By NICOLE MURRAY
California continues to dominate the luxury homes market, but that could change as communities fight for the country’s wealthiest individuals.
In a recent Point2Homes.com study, analysts looked at which cities in the United States have the highest share of luxury homes worth at least $1 million for sale. Results were categorized by large, mid-sized, and small cities.
They found that listings above $1 million make up around 64% of the for-sale market in Los Angeles.
LA also led the ultra-luxury sector, with almost 12% of its homes priced above $5 million.
Glendale (66%), Huntington Beach (63%), and Oxnard (43%) in California were found to be the three most luxurious mid-sized markets with high percentages of the homes…
By NICOLE MURRAY
Successful malls are offering more than a little retail therapy these days.
Shopping malls across the country have been forced to pivot their business strategies as inflation rates spike, retail spaces become vacant, and e-commerce grows in popularity.
Experts say malls have performed differently depending on their class.
According to Kelly Mangold, principal at RCLCO Real Estate Consulting, class A malls with exclusive, high-end luxury retailers with few vacancies have continued to perform the best.
“Malls tend to be successful when they are transformed into a one-stop shop for high-end goods that people cannot get anywhere else nearby,” Mangold said.
Class B malls, whose success relies on their anchor retailers, have struggled because, “their level of business…
By NICOLE MURRAY
Bidding begins this week on a historic castle in Waco, Texas, that was renovated by “Fixer Upper” stars Chip and Joanna Gaines.
Back in 2019, the dynamic duo began renovations on Cottonland Castle and documented their progress on their show “Fixer Upper: The Castle,” which aired in 2022.
“This castle is one of the most impressive properties in the entire Waco, Central Texas, area, and I’ve wanted it for two decades now. The plan for the castle is to bring this beautiful property back to its original state,” Chip Gaines said in a trailer for the program.
The show highlights the couple’s successes and struggles.
“One of the biggest things is, ‘How do we make this feel…
By NICOLE MURRAY
There have been 1.3 million cases where loss mitigation options have helped borrowers remain in their homes since the start of the Covid-19 pandemic, according to officials at the U.S. Department of Housing and Urban Development.
A few common tools available through these home retention programs include a loan modification, forbearance agreement, or repayment plan.
However, some of these resources that once were effective in avoiding foreclosures now result in little to no reductions in monthly mortgage payments due to spiking interest rates.
As a result, a new proposal is being offered by the Federal Housing Administration, so borrowers have a potentially more effective option to avoid foreclosure. This tool is called the Payment Supplement Partial Claim.…
