.

This can mean giving stairwells more prominent placement to encourage residents to walk more, adding gyms and doctors’ offices to the ground floor, and remediating any stress-inducing odors and loud noise. (Since it’s a new process, no finished buildings have been certified just yet.)

“The focus on healthy living today is huge,” says Mollie Carmichael, a principal at John Burns Real Estate Consulting in Irvine, CA. “People are constantly striving for what’s going to keep them healthier.”

The world's tallest modular tower, at 32 stories, opened in Brooklyn, NY, in 2016.The world’s tallest modular tower, at 32 stories, opened in Brooklyn, NY, in 2016.

Courtesy of Forest City Ratner.

Trend No. 6: Modular homes could be the next big thing in housing

Manufactured houses are no longer just rolling off factory assembly lines and into trailer parks. Upscale modular homes are beginning to enjoy their moment in the spotlight with the world’s tallest modular tower opening recently in Brooklyn, NY. The 32-story rental building is expected to inspire other big developers to use modular construction.

And why not? Prefabricated housing is often of higher quality (because it’s built indoors, sheltered from the elements), costs a little less (less material wasted), and can go up a lot faster than traditionally built homes.

“This will speed up the development time at a time when we’re really short of housing,” Steve Weikal, an urban design professor at the Massachusetts Institute of Technology Center for Real Estate, told realtor.com.

The home of the future comes from a really big printer.

Contour Crafting

Trend No. 7: A 3-D printer could build your next home

Get ready for the future: Homes created by a 3-D printer are expected to be cheaper than traditionally built residences; they don’t require as many construction workers; and they produce less waste as the machines use only as much material as is needed. New homes could be designed by ordinary folks (like you) and printed in days.

The technology is still evolving, but rudimentary buildings, mostly made of concrete, are already being printed around the world. A two-story, 4,305-square-foot building was printed recently in China in just 45 days.

“You can have high design on a budget,” architect Christopher Hurst, of WATG Urban Architecture Studio in Chicago, said to realtor.com. “Now you can go to a contractor, and you have a highly customizable house that’s indicative of you—and that way you can express yourself in how you live.”

The post 7 Surprising Trends That Could Disrupt the Housing Market in 2017 appeared first on Real Estate News & Advice | realtor.com®.



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Monday, December 26, 2016

Luxe Estate of Hollywood Legend Norman Lear Gets a Rewrite

Norman Lear

Amanda Edwards/WireImage

A legend in the entertainment industry is offering up one of Los Angeles‘ legendary estates. The reconfigured Brentwood compound of 94-year-old TV impresario Norman Lear is now on the market for $39.95 million.

The creator of iconic TV shows including “All In the Family,” “The Jeffersons,” “Maude,” and “One Day at a Time” and his producer-writer wife, Lynn Lear, bought the Mandeville Canyon property in the late ’80s, and improved it over the years.

The couple added a two-story guesthouse with a round jacuzzi and an outdoor kitchen, a tennis court, staff offices, a gym, and a 30-car garage.

They also purchased a three-bedroom house on an adjacent lot and added it to their portfolio. The additional home was part of a larger $55 million listing back in September 2015, but the adjacent home isn’t part of the current offering, and the new price reflects it. In fact, the Lears might move into the three-bedroom home if they don’t find another property to their liking by the time they sell the estate, according to listing agents Jade Mills and Valerie Fitzgerald of Coldwell Banker Previews International.

Norman Lear's legendary estate is on the market for $40 millionNorman Lear’s legendary estate.

Jim Bartsch

Bird's eye view of Norman Lear estateBird’s eye view of the estate

Jim Bartsch

“Now that their children are grown, they don’t need all that space,” Mills explained. The Lears raised their three children together there, their son Ben, 28, and 22-year-old twin daughters, Madeleine and Brianna. They’ve also hosted storied gatherings that have included U.S. presidents and A-listers, screenings of Lear’s latest work in the elegant home theater, and lectures and discussions. “They created a meeting spot,” says Fitzgerald. “They love stimulating conversation and the exchange of ideas.”

Two-story living room of Lear estate main residenceTwo-story living room of main residence.

Jim Bartsch

The estate, especially Lear’s “cigar box”-style study with a view and the independent office complex, has also been the site of huge creativity. In addition to his iconic work on the small screen, Lear has produced feature films like “The Princess Bride,” “Stand by Me,” and “This Is Spinal Tap.”

Lear estate theaterLear estate theater

Jim Bartsch

Lear estate unique dining room, where the Hollywood elite meet to eatUnique dining room, where the Hollywood elite meet to eat

Jim Bartsch

The 8.3-acre property includes an elegant, 14,000-square foot main residence with seven bedrooms, eight bathrooms, and four half-bathrooms.

There are spectacular views of the city to the ocean from many of the rooms. There’s also a large pool and spa, parklike grounds, meticulously tended gardens, and large lawns. Mills says the estate is “truly captivating, unparalleled by its beauty, quality, sophistication, and elegance. This isn’t simply a home—it’s a lifestyle.”

Lear estate: 40 car garageMassive garage

Jim Bartsch

Lear estate back gardens and poolBack gardens and pool

Jim Bartsch

The post Luxe Estate of Hollywood Legend Norman Lear Gets a Rewrite appeared first on Real Estate News & Advice | realtor.com®.



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Those New Home Safety Gadgets You Just Bought? They Won’t Lower Your Insurance Bill Much

A connected home used as a training center for American Family Insurance claims adjusters.

A connected home used to train American Family Insurance claims adjusters. Photo by AMFAM

Americans are snapping up millions of new security cameras and smoke detectors connected to their Wi-Fi networks. But insurers aren’t yet persuaded the devices will make homes any safer.

The average cost of insuring a home was expected to rise this year despite the gadgets that pledge to prevent billions of dollars in damage. The $84.9 billion U.S. home-insurance industry is resisting widespread price reductions because insurers say little data exists to show the devices can improve security or prompt homeowners to be more active in securing their homes.

The home-insurance industry could see billions in revenue evaporate if the new technology dramatically improves home safety over time, potentially outpacing the costs insurers would save from paying out less in claims.

Some consumers say internet-connected devices make them feel more safe and that insurance companies should encourage their use.

“The insurance companies should provide an incentive,” said Tony Bacon, who outfitted his four-bedroom Chatham, N.J., home with internet-connected security cameras, thermostats and lights. Only his security-alarm system qualifies for an insurance reduction.

For some years, insurance companies have lowered home premiums for homeowners that use basic security devices. The question is whether the internet-connected versions of this equipment will be even more effective than their analog counterparts.

Internet-connected devices include those that alert homeowners when their smoke-detector batteries run low, route doorbell-mounted video to their phones, and detect leaky water pipes. Technology research firm ABI Research expects 360 million shipments of so-called smart-home devices in 2020, up from 79 million shipments this year and 40 million last year.

Some home insurers are offering small discounts for such devices while they test their effectiveness, but the reductions aren’t yet big enough to reduce average premiums. The average U.S. home premium is forecast to rise to $1,293 this year, up 5.5% from 2015 and up 61% from 2006, according to trade group Insurance Information Institute.

smart security chart

A 2014 study from Morgan Stanley and Boston Consulting Group estimated that smart-home devices could cut potential losses by 40% to 60% and reduce premiums globally by between $32 billion to $47 billion over the next 10 years. Global home-insurance premiums were $160.8 billion in 2013, the study estimates.

Connected-home technology “changes the underlying need to have insurance,” said Sean O’Neill, a partner at consultant Bain & Co. “If you take down severity and frequency of losses, that’s basically what premium dollars support. So the question is, at some point do premium dollars fall significantly?”

Analysts say home insurance can’t be replaced completely because houses are still vulnerable to hurricanes and other disasters. One in every 30 insured homes has a property-damage claim due to wind or hail each year, according to the Insurance Information Institute.

The push to gather more data from homeowners follows similar efforts by auto-insurance providers. For about a decade, auto insurers have been installing devices to monitor how far people drive and how often they slam on the brakes—and using that information to adjust pricing. Drivers can get discounts of as much as 30% if they agree to use the tools. Auto premiums have continued to rise on average in recent years, as increased driving and more distractions have led to more accidents.

Experts say it could take years to amass enough data about smart-home devices to offer equivalent home-insurance savings.

State Farm, the nation’s largest home insurer, provides a 15% reduction attached to certain internet-connected home security systems, said Dar Hakimi, director of innovation. Mr. Hakimi said such devices are preferable to traditional smoke detectors or security systems because it is easier to verify that they are installed and working properly.

Other insurers say they are encouraging consumers to buy connected-home products, especially if the homeowners agree to share data with insurance companies. Boston-based Liberty Mutual Insurance offers discounts in 38 states for customers that use connected security devices or smoke alarms. If the customers allow Liberty Mutual to verify that the devices are working correctly, they can get a larger price cut.

American Family Insurance in Madison, Wis, is discounting the cost of Ring Video Doorbells, which have motions sensors, cameras and microphones so users can remotely see and speak to visitors. It also is offering to reimburse the insurance deductibles of customers with the doorbells who are burglarized. Those deductibles are usually between $600 and $800, American Family said.

A study that Ring worked on with the Los Angeles Police Department suggests the doorbells reduce crime, but more comprehensive data will take years to gather, saidJamie Siminoff, Ring’s founder. “Insurance needs 10 years of data,” he said. “You don’t know what happens until you wait.”

American Family has installed more than 100 connected devices in a one-bedroom house it uses as a training center for claims adjusters. A few employees also test products in their own homes to determine which ones could qualify for discounts in the future.

But so far only a few, including Ring, have passed the test. Some devices, like indoor cameras, were judged a bad fit for American Family due to privacy concerns, said Ryan Rist, the company’s innovation director. Others didn’t work as well as advertised.

The post Those New Home Safety Gadgets You Just Bought? They Won’t Lower Your Insurance Bill Much appeared first on Real Estate News & Advice | realtor.com®.



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Tearing Down an Old House to Build a Big New One Is One Way to Introduce Yourself to New Neighbors

LA teardown

Adrian Scott Fine/L.A. Conservancy

Low inventory levels are making house shopping a challenge for many Americans. One solution gaining in popularity: Tearing down homes in good locations, erecting new and bigger ones in their places.

Of all single-family home starts in 2015, about 7.7%, or 55,000, were teardowns, according to the National Association of Home Builders. That number could very well climb. “Since we expect single-family starts to grow, and a shortage of lots is a widespread problem, teardown starts should increase as well,” said Paul Emrath, vice president for survey and housing policy research for the NAHB.

That has some housing preservationists concerned.

Teardowns became popular in the late 1990s and early 2000s, but largely waned when the housing market crashed about a decade ago. “As the real estate market has picked up around the country, we are seeing it return,” said Jim Lindberg, Denver-based senior director of the National Trust’s Preservation Green Lab. Anecdotally, he’s hearing tales of teardown fever in places including Portland, Ore., Boston, Chicago and Denver.

Often builders snap up properties, tear down and rebuild homes much larger than their predecessors — without a buyer waiting in the wings, he said. By renovating instead, the charm and character of the home can be retained, he and others argue.

Moreover, when new homes aren’t in line with the surrounding structures, communities can suffer, some say. Homes can also be situated too close together when a new house takes up a larger portion of its lot.

The new home is typically three times the value of the old house — at least, said Jean Follett, a historic preservation consultant in Wheaton, Ill.

Still, it’s not difficult to see the case for building new. Many buyers want open floor plans, and houses built before a certain time period typically don’t have them. Older houses also can require electrical rewiring or replacement of the plumbing. Plus, people tend to favor established communities that aren’t in far-flung suburbs, oftentimes in places with large swaths of modest homes — and many times that means tearing down the old to rebuild.

In Chicago, older homes tend to have basements with low ceilings, and sometimes that is the tipping point for considering it a teardown, said Rich Kasper, principal with Conlon, a real-estate company in Chicago. When these homes are rehabbed, the basements can hold back would-be buyers who want these spaces for playrooms and recreation rooms, perhaps an extra bedroom and bath.

“I [was selling] a gut rehab…and the builder did a gorgeous job,” Kasper said. “But of all the showings we had, and a handful of second showings, the people who didn’t move forward, they would say it’s the height of the basement.” The basement was about eight or eight-and-a-half feet tall.

Many buyers also aren’t up for the hassle and unpredictably of renovations, especially if it means living in a home during a months-long remodel. “With two working parents, no one wants to take on fixer uppers,” added Follett. Builders can better estimate costs when they start from scratch, Kasper said.

A Los Angeles teardownA Los Angeles teardown

Adrian Scott Fine/L.A. Conservancy

Blending in with the old

Most experienced builders — and the people who want to buy those new homes — don’t want structures that stick out among other quainter houses on the block, Kasper said. Sure, there are some people who don’t mind being “that guy” with the ultramodern home nestled among a sea of bungalows. But he sees less of that in recent years, perhaps as people look unfavorably on houses that seem out of place.

But even if they blend in on the style front, the new, large homes may not be the most sellable, and in fact may become “white elephants,” Follett said.

“Builders would like to argue that the homes are more [energy] efficient, but they’re still using a huge amount of energy,” she said of the larger, new homes. What’s more, ranch homes are often teardown targets, and those one-story homes can be good for aging homeowners — including the large population of baby boomers, Follett added.

As the issue gains steam, public planning laws are being considered in some places.

In Los Angeles, for example, the “mansionization” problem is being addressed with proposed changes to single family zoning rules, said Adrian Scott Fine, director of advocacy at the Los Angeles Conservancy, a nonprofit organization that aims to preserve historic architecture in Los Angeles County. In addition to square footage caps, one stipulation discourages attached garages, an effort to maintain the natural separation of homes with a driveway.

You can’t fault people for buying the big houses and seeking out neighborhoods with mature trees and existing amenities, Fine said. But for people who have lived in the neighborhoods for years, “they feel like they’re under siege. It’s beyond big house and small house, it’s privacy — they’re looking right into the backyard.”

The post Tearing Down an Old House to Build a Big New One Is One Way to Introduce Yourself to New Neighbors appeared first on Real Estate News & Advice | realtor.com®.



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The 11 Craziest Places People Have Put Their Elf on the Shelf

Elf on a Shelf

Instagram

If you’ve ever owned, seen, or been subjected to an Elf on the Shelf, you know that this little dude almost never hangs out on a shelf. As the legend (and book) goes, it’s this doll’s job to spy on the children of a household and observe whether they’re being naughty or nice. Each night, the elf jets to the North Pole to report to Santa, and each morning he returns—and kids are tasked with finding out exactly where he is. Is he hiding on top of the kitchen cabinets or safely camouflaged amid a pile of wrapped gifts?

For parents, the challenge is coming up with clever ways to pose the elf each day, which many then share on Instagram. In fact, nearly 2 million Elf on the Shelf photos have been uploaded. Because if you don’t post your Elf on the Shelf’s move on Instagram, did it even happen?

In case you need some inspiration for where this elf can go, check out these offbeat ideas below (some may not be appropriate for kids, but adults are allowed to have fun with Mr. Elf, too).

Up above in a hot-air balloon ride

This elf can do some aerial spying on the kids.

Elf on the shelf getting ready to return to the North Pole❄️ #elfontheshelf #christmas #holidayspirit

A photo posted by Emma Gruszczynska (@emush_85) on Dec 21, 2016 at 8:35am PST

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Atop a gift-wrapped SUV

Didn’t you know? Elves are very skilled with wrapping paper.

I guess it could be worse. #elfontheshelf

A photo posted by Capital Chevrolet Austin (@capitolchevrolet) on Dec 21, 2016 at 7:28am PST

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On a disco ball

Because after a long day of wrapping everything from SUVs to Hatchimals, elves really love to kick back with a whole fifth of Jack Daniels.

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In an intense game of beer pong

Because buddy Jack Daniels always leads to this.

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At the spa

Because after all that boozing, elves do need to detox.

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Ice fishing on the john

Because elves love to go ice fishing—and will settle for whatever body of water is on hand.

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In a block of ice

These elves must have said something that Queen Elsa couldn’t let go.

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In a one-legged bridge pose under the tree

Namaste, little elf.

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On a printer/scanner

Because who hasn’t scanned their rear end at some point? Maybe that miniature version of rapper Drake made him do it.

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In a police lineup

Because elves, like children, can be naughty or nice.

Guess who's on the naughty list this year? #elfontheshelf #twelfdaysofchristmas #elf #elvesofinstagram #elfonashelf

A photo posted by Cambridgeshire Police (@cambscops) on Dec 21, 2016 at 1:18am PST

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In Minecraft

Because these elves can really go anywhere—even into a game world.

Crazy minecraft elf. #elfontheshelf #christmastime #feelthejoy #ithinkthisisthelastelfontheshelfyear

A photo posted by Chris Carrieri (@chriscarrieri) on Dec 22, 2016 at 6:31am PST

The post The 11 Craziest Places People Have Put Their Elf on the Shelf appeared first on Real Estate News & Advice | realtor.com®.



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Have $20M? You Can Buy the Garden of Eden … in Hawaii

Keopuka Rock

realtor.com

There are bigger properties for sale in Maui. And certainly less expensive ones. But none of those larger, pricier places can claim it’s the Garden of Eden.

Now available for $20 million, this 27-acre slice of paradise isn’t exactly a secret garden. It’s a well-known botanical garden called the Garden of Eden in Haiku, HI, that’s open to the public.

The owner, certified arborist and landscape designer Alan Bradbury, has been growing this magical masterpiece since he acquired the land in 1991. He’s reluctantly ready to part with it.

“I’m a creative person. This is one of my pieces of art,” says Bradbury, who has also designed parks and recreational areas. “When a piece of art is finished, you sort of have to move on to other things.”

Garden of EdenGarden of Eden

realtor.com

He purchased the land when it was nothing but thick jungle. “There was barely an ocean view when we started, it was so dense,” he recalls. It took two years to clear the land, including a year to lay down the half-mile private road, which took “hundreds of trucks of gravel.” While digging the road, Bradbury added “a bunch of cool plants” in the loose soil, the genesis of his divine garden.

Garden of Eden gateGateway to the Garden of Eden

realtor.com

While work was underway, Bradbury would often leave the gate to the property open. Curious tourists would drive in to take a peek. Initially Bradbury, also a musician, had bought the space for a recording studio and retreat, but the air turned out to be too humid and salty for his equipment.

But it was perfect for a lush landscape. He decided to officially welcome the public by developing the gardens. When he first opened it, his 3-year-old daughter greeted guests. Now, it takes trained staff to manage the place.

Technically, “we’re considered a lowland tropical rainforest,” he says. “To me, it’s just a wonderland. There is so much in the region that’s incredibly beautiful.”

Palm treesPalm trees

realtor.com

Obviously everyone who goes there agrees. In fact it got its heavenly name because of how early visitors described it.

“This is a very special property,” listing agent Catherine M. Chamberlain says. As for the multimillion-dollar price tag, she says, “It’s almost worth more because it has such recognition. It’s constant revenue for someone who wants to do an eco business.” She notes that it could also be “the ultimate retreat, compound.”

Yes, indeed. While the property could continue as a tourist destination, it could also be converted into a posh private oasis. It would fit right in with the luxe tropical estates in the area housing such A-listers as Oprah Winfrey and Clint Eastwood.

Chamberlain says the location is perfectly perched at the 11-mile mark of the famous Hana Highway. So it’s private but also accessible, and not too far along that windy road. It’s become a popular destination from nearby hotel visitors and listed in guidebooks.

Keopuka RockKeopuka Rock

realtor.com

The site itself has had its screen time: Keopuka Rock can be spotted in the background in the opening sequence of “The Lost World: Jurassic Park.”

For the purchase price, instead of dinosaurs, a buyer will receive plenty of peacocks, plus 700 exotic species of plants, including a 100-year-old mango tree, a bamboo alley, a palm grove, and indigenous ti plants.

It’s also an incredibly edible property, with spice and fruit trees dotting the landscape. Bradbury’s favorite fruit is the rarely seen Rollinia deliciosa, an Amazon rainforest delicacy. “It is the best lemon meringue,” he says.

There are also two waterfalls, one 25 feet tall, the other about twice the height. Rainbows are a common sight.

Plantation style homePlantation-style home

realtor.com

The redwood-lined plantation home with a wraparound deck is small, but there’s plenty of space to add another residence. The existing home could also be renovated and expanded.

If you want to take over the business, it’s a turnkey operation. There are multiple structures across the property, including an artist gallery, a restroom facility, a covered picnic area, rain shelters, and even a food truck.

The trails that feature views of the sparkling Pacific have been open to the public since 1996. The price back then was $3 stuffed into an honor box; it has since climbed to $15, which doesn’t seem to stem the tide of cars waiting to get in. The gardens receive about 300 visitors a day.

Although privately funded and maintained, the Garden of Eden received recognition from Hawaii in 1995 for its “conservation practices and proper land use and development techniques,” according to its website.

Bradbury, 65, says he’s ready to pass on both the breathtaking beauty and the backbreaking maintenance. “Better to put it in the hands of somebody who can take it to that next step. I’m at peace with it,” he says.

One thing’s for sure: For the buyer, paradise awaits.

The post Have $20M? You Can Buy the Garden of Eden … in Hawaii appeared first on Real Estate News & Advice | realtor.com®.



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Penn Jillette Finally Sells His Las Vegas ‘Slammer’ for $1.88M

Penn Jillette

Gabe Ginsberg/WireImage

Master magician, comic, and actor Penn Jillette has sold his longtime Las Vegas home for $1.88 million. The deal for the home was finalized in early November, and the buyer is a local developer who plans to raze the home and build new ones on the 9-acre compound.

It looks like we can finally close the door on the home nicknamed “The Slammer.” Jillette, the talkative half of the famous Penn & Teller magic act, sold the unique home along with the surrounding property. In 2004, USA Today described the one-of-a-kind home as “a surreal Cubist vision in concrete, stucco and steel.”

The seven-bedroom, eight-bath estate, with an exterior painted in vivid colors, includes a 14-seat theater, recording studio, white kitchen, and 7,900 square feet of living space. You can see the Las Vegas skyline from a rooftop balcony. The grounds include a lap pool and spa.

Jillette's "Slammer" outside of Las Vegas“The Slammer” outside of Las Vegas

Church of Bacon

In April 2015, the magician bought a family-friendly mansion in Las Vegas for $3.3 million. A little over a year ago, the United Church of Bacon attempted to raise the funds needed to buy The Slammer with the intent of turning it into a community center. Rather than sizzle, their attempt sadly fizzled.

A graduate of the Ringling Bros. and Barnum & Bailey Clown College, Jillette, 61, began working with Teller in the 1970s, eventually taking their two-man show to Broadway. They have been entertaining Las Vegas audiences at the Rio for more than 20 years and appear on the TV show “Penn & Teller: Fool Us.”

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