New York, N.Y., ๐ฝ is a hell of a town โ and in a post-COVID world ๐, home buyers may also see it as a hell of a bargain ๐ค.
Since COVID-19 emerged as a major concern ๐ค in the first few months of 2020, the pandemic has upended the countryโs housing market in many ways. At first, health ๐จโโ๏ธ concerns fueled the digitization ๐พ of the home-buying process, with some people opting to purchase homes sight unseen apart from virtual tours ๐ฅ.
Already competitive ๐ , the frenzied real estate market in the U.S. ๐บ๐ธโan unforeseen outcome of the coronavirus pandemicโis getting even more cut throat ๐ก.
Buyers are not only facing a dearth ๐ of inventory, as the number of homes for sale has dropped to an all-time low, but at the same time, prices ๐ฒ have climbed ๐ง to an all-time high, according to a report ๐ Friday from Redfin.
Sharon Mather wanted to sell her house ๐ in Long Beach, California, ๐ but she was reluctant ๐ซ to pay the standard listing commission. During the intense sellerโs market of 2020, sheโs one of many homeowners rethinking ๐ค the wisdom ๐งโโ๏ธ of paying full freight๐ to listing agents.
After shopping ๐ around, Mather found a discount broker willing to market her house for a fee of just 1 percent, well below โคต๏ธ the 2.5 percent typically charged by listing agents.
Jimmy Buffett sure knows how to live the good life ๐บโ and make a tidy profit ๐ฐ while doing it. The "Margaritaville" ๐น singer ๐ค has sold his jaw-dropping ๐ต mansion in Palm Beach, Fla., for $6.9 million, Variety reports โ significantly more than the $4.95 million he paid for the property in 2011.
Over the past 30 years, Maral Boyadjian has built up a family ๐จโ๐ฉโ๐งโ๐ฆ real estate business consisting of eight homes ๐ก in Southern California that she and her husband ๐ฉโโค๏ธโ๐จ rent out.
"Some people spend their money on a bigger home or better car ๐ or travel ๐งณ, but we live modestly," said Boyadjian. "Whatever money ๐ต we can put together, we spend it on buying another single-family home ๐ to rent."
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