Steve Martin Selling Longtime Home Near Montecito

BY MELISSA ALLISON | ZILLOW 
The concrete, work-of-art home is situated on 5.86 acres in the hills with views all the way to the ocean.

Photo: With Jack Black in The Big Year

He’s a wild and crazy home collector, but Steve Martin has lately been letting some real estate go.

The comedian and writer listed a villa in the French West Indies in 2013, Variety reported, and now he’s listed a home in Santa Barbara where he’s lived for at least two decades.

He’s asking almost $11 million for the modern-style home in eastern Santa Barbara, near Montecito. The house sits on 5.86 acres and was designed by Roland E. Coate, Jr.

The 7,377-square-foot home is built largely of concrete — including the walls and outdoor cylindrical sculptures — with views over the hills and to the ocean. It has 4 bedrooms, 5.5 baths, plus a detached 2-bedroom, 1-bath guest house and a 3-car garage.

The listing is held by Suzanne Perkins of Sotheby’s International Realty.

Martin, who still owns two homes on adjoining properties in Beverly Hills, starred in “The Big Year” with Jack Black in 2011 and more recently was the voice of Captain Smek in the animated films “Almost Home” and “Home.” But he’s becoming better known for his writing — such as “The Underpants,” a stage play now showing in Hartford, CT — and his music, including the CD “Love Has Come for You,” the title song for which he and singer-songwriter Edie Brickell won a Grammy last year.

Tips for a Happy Kitchen Remodel - Decorative backsplash rack

From TheFamilyHandyman.com  

Take advantage of unused storage space

Backsplash racks offer easy access and stylish storage. Most versions take just a few minutes to install. Type “backsplash rack” into any online search engine to find a range of styles. You’ll also find a range of prices (up to $60 per foot!). The stainless steel rails shown here cost about $3 per foot, and add-on shelves and bins range from $6 to $20 plus shipping at ikea.com 

Jennifer Lopez Lists Estate in Kardashian Neighborhood

BY MELISSA ALLISON | ZILLOW 
After buying homes in Manhattan and the Hamptons, J. Lo is selling the Southern California spread she bought with Marc Anthony.

Photo: The Boy Next Door

Jennifer Lopez appears to be migrating east.

The singer, dancer and actress — whose new movie, “The Boy Next Door,” just hit theaters — is asking $17 million for a 17,129-square-foot estate she bought in 2010 with then-husband Marc Anthony.

The 9-bedroom, 12-bath retreat sits on three acres in the heart of Hidden Hills, CA, where Kris Jenner and daughters Kim, Kourtney and Khloe Kardashian have all bought property.

The main home has 8 bedrooms, including a master suite with a large sitting area and fireplace, and a bookshelf-surrounded bathtub with a view, plus a private balcony. It features formal and informal living rooms, a dining room and kitchen with seating area.

The second home is for entertaining. It has a bar and lounge, 20-seat theater, recording studio, dance studio/gym and a bedroom suite with its own kitchen.

Lopez reportedly dropped $22.25 million on a Manhattan penthouse last fall and $10 million on a mansion in the Hamptons in 2013.

Not to be out-flipped, salsa icon Anthony has listed mansions in Long Island and Southern California.

Lopez’s Hidden Hills listing is held by Matthew Gaskill and Alisa Peterson of Sotheby’s International Realty

.

Top 10 Home Improvement Projects - 6

By: Michele Lerner
Realtor.com

Replace Your Windows

Buyers are interested in how your windows look and their energy efficiency. Whether you’re replacing vinyl- or wood-frame windows, you can get a 79 percent return on your investment. When you’re ready to market your home, be sure to highlight the new windows as a selling point.

What is a Home Equity Line of Credit?

From EnlightenMe.com

A home equity line of credit is an amount of money a lender is willing to lend to a homeowner using the homeowner’s property as collateral. In other words, a home equity line of credit allows you to tap into equity stored in your home, or the value of your home that you own that exceeds the amount owed on the mortgage. A Home equity line of credit is often abbreviated as HELOC and can come in many forms.

Applying for a Home Equity Line of Credit

Most banks determine how large of a home equity line of credit to grant by using the appraised value of the home, minus the amount of money you still owe on the mortgage. If the appraised value is $100,000 and you still owe $75,000, then there is $25,000 equity in the home. Most banks will allow a homeowner to borrow up to 75 or 80 percent of the equity, or in this case between $18,750 and $20,000.

Lenders also take into consideration the borrower’s ability to repay the loan. The lender determines this by looking at the borrowers income, debts and credit score.

How Does a Home Equity Line of Credit Work?

A home equity line of credit usually has a set period in which the borrower can use the credit line; ten years is a common timeframe. Once this period is up, the borrower must renew the HELOC if he wishes to continue using the line of credit. This period is called a “draw period.” Some plans do not allow the borrower to renew the home equity line of credit at the end of the draw period. Other HELOCs require that the balance due at the 10-year mark is paid in full or there may be a set repayment period to allow the borrower to pay off any existing balance.

There are various ways to draw money from the home equity line of credit. Some lenders give the borrower special checks and some issue a credit or debit card. Depending on the lender, you may have to borrow a minimum amount each time you want to draw on the home equity line of credit. Some lenders may require you to keep a minimum outstanding balance.

Costs of a Home Equity Line of Credit

There are usually costs involved with setting up a home equity line of credit. These costs include an appraisal fee, an application fee, points and closing costs. Closing costs include attorney’s fees, title search fee, mortgage preparation fee, filing fees, property and title insurance and taxes.

You will also have to pay interest on the amount you borrow. Before taking a home equity line of credit, check with the bank to determine what the annual percentage rate (APR) will be. HELOCs generally have variable rates, which means the rates change and are based on an index such as the LIBOR or U.S. treasury bill rate. Percentage points are also attached to the rate, which means if the rate is tied to the LIBOR index and this index is at 5 percent, the APR on your home equity line of credit will be 5 percent plus percentage points.

'Gossip Girl' Leighton Meester Unloading Encino Home

BY MELISSA ALLISON | ZILLOW 
Now that she’s married, the actress is listing the ranch-style bachelorette pad with refinished floors, smart-home technologies and a saltwater pool.

Source: IMDb

One way “Gossip Girl” star Leighton Meester and actor Adam Brody appear to be celebrating their upcoming one-year wedding anniversary is by listing the bachelorette pad she bought in 2011, when she moved from New York to Los Angeles.

Meester is asking $2.35 million for the 4 bedroom, 4.5-bath ranch-style home near Ventura Boulevard. The tiered backyard, which is fenced and surrounded by trees, boasts a saltwater swimming pool and a separate pool house with a built-in barbecue grill, speakers and a bar.

She’s redecorated, and the 2,847-square-foot home now features marble countertops, smart-home technologies and refinished floors.

The actress, who played in “Of Mice and Men” on Broadway last year, is exercising her singing chops now with a tour that features her debut album, “Heartstrings.”

The listing is held by Michael Morabito of Sotheby’s International Realty.

Tips for a Happy Kitchen Remodel - Gain precious counter space

From TheFamilyHandyman.com

Install under-cabinet storage racks

Pull-down racks give you instant access to kitchen essentials without the clutter of spice racks or knife holders. When the cooking is done, the rack swings up against the underside of the cabinet. You can buy ready-made racks or buy a pair of hinges and make your own wooden rack to hold knives, spices or other small items that take up counter space. You’ll find a variety of racks and hardware at ikea and other online retailers.

Marc Anthony Hopes to Dance 'Libre' of Two Mansions

BY MELISSA ALLISON
ZILLOW

The King of Salsa is asking $12 million for a Long Island estate he owned through his marriage to Jennifer Lopez, and $2.75 million for a Spanish-style home in Southern California.

Source: Miguel Angel Rodriguez via Flickr Creative Commons

Marriage has made salsa phenom Marc Anthony want to “Vivir Mi Vida” with two fewer mansions. The singer has listed two homes, one on each coast, since he wed Venezuelan model Shannon De Lima last November.

The most recent listing asks $12 million for a compound in Long Island’s exclusive Brookville area.

The centerpiece, as The New York Times first reported, is a sprawling 10-bedroom, 8-bath manor that includes five powder rooms, 8 fireplaces, a mahogany-paneled library and a large butler’s pantry. Amenities include a home theater, professional recording studio and an oversized master bathroom with its own fireplace.

For guests, there’s a 4,800-square-foot Colonial with 5 bedrooms and 4.5 baths that the Times said Anthony remodeled with an “all-white motif.”

The grounds also include an oversized pool, tennis court and carriage house. The listing agent for the home, which Anthony bought in 2000 and owned through his marriage to Jennifer Lopez, is Dolly Lenz of Dolly Lenz Real Estate.

That’s just for starters.

Eight days after his wedding, Anthony also listed a Spanish-style mansion in Southern California for $2.75 million.

The 6-bedroom, 9-bath home in Encino, CA features a home theater, wine room, indoor/outdoor bars and a master bathroom with, you guessed it, its own fireplace.

That listing is held by Andrew Mortaza of Keller Williams World Media Center.