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Tuesday, June 7, 2016

Want to be happy you live in VA? Look at what $1 million gets you in the most unaffordable U.S. cities

San Fran: 

If you’re looking to blow $1 million and don’t care much about space, this one bedroom apartment in San Francisco will fit the bill. It’s close to public transportation, which you’ll probably need after spending so much money to live in the city. However, if you still manage to hold onto your car, garage parking is available at the complex. No pets are allowed in the building and a maximum of two people are allowed to live in the unit — after all, it is just a one bedroom, one bathroom, 696 square foot space. There are no washer and dryer connections, but there is a laundromat in the building. You’ll have to pay to wash your clothes there, but at least you won’t have to haul everything around town to do the wash.


This $1 million condo includes two bedrooms, two bathrooms, 884 square feet, and some decent amenities. In addition to a walk-in closet, this apartment comes with a washer and dryer, small balcony, and close proximity to Cooper Park. The Zen Garden is a community feature, as is the fitness center, heated indoor pool, and Jacuzzi. The features in the unit aren’t outstanding or even worth noting, but the community itself has nice amenities.

Yes, this is a terrible value that’s unaffordable for most people, but New York is one of the most expensive cities to live in worldwide. It’s not a shoe box and the neighborhood is relatively safe, so all things considered, this Brooklyn condo isn’t too bad.

Miami, Florida:

The exterior of this Miami house could use a facelift. The interior needs some updates as well. Still, if you want to live in a Miami home that’s not an apartment or condo, and you’re not worried about having a spacious lot or living in a great neighborhood, this $1 million dollar residence could be perfect for you.

The house has three bedrooms, two baths, and is 1,287 square feet. There’s tile flooring in the house — no word on how long ago that was installed — as well as central air conditioning. There’s no garage, but a few standard appliances are included. No, the appliances are not top of the line.

The most interesting thing about this house is that it last sold in 1993 for $59,900. Not much has been done with the property since then and the area isn’t spectacular, which proves one thing: Miami real estate is over valued, unaffordable, and definitely doesn’t provide much bang for the buck.

More at Housely.

Friday, February 19, 2016

Michelangelo’s Tuscan Villa For Sale

The deeds to Michelangelo’s old Tuscan villa, a three-structure complex complete with Renaissance-age fixtures, functional wood-burning fireplaces, and an olive grove, could be yours for just $8,369,602.

The nearly 13,000-square-foot property known as La Torre de Michelangiolo has been on the market since July 2014 but was only advertised on an international scale last August on Handsome Properties. It’s curious that no millionaire has jumped on this opportunity yet, as the property seems pretty sexy — and eight million dollars doesn’t seem terribly outlandish for bragging rights to owning the former home of one of the Renaissance’s most famous artists, right?

Originally built as a fortification, the property was purchased by Michelangelo in 1549, three years after the Pope appointed him architect for St. Peter’s Basilica. The artist had written a letter to his nephew Leonardo asking him to help him find a reasonably priced property ten or 15 miles away from Florence. He purchased the villa for 2,281 florins (roughly a little over $319,340 today), and it remained in the Buonarroti family until 1867, after which a number of Italian families have resided in it. Its current owner, the Busoni family, has lived there since 1973 and are now seeking a prospective owner who understands the history of the property and will respect it as they did, according to realtors.

Lots more information, floor plans and photos at HyperAllergic.

Thursday, February 11, 2016

Here are the 12 US markets with the most vacant homes

Interesting - here's Business Insider:
Tfairly strong, but in some cities there are a lot of properties sitting empty.
he housing market may be
According to RealtyTrac, a real estate research firm, 1.6% of the 84 million residential properties in America are sitting empty.
We've gone over RealtyTrac's data and found the 12 housing markets that have a vacancy rate of at least 3%.
None of them, of course, are anywhere near Northern Virginia. The top two are in Michigan, in Flint and in the Detroit area, respectively:

1. Flint, MI
Number of Vacant Homes: 11,605
Total Residential Properties: 154,137
Vacancy Rate: 7.5%
2. Detroit-Warren-Dearborn, MI
Number of Vacant Homes: 81,190
Total Residential Properties: 1,539,609
Vacancy Rate: 5.3%
See the whole article at Business Insider.