A stone home built in 1668 in Chestertown, MD, is the oldest home on the market this week on Realtor.com®.
The exterior walls are said to have been constructed of stone “not native to the area” and which may have been transported from England in the original owner’s ships, the listing notes.
Other historic homes to hit the market this week include a modernized antique in New York, a stone manor house in New Jersey, and a stone farmhouse in Pennsylvania.
Scroll down for a full look at this week’s 10 oldest homes.
Price: $327,900 Year built: 1668 Rock of Ages: The two-bedroom home “needs renovation” the listing states. The house, perhaps the oldest in the state, has not been occupied since 1996.
The 1,186-square-foot abode features a cozy living room with wood-paneled walls and a fireplace. One cute bedroom has an arched ceiling. The kitchen and bathrooms need work, and an attached shed has an outhouse.
Prospective buyers and agents are advised to enter the home at their own risk.
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Price: $398,000 Year built: 1690 5 acres and stone walls: This charming three-bedroom home has been well preserved. Measuring 1,480 square feet, it features restored hardwood floors and hand-hewn beams.
The living room has a large bay window, a brick fireplace with a beehive oven, and a wood stove. The kitchen and dining area also comes with a wood stove. The main level has one bedroom, and the upstairs has two additional bedrooms and a small room that could be used as a nursery or home office.
Also found on the property are a smaller barn with a paddock and storage room as well as a larger barn designed to accommodate animals.
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Price: $489,900 Year built: 1700 Center of town: This five-bedroom home combines history with modern flourishes.
The adorable kitchen has a center island with a two-seat breakfast bar. French doors from the kitchen open to a flagstone patio with an old mill/grindstone, along with pathways through gardens. The dining room features restored hardwood flooring, and the formal living room has the original, wide-board flooring and raised paneling. A newer addition off the back would be ideal for a home office or in-law suite.
Significant roof repairs are currently in progress and will be completed before closing. The 1.2-acre lot also features an oversized post-and-beam garage/barn.
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Price: $795,000 Year built: 1712 The Benner House: This three-bedroom antique has been stylishly modernized.
The 2,477 square feet of interior space boasts two ground-floor fireplaces, a main-floor bedroom, an updated kitchen, and an open floor plan with wide-plank flooring and exposed-beam ceilings. The two upstairs bedrooms offer vaulted wood ceilings.
Enjoy views of the 1.6-acre lot from the three-season room or oversized deck. The appealing property is already pending sale after a week on the market.
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Price: $940,000 Year built: 1725 The Bodo Otto House: This six-bedroom, stone manor house is listed on the National Register of Historic Places.
Now restored, the 4,068 square feet of interior space features original details, including seven fireplaces (one has the original cooking crane), random-plank boards, a brick hearth, and exposed stone walls. The modernized kitchen features floor-to-ceiling cabinetry, and the four-season sunroom comes with a private entrance. The primary suite is on the second floor and has a fireplace. Three more bedrooms can be found on the third floor.
The 1.6-acre lot comes with four outbuildings, including a stone smokehouse.
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Price: $695,000 Year built: 1730 Stone farmhouse: The 2,316-square-foot main home has three bedrooms and a full bathroom. It features many period details and will need some TLC. Features include hardwood floors, wood-beamed ceilings, and exposed brick walls.
The 19-acre parcel also comes with a two-story summer house, a five-bay garage, and “a small stream that rumor has it they mined for gold,” according to the listing.
The property consists of two separate deeds being sold as one.
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Price: $625,000 Year built: 1730 The Tuttle Estate: This three-bedroom home was built by one of the original planters who settled in the area, according to the listing.
The 2,906-square-foot space has been fully restored while still boasting many original details. They include wide oak and poplar floorboards restored by hand, wood-paneled walls, and custom built-ins. The dining room has a fireplace with a beehive oven. Two bedrooms can be found on the second floor along with a smaller office that could be used as a bedroom. The third floor has an additional room that could be used as a studio or a bedroom.
The 8-acre lot comes with a three-car garage with a workshop and what is said to be one of the oldest barns in the country.
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Price: $1,289,000 Year built: 1736 Grand Colonial: This spacious, five-bedroom home features original hardwood floors, handcarved woodwork, and seven fireplaces.
Sitting on 1.7 acres next to the Sunningdale Country Club, the 4,345-square-foot residence also boasts custom millwork, diamond windows, built-in bookcases, and preserved hardwood floors. There are window seats, wood-paneled walls, and arched ceilings with exposed beams.
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Price: $324,900 Year built: 1740 Antique Cape: This four-bedroom home features wide-plank wood floors, wood-beamed ceilings, and a beehive oven.
Located in the historic district, the charming, 1,688-square-foot abode offers an open floor plan. Bedrooms can be found on the first and second floors. The bright kitchen has been modernized over the years and now features an island and updated appliances.
The backyard features an above-ground pool.
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Price: $439,900 Year built: 1750 Cape and barn: This three-bedroom Cape comes with a massive, two-story barn with a loft.
The 1,755-square-foot home has been renovated over the years but is still in need of some “finishing touches,” the listing states. The colorful kitchen features a wood ceiling, farmhouse sink, and antique oven. The living room has a pellet stove and wide-board pine floor. The primary bedroom is on the first floor, and two additional bedrooms are located upstairs.
Three outbuildings can be found on the 2-acre lot. The property is pending sale.
After a five-week stretch of declines, mortgage rates ticked up this week, sending ripples of dread through an already shaky spring market.
For the week ending April 20, rates for a 30-year fixed-rated loan averaged 6.39%, up from last week’s 6.27%, according to Freddie Mac.
For context, current mortgage rates are lower than the 6.48% that kicked off the year. But they’re still a whole lot higher than the 5.11% enjoyed by homebuyers this same week in 2022.
These ups and downs have put many homebuyers in a panic over whether it’s wise to buy now or wait. And that’s just one of many problems raising their blood pressure today.
To help both homebuyers and sellers stay one step ahead of today’s rapidly evolving spring housing market, we’ll break down the latest real estate statistics in this installment of “How’s the Housing Market This Week?”
Home prices are still inching up
In addition to contending with rising mortgage rates, homebuyers must also grapple with climbing home prices.
In March, homes were listed for a median price of $424,000. And for the week ending April 15, listing prices grew by 2.5% compared with a year earlier.
“Home prices are climbing as they typically do in the spring. However, momentum continues to dissipate,” Realtor.com Chief Economist Danielle Hale noted in her weekly analysis. In fact, this week’s growth is the slowest she’s seen since May 2020.
“Home prices are likely to go up from month to month through the summer, as they usually do,” she predicts. “But the jumps will be smaller than we saw in 2022.”
In other words, homebuyers will have to deal with slightly higher home prices, but nothing nearly as bad as the runaway sticker shock they experienced last summer. Nonetheless, when you combine these prices with today’s higher mortgage rates, the picture is still grim.
For homebuyers who put 20% down on a typical house, their mortgage payments will now amount to $600 or more per month than last year.
“Home prices have stabilized somewhat, but with supply tight and rates stuck above 6%, affordable housing continues to be a serious issue for many potential homebuyers,” Freddie Mac’s chief economist Sam Khater noted. “Unless rates drop into the mid-5% range, demand will only modestly recover.”
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Watch: 6 Crucial Tips for Bringing Down Your Mortgage Rate
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New listings are still down
Even though homebuyers are coughing up hundreds more per month for a house, the pickings are slimmer than ever.
Although housing inventory is 44% higher for the week ending April 15 than a year earlier, many of these listings are stale and have been stuck on the market 16 days longer than this same period last year. This means that homebuyers have likely seen and passed over a lot of these options already.
Meanwhile, fresh real estate listings just entering the market have been dwindling every week for the past 10 months, and continued downward by 5% for the week ending April 15.
The reason so many homeowners are reluctant to list right now is that many are also buyers who don’t want to trade in their current low-interest mortgage for today’s higher rates.
“Inventory is likely to continue to be a problem, with 82% of those looking to buy and sell feeling ‘locked in’ by their current low mortgage rate,” says Hale.
What’s more, she predicts that this sentiment is “unlikely to change much with current mortgage rates more than 2 percentage points above the rates a majority of homeowners currently have.”
How high rates are strangling the spring market
Ironically, these rising mortgage rates have hit right at what’s been deemed the best week to sell of the entire year. Realtor.com data shows that from April 16 to 22, homes typically earn $8,400 more than they would in a typical week.
Yet unless mortgage rates dip, it will be hard to persuade homeowners to list and make the most of this seasonal high point.
However, there is one group of homeowners who are somewhat immune to the vicissitudes of mortgage rates that gives economists hope of getting the spring market moving.
“Older seller-buyers, who are likely to have a smaller mortgage balance and greater equity, are less likely to report feeling locked in and also more likely to report that they need to sell anyway,” points out Hale. “This is likely to mean that older households will continue to play a prominent role on both sides of the home sale transaction in 2023.”
And let’s also remember the comforting words of Lawrence Yun, chief economist for the National Association of Realtors®: “Calmer inflation means lower mortgage rates, eventually. Mortgage rates slipping down to under 6% looks very likely toward the year’s end.”
Applications are open for the 2023 iOi Pitch Battle! It will take place at the fifth annual iOi Summit on August 29-30 in Miami, Florida. The winner will be awarded $15k, a booth at NAR’s annual conference in November, a meeting with the Second Century Ventures executive team, have their company featured in an upcoming edition of REALTOR® Magazine, and will present the winner of the 2024 iOi Pitch Battle.
Each entrant in the Pitch Battle will conduct a live, 4-minute pitch on their product or service, followed by a 4-minute rapid-fire question-and-answer session from a panel of judges. Entrants must explain how their new tech solution/service works to improve the real estate industry (commercial, residential, or both).
With the grand coronation of King Charles III (finally) taking place in Britain over the weekend, our thoughts turned to royal accommodations—specifically castles, with their turrets, tapestries, and stone fireplaces.
You don’t need to live in Europe to enjoy these old-world luxuries. Here in the good ol’ USA, there are plenty of dwellings that are royally inspired.
And you don’t even have to pay a king’s ransom to live in one. We found five for your viewing pleasure, all priced below $950,000.
So between viewing the royal pomp and circumstance in jolly old England, you might want to take a few minutes to browse the regal residences available in the United States.
Price: $780,000 Spanish style: The Brits aren’t the only ones with castles. There was castle-dwelling aristocracy throughout Europe, and here’s an example of a modern one inspired by the castles of Spain. Set on 5 acres, this 2010-built home has views of Pinos Altos and Silver City.
With three bedrooms and two baths in 3,234 square feet of living space, this castillo (Spanish for “castle”) features a fireplace big enough to roast game, should you be so inclined, and a hobby room that could serve as a chapel, the listing notes.
The rest of the house is distinctly modern, with tiled floors and a kitchen with stainless-steel appliances and a large island.
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Price: $525,000 Gothic gem: A combination castle and chalet, this stone dwelling must have been built by an artist with a regal sensibility. Known as Owl Studio, the property consists of two separate structures, both eco-friendly and constructed from wood and stone.
Their gothic architecture features pointed arches on the doors and windows. The two-story tower offers 360-degree views, a half-bath, and rough-ins for a shower and a kitchen. It will need to be finished and furnished.
The chalet structure has a dramatic stone fireplace and a cozy sleeping loft. Together the unique dwellings could be developed into a short-term rental, an art or podcast studio, or a wellness retreat and yoga studio.
There’s plenty of room for more structures on the 6-acre lot high in the mountains, not far from Fort Collins.
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Price: $899,900 Castle by the lake: This landmark residence was built in 2007 on the shores of Lake Mary Jane and comes with a private pier.
The 3,027-square-foot home with four bedrooms and 3.5 baths was bestowed two titles: Knightsbridge Manor and the Castle in the Pines. It features wood-clad barrel ceilings, a stone staircase, and a solid walnut front door with iron hardware.
The lot measures a third of an acre and features a fire pit and a newly built chicken coop. (Egg-laying chickens are included in the sale.) This castle is said to be the jewel of the amenity-filled, lakefront community known as the Isle of Pines.
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Price: $695,000 Oh my, Ohio! This castle-inspired Victorian was built in 1898 in this quaint town about 77 miles southwest of Toledo.
With six bedrooms and three baths in 4,316 square feet of living space, the stately home near the center of town is just brimming with possibilities. It could be used as a family home, an events venue, or a charming bed-and-breakfast. The formal dining room, exquisitely outfitted kitchen, and the parlors with fireplaces lend themselves well to any of these options.
We’re particularly enamored with the carved-wood detailing, the picturesque reading nook, and the handy butler’s pantry.
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Price: $935,000 Contemporary castle: Located in Walled Lake, this 2004-built manor boasts water views from many of its rooms.
The grounds span two parcels with a pond and fountain in back. The upscale home has four bedrooms and four baths in 2,241 square feet of living space. A grand spiral staircase connects its three levels.
The open floor plan includes a spacious kitchen with a large island and breakfast nook and a finished basement with a bar and a powder room.
The property is close to hiking and biking paths, as well as boating facilities and accommodations for the royal barge.
Florida Gov. Ron DeSantis might be best known these days for his “war on woke.” He’s generated daily headlines for his “Don’t Say Gay” bill in schools, his battles against Disney, and the travel advisories issued against the state by the NAACP and LGBTQ organizations.
However, his housing policies haven’t generated nearly as much attention.
After months of fueling rumors, DeSantis formally announced his bid for the U.S. presidency on Wednesday. What would that mean for the housing market if he wrests the Republican nomination from real estate mogul and former President Donald Trump and wins the general election in 2024? (Currently, Trump has a sizable advantage in the polls among likely GOP voters.) Realtor.com® looked at the No. 2 Republican contender’s housing-related priorities during his four-plus years as governor of the Sunshine State for clues.
“His experience as the governor of Florida has certainly exposed him to the housing market and its issues,” says Sean Snaith, director of the Institute for Economic Forecasting at the University of Central Florida in Orlando. “He’s intimately familiar with the shortage of housing that has plagued our state.”
Florida experienced tremendous growth during the COVID-19 pandemic as companies expanded and legions of folks moved to the Sunshine State. It was the nation’s fastest-growing state last year, according to the U.S. Census Bureau. The median home list price in Florida shot up 42%, to about $468,000, from April 2020 to April 2023, according to Realtor.com data. Rental prices also surged throughout the state during the pandemic.
This year, DeSantis has passed bills geared toward creating more housing, providing assistance to first-time buyers, as well as restricting international buyers from certain countries from purchasing real estate in Florida. The government has also responded to the devastation wrought by hurricanes and flooding by making changes to Florida’s property insurance industry.
The legislature has also been forced to confront the state’s affordability challenges. For years, the state had typically been reallocating the money from its affordable housing trust fund to other projects. In 2021, the legislature agreed that a third of that money will be spent on housing, while the rest can go to other priorities.
Democrats have blasted diverting the money away from housing during such a severe real estate shortage.
DeSantis and Trump will have plenty of competition from other Republicans vying for the nation’s highest office. Former South Carolina Gov. Nikki Haley announced her candidacy in February. South Carolina Sen. Tim Scott threw his hat in the ring this week, and former New Jersey Gov. Chris Christie is expected to enter the fray. New Hampshire Gov. Chris Sununu and former Vice President Mike Pence are also likely to run.
Whoever wins the 46th presidency—from either side of the aisle—will have a major challenge in tackling the housing crisis.
“It would have to be concerted efforts from all levels of government,” says Snaith. “We need to help expedite the process for developers from going from paper to getting these housing units off the ground.”
DeSantis tries to create more affordable housing
In March, DeSantis signed an affordable housing plan that invested more than $700 million to provide low-interest loans to developers building workforce housing in Florida, down payment and closing costs assistance for first-time homebuyers, and the redevelopment of underused properties near military installations.
The Live Local Act is also expected to make it easier to convert commercial buildings into housing by bypassing local zoning boards, building height requirements, and local density regulations.
While superseding local authorities and zoning regulations can lead to a strain on local infrastructure—such as more traffic, crowding in schools, and other growing pains—the housing shortage “trumps” these concerns, says Ken Johnson, a real estate economist at Florida Atlantic University in Boca Raton.
“This will start to increase the supply of housing rather rapidly. We just need units built right now,” says Johnson. “We are still in a rental crisis here.”
He was less enthusiastic about the $100 million provided for down payment and closing costs assistance. The money will fund the Florida Hometown Heroes Housing Program, which the governor announced the creation of last year. It’s geared toward eligible first-time buyers who work in critical professions such as law enforcement, firefighting, education, health care, and child care, and active military or veterans, among others.
“There’s not enough money behind them to make a dent,” says Johnson.
The Live Local Act also prohibits towns and cities from enacting rent controls.
The state of Florida is short about 444,000 affordable and available rental homes for extremely low-income renters, according to the National Low Income Housing Coalition.
“It has been more pocket change than real substantial solutions to the problem,” says Jack McCabe, who runs an eponymous housing consultancy in Southern Florida. “Seven hundred eleven million dollars looks like a lot of money, but the truth is it could take billions and billions of dollars to correct the problem.”
Restrictions on who can buy homes in Florida
Last week, DeSantis signed a bill to prohibit many Chinese citizens who aren’t legal U.S. residents from purchasing real estate in the state of Florida. The bill also bans citizens from six other countries—Russia, Iran, North Korea, Cuba, Venezuela, and Syria—from buying farmland that is located within 10 miles of military sites and critical infrastructure.
In addition, as of July 1, the new law will require some Chinese nationals to register the real estate they already own and whatever they buy with Florida’s state government.
The law has been criticized by Democrats, Asian American leaders, and some real estate professionals.
“The law is very restrictive,” says Dan Lionetta, president of the Asian American Real Estate Association of America, Greater Jacksonville Chapter. He is also a mortgage lender at Movement Mortgage. “We are certainly not in favor of the law and anyone, from any country, being limited regarding purchasing real estate.”
Real estate economist Johnson believes a bill like this “distorts” the market by dictating who can and who cannot buy.
“It will negatively impact price, although I think it will be marginal,” says Johnson. “We’re simply cutting the demand for real estate.
Tackling Florida’s hurricane and flooding issues
Last year, DeSantis signed a Republican bill to prop up Florida’s property insurance system as many companies have gone out of business and others are struggling due to the extensive damage wrought by storms and flooding. The bill raises costs for some homeowners while providing tax rebates for residents affected by Hurricanes Ian and Nicole. It will also force some homeowners out of receiving coverage from the state-created insurer.
As a result, many Floridians expect their already high flood insurance premiums to double this year.
“Many people are being forced to sell their homes and move,” says housing consultant McCabe.
However, the governor has also signed bills into law to give homeowners a break. One prevents insurers from refusing to cover homeowners if their roof is less than 15 years old. And in the wake of the Surfside condo collapse, buildings that are three stories and higher must be inspected after 30 years and then receive additional inspections every 10 years. Buildings that are within 3 miles of the coast must start undergoing inspections after 25 years.
The governor also approved setting $150 million aside last year to be used for grants for homeowners who want to retrofit their homes to be more resistant to hurricanes.
“The overall impact [of a DeSantis presidency] is hard to say right now,” says Johnson. “It’s a toss-up.”
Cue up your favorite girlboss anthem, because the high-powered female brokers at the Oppenheim Group are back!
And along with them come more million-dollar deals, some fresh new faces, and all the drama you’d expect from the Netflix series best described as ‘Real Housewives meets Million Dollar Listing.‘
Spicing things up this season are two new additions to the Selling Sunset cast, joining familiar faces like Chrishell Stause, Mary Fitzgerald, Emma Hernan, Heather Rae El Moussa, Amanza Smith, and Chelsea Lazkani.
O Group veteran Nicole Young steps into the limelight (after she’d only made brief appearances in past seasons, including a memorable one in Season 2 when she officiated Mary and Romain’s wedding), alongside model-turned-real estate agent Bre Tiesi.
For those of you keeping up with celebrity news, Bre might already be a familiar face, as the ambitious real estate agent was holding headlines last year after having a baby with Nick Cannon.
We also get to meet Jason Oppenheim’s new girlfriend, Marie-Lou Nurk, and Chrishell Stause’s partner (later turned wife), G Flip. But despite the show’s new additions, what we’re most excited to see more jaw-dropping mansions and multi-million-dollar homes — and there’s no shortage of those in the new season.
So we took it upon ourselves to track down all the spectacular houses in Selling Sunset Season 6, and give you a breakdown of their impressive features, endless lists of amenities, and upscale features.
The spectacular houses in ‘Selling Sunset’, Season 6
Selling Sunset doesn’t disappoint when it comes to real estate eye candy. From sprawling penthouses to massive mansions, Season 6 brought us plenty of million-dollar homes to daydream about — and even had us revisit some past favorites, like Chrishell Stause’s beautiful home in Hollywood Hills.
And since luxury real estate is our obsession, we couldn’t help ourselves and tracked down all the Selling Sunset houses that graced our screens in Season 6 of the hit Netflix show.
With the exception of Chelsea’s Santa Monica listing, which we couldn’t find as there weren’t many details available (or maybe Chelsea didn’t land the listing?), and Nicole’s West Hollywood listing, here’s a quick update on all of the houses featured this season, along with property photos and videos that allow you to take a closer look at these phenomenal estates.
Bonus: before we go into the houses that made their way on-screen, we’d like to take a second to applaud the Netflix production crew’s choice when picking the shooting location for promotional images.
The posters for Selling Sunset‘s sixth season were shot at the iconic Sheats-Goldstein Residence, an architectural marvel and Hollywood landmark designed by lauded architect John Lautner.
Saint Ives Place, West Hollywood – Harry Styles’ former house
An impressive property with celebrity pedigree, this West Hollywood manse was the perfect location to kick off Season 6 of Selling Sunset.
Previously owned by As It Was hitmaker Harry Styles (who bought and sold quite a few Los Angeles-area mansions over the years, including one that later became Lizzo’s house), Emma’s listing has a phenomenal location and all the luxury amenities you’d expect from a former celebrity pad.
With 4 bedrooms, 6 baths, and 4,401 square feet of living space, the Netflix-features Saint Ives Pl. is ideally located behind private gates right above the Sunset Strip — which means it offers beautiful panoramic views that extend from Downtown L.A. to the ocean.
At the time Selling Sunset filmed its Season 6 episodes, the property was listed for $7,995,000. Not to spoil anything for Netflix fans (as Harry Styles’ former house may make a comeback in the next season), but the property is still on the market, with a slightly reduced price.
We’ve also learned that the property is available as a rental asking a whopping $1,500 PER DAY.
Lloydcrest Drive in Beverly Hills, Emma’s $18,995,000 listing
We’re suckers for striking modern mansions, and the Lloycrest Dr house on Selling Sunset is right up our alley.
The 5-bed, 9-bath house, which comes with a coveted address (it’s set in the prestigious Crest Streets in Beverly Hills), was listed for just under $19 million.
Hardworking Emma had already secured a buyer for the modern Beverly Hills spread, but the sale fell through as the buyers were not happy with how much they’d have to pay for fire insurance, which ran high even for a property this size (the show mentions that the cheapest fire insurance for the house would be 200,000/year – yowza!)
(Spoilers ahead) Fast-forward to now, Lloydcrest Drive is still on the market, though at a significantly lower price point. The property — which offers 10,359 of living space, a massive 2,000 sq. ft. primary suite with a private glam room and hair salon, a gourmet kitchen, and a 20-person home theater with a bar, among others — is currently listed for $12,995,000.
Jason Oppenheim’s two $7.5M penthouses on Hollywood Boulevard
After his Season 5 breakup with Chrishell, O Group co-founder Jason Oppenheim threw himself into work — specifically, converting four condo units on Hollywood Blvd. into two spectacular penthouses with massive rooftop decks and the finest luxury finishes.
As mentioned on the show, Jason sunk nearly $10 million of his own personal money into the project, and he’s looking to cash out by listing each of them for a whopping $7.5 million.
(Spoiler) The two penthouses are still on the market following Selling Sunset‘s Season 6 premiere, though the smaller of the two — both units have 3 beds and 4 baths, but one is slightly larger at 3,820 square feet versus 3,580 sq. ft. — has seen its price drop by $500,000. It’s now listed for $6,995,000 (and as a rental for $49,900/mo), while the larger unit retains the original $7,495,000 asking price and a $49,900/mo rent price.
Micah’s Hillside Ave house
Micah, the developer behind the impressive Lloydcrest Drive property we mentioned earlier, was also selling his original home — and had enlisted Emma to be his agent for this one too.
Set on the same prime Hollywood Hills street as the unforgettable $40 million Hillside house from Season 1 and 2, the 5-bedroom, 5-bath home comes with 4,840 square feet of luxurious living space, an open floor plan with floor-to-ceiling sliding glass doors, and a King Kong statue(?) guarding the pool area.
Remember when Emma said how flattered she was that Micah was entrusting her with the sale of this home? Well, turns out he was right to do so (Warning, spoilers ahead): The Hillside Ave house from season 6 of Selling Sunset sold for more than the asking price.
Listed for $5,495,000 in August 2022, the 5-bedroom spread sold for $5,726,000 a few months later, in November 2022 per public records. Way to go, Emma!
N Stanley Ave, the black house on Billionaire’s Row
For this one, we didn’t have to do much research, as we extensively covered this beauty when it came to market last year.
Definitely one of the most impressive houses featured on Season 6 of Selling Sunset, the newly-built N Stanley property that Heather and Bre visit together is nestled in the hills above Sunset Strip, in the coveted ‘Billionaire’s Row’.
Priced at a cool $24.995 million, the plush property offers all the bells and whistles you’d expect from an ultra-luxurious L.A. listing. And a few extras that probably wouldn’t have crossed your mind.
Offering panoramic views of DTLA, the Pacific Ocean, and the canyon, the spec house offers 6 beds, 9 baths, and nearly 10,365 square feet of living space. It also has a custom home theater, fitness center, wine cellar, second living room, and all the finest custom finishes.
The sophisticated smart home also features museum-quality crystals sourced from around the world and placed with extraordinary care throughout the home to energetically enhance the luxury residence. Take a closer look at this stunning Hollywood Hills mansion.
Now, while on the show we see Bre and Heather touring the property (and later, Bre showing the house to her client, Adam), the black N Stanley house from Selling Sunset‘s season 6 was never listed with the Oppenheim Group.
The listing agents for the property are Camellia Yeroomian of The Agency (the other luxury brokerage that has its own Netflix series, Buying Beverly Hills) and Monty Abramov of The Beverly Hills Estates. Which means it isn’t a spoiler if we reveal that the fabulous mansion is still on the market, boasting a slightly altered listing price of $22 million.
300 The Strand, Chelsea’s $22M listing in Manhattan Beach
Set on a corner lot facing one of California’s best beaches, 300 The Strand is a rare oceanfront listing with all the bells and whistles its high price point commands.
With 4 bedrooms, 9 baths, and 4,440 square feet of modern coastal living space — plus a Strand-front patio, and a sports court with basketball hoop and a private, heated entertainment terrace with in-ground spa, fire pit and BBQ — Chelsea’s 300 The Strand listing is definitely one of the most impressive properties featured in Season 6 of Selling Sunset.
Related: Manhattan Beach’s priciest listing is a $36M modern mansion with luxury resort vibes
A few months after the season filmed, the oceanfront home in Manhattan Beach is still on the market, looking for either a buyer (it’s still listed on the O Group’s website for $21,999,000, though it’s worth noting that other industry websites no longer have it listed for sale) or a renter (it also appears as a $55,000/mo rental on popular real estate websites like Zillow or Realtor.com).
The Woodvale Road property in Encino
Heading over to Encino, new O Group agent Bre Tiesi is hoping to land a phenomenal listing set on Woodvale Road.
The newly built, 8-bedroom, 14-bath property is the pinnacle of luxury, offering over 21,000 square feet of meticulously crafted and designer done living space.
With stand-out features like a chef’s prep kitchen, home theater, professional gym, full spa, hair salon, elevator, temperature-controlled wine storage, 14-car garage that doubles as an event space, outdoor basketball court, and fabulous detached two-story guesthouse, the Woodvale Road property was priced at $25 million, and Bre was eyeing the ultra-generous $750,000 commission she would make from the sale.
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(Spoiler ahead) However, a little bit of research shows that Bre did not in fact land the Encino listing. Public records for the property show that it did find a buyer though — even if the O Group was likely not involved in the transaction.
The Encino mansion ended up selling in February 2023 for a cool $17,500,000, a price point that made it one of the biggest transactions in the family-friendly Encino neighborhood.
The Benedict Canyon house Mary was eyeing for one of her clients
For one of her clients — a couple from the UK who works in events and needs plenty of space and a large backyard — Mary was touring a stunning Beverly Hills property aptly dubbed Jardin de los Suenos (the House of Magical Gardens).
The newly designed Benedict Canyon house on Selling Sunset comes with 6 bedrooms, 7 full baths and one half-bath, and a generous 7,000 square feet of living space.
With extra tall ceilings (14-foot ones for the common spaces, and a 23-foot ceiling in the formal entry foyer) paired with equally tall windows and sliding glass doors, the property perfectly embodies the indoor-outdoor Cali living.
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2231 Benedict Canyon Dr Beverly Hills from Barcelo Photography Inc. on Vimeo.
Also featuring a total of 5 fireplaces, a 200-bottle temperature-controlled all-glass wine storage room, and a media/screening room, plus a one-bedroom guest house, it’s no surprise that the property didn’t linger on the market for too long.
(Spoiler alert) Listed for $8,999,995 in late July of last year, the property was sold a couple of months later for almost full ask: $8,956,000. Unfortunately, it doesn’t seem like Mary’s clients were the lucky buyers. Public records show that a different brokerage was attached to the sale.
The Oak View Drive house in Encino that Chrishell visits
On Episode 5, S06 of Selling Sunset, we join Chrishell for a property visit that brings us back to Encino to tour a 7-bedroom, 9-bathroom house on Oak View Drive.
Boasting the “best views in Encino”, the 7,003-square-foot home had been completely re-imagined by the developers, who invested about $1 million in property upgrades before listing it themselves.
Featuring beautiful cedar and oak detailing, a perfectly-appointed kitchen, a 1,000-square-foot primary bedroom with a large bathroom, and an infinity pool (plus a quirky neon sign that says “I Licked It So It’s Mine”) the Oak View Drive house also got Amanza and Heather’s seal of approval.
What happened to it since that episode was filmed? (Potential spoilers ahead) While Chrishell mentions that she does have a client that’s looking for something in this price range (especially if the developers/listing agents are willing to adjust the price, if needed), it seems that the property may have not been a good fit after all.
Listed for $7,895,000 million at the time of filming, the Encino house is still on the market — but has recently been re-listed at a revised price of $6.5 million. Take a closer look (swipe for more pics):
The sleek $33M Londonderry Place mansion Bre tours with her client
Bre means business! Her drive to sell eight-figure properties leads to her showing a striking $33 million mansion to one of her clients, Telli Swift, the fiancée of championship boxer Deontay Wilder.
One of the most bonkers mansions we’ve seen this season, the Londonderry house blends black and gold finishes throughout its 14,000 square feet of living space.
With 6 bedrooms, 8 baths, and soaring 30-foot ceilings, this sleek Selling Sunset mansion has an endless list of amenities, including a spa wellness retreat with a cryo chamber, hot yoga and salon, and a two-level glass-bottomed pool.
The striking property was also featured on Architectural Digest a few years back, with its unique amenities and aesthetic appeal attracting over 4.5 million views on YouTube.
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(Spoilers) At the time of writing, shortly after Season 6 of Selling Sunset aired, the Londonderry house is no longer on the market, per public records. However, since no sale was recorded in the meantime, it could very well be that the property is still up for grabs but held as a pocket listing by one of L.A.’s top luxury brokerages.
Poo Bear’s house at Zorada Court
Once again courting her many famous friends, we see Bre touring music producer Poo Bear’s house in Los Angeles, a 5-bedroom, 5.5-bath modern retreat overlooking Nichols Canyon.
Poo Bear and his wife, Ashley, are looking to list the property as they’re moving to Miami and Bre is hoping to get the listing, which could potentially earn her a $297,000 commission.
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Beyond the property’s many attributes, Poo Bear’s house is also where music history has been made. The music producer/songwriter has collaborated with some of the biggest names in the music industry, including Justin Bieber, Chris Brown, Usher, Skrillex, and J Balvin, with many of their famous songs being written in this house.
In fact, the white piano (that comes with the house) is where Justin Bieber’s Yummy was created, Poo Bear shares.
Related: Where does Justin Bieber live? His many houses — both past and present
As for what happened to the property after its Selling Sunset appearance (warning, spoilers ahead): after first being listed in November 2022 for $8,900,000, Zorada Ct’s price was dropped to $7,995,000 in early February 2023, only to sell less than two months later for $6,850,000. No O Group agent was involved in the transaction, neither on behalf of the seller nor of the buyer.
Chelsea’s listing at 15th Street in Manhattan Beach
Taking us back to dreamy Manhattan Beach, Chelsea walks us through her 3-bed, 4-bath listing with easy beach access.
While the first offer Chelsea got for the property was fairly low ($3.6 million), she knew she priced the house right and wasn’t going to budge until she got the offer up for her client.
And she stayed true to her words, selling the 3-story for $3,900,000 — just $50k shy of the initial asking price of $3,950,000. Way to go, Chelsea!
The Beverly Boulevard condo Heather tours for Heather and Terry Dubrow
Leading the home search for Real Housewives of Orange County star Heather Dubrow and her husband, plastic surgeon and Botched co-host, Terry Dubrow, Heather tours a $17,500,000 condo at 8899 Beverly Boulevard, hoping she will land her biggest sale to date.
Accompanied by Brett, Heather walks us through the 4-bed, 4.5-bath condo with jaw-dropping views and resort-level amenities.
However, we learn later on that Terry and Heather Dubrow didn’t purchase the place, but they did ‘settle’ on an equally expensive penthouse set in the coveted Century building known as the Cavalli Penthouse (due to its many upscale furnishings that bear the signature of Roberto Cavalli).
Heather wasn’t the only one to land a killer commission though. (Potential spoiler) The $17.5 million penthouse from Selling Sunset was sold a few months later (at full ask), with none other than Brett Oppenheim repping the buyer.
Elvis’ honeymoon house
Okay, so this isn’t an O Group listing, we know. But how can we write an article about all the phenomenal luxury listings featured in this season of Selling Sunset without at least mentioning Elvis and Priscilla’s honeymoon house?
An iconic Palms Springs property, the futuristic residence was actually built in 1960 by pioneering Modernist architect William Krisel.
At the time, its spaceship-like design earned it the moniker “The House of Tomorrow”, but that didn’t last long, as Priscilla and Elvis Presley famously celebrated their honeymoon here in 1967 — after which it became widely known as “Elvis’ Honeymoon Hideaway”.
Related: Graceland, Elvis Presley’s house in Memphis – everything you’ve ever wanted to know
Last year, the property had a brief stint on the market, listing in early October 2022 for $5,650,000. Unsurprisingly, a month later, the King’s honeymoon house was already sold at full ask.
The Brentwood house Bre shows Saweetie
Heading over to celebrity-friendly, suburban Brentwood, Bre takes us — and her friend, rapper Saweetie — on a tour of a 7,401-square-foot beauty priced at a cool $8,800,000.
The 5-bedroom, 7-bath home at 19th Helena Drive sits on a quiet cul-de-sac and boasts beautiful architectural details. With an expansive open floorplan on the main floor, inviting (and ultra-private) bedrooms shielded by the lush landscaping, and a lower level designed for entertainment — featuring a plush theater and deluxe wet bar, opening directly to the impressive pool with spa, green lawns, barbecue area, and built-in firepit — the house does seem to be a perfect fit for Saweetie.
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(Potential spoilers) However, despite Bre’s excellent match-making, it wasn’t a done deal. Public records show that the property did indeed sell, but the sale closed in late March 2023 and doesn’t show Bre or any other Oppenheim Group agents associated with the transaction.
The selling price was $7,000,000, considerably lower than the $8.8 million ask mentioned on the show. Fun fact: the property was actually first listed for a whopping $12,949,000.
The house Heather and Bre visit on Sunset Plaza Dr
The last property of this season takes us to Sunset Plaza Dr, where a new-to-market 3-bed, 4-bath listing needs to be assessed by Bre and Heather, to see if it’s a good fit for their clients.
Listed for $4,995,000, the 3,364-square-foot bachelor pad has a massive primary bedroom suite that gets several “Oh my gosh” out of Heather, which isn’t an easy feat given the type of properties she’s used to.
This sleek contemporary home located above the Sunset Strip showcases jetliner panoramic views from Downtown to the ocean. It then comes as little surprise that the home also has multiple outdoor decks and a rooftop deck to capitalize on those extraordinary views, as well as an infinity edge pool with a private Baja deck and swim-up bar.
As for what happened to it (Potential spoilers), the Sunset Plaza Dr property sold in April 2023 for $3,150,000. While it may not have been a good fit for any of Heather or Bre’s clients, the O Group did get a significant commission out of the sale, as Jason Oppenheim was the listing agent for the property.
Admittedly, while watching the show, I felt like there were fewer properties and considerably more drama than in previous seasons. However, after writing about each Selling Sunset house that graced our screens in Season 6 of the hit Netflix docu-soap, I realize there were quite a few show-stopping mansions for us to daydream about. Hope we’re going to get to see some of them return in Season 7.
Editor’s note: While we did our best to identify all the properties featured on Selling Sunset, there’s always a possibility that we’ve missed something. If you spot anything that’s off, or you have an inside tip on one of the properties, drop us a line anytime at hello (at) fancypantshomes.com
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As rent prices continue to soar all over the country, you may be finding yourself entering your first real estate search.
You’re not alone. According to the National Association of Realtors, millennials are ending their leases and buying homes in large numbers. Those in their late 20’s to early 30’s now make up the fastest-growing segment of buyers today. But how to even shop for a home these days?
First-time buyers might remember being dragged to Sunday open houses with their looky-loo parents, but those days are gone. Everything is online, and many real estate apps have sprung up to help buyers find their dream homes.
The 7 Best Home Buying Apps
Zillow: Best for overall use
Trulia: Best for community insight
Homesnap: Best for convenience
Redfin: Best for multilevel support
Rocket Homes: Best for one-stop shop
Realtor.com: Best for reliability
Homes.com: Best for quicking listing updates
Best Home Buying Apps at a Glance
App
Best For
Details
Key Feature
Zillow
Overall usability
Virtual tours
Push notifications
SEE DETAILS
Realtor.com
Reliability
3D tours
Detailed descriptions
SEE DETAILS
Trulia
Community insight
34 map overlays
30M neighborhood reviews
SEE DETAILS
Rocket Homes
One-stop shop
Agents/lenders links
Area trend reports
SEE DETAILS
Homesnap
Convenience
High-definition photos
Optimized for mobile
SEE DETAILS
Redfin
Multilevel support
User-friendly interface
Calculates mortgage/fees
SEE DETAILS
Homes.com
Quick listing updates
Home showings via Zoom
Mortgage calculator
SEE DETAILS
Zillow
Pro
Between for-sale-by-owner and official properties, it provides users access to over 135 million property listings.
Con
The “Zestimate” algorithm uses tax records to produce home value estimates, which sometimes are inaccurate.
The Zillow house-hunting app app is the most downloaded real estate app on the Apple store and Google Play — and for good reason. Its database constantly updates and has 36 million users monthly. You can set up push notifications for new real estate listings that meet your search criteria so you’ll never miss out on your potential dream home.
The app allows you to filter real estate listings by price, ZIP code, square footage, must-have features and more. You can even coordinate your search with a partner or roommate by tagging home features and sharing your favorites.
Zillow provides 3-D tours and a scheduling feature to set up an in-person tour. One of its best features is self tours of Zillow-owned homes, a feature available in some markets that allows house hunters to stop by the property at their convenience and simply unlock the house with the app.
Newly added to the Zillow app is a “natural-language search” tool, which responds to user questions in direct fashion, rather than requiring users to type multiple search questions to get to where they want to go.
Realtor.com
Pro
It’s the official search portal for the National Association of Realtors, meaning its updates are the most accurate.
Con
Clicking on “contact agent” will not go to the listing agent, but instead to a local real estate agent who has paid for this lead service.
Realtor.com is one of the best home buying apps out there for on-market listings. Being the official search portal for the National Association of Realtors means you can trust the home listings that pop up in your search. The data is directly mined from the MLS (multiple listing service) and refreshes every 15 minutes.
The search features include a wide variety of filters and provides the most detailed real estate listing descriptions, which include things like crime rates, school ratings, property tax and history of home value estimates — even things like the neighborhood noise levels or whether a home is in a FEMA flood zone.
Because the app updates so often, setting up push notifications means you’ll quickly know when a new property hits the local market. You’ll also have the power of the “Sign Snap” tool in your pocket the next time you drive by a “for sale” sign. All you have to do is take a photo and Realtor.com pulls all of the home’s details instantly.
Trulia
Pro
Shows names and contact information for listing agents, so users know who they would be working with for each listing.
Con
You’re prompted to call or email the listing agent on any property you view, which can get in the way of casual browsing.
Acquired by Zillow in 2015, Trulia has access to most of Zillow’s database of over 135 million active listings and has become one of the best real estate apps. What sets it apart is the focus on community insight provided by those who are located in the area you are searching. You’ll not only get details on the property, but information on what it’s like to live in that specific neighborhood.
You’ll be alerted about price reductions and upcoming open houses, and the app will recommend new listings. Insights sourced straight from locals and 34 neighborhood map overlays offer details on commute times, nearby businesses, crime rates, nearby schools, and more.
Two other features added in 2018 distinguishes the Trulia app from others. “What locals say” and “local legal protections,” combine local feedback and public data to provide information about what a neighborhood is like, from level of dog-friendliness, day-in-the-life details, and even how folks decorate for the holidays.
You’ll also be able to see whether there is legislation in the area to protect against discrimination for gender identity or sexual orientation in employment, housing or public accommodations.
Rocket Homes
Pro
Lets you access your TransUnion credit report, which is updated every week.
Con
Does not provide a home value estimate.
Similar to Trulia, Rocket Homes puts an emphasis on getting to know your soon-to-be neighborhood, but from a market statistics perspective.
This real estate knowledge will come in handy when searching for a home. You can compare properties in the area, seeing how long they’ve been on the market and what they sold for. If you’re not planning on living in your first home forever, this will help give you an idea of what kind of return on investment you can expect from your purchase in the future.
Rocket Homes is a product of Quicken Loans, giving you the opportunity to shop for homes from new and updated listings and have access to lending services all in one place.
This real estate app also helps you stay on track when it comes to some of the more boring parts of purchasing a home, like tracking your credit score. Rocket Homes gives you access to a free TransUnion credit report that is updated frequently, so you know exactly where you stand before starting the mortgage application process.
Homesnap
Pro
Get extensive details on a home just by snapping a photo of it.
Con
Lack of coverage in some areas; Homesnap must partner with individual multiple listing services.
The Homesnap real estate app is perfect for the on-the-go house hunter. You can simply snap a photo of a home and get all of the data available. This feature means you have real-time connection to your local multiple listing service from the road.
If you choose to search from the comfort of your home instead, the Homesnap app allows you to search for open houses by date, and even provides live-broadcast, virtual showings if you want to avoid mingling with other buyers in person.
You can collaborate with your real estate agent through a built-in private messaging function that automatically saves your listings for quick reference. Like most real estate apps, you have a ton of customizable filters for efficient searching, and will be provided with up to date information about the home and neighborhood like commute times, satellite photos and more.
Redfin
Pro
Updates every five minutes so you never miss a new listing.
Con
If you don’t live in one of the 90 U.S. and Canada markets where Redfin has agents, you won’t be able to connect with one.
Redfin’s out-of-the-box-business model combines the convenience of a high-performance app and the expertise you can only get by working with a real estate agent directly. Because Redfin is also a brokerage firm, you’ll have access to their top-quality real estate agents.
Working with a real estate agent gives you more in-depth market insights so you can make smart home buying decisions. And through the “Hot Homes” feature you’ll know which homes are more likely to sell fast so you don’t miss your chance of putting in an offer while house hunting.
Redfin also recently updated its data on climate risk, school ratings and neighborhood amenities.
Homes.com
Pro
Most of 2020 was spent updating the speed and user-friendliness of the app.
Con
Limited information on neighborhood and demographic data.
The Homes.com app is partnered with the MLS to bring you quality leads on your home buying search. The app offers a plethora of filter criteria like the other apps, such as square footage, ZIP code, number of bedrooms and bathrooms, but has an emphasis on lifestyle. Not only will you find the best house, but in the neighborhood that’s right for you.
The exclamation icon makes it easy to spot new real estate listings when scrolling through your search results. You also have the option to “favorite” or “block” certain properties in your feed so you can revisit the ones you love and eliminate the ones you don’t.
The mortgage calculator on Homes.com includes specific financing options like FHA (Federal Housing Administration) loans and special rates for active military members or retired veterans.
Frequently Asked Questions (FAQs) About Home Buying Apps
There’s a lot of home buying apps to pick from when you are seriously or even casually looking for a home. We’ve rounded up answers to some of the most common questions about home buying apps.
Which App is Best for Buying a House?
The best app for buying a house is the one that fits your needs. But Zillow is the most popular because it does a lot of things right, including allowing users to filter information by price, ZIP code, square footage, must-have features and more. Zillow also lists for-sale-by-owner homes. Zillow is the most downloaded real estate app on the Apple store and Google Play. It gets a 4.7 rating out of 5 from 475K reviews on Google Play. In the Apple App store, more than 6 million reviews get Zillow a 4.8 rating.
What are Home Buying Apps?
Home buying apps are mobile tools accessible on various digital devices that let users see listings to buy, sell or rent a property. Different apps have unique features but all of them include multiple photos of properties, prices, property tax and loan information and the ability to connect with real estate professionals.
Home buying apps provide many benefits to users because of their national coverage and even global offerings. Users can see maps and learn about neighborhoods, too. Best of all, they are free.
How Accurate are Home Buying Apps?
Because home buying apps take information from various sources, there will always be a margin of error in valuations. Estimated values are made from information gathered from county and tax assessor records, multiple listing services and real estate companies.
For properties on the market, the apps should have accurate asking prices or rental amounts. Where there is more variation is on property estimates, including for properties not on the market. You should consider these ballpark figures and not 100% accurate especially in a hot market when prices are jumping seemingly daily.. The apps are a good place to start but most people follow that information with a call to a real estate professional.
What is the Best House Hunting Site?
Zillow is the best overall site with its massive listing bank while Realtor.com is tops for reliable information. Trulia is excellent if you want more information about the community around a home. Homesnap is tops for photos and it is optimized well for mobile. If you want to connect with a Realtor, check out Redfin and if you want a direct line to a lending service, Rocket Homes may be the right pick for you.
Which App is Better: Zillow or Redfin?
Zillow edges out Redfin because of its massive reach. Redfin is not available in every market. However, Redfin is a brokerage which connects directly to the massive database of real estate listings commonly called MLS. Zillow does not do that. Zillow allows for sale by owner listings and Redfin does not.
What is the Most Popular Real Estate Website?
Zillow is the leading real estate website with more than 36 million unique visitors a month and about 135 million live listings. Trulia, which Zillow has owned since 2015, comes in second with 23 million unique visitors. Zillow was founded in Seattle in 2006 and claims to be the most accurate at price estimates, called ‘Zestimates” though there are lots of claims otherwise.
The Bottom Line About Home-Buying Apps
As you can see, if you’re ready to break up with your landlord, calculate what down payment you can afford and start your journey to home ownership, you have plenty of house-hunting apps to take advantage of.
Along with all the other details involved in this adventure, it may take some trial and error to find the app that hones in on your specific house-hunting search criteria. But it’s worth spending the time if it helps you get everything you want in your first home.
Contributor Tiffany Beyer is a social media coordinator and marketer specializing based in St. Petersburg, Florida. She specializes in real estate and lifestyle issues stories. Freelancer Kent McDill contributed to this post.
If you’re looking to buy a home, new federal rules may impact how much you pay for a mortgage.
Beginning May 1, upfront fees for loans backed by Fannie Mae and Freddie Mac will be adjusted because of changes in the Loan Level Price Adjustments (LLPAs). Those fees are based on things including the borrower’s credit score, size of the down payment, type of home and more. In some cases, people with better credit scores may pay more in fees, while those with lower credit scores will pay less.
Here’s what to know about the new federal rules:
Why is this happening?
The rule changes are part of the Federal Housing Finance Agency’s (FHFA) efforts to provide “equitable and sustainable access to homeownership” and to strengthen capital at Freddie Mac and Fannie Mae.
“The [Biden] administration’s stated purpose behind making these changes is to help make it easier for borrowers who have historically been disadvantaged and have had a hard time accessing credit,” Realtor.com chief economist Danielle Hale told ABC News.
Who does it impact?
The new rules only apply to loans backed by Fannie Mae and Freddie Mac, and impact any new or refinanced home loan signed May 1 or later. According to Urban Institute, Fannie Mae’s and Freddie Mac’s share of the mortgage market collectively comprised nearly 60% of all new mortgages during the pandemic in 2020. That’s compared with 42% in 2019.
Homebuyers who put down a larger payment of 15% to 20% could see a bigger increase in mortgage fees, but Bankrate.com mortgage analyst Jeff Ostrowski said that shouldn’t change a borrower’s thought process.
“The new matrix everyone is trying to decipher is only part of the equation,” Ostrowski told ABC News. “The other part is mortgage insurance: Borrowers who put less than 20% down have to pay mortgage insurance that more than offsets the lower upfront fee. So there’s no financial advantage to the borrower to put down less than 20%.”
How will it work?
“The new fees are slightly more expensive for some borrowers with good credit, and slightly less expensive for some borrowers with less-than-perfect credit,” Ostrowski told ABC News. If you have a stellar credit score, you’ll still pay less than if you have a weak one, but the penalty for having a lower credit score will now be smaller than it was on May 1.
“Because of these changes, the advantage of having a higher credit score, or making a larger down payment, is not as big as it used to be,” Hale said.
For example, beginning May 1, a buyer with a good credit score of 750 who puts down 25% on a $400,000 home would now pay 0.375% in fees on a 30-year loan, or $1,125, compared to 0.250%, or $750, under the previous fee rules.
Meanwhile, a buyer with a credit score of 650 putting a 25% down payment on a $400,000 home would now pay 1.5% in fees on a 30-year loan, or $4,500. That compares with 2.75%, or $8,250, under the previous rules.
According to the FHFA, the new rules will redistribute funds to reduce the interest rate paid by less qualified buyers.
Is this a good thing?
It depends on who you ask. Critics say the new rules penalize people with good credit, using them to subsidize loans of riskier borrowers. “It’s another subsidy to try to buy votes,” former Home Depot CEO Bob Nardelli told ABC News.
The new mortgage fee rules do nothing to address ongoing inventory challenges in the housing market, which is putting upward pressure on home prices. The median U.S. home price in March was $400,528, according to the realty broker Redfin.
Some housing experts fear the new rules will encourage banks to lend to borrowers who perhaps shouldn’t qualify for a mortgage in the first place. Lending to unqualified buyers is what led to the financial crisis of 2008; banks gave too many unqualified buyers home loans that they ultimately couldn’t pay back.
“This confusing approach won’t work and, more importantly, couldn’t come at a worse time for an industry struggling to get back on its feet after these past 12 months,” David Stevens, a former commissioner of the Federal Housing Administration during the Obama administration, wrote in a social media post. “To do this at the onset of the spring market is almost offensive to the market, consumers and lenders.
Even with the changes, Ostrowski said that overall, mortgage fees continue to favor borrowers with good credit. “You still get a much better deal with a strong credit score,” he said. “So, tanking your credit score in hopes of scoring a better deal would backfire.”
You don’t have to be a U.S. citizen to buy a home in the U.S. You don’t even have to be a U.S. resident. Anybody who wants to can purchase property here.
Between April 2021 and March 2022, the value of residential property in the United States that was sold to foreign buyers totaled $59 billion, according to the National Association of Realtors (NAR)’s International Transactions in U.S. Residential Real Estate report. The vast majority of non-resident buyers are from Canada and Mexico, followed by China. They’re largely purchasing detached single-family homes in Florida and California.
While almost half (44 percent) of foreign buyers rely entirely on cash to make these purchases, it’s also possible for non-residents to obtain a mortgage in the United States to help finance the new homes. It’s not all smooth sailing, though. Non-citizen homebuyers will have to deal with slightly more complicated mortgage application requirements establishing their financial qualifications. They will also have more complex tax laws to comply with as homeowners.
What type of property can a non-resident buy?
Any non-U.S. citizen, including permanent residents, temporary residents, non-residents, refugees, asylum seekers and those who are recipients of Deferred Action for Childhood Arrivals (DACA) relief, can buy property in this country. There are no legal restrictions prohibiting the purchase of real estate by individuals who fall into any of these categories.
“Purchasing a residential property in the U.S. is open to any individual regardless of their citizenship,” says Jen Horner, a Realtor with RE/MAX Masters in Salt Lake City, Utah.
There are also no limits surrounding the type of property that can be purchased. A non-U.S. citizen can buy a single-family home, condo, townhouse, duplex or apartment building — or even land with no structure on it at all.
“There are no restrictions in the United States on purchasing a property as a foreign national. This applies to resident foreign nationals who might want to buy property for primary residence based on where they currently live in the United States, or non-resident foreign investors looking to buy property for other reasons — such as investment use or a vacation home,” says Chase Michels, of the Michels Group at Compass in Hinsdale, Illinois.
According to the NAR, between the spring of 2021 and the spring of 2022, 74 percent of foreign buyers purchased a detached single-family home or townhome. In addition, 44 percent of foreign buyers purchased a property for use as a vacation home, rental or both.
What documents does a non-resident need to buy a home?
While they can buy freely, non-U.S.-citizen buyers are typically required to provide additional documentation to complete a home purchase in the United States, compared with U.S. citizens.
The exact requirements vary however, depending on whether the home is being purchased with cash or a mortgage, and based on the specific resident status of the buyer. Some of the basic requirements for non-U.S. citizen buyers, says Michels, often include:
A foreign passport, U.S. visa or driver’s license
Social Security number or Individual Taxpayer Identification Number (ITIN)
Financial statements from applicant’s foreign bank, if applicable
Evidence of financial assets/income (bank statements, etc.)
Tax returns (preferably U.S., if applicable)
“Cash purchases will require proof of identity and reporting the purchase to the federal government,” says Horner. “If a mortgage lender will be used, they have the ability to request as much documentation as they feel necessary to advance [the] mortgage application.”
Which begs the question: Are non-U.S. citizens able to obtain mortgages to finance home purchases in the United States? The short answer is yes. But it’s complicated.
How can a non-resident finance a home?
In general, mortgage lenders prefer to work with applicants currently living in the United States, and who are classified as permanent or non-permanent residents. (Individuals who have a green card and a Social Security number are permanent residents, while those who have a Social Security number, but no green card, are non-permanent residents.) Their rationale is simple: Applicants residing in this country are viewed as less of a risk, particularly in cases of default on the loan.
Their residency status impacts the specific type of mortgage that can be used. There are two main categories of lending for non-citizen purchases, says Michael Cantwell, loan officer for Guild Mortgage. “One major classification is that of a foreign national and the other would be those individuals currently living in the United States who have not received U.S. citizenship yet,” says Cantwell.
Applicants who fall into either of these categories can usually qualify for a conventional mortgage backed by Fannie Mae and Freddie Mac, as well as Federal Housing Administration (FHA) government-backed loans. However, non-permanent residents will need to be using the home as a primary residence in order to obtain mortgage approval.
“Many banks and mortgage companies offer conventional and FHA home loans to non-U.S. citizens provided they can verify their residency status, work history, and financial track record,” says Michels.
And for non-residents? Applicants living abroad can buy properties in this country using what’s known as a foreign national loan or foreign national mortgage loan, says Cantwell. These loans are typically offered by U.S.-based banks and lenders and are designed for borrowers living outside the country who are seeking to either purchase or refinance. Foreign national mortgages are not backed by Fannie Mae or Freddie Mac.
Additional rules and restrictions for non-residents
Tax rules also apply to properties owned by non-U.S. citizens. For instance, if a non-U.S. citizen rents out the property purchased to generate income, then that income must be reported and taxes must be paid both in the United States and in the property owner’s home country, says Bruce Ailion, a real estate attorney and Realtor with Re/Max Town & Country in Atlanta. In addition, non-U.S. citizens are liable for paying local property taxes.
And when selling a property in the United States as a non-U.S. citizen, capital gains tax will typically apply as well.
“When selling a property in the U.S. there are special withholding provisions that must be complied with,” says Ailion. “A tax advisor with specific knowledge in international tax should be consulted.”
On the plus side, all Fair Housing Act, Title VII, and other anti-discrimination protections apply to real estate transactions involving non-U.S. citizens. These laws are in force no matter who the buyer is, says Michels.
Final word on non-resident home purchases
It is entirely possible to purchase a home as a non-U.S. citizen — whether you’re a foreign national or a permanent or a temporary resident. There are no limitations on the type of property that can be purchased or how the property is used. Furthermore, U.S. laws that protect the rights of all homebuyers cover non-U.S. citizens and non-residents as well.
What’s really more significant, in terms of complications, is not a person’s citizenship, but their place of residency. If you don’t live in the U.S., buying a home does get more difficult — especially if financing is going to be needed for the purchase.
Non-residents must be prepared to deal with additional complexities, including more extensive documentation requirements establishing their identity, income and assets. They are limited to certain types of loans or mortgages, ones not backed by the primary mortgage market-makers. But the path to U.S. homeownership is certainly not blocked — it just may have a few speed bumps on it.
Perhaps unsurprisingly, it didn’t take long for a castle in Georgia to find a buyer. The fanciful space is currently pending sale.
In fact, the first person who saw the Oakhurst Castle in Decatur, GA, put in an offer on the 116-year-old property. The home—a real standout in its suburban Atlanta neighborhood—is listed for $1,335,000
“It’s in an area that’s full of 1920s bungalows interspersed with new construction, and then you’ve got this castle-looking building on a corner lot that just doesn’t look like anything else,” says listing agent Kathleen Sickeler, with Coldwell Banker Realty. “It’s in an amazing school district and at that price point, we knew we would get offers right away.”
The current owners bought the place in 2012 for $575,000 and, as Sickeler says, did all of the necessary but “unsexy stuff” to the property—updating the electrical, replacing the plumbing, adding insulation, and other essential upkeep.
And all of their work seems to have helped attract a buyer.
“It was very turnkey—nothing needed to be done,” Sickeler says. “The potential buyer really didn’t have to do anything except just walk into this updated, modernized home that is filled with all the integrity and character of a bygone era.”
The castle was built in 1907 and, according to lore, the original owner had an affinity for English castles; so he built one for his family on a piece of property and added a courtyard and many other special touches, Sickeler notes
“His brother is said to have owned a stained-glass factory in California, hence why there’s a lot of stained glass in the property and a lot of original glass windows,” she says, adding that the large stained-glass window in the stairway has mysterious origins. “It was hanging in the home when the sellers purchased it. They made it a permanent fixture and put it in a window. Nobody knows if it came from the brother’s factory. You hear these stories that can’t be validated but seem to have been passed along generation to generation.”
There are four bedrooms and three bathrooms in the 3,318-square-foot house. The turret connects to one of the bedrooms, creating a a cozy spot.
“It’s just a beautiful, round reading nook, and everywhere you look, you see a beautiful view,” Sickeler says.
The ground floor of the turret is an open patio-seating area.
Another of the home’s unique features is the overhead painting in the kitchen. The design features a nod to the iconic “The Joy of Cooking” cookbook.
“In the skylight, you’ve got this huge hand-painted mural,” Sickeler says. “It was painted in 1992 for the previous owners, and you’ll never find anything like that in another house.”
The home also offers a detached garage with a bonus area that Sickeler calls a great hangout space.
The home’s interiors are surprisingly modern but still seem to fit with the character of a castle.
In fact, the listing agent and sellers had discussions about how to emphasize the light and bright interiors to potential buyers, who might have imagined an old castle would be dark and dusty inside.
Sickeler emphasizes that the house definitely speaks for itself.
“Once you walk in, you’ve got a beautiful amount of light coming through that stained-glass window,” she observes. “It’s such a grand foyer. It just opens up and with high ceilings. It’s just beautiful. You walk in you just feel, ahhh.”