Just like that famous Spice Girls song says: If you really “Wannabe” the owner of this Tarzana home for sale, better grab your sparkly platforms and microphone. The California estate is currently owned by Melanie Brown, best known as “Scary Spice” from the fab pop girls’ group, and is listed for $3.45 million.
Like the Spice Girls, Melanie B. has kept busy in the years following the group’s wild success. She released a successful solo album, performed in Broadway’s “Rent,” competed on “Dancing with the Stars” and most recently starred in a reality TV show on U.S. Style Network, ”Mel B: It’s a Scary World.”
Although Melanie B.’s musical career was predominately focused in Europe, she eventually joined fellow Spice Girl Victoria Beckham (Posh Spice) in Beverly Hills. It was there that Melanie B had a daughter in 2007 by comedian Eddie Murphy. It was Brown’s second daughter.
According to the property listing, Brown and her husband of four years, producer Stephen Belafonte, bought the home in 2009 for $3.159 million.
The gated compound encircles a cobbled driveway and courtyard. Inside, Melanie B.’s home boasts a $1 million renovation, which includes a built-new gym, detached recording studio and professional gym. The mansion opens with a grand foyer with chandelier and winding staircase that leads to a majestic master suite.
Chandeliers are a theme that continues throughout the home, from the European-style living areas to the bedrooms and baths. A first-floor gourmet kitchen includes top-of-the-line appliances and a breakfast bar area. Outside, “state-of-the-art” grounds include an outdoor dining area with chandeliers, cabana and flat-screen TVs.
Like most pieces of celebrity real estate, the home comes with a fully-loaded security system.
The cost of living like a (former) Spice Girl? According to Zillow’s mortgage calculator, a monthly payment on Scary Spice’s home would be $12,851, assuming a 20 percent down payment on a 30-year-fixed rate mortgage.
So long, New York?
Jennifer Aniston continues to inspire media and paparazzi buzz with her recent sighting in L.A., where the famously flat-iron-haired star is said to have bought a new place in Hollywood.
That’s what the Wall Street Journal and TMZ – who broke the story — are reporting: A source close to the star has revealed that Aniston and current beau Justin Theroux have plunked down mega-bucks for a modern love nest in Bel-Air.
Maybe this Big Apple friend has had a change of heart?
If so, it’s a quick turnaround for Aniston, who sold her custom L.A. home “Ohana” a little over six months ago and moved to the Big Apple, where she picked up two penthouse apartments in West Village.
At the time, as she explained to “Good Morning America,” she had been missing New York City.
I grew up here. I miss it. There’s nothing like being in the city…[it's] the city of every man. It’s all walks and I love that.”
But celebrity love can be fleeting — or perhaps the winter weather in the Big Apple had her pining for L.A. sunshine. There had been rumors about Aniston and Theroux shopping together for New York apartments, but apparently they have decided to go West and buy a piece of Bel-Air real estate instead.
Only 6 miles from Aniston’s previous Beverly Hills mansion, Ohana, the couple’s reported new place is a mid-century modern home designed in 1965 by noted Los Angeles architect A. Quincy Jones.
According to the property listing, the home was first listed in 2008 and has bounced on and off the market. Priced at $24.9 million, Aniston reportedly snagged the home for around $22 million.
The Bel-Air home is set on a 3+ acre promontory with high gates, providing Aniston and Theroux privacy as well as spectacular city views. The 8,500-square-foot, 4-bedroom, 6.5-bath home is a decent size upgrade from Aniston’s New York penthouse. Embracing a California indoor-outdoor lifestyle, the property also has extensive lawns, patios, pool and vineyards.
The Federal Reserve announced today that they will keep interest rates low until at least late 2014 in an effort to help jump-start the sluggish economy by making it less expensive to borrow money across all segments of the economy.
What this means for home buyers and current homeowners is that mortgage rates for a purchase loan or to refinance will remain remarkably low in the near-term, keeping affordability high. The 30-year fixed mortgage rate fell below four percent on Zillow Mortgage Marketplace in mid-October 2011 and has dropped as low as 3.67 percent in recent weeks.
Here’s a quick comparison of mortgage rates and affordability using today’s rates compared to 2008:
Today’s rates: For a home buyer shopping for a home today assuming 20 percent down and today’s interest rate of 3.7%, they would be able to afford a $215,000 home with a monthly mortgage payment of about $1,000 per month (including principal and interest).
2008 rates: If a home buyer shopped for a home in 2008 when mortgage rates averaged roughly 6 percent, the same home buyer would only be able to afford a $165,000 home for $1,000 per month (including principal and interest)
Difference: $50,000
Last night, President Barack Obama took to the podium to deliver his annual State of the Union address before a packed house of his Congressional peers, esteemed White House guests, and millions of Americans who tuned in to the live broadcast.
Obama outlined his plan for economic growth, with an overarching theme of creating an America “where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.” While job creation, education, and clean energy initiatives dominated most of Obama’s economic plan of action for his hopeful next term, the issue of the ailing housing market was not side-stepped. “While government can’t fix the problem on its own, responsible homeowners should not have to sit and wait for the housing market to hit bottom to get some relief,” Obama said.
Zillow Chief Economist Dr. Stan Humphries shares a similar view: “Housing presents a bit of a conundrum for Obama,” said Humphries. “People care a lot about it and it will figure prominently in this election year, but there isn’t much the government can do without addressing the main issue of negative equity, which is a $750 billion dollar problem. There aren’t any easy solutions to make it go away.”
What the President did propose to Congress was an expanded refinancing plan “that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low rates.” Despite an immediate bed of skepticism to the new refinancing plan, the revamped program has the potential to “help a lot of people and represents a decent amount of stimulus for the economy,” said Humphries, who has previously discussed the potential benefit of such a program. But, expectations for this stimulus need to be kept at realistic levels. “It‘s important to note however that it isn’t going to fundamentally change the pace of foreclosures or the trajectory of the housing market,” Humphries continued. “Unfortunately, the plan is going to require Congressional approval, which makes it exceedingly unlikely to happen this election year.”
The second bullet item on Obama’s housing agenda tasked the Attorney General to create a special unit to further investigate abusive mortgage and lending practices that led up to the housing crisis. According to Dr. Humphries this special task force “is an effort to satisfy demands for greater accountability for wrong-doings during the housing boom. That’s fine, but it isn’t necessarily a proactive effort to change things going forward. Foreclosure and short-sales are state issues so there isn’t much the federal government can do.”
What else can be done about housing? What actions can the government realistically take to help turn the market around? A more in-depth analysis from Zillow’s Chief Economist outlines six ideas that could not only push the housing market in the right direction, but are ideas both Democrats and Republicans could support (this seems to be the catch).
There is a consensus that housing and home ownership lie at the base of American values and will play an important role over the next 9 months leading up to the election. Obama showed this in his speech last night and, for now, we’ll continue to absorb what each Presidential hopeful has to say before the big voting day.
Philbin_Front Exterior
Source: IMDb
With retirement came a bit of real estate luck for TV personality Regis Philbin.
After trying to sell his Greenwich, CT estate on and off for the past five years, the former TV host has finally sold the home for $3 million, according to the Wall Street Journal.
The talk show host first listed the home in 2008 for $5.9 million, and hoped the 4-bedroom, 6.5 bath property would attract a buyer who appreciated the 5,919 square feet of living space on a cul-de-sac, but it did not sell.
In May 2011, Philbin re-listed the home shortly before he announced retirement from his morning talk show gig “Live With Regis and Kelly,” after almost 25 years on the air. The 79-year-old star has long been a familiar face on American television — so much that Philbin holds the Guinness World Record for the most time spent in front of a television camera.
Philbin’s’ Greenwich home was re-listed in May for $4.195 million and took price cut to $3.8 million in July before finally settling for a sale price of $3 million.
Although Philbin has now sold this estate, he and his wife Joy still have a place to call home in the well-heeled Connecticut town. The couple had purchased a second Greenwich home about three years ago, although they spend most of their time at their Manhattan residence.
Less than an hour’s drive from Manhattan, Greenwich has long attracted celebrities and financiers (such as David Letterman) who can well afford median Greenwich home values of over $1.156 million — and rising.
You may avoid walking under ladders, have never crossed paths with a black cat and have a lucky pair of socks, but have your superstitions affected your real estate decisions?
In honor of Friday the 13th, the most popular superstition in the world, we’re taking a look at some of the irrational fears that can make buyers or renters take drastic measures to avoid potential misfortune.
What is your take? Would you sign a mortgage on Friday the 13th or move into a new house?
That Unlucky Number
Many people’s fear of Friday the 13th stems from fear of the number 13 itself. Considered to be the number of an occult power, fear of the number 13 is a common phobia. Many buildings don’t include floors numbered 13 and some streets and house numbers simply skip over the ominous digits.
There are many things that might sway a decision about where to live and house numbers just may be one of the many superstitions that paralyze home buyers. Despite an age of online property research, and mortgage calculators, the number 13 could loom heavy over a prospective buyer.
According to research analyzed in the book No.13: Unlucky/Lucky for Some, one in ten people who lived at number 13 believed their house number brought them bad luck. Taking it even a step further, researchers conducted a survey in which they asked real estate agents whether people were resistant to buying houses numbered 13. The results showed a whopping 40 percent of agents believed there was considerable resistance that resulted in sellers having to lower their prices.
Feng Shui for Homeowners
Some homeowners turn to the Chinese practice of feng shui to ward away misfortune. A popular method of boosting feng shui is to decorate your home with statues and images of elephants.
There are many applications of the use of elephants in feng shui depending on the material of the elephant and its placement in the home. Some of the more common applications are:
- Placing a statue of an elephant, or a pair of elephants, at the front door brings good luck, protection and strength to the household.
- An elephant or a pair of elephants displayed in the bedroom promotes love and faithfulness between two people.
Saint Joseph, Patron Saint of Real Estate
Those trying to sell a home often feel in need of some divine intervention and a widespread superstition about good old St. Joseph might has to do with real estate. The Catholic saint has long been believed to help with home-relate d matters and according to some, burying a statue of St. Joseph in the front yard of a home for sale will spur a quick bid. With hundreds of testimonials swearing by the real estate powers of St. Joseph, the practice has caught on; you can even purchase a St. Joseph “home sales kit” online.
Here are some suggestions on how to properly bury your statue:
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Dig a hole near your “For Sale” sign by the street approximately 3 inches deeper than the statue. If you have no yard, use a large plant pot.
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Place the St. Joseph statue facing the street in the hole.
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When covering the statue, prayers should be said. They are very often included in the packaging.
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Once you have sold your home, remove the statue and place it in your new home
Elin Nordegren will build a dream home for herself and her children, Samantha and Charlie Woods. SOURCE: Extra
For a private woman who suffered one of the world’s most humiliating cheating scandals, Elin Nordegren waited a long time to explode.
Make that implode.
The former wife of Tiger Woods, who has custody of their two young children, bought a massive, 17,178-square-foot Florida house in March for $12.2 million, located just 10 miles from Wood’s expansive estate on Jupiter Island.
But rather than move the kids into the Florida mansion, TMZ reported the former model decided she didn’t like the place and had it demolished.
Kind of a bold move for a Swede who kept a very cool, low public profile two years ago when Woods’ stunning string of adulterous affairs came to light.
Nordegren has moved on, thanks to the $100 million divorce settlement. According to TMZ, Nordegren has hired a “high-priced architect to build her dream home” and each of the additional workers hired are required to sign confidentiality agreements.
Before the wrecking crew took the place down to the sandy dirt, Nordegren’s ex-home was an enormous white Colonial-style home flanked by columns on a stretch of beach-front property. The North Palm Beach piece of real estate is located in the super exclusive Seminole Landing, a gated, 77-acre community of 60 multi-million dollar properties.
While Nordegren purchased a home in Sweden in December 2009, the Seminole Landing property was her first personal purchase in Florida. Previously, Nordegren held several joint real-estate assets with Woods, including a few properties on Jupiter Island, two homes in Windermere, FL, and a beach-front condo in North Palm Beach.
According to TMZ, Nordegren is currently renting a nearby mansion while her new dream home is constructed.
The EPA wetlands case before the U.S. Supreme Court this week involves a narrow due process issue but for NAR the case provides an opportunity for real estate interests to press their property-rights effort on behalf of property owners.
In the wetlands case, EPA stopped a couple from building their home in an already developed subdivision out of a concern that the property contains a wetlands. The couple wants to have that question reviewed—that is, is there or isn’t there a wetlands on the property? But EPA says that question can’t even be looked at until the couple first restores the land to the way it was before try started to build and then monitor the property for three years.
For the couple, that directive amounts to a violation of their due process rights. NAR agrees.
But NAR also sees an opportunity in the case, because from its point of view, EPA’s action is an example of the kind of regulatory overreach that’s been a problem with the agency since the Clean Water Act was enacted in 1972. That law very clearly says EPA and the U.S. Corps of Engineers have Clean Water Act jurisdiction over navigable waters. But for years, the agencies have been using guidance documents to expand that definition to include other types of water. In the case before the Supreme Court this week, the property doesn’t even contain water except for periodically throughout the year. For NAR, should EPA even be regulating this piece of property?
After months of hitting the campaign trail, Republican candidates hoping to win their party’s nomination for the 2012 presidential election have been spending most of their time in planes, trains and automobiles. Home, sweet, home has been a dizzying series of hotel rooms.
But out there somewhere, each of these politicians actually does have a domestic domicile where there are no corn dogs to eat, no stranger’s babies to hold and no stray swarms of supporters to glad-hand.
As the GOP primary season cranks into high gear, we’re taking a look at the homes these candidates want to trade in for the big white one at 1600 Pennsylvania Ave. in Washington. D.C.
Newt Gingrich
Twitter.com
The former House speaker was born in Pennsylvania, grew up in Georgia and served as a U.S. Congressman from the Peach State, but he now calls McLean, VA home. After his resignation as speaker in 1998, Gingrich’s aspirations to transform the nation, as outlined in his 1994 “Contract With America,” were short-circuited. Now, however, the 68-year-old author is taking no prisoners as he tries to leap-frog over Mitt Romney and Rick Santorum for a shot at the GOP nomination.
Gingrich purchased his home (above) in McLean in 2000 for $995,000. The 5-bedroom, 5-bath home has 5,206 square feet of living space. The Colonial-style home was built in 1987. Only 10 miles from the White House, McLean is a critical suburban outpost for the Beltway political crowd.
Jon Huntsman
2012newhampshireprimary.com
The two-term governor of Utah has spent time in Washington D.C. in diplomatic positions during George W. Bush’s presidency and as an ambassador to China under President Barack Obama. Huntsman currently calls the nation’s capital his home, residing in a Federal-style home since 2010.
The 5-bedroom, 4.5-bath brick house is in the heart of the politician-stacked Kalorama neighborhood. Built in 1911, the 5,119-square-foot home housed the seventh season cast of “Top Chef” prior to Huntsman and his family moving in.
Ron Paul
Source: BuyRonPaulsHouse.com
RonPaul2012.com
During his 20-year service in Congress, former Rep. Ron Paul established himself as one of the country’s leading libertarians. The prophet of self-rule and minimal government is making his third bid for the presidency.
At 76, Paul has been successful in rallying younger voters seeking a leader who promises to alter the political structure of the country. And true to the profile of a man who advocates for people doing things for themselves — in politics or elsewhere — it’s not surprising to find that Paul is trying to sell his house via the Internet without a real estate agent or broker.
The Lake Jackson home is priced at $325,000 and has 4 bedrooms, 5 bathrooms and 5,500 square feet of living space.
Rick Perry
governor.state.tx.us
Gov. Rick Perry is the longest-serving top leader of Texas ever, but now he wants to break out of the Lone Star State, just like his former boss, George W. Bush, under whom Perry served as lieutenant governor.
Perry currently calls the Texas Governor’s Mansion home, but during the mansion restoration in 2007, Perry and his wife rented a $9,900-a-month home in Austin that “raised some eyebrows,” according to the Associated Press. The secluded estate sits on 3.25 acres and includes high-end amenities like Sub-Zero appliances and gourmet kitchen with marble and granite countertops, outdoor kitchen and pecan hardwood floors.
Mitt Romney
Wikipedia.com
The former Massachusetts governor is hoping that his 2008 failure to secure the GOP nomination will turn into a presidential election win in 2012. He’s running as a non-politician, calling himself a businessman who can turn the wheels of the U.S. economy. As the wealthiest of the candidates with an estimated net worth between $190 million and $250 million, it’s clear Romney knows how to spur his own economic recovery.
Out of the slew of GOP candidates, Romney also owns the most real estate, although he has downsized in the last few years. He currently owns a townhouse in Boston, as well as a beachfront home in La Jolla, which he bought in 2008 for $12 million. Romney applied for a permit to expand his beachfront La Jolla home in 2011 and will reportedly begin construction when his presidential campaign is finished.
Rick Santorum
biographyzone.com
Former two-term Pennsylvania Sen. Rick Santorum lost his seat to Democrat Bob Casey in 2006, but he proved that his governmental connections were good for business in his years as a Philadelphia Inquirer writer, Fox News commentator and conservative think-tank leader.
In 2007, after much controversy about whether he and his large family actually resided in Pennsylvania during his Senate terms, Santorum bought a yellow Colonial-style home in Great Falls, VA for $2 million in 2007. The 4-bedroom, 5-bath home sits on five acres and includes a cobbled drive and heated pool.
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.71 percent, down from 3.73 percent at this same time last week.
This represents the lowest rate reported since Zillow Mortgage Marketplace launched in April 2008. The previous low was 3.73 percent, first reported last week on Jan. 3, 2012. The 30-year fixed mortgage rate hovered between 3.7 and 3.74 percent for the majority of the week, dropping to 3.67 percent on Monday before rising to the current rate this morning.
“So far 2012 has brought us lower mortgage rates than most ever thought were possible, and we’re likely going to remain close to these record low levels for the near-term,” said Erin Lantz, director of Zillow Mortgage Marketplace. “Look for rates to stay in this historically low range and possibly drop further if new concerns emerge around the European debt crisis.”
Additionally, the 15-year fixed mortgage rate this morning was 3.03 percent and for 5/1 ARMs, the rate was 2.59 percent.
What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.
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