Long awaited 2001 album for the irreverent Britpop act. The title reflects both the way in which the project was conceived (Dodgy persuaded their fans to invest to finance the album's recording) & the direct & down-to-earth nature of the songs. Both lyrically & musically, the album displays a new found maturity in the band's songwriting. New vocalist David Bassey gives some outstanding performances on songs such as '(We All Need A Little) Lifting', 'Rag Doll' & 'Come To Bed'.Price: $28.99
Lush production design and sparkling special effects make The Haunted Mansion pretty to look at. Terence Stamp (The Limey), as a malevolent ghost of a butler, provides a suitable air of menace as dematerializes to and fro. Marsha Thomason (Black Knight) is lovely as a real estate agent hired to sell a haunted mansion, but in truth the ghostly owner of the mansion believes she is the reincarnation of his lost love. Wallace Shawn (My Dinner with Andre) and Dina Waters (Six Feet Under) make a modestly amusing comic pair as a ghostly husband and wife who bustle about. Jennifer Tilly (Bound), as a green disembodied head in a crystal ball, glitters appropriately. The movie also features endless clichés, futile attempts at humor, and Eddie Murphy. If you're looking for a movie based on a Disneyland ride, try the very clever Pirates of the Caribbean instead. --Bret FetzerPrice: $14.99
Room for Color 2011 is here! Room for Color is our annual search for beautiful, colorful interiors. We welcome rooms of all sizes and styles as entries - small or big, traditional or fashion forward, found in homes that have been years in the making or in first apartments. If you have a fantastic, color savvy room to share, this is your contest. Enter today!
To enter, you'll need 5 (great!) photos of your colorful room.
The Prizes:
• Each of the 4 National Division winners will receive a $1000 gift card from Farrow & Ball
• The National Grand Prize winner will additionally receive two Eames Molded Armchairs (in their choice of 10 colors, of course!) from Smart Furniture
• The International favorite will receive a certificate of recognition and a collection of signed Apartment Therapy books
The Divisions:
• EAST: CT, DE, ME, MD, MA, NH, NJ, NY, PA, RI, VT, WV
• WEST: AK, AZ, CA, CO, HI, NV, NM, OR, UT, WA
• NORTH: IL, IN, IA, ID, KS, MI, MN ,MO, MT, NE, ND, OH, SD, WI, WY
• SOUTH: AL, AR, DC, FL, GA, KY, LA, MS, NC, OK, SC, TN, TX, VA
• INTERNATIONAL: All non-US entries
The Schedule:
• 10/20 -- Submission Forms open.
1• 0/24 -- Selected entries will begin to be posted. Readers may respond by choosing their favorite entries. Readers may mark as many entries as they like as favorites during this period. Readers may mark each entry as a favorite only once.
• 11/9 -- Submission form will close and no entries will be accepted after 23:59:59 EST.
• 11/21 -- The initial round of selecting favorites will close at 12:00:00 (noon) EST. Reader favorite feedback on the National entries will be tallied and the entry determined to be the top reader favorite in each regional division will move on to the final vote where the grand prize winner will be determined.
•11/22 -- The final round featuring the 4 regional finalists will be open for voting and will continue through 11/23.
•11/23 -- Voting in the final round will cease at at 15:00:00 EST and a Grand Prize Winner will be determined and announced.
• Follow Apartment Therapy on Twitter and share your favorites with the official hashtag: #room4color
• Like Apartment Therapy on Facebook for contest news and coverage
Image: Janel Laban/Apartment Therapy
Thanks our due to the fine folks over at Zillow Blog for brightening this Monday afternoon—they've apparently taken a break from eating Saltines just long enough to unearth a most unusual listing located some half-hour outside Birmingham, Ala. Set on 27 acres, the gargantuan manse, built in 1997, boasts 15 bedrooms, 22 bathrooms, a 25-seat home theater, a 2,000-bottle wine cellar, as well as interior details (antique light fixtures; marble, limestone, and maple flooring; mahogany doors and windows)—and this is proudly touted in the brokerbabble—completed by International Fine Art Conservation Studios, the firm that worked on the finishes inside Buckingham Palace. Also on the property: a guest house, two poolside cabana houses, a barn with living quarters, an outdoor riding ring, four pastures, and, we're assuming, lots more. Clearly the coolest thing about the place is that guitar-shaped landscaping, which the listing agent calls "just a whimsical, great idea," on the part of the owner, a businessman with no ties to the music biz. He's selling it like a rockstar, though, with an ask of $17.9M.
· Home of the Week: Guitar-Shaped Grounds at Alabama Mansion [Zillow Blog]
· 7 Montagel Way, Shoal Creek, Ala. [Zillow]
Once upon a time, real estate listings appeared in the Sunday editions of newspapers. How quaint! Now it's all online, and while realtors have tried video productions, they've been fairly grim productions, sometimes just re-purposed lo-res slide shows with bad, bad music. Where once there may have been an aerial view- an expensive proposition involving a plane unless it's clipped from Google- now we have aerial videos as openers shot from an electric helicopter. Distant cousins to the drones used over Afganistan, the go-to helicopter videographer in San Francisco is Devin Hedrick of Hover Effect, using a lithium battery-powered craft small enough to take off from a patio (above) and cruise around the neighborhood, in the video clip:
The listing in question is 3855 Washington Street, an over-the-top renovation we toured last week thanks to Butch Haze at Teed-Haze. Have a look in our gallery, or go to their full-on presentation. The house itself is completely renovated, with flawless finishes throughout like the dark green auto-body paint in the foyer. The designers seem to be channeling American decorator Dorothy Draper using strong contrasts and big white moldings. With an asking price of $8,900,000, the 6-bed, 6.5-bath house includes two master suites, one on the top floor, plus room for the au pair and the best laundry room we've ever seen. Plus a security system they asked us not to discuss.
· Hover Effect [Hover Effect]
· 3855 Washington Street [Teed-Haze/Sotheby's]
· The Draper Effect [NY Magazine]
? Previous: Sold Stuff
Name: Drew and Mindy and their beloved dog, Winnie Cooper
Location: Melrose, Massachusetts
Size: 1,700 square feet
Years lived in: almost 2 — owned
After I walked up the steep-ish, ample stairs to the front door of Drew and Mindy's house (greeted along the way by Winnie Cooper!), I walked in and remembered why it's so much fun to be a house tour blogger. I was instantly smitten with their delightful, beautifully curated home (and their dog, but that's another story).
Drew, a creative consultant, and Mindy, a wedding planner for Altieri Events, make a dynamic home design team. Here are some of my favorite elements of their space: the incredible use of blues and grays with red accents (I'm not typically a blue person but their space made me want to rush home and repaint my house); their amazing art collection (Drew owned and operated his own gallery in the South End up until 2006); the gleaming orange-toned hardwood floors; the cozy overall scale of the home; the beautiful balance of masculine and feminine elements (this is hard to achieve!); the clever layout in the living room with the floating desk (it's never easy to arrange these long, narrow living spaces); and even though Drew and Mindy are chomping at the bit to renovate the old school kitchen, I happen to love it.
Winnie Cooper is very lucky to live and play here. Well done, Drew and Mindy!
Apartment Therapy Survey:
Our Style: Mid-Century and Contemporary, but still warm and comfortable.
Inspiration: Drew's Arts and Crafts fascination started with Frank Lloyd Wright and the mid-century influence comes from his education as an Industrial Designer. Mindy is inspired by color and texture - but the fairly neutral wall colors are good for the art! (plus design*sponge, Elle Décor & apartment therapy).
Favorite Element: Wall Color Choices (with minor exceptions), all of the light from the windows, and the art.
Biggest Challenge: Keeping the house clean and not obsessing over the condition of the more pricey furniture items. And, finding 4-6 used Cab Chairs by Mario Bellini for our dining room. Call us!
What Friends Say: Like they're honest with us about the house! - but seriously, most of them say it feels very calm and inviting - especially being up high and looking out at treetops... and everyone loves that pencil point grey color in the dining room (below the chair rail).
Biggest Embarrassment: The bathroom and kitchen still need work, they are relatively untouched since we moved in. And the lighting...It's tough to find good stuff that you can live with, we have yet to invest in new fixtures. Also, Mindy said she'd paint all the trim - we've been here over a year... ahem.
Proudest DIY: Drew took off from work and spent a week straight painting every square inch of the interior prior to moving in. The schedule was 8 am to about 3 am for six days. He lived off of Melrose's Liberty Bell cheeseburgers and Mountain Dew (if you call that living).
Biggest Indulgence: Sadly, some new plumbing in the basement! But for fun, it's usually art related.
Best Advice: Figure out which pieces of furniture are worth spending good money on. Also, remember that you can get value out of things like furniture and art. For example, when you buy something at Ikea, it's like a car leaving a lot, it's worth a lot less when it leaves the showroom. Mid-century and antique furniture, even if used, can retain its value should you wish to sell it in the future for whatever reason, including trading it in for something new and different. And as far as choosing colors - it's only paint. If you don't like it, you can change it!
Dream Sources: High Brow Furniture, Room and Board, Machine Age (Boston), Herman Miller, Knoll, Cassina
Resources of Note:
PAINT & COLORS
• Main Hall, Upper Dining Room, Living Room, Upper Hallway: Behr Silver Sateen
• Lower Dining Room & Den: Behr Pencil Point
• Kitchen: not quite the blue I wanted...
• Stairway Accent Wall: Behr Chianti
• Master Bedroom: Benjamin Moore Charlotte Slate
• Guest Room: Behr Verdigris
• Drew's Office: Behr - messed up color mix, so "happy accident forest green"
• All Trim: Behr Ultra White
ENTRY
• table: Eileen Gray (Knoll)
• chair: Eames LCW (Herman Miller)
• antique rug: Ebay
• "Bank in the form of a Pig": Harry Allen
• Art: blue painting by David Moore, Print by Shepard Fairey
LIVING ROOM
• Sectional Sofa: Boston Inteiors
• Noguchi table: Herman Miller
• TV Stand: Nelson Bench by Herman Miller
• Blue Saarinen Chairs: purchased by Drew's father in Kansas City (
• Teak Desk: Abodeon in Cambridge
• Rug in sofa area: Chiasso
• Rug under desk: Ikea
• Art:Nixon and Mao prints by Faile, Bird print by Jungil Hong, Painting over the mantel by Peter Opheim
DINING ROOM
• Marble Saarinen table: Knoll
• Plastic Chairs: Design Within Reach
• Rug: Antique
• Vintage Chairs: Brimfield
• Red Wing Pottery: Prismatique is the line of that particular design, designed by Belle Kogan
• Art: Drawing by Ben Peterson, Photograph by Lori Nix, Screenprint/Drawing by Alex Lukas
KITCHEN
• Butcher Block: Ikea
• Cabinets and Tile same as when we moved in and in desperate need of a makeover
STAIRWELL
• Red Chandelier (came with the house - probably from Home Depot, we painted it red)
• Prints: Shepard Fairey
MASTER BEDROOM
• Copenhagen Bed: Room and Board
• Print: Shepard Fairey
GUEST BEDROOM
• Bed and Comforter: Ikea
• Rug: Ann & Hope
DREW'S OFFICE
• Eames Lounge: Herman Miller
• Flat File: Secondhand
• Desk: Ikea
• Office Chair: Costco
• Antique Mission Barrister Bookcase
• Art:Horizon Paintings by Judy Maloney, Explosion Painting by Mark Schoening, Blotch Painting by Chris Teasley, Bench in Snow Photograph by Remi Thornton, Dog print by Faile, Somerville Gate (in case) by Geoff Hargadon
Thanks, Drew and Mindy!
Images: Kyle Freeman
• HOUSE TOUR ARCHIVE Check out past house tours here
• Interested in sharing your home with Apartment Therapy? Contact the editors through our House Tour Submission Form.
• Are you a designer/architect/decorator interested in sharing a residential project with Apartment Therapy readers? Contact the editors through our Professional Submission Form.
"Commercial dog walkers provide a critical service to the many San Franciscans with dogs," Supervisor Scott Wiener said in a statement. "This service must be carried out in a professional manner that respects city property and the other users of that property." At today's Board of Supervisors meeting, Supervisor Scott Wiener will introduce legislation that would regulate commercial dog walkers in San Francisco. At first we thought dog walkers would throw a fit, but then we read on the SF Appeal that several groups, including the SPCA and a dog walkers' group, helped draft the legislation. "For the many professional dog walkers who are well-trained, who know how to care for dogs, and who respect the city property they use, this legislation will legitimate them and will require dog walkers who lack training or skills to get training," said Angela Gardener, a San Francisco Professional Dogwalkers Association member. [SF Appeal/photo via telmo32]
Oy, vey: TMZ has learned that reality TV princesses Kim, Kourtney, and Khloe Kardashian have filed for a patent to expand their multimillion-dollar empire (which currently includes clothes, handbags, shoes, belts, jewelry, hosiery, and sunglasses sold at Sears) into the home decor and housewares sphere. The line, called Kardashian Kollection Home, will include hand towels, bedding, flatware, photo frames, and—apparently—golf and football towels, window blinds, and beer steins. No word yet about release date or whether the collection will mimic the aesthetic of the unofficial family decorator, Jeff Andrews.
· Kardashian Fam Coming to a Bathroom Near You! [TMZ]
· Jeff Andrews on Choreography, Kids, and the Kardashians [Curbed National]
· Kardashian Kollection [Sears]
Riverside, Calif.-based YouTuber Halloween Light Show has rigged an otherwise unassuming house with a complex lighting system so that it's synched up to the song This is Halloween from the 1993 flick The Nightmare Before Christmas. According to the project description, the dazzling display was made possible thanks to strobes, floods, thousands of LED lights, and DMX fixtures and dimmers. Whatever that means. Sit back and watch as four pumpkin faces sing and tombstones do their thing, all without a an electricity-bill care in the world.
Halloween Light Show: This is Halloween:
· Halloween Light Show - This is Halloween [YouTube via Laughing Squid]
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With an iron grip and the capacity to fit the largest raised side rails, the Crossroad is the new standard for vehicles with factory-installed rails. They feature strong, low-profile, rubber-coated steel straps to provide a custom fit and rail protection. The way the feet are styled allows them to complement all vehicles and best of all it is easy to install with the turn of a handle, no need to get any tools out. . Product ID: 53674, Shipping Restriction: This item is not available for shipment outside of the United States.Price: $175.00
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For weeks now we've been touting new record-low rates on 15- and 30-year fixed mortgages. They're floating around four percent, dipping below four when Europe explodes, then back just above four percent this week, as the stock market makes a turnaround. Whatever the exact daily rate, the message is that the rates are a steal, and they should make home refinancing and home buying a steal. Not so much. The problem is that these low rates are not going to the borrowers who need them the most, and even worse, these rates should actually be lower than they are. “When there’s a rush of refinancers, lenders become flooded with volume and can adjust rates to slow their pipelines and increase margins,” says LendingTree Chairman and CEO Doug Lebda. “It becomes a matter of supply and demand, which unfortunately means borrowers are seeing higher rates than what’s being reported.” Lending Tree looked at spreads between the 10-year treasury rate and the average national rate on the 30-year fixed a few weeks ago, when rates were nearing record lows. "The 10-year treasury rate was at 1.88 percent, while the average national [mortgage] rate was at 4.03 percent. An alarming 215 basis point spread (compared to the 153 average basis point spread seen over the past 10 years) means that the full benefit of these low rates aren’t getting to consumers." While mortgage volume is at historically low levels, there has also been a mass exodus of mortgage lenders from the market, partially due to new government compensation policies that went into effect last Spring. "It had the effect of driving some of the best and most qualified loan officers out of the business," says Lebda. To make matters worse, the consumers who are getting the best rates are those who need those low rates the least. "Two of every three mortgage refinancings done by banks and guaranteed by the GSEs since 2008 have gone to higher income households," writes Christopher Whalen of Institutional Risk Analytics, who also notes that the bulk of refis have gone to newer, "higher coupon" loans. "The behavior of the GSEs and the top four banks – JP Morgan [JPM Loading... () 
] , Bank of America [BAC Loading... () ] , Citigroup [C Loading... () ] and Wells Fargo [WFC Loading... () ] – which prevent lower income Americans with performing loans to exercise their contractual right to refinance borders on the criminal," adds Whalen in a blog on Reuters.com. Despite a bump up in rates last week, there was a near 10 percent surge in government refinance applications, that is FHA loans. That's because borrowers who are turned down for Fannie and Freddie loans are moved to FHA, which has lower down payment and credit requirements. The government is supposedly now mulling a program to get more borrowers refinanced at low rates through Fannie and Freddie, but given everything I've just noted, the practical hurdles to that will likely be insurmountable. Don't get me started on the political hurdles. Questions? Comments? document.write("");document.write("RealtyCheck"+"@"+"cnbc.com");document.write('');And follow me on Twitter @Diana_Olick Readers suggested a topic on the latest government housing proposals. “What about the proposal to save the U.S. housing market by offering foreign investors a sweet deal on obtaining a Visa?”
A reply, “If we are serious about scamming these marks, give them automatic dual citizenship, so we can tax all their overseas earnings. Doesn’t Congress have any serious work to do?”
Another wrote, “Need more people to get the pyramid economy cranking again. Bring in new blood since the natives have been bled dry.”
One said, “The thing is that in so many foreign countries things aren’t so rosy: kidnappings, riots, drug lords, etc. A lot of people want to emigrate someplace where it’s still ’safe’. My brother got his engineering degree at ITESM in Mexico (Mexico’s top engineering school). He told me the other day that the majority of his classmates managed to get themselves trasferred to the USA by their multinational employer (I have a cousin who is trying to do that right now).”
“Being middle to upper middle class in Mexico means have a big fat bullseye on your back. You aren’t wealthy enough to afford bodyguards but rich enough to pay a ransom. Memo to American cubicle dwellers: coming soon to your neighborhood.”
And this, “Has anyone come up with any vibrant new solutions to fixing the U.S. housing market, or are we collectively stuck with the same tired old neo-Keynesian proposals over the foreseeable time horizon?”
Finally, “It’s about the jobs, plain and simple. And there’s no fix for that, without stopping the outsourcing, and ending illegal immigration. And since illegal immigration and outsourcing are favored by the 1%ers, it means that there is no fix.”
The Wall Street Journal. “About four years ago, as the housing bust worsened, our country faced an entirely predictable problem: A huge wave of foreclosures was headed our way. The issue of the day was how to stop it before it engulfed the entire economy. My suggestion then was to revive the Depression-era Home Owners’ Loan Corporation, which refinanced about a tenth of all the mortgages in America and closed its books with a small profit. Never mind the details; the suggestion was ignored. Maybe there were better ideas, anyway.”
“Sadly, however, we did almost nothing to stop the predicted foreclosure wave, which is now drowning us. The issue at this late date is how we can mitigate the damage. One oft-repeated answer comes from the intellectual descendants of Andrew Mellon and Herbert Spencer: liquidate, liquidate, liquidate. Let the housing market find its natural bottom, and the chips fall where they may.”
“I beg to differ. Some of the reasons are humanitarian. Millions of foreclosures are ruining millions of lives and devastating many communities. We can do better than Social Darwinism.”
Halloween is one time of the year when toilet paper makes its way out of the home and is displayed prominently everywhere - and I mean everywhere - but I think the t-p roll deserves more respect than that! It's been on my mind since I announced our partnership with Cottonelle to introduce their debut collection of designer roll covers as well as the Cottonelle "What's Your Mood Board?" contest.
The Respect the Roll program is putting a fresh, modern spin on a seldom considered everyday product — and given the time of year, tell me that this orange roll cover wouldn't fit perfectly with your Halloween decorations! *Head below the jump for some Halloween party ideas, as well as more information on how to enter the "What's Your Mood Board?" contest - there's still time to enter, and we can't wait to see your ideas.
We've got some great posts on Halloween to get you inspired and which will also get you working in your home to warm it up for the beginning of the holidays:
• Spooky Specimens: Perfect Plants For Halloween
Sure, you could buy scary Halloween decorations at the store, but some of the creepiest options can be found at a garden center, flower shop, or growing in your very own yard. Proceed with caution!... more
• Getting Ready for Halloween with HGTV's Sandra Espinet
Do you decorate for Halloween? Growing up, Halloween was my mother's favorite holiday, so our neighbors were greeted with caskets, orange lights, and of course, my mom, dressed in costume to scare the little ones... more
• Our Best Halloween Party Decorations & Ideas
If you want to throw a Halloween party that's slightly campy -- but not cheesy -- here are some budget-friendly decoration recommendations and simple ideas... more
• Halloween Cocktail: The Jack-O-Lantern
Kick start the holiday season with the Jack-O-Lantern, a Manhattan with hints of pumpkin, apples, and fall spices. With the blend of spiced apple cider, pumpkin puree, and Jack Daniels, the Jack-O-Lantern is great for either cozying up next to a fire or starting your wild Halloween night. more
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Price: $19.95
William C. Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York gave a speech today providing a national and regional economic outlook. He is Vice Chair of the FOMC.
Here are my favorite semi-housing related points of his presentation:
*…the output of the U.S. economy—grew at a 3 percent annual rate from mid-2009 through 2010. While hardly a blistering pace, this growth was sufficient to add nearly 1 million jobs and reduce the unemployment rate by a half percentage point during 2010. Then, during the first half of 2011, growth slowed abruptly to a 0.8 percent annual rate. Job growth slowed so much that the unemployment rate rose back up to 9.1 percent.
Growth slowed partly because of temporary factors…Energy and commodity prices rose sharply…April’s tragic earthquake and tsunami in Japan disrupted many global supply chains.
Residential construction—which typically boosts economic activity during a recovery—is at a standstill. Moreover, many homeowners are now consuming less because the decline in house prices reduced their wealth…
Mortgage rates are at record lows…but obstacles to refinancing and access to credit for home purchases are limiting the support provided by low rates to house prices and consumption…the prospect that unemployment and negative equity will continue to feed the foreclosure pipeline—continues to put downward pressure on home values.
…cutbacks in employment and spending by state and local governments intensified in 2011 and are likely to continue…states are likely to cut spending further as the federal government stimulus aid to states peters out.
…the federal government will soon end much of the support it has been providing to the economy through stimulus programs….it will be very important to avoid excessive short-term cutbacks or tax increases that could harm the recovery.
…the sovereign debt crisis in Europe has weakened the outlook for global growth and with it, U.S. exports…some financial institutions are facing pressures to cut back lending.
Stabilizing the housing sector is particularly important because housing equity is an important part of household wealth...Taken together, such efforts could help shift people’s expectations about future house prices. If prospective homeowners no longer fear that prices could decline further, they will be more willing to enter the market to take advantage of reduced prices and low financing costs, and existing homeowners will feel more confident about spending. A vicious cycle could be replaced by a virtuous circle, in which stabilization in house prices supports spending, growth and jobs.Citywide employment fell by nearly 4 percent during the downturn, much less than the nationwide job loss of 6.5 percent. During the recovery, New York City has already regained half of the net jobs lost during the recession. This has happened without much help from the securities industry (Wall Street), which has been a driving force behind local economic recoveries in the past. This time, the strongest contributors to job growth have been professional and business services, leisure and hospitality.Without robust growth, the economy is more vulnerable to negative shocks, which unfortunately seem to keep coming. It is like riding a bicycle—at a slow speed, the bicycle wobbles and the risk of falling rises. Politics here and abroad have not helped. The intense debate around raising the debt ceiling and the subsequent downgrading of the federal debt took a toll on household and business confidence.
There's nothing like a truly delicious and absurdly lavish amenity to jostle a sleepy Friday morning: this 2,181-square-foot penthouse, covered today in the Wall Street Journal, is so mindboggling that we can't help but take another look. The two-bedroom, three-bathroom Vancouver apartment, which will feature in an upcoming Reese Witherspoon flick and once played host to Owen Wilson, is being sold by the owner/developer—co-founder of Canadian Springs Water Co.— who says he's "living a little quieter lifestyle now than when I first started the project." Meaning the full-scale renovation that produced a gleaming modernist kitchen, a private elevator, and, of course, the crown jewel: a 40-foot lap pool whose acrylic floor serves as ceiling for the hallway below. Why the hell would anyone give such a property up? "[L]iving in the [penthouse] can be a little too social at times," the owner adds. (We're playing the world's saddest song on the world's smallest violin over here.) Ask? Roughly $3.4M American dollars.
· Swimming Cool in Chinatown [WSJ]
· 50 133 Keefer Street, Vancouver, BC [Ken Leong]
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The banner is made of knit polyester for long life and bright colors.
The "stay open" design lets your customers read the banner even when the wind is not blowing.
The image is 100% dyed-through, single-sided (back side reverse).
Price: $90.00
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I was talking about the new iPhone 4S announced today with my wife and sons over dinner. I went to show my son the video on the new Siri app for the iPhone and saw Steve Job’s black and white image on the Apple site announcing his death – I clicked a few times not initially registering what it meant. Then a flurry of news alerts came on my iPhone and confirmed that he had passed.
We watched the CNN coverage and admittedly I got a little choked up. Cancer really sucks and touched my family’s life when my wife went through the whole process a little over 5 years ago.
I’ve long kept his famous Stanford commencement speech as well as the 1984 Macintosh Superbowl ad on my laptop, then iPhones.
Back in 1982-83, recently out of college and I walked into a computer store in suburban Chicago and bought an IBM PC Jr. I played around with it, but when visiting my boss’ house for a party, I saw his green screen adorned Apple PC.
In 1986 I walked into a Computerland Store on Third Avenue in Midtown Manhattan, intent on buying a computer to start our appraisal business. I was going to buy an IBM PC. However I saw the new Macintosh Plus and was hooked. Visits to MacWorld trade shows in Boston, New York and San Fran with my pregnant wife or Dad were bigger than any holiday.
We built our businesses with Apple products.
I always figured that if you spend a large part of your working life working with a computer, why work with an appliance? PC = toaster. Mac = an experience.
Thanks Steve.
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Let's face it, the temps are falling, the days are waning, and autumn has officially begun. Why not ease the pain by stalking us on Facebook? It's as easy as heading over to the Curbed National Facebook page and hitting "Like." Our top stories will show up in your Facebook feed, like magic. And hey, follow us on Twitter, too. We'll be liking you back in spirit. [Facebook, Twitter]
Real Estate Gallon is filled with 2 lbs of our delicious gourmet cookies and wrapped in a real estate themed label. Perfect for referrals and welcoming gifts!Price:
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Martin self-righteously crossed his arms and reminded Gareth of his warning that the new terrace fountain would attract some odd creatures.Photo: Joshua McHugh/Arch Digest 
In Brokers Who Dominate you will learn the strategies and tactics, marketing approaches, prospecting platforms, and support structures of some of the most successful commerical real estate brokers in North AmericaPrice:
[click to open report]
The renamed “The EllimanReport: Manhattan Sales 3Q 2011 was published today. It is part of a report series that we have authored for Prudential Douglas Elliman since 1994.
You can build your own custom data tables with the new data. I’m about to launch a site redesign and am rejiggering the way I handle charts (automatic) so I haven’t been very diligent in updating them on my site – sorry about that.
Here’s an excerpt from the report:
…Housing prices in Manhattan continue to remain stable. The median sales price of a Manhattan apartment was $911,333 in the third quarter, essentially unchanged from $914,000 in the prior year quarter and up 7.2% from $850,000 in the prior quarter. The other price indicators offset each other. Average sales price slipped 1.5% to $1,464,528 from $1,487,472 in the same period last year and edged above $1,455,098 from the prior quarter. Price per square foot increased 3.2% to $1,130 from $1,095 in the prior year quarter and increased 5.8% from $1,068 in the prior quarter…
Here’s a summary of the media coverage and a few of today’s headlines (in no particular order):
Flat Prices but More Manhattan Home Sales [New York Times]
‘Boring’ Sales Pace Is Solace for Manhattan Apartments [WSJ]
Manhattan Apartment Sales Gain as Economy Fuels ‘Bipolar’ Market [Bloomberg]
Manhattan home prices rise: Average pad costs $1.4 million [CNN/Money]
Manhattan Market Approaches a New Kind of Normal [Curbed NY]
No strong signs of condo, co-op weakness last quarter [Crain's NY]
Price is right for foreigners [NY Post]
Manhattan home sales market maintains status quo [The Real Deal]
Despite Financial Volatility, Tight Credit and Downgrade of U.S. Debt, Manhattan Fared Better Than Most U.S. Metros in 3Q [WPC]
Big Deals Buoy Manhattan Apartment Market [NY Daily News] not online
Other reports we prepare can be found here.
3Q 2011 Manhattan Market Report [Miller Samuel]
Manhattan custom data tables [Miller Samuel]
Carried on the wings of butterflies is the rumor that 45 Lansing of Rincon Hill shall rise again, like a phoenix from the ash. In this case, the ash in question is actually now a flourishing native wildflower and winged-critter garden, the result of the Rebar/Pollinator partnership and the flexing of many a volunteer green thumb. We have to wish the site’s new owners luck; past efforts on the site have cost former developers Turnberry Associates, not to mention the city itself, millions of dollars, with nary a brick laid. Could it be the curse of the butterflies?
Bravely, Miami-based Crescent Heights, the folks behind the Metropolitan building on First Street, went ahead and purchased the Lansing parcel-- for a substantial discount-- in 2010. Perhaps they’ve worked to lift the butterfly curse in the months in between, for now, according to the recently resurrected 45 Lansing webpage, the condos are “coming soon.” Reader will note that no butterflies appear on this mysterious splash screen, a bit worrisome for current garden residents. Unlikely these flora and fauna tenants will receive compensation.
· 45 Lansing [website]
· Big San Francisco condo site sold at big discount [SF Business Times]
· First Day's a Good One in Building Rincon Hill's Butterfly Eden [Curbed SF]
· Rincon Hill Eats It [Curbed SF]
There's no denying that 2701 Broadway on Billionaire's Row is one of San Francisco's most opulent, expensive and talked about properties. The 7-bed, 7-bath, 16,400-square foot mansion has been sitting pretty (and large) on the market for quite some time. The property was completely rebuilt and restored in 2002, and features an indoor basketball court and elevator to all five levels. It sat on the market for a year at $32,000,000, and just recently took a price chop of $3,500,000, bringing down the asking price to an obtainable $28,500,000. Dear readers, do you think this price reduction will motivate a buyer? Let us know in the comments!
· 2701 Broadway [Redfin]
· Take a Look at Some of the Most Expensive Properties in SF: Billionaire's Row Edition [Curbed SF]
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Bank of America offers up to $20,000 short sale incentive to struggling homeowners
By Kimberly Miller Palm Beach Post Staff Writer
Posted: 6:12 p.m. Thursday, Oct. 6, 2011
Bank of America, the nation’s largest mortgage servicer, is offering Florida homeowners up to $20,000 to short sale their homes rather than letting them linger in foreclosure.
The limited time offer has received little promotion from the Charlotte, N.C.-based bank, which sent emails to select Florida Realtors earlier this week outlining basic details of the plan.
Only homeowners whose short sales are submitted for approval to Bank of America before Nov. 30 will qualify. The homes must have no offers on them already and the closing must occur before Aug. 31 .
Realtors said the Bank of America plan, which has a minimum payout amount of $5,000, is a genuine incentive to struggling homeowners who may otherwise fall into Florida’s foreclosure abyss.
The current timeline to foreclosure in Florida is an average of 676 days - nearly two years - according to real estate analysis company RealtyTrac. The national average foreclosure timeline is 318 days.
“I think this is a positive sign that the bank is being creative to try and help homeowners and get things moving,” said Paul Baltrun, who works with real estate and mortgages at the Law Office of Paul A. Krasker in West Palm Beach. “With real estate attorneys handling these cases, you’re talking two, three, four years before there’s going to be a resolution in a foreclosure.”
Guy Cecala, chief executive officer and publisher of Inside Mortgage Finance, called the short sale payout a “bribe.”
“You can call it a relocation fee, but it’s basically a bribe to make sure the borrower leaves the house in good condition and in an orderly fashion,” Cecala said. “It makes good business sense considering you may have to put $20,000 into a foreclosed home to fix it up.”
Homeowners, especially ones who feel cheated by the bank, have been known to steal appliances and other fixtures, or damage the home.
“This might be the banks finally waking up that they can have someone in there with an incentive not to damage the property,” said Realtor Shannon Brink, with Re/Max Prestige Realty in West Palm Beach. “Isn’t it better to have someone taking care of the pool and keeping the air conditioner on?”
A spokesman for Bank of America said the program is being tested in Florida, and if successful, could be expanded to other states.
Wells Fargo and J.P. Morgan Chase have similar short sale programs, sometimes called “cash for keys.”
Wells Fargo spokesman Jason Menke said his company offers up to $20,000 on eligible short sales that are left in “broom swept” condition. Although the program is not advertised, deals are mostly made on homes in states with lengthy foreclosure timelines, he said.
And caveats exist. The Wells Fargo short sale incentive is only good on first lien loans that it owns, which is about 20 percent of its total portfolio.
Bank of America’s plan excludes Ginnie Mae, Federal Housing Administration and VA loans.
Similar to the federal Home Affordable Foreclosure Alternatives program, or HAFA, which offers $3,000 in relocation assistance, the Bank of America program may also waive a homeowner’s deficiency judgment at closing.
A deficiency judgment in a short sale is basically the difference between what the house sells for and what is still owed on the loan.
HAFA, which began in April 2010, has seen limited success with just 15,531 short sales completed nationwide through August.
But Realtors said cash for keys programs can work.
Joe Kendall, a broker associate at Sandals Realty in Fort Myers, said he recently closed on a short sale where the seller got $25,000 from Chase.
“They realize people are struggling and this is another way to get the homes off the books,” he said.
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"There's so much waste, it makes me cringe," says Belgian-born artist Walter Raes in his artist's statement—no doubt with the sort of awesome accent that makes the sound of such words even cooler. "I want people to know how much effort goes into manufacturing everyday things." Thus explains "Missing," the curious (and aptly named) table above, which debuted at this year's London Design Festival in an installation modeled after a vintage room vignette. As our friends at Design Boom astutely point out, "Upon closer inspection, the traditional British suburban space delivers a sharp comment on waste, as each familiar object turns out to be a pile of inventively reassembled trash." Ah, art.
· Walter Raes at London Design Week 2011 [Design Boom via moggit]
Thanks to its collection of canals, the Netherlands manages to have quite a varied housing stock for a nation that's been known as one of the "Low Countries" for hundreds of years. This multi-use building in Delft, has recently had it's price chopped down to $3.9M. Now that's no small sum, but considering the structure dates to the early 1600s, was once home to the local butter factory, had its ornate facade rebuilt in 1775, and fronts on the historic town square, it may still qualify as a value. Plus, for that authentic Dutch feel, a canal runs past the rear of the 5,900-square-foot house. After the jump, we'll take a look at Amsterdam and a converted tug boat with a '50s-style kitchen.
? Few of Amsterdam's storied canal houses remain on the market for long, but some apartments in the grand homes are currently lingering on the rental market. This one, located on the city's innermost canal, Herengracht, is currently for rent for $9,300 per month. A duplex in a house dating from 1655, this apartment enjoys a lush rear garden and a glassed-in sunroom, along with two bedrooms, two baths, and a chef's kitchen.
? For those ready to spend a bit more time, and money, living on Amsterdam's canals, this three-bedroom apartment, which lies just north of the historic city center, is currently listed for $938K. Separated from the canal by a roadway, the apartment thankfully enjoys use of a spacious backyard, while large porches and tall windows allow residents to take advantage of the green space.
? For $912K, this entire building is for sale between Herengracht and Kaizersgracht, with a commercial space on the first floor and a four-story apartment. The interiors aren't particularly well finished, but the electrical system dates from 2000 and the kitchen from 2005. With those updates, the place should be ready for a stylish renovation, but good luck putting in an elevator to service all those floors: Amsterdam is very strict about modifying historic buildings.
? This last one is a bit of a curveball. While it looks out of place at first glance—it is a tug boat after all—the interiors have been refinished to make this a decent home, particularly for those who like a retro look in the kitchen. The $271K vessel is currently lying in Nieuwerkerk aan den IJssel, a canal town north of Rotterdam, meaning it could probably navigate any number of Dutch canals.
· The Boter Huis -National Monument Building In Delft [Viviun]
· Centre, Amsterdam [Point2]
· Nassaukade 15 [JLG Real Estate]
· Herenstraat 7 [JLG Real Estate]
· Tug [Apollo Duck]
Here’s an infographic that caught my eye – largely because they used my Manhattan 2Q 2011 PPSF of $1,068. Not sure of the validity of all the numbers but it’s got to feel a little weird in Denver or Atlanta to realize you are cheaper than Al Kut, Iraq.
[click graphic below to expand]
It’s Friday desk clearing time for this blogger. “Elaine Dobson, partner at Bircham Dyson Bell LLP believes that even with the economic doom and gloom in the UK property market, central London and in particular prime central London is a property bubble that can’t be burst. ‘The Central London property bubble seems to be intact with much of the investment coming from abroad, explains Dobson. ‘The outer edges of London, north of the M25 and in other areas around the UK are stagnating badly. It just seems to be London and other small pockets in Cheshire, Cornwall and Oxfordshire that buck the trend completely - and seem immune from the full effects of the economic downturn.’”
“It’s spring and a young man’s (or woman’s) thoughts turn towards … property. And what charms it may hold this year. The days are long gone when you had to race from auction to auction to nail a purchase before prices soared higher. Researcher Australian Property Monitors is predicting just 5 per cent growth in values over the next year. Prices in some areas may fall. The days of 100 per cent home loans are gone, so you’ll need at least a 5 per cent deposit - preferably much more.”
“With Sydney and Melbourne median house prices about $600,000, that’s a deposit of at least $30,000.”
“Some lenders are still insisting on a 10 per cent deposit. HSBC’s head of mortgages, Alice Del Vecchio, says some lenders are lowering their hurdles but ‘from our perspective, we remain quite rigorous in terms of how robust we want customers to be … we want to make sure they’re not stretching themselves even before they start.’”
“With Greece on the verge of debt default and other European countries threatening to follow, it was a little ironic this week to hear the International Monetary Fund issue a warning Canadian household debt is getting too high. After all, aren’t we the poster children for financial prudence in the new millennium? Well, actually no. Canadian household debt really is at the highest levels in history, by many measures.”
“It’s quite understandable we have racked up such debts, with rising house prices and ever more convenient line of credit products allowing the use of people’s homes as ATM machines. The worst part of it, in my view, is that much of this money has been used for consumer goods, from cars to home theatre to travel, all of which are depreciating assets.”
“Finance Minister Jim Flaherty answered the IMF report by saying he wants to see ‘clear evidence of a bubble in the housing market in Canada, which we have not seen,’ before taking more steps, according to Bloomberg News.”
“There are currently 132 highrise buildings under construction in Toronto, according to the figures. There is little fear among industry experts that Toronto construction is outstripping demande. In fact, some are worried about the opposite. There are more than 39,000 condo units under construction in the region, according to Ben Myers, executive VP of market research firm Urbanation — ‘and 88 per cent of those are already sold.’ A further 118 buildings are in pre-construction, he said, and three-quarters of those are sold. ‘We’re just continually getting larger and larger and larger.’”
“Setting the standard for height are buildings like the Burj Khalifa in Dubai, the tallest building in the world with over 160 storeys. And Toronto is set to follow suit. ‘The whole centre of the city is going to change dramatically; it’s going to be very tall. In the very centre of the city, the height limits that are possible are unlimited so we can have a 1,000-storey building in the centre of the city,’ says Richard Wit, director of Toronto’s RAW Design.”
“There are mountains of bargains at Blue Mountain Ski Resort with condo prices on the resale market down as much as 40 per cent from their peak. Gerry Wayland, broker at Village Realty Inc, explains that a two-bedroom unit with ‘moderate owner usage’ will generate an income in the rental program that will cover most of the about $16,000 operational cost of ownership. ‘But it won’t cover the cost of the mortgage,’ he says. ‘An investor says, ‘You mean it won’t cover my mortgage?’ while end users are delighted that their other costs are covered,’ says Wayland.”
“Joe Zinner, who purchased a one-bedroom unit at Red leaves when it was launched in 2008, says his family has enjoyed using their unit, but he is now hopeful that he will start to see a return on his investment. ‘I can tell you we are all thrilled and very pleased about the new owners, they are very shrewd operators,’ says Zinner.”
“A number of the long vacant condo units at Aquattro in Colwood found buyers over the summer. Anthem Properties, based in Vancouver, has taken over marketing the empty units on behalf of the receiver of the bankrupt $350-million project. Now Anthem is looking to move five larger units for deep discounts, including some with three bedrooms and a den, in the $500,000 range. ‘That’s 40 to 50 per cent less than they were originally listed for,’ sales director Robert Marchant said. ‘These are homes built pre-2008, when the economy was better.’”
“The Haven project, which has become the talk of many Perakians given the many advertisements on billboards here and the developer’s continued commitment to the project despite skepticism by certain quarters, has thrust Superboom Projects into the limelight. The developer is now in talks with landowners from Kuala Lumpur, Cameron Highlands in Pahang and Australia to undertake condominium developments on their land.”
“Although property prices of its earlier two projects have appreciated by 100% in just two years, it is The Haven that has put Perak in the limelight for five-star luxury condo-living. ‘The price may not reach those of the major cities (in Malaysia), but the appreciation will be faster because of a lower base,’ said Superboom Projects CEO Peter Chan. He added: ‘There is a vacuum for such (luxurious) properties that the people want to own it but the only thing preventing them from getting it is the mindset on condo-living in Ipoh. So there is no supply until we come along (with the project).’”
“There are signs of trouble in the China’s real-estate market, which has the potential to ripple across the Pacific Ocean and affect Vancouver housing prices. Patrick Chovanec, a professor at Tsinghua University’s School of Economics and Management in Beijing, adds that ‘one potential interpretation of this crisis is that China is entering the terminal stage of a bubble, and that what we are seeing are the early signs of a much broader collapse.’”
“‘More significant, in my eyes, are reports — which began emerging in late August — that in several cities across China, prices in primary housing markets (developers selling to homeowners) have begun falling away from those in secondary markets (homeowners selling to other homeowners). The effected markets include not only 1st tier metropolises (Beijing, Shanghai, Guangzhou, and Shenzhen) but also 2nd tier (Chongqing, Wuhan, Tianjin, Zhenghou) and 3rd tier (Ningbo, Foshan, Wuxi) ones as well.’”
“Chovanec mentions that one report mentioned a price gap in Beijing and Shanghai of 20 percent. Developers are dropping the price of their product because they need cash. In recent years, Vancouver’s real-estate market has been fuelled in part by the influx of Chinese buyers. If our housing becomes less competitive and the rich in China are feeling squeezed, that could reduce the number of purchasers.”
“Farmland prices are rising rapidly across Minnesota and the rest of the United States. Data tabulations lag a lot, but much evidence supports estimated price increases of 25 percent to 30 percent in just the past two years. Even the tax statements for our own small farm show a tripling of value in less than a decade.”
“Bubbles may stem from irrationality, something the geezer generation within economics is loath to accept. In late 2007, even as the housing bubble began to collapse, Eugene Fama, the father of efficient market theory, famously denied that bubbles can even exist. ‘The word ‘bubble’ drives me nuts,’ he said.”
“A few see the Fed as the instigator of all of this. First, its low interest rates over the past four years make buying farmland cheaper, and its repeated commitments to keeping interest rates low for an extended period accentuate the incentives. Its recent initiative to lower long-term rates further compounds the problem. Secondly, some blame easy money for a bubble in commodity prices themselves, including those of farm products, thus artificially inflating the profits numerator in valuation calculations.”
“In 2008, panicked governments and central banks injected huge amounts of money into their economies, in the form of government spending, tax concessions, ultra-low interest rates and ‘non-conventional’ monetary strategies - code for printing money.”
“The actions prevented the Great Depression 2.0 temporarily, converting it into a deep recession. The US economy shrank by 8.9 per cent in 2008. As individuals and companies reduced debt as banks cut off the supply of credit, governments increased their borrowing, propping up demand to keep the game going for a little longer. Governments gambled on a return to growth, solving all the problems.”
“That bet has failed and high levels of government debt in some developed nations have become the central problem.”
