Here’s what you need to earn to buy a home in these big cities

By Kenneth Kiesnoski, via

  • Owning a home in San Francisco, San Jose or New York can really break the bank, with total costs at more than double the U.S. national median.
  • But most large cities, such as Indianapolis, are far more affordable, with median incomes more than enough to cover costs associated with typical homes.

Record-low inventory is causing home prices to rise across the U.S., so higher salaries are now required to afford monthly housing payments, according to SmartAsset.

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The ‘Amityville Horror’ house is for sale: Five bedrooms, 3.5 bathrooms and one bloody history

Authorities investigate a mass murder in Amityville, N.Y., in 1974. -

Authorities investigate a mass murder in Amityville, N.Y., in 1974. –

AMITYVILLE, NY — In 1974, it was an expensive and stately Long Island estate, nestled in a vintage-home village, with white shutters on the windows, white lattice on the side and a white sign out front that read: “High Hopes.”

But the house on Ocean Avenue in Amityville was darkened that year by a gruesome mass murder that claimed every family member there — except one.


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The £6.6 million Las Vegas villa where Michael Jackson lived until his death is up for sale

Sotheby’s International Realty via

Sotheby’s International Realty via

Nevada, USA — The extravagant Las Vegas villa where Michael Jackson once lived is on sale for $9.5 million (£6.6 million).

The 24,276 square-foot enclosed property at 2710 Palomino Lane, which is being sold by Sotheby’s International Realty, has seven bedrooms, a two-storey chapel, and an ornate fountain in the courtyard.

Jackson, who died at his Los Angeles mansion in 2009, lived in this Vegas home with his three children from 2007, according to the home’s listing on the property site Luxury Estate. Take a tour of the luxury villa here.


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Hugh Hefner’s Neighbor Just Bought the Playboy Mansion for More Than $100 Million


Los Angeles, USA — The Playboy Mansion is about to get a brand-new owner.

E! News can confirm the Los Angeles landmark has found a buyer just a few months after it was put on the market for a whopping $200 million.

“We can confirm that the Playboy Mansion is in escrow with Daren Metropoulos as the buyer,” Playboy said in a statement to E! News. “Due to confidentiality restrictions, we are not able to comment on any specifics, including what contingencies need to be cleared to close the sale.”


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Buy Michael Jordan’s House and Get Every Pair of Signature Jordans Ever

Here's how much it will cost you.

Here’s how much it will cost you.

CHICAGO, US : Michael Jordan’s Chicago mansion has been on the market since 2012 and three years later, its asking price has been chopped nearly in half—from $29 million to $14.9 million. But there’s reason to believe that the 56,000-square-foot house will be off the market soon. Luxury real estate agent Kofi Nartey, whose cinematic tours of the house have been splashed all over the internet the past couple days, tells Maxim that dropping nearly $15 million won’t just get you an unthinkably large crib, it’ll get you “a pair of every edition of signature Air Jordans in the buyer’s size.”

Now you really want it, don’t you?

The closet full of sneakers isn’t an official perk of buying this house, but if the rich bastard who writes the check wants the shoes, he’ll get them. And if he wants something else, he’ll probably get that too. “If the price is right, we can make almost anything happen,” Nartey says.

It’s kind of crazy that a property this tricked out needs pot sweeteners, but selling a seven-figure property isn’t as easy as it once was. That’s why Nartey started and produced these theatrical virtual tours. “It may seem over the top, but so is winning 6 NBA Championships and 6 NBA Finals MVPs,” he says.

Know what else is over the top? This  house. Along with all the typical trappings of a rich man’s domain — a full gym, 15 bathrooms, kitchens both inside and out — the house on 2700 Point Lane has some even more awe-inspiring amenities. For example, Jordan’s estate has a full service beauty salon (you don’t get a head of hair like this without dedication), five fire places, an island and 15 heated garage spaces.

Still, if this place sells sometime in the near future it’ll be an easy guess which feature enticed the buyer. As Mars said, “It’s gotta be because of the shoes.”

Source :



House Bidding War Won With Promise of Free Pizza

Free pizza? Now that's how you sweeten up an offer.

Free pizza? Now that’s how you sweeten up an offer.

OREGON, USA : In a bidding war for a house, the highest bidder doesn’t always win. Bids are often accompanied by letters intended to sway the seller, and some real estate agents swear there’s an art to writing a heartfelt personal letter about why you’re the right buyer for the home in question. While this tactic might seem cheesy or manipulative, it sometimes does the trick.

In the ultra-hot home market that is Portland, Ore., where homes are selling 15% quicker than they were a year ago and where it’s not unheard of for buyers to offer $100,000 over asking price, a nice letter probably isn’t going to cut it. But in one recent instance, it looks like adding a personal, very unusual touch to the bid for a home pushed the offer over the edge.

As the Oregonian reported, over Memorial Day weekend 23-year-old Johnny Barrett was intrigued with a home in southeast Portland listed for $249,000, but he assumed that there would be a bidding war and the property would sell for far over asking price. Nonetheless, he put in an offer. It was no ordinary offer: At the suggestion of his real estate agent, he sweetened his bid quite literally with a promise of free pizza for life to the seller. Barrett, you see, is part of the family that owns DeNicola’s Italian Restaurant, a local eatery where he works as a cook.

“This is the first offer I’ve written in free pizza,” the agent, Mindy Shierk of A Group Real Estate, said. “We thought, ‘We’ll try, let’s see.’”

The offer enticed the sellers to bite, in more ways than one. Once the sale is final they’ll be indefinitely entitled to one free pizza per month at DeNicola’s. Guess this shouldn’t come as too much of a surprise. Sellers in Portland may have come to expect two or three dozen offers on homes, many of them over asking price. But it’s a safe bet that not too many offers come with free pizza for life.

Source :

Property Update (19 May 2015)


Executive condo site at Choa Chu Kang Avenue 5 launched for sale |

SINGAPORE : The Housing & Development Board (HDB), as the Government’s land sales agent, on Tuesday released an executive condominium site for sale that can accommodate about 490 units.

The 99-year leasehold parcel at Choa Chu Kang Avenue 5 comes under the Confirmed List of the Government Land Sales (GLS) Programme for the first half of 2015.

The site spans 16,386 square metres and comes with a maximum gross floor area of 49,158 metres.

The closing date for the tender is June 30, 2015.



Govt releases new developer rules on show units, sales data |

SINGAPORE : Legislative changes to the Housing Developers (Control and Licensing) Act will now require developers to provide detailed sales data on a weekly basis and disclose the value of any benefits to buyers in transaction documents. For the first time, the government is introducing a new set of rules to also ensure that developers accurately depict actual housing units in their showflats.

Amendments to the Act and the new set of rules on show units under the subsidiary legislation, Housing Developers Rules, will take effect from this month to “improve safeguards and provide more information to prospective purchasers of private residential properties”, the Ministry of National Development (MND) said on Monday.

Augustine Tan, president of the Real Estate Developers’ Association of Singapore (Redas), noted that developers that are already ensuring accurate representation in their showflats “will not have any issues” with the new rules. Read more >>


Singapore hotel market to remain tough for buyers: CBRE Hotels |

SINGAPORE : The Singapore hotel market attracted robust interest from investors in the first quarter of this year but remained a challenging market for buyers, according to CBRE Hotels.

As a result, there were a limited number of deals in Q1 2015.

“Investors turned more cautious during the period and become more rational and analytical when evaluating potential deals,” said CBRE Hotels (Asia Pacific) assistant vice-president Junrong Teo in a report. “As with the broader investment market, there is a bit of a price gap at present with vendors under no real pressure to sell, although CBRE does still see some opportunities in the market.”

A single deal was recorded in Q1 2015, a related-party transaction where Frasers Centrepoint acquired Capri by Frasers at Changi City from Ascendas Frasers for US$148 million. Read more >>

As part of a joint venture partnership, GIC and Canada Pension Plan Investment Board will each own a 50 per cent stake in the mall next to Sindorim Station in Seoul.

As part of a joint venture partnership, GIC and Canada Pension Plan Investment Board will each own a 50 per cent stake in the mall next to Sindorim Station in Seoul.

GIC, CPPIB to acquire Seoul mall for S$348m |

SEOUL, KOREA: Sovereign wealth fund GIC and Canada Pension Plan Investment Board (CPPIB) will be acquiring the D-Cube retail mall in Seoul in a joint venture for US$263 million (S$348 million).

In a joint media release on Monday (May 18), GIC and CPPIB said they will each own a 50 per cent stake in the mall following the acquisition from Daesung Industires. D-Cube, which was completed in 2011, is situated next to Sindorim Station, a major transportation hub connecting Seoul with Incheon and other major metropolitan cities near the capital.

The mall will be rebranded as Hyundai Department store and will be operated by Hyundai, one of the top retail operators in South Korea, GIC and CPPIB said. Hyundai, working alongside GIC and CPPIB, will also reposition the mall to better serve the Korean retail market’s expected steady growth over the long term. Read more >>


California Home Sales, Prices Uptick for Third Month |

CALIFORNIA, USA : According to the California Association of Realtors, California’s housing market accelerated in April 2015 as the spring home-buying season kicked off with both higher home sales and prices for the third straight month.

Home sales rose above the 400,000 mark in April for the first time since October 2013 to post the highest level since August 2013. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 427,620 units in April, according to information collected by C.A.R.

The statewide sales figure represents what would be the total number of homes sold during 2015 if sales maintained the April pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The April figure was 9.2 percent higher than the revised 391,440 homes sold in March. Home sales were up 9.3 percent from a revised 391,330 in April a year ago, and the increase was the highest year-over-year change since May 2012. Read more >>