Morning Briefing: Nationwide home prices continue to edge towards peak level

by Steve Randall05 Oct 2016
Nationwide home prices continue to edge towards peak level
US home prices were up 1.1 per cent in August compared to July and up 6.2 per cent year-over-year.

CoreLogic forecasts that prices will continue to gain over the next 12 months with an average rise of 5.3 per cent year-over-year from August 2016 and a monthly rise of 0.4 per cent from August 2016 to September 2016.

“Home prices are now just 6 percent below the nominal peak reached in April 2006,” said Dr. Frank Nothaft, chief economist for CoreLogic. “With prices forecasted to increase by 5 percent over the next year, prices will be back to their peak level in 2017.”

CoreLogic’s president and CEO Anand Nallathambi warned that the continued rise was impacting housing affordability in many markets.
 
JR Ewing’s famous home is on the market, kind of
It was the biggest TV show of its time and now the setting for some of the most famous scenes in ‘Dallas’ is on the market.

Millions worldwide tuned in to the ups and downs of the Ewing family in the seventies and eighties and central to the show was the family’s luxurious Southfork ranch.

However, as is often the case with TV the Ewing ranch seen on screen was two separate properties. The outside scenes were filmed in Parker, TX and that home is now used as a tourist attraction and conference center.

The home that is now being marketed, according to TopTenRealEstateDeals.com was used for many of the inside scenes.

The estate at North Dallas Preston Hollow comprises a 10,341 Georgian mansion set on 4.3 acres. It has five bedrooms and seven bathrooms, elevator, billiards room, media room and wet bar. There is a pool, spa and fire pit.

The estate is listed with Allie Beth Allman of Allie Beth Allman & Associates at $12.95 million.
 
Former Barry Manilow estate adds $11 million to value
Barry Manilow’s former home in Malibu could be about to sell for $11 million more than the singing legend sold it for 4 years ago.

The oceanfront property became Manilow’s home in 2003 but he sold it in 2012 for $5.5 million and the new owners have remodeled and renovated it and are now hoping to pick up $16.7 million according to Realtor.com.

With access to a private beach, 5 bedrooms and 4.5 bathrooms, stunning views of the ocean and a spa; the home is described by Coldwell banker Previews International agent Jade Mills as a “one-of-a-kind beach retreat.”
 

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