Celebrity Realtor Reveals What Stars Are Looking for in a Home

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Cosmetics guru Jeffree Star relocates to Wyoming after selling Hidden Hills estate

Makeup guru and YouTube celebrity Jeffree Star has exited his Hidden Hills estate to move to Casper, Wyoming, where he will live part-time, raise a herd of 150 yak and produce yak jerky. The androgynous owner of Jeffree Star Cosmetics sold his seven-bedroom, 13-bathroom mansion at 25220 Walker Road for $16.7 million, or $854 per square foot on July 29, according to Zillow. The property has nearly 20,000 square feet. The closing price came in 7.7 percent greater than the asking price of $15.5 million. The buyer, represented by Yewmeng Lee of Global Homes Network, was not identified. Star was represented by Aaron Kirman of Compass. The road to the deal’s closing was something of a roller-coaster ride, Kirman said. There were three offers. The house went into escrow with the first buyer. Then that buyer renegotiated the deal for less than the ask and requested extensions on the escrow. The two other buyers made offers above the asking price. Kirman did not detail which deal that prevailed, but he said it ranked as the best. “Money and terms always talk. This buyer was ready to go the distance and offered the cleanest terms,” he said. Star’s former home is situated on 2.8 acres and features two guest houses, a garage which can house more than 10 cars, and in a nod to Star’s new vocation, a barn. The primary residence was built in 2010 in a style reminiscent of a mansion in France’s Normandy region. Star reportedly did some minor renovations, Kirman said. Amenities include a wine cellar, which features a speakeasy-style bar, a home theater and a two-story gym. In terms of comps, 5521 Paradise Valley Road in Hidden Hills has about 15,000 square feet and was listed for $27.4 million, or $1,870 per square foot in January. The listing was removed in July. A recent Hidden Hills deal featured L.A. Rams quarterback Matthew Stafford’s off-market sale of a 15,000-square-foot mansion located at 24200 Hidden Hills Road. Stafford unloaded the listing for $21 million, or about $1,400 a square foot.. https://therealdeal.com/la/2022/08/04/cosmetics-guru-jeffree-star-relocates-to-wyoming-after-selling-hidden-hills-estate/

Paycheck potential: A look at real estate’s top earners

From up-and-coming dealmakers to rulers of the REITs, here's how much different industry roles can pay Clockwise from bottom left: Howard Lorber, Bob Sulentic, Steve Roth, Anthony Malkin, Robert Reffkin, Tami Pardee, Marc Holliday, Zach Vichinsky, Cody Vichinsky, Hamid Moghadam, Leslie Hale, Howard Lutnick, and Sabrina Saltiel (Photo-illustration by Paul Dilakian/The Real Deal) As much as real estate loves its greenbacks, people tend to keep quiet about the paychecks its players take home. The Real Deal sifted through the records and shook the grapevine to figure out what one can make in the business, from the bottom of the corporate ladder to the top. The median president or CEO of a real estate investment trust, holding what are among the most lucrative roles in the industry, made $5.95 million last year, according to an analysis of compensation data from 150 publicly traded firms. That’s up 17 percent from 2020, with the majority of the increase coming in the form of fatter bonuses. While CEO salaries rose just 2 percent in 2021, bonus compensation jumped 42 percent. CFOs netted almost identical increases. Prologis CEO Hamid Moghadam has become king of the REITs during the pandemic, scoring the most money of any REIT CEO or president in each of the last two years. Moghadam earned $24.9 million last year, less than the $34.4 million he pulled down during 2020, when his particular sandbox, last-mile warehouses, saw a giant boom. He can attribute the vast majority of both years’ gains to his equity bonuses; the shares given to Moghadam in 2021 were worth $22.3 million at the time they were granted, and Prologis stock jumped 69 percent last year. Stock is nice, but as retailers are now apt to say, people want experiences. Vornado executives evidently took a joyride last year, as the firm reported spending $750,000 on cars and drivers for four of its top executives. Founder and CEO Steven Roth earned $9.8 million last year, but Roth’s salary is even less fixed than most — for the last three years, he has taken 80 percent of his salary in stock, making a full 98 percent of his compensation last year tied to the REIT’s performance. Vornado shares are down about 50 percent from the start of 2019. Other big earners last year included SL Green Realty CEO Marc Holliday ($21 million) and Boston Properties CEO Owen Thomas ($12.9 million). Last year marked a return to normalcy after firms spent much of 2020 debating not just how to survive, but how to compensate their executives without creating a public relations nightmare. “Salaries in many cases were reduced temporarily, maybe by as much as 50 percent,” said Rami Glatt, a principal at compensation consultancy Semler Brossy. “The higher you paid, the more risk you were taking on.” Some executives argued that, even though the early days of the pandemic sent returns cratering, they had performed well given the circumstances and saved their companies from much worse fates. Not that salary means all that much to the real estate C-suite anyway: The vast majority of executive compensation comes as long-term equity grants that vest over years, not months. Take Anthony Malkin, Empire State Realty Trust’s CEO. While his overall compensation last year totaled $7.9 million, just $626,000 of it — less than 10 percent — came as salary. Leslie Hale made history in 2018 when she became the first Black woman to lead a publicly traded REIT. The base salary for the CEO of hotel owner RLJ Lodging Trust amounted to $840,000 last year, but she had $16.3 million in total compensation, including long-term equity. Across the board, salary accounted for just 13 percent of the median CEO’s compensation at publicly traded firms last year. To make it to the real estate boardroom, you need a stomach for risk. But even a Vegas card shark might fold if he saw those odds. As an added kink, some companies bind their execs with golden handcuffs. While exact ratios vary, most leaders are required to hold a multiple of their base salary in stock. Douglas Elliman CEO Howard Lorber, whose salary last year was $3.4 million, has to hold at least three times that amount in Elliman stock, which is down about 50 percent since its IPO on Dec. 30. Don’t feel too bad for him, though: Lorber also gets a car and driver, club membership and up to $200,000 in private jet usage. Proptech firms face particular jeopardy from stock-market declines. In order to compete with Silicon Valley for talent, some firms followed in tech’s footsteps by paying their more junior employees in stock. That’s great for the employees when the share price is high, but if the shares plummet — like just about every proptech company’s have this year — they could be left to make up for the differential between the dollar amount promised and what those shares are actually worth. Real estate firms are prone to use discretionary models to determine executive pay, which gave them options to get creative even as the pandemic upended the business. But as the economy shows signs of a slowdown, that variability can have its downsides. “If I’m a shareholder and I’m suffering, then to some extent I’m expecting you to suffer too,” Glatt said. Brokers making bank Among brokerage bosses, it’s tough to beat Elliman’s Lorber, whose compensation after bonuses and equity grants reached $32 million last year. But Compass’ Robert Reffkin knocked the competition out of the water, at least on paper. The firm’s co-founder and CEO received stock worth $89 million last year, though both he and Lorber have seen the realized values of their shares drop dramatically in the past year. On the commercial side, Howard Lutnick pulled the reward of a career in 2021. After a record year, the Cantor Fitzgerald CEO and Newmark chief received a one-time $50 million bonus, set to pay out over four years. He took home the first $20 million earlier this year, but will have to remain in his current roles as chief executive and chair to receive the remaining $30 million, broken up into three annual payments of $10 million. CBRE CEO Robert Sulentic earned just shy of $13.9 million last year, and Cushman & Wakefield’s executive chair and former CEO, Brett White, took home $19.9 million. Things are cushy in the executive suite, but back on the ground, how much does a broker bank? More than any other job in real estate, that depends on how hard they’re willing to grind. More than 150,000 Americans have become agents in the past two years, with television shows and rise-and-grind gurus painting the profession as a path to riches. But only a fraction of them will actually make a living selling homes, and even those agents face an uphill climb. Before agents can surrender half of their earnings to brokerage fees, they need listings. To get a head start and build a network, early-career agents have increasingly opted to join brokerage teams within agencies. Under a team’s umbrella, new agents still have to give a cut to the brokerage and team, but they gain steady deal flow, taking on the less lucrative listings until they have the connections to generate their own. For most, it’s anything but the “Selling Sunset” lifestyle. Commission advance firms like Ryan Serhant-backed RLTY Capital have built entire businesses on the proposition that fledgling agents often don’t have the cash they need to pay their bills or expand their businesses. As agents close more sales and hit certain levels of deal flow, they can negotiate better splits with their brokerage. If they reach the selling stratosphere, they can draw up to 90 percent, as well as perks like assistants, all-expenses-paid vacations and chauffeur services. Most agents contacted by TRD declined to discuss their splits or income, but we can still do some back-of-the-napkin math for a rough estimate. The Eklund-Gomes team at Douglas Elliman was by far Manhattan’s biggest seller last year, according to TRD’s annual ranking of New York’s residential elite. The group sold at least $492 million worth of properties in the borough, which works out to somewhere between $9.8 million and $29.5 million in commissions. If the team kept half of that after splitting with the buyer’s agent, then at a 70 percent split, that would leave $10.3 million. The team didn’t respond to a request for comment, but with operations in Florida, California and Texas, even that rough estimate leaves plenty of dough for the team’s piece of the pie. The Sabrina Saltiel team at Elliman, Manhattan’s 10th-biggest seller, closed $208 million worth of deals last year. Depending on commission percentages, that could yield anywhere between $4.2 million and $12.5 million. After the splits and the splits of the splits, Saltiel’s team could walk away with somewhere between $1.5 million and $5.6 million before marketing and other expenses. The Aaron Kirman Group, which closed at least $1.3 billion of sales in Los Angeles in the past year, topped TRD’s L.A. agent ranking. An affiliate of Compass, the Kirman Group likely generated somewhere between $20 million and $41 million in commissions, assuming a 50/50 split with buyers’ agents. At a 90 percent brokerage split, that could pencil out to as much as $36.5 million. In the same time period, Tami Pardee sold $841 million worth of L.A. properties. That could yield up to $25 million in commission before brokerage splits, assuming a 6 percent charge. Chris Cortazzo, Compass’ Malibu superseller, hit $705 million in sales last year. That could mean up to $42 million in commissions, shared with the buyer’s agent and Compass. But things could be changing, particularly for luxury agents. After selling high-end apartments at Corcoran for 16 years and founding her own brokerage, Louisa Gillen still can’t believe how much agents earn for luxury sales. At her new firm, Simple Real Estate, she plans to change that. Regardless of price tier, real estate agents generally charge between 4 and 6 percent commissions. Even in the highest price tiers, an agent on either side of the deal almost never dips below 2 percent. As the prices and commissions climb, the essential work of an agent — coordinating showings, setting list prices, negotiating deals — stays the same. Gillen and a growing crop of luxury agents, notably Zach and Cody Vichinsky of Bespoke Real Estate in the Hamptons, are radically reducing luxury agent commissions in what they call a long-overdue recalibration. Bespoke, which only sells homes valued at $10 million or more, announced it will charge just 1 percent commission for its sales. At Simple, where listings range between $900,000 and $10.5 million, Gillen caps commissions at $50,000. “At a certain price point, you are simply overpaying,” she said. Gillen recently sold a studio apartment belonging to a friend’s grandmother. The unit’s window faces a wall, and the sale took months to close after dealing with the board. Gillen says she only made $1,000 from the deal. Around the same time, she sold a $5 million Tribeca loft in what she describes as a relatively effortless experience. A neighbor in the building turned up to the first showing and bought the condo, all cash. She says selling the grandmother’s studio was a far greater ordeal than the Tribeca condo. “At that higher end, they’re meticulously done, they’re usually in the best locations, they have the best views,” Gillen said. Once you start selling the Palm Beach compounds and Central Park penthouses of the world, the difference between 1 percent and 6 percent commission can be millions of dollars. If their strategy works, sellers like Bespoke and Simple will undercut the competition, forcing others to slash their own commissions if they want to compete for listings. Ultra-luxury buyers aren’t the most price-sensitive, but they also aren’t the type to leave cash on the table. “Who’s not going to try to negotiate that as a seller?” Gillen asked. https://therealdeal.com/issues_articles/paycheck-potential/

Photos: YouTuber Jeffree Star profits on the sale of his $16.7 million California mansion

The CEO of Jeffree Star Cosmetics got roughly $2.1 million more for the property Jeffree Star, the gender-bending beauty mogul and yak rancher, has unloaded his luxury resort-style estate in Hidden Hills for $16.7 million. The sales price is 14.5% higher than the $14.58 million the CEO of Jeffree Star Cosmetics paid for the property in December 2019. Completed in a French Normandy style in 2009, the seven-bedroom, 19,549-square-foot spread has 13 bathrooms, a basement “speakeasy” bar and a two-story gym. It sits on a nearly 3-acre lot at the end of a cul-de-sac in guard-gated Ashley Ridge. Two guest houses, a 10-car garage and a barn, accessed by a separate driveway, add to the offerings. Star gave the hilltop home a glamorous redo with rich wall coverings, chandeliers and ceiling treatments. The grand foyer of the main house opens on an all-white imperial staircase with gold trim. Elsewhere a glass elevator offers an alternative way to access the upper floor, the location of the primary suite with two bathrooms and walk-in closets.

Automotive-Inspired Bel Air Mansion Is a $16.5 Million Exercise in Striking Minimalism

There’s a saying about living in glass houses and how it’s not exactly desirable, but this is one glass house that would make any car aficionado with a penchant for minimalist design happy to call “home.” Carchitecture, a newly-coined term that refers to automotive-inspired or automotive-centric architecture, is the latest “thing” in premium real estate. When money is never an issue and only certain things are deemed worthy of your attention, professing your love for cars with your newest mansion is quite a fancy way of showing off. Depending on how passionate of a car enthusiast (and how wealthy) you are, you can pick and choose among the most varied offers from developers. This property is right up there at the top: a house shaped like a supercar but minimalist almost to a fault, elegant and striking in both design and finishes, and bound to help you show off. Located in the super-exclusive Bel Air neighborhood in Los Angeles, California, this 1254 Roberto Lane property is now on the market with Kirby Gillon, Bryce Lowe and Aaron Kirman of Aaron Kirman Group at Compass, asking $16.5 million. Its highest selling point is not the fact that it’s a very new building, completed in 2022 on a design by Arshia Mahmoodi of Arshia Architects, but its striking design and exquisite styling. According to the listing, the property sits on a 10,316 square-foot (958 square-meter) lot and is a three-level building with an underground garage, a pool in the backyard and a matching sun deck on the roof. The mansion stands out for its split-level architecture, where the second level is cantilevered, offering a striking contrast and a very unusual and dynamic appearance, as well as a shady retreat. The three levels are connected through a glass-wrapped staircase and a frame-less glass elevator, because not all multi-millionaires are into walking, even in their own homes.

In Crystal Cove, a resort-style estate seeks $62 million

An ocean-view estate in Newport Coast’s Crystal Cove neighborhood is on the market for $62 million. Completed in 2020, this 14,500-square-foot home with six bedrooms, 10 bathrooms and an open floor plan has surfaced as the second-most expansive listing in Orange County—right behind a $69.8 million Palladian-style creation in the same neighborhood. It could nab the spot as the county’s top seller this year if it goes for even half the asking price. A $29.888 million Laguna Beach home with a gym that sits below a glass terrace and “peers into the transparent underwater wall of the infinity-edge pool” holds that title so far. Like that 8,140-square-foot contemporary-style home on a quarter-acre-plus lot in upscale Montage Ocean Estates, this gargantuan comes with all the bells and whistles you’d expect from a luxury home. Disappearing glass walls open onto a 78-foot triangular infinity pool with a custom glass wall. A barbecue kitchen and bar, fireside family room and lush tropical foliage add to the resort-style backyard on this nearly half-acre lot.

Coupon king wants $150 million for Bel-Air mega-mansion

It’ll take a ton of coupons to buy George Ruan’s mansion in Bel-Air. The billionaire, who co-founded the online coupon company Honey, is shopping around his 20,000-square-foot showplace for $150 million. If he gets his price, it’ll be among the most-expensive deals in Southern California history. At $150 million, it’s the third-priciest property on the market in Los Angeles County behind Michael Eisner’s $225-million compound in Malibu and the $165-million mansion known as the Manor in Holmby Hills. Even more surprising is the fact that Ruan never lived in the home. Records show he bought it unfinished for $60 million in 2020 and spent the last two years completing the estate — which explains the $90-million price jump. It was built by Saota, an architecture firm known for modern mega-mansions, and this one is no different. Perched on a 1.15-acre promontory lot, the home showcases clean lines and vast, minimalist spaces across two stories. 1/15 The exterior. (Joe Bryant) 2/15 The entry. (Joe Bryant) 3/15 The dining room. (Matthew Momberger) 4/15 The living room. (Matthew Momberger) 5/15 The kitchen. (Matthew Momberger) 6/15 The staircase. (Matthew Momberger) 7/15 The bedroom. (Matthew Momberger) 8/15 The terrace. (Matthew Momberger) 9/15 The closet. (Matthew Momberger) 10/15 The backyard. (Matthew Momberger) 11/15 The patio. (Matthew Momberger) 12/15 The pool. (Joe Bryant) 13/15 The outdoor dining area. (Joe Bryant) 14/15 The gym. (Matthew Momberger) 15/15 The 20,000-square-foot home. (Matthew Momberger) Warm woods mix with modern fixtures in the living spaces, which include a marble kitchen and indoor-outdoor dining area. Another highlight comes upstairs, where a primary suite wrapped in glass expands to a terrace. It’s one of nine bedrooms and 14 bathrooms. The backyard is made for entertaining with an outdoor kitchen, sunken fire pit and multiple cabanas. An infinity-edge pool is perched at the edge of the property, taking in views of the canyons below. The compound also tacks on a one-bedroom guesthouse with a gym and swimming pool of its own. Aaron Kirman of the Aaron Kirman Group at Compass holds the listing. Ruan co-founded Honey in 2012, and PayPal bought the popular coupon-clipping browser extension seven years later for $4 billion. The mammoth deal marked the largest acquisition of a tech company in L.A. history. https://netionaldastak.com/coupon-king-wants-150-million-for-bel-air-mega-mansion/

Here are the finalists for the 2022 Inman Golden I Club

The Golden I Club recognizes excellence in luxury real estate, and this year's finalists span from coast to coast. Winners will be honored at Luxury Connect, Aug. 2-3, 2022 Next month, Inman will honor the third class of inductees into the prestigious Inman Golden I Club. Today, following three months of public nominations and consideration by the Inman editorial team, we are announcing the finalists. Winners will be announced live on stage at Luxury Connect, Aug. 2-3, 2022 at the Aria in Las Vegas. In addition, several prestigious and extremely deserving individuals will be inducted into the Golden I Club Hall of Fame. Join us. What is the Inman Golden I Club? It’s the highest honor in luxury real estate. Golden I Club honorees will include the top luxury agents and brokers, the top luxury standout, the most innovative luxury property and new development marketing campaigns of the past year, as well as the top luxury deals in cities, near beaches and on mountains. Golden I Club 2022 Finalists Top luxury agent Paul Benson, Engel & Völkers Gestalt Group Chris Cortazzo, Compass Dina Goldentayer, Douglas Elliman Dee Dee Guggenheim Howes, Compass Lisa K. Lippman, Brown Harris Stevens Kristen Routh Silberman, Corcoran Global Living Carrie Wells, Coldwell Banker Mason Morse Real Estate Top luxury team The Alexander Team, OFFICIAL The Behr Team, Sotheby’s International Realty The Katzen Team, Douglas Elliman Aaron Kirman Group, Compass The Robinson Team, Engel & Völkers Atlanta Rayni and Branden Williams, Williams & Williams Estates Group Top luxury brokerage The Agency The Corcoran Group Douglas Elliman Engel & Völkers SERHANT. Sotheby’s International Realty William Raveis Best luxury standout Agent Image Luxury Portfolio International Luxury Presence Pacaso REALM Side Best city sale 49 Beverly Park Circle, Beverly Hills, CA, Jade Mills of Coldwell Banker Realty and Samira Gores, Christine Martin and Tiffany Martin of The Agency 220 Central Park South, New York, NY, Deborah Kern of The Corcoran Group 432 Park Avenue, New York, NY, Ryan Stenta of Douglas Elliman and Carrie Chiang of the Corcoran Group 944 Ariole Way (The One), Los Angeles, CA, Concierge Auctions with Aaron Kirman of Compass and Brandon and Rayni Williams of The Beverly Hills Estates 9904 Kip Drive, Beverly Hills, CA, Kurt Rappaport of Westside Estate Agency Best beach sale 291 Ocean Blvd. (and two neighboring properties), Golden Beach, FL, Danny Hertzberg and Jon Mann of the Jills Zeder Group of Coldwell Banker Realty, plus Pablo Alfaro of Douglas Elliman and Silverlane Realty Inc. and Eloy Carmenate and Mick Duchon of the Corcoran Group 840 Meadow Lane, Southampton, NY, Tim Davis of the Corcoran Group 2000 S. Ocean Blvd., Palm Beach, FL, Lawrence Moens of Lawrence A. Moens Associates 27740 Pacific Coast Highway, Malibu, CA, Kurt Rappaport of Westside Estate Agency Great Island, Darien, CT, Jennifer Leahy of Douglas Elliman Lily Pond Oceanfront Estate, East Hampton, NY, Harald Grant of Sotheby’s International Realty Best mountain sale 2 Aboretum Road, Asheville, NC, Marilyn Wright, Premier Sotheby’s International Realty 253 White Pine Canyon Road, Park City, UT, Paul Benson of Engel & Völkers 550 Aspen Alps Road (Tommy Hilfiger Mansion), Steven Shane of Compass 1011 Ute Avenue, Aspen, Colorado, Liz Leeds of Slifer, Smith and Frampton & REALM 45081 and 45101 Colorado State Highway 82, Aspen, CO, Carrie Wells of Coldwell Banker Mason Morse Beaverhead Ranch, Montana, Chance Bernall of Beaverhead Home and Ranch Real Estate and Joel Leadbetter of Hall and Hall Big Creek Ranch, Steamboat Springs, CO, Christy Belton of Ranch & Resort Realty Best sales and marketing campaign for a luxury property 59 Green Street, Inlet Beach, FL, The Blankenship Group, Engel & Völkers 60 Joralemon Street, Brooklyn NY, Tricia Lee and Jeffery St. Arromand, SERHANT. 113 Ocean Club, The Bahamas, Corcoran CA Christie Bahamas 3979 W. County Hwy 30A, Santa Rosa Beach, FL, Bobby J Team, Engel & Völkers 44 Ariole Way (The One), Bel Aire, CA, Concierge Auctions Best sales and marketing campaign for a luxury development Penthouse atop iconic Tiffany & Co, 259 Worth Avenue, Palm Beach, Concierge Auctions Nevins Hill, Charlesgate Realty Group, Brighton, MA The Westly, New York CIty, SERHANT. Xanadu, Westport, CT, RE/MAX Heritage Congratulations to all the finalists. We look forward to celebrating with everyone, and announcing the winners, at Luxury Connect, Aug. 2-3, 2022 at the Aria in Las Vegas. https://www.inman.com/2022/07/15/here-are-the-finalists-for-the-2022-inman-golden-i-club/

8 simple ways to add curb appeal to your home

From first dates to job interviews, first impressions matter. When it comes to selling your home, that initial glimpse of its exterior, aka curb appeal, is a big deal. In fact, according to a 2020 study done by the University of Texas at Arlington and published in The Journal of Real Estate Finance and Economics, curb appeal can contribute to up to 7 percent of the home’s selling price (and even as much as 14 percent in certain real estate markets). That’s why it’s important to put your home’s best face forward. What does curb appeal mean? Curb appeal is the way your home looks from the outside or from the street, and how attractive it is to anyone who visits or drives past. To assess your home’s curb appeal, look at the front of your home and take it in from the perspective of someone seeing it for the first time. The color and condition of your home’s exterior, the landscaping and the overall maintenance of the outside of the property all contribute to its curb appeal. Improving your home’s exterior and environs before listing it for sale is important. “Curb appeal is probably one of the most important and effective tools in selling a home,” explains Yawar Charlie, a Los Angeles-based estate director with the Aaron Kirman Group of real estate firm Compass. If people love the look of your home from the outside, they’re more likely to feel open and enthusiastic as they tour the interior. 8 ways to boost curb appeal Here are tips on how to improve curb appeal, bring in the buyers and get top dollar for your home: 1. Painting the house If your home’s exterior is looking dingy, it can be less appealing to potential buyers. One of the best ways to refresh it is with a new coat of paint. “A full exterior paint job can go a long way, especially if the paint has faded or is chipping,” says Reese Stewart of RE/MAX Properties SW in Florida. “While this can be costly, it can make all the difference if the home is overdue for a fresh paint coat.” According to Thumbtack, a home services/contractors search website, Spring + Summer Trend Guide, requests for exterior painting services were up significantly (by 166 percent) in the spring of 2022. “Warm and earthy neutrals are said to be the hottest trend,” notes David Steckel, a home expert at Thumbtack. “Organic shades that mimic colors in the environment will compliment your lawn tastefully and highlight all of the different factors boosting your curb appeal.” Cost: On average, expect to pay about $5,360 to paint the exterior of a 1,500-square-foot home, according to Fixr, a home remodeling resource. 2. Cleaning windows Cleaning your doors and windows gives the impression that your home has been well taken care of. If a potential buyer is put off by filthy windows, they may not want to see what sits behind them, even if the interior of your home is actually kempt. “Giving windows a good scrubbing is an easy and inexpensive way to remove any grime and give your home that sparkling look,” says Stewart. Cost: If you DIY, this project will cost you nothing but water, cleaning supplies and a little elbow grease. To have them cleaned professionally, Fixr advises the cost will be about $300. 3. Repainting doors Like a full exterior paint job, freshening up outside entryways with new paint can go a long way. According to an analysis by Zillow, painting your door black or charcoal gray could even contribute to a higher sale price. The real estate company found that homes with doors in these colors sold for an average of $6,000 more than expected. “Painting just the front door or the garages can help spruce up the entry point, since it’s one of the first things potential buyers see,” says Stewart. Cost: While you could hire a pro to do this job at an average cost of $275, according to Fixr, most homeowners do it themselves, with exterior acrylic latex paint costing between $20 and $50 per gallon. Your local paint shop can help you estimate how much paint you’ll need based on the size and scope of the doors in question. 4. Refreshing landscaping Seventy-four percent of Realtors recommend sellers revisit their landscaping before listing their home on the market, and 17 percent say doing so leads to a successful sale, according to the National Association of Realtors. If that’s not enough to convince you to call a gardener, consider that your home could yield a price tag up to 20% more when you’re ready to sell. “Take a step back and see if you need to repot some flowers or replace some bushes,” says Stewart. “Even some new mulch can go a long way.” Lawn- and yardwise, “turf has become a popular alternative to traditional grass as have drought-resistant plantings,” Steckel adds.The Thumbtack trend guide saw demands for landscaping service demands jump 144 percent in spring of 2022. In general, “we’re moving away from a sea of grass and towards spending time creating different spaces for different uses,” says Steckel. While yard features such as gazebos and pergolas are popular, it’s not worth going to the expense of adding these elements just for curb appeal, of course. But if you already have a patio or a deck, do spring for washing it, tidying it, and making sure it’s in good condition. Cost: The average cost for a professional landscape design, new soil, grading, grass seed, plants, patio and a walkway of a full front yard (the most important for curb appeal) is between $4,000 and $6,000; as high as $10,000 for the whole property, according to Fixr. If you have a rake and lawn mower, however, you can spruce things up for almost nothing. Paying for clean-up services — weeding, tree- and shrub-trimming, stump removal — range from $65 to $750, depending on the size of the yard and the task. Another quick and easy option is to add a few pre-potted plants to the walkway or porch. At a cost of no more than $100 or $200 (depending on the plants), you’ll add color and pop to the entry area, and can take the plants with you after you sell. 5. Power washing the driveway Leaves, rain and snow can wreak havoc on the surface of a driveway, especially a concrete one. “If your driveway is discolored, get it power washed,” Charlie recommends. If there are a lot of unsightly dings, bumps, gouges and cracks, you might even want to spring for having it resealed (especially if it’s been three to five years since you last did so). Cost: On average, the cost to pressure-wash a 600-square-foot driveway is $225, according to Fixr. If you want to do it yourself, you can rent an electric pressure washer for $39 per day, with a deposit, from Home Depot. Sealants cost anywhere from $15 to $165 per five gallons, according to Angi. 6. Hitting the lights Clean, functioning and well-placed exterior lighting not only looks nice, but also can be an important safety/security feature. At the very least, inspect and refurbish what lighting you have. “Make sure that it is clear of cobwebs and dust and that [all] the bulbs are still working,” Stewart says. “It can ensure your home is well-lit if any potential buyers visit around sunset or drive by at night.” And in terms of new lighting? “To boost curb appeal, I would suggest taking an ambient approach and including both uplighting and downlighting,” says Steckel. He adds that “most folks are going with a softer color like 2400 or 2700 Kelvin and a lower wattage because this light is less disruptive to the animals and insects that share the neighborhood.” No need to go overboard. Mainly, all you need is “smaller, softer lighting to help define space, highlight features and of course make it safe to traverse,” Steckel adds. “String lighting is a simple and cost-effective way to do this.” Cost: This DIY project can cost you nothing, unless you need to install the lights or purchase replacement bulbs. According to Fixr, you should budget an average of $400 for outdoor motion sensor lights and about $200 for ambient string lighting. 7. Fixing the roof The condition of your roof can be a sticking point for buyers. If there are broken shingles or tiles or other issues, it’s best to take care of them with the help of a professional roofer before they come up during the home inspection. Cost: For minor repairs (such as repairing links and replacing 100 square feet of asphalt shingles), the average cost for a professional repair is $750, according to Fixr. This can vary depending on the type of roof and the extent of the repairs. 8. Upgrading the mailbox It’s small but significant. The mailbox is one of the first things a prospective buyer will see when they arrive at your home. “If your mailbox is faded or is looking worse for the wear, it’s time for an upgrade,” Stewart says. “It might be a small project, but it’s one that can help improve overall curb appeal.” Cost: If your mailbox just needs to be cleaned or painted, the cost is next to nothing. If it needs to be replaced, you can find mailbox and post kits at Lowe’s starting as low as $29. Common curb appeal mistakes Once you have an idea of which curb appeal ideas to tackle, you don’t want to waste time or money. Here are some curb appeal goofs to avoid: Going overboard – Don’t get caught up in making every upgrade possible. “One of the common mistakes I find when it comes to curb appeal is a homeowner doing too much,” Charlie says. “There can be [such] a thing as too many trees or too many flowers.” Stewart agrees: “While a full garden may look beautiful to a seller, potential buyers may see it as difficult for upkeep.” Investing in projects with no return on investment (ROI) – A feature you may love could be seen as a liability to the next potential owner. One prime example is the installation of a lawn water feature like a fountain. “Fountains are beautiful to look at and create a very relaxing environment through their natural auditory appeal, but they technically cost more and are a recurring cost through [their water] consumption,” Steckel explains. “There is no ROI to a fountain but there is a significant ROI to saving water from a cost and planet perspective.” Making bold changes – Stick to neutral shades, especially for exterior paint. “One of the biggest mistakes I see people make is painting their homes a loud, outrageous color,” Charlie says. “Veer towards more of a classic look that will appeal to a variety of people.” Not consulting your HOA – If you live in a home governed by a homeowners association, confirm that your planned upgrades are within its rules. “Sellers should check the bylaws before making any improvements that must go through the HOA for review,” Stewart says. https://www.bankrate.com/real-estate/add-curb-appeal/

Honey Co-Founder George Raun Lists Bel-Air Mansion For $150 Million

When tech giant PayPal acquired Honey, a browser extension that aggregates and applies online coupons, for $4 billion in 2019, the sale made co-founders George Raun and Ryan Hudson worth a combined $1.5 billion. And what to do with that kind of money? A lot, apparently. Raun first purchased this Bel-Air home in 2020 for $60 million and just over two years later, is selling it for a whopping $150 million—no discount code applied. After purchasing the unfinished home in 2020, Raun enlisted renowned architecture and design firm Saota, as well as Woods + Dangaran, to create a one-of-a-kind trophy estate. It was quite the extensive renovation and took nearly two years to fully complete. Raun never lived in the home. The architectural masterpiece sits on 1.15 acres of land and rests above a promontory that offers 360-degree views of Los Angeles. The main house sprawls over 21,000 square feet, and there’s also a separate guest house with its own pool. The concrete-clad home has two levels that overlook the backyard through walls of glass. Inside, the open-plan living spaces seamlessly flow into one another and are further accentuated by a bright, neutral color palette; natural materials, like plenty of light-colored wood paneling; and high ceilings.

All the glamour in store for guests at Inman Luxury Connect 2022

Big names attending Luxury Connect are itching to share their secrets with the rest of the Inman community. Read on for the details of what's in store for attendees Aug. 2-3. All month long in July, we’ll survey the changing luxury real estate market, talk to top producers and offer advice on how to level up — all leading to the gathering of the year, Inman Luxury Connect, Aug. 2-3 at the Aria in Las Vegas. Make plans now to join us there. Inman Luxury Connect is swiftly approaching — are you ready? In a few short weeks some of luxury real estate’s finest will debate which way the ever-unpredictable market will turn, divulge their tricks of the trade and be recognized for their achievements in the industry at the Golden I Awards ceremony. Several big names will be in attendance itching to share some of their luxury secrets with the rest of the Inman community. Here are all the details of what’s in store for Luxury Connect attendees Aug. 2-3. Shifting markets Everybody’s talking about it — there has been a monumental shift in the luxury and nonluxury residential markets over the last several months as home prices have continued to inch upwards, and the Fed has pushed mortgage rates higher. Buyers have pulled back slightly and “market normalization” is on the lips of many. Fortunately, it’s nothing seasoned pros like Stephen Shapiro of Westside Estates Agency, Carrie Wells of Coldwell Banker and Fran Katzen of Douglas Elliman haven’t seen before. They’ll share how they’ve weathered past market storms and what agents can do to best position themselves today for what lies ahead in a panel called “Take It From Us: Advice From Luxury Professionals Who Have Seen It All.” Luxury leaders Brad Nelson of Sotheby’s International Realty, Anthony Hitt of Engel & Völkers Americas and Scott Durkin of Douglas Elliman Realty will also share from an executive perspective how to face the challenges that lie ahead as the market moves into a new phase, and how other leaders can coach their agents to success during this time. Niche market leaders like Paul Benson of Engel & Völkers and Zar Zanganeh of The Agency will also discuss what’s in store for up-and-coming markets that began trending during the pandemic — will they keep growing, or plateau? In a panel called “How Emerging Luxury Markets Will Fare In A Shifting Marketing,” these luxury experts will flesh out the details. Luxury teams Some industry experts have argued for years that teams are the future of real estate. For luxury agents who haven’t yet ventured into the teams space but are curious, there’s plenty to learn at Luxury Connect from some of the industry’s top team leaders. Aaron Kirman of the Aaron Kirman Group at Compass, Dawn McKenna of the Dawn McKenna Group at Coldwell Banker and Anthony Marguleas of Amalfi Estates will share their ideas for different team models and how to effectively scale in the luxury realm during the panel “How Do You Scale Teams In The Ultra High-End?” Members of the Eklund Gomes Team at Douglas Elliman will also share their tricks for staying motivated to become even better, while simultaneously growing their business and maintaining a healthy working environment within their team during “What It Takes To Get To The Top.” Tech and other tools Globl Red’s Kofi Nartey will guide a discussion on the biggest tech trends to keep an eye on in the luxury sector, and how to identify what tools luxury clients want most today. Tech real estate experts from companies like Agent Image and more will share insights during this “Big Tech Trends To Watch In Luxury Real Estate” panel. Then, during several lunch roundtables on Tuesday, luxury leaders will share their tips for how to leverage a number of tools in the industry today, from a brokerage’s development services, to listing presentation tools, to marketing tools and more. Strategies for success Inman Luxury Connect is truly the place to be for luxury agents looking to elevate their businesses. Industry titan Gary Gold will dish on how to win a trophy property listing even when other top names are competing for it. Connect attendees can check out his “Winning A Trophy Property” panel for more details. Meanwhile, Oren Alexander of The Alexander Team and Official, and Nicole Oge of Official will share their insights into why hyperspecialization is one of the keys to success in luxury, and how further hyperspecialization of the industry in the future could have a greater impact on it as a whole. Luxury Connect attendees will also hear from Lisa Simonsen and Kelly Bensimon of Douglas Elliman on how they leveraged reality TV to create a personal brand, which then helped them launch their real estate careers. The coveted Golden I Throughout the two days of Luxury Connect, attendees will hear stories about the finalists for the prestigious Inman Golden I Club, which recognizes some of the top achievers in luxury real estate. After learning about the finalists and their impressive accomplishments in the industry — and what it takes to become a Golden I member — Luxury Connect will culminate with the Golden I Awards ceremony crowning this year’s winners. Stay tuned for the big reveal. And don’t forget — the real estate party doesn’t end after the Golden I Awards have been doled out. Inman Connect Las Vegas continues, Aug. 3-5, at the Aria Resort and Casino. See you there. https://www.inman.com/2022/07/13/all-the-glamour-in-store-for-guests-at-inman-luxury-connect-2022/

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