‘Million Dollar Listing Los Angeles’ star and luxury real estate agent Josh Flagg weighs in on the life cycle of the booming housing market.
The luxury real estate market is still experiencing exponential demand and “Million Dollar Listing Los Angeles” star Josh Flagg told “The Claman Countdown” that people having extra money to spend is to credit.
“The bottom line is this: There’s a lot of money available,” he said. “People have money and I don’t know where it came from all of a sudden… You think during a pandemic, you know, the last thing you would think that people would be doing is buying real estate. It’s totally counterintuitive.”
Flagg repeated that he does not know where extra cash flow is coming from, but it’s evident that buyers are willing to spend it.
HOUSES IN THE HAMPTONS: A LOOK INTO LONG ISLAND’S LUXURY REAL ESTATE
“It’s incredible,” he said. “And remember, for a minute, the market in New York was down. Remember, right before COVID, it was soft. And then it popped up like crazy.”
According to Flagg, the state of the real estate market is seemingly unpredictable and anyone who argues otherwise is “full of it.”
“There’s no answer,” he said. “I mean — this could stop tomorrow. This could go for another 10 years.”
Since earlier on in the pandemic when urban residents flocked to the suburbs and demand was blatantly urgent, Flagg expressed that not much has changed. Even in his primary market of Beverly Hills, inventory is still low.
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In the last week, Flagg shared that he’s had four showings on a $30 million house which is practically unheard of in that high of a price range.
“I’ve never had four showings on the $30 million house before in my life,” he said. “Because there’s just not that many buyers at that price point… This is why people are having such a hard time getting houses because they’re being outbid left and right.”
‘Mansion Global’ explores Long Island’s luxury real estate listings.
Flagg promoted his new spinoff “Million Dollar Listings Los Angeles: Josh and Josh” which dives into the personal and professional lives of Flagg and real estate partner and former enemy Josh Altman.
“It took us a long time to get together. But now, you know, we’re best of friends,” he said. “We live a couple of blocks from each other. We’re on the phone three times a day. We do tons of business together. And this show is different, I guess, also, from “Million Dollar Listing” because it’s really focused on listings that are outside of Los Angeles.”
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A Colorado couple accused of stealing more than $2 million worth of real estate from a local man, then possibly planning to flee to non-extradition countries such as Cuba, Venezuela, or the African archipelago of Cape Verde, have been named as suspects in his mysterious death.
Earlier this month, police in Longmont, Colorado arrested Savuth Yin, 26, and Yulisa Yin, 24, who are accused of forging deeds to illegally transfer ownership of multiple properties owned by 77-year-old Fred Oelke, a real estate broker whose body was found on Sept. 15 and identified publicly by authorities on Wednesday.
Although cops have not yet revealed any information about the cause and manner of Oelke’s demise, or whether they believe there was foul play involved, bond motions filed in court by the Boulder County District Attorney’s Office and cited by local outlets state that both Yins are suspects “in a death investigation surrounding the suspicious death and attempted cover-up of the death of Fred Oelke.”
According to a Nov. 12 arrest affidavit obtained by The Daily Beast, the bizarre series of events began Sept. 14, when a funeral home in Longmont “received several emails and phone calls from someone suggesting they were related or connected to a male who had died in his home.”
The person was insistent that the funeral home “immediately cremate him,” and offered to pay extra for expedited service. Suspicious, the funeral home called police the next day. When cops arrived at Oelke’s residence, they found him dead.
“Fred lives alone therefore it is unknown who was aware Fred was deceased inside and why the person(s) did not call police directly,” the affidavit states.
On Oct. 29, a Longmont police investigator interviewed one of Oelke’s tenants, Laurie Lapinski, who said she had received a number of strange phone calls from someone calling himself “Fredrick Hampton.” Hampton told Lapinski that he was handling all of Oelke’s affairs now that he was deceased, and told Lapinski that she was going to have to move out. After Hampton returned her rental deposit by leaving money orders in her mailbox, Lapinski called the Boulder County Recorder’s Office to find out who actually owned the home she was living in, according to the arrest affidavit.
Lapinski was told that numerous quitclaim deeds—that is, property transfers—had been filed for Oelke’s properties by a “Nathaniel Turner,” and were transferred to an LLC. The investigator contacted the rest of Oelke’s tenants, who all had similar stories about being contacted by Hampton and told to vacate the premises. Lapinski did not respond to a request for comment.
A longtime friend of Oelke’s, Thomas Dunn, told police that Oelke owned seven homes in the area, six of which he rented out. Dunn, who spoke at Oelke’s funeral and was named Oelke’s personal representative by the Boulder County Courts after Oelke’s death, said he had been unable to locate any of the keys to Oelke’s properties or any of the leases. Dunn told investigators that he thought someone had broken into Oelke’s home and stolen the items, in addition to the titles for two of Oelke’s cars.
Detectives obtained copies of the quitclaims, which transferred ownership of Oelke’s properties, all worth several hundred thousand dollars, to Savuth Yin for $0. They had the signatures of Oelke and his ex-wife Karen. But Karen Oelke, who did not respond to The Daily Beast’s request for comment, told police that she hadn’t signed any quitclaims, and that Oelke had bought out her shares in the properties in 2012, when they divorced. The signatures on the quitclaims weren’t hers or Oelke’s, she said. Furthermore, the affidavit says, the signatures had been verified by notaries who didn’t exist, according to the State of Colorado’s licensing database.
Total loss: $2.875 million.
Police followed the money, and found the LLC that now owned the properties had been set up on Oct. 5, nearly three weeks after Oelke’s remains were discovered. The LLC’s setup fees were paid with a MasterCard issued to Nathaniel Turner, and the entity was linked to a Longmont, Colorado cleaning company owned by Yulisa Yin. Detectives recognized Yin as one of Oelke’s renters, and learned that Yulisa Yin had just received her associate-level real estate broker’s license on Sept. 23.
On Nov. 10, police executed a search warrant at the Yins’ home. The pair refused to speak to investigators, who found paperwork inside the house revealing that the Yins—whose cleaning company received more than $14,000 in PPP loans this year—were being sued civilly by Oelke’s estate, along with several firearms hidden in the couch cushions, a handgun with the serial number filed off, the MasterCard used to establish the LLC, and four notary stamps in the name “Samantha Smith,” one of the nonexistent notaries seen in the phony quitclaim deeds.
Cops also found a notebook on the front table, which contained a raft of disturbing entries, according to the affidavit.
A handwritten checklist indicated the Yins intended to get passports, hire an attorney and settle the lawsuit, pay off debts, sell everything, and “leave in 2-3 months.”
A second page was titled, “Asylum,” and listed Cuba, Brazil, Cape Verde Islands, Venezuela, Ecuador, and “Costa Rica (maybe).” Another column with the heading “No to these places” listed three other South American countries which are not identified in the affidavit.
“Due to these comments, I am concerned Yulisa and Savuth plan to leave the country,” concludes the affidavit, which is signed by Officer Rachael Sloan-Stogsdill.
The Yins were arrested and booked into the Boulder County Jail on Nov. 10. Although the DA asked for their bail to be set at $25,000 and for the duo to be put under electronic home monitoring as they posed an “extreme flight risk,” the judge released them on $500 cash bond each.
Oelke’s sister Lynn told The Daily Beast that she and the rest of the family “know nothing more about what happened to my brother then what was reported” in the news, saying that the police have “not given any updates.”
But Thomas Dunn, who recalled Oelke as a “great guy” who enjoyed fast cars and motorcycles, called the terms of the Yins’ release “appalling.”
“Fred was found dead in a [COVID] mask, and he never wore a mask,” Dunn told The Daily Beast, adding that Oelke told another friend right before he died that he was going to meet with some tenants who were behind on their rent. “That’s sort of suspicious right there,” said Dunn, who is wondering no one has been charged with Oelke’s murder.
“When the police first learned about these allegations, they moved quickly and put a lot of hard work into this case,” Shannon Carbone, spokeswoman for the Boulder County DA’s Office told The Daily Beast. “As a result, the District Attorney’s Office filed serious charges regarding the financial crimes. The investigation into the death is ongoing and our team is committed to reaching the right outcome.”
Dunn, who was reluctant to say too much because he doesn’t want to “piss the detectives off,” said Oelke, who drove a Ford Model T roadster in high school and bought a Corvette once he became successful, was well-known around Longmont. A pharmacist by training who grew up on a farm in North Dakota, Oelke started his career in real estate in the 1970s and at one time, employed 30-plus agents, according to Dunn.
“He was an upstanding, top-of-the-line realtor for 40 years,” Dunn said. “He always wore a nice suit, really super, super, super generous, kind guy.”
Some of those suits were later enjoyed by Regan Sample, a neighbor of Oelke’s who also sells real estate. When he was getting started in the business, Oelke was in the twilight of his own career and handed down a portion of his business wardrobe to Sample.
“He and I bonded on building our businesses up in a grassroots way,” Sample told The Daily Beast. “It’s such a sad way for someone’s life to end. This guy who’s done a lot of good in the community, just being left there like that.”
Savuth and Yulisa Yin, who do not have lawyers listed in court records and could not be reached, are scheduled to appear in court on Feb. 3.
Eco households are worth the financial investment for your conscience. But they will also pay out for by themselves above time.
As a culture, we are shifting towards a far more green way of living. But did you know that earning a few crucial dwelling improvements can make your home a lot greener but also help save you money? We deliver some terrific hacks under and some are lots of that will not expense the earth.
Photo voltaic Panels
Photo voltaic panels have been mainstream in British isles households for a lot more than 10 a long time and even though they could expense income upfront to install (about £6,000 to £8,000), they will help you save you all around £270 on your electric power bills per yr and also insert £12,000 to the over-all worth of your dwelling if you make your mind up to market just one day. You can also take into account putting in photo voltaic panels by yourself way too.
Photo voltaic panels change vitality from daylight into electrical power, creating your property greener by owning to use significantly less electric power. While solar panels can run the energy of your total property, you will almost certainly have to have some regular electric power far too supplied the amount of sunlight in the British isles!
Electrical power Productive Windows
Setting up double or triple glazing will hold the warmth in your property much a lot more successfully and conserve you income on your electrical power invoice. Effectively, they produce an insulating barrier that retains the warmth within the constructing – and you can select among uPVC or steel windows to be added inexperienced since these are equally recyclable.
Although this charges around £150 to £600 for each window, you can get a price cut by acquiring in bulk and it should decrease your strength bills all round by close to 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} for every thirty day period and 12 months.
Make Your Residence Hotter, The natural way
Some extremely small improvements can make your house warmer and for that reason decrease the need to have for employing your central heating. This features covering any drafts less than the doorways or home windows, with rugs, carpets or curtains. With some pure daylight every single day, think about opening your blinds and use this sunshine to warmth up your rooms.
Consider filling up some widespread places and rooms a bit a lot more – given that the busier they are, the significantly less drafty and hotter they can be.
Produce Your Personal Compost
If you like to garden and expend on fertiliser, you can help save income by developing your very own compost. Produce a mattress in the garden and include any leftover vegetables and fruit that you are not ingesting or have left more than and this can be utilised to help you save you hundreds on fertiliser each and every calendar year.
Use Efficient Appliances
From Strength Star ceiling enthusiasts, light-weight bulbs and refrigerators, there are a range of intelligent and greener additions to make all around the residence.
In simple fact, an Electrical power Star tankless water heater can save you above £1,600 above 5 years on your water invoice.
How Can You Fund Residence Enhancements?
Funding property improvements can be incredibly less costly and even just currently being smarter with your furnishings or appliances around the property.
Adding items like solar panels and windows can be an financial commitment, but it can enhance the worth of your household far too.
There are a number of dwelling enhancement loans alternatives obtainable, starting up from just a number of hundred kilos to a number of hundreds (if you are in the British isles)- with the choice to be unsecured or secured in opposition to your assets. With minimal prices from 2.8{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} APR, you can weigh up the potential charges and the personal savings you would make every yr and if you ended up to promote the home in the around or length future.
Political action committees have built far more than $3 million in unbiased expenditures in Seattle’s elections this 12 months, placing a record many thanks partly to a late surge run by donors from the actual estate and business worlds.
PACs with such donors have poured nearly $800,000 into races for mayor, city legal professional and Metropolis Council soon just before Tuesday’s ballot deadline, with Seattle for Typical Sense, Change Seattle and the Nationwide Association of Realtors Fund each and every reporting large expenses in the previous pair of months.
Their shelling out follows earlier, even bigger outlays by PACs dedicated to serving to mayoral candidates Bruce Harrell and M. Lorena González, with persons and labor unions creating massive checks in the method.
Independent expenditures have totaled about $3.4 million — just about triple the quantity in the city’s 2017 elections, when the same 4 positions were on the ballot. This sort of expenses cannot be coordinated with the actual candidates.
Seattle for Common Sense has notedinvesting about $360,000 since Oct. 12, with most of that flowing in the earlier 7 days. The dollars has typically been put in on mailers attacking city lawyer applicant Nicole Thomas-Kennedy.
The PAC has far more than 100 contributors, which include some compact donors. But most of the revenue has come in $5,000 to $25,000 checks. The prime donors are Goodman Serious Estate’s John Goodman Gordon Trucking’s Steve Gordon Vulcan Genuine Estate transportation-distribution organization Saltchuk authentic estate business Sabey Company Wright Runstad & Company’s Jon and Judith Runstad Microsoft President Brad Smith and investor Mikal Thomsen.
Improve Seattle has reported shelling out about $233,000 considering that Oct. 12, mainly on mailers attacking council applicant Nikkita Oliver. The PAC has more than 180 contributors, which includes a range of tiny donors.
The leading donors are Vulcan Saltchuk Jon and Judith Runstad Mariners co-proprietor Christopher Larson a PAC for Seattle resort and cafe homeowners a PAC for the Washington state chapter of the Commercial Serious Estate Growth Association and a PAC for the Washington Multi-Spouse and children Housing Association.
The Countrywide Association of Realtors Fund reported shelling out about $191,000 on Oct. 14, split amongst mailers and on the net advertisements supporting mayoral applicant Bruce Harrell and Oliver’s Situation 9 opponent, Sara Nelson.
Thomas-Kennedy, Oliver and incumbent Position 8 prospect Teresa Mosqueda held a information conference with labor leaders Monday to protest PAC spending by “bosses and landlords.” They and González have cast them selves towards Harrell, metropolis legal professional prospect Ann Davison, Nelson and Posture 8 applicant Kenneth Wilson. Those candidates have famous that their individual campaigns have support from a large assortment of individuals.
González, the council’s recent president, sponsored a legislation previous calendar year that prohibits organizations with overseas buyers, like Amazon, from earning impartial expenses on their personal or by means of PACs.
For substantially of the yr, there was reasonably even PAC spending, with Bruce Harrell for Seattle’s Upcoming paying marginally extra than $1 million for Harrell and against González, and Important Personnel for Lorena shelling out a bit fewer than $1 million for González and versus Harrell.
Quite a few leading donors to Bruce Harrell for Seattle’s Potential have also contributed to Seattle for Frequent Perception or Transform Seattle. Essential Workers for Lorena is funded by unions for lodge, supermarket and overall health treatment workers.
There are other PACs associated, spending fewer. For instance: A PAC involved with the union for Seattle firefighters has described spending extra than $100,000 just lately to guidance Harrell and Nelson, and a PAC partly funded by organizations involved with entrepreneur Nick Hanauer has reported paying out $86,000 for Oliver and versus Nelson.
Seattle candidates themselves have raised much more than $6 million this calendar year — also a report, with extra than $4 million of that collected by the 8 candidates on Tuesday’s general-election ballot.
Daniel Beekman: 206-464-2164 or dbeekman@seattletimes.comon Twitter: @dbeekman.Seattle Periods personnel reporter Daniel Beekman covers Seattle metropolis governing administration and neighborhood politics.
CHICAGO, Oct. 19, 2021 /PRNewswire/ — As if the COVID-associated offer chain disruption building it difficult to discover quite a few purchaser items hasn’t been lousy adequate, quite a few owners endured sticker shock when the selling price of lumber strike an all-time higher this spring, blowing development budgets and forcing folks to delay their residence improvement jobs. The charge of gasoline, food stuff products, and other commodities have also increased more than the last 12 months, and some areas of the place are expecting a rise in normal gas and energy rates. Inflation like this can set a major dent in domestic budgets, leaving many home owners to reconsider their ideas to establish a new residence or remodel an existing house.
The Homeowner’s Guideline to Contracting, Developing, and Transforming, by Joe Oswald
A new guide by house renovation enthusiast Joe Oswald aims at demonstrating house owners how to save dollars when constructing or remodeling devoid of sacrificing good quality by learning to control their costs. The Homeowner’s Tutorial to Contracting, Creating, and Remodeling: Conserve a Fortune Discovering What Contractors Never Want You to Know (ISBN-13: 978–9709734-4-3) was Amazon’s number a single new launch in April in their Dwelling Style and Development classification. The book follows Oswald’s renovation and subsequent making of a three-degree addition on to his 1929 Spanish Revival home in Chicago in which he acted as the standard contractor. The dwelling acquired rave reviews immediately after it was recently featured on the once-a-year Beverly/Morgan Park Household Tour.
According to Oswald, “The builder markup is the greatest magic formula in common contracting, and it is really potentially the most essential aspect in managing fees…Obtaining numerous estimates, ordering immediate from suppliers, and learning the correct expense of supplies and labor saved me a fortune.”
Oswald particulars the full venture which includes how he was capable to preserve tens of 1000’s of pounds in excess of estimates he acquired from normal contractors by staying away from builder markups, ordering his very own products, and employing his personal subcontractors. With expertise renovating a preceding residence and the understanding he had from having a basic contracting course and operating for a household developer yrs before, Oswald resolved to deal with the job himself, including planning the mechanical units, acquiring permits, and conference with property inspectors.
Arranged to go over the main phases of development and renovation, like development funding, the guide is entire with in excess of a hundred images, checklists, builder insights, and inspirational quotations.
Midwest E-book Review states: “Extremely nicely prepared structured and presented…a in depth and totally ‘user friendly’ educational guide.”
Architect Joe Carrol states: “A valuable guide to contracting, building, and renovating, house owners will surely profit from Joe Oswald’s knowledge and working experience.”
In addition to renovating properties, Oswald has taught background for around twenty several years and has created two other books like Chicago’s Beverly/Morgan Park Community and a vocabulary improvement book titled Vocabulary for Champions.
Readily available from Amazon, Barnes & Noble, local bookstores, and other vendors. For extra information go to www.joeoswald.com.
Media Speak to: Joe Oswald [email protected] 773-718-0006
