Real Estate News

Houston is a diverse city with one of the largest ports in the U.S. It has a diverse economy, really sunny weather and is host to a wide variety of events including the 20-day-long Houston Livestock Show and Rodeo and an Art Car parade. Want to live in Houston? We found some homes for sale in the monthly mortgage rate of $1,000-$4,000 per month.

(Note: These monthly mortgage payment figures are based on a 30-year fixed loan, using the current Texas mortgage rate, with a 20% down payment. Estimated taxes and insurance are not included).

Monthly mortgage of $1,000-$2,000/month:

If you like to entertain this lovely home in the Lake Houston neighborhood of Houston, has a two-story family room (!) and a slick kitchen with an island, granite counter-tops and stainless-steel appliances.

>  See more Lake Houston real estate
>  See Lake Houston home values

With an amazing study that looks like something out of a movie on secret societies, this house in the Meyerland Area neighborhood is for you. There is also a great yard with mature trees in case you ever leave said study.

> See more Meyerland Area real estate
> See Meyerland Area home values

*****

Monthly mortgage of $2,000-$3,000/month:

This home, in the Braeswood Place neighborhood, has a gorgeous, spacious kitchen that opens to both a formal dining room and a family room. The backyard has both a large grass area and a covered seating area.

> See more Braeswood Place real estate
> See Braeswood Place home values

Delightful Victorian charm! Located in the Greater Heights neighborhood, this home has two enclosed balconies, a glass sun-room and a pond in the back yard. Pass the lemonade, please.

> See more Greater Heights real estate
> See Greater Heights home values

*****

Monthly mortgage of $3,000-$4,000/month:

Into golf? This home sits right on the course in a private, gated community in Westchase. The upstairs balcony looks onto the course, so you won’t miss a single hole.

> See more Westchase real estate
> See Westchase home values

This handsome home, located in the University Place neighborhood, was build in 1923 and remodeled in 2001. So, not only do you have the old-world glamor, but everything is re-wired for the modern age.

>See more University Place real estate
>See University Place home values

What You Can Buy in Houston With a Mortgage of $1,000-$4,000 a Month

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With the deadline looming for the $8000 first-time homebuyer tax credit, a Zillow user named orange hammer asks in Zillow Advice:

Is it better to buy now or wait until the $8000 tax credit expires?

orange hammer goes on to say, “There is a lot of competition for houses in my price range in Denver because of the 8000 dollar tax credit. My price range is under 150k. Will there be less competition once the credit expires?”

Interesting question and surprising to see there is competition for homes in any price range.

Here is the original:

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Easy does it: Three tips on how to maximize your exposure on Zillow:

Click here to view the embedded video.

Zillow’s Partner Relations Director Sara Bonert talks with Chris from Tech Savvy and offers three marketing tips on Zillow for:

• Your listings
• Yourself
• Your Business

Continued here:
Three Savvy Ways to Boost Your Visibility on Zillow

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It’s been two years now since we first fielded our regular Homeowner Confidence Survey — a quarterly barometer on how homeowners perceive their own home’s value and how it relates to the reality of the market.

In this quarterly survey, done with Harris Interactive and based on answers from more than 2,200 U.S. adults, we’ve typically found homeowners to be an optimistic bunch. In the past, homeowners believed their home held its value – or even increased in value – despite market trends showing the opposite as home values rapidly declined over the past couple of years.

This quarter’s poll found an entirely different phenomenon, and one that marks a significant turning point in what we’ve dubbed our Zillow Home Value Misperception Index. For the first time, homeowners are bearish on the value of their own homes, dipping into actual pessimism for the first time. Specifically:

• Just 20 percent of homeowners believe their home gained value in the past year (down from 25 percent in Q3)
• In reality, 28 percent of U.S. homes increased in value over the past year.

Here’s how it played out across the country, with homeowners in the Northeast holding the most pessimistic view on their own homes’ values, those in the South having the most realistic view, and Midwesterners straying slightly optimistic.

This resulted in a Misperception Index of (-2), the first time in our report’s history this index has gone negative.

And here’s how the Zillow Home Value Misperception Index looks over time. Positive numbers show homeowners are optimistic about their own homes’ values, zero means homeowner perceptions are in line with reality, and negative numbers show pessimism in how homeowners perceive the value of their own homes.

While it’s important for homeowners and sellers to have a realistic view of their home’s value, these results show the confusion that reigns in a period where some markets are experiencing improvement, some continue to decline, and still others may be headed for a double-dip in home values (see Zillow chief economist Stan Humphries’ assessment of Q4 market trends). Adding to this confusion is uncertainty in what 2010 will bring, with an end to government-sponsored homebuyer tax credits and forecasted higher mortgage rates.

For full survey results, see today’s press release, or visit the Zillow press room for a .pdf of survey findings.

More:

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Detroit artists are using the housing crisis to turn out some interesting projects.

First, some Detroit artists took an abandoned house and made it into the Detroit Ice House (above). The home’s address, which was secret for awhile, was revealed to be 3920 McClellan St, Detroit, MI. They spent weeks spraying a house with water until it froze into an eerie house sculpture. Take a look at photos of the Detroit Ice House.

Now, a Web designer is selling “space” on a Detroit lot for $1 per square inch. Jerry Paffendorf claims to have nearly “600 “inchvestors” who have purchased 10,000 plots in the “Loveland” art-and-real-estate project on Detroit’s east side. According to Paffendorf’s Loveland site:

Starting with the smallest unit of American measurement, the humble inch, the first LOVELAND “colony” is a 10,000 square inch grid called Plymouth. People are invited to purchase these inches for a dollar a piece and get creative with their space. When Plymouth is full it will move outdoors from its temporary home in Detroit’s Russell Industrial Center and the next colony (or colonies) will appear.

What will someone put on tiny 1-inch units of land? Tiny houses and buildings, of course.

> See Detroit homes for sale

> See Detroit home values

> See percentage of Detroit homes with a price cut

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Celebrities are just like us — they get price-whacked on their listings, too! Here’s a collection of celebrity homes that have been reduced in price.

Actor Charlie Sheen
2549 N Catalina St,  Los Angeles  CA 90027 (above)
For sale: $3,197,000
Original list price: $3,697,000
Notable: Sheen, who stars in the popular comedy series “Two and a Half Men” and wife, Brooke Mueller Sheen, listed their home for sale last July for $3,697,000. Since then, Sheen was arrested for domestic violence charges during a Christmas Day incident in Aspen and their home took a price cut. The Sheens wanted to sell because they felt the 4,179 sq ft property, with four bedrooms and 4 1/2 bathrooms was not big enough for them and their five kids. Read more about Charlie Sheen’s Los Feliz home.
> See more Los Feliz real estate
> See Los Feliz home values
> See Los Feliz listings with price cut (%)

*****

Baseball star Alex Rodriguez
181 E Sunrise Ave, Coral Gables, FL 33133 (above)
For sale: $9,999,999
Original list price: $14,876,000
Notable: A-Rod made headlines in 2008 when he split from his wife, Cynthia, which inevitably led to the listing of his Coral Gables home for $14,876,000. Here’s the timeline for A-Rod’s home:
* Purchased home in December 2004 for $12 million
* Listed it for sale in October 2008 for $14,876,000
* Dropped price in February 2009 to $12.3 million
* Dropped price in June 2009 to $11,000,000
* Dropped price again to $9,999,999

Read more about A-Rod’s Coral Gables home.

> See more Coral Gables real estate
> See Coral Gables home values
> See Coral Gables listings with price cuts (%)

*****

Singer/actress Jennifer Lopez
487 St Pierre Rd, Los Angeles, CA 90077 (above)
Recently sold: $6,200,000
Original list price: $8.5 million
Notable: Jennifer Lopez and husband Marc Anthony paid $6.25 million for this four-bedroom, five-bathroom French farmhouse-style Bel Air home in 2005. It was originally listed for $8.5 million, reduced to $7.9 million in May 2009 and found a buyer in early December.
> See more Bel Air real estate
> See Bel Air home values
> See Bel Air listings with price cut (%)

*****

Convicted Ponzi-schemer Bernie Madoff
410 N Lake Way, Palm Beach  FL 33480 (above)
For sale:$7,250,000
Original list price: $8.5 million
Notable: This Palm Beach home of Bernie Madoff was toilet-papered by neighborhood kids when it was discovered they lost their trust funds due to his historic Ponzi scheme that resulted in an estimated loss of $50 billion for many investors. Madoff’s three homes hit the market soon after his conviction and it appears the Palm Beach home is the last one on the market.
> See more Palm Beach real estate
> See Palm Beach home values
> See Palm Beach listings with price cut (%)

*****

NFL star Tony Gonzalez
228 34th St, Manhattan Beach, CA 90266 (above)
For sale: $3,600,000
Original listing price:$3,999,999
Notable: Gonzalez originally listed the house for nearly $4 million in October 2008 and hasn’t been able to move it. Not only did he reduce the price by nearly $400,000, but he is also spicing up the deal by throwing in a 2010 Porsche 911 Convertible, if a buyer closes on the house with a full-price offer. The Porsche is worth approximately $88,000. Read more about Tony Gonzalez’ Manhattan Beach home.
> See more Manhattan beach real estate
> See Manhattan Beach home values
> See Manhattan Beach listings with price cut (%)

*****

Record producer Jermaine Dupri
7 Whitewater Trl NW, Atlanta, GA 30327 (above)
For sale: $1,200,000
Original list price: $1.5 million
Notable: Dupri’s home has been on the market for nearly a year and has taken two price cuts since its original list price of $1.5 million last January. First, it was cut to $1.3 million and it’s now down to $1.2 million.  Read more about Jermaine Dupri’s Atlanta home
> See more Whitewater Creek real estate
> See Whitewater Creek home values
> See Whitewater Creek listings with price cut (%)

*****

Chad Rogers (of Bravo TV’s “Million Dollar Listing”)
2717 Shell St., Corona del Mar, CA 92625 (above)
For sale: $6,495,000
Original list price: $9.5 million
Notable: Even after a remodel, $30,000 in home staging, a $2,000 brokers’ open/champagne kickoff and a huge cake decorated with an image of the house and Rogers, there is still no sale. Read more about Chad Rogers’ Corona del Mar listing.
> See more photos of 2717 Shell St, Corona del Mar, CA
> See more Newport Beach, CA real estate
> See Newport Beach, CA home values
> See Newport Beach listings with price cut (%)

*****

Fashion designer Kimora Lee Simmons
101 Fox Hedge Rd, Saddle River,  NJ 07458
For sale: $16.5 million
Original list price: $23 million
Notable: Kimora Lee Simmons, CEO of Phat Fashions (best known for the Baby Phat line) and star of the 2007 reality series “Kimora: Life in the Fab Lane” initially listed her Saddle River, NJ home $23 million in 2008. It was then taken off the market and later re-listed at $19.8 million before the most recent price cut. Read more about Kimora Lee Simmons’ Saddle River house.
> See more Saddle River real estate
> See Saddle River home values
> See Saddle River listings with a price cut (%)

More:
Celebrity Price Cuts – Sheen, A-Rod, J-Lo, Madoff and Others

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Ooh, this has to hurt: Actress Scarlett Johansson purchased this Hollywood Hills home in 2007, paying $7 million and now she has listed it for sale for $4,950,000 — a price reduction of $2,050,000 (see percentage of Hollywood Hills homes sold for a loss).

This gated Spanish Villa was built in 1931 and just underwent a complete restoration, including some green upgrades such as solar power. A gourmet period-style kitchen includes “Big Chill” appliances (retro, baby). Rooms flow in and out to terraces, patios and cascading gardens.

Johansson has starred in films such as “Lost in Translation,” and “Vicky Cristina Barcelona,” and is reportedly spending more time in New York where she is making her Broadway debut to rave reviews in Arthur Miller’s A View from the Bridge.”

> See more photos of Johansson’s home

> See more Hollywood Hills real estate

> See Hollywood Hills home values

(Photo courtesy CNN)

Read the rest here:

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For actors and actresses of the big screen, it’s nail-biting time as nominees for the 82nd annual Academy Awards® were just announced and winners will be selected on Sunday, March 7, in Los Angeles’ Kodak Theatre.

As a salute to Hollywood’s best, here is some celebrity real estate we’ve posted that includes past winners of Academy Awards®:

Nicolas Cage (Best Actor, “Leaving Las Vegas,” 1995)
Mr. Cage has been faced with some financial troubles in the past couple of years, losing three homes to foreclosure — two in New Orleans and one in Las Vegas. Both homes are now for sale. (Read more about Nicolas Cage’s Las Vegas home, and his two New Orleans homes).

1140 Royal St, New Orleans, LA 70116 -- For sale: $2,900,000 (below)
See more photos of 1140 Royal St, New Orleans, LA 70116
> See more Garden District homes for sale
> See more New Orleans homes for sale
> See New Orleans home values

2523 Prytania St, New Orleans, LA 70130 — For sale $3,450,000 (below):
> See more photos of 2523 Prytania St, New Orleans, LA 70130

5100 Spanish Heights Dr, Las Vegas, NV 89148 (below)
> See more Las Vegas homes for sale
> See Las Vegas home values

*****

Sean Penn (Best Actor, “Milk” 2009)
While Penn locked up an Academy® for his transformative performance as gay San Francisco politician Harvey Milk in 2009, he had less luck keeping his house and married life together with Robin Wright as they head to divorce. (Read more about Sean Penn and Robin Wright’s Marin County home).

Sean Penn and Robin Wright’s house
7 Laurel Grove Ave, Kentfield, CA 94904 (below):
> See more Ross, CA homes for sale
> See Ross, CA home values

*****

Cher (Best Actress “Moonstruck” 1987)
While Cher’s gorgeous Hawaii home just sold at auction, she still has her Malibu home on the market for $41 million. Here’s a look at Cher’s two homes we featured on Zillow Blog:
72-122 Laueki St, HI — Recently sold $8.72 million (below):
> See more Hawaii homes for sale
> See Hawaii home values

25142 Pacific Coast Highway, Malibu, CA 90265 — For sale $41 million (below):
> See more Malibu homes for sale
> See Malibu home values

*****

Halle Berry (Best Actress “Monster’s Ball” 2001)
This inviting, Old World Mediterranean-style home hit the market last December for $5 million. (Read more about Halle Berry’s home for sale).
1372 Benedict Canyon Dr, Beverly Hills, CA 90210 – For sale $5 million (below):
> See more homes for sale in Beverly Hills
> See Beverly Hills home values

*****

Angelina Jolie (Best Supporting Actress “Girl, Interrupted” 1999)

While Angelina has an extensive film resume, she has made most of her headlines as a promoter of humanitarian causes and also as actor Brad Pitt’s domestic partner, hence the name “Brangelina.” Brad and Angelina own many homes, but here are some we’ve reported on and their locations:

Brangelina’s Hollywood Hills compound:

Each of these homes owned by Brad and Angelina are adjacent to each other in the Hollywood Hills section of Los Angeles:

5756 Valley Oak Dr, Los Angeles 90068
5769 Briarcliff Rd, Los Angeles, CA 90068 (photo below)
5742 Valley Oak Dr., Los Angeles, CA 90068
5750 Valley Oak Dr, Los Angeles, CA 90068
5752 Valley Oak Dr, Los Angeles, CA 90068
> See more Hollywood Hills homes for sale
> See Hollywood Hills home values

Brangelina’s Malibu home:
32316 Pacific Coast Highway, Malibu, CA 90265 (below):
> See more Malibu real estate
> See Malibu home values

And don’t forgot the “The Brangelina Home” in Edmond, OK, a home built to honor the union of Brad and Angelina:

Go here to read the rest:
Academy Award® Winners and Their Homes

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Four years ago today, Zillow.com was born as a beta site. When we launched, we had 75 employees who spent many previous months building a living, breathing database that launched 40 million Zestimate® home values.

It was a revolutionary moment that kind of turned real estate on its head. A value on your home online for all to see?  While we fully state that a Zestimate is just a starting point, it was a big move to make real estate data available about all homes — yours and your neighbors’ — open and online for everyone to see. People were eager to get their hands on it and we were happy to provide it.

But, that was just the beginning.  Zillow now offers a wide variety of real estate products:

• Search millions of homes for sale, homes for rent and Make Me Move® homes
• Post a home for sale or post a home for rent
• Shop anonymously online for a customized mortgage quote using Zillow’s revolutionary borrower-focused Zillow Mortgage Marketplace
• Ask questions and share answers on any real estate topic through Zillow Advice
• Find real estate info and data on-the-go through the #1 real estate app for the iPhone — Zillow iPhone App
• Browse home improvement ideas with Dueling Digs
• Find a local agent, lender or real estate professional using the Zillow Directory
• Search local data for hundreds of cities and thousands of neighborhoods

And no birthday post is complete without some cool stats that don’t make our usual lineup of Zillow stats.

Zillow by the Numbers:

96,013,458 - Number of U.S. homes with data on Zillow today

70,176,310 — Number of individual homes viewed on Zillow since launch (that’s 75% of all homes in the country — wow!)

68,683,868 — Number of homes in U.S. with a Zestimate value

21,117,128 — Number of homes on Zillow viewed through the Zillow iPhone App (from April 28, 2009 through Feb. 6, 2010).

17,860,700 — Homes on Zillow with edited home facts, by owners or agents

11,527,882 — Custom loan quotes since Zillow Mortgage Marketplace launched

3,697,633 – Total homes for sale today (including Make Me Move homes)

1,333,758 – Agents with a profile on Zillow

923,935 — Number of Zillow iPhone App downloads.

681,572 — Consumer loan requests since Zillow Mortgage Marketplace launched (April, 2008)

30 — Zillow babies born to current employees, spouses or former employees (…and 11 more are coming!)

4.034 –- Number of terabytes it takes to process Zillow’s 70+ million Zestimates and Zillow Home Value Indices, which are updated every single night!

1 — Number of times CEO Rich Barton talked to someone in space from work.

A Big Thanks to YOU

Lastly, we couldn’t have gotten to where we are without you — homeowners, home buyers, home sellers, property managers, renters, real estate agents, brokers, lenders, borrowers, appraisers, stagers, and many other real estate professionals who use Zillow. Without you, we wouldn’t have the 8+ million unique users we attract a month. So, a big thanks to you for using Zillow for your real estate needs. THANK YOU!

Happy Birthday, Zillow! We Turn 4 Today

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It’s that time of year again – Super Bowl XLIV is this Sunday – and while Peyton Manning and the Indianapolis Colts are favored over Drew Brees and the New Orleans Saints, we thought we’d take a look at how the two cities stack up on the real estate front.

The two teams will be squaring off at Sun Life Stadium in Miami, FL. If you are in Miami for the big game, or just love real estate hunting, check out homes for sale in Miami.

Now onto the real estate showdown:

Looks like Indianapolis has the upper hand with a higher median income and more modest housing prices.  The oddsmakers agree, installing the Colts as a 5-point favorite.

Who will you be rooting for this Sunday?

> See Indianapolis homes for sale
> See New Orleans homes for sale

Read the original here:
Super Bowl XLIV – Zillow Edition

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If you don’t have time to read Zillow Chief Economist Dr. Stan Humphries’ 15-page white paper on “Price Differences Between Foreclosures and Non-Foreclosures,” watch this three-minute video with conclusions of his findings.  Click here to view the embedded video.

> See which city offers the biggest discount on foreclosures.
> See home values in your area.

View original here:
Video: Price Differences Between Foreclosures and Non-Foreclosures

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Stung by courtroom defeats, increasing activist pressure and financial woes from a deflated real estate market, Tishman Speyer Properties (TSP) today announced that it was effectively “surrendering” Stuyvesant Town and Peter Cooper Village to its creditors.

For those who may not remember, TSP acquired the gigantic 110-building complex in 2006 for the princely sum of $5.4 billion, making it the largest real estate transaction in American history.

Stuy Town and PC Village were originally built after World War II in a clever bid to lure middle-class American GIs and their families to NYC. Today, both complexes are mini-cities of their own with multi-generational families occupying the spacious (5BRs!), rent-controlled units and owning or working in nearby businesses. TSP’s 2006 purchase was seen by critics as a blow to one of NYC’s last redoubts of solidly middle-class housing.

Tenants and affordable-housing groups immediately set to work fighting TSP’s efforts to de-regulate some of the units and ease in rent hikes. The battle culminated in an October 2009 court ruling that declared TSP “improperly began charging market rents on thousands of apartments” while collecting a reported $24 million in tax breaks for building renovation.

Things spiraled downwards from there. Improvements were made but TSP was legally unable to raise the rent on most of the apartments and had major difficulties renting newly available units. Meanwhile, the housing bubble burst and demand for real estate softened all over NYC, further eroding rental prices. Earlier this month, TSP even defaulted on $3 billion in debt and was actively pursuing debt restructuring.

What this means for the iconic complex and its tenants remains to be seen, though this certainly doesn’t come as a surprise to critics of the 2006 buyout. What do you think?

> See East Village homes for sale

> See East Village home values

Continued here:
Tishman Speyer Quits Stuyvesant Town

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What kind of house could you buy with a monthly mortgage of say $1,000 a month? $2,000? $4,000?

We took a look at some homes for sale in New Jersey (no — the Jersey Shore house is not for sale, that we know of) and organized them by monthly mortgage payment range.

Note these monthly mortgage payment figures are based on a 30-year fixed loan, using the current New Jersey mortgage rate, with a 20% down payment. Estimated taxes and insurance are not included. Also, this post was written late yesterday, so rates may have changed.

Here we go:

Monthly mortgage of $1,000-$2,000/month:

For $1,388 a month, you can buy this lovely yellow home in Clinton, NJ. (below)

> See Clinton Township, NJ real estate
> See Clinton Township, NJ home values

For $1,768 a month, you can buy this condo in Hoboken, NJ (below)

> See Hoboken real estate
> See Hoboken home values

*****

Monthly mortgage of $2,000-$3,000/month:

For $2,400 a month, you can buy this 4-bedroom, 2.5 bath home in Milford, NJ. (below). Oh, look – they’re having an open house this weekend!

> See more Milford, NJ real estate
> See more Milford, NJ home values

For $2,527 a month, you can buy this Colonial with a pool in Branchburg, NJ (below).

> See more Branchburg, NJ real estate
> See Branchburg, NJ home values

*****

Monthly mortgage of $3,000-$4,000/month:

For $3,370, you can buy this 3-bed, 3-bath home in Ridgewood, NJ (below)

> See more Ridgewood, NJ real estate
> See Ridgewood, NJ home values

For $3,787, you can snag this gracious 9-bedroom 5.5 bath home in Morristown, NJ (below):

> See more Morristown, NJ real estate

> See Morristown, NJ home values

Interested in getting a mortgage?  First, check current rates in your state, or others:
- See California mortgage rates
- See New York mortgage rates
- See Pennsylvania mortgage rates
- See Massachusetts mortgage rates

Then, get a custom loan quote free and anonymously at Zillow Mortgage Marketplace.

Read the rest here:
What Can You Buy in New Jersey with a Mortgage of $1,000 a Month or, $4,000?

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1. Tiger Woods Houses and Elin’s House in Sweden
See Tiger Wood’s home. (below)
See more Lake Butter, FL homes.

2. Hollywood Hills Celeb “Tree House” Listed for $3,695,000
See Ellen Degeneres’ former home. (below)
See more Hollywood Hills, CA homes.

3. Faith Hill and Tim McGraw Move Into Their Dream Home
See Faith Hill and Time McGraw’s home. (below)
See more Nashville, TN homes.

4. Halle Berry’s Beverly Hills Home Listed for $5 Million
See Halle Berry’s home. (below)
See more Beverly Hills, CA homes.

5. Home of Plastic Surgery Guru Dr. Robert Rey Listed for $4,395,000
See Dr. Robert Rey’s home. (below)
See more Beverly Hills, CA homes.

The rest is here:
Top 5 Most-Viewed Celebrity Homes in December

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Vanity Fair fans will be the most curious around the recent news that the New York City penthouse apartment of the late investigative journalist Dominick Dunne is listed for $1,250,000.

Dunne’s Turtle Bay-area penthouse apartment has one bedroom and one bathroom and includes French doors that open to a wrap terrace, a small study, and a living room with wood-burning fireplace.

After the tragic murder of his daughter, Dominique in 1982, Dunne became absorbed in covering crimes that had an element of celebrity; he covered the trials of O.J. Simpson, Claus von Bulow, Michael Skakel, William Kennedy Smith, and the Menendez brothers for Vanity Fair. Dunne was also from a family of celebrities. Dominique was an actress, son Griffin is an actor and director, his late brother was the novelist John Gregory Dunne and his sister-in-law is Joan Didion, the National Book Award winner in 2005 for “The Year of Magical Thinking.”

Dunne died this past August after losing a two-year battle to bladder cancer.

> See more photos of Dunne’s penthouse

Read more:

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