Gallup: Only 50% of Americans Believe It’s a Good Time to Buy a Home, an All-Time Low

Americans have quickly soured on the prospects of the nation’s real-estate market as the coronavirus pandemic has swept the country. The post Gallup: Only 50% of Americans Believe It’s a Good Time to Buy a Home, an All-Time Low appeared first on Real Estate News & Insights | realtor.com®.

Gallup: Only 50% of Americans Believe It’s a Good Time to Buy a Home, an All-Time Low

Americans have quickly soured on the prospects of the nation’s real-estate market as the coronavirus pandemic has swept the country.

Only 50% of Americans said that now is a good time to buy a home, according to a survey of roughly 1,000 people released Friday by polling firm Gallup. That represents the lowest share of Americans to have a positive view on the country’s housing market in the time that Gallup has tracked people’s sentiments on real estate.

A year ago, 61% of Americans thought it was a good time to buy, while 36% said they believed it wasn’t. The previous low was set back in 2006 when only 52% of Americans thought it was a good time to buy amid the subprime mortgage-fueled housing bubble. Gallup began tracking American’s feelings on the housing market periodically back in the 1970s and has polled on this question annually since 2003.

Additionally, only 40% of Americans think that the average price of a home where they live will increase over the next year, down from 62% a year ago, despite some economists predicting that home prices will continue to rise, even amid the economic disruptions caused by the coronavirus pandemic.

The Gallup figures were yet another indication of how much the economic shutdown prompted by COVID-19, the disease caused by the novel coronavirus, has weighed on consumer confidence.

Home sales have come close to a standstill in many parts of the country. Social-distancing recommendations have significantly complicated real-estate agents’ ability to market homes, and home buyers face a more complicated process completing all the paperwork needed to buy a property. It has also gotten more difficult to get a mortgage.

Sellers, meanwhile, have refrained from listing their homes or pulled them from the market to avoid the possibility of needing to sell at a lower price.

Notably, the shift in sentiment was more prominent among homeowners (down 16 percentage points) than renters (down four percentage points). Renters were more pessimistic about the housing market during the Great Recession than they are now, while this year’s poll represents an all-time low among homeowners.

Republicans, people who live in the suburbs of large cities, and those whose annual income exceeds $100,000 were most upbeat, per Gallup’s survey.

The post Gallup: Only 50% of Americans Believe It’s a Good Time to Buy a Home, an All-Time Low appeared first on Real Estate News & Insights | realtor.com®.

Source : Realtor More   

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Get to the Point! Triangle House in Tarzana Is a Mind-Blowing Midcentury Design

A mind-blowing midcentury modern masterpiece has entered the market. Designed by Harry Gesner, the Triangle House is angling for a buyer with $4 million to spend. The post Get to the Point! Triangle House in Tarzana Is a Mind-Blowing Midcentury Design appeared first on Real Estate News & Insights | realtor.com®.

Get to the Point! Triangle House in Tarzana Is a Mind-Blowing Midcentury Design

A mind-blowing midcentury modern masterpiece has landed on the market in Southern California. Designed by the visionary architect Harry Gesner, the Triangle House in Tarzana, CA, is listed for $4 million.

“It’s probably one of the coolest properties I’ve ever seen,” says the listing agent Trisha Perez with Century 21 Everest. She and Gary Wolfe both hold the listing.

“It’s like you’re walking into art,” adds Perez.

She adds that the ingenious design creates the impression from the inside that you are at one with the natural world.

“You feel like you’re outside, because of the floor-to-ceiling windows and looking out to the huge trees and mountains.”

And despite the angled walls of glass throughout the residence, it’s totally protected from looky-loos.

“You’re in the middle of Tarzana, [yet] it’s a completely private home,” says Wolfe. “Ventura Boulevard is a mile away.”

The home is part futuristic fantasy, part villain’s lair from a James Bond movie, and its jaw-dropping features start with one of the wildest gates we’ve ever seen.

Gate to Triangle House

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Open sesame

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That eye-popping entry sets the tone for the home.

Built in 1960, the main house and replica mini-me guesthouse provide over 5,200 square feet of living space.

On the main level, an open concept plan features a sunken living room with a fireplace and dining area. There’s also a gourmet kitchen with Viking appliances, a huge island, and bamboo cabinetry, plus those endless walls of glass. 

There are four bedrooms, and the enviable master suite looks out to a wall of glass and opens to the outdoors. 

Down a staircase to the lower level, you’ll find a huge media room with a projector screen. Other amenities include a “futuristic” carport, wine cellar, and an integrated media system.

Triangle House in Tarzana, CA

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Gourmet kitchen

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Dining area

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Media room

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Sunken living room

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Bedroom

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Guesthouse

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Pool

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Set on 1.3 acres filled with lush landscaping, the grounds include a pool, sauna, and poolhouse, as well as multiple outdoor entertainment and dining areas.

The current owners purchased the home in 2015 for $2.7 million and didn’t need to do too much—the home had been refurbished by the previous owners.

They did update the kitchen cabinetry inside. Outside, they added drought-tolerant landscaping, including eucalyptus trees, succulents, bamboo, and sago palms around the pool.  

A special highlight of the property is the guesthouse, constructed as a smaller, mirror image of the main home. It has its own bathroom and is separated from the main house by outdoor seating areas and a fire pit.

The backstory of the architect, Gesner, who is now 94, is just as dramatic as his architecture.

According to a profile in the New York Times, “Mr. Gesner surfs and water-skis like a pro; he survived Normandy, though he nearly lost both legs; he audited architecture classes at Yale, turning down a chance to study with Frank Lloyd Wright, who admired his drawings; he tussled with leading men, like Marlon Brando and Errol Flynn, and fell in love with leading ladies, like a young June Lockhart.”

Gesner may be best known for the iconic Wave House in Malibu (he still lives nearby), which was recently featured in “Yesterday,” the movie based on the music of the Beatles.

The post Get to the Point! Triangle House in Tarzana Is a Mind-Blowing Midcentury Design appeared first on Real Estate News & Insights | realtor.com®.

Source : Realtor More   

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