Home Buyers Give Puerto Rico Another Look During Pandemic

Dorado Beach, Puerto Rico

Javier_Art_Photography/iStock

Sales of Puerto Rican luxury houses and condominiums are spiking during the pandemic, with buyers from New York, California and other higher-tax states embracing the island’s low-tax status.

Developers of luxury projects are reporting increasing sales volume and prices compared with 2019. The uptick comes despite years of natural disasters and financial and political upheavals that made many wary of buying property in Puerto Rico.

Residents of the territory—who must live there at least 183 days a year—pay a Puerto Rico income tax of up to 33% but no other federal or local income taxes. Many wealthy individuals also are exempt from taxes on interest, dividends and certain capital gains.

Some U.S. cities or states, where some people already pay over 40% in income taxes, might raise taxes further to cover budget shortfalls. New Jersey Gov. Philip Murphy reached a deal this month with legislative leaders to increase taxes on incomes over $1 million. Opponents of that “millionaires tax” have said it would trigger an exodus of wealthy people from the state.

“As awful as the [pandemic] is, it breathes new life into the Puerto Rican economy,” said Rodrick Miller, chief executive of Invest Puerto Rico, a not-for-profit organization trying to attract business investment.

While up-to-date residential sales figures for the island overall aren’t available, developers of high-end projects report brisk business in recent months. The St. Regis Bahia Beach Resort, a high-end hotel and residential project developed by hedge-fund manager John Paulson, has made 34 sales of condominiums and home lots since the pandemic hit. That compares with 20 sales during the same time frame in 2019, according to Fahad Ghaffar, Mr. Paulson’s partner in Puerto Rico.

The average price of a beachfront condo has increased to $1,360 a square foot from $1,000 a year ago. “We’ve had a closing with a Zoom buyer that purchased a $5.4 million penthouse that hasn’t even been here,” he said, referring to the popular videoconferencing platform.

Demand also has been strong at the Dorado Beach resort. Developer CPG Real Estate LLC has signed 46 contracts for homes in The Isles, one of the resort’s new phases, with prices in the $1.9 million to $4 million range, according to Kenneth Blatt, a principal.

Most of the sales were signed after the pandemic hit. Buyers from the mainland are seeking low taxes while those from San Juan are seeking the open spaces and lower density of the gated community.

“It’s not dissimilar from what you’re seeing with people leaving New York for Westchester and Greenwich,” Mr. Blatt said.

Puerto Rico still hasn’t recovered from its own budget problems and Hurricane Maria in 2017. But rebuilding efforts were stoked earlier this month when President Trump said he was releasing $13 billion to rebuild the island’s electrical grid and schools.

The U.S. territory also is pressing hard to attract remote workers and businesses that face prolonged and uncertain returns to their traditional offices. Invest Puerto Rico has beefed up its outreach efforts to educate remote workers about the island’s tax incentives.

“In this Covid[-19] environment, [remote workers] can’t go to all the places that they used to because they’re not open to the U.S.,” Mr. Miller said.

These efforts are helping bring failed Puerto Rican residential developments back to life. Mr. Ghaffar said that he and Mr. Paulson in 2016 purchased 150 units of a failed project in the Palmas del Mar Resort on the island’s east coast that targeted middle market buyers. “We were selling about 10 per year and this year we sold over 28 units,” he said.

The demand also has encouraged some developers to plan groundbreakings on their first new Puerto Rican projects in years. Royal Palm Cos. plans to announce two branded resorts next year including a total of 95 residences on the island’s northeast coast, with prices for three-bedroom units starting in the $1 million to $2 million range.

The venture has changed its plans to increase the number of residences because of the pandemic. “It made sense because of the demand for residential now,” said Daniel Kodsi, chief executive of Royal Palm. “The primary driver right now in Puerto Rico is taxes.”

The post Home Buyers Give Puerto Rico Another Look During Pandemic appeared first on Real Estate News & Insights | realtor.com®.

Strangest COVID-19 Side Effect to Date: Real Estate ‘Quarandreams’

real estate dreams

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Here’s one of the weirdest side effects of the coronavirus pandemic that we’ve heard of so far: People around the world are experiencing a rash of bizarrely vivid quarantine dreams while sleeping, called “quarandreams.” And surprisingly often, these weirdly intense sleep visions are all about real estate.

Sleep experts and dream analysts agree that the rise of quarandreams is not surprising, given that many are under a lot more stress than usual, combined with the fact that it’s simply easier to remember dreams when there is less noise outside to wake us up mid-sleep cycle.

But why are so many of these pandemic dreams centering on homes?

Psychoanalysts dating to Carl Jung have traditionally viewed the house as a representation of the self. So what are these quarandreams trying to tell you? Is it time to relocate to the burbs, or upgrade to a bigger house?

“Dreams provide an entryway to the private discussions we are having with ourselves,” says dream analyst Layne Dalfenauthor of “Have a Great Dream: Decoding Your Dreams to Discover Your Full Potential.”

To help point you toward what your own dream subtext might be saying, here are some of the most common real estate quarandreams that crop up, and some interpretations on what they mean.

Dreaming of your childhood home

If the home you grew up in suddenly appears in your dreams—e.g., you’re 5 years old again playing ball in the backyard, or revisiting your childhood house as an adult—it typically means one of two things. Since a house is often a representation of your current emotional state, it may mean you’re either wishing to go back to memories of that time, or experiencing feelings associated with it.

For example, if the home of your youth was a happy place, you may be dreaming about it because you’re craving that feeling of security again—which would make sense during a pandemic. Conversely, if you hated your childhood, then the current COVID-19 confinement could be stirring up memories of how you wanted to flee the situation (which, of course, could tie in with how you’d like to escape this pandemic).

Dreaming of living in a mansion

Nighttime reveries of living in a palatial estate may seem to have an obvious subtext: You wished you were wealthier and could afford some posh digs, right?

Yet Dalfen suggests interpreting this less literally. For example, the mansion symbolizes some “splurge” you’ve been denied perhaps due to the pandemic.  

“This dream is encouraging action,” says Dalfen. “Do something to remedy how you are feeling.” Even if fulfilling your wish in its current form isn’t advisable, find another way to scratch that itch (e.g., rather than cooking your umpteenth dinner, treat yourself to takeout from a fancy restaurant once in a while). 

Dreaming of living in a tiny, cluttered house

If your dream has you wedged in a cramped, cluttered house, it may be tempting to take this at face value that your home just doesn’t have enough space. But on a less literal level, it could represent that you’re feeling trapped—in your house, career, relationships, or otherwise.

“Dreams speak in the language of metaphor, so the feelings of being closed in on could be your unconscious mind creating a dream scenario in which you are inspired to break out,” says Dalfen. 

It could also indicate that you’ve been keeping quiet about your frustrations. If, in the dream, you start cleaning up the mess or somehow decluttering, it could be your unconscious mind encouraging you to speak up about what’s bothering you to the family members or friends who might be cramping your style.

Dreaming of renovating your home

This dream probably has nothing to do with your desire to make over your kitchen, but everything to do with the need to embark on self-improvement in other areas of your life—perhaps a battle cry to shed those dreaded “COVID-19” pounds you’ve put on, or to reconnect with friends rather than vegging out in front of your TV.

One thing to pay attention to with this kind of dream is repetition. If you keep dreaming of renovating your home over and over and over, is it always the same room? Are the results successful?

“The repeating we do in dreams is our unconscious way of being sure you get the message you are sending yourself,” says Dalfen. 

Dreaming your house is filled with bugs or other pests

If you have nightmares of creepy-crawlies infesting your house, it’s a classic sign that you and your home’s inhabitants (be it a partner, roommate, or kids) are spending too much time together—giving your unconscious mind the sensation that they’re crawling all over you.

“This is a fabulous example of play on words and how we use them in our sleep as much as we do in waking life,” says Dalfen. In other words, if your kids are “on top of you” 24/7, your brain is saying it’s time to take a break!

Dreaming about losing the keys to your house

Dreams about keys often have to do with needing access. So if you’re dreaming about losing your keys or being locked out of your home, it could mean there’s someone you’re trying to “get through to”—like a busy boss or flaky friend—but you can’t “get in.” This dream could be prodding you to try a different tactic (i.e., key) to get a different result.

This is also a perfect analogy for quarandream analysis in general: If none of these scenarios we’ve laid out quite fits the real estate dreams you are having, try a different approach.

“Analyzing your dream and pinpointing the specific situation in your life that triggered it is like doing a puzzle.” says Dalfen. “You’ll try one piece—and if it doesn’t fit, you try another.”

The post Strangest COVID-19 Side Effect to Date: Real Estate ‘Quarandreams’ appeared first on Real Estate News & Insights | realtor.com®.

Best Cord Management Boxes

Organize the crazy pile of cords you have with a cord management box.

Organize the crazy pile of cords you have with a cord management box. (Bluelounge/)

You can’t also cut the cord, but you can at least control it with a cord management box. Find the one that best speaks to your personal cord dilemma. Is it large enough to manage your relentless sprawl of cords? Does the style and design match your personal tastes and décor? And will it not only hide your cords but organize them too? We believe these cable management boxes will do the trick.

Also protects pets and infants from injuries related to power strips out in the open.

Also protects pets and infants from injuries related to power strips out in the open. (D-Line/)

Organize your wires with this box that features three separate entries/exits for cords. Cable management boxes are available in small and large sizes and a variety of colors to meet your needs for function and aesthetics. The boxes block dust and present an exterior that is easy to clean. These boxes are made of electrically safe materials and the lid clicks locked so you can be confident that the lid is properly attached.

Made with ABS fireproof materials, which adds an additional degree of safety.

Made with ABS fireproof materials, which adds an additional degree of safety. (DMoose/)

This organizer for cords offers an aesthetics-friendly option for managing your cords without losing your mind.The box is suitable for use at home or in the office and helps to improve safety by reducing tripping hazards and preventing entry for small children and pets. The design of this box features a flat surface that is ideal for charging small devices, such as mobile phones and cameras on top of the box while the cords are safely nestled inside. The box delivers four accessible cord pass-throughs to help you manage cords coming into the box from a variety of angles and allows you to keep your home and office appearing much better organized in the process.

Different styles are available to accommodate different décor and design preferences.

Different styles are available to accommodate different décor and design preferences. (Tokye/)

The cable management box from Tokye also comes equipped with four cable clips, six cable ties, and one cable sleeve to help you keep your cords secure and organized in addition to safely hiding them out of sight. The box is appropriately sized to fit most six to 12-outlet power strips with ease. The Tokye box is made with premium materials for a high-quality look that will help you upgrade your style while hiding unsightly and somewhat embarrassing cord clutter in your living room, office, kitchen, game room, and even in your bedroom.

Made of flame-retardant plastic, easy to clean, and easy to manage.

Made of flame-retardant plastic, easy to clean, and easy to manage. (Bluelounge/)

Not everyone is interested in design features and aesthetics. Some people simply want a box that does the job of keeping cord clutter to a minimum, eliminating dust from becoming a problem, and keeps children and pets away from potentially dangerous cords. The Bluelounge box does just that with a design that accommodates wide and long surge protectors and provides additional space for large adapters or to keep excess cord slack. If you’re in the market for a cost-effective option for managing your tangled web of cords, this could be the one for you.

These 9 Homes With Indoor Pools Make a Splash No Matter the Weather

Homes with indoor pools

realtor.com

Fall is officially here, and outdoor pool season is winding down for large swaths of the country.

With public pools closed in most of the country this summer, folks were desperate for any sort of aquatic relief. Interest in above-ground pools, plunge pools, and stock tank pools all spiked as homeowners sought to beat the heat in their own backyard.

But for a select few, swimming pool season is year-round—and it never means having to dip a toe outside the confines of the house. For homeowners lucky enough to possess an indoor pool, practicing laps or simply dog paddling in the shallow end can take place any time of year.

And your own personal natatorium can be a reality! We’ve found nine homes with indoor pools for sale right now—so we invite you to wade on in.

Of course, this amenity doesn’t come cheap. Most of the homes we spotted come with price tags over a million bucks. For buyers with the cash to splash out, these homes present an intriguing opportunity. For those on a smaller budget, use these nine examples as inspiration for your own chlorine-soaked fantasies.

20 Southland Ave, Greenville, SC

Price: $2,000,000
Making a splash in South Carolina: Marketed as “one of Greenville’s finest homes,” this five-bedroom mansion has a classic exterior. However, we’re more interested in the glorious pool. Located in a structure with skylights and abundant windows, the pool is bathed in natural light. After you’re done taking a dip, you can warm up in the hot tub or sun yourself in the adjacent courtyard area.

Greenville, SC
Greenville, SC

realtor.com

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8001 Oak St, Arvada, CO

Price: $740,000
Rocking retro vibes: Colorado’s already experienced its first winter snow, and it’s not even November. So an indoor pool in the Rocky Mountain State is the perfect hedge against frosty climes. This amoeba-shaped pool is attached to a five-bedroom home built in 1969. We adore the wood paneling on the walls and ceiling. Sliding doors next to the pool mean the area can easily open to the outdoors during warmer summer months. After you’re done cannonballing, prepare yourself a highball at the home’s wet bar.

Arvada, CO
Arvada, CO

realtor.com

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10 Bowie Pl, Colts Neck, NJ

Price: $2,149,000
Natatorium in New Jersey: This four-bedroom home is said to be inspired by legendary architect Frank Lloyd Wright. While Wright was a fan of incorporating natural elements into his organic designs, we’re not sure if he ever drew up a place with an indoor pool. The light-filled pool room echoes the rest of the home, where windows and natural light are plentiful. Forget the shore, get your laps indoors!

Colts Neck, NJ
Colts Neck, NJ

realtor.com

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9286 Falling Waters Dr E, Burr Ridge, IL

Price: $1,750,000
Bargain mansion included: This massive 11,000-square-foot mansion is priced at only $158 per square foot—half the price it sold for a decade ago. Plus there’s this pool! We’re not sold on the brick surrounding the pool and the Juliet balconies overlooking it, but it’s a place to splash around during the bitter Illinois winters.

Burr Ridge, IL
Burr Ridge, IL

realtor.com

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27500 La Vida Real, Los Altos Hills, CA

Price: $39,998,000
Swanky in Silicon Valley: The priciest home with an indoor pool we’ve spotted sits in the hills overlooking Silicon Valley. The 21,000-square-foot residence also comes with a home theater and wine cellar. If you’d like to sip your favorite chardonnay while in the water, you can—the pool features a swim-up bar. And if you need to conduct business after a swim, the home is equipped with a spacious office space and conference room.

Los Altos Hills, CA
Los Altos Hills, CA

realtor.com

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1275 Silver Tip Ln, Evergreen, CO

Price: $6,500,000
The place for exercise: Besides an indoor pool, this Rocky Mountain mansion comes equipped with a tennis court and indoor gym. The wide deck surrounding the pool means there’s plenty of space to gather after taking a dip. An adjacent kitchen and bar area also means sustenance is never out of reach—which is crucial after a big workout.

Evergreen, CO
Evergreen, CO

realtor.com

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95 Lane 242 Lks, Angola, IN

Price: $1,175,400
This pool needs TLC: This isn’t the prettiest pool we’ve ever seen, but we have a feeling it can be resuscitated. And the same goes for the rest of this Midwest masterpiece. This five-bedroom home in Indiana is a time capsule in need of a savvy buyer to unlock its ’70s-era charms. With a few key updates, this oval-shaped pool could provide a swingin’ great time for a new owner.

Angola, IN
Angola, IN

realtor.com

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21811 Hillandale Dr, Elkhorn, NE

Price: $1,100,000
Natatorium in Nebraska: This four-bedroom home is filled with all sorts of modern design flourishes. In welcome contrast, the indoor pool area is simple and unadorned. Best of all? There’s a diving board! Practice your half-pike without ever setting foot outside your front door.

Elkhorn, NE
Elkhorn, NE

realtor.com

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612 Rivercrest Dr, McLean, VA

Price: $12,800,000
Diplomatic immunity? This castle just outside Washington, DC, emanates strong embassy vibes. Inside the 16,000-square-foot residence you’ll find large expanses of marble, columns aplenty, and plenty of other ornate details. The pristine pool area is surrounded by a large deck—ideal for an ambassador or attache to host fellow dignitaries.

McLean, VA
McLean, VA

realtor.com

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Caution: A Housing Crisis Could Be Coming for These 10 Cities

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With no end in sight to the coronavirus pandemic and the job losses and financial pain the crisis has wrought, millions of U.S. homeowners are behind on their mortgage payments and struggling to hang on to their abodes.

First-time, minority, and lower-income homeowners are among those most at risk of losing their homes. About 17.4% of the roughly 8 million Federal Housing Administration mortgages, primarily made to these more vulnerable borrowers, were delinquent in August. Roughly 11.2% of FHA loans were seriously delinquent.

Put another way, that means about 1.4 million households are in danger of losing their homes if they can’t begin making their mortgage payments again in the near future. FHA loans cater to borrowers who often have lower credit scores and higher debt loads. These loans, whose required down payments are as low as 3.5% in many instances, made up about 15% of all mortgages in 2019.

Certain metropolitan areas are more at risk than others. Atlanta’s metro region has the highest number of delinquent mortgages, according to a recent analysis of federal mortgage data from the Housing Center at American Enterprise Institute, a right-leaning think tank based in Washington, DC. These late payments could eventually turn into foreclosures if the economy doesn’t turn around.

“FHA loans are the canary in the coal mine,” which could be signaling greater trouble ahead, says Tobias Peter, director of research for the housing center. “These are the loans that would be the first ones to go delinquent.”

Those with government mortgages are eligible for up to 12 months of mortgage forbearance, allowing them to postpone their payments. It’s unclear at this point whether the program will eventually be extended if the economy doesn’t improve.

In the Atlanta metro, more than 53,000 FHA loans are delinquent. (Metros include the main city and surrounding towns, suburbs, and smaller urban areas.) FHA loans make up about 21.2% of all mortgages in the Atlanta area.

The Houston metropolitan area had the second-highest number of delinquent FHA loans. It was followed by Chicago; Washington, DC; Dallas; Riverside, CA; Baltimore; San Antonio, TX; Orlando, FL; and Tampa, FL.

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Watch: What the Latest Jobs Numbers Say About the Housing Market

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The late payments aren’t surprising as the nation had an 8.4% unemployment rate in August, according to the U.S. Bureau of Labor Statistics. Those working in food service, retail and tourism, and the hospitality and leisure industries suffered some of the highest job losses.

As of Sept. 22, roughly 3.6 million homeowners, making up about 6.8% of mortgages, were enrolled in forbearance programs as a result of the pandemic, according to Black Knight, a technology, data, and analytics company. That’s down 7% from the prior week.

Communities of color could be the most affected by another foreclosure crisis.

“The same neighborhoods that were hardest hit by foreclosures in ’06 and ’07 during the Great Recession are the same neighborhoods where we’re seeing these delinquencies spiking,” says Peter. “It’s very troublesome.”

If there is another rash of foreclosures in a particular neighborhood, it can spiral quickly, lowering property values for homeowners who never missed a payment.

However, no one knows just yet if there will be another full-fledged foreclosure crisis. The federal government could extend mortgage forbearance or the economy could improve.

“The real question is when all of the government benefits ends and we’re still in economic doldrums, that’s when we could see real trouble in the housing market,” says Peter. “But if the economy has recovered by then, people should be able to pay back their loans.”

The post Caution: A Housing Crisis Could Be Coming for These 10 Cities appeared first on Real Estate News & Insights | realtor.com®.

Hold My Beer! Condo Lined With Budweiser Cans Is This Week’s Most Popular Home

most popular homes 9/25

realtor.com

A Florida condo lined wall-to-wall with Budweiser cans crushed the competition this week. Guzzling down six times as many clicks as the runner-up, the aluminum-based work of outsider art is the week’s most popular home on realtor.com®.

Beer cans cover nearly every square foot of the condo—including the ceilings. And while a few empties strewn about do conspire to make a home messy, these strategically arranged cans create a masterwork.

You may not appreciate the artist’s chosen medium, but you must cheer one man’s devotion to a singular—if somewhat blurry—vision.

Sadly, the original owner of the place is now deceased, and the listing agent tells us that multiple offers on the $100,000 residence have come in.

The new owner now has an incentive to keep the cans right where they are.

Budweiser shared the listing photos on its Facebook page and has offered to keep the fridge stocked with beer—as long the condo buyer keeps the cans intact. How’s that for a deal sweetener?

Besides the suds-soaked condo, you also clicked on Derek Jeter‘s mansion on Tampa Bay, a pristine Palm Springs 1960s time capsule featured on Netflix, and a couple of historic mansions in the Midwest.

Fans of modern design must see an Illinois home built with a corrugated steel roof, which appears to float among the trees.

While we look for a coaster, we invite you to pop open your beverage of choice and scroll on down for a full look at this week’s most popular homes…

10. 1026 Ocean Blvd, Hampton, NH 

Price: $5,900,000

Why it’s here: Oceanfront in New Hampshire? Yep, a small southern slice of the Granite State faces out to the Atlantic Ocean. And this custom mansion takes full advantage of its oceanside location.

Highlights of the massive four-bedroom beach house include ocean views from almost every vantage point, a cherry-paneled library, and a cherrywood paneled elevator to shuttle folks to all three floors.

Outside, there’s a waterfront deck, lush landscaping, and access to a sandy beach.

Hampton, NH
Hampton, NH

realtor.com

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9. 17905 Hood Ave, Homewood, IL 

Price: $339,000

Why it’s here: This industrial mod glass-and-steel home was built in 1982 by the architect David Hovey. Perched high on a ridge and backing up to the Walton Preserve, it’s designed for communing with surrounding nature, thanks to its walls of windows.

Outside, the home features lush gardens and an ipe wood deck with swim spa. Inside, highlights of the two-bedroom home include a custom kitchen, as well as a master bedroom suite supported by steel columns, which feels like a treehouse.

Homewood, IL
Homewood, IL

realtor.com

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8. 54 Pleasant St, Unit 3, Concord, NH

Price: $498,000

Why it’s here: Here’s an option ideal for a buyer who loves the idea of a savvy church conversion and doesn’t feel like putting in the work. The former Sacred Heart Church—built in 1933—was recently converted into 10 luxury condo units, and this unit gets an amen from us.

Luxe interior touches of the two-bedroom residence include 9-foot ceilings with crown molding and hardwood floors.

A private patio caps off this modern unit in one of Concord’s most distinctive buildings. Quite apart from the holy vibes, it’s close to arts, culture, and shopping.

Concord, NH
Concord, NH

realtor.com

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7. 3024 Pierce St, Sioux City, IA

Price: $189,000

Why it’s here: Family-friendly and waiting for a new owner, this four-bedroom home has it all. Namely space, a series of recent updates, and loads of potential.

The backyard has a new stamped-concrete patio, and the remodeled kitchen leads to a screened porch out back.

It’s the roomy front porch, though, that’s likely to attract a buyer, with visions of long, lazy afternoons.

Sioux City, IA
Sioux City, IA

realtor.com

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6. 2581 Effingham Hwy, Sylvania, GA

Price: $599,000

Why it’s here: Built in 2017, this modern four-bedroom farmhouse offers 3,125 square feet of rustic and stylish space.

Inside, the home features signature farmhouse touches, like shiplap ceilings, exposed beams, and a large fireplace.

A bonus for a skittish buyer: The home also boasts a safe room! Outside living is lovely, with a large entertaining area including a fireplace, kitchen, and an outdoor shower.

Sylvania, GA
Sylvania, GA

realtor.com

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5. 2055 S. Joshua Tree Pl, Palm Springs, CA

Price: $1,969,000

Why it’s here: Turnkey time-capsule alert! Built in 1969, this exquisite desert home is back on the market again, and has retained all of its period-appropriate fab furnishings and decor.

The home sits on a quarter acre in the Twin Palms neighborhood, and time has stood still in many of its rooms.

A few key updates to the kitchen and outdoor spaces were chronicled on the Netflix show “Stay Here.” For a buyer looking for a retro showpiece, this Palm Springs place has everything.

Palm Springs, CA
Palm Springs, CA

realtor.com

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4. 2102 Mount Vernon Ave, Toledo, OH

Price: $399,900

Why it’s here: A classic mansion for less than $400K. Make your way to Toledo! Stately and majestic, this 1928-built Tudor has been recently restored.

The six-bedroom home boasts a grand foyer, plaster ceilings, curved staircase, remodeled kitchen, and a sunroom with tile and hand-painted leaded glass doors.

For fun, there’s a basement with a billiard-room.

Toledo, OH
Toledo, OH

realtor.com

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3. 129 S. Granger St, Saginaw, MI

Price: $325,000

Why it’s here: Prestigious and historic, this five-bedroom home sits on a lot of more than half an acre in Heritage Square.

It was built in 1916, and its grand features include a mahogany library, two dining areas, a second-floor master suite with a corner office, and a third-floor ballroom.

Outside, the parklike grounds boast a patio, Victorian garden, and water fountain.

Saginaw, MI
Saginaw, MI

realtor.com

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2. 58 Bahama Cir, Tampa, FL

Price: $29,000,000

Why it’s here: This All-Star waterfront mansion is being sold by the New York Yankees legend Derek Jeter. The estate has also recently hosted the NFL legend Tom Brady and his family, as they stylishly acclimate to the Tampa Bay area.

The massive custom mansion was built in 2011, on 345 feet of open bay. It’s the biggest waterfront property ever built on Davis Islands, and features a staggering 9,000 square feet of covered porches, as well as a dock with two boatlifts.

Inside, you’ll find a massive gourmet kitchen, wine cellar, theater, professional gym, and an au pair wing.

Tampa FL jeter mansion
Tampa, FL

realtor.com

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1. 4707 Lucerne Lakes Blvd E., Apt 102, Lake Worth, FL

Price: $100,000

Why it’s here: For all you do, this Bud’s for you. In our understatement of the year: The now-deceased owner of this two-bedroom condo was a big fan of Budweiser beer.

He was such a steadfast devotee of the King of Beers that he lined the entirety of his home in Budweiser beer cans.

The only exception? The two bathrooms remain blissfully unadorned, which leaves the new owners at least a smidgen of space to put their own stamp on things.

Of course, the internet took notice of this project, and the listing was circulated far and wide on social media. If the new owner decides to keep the cans as is, Budweiser has committed to filling the fridge with beers for life.

Lake Worth, FL
Lake Worth, FL

realtor.com

The post Hold My Beer! Condo Lined With Budweiser Cans Is This Week’s Most Popular Home appeared first on Real Estate News & Insights | realtor.com®.

Looking for a Home in the Suburbs? Good Luck, So Is Everyone Else

IP Galanternik D.U./Getty Images

The pandemic has transformed American lives in ways large and small. One of the more surprising side effects: The suburbs are suddenly the hot place to live. COVID-19 has helped transform spacious, single-family homes in those leafy, green oases into the most desirable real estate around—at the expense of the big cities. And this may be shaping up as a long-term shift away from the urban centers that have defined the nation for decades.

But many of those once-die-hard urbanites fleeing to the burbs would have likely left the city anyway. The coronavirus simply sped up their departures.

Last month, home shoppers spent more time looking online at properties in the suburbs than in cities, according to a recent realtor.com® report. Asking prices also rose faster in the suburbs as a lack of homes for sale coupled with a surge in demand for larger abodes with large backyards drove them right up. This shift in demand from urban to suburban areas was most pronounced in the nation’s largest metropolitan areas.

“COVID-19 accelerated this trend,” says realtor.com Chief Economist Danielle Hale. “People are looking for space and affordability, and [the suburbs are] where they can find it. Especially as millennials are at an age where they’re settling down and expanding their families, they’re realizing how nice it is to have more space.”

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Watch: What the Latest Jobs Numbers Say About the Housing Market

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The analysis looked at the number of active home shoppers on realtor.com, the inventory of newly listed properties as well as active listings, home list prices, and the number of days a property is on the market before it goes under contract.

As in pre-COVID-19 days, many folks start considering leaving urban areas after they have their first child. They’re more likely to pull the trigger after their second. And the millennials who flocked to the cities are getting older, settling down, and having children en masse.

“All you need is a catalyst to precipitate the change,” says demographer Ken Gronbach, of KGC Direct based in Benita Springs, FL. “These people were going to move out of the cities anyway. Maybe it would have been in five years, but then there was COVID-19.”

“That’s just what happens when time passes,” says Dowell Myers, an urban planning and demography professor at the University of Southern California in Los Angeles. “The same group that loved the city now needs a lot more space.”

This may help to explain why in August aspiring home buyers looked at suburban home listings 53.9% more than they did the previous year, according to the realtor.com analysis. Listing views were up a little less, by 50.7% year over year, in urban areas. In the 10 largest metropolitan areas, such as New York City and Los Angeles, that gap widened to 56.4% growth in views in the suburbs compared with 43.6% in the cities.

Hey, it’s easier to stay 6 feet apart in a single-family home with your own backyard than in an apartment or condo in 40-story towers where residents share elevators, laundry rooms, and a roof deck—that is, if they’re lucky enough to have those amenities.

However, even if city denizens want to move to the burbs, they may have a hard time finding a house. The pandemic has greatly exacerbated existing shortages of properties on the market at the same time it created a surge in demand.

The number of homes for sale dropped 41.2% year over year in the suburbs compared with 34.3% in the cities in August, according to the report. New listings were down 12.1% and 8% respectively. In the 10 biggest metros, the overall inventory of homes for sale plunged 40.2% in the burbs and 13.4% in urban areas.

That shortage has caused prices to spike. List prices were up 7.3% in the suburbs and 7.7% in the cities at the end of August, according to the report

The price increases, however, likely won’t dissuade buyers who have held on to their good-paying jobs during the crisis. Now that more companies are considering long-term, work-from-home plans, many of these employees find themselves less tethered to living within easy commuting distance to city business areas. That could entice them to move farther out into the cheaper suburbs.

“The flexibility to work remotely is accelerating this trend,” says Hale. “When the commute’s not a daily thing, it’s easier to justify living farther away from work—especially when you get more for your housing dollar farther away.”

However, folks shouldn’t count the cities out just yet.

Once there is a widely available vaccine and folks are encouraged to socialize again, a new crop of younger adults will once again head to the cities—even if Generation Z is a significantly smaller group than millennials.

“A lot will depend on how things change in response to the pandemic in the long run,” says Hale. “Cities are still a vibrant place.”

The post Looking for a Home in the Suburbs? Good Luck, So Is Everyone Else appeared first on Real Estate News & Insights | realtor.com®.

Best Bikes for Leisurely Rides

Rediscover the outdoors at a slower pace with these bikes.

Rediscover the outdoors at a slower pace with these bikes. (Pixabay/)

There are few things on earth as relaxing as a bicycle ride. Finding a great bike for taking that ride allows you to enjoy amazing sight-seeing opportunities you would never fully experience in a car when you’re simply moving too fast. Slow down and enjoy the ride of your life when you view the world from the handlebars of these great bikes for leisurely rides.

Durability is something you won’t need to worry about with this number.

Durability is something you won’t need to worry about with this number. (Schwinn/)

With a variety of colors and your choice of aluminum or steel frame, this bike has a lot to offer youth and adult riders. Enjoy precision stopping thanks to the bike’s linear pull brakes. The bike itself has seven-speed Shimano twist shifters along with smooth gear changes, even when switching from smooth terrain to much bumpier rides. The wheels have alloy rims that are lightweight but rugged enough to handle most terrains. Top it off with the Schwinn frame and suspension fork for a ride that is responsive on most terrains.

Rugged urban tires and mechanical disc brakes set this model apart.

Rugged urban tires and mechanical disc brakes set this model apart. (Schwinn/)

While some consider it a lesson in patience while others view it as a romantic interlude, riding a tandem bike is a great way to spend quality time together. It’s also perfect for sightseeing and beachcombing, without having to worry about finding a great parking spot. This bike features a Shimano 7-speed twist shifter resulting in an impressively smooth shifting experience. The alloy caliper brakes deliver outstanding stopping power, and the seats are not only stylish, but they’re also comfortable, too. The rear seat features a low step-through bar, making it easier for shorter riders to get on and off the bike. The dual-density grips allow for a comfortable ride that isn’t hard on your hands.

This model was built with practicality and purpose in mind.

This model was built with practicality and purpose in mind. (Slsy/)

What a great way to stop, slow down, and enjoy a nice leisurely ride. Pack a lunch to bring along or take your bike to run weekend errands, thanks to its practical basket. You don’t even have to worry about heavy loads as this trike is built to support up to 350 pounds. The seven-speed tricycle may not tackle mountain paths the way other bikes do, but it does offer a fun afternoon of riding at a leisurely pace.

This bike is built to roll with nearly effortless ease.

This bike is built to roll with nearly effortless ease. (Mongoose/)

It’s not just the tires that make this bike by Mongoose a fun ride for a leisurely afternoon. Of course, you might have to work a little harder to keep a nice leisurely pace once you see how this baby can ride. Other points of interest about this bike include the smooth gear changes, precise speed control, and front and rear disc brakes that support outstanding speed control. The steel frame adds durability into the mix, letting you buy with confidence that this bike is built to last while the alloy rims keep the bike light without sacrificing strength.

Built to accommodate additional features like a basket or child carrier.

Built to accommodate additional features like a basket or child carrier. (sixthreezero/)

This bicycle was designed for women between five and six feet two inches tall. The bicycle itself is a single-speed, cruiser-style bike with wide aluminum wheels and large waffle tires. The saddle seat offers dual springs for added comfort. Ergonomic handlebars have a “comfort curve” for easy handling. Whether you’re riding to the beach, taking your child to the park, or running weekend errands, this bike is an excellent choice for women to consider.

What You Gain, and Sacrifice, When You Move Back In With Parents

Nick Allen and Andrea Martinez Allen, left, are moving into the San Francisco home of his parents, Barbara Allen and Mark Allen.

Sarahbeth Maney for The Wall Street Journal

After saving up for a place of their own, and setting off on a year of travel around the world, 29-year-old Andrea Martinez Allen and her husband, Nick Allen, thought their days living with family were numbered. Then came the pandemic.

When Covid-19 abruptly canceled their trip and brought them back to San Francisco this spring, they began to embrace the idea of more permanent multigenerational living. After five months in the house where Andrea grew up, she and Nick are now moving 3 miles away—to his parents’ house.

“When we think about long-term, like who knows how long this will be? We want to be near family. We want to be near people we love,” says Andrea, who works at a health-care nonprofit.

“What’s important? Is it you and your individual needs and wants, or is it, like, for the better of your community?” she says.

The Allens aren’t the only ones rethinking the value of the traditional, single-family setup, wondering if there’s strength in numbers instead. Multigenerational living has been on the rise since 1980, according to an analysis of census data by Pew Research Center. Covid is likely accelerating that trend, much like the 2008 recession did.

This time, there is both widespread economic uncertainty and flexibility for those workers who are newly remote. Many crave the space afforded by their suburban childhoods, need help from family to keep kids’ distance learning on track or worry it isn’t safe to spend time with elderly relatives unless they bubble together.

The Allens are embracing multigenerational living after the pandemic canceled their travel plans and brought new perspective.
The Allens are embracing multigenerational living after the pandemic canceled their travel plans and brought new perspective.

Sarahbeth Maney for The Wall Street Journal

It’s hard to say how many of these arrangements will persist after the pandemic. But Pew found that 64 million people—20% of the U.S. population—were living in households with at least two generations in 2016, the latest data it’s analyzed. Living arrangements could include grandparents and grandchildren, or parents with an adult child over 25. That’s up from 17% in 2009.

A June survey by the research center found that 22% of 9,700 respondents had moved due to the pandemic or knew someone who had. Most of those who had moved were now cohabitating with family.

“Multigenerational living is here to stay, whether the bump up it gets during the pandemic is temporary or not,” says D’Vera Cohn, a senior writer and editor at Pew. Many who move in with relatives view it not as a financial setback, but a way to build community and maintain ties.

Andrea grew up surrounded by family. She played with cousins who lived down the street, and her great-grandmother lived downstairs. Next door were her grandparents—the house was separate, but the families left their back doors unlocked and tore down the fence separating the two lots in the back to form a joint yard.

Andrea’s parents worked, so her grandmother picked her up from school, made her rice and beans and Mexican noodle soup and shared stories about the family’s journey from Mexico to the U.S. before she was born.

“I know their lives so well,” Andrea says of her grandparents. Even when her parents were absent—her dad logged nights and weekends as a garbage truck driver—she always felt like there was someone there cheering her on, or yelling at her if the occasion called for it. “I basically had many parents,” she says.

She loved the closeness, but also felt pressure to launch, especially after becoming the first in her family to go to college. She remembers telling herself: Leave the house, be independent, live the American dream.

After her 2018 wedding to Nick, the couple moved into her parents’ house together in what was meant to be a short-term stint to save money. (They pay $750 a month in rent.) Andrea noticed Nick found the transition jarring. He didn’t grow up around extended family. Andrea’s grandmother knocked on the back door bearing salsa; her mother offered to do their laundry.

“It’s definitely close,” Nick says. “I was a little apprehensive.”

There are still moments when it has felt like living in a fishbowl, say the couple, who moved straight back into their old room in May upon returning stateside. They hear her dad snoring through the wall. Andrea’s grandpa walked in on the couple making out in the kitchen.

But mostly this stretch has been a chance to connect with family, especially the older generation. Andrea’s grandmother taught her how to make salsa, and everyone was able to gather to celebrate her 78th birthday this spring without worrying about potential exposure to the virus. Even the fact that Andrea’s sister, also back at the house after Covid-19 upended her senior year of college, overhears the occasional marital squabble has a silver lining.

“It gives me an opportunity to talk about it without feeling like I’m unloading in a way,” Andrea says. “It’s like, oh well, you heard us fight, let me tell you about what happened.”

Nick, at work on a startup called Cutback Coach, which aims to help users build a healthier relationship with alcohol, has grown to appreciate the family time, too. Watching Andrea’s close relationships has helped him foster deeper connections to his own parents, the 32-year-old says. The prospect of moving in with them—where he and Andrea could have more space and potentially start a family of their own—began to feel less intimidating. “It feels like an expansion of our life basically rather than a contraction,” he says.

Now carved into three apartments, the Victorian house where Nick grew up is shared by his sister, her husband and their two daughters, who live on the second floor, and his parents, who live on the top floor. Andrea and Nick are set to move into the first-floor, three-bedroom flat, which had been occupied by renters. (Nick and Andrea will pay rent, too.)

The top two floors have a common space, where Nick’s parents and his sister’s family gather for weekly movie and pizza nights. The sounds of “My Little Pony” often drift up the stairs, reports Nick’s dad, Mark Allen, who occasionally wishes he could close off the area a bit more. But overall, Mark and his wife, Barbara, both 70, say they love having their grandchildren close. They get to share informal moments—like breakfast in pajamas or celebrating the immediate excitement of a lost tooth—without the weight of full-time caregiving.

“I’m not exhausted, I’m not stressed out every second,” Barbara says. “We get to kick back a little and just enjoy them.”

Everyone pitches in, whether it’s helping out with child care or grabbing groceries. Andrea says she sees the appeal in the setup: things like buying in bulk and swapping babysitting services save money and promote sustainability.

Some nerves linger as the move-in date approaches: Will the little ones overwhelm Nick and Andrea? What about adjusting to different communication styles? And how will everyone handle the logistics of the house—say, deciding what to put in the backyard or how to divvy up costs when things like a new roof are needed? The adults have talked about setting some ground rules, and agree that Nick’s parents get the deciding vote on big issues.

“It’s not a complete democracy,” Mark says.

But mostly, everyone seems excited to begin this new phase—what Nick describes as a chance to “build a community,” especially at a moment that has made isolation the default for so many.

“We know each other, but not really as adults,” Barbara says. “That casual living together is going to be a real gift.”

The post What You Gain, and Sacrifice, When You Move Back In With Parents appeared first on Real Estate News & Insights | realtor.com®.

Best Stands for Smartphones

A stand for your smartphone is a useful tool anywhere in the house.

A stand for your smartphone is a useful tool anywhere in the house. (Lamicall/)

With a handy smartphone stand, it’s easy to check notifications when they pop up, and you no longer need to find a wall or cup to prop up your phone while streaming your favorite shows. They also come in handy if you need to be hands free in the kitchen, the bathroom, or even in your car.

Before you buy stands for smartphones, you’ll need to consider your phone’s size to ensure you choose an option that works well for your device. And pay attention to the ergonomics of the stand, so you choose an option that’s comfortable to look at without constantly craning your neck. Start looking for a stand and you’ll quickly find there are hundreds to choose from, so we’ve helped you narrow your search with a list at a few great stands for smartphones we like.

Quick release button saves power and time when you need your phone fast.

Quick release button saves power and time when you need your phone fast. (Beam/)

One of the key features of this Beam Electronics stand is the quick release button. Push a button and you can easily slide out the phone, then press the arms on either side to clamp the phone in place again. It’s quick and easy. This stand also features 360-degree rotation so you get the best viewing angle every time. That’s helpful for safer driving, whether you’re listening to music, navigating, or talking hands-free. It’s compatible with most smartphones and electronic devices.

Easily find your ideal viewing angle with this model.

Easily find your ideal viewing angle with this model. (AUKEY/)

When you want optimal viewing, the AUKEY stand for smartphones offers you the ability to rotate through 360 degrees for the angle that works for you. It secures right to your dashboard in the car, and also features an extra sticker base designed for uneven or slightly curved surfaces. The magnetic attachment ensures your smartphone or GPS device is secure, and you can simply grab the device and go when you’re ready to remove the phone.

This weighted base is stable enough to support devices of all sizes.

This weighted base is stable enough to support devices of all sizes. (LISEN/)

While this LISEN desk stand is designed for smartphones, its weighted base also supports many smaller tablets as well. Both the angle of viewing and the height of the stand are adjustable, so you can find the height and angle that helps you keep your posture correct to reduce back and neck strain. The stand’s anti-slip design keeps the device in place and protects your device from any scratches. A convenient charging hole makes it easy to charge your device while using the stand as well. Designed to give you the best viewing experience, the stand won’t cover any part of the viewing screen so you can enjoy seeing the entire screen without a problem.

Anti-scratch finish and protective features protect from scratches.

Anti-scratch finish and protective features protect from scratches. (Lamicall/)

This cellphone stand by Lamicall is made from quality aluminum alloy featuring a nice finish, and that, along with the rubber non-slip pads on the bottom, protect your phone and your desk from any scratches. Compatible with all smartphones in cases between 4-8 inches in size, it’s perfect for most available brands. The phone cradle is designed to offer a comfortable viewing angle, and it not only works great on your desk, but it’s perfect for viewing recipes in the kitchen or keeping your phone on the nightstand by your bed while you sleep. Thoughtful design includes a large hole in the back to allow for charging so you can use it as a dock for your phone, too.

The gooseneck stand bends into any shape so you can use it anywhere.

The gooseneck stand bends into any shape so you can use it anywhere. (B-Land/)

The B-land stand for smartphones makes it possible to use your phone nearly anywhere with ease. The stand attaches to a flexible gooseneck, which can be bent into multiple shapes. Put it under the mattress to prop up the phone while you’re in bed, hang it around your neck for easy video chatting, or turn it into a stand on your desk or in the car. It accommodates most standard size smartphones between 2.2 and 3.3 inches wide. The rotation clip-on holder rotates 360 degrees, allowing you to use it at the best viewing angle. Its 70% aluminum-magnesium alloy construction offers a durable, sturdy stand that stands up well to daily use.