Monthly Archives: February 2014

Director Oliver Stone lists West Village home for $2.9M | Bedford Hills Homes


Apartment at 1 Morton Square

Apartment at 1 Morton Square

Oscar-winning filmmaker Oliver Stone has put his West Village pad on the market for $2.9 million.

Paul Anand of the Corcoran Group has the listing for the two-bedroom condominium at 1 Morton Square, according to the Wall Street Journal. Stone bought the 1,750-square-foot space in 2010 for $2.2 million to live in while directing “Wall Street: Money Never Sleeps.”

The 14-story mixed-use doorman building, built by J.D. Carlisle Development in 2004, gives residents access to a children’s playroom, a gym and a garage, according to property records.

Stone is reportedly looking to move into a space bigger than 2,000 square feet. Given the neighborhood’s low inventory, Anand expects to receive offers by early next week, the Journal reported.

Plaza Hotel owner surrenders to Indian police | Pound Ridge Homes


From left: Subrata Roy and 1 Central Park South

From left: Subrata Roy and 1 Central Park South

Subrata Roy, owner of the Plaza Hotel, turned himself into police Friday following his no-show at a contempt hearing in Indian Supreme Court.

The subject of an investigation into whether Roy failed to repay investors $3.9 billion following an illegal bond scheme, Roy previously said that he wouldn’t be able to appear for his court date because he had to care for his ailing 92-year-old mother. Nevertheless, the court ordered him to show, and police were dispatched to track him down when he did not.

Owner of $11 billion company Sahara, which owns the Plaza, Roy was barred from selling any of the firm’s assets or leaving India in November as the nation’s highest court investigated the conglomerate’s alleged violation of securities laws. Earlier reports indicated that Sahara was looking to sell its Plaza and Dream Downtown hotels, as well as the Grosvenor House in London. The group received a $1.6 billion offer for the trio of hotels from an unidentified Middle Eastern investor, according to previous reports.

Luxury Bunker on Hawaii’s Big Island Hopes For $26.5M | Chappaqua Homes


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Location: Ninole, Hawaii Price: $26,500,000 The Skinny: Picture a tropical paradise, where a beautiful stream busily works its way down the flank of a huge volcanic cone, snaking through a lush stand of trees before tumbling down a cliff into the ocean far below. Now picture a four-story reinforced concrete bunker, complete with helicopter pad, waterslide, and Olympic-size pool, plopped down at the edge of that cliff, and there you have Water Falling, an crazily baroque compound that reads like a cartoonish mixture of Syndrome’s lair and the dino DNA lab in Jurassic Park. Just how baroque is Water Falling? While some luxury homes may be content with merely boasting a helipad and a waterfall, this 8,100-square-foot manse on Hawaii’s Big Island dials the ostentation up to 11 with a glass elevator, a golf course, an elevated basketball stadium, and a high-dive platform. Water Falling is asking $26.5M, but bargain hunters (and Bond villains) should be aware that the manse faces the auctioneer’s gavel on March 22 in a no-reserve, highest-bidder-wins auction.

Instagram for real estate | North Salem NY Real Estate


Did you hear that Instagram is the fastest-growing social media platform globally, increasing its users by 23 percent in the last six months? What about the fact that Instagram is proactively trying to work with businesses now and has started an Instagram Handbook for Brands? Do you know that many of your kids didn’t stop actively using social media? All they did was move from Facebook to Instagram. If none of those questions piqued your interest, there’s no need to continue reading, but if you haven’t adopted a strategy to implement this social network into your business yet, here are five reasons you should. (Please note: These items are intended for the advanced beginner and may not be suitable for someone who does not already have an Instagram profile.)

1. People want to see “behind the scenes”: Real estate is interesting to most people — just look at how many reality television shows are based on our industry. Share your experiences preparing one of your listings before it goes live. Capture the lifestyle of a local community that you’re privileged to be entrenched in. Show how happy your clients are when they find “the one” or when they’re leaving the closing table. As hectic as our jobs can be, they are NOT mundane, and there is beauty in most of the activities and places that are encountered throughout your day.

2. Facebook’s algorithm: It’s proprietary and it seems like Facebook changes it every day, so I can’t prove this point, but Instagram is Facebook’s baby, as evidenced by the $1 billion acquisition of the photo-sharing network in April 2012. Through the Instagram app, you have the option of also sharing your photo to Facebook (on your profile OR business page).



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Lawsuit claims real estate agents used dating sites to land clients | Cross River Real Estate


A lawsuit against 14 Japanese real estate agencies and loan companies claims that real estate agents used dating sites to woo at least a dozen singles — most of them women — when their true intention was to talk them into buying a condo. One victim bought three, the lawsuit alleges


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With NAR’s blessing, is on the hunt for its first chief economist | Waccabuc NY Homes, the official consumer website of the National Association of Realtors, is on the hunt for what will be the first chief economist in its 18-year history.

NAR had previously barred Move Inc., which operates under an exclusive license with NAR that dates back to 1996, from hiring a chief economist to interpret housing market trends.

The trade group employs a stable of analysts, including NAR Chief Economist Lawrence Yun, who help Realtors interpret housing trends for their clients.

“As the real estate industry and our relationship with continue to evolve, both organizations agreed that two voices are stronger than one,” NAR spokeswoman Sara Wiskerchen told Inman News.

The hire will give the portal a seat at the real estate media table now occupied by Zillow and Trulia, who have had chief economists since 2009 and 2011, respectively.

Zillow Chief Economist Stan Humphries and Trulia’s Jed Kolko have become high-profile sources in media stories and housing forums, which gives their firms added exposure and credibility with consumers.

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While S.F. prices rise, housing becoming less affordable all over the nation | South Salem NY Homes


San Francisco is not alone in demanding housing prices that present economic challenges—if not outright hardship—to its residents.

According to The Demand Institute, home prices will rise an average of 2.1% annually each year from 2015 to 2018, which indicates a healthy increase: real estate will no longer be tanking in the USA, and that increase would (in an ideal economy) line up decently with increased income. But like all averages, that figure obscures major differences between one area and the next.

The Demand Institute began studying developments in the U.S. housing market three years ago. Its latest report shows analysis of “2,200 cities, towns, and villages that are home to half the population of the U.S.” The Institute posits that “The home is often a family’s single most valuable and visible economic asset, and housing in a community is a reliable gauge of its prosperity.”

Yet prosperity is a relative term because wealth is concentrated unevenly in American towns and cities.

China Home Prices Continue Slowdown | Katonah Real Estate


China’s housing market continued to show a modest slowdown in February as new data show that price growth was capped by discounts in some cities while the Lunar New Year holiday had an impact on sales overall.

Average new-home prices issued by data provider China Real Estate Index System on Friday showed prices grew 10.79% in February from a year earlier, compared with January’s 11.1%, which also slowed from December’s 11.5%.

The survey tracks new-home sales in 100 Chinese cities. The average price in February rose 0.54% compared with January, the survey said. That is down from 0.63% in January over December, which was the slowest on-month gain in more than a year.

More customers are staying on the sidelines since some property developers started to introduce price cuts from mid-February, sales agents said. In Hangzhou in east China, at least two property developers introduced discounts on their new homes last week.

While January and February are typically slower periods for home sales, some observers have warned that housing prices in China may cool in 2014 because many developers are concerned about clearing inventory in places where there is an oversupply of homes, especially in tier two and tier three cities.