Tag Archives: residential real estate

Kevin Costner lists Aspen ranch for rent — for $36K/month

Kevin Costner may not be willing to give up his “Yellowstone” ranch in Montana, but he is saying welcome to his real-life ranch in Colorado.

The recent Golden Globe winner is renting his 160-acre Aspen estate for a colossal $36,000 per night, The Post has learned.

The property went up for rent last week.

Comprising 12 bedrooms and eight bathrooms, the spread occupies nearly 6,000 square feet.

Known as the Dunbar Ranch, it has been pegged as “the ultimate luxury retreat,” and is located just minutes from downtown Aspen.

Features of the property include 24/7 caretakers on site, a baseball field, a sledding hill, three hot tubs and the ability to sleep up to 27 people comfortably.

Costner usually rents out the home during the winter months. He last listed the property for lease in 2021.

The main house spans 5,800 square feet.
Coldwell Banker Mason Morse

The ranch spans 160 acres, and comes with stunning scenery.
Coldwell Banker Mason Morse

The kitchen.
Coldwell Banker Mason Morse

The primary bedroom.
Coldwell Banker Mason Morse

The primary bathroom.
Coldwell Banker Mason Morse

Costner, 68, purchased the land in 2000 before transforming it into the property it is today.

Amy Mottier with Coldwell Banker Mason Morse holds the listing.

Costner, plays John Dutton — the owner of the Yellowstone ranch — on Paramount.

Rumors surfaced on Friday as to whether Season 5 of the highly popular series would be Costner’s last in playing his acclaimed role.

Costner is now working on a vast four-part movie titled “Horizon,” which he is producing, directing and starring in.

The Post has reached out to Costner’s reps for comment.

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Inside NYC’s Grinnell co-op where units rarely list for sale

The Grinnell, a stately co-op in upper Manhattan, might just be the city’s best-kept secret — for now.

Replete with spacious homes, a strong sense of community and maintenance fees that are considerably less than in comparable buildings, the property stands in a sleepy corner of Washington Heights, at 800 Riverside Drive. It also rarely has openings — but house hunters and otherwise property-curious locals now have their best chance in years to become members of this exclusive, and under-the-radar, club.

In this 83-unit structure, where residents typically spend decades, there are now an unprecedented four apartments for sale. When they trade hands, they’ll mark the first sales at the Grinnell since 2020, according to StreetEasy, when only two units sold. In 2019, just three units found new owners.

The Grinnell is home to units with dazzling older-world features — such as this wood-paneled dining room inside a $1.99 million listing for unit GRI.
Hauseit
Unit GRI’s kitchen features restored original oak cabinetry.
Hauseit
Hardwood floors and moldings galore round out the features of unit GRI.
Hauseit

“I don’t recall when [four homes] were on the market at the same time,” said Bruce Robertson, 71, a long-time Grinnell resident. Robertson, also a Compass broker, represents the six-room unit 8H, which listed on Saturday for $1.59 million — its first time up for sale in 45 years. Aptly called a “hidden treasure” in its marketing description, this top-floor spread has three bedrooms, a 23-plus-foot-long great room, a windowed kitchen with the original glass-fronted cabinetry, a formal dining room with wainscoting and views of the George Washington Bridge.

One day later, according to StreetEasy, a two-bedroom spread with one bathroom — and tony touches such as picture moldings — listed for $1 million with RE/MAX Sparrow Realty.

Among the other availabilities: Unit GRI, an eight-room duplex, which now asks $1.99 million after listing for $2.2 million in April. It boasts three bedrooms and two full bathrooms. Features include French doors, a wood-paneled dining room, original oak floors and cabinetry, and mirrored mahogany doors. (Instead of a traditional listing, this home — represented by Hauseit — is an assisted for-sale-by-owner offering.)

There’s even unit 2A — a 1,800-square-foot three-bedroom with French doors, crown moldings, and bonus spaces including a library, a foyer, a maid’s room and a pantry. It listed in September for $1.35 million — and is represented by Jamella Swift of Keller Williams NYC.

The light-filled unit 2A, listed for $1.35 million, has French doors.
Keller Williams NYC
Unit 2A also has wainscoting and chic molding details.
Keller Williams NYC

Occupying a full triangle-shaped block between 157th and 158th streets — and Riverside Drive and Edward Morgan Place — the Grinnell offers homes of a bygone New York era. The smallest apartment has five rooms and measures 1,100 square feet; the largest has more than 10 rooms and spans 2,700 square feet. Built in 1911 and designed by architects Schwartz & Gross, it’s a history-rich standout with a Mediterranean-style façade, a porte-cochere entryway to an interior courtyard — and other classic interior details including hardwood floors, leaded glass transoms and 10-foot ceilings. Amenities include a gym, a bike room and a rooftop terrace.

Apart from the grande-dame glamour and million-dollar asking prices, many New Yorkers don’t know it’s a Housing Development Fund Corporation (HDFC) co-op — meaning it’s part of the city’s affordable housing stock and subject to certain income restrictions for home purchases. It’s one of the most successful co-ops of its kind, and that “has worked well to maintain the Grinnell’s large infrastructure over the years,” said Robertson.

That said, the Grinnell is the uptown early-20th century apartment building fit for savvy New York royalty who, with the proper income requirements, can act now to get a coveted deal. It’s no surprise residents end up staying put.

The Grinnell stands on a full triangle-shaped block on Riverside Drive in Washington Heights.
Stefano Giovannini
The mighty building commands views in all directions, this one looking north over West 158th Street.
Stefano Giovannini
The Grinnell dates to 1911.
Stefano Giovannini

“People who purchase in the Grinnell don’t move because it’s a wonderful place to live,” said Robertson, who’s also a former member of the building’s board and has sold 10 units in the building over the years.

Robertson has lived in a two-bedroom, one-bathroom spread with his wife, also a real estate broker, for the past 22 years. They found the apartment on a whim after getting priced out of their Upper East Side condo and immediately knew the building was special. He loves the south-facing windows, bright light, solid construction, high ceilings, hardwood floors and the quiet.

“All in all, it’s hard to encapsulate how the Grinnell is so special and how that came to be. Mostly because it truly is a community of cohesive residents, many families who’ve grown, now being replaced by young families, who care about each other,” Robertson said. “We don’t always agree about issues facing any 102-year-old landmarked building of its size and scope. But we work through them and are proud of a beautiful structure that looks and feels like living in a castle, in a bucolic-feeling area with wonderful neighbors in other comparable buildings.”

Robertson has sold nearly a number of units in the Grinnell over the years.
Stefano Giovannini
Robertson is also a 22-year resident of the building.
Stefano Giovannini
A virtually staged image of unit 8H, which Robertson represents.
Tina Gallo Photography

Other long-time residents agree it’s a building with a lovely spirit.

Bruce Kanze, 74, an adjunct lecturer at the nearby City College of New York, moved to the Grinnell in December 1977 and lived in apartment 3B. He moved to 8F in March 1982, an eight-room, two-bedroom, two-bathroom apartment, with his wife and three kids, where he’s lived ever since.

“There’s a sense of belonging to a community, and we love our neighbors,” Kanze said. He recalled fond memories of climbing the mulberry tree in front of the building and picking berries with his daughters, of setting up summer lemonade stands with them — and of crab fests with the neighbors. “We’d buy bushels and cover the tables with paper bags and see who had the highest pile of crab shells,” he added.

But another reason why people stay so long in the Grinnell is because of its HDFC title. It’s one of 1,100 HDFC co-ops in the city, where residents are shareholders and own the building collectively. The status dates to 1982 when residents successfully bought the Grinnell from the city after a campaign that included the slogan, “Buildings for People, Not for Profit.” Apart from the tony interiors and like-minded community, part of the conditions for ownership include a flip tax, which also keeps residents put. The funds from it go towards the building’s capital reserve.

Unit 8H, on the top floor, also has great exposure to light, in addition to handsome hardwood floors and moldings.
Stefano Giovannini
The kitchen inside unit 8H.
Tina Gallo Photography
The wood-paneled dining room inside 8H.
Stefano Giovannini
8H has northwest views of the George Washington Bridge.
Stefano Giovannini

In addition to the income restrictions, a real-estate tax abatement makes the maintenance less than other co-ops of comparable size and stature. By contrast, a four-room, 2,000-square-foot apartment at 116 Pinehurst Ave. will set you back $1.58 million with $3,400 a month in maintenance. Similarly, a three-bedroom co-op in the century-old Riviera across West 157th Street from the Grinnell is going for $1.79 million with $2,174 a month in maintenance. Robertson’s $1.59 million listing, for instance, has $1,448 per month in maintenance. Both unit GRI and 2A have $1,450 monthly fees, StreetEasy shows.

Wayne Benjamin, 64, an architect who bought a 1,300-square foot, two-bedroom co-op in the Grinnell in 1987 for just $85,000 — about $228,000 today — has no plans to go anywhere. He enjoys cooking in his full-sized kitchen and listening to music on his vinyl record player — or jazz on an old-fashioned FM radio with a pair of speakers. He also enjoys rare New York City cross-ventilation, as every room in the apartment has exposures — so he can open the dining room windows, which face the courtyard, and the French doors and windows in the living room across the hallway, which face the street, and enjoy breezes year-round.

But in the end, it’s the people.

“It comes down to what’s important,” Benjamin said about the pull the Grinnell has keeping him there. “There are things that you share in common with others — common concerns and interests that you come together to address. That is what creates the sense of community that can make a building or neighborhood a vibrant wonderful place to live.”

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U.S. will turn into a buyers’ housing marke in 2023, most experts say. Here’s where you’ll see the biggest declines.

Frustrated by the housing market? Housing experts say they’re expecting the market to tip back into buyers’ court by 2023, according to a new report.

Mortgage rates are approaching 7%, but home prices are only slowly coming back down and inventory is still tight compared to pre-pandemic levels.

Still, the U.S. housing market will shift in favor of home buyers by the end of 2023, 44% of 107 economists and housing experts polled by real-estate company Zillow for its Home Price Expectations Survey said. 

And 12% of these experts believed that shift will happen sooner — that is, this year.

Yet roughly 45% of experts surveyed by Zillow say buyers will have to wait, and expect the market to shift in buyers’ favor in 2024, and beyond.

All survey respondents said to expect home-price deceleration in 2023.

The U.S. housing market will shift in favor of home buyers by the end of 2023. That’s according to 44% of the 107 economists and housing experts surveyed by real-estate company Zillow.

And we’ve already seen some signs of price pressures manifesting: The median price of an existing home in the U.S. was $389,500 in August, down from $403,800 the previous month, the National Association of Realtors said.

Most of the housing experts surveyed by Zillow noted that the markets most likely to see home prices decline over the next year include pandemic boomtowns like Boise, Austin, and Raleigh; 77% of the experts surveyed expect declines in those cities. They saw a huge jump in sales amid the earliest days of the coronavirus pandemic.

Redfin, another real-estate brokerage company, also noted that Sun Belt home buyers are cancelling their home-purchase agreements at the highest rate as compared to the rest of the nation.

Most of the housing experts surveyed by Zillow noted that the markets most likely to see home prices decline over the next year include pandemic boomtowns like Boise, Austin, and Raleigh.

The markets least likely to see home prices decline over the next year include Midwestern cities like Columbus, Indianapolis, and Minneapolis, Zillow said. Only 36% of respondents expected home prices to decline in these areas over the next 12 months.

Some markets in the south are also expected to see demand hold strong, including Atlanta, Nashville, and Charlotte, the respondents added. Only 44% said declines in home prices were likely.

But for all potential buyers stuck renting as either mortgage rates or home prices makes buying a home unaffordable right now, expect rent growth to continue, Zillow said.

Zillow also expects rent growth to outpace inflation, stocks, and home values, over the next 12 months.

The typical home buyer’s monthly mortgage payment for a home priced at the median asking price has climbed $337 to $2,547 in the past six weeks alone, Redfin noted — a 15% jump.

That’s also up 50% from a year ago, when rates were at 3.01%.

Got thoughts on the housing market? Write to MarketWatch reporter Aarthi Swaminathan at aarthi@marketwatch.com

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‘An increasing squeeze on list prices.’ 3 top economists and real estate pros on the housing markets where home prices will drop the most this year

Some markets may be more vulnerable to home price cuts than others, pros say.


Getty Images

Buyers in some markets are already getting — or may soon get — some relief in the form of lower home prices, pros say. Already, in the last 4 – 8 weeks, experts have noticed downward price pressure in higher priced markets that were previously robust. (See the lowest mortgage rates you may get now here.) “These were markets where the median sale-to-list price ratio was running well in excess of 5% above list price, and examples include San Francisco, San Jose, Austin, Denver and Seattle,” says Chris Stroud, co-founder and chief of research at HouseCanary, a technology-powered national brokerage that provides residential real estate analytics.

All of the cities listed above experienced a pretty quick decline in their respective median closing prices during July and August as buyers no longer had to get into bidding wars or make offers above asking to be competitive. “Median closing prices have largely stabilized in these markets for the most part over the last few weeks now that excesses have been worked out of the system,” says Stroud. 

The markets with the highest share of price cuts in Realtor.com’s July data are mostly clustered in the Sun Belt and include Las Vegas, Phoenix, Austin, Sacramento, Denver, Portland, Dallas-Fort Worth, Nashville, Tampa and San Diego.

See the lowest mortgage rates you may get now here.

Where will we see home price cuts in the future?

Those same markets may see more declines, says Realtor.com’s senior economist George Ratiu. “As we look toward the next few months of rebalancing, we can expect these markets to feel an increasing squeeze on list prices, as seasonal trends take deeper root and buyer traffic waves from summer’s peak.”

For their part, a team of Goldman Sachs strategists said that metro areas in the west are more likely to see a price correction, and that’s “especially true for markets with low levels of housing affordability, such as Seattle, San Diego and Los Angeles.”

Longer term, price decreases will depend, in part, on where inventory increases quickly and excessively in conjunction with suppressed demand due to interest rates, experts say. “Going into the rate increase period, the majority of markets were experiencing record low inventory. This environment has so far prevented large price declines in many areas across the country,” explains Stroud, who notes that that may change.

See the lowest mortgage rates you may get now here.

Markets that saw an especially large influx of out-of-staters — places like Boise, Denver and Salt Lake City — may be more vulnerable to price drops as the shift to remote work is largely complete, says Kate Wood, home expert at NerdWallet. “It’s a double whammy for home sellers as the influx of deep-pocketed out-of-staters dries up and many local residents are now priced out. With home prices remaining high, these markets are still far from buyer-friendly, but sellers probably shouldn’t expect the bidding wars and zero-contingency offers that proliferated over the last two years,” says Wood. 

As housing markets are pulling back in the wake of higher mortgage rates, prices and inflation, some of these markets are finding they have a growing volume of lingering inventory and not enough buyers, says Ratiu. “For homeowners who are motivated to sell, the answer is increasingly an old-fashioned one – price cuts. Even as median list prices continue to advance—the result of homeowners pricing properties based on market data from months ago—growing inventory and shrinking buyer traffic are starting to put downward pressure on prices,” says Ratiu.

The advice, recommendations or rankings expressed in this article are those of MarketWatch Picks, and have not been reviewed or endorsed by our commercial partners.

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Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties

Jack Cronin found San Francisco-area homes too expensive or too far from the city center to buy when he lived there in 2020. The tech worker still wanted a piece of the hottest housing market of his lifetime, so he started looking farther afield.

Last year, the 28-year-old used a website called Roofstock, which provides listings and data for investors interested in rental properties, to buy a three-bedroom home outside Jackson, Miss., for $265,000. Mr. Cronin, who now lives in New York City, has never visited Jackson nor met the tenants in his home, lightly landscaped with bushes and crepe myrtle trees. It’s enough to know that a management company collects $2,300 a month in rent for him.

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Home prices plunging in ‘pandemic boomtowns’ as market slumps

Homeowners in markets that boomed when the real estate sector was red-hot during the COVID-19 pandemic are now forced to slash prices due to dwindling demand, according to data released Monday by Redfin.

Across the US, 21% of home sellers dropped their asking prices in July – the highest share since Redfin began tracking the metric in 2012, according to the firm. The shares of homes with price drops in July compared to one year ago increased in 94 of 97 metro areas surveyed.

The trend was at its worst in “pandemic home-buying boomtowns” such as Boise, Idaho, where a whopping 69.7% of homes for sale slashed listing prices in July. Other overheated markets included Denver, with a 58% of price drops, and Salt Lake City, with a 54.8% share of cuts.

“Individual home sellers and builders were both quick to drop their prices early this summer, mostly because they had unrealistic expectations of both price and timelines,” Boise-based Redfin agent Shauna Pendleton said.

“They priced too high because their neighbor’s home sold for an exorbitant price a few months ago, and expected to receive multiple offers the first weekend because they heard stories about that happening,” Pendleton added.

Salt Lake City is among the most overheated markets.
Getty Images

The US housing market has cooled considerably in recent months as the Federal Reserve tightens monetary policy to address rampant inflation. Mortgage rates have surged above 5%, nearly twice as high as they were in January.

The spike in mortgage rates has compounded an affordability crisis for prospective buyers contending with the effects of inflation on their budgets as well as sky-high home prices. The trend has sapped demand and left sellers with little choice but to dial down their expectations.

Other metro areas with a share of home price cuts above 50% included Tacoma, Wash.; Tampa, Fla.; Sacramento, Calif.; Indianapolis, and Phoenix, according to Redfin.

Overall, home sales fell by 19.3% in July compared to one year earlier, Redfin’s data showed. Activity has reached its lowest point since the start of the COVID-19 pandemic. Sales have declined for six straight months.

The housing market is in the midst of a downturn.
Getty Images/iStockphoto

“Some prospective homebuyers were sidelined because they were priced out of the market; others were wary of potential home-value declines in the near future,” the firm said in a release.

As The Post reported, Ian Shepherdson, the chief economist at Pantheon Macroeconomics, said in a note to clients last week that the market’s slump is “still nowhere near the bottom, especially for prices.”

“The bottom is still some way off, given the degree to which demand has been crushed by rising rates; the required monthly mortgage payment for a new purchaser of an existing single-family home is no longer rising, but it was still up by 51% year-over-year in July,” Shepherdson said in a note to clients.

Credit rating agency Fitch has also warned of a looming decline, projecting that prices could eventually fall by up to 15% in the event of major housing slump.

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Our $3M dream home is unfinished thanks to COVID price surge

What does it really cost to build a dream home? These days, it’s a lot of time, major headaches and many dollars above the initial budget — all thanks to forces out of the homeowners’ control.

In 2018, couple Carrie and Nate LaChance — the former of whom is an Instagram model with 1.1 million followers — moved to the Dallas area from Orlando and purchased a lakefront lot of land for $260,000. Their goal: to build a $3 million “Castle” home whose construction began in 2020, and whose process Carrie documented on Instagram — such as its groundbreaking and the selection of a dazzling 24-karat gold sink. They even hoped to fit a gym and a movie theater inside.

The Washington Post reports that four years since its inception, the couple’s home still isn’t finished. Thanks to a bevy of challenges, including pandemic-era labor shortages and supply-chain snafus — and not to mention Russia’s invasion of Ukraine — the home neither has its sheath of “Silver Mist” blue sandstone nor its windows, and the costs have swelled by hundreds of thousands of dollars. Wood and nails, for instance, cost more than anyone had anticipated. What’s more, they took out an extra $100,000 last fall for unexpected costs; by the end of the year, those funds ran dry.

Carrie and Nate LaChance set out to build their Dallas-area dream home, until multiple factors from COVID and Russia’s war on Ukraine keep their dream of living there on the horizon.
The Washington Post via Getty Images
To this day, the Castle remains unfinished.
The Washington Post via Getty Images
The couple has faced swelling costs and doesn’t know when they’ll be able to move in.
Facebook
Carrie is an Instagram model with more than 1 million followers.
Instagram /@carrielachance

“It was like a chain reaction,” Joshua Correa, the LaChances’ builder and owner of Divino Homes, told the outlet. “Everybody started charging more — for everything.”

Correa added that building a basic home used to take five months — now it’s at least double that — and he needs to book workers weeks ahead, among other reasons, to pour concrete. Another nuisance: he told the Washington Post that the couple’s lumber planks needed for the Castle’s wooden framing required the wood to be ordered three months in advance.

The paper notes that lumber in particular has faced awful supply-chain issues during the bulk of COVID, with Correa saying prices for lumber have nearly doubled since 2020. Adding insult to injury, higher gas prices, especially since Russia invaded Ukraine.

Garret Cockrell, whose Big D Lumber supplied the couple’s wood, told the outlet that during COVID he got 100 calls each day from contractors trying to get a hold of wood products. He was forced to turn new clients away — and his costs have doubled, especially with regard to fuel costs.

The prices have trickled down to the LaChances. Their initial budget for lumber was $105,000; as of June 2022, that sum has soared to $177,000. 

Joshua Correa has felt the crunch of supply-chain issues and a labor shortage — and it’s trickled down to his clients, the LaChances.
The Washington Post via Getty Images
When Carrie moves in, whenever that day comes, she wants to watch “Game of Thrones” in the home theater.
Instagram / @carrielachance

Meanwhile, the cost of the Silver Mist stone was originally projected at $27,500 — in June, the cost grew to $39,000. But with delays, the stone, which was sourced from a quarry in Oklahoma that’s struggled with labor shortages itself, still hasn’t been installed along the outside of the structure.

Appliances have added an extra dose of bother, due in part to vendors dealing with chip shortages making household staples more difficult to get. For instance, the couple ordered their refrigerator in September 2021 — and it won’t reach them until March 2023. They had a total initial budget of $65,000 for their needed appliances, whose sum reached $78,000 two months ago.

There’s no word on when construction will wrap on the home, whose structure is marked by several turrets, but the couple stays hopeful — and the construction remains ongoing. Carrie herself noted that, after so much time in construction, design plans have changed. That includes going to a gold color scheme from a white one.

“The longer you think of stuff you think, ‘maybe I want this inside,’” she told the paper.

 Still, the couple told the paper they already know what they’ll do their first night there: a “Game of Thrones” marathon in their home theater.



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Dustin Diamond’s abandoned, trashed house finally sells after 2 years

Six months before Dustin Diamond passed away in February 2021, he was forced to put his longtime home in Port Washington, Wisconsin up for sale after a bank threatened foreclosure for unpaid dues.

More than two years later, on May 27, 2022, it finally sold for $276,400 to a real estate developer with plans of tearing down the structure and turning it into some type of commercial property, The Post can report.

As to the exact plans of the land, that remains unknown. The Post has reached out for comment.

Best known for his role as Screech Powers in “Saved By the Bell,” Diamond owed $269,326 to Wells Fargo, records show. He had initially put a $68,000 down payment on the home back in 2003 when he purchased the four-bedroom property for $340,000.

Dustin Diamond’s longtime, and abandoned, home has sold after two years on the market.
Mesoloras Group, Golden Oaks Realty; Getty Images; TikTok
The property is made up of four bedrooms and four bathrooms.
Mesoloras Group, Golden Oaks Realty
The home spans 3,000 square feet.
Mesoloras Group, Golden Oaks Realty
One of four bedrooms.
TikTok; @ashwill88
One of four bathrooms.
TikTok; @ashwill88

Before his death, Diamond revealed in an interview with TMZ he didn’t understand how he owed such a huge sum and that a busted water main had flooded his basement and made him lose 30 years of memories.

“Foreclosure means nothing when a house is destroyed … with my items I’ve lost,” Diamond said at the time. “It now feels like Wells Fargo is trying to kick me when I’m down.”

On Feb. 1, 2021, Diamond lost his battle to extensive stage four colon cancer only a month after his diagnosis. He was 44.

The home, which spans 3,000 square feet and is situated on half an acre, has since glided on and off the market until its recent sale. Only exterior photos of the home were included in the previous listing with the description: “great rehab project.”

The office.
TikTok; @ashwill88
The expansive terrace.
Mesoloras Group, Golden Oaks Realty
The house sits on half an acre of land.
Mesoloras Group, Golden Oaks Realty

“Property has been vacant for over a year,” the listing description continues. “Great for investor or handyman owner.”

Now, for the first time since his death, two viral videos take viewers inside the home, which paint a very shocking picture of Diamond’s life.

Described as a hoarder’s den, extensive clutter throughout the video is shown in the office of the home — and in one of the bedrooms and bathrooms of the property.

Clothes are scattered, several bottles collected, medicine and pill bottles are seen throughout on the bathroom sink and tub, and what appears to be feces on the bathroom floor.

It’s unclear if the abandoned house was vandalized or even faced squatters in the time since his passing, or if this was the state Diamond left the home in.

“Honestly this is exactly how I expected Screech to live after high school,” one user joked.

“That’s so sad, is it really his? Did he really live like that?” another user questioned.

“He was our neighbor in Port Washington but he rarely left his home,” another user claimed in the comment section of the video.

According to Ashley — who gave a tour of the home —  the video was recorded back when the house was still on the market. Her realtor had taken her inside to view the property.

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Here’s why Americans think now is the time to buy a home

Despite the crush of inflation, rising mortgage rates to battle and the ongoing woes of rising rent, a new study shows that, hey, maybe there’s some reason for optimism?

Some six in 10 Americans, or 56%, believe that “right now” is the time to buy a house, according to the study, conducted by OnePoll on behalf of the fintech mortgage lender Lower. The survey compiled responses from 1,000 homeowners and 1,000 renters, finding that 55% of respondents claim ongoing record-high inflation has made them want to buy a home even more.

Specifically, 47% of that group said they aim to get one in the next year. The bulk of that individual sample, 74%, add that it would be their first time buying a house. Just 26% are existing homeowners who want to get something else.

Just more than half of the participants — 51% — said they see homeownership as an investment opportunity toward financial freedom, while 50% said they want to get their foot in the door of homeownership before appreciation rises more. Others with their eyes on their golden years — 42% to be exact — said they want to live comfortably in retirement. (Of the total pool, 41% admitted to feeling bored in their current residences, and 41% aim to get a home for their growing family.)

It may not seem like the best time to buy a home, but a number of Americans still want to.
Getty Images

“Homeowners have gained tens of thousands in equity over the past few years. This is money renters have left on the table,” Lower co-founder and CEO Dan Snyder said in the report. “A lot of people are waiting until prices cool off, but the reality is, they’ll just slow down from their record-breaking pace. Now is the time to buy before appreciation continues to climb.”

Of the study’s pool, 30% felt optimistic that the housing market will cool off in the next year — while 43% saw the “very” concerning status quo continuing, while 25% believed things will take a turn for the worst.

The survey polled 1,000 homeowners and 1,000 renters.
Christopher Sadowski
The main findings of the study.
OnePoll / Lower

And though headlines of the housing market cooling off are making their way through the media, 45% of the poll’s participants said the boom — and the high demand that came with it — is actually getting even hotter. (Just 10%, meanwhile, thought the boom has slowed down.)

For the 1,000 renters, 56% of them said they want to move but can’t afford to. Among them, 27% pay $2,001 to $3,000 per month, 20% pay between $1,001 and $2,000 — while 16% owe $3,001 to $4,000 per month. Still, 57% of those 1,000 polled hoped to own their own homes one day. Their reasoning included financial stability — 40% — and the chance to gain financial freedom, for 35%.

“It may seem daunting, but it doesn’t have to be,” Snyder added. “Find a real estate agent and a lender who value the customer experience by creating a certain, simple process. They’ll help you along the way and your biggest worry will be finding the perfect home.”

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Soho’s cheapest apartment selling for $250,000—with a catch

This tiny house could be Manhattan’s biggest bargain — if you can stand to live there.

A 603-square-foot “one-bedroom” condo on Prince Street in Soho is going for $250,000, the cheapest listing in the neighborhood, where the average asking price for a one-bedroom is $1,962,452. The next cheapest Soho listing is $630,000.

Situated on one of Soho’s most desired blocks, the basement dwelling is just steps from Dominique Ansel Bakery, Chanel and restaurant The Dutch, where a 28-day dry-aged ribeye goes for $165. The “generously sized” property has been on the market for just nine days and is already fetching offers over the asking price, said Kane Manera, the salesperson for Corcoran Group, which is handling the listing.

“I have around 40 offers and I’d estimate 20 are well over asking, with too many inquiries a day to count,” Manera told The Post, declining to give any further details.

The basement unit in 195 Prince Street, a coveted block in Soho, is up for grabs at just $250,000. But it’s in need of some serious upgrades.
NY Post photo composite
Not exactly a traditional chef’s dream, the kitchen comes with the essentials, including a single bulb overhead.
Courtesy of Corcoran Group

“For a one-bedroom condo in Soho, $250,000 with an ask of $414 per foot is absolutely unheard of,” said Liz Schwartzberg, a broker at rival real estate agency, Compass.

But 195 Prince Street #1LL is no lavish loft.

The property boasts an “authentic & original lower ground space untouched since the 1970s,” according to the listing’s description, which may be an understatement.

Though this space fits a mattress, it’s technically the living room, complete with “industrial features,” according to the listing description of the space.
Courtesy of Corcoran Group

Paint is peeling off doors and floors, and “industrial features,” such as exposed pipes and lights, cross through the entire space. The bathroom is tucked into a closet, just two small windows are positioned at either end, and the bedroom is so narrow, the previous occupant appears to have slept on a mattress in the living room, facing the open-plan kitchen.

According to the listing, 195 Prince features a “common courtyard” that “culminates an efficient use of space.”
Courtesy of Corcoran Group

As for amenities, there are only two: pets are allowed and the “common courtyard,” an outdoor space where residents on the upper floors likely dump their trash before the bi-weekly pickup.  

Buyers looking for a one-bedroom downtown pad said they were intrigued by the listing — until they clicked on it.

“This extremely low price obviously jumped out at me,” said Phil Toronto, a 35-year-old venture capitalist. But “looking at the photos of the unit, I immediately lost interest. This place literally looks straight out of a movie in a bad way. I’m pretty sure this is where I’d be held if I were Liam Neeson’s long lost son in ‘Taken 4.’ Is that a steam pipe in the middle of the living room?” 

195 Prince Street is a five-story residential building erected in 1920. The lower level unit has not been updated since the 1970s, according to the listing.
Google Maps

Eli Goodman, a 28-year-old consultant, felt the same. “I knew going into this search that finding an affordable one-bedroom in the city would be difficult, but I didn’t realize that my options would be meth dens or having dead bodies for roommates at this price point.” 

Laura Lapitino, a 30-something luxury publicist who has been hunting for a downtown home for six months, said “while $250k is by far the absolute lowest price I’ve seen for an apartment in the neighborhood, I seriously question if the place is even remotely liveable.”

With just over 600 square feet of space packed into a long and narrow unit, the basement apartment has one bedroom and eight-foot-tall ceilings.
Courtesy of Corcoran Group

The apartment’s listing concludes with one final selling point: “As unique as New York, a property like this must be seen to be believed.”

Toronto said he might view the property out of “morbid curiosity,” but he’s unlikely to make an offer. “It’s just gross.”

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