A quick rundown of the important real estate news from the week of December 3 – December 9, by the numbers:
12 out of 27 – Number of metro markets where it’s cheaper to buy than rent according to a new Wall Street Journal article. Among the markets are Atlanta, Chicago, Las Vegas, Miami and Phoenix.
$12 Million – Listing price for Frank Sinatra’s old party pad. The estate has a 10,000 square foot main residence and a 1,000 square foot guess house. “Sinatra used to sublet the guesthouse to his friend: a blonde actress by the name of Marilyn Monroe. The swimming pool happens to be the site of the blonde bombshell’s last photo shoot, and more interestingly, the guesthouse served as the alleged meeting spot for the late Monroe and President Jack Kennedy’s notorious reported affair.”
23,000 – Drop in initial unemployment insurance claims last week on a seasonally adjusted rate (from 404,000 claims to 381,000) . The four-week moving average also dropped 3,000 (from 396,350 to 393,250).
$1650,000/month – Rental cost for the Astor Suite at the Plaza Hotel in Manhattan. The 5,000 square foot rental faces both Central Park and Fifth Avenue.
3.99% – Average rate on a 30-year fixed mortgage this week according to Freddie Mac. The rate is down slightly from last week’s average rate of 4.00% and down from the all time low rate of 3.94% nine weeks ago.
$5.85 Million – Listing price for the New York City town home in the movie “Breakfast at Tiffany’s.” The town home enters the market as the movie celebrates its 50th anniversary.
62% – Those in a Bank of America survey who said that buying a house in this market is a good investment. “Affordability did appear to be a priority for those survey respondents considering a home purchase in the next 12 months”
43% – Percentage of real estate professionals nationwide who believe that homes will stay the same price over the next six months. Also, 76% of homeowners think their home is worth more than their agent’s recommended listing price.