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Red Hot Chili Peppers bassist lists rock ties worth $9.8 million in SoCal

A pair of striking thoroughbred properties designed in different eras by architects Richard Neutra and Michael Maltzan are listed together.

Located in the La Crescenta suburb outside Los Angeles, the product is priced at $9,799,000.

According to Dirt, the owner of this cool compound is Red Hot Chili Peppers bassist Michael Peter Balzary, better known as Flea.

Neutra’s design is a 1,350-square-foot two-bedroom, one-bath condo with glass walls and a Bear Valley stone fireplace

 

 

 

 

 

 

 

 

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Miami is the most expensive real estate market in the country this 2022

According to a RealtyHop report, Miami is the most expensive real estate market in the country, surpassing New York.

Home prices in Miami have risen during the pandemic, driven by an exodus of homebuyers and renters from other states, many of whom have moved out of the Northeast. At the same time, wages have not grown at the same rate.

According to RealtyHop’s February Affordability Index, a family in the city of Miami needs to spend 78.7% of their income on housing costs. This is based on a median home price of $589,000 and a projected median household income of $43,401.

 

 

 

 

 

 

 

 

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“Housing Super App”: The new Zillow’s bet for 2022.

After announcing in November that it was exiting the iBuying business and laying off 25% of its workforce, Zillow Group launched a new growth strategy in the form of a “housing super app,” a digital platform designed to create easier and more convenient access. Simplify the moving process for clients.

Moving can add an additional $26,000 to $40,000. According to Zillow, 6.1 million existing homes in the U.S. will change hands in 2021. The company estimates that about 4.1 million or 67 percent of those home buyers use Zillow’s website and app.

Zillow’s efforts are expected to translate into annual revenue of $5 billion and an adjusted profit margin of 45% by the end of 2025.

 

 

 

 

 

 

 

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Global real estate report and expectation for 2022

The global real estate rental market is expected to grow from USD 2,164.29 billion in 2021 to USD 2,396.61 billion in 2022, at a compound annual growth rate (CAGR) of 10.7%. 

The increase was primarily due to the company rescheduling its operations and recovering from the COVID-19 impact that earlier resulted in operational challenges due to restrictive containment measures involving social distancing, remote work and the closure of business activities. 

The market is expected to reach USD 3,476.58 billion in 2026, growing at a CAGR of 9.7%.

 

 

 

 

 

 

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‘Realtor’ is the most searched job search term on Google

The “big quit” trend sparked by the pandemic has prompted many to leave their current jobs in search of new roles. For many, it’s likely to be real estate, according to Google’s findings.

Google has published search trends for the most talked about jobs on its search engine. The list identifies the top jobs people are searching for in the United States.

Real estate careers in the industry have attracted more and more people since the pandemic began. The National Association of Realtors’ membership increased from about 1.4 million in 2019 to about 1.52 million in January 2022, according to the latest membership data.

According to Google research, the top 3 most searched jobs online in the US (in order) are:

Real estate agency

Airline stewardess

Notary public

 

 

 

 

 

 

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Samsung built an entire mini-city on the Ethereum-based Decentraland metaverse

Samsung, a South Korea-based giant with $200 billion in annual revenue, has created an immersive experience on Decentraland, exploring the corners of their city through various mini-games.

After entering through the portal at Samsung HQ or the Samsung 837X (they call it the Metaverse), you’ll see a giant transparent sprite (pictured above) asking you to find and collect at least five of the ten boxes and bring them with you Come back on them to get the promised gift.

There is a dancing disco stage with its own jump entrance and some good music. Also, the company created a big forest that conveys Samsung’s main message: sustainability.

 

 

 

 

 

 

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Soaring mortgage rates hits the highest level of the benchmark since January 2020

Soaring mortgage rates have made the prospect of buying a home more expensive for Americans — many of whom are already fed up with the state of the housing market.

Freddie Mac reported Thursday that the average rate on a 30-year fixed-rate mortgage was 3.69% for the week ended Feb. 10, up 14 basis points from the previous week. 

This is the highest level of the benchmark mortgage rate since January 2020, before the COVID-19 pandemic officially reached the United States.

Meanwhile, 15-year fixed-rate mortgages rose an average of 16 basis points to 2.93%. The average 5-year Treasury-indexed adjustable-rate mortgage rate was 2.8%, up 9 basis points from the previous week.

 

 

 

 

 

 

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Median sales price of an existing single-family home in the fourth quarter rose nearly 15%

Home prices continue to climb, increasing the wealth of homeowners and putting buyers in a position to consider how much home they can afford.

The National Association of Realtors reported Thursday that the median sales price of an existing single-family home in the fourth quarter rose nearly 15% year over year to $361,700. This is down slightly from 15.9% in the previous quarter.

The monthly mortgage payment on a typical single-family existing home with a 20% down payment was $201 higher than a year ago, at $1,240. That’s 16.9 percent of the median household income, according to NAR.

 

 

 

 

 

 

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The average home has been on the market for just 61 days, according to January data 

The average home has been on the market for just 61 days, according to January data from Realtor.com. This is the fastest speed ever.

Homes are selling faster in several metropolitan markets. In Nashville, the average is only 29 days. In Denver, 35 days. Las Vegas had a rate of 38 days and Seattle had 39 days.

The market is suffering from ultra-thin supply. New listings fell 9% year over year in January. Total inventories fell 28%.

 

 

 

 

 

 

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Miami Heat star Jimmy Butler has dug a new hole in Miami. The All-Star forward paid a whopping $7.45 million.

The 6,148 square foot, spacious, airy home offers six bedrooms and 6.5 bathrooms.

Details include oak hardwood floors, moldings, soaring ceilings and designer finishes. Layout offers gourmet kitchen, formal room, fireplace, library and bar. There is also a three-car garage.

The All-Star forward paid a whopping $7.45 million. The 6,148 square foot, spacious, airy home offers six bedrooms and 6.5 bathrooms.

Details include oak hardwood floors, moldings, soaring ceilings and designer finishes.

 

 

 

 

 

 

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