TheMReport

February 2014

TheMReport — News and strategies for the evolving mortgage marketplace.

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Th e M Rep o RT | 11 Troy, Michigan Annual Change in Asking Price: 22.7% Price Change in Bust, Peak to Valley: -37% Annual Change in Jobs from November 2013: 1.7% Annual Change in State HPI from November 2013: 10.6% Hot home: This split-level is close to one of Michigan's fin- est school districts. The home features hardwood floors, premium trim, and crown molding in the dining room. Wrought-iron spindles line the staircase that encases the two-story foyer. It also has a library, a Florida room, four bedrooms, and six-and-a-half bathrooms. The brick and stone mixed-medium home sits on almost a full acre. Wood beams line the ceiling, and the home has custom cabinetry. A large hooded vent covers the stove in the kitchen, making it perfect for cooking to entertain large crowds. The home lists for $1.15 million. Detroit, Michigan Annual Change in Asking Price: 21.8% Price Change in Bust, Peak to Valley: -40% Annual Change in Jobs from November 2013: -0.2% Annual Change in State HPI from November 2013: 10.6% Hot home: After years of being riddled with corrupt politicians, Detroit finally has a new mayor. Newly elected Mike Duggan plans to take advantage of the biggest (legal) mayoral perk and move into the Manoogian mansion. And he'll go ahead and put his six-bedroom home on the market for good measure. When he purchased the home in 2012, he listed it for $428,000. Designed by noted architect Richard Marr, it features details like handpainted French wallpa- per. While Duggan will lose a third of his living space, he will gain '90s rocker Kid Rock as a neighbor. Los Angeles, California Annual Change in Asking Price: 21.3% Price Change in Bust, Peak to Valley: -35% Annual Change in Jobs from November 2013: 1.7% Annual Change in State HPI from November 2013: 21% Hot home: What popular game show host and one- time Canadian music star put his house on the market for $3.995 million? The answer is Jeopardy! game show host Alex Trebek, who listed the Hollywood Hills 5,554-square-foot home at the end of 2013. Perfect for any bachelor or bachelorette with a pen- chant for '80s nostalgia, the home is replete with black tile, beige carpeting, and glass brick walls. The four- bedroom, four-and-a-half- bathroom dwelling sits on two acres of land and has a two-story master bedroom, chef's kitchen, wet bar, pool, and fluorescent fish tank. Orange County, California Annual Change in Asking Price: 19.9% Price Change in Bust, Peak to Valley: -33% Annual Change in Jobs from November 2013: 2.1% Annual Change in State HPI from November 2013: 17.6% Hot home: Los Angeles Lak- er superstar Kobe Bryant's Orange County home is still on the market. The almost entirely beige abode is on the market for $8.599 million and has four bedrooms. In true Bryant fashion, the home—despite its beige- ness—is flashy. The property is surrounded by palm trees and has a pool more suit- able for a Las Vegas casino than a cozy home for four. Every baller wife needs her own private hair salon and this one delivers, along with an 850-square-foot gym, a theater complete with a lobby and wet bar, and lastly a library . . . with a shark tank, no less. Fort Lauderdale, Florida Annual Change in Asking Price: 19.1% Price Change in Bust, Peak to Valley: -48% Annual Change in Jobs from November 2013: 2.4% Annual Change in State HPI from November 2013: 12.4% Hot home: Come on and get happy with famed Partridge Family front man David Cassidy's Florida manse. Cassidy avoided foreclosure by turning over the property, but he's hav- ing a hard time selling the 7,000-square-foot home. The five-bedroom, seven- bathroom domicile is listing for $1.35 million after having the price slashed two times. The mansion features a chef's kitchen, hardwood floors, and a private balcony overlooking the nearby beach and marina, to which the rights are available. The lucky owner can buy the home with all of its furnish- ings. Sources: Information acquired from Trulia and CoreLogic.

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