Solstock | E+ | Getty Images Halloween trick-or-treaters and jack-o-lanterns can be downright scary — for your homeowners insurance policy. There is a 14% jump in homeowners insurance claims on Halloween compared to other days of the year, according to Travelers Insurance. Theft on premises claims jump 46%. Trips or falls, thefts, fire and pet-related accidents
Month: October 2024
Stanley Black & Decker stock plunged Tuesday on the company’s quarterly earnings release — a move Jim Cramer said investors should capitalize on. Shares of the toolmaker shed nearly 12% Tuesday after third-quarter revenues and its implied fourth-quarter guidance came in lighter than Wall Street expected. Still, Jim described the decline as unwarranted. “I would
A “For Sale” sign in front of a home in Atlanta, Georgia, US, on Wednesday, Sept. 18, 2024. Elijah Nouvelage | Bloomberg | Getty Images Mortgage rates rose last week for the fourth time in five weeks, causing another pullback in refinancing. Total mortgage application volume was essentially flat, falling 0.1% compared with the previous
A town in Northern California that’s virtually full of billionaires is, believe it or not, going broke. Portola Valley — population 4,397 — was once dubbed the richest town in America, with a current average per capita income of $250,000. The co-founder of LinkedIn and the former CEO of Nike both call it home. Yet reports are
Signed contracts to buy existing homes in September jumped a surprising 7.4% compared with August, according to the National Association of Realtors. Analysts had been expecting about a 1% gain. These so-called “pending” sales were at the highest level since March and 2.6% higher than September of last year. Since pending sales are based on
Renderings of plans for a new development at the Bahia Mar marina in Fort Lauderdale, Florida. Courtesy: ArX Creative A team of developers including Related Group is launching a $2 billion development at the largest marina in Fort Lauderdale, Florida, aiming to create a “mini Monaco,” according to executives. The new development at the Bahia
Residential buildings under construction at China Vanke Co.’s Isle Maison development in Hefei, China, on Nov. 27, 2023. Bloomberg | Bloomberg | Getty Images China’s struggling real estate sector may not start turning around until the second half of next year — even with the latest stimulus measures, three research firms predicted this month. After
Thinking of buying a house? You might want to check if it comes with any spooky roommates. As Halloween approaches, Zillow’s recent state-by-state analysis reveals a spine-chilling reality: In most of the US, sellers are under no obligation to disclose if their property has a haunted past. Only New York, New Jersey, Massachusetts and Minnesota
Nazar_ab | E+ | Getty Images For most people, buying a home will be the biggest financial transaction they will make. It’s also generally considered a path to build wealth and increase your net worth, financial experts say. In the second quarter of 2024, U.S. homeowners with mortgages had a net homeowner equity of over
At the national level, the middle class is typically defined as households that earn between two-thirds and double the household median income. Based on 2023 figures, that means those with an annual income between $53,740 and $161,220. Compared to its peak, inflation in the U.S. has eased substantially. According to the Bureau of Labor Statistics,
The Los Angeles residence where “Friends” actor Matthew Perry passed away last year is now in the hands of a new owner. The home quietly sold for $8.5 million in an off-market deal, according to the New York Times. The property’s new owner, Arizona real estate developer and producer Anita Verma-Lallian, closed the transaction via
Amazon, which recently told 350,000 employees it wants them all back in the office five days a week, apparently needs more room for them. Jeff Bezos’ tech and retailing behemoth is in talks to lease all of HSBC’s 350,000 square feet at 452 Fifth Ave. when the bank moves to The Spiral next year, sources
There’s a new president in California. The Golden State’s famous White House replica sold Wednesday for a cool $23 million. Known as the “Western White House,” the 24,400-square-foot Georgian Colonial mansion was put on the market in June 2023 — and was sold well below its original $38.9 million asking price. The Western White House
A new-construction Palm Beach, Fla., compound has hit the market for $88 million. The estate, at 1540 South Ocean Blvd., comes with a guest house so new it’s still being completed — and a private tunnel to the beach on what locals call Billionaires’ Row. That said, it’s also near billionaire Ken Griffin’s compound —
Many factors make it hard to buy a home today, but the one that makes “the biggest difference” in today’s market is the housing shortage, Property Brother Drew Scott said at CNBC’s Your Money event on Thursday. “I don’t think people realize this shortage of housing that we have affects everything,” added his brother Jonathan
It’s an out-of-the-box undertaking. What is expected to be the “world’s largest building” has officially broken ground in Saudi Arabia. The ambitious $50 billion project — called The Mukaab — in capital city Riyadh is part of a wave of futuristic construction across the Arab nation, the Sun reported. A rendering of the massive Mukaab,
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage demand moved lower again last week, even though mortgage interest rates didn’t move. Total mortgage application volume dropped 6.7% from the previous week, hitting its lowest level since July, according to the Mortgage Bankers
Twenty/20 Saving for a home down payment can feel challenging, given current real estate prices. Using the right assets can help give your balance a lift. When you actually need the money is the “biggest driving factor,” said Ryan Dennehy, principal and financial advisor at California Financial Advisors in San Ramon, California. The firm ranked No.
It’s a tale of two cities. While ultra-luxury office towers in hot ’hoods are seeing massive asking rents of up to $300 per square foot, side-street buildings are lucky to rent for a mere tenth of those prices. On average, Manhattan asking rents are roughly $77 per foot, according to CBRE, but many basic office
Bond traders are at it again, pushing Treasury yields higher and signaling the Federal Reserve was too heavy-handed when it cut interest rates by a half-percentage point last month. The recently rising yields have put pressure on the stock market — and specifically, names in our portfolio tied to housing. The 10-year Treasury yield —
Sales of previously owned homes fell 1% in September compared with August, to a seasonally adjusted, annualized rate of 3.84 million units, the slowest pace since October 2010, according to the National Association of Realtors. Sales were 3.5% lower than in September 2023. Sales fell in three out of four U.S. regions, with just the
Actor Bill Murray’s former New York estate, which once contained the famous firepole from “Ghostbusters,” is back on the market for $3.69 million. The property, at 19 and 28 Ludlow Lane, is in the secret celebrity enclave of Snedens Landing, 11 miles north of the George Washington Bridge, in the Rockland County hamlet of Palisades.
Matt Champlin | Moment | Getty Images When a real estate agent works with a prospective homebuyer, they’re required to point out physical or material defects in the property. A death on the property? It depends on the state where the house is located. In most states, death doesn’t count as a material defect requiring
Welcome back, Vessel! At long last, the iconic vertical sculpture and sightseeing platform at Hudson Yards will become a hive of activity again on Monday, reopening to the public after more than three years. The gently tweaked, 16-story architectural folly is now safe for everyone and was worth the wait. Hudson Yards developer Related Companies closed
The double-townhouse residence of the late jet-setting couple Mica and Ahmet Ertegun has sold for $9.3 million, Gimme Shelter has learned. The proceeds of the sale, at 121-125 E. 81st., went to their charity, said brokers involved in the deal. The home was asking $12.9 million. Mica, a noted interior designer who fled Romania after the
Fashion Nova’s billionaire founder Richard Saghian has splashed out $30 million for a prime piece of Miami Beach property — two of them, in fact. The retail mogul scored two properties in a swift, all-cash deal: a luxe waterfront mansion and a house across the street, both located on exclusive North Bay Road, according to
A commercial building available for rent in Melville, New York, April 17, 2023. Howard Schnapp | Newsday | Getty Images The tide could be turning for commercial real estate. The Federal Reserve began its interest rate cutting cycle in September, lowering the Fed funds rate for the first time since 2020 by 50 basis points,
New Yorkers may soon be seeing more of Italian basketball player Danilo Gallinari. The veteran forward has just signed a contract for a two-bedroom, two-bathroom home at One Williamsburg Wharf in Brooklyn, Gimme Shelter has learned. The news comes amid buzz that the New York Knicks may sign Gallinari to a contract for training camp
As mortgage rates stagnate around 6%, prospective homebuyers are feeling nostalgic for the 3% interest rates of 2020 and 2021. Google search results for the term “assumable mortgage” spiked in May, following a steady upward trend starting in 2022. Mortgage assumptions allow buyers to take over an existing mortgage at its current rate, possibly securing
Morsa Images | Getty Buying a home is often the biggest financial decision you’ll ever make. It’s not just about choosing a place to live; it’s about making a long-term investment that will impact your financial future for years to come. Therefore, if you are looking to buy a home, there are certain steps you should