Wednesday, April 14, 2021
Flood risks are up, and consumers likely to pay-State has 7th highest projected increase in properties that will need to add insurance
plan ahead if you're close to a flood zone, per Denver Post
Colorado and other mountain states don’t just face a much higher risk of wildfires in the years ahead, but also of flooding, which could hit more homeowners directly in the pocketbook.
Of the 10 U.S. states likely to see the biggest percentage increases in the number of properties needing flood insurance, five are in the Rocky Mountain region, including Colorado, according to a study on changes in flooding risk from Seattle- based QuoteWizard.
“You have this combination of increased flooding around rivers, streams and flood plains and you have an increase in drought, which makes the ground more floodprone,” said Nick VinZant, senior research analyst at QuoteWizard.
FEMA currently designates 43,332 properties in Colorado at an elevated risk of flooding, meaning they need separate insurance policies to cover that risk. But a separate study from the First Street Foundation estimates given changes in the climate, Colorado should have about 131,245 properties listed at elevated flood risk and insured.
That 203% increase in properties at flood risk is the seventh highest among U.S. states, according to the QuoteWizard analysis. The four biggest increases go to Colorado’s neighbors in the mountain region: Utah, up 419%; Wyoming, up 325%; Montana, up 311%; and Idaho, up 290%.
QuoteWizard also broke out the additional properties that will need flood insurance in four Front Range counties. Denver could see a 249% increase to 5,061 at-risk properties under FEMA guidelines. Arapahoe County could see a 239% increase of properties at risk to 4,306. Boulder County, which was hard hit by the 2013 floods, is expected to see a 92% increase to 7,436 properties at risk. Broomfield could see a tripling in FEMA properties at-risk, going from 122 to 366.
The concern for consumers isn’t only about more properties falling within flood zones but a change in the way that FEMA determines premiums for flood insurance, VinZant said.
Rather than basing premiums on the replacement value of a property, FEMA wants to take a more risk-adjusted approach. Beachfront and lakeshores homes, for example, face some of the highest risks of flooding. Those premium locations also tend to host more expensive homes.
“Big properties will be paying a lot more, while smaller properties could be paying less,” VinZant said. Some homeowners are looking at flood insurance premium increases of five to seven times current levels, which has generated strong political opposition.
FEMA was set to implement the
new rate policy this month, until Senate Majority leader Chuck Schumer, D-NY, moved in March to slow down the changes.
In Colorado, the average cost for obtaining flood insurance runs $856 a year, which ranks 22nd highest in the nation, according to QuoteWizard.
Climate change is driving the increase in risk. Areas expected to flood once every 100 years are now flooding every five to 10 years, which has upended the entire flood insurance system, VinZant said.
“It doesn’t matter if you believe in climate change or not, your insurance provider does believe,”
he said.
Landlord licenses may be required-Proposal would mean long-term permits for about 54K properties
things on the horizon for Denver Rental Property Owners from the Denver Post
By one estimate, Denver has about 54,000 homes, condos, row houses and apartment complexes that are rented out. A new proposal before the City Council would require landlords to pay for long-term licenses for each property.
The measure from City Council President Stacie Gilmore would take years and hundreds of thousands of dollars to launch. But she argues it’s necessary to protect tenants, ensure landlords meet basic standards and collect basic contact information from landlords.
“For the first time in the city’s history we’ll be able to track our housing stock and understand how much we have,” Gilmore said.
She hopes the bill — to be heard by the council’s business committee Wednesday morning — will help the city better understand its housing stock and to target where and how to add more affordable housing. But housing advocates worry Denver’s rents will only rise with the possibility that landlords will pass the costs along to tenants, and landlords are concerned about costs and making their information publicly available.
The proposal would be the largest expansion of required licensing in the city’s history, according to Eric Escudero, spokesman for the city’s Department of Excise and Licensing. For
context, security guards have the highest volume of licenses in Denver with just under 6,000 active ones, he said.
How it would work
Denver already requires people who want to let others stay in their properties temporarily through things such as Airbnb or VRBO to obtain short-term rental licenses. The city’s Department of Excise and Licenses has had so much trouble getting companies to comply, though, that there’s a $1,000 fine for each illegal short-term rental transaction.
For long-term units, applications in Denver would cost $50 and the cost of licenses would range from $50 for single-unit properties to $500 for multi-family properties with more than 250 units, Gilmore said. Landlords would have to hold licenses for each rental parcel, not per unit, according to Magen Elenz, Gilmore’s chief of staff.
Rental houses will need to be inspected, but only 10% of an apartment complex’s units would have to be inspected at random, Gilmore added.
Her proposal is modeled after a similar program in Boulder, which started in the 1970s.
As of January, Boulder had about 9,500 active long-term rental licenses covering about 20,500 individual units, a spokesman for Boulder’s tax and special projects manager Joel Wagner said. The city’s website indicates a $190 application fee per license, which must be renewed every four years and units must be inspected upon the first application and for each renewal.
Long-term licenses in Denver would also have to be renewed every four years and would require inspections, Gilmore said. Landlords would have to hire private inspectors to cut down on the city’s workload.
The licenses would help keep problematic landlords in check and give tenants the ability to seek help from the city, Gilmore said. Officials could fine landlords that don’t meet housing standards and suspend or revoke licenses — though tenants would be able to stay through the end of their lease.
Plus, she said, creating a database of landlords and their properties would help the city track its housing stock and communicate with property owners and tenants about rental and utility assistance, Gilmore said.
The concerns
First, there’s the cost: more than $430,000 to phase in the new licensing program by the end of 2024, Gilmore said, on top of an unknown amount in the years following.
The proposal also creates several concerns for landlords, according to Colorado Landlords Association President William Bronchick.
While landlords wouldn’t necessarily oppose the licenses, he said in an email, many prefer to remain anonymous so tenants can’t communicate with them directly.
“A registration that requires this information to be public would defeat that.” Bronchick said. “For example, I once had a tenant dig up my information and post nasty things on my Facebook page!”
He also questioned whether safety violations found during inspections would count against landlords even if they were caused by tenants, and noted that licensing fees “could get expensive.”
The Globeville, Elyria-Swansea Coalition Director Nola Miguel is worried that landlords will pass on the costs of licensing and required improvements or repairs to tenants. Her organization tries to protect marginalized neighborhoods and affordable housing.
“A lot of the most vulnerable renters are the ones living in the worst conditions,” Miguel said.
But at the same time, she said, the licenses do have an upside in creating a way for the city to ensure better living standards for tenants.
If the proposal passes Wednesday, it’ll move to the full council. With its blessing, landlords could apply for early licenses next year, Gilmore said, but would not be required to obtain licenses until Jan. 1, 2023.
Inventory way down, costs up
pretty accurate article from Denver Post on current state of Front Range Market...
Buyers in metro Denver can almost always count on having a wider selection of homes available as the weather warms up, but not this year. The inventory of homes and condos available for sale in the region continued to shrink last month, despite rising mortgage rates, according to a monthly update from the Denver Metro Association of Realtors.
In a metro area with more than 3.2 million people, only 1,921 homes and condos were available for sale at the end of March, down 5.1% from February and 66.7% from a year earlier. Last month’s inventory decline last month was the largest on record for a March, and the first February to March decline the area has seen since 2014.
It came despite a 26.7% jump in new listings compared to February. Sellers showed up, only to be overwhelmed by demand. A word to frustrated buyers who held out for the spring surge in inventory: It isn’t happening. Instead, home prices are surging, further adding to the sense of desperation some buyers feel.
“Theoretically, this month’s report shows that if a buyer waited just one month to buy a $500,000 property from the end of February to the end of March, they would have had to pay $35,000 more for that property,” said Andrew Abrams, chairman of the DMAR Market Trends Committee and a Denver Realtor in comments accompanying the report.
The median closing price of a single-family sold rose 5.7% from February to $560,000 and it is up 15.5% over the past year. The average closing price reached $674,990, a 6.7% increase from February and a 19.3% gain from March of last year. Both of those figures are all-time highs.
Median price gains were more modest for condos and townhomes, up 4.6% month-overmonth and 6.35% year-over-year to $353,000. The average closing price rose 4.4% and 8.2% respectively to $416,775. The number of residential closings shot up 24% between February and March and is up 1.2% over the past year. Half of the singlefamily home listings last month went under contract within four days, and received 104.1% of the listing price — two other markers of how hot the housing market remains.
Rising interest rates, which can reduce affordability and limit demand, could start to weigh more on markets depending on how quickly they continue to move up. Rates on a 30-year mortgage started the year at around 2.65% and are now running closer to 3.2%, according to FreddieMac.
“If interest rates continue to rise, we may see a decrease in buyers in the market place leading to a more normalized market. The million-dollar question is when?” Abrams asked.
Tuesday, July 28, 2020
Real Estate Market In Metro Denver Seeing ‘Increased Demand, Few Choices’
This article from CPR is allot of what I'm seeing, of course, remember it varies by neighborhoods, property type, house vs condo, etc...feel free to email for more specifics on what is going on in your neighborhood...properties sell due to condition, location, and pricing.
Homes sales in metro Denver rose in June amid scant inventory.
The number of closed transactions surged 57.3 percent compared to May, according to the Denver Metro Association of Realtors. That still marks a decline of nearly 7 percent compared to the same time last year. The average home price of $509,736 reflects a 3 percent increase from last month, and 2 percent relative to 2019, the report found.
Stay-at-home orders that kept potential buyers in their homes froze Colorado’s real estate market in March. Buyers are flooding the market now that in-person showings have resumed, according to Jill Schafer, chair of the association’s trends committee.
“We are seeing increased demand, few choices, record-low mortgage rates and rising prices,” Schafer said in the report.
The rules for open houses are looser but could still pose logistical challenges, according to Schafer. The state issued new guidelines that require a social distancing calculator and a ventilation system approved by the Occupational Safety and Health Administration, Schafer said.
The number of listings is plummeting, which puts pressure on buyers to act even during the economic uncertainty created by the COVID-19 pandemic and concern that businesses will have to shut back down. Active listings were down about 33 percent last month compared to the same time last year. They fell 11 percent from May, the report found. The average number of days on the market is unchanged at 24, the data show.
The luxury segment — defined as homes priced at $1 million and above — is lagging the overall market. Closed transactions in that price range fell 15 percent from the same time last year, according to the report.
Homes sales in metro Denver rose in June amid scant inventory.
The number of closed transactions surged 57.3 percent compared to May, according to the Denver Metro Association of Realtors. That still marks a decline of nearly 7 percent compared to the same time last year. The average home price of $509,736 reflects a 3 percent increase from last month, and 2 percent relative to 2019, the report found.
Stay-at-home orders that kept potential buyers in their homes froze Colorado’s real estate market in March. Buyers are flooding the market now that in-person showings have resumed, according to Jill Schafer, chair of the association’s trends committee.
“We are seeing increased demand, few choices, record-low mortgage rates and rising prices,” Schafer said in the report.
The rules for open houses are looser but could still pose logistical challenges, according to Schafer. The state issued new guidelines that require a social distancing calculator and a ventilation system approved by the Occupational Safety and Health Administration, Schafer said.
The number of listings is plummeting, which puts pressure on buyers to act even during the economic uncertainty created by the COVID-19 pandemic and concern that businesses will have to shut back down. Active listings were down about 33 percent last month compared to the same time last year. They fell 11 percent from May, the report found. The average number of days on the market is unchanged at 24, the data show.
The luxury segment — defined as homes priced at $1 million and above — is lagging the overall market. Closed transactions in that price range fell 15 percent from the same time last year, according to the report.
Wealthy buyers snap up ‘safe haven’ private islands as they flee pandemic
fun article from carelyst.com
With its pristine beaches, coral reefs and 32 acres of lush tropical gardens, Fiji’s Mai Island could be the perfect place to hunker down and see out the coronavirus pandemic. And for a few million dollars it could be yours.
The island, which has previously been on the market for just over $4m, is one of a host of offshore retreats being marketed to the super-rich as ideal spots to escape the ravages of Covid-19.
The South Pacific, Caribbean and remote parts of the US and Europe are among the most popular destinations, according to real estate agents who are rushing to tap the surge in demand for private hideaways even as the world economy goes into a deep recession.
Trayor Lesnock, founder of Platinum Luxury Auctions, which is conducting the online sale of Mai Island on Saturday, said the pandemic had led people to reassess their lives and pursue the things they had fantasised about but always held off from doing.
“Owning an island has long been considered cool and desirable but it’s often been a whimsical dream,” he said. “But with Covid-19 it’s starting to look a lot more practical, as people rush to find private spaces for themselves and keep a distance from others.”
It is not just tropical paradises with fabulous weather that are tempting the wealthy. A mystery buyer last week snapped up Horse Island, a 157-acre private hideaway off the south-west coast of Ireland that had a €5.5m asking price. As well as an extensive main residence, Horse Island has six guest houses, a tennis court, helicopter pad and enough space for anyone who wishes to socially distance during a pandemic.
“There’s obviously a thought process in people’s minds — particularly those that can afford these multimillion-euro properties — that they can just get away and self-isolate,” said Callum Bain, a surveyor at Colliers International, the real estate agent that helped sell the island.
He said he did not know the buyer’s motivation but pointed out that Horse Island was previously an agricultural holding — meaning the new owner would be able to grow enough food to be self-sufficient if they wanted to. Its location close to an airport in nearby Cork city was also an attraction for anyone with access to a private jet, he added.
You don’t need to be a billionaire to buy an island. If you’re able to buy a very good car you can buy an island
But Covid-19 has thrown up complex travel challenges for would-be buyers tempted to relocate offshore, even for those with their own transport. Some nations, including Japan, New Zealand and Australia, have closed their borders to non-residents, making physical viewings of potential island purchases impossible in some cases.
The new owner of Horse Island reportedly bought it without visiting in person, while potential foreign-based bidders for Mai Island will not be allowed to set foot there before putting in an offer.
“We’ve sold some less expensive islands in Scandinavia and Canada recently to buyers who looked at photos and bought the properties,” said Farhad Vladi, a German businessman who said he had sold more than 3,000 islands in a career spanning 50 years. “But people generally want to visit more expensive islands before they buy.”
He agreed the pandemic had led to a spike in interest among high-net worth individuals looking to acquire their own island, but noted how the ultra-rich often preferred to rent their offshore hideaways due to security concerns, particularly if they were well-known.
He also insisted that owning your own private island was not as far-fetched as many people would have thought. “You don’t need to be a billionaire to buy an island. If you’re able to buy a very good car you can buy an island,” he said.
For example, a small island off the coast of Finland was currently for sale via Vladi Private Islands for less than €100,000. At the other end of the scale, a 1,100-acre Greek island retreat in the Ionian Sea would set you back €45m.
Agents said private islands in countries that had avoided the worst of the pandemic were proving popular with would-be buyers, with Australia, New Zealand and the South Pacific islands remaining relatively virus free.
Pumpkin Island, an eco-retreat in Australia’s Great Barrier Reef Marine Park that was put on the market with a price tag of A$25m, was described by its current owners as a “safe haven” from the pandemic.
“We’ve weathered the [coronavirus] storm well and people are looking for places where they will have space and where they don’t feel like they’re on top of someone else . . . I definitely think that’s an attraction,” said Laureth Rumble, whose family owns Pumpkin Island.
Whether the price tag can be met remains to be seen given that non-residents are currently not allowed to enter Australia. But opportunities to own such a home do not come around very often: the Rumbles bought Pumpkin Island 17 years ago for A$1.3m from the previous owner who had won it in a poker game in 1961.
“We’ll be very sad to leave,” Ms Rumble said. “It’s just stunning.”
With its pristine beaches, coral reefs and 32 acres of lush tropical gardens, Fiji’s Mai Island could be the perfect place to hunker down and see out the coronavirus pandemic. And for a few million dollars it could be yours.
The island, which has previously been on the market for just over $4m, is one of a host of offshore retreats being marketed to the super-rich as ideal spots to escape the ravages of Covid-19.
The South Pacific, Caribbean and remote parts of the US and Europe are among the most popular destinations, according to real estate agents who are rushing to tap the surge in demand for private hideaways even as the world economy goes into a deep recession.
Trayor Lesnock, founder of Platinum Luxury Auctions, which is conducting the online sale of Mai Island on Saturday, said the pandemic had led people to reassess their lives and pursue the things they had fantasised about but always held off from doing.
“Owning an island has long been considered cool and desirable but it’s often been a whimsical dream,” he said. “But with Covid-19 it’s starting to look a lot more practical, as people rush to find private spaces for themselves and keep a distance from others.”
It is not just tropical paradises with fabulous weather that are tempting the wealthy. A mystery buyer last week snapped up Horse Island, a 157-acre private hideaway off the south-west coast of Ireland that had a €5.5m asking price. As well as an extensive main residence, Horse Island has six guest houses, a tennis court, helicopter pad and enough space for anyone who wishes to socially distance during a pandemic.
“There’s obviously a thought process in people’s minds — particularly those that can afford these multimillion-euro properties — that they can just get away and self-isolate,” said Callum Bain, a surveyor at Colliers International, the real estate agent that helped sell the island.
He said he did not know the buyer’s motivation but pointed out that Horse Island was previously an agricultural holding — meaning the new owner would be able to grow enough food to be self-sufficient if they wanted to. Its location close to an airport in nearby Cork city was also an attraction for anyone with access to a private jet, he added.
You don’t need to be a billionaire to buy an island. If you’re able to buy a very good car you can buy an island
But Covid-19 has thrown up complex travel challenges for would-be buyers tempted to relocate offshore, even for those with their own transport. Some nations, including Japan, New Zealand and Australia, have closed their borders to non-residents, making physical viewings of potential island purchases impossible in some cases.
The new owner of Horse Island reportedly bought it without visiting in person, while potential foreign-based bidders for Mai Island will not be allowed to set foot there before putting in an offer.
“We’ve sold some less expensive islands in Scandinavia and Canada recently to buyers who looked at photos and bought the properties,” said Farhad Vladi, a German businessman who said he had sold more than 3,000 islands in a career spanning 50 years. “But people generally want to visit more expensive islands before they buy.”
He agreed the pandemic had led to a spike in interest among high-net worth individuals looking to acquire their own island, but noted how the ultra-rich often preferred to rent their offshore hideaways due to security concerns, particularly if they were well-known.
He also insisted that owning your own private island was not as far-fetched as many people would have thought. “You don’t need to be a billionaire to buy an island. If you’re able to buy a very good car you can buy an island,” he said.
For example, a small island off the coast of Finland was currently for sale via Vladi Private Islands for less than €100,000. At the other end of the scale, a 1,100-acre Greek island retreat in the Ionian Sea would set you back €45m.
Agents said private islands in countries that had avoided the worst of the pandemic were proving popular with would-be buyers, with Australia, New Zealand and the South Pacific islands remaining relatively virus free.
Pumpkin Island, an eco-retreat in Australia’s Great Barrier Reef Marine Park that was put on the market with a price tag of A$25m, was described by its current owners as a “safe haven” from the pandemic.
“We’ve weathered the [coronavirus] storm well and people are looking for places where they will have space and where they don’t feel like they’re on top of someone else . . . I definitely think that’s an attraction,” said Laureth Rumble, whose family owns Pumpkin Island.
Whether the price tag can be met remains to be seen given that non-residents are currently not allowed to enter Australia. But opportunities to own such a home do not come around very often: the Rumbles bought Pumpkin Island 17 years ago for A$1.3m from the previous owner who had won it in a poker game in 1961.
“We’ll be very sad to leave,” Ms Rumble said. “It’s just stunning.”
An Eye-Opening Tour of 'The Golden Girls' House—Now for Sale for the First Time
a fun unique house of the month, Golden Girls house for sale...from realtor.com
"The Golden Girls" house is for sale for the first time ever—and for a famous property, some might say this 2,901-square-foot, four-bedroom house in Los Angeles is a bargain, listed for a mere $2,999,000.
With lush landscaping full of exotic plants, the property—located in the Brentwood neighborhood—was used only for the exterior shots on the show, which ran from 1985 to 1992 and starred Rue McClanahan as Blanche, a widow who opened up her home to three roommates played by Betty White (Rose), Bea Arthur (Dorothy), and Estelle Getty (Sophia).
Yet most of these spunky senior citizens' antics—which occurred inside the house, around the kitchen table, or in the living room—were filmed on a Hollywood set.
As such, while this house has attracted a few fans to snap pictures curbside, the home's interior has long remained a mystery—which is all the more reason why this home is bound to receive tons of attention now.
The reality behind 'The Golden Girls' house
In real life, this house served as the longtime residence of David Noble Barry III and Margaret Carr Barry, a married couple who had the house built in 1955. The Barrys lived in the house for more than 60 years until their deaths in 2017 and 2019, respectively. The property is being sold by a trust.
James Barry, the late couple's son, reported that location scouts first noticed the property because of its verdant landscaping, thinking it had just the right aesthetic to represent the four friends' fictional home in Miami at 6151 Richmond St. (FYI, no such address actually exists.)
So the NBC network paid the Barrys a small sum of money to film exterior shots at the home. They agreed, in part because they wanted to show off their home's unique architecture.
In fact, the home was primarily used as a filming location for only the first season of the show. For later seasons, the Barrys loaned NBC the home's original blueprints so the network could build a replica at Disney's Hollywood Studios, where fans could tour the house until it was torn down in 2003.
So what's the original "Golden Girls" house really like?
An inside tour of 'The Golden Girls' home today
The Barrys modeled their Brentwood property after the Honolulu home of David Noble Barry III's father. Japanese and Hawaiian influences abound throughout the property, which features original oak floors, high ceilings, floor-to-ceiling windows, sliding Shoji screens, built-in cabinets, and an engawa, a traditional Japanese wood flooring surrounding the home.
Who will buy 'The Golden Girls' house—and how much will it cost?
So, who will be the lucky new owner of this iconic TV home? Many real estate experts say it's priced aggressively to sell and the buyer will likely be a toss-up between TV or movie producers who may want to use the location, or private buyers who may be fans of the show.
"The list price is strategic and meant to attract a lot of attention and interest," says Rachelle Rosten, the home's listing agent with Douglas Elliman. "The beauty of this pricing strategy is the market ultimately determines the value. I anticipate this property will sell over the list price. It’s an exciting and emotional house as well as being a nice-sized lot on a desirable street. The market will respond accordingly. It will be very interesting to see who ends up buying this property."
One potential buyer? HGTV, which in 2018 outbid Lance Bass to purchase the home used for exterior shots for "The Brady Bunch." The network renovated the house back to its 1970s glory on the hit show "A Very Brady Renovation."
"'The Golden Girls' home reminds me of 'The Brady Bunch' home sale scenario all over again," says Cara Ameer, a real estate agent with Coldwell Banker in California and Florida. "A television network could be an ideal buyer for the property, such as HGTV or even NBC, which originally aired the series. Perhaps Amazon, Netflix, or a studio like Paramount will want it for future projects—a 'Golden Girls' remake or a similar show with a new twist or even a movie."
As for dollars and cents, Ameer says it's hard to put a specific price tag on a home with celebrity status.
"I would venture that this is going to be subject to multiple offers and may go well above asking price—as much as by $1 million or a bit more," she says.
But not all celebrity-status homes sell quickly. Just look at the famous "Full House" home in San Francisco, which was last sold for $4 million in 2016 and has been listed twice since then with no success. One possible reason could be all the "Full House" tourists crowding the front, which might become a nuisance at "The Golden Girls" house as well, especially if it becomes the subject of a pop culture revival.
"A buyer of this house will need to contend with tourists and fans constantly taking photos and the privacy concerns that come along with that," says Shane Ray, a real estate agent in San Francisco with Domicile Properties/Compass.
Some real estate agents think that the headaches of owning a famous home make them a poor investment.
Cedric Stewart, a real estate agent with Keller Williams Capital Properties in Washington, DC, thinks "The Golden Girls" house will sell for under asking, at around $1.95 million.
"Is there a chance someone would buy it for sentimental purposes or use it as an attraction of sorts? Sure," Stewart says. "But the generation that would most appreciate that is on their way out, so this is not a place you buy to make money."
Only time will tell what will happen to this house, but in the meantime, it's fun to get a chance to see a piece of TV history.
Even though the Golden Girls house has a different interior from the show, here are some interior pics...
"The Golden Girls" house is for sale for the first time ever—and for a famous property, some might say this 2,901-square-foot, four-bedroom house in Los Angeles is a bargain, listed for a mere $2,999,000.
With lush landscaping full of exotic plants, the property—located in the Brentwood neighborhood—was used only for the exterior shots on the show, which ran from 1985 to 1992 and starred Rue McClanahan as Blanche, a widow who opened up her home to three roommates played by Betty White (Rose), Bea Arthur (Dorothy), and Estelle Getty (Sophia).
Yet most of these spunky senior citizens' antics—which occurred inside the house, around the kitchen table, or in the living room—were filmed on a Hollywood set.
As such, while this house has attracted a few fans to snap pictures curbside, the home's interior has long remained a mystery—which is all the more reason why this home is bound to receive tons of attention now.
The reality behind 'The Golden Girls' house
In real life, this house served as the longtime residence of David Noble Barry III and Margaret Carr Barry, a married couple who had the house built in 1955. The Barrys lived in the house for more than 60 years until their deaths in 2017 and 2019, respectively. The property is being sold by a trust.
James Barry, the late couple's son, reported that location scouts first noticed the property because of its verdant landscaping, thinking it had just the right aesthetic to represent the four friends' fictional home in Miami at 6151 Richmond St. (FYI, no such address actually exists.)
So the NBC network paid the Barrys a small sum of money to film exterior shots at the home. They agreed, in part because they wanted to show off their home's unique architecture.
In fact, the home was primarily used as a filming location for only the first season of the show. For later seasons, the Barrys loaned NBC the home's original blueprints so the network could build a replica at Disney's Hollywood Studios, where fans could tour the house until it was torn down in 2003.
So what's the original "Golden Girls" house really like?
An inside tour of 'The Golden Girls' home today
The Barrys modeled their Brentwood property after the Honolulu home of David Noble Barry III's father. Japanese and Hawaiian influences abound throughout the property, which features original oak floors, high ceilings, floor-to-ceiling windows, sliding Shoji screens, built-in cabinets, and an engawa, a traditional Japanese wood flooring surrounding the home.
Who will buy 'The Golden Girls' house—and how much will it cost?
So, who will be the lucky new owner of this iconic TV home? Many real estate experts say it's priced aggressively to sell and the buyer will likely be a toss-up between TV or movie producers who may want to use the location, or private buyers who may be fans of the show.
"The list price is strategic and meant to attract a lot of attention and interest," says Rachelle Rosten, the home's listing agent with Douglas Elliman. "The beauty of this pricing strategy is the market ultimately determines the value. I anticipate this property will sell over the list price. It’s an exciting and emotional house as well as being a nice-sized lot on a desirable street. The market will respond accordingly. It will be very interesting to see who ends up buying this property."
One potential buyer? HGTV, which in 2018 outbid Lance Bass to purchase the home used for exterior shots for "The Brady Bunch." The network renovated the house back to its 1970s glory on the hit show "A Very Brady Renovation."
"'The Golden Girls' home reminds me of 'The Brady Bunch' home sale scenario all over again," says Cara Ameer, a real estate agent with Coldwell Banker in California and Florida. "A television network could be an ideal buyer for the property, such as HGTV or even NBC, which originally aired the series. Perhaps Amazon, Netflix, or a studio like Paramount will want it for future projects—a 'Golden Girls' remake or a similar show with a new twist or even a movie."
As for dollars and cents, Ameer says it's hard to put a specific price tag on a home with celebrity status.
"I would venture that this is going to be subject to multiple offers and may go well above asking price—as much as by $1 million or a bit more," she says.
But not all celebrity-status homes sell quickly. Just look at the famous "Full House" home in San Francisco, which was last sold for $4 million in 2016 and has been listed twice since then with no success. One possible reason could be all the "Full House" tourists crowding the front, which might become a nuisance at "The Golden Girls" house as well, especially if it becomes the subject of a pop culture revival.
"A buyer of this house will need to contend with tourists and fans constantly taking photos and the privacy concerns that come along with that," says Shane Ray, a real estate agent in San Francisco with Domicile Properties/Compass.
Some real estate agents think that the headaches of owning a famous home make them a poor investment.
Cedric Stewart, a real estate agent with Keller Williams Capital Properties in Washington, DC, thinks "The Golden Girls" house will sell for under asking, at around $1.95 million.
"Is there a chance someone would buy it for sentimental purposes or use it as an attraction of sorts? Sure," Stewart says. "But the generation that would most appreciate that is on their way out, so this is not a place you buy to make money."
Only time will tell what will happen to this house, but in the meantime, it's fun to get a chance to see a piece of TV history.
Even though the Golden Girls house has a different interior from the show, here are some interior pics...
1 in 5 Americans Have Moved During the Pandemic
from realtor.com, the move is on...
Millions of Americans have relocated this year due to the COVID-19 outbreak, according to the Pew Research Center. New data released this week shows that 22% of Americans either moved or know of someone who did.
The reasons vary, researchers say, such as college students moving out of dorms as schools closed abruptly, homeowners and renters leaving communities perceived as unsafe, and people moving from housing they could no longer afford. The findings are based on a survey conducted in early June of nearly 10,000 people.
Young adults have been the most likely to move. Thirty-seven percent of those ages 18 to 29 said they either moved, someone moved into their home, or they knew someone who moved because of the pandemic.
Overall, 28% of those who have moved during the pandemic say the most important reason was to reduce their risk of contracting the virus. An additional 23% say it was because their college campus closed, 20% said they wanted to be with family, and 18% said it was a financial decision driven by either a job loss or another money-related reason.
Millions of Americans have relocated this year due to the COVID-19 outbreak, according to the Pew Research Center. New data released this week shows that 22% of Americans either moved or know of someone who did.
The reasons vary, researchers say, such as college students moving out of dorms as schools closed abruptly, homeowners and renters leaving communities perceived as unsafe, and people moving from housing they could no longer afford. The findings are based on a survey conducted in early June of nearly 10,000 people.
Young adults have been the most likely to move. Thirty-seven percent of those ages 18 to 29 said they either moved, someone moved into their home, or they knew someone who moved because of the pandemic.
Overall, 28% of those who have moved during the pandemic say the most important reason was to reduce their risk of contracting the virus. An additional 23% say it was because their college campus closed, 20% said they wanted to be with family, and 18% said it was a financial decision driven by either a job loss or another money-related reason.
Subscribe to:
Posts (Atom)
Posts
