Tuesday, January 31, 2017

10 Delightful Dwellings in January’s 10 Hottest Markets

houses in hottest markets for january 2017

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We reviewed January’s hottest housing markets and found a distinctive golden glow in our top 10. Eight of the 10 blazing-est cities are located in California—a fact that shouldn’t surprise keen-eyed real estate observers.

There are no signs of a slowdown out West, but then again, the entire nationwide housing market is pretty darn robust. The country’s median home price is holding fast at $250,000, up a sizable 10% over January 2016. And for buyers desirous of a home in these hot areas, time to make an offer on a perfect place is short.

According to Chief Economist Jonathan Smoke of realtor.com®: “We have started 2017 with a new low volume of available homes for sale—and a new high for prices.”

In other words, it may be freezing outside in much of the country, but when it comes to real estate, the heat is on. So we’ve rounded up a cool home in each of the 10 hottest markets for you to peruse. These delightful dwellings will give you a sense of what you’ll find in the nation’s most blistering spots for housing.

10. Fresno, CA 7877 N Woodrow Ave

Price: $315,000
Hot detail: “The floor plan is open and features a large family room with fireplace.”

Fresno, CAFresno, CA

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9. Stockton, CA 5447 Kermit Ln

Price: $257,000
Hot detail: “Fourth bedroom could also be used as an extension to the family room, media room, or game room.”

Stockton, CAStockton, CA

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8. Denver, CO 2495 S High St

Price: $425,000
Hot detail: “This Mid-Century Modern ranch has been under the loving care of it’s original owner since constructed in 1955.”

Denver, CODenver, CO

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7. Yuba City, CA 1325 Portofino Dr

Price: $349,900
Hot detail: “Three full bedrooms plus an office that could be used as a 4th bedroom.”

Yuba City, CAYuba City, CA

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6. Sacramento, CA 1212 43rd Ave

Price: $599,900
Hot detail: “Asian dragon Koi pond with waterfall.”

Sacramento, CASacramento, CA

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5. San Diego, CA 3022 Lawrence St

Price: $878,800
Hot detail: “1 1/2 blocks from Kelloggs Beach and walking distance from the Village where you will find pubs, restaurants, yacht clubs, and hotels.”

San Diego, CASan Diego, CA

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4. Dallas, TX 2615 Millmar Dr

Price: $199,000
Hot detail: “By well known California architect Cliff May … the house is in original condition with most of its vintage features still in place.”

Dallas, TXDallas, TX

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3. Vallejo, CA Undisclosed address

Price: $589,900
Hot detail: “Two master suites with one on first floor.”

Vallejo, CAVallejo, CA

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2. San Jose, CA 1725 Lincoln Ave

Price: $1,550,000
Hot detail: “This stunning, light-filled modern masterpiece has been completely re-built.”

San Jose, CASan Jose, CA

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1. San Francisco, CA 564 Shotwell St

Price: $1,249,000
Hot detail: “Enjoy the stylish updated kitchen and baths, custom wood windows, and oversized west-facing yard.”

San Francisco, CASan Francisco, CA

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Monday, January 30, 2017

CBRE's Steve Berger named to this year's NTCAR's Stemmons Service Award

Longtime Dallas real estate broker Steve Berger has been named to this year's North Texas Commercial Association of Realtors and Real Estate Professionals (NTCAR)' Stemmons Service Award — which is highest honor within the industry group. Berger, a senior vice president within CBRE's industrial and logistics team in Dallas, has worked on over 52 million square feet of real estate in his nearly 32-year career with the real estate brokerage firm. He was selected for the honor because he best exemplified…

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Fired 49ers GM Trent Baalke Selling Stunning San Jose Home for $3.3M

Trent Baalke

Ezra Shaw/Getty Images

Former 49ers general manager Trent Baalke has put his spacious home in San Jose, CA, on the market for $3.3 million, the Los Angeles Times reports. Greg Simpson is the listing agent.

Baalke, who had been with the Niners in various roles since 2005, was fired after a disastrous 2-14 season. The 52-year-old had held his management role with the team since 2011.

While the GM was let go for a losing record and a spotty ability for identifying talent, he picked a winner with this place.

Built just three years ago, the custom estate backs right up to the Silver Creek Valley Country Club. The home, which overlooks the third green, is located in the rolling hills of South San Jose. It’s about 25 minutes away from 49ers headquarters in Santa Clara.

The home’s 5,300 square feet of living space includes four en suite bedrooms, including a generously sized master suite, and 4.5 baths.

The open floor plan features a chef’s kitchen with Viking appliances, massive island with breakfast bar, and walk-in pantry. The family room with a beamed ceiling leads has french doors opening to a back patio.

There’s also a game room—complete with Niners memorabilia—and a wine cellar that can hold about 1,000 bottles.

Outdoors, there’s a bocce court, two fire pits, barbecue, and kitchen, which includes a Kegerator and pizza oven.

While Baalke’s tenure in the San Francisco Bay Area came to a stormy conclusion, his gorgeous home next to a golf course will likely have a sunny ending.

Trent Baalke's homeFront exterior

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Family roomFamily room

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Gourmet kitchenChef’s kitchen

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Game roomGame room

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BackyardBackyard

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Golfer Brad Faxon Selling Prime Property in Palm Beach Gardens for $2.6M

Brad Faxon

Chris Livingston/WireImage for USA Cable

For pro golfer Brad Faxon, selling his mansion in Palm Beach Gardens, FL, is a family affair. His wife, Dory, is the real estate agent representing the property, which sits on a quarter-acre lot in the Old Palm Golf Club community. The asking price for the elegant estate right down the street from PGA Boulevard: $2.6 million.

Built in 2015, the five-bedroom, five-bath home features a master bath with double vanities, a white kitchen with center island, a family room with built-ins and pool view, and a wine room that holds hundreds of bottles. Outdoors, there’s a saltwater pool, an entertainment area with gas fireplace, and a built-in kitchen.

The Old Palm Golf Club, which was founded in 2004, is a golf community known for its Raymond Floyd–designed championship course. Palm Beach Gardens is just northwest of its more famous (and ritzier) neighbor, Palm Beach.

Front exteriorFront exterior

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Faxon, who has won eight times on the PGA Tour and played on two Ryder Cup teams, is known as one of the best pure putters in golf history.

The post Golfer Brad Faxon Selling Prime Property in Palm Beach Gardens for $2.6M appeared first on Real Estate News & Advice | realtor.com®.



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Citigroup Exiting Business of Servicing Mortgages

citigroup-toronto

Roberto Machado Noa/LightRocket via Getty Images

Citigroup Inc. on Monday said it would exit the mortgage-servicing business, turning its focus to mortgage originations.

The bank said it is selling servicing rights of about 780,000 mortgages backed by Fannie Mae and Freddie Mac to a unit of New Residential Investment Corp. New Residential, managed by an affiliate of Fortress Investment Group, said it is paying about $980 million.

Citigroup said the exit from mortgage servicing would reduce its first-quarter pretax results by $400 million, including a loss on the sale and other transaction costs. The bank said the move allows it to focus on originating mortgages, cut expenses and improve shareholder returns.

The mortgages underlying the deal are to borrowers who aren’t Citigroup bank customers and represent about $97 billion in principal mortgage balances. The deal will to require approval from Fannie, Freddie and their regulator, the Federal Housing Finance Agency.

Citigroup also said it outsourcing the servicing of remaining customer mortgages to Cenlar FSB, a privately owned mortgage-subservicing company.

The move is aligned with both industry trends and Citigroup’s recent history.

Some banks have been shrinking their exposure to the mortgage-servicing business because of increased regulatory scrutiny and costs. And New York-based Citigroup has been exiting businesses since the financial crisis nearly toppled it.

In mortgages, the bank has been moving toward doing business with just existing customers in the U.S. cities where the bank has branches. Citigroup’s mortgage-servicing portfolio is half the size that it was a decade ago, according to the trade publication Inside Mortgage Finance.

Still, Citigroup is the sixth-largest mortgage servicer in the U.S., and its exit from the business is another signal of non-banks gaining ground in both mortgage originations and servicing.

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Key Buy: DJ Khaled Buys Robbie Williams’ Beverly Hills Mansion

DJ Khaled

Kevork Djansezian/Getty Images

Prolific rapper, producer, and TurboTax spokesman DJ Khaled picked up a seven-bedroom, 11-bath mansion in Beverly Hills, CA, paying $9.9 million for his own slice of the 90210.

He’s the third musician to own the house: It once belonged to country singer Clint Black, who sold it to British singer Robbie Williams in 2002 for a little over $5 million. Williams undertook an extensive renovation and nearly doubled his money in the sale.

Built in 1992, this 10,681-square-foot, French Normandy–inspired mansion is located in the gated Mulholland Estates community, which is popular with celebrities. The neighborhood made headlines in 2009 when thieves made off with $2 million in jewelry from Paris Hilton’s mansion.

ExteriorExterior

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In the home’s listing photos, Williams’ impeccable European style is evident throughout. Double doors open to a two-story entryway and sweeping staircase. The rooms are largely white or off-white, with floor-to-ceiling windows and glass doors in most rooms. The dining room might be the brightest room in the house, with a mirrored wall, giant bay window, and ornate light fixtures.

Dining roomDining room

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The kitchen is anchored by a large island with gray countertops and dark wood cabinetry. The stainless-steel appliances include a refrigerator with glass door. A large breakfast nook is attached to the kitchen, with wraparound views of the backyard and pool.

KitchenKitchen

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The home’s palatial master bedroom features a separate sitting area and a wall of glass doors that open to a private patio with a gas fire pit. The master bath is equally impressive, with custom tile in the stand-up shower, a large stone tub, and a window seat.

Backyard and poolBackyard and pool

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Elsewhere, there’s a recording studio, gym, swimming pool with waterfall, outdoor kitchen, and covered outdoor dining area with TV and fireplace. The home was originally listed at $11 million, but Khaled was apparently able to cut about $1 million off the asking price.

Khaled, 41, has released nine studio albums, collaborating frequently with rappers Rick Ross, Lil Wayne, and Birdman. He documents his larger-than-life persona on Snapchat, where his videos on his “keys to success” have gained him millions of followers.

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Critter Cities: America’s Top 10 Towns for Pest Infestations

America’s 10 Most Pest-Infested Cities

xxmmxx/iStock

Cities are bursting with life—too much of it, sometimes. Just ask James Vahter, a video producer who set up shop a few years ago in a trendy part of Manhattan’s Lower East Side. He got a sweet deal on a spacious, two-bedroom, fifth-floor walk-up, but it didn’t take him long to understand why the rent was so cheap. It happened a few weeks into his stay, when he returned from a business trip in the middle of the night and flipped on the hallway light.

“My walls were crawling,” he recalls. “From the floorboards to the ceiling, cockroaches were everywhere. I ran to the kitchen to grab some Raid—and the counters were crawling too.”

Welcome to the epic battle between city dweller and vermin. In Vahter’s case, he was able to wriggle (sorry) out of his lease and retreat to the suburbs. But not all urbanites are lucky enough to have the option of a happy ending.

From water bug traumas to Pizza Rat videos, pests are a terrifyingly common part of American life. In 2015, about 11% of U.S. households had encounters with rats or mice, and 12% with cockroaches, according to the Census Bureau’s newly released American Housing Survey. And, of course, those numbers increase exponentially in high-density metro areas.

Vermin nation

Some creepy creature populations are very much on the rise. There has been a 7% increase in complaints about rats in New York from 2015 to 2016, and a 16% uptick in Boston. Not squirming yet? A recent report by the pest-control company Orkin found a steep rise in bedbug incidents nationwide, to near-epidemic levels in many cities.

“We have more people affected by bedbugs in the United States now than ever before,” said Ron Harrison, an entomologist and director of technical services at Orkin, in the report. “They were virtually unheard of in the U.S. 10 years ago.”

Antwinette Clurksy, 64, endured living with bedbugs in her one-bedroom Houston apartment for more than three years. They were under the carpets, on the mattress—everywhere.

“I would be sitting on the couch, and I look up, and they’re crawling on me,” Clurksy says. She had red bite marks all over her body. Eventually, she had to sleep on the floor after throwing away her mattress, along with the sofa and dining table, because of the infestation.

Despite this and other horror stories, not all cities are equally affected by the onslaught of pests. In Seattle, for example, less than 1% of homes have a roach problem.

To figure out which cities are most under siege by critters with four or more legs, we used the rat and cockroach data from the American Housing Survey, as well as data about mosquitoes, termites, bedbugs, fleas/ticks—and, hey, scorpions, too—collected from other sources.*

What makes some cities more attractive to pests than others? The Northeast has an infamous rat problem—the chilly winter months drive the multitude of rodents in search of shelter, warmth and food. And the South is plagued by insects. Big insects.

“The warmer climate in the Southern states increases the ability to support insects for longer periods of time,” says Michael Raupp, an entomologist from the University of Maryland. “Insects are usually killed by the coldness, but since it rarely reaches lethal temperatures [freezing point] in the South, cockroaches and bedbugs remain active for a longer time out of the year.”

So where does your city rank on this ignominious list? We doused our data team with copious amounts of Off and turned them loose to find out. Let’s get crawling!

1. Houston, TX

pest_1

Don't mess with Texas cockroachesDon’t mess with Texas cockroaches.

BarnabyChambers/iStock; realtor.com

Houston gets a big tentacles- and claws-up from several species of pests, including cockroaches, rats, mosquitoes, bedbugs, and termites. It’s the pest capital of the United States! Why? The warm, humid climate and huge human population (people=trash=delicious food!) offer a luxury spa for vermin, according to Steve Durham, president of pest control company EnviroCon in Houston. About two in five households reported seeing cockroaches, making it the second-worst city for the ubiquitous bugs after New Orleans, according to the American Housing Survey.

“In Houston, I have seen multiple times when there were thousands and thousands of roaches,” Durham says. “You can’t believe how some people just don’t clean [their homes]. Roaches multiply very fast—every roach egg has 32 babies, and those 32 babies will each have 32 babies.” Yuck.

2. New York, NY

pest_2

Rats grow big in New York CityRats grow big in New York City.

robertcicchetti/iStock

No one knows how many rats live in New York, but estimates range all the way from 2 million to 28 million—and that high estimate would mean that there are almost four rats for each human in the most populous city in the nation. The city that never sleeps! Traps have been set, poisons brewed, and volunteers have relocated stray cats to rat-infested areas, according to the New York Daily News, but rats seem to be winning this war. How about we just give them Staten Island and call it even?

“In New York, a lot of architecture was designed without pest control in mind,” explains Taylor Falk, environmental analyst from M&M Environmental. The alleyways, dumpsters, and garbage are very close together. … When there is food and areas to move around, there are rats.”

Mice and rats are talented climbers, Falk says, and sometimes even climb high-rises through the utility systems (like hot water pipes).

And just like in the city’s alleys, rats and cockroaches battle for dominance overall. Rats were found in 15% of homes, cockroaches in 16%.

3. Washington, DC

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The District of Columbia is ranked the second-worst city for bedbugs by Orkin, while nearby Baltimore took the top spot. Blame the area’s huge influx of international travelers. Diplomats, tourists, and businesspeople (and their baggage) are practically VIP shuttle services for bedbugs, says Raupp, of the University of Maryland. Washington’s mild climate also helps bedbugs survive.

“The problem is that many of the materials we used to treat bedbugs are no longer available, due to EPA regulations. So there has been a large insurgence,” says Dannis Warf from Royal Pest Control. “They aren’t just in homes, but also in movie theaters, public transportation, libraries, even hospitals.” The pests even invaded the DC Department of Health in 2012.

And although Washington is often criticized for its “fat cats,” rats are a major problem. In fact, there’s even a Yelp page dedicated to a well-known park, satirically labeled as “Dupont Circle Rat Sanctuary.” One review reads, “Wonderful place for 100% organic, free-range rats to frolic in a safe environment without predators.”

4. Atlanta, GA

pest_4

To mosquitos, you're as sweet as a Georgia peach.To mosquitoes, you’re as sweet as a Georgia peach.

Henrik_L/iStock

Warm climate? Check. Wet summers? Check. Swamps and forested areas? Check. Perhaps nowhere can mosquitoes find a better breeding ground than Atlanta. There are about 45 kinds of mosquito living in the Southern city, according to Elmer Gray, a professor of entomology at the University of Georgia. And some species can carry West Nile and Zika viruses. Last summer, there were 77 cases of Zika in Georgia, according to Georgia Health News.

5. Philadelphia, PA

pest_5

A total of 18% of Philly households have seen rats, making Philadelphia the rattiest city in America. The city’s huge swath of old row houses make it easier for the nimble animals to find holes in the walls and move, Habitrail-like, from one family to another.

“Philadelphia also has a very unseasonably warm winter this year, so the rats are growing more than usual,” says Royal Pest Control’s Warf.

6. Miami, FL

pest_6

We love Miami’s year-around steamy weather. Unfortunately, so do cockroaches, mosquitoes, and termites. Florida has six invasive termite species that swarm alternately throughout the year, feasting on anything made of wood. By 2040, half of the structures in South Florida will be at risk of termite infestation, according to a study by the University of Florida.

“It’s hot, it’s humid, it rains a lot, and we have a lot of wooden-structure homes, as opposed to concrete-structure homes,” says JC Riverol from Spray’em Dead Termite & Pest in Miami.

The average cost to homeowners to repair termite damage is $3,000, but that can vary widely, depending on the extent of the damage, according to Termites.com.

7. Tampa, FL

pest_7

The good news about Tampa is that it’s practically rodent-free; the bad news is, cockroaches won’t leave you alone. Ever. They are present in an alarming 38% of homes. They flock to Tampa like retirees, and get comfy in the kitchen, under the palm trees, and inside the gazebos.

Pet owners in Tampa also need to keep an eye out for fleas and ticks, which love the warm temperature and year-round humidity. These tiny insects usually don’t mess with humans, but they cling to the skins of dogs and cats, transmitting diseases like Lyme disease, Rocky Mountain spotted fever, and tapeworms.

8. Nashville, TN

pest_8

With plenty of old structures to roam through, the Music City offers rats a comfortable habitat. Winter’s low temperatures of 30 degrees send rats scurrying into people’s homes for warmth and food, and the humid summer provides perfect conditions for breeding. Brown rats are the most common in Tennessee. One of the largest rat species, they can grow to an incredible 15 inches or more in length. (Silent scream!) Each year, there are also 50 snakebites reported in Tennessee, according to the Vanderbilt Medical Centers.

9. Phoenix, AZ

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Not the good, "Rock You Like A Hurricane" kind of Scorpion.Not the good, “Rock You Like a Hurricane” kind of Scorpion

johnaudrey/iStock

Phoenix residents have something scarier than garden-variety roaches to contend with: scorpions. Native to the arid Arizona desert, the bark scorpion is the most venomous scorpion in the United States, and is the culprit in most scorpion bites in the state. Arizona’s two poison-control centers report about 12,000 scorpion stings in the state each year.

Most scorpion stings go away after a few hours, unless you have a serious allergy—in which case you need to head to an ER, pronto. Better bring the American Express, too. In 2012, Marcie Edmonds was stung by a scorpion and billed $83,000 for anti-venom, the local CBS news station reported.

“The valley was the natural habitat for scorpions. Then humans came in and destroyed their habitats, to build concrete walls and buildings. But scorpions like concrete walls,” says Ben Holland of Scorpion Sweepers, a pest control company. “So we destroyed their habitat and built something even better.”

10. Boston, MA

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In 1917, the Boston Women’s Municipal League spearheaded a sweeping extermination campaign against the city’s proliferating rats, leading up to the first (and, to date,only) Rat Day, when residents were offered prizes for the largest number of rat carcasses turned in. A century later, the city is still battling rodents. The long, cold winter of New England forces ’em to creep into people’s homes for warmth and food. Last year, the Boston Inspectional Services Department received more than 3,500 rodent complaints.

The city adopted a rather innovative measure: dropping dry ice into rat burrows so that rats will suffocate. The method was proven to be effective, although it was temporarily stopped by the EPA last December because dry ice wasn’t registered as a pesticide, according to a report by the local CBS station.

* Data sources: American Housing Survey, Orkin, Terminix, Eastern Arizona Courier, Hartz

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