New York, N.Y., š½ is a hell of a town ā and in a post-COVID world š, home buyers may also see it as a hell of a bargain š¤.
Since COVID-19 emerged as a major concern š¤ in the first few months of 2020, the pandemic has upended the countryās housing market in many ways. At first, health šØāāļø concerns fueled the digitization š¾ of the home-buying process, with some people opting to purchase homes sight unseen apart from virtual tours š„.
Already competitive š , the frenzied real estate market in the U.S. šŗšøāan unforeseen outcome of the coronavirus pandemicāis getting even more cut throat š”.
Buyers are not only facing a dearth š of inventory, as the number of homes for sale has dropped to an all-time low, but at the same time, prices š² have climbed š§ to an all-time high, according to a report š Friday from Redfin.
Sharon Mather wanted to sell her house š in Long Beach, California, š but she was reluctant š« to pay the standard listing commission. During the intense sellerās market of 2020, sheās one of many homeowners rethinking š¤ the wisdom š§āāļø of paying full freightš to listing agents.
After shopping š around, Mather found a discount broker willing to market her house for a fee of just 1 percent, well below ā¤µļø the 2.5 percent typically charged by listing agents.
Jimmy Buffett sure knows how to live the good life šŗā and make a tidy profit š° while doing it. The "Margaritaville" š¹ singer š¤ has sold his jaw-dropping šµ mansion in Palm Beach, Fla., for $6.9 million, Variety reports ā 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 šØāš©āš§āš¦ real estate business consisting of eight homes š” in Southern California that she and her husband š©āā¤ļøāšØ rent out.
"Some people spend their money on a bigger home or better car š or travel š§³, but we live modestly," said Boyadjian. "Whatever money šµ we can put together, we spend it on buying another single-family home š to rent."
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