[Pictures] Bay-area housing burns to the ground

A massive fire destroyed several housing complexes in an area that desperately needs housing inventory, California’s Bay Area. Here are some of the pictures from the fire, and what was left at the end. http://www.housingwire.com/articles/38414-pictures-bay-area-housing-burns-to-the-ground ❤️ #share #mortgage

What was Kevin Costner doing at MBA Annual? Swinging for the fences with his investment

Celebrity sightings aren’t unusual at #mortgage industry conventions, but they usually involve keynote speakers or concert headliners. What is less common, even downright scarce, is the appearance of a bona fide movie star who has a real stake in a #mortgage company and shows up to talk about it. http://www.housingwire.com/articles/38416-what-was-kevin-costner-doing-at-mba-annual-swinging-for-the-fences-with-his-investment ❤️ #share #mortgage

Real Housewife of Atlanta Porsha Williams Buys a Mansion Near NeNe Leakes

A new “Real Housewife of Atlanta” has arrived in a gated community outside Atlanta — and she’s not even the area’s first.

Porsha Williams paid $1.15 million for a mansion on the same golf course as fellow “RHOA” NeNe Leakes, TMZ was first to report.

The drama factor is sure to rise with two housewives living large so close together. It’s Williams’ first home purchase since her divorce from retired NFL quarterback Kordell Stewart, and she celebrated on social media with the salvos “God bless the child that got his own” and, from Beyonce, “#BestRevengeIsYourPaper.”

This Georgia peach scored a beauty, with more than 5,900 square feet of classic architectural grandeur, from the colonial facade to the two-story marble foyer and great room.

Five fireplaces grace the 5-bedroom, 7-bath mansion, which boasts a chef’s kitchen alongside a breakfast room with its own fireplace and coffered ceiling.

The graciously sized master suite includes a fireplace, sitting area, luxurious master bathroom with a soaking tub, and a closet the size of some bedrooms.

Related:

• Kylie Jenner Scoops Up $12M Mansion in Hidden Hills
• Can You Handle Bethenny Frankel’s New Listing?
• 7 Secrets of Celebrity Real Estate

from Zillow Porchlight http://www.zillow.com/blog/porsha-buys-a-mansion-by-nene-207470/

Buying a house in the spring? Here’s how to save your credit score through the holidays

There’s not much time left before the malls are flooded with busy holiday shoppers. And although this may still seem far off, when the possibility of securing a home in the spring is on the line, the time to plan is now. Here’s how consumers can ensure they don’t destroy their credit score right before the busiest home-buying season. http://www.housingwire.com/articles/38415-buying-a-house-in-the-spring-heres-how-to-save-your-credit-score-through-the-holidays ❤️ #share #mortgage

Wells Fargo to pay $50 million to settle claims of overcharging for appraisals

It’s been a rough few weeks for Wells Fargo and things aren’t about to get any better. The besieged bank is reportedly set to pay $50 million to settle claims that the bank overcharged “thousands of homeowners” for appraisals conducted after the borrower defaulted on their #mortgage. http://www.housingwire.com/articles/38413-wells-fargo-to-pay-50-million-to-settle-claims-of-overcharging-for-appraisals ❤️ #share #mortgage

New American Funding expands in Midwest

New American Funding announced another expansion in the Midwest, opening a location in St. Robert, Missouri. As a result of the growth, the national #mortgage banker also announced a new branch manager. http://www.housingwire.com/articles/38412-new-american-funding-expands-in-midwest ❤️ #share #mortgage

American Housing Income Trust names new CEO

American Housing Income Trust, a real estate investment trust that operates single-family rental homes in Arizona, Nevada and Texas, announced the company will now have new leadership as the REIT looks to expand its business. http://www.housingwire.com/articles/38411-american-housing-income-trust-names-new-ceo ❤️ #share #mortgage

$106 million non-performing loan portfolio hits the market

Buyers looking to acquire a pool of non-performing loans have that opportunity, as a $106 million pool of non-performing loans is now on the market, according to MountainView, which is acting as the exclusive advisor for the sale. Here are the details of the deal. http://www.housingwire.com/articles/38408-106-million-non-performing-loan-portfolio-hits-the-market ❤️ #share #mortgage

Five things we learned from the 2016 home-buying season

[EXPERT COMMENTARY] With vacations over and the holidays coming fast, home buying is beginning to slow down. So, given all of the predictions for 2016, let’s review the better part of the 2016 home-buying season and see what we’ve learned, with an eye toward 2017. http://www.housingwire.com/blogs/1-rewired/post/38410-five-things-we-learned-from-the-2016-home-buying-season ❤️ #share #mortgage

Does Facebook customization option enable illegal housing discrimination ads?

New reporting by ProPublica shows that Facebook could allow advertisers to specifically target — or exclude — certain ethnic groups. While some groups are calling them out for this, Facebook insists it has done nothing wrong, and that it even takes action against ads that are illegal under the Fair Housing Act. http://www.housingwire.com/articles/38409-does-facebook-customization-option-enable-illegal-housing-discrimination-ads ❤️ #share #mortgage

Millennials: Ready to Buy a Second Home and Rent Out Your First?

There comes a time in many homeowners’ lives when it’s just time to move on to the next home. Maybe it’s because of a job change, the arrival of a kid (or more kids), a marriage or divorce, or you just don’t like where you live anymore.

Many millennial homeowners - who represent half of all home buyers these days, according to the Zillow Group Consumer Housing Trends Report  - are ready for that next home purchase. Maybe that describes you.

So, now you have a decision to make: Do you sell your first home, or hang on to it and rent it out?

Kate Currett, a millennial homeowner, rented out her first home in Utah for three years while living in her second home in Ohio. Her goal, like most who rent out a property, was to earn additional income.

Sounds simple enough, but there are many factors that you should weigh when making this big decision.

Financial perks and considerations

In addition to having the potential to make some money on renting a house, buying a second home and renting the first is one way to build a real estate investment portfolio.

Millennials, in particular, are typically in a good position to do this: You can convert your primary residence into a rental and “leave your owner-occupied mortgage intact, which was likely (and hopefully) obtained with a down payment and the most favorable mortgage interest rate, as low as 3.5 percent,“ says Kelly Hannah, a certified residential specialist at Eightline Real Estate.

Contrast that scenario with purchasing a non-owner-occupied property (that is, a house that you’re purchasing specifically to rent out): “[This] typically requires a 20-25 percent down payment with a mortgage interest rate that is generally 1.5 percent (or more) higher than you could get for an owner-occupied property,” Hannah explains.

Bottom line, it will likely cost less to convert the house you live in now into a rental and buy a second home to use as your primary residence than to purchase a second home to use as a rental property.

The financial hurdle you will have to leap is qualifying for a second mortgage. “In the beginning, [it was difficult] making sure we could qualify for a dual loan,” Currett admits.

But if you have a lease in place on your first home prior to closing on your second home, “your lender may allow a portion of those future rents to count as income in their calculation of your debt-to-income ratios,” Hannah says.

However, lenders “prefer to see that you have property management experience in order to count those future rents as income,” he warns.

Tax advantages

As for tax advantages to renting out one of your properties, Leigh Anne Bernal, a property consultant with cityhomeCOLLECTIVE, advises making it a priority to speak with an accountant, as tax rules can be complicated when renting out a property.

Generally, “the most substantial tax advantages to converting your current home into a rental come in the form of depreciating that property, the deduction of maintenance expenses, and the deduction of your mortgage interest,” Hannah explains.

The ideal rental property

Before you make any moves toward converting your home into a rental, you need to assess whether or not your home is  rentable.

Generally speaking, a “one- to three-bedroom home is going to be easier [to rent] than a larger home,” Bernal notes.

She suggests researching who the renters are in your city and the types of properties they rent. “The broader the appeal, the more luck you will have,” Bernal says.

Hannah adds that the best way to determine whether your home is an ideal rental property is to meet with a professional and “create a comprehensive strategy tailored to your individual situation and specific market.”

How to assess rental fees

Needless to say, rental rates vary greatly, “especially with respect to single-family homes and condominiums,” Hannah says, as rental rates for privately owned homes are not easily tracked.

Currett agrees, and notes that a tough part of owning a home while renting out another was balancing having a competitive rental rate and still making a profit.

However, a reliable way to determine the rent for your first home is to search the rental market for homes similar to yours.

“This will allow you to see what rental rates are in real time and space, and price your rental competitively,” Hannah notes.

“Do your homework,” Bernal says. “Take all of the costs into consideration, including property taxes and insurance.”

Perhaps the most difficult aspect of renting a property is being a landlord for the first time. Costs can come at you from all sides, from repairs to late or unpaid rent from tenants to property damage. Go in planning on incurring expenses beyond the mortgage payment.

“Some of this can be handled with a property management company, but that comes at a price, so make sure you have that included in your math,” Bernal advises.

Words of wisdom

When it comes to renting out your extra home, “Do it,” is Hannah’s advice. “Buy and hold is almost always a good idea.”

But Bernal recommends really analyzing your situation before making a leap: “If you’re in a seller’s market, that can make it tougher to get into your new home without cashing out the equity in your first home. You may be able to refinance your first home to get some of that equity out.”

Get more Landlord Resources or check out our Guide to Rental Property Management.

Related:

• Tax Tips for Rental Property Owners
• 4 Steps to Buying a Second Home
• Landlording 101: A Guide to Rental Property Management

from Zillow Porchlight http://www.zillow.com/blog/millennials-buy-second-rent-first-205087/

NAR: More single women buying homes

A new survey from the National Association of Realtors shows women broke their 13-year low and increased their share in the housing market to the highest it’s been since 2011 and over double that of single men. This is despite having annual incomes that are significantly less than men. But single women aren’t the only group increasing their share of #homebuyers. http://www.housingwire.com/articles/38407-nar-more-single-women-buying-homes ❤️ #share #mortgage

Taking the Fear out of the #mortgage Process

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be #mortgage qualification.

For many, the #mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need to have saved for a down payment (the average down payment on all loans was 11% last month, with many buyers putting down 3% or less), a stable income and good credit history.

Throughout the entire home buying process, you will interact with many different professionals, all of which perform necessary roles. These professionals are also valuable resources for you.

Once you’re ready to apply, here are 5 easy steps that Freddie Mac suggests to follow:

* Find out your current credit history & score – even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score of all closed loans in September was 731, according to Ellie Mae.
* Start gathering all of your documentation – income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
* Contact a professional – your real estate agent will be able to recommend a loan officer that can help you develop a spending plan, as well as determine how much home you can afford.
* Consult with your #lender – he or she will review your income, expenses, and financial goals in order to determine the type and amount of #mortgage you qualify for.
* Talk to your #lender about pre-approval – a pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change), and demonstrates to home sellers that you are serious about buying!

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure that you are ready to take on the financial responsibilities of becoming a homeowner. http://www.simplifyingthemarket.com/en/2016/10/31/taking-the-fear-out-of-the-mortgage-process/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Monday Morning Cup of Coffee: Prospects of a Trump presidency, and the good news in Detroit

There are still about 30,000 vacant houses and buildings in Detroit as a result of manufacturing job loss and the foreclosure crisis. But a program funded by unions to renovate vacant houses in Detroit has been so successful that it’s now being expanded to eight more Rustbelt cities, the AP reported on Sunday. All this and more in MMCC! http://www.housingwire.com/blogs/1-rewired/post/38406-monday-morning-cup-of-coffee-the-prospects-of-a-trump-presidency-and-the-good-news-in-detroit ❤️ #share #mortgage

2.5 million consumers hit by financial crisis ready to reenter housing

The time frame for borrowers who were significantly hit after the financial crisis to improve their credit score is about to happen, opening the door for a lot of consumers to reenter the housing market. Are you ready for this huge group of borrowers? http://www.housingwire.com/articles/38405-5-million-consumers-hit-by-financial-crisis-ready-to-reenter-housing ❤️ #share #mortgage

Zillow partnering with Facebook to increase real estate agents' reach

In a move that shows how much better companies are getting at reaching their desired audiences no matter where they are, Zillow announced a partnership this week with Facebook that will allow Realtors and real estate agents to target potential #homebuyers directly on their Facebook feed. http://www.housingwire.com/articles/38404-zillow-partnering-with-facebook-to-increase-real-estate-agents-reach ❤️ #share #mortgage

Here's how to navigate the turbulent waters between CFPB regulation and bankruptcy code

As each year goes by, #lenders and servicers spend more of their budgets on compliance to avoid regulatory potential pitfalls. The perception that the cost of proper training and revising current procedures outweighs the cost of litigation related to default bankruptcy servicing. This isn’t true. Instead, this is what you need to do. http://www.housingwire.com/blogs/1-rewired/post/38403-heres-how-to-navigating-turbulent-waters-between-cfpb-regulations-and-bankruptcy-code ❤️ #share #mortgage

OCC reveals major information security breach involving former employee

The top U.S. banking regulator revealed Friday that a former employee downloaded thousands of files from the agency’s servers without authorization nearly a year ago and that the agency has not yet been able to recover those files. Click the headline to read more. http://www.housingwire.com/articles/38402-occ-reveals-major-information-security-breach-involving-former-employee ❤️ #share #mortgage

Happy Halloween! Here are the top spots with the most “haunted” houses

It’s that time of year again. Have you seen your fill of haunted houses yet? If you live in one of these cities, you may not need to go far. These top 10 zip codes have the most haunted houses, or homes that are left vacant after the homeowner passes away. One city stands out above the rest. http://www.housingwire.com/articles/38400-happy-halloween-here-are-the-top-spots-with-the-most-haunted-houses ❤️ #share #mortgage

Campaign pain: What does this election season mean for #mortgage finance?

It seems like we’ve gone from caucus to raucous this election year.  Anyone not bombarded by the rancor is probably hiding under a rock. The rest of us, however, are left wondering not only who will occupy the White House next, but what we’re in for. For #mortgage and real estate professionals, there’s some interesting solace to be found in historical economic data. http://www.housingwire.com/blogs/1-rewired/post/38401-campaign-pain-what-does-this-election-season-mean-for-mortgage-finance ❤️ #share #mortgage

Here are 5 big insights from the new HMDA data

The release of the Home #mortgage Disclosure Act data for 2015 at the end of September gave an important status update on #mortgage origination market. Most notably, it showed the market continued to benefit from an improved housing market in 2015. Here are five takeaways from the new HMDA data set, according to one expert economist. http://www.housingwire.com/blogs/1-rewired/post/38398-here-are-five-big-insights-from-the-new-hmda-data ❤️ #share #mortgage

Fitch: Wells Fargo #mortgage servicer ratings unaffected by fake account scandal

While Wells Fargo is fighting to earn back its customers’ trust and fighting off various forays from legislators because of the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses, the bank’s ability as a #mortgage servicer is still on solid footing, according to a new repot from Fitch Ratings. http://www.housingwire.com/articles/38399-fitch-wells-fargo-mortgage-servicer-ratings-unaffected-by-fake-account-scandal ❤️ #share #mortgage

Consumer sentiment falls to lowest level in 2 years

Consumers’ confidence in the economy reached a two-year low in October. Experts are now analyzing whether this dip is due to an economic downturn, or just a dip right before the presidential election. http://www.housingwire.com/articles/38397-consumer-sentiment-falls-to-lowest-level-in-2-years ❤️ #share #mortgage

Feds appeal decision to release #FannieGate memos

The government is now fighting back against the court’s decision that ordered them to release 56 documents to the public that could show that the Treasury took over Fannie Mae and Freddie Mac despite the secondary #mortgage market firms being adequately capitalized. Now, however, the government claims the judge made that decision based on a misunderstanding of the principles that govern executive privilege. http://www.housingwire.com/articles/38396-feds-appeal-decision-to-release-fanniegate-memos ❤️ #share #mortgage

Could GDP growth lead to interest rate hike next week?

GDP growth came in higher than expectations, and experts are now saying that the Fed could be tempted to raise interest rates even as soon as next week. Here’s what they say about that, and how the improved GDP could affect next year’s home sales. http://www.housingwire.com/articles/38395-could-gdp-growth-lead-to-interest-rate-hike-next-week ❤️ #share #mortgage

Buying a Home Can Be Scary... Know the Facts [INFOGRAPHIC]

Some Highlights:

* 36% of Americans think they need a 20% down payment to buy a home.
* 44% of Millennials who purchased a home this year have put down less than 10%.
* 8% of loan applications were approved last month.
* The average credit score of approved loans was 731 in September. http://www.simplifyingthemarket.com/en/2016/10/28/buying-a-home-can-be-scary-know-the-facts-infographic/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Chinese Actress Li Bingbing Selling Her Brentwood Home

Chinese superstar Li Bingbing, most famous in the U.S. for her roles in blockbusters such as “Resident Evil: Retribution” and “Transformers: Age of Extinction,” has listed her Brentwood home for $2.98 million, and an offer is pending.

The 5-bedroom, 7-bath home comes in at almost 6,000 square feet and overlooks the exclusive MountainGate Golf Course.

Li, who is slated to be China’s first female superhero in the film “Realm of the Tigers,” purchased the home in June 2013 after her film career brought her to Hollywood.

The home is reminiscent of French style with parquet floors, neutral walls, and a detailed iron banister on the stunning winding staircase.

Natural light floods the home thanks to its dozens of windows, which provide gorgeous views of downtown Los Angeles and the golf course below. Interesting architectural details like tray ceilings and an almost cathedral-like foyer set this home over the top.

There’s no question that this home is suited for a movie star, with an 1,800-square-foot basement that houses a sauna and home gym. The real pièce de résistance, however, is the expansive deck that offers some of the best views in the city.

The listing agent is Sonny Saito of Sonny Saito & Associates.

Related:

• Leonardo DiCaprio Lists Second Home in a Month
• 7 Secrets of Celebrity Real Estate
• 10 High-Wattage Celebrity Home Handoffs

from Zillow Porchlight http://www.zillow.com/blog/li-bingbing-selling-brentwood-207344/

Warren, Sanders, other senators want answers from auditor KPMG on Wells Fargo

Wells Fargo is still answering for the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses, but now, a group of senators want to know if the bank’s auditor knew about the fake accounts too and whether the auditor did anything about it. http://www.housingwire.com/articles/38394-warren-sanders-other-senators-want-answers-from-auditor-kpmg-on-wells-fargo ❤️ #share #mortgage

Ellie Mae posts first $100 million revenue quarter

The record-breaking quarters for Ellie Mae are not slowing down. Once again, Ellie Mae reported record revenue, breaking the record that was set last quarter, which actually broke the record set in the quarter prior to that. This time, however, marks the first ever quarter that Ellie Mae posted more than $100 million in revenue. http://www.housingwire.com/articles/38393-ellie-mae-posts-first-100-million-revenue-quarter ❤️ #share #mortgage

Melia Homes hires EVP to oversee project management

This homebuilder in Southern California just hired Tim McSunas as its new executive vice president. Here’s more on how his previous positions prepared him for this role, and what he will now be responsible for. http://www.housingwire.com/articles/38392-melia-homes-hires-evp-to-oversee-project-management ❤️ #share #mortgage

Yes, the economy is finally ready for another interest rate hike

The economy pulled out of the lows that plagued the housing crisis, and yet interest rates still remain at historic lows. With the economy continuing to show strength in key areas, it’s high time the Fed looked at raising rates. The economy may not be perfect, but it’s ready. http://www.housingwire.com/blogs/1-rewired/post/38391-yes-the-economy-is-finally-ready-for-another-interest-rate-hike ❤️ #share #mortgage

Ocwen facing CFPB investigation, potential fine for servicing practices

It’s been nearly three years since Ocwen Financial agreed to offer $2 billion in consumer relief and pay up to $127.3 million to settle a Consumer Financial Protection Bureau investigation into its servicing practices. But it looks like Ocwen may not be done with the CFPB yet, as the company revealed Thursday that the bureau is currently investigating the company’s #mortgage servicing practices, which could lead to a fine and/or other disciplinary action. Click the headline to read more. http://www.housingwire.com/articles/38389-ocwen-facing-cfpb-investigation-potential-fine-for-servicing-practices ❤️ #share #mortgage

CFPB puts 44 #mortgage #lenders and brokers on notice over HMDA requirements

Approximately 44 #mortgage #lenders and #mortgage brokers are about to get a wake-up call from the Consumer Financial Protection Bureau, warning them that they might be in violation of the Home #mortgage Disclosure Act. The bureau, in sending these warning letters, made no determination that a legal violation did, in fact, occur, but the industry can take this as a notice that the bureau is watching. http://www.housingwire.com/articles/38388-cfpb-puts-44-mortgage-lenders-and-brokers-on-notice-over-hmda-requirements ❤️ #share #mortgage

Despite looming U.S. fine, stricken Deutsche Bank reports profit

The storm for Deutsche Bank AG in regards to its looming settlement with the U.S. Justice Department is still not over. But as the German bank awaits a final judgment, it posted an unexpected quarterly profit. Is this enough to calm investors? http://www.housingwire.com/articles/38387-despite-looming-us-fine-stricken-deutsche-bank-reports-profit ❤️ #share #mortgage

WCI Communities doesn't find better offer; $643M merger with Lennar to move forward

When WCI Communities, a “lifestyle community developer and luxury homebuilder” headquartered in Florida, announced last month that it agreed to a “definitive merger agreement” with fellow homebuilder Lennar for $643 million, the company said that its board was going to take a 35-day “go shop” period to seek a better deal. Now, the 35-day “go shop” period is over and the merger with Lennar is moving forward, but it’s not a done deal yet. http://www.housingwire.com/articles/38386-wci-communities-doesnt-find-better-offer-643m-merger-with-lennar-to-move-forward ❤️ #share #mortgage

Homeownership rate continues to hover near 50-year low

The homeownership rate increased slightly from last quarter, but still remain near lows not seen since 1965. The industry looks hopefully to the next generation of homeowners, Millennials, in hope that they will bring a surge to the homeownership rate. http://www.housingwire.com/articles/38385-homeownership-rate-continues-to-hover-near-50-year-low ❤️ #share #mortgage

Radian, Arch MI 3Q results are in and they look good

Results for the third quarter of 2016 continue to pour in for the #mortgage industry. The latest on the ticket is #mortgage insurance companies Arch MI and Radian. The results from both company share a common theme: the #mortgage insurance business is booming. http://www.housingwire.com/articles/38384-radian-arch-mi-3q-results-are-in-and-they-look-good ❤️ #share #mortgage

Freddie Mac: #mortgage rates drop back to near record lows

#mortgage rates decreased this week back to near record lows. This decrease erases all gains made in the jump last week. http://www.housingwire.com/articles/38383-freddie-mac-mortgage-rates-drop-back-to-near-record-lows ❤️ #share #mortgage

South and West drive increase in unsteady Pending Home Sales

Overall, pending home sales increased across the U.S. This was driven by the home sales in the South and West, which outweighed losses in other parts of the country. Buyer demand continues to increase, despite the lack of inventory. http://www.housingwire.com/articles/38382-south-and-west-drive-increase-in-unsteady-pending-home-sales ❤️ #share #mortgage

Percentage of Homeownership by Decade and by State

There has been a lot of talk about the falling homeownership rate in the United States. In December 2004, the homeownership rate reached an all-time high of 69.4%, while the current rate is 62.9%. When comparing these two figures, there is some room for concern regarding the difference.

However, today we want to shine some light on the issue by:

* Showing what historic homeownership rates have looked like over the last 130 years.
* Breaking down the current percentages by state.

Historic Homeownership Rates:

Current Homeownership Rates by State:

All of the states that you see in blue on the map above have a greater homeownership rate than the national average.

Bottom Line

Though the homeownership rate has fallen recently, the percentage is still at a healthy rate compared to historic numbers, and most states currently have a higher percentage than the national average. http://www.simplifyingthemarket.com/en/2016/10/27/percentage-of-homeownership-by-decade-and-by-state/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Look out housing, Millennials are about to take over

Millennials are the largest living population on this planet, and they may be better positioned than any other generation for homeownership. Why? Actually, it could be the very thing holding them back right now that drives them forward later. http://www.housingwire.com/articles/38379-look-out-housing-millennials-are-about-to-take-over ❤️ #share #mortgage

Bye-bye regulation, the #mortgage industry found a new focus: technology innovation

There was a clear difference in the atmosphere at the #mortgage Bankers Association’s annual convention and expo in Boston this year. A quick look at this year’s headlines compared to last year’s headlines shows the dichotomy between the two. The industry was so stifled by TRID last year that the burden carried over into the mood of the conference. This year, however, produced a different, better story. http://www.housingwire.com/blogs/1-rewired/post/38381-bye-bye-regulation-the-mortgage-industry-found-a-new-focus-technology-innovation ❤️ #share #mortgage

FormFree chosen to provide asset verification for Fannie Mae

Lost in all the hubbub about Fannie Mae’s big announcement this week that it would be offering #lenders protection from buyback risk, provided the #lender uses Fannie Mae’s Desktop Underwriter and Collateral Underwriter tools, was just how Fannie Mae intended to provide #lenders with that protection. So how is Fannie Mae going to verify a borrower’s assets? By using AccountChek from FormFree Holdings, as it turns out. http://www.housingwire.com/articles/38380-formfree-chosen-to-provide-asset-verification-for-fannie-mae ❤️ #share #mortgage

Billy Bush Lists Chelsea Luxury Townhouse

Billy Bush, formerly of NBC’s “Today,” is selling his 5-bed, 6-bath townhouse in New York City for $8.25 million.

The townhouse was reportedly renovated in 2015 and changed from a multi-unit apartment complex to a luxury home. Now, it’s a Manhattan miracle boasting over 7,000 square feet within walking distance of Big Apple icons like the Empire State Building and the Flatiron Building.

The home - located in the Chelsea neighborhood, famous for its art galleries and thriving nightlife - was built in 1901, but has a very modern feel, with floor-to-ceiling windows in the living area and a sleek kitchen with a long, rectangular center island and recessed lighting.

The master bathroom is the height of luxury, with marble floors, lavish fixtures, and a large soaking tub.

The elegance continues outdoors with a rooftop pool with stunning views of the city, and a private garden space with a barbecue and enough space for an outdoor dining table.

The listing agent is Howard Morrel of Engel & Völkers New York Real Estate.

Related:

• Clintons Buy the House Next Door in Chappaqua
• Leonardo DiCaprio Lists Second Home in a Month
• Emily Blunt and John Krasinski Buy in Park Slope

from Zillow Porchlight http://www.zillow.com/blog/billy-bush-lists-townhouse-207267/

Ocwen returns to profitability for first time since Q2 2015

Earlier this year, when Ocwen Financial reported a net loss for the second quarter, marking its fourth straight quarter of taking a loss, the company’s executives said that despite the “legacy” issues Ocwen faced, they believed the company was on a path back to profitability. What they didn’t say is just how long it would take the nonbank to get back into the black. As it turns out, it only took one quarter. http://www.housingwire.com/articles/38378-ocwen-returns-to-profitability-for-first-time-since-q2-2015 ❤️ #share #mortgage

Industry experts reveal details of HAMP replacement program

Experts at this week’s MBA annual conference revealed more details about the program that will replace HAMP: One Mod. A panel from the conference in Boston talked about some of the changes. http://www.housingwire.com/articles/38376-industry-experts-reveal-details-of-hamp-replacement-program ❤️ #share #mortgage

Don't move on too quick, TRID isn't over yet

Last year, TRID was everywhere. You couldn’t get away from the Consumer Financial Protection Bureau’s new Know Before You Owe rule. But while you likely have a better handle on TRID one year later, don’t forget that the news on TRID isn’t over. The #mortgage Bankers Association’s annual convention this year featured only one panel session on TRID, a significant change from all the hype surrounding it last year. Here’s what you still need to know. http://www.housingwire.com/blogs/1-rewired/post/38377-dont-move-on-too-quick-trid-isnt-over-yet ❤️ #share #mortgage

loanDepot opens direct-lending production center in Michigan

Another #lender is eyeing the Detroit area for its employee potential. The city is home to top companies such as Quicken Loans and United Wholesale #mortgage. And now, loanDepot announced it is opening a new direct-lending production center in the area. The Detroit comeback continues. http://www.housingwire.com/articles/38375-loandepot-opens-direct-lending-production-center-in-michigan ❤️ #share #mortgage

FHA lowers owner-occupancy requirements for condos

When President Obama signed the “Housing Opportunity Through Modernization Act of 2016 into law a few months ago, many celebrated the law because it brought changes to the Federal Housing Administration’s rules for condominium financing, among other changes. Wednesday, the FHA delivered, lowering its owner-occupancy requirements on certain condo developments. http://www.housingwire.com/articles/38374-fha-lowers-owner-occupancy-requirements-for-condos ❤️ #share #mortgage

SIGTARP moves to hold top brass accountable for bad bank behavior

Former Wells Fargo CEO John Stumpf and other Wells Fargo executives could still face criminal charges over how much the bank’s management knew about the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses. Even if Stumpf and the others don’t end up facing criminal charges, the Wells Fargo situation could still prove to be a tipping point as one financial regulator is proposing big changes that would hold executives personally responsible for the actions of their companies. http://www.housingwire.com/articles/38373-sigtarp-moves-to-hold-wall-street-ceo-execs-accountable-for-banks-actions ❤️ #share #mortgage

New home sales increase nearly 30% in September

Home sales increased in September after dropping the month before. However, although many economists expected this increase, noting that it showed strength in the economy, not everyone agreed. One thing they did all agree on: there is still room for more growth. http://www.housingwire.com/articles/38372-new-home-sales-increase-nearly-30-in-september ❤️ #share #mortgage

Consumer confidence tumbles down in October

After hitting post-recession highs, consumer confidence dropped in October. According to one economist, the upcoming elections could be putting many consumers slightly on edge. Here’s more about where Americans say the economy sits, and where it’s headed. http://www.housingwire.com/articles/38371-consumer-confidence-tumbles-down-in-october ❤️ #share #mortgage

MBA: #mortgage applications reverse course, drop

While it’s not a significant decline, #mortgage applications still reversed course and dropped in the latest #mortgage application survey from the #mortgage Bankers Association. However, it’s not like the last report’s increase was any greater. http://www.housingwire.com/articles/38367-mba-mortgage-applications-reverse-course-drop ❤️ #share #mortgage

What to Expect When Home Inspecting

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. Realtor.com suggests that you consider the following 5 areas when choosing the right home inspector for you:

* Qualifications – find out what’s included in your inspection & if the age or location of your home may warrant specific certifications or specialties.
* Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. The more detailed the report the better in most cases.
* References – do your homework – ask for phone numbers and names of past clients that you can call to ask about their experience.
* Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Often membership in one of these organizations means that there is continued training and education provided.
* Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human after all, and it is possible that they might miss something they should have seen.

Ask your inspector if it’s ok for you to tag along during the inspection. That way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof, crawling around in the attic, and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace & chimney, the foundation and so much more!

Bottom Line

They say ‘ignorance is bliss,’ but not when investing your hard-earned money in a home of your own. Work with a professional you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase. http://www.simplifyingthemarket.com/en/2016/10/26/what-to-expect-when-home-inspecting/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

MBA recognizes 3 companies with Diversity and Inclusion awards

As part of its initiative, The PrivateBank and Trust created a closing-cost assistance program that provides up to $2,500 to all low- and moderate-income borrowers and increased the ethnic minority composition of its sales force to 30%. http://www.housingwire.com/articles/38370-mba-recognizes-3-companies-with-diversity-and-inclusion-awards ❤️ #share #mortgage

More Wells Fargo fallout: Feds to look into sales practices at other Wall Street banks

Federal regulators are preparing to conduct reviews of the nation’s biggest banks, aiming to root out any of the aggressive cross-selling practices that led to Wells Fargo being fined $185 million for more than 5,000 of the bank’s former employees opening more than 2 million fake accounts to get sales bonuses. http://www.housingwire.com/articles/38369-more-wells-fargo-fallout-feds-to-look-into-sales-practices-at-other-wall-street-banks ❤️ #share #mortgage

Wells Fargo launches ad campaign to earn back customer trust

Over the last few weeks, the bad news came fast and furious for Wells Fargo. New reports suggest that it’s going to get worse for Wells Fargo before it gets better, but the bank is taking a proactive approach to try to earn back some of the goodwill lost through this scandal. http://www.housingwire.com/articles/38368-wells-fargo-launches-ad-campaign-to-earn-back-customer-trust ❤️ #share #mortgage

The Counteroffer: Negotiating a Real Estate Deal

Most Americans don’t have a lot of experience bartering for goods, but it’s one of the most important parts of the home-buying process.

Buying a home is rarely as simple as making an offer and paying that offer out. Negotiations can go back and forth for weeks before the seller and buyer are both satisfied.

The vehicle for this negotiation is the counteroffer - a vital and complex rejection and counter to an offer made by either party.

Counteroffers are typically handled between real estate agents and are time sensitive. Selling or buying a home is more of a process than a transaction, so it’s important to understand counteroffers before you make your first offer.

Why was I countered?

As a home buyer, if you make an offer below list price the seller may choose to reject, accept, or simply let the offer expire. If there are multiple offers, the listing agent will lay out the options for his or her client and then notify all buyers’ agents of the choices.

Sellers may also counter your proposed closing date. If they need to move out quickly, they may want to push it earlier. They may also ask to rent the property for a time after the settlement.

Price and closing date negotiations are common from both parties, but there are even more reasons sellers can potentially get countered.

The condition of the home is likely the biggest factor here. As home buyers conduct ongoing research into the home, any problems with the condition of the house can result in a counteroffer.

If you’ve chosen to take appliances with you when you move, buyers may also look to negotiate for those.

Appraisals are another reason for counteroffers. If an appraisal comes in below the agreed-upon sale price, it will affect the amount the mortgage company will lend to the buyer.

Negotiation power

When reviewing a counteroffer, it’s important to have an experienced real estate agent who can capitalize on your advantages in a negotiation. Both sellers and buyers can take steps to put themselves in an advantageous position through planning and smart counteroffers.

Knowledge is power in negotiations, so try to glean as much information about the seller or buyer as you can. Your agent will also seek information from the other agent on your behalf.

Sometimes sellers use the pending sale of their home to finance another, meaning they have a truncated timeline and could be more eager to make a deal. Similarly, buyers who have terminated a lease may be desperate for a place to live and more willing to negotiate.

If you’re selling a home with known issues, it’s important to anticipate how these problems may put you at a disadvantage during negotiations.

A leaky roof may not be discovered until after buyers order a home inspection. Depending on the cost, they may ask the seller to either fix the roof or deduct the cost of a new roof from the sale price.

These types of issues put sellers at a distinct disadvantage because they have to either pay for repairs, lower the selling price, or reject the counteroffer and hope the next buyer doesn’t notice or care about repairs.

This is why it’s worth the money (around $500) to pay for an inspection before listing a house. Preparation can save you headache and money down the road.

Responding to a counteroffer

If you’ve received a counteroffer as a buyer or a seller, carefully review every aspect. Real estate agents apart from yours are under no obligation to ensure you read the full contract. So make sure you read everything carefully before you sign.

With each individual counteroffer, take into account every aspect of the sale, including old and new information. If you made an offer above the list price, there is always the possibility for an appraisal to come in low.

If you are responding to a counter before an appraisal or inspection, keep those at the forefront of your mind. Prepare yourself for future counteroffers once they are completed.

Whether you’re selling or buying a home, it’s good to establish a baseline where you will walk away from a sale.

As a buyer, you don’t want to spend so much on a home that you move in with no cash for improvements and repairs.

And as a seller, you should have a hard figure in mind of how much you want to make off the sale of your home.

With a measured and informed approach, counteroffers can be your friend. Communicate often with your agent to let him or her know what you want from the sale and never be afraid to walk away if things go south.

Related:

• What to Do When a Seller Rejects Your Offer
• 3 Tips for Evaluating Multiple Offers
• 5 Signs it’s Time to Walk Away From a Home Purchase

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

from Zillow Porchlight http://www.zillow.com/blog/negotiating-the-counteroffer-206191/

Why we should quit wasting money on consumer education

Why invest hundreds of millions of dollars into a goal that can’t be quantified? How do we know if all consumers have been educated? If you have hundreds of millions of dollars that can only be spent on consumer education, it’s easy to imagine how that goal could take on a life of its own, spawning a bloated consumer education complex overnight. I’ve got a better idea. http://www.housingwire.com/blogs/1-rewired/post/38366-why-we-should-quit-wasting-money-on-consumer-education ❤️ #share #mortgage

RE/MAX getting into the #mortgage business; launches Motto #mortgage

While most the biggest names in #mortgage lending are focused on the #mortgage Bankers Association’s annual conference, taking place right now in Boston, one of the biggest names in real estate revealed that it is getting into the #mortgage business. On Tuesday, RE/MAX announced that it is launching Motto #mortgage, a #mortgage brokerage franchise that the company plans to take nationwide. Click the headline to read more. http://www.housingwire.com/articles/38365-remax-getting-into-the-mortgage-business-launches-motto-mortgage ❤️ #share #mortgage

CFPB head Cordray: Here are the next 3 priority areas for enforcement actions

Outlining the regulatory actions of the CFPB from 2014 to the present, Richard Cordray emphasized that the cost of compliance, though burdensome for the #mortgage industry, was only what it should expect in light of the damage it caused, saying regulations were “inevitable” in light of the “far-reaching” effects of the financial crisis that Congress was trying to fix. http://www.housingwire.com/articles/38363-cfpb-head-cordray-here-are-the-next-3-priority-areas-for-enforcement-actions ❤️ #share #mortgage

Case-Shiller: Rising house prices just below record highs

Home prices are continuing to rise; now mere basis points below the all-time highs for prices, set in 2006. According to the latest data released Tuesday by S&P Dow Jones Indices and CoreLogic, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, reported a 5.3% annual gain in August, just off the July 2006 peak. http://www.housingwire.com/articles/38364-case-shiller-rising-house-prices-just-below-record-highs ❤️ #share #mortgage

Economist: Home price gains aside, housing is still really affordable

Home prices are going up, in some markets already hitting housing boom peaks, but that doesn’t mean affordability is strained. According to First American’s chief economist, real home prices are actually far below housing boom levels, and much more affordable. Here’s the latest from what housing experts are saying in Boston. http://www.housingwire.com/articles/38362-economist-home-price-gains-aside-housing-is-still-really-affordable ❤️ #share #mortgage

Buying is Now 37.7% Cheaper Than Renting in the US

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate #mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!

Other interesting findings in the report include:

* Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
* Home prices would have to appreciate by a range of over 23% in Honolulu (HI), up to over 45% in Ventura County (CA), to reach the tipping point of renting being less expensive than buying.
* Nationally, rates would have to reach 9.1%, a 145% increase over today’s average of 3.7%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to help you find your dream home. http://www.simplifyingthemarket.com/en/2016/10/25/buying-is-now-37-7-cheaper-than-renting-in-the-us/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Homeowners facing foreclosure hits 9-year low

A new report from Black Knight Financial Services shows that by one metric, the housing market is healthier than it’s been since the crisis began. According to new data released Tuesday morning by Black Knight, the rate of loans in active foreclosure is lower right now than at any point in the last nine years. http://www.housingwire.com/articles/38361-loans-in-foreclosure-fall-to-9-year-low ❤️ #share #mortgage

This is where #mortgage technology is headed

Technology is revolutionizing the way our world thinks, works, communicates and even plays. When it comes to the housing industry, however, it seems to lag a bit behind, but that could all be about to change. Panelists from the MBA conference in Boston chime in on the subject. http://www.housingwire.com/articles/38360-this-is-where-mortgage-technology-is-headed ❤️ #share #mortgage

Freddie Mac announces new tools designed to cut #mortgage origination costs

Not to be outdone by Fannie Mae’s announcement that it plans to offer #lenders “Day 1” representation and warranty relief, Freddie Mac announced Monday that it is planning a series of enhancements to its Loan Advisor Suite designed to cut #mortgage origination costs for #lenders. http://www.housingwire.com/articles/38358-freddie-mac-announces-new-tools-designed-to-cut-mortgage-origination-costs ❤️ #share #mortgage

Fannie Mae relaxes standards slightly to allow for 3% down refinances

Fannie Mae did more Monday than just announcing that it planned to grant #lenders “freedom” from buyback risk. The government-sponsored enterprise also revealed to #lenders that it is expanding its HomeReady program, which features Fannie Mae’s 3% down #mortgage. http://www.housingwire.com/articles/38357-fannie-mae-relaxes-standards-slightly-to-allow-for-3-down-refinances ❤️ #share #mortgage

CoreLogic bet on property valuations pays off big time

Third quarter reported revenues totaled $524 million compared with $386 million in the same 2015 period. That year-over-year increase of 36% is driven primarily by its valuation solutions business, which started booming back in the second quarter. http://www.housingwire.com/articles/38359-corelogic-bet-on-property-valuations-pays-off-big-time ❤️ #share #mortgage

Fannie Mae announces sweeping program for #mortgage #lender "freedom" from penalties

Fannie Mae announced that #lenders using its Desktop Underwriter and Collateral Underwriter tools will be shielded from buyback risk from the GSE under certain conditions. Fannie Mae’s “Day 1 Certainty” program helps #lenders address risk up front in underwriting and property appraisal and inspection so that they can lend with confidence, Timothy Mayopoulos, president and CEO of Fannie Mae, said at the #mortgage Bankers Association conference today.  http://www.housingwire.com/articles/38356-fannie-mae-announce-sweeping-program-for-lender-freedom-from-penalties ❤️ #share #mortgage

Speakers at MBA Annual focus on 3 changes coming to housing

The #mortgage Bankers Association opened today’s activities with a talk to the industry, explaining some of the changes that are taking place. Some changes are coming soon, while others have already begun. Either way they are unavoidable, so follow Quicken Loans CEO Bill Emerson’s advice and get on the bus or get left behind. http://www.housingwire.com/blogs/1-rewired/post/38354-speakers-at-mba-annual-focus-on-3-changes-coming-to-housing ❤️ #share #mortgage

China Oceanwide buying Genworth Financial for $2.7 billion

Private #mortgage insurance is booming right now, and one of China’s largest companies wants in. China Oceanwide Holdings Group announced Monday that it plans to buy Genworth Financial, one of the U.S.’s largest #mortgage insurers, for $2.7 billion. Here’s more on the deal and why the companies feel it’s a win for both parties. http://www.housingwire.com/articles/38355-china-oceanwide-buying-genworth-financial-for-27-billion ❤️ #share #mortgage

MBA predicts double-digit growth for new #mortgage lending

The MBA just released its forecast for 2017 which shows that #mortgage purchase originations will continue to increase into next year. Refinances, however, will see a drastic decrease, and total originations could come in the coming years. Here’s the latest take from the conference underway in Boston. http://www.housingwire.com/articles/38353-mba-predicts-double-digit-growth-for-new-mortgage-lending ❤️ #share #mortgage

FHFA pivots to affordable housing, single-family rentals

At the #mortgage Banking Association’s annual conference today, FHFA Director Mel Watt recounted a number of accomplishments the agency accomplished in the wake of the financial crisis before signaling the agency’s focus for the next year: expanding affordable housing, including single-family rentals. http://www.housingwire.com/articles/38349-fhfa-pivots-to-affordable-housing-single-family-rentals ❤️ #share #mortgage

Ellie Mae launches Encompass lending platform and Connect suite of solutions

“#lenders see opportunities every day where they could build on top of solutions we provide,” said Joe Tyrrell, executive vice president at Ellie Mae. “By taking a platform approach we’ve unlocked the opportunity for them to use APIs to take advantage of those opportunities to build out solutions quickly.” http://www.housingwire.com/articles/38352-ellie-mae-launches-encompass-lending-platform-and-connect-suite-of-solutions ❤️ #share #mortgage

Altisource Portfolio Solutions rebrands as Trelix

Altisource Portfolio Solutions announced today it is leaving the Altisource name behind, and rebranding itself as Trelix. The name change is more than just a name change, according to the company president, who calls it the next step in the company’s evolution. The company will also make another announcement in 2017 introducing its new technology platform. http://www.housingwire.com/articles/38345-altisource-portfolio-solutions-rebrands-as-trelix ❤️ #share #mortgage

Sales of Distressed Properties Hit New Low

The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report revealing that distressed property sales accounted for 4% of sales in September. This is down from 7% in 2015, and is the lowest figure since NAR began tracking distressed sales in October 2008.

Below is a graph that shows just how far the market has come since January 2012 when distressed sales accounted for 35% of all sales.

Existing Home Sales Hit 2nd Highest Figure Since June 

#mortgage interest rates remained well below 4% in September at 3.46%, prompting existing home sales to stay at a healthy annual pace of 5.47 million. Month-over-month sales were up 3.2%.

Inventory of homes for sale remains below the 6-month supply that is necessary for a normal market, as it fell 2.2% to a 4.5-month supply. The shortage in inventory has contributed to the median home price rising an additional 5.6% to $234,200.

NAR’s Chief Economist, Lawrence Yun had this to say about the lack of inventory:

“Inventory has been extremely tight all year and is unlikely to improve now that the seasonal decline in listings is about to kick in.”

There is good news though, as Yun went on to say:

“There’s hope the leap in sales to first-time buyers can stick through the rest of the year and into next spring. The market fundamentals — primarily consistent job gains and affordable #mortgage rates — are there for the steady rise in first-timers needed to finally reverse the decline in the homeownership rate.”  

Bottom Line

If you are debating putting your home on the market this year, now may be the time. Buyers are still out there looking for their dream home. Let’s get together to determine your best plan. http://www.simplifyingthemarket.com/en/2016/10/24/sales-of-distressed-properties-hit-new-low/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Monday Morning Cup of Coffee: Everything you need to know at MBA Annual

Monday Morning Cup of Coffee this week gives a preview of our industry’s biggest conference: the #mortgage Banker’s Association annual gathering starting now in Boston. We’ll still report regular news as we get it and give you everything you need to stay up-to-date for the next few days.  http://www.housingwire.com/blogs/1-rewired/post/38351-monday-morning-cup-of-coffee-everything-you-need-to-know-at-mba-annual ❤️ #share #mortgage

How Auction.com optimizes your disposition strategy

Whether you are trying to minimize the credit losses associated with a foreclosure, or trying to maximize the return on a real estate portfolio investment, the decision always comes down to one thing: Optimizing the balance between the asset’s sales price with the avoidance of holding expenses. http://www.housingwire.com/articles/38348-how-auctioncom-optimizes-your-disposition-strategy ❤️ #share #mortgage

Ozzy & Sharon's 90210 Rental Hits the Market

What has a stately entrance, a glamorous swimming pool, and a ZIP code that can’t be beat? Ozzy and Sharon Osbourne’s rental in Beverly Hills 90210 for the past four years.

The reunited couple moved out recently, and it’s on the market for $26.895 million.

Designed by architect-to-the-stars Paul R. Williams in 1955, as the Los Angeles Times reported, the home spans nearly 5,400 square feet and boasts a marble entryway reminiscent of old Hollywood. It’s ideal for entertaining the children and friends, with a gourmet kitchen, a formal breakfast room and a formal dining room that seats 20. For more casual gatherings, there’s a wood-paneled family room with a fireplace and bar.

The home’s 4 bedrooms and 6 baths include a master suite with dressing rooms, a steam shower and a spa tub.

The home is situated on nearly an acre with a mosaic tile pool and a cabana that features a gym, bathroom and kitchen. The property also offers a guest house and staff quarters.

The listing agent is Lori Berris of Sotheby’s International Realty.

Related:

• Kylie Jenner Scoops Up $12M Mansion in Hidden Hills
• Emily Blunt and John Krasinski Buy in Park Slope
• Can You Handle Bethenny Frankel’s New Listing?

from Zillow Porchlight http://www.zillow.com/blog/ozzy-sharon-rental-hits-market-207141/