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This Week’s Real Estate News of Note

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KB Homes To Build Martha Stewart-Style Homes

Who says there isn’t life after prison? Certainly not fashion maven, Apprentice star and now new home brand, Martha Stewart. Martha Stewart Living Omnimedia co-announced with KB Homes on Wednesday that the Martha Stewart brand would extend itself from hand towels and kitchen utensils to include a new line of KB Homes.

The homes, inspired by homes Stewart owns in New York and Maine, will be created by KB Home and co-designed by Martha Stewart. The first set of homes will be 650 in number, built in Cary, North Carolina in KB Home’s KB Home Twin Lakes development project. Homes will range from the $200s to $400s, from 1,500 to 4,100 sq. ft. and will have flooring, faucets, cabinets and other fixtures for home buyers to choose from at a KB Homes showcase, all selected by Stewart, herself, according to Reuters.

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Oxford at Tampa Palms Announced

Straight from the e-mail they sent to me announcing the project:

Oxford Place offers its residents a life of luxury and status at an attainable price. One, two, and three-bedroom floorplans feature oversized gourmet kitchens, garden-style tubs, and available garages. Some of the many community amenities you will enjoy include a resort-style swimming pool with sundeck, sauna, state-of-the-art fitness center, and a community clubhouse—perfect for social gatherings. To top it off, you’ll be right across from Tampa Palms Golf and Country Club, boasting world-class dining, golf, tennis, fitness, and spa facilities.

They say these will be priced from the low $100s when made available to the public. They’re not available now because of state guidelines stating that units must first be made available to current tenants before the general public, they say.

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Trump To Sell America’s Most Expensive Home

Luxist reports that the $125 million home located in Palm Beach, Fla. boasts 43,000 square feet of space, including seven bedrooms, on six oceanfront acres. Apprentice Kendra Todd is handling marketing of the home. A billionaire is already reportedly interested in the mansion. The incredibly large estate home will officially be on the market Nov. 1. The home is believed to be the most expensive home in the U.S.

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Interest Rate Update

While mortgages did edge slightly above the 6 percent range earlier in the week, they ended the week at 5.66 percent for the 30-year fixed. The 15-year fixed was at 5.24 percent, while the popular 5/1 adjustable rate mortgage (ARM) ended at 5.19 percent. The 5/1 jumbo ARM ended at 5.25 percent, while the 30-yearfixed jumbo ARM ended at 5.91 percent. Rates are belived to be remaining low due to lower consumer confidence, caused by higher gasoline prices and overall inflation. Do not expect rates to remain this low forever, though, as they will continue to edge up, given current market conditions.

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That’s this week’s real estate news of note. You can find out more about real estate news and Florida real estate in general at Tampa Bay’s Inside Real Estate Journal.

-John Mudd
“Mr. Real Estate”

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