Everything You Need To Know About Buying Your First Home
06/18/2018
Ned and Ariel have been looking for a house for a couple of years, but with a baby on the way, things are about to get serious. Join them on their hunt for their dream house, which should have “two of everything.” No problem, right?
Source: news-insights-x.rdc.moveaws.com
Source: realtor.com
How far you live from work, school and other places you frequent can cost you time, money and health. The U.S. Census says that the average commute takes Americans 27.6 minutes each way. That’s more than 240 hours annually, if you commute twice every workday in 2021. And now that many people have cut back their commutes by working from home during the COVID-19 pandemic, you might be thinking about how to save money by carpooling or biking, or you might consider moving to shorten the commuter distance. In either case, SmartAsset examined the largest cities in America to uncover the worst commutes in 2021. Find out how your commute measures up against them.
We compared data from the 100 largest U.S. cities and ranked the worst commutes by six key metrics: commuters as a percentage of workers, average travel time to work, five-year change in average travel time, percentage of workers with a commute of more than 60 minutes, five-year change in percentage of workers with a commute of over 60 minutes, and transportation as a percentage of income. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology below.
This is SmartAsset’s second study on the worst commutes in America. Check out the 2020 version here.
1. Riverside, CA
Ranked as the worst commuting city in America, Riverside, California takes the greatest toll on its workers in transit, with 18.6% of them averaging more than 60 minutes on a trip to work. And data shows that commutes are getting longer, with a 3.7% five-year increase (2014 to 2019) in workers traveling for more than one hour. Riverside commutes average 33.9 minutes each way, and this travel time has also increased 13.38% over the same five years.
2. Stockton, CA
Ranking second-worst, Stockton, California saw an increase of 18.68% in average travel time over the five-year period from 2014 to 2019. Data shows that 17.8% of workers in this Central Valley city average more than 60 minutes on their commute to work, the fifth-highest percentage for this metric across all 100 cities we studied. The average travel time for residents there is 32.4%, ranking 11th overall.
3. Hialeah, CA
Commute times in Hialeah, Florida, a Miami suburb, have spiked more than any other city in the study with a 26.81% jump between 2014 and 2019. Hialeah has also seen the biggest percentage 2014-to-2019 increase for workers commuting longer than 60 minutes, a 6.1% uptick. However, it is important to note that the city’s percentage of commuters is relatively small: With just 91% of all workers traveling to work, this city ranks 90th out of 100 for this metric in our study.
4. Glendale, AZ
Between 2014 and 2019, the number of workers in Glendale, Arizona with commutes longer than an hour increased 5.6%. This is the second-highest uptick for this metric overall. The percentage of workers with a commute longer than 60 minutes is 12.1%, ranking 16th-highest out of 100. Data shows that with 94.9% of Glendale workers commuting, they average 31.5 minutes on each trip.
5. Los Angeles, CA
Los Angeles, California has seen a five-year (2014 to 2019) increase of 3.3% in workers commuting longer than 60 minutes, the ninth-biggest jump for this metric in the study. With 93.5% of the workforce commuting, 15.4% of Angeleno workers need more than one hour each way to their jobs, the 11th-highest percentage for this metric overall. That said, they only spend 7.91% of their income on commuting, ranking 77th out of 100 for this metric.
6. Oakland, CA
Workers in Oakland, California average 34.4 minutes on each trip to work, the seventh-longest travel time in the study. Oaklanders also rank seventh-highest for the percentage of workers with trips longer than 60 minutes, with 16% of them making treks longer than an hour to the office in 2019. However, Oakland has one of the cheapest commutes, as workers there spend only 5.45% of their income on travel to work, the fourth-lowest rate for this metric overall.
7. Fremont, CA
Fremont, California has seen a 4.3% increase in five years for workers commuting longer than 60 minutes on each trip, the fifth-highest in the study. Residents there also have the third-longest travel time, averaging 36.4 minutes on each commute, and the second-largest proportion of the workforce commuting longer than one hour, at 20.2%. Fremont workers, however, spend only 5.45% of their income on travel to work, tying for fourth-lowest for this metric.
8. San Jose, CA
Located in the heart of Silicon Valley, San Jose, California has the most affordable transportation on our list. Workers there spend only 5% of their income on travel to work. Despite those relatively low costs, San Jose still ranks as the eighth-worst commuting city on our list. Workers average 31.7 minutes on each commute, and they have seen a 14.44% increase in travel time over the five-year period from 2014 to 2019. Data also shows that San Jose has seen a 4.8% increase over that time period in commuters traveling more than one hour per trip.
9. San Francisco, CA
San Francisco, California averages 34.7 minutes on each commute, the sixth-longest travel time in the study. The Bay Area city also has one of the largest groups of workers commuting the longest, with 15.7% needing more than 60 minutes to commute one way. That said, San Francisco workers have a relatively affordable commute, as residents there spend only 5.45% of their income on travel for work. The city ties for fourth-lowest out of 100 for this metric.
10. New York, NY (tie)
New York City ties with Long Beach, California for the final spot in the 11 cities where residents have the worst commutes. The average travel time for New Yorkers is 41.7 minutes, the longest travel time in our study. New York City also has the highest percentage of workers who travel more than 60 minutes each way, at 27.2%. Despite the duration, the city ranks 16th-lowest out of 100 for transportation costs, with workers spending less than 8% of their income on commuting.
10. Long Beach, CA (tie)
Long Beach, California ties with New York as the 10th-worst U.S. city for residents’ commutes. Residents there have seen a 2.1% increase over the five-year period from 2014 to 2019 in the number of workers traveling more than one hour to work each day. Long Beach has the 12th-longest commute on our list, averaging 32 minutes for each trip. And 14.9% of the workforce is traveling for longer than 60 minutes during each trip, the 12th-largest for this metric in the study.
To find the cities with the worst commutes, we compared the 100 largest cities in the country across the following metrics:
First, we ranked each city in each metric. We then found each city average ranking, giving all metrics an equal weight except for average travel time, which received a double weight. Next, we ranked the cities based on this average, giving the city with the highest average an index score of 100 and the city with the lowest average an index score of 0.
Questions about our study? Contact press@smartasset.com.
Photo credit: ©iStock.com/simonkr
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Source: smartasset.com
The United States has seen presidents come and go since 1789, but the oldest homes in America have been standing even longer than that.
Only a handful of homes in the nation can claim seniority over the oldest house to hobble onto the market this week. Built centuries ago, in 1647, the residence sits near the Atlantic Ocean in Marshfield, MA, and is one of the oldest homes in Plymouth County.
Updated inside and decorated in a nautical scheme of navy blue with crisp white accents, this old house doesn’t look as if it’s been around for nearly 400 years.
Besides the 17th century abode, there are several other can’t-miss Colonials on this week’s list—two in Bridgewater, MA, alone. There’s also a gorgeously renovated historic home in Charleston, SC, filled with fresh touches that elevate its historic status.
Scroll on down and have a look at all 10 of the oldest homes to land on the market this week.
Price: $659,900
Year built: 1647
Kenelm Winslow House: Lovingly updated, this Colonial sits on just under a half-acre at the end of a cul-de-sac near Rexhame Beach. Besides a plaque denoting its historic status, there’s also a gravestone out front with information on Kenelm Winslow.
The four-bedroom interior includes wide-plank pine floors, six fireplaces, beamed ceilings, built-ins, and a seamless mix of antique and contemporary finishes. The property also has an antique carriage house and storage sheds.
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Price: $1,550,000
Year built: 1704
The Georgian House: Once frequented by a who’s who of historic figures—including the signers of the Declaration of Independence, according to the listing—this is one of the city’s oldest homes.
The five-bedroom home has its original red pine floors, new bathrooms and kitchen, exposed wood beams, an updated country kitchen, and mudroom. Outside, the garden includes a patio, a wisteria arbor, and mature trees.
realtor.com
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Price: $750,000
Year built: 1705
Whitman-Rome House: The listing says this four-bedroom home is loosely associated with the poet Walt Whitman, who once lived in the area.
The charming residence has been updated in all the right places. The old wide-pine floors are still there, as are four fireplaces.
Each door on the main floor boasts a unique design. The nearly 2-acre lot also has a three-stall horse barn, so you can saddle up and explore the nearby 800-acre West Hills County Park, with its miles of trails.
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Price: $515,000
Year built: 1716
Greek Revival: This 18th-century farmhouse sits on just over an acre. Completely restored in the 1970s by an architect and updated again in 2020, the two-bedroom, 1,722-square-foot home includes a light-filled living room with fireplace, repainted interiors, and a large eat-in kitchen. The basement has a brick floor and workshop, and there’s also a garden shed out back.
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Price: $524,900
Year built: 1736
Wood/Crowley House: This charcoal-colored, three-bedroom home sits on nearly 3 wooded acres, and includes professional landscaping, an oversized barn and a garage. The antique home recently received a new roof and insulation, as well as a new water heater.
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Price: $2,000,000
Year built: 1740
Exclusive Charleston: Situated on one of the most historic streets in the city, this beautiful brick three-bedroom home has undergone several recent renovations and upgrades.
Updates include the custom black wooden shutters and copper gutters, a kitchen with a Calacatta Gold marble island, and a private, brick-enclosed garden. The gorgeous interiors are a potent blend of vintage style and modern touches.
realtor.com
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Price: $749,000
Year built: 1750
LaBasseur-Martinangle House: This historic four-bedroom home sits close to the water and received a restoration in 2007. Curb appeal is readily apparent, thanks to its covered porch and patio. Awash in airy pastels inside, this dreamy home is a one-of-a-kind antique.
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Price: $549,000
Year built: 1765
Joseph Hewes House: Bearing the name of one of the signers of the Declaration of Independence, who is said to have owned this property, this historic Colonial is just steps from the waterfront, shops, and dining.
After several additions over the years, the handsome home has four bedrooms, a roomy kitchen, and an added closet in the owner’s suite. There are gardens and a storage building in the fenced backyard.
realtor.com
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Price: $579,600
Year built: 1760
Red, white and black: Impeccable from the exterior, thanks to its lovely lawn and bright-red front door, this Colonial has been updated throughout.
Highlights of the five-bedroom home include the sunny kitchen, four-season sunroom, wide-plank pine floors, and beehive oven. Outside, the 2-acre property has an in-ground pool, a barn with stables, plus a one-bedroom apartment with kitchenette and living room.
realtor.com
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Price: $239,900
Year built: 1770
Post and beam: This old farmhouse was restored to create a gorgeous, modern family home with character to spare.
Beamed ceilings, wood floors, and a stone fireplace are just a few of the vintage touches. A new kitchen, modern bathrooms, and updated systems have given this old three-bedroom house new life. The surrounding acreage is filled with fruit trees, raspberry bushes, a patio, and a small horse barn.
realtor.com
Source: realtor.com
Tarek El Moussa is known for his impressive home renovations on his HGTV shows “Flip or Flop” and “Flipping 101 With Tarek El Moussa.” But what are his own homes like?
That depends, since this 39-year-old reality TV star has purchased, and rented, quite a few properties for his personal use over the years.
Each reflected where he was in life at the time, whether he was single (when his home had a shark tank), married to Christina Anstead (time to upgrade to a massive family mansion), divorced (hello, “dadchelor” pad!), or starting fresh with his fiancée, Heather Rae Young.
For a good look at how life changes can affect the home you have, check out this timeline of El Moussa’s many homes through the years, and how much his tastes have evolved.
Even El Moussa had to start somewhere! Back when this HGTV star was just 21, he bought his first home—and spent way more than he expected. He set out to find a house for around $400,000, but ended up falling in love with a home that was listed for over $800,000.
“It was the perfect bachelor pad—1,400 square feet, massive master bedroom, man cave all to myself, and coolest of all, a 300-gallon shark tank—may I remind you I was 21 at that time?” he wrote for realtor.com®.
Let’s just say that El Moussa’s first home was a huge life lesson for him that you should never bite off more than you can chew—financially or otherwise.
“I was very, very broke,” he admitted. “With no money for furniture, I ended up living in an empty house for nearly nine months.”
realtor.com
By 2013, El Moussa was married to Christina Anstead, and they had their daughter, Taylor, so they needed a bigger family house. The couple’s hit TV show, “Flip or Flop,” had completed its first season, so they had the cash to upgrade.
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And upgrade they did: El Moussa and Anstead’s home in Yorba Linda, CA, was purchased for an even $2 million at the end of 2013.
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Watch: Kate Gosselin Vacates Her ‘Kate Plus 8’ Pad
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With six bedrooms and 6.5 bathrooms, this property was already impressive, but the couple ended up spending an additional $1.5 million to improve the property, turning the backyard into an oasis, with a gorgeous dining area, swanky pool, and fire features.
HGTV
Despite all that renovation equity sweat, when the pair split in 2018, they sold the house at a loss, accepting an offer for just $2,995,000—proving that renovations don’t always pay off.
Originally, El Moussa and Anstead bought this yacht together, naming it Flip or Flop. But soon after they separated, El Moussa pointedly renamed it Bad Decisions.
The boat, which cost almost $1 million, has two bedrooms and two bathrooms—making it virtually as spacious as some of his flips.
With teak flooring and cedar-lined closets, the boat is stylish, and it has a kitchen and a washer and dryer. It is also convertible and can either be left open to the ocean breezes, or closed up so that the heater or air conditioning can make the ride more comfortable.
As it turns out, this boat played an important part in El Moussa’s meeting his fiancée in Newport Beach, CA.
“His boat was parked next to the boat I was on,” Young explained on Netflix’s “Selling Sunset.” “And my girlfriend happened to be on his boat.”
She jumped aboard, she recounted, and El Moussa turned around.
“And he was, like, ‘Hi, I’m Tarek,’” she said. “Then we were just, like, texting and kept in touch.”
realtor.com
After El Moussa and Anstead split, El Moussa moved into a four-bedroom “dadchelor” pad” in Costa Mesa, CA. A good mix of family-friendly and all-El Moussa—without Anstead’s feminine touches—it was only a couple of blocks from his ex-wife’s place, making shared custody of their kids much simpler.
The home had a pool, spa, and outdoor dining space. The interior was styled in bold colors, making it homey but masculine. With a modern fireplace and high ceilings, the space was perfect for El Moussa.
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By April this year, El Moussa and Young were ready to move in together. They rented a snazzy Newport Beach home, just a block from the ocean. El Moussa and Young’s home had fun swivel chairs, a dining table perfect for a family of four, and lots of family photos.
This rental was temporary, but these two certainly looked comfortable!
Of course, Young and El Moussa didn’t plan to rent forever, and in September, they bought a home in Newport Beach. Originally, El Moussa bought this house to flip, but after he proposed in July, they decided it would make a great home for both of them.
Unfortunately, it looks as if it will be a while before these lovebirds can move in to their new abode.
In November, El Moussa reported that his new house had flooded. “Ugh, when it rains it pours! We are now way behind schedule and way over budget lol,” he said.
It may take some work to get this place ready, but if El Moussa has proved anything, it’s that he can roll with the punches and is always up for a challenge—with his homes or otherwise.
Source: realtor.com
The NBA All-Star Blake Griffin has scored a mansion in L.A.’s Brentwood neighborhood for $5,876,000. Ron Smith and David Berg of Smith & Berg Partners at Compass represented Griffin in the transaction. Jordana Leigh with Rodeo Realty represented the seller.
Despite a move from the L.A. Clippers to the Detroit Pistons, the big man is still going hard in the paint when it comes to L.A. real estate.
The remodeled residence Griffin scored initially landed on the market in May for $6.7 million. Three months later, the price dropped to $6 million, before Griffin closed on the deal earlier this month.
Built in 1936, the updated estate in the exclusive enclave features five bedrooms and 5.5 bathrooms on 5,893 square feet. The layout includes formal living and dining rooms that border the foyer.
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Watch: Not a Slam Dunk: Why Won’t Michael Jordan’s Massive Mansion Sell?
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An upscale kitchen boasts Brazilian granite, custom cabinets, a Viking range, and a Sub-Zero fridge. The kitchen leads into the family room, with a fireplace and tall windows.
Off the living room, you’ll find a media room and a billiard-room. For entertaining with a seamless indoor-outdoor flow, the home wraps itself around a private terrace for dining outside, with covered seating and a fireplace. French doors from multiple living spaces give access to the outdoor space.
Interior details include hardwood floors and travertine and limestone finishes.
Upstairs, the massive master suite has a fireplace, three walk-in closets, and a bank of windows that offers extensive views. Other perks include a gym, wine cellar, and a guest suite with its own patio.
Set behind tall hedges, the gated grounds include over a half-acre of land, with waterfalls, pool, and spa.
Griffin apparently has plans to spend the off-season here in style. He apparently bought an adjoining, brand-new property earlier in the year for $19.1 million, in an off-market deal, Variety reported, suggesting that the player may be inclined to combine the two parcels to put together a compound on more than 1 acre.
In 2019, Griffin placed his previous property in the Pacific Palisades on the market for $11 million. He bought the 9,600-square-foot Cape Cod-style pad in 2014 for $9 million.
Now 31, the Oklahoma native starred for most of his career with the Clippers, from 2009 to 2018, when he was traded to the Detroit Pistons.
In 2019, he made his sixth All-Star team. He’s headed into what could be his last season in the Motor City. Griffin has the option to extend his contract by a single season at the conclusion of the 2020–21 season or to become a free agent.
Source: realtor.com
Is the 45th president house hunting in Florida?
Once his term in the White House ends in January, Donald Trump and wife Melania may be looking to secure a new home base in Palm Beach, FL, according to Page Six.
Apparently the Trumps have been shopping for a megamansion in the area, and poking around at private schools for their teen son, Barron.
Wait a minute! They already have a crash pad in Palm Beach: the private quarters within Mar-a-Lago, a club Trump purchased in 1985. Why don’t they just move in there? Well, per an agreement Trump made with the the town of Palm Beach, Mar-a-Lago, as a social club, does not allow anyone to live there permanently—even its owners.
So while the couple may stay at Mar-a-Lago for a bit, they’ll need to search for permanent digs elsewhere, and they’ll have plenty of family in the area.
Ivanka Trump and Jared Kushner have already ventured south to purchase a 2-acre plot on Indian Creek Island, which is known as Billionaires Bunker. Plus, Palm Beach and its environs are popular with many bold-faced names, including star QB Tom Brady and his wife, supermodel Gisele Bündchen, and the billionaire Carl Icahn.
But which home in Palm Beach will the Trumps pick? Here are five homes for sale we’ll bet they’ll consider since they tick all the P boxes: posh, palatial, and presidential.
Price: $110,000,000
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The swankiest spot available right now is also the most expensive, at nine figures. But it’s worth every penny to look out over the ocean and then pad down to your own pristine white-sand beach every morning with your coffee.
At more than 28,000 square feet, this massive two-story Mediterranean estate features seven bedrooms, nine full baths, and six half-baths, as well as miles of marble in multiple rooms. There’s also a guest cottage, stunning pool, exercise room, elevator, plus a security system and gatehouse for the Secret Service to set up shop.
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Watch: This Is Where Donald Trump Grew Up–and You Can Stay There, Too
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Price: $56,500,000
realtor.com
If the Trumps are willing to trade the ocean for lesser waters, they can head right across the street to this listing. For half the price, the famous couple can make do with six bedrooms and seven baths spread over nearly 16,000 square feet of living space.
At just 4 years old, this contemporary abode sits on about 2 acres and comes completely furnished. There’s also a private dock, deeded beach access, and gorgeous lanai overlooking the pool.
Price: $52,900,000
realtor.com
This mansion is a bit smaller than the others, but it sports two docks on either side of the house and direct access to the Intracoastal Waterway. The president and his family will enjoy six bedrooms and nine baths, take in the views from the balcony, and paddle around in the heated saltwater pool.
But the best part just might be the bonus loot that comes with the asking price. The right bidder for this property, which is called Lago-a-Lago (Lake to Lake), will also be the owner of $2,000,000 worth of furniture and art.
Price: $37,500,000
realtor.com
Perhaps a classic Palm Beach home is more to the Trumps’ taste? This Mediterranean-style manse with a barrel tile roof oozes old-world charm, though it was built in 2007.
Mature palms surround the lovely pool and spa, while soaring ceilings highlight huge windows opening to lush lawns. The property sits on just over a half-acre and features six bedrooms, seven baths, a wine room, and deeded ocean access.
Price: $35,000,000
realtor.com
Lastly, a home with real history. Built nearly 100 years ago, this gated estate with seven bedrooms and seven baths has been completely restored with every modern amenity, including a sound system, wine storage, and chef’s kitchen. Other luxe details include a huge home gym, billiard room, sun-drenched public rooms, and a palatial master suite.
Source: realtor.com
Realtor.com Chief Economist Danielle Hale gives her perspective on the week’s economic indicators including the latest speculation on when the Fed …
January 16, 2021
Biden’s ambitious housing package also includes funding for emergency rental assistance beyond what was enacted in December.
January 15, 2021
The debt figure is the most recent indicator that unemployment benefits and federal stimulus packages have so far been inadequate to alleviate the growing financial burden of missed rent payments across thousands of city households.
January 14, 2021
Getting a mortgage for a resort-area condo might become more difficult after Fannie Mae and Freddie Mac moved to tighten rules on buildings with many short-term rentals and hotel-like amenities.
January 11, 2021
If you’re buying a home, and the sale falls through after the home appraisal, who pays the home appraisal fee, the buyer or the seller?
January 11, 2021
Realtor.com Senior Economist George Ratiu discusses the latest housing trends and statistics as we kick off 2021.
January 9, 2021
The cost of buying a home surged again in October, a closely followed index showed, and prices rose at the fastest rate in six years.
December 29, 2020
Getting into a new home is more expensive these days than it was a year ago, which is bad news for home buyers looking for a deal.
December 23, 2020
The inventory of homes for sale dropped to a new record low, fueling major price increases amid high demand.
December 22, 2020
Realtor.com Senior Economist George Ratiu discusses the latest housing trends and statistics.
December 19, 2020
Americans may be relocating to the suburbs, but builders are betting that people will still be interested in living in apartments and condos.
December 17, 2020
The housing market remains hot, but the outlook for the year ahead has become murkier as COVID-19 vaccines roll out.
December 16, 2020
Rapper Vanilla Ice, aka Robert Van Winkle, sold the luxury five-bedroom home to his ex-wife for $10 last year. She listed it at $909,000, and …
December 15, 2020
Prices for homes at high-risk of wildfire increased 2.9% year-to-date in 2020, versus 5.2% for those without such risks, according to realtor.com.
December 15, 2020
Realtor.com Chief Economist Danielle Hale talks about the latest economic numbers, and what her team sees ahead for 2021.
December 12, 2020
Realtor.com Chief Economist Danielle Hale dives into the week’s numbers on employment, mortgage rates, and home prices. Here’s what you need to …
December 5, 2020
Is there a hidden link between realtor.com Chief Economist Danielle Hale and the “mother of Thanksgiving”? Hale and Senior …
November 25, 2020
The economy is improving little by little, and Americans are taking advantage of low mortgage rates to buy or refinance homes. A key home builder …
November 21, 2020
This week in economic news: Are things getting better? There are a few hopeful signs. Realtor.com Senior Economist George Ratiu talks about this, …
November 14, 2020
Doubts about the presidential election and other issues pushed mortgage rates to a new low this week, even as real-estate activity …
November 7, 2020
View our archive of articles in realtor.com® News & Insights.
Source: realtor.com
Sylvester Stallone has punched up a purchase in Palm Beach, FL. According to the Palm Beach Daily News, the Hollywood legend has scored a compound in the Sunshine State.
The star of “Rocky” reportedly paid $35,375,000 for the waterfront spread. The property, listed in “pending sale” status, came on the market in June for $37.85 million. Stallone seems to have snagged a minor discount.
With seven bedrooms, 10 full bathrooms, and two half-bathrooms, the mansion, built in 2014, offers 13,241 square feet of living space and 250 feet of sandy beach on the lake, the listing description states.
What it describes as a “sensational estate” offers three structures, which include a main house, guesthouse, guest pavilion, and an open cabana across from the pool.
The waterfront property also offers a boat dock and is designed with “casual elegance” in mind. Modern interiors include multiple living spaces, a formal dining room, a huge eat-in kitchen, and multiple French doors that open to the lawn outside.
A spacious master suite features a sitting area, private balcony, enormous walk-in closet, and bathroom.
In addition, the layout includes a gym, wine storage, library, and a family room with a wet bar. Outside, the grounds feature a pool with a beachfront spa that practically touches the lake.
Stallone joins numerous other celebs in the area. Jon Bon Jovi, Rod Stewart, the author James Patterson, and the former wife of Tiger Woods, the model Elin Nordegren, own homes in the upscale enclave. President Donald Trump‘s Mar-a-Lago is also nearby.
The “Rambo” star has been busy on the real estate front. This spring, he placed his desert getaway in La Quinta, CA, on the market for $3.35 million.
Stallone bought the four-bedroom home, located inside the Madison Club, for $4.5 million in 2010. But it eventually became expendable. He wound up selling the golf retreat at a loss, for $3.15 million.
Stallone, 74, has been a screen star for decades. He’s known for the “Rocky” series, which more recently led to the spinoff “Creed” films.
Lawrence Moens with Lawrence A. Moens Associates holds the listing.
Source: realtor.com
2021 is starting off with a big-time celebrity shake-up: Kim Kardashian West and Kanye West are getting divorced.
Indeed, according to Page Six, the A-list couple have finally called it quits after six years, four children, and who knows how many disagreements about where to spend their time, energy, and celebrity capital.
According to reports, Kardashian West is intent on continuing to work on her prison reform project, while West’s political ambitions (including a fanciful bid for the Oval Office) have kept him rather busy, too. Another source says West has become increasingly frustrated with the Kardashian family’s reality TV star lifestyle. Alas, there also seems to be the issue of West’s mental state, which can test the strongest of unions.
But what inquiring minds really want to know is this: How will their massive real estate holdings be divided?
Jennifer Lenz, a real estate agent at Dolly Lenz Real Estate in New York City, has been privy to many high-profile splits and shares that divorce settlement details typically hinge on the prenups and other contractual obligations that were in place before the marriage.
“However, most prenup terms well exceed the final settlement in order to get a signoff on the divorce, and the properties are divvied up to avoid the appearance of a fire sale,” she says.
For example, one billionaire couple that Lenz’s firm worked with had a $10 million prenup, but the ex-wife was able to get a $60 million settlement to secure her signature—which included two homes and seed money to start her new business venture.
In the case with Kardashian West and West, however, money like this is probably no big object. Kardashian West is the richest of her famous family, and the couple’s combined wealth exceeds $3 billion, which means dividing the properties they share might take on more meaning.
But California divorces sometimes turn out to be quite equitable as all assets acquired during the marriage are to be divided 50/50. In community property states, like California, division of homes purchased while together belong to both parties and are divided equally as well, says Bruce Ailion, a real estate agent in the Atlanta metro area.
So, looking at Kardashian West and West’s biggest real estate assets, here’s how we think the properties will be divided.
Google Maps
First up, the couple’s mansion in the star-studded community of Hidden Hills in Los Angeles, which was purchased for $20 million in 2014. Kardashian West reportedly wants to own it outright since this is the one place their children are settled into and call home. It’s also near her mother Kris Jenner’s home and her sister Kourtney Kardashian‘s place.
“Courts want to minimize the impact of divorce on the couple’s children, so often this means the custodial spouse will retain use of the marital residence,” says Ailion.
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The sticking point? It seems that Kardashian West owns the land in and around the house, but the actual structure belongs to her soon-to-be ex. Complicated!
The couple also reportedly poured a ton of cash (upward of $20 million) into an extensive renovation over the years. West engaged the exclusive Belgian designer Axel Vervoordt to handle the rehab and installed a completely white, monastic-style aesthetic throughout the home. Should Kardashian West take it over, it’s possible she might rip out some of the cold marble and make it a bit homier.
“Since West oversaw the redesign and owns the home, a sensible compromise would be for him to keep it and for her to build on the surrounding land for herself and stay in the home via some type of rent-back until the project is done,” says Cedric Stewart, a real estate agent with Keller Williams Capital Properties in Washington, DC.
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Somehow we just don’t see Kardashian West feeling at home in a very remote part of Wyoming—so Monster Lake Ranch, purchased in fall 2019, seems to have West’s name written all over it.
“The Wyoming property will go to Kanye as this is where he plans to build his technology, design, and innovation epicenter,” says Stewart.
The spot, which features two houses, eight cabins, plus several barns and corrals for horses, will require a herculean effort to transform it into a livable space for a celebrity of West’s level. Not only is the Wyoming ranch pretty much in the middle of nowhere, but transporting contractors and all the materials needed to build in a barren part of the country is a giant headache.
West’s plans for this compound apparently include a 10-bedroom, 52,000 square-foot mansion and two 10,000-square-foot underground garages, which will likely run him into the $50 million range, according to real estate experts.
The upside for West: The spot is extremely quiet and private (no paparazzi for miles).
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This fixer-upper ranch home isn’t exactly posh, but it’s directly next door to the couple’s Hidden Hills compound, bringing their total property ownership in this area to 8 acres. They bought it in 2019 for $3 million and apparently had plans to create a guest compound here and live off the land, growing organic vegetables and fruit.
This property sports four bedrooms, a pool, and gardens, plus a horse barn and corral. Since this one is also close to some Kardashian family members, we bet it’ll slide her way.
Last up, an undeveloped 2-acre parcel with a whopping price tag of $6.3 million. The plot was quietly purchased through a trust at the end of 2019.
Located two hours from Los Angeles in La Quinta’s Madison Club (a golf and tennis community), this area is a playground for the ultrarich and famous. It’s also close to the location of the Coachella music festival where West performed in 2019, so we’re moving this property to his portfolio.
However, both Kris Jenner and Kardashian’s little sister Kylie Jenner have homes nearby, so this particular real estate holding might cause a tussle in the end.
Source: realtor.com