Tag: total

Luxury housing market inspires ‘total frenzy’ in vacation-home boom towns like Aspen, Palm Beach and Lake Tahoe

In the third quarter, luxury home sales jumped 41.5%, the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer, the message across the company was the same: their respective markets are crazy right now.

“What we’re seeing here in Palm Beach is a total frenzy,” Dana Koch, a sales associate with Corcoran Group, the Koch Team in Palm Beach, told HousingWire. “I’ve had many conversations with clients of mine from late April through early July, the margin was total pandemonium. And, since early July to now, it’s just getting very busy.”

A recent report from Douglas Elliman and Miller Samuel revealed that the average home price in Q3 in Palm Beach was $7 million. Contracts during this time also skyrocketed 62%.

While the Palm Beach market has not seen a lot of bidding wars, Koch said that a lot of the inventory has been absorbed and properties are getting multiple offers.

Since it’s a summer destination, Palm Beach’s busy season for home-buying starts on Nov. 1, and runs through May 1. Koch said that since this summer — typically the home-buying off-season — was busy for buyers, he thinks it will only get crazier.

“We normally average roughly like $200 plus million on an annual basis, and during the first three quarters, we’ve sold $350 million worth of real estate,” Koch said. “So it’s been a crazy year. It’s been a very profitable year.”


NAMB leads brokers in advocating for consumer data privacy

The National Association of Mortgage Brokers has been advocating for mortgage brokers for almost 50 years. We spoke with NAMB’s President and NAMB’s lobbyist about the organization’s past and current legislative efforts.

Presented by: NAMB

Over where the weather is colder, Steven Shane, a Compass real estate agent in Aspen, Colorado, said that buyers are coming from all over Texas, Florida, New York and California.

Shane said that schools in Aspen have increased their enrollment, as families are putting their roots down where they can have more space.

“I think that there’s a lot of people who rented, put their kids into school, and now, interest rates are so low, if you think about it, it makes a heck of a lot more sense to buy something than to pay rent,” Shane said. “So a lot of the people who came here initially may have rented just to get a place and now are looking to buy a home.”

From hiking to skiing and fishing, Shane said that people want to be able to get out and be able to stretch their legs if they’re working from home, and they can do that in Aspen.

“People learned that they can work from anywhere,” Shane said. “For the most part, people can work remotely, and their children might be attending school remotely. So why not be in Aspen, Greenwich, Connecticut, or the Hamptons?”

Speaking of the Hamptons, as

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No one wanted to travel with me, so I went on vacation with a total stranger

(CNN) — In a year of lockdowns, flight bans and general coronavirus chaos, there are still some options for people seeking overseas adventures.

But what happens if you are the only one in your friend group willing to travel during these strange times?

That’s exactly what happened to both Josiah Burton and Therese Rocca. No one wanted to travel with them.

And so, even though they were total strangers, they decided to go on vacation together.

“I was supposed to be going to Japan with a friend, but Japan is now closed,” Burton, a 32-year-old from Iowa, tells CNN Travel. “So, I was looking for a country open to Americans.

“My friend decided he didn’t want to travel during the coronavirus, but I still wanted to go. I was originally looking at Croatia, but you needed a negative Covid test within 72 hours. Turkey didn’t have any such requirement, so I chose there.”

With no one to go with, he turned to 10XTravel, a Facebook group followed by 40,000 people that offers advice on ways to save money on the road.

“I didn’t really want to travel alone, so I posted a message in the Facebook group that if anyone’s interested in coming or meeting up, or who will be in Turkey at the same time, to let me know.”

Rocca, 36, from Denver, saw the message and responded almost immediately.

Travel buddies

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The pair took a hot air balloon ride in central Turkey.

Courtesy Josiah Burton

“I was looking for somebody to go on vacation with,” she tells CNN. “And I couldn’t get any of my friends or family members to go because of their worries about the coronavirus.

“So, I saw Josiah’s post and commented on it. He gave me his itinerary and said, feel free to message me to discuss. So, I did.”

“We talked about our travel styles, what we like to do. You know, how mellow we are, how adventurous we are. And then it coincidentally fell on dates that I had already taken off at work because I was supposed to be in South Africa. It’s closed to US citizens right now, so I had to cancel,” she says.

After the pair had a brief conversation online, Rocca decided to book the same trip to Turkey.

“She told me she was going to sleep on it,” says Burton. “But just one hour later she messaged me and said she had booked her trip with the same itinerary. That was that. From that point on we were travel buddies.”

Rocca and Burton continued to chat online in the following days to book tours, transportation and insurance.

“Then it dawned on me that I was going away with a total stranger,” says Rocca. “So, I said to him, are you sure you’re okay with some random girl you’ve never met coming along with you? And he was like: Yeah, totally fine.

“There were moments of like, God, I hope we get along because we just committed

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