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BEN LEE’S BLOG
Have Some Extra Room? Nightly Rentals to Football Fans Could Yield You a Nice Side Income
While living in or near a college town can certainly have its pros and cons, if you’ve got some additional space in your home, you may be able to bring in an extra cash flow this fall. According to a recent study by the financial website NerdWallet, those who live or own property in the vicinity of the Top 25 college football teams could potentially recoup a considerable amount of their monthly mortgage payment by renting out space on game day weekends (nightly rentals). (The site based its study figures on rental prices from the vacation website HomeAway).
Based on information from the study, in some areas of the country, the median per-night rental price can more than double when the home team hosts a game. So, depending on where exactly you own, and how well your local team is doing, it could definitely pay off to do some additional research.
How can it be possible to net so much for such a short period of time?
Well, one reason is because many college towns are not necessarily equipped with a plethora of hotels or other accommodations. So, many die-hard fans who want to follow their team in person, are oftentimes willing to pay a higher price if it means that they can stay close to where all the action is. So, if you have the space, you could have a great home-field advantage when it comes to making a few extra bucks.
image credits: POP!
Is It Time to Build a Luxury Bunker?
As concern continues to mount over local terrorism, global unrest, and even recent climate change, there are some who’ve decided that it’s time to take cover. Literally. But in this case, you can forget about the idea of hiding in a concrete bomb shelter, the likes of the 1960s, with only basic rations for nourishment and a few random cots to get some shut-eye.
Rather, today’s “luxury” bunkers can feature anything from a 40-foot swimming pool, a bowling alley, a shooting range, a Jacuzzi / sauna, big screen TVs, and even a 12-stall horse shelter. And this isn’t just a one-time fluke. In fact, as tensions have risen lately, the sales of these upscale luxury bunkers have also gone up dramatically – particularly over the past year or so.
Bunker owners include a fairly lengthy list of names, which encompasses professional athletes, TV and movie stars, and even business icons such as Bill Gates – none of which want to miss a beat, even if the worst case scenario does happen to occur.
So, what will all of this cost you? Well, it depends on just how over the top – or, under the top, as it is – that you want to go. But typically, you could be looking at a price tag of anywhere from roughly $39,000 to $8 million plus.
If you’re not quite ready to reside 10 feet below the earth’s surface, there are plenty of above ground housing options that include safe rooms and other features that are well equipped to get you through almost any kind of disaster that we’ve seen so far to date.
Own a “Madman’s” Home for an Affordable Price
While the trick-or-treating is done for another year, you may find that there are still some hauntingly good deals available out there – especially if you’re looking to purchase the home of a former madman.
No, it’s not Jon Hamm or John Slattery’s abode – but that of Earl “Madman” Muntz, who may be considered California’s greatest salesman of all time. Muntz is well-known for being one of the most iconic hucksters in the history of Southern California, or maybe even in the entire U.S.
Starting out by selling used cars back in the early 1940s, “Madman” Muntz quickly made a name for himself when he enlisted military men who were on their way west to drive vehicles that were purchased at low Midwestern prices to the higher-priced market in California.
As time went on, Muntz entered the TV business – not necessarily as a star, but rather by selling low-priced (and equally lower quality) television sets. This business, however, proved to be quite profitable for him – so much so that his daughter was aptly named Tee Vee.
The Madman icon’s 3,000+ square foot, 4 bedroom / 4 bath Sherman Oaks home features impeccable hardwood floors, and skylights that span across and brighten the entire kitchen area. In the master bedroom, you will find sliding glass doors that take you out to the pool, spa, and comfortable lounging area, as well as an en-suite bath.
This home, which can easily play host to the best of get-togethers, has been the site of numerous celebrity-filled parties throughout the years. Situated on a large, corner lot, there is plenty of space, yet ample privacy as well. Following a recent $50,000 price reduction, the home is currently listed at $1.75 million.
image credits: Rodeo Realty
High-End L.A. Luxury Real Estate: What’s Hot and What is Not
Since the end of the economic recession, one of the major drivers of demand for luxury homes has been a plethora of wealthy international investors who are looking for a safe place to earn a nice return, while still in a historically low interest rate environment.
Many of these individuals have pulled away – either temporarily, or on a permanent basis – from the falling oil prices, as well as various economic situations, such as the slowing Chinese economy. This can make particular areas of the U.S. an ideal haven for such investors – especially in vicinities like New York City and parts of Southern California.
Being a primary city for luxury properties, many global investors have been drawn to the L.A. area’s solid track record in the past, along with its substantial potential for growth going forward. Plus, in comparison to some other sought after areas like New York, Los Angeles can offer an additional perk for purchasers – land.
In fact, when comparing some of the most expensive cities across the globe, with the average per-square-foot price being in the high-four to mid-five-figure range, Beverly Hills can provide a significant bargain due to the fact that you can oftentimes pick up the property, along with half an acre of yard.
In addition, while L.A. is a key city for attracting many buyers from overseas, the area has also continued to remain in relatively high demand from local residents, too. So, for those who are selling in this market, now could be a good opportunity to list.
With that in mind, homes listed in the luxury real estate market can take longer to sell than an average home – and, the higher the price point, the more time it could take to find the perfect buyer. But, it could also mean a substantial return.
image credit: LA Times
Post-Divorce Stefani and Rossdale Home Listed at $35 Million
While most of the headlines recently have been focused on Gwen Stefani’s current new life with The Voice co-star and musician Blake Shelton, she and her rocker ex-husband Gavin Rossdale are still in the midst of finalizing some post-divorce details – which include putting their 7-bedroom, 10-bath hilltop home on the market.
The home includes numerous amenities, such as an infinity edge swimming pool, a lighted tennis court, a children’s playground, and an outdoor fireplace – plus kitchen and grilling station. Several of the rooms inside the home open out to extensive outdoor lounging areas that offer sweeping views of the eastern end of the San Fernando Valley.
Stefani and Rossdale purchased the guard-gated property in the Summit development – which was formerly owned by the likes of Jennifer Lopez – more than a decade ago, reportedly for just over the $13 million mark. But since that time, it has been professionally decorated by Kelly Wearstler, who is known for bold and colorful interiors.
In addition to its brightly colored themes, the interior of the home provides a living room fireplace that is faced with book-matched black marble, as well as a massive skylight that brightens up the kitchen and surrounding areas. You will also find a professional workout room that has floor-to-ceiling windows on two of the walls, along with offices that can be used for the house management staff.
For those who are seeking an address with a 90210 zip code, this posh 11,825 square-foot residence, located along a mountain top ridge between Studio City and Beverly Hills, is being offered at $35 million. The price also includes a guest house that is situated on the property.
image credit: via The Summit