Global Luxury Update, The 2016 Housing Market, and New Years in St Petersburg

Global Luxury Update

 

Institute for Luxury Home Marketing

“World’s Most Expensive Home: Château Louis XIV Sells for $301 Million”

A private buyer purchased the $301 Million Château Louis XIV Estate, making it the most expensive home ever sold.  In fact, the property was considered for Kim Kardashian and Kanye West’s wedding in May of 2014.  Located between the famous Versailles and Marly-le-Roi, the Parisian mansion is situated on a sprawling 57 acres. The opulent home is befittingly named after the French Monarch Louis XIV, who ruled France for 72 years. It features an underground nightclub, a lounge inside of a real shark-tank, movie theatre, 3,000 bottle wine cellar, and Sistine-Chapel style ballroom.  Could you possibly want anything more?

© Château Louis XIV

 

The 2016 Housing Market

 

Realtor.com

6 Stellar Reasons to Buy a Home in 2016

Realtor.com article lists low interest rates, soaring rental costs, stabilizing home prices, helpful programs from down payments, deals on mortgage insurance, and major tax breaks as stellar reasons to purchase in 2016.

 

Tampa Bay Times Real Estate

Nice Homes Popping Up in Strange Places as Tampa Bay Economy Awakens

Susan Taylor Martin, Tampa Bay Times Senior Coorespondant, describes an “out with the old and in with the new” mentality in St. Petersburg’s Historic Uptown Neighborhood.

 

 

Photo Courtesy of Calusa Press Co

Purchase the entire collection at St. Pete Hood Love Series

 

PR News Wire

Realtor.com® 2016 Housing Forecast Predicts Healthy Market with New Construction Driving Highest Level of Home Sales Since 2006

Of the 6 million homes predicted to sell in 2016, the majority of those sales are thanks to Millenials, Gen X’ers, and retirees.  Interestingly enough, older millennials in the age group of 25-34 years old are expected to make up the largest group of home buyers in 2016.  Jonathan Smoke, chief economist at Realtor.com, says, “Next year's moderate gains in existing prices and sales, versus the accelerated growth we've seen in previous years, indicate that we are entering a normal, but healthy housing market."  He also expresses the need to “make up ground“ with a boost of new construction, a trend we are expecting to see in 2016.

 

Housing Indicator

Realtor.com® 2016 Forecast

2015 Expected Actuals

Home price appreciation

3% increase

6% increase

Mortgage rate

Reaching 4.65% (30-year fixed) by end of year

4.15%

Existing home sales

5.4 million, 3% growth

5.26 million, 6% growth

Housing starts

Overall 12% growth in home starts; 15% growth in single family home starts

Overall 10% growth in home starts; 7% growth in single family home starts

New home sales

Increase 16% with increased single family construction

Increase 14% with increased single family construction

Home ownership rate

Decreases slightly to 63.3% from forecasted 63.4% for 4Q 2015

63.4% for 4Q 2015

Table 1: Realtor.com® Forecast for Key Housing and Economic Indicators

 

 

New Years in St Petersburg

 

First Night St Pete -  Florida’s Largest and Most Popular New Year’s Celebration

 

            Ring in the New Year at the 23rd Annual "First Night St Pete!"  Each year, on December 31st the city holds a celebration of the arts open to all communities.  Advance tickets are 10$ for Adults and 5$ for children.  The family-focused event offers countless activities, including musical artists, extensive entertainment, dancing, games, art exhibits, crafts, drama, and even fireworks.  From 4:00-7:00p kids can participate in Hat and Mask Making, the LED light station, the Mad Science Show, a “Musical Petting Zoo,” and Giant Sea Creature Puppets.  Additionally, St Pete’s downtown location holds over 100 shops and restaurants available to the events attendees. Local sponsors of First Night include The Rowdies, The City of St Petersburg, AARP Tampa Bay, Bright House Networks, Clear Channel Outdoor, 105.5 WDUV, Duke Energy, Courtyard Marriot, Hampton Inn and Suites, and many more. For a full sponsor list, map, and schedule of the endless events view the Program Schedule here or download the First Night St Pete App on your mobile device. Purchase your tickets here before they sell out!

            “The mission of First Night is to broaden and deepen the public’s appreciation for the visual and performing and literary arts through an innovative, diverse and high quality program on New Year’s Eve.”

Courtesy of J&S Signs

 

Interested in more NYE 2016 events happening in your neighboorhood? Check out this phenomenal article from local powerhouse Ilovetheburg.com entitled, " Weekly-Weekday-What-To-Do (12.28-31.15)." Enjoy theatre, open mics, music, art, and tastings in the Burg this year with your friends and family.

 

Courtesy of J&S Signs