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China’s real estate problems will make it harder for the country’s developers to access the U.S. debt market

Moody’s Investors Service said China’s real estate problems will make it harder for the country’s developers to access the U.S. debt market.

Chinese property developers have about $35 billion in dollar debt due this year

Problems in China’s real estate sector have been exacerbated in part by the debt crisis of Evergrande, once the country’s second-biggest property developer by sales. It is saddled with more than $300 billion in debt and is struggling to pay its creditors.

 

 

 

 

 

 

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Someone paid $630,000 for a digital home in the Metaverse next to Snoop Dogg’s computer mat

According to MSNBC, Metaverse real estate sales will exceed $700 million in 2021, and some experts predict that this number could double by 2022.

An example of this happened this week when someone paid $630,000 for a digital home in the Metaverse next to Snoop Dogg’s computer mat.

Someone who didn’t reveal its name with real money spent over half a million dollars on something that didn’t exist without a server, internet connection, or pixels on the screen.

 

 

 

 

 

 

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Dorinda Medley is cutting ties with her New York City apartment. It now sells for $2,495,000

In 2020, she rented the two-bedroom home for $9,950 while living in another apartment in the city.

According to the listing, an extensive renovation has just been completed. With 1,200-square-foot and 14ft ceilings and oversized windows, this unit offers two bedrooms, two bathrooms and huge closets.

Updates include luxury bathrooms with designer fixtures, new hardwood floors in living areas, and chef’s kitchen with stainless steel appliances.

 

 

 

 

 

 

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Marlon Wayans recently purchased the dazzling residence in the San Fernando Valley for $5.3 million 

The Enzino, Calif. home was originally listed for $5,395,000 in November, so Waynes got a small deal — especially considering the red-hot market in the Los Angeles area, where bidding wars are frequent Push the price above the asking price.

Built with entertainment in mind, the home’s other luxury features include a home theater and a multipurpose media/game room.

Outdoors, there is more active entertaining space around the pool with Baja shelving and spa. Other outdoor options include a basketball court/sports court, fire pit, BBQ pavilion and dining veranda.

 

 

 

 

 

 

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Home fortunes are setting new records for owners and sellers

Profits from a typical home sale last year were just over $94,000, a 45% increase from 2020 profits and a 71% increase from pre-pandemic profits.

About 42% of homeowners were considered wealthy at the end of last year available equity (more than the 20% that lenders typically require to back mortgages) rose by $2.6 trillion last year to a record $9.9 trillion.

 

 

 

 

 

 

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Stacey Onnen left eXp Realty presidence to be the new Keller Williams’ executive leadership team

Stacey Onnen, president of eXp Realty, is leaving her role at the real estate firm to join Keller Williams’ executive leadership team.

Onnen has over 19 years of real estate industry experience, from working as a real estate agent and local management broker to executive leadership.

At eXp Realty, she is President of Operations and oversees the brokerage business, including compliance, risk management and state licensing laws. She is also a former Regional and Operations Manager for Realty ONE Group.

 

 

 

 

 

 

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Leonardo DiCaprio appears to have found a buyer for his property located in California

The heritage-style home was originally listed for $5.75 million in August 2021. The following month, the price fell to $5,495,000. It then bounced back on the market at $4,895,000 in January.

DiCaprio, 47, bought the luxury 1926 property in 2018 for $4.9 million from musician and DJ Moby.

The expansive 4,644-square-foot space features five bedrooms, six full bathrooms and two and a half bathrooms.

 

 

 

 

 

 

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US under-30s are on the move while seniors remain flat in the market

They are buying, selling and moving at high rates, driven largely by career changes and the pandemic, according to a new State of Homeownership Report from insurtech platform Matic.

On the other hand, senior homeowners are less likely than younger adults to change their living arrangements or consider refinancing, the survey showed.

33% of homeowners under the age of 30 said they plan to sell their home within the next 18 months. However, only 13% of those over 60 said they planned to sell.

 

 

 

 

 

 

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The average rate on a 30-year fixed-rate mortgage was 3.55% this week

Mortgage rates generally held steady this week, a relief for homebuyers who have been watching weekly mortgage rate hikes since the start of the year.

“After a month of gains, mortgage rates were virtually unchanged this week,” said Sam Khater, chief economist at Freddie Mac. “The recent rate hikes have yet to have a significant impact on buying demand, as history suggests that potential home buyers who are on the sidelines typically enter the market in the state of a rate hike cycle.”

Economists predict that mortgage rates will continue to rise gradually this year. The National Association of Realtors predicts the average rate will hit 3.9% by the end of the year.

 

 

 

 

 

 

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