MARKET NEWS
The cheapest house in America’s richest town is listed for $2.5M
The Real Deal Los Angeles
Atherton, California has topped Bloomberg’s Richest Places annual index for four years, but this year is unlike any other. And Atherton is unlike any other place in the country. The Silicon Valley town became the first and only community in the country where average annual household income topped half a million dollars — $525,000 to be exact — since the index started in 2017, according to Bloomberg. That’s nearly $75,000 higher than the second-richest community ... The post The ch ...
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Coronavirus is wreaking havoc on China’s landlords
The Real Deal Los Angeles
The devastating coronavirus outbreak in China is starting to take its toll on some of the country’s biggest landlords. Measures meant to curb the spread of the deadly virus have effectively put renting on pause in some parts of the country, while some short-term rental businesses are hurting without the seasonal bumps they banked on, according to Bloomberg. The outbreak is also affecting the housing market — year-over-year price growth was the slowest in January ... The post Coronavir ...
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Hot Property: The Kardashian empire expands in La Quinta
Hot Property
Kim Kardashian West and Kanye West buy an undeveloped home site in La Quinta for $6.3 million. Also: Designer Bob Mackie has new Palm Springs digs.
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Home of the Week: Pink modernist bliss in Palm Springs
Hot Property
In Palm Springs, a work of Albert Frey and Robson Chambers features aluminum screens designed by the office of Frank Lloyd Wright. Asking price: $2.995 million.
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LA judge tosses out Bruce Makowsky lawsuit against Zillow
The Real Deal Los Angeles
A U.S. District Court judge in Los Angeles tossed out a lawsuit a company tied to Bruce Makowsy filed against Zillow, ending for now a legal battle over the developer’s fabled “Billionaire” spec mansion. Judge Otis D. Wright dismissed with prejudice 924 Bel Air LLC’s claim against Zillow for negligence in a written ruling handed down this week. The Makowsky-formed LLC claimed in a lawsuit filed last February that Zillow damaged the sales value of ... The post LA judge tosses out B ...
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Lead gen 2.0: RE/MAX app will go through agent contact lists to predict sellers
The Real Deal Los Angeles
RE/MAX Holdings is taking its latest lead generation play to the robots. The company will launch a machine-learning app exclusive to its agents on Monday that uses machine-learning to comb through agents’ pre-existing contact lists and predict who is most likely to sell their home — and tells agents when they should reach out. RE/MAX announced the app on its fourth quarter earnings call Friday. “Agents are losing patience on just ‘buying leads,’” said RE/MAX ... The post Lead ...
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