Steven Gerrard is one of the most notable midfielders from his era. He is a former Liverpool and England national team member who is now serving as a professional football coach. He also works as a commentator and studio pundit of the football coverage by BT Sport. He and his family live on a beautiful property in Beverly Hills that is said to be worth around $25.61 million. The luxurious mansion has a total of six bedrooms, a cinema, pool, and a waterfall.

This couple just finalized a $17.5 million sale

The Amazing Skyscraper

The apartment is situated in the tallest residential building in the United States, 432 Park Avenue, which was designed by Rafael Viñoly. Oddly enough, Viñoly’s inspiration came from a trash can, which had been designed by an Austrian designer back in 1905.

The building, overlooking Central Park, is a 1,396-foot tall skyscraper with 85 floors, however, only 106 of those are residential. The gorgeous interior was designed by Deborah Berke alongside Bentel & Bentel, one of the best architectural firms in New York.

The tallest building in the western hemisphere

The engaged couple hit the tabloids when they moved into the apartment together at the cost of $15.3 million but in just over a year, they listed the property on the market for $17.5 million. And they have already found a buyer!

J-Lo and A-Rod had put the condo on the market in January of this year, so they can buy a bigger place for their family. The couple has two children each from their former marriages so we can safely assume that the family needs a bigger space.

Take a Look Inside the Condo

Don’t get mixed up though. It’s not like the apartment in the amazing skyscraper is small. It spans 4,000 square feet and has 4 1/2 bathrooms and three bedrooms. The condo features a combination of a living room and dining room space, four terraces that offer an astonishing view of the city, and a superb library.

The master bedroom suite has a separate dressing room as well as two bathrooms for each individual. On the other hand, the kitchen has marble counters and floors to match the massive marble-top dining table that can seat up to eight people.

The Facilities available in the building must also have been a major selling point for A-Rod and J-Lo. The tallest structure in the Western hemisphere has a 75-feet indoor swimming pool, lounge, private restaurant, performance and screening venue, as well as a fitness center.

The couple says that their apartment was not big enough for their family

The couple’s apartment was on the 36^th floor, with ceilings almost 13 feet high. According to a source, the couple loved just about everything in the building. The services, the boardroom and gym, but it was time to upgrade to a bigger place.

Currently, there have been no reports on the couple finding a new home but they have several places they can stay before they can find their perfect nest.

Between the two, they have places in Los Angeles, Miami, and a different house in New York City. Rumor has it that the couple also has a secret pied-à-terre located in the West Upperside.

And that’s not all. Their most recent purchase is a $ 6.6 million Malibu Beach house that was previously owned by Jeremy Piven, the “Entourage” star. The house, which was built in 1949, covers 4,404 square feet and has three bathrooms and four bedrooms.

A-Rod and J-Lo are said to be getting help from Chip and Joanna Gaines to renovate the house completely for a Television special.

Analysts believe that the government of the day has not formulated solid economic policies or consulted with the International Monetary Fund for some much-needed bailout package.

Without the monies, analysts remain fearful that the country could sink into a payments crisis.

Despite the numerous challenges facing the realty sector, the industry remains transfixed. Those in the know have lauded the state of the real estate business since it’s performed quite well. On the other hand, numerous other sectors of the economy have nosedived and eaten into public investment.

Historically, investments made by Pakistanis living abroad have contributed greatly to the real estate market. The current slowdown in the market is attributable to the fact that most of them are currently waiting for the right time to invest heavily in the sector.

For many, real estate investment is the most sure-fire way to make money. Even with the optimism in the market, there are still fears by some that the restrictions may be placed on property purchase by those unwilling to file tax returns.

Caution

According to Abdul Ghafoor, a realtor based at Lahore, the current phase is not great for the realty sector. He opined that the market has not crashed, rather, it’s simply a slowdown with genuine buyers and sellers still lurking in the horizon.

Ghafoor cited that part of the reason why the fears exist is that overseas investors are now under the Federal Board of Revenue’s (FBR) radar. There ongoing money laundering probe plus various other government projects focused on investigating property holders who are based abroad has ignited panic in the markets. He shared that there’s a great fear among investors because nobody wants to have their money trail investigated.

As revealed by Zameen, the market is likely going to stagnate in the same position for quite a while now.

In Zameen’s October 2018 report, they lay claim to their belief that the market was sufficiently stable. Data collected by them shows that they expect some up and downs across various real estate locations spread in 6 cities.

The property prices in a couple of major cities like Islamabad, Lahore, Karachi, Multan, and Gujranwala have fluctuated by an incredible 1%. The exception to the rule is DHA Gujranwala. In the city, the plot prices have risen slightly by 2.12%-3.25%. More specifically, the price variation was most evident on 10 marla and one-kanal plots.

At the same time, the proceedings at the Supreme court have influenced property prices. The case against Bahria Town resident, Malik Riaz, has been instrumental in shaping the property price landscape not just in Bahria Town, but also across all major towns.

Changes

In October, one-kanal plot prices in Karachi, Bahria Town Lahore, and Islamabad have increased by 0.35 percent, 0.16 percent, and 0.29 percent respectively.

Between 2010 and 2016, house prices increased by about 20% thanks to the market demand for secure, well maintained real estate establishments.

Analysts who are well briefed on the situation believe that the extent of the real estate sector has rapidly increased following the entry of investors in Gujranwala, Multan, Faisalabad, and Gwadar. Their involvement in these towns has overshadowed the action in the 3 primary metropolitan cities o Islamabad, Karachi and Lahore.

Waseem Tariq, a real estate expert, has revealed that the reason behind the massive success of the real estate sector are investors based abroad. He further added that friends and family members of most investors have joined the real estate game as a result. However, the major impediment that now exists is the requirement to show a money trail before properties get purchased.

Regardless of this, many Pakistanis are actively involved in the sector as investors in one way or another. As Tariq pointed out during the briefing, there’s been a considerable bump in the Pakistani population in recent years. More than ever, Pakistanis are faced with a shortage in housing units.

The recent emergence of housing societies has been met with welcomed by many people. Most of the new housing units are funded by famous and respected members of society. Prominent people like international developers are actively involved in the new setup.

Tariq pointed out that the prime minister’s new 5 million housing units’ development is likely going to further boost the real estate economy in the country.

$1.1 Million Discount!

A million-dollar discount would light up your face like this

How would you feel buying a house at $1.1 million less than its listed price? This is exactly what happened for Rande Gerber and Cindy Crawford who recently made a huge real estate investment with impressive profit margins.

Think about the happiness you feel when you see a product at the supermarket with even $1 discount. Now multiply that by a million. That’s how much this means to the couple!

Without a doubt, Gerber and Crawford know their way around real estate. Anyone knowledgeable in the field will tell you for free that discounts are hard to come by, and they hardly ever cross the $1 million mark. But this power couple has proved itself!

Comfort and the all right feels

Just recently, they sold a Malibu home at a price four times more than what they had acquired it for, and look at them now, snatching up a vacation spot at a discount. The piece of property they acquired is located in La Quinta, California, and is as luxurious as desert getaways come. Let not that huge discount fool you!

Specifically located at Coachella Valley, the views on the home sitting on 600 square feet are to die for. In fact, panoramic is the word that best describes them. In addition to seeing lush golf turfs, you get to see the mountains at the comfort of your own home.

The house’s interiors are perfect for Crawford, as we know how particular the model is about her designs. Speaking to Architectural Digest, she revealed that she’s all about comfort and the right feels.

They are at opposite ends of the spectrum with her husband, who is more for the looks. Luckily, she is in charge of the interior design at their multiple residences.

Notice the polished floor and high ceiling?

Perfect for Crawford

Their new home features polished floors, cream in color, with high ceilings, with its rooms seamlessly flowing into each other. The dining room features a wine cellar, while the kitchen has a breakfast bar to boot.

There’s also a living room that’s separate from the family room, embellished by glass walls that go all the way from the floor to the ceiling.

A section of these walls opens up to lead you to a patio with a fireplace as its finishing touch, as well as an infinity pool that is as cool as they come. What makes the pool more appealing to the eye is the fact that it is set against a golf turf background.

The master suite comes with as much bathroom space as you could ever wish for, and features a fireplace and a unique screen that pulls back inside the ceiling when not in use. Three other bedrooms feature a lounge and are in the mansion’s private wing for complete privacy.

In addition to this new acquisition, the couple owns a Beverly Hills mansion they acquired for $11.6 million, and the Malibu estate they let go brought them $45 million.

Successful house flipper

And although she has earned the successful house flipper tag, Ellen vehemently opposes being referred to this way. To her, acquiring houses, transforming them, then selling them off for profit is more of a hobby than it is a business venture.

Definitely, the talk show host’s client list is made up of A-listers, and you’d expect nothing less given the asking price she puts up on her pieces of property. Ellen has sold houses to Eric Schmidt and Ryan Seacrest, and was also played landlord when she rented a house out to Nick Jonas in 2015.

$24 Million and It’s Yours

The 61-year-old is actually back at it again, this time asking for $24 million to take a Carpinteria property off her hands. Knowing her way around the business, you better be sure that Ellen is selling at a profit, and a handsome one at that.

Ellen and Portia (her wife) spent $18 million on this house

Barely a couple of years ago, she parted with $18.6 million to acquire this hot piece that spans an acre and then some, so if you’ve got your math right, you know that she’ll soon be $6 million richer.

The main house sits on some 6,862 sq. feet, and boasts three luxurious bedrooms, with 3½ baths getting the accommodation bit of everything all covered.

The property also includes a guest house that’s just as splendid, complete with two baths and one bedroom. To do you one better, the residence also sits at a beachfront, 77 feet long, and one’s that easily accessible from the house.

Being this close to the beach naturally translates to heavenly oceanic views, and what more could one ask for living in California? What’s more, the property’s location makes it ideal for both solemn moments and loud parties, whatever your preference.

Heavenly oceanic views

Escaping LA

Ellen’s target market for this piece is essentially buyers looking to escape from the City of Angels, knowing how complicated navigating LA can be. What better place to escape to than to where you’re treated to expansive coastal views?

The house is even designed to major more on your fun side, having a number of outdoor decks and a courtyard to boot. There’s even a deck on the roof, complete with a fireplace. Think of all you could get going up there! Be it a quiet night reading, hosting guests, or simply watching the stars – it doesn’t get any better than this!

Needless to say, the house is in perfect condition, as per Ellen’s standards. Seeing as she’s big on interior design, you may not even have to change anything in the building. Her taste is up there with the finest interior designers in the business, as sure as night follows day.

If you’re loaded, how about you snatch this up sooner rather than later? It won’t be available for long, and you can take that to the bank.

Speaking about the matter, Kevin O’Leary, a personal finance author and host of ABC’s “Shark Tank”, shared that it is best for the millions of people with mortgages to clear their debts before retirement. O’Leary mentioned that those seeking to achieve a true state of financial freedom need to retire all their debt, including the mortgage.

Speaking further on the matter, O’Leary said that the aim is to pay off everything, from student loans to credit card debts by age 45. He added that he purposefully selected age 45 because most people in their 40s are well focused on their careers.

Given the fact that most careers start in the early 20s and end in the mid-60s, age 45 makes perfect sense for one to do away with debts. Once that is done, one can then focus the remainder period of their work years accruing capital.

A 2018 study conducted by the American Economic Association of Papers and Proceedings, shows that the odds of Americans retiring with debt have increased through the years. Estimates in 2010 showed that about 70 percent f American aged 56-61 were already in debt. Remarkably, the figure has shot up from 64 percent recorded in 1992.

Playing Smart

Data provided by CoreLogic shows that in 2017, homeowners with mortgages saw the equity in their home value increase by about $15,000

Experts believe that unlike other forms of debt like big credit card bills, taking out mortgages on homes is a smarter decision because property almost always appreciates in value. Speaking to reporters, O’Leary explained that mortgages are more of a gray area when compared to credit card debt because real estate is actually an investment. Despite this fact, he cautioned those in the market to really weigh their options before taking on a mortgage.

O’Leary believes that caution needs to be taken because it’s not always a good investment because homes nowadays don’t rapidly gain as much value as they once did. He further added that people in their 20’s and 30’s need not concern themselves with accruing that kind of debt.

His words seem to have some truth to them because interest rates have recently been on the rise, making borrowing money more expensive. Stats released by Freddie Mac show that on the week of June 7, the 30-year mortgage rate was at an incredible 4.54 percent.

O’Leary believes that those who decide to take on the mortgage debt need to formulate ways to clear out the debt as fast as they possibly can. His stance is that those who have mortgages should prioritize making those payments before thinking about investing in bonds and stocks with extra cash.

Future

When such occurrences happen, as they oft do, those with mortgages tend to find themselves unable to manage their payments.

O’Leary mentioned that because of life’s unpredictability, it is never a great incentive to stay in debt. This is because there’s always the odd chance of one being laid off or unexpected expenditures coming into the mix.

Suze Orman, a personal finance expert too, agreed with O’Leary’s take on the matter. Orman mentioned that those planning to stay at their homes through their golden years need to ensure that their mortgage is paid off before they retire.

Through her article in Money, Orman shared that those with mortgages need to grab every opportunity that presents itself to eliminated possible known risks to their retirement plans. She noted that paying off the mortgage in time would then become a fantastic way to build security after one retires.

And guess what? This is exactly what Martin intends to do with one of his residences in Beverly Hills, listing it for $2.15 million to one lucky buyer who could become his neighbor in the future.

Steve Martin is looking to sell one of his houses

Neighbors

The property on sale boasts 4 bedrooms complimented by 4½ bathrooms and sits on approximately a whole acre. What’s more, the property is situated right next to the actor’s primary home, meaning that whoever acquires this home will effectively be his next door neighbor. Who wouldn’t want the comedian for a neighbor?

The actual home spans across a 1,400-square-foot space and undoubtedly occupies most of the space on the compound. It brings with it a casual vibe, with the ground floor having an enhanced open plan, as you notice soon as you’re through the front door.

This must be due to the long corridor that greets you on your way in, especially since the beige tiles on the floor are quite the pretty sight. You also quickly notice the flight of stairs leading up to the building’s second floor, beckoning you to climb up and explore the house some more.

This flight of stairs invites you to explore more

The living room is quite spacious, as evidenced by two distinctly separate gathering spaces, both serviced by an elegant fireplace on one of the room’s peripheries. The ceiling in this room is striking, to say the least, with the white paint on it doing it enough justice. The fact that it also slopes at a certain angle gives it extra points.

The kitchen wouldn’t miss a central island now, would it? It stands tall in the middle of the room as if to compliment the cabinets and countertops present in the room. These are just as elegant as the island, if not more. Off this marvelous kitchen is a breakfast room that features high ceilings, with glass windows for walls. Let’s let the morning light in, shall we?

Superior master suite

Of the four bedrooms, three are designed for guests, with the remaining one being the master suite. Naturally, it is far more superior than its counterparts, and has a ceiling similar to that one in the living room. Doors from the master bedroom lead you out to a terrace with views that would keep you up all night long, especially after a refreshing bath from the rooms deep-soaking bathtub. If you’re more of a shower person, the bathroom’s also got you covered, so you are good to go.

Notice the bathtub?

Brick patios fill the space that is the building’s backyard, with a garage filling the space at the front, fit for both you and your partner’s cars if you own one each.

Remember when we mentioned Steve Martin has quite the real estate portfolio? In addition to these two pieces of property in Beverly Hills, he also owns a condo in the Big Apple, a stone manor in North Carolina, and another home in Montecito he almost sold in 2015.

A study by CoreLogic shows that mortgage fraud is at an all-time high, jumping 12 per cent over the past 12 months

Mortgage Frauds on the Rise

A study by CoreLogic shows that mortgage fraud is at an all-time high, jumping 12 per cent over the past 12 months. The company measured fraud through six basic indicators: income, real estate debt, identity, occupation, transaction and property.

Looking at these factors, the researchers found that almost 1 in 100 loan applications has some degree of non-transparency which categorizes it as mortgage fraud.

CoreLogic’ fraud solution strategist, Bridget Berg, says that fraudulent practices are inevitable in today’s competitive real estate market when demand is getting stronger and prices are soaring through the roof. Such conditions encourage bona fide borrowers to cheat the system in order to qualify for a mortgage.

Fraudulent applicants use various forms of misrepresentations to deceive the mortgage lenders. While some don’t fully disclose their real estate liabilities, others lie about their income, or get the money for down payment from questionable sources. Applicants with poor credit score also use the help of credit repair services to boost their credit score though information falsification.

The study found that home loan applicants were more likely to commit mortgage fraud than those applying for refinancing.

This explains the overall increase in fraud risk since refinance activity has decreased over the past year due to soaring interest rates. With fewer refinance options, the percentage of first-time mortgage applicants has dominated this year’s real estate loans applications.

Cheating the System

Income falsification accounted for the biggest increase in fraud risk this year, jumping 22 per cent over the past 12 months. Getting qualified for a mortgage loan has become relatively difficult over the past decade even since banks reinforced their lending criteria in the aftermath of the housing crash of 2008.

But thanks of the age of technology and information, applicants have found loopholes in the lending system. There are plenty of online services that help people cheat on their mortgage applications by juicing up their incomes.

Most of the mortgages today are owned and securitized by Fannie Mae and Freddie Mac, the two biggest mortgage lenders in the U.S., tightly controlled by the government

These services can create fake pay slips for you and even take phone calls from your lender to confirm the information your loan application. Of course, this service comes at a price, but the fee is small and can be offset by the attractive interest rate you will get on your mortgage by reporting false income.

Most of these websites claim to boost your credit score and credit lines and can easily bypass regulations through disclaimers and vague service descriptions. It can also be difficult to hold these businesses accountable since most of them operate outside the United States.

Consequences for the Lender

The increase in mortgage fraud can become problematic for banks and the economy as a whole. Most of the mortgages today are owned and securitized by Fannie Mae and Freddie Mac, the two biggest mortgage lenders in the U.S., under the tight control of the government.

Sources in Fannie Mae say that law enforcement is cracking down on mortgage frauds with the help of tips from consumers and the mortgage firm’s lending partners.

Nima Ghamsari, chief executive of mortgage-related software company, Blend, says that the increase in fraud has a lot to do with irresponsible use of technology.

Occupancy is another fraud indicator that has been used on mortgage applications. This is mainly because of an increasing trend in house flipping and rental investment. Most people will lie on their application and say that they’ll use the property as their own residence, but in reality, they use it for renting purposes.

Small lenders like Apex say that mortgage frauds can have serious consequences for their business because they have to take responsibility for every loan application they approve. If the borrower defaults on the loan due to misrepresentation of income or credit score, the lending company bares the losses.

What should the lawmakers do to prevent mortgage frauds?

You only have to look at his impressive real estate portfolio if you need convincing. Seeing as the man owns several homes in the states of Florida and California, why would you doubt that he’s got bank?

Unquenched Thirst

What’s more, his thirst for new pieces of property is nowhere close to being quenched. Travolta has recently acquired yet another home in CA, this time in Calabasas, Los Angeles.

The villa reportedly cost him $2.65 million, but that’s a small price to pay to live in the same posh suburb with A-listers such as the Kardashians and Will Smith, right?

Travolta paid $2.5 million to own this home

There’s just something about the neighborhood that draws celebrities in, and Travolta will certainly not be the last one of them to own a home here.

The Face Off actor’s new home is big on privacy, this being the first thing you notice. The villa is located at a dead end, so there won’t be a lot of movement at Travolta’s guarded gate. Who wants all that noise associated with the flow of traffic right outside their home anyway?

As for the main house itself, the 7,500 square foot space boasts six bedrooms complete with a similar number of bathrooms, along with four fireplaces to boot. Truth be told, everything in this villa is grand.

As soon as you’re through the gate, your eyes are drawn to the fountain at the front of the house, with palm trees towering over it. Surrounding it are tiles that continue into the house where a waiting foyer welcomes you.

Palm trees tower over the fountain

A tiled staircase rising from the foyer invites you to explore the rest of the house, and you’d be hard-pressed to find a reason to decline this invitation.

You’d definitely want to set foot in the home’s living room with its numerous windows and marble fireplace, and don’t even get us started on the library. It features built-in shelves and is as cozy as they come.

Of Hosting Guests

In his newest home, Travolta will have the luxury to host at least twelve guests, with this being the maximum number of people the dining room can accommodate. And since they say three is a party, what’s twelve?

That the villa also boasts a chef’s kitchen means that guest will always have nothing to worry about when it comes to matters food, and the wine closet, temperature-controlled, will take care of what comes next after a sumptuous meal.

Who wouldn’t love this kitchen?

For those who enjoy something a little stronger than wine, there’s a wet bar present. It seems as though the architect thought of everything, no?

For a 65-year-old, you must admit that Travolta is truly in shape. The man must love working out, and his new home has him sorted on that front. With a gym to die for, you expect the actor to continue giving his peers a run for their money.

The building’s master suite is located upstairs, and it’s as impressive as the rest of the house. Its bathroom is quite spacious, and the fireplace and balcony bring in the extra oomph.

Australian Institute of Health and Welfare says that homeownership in Australia has decreased from 71.4 per cent to 67.5 per cent in the past twenty years

Australia’s Homeownership Trend

Data from Australian Institute of Health and Welfare’s new report indicates that the Australian dream of owning your own property is now increasingly out of reach , due to the younger generation’s personal choices which are keeping them out of the real estate market. According to the results of AIHW’s report, which was released last week, the number of homeowners in Australia had decreased from 71.4 per cent to 67.5 per cent in the past twenty years.

During the same period as the real estate market’s cooldown, Australia has seen a sharp rise in the private renting sector with the property rental business rising from 18.4 per cent to 25.3 per cent. The report also showed that participation in state-provided housing programs for renting houses and apartments has decreased from 5.5 per cent to 3.5 per cent over the past two decades.

Renting Instead of Buying

The results prove that the Australian population is earning more income on average than ever before, then, why aren’t more people investing in their own homes and properties?

The institute says that when it comes to homeownership, the country is undergoing a major generational shift with more millennials choosing to rent apartments and homes due to a number of factors including their changing work preferences, lifestyle choices and financial constraints, all of which prevent them from buying their own houses.

By choosing to rent apartments and homes, millennials are making a big mistake of pricing themselves out of the real estate market. Instead of saving up for a permanent home, they spend money on buying expensive health foods like avocados, exotic berries and free-from products and pricy gym memberships. But perhaps the biggest expense that limits the millennials’ abilities to save money for a home deposit is apartment rent simply because they prefer living close to work or the beach.

Westpac’s Report

But while some studies show disappointing results for millennials’ spending habits, others have found that the newer generations are actually better at saving money than their predecessors. Westpac Life, a popular bank in Australia, released a report recently which claimed that most of the Millennials’ between the ages 25 and 34 open a savings account in the bank with the goal of putting money away for a home deposit instead of other luxury expenses like traveling or holidays.

The Head of Savings at Westpac, Kathryn Carpenter, thinks that most people are under the false assumption that millennials are reckless spenders, when in fact, they are better at saving and investing than the previous generations.

In order to meet a 20 per cent deposit for an average-priced home in Australia, millennials need to put away at least $100,000

Carpenter says that the younger generations are often depicted as more health conscious and experience-oriented who like to live in the moment and not plan ahead for the future, but the bank’s research data debunks this stereotypical myth by proving that almost 70 per cent of the millennial accountholders at Westpac are prioritizing saving money for home deposits instead of travel and lifestyle goals.

Carpenter is pleased to see an increasing interest from millennials in homeownership especially during a time when the property market is experiencing a cooling down effect due to low demand.

Rising Home Deposits

But in order to meet a 20 per cent deposit for an average-priced home in Australia, millennials need to put away at least $100,000 – a near-impossible feat even with the falling property rates. To help young savers achieve the Australian dream of owning a house, the bank is now giving loans to first-time property buyers at a bonus interest rate so that they don’t have to wait for years in order to have enough money saved in their account for the home deposit.

ING also released a report last month showing that at least one third of the millennials are saving money for deposits and are planning to buy their first home within the next three years, but the survey’s nominated average deposit was merely $76,000 for a property worth less than $400,000. This figure doesn’t even compare to the national average price of $570,249, let along the hefty $1,033,892 average price tag on properties in Sydney.

Do you think millennials are better at saving money than the older generations?