Home Sells in a Mere 12 Hours After Remote Staging


Remotely staging properties is a growing trend in the pandemic. And the service may stick around even after the health crisis is over, considering the success some stagers are having.

Home stager Francesca Mahoney with Creekhill Designs LLC in Holly Springs, N.C., did a video staging consultation with sellers in April, and then the home went under contract in just 12 hours. The homeowner emailed pictures of the home to Mahoney, and they met over a FaceTime video call for two hours to stage the 3,000-square-foot property, inside and out.

In the family room, Mahoney honed in on the fireplace in the back corner. She had the sellers move the sofa and pare down the furniture and accessories, which drew eyes to the fireplace first. She also urged the sellers to remove distracting decorative items and accessories, limiting kitchen countertops to only three items.

On curb appeal, she guided them in showcasing the front porch, such as with the addition of rocking chairs, hanging baskets of flowers, a fresh coat of paint on the front door, and a new doormat. “Today’s buyers are very discerning due to HGTV and Pinterest,” Mahoney says. “Getting compelling and beautiful listing photos is always critical, but even more so in our current reality.”

Mahoney plans to continue offering remote staging consultations even after the pandemic. “I have been pleasantly surprised at how effective they are,” Mahoney says.

Before

Videostaging Living Room Before

After

Videostaging After Living Room

Photo courtesy Creekhill Designs LLC.

Before

Videostaging Bedroom Before

After

Videostaging Bedroom After

Photo courtesy Creekhill Designs LLC.

Before

Videostaging Kitchen Before

After

Videostaging Kitchen After

Photo courtesy Creekhill Designs LLC.

Before

Videostaging Child Bedroom Before

After

Videostaging Child Bedroom After

Photo courtesy Creekhill Designs LLC.

Read more about remote staging in the latest issue of REALTOR® Magazine.



Source link

Chinese Billionaire Wang Jianlin’s Wanda Group Sells U.S. Skyscraper Project To Reduce Debt


Wang Jianlin’s conglomerate is offloading another overseas asset to reduce its debt.

Wanda Hotel Development Co., a Hong Kong-listed subsidiary of Dalian Want Group, said in a filing that it has agreed to sell its 90% stake in Vista Tower for $270 million to Magellan Parcel. The Chicago-based real estate company already owns the remaining 10% of the luxury residential and hotel project that will rise 101 floors above downtown Chicago.

The asset sale is expected to give Wanda Hotel Development a net return of HK$94 million ($12.13 million) before taxes, the stock exchange notice says. Wanda acquired its share of the project in 2014.

“As the Chicago property project is still under construction, the disposal will help reduce the current and future indebtedness of the group,” says the company’s filing to the exchange. The group in turn expects to “divert its resources” to hotel development, management and operations among other lines of business.

Wang, estimated to be worth $14.3 billion, is the founder and chairman of Dalian Wanda Group. He had become China’s richest man at more than twice that amount by arriving early to China’s commercial real estate boom in the 1990s and later transformed the group into a global entertainment empire. Jack Ma, chairman of the e-commerce giant Alibaba Group, overtook Wang in 2017.

After making a slew of acquisitions for several years in Europe and the U.S., Wanda has been offloading assets after it was placed on a watch list by regulators in April 2017. He sold his Chinese hotel and tourism assets for over $9 billion in 2017, followed by shedding a stake in the Spanish soccer club Atletico de Madrid and part of a stake in the U.S. movie theater chain AMC a year later. In March, Wanda Sports Group agreed to sell its Ironman triathlon business for $730 million.

Dalian Wanda Group had joined a wave of Chinese companies that sought ambitious overseas investments between 2012 and 2016. They hoped to brand themselves as global names, learn from overseas partners and diversify beyond an increasingly crowded domestic market. The deals didn’t always pan out.

“Chinese corporates went on an overseas buying spree, though this petered out as many realized investments were more challenging than previously anticipated,” says James Macdonald, senior director of Savills Research, China. At this point, he says, “developers might be looking to selectively dispose of assets to pay down outstanding debt or raise capital to be redeployed elsewhere.”

Wang’s companies still owns U.S. film studio Legendary Entertainment and run one of China’s largest movie theater chains. The group was hit particularly hard this year by the coronavirus outbreak which forced mass closures of cinemas. “Obviously Covid-19 has had a big impact on the hospitality, retail and entertainment sector, and so if assets can be sold and generate a net gain during this period of time, then all the better,” Macdonald says.

The group has additional investments in finance as well as more than 260 plazas in China.

The hotel developer’s Hong Kong-traded stock price gained 24.5% to close at HK$0.33 on Thursday after a three-day pause in trading due to the announcement.



Source link

Seahawks’ Mike Iupati Sells Arizona Home With Pro Sports Pedigree


Former Arizona Cardinals guard Mike Iupati recently unloaded his Tuscan-style resort home in Phoenix for $1.45 million, about $50,000 shy of his original asking price.

According to the Los Angeles Times, the hulking offensive lineman was the fourth professional athlete to own the home over the last decade or so. Given the number of pro athletes the home has attracted, chances are that the recent buyer is a baller of some sort.

The roster of owners of the 5,570-square-foot home includes former NFL quarterback Matt Leinart, NBA All-Star Amar’e Stoudemire, and former NFL guard Daryn Colledge.

Now playing for the Seattle Seahawks, Iupati purchased the home in 2015 for $1.365 million.

Wrought-iron accents adorn the staircase.
Wrought-iron accents adorn the staircase.

Realtor.com

Greek columns add drama to the dining and living space.
Greek columns add drama to the dining and living space.

Realtor.com

The lush landscape gives the home the feel of a resort.
The lush landscape gives the home the feel of a resort.

Realtor.com

The backyard features a patio, pool, and boulder slide.
The backyard features a patio, pool, and boulder slide.

Realtor.com

The five-bedroom home sits on an acre of land and is located about 30 miles from the stadium of the University of Phoenix. It features many custom finishes, including tile floors, dramatic pillars, a sweeping staircase, a two-story great room, wrought-iron accents, a dining room under a tray ceiling, and a family room with a fireplace.

The outside of the home resembles a luxe resort, with its lush landscaping, dining patio, and a pool with a spa, grotto, and boulder slide.

Iupati is from American Samoa, and his family had moved to California by the time he entered high school. He later attended the University of Idaho, where he was an All-American before being drafted by the 49ers in 2010. He played five seasons with the 49ers and four with the Arizona Cardinals, and has racked up four Pro Bowl appearances in 10 seasons.



Source link

Aaron Spelling Mansion Sells For Ungodly Sum, Even By Hollywood Standards



The house that “jiggle TV” built just rocked the real estate market of the entertainment capital.

A chateau originally owned by “Charlie’s Angels” producer Aaron Spelling in Los Angeles’ tony Holmby Hills has sold for a staggering $120 million, The Los Angeles Times reported Monday. That’s a record sale price for a home in Los Angeles County, according to the newspaper.

The Times noted that while the sale had yet to be recorded publicly as of Monday, it was a “done deal.”

The so-called Manor, or “Candyland,” nicknamed after the late TV mogul’s wife, Candy, was sold to Formula One racing heiress Petra Stunt for $85 million in 2011, then an LA record, according to The New York Times. The family had listed it in May for $160 million, People reported. It was listed for $200 million in 2016. The family’s decision not to return to LA prompted the sale, The Los Angeles Times wrote.

Spelling, who also produced “The Love Boat” and “Beverly Hills 90210,” which co-starred his daughter, Tori, built the mansion in 1991. He died in 2006 at age 83.

Even by show business standards, the 56,500-square-foot mansion with more than 100 rooms was a monument to excess. It featured a flower-cutting room, a bowling alley, a chamber devoted entirely to storing silver, and a French wine and cheese room, The Hollywood Reporter wrote.

Hard Rock Cafe co-founder Peter Morton sold his Malibu beachfront home for $110 million in April, Variety reported.



Source link