Posts Tagged ‘poll’

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Capote slept here. Does an owner’s fame impact the sale price of a home?

August 12, 2010

by Iyna Bort Caruso

This spring, a Greek Revival townhouse went on the market in Brooklyn Heights, N.Y., for $18 million. It has 11 bedrooms, 11 fireplaces, a wine cellar and a famous former tenant — Truman Capote. The author wrote Breakfast at Tiffany’s while renting a basement apartment there, and the cachet associated with the one-time inhabitant adds sheen to an already illustrious listing.

How prominently does a home with a celebrated provenance figure into market buzz? And, more importantly, how does it impact the property’s value and saleability? 

 

Potentially quite a bit, according to Jan Milligan of Sotheby’s International Realty in Greenwich, Conn. Celebrated figures can increase a property’s value. In one instance, Milligan notes a home in her area sold at a 30% premium because of the owner’s fame. “It was a very prestigious name that made a real statement,” she says. Higher visibility, however, doesn’t always translate into higher values. “Ultimately, a property’s worth is still determined by factors such as location, quality and design.”    

Greenwich is less than an hour from New York City and the territory, which ranges from horse country to waterfront estates, attracts professional athletes, film actors, recording artists, entertainers and network news correspondents. “They like it here because people respect their privacy. They feel comfortable walking around town,” Milligan says.

Understandably, many homeowners of note prefer to keep their identities under the radar when putting their houses on the market, working stealthily through attorneys or other third-party representatives. Yet despite their best efforts, news often finds its way into social columns and real estate blogs.

That was the case involving the one-time home of actress Lee Remick. She died in 1991 and her husband, the British film producer Kip Gowans, eventually put the house up for sale. Jack Largay of Sotheby’s International Realty in Osterville, Mass., represented the property, which closed in June for $4.5 million. Largay says no advertising of the Georgian Colonial home was linked to the actress, but when an article appeared in a local newspaper tying Remick to the home, it made the phone ring.

In the end it was not the Remick connection that sold the home. The individual who purchased it had an emotional attachment to the house that had everything to do with family and little to do with celebrity: the home had once belonged to his grandfather.

Read the rest of this entry ?

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Is Atlanta a “fun” place to live? (Natalie Ransom)

May 1, 2010

Are you having fun yet, Atlanta?

Natalie Ransom, Buckhead Office, REALTOR®

Natalie Ransom, Buckhead Office, REALTOR®

According to a recent study by Atlanta Business Chronicle sister publication Portfolio.com/bizjournals, Atlanta is a moderately fun city, ranking 34th out of 100 American cities.

A comprehensive formula was created to evaluate the opportunities for fun in the nation’s 100 largest markets. And according to the study, Atlanta is a great place to shop, but not so fun for those into sports and gambling.

The process began with the collection of federal statistics for 14 relevant types of businesses, from retail stores and restaurants to gambling casinos and golf courses. Each market was graded on both the volume (total number) and the concentration (rate per 100,000 residents) of such businesses.

Results were then grouped in seven broad categories of fun: shopping, food and drink, culture, popular entertainment, gambling, and high-impact and low-impact sports. The best scores went to markets that performed well in a wide array of categories.

Atlanta placed 18th for shopping, 30th for food and drink, 35th for culture, 37th for popular entertainment, 56th for gambling, 40th for high-impact sports and 42nd for low-impact sports.

The top cities for fun, in order, are New York, Chicago, Boston, Miami, Los Angeles, San Francisco, Seattle, Portland (Maine), Philadelphia and Minneapolis.

Click here to see the full interactive list of cities.

Read more: Portfolio.com: Atlanta a fairly fun city – Atlanta Business Chronicle:

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Most Americans Say Now Is Time to Buy a House: Poll (Charles Gerrick)

April 6, 2010
 
 

Charles Gerrick, Buckhead Office , REALTOR®

Charles Gerrick, Buckhead Office , REALTOR®

Submitted by Charles Gerrick of Atlanta Fine Homes Sotheby’s International Realty. Taken from cnbc.com

Nearly two-thirds of Americans think the time is right to buy a house, with a majority believing prices will be the same or higher over the next year, according to a Fannie Mae survey released Tuesday.

 The 64 percent that said it is a good time to buy is just shy of the 66 percent that said the same thing in 2003 as the U.S. housing market was racing higher, said the survey.

However, most of the 3,451 polled said that it would be tougher for them to get a loan than it was for their parents.

The survey comes amid signs that the U.S. housing market is recovering after suffering the worst downturn since the 1930s.

But, while home prices in some regions are rising, soaring delinquency rates across the nation mean foreclosures will keep persistent pressure on the market, according to analysts.

Fannie Mae, the largest U.S. mortgage finance company, said that the public still “strongly believes” in upholding their financial commitments, though that weakens once people know someone who is defaulting.

Those who know someone in default are more than twice as likely to have seriously considered stopping payments on their own mortgage, Fannie Mae said.

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