Tarek vs. Christina: Who’s better at flipping homes?

Former husband and wife Tarek El Moussa and Christina Hall are back together—and believe it or not, their new spouses are involved in the drama, too.

The former stars of “Flip or Flop” have agreed to appear in a new HGTV series, cheekily titled “The Flip Off,” where they vie to find, buy, renovate, and flip a house for the biggest profits.

As if competing with an ex isn’t complicated enough, their new spouses are not backing away from this fight: Tarek and Heather Rae El Moussa will go head to head (or sledgehammer to sledgehammer) with Christina and Josh Hall in the new series, slated to air on HGTV in early 2025.

Full story: https://rltor.cm/sw2ode

Would you live in this skinny house?

A leftover plot of land in Florida was used to build this two-story skinny house and it listed for $619,000.

A vacant lot that used to be a neighbor's garden is now the site of a charming 1,547-square-foot home, cleverly designed on a narrow 25-foot-wide lot.

Despite some initial neighborhood concerns raised at a public hearing, including objections from a neighboring gardener, the builders were able to create a cozy home within the 10-foot width limitation (instead of the desired 15 feet), and it has since found eager buyers.

Peek inside the home 👀 https://rltor.cm/2w6oby

1 in 10 homebuyers is holding on to the real estate they already own—and could become a whole new generation of de facto landlords.

Chris L. and his husband purchased their first home together in September 2023, prompting the question of what to do with Chris's townhouse purchased nine years earlier. Despite being more modest than their new home, the townhouse boasts a low 2.65% mortgage rate.

Instead of selling, Chris opted to rent it out.

Their new $1.35 million home carries a 7.5% mortgage costing around $7,000 per month. Renting out the townhome for $3,200 monthly covers its $1,670 mortgage, providing additional income for their new home's expenses.

Chris's decision reflects the current housing market, where mortgage rates have risen above 7%. Homeowners fortunate to have secured low rates in 2021–22 are holding onto properties and renting them out.

Full story: https://rltor.cm/vx2mle

The nation's top housing market to watch is Rockford, Illinois.

This midsized city in northern Illinois topped the annual The Wall Street Journal/Realtor.com Housing Market Ranking list. The list identified some of the strongest housing markets in the nation that are poised to continue growing in the coming months.

The ranking looked at the 200 largest metropolitan areas and weighed real estate demand; housing inventory; median days on the market; price trends; property taxes; climate risks; unemployment rate; wages; regional price parities; percentage of foreign-born residents; small businesses; amenities; and commute times in these areas.

These places also offer more affordably priced housing. Three-quarters of the top 20 markets boasted price tags below the national median list price of $424,900.

Markets on the rise:
1. Rockford, IL
2. Canton, OH
3. Ann Arbor, MI
4. Akron, OH
5. Springfield, MO

See the entire list here: https://rltor.cm/us3j60

Millennials are facing a staggering reality: homes are now nearly 80% pricier for them than they were for baby boomers when they were in their 30s, adjusting for typical income levels.

Back in 2022, when the majority of millennials were hitting their 30s, the median home price soared to 6.3x the median household income. To put numbers to it, the median household income stood at $74,580, while the median home price skyrocketed to $468,000.

If the current trend persist, by 2030, the median home will ring in at a whopping 6.9x the median household income. Fast forward to 2050, and the median home would cost 8.4x the median household income.

See what salary you would need to earn to buy a home in every state: https://rltor.cm/7n7jpm

What's better?

A. PJs all day
B. No cooking
C. Empty laundry basket
D. House all to yourself

Did you know 'The Money Pit' home was an actual fixer upper house just outside New York City?

Bought: $2.125m (2002)
Renovation cost: $5.9m (2002-2003)
List price: $12.5m (2014)
Sold price: $3.5m (2019)
Relisted: $$6.9m (2020)

Built in 1898, the house was purchased in 2002 for $2,125,000 by Christina and Rich Makowsky. While the couple knew the house was old and had heard of its ties to the infamous film, they figured the home’s flaws were mostly fiction—only to be proved wrong once they moved in.

The Makowskys hired a construction crew of 30 to renovate the house for over a year and a half, spending a total of $5.9 million to add en suite bedrooms, an elegant pool (complete with a pool house), stunning fireplaces, and a modern, open kitchen, all on 5.5 acres of land. So when the Makowskys decided to list the house in 2014, they felt justified in asking for the purchase price of $12.5 million.

Yet there it sat with no buyers, despite numerous price cuts, for five years. At long last, it sold for $3.5 million in 2019. Since then, the house has been on and off the market between 2020-2022 with list prices between $4.5 million to $6.9 million.

Full story: https://rltor.cm/e047kc

Black's Island, a 7-acre private getaway off Florida's Gulf Coast, once home to the notorious pirate Black Sam Bellamy, is now on the market for $50 million.

This historic retreat features 26 unique waterfront bungalows, a clubhouse, cabana, and pool—all connected by a scenic 1,200-foot boardwalk. Originally the haunt of the "Robin Hood of Pirates," this secluded paradise, only accessible by boat, seaplane, or helicopter, offers potential as a commercial resort or private estate.

According to Mansion Global, the seller, Atlanta developer Scott Seymour, said he will sell the entire island or individual bungalows, starting at $1.5 million to $1.6 million each. These turnkey bungalows, having weathered the fury of Hurricane Michael in 2018, are fully furnished and hurricane-resistant, ready to be enjoyed as part of a commercial resort or transformed into an opulent family retreat.

See the bungalow listing: https://rltor.cm/9vnbd8

This week on house hunters 🫢

John and Melody Hennessee retired with dreams of world travel. Luckily, they found the perfect home: a cabin on Storylines’ MV Narrative, a luxury residential cruise liner launching in 2027. They secured unit RU-3 with a $10,000 deposit. This one-bedroom, 1.5-bath apartment with a balcony costs $2.7 million.

Despite Florida's appeal with its upscale 55-plus communities, the Hennessees preferred life at sea. Melody, 65, a former real estate agent, explains, "We'd never live in a retirement community. We're kids at heart. We don't realize our age."

See inside the cruise ship: https://rltor.cm/0t700d