Thursday, 2 July 2020

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

Invisible house

Petr Masek

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.

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

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Bedroom with glass bed

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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 https://www.realtor.com/news/unique-homes/demi-lovato-rented-the-invisible-house-joshua-tree/

Wednesday, 1 July 2020

This New Credit Score Could Help More Home Buyers Receive Mortgages

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With the U.S. mired in a recession and unemployment at its highest level since the Great Depression, many lenders have turned off the credit spigot for all but the most qualified borrowers. So despite record-low mortgage interest rates, many would-be home buyers have been left frustrated.

A new credit index released by Fair Isaac Corp. this week could change that, potentially making it easier for borrowers to score a loan. The company also produces the widely used FICO credit score.

The FICO Resilience Index is intended to help lenders assess the ability of a borrower to withstand an economic downturn—even those with lower credit scores. It was designed to encourage lenders to continue making loans without raising minimum credit score requirements and other criteria. Lenders can use the score produced by the Resilience Index in addition to the regular FICO score.

“Our hope is that it will allow lenders to continue to be able to make prudent loans,” says Joanne Gaskin, vice president of scores and analytics at FICO. “Lenders are going to feel more comfortable continuing to approve borrowers rather than denying” them.

During the last recession, millions of consumers with lower credit scores still met their financial obligations, according to the company.

“It’s a step in the right direction,” says realtor.com Senior Economist George Ratiu. “Just one number, the traditional FICO score, shouldn’t be the sole metric in determining a borrower’s ability to repay a loan.”

Lenders are a bit skittish given the economic climate. Credit scores do not reflect whether homeowners are receiving mortgage forbearance because of pandemic-induced hardship.

“For a lot of lenders in the current environment, the FICO score is not a clear indicator of a consumer’s current financial health,” says Ratiu.

The new FICO score could relieve some of their concerns. It will place less weight on missed payments and more emphasis on lower account balances and credit utilization, says Gaskin. It does not factor in how much money someone has stashed in their savings account.

“It makes sense that these are consumers who have a cushion going into an economic downturn,” says Gaskin.

But the new scores may not benefit everyone equally—which could be especially hard on people of color, says Stephen Ross, an economics professor at the University of Connecticut. He is also co-author of “The Color of Credit: Mortgage Discrimination, Research Methodology, and Fair-Lending Enforcement.”

“It will certainly change who gets loans in a recession,” says Ross. “We know minority borrowers tend to have bigger income losses and more periods of unemployment during economic downturns.”

The post This New Credit Score Could Help More Home Buyers Receive Mortgages appeared first on Real Estate News & Insights | realtor.com®.



source https://www.realtor.com/news/trends/new-fico-score-resiliency/

Spurs Coach Gregg Popovich Cuts Price of San Antonio Mansion to $3.1M

Gregg Popovich San Antonio house

realtor.com, Edward A. Ornelas/Getty Images

The coach of the San Antonio Spurs, Gregg Popovich, has drawn up a new strategy for selling his Texas home. The San Antonio mansion has been listed with another price cut. It’s now priced to sell at $3.1 million.

A year ago, Coach Pop had offered the massive mansion in a gated community for $3.5 million. But a year later, with no takers, he’s cut the price yet again.

The Texas-sized residence was purchased in 2005, and first came to market in 2019, with a $4.5 million price tag. So it seems that the legendary NBA coach, who’s very used to winning, has met his match on the real estate front.

Gregg Popovich’s mansion in San Antonio

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Living room

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Dining room

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Chef’s kitchen and breakfast nook

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Game room

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Covered wraparound balcony

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Bedroom

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Wine cellar

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The home was built in 1999, and the listing details call it one of “San Antonio’s most exclusive estates.” It features 9,640 square feet of living space, with four bedrooms and 5.5 bathrooms. 

The custom-built structure features walls of glass and natural light. An open floor plan includes a living room with soaring ceilings and a formal dining room. The kitchen, equipped with everything a home chef could desire, opens to a breakfast nook.

A spacious owner’s suite includes a spalike bath with separate vanities and dual closets. All guest bedrooms are also en suite. 

From the in-house elevator, head to the upstairs guest bedrooms, an oversized game room with a bar, and a workout room. Take in the surroundings from the wraparound balconies. 

Set on 2.62 acres, the picturesque property includes slate hard decking, grassy lawns, a full outdoor summer kitchen, and a vanishing-edge pool. 

For the serious wine lover, a “dream cellar” has been placed past the pool, built from reclaimed Jerusalem stone. The 600-square-foot, temperature-controlled storage space can hold over 3,000 bottles. The coach himself is a well-known oenophile.

Popovich, 71, is considered to be “one of the best and most respected coaches in NBA and sports history.” As coach of the Spurs for the past 23 seasons, he has led the team to five NBA titles.

Binkan Cinaroglu with Kuper Sotheby’s International Realty holds the listing.

The post Spurs Coach Gregg Popovich Cuts Price of San Antonio Mansion to $3.1M appeared first on Real Estate News & Insights | realtor.com®.



source https://www.realtor.com/news/celebrity-real-estate/gregg-popovich-cuts-the-price-of-his-san-antonio-mansion-again/

1970s Time Capsule in Santa Rosa, CA, Evokes ‘Emotional Response’ From Potential Buyers

Santa Rosa time capsule

realtor.com

A home near dozens of wineries in Santa Rosa, CA, is up for sale at a competitive price—but there’s a catch.

“It’s definitely unique,” says listing agent Ben LeBerthon of the home on Zieber Road, which is listed for $1,259,950. He reports that 80% of the people who come to view the house don’t seem to warm to it.

“It sure does seem to evoke an emotional response from people,” he says.

The home has a wealth of custom stylings. Built in 1974, by an architectural engineer, Ken DeBaun, and his wife, it is filled with wood, stone, and iron.

It took two years to complete and features three bedrooms, three bathrooms, and 4,850 square feet of living space on 1.38 acres.

“It was done to a very, very high standard, really nice, well-built, good quality home, but by today’s standards, people aren’t necessarily looking for the same things,” LeBerthon explains.

While the materials used were of excellent quality, the overall effect is a home frozen in amber. The use of dark woods and heavy ironwork conveys a certain austerity.

The agent told us, “It’s a very masculine home. I’ve heard anything from Playboy Mansion to Batcave on this one.”

A huge chandelier in the entryway was custom-built in Mexico, and the ironwork was all hand-wrought in the house. The woodwork, too, was all done by hand.

Interior

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Exterior

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Interior

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In 1999, the original owners sold it to the current owners. Since then, the interiors haven’t changed much.

New granite countertops in the kitchen and bathrooms were added, however, as well as new stainless-steel appliances in the kitchen.

Kitchen

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For the most part, the structural integrity of the house was left unchanged, LeBerthon says.

“It’s the original pavers for the floors. You’ve got the conversation pit. You’ve got the original fireplaces.”

The home had a price reduction a couple of months ago—its first since it went on the market in June 2018 for just under $1.7 million.

“[The owners] are getting much more realistic about how people are viewing their home. They realize it’s not for everybody, and that people want to do some remodeling, so I think we’ve got it priced pretty well now,” he says.

“There’s no way you could come even close to building this for what we’re selling it for. So even with a remodel, at this price, people are still in a really good place.”

Master bedroom

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The master bedroom has a unique teardrop fireplace and wooden bedframe. The bathroom has cabinets made of wormwood and copper.

Bathroom

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The home is quite secluded, with mature trees on a hill, in the neighborhood of Montecito Heights, where homes range from just under a million dollars to about $3 million.

“It is definitely not a subdivision with five floor plans that repeat over and over again. There’s anything from ’50s modern to newer construction,” LeBerthon notes.

The town of Santa Rosa is just minutes away. This area escaped the fires that ravaged Sonoma County in late 2017 and 2019.

Outdoor space

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There are lovely views from the back of the home and its outdoor patios.

“There is a combination of forest views and the open valley view, which will all be city light, lit up in the evening. You can see roughly from Petaluma to Windsor from this house,” LeBerthon says. In the back are an outdoor kitchen and greenhouse.

There’s been interest in the home as a vacation home or a remodel, he says.

“It just takes a little bit of artistic eye, because when you get into the house, it does feel a little bit dated.”

LeBerthon says there is plenty of space for a media room, wine cellar, or anything else a buyer wants to add.

All it takes is one purchaser to fall in love.

“It’s not going to appeal to the masses. It’s not a cookie-cutter, basic home. It is a unique home that someone’s got to really appreciate the style—and they’re out there,” says LeBerthon, who says he is confident that a buyer will come forward.

“It just takes a little bit longer when you’ve got a unique property.”

Interior

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Outdoor space

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Ironwork

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Upstairs

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Greenhouse

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Entry

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Interior

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Interior

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Exterior

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The post 1970s Time Capsule in Santa Rosa, CA, Evokes ‘Emotional Response’ From Potential Buyers appeared first on Real Estate News & Insights | realtor.com®.



source https://www.realtor.com/news/unique-homes/santa-rosa-time-capsule-home/

Take 2: Antonio Banderas Still Trying To Sell NYC Apartment for $7.4M

Antonio Banderas

Axelle/Bauer-Griffin/FilmMagic

The actor Antonio Banderas is taking another shot at selling his Manhattan co-op apartment, for $7.4 million.

The Spanish star and his wife at the time, Melanie Griffith, purchased the place in 2005 for $4 million. It originally went up for sale in May 2018 for $7.95 million. Two years later, the price of the four-bedroom residence has been reduced by 7%, but no buyer has stepped up as of yet.

Banderas’ apartment is in The Prasada building, one of the most desirable addresses on Central Park West.

The 12-floor prewar building was completed in 1907, and is directly across the street from the Park. There are about 40 units in the building, and for comparison’s sake, a much smaller one-bedroom unit in the building is currently on the market for $1.35 million.

The actor’s apartment is said to offer gorgeous Park views with “50 feet of picture windows overlooking the beautiful treetops of Central Park.”

As you step inside the living area, you’ll notice a fireplace flanked by built-in window seats, which provide ample access to the lovely views.

The living area flows into an intriguing formal dining area, which features a large bay window that focuses on the park. Eleven-foot ceilings give the apartment an airy and spacious feel.

Living room
Living room

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Kitchen
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Dining room
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The kitchen features custom cabinetry with stainless-steel appliances from SubZero and Wolf. A thoughtful layout provides ample space and separation between the apartment’s bedrooms and the entertaining and living spaces.

If the proximity to Central Park isn’t enough, residents can also take advantage of the building’s additional perks. The Prasada offers a full-time doorman, elevator operator, live-in resident manager, private storage, bike storage, and an exercise room. The stylish lobby has undergone a full renovation.

In 2014, Griffith filed for divorce from Banderas, after 18 years of marriage. The prolific actor has starred in over 100 films and earned his first Academy Award nomination for the 2019 film “Pain and Glory,” directed by Pedro Almodóvar.

Bernice Leventhal with Corcoran Group-West Side holds the listing.

The post Take 2: Antonio Banderas Still Trying To Sell NYC Apartment for $7.4M appeared first on Real Estate News & Insights | realtor.com®.



source https://www.realtor.com/news/celebrity-real-estate/antonio-banderas-still-trying-to-sell-nyc-apartment/

9 Surprising Facts About Tarek El Moussa That’ll Make You See Him in a Whole New Light

Tarek El Moussa

therealtarekelmoussa / Instagram

Tarek El Moussa has been an HGTV staple since “Flip or Flop” premiered in 2013. And even though he’s now divorced from his flipping partner Christina Anstead, their hit show is still going strong, with eight seasons (and counting) as well as various spinoffs, including one where El Moussa teaches aspiring real estate investors the ropes— “Flipping 101 With Tarek El Moussa.”

Over his many years on TV (and in the tabloids), fans may feel that they’ve gotten to know El Moussa pretty well. But even now, there’s a lot of hidden facets both old and new to this 38-year-old that might just throw you for a loop.

Curious about what you might be missing? Read on to find out more about El Moussa, including how his career started, what he’s up to now, and what he might be planning for the future.

1. He started out as a real estate agent

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I get comments all the time from you guys, wanting to know more about the materials we use in our flips on the shows! ⁣ ⁣ So if you’ve ever wanted to get the same style for your home… you can now!! ⁣ ⁣ At Cabinets by Tarek we have TONS of options in stock right now!! (including white shaker 🙌🏽)⁣ ⁣ You can browse our entire inventory⁣ ➡️Over 30 Million worth of in stock cabinets! ⁣ ⁣⁣ We sell directly to homeowners and contractors from coast to coast with incredibly fast shipping!⁣ ⁣⁣⁣ A few of the things we offer… ⁣👇🏽⁣ ⁣⁣⁣ – Free sample doors⁣⁣⁣ – Free design services⁣⁣⁣ – $30M of inventory in east & west coast warehouses⁣⁣⁣ – 5-day shipping (2-day rush option if needing sooner)⁣⁣⁣ – Deeper discounts for contractors, builders & flippers⁣⁣⁣ – We’ve beat supplied quotes 100% of the time since 2014⁣⁣⁣ – Industry best cabinet quality & specifications… 1/2” plywood throughout, soft close drawers & doors are standard features⁣⁣⁣ ⁣⁣⁣ Check it out at 👉🏼 cabinetsbytarek.com

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It seems that El Moussa always knew the industry he wanted to work in.

At just 21, he got his real estate license and started learning the business. Of course, it would be years before he flipped his first house, and even longer until “Flip or Flop” would premiere, but it seems that this first step of getting his real estate license turned out to be the right move.

2. El Moussa is close to his mom—she even helps with flips!

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Did all you moms have an amazing Mother’s Day!!??🤷‍♂️🤷‍♂️🤷‍♂️ . We had a great day!! Took my family out on my boat in Newport and cruised the coast from Huntington Beach to Dana Point! . The weather was perfect and we saw whales and dolphins!! . People talk about “jobs” all the time but at the end of the day the most important job is being a good parent and raising good people to keep this thing we call life going!! . My mom has always been there through thick and thin and we never realize how important parents are until we become one!! Mom I love you to the moon and back!! . I went boating..what did you do for Mother’s Day? Anything fun? I wanna hear!😊😊😊 . . Happy Mother’s Day to Christina as well. Tay and Bray love her so much❤️

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In the opening credits of “Flipping 101,” El Moussa explains his past struggles with the housing market, even saying that, “I was so broke when I got started, I actually lived in my mom’s garage.”

While living in a garage doesn’t sound too luxurious, it seems Mama El Moussa has been there for her son, supporting him in the worst of times. So, it’s no surprise he still calls on her for help.

In a Season 8 episode of “Flip or Flop,” titled “Small House, Big Problems,” El Moussa enlisted the help of his mom, Dominique, to clean ugly oil stains off the driveway. Her tip for using baking soda and soda pop got the stains right out!

For Mother’s Day in 2019, El Moussa gushed on Instagram about how much his mom means to him: “My mom has always been there through thick and thin and we never realize how important parents are until we become one!! Mom I love you to the moon and back!!”

3. He hit hard times in the housing crash of 2008

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😂😂😂 I promise I’m not mad I’m just extremely serious…😎 . I’ve never wanted to live a “Normal Life”. Since I was a kid I dreamed of doing extraordinary things! . I remember watching movies thinking I could do anything! Go on crazy vacations, live in cool places, have fun toys…anything! . I dreamed of living a life like you see in the movies! Fast, fun and exciting! . Growing up I didn’t have those things but I knew I wanted them! . I made a decision early on that I would do everything in my power to “Design my Life” to be the life I always wanted! . The life I live today was designed by me! The life I live is the life I dreamed of growing up as a kid! . I knew what I wanted and I fought for every ounce of my happiness and success! . I say this because you can too!! You can accomplish anything!! . What do you want from life? What are your dreams? What are your goals? How will you get there? . READ RIGHT ABOVE😊…what are the answers🤷‍♂️🤷‍♂️🤷‍♂️ let’s chat! .

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During the housing market crash of 2008, El Moussa and Anstead, who were married at the time, lost almost everything. They swapped their $6,000 monthly mortgage for $700 monthly rent (and even had a roommate), and split $5 Subway foot-longs because they couldn’t afford two.

Oh, how times have changed.

Soon after their financial struggles started, they signed a contract with HGTV—and the rest is history. These days, El Moussa is the star of two hit shows, sold his Costa Mesa home for $2.7 million, and even owns a yacht.

4. A ‘Flip or Flop’ fan may have saved his life

“Flip or Flop” may have saved not only El Moussa’s finances, but also his life.

During one season of “Flip or Flop,” a viewer wrote in to producers saying that she was a nurse and was concerned about a lump on El Moussa’s neck. He got it checked out, and the lump turned out to be thyroid cancer.

He got treatment and is now cancer-free. Still, he must feel pretty lucky to have such great (and observant) fans.

5. El Moussa’s flips always make a profit—with one exception

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Tarek El Moussa ended up in the red with this Buena Park, CA, house.

HGTV

El Moussa always seems to make the right renovation choices and is often making big profits on his flips. In fact, there was just one episode of “Flip or Flop” in which El Moussa and Anstead ended up in the red.

Way back on Season 3’s “Big Lot, Little Flip” episode, they were doing a flip in Buena Park, CA, and found themselves spending too much on the renovation.

“No matter what, we’re not going to make money,” El Moussa said. “The question is, ‘How much money are we going to lose?’”

In the end, they had a $3,300 loss on the house. Sure, it could have been worse, but after putting in all that renovation work, it must have been disappointing to not make any money.

6. El Moussa and Anstead funded their flips with past earnings

https://www.instagram.com/p/Bt9yZLmHGii/

Apparently, one of El Moussa’s secrets to success is how he invests his money. While it seems like he spends a lot of cash on his flips, he’s also great at saving.

In 2013, El Moussa and Anstead revealed that they made $10,000 per episode of “Flip or Flop,” and while it would have been easy to invest that money in their renovations, they explained that they chose to save it instead and simply use the cash they made from their last flip for their next renovation.

It’s a great practice that probably helped El Moussa make such a comfortable living.

7. He’s dating a real estate agent, who’s also a reality TV star

El Moussa didn’t remain a bachelor for long after his divorce. In August 2019, he confirmed he was dating Heather Rae Young, who is a reality TV star in her own right. She stars in the Netflix original show “Selling Sunset,” where she shares her experiences as a high-end Los Angeles real estate agent. (She even mentions her relationship with El Moussa in Season 2.)

With both El Moussa and Young working in real estate and appearing on TV, they have a lot in common. It’s no wonder they get along so well.

8. He could have a new house flipping partner, too

With Young showing off her real estate skills on “Selling Sunset” and El Moussa flipping homes on “Flipping 101,” El Moussa and Young may have the potential to be the biggest real estate power couple since, well, El Moussa and Anstead.

In fact, it looks like El Moussa may have a new co-star, because Young is already appearing on an upcoming episode of “Flipping 101” with El Moussa. Who knows where they’ll go from there—their own spinoff real estate show, perhaps?

9. The coronavirus affected their housing plans

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I can’t believe I’m saying this but we moved!!! Sounds crazy right? . You just never know what’s going to happen In life and sometimes things change when you’re least expecting it. . My home was a very special home to me. It was the first house that the kids and I called “home” after the split. . This move brings a lot of emotions because it reminds me just how much life can change in a few years. . It also reminds me how we, as people, can change for the better. We can change through hard work and discipline. . I’m proud to say I’m a better father than I’ve ever been. I’m a better son than I’ve ever been. I’m a better brother than I’ve ever been. I’m a better partner than I’ve ever been. . I’m excited for this new chapter of my life with @heatherraeyoung and the babies. I love and adore them more than anything! . So…who wants to see the new house🤷‍♂️🤷‍♂️🤷‍♂️….also, huge day Thursday, make sure you click the link in my bio 🙂 .

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Clearly, things are getting serious with girlfriend Young. In April, amid the coronavirus pandemic, they moved in together into a new house.

In fact, they’d begun home shopping before the novel coronavirus had became a concern, and had even picked out a house, so El Moussa had sold his old place in Costa Mesa.

But this new real estate purchase fell through because—could you ever guess?—further research revealed that the house needed too much work. El Moussa may love renovating run-down houses on TV, but he wants his own digs to be in decent shape!

In the meantime, the couple rented a modern beach home. Located in Newport Beach and featured in “People,” the place features a modern exterior, contemporary furnishings, and a pool out back.

El Moussa detailed how the movers took COVID-19 precautions, all wearing masks and gloves.

“The pandemic has hit us hard but we are fighters,” he said on his Instagram. “We will get through this, but for the rest of our lives we will remember this.”

The post 9 Surprising Facts About Tarek El Moussa That’ll Make You See Him in a Whole New Light appeared first on Real Estate News & Insights | realtor.com®.



source https://www.realtor.com/news/trends/surprising-facts-about-tarek-el-moussa/