Follow in the Footsteps of Demi Lovato and Rent the ‘Invisible House’ in the Desert

If you’re looking for a secluded getaway, why not disappear into the 'Invisible House'? The sleek, mirrored building reflects its desert surroundings.  The post Follow in the Footsteps of Demi Lovato and Rent the ‘Invisible House’ in the Desert appeared first on Real Estate News & Insights | realtor.com®.

Follow in the Footsteps of Demi Lovato and Rent the ‘Invisible House’ in the Desert

If you’re looking for an ultra-secluded getaway, why not simply disappear into the Invisible House?

A mirrored modern building, the vanishing dwelling blends in seamlessly with its desert surroundings. The shimmering surface reflects the natural beauty of the land and renders it a part of the landscape.

Located adjacent to Joshua Tree National Park, it’s the sleekest desert getaway we’ve ever seen. 

The pop star Demi Lovato recently made headlines when she and her actor boyfriend, Max Ehrich, stayed at the Joshua Tree, CA, hideaway for a weekend, reportedly dropping $2,500 a night for the privilege, according to TMZ. 

Of course, the couple posted pictures of the Instagram-friendly home on social media. One snap showed Ehrich sitting in the cavernous living room, complete with 100-foot indoor pool.

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But the one-of-a-kind getaway isn’t reserved just for celebs—anyone can rent it. That is, if you’re willing to plunk down $35,000 for a one-month commitment. Suffice it to say, it will be an unforgettable getaway if you have the dough.

The eye-catching architectural wonder can also be rented out for short-term rentals, special events, and film shoots.

Its photogenic appearance is no accident. Designed by the Los Angeles-based film producer Chris Hanley, and the architect Tomas Osinski, the three-bedroom, four-bathroom property features an elongated, minimalist design spanning 5,500 square feet. A separate prefab house on wheels serves as guest quarters.

“There’s nothing else like it,” says the listing agent, Raymond Dominguez with Engel & Völkers Santa Monica. “It’s a rental, sure, but it’s also an experience.”

A vision began 14 years ago with desert land purchased by Hanley and his wife, Roberta. The Invisible House is the end result of a six-year project to create an environmentally sustainable and artful living space.

A cantilever system ensures that the structure leaves a minimal footprint on the desert ground. Smart and sustainable, the home includes solar and thermal systems.

Invisible House

Petr Masek

Living room with pool

Brian Ashby

Open kitchen

Brian Ashby

Bedroom with glass bed

Brian Ashby

Light show at night

Brian Ashby

The horizontal layout allows for the eye-popping indoor pool in the living room. A west-facing glass wall completely opens to the outdoor expanse.

At night, the pool puts on a light show, competing with the starry night sky and flooding the space with shades of blue, red, green, and violet. A massive white wall at one end of the pool can serve as a screen for video projection. 

Other details include concrete floors, 11-foot ceilings, and a designer kitchen. The open cooking and dining area is set up for small catered events, with two ovens, a warming drawer, as well as a separate fridge and freezer.

Sliding walls open up from all four bedrooms for uninterrupted desert views. The main suite includes a freestanding tub in the bedroom and a glass bed.

Set on 90 acres, this is the largest privately owned parcel of land to abut Joshua Tree National Park, according to the property’s website. It is also just 10 minutes from the shops, hotels, and restaurants of downtown Joshua Tree, and a two-hour drive from Los Angeles.

Drone footage courtesy of Petr Masek.

The post Follow in the Footsteps of Demi Lovato and Rent the ‘Invisible House’ in the Desert appeared first on Real Estate News & Insights | realtor.com®.

Source : Realtor More   

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Mortgage Rates Hit a Fresh Record Low Ahead of Fourth of July Weekend

Economists now say the average rate on the 30-year mortgage could possibly drop below 3%. The post Mortgage Rates Hit a Fresh Record Low Ahead of Fourth of July Weekend appeared first on Real Estate News & Insights | realtor.com®.

Mortgage Rates Hit a Fresh Record Low Ahead of Fourth of July Weekend

Could average mortgage rates drop below the 3% mark? If the recent trend continues, that’s a distinct possibility.

The 30-year fixed-rate mortgage averaged 3.07% for the week ending July 2, down six basis points from the week prior, Freddie Mac reported Thursday. In comparison, these loans had an average rate of 3.75% a year ago.

The 15-year fixed-rate mortgage dropped three basis points to an average of 2.56%, while the 5-year Treasury-indexed hybrid adjustable-rate mortgage fell by eight basis points to 3%.

The previous record low for the benchmark 30-year mortgage was set just two weeks ago at 3.13%. Mortgage rates have dropped to historic lows multiple times this year as the coronavirus pandemic has caused turmoil in markets and the economy.

This week, the decline in rates came “as investors reacted to the surge in COVID cases and the Federal Reserve’s concerned outlook for economic recovery,” said George Ratiu, a senior economist at Realtor.com. The drop came even though there were some positive indicators about the state of the economy, including the rise in pending home sales and consumer confidence.

(Realtor.com is operated by News Corp subsidiary Move Inc., and MarketWatch is a unit of Dow Jones, which is also a subsidiary of News Corp.)

When the coronavirus outbreak first began worsening in the U.S., many mortgage and real-estate experts ruled out the possibility of rates dropping below that threshold.

But now rates on the 30-year loan are standing at the precipice of the 3% mark. “Mortgage rates continue to slowly drift downward with a distinct possibility that the average 30-year fixed-rate mortgage could dip below 3 percent later this year,” said Sam Khater, Freddie Mac’s chief economist, in this week’s report.

The trajectory of rates will largely depend on the direction the recovery from the pandemic takes. Many states across the country have seen a surge in COVID-19 cases recently.

And some of those states were driving the rebound in the housing market that began taking shape back in May. A report released this week by the housing data provider HouseCanary found that Florida and Texas were leading the country in terms of elevated demand for homes at the end of June.

Both states have seen thousands of new COVID-19 cases on a daily basis in recent weeks, though, suggesting that the surge in coronavirus infections might threaten the housing market’s rebound.

And record-low mortgage rates aren’t having the same boost to consumer interest that they usually do. Last week, the number of applications for mortgages used to purchase homes dropped, according to data from the Mortgage Bankers Association.

“Getting approved for a loan is proving to be a difficult challenge for many, especially first-time homebuyers who struggle to come up with a 20% down payment,” Ratiu said.

Lenders have raised their underwriting standards in the face of the economic downturn, which could limit how much of a stimulatory effect interest rates will have on the housing market.

The post Mortgage Rates Hit a Fresh Record Low Ahead of Fourth of July Weekend appeared first on Real Estate News & Insights | realtor.com®.

Source : Realtor More   

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