Beachfront Estate in Turks and Caicos

Point House rests on the northern beach of Parrot Cay boasting 5 bedrooms over 7,000 square feet of luxury living space. Bordering the pristine Nature Reserve, Rocky Point, Point House enjoys solace and serene privacy. Not far away are the COMO Parrot Cay award-winning resort amenities and facilities. Continue reading

What Does A Trump Presidency Mean For Real Estate?

Whether you’re horrified or elated over the results of this week’s election, one thing we can all agree on is that the new President will undoubtedly influence our nation’s economy and by extension the housing market.

The last time a real estate dealmaker held the office was in 1790s and early 1800s when George Washington and Thomas Jefferson lead the nation. They were proud property owners and as such made sure the US Constitution protected them.

But things have definitely changed over the past 200 years and so now we’re left wondering, what does a Trump presidency mean for the real estate market. Here are eight things to consider.

Will he, as others have, use real estate to jumpstart the economy?

Obviously, Trump has an extensive background as a real estate investor. He hasn’t said much about housing but what he has said would, in theory, boost homeownership. His platform centered on deregulating the financial market in the hope of reviving it. This alone could boost real estate activity.
So what about mortgage rates?

There are a huge number of factors affecting mortgage rates and they change daily based on market activity. For example, on election might we saw a bit of market panic due to the unexpected results. Similarly, after Brexit, markets dropped after an unexpected outcome.

“Mortgage rates are falling because investors are seeing safe yields in US mortgage backed security reflecting their confidence in the relative safety of the US housing market. Furthermore, the Fed is likely to delay a December rate hike because of global economic turmoil. Both effects mean short term win for borrowers and we’ll likely see an increase in mortgage refinancing if rates continue to plummet.”

-Ralph McLaughlin, chief economist at Trulia

What about loans?

One way to encourage consumers to purchase homes would be to lower premiums for FHA loans or cut guarantee fees for Fannie Mae or Freddie Mac. However, neither have been specifically mentioned and both present their own set of problems.

Will federal programs be downsized?

In the past, federal programs have been cut to trim the national budget. Some programs have more of an effect on real estate than others – i.e. affordable housing. Local and state policies are unlikely to be affected but federal programs like Low Income Housing Tax Credit and Section 8 housing could be facing change.

So what exactly are these regulations he wants to get rid of?

  • Banking regulations: In July, the Republican party approved its 2016 platform which includes major changes to the Consumer Financial Protection Bureau (CFPB) and the possible revocation of the Dodd-Frank Act – which imposes regulations on lenders. Loosening these regulations on lending could boost homeownership by making it easier to get a loan.
  • Building regulations:  In August, Trump addressed a meeting of the National Association of Home Builders saying, “There’s no industry, other than probably the energy industry, that is more overregulated than the housing industry…Twenty five percent of costs build a house are regulations. I think we should get that down to 2 percent.” If he follows through, that could mean more affordable homes for consumers.
  • Independent contractor regulations: If Trump goes through with his promise to get rid of some or all of Obamacare, which could mean lower operating costs for small businesses. It could also mean that agents are no longer required to get their own health y insurance as independent contractors.

What about mortgage interest deduction?

Last year, a tax plan that Trump shared promised that he would preserve the mortgage interest deduction. However, Trump’s current plan does not go into detail on the matter.

What about Fannie Mae or Freddie Mac?

Both are government-sponsored enterprises (GSEs) and their fate is likely to fall to Trump. The GSEs are projected to run out funds by 2018 so time is running out.

And of course, what is going to happen with immigration?

If Trump tightens immigration policies to the extent outlined in his platform, markets that rely heavily on overseas investors (like Boston) may face a decline. However, until any concrete plans are laid out there’s no way to tell whether it will influence the real estate market on a large scale.

That’s all we know for now. As his presidency unfolds and more policy comes into play, we’ll see the decisive outcome of President Trump on the nation’s real estate market.

Harry Potter’s Privet Drive Home Is Up For Sale

The home of Harry’s Uncle Vernon, Aunt Petunia and cousin Dudley in the famous Harry Potter films is up for sale! Located in Picket Post Close, Martins Heron (aka 4 Privet Drive) has been listed for $620,000.

In 2001, the home was hand picked to be the Dursley’s home in the first film, Harry Potter and the Philosopher’s Stone. It was by no means a good living situation for Harry, who was made to live in the cupboard under the stairs by his cruel aunt and uncle before escaping to Hogwarts.

For just over half a million you’ll get three bedrooms, a big family bathroom, a newly-laid drive and a landscaped back garden with a large patio. The famous cupboard under the stairs was converted into a luxurious apartment for the owner’s Chihuahua.

Check out the magical property below:

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The Most Expensive Real Estate Listings In The World

Le Palais Bulles

Price: $455 million
Location: Theoule Sur Mer, Provence-Aples_Cote D’Azzur, France
Bedrooms: 10
Square Feet: 12,916

Designed by architect Antti LOVAG, Pierre Cardin’s former abode includes a 500-seat auditorium and a lounge with panoramic views of the bay of Cannes. Think Luke Skywalker’s Tatooine home mixed with a Bond villain’s lair.

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Gemini

Price: $195 million
Location: Manalapan, Florida
Bedrooms: 33
Square Feet: 84,988

This listing includes 15.65 acres of land in a completely walled compound. It features 1,200 feet of beachfront near Palm Beach, stretching fro the ocean to the Intracoastal. Originally designed in the 1940s by Marion Sims Wyeth (a favorite of Palm Beach) this offering is enormous.

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Le Palais Royal

Price: $159 million
Location: Hillsboro Beach, Florida
Bedrooms: 17
Square Feet: 70,774

This beachfront estate boasts over four acres of beachfront, with the first IMAX home theater, a Go-Kart track, an ice skating rink and a $2 million grand staircase.

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Mon Reve

Price: $150 million
Location: Los Angeles, California
Bedrooms: 10
Square Feet: 38,000

Located on the prestigious Carolwood drive, this estate used to belong to Barbra Streisand. The home includes a Club Mon Reve – with lounge, wine room and theater complex- and parking for up to 50 cars.

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Briar Patch

Price: $140 million
Location: East Hampton, New York
Bedrooms: 10
Square Feet: 10,300

This Hamptons home boasts a quarter of a mile waterfront of Georgica Pond. The 1.2-acre property includes two residences, designed by architect Peter Marino. One is a restored Georgian revival and the other a modern guesthouse. The lot can be subdivided into two lots for additional buildings.

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Trousedale Estate Compound

Price: $135 million
Location: Los Angeles, California
Bedrooms: 7
Square Feet: 18,000

This 18,000 square foot villa features 360 degree views of Los Angeles from its position atop a hill. The dining room itself features 180-degree panoramas of the surrounding area.

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Rancho San Carlos

Price: $125 million
Location: Montecito, California
Bedrooms: 12
Square Feet: 29,483

Think 237 acres of hilltop gold. In addition to the enormous main house, the property also includes 10 cottages.

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Palazzate

Price: $125 million
Location: St. Peter’s Bay, Barbados
Bedrooms: 5
Square feet: Each of the four residences is 13,000 sf

Palazzate is a world in itself, with four oceanfront homes and a plethora of amenities – from a spa to staff quarters.

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834 Fifth Avenue Duplex

Location: New York, New York
Price: $120 million
Square Feet: 12,000

This is the largest existing original apartment on Fifth Avenue. The enormous 20-room residence belonged to John Gutfreund (aka “the King of Wall Street”).

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The Park Bel Air

Price: $115 million
Location: Los Angeles, California

This offering is divisible – there are three homes sits set on 11 acres. Buyers can opt to pay $45 million for one site or Domvs, the developer, will build you a 56,000-61,000 square foot house for $115 million.

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Las Varas Ranch

Price: $108 million
Location: Goleta, California
Square Feet: 1,800 acres

This listing is in a well-preserved part of Santa Barbara and includes two miles of oceanfront, and an 18-acre lake. It’s being offered as a developable spot for a family compound, vineyard or horse farm.

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Theoule-sur-Mer

Price: $105 million
Location: Cote d’Azur, France
Bedrooms: 8
Square Feet: 15,069

This castles-like property overlooks the Mediterranean, boasting breathtaking views from every angle. It was built in 1900 and includes a triangular infinity pool.

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Sycamore Ranch

Price: $100 million
Location: Los Olivos, California
Bedrooms: 6
Square Feet: 12,598

Formerly known as Neverland when it was owned by Michael Jackson, this property includes a four-acre lake and a 5,500 square foot movie theaters on 2,698 acres northeast of LA.

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King’s Point Estate

Price: $100 million
Location: Great Neck, New York
Bedrooms: 13
Square Feet: 60,000

This eight acre, gated waterfront compound features incredible views and easy access to NYC. The home includes a bowling alley and casino.

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Timeless Mansion for $10.7M in California

6883 Alydar Corte

Rancho Santa Fe, CA, United States

Bedrooms: 6
Bathrooms: 8 Full 2 Partial
Living Area: 12,500 square feet
Lot Size: 2.7 acres
Price: $10,700,000

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About

Timeless, romantic, and neo-classical design that features the best of artistry, architectural and quality detail, this Rancho Santa Fe mansion represents perfect beauty. Perched high in the private gated community of Del Rayo Estates, this luxurious estate beholds one of the most magnificent, breath-taking views from any home in Rancho Santa Fe.

Custom entry gates highlight the exceptional grounds with panoramic views, custom laid driveway and walkways, sunken tennis court with viewing amphitheater, and a magnificent pool and spa. The stone hardscaping is lushly accented with specimen palms and tropical vegetation including flowering jacarandas, king palms, and impressive canary island palms. Be swept away by the romance of Europe and sense of palatial grandeur upon entering the dramatic foyer with graceful carved ceilings, extensive gilding and custom draperies.

The truly amazing gourmet kitchen has multiples of everything (three dishwashers, three Subzero refrigerator/freezers, two cooktops, and three ovens) all housed in custom cabinetry plus slab granite counters and a butler s pantry. Deluxe bath fixtures and door hardware, Austrian crystal chandeliers and sconces, and a grotto style temperature controlled wine cellar all lend themselves to an unsurpassed lifestyle. The home theatre is fully computerized with fiber optic ceiling, velvet wall coverings and velvet reclining seats for comfortable viewing of your favorite film. The decadent and sumptuous master suite must be seen to be believed. High tech security system with closed circuit cameras and ground sensors to monitor the full perimeter of the property and an eight-car garage to accommodate your automotive collection are just some of the other fabulous features of this incredible estate.

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