Reprinted from Architectural Digest

The 10 Most Expensive Celebrity Real Estate Transitions of 2019

Find out who tops the list with the purchase of three Manhattan apartments for a combined $80 million

Former Flettwood Mac member Lindsey Buckingham sold his fully customized Brentwood mansion for $29.5 million in June. Photo: Adam Latham; Courtesy Hilton & Hyland

By Abby Feiner

DeGeneres and De Rossi’s first real estate purchase of the year was also a big one. In February, they picked up a mansion in Montecito, California, for $27 million. While the Balinese-style main home, which features bamboo, flamed black limestone and distressed oak floors, has five bedrooms and 10 bathrooms, the couple’s new place also gives their visitors the option to stay in a lavish guesthouse on the 8.24 acre property.

8. Bruce Willis and Emma Heming Willis, $27 million

Bruce Willis and his wife, Emma Heming Willis, sold their Asian-inspired Turks and Caicos compound for $27 million—the second most expensive home sale in the country’s history, notes Sotheby’s International Realty—in July. The 13,500-square-foot property, which is technically part of the COMO Parrot Cay resort, features a five-bedroom main house, a yoga pavilion, and two guest casitas.1. Make sure your descendants actually want the house.

7. Lindsey Buckingham, $29.5 million

In June, former Fleetwood Mac guitarist Lindsey Buckingham sold his French-Normandy-inspired Brentwood mansion for $29.5 million. WeWork’s vice chairman Michael Gross was reportedly the buyer. The 10,000-square-foot home was custom built for Buckingham and his wife, interior designer Kristen Messner, in 2007 and features eight bedrooms, 10 bathrooms, and a two-story tower with its own spiral staircase.

6. Stephen and Ayesha Curry, $31 million

Stephen Curry’s new abode certainly holds court. In June, the NBA star paid $31 million for the three-story mansion in Atherton, California, making it the most expensive 2019 home purchase in the Bay Area. In addition to the main house, the property, which was built on spec earlier in the year, also has a separate guesthouse, poolside cabana, and separate three-car garage.

5. Tommy Hilfiger, $33.35 million

More than a year after selling his Manhattan duplex for $50 million, Sting bought a nearby penthouse for $65.7 million in July. At the time of purchase, it was reported that the musician’s new place has three bedrooms and five-and-a-half bathrooms within its 5,807 square feet.

1. Jeff Bezos, $80 million

It seems Jeff Bezos believes that good things come in threes. In June, the Amazon founder closed on a trio of Manhattan apartments for a combined $80 million. The sizable buy included a three-story, five-bedroom penthouse apartment in addition to the two units below, all of which overlook Madison Square Park.

How valuable are cash offers in residential real estate? As it turns out. . . VERY!

Cash offers do not require appraisals or approval from a lender (and if you have gone through that process recently, you know it can be tedious).  This enhances the certainty that a seller will get in the transaction (there are fewer ways for a buyer to back out as there are no appraisal or loan contingencies). Another benefit of a cash offer is that the closing can happen very quickly (within a matter of days). If the buyers have a mortgage, it is common for closings to take at least 30 days with rush closing possible in about 2 weeks, in some situations. A cash buyer is valuable enough that sellers will sometimes take a cash offer (with its greater certainty) over an offer with a mortgage that has a higher price. A cash buyer can often save some money due to the better terms they are able to offer which can provide significant value to a seller.  Depending on the list price, this could be $5K-$10K or more.  Of course, a cash buyer must provide proof of funds and is usually expected to put up a greater earnest money deposit (sometimes as much as 10% of the purchase price) in order to demonstrate to the seller they are not apt to walk away from the deal down the line.

We surveyed various towns and areas in Metro Chicago to determine which towns have the most cash buyers – here are the results (note that Chicago and suburban Cook County numbers are based on just one month of closed sales instead of 12 months like the other cities).

How many cash offers for homes in suburban cook county

How many cash offers for homes in deerfield

So it’s the Black Friday of Real Estate this week!!

It’s the Black Friday of Real Estate!

Have you heard? You can see the national stats in the article. Here are our New Trier Township stats:

May 2019 = 618 homes on market v. Sept 2019 = 514 homes on market. 17% decline in inventory.

May 17-24, 2019 = 451 showings v. Sept 17-24 = 333 showings. 26% decline in showings