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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Housing Prices Are Flat, San Francisco Is Not
Housing prices are flat, but that's definitely a plus
from the Arizona Republic, reports that California, Nevada, Florida and Arizona led the nation for housing price jumps a few years ago during the boom. Now, home prices are down in all the states except Arizona. According to figures released last week by the Office of Federal Housing Enterprise Oversight, during the first quarter of 2007, appreciation fell 0.84 percent in California, 0.34 percent in Florida and 0.52 percent in Nevada. Arizona showed a 0.13 percent gain for the first quarter. Home prices fell in 22 of the 26 California cities ranked by the federal agency. In Florida, appreciation was down in 13 of the 18 cities. Based on the drops in these other cities, our flat appreciation rate looks pretty good.
{S.F. Photo Credit: Chris Komater}
The Wall St. Journal reports that Yankees center fielder Johnny Damon and his wife, Michelle, are asking $8.2 million for a New York apartment -- close to 50% more than they paid last year.
The 2,410-square-foot unit is in One Beacon Court, a 2005 condominium building in midtown Manhattan where other owners include singer Beyoncé Knowles, former General Electric chief Jack Welch and Mr. Damon's teammate Bobby Abreu. The 39th-floor apartment has three bedrooms, a kitchen with a breakfast area and a corner living/dining room with views to the south and west. Adam Modlin of Modlin Group has the listing.
Records show Mr. Damon and his wife paid nearly $5.6 million for the apartment in February 2006, shortly after he signed a four-year, $52 million contract with the Yankees. In December, he sold the Massachusetts home where he had lived while a member of the Boston Red Sox for just over $5 million.
Mr. Damon, 33 years old, is hitting .264 with three home runs this season, his second with the Yankees. He won a World Series with the Red Sox in 2004, which he documented in his 2005 memoir, "Idiot: Beating 'the Curse' and Enjoying the Game of Life." Mr. Modlin says the Damons plan to buy a house with a pool in the suburbs after the baseball season.
Didn't Johnny hear about the housing crash? Well, if he wants full price he had better start hitting!
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