Skyrocketing prices over the past decade have put the starting line for luxury closer to $1.3 million, according to an analysis from Realtor.com. Read More
BY THE NUMBERS
CONTENT FROM: Loraloma Private Estates
Private Texas Cliffside Golf Opens This Fall
Loraloma Private Club & Estates is poised to become the pinnacle of luxury and recreation this fall, with the highly anticipated October opening of its golf course designed by the legendary David McLay Kidd. With just eight holes featuring real estate, these homesites are a rare opportunity to secure your legacy on this links-style course. Golf lots are now available, starting from $1,200,000.
Embrace the season with these fun, fright-inducing devices. Read More
News Bites
U.S. Pending Home Sales Rebounded in August
With lower mortgage rates enticing buyers, pending home sales noticeably increased in August, according to data from the National Association of Realtors. Based on signed contracts, pending sales of previously owned homes were up 4% from the month prior and 3.8% annually. The only U.S. region to see contracts decline was the Northeast. Reuters
John Goodman Sells New Orleans Home at a Nearly $1.5 Million Discount
Actor John Goodman has finally unloaded his longtime New Orleans home, selling it for $4 million. That is almost $1.5 million off his initial asking price of $5.45 million. Goodman listed the four-bedroom historic home in February, having owned it since 2005, when he and his wife paid $1.8 million for the property. Realtor.com
Average Two-Year Fixed-Rate Mortgage Finally Falls Below 5% in the U.K.
The U.K.’s average two-year mortgage rate is now at 4.99%, a three-year low and the first time it has fallen below 5% since Liz Truss’s so-called mini-budget in September 2022. However, it is unlikely that rates will see any further notable cuts this year. “There’s some optimism that rates might soften a little bit throughout the year, but it won’t be a dramatic drop,” said John Morris, mortgage adviser from Pure Property Finance. PropertyWire
Coastal Australian Property With Just an Odd Pool Listed for A$4 Million
A plot of land with just a swimming pool is on the market in Byron Bay, New South Wales, with a price guide of A$4.2 million to A$4.6 million (US$2.77 million to US$3.04 million). The property is nearly 8,000 square meters (nearly 2 acres), and despite its lack of dwelling, it’s expected to sell for triple Australia’s median house price. The seller knocked down the house that was previously on the land but kept the oddly shaped pool, expecting to build a new house. Domain
Around News Corp
Rise of ‘Accidental Landlords’ Is Bad News for Investors Who Bet Big on Rentals[The Wall Street Journal]
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