Mortgage Daily

Zillow’s Mobile Real Estate Apps Help Sell Homes & Generate Business to Agents

Fri, 11 May 2012 16:25:03 +0000

The Zillow Mobile App is one of the most popular real estate apps across every platform, including iPad , iPhone , Kindle Fire , BlackBerry , Android , Windows Phone and Android Tablet . Did you know that in April, 150 million homes were viewed on Zillow Mobile? That means 58 homes per second. Now, more than 30% of Zillow’s traffic comes from a mobile device; on weekends, it’s over 40% *. Here are some tips for Zillow Premier Agents using the Zillow Mobile Apps on any of the above platforms: Download the app to your own device so you understand how your clients are using it. Respond to mobile contacts within 2-5 minutes, they are mobile and in your neighborhoods and communities. Use the built-in GPS mapping tool to explore “farming” opportunities in your local communities. Access local real estate listings and Zestimate home values on over 100,000,000 homes right from your hands. Android users and iPhone users now have access to the Zillow Mortgage Marketplace App. Get real-time rates, easy-to-use calculators and more on the elegantly designed mortgage app. Search apartments for rent , homes for rent, condos, townhouses and more on-the-go using the Zillow Rentals App for Android. The rental market is hot and on-the-go. Draw your preferred neighborhoods and custom searches with your finger on a map. ( not available on all devices ) Share homes via email, Facebook, and Twitter and connect with prospects in your local market. Zillow’s Mobile real estate apps are helping local agents generate more contacts and business. Zillow Premier Agents are showing up all over Zillow and on the popular mobile apps as the local real estate experts and go-to professionals. These agents have the best opportunity to convert mobile Zillow app users, from every platform, into long term valued clients. The app is FREE to download, the reach is to millions, but the rewards and results… priceless. > Get Your Zillow Mobile App here *Source: Google Analytics, April 2012

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Zillow’s Mobile Real Estate Apps Help Sell Homes & Generate Business to Agents

How Does a Lender Evaluate Your Borrowing Ability?

Fri, 16 Mar 2012 12:37:39 +0000

If you are thinking about buying a home , one of the first things you should do is go to a lender to get pre-approved . This will determine how much money you can borrow on a mortgage . This will also help you filter your home search by sale price , which will narrow your choices within your financing range. So how does a lender evaluate — called underwriting — and determine how much you can borrow? It involves the three C’s: Credit, capacity and collateral! Credit or FICO Score The first item a lender will review is your credit profile, also known as your credit score or FICO score . This can range from 350 – 850. This is where all the decisions you’ve made in the past regarding will be reflected, such as: How much debt you have outstanding How much debt you have outstanding as a percentage of open credit accounts How much debt you have in the different types of credit accounts (credit cards, car loans, school loans, etc.) How well you’ve paid your bills over the years Lenders used to allow much lower credit scores for borrowing purposes, but they’ve gone up the past few years. You need, in general, at least a 640 FICO score to borrow on a loan. The optimal score is 740-760 or above. The lower your score, the higher your interest rate and points on your mortgage loan. [Related: Estimate your credit score ] Capacity or Income If you pass the FICO score test and the lender says you are creditworthy, the next item you will be evaluated for is your “capacity.” Capacity means that based on the lender’s allowed maximum percentage debt to your gross income, less all of your other debt payments, how much do you have available for a housing payment ? It also has to be stable income, such as $65,000 per year for two years in a row. Per the chart, you can generally have your total mortgage payment, less other debt payments, be up to about 35% to 40% of your gross income. In the chart the bank took 35% of this borrower’s $6,000 gross monthly income and subtracted out other debt payments to get a maximum allowed housing payment of $1,750. And that $1,750 equates to about a $225,000 house with a $200,000 mortgage (this means you will need to put down a downpayment of $25,000 to buy the $225,000 house) per the bottom of the chart. [Related: Get a free loan quote ] Collateral or the Property If you’ve got the credit, and the capacity, you only need one more piece and that’s the collateral. This is the easiest part. You will pay the bank and they will order an independent appraiser to determine a market value of the property . And the lender will lend you up to a certain percentage of that value (or purchase price whichever is lower) like 80% loan to value (LTV) or maybe 90% LTV or maybe up to 96.5% LTV. This depends on the bank and the loan program in which you qualify. So even if your income qualifies you for a higher loan amount, the MOST any one bank will lend you on any particular property is up to their maximum allowed loan to value percentage on that property. That’s it! If you’ve got credit, and capacity, go out and find the collateral! Leonard Baron, MBA, CPA, is a San Diego State University Lecturer, a Zillow Blogger, the author of several books including “Real Estate Ownership, Investment and Due Diligence 101 – A Smarter Way to Buy Real Estate.” Read useful tips for real estate buyers in his blog, Making Smart and Safe Real Estate Decisions . See more at ProfessorBaron.com. Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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How Does a Lender Evaluate Your Borrowing Ability?

How to Vet an Investment Property

Fri, 17 Feb 2012 11:47:13 +0000

Lower home prices and mortgage rates are causing many people to consider taking the real estate investment plunge. But as with any big financial investment, what may be a good strategy for some, may be harmful for others. Something to keep in mind: If you are planning on trading cash in lower risk CDs or bonds for real estate, you are trading into a dramatically higher risk asset. However, if if you do decide to jump into the investment property game, you should make sure to vet the property investments you plan to acquire to better increase the chances that the real estate you buy will increase your net wealth, not decrease it. This is, of course, assuming you already understand the most important item in investing: making sure the property you are buying is cash-flow positive based on conservative estimates, and provides you a fair rate of return on your investment. Read more about estimating cash-flow on properti es here . What other items and issues does a buyer need to review when buying an investment property? Home Inspection Most people know to always have a home inspection done when they are buying property. While a competent home inspector will note all the items working or not, the inspector is not pricing out the costs to get all those items repaired, nor other items like painting, flooring, etc. that you might plan to have done. It’s your job to put together a list of all the work and get with your contractor to price them out. Put that number into your financial analysis and note that properties in poor condition rarely sell at a large enough discount to compensate for all rehabilitation work that needs to be done! Title Abstract and Insurance When you buy property, a title policy protects you in case there is a title problem, like the seller’s ex-fiancée was a part owner in the property but didn’t sign off on the sale. In this case, it is the title insurer’s problem and they will cover costs to defend you and settle any dispute, up to the policy maximum limit, unless the title issue was “Excluded” from the title policy. The Schedule of Exclusions will note issues the title insurance policy will not cover, like recorded easements. It is vital to review the information there as well as in the title abstract. If there is a title issue that was “excluded” from coverage, it is your problem, not theirs . Survey, Plats, Legal Description Your land, lot, or condominium — plus parking spaces and storage — will also have a defined legal description of what you own. There may be a county plat showing it and/or you might want to have a survey done of the lot lines. Either way, you should walk the property and compare when you physically see to what is on the plat/survey to make sure you are comfortable that no neighbors’ fences, driveways, etc. are encroaching on your lot. If it is a condominium, make sure you review the recorded rights to your interior space, patios, parking spaces, storage, etc. Homeowners Association If you are buying a property in a common interest development like a condo or town home, you are not only buying your individual unit, you are buying into the larger entity. Thus, you are responsible for your share of the cost to pay for those, via HOA fees. There are many many risks related to HOAs, a few range from unfunded reserves for repairs and replacements to litigation and water issues. You can do analysis to better reduce your risk of buying into an HOA that is in a disastrous state, but you have to do the hard work of doing the proper due diligence. Financing You also need to make sure you are getting a fair deal on your mortgage financing . Just getting one bid from one lender is not good enough. Shop around to get pricing from at least two lenders and carefully compare those mortgage bids to determine which one gives you the best fees versus interest rate deal. It’s not easy to do as the Good Faith Estimate forms are quite complicated, but that’s no excuse for not doing the proper analysis. Insurance Lastly, do you have the proper type and amount of insurance coverage in place? Make sure to sit down with your insurance agent and determine what you need to be adequately covered. Look into umbrella policies as well as earthquake, interior condominium HO-6 policies and any other coverage you need. Pick your real estate agent ‘s brain so you have the proper coverage for your risks. A real estate investment, whether rental property or a home, is the largest, most complicated, and riskiest purchase you will ever make. Experienced investors know how to better reduce their exposure with the proper due diligence; you need to make sure you know how to do the proper steps too! It’s your money, and your retirement, at risk. You don’t want to find out, after disaster strikes, that you could have reviewed, analyzed, researched and done the hard work upfront to have protected yourself and avoided that issue from ever happening in the first place. Leonard Baron, MBA, CPA, is a San Diego State University Lecturer, a Zillow Blogger, the author of several books including “Real Estate Ownership, Investment and Due Diligence 101 – A Smarter Way to Buy Real Estate”, and loves kicking the tires of a good piece of dirt! See more at ProfessorBaron.com. Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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How to Vet an Investment Property

House of the Week: Wavy-Roofed Montana Retreat

Thu, 22 Dec 2011 15:18:22 +0000

Next Previous Picture 1 of 17 | Toggle Loading 90 S Fork Deep Creek Rd, Livingston MT For sale: $699,000 Talk about whimsical. Underneath the wavy roof of this picturesque Montana retreat sits an endless lap pool in the living room (yes, the living room) and the master bedroom is located within a grain-silo-like structure. It’s not your typical home on the range by any means. “The owner dictated what she wanted,” explained listing agent Tracy Raich. “It was all her idea.” With the grand Absaroka-Beartooth Mountains behind it, the metal and Douglas fir-clad 2-bedroom, 2-bath home blends into the rural landscape. An open floor plan gives the home a loft-like space with concrete floors, exposed beams and soft plaster walls — a space Raich describes as warm and “sun-drenched.” The waves of the roof are reflected in the curves of the ceiling in the main living area, which combines the living and dining room and kitchen. The bedrooms flank either side. At one corner of the living area is an endless lap pool framed in river stones. The master suite in the silo is connected to the main house by a hallway that contains the master bath with steam shower and marble bath. Windows and French doors open out from the silo into the yard. Situated on a little over two acres, Raich says the property has the allure of a Montana ranch without the responsibility. “It borders a 1,700-acre working ranch,” Raich said. “So you can enjoy all that but you don’t have to take care of it.” The home is also close to a trail head accessing Gallatin National Forest, 1.8-million acres of land in the Northern Rockies. But despite the proximity to Gallatin, the home is only ten miles from downtown Livingston. A location, says Raich, that is nearly as unique as the home. According to Zillow’s mortgage calculator , a monthly payment on the home would be $2,587, assuming a 20 percent down payment on a 30-year-mortgage .

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House of the Week: Wavy-Roofed Montana Retreat

Want to Make Smart Wealth Building Real Estate Decisions?

Sat, 26 Nov 2011 09:59:05 +0000

Making smart decisions when buying real estate , or for any large purchase for that matter, requires educating oneself on the process and risks and then taking the time to evaluate, analyze and mitigate those risks. The final analysis should then be used to make the best decision possible. When buying real estate, far too many Americans fail to take even the most basic levels of precaution by doing the proper due diligence. This is troubling because real estate is typically the largest and riskiest asset someone will ever buy. We’ve all learned this many times over in the last few years via the housing crisis, and it will continue happening until people better educate themselves on the real estate process and mitigate their risks. Flickr user alancleaver_2000 So what issues should a buyer should consider? Most of the items are not complicated, however running through the important tasks when you are actually buying property is time consuming and tedious. Realize if you fail to do the hard work involved to protect yourself, and something goes wrong, you only have yourself to blame. Doing the proper due diligence to lower your risk is the responsibility of you — the homeowner making the mortgage payment. Note: There is no risk-free real estate. Even the most diligent of buyers who do all the proper due diligence they know can lose money on some deals due to a variety of unknown, unanticipated, underestimated reasons; or simply bad luck. The main tasks to do when purchasing a property: (there may be more depending on your situation.) Purchasing process – Understanding the overall purchasing process Cash flows and returns – Penciling out an investment property cash flows and how much you will earn on your money Rent vs. own – Doing a financial analysis to see if purchasing makes sense for you Tax benefits picture – Understanding the tax benefits of owning real estate Mortgage financing – Properly evaluating mortgage financing options and offers Homeowners associations – Reviewing the homeowners association finances, operations and any litigation situation Home inspection – Using the home inspection information to make better decisions Dwelling and liability insurance – Do you have the proper type and amount of insurance in place Title insurance and escrow – Did you read through your title insurance policy and all the sales and escrow documents and ask questions if you did not understand Non-standard investments – understanding and possibly avoiding non-standard investments like land, second homes, vacation rentals, flipping property, etc. To help you better understand the process, join us for a free webinar on this topic at ZillowAcademy.com Monday, November 28 at 10 a.m. It will be 100 percent useful for buyers and sales professionals alike. > Register for Nov. 28 webinar Experienced buyers know how and take the proper steps to protect themselves on their largest and riskiest purchase; you should too! Leonard Baron, MBA, CPA, is a San Diego State University Lecturer, a Zillow Blogger, the author of several books including “Real Estate Ownership, Investment and Due Diligence 101 – A Smarter Way to Buy Real Estate”, and loves kicking the tires of a good piece of dirt! See more at ProfessorBaron.com . Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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Want to Make Smart Wealth Building Real Estate Decisions?

Buy and Bail? Or, Bail and Buy?

Tue, 04 Oct 2011 13:53:22 +0000

Have you heard the term “ buy and bail ” yet? In markets where home values have fallen significantly, many people are buying a new house and bailing on their current one. And even more people are asking questions and wondering if they can buy a new house and bail on their old one . Buy and Bail: Example of How it Works Joe Homeowner has seen home values in his area decrease by 50% in the last few years and as a result, he currently owes $400,000 on his home that is worth $200,000. Joe finds a home that is 5 miles away from his current home, is 1,500 square feet larger and with nicer upgrades than his current home selling for $300,000. Joe is the CEO of a small business, makes a good living and can qualify for both mortgage payments. He wants to know if it is possible to buy the new home, move into it and then do a short sale on his existing home or just let it go to foreclosure. This is a common scenario of what has come to be known as the buy and bail: buy a new home and bail on the old one. Because the buy and bail scenario has become more common, many lenders have put guidelines in place to try and prevent it from happening. Although the guidelines may vary by lender, just a few of the questions that Joe Homeowner may expect to be asked by the lender could include: Do you have equity in your existing house, or do you owe more than it is worth? Is the new house closer to your work? Is the new school district better than the old one? Are there sex offenders that have moved into your old neighborhood? Has your family size increased? Is the new home one level vs. two levels for your old house? Simply put: if Joe Homeowner applies for a mortgage for the new house, he can reasonably expect to be asked questions designed to prevent him from buying and bailing. If the new lender suspects that it is a buy and bail scenario, they most likely will not give him a loan for the new home — even though he may be able to qualify for it. Bail and Buy: An Alternative to Buy and Bail? What if Joe Homeowner applies for a loan and is denied because the lender suspected that he was trying to buy a new home and bail on his old home. Is he out of options? No. It is possible for Joe to bail on his current home and buy a new one, although probably not the superior house that Joe has his eye on. However it is possible to buy a home one day after short selling his current house if: Joe has made all of his mortgage payments in the previous 12 months prior to his short sale Joe has been current on all of his other payments in the previous 12 months prior to his short sale Joe is not buying a home that is superior to the home he short-sold in the same area. What FHA is concerned about is “taking advantage of declining market conditions” and it is what they are trying to prevent. With both the buy and bail and the bail and buy scenarios, there is a significant gray area that many people seem to have opinions on. Is it right to buy and bail? Is it wrong to buy and bail? I have heard arguments both ways. The real question is this: How many people who have bought a house in the last 12 months have short sold a house in the 12 months after they bought a house? I suspect it may be more than you think. Justin McHood works for Academy Mortgage and is based in Chandler, AZ. He is a contributor to Zillow Blog and has conversations about mortgages whenever he can. Learn more about Justin at http://www.mortgagecommentator.com .

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Buy and Bail? Or, Bail and Buy?

How to Cope With Uncertain Economic Times

Tue, 09 Aug 2011 10:52:32 +0000

The market’s getting hammered. Economic growth is essentially zilch. There are global concerns. Jobs are nearly impossible to come by. There’s growing talk about the possibility of a double dip recession. No wonder so many Americans are saying that the economy is making them sick. Here’s how to alleviate some of the anxiety to better cope with uncertain times: Protect your investments Hitting the panic button and letting your emotions get the best of you doesn’t do anyone any good, but truth be told: in a volatile environment like this, cash is king. Considering that a new bear market – a 20 percent drop from the stock market’s previous high – is a real possibility, consider bolstering your portfolio with dividend-paying blue chip stocks. Set up an emergency fund A study by the National Bureau of Economic Research shows that only about one third of Americans have an emergency fund, yet half those who have these funds say they would still struggle to come up with $2,000 in the event of an unexpected emergency, such as a job loss. That’s scary, considering that the average length of unemployment is now over 40 weeks, a record high. Prepare for possible rate hikes The S&P downgrade is not only bad for confidence and for the psyche of the American consumer, but it could also mean higher rates for everything from mortgages to auto loans to private student loans to credit card rates. Maintain good credit Right now, to get the best rates on loans, research from Zillow Mortgage Marketplace shows that you need a credit score of 720 or higher . Prior to the housing collapse, a score of 620 or higher qualified you for best rates. Until recently, a score of 680 was something to be proud of. Point being, credit is tight, and it could become even tighter with the S&P downgrade so it’s more important than ever that you maintain good credit. Looking for work? Cast a wide net Those who are fortunate enough to find work are trying entirely new things, expanding their skill sets and reinventing themselves. They’re setting themselves apart from the competition – some 14 million Americans are currently out of work – and looking beyond the full-time positions and toward contract/project work. Freelance work, as such, is not only the name of the game, but also the wave of future. In fact, a new report from The McKinsey Global Institute finds that that in the next five years, more than half of employers expect to rely more on temporary, part-time and contract workers for a variety of duties. Have a job? Work harder to keep it Announced job cuts were 60% higher in July than they were in June, according to Challenger, Gray & Christmas, an outplacement firm. They’re now at a 16-month high. This not only tells us about the state of the economy, but should also serve as a reminder that if you have a job, you should work harder to keep it. Stay visible, keep your skills up to date, take on new projects, initiatives, and maintain a positive attitude.

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How to Cope With Uncertain Economic Times

Celeb Tidbits: Cee Lo Leases from Frankie Muniz; Val Kilmer Under Contract; Dr. Phil Finds a Buyer; Nate Dogg’s Former Home in Foreclosure

Fri, 15 Apr 2011 17:03:47 +0000

Here are a few of celebrity real estate tidbits to munch on over the weekend: Source: Eurweb Cee Lo Leases from Frankie Muniz “Malcolm in the Middle” star Frankie Muniz didn’t find a buyer for his Hollywood Hills home , but he did find a renter. Muniz’s 4,200-sq ft pad (pictured above) caught the “crazy” eye of singer/songwriter Cee Lo Green who, according to The Los Angeles Times, is leasing the gated estate for $10,000/month. Prior to finding an interested tenant, Muniz’s former home had been sitting on the Hollywood Hills real estate market since October 2010, first listed for $3,295,000 then reduced to $3,195,000 in February 2011. See more photos of Cee Lo’s new Hollywood Hills rental Source: AceShowBiz Val Kilmer’s New Mexico Ranch Goes Under Contract After taking a cringe-worthy 44 percent price chop from its original 2009 asking price, The Wall Street Journal reports that Val Kilmer’s New Mexico Ranch finally found a buyer . The 6,000-acre property (pictured above) is reportedly listed as being “under contract” on the Sotheby’s website. The property was last listed at $18.5 million, down from the original $33 million price tag. The rumored buyer and sale price have yet to be disclosed. See more photos of Val Kilmer’s New Mexico Ranch Source: MediaOutrage Nate Dogg’s Home In Foreclosure According to TMZ, the recently deceased rapper, Nate Dogg (formally named Nathaniel Hale), was months behind on mortgage payments for his Pomona, CA home. Two days after his death, the hip-hop icon’s digs was foreclosed on due to back-payments totaling nearly $6,000. Foreclosures are, unfortunately, nothing new for the Pomona real estate market. Zillow Real Estate Market reports show that 1 out of every 500 homes in the area were foreclosed on in February 2011 . Nate Dogg passed away due to complications from multiple strokes. (See more celebrity foreclosures ). See Pomona homes for sale Source: E! Online Dr. Phil Makes a Price Cut, Finds a Buyer Apparently a price cut was the perfect diagnosis for Dr. Phil’s Beverly Hills estate (pictured above). After shaving $2.6 million off the original asking price of $16.5 million , the popular TV therapist found a buyer for the 8-bedroom Mediterranean-style mansion. Last listed at $13.9 million, The Wall Street Journal reports the home went into contract for an undisclosed price. See more photos of Dr. Phil’s Beverly Hills home

Celebrities and Their Rentals: Homes of Meg Ryan, Orlando Bloom, Nicole Kidman, and Others

Wed, 16 Mar 2011 12:08:27 +0000

They’re rich, they’re famous, and they’re renters? Despite bringing in seven-figure salaries, many celebrities choose to rent rather than own a home. On the flip side, celebs who are trying to sell their luxury estates, but can’t due to the rough housing market, have been forced to test the waters as landlords. Check out our round-up of celebrity renters and celebrity landlords — a group that is shifting the starlet standard of owning a multi-million dollar home and simultaneously proving even celebrities can’t hide from an unfavorable housing market. Source: SF Gate Diane Keaton Renting : Undisclosed amount in Bel Air, CA Diane Keaton is a notorious home restoration queen, buying and renovating homes all over California, many of which have attracted A-list buyers like Christina Ricci, Madonna, and “Glee” creator, Ryan Murphy. Her most recent house flips include a Spanish Colonial revival in Beverly Hills, and a Lloyd-Wright designed Pacific Palisades home. Both properties sold in September 2010 . Last month, Keaton added “renter” to her real estate resume. According to The Real Estalker, Keaton is currently leasing out Meg Ryan’s Bel Air residence (pictured above). Ms. Ryan first put the .73-acre Spanish-style estate up for sale in October with an asking price of $14.2 million, but after just two months on the market, Ryan switched her for-sale sign to for-rent and posted the 6-bedroom, 7-bathroom beauty for $40,000/month . Keaton took the property off her former “Hanging Up” castmate’s hands in January 2011, for an undisclosed monthly payment. Highlights of Keaton’s Bel Air rental include a living room, pub room, two family rooms, media room, two staff rooms, pool, and guesthouse. See more photos of Meg Ryan’s Bel Air rental Source: E! Online Meg Ryan Renting : $25,000/mo in New York City’s SoHo neighborhood As it turns out, Meg Ryan is not only a landlord but also a renter herself. According to the New York Post, Ryan signed a one-year lease for a trendy 3-bedroom unit in the Jean Nouvel-designed building in New York City’s SoHo neighborhood for around $25,000/month. Ryan’s Soho rental is not identical , but similar in layout to the 3-bedroom condo pictured above, and features 3.5 bathrooms and close to 2,500 sq ft. In addition to living in a glass-encased condo, Ryan enjoys star-status building amenities, like a 50-ft indoor lap pool, gym with steam room and sauna, private bar and lounge, and a 24-hour concierge service that will assist with anything from travel arrangements to personal shopping and pet care. See more photos of 40 Mercer condos Source: Celebrity News Buzz Orlando Bloom Landlord : $18,000/mo in Hollywood Hills, CA Actor Orlando Bloom , 34, has recently taken on a whole new world of responsibilities as hubby to new wife and Victoria Secret model, Miranda Kerr, and father to their first child , Flynn. While raising a baby is tough enough, Bloom is reportedly ready to take on the role of a landlord, placing his .75-acre compound on the rental market for $18,000/month. Orlando’s Hollywood Hills compound (pictured above) is a gated estate consisting of a 1-story, 3250-sq ft home with 4 bedrooms, 4 bathrooms, a gourmet kitchen, outdoor dining patio with built-in barbecue, library, and swimming pool. See more photos of Orlando Bloom’s rental Source: IMDb Lindsay Lohan Renting : Undisclosed amount in Venice, CA Celebrity media was all a-buzz when news spread that actress and courthouse frequenter, Lindsay Lohan , rented a Venice townhome right next door to her former girlfriend , DJ Samantha Ronson. It doesn’t seem like Lohan will be spending much time at her Venice rental , though. On Monday, the NY Daily News reported that Lohan headed back to her home in NYC to visit with family while she ponders accepting a plea bargain for her diamond-necklace theft case. Lohan’s rental (pictured above) boasts 3,100 sq ft, 4 bedrooms, 3.5 baths and is set just a few blocks back from the beach. The two-story townhome has city, mountain, and coastline views, a rooftop deck, and a variety of high-end finishes such as mahogany, Carrera marble, polished concrete, and tile mosaics. Read more about Lindsay Lohan’s Venice rental Source: IMDb Charlize Theron Dual-tracking : Landlord $50,000/mo, or Seller $7,500,000 in Malibu Noted as “originally the oldest home on La Costa Beach,” Charlize Theron’s Malibu home (pictured above) is open for any kind of occupancy — renters or new owners. The Academy Award-winning actress is dual-tracking her home, which means it is for sale for $7.5 million, or it can be yours as a Malibu rental for $50,000/month. Theron’s Malibu beachfront home , purchased with her ex Stuart Townsend for $3.5 million in 2003, features high ceilings, 3 bedrooms, 3.5 bathrooms, and an expansive deck that faces the water and includes a hot tub, fire pit, and an assortment of beach toys. See more photos of Charlize Theron’s Malibu home Source: Inquisitr Nicole Kidman Landlord : $45,000/mo in New York City’s West Village neighborhood In November 2010, Nicole Kidman put her 3,785-sq ft New York penthouse on the rental market for a whopping $45,000/month . The unit is no longer on the rental market, so we’re unsure if she rented it or merely took it off the market. Kidman’s New York rental (pictured above) has 3 bedrooms, 3.5 bathrooms, a chef’s kitchen, and floor-to-ceiling windows throughout, offering stunning views of the Hudson River. Kidman and country star husband Keith Urban, haven’t done much else to trim their real estate portfolio. The high-profile couple, who recently welcomed their second child to the family, still own another penthouse in New York, a 4,000-sq ft home in Beverly Glen, a mansion in Nashville, and two properties in Sydney. Read more about Nicole Kidman’s New York rental Source: The Inquisitr Brad Pitt & Angelina Jolie Renting : $60,000,000 in Lloyd Harbor, Long Island Brad Pitt and Angelina Jolie , popularly referred to as “Brangelina,” juggle their movie star schedules with a full plate of parenting. The Jolie-Pitt clan, which is made up of Brad and Angelina and their six children, Maddox, Pax, Zahara, Shiloh, Knox, and Vivienne, spend most of their days at their 5-lot compound in Hollywood Hills . Despite their ever-growing family, Brad and Angelina are still extremely active in their careers and, when it’s time to work on-location, they don’t leave their family behind. When a project takes Brangelina anywhere besides Los Angeles, Malibu, New Orleans, and New York City (where they currently own homes), the award-winning couple turns to the world of rental properties. One of their most recent rentals was a 48-acre waterfront estate on the North Shore of Long Island known a “Sassafras” (pictured above). According to The Huffington Post, they rented the property while Jolie was filming her 2010 flick “Salt.” The $60 million Lloyd Harbor rental includes a 22,000-sq ft Tudor-style main house, with 8 bedrooms, a separate 6-bedroom guest house, an 11-bedroom staff house, private dock, and two helipads. Source: IMDb Hollywood Party House For Rent : $34,995/mo in Hollywood Hills, CA Known as the Hollywood party house , this Hollywood Hills rental (pictured above) was built to give renters no choice but party until the wee hours of the night. Perhaps that’s why the furnished, 6,532-sq ft pad has attracted such tenants as Fabio, Def Jam co-founder Russell Simmons, and Sean “Diddy” Combs. According to the Los Angeles Times, the seven-level house is owned by glamour photographer Richard Franklin, who first put the property up for sale , asking $7.5 million. Now, the legendary house is looking for a short-term leaser willing to pay $34,995/month. The infamous house features a 2-story disco with programmable lighting and sound, a casino room with three tables, home theater with floor-to-ceiling movie screen, a dancing studio with pole, cave grotto with hot tub, 6 bathrooms, and 4 bedrooms all of which open to the outdoor swimming pool. A canopied deck tops of the pool area, where a spa, sauna, steam and shower room can also be conveniently found. See more photos of the Richard Franklin’s Hollywood party house Source: The Telegraph Mark Zuckerberg Renting : Undisclosed amount in College Terrace, CA Movie stars aren’t the only ones choosing monthly rent over a mortgage payment. Facebook co-founder and CEO, Mark Zuckerburg has been a long-time renter in College Terrace , a small neighborhood in the Palo Alto area where tech/startup companies are the lifeblood of Silicon Valley. Zuckerberg’s first College Terrace rental was a modest 4-bedroom, 3-bathroom home. He recently upgraded his humble abode to a 3,800-sq ft house (pictured above) with 5 bedrooms and 4 bathrooms. The ultimate perk of Zuckerberg’s new rental : It’s just steps away from Facebook Headquarters. Read more about Zuckerberg’s College Terrace rental Photo courtesy of Atlanta Fine Homes Source: IMDb Queen Latifah Renting : $10,000/mo in Atlanta Iconic actress-turned-fitness-video-maker Jane Fonda , has been struggling to sell her North Atlanta loft (pictured above) for over a year, first listing the home for $4.5 million with an adjoining $10,000/month rental price. With no takers on her first listing price, Fonda drastically reduced the price tag to $1.95 million. The home is still exclusively listed for sale through Atlanta Fine Homes but according to AOL, actress/singer Queen Latifah took Fonda up on her rental offer, temporarily taking the 4,700-sq ft home off her hands at the end of January 2011. Latifah’s Atlanta rental is a two-story home, with an open floor plan, 3 bedrooms, 3 bathrooms, two fireplaces, two balconies, underground parking for 4 cars, and expansive views of downtown and midtown Atlanta. See more photos of Jane Fonda’s Atlanta rental Read more celebrity real estate news : > Homes of Tech Titans > Homes of 2010 Golden Globe Nominees > Homes of Academy Award Nominees > Homes of Grammy Award Nominees > Celebrity Price Cuts

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Celebrities and Their Rentals: Homes of Meg Ryan, Orlando Bloom, Nicole Kidman, and Others

Celebrities and Their Rentals: Homes of Meg Ryan, Orlando Bloom, Nicole Kidman, and Others

Wed, 16 Mar 2011 12:08:27 +0000

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Celebrities and Their Rentals: Homes of Meg Ryan, Orlando Bloom, Nicole Kidman, and Others