A report from the Seattle Times in Washington. "Seattle-area homebuyers have a bit of good news as the middle of the housing market continues to come down from what one local housing economist calls last summer’s 'sugar high.' April’s median price of a single-family home in King County dipped to $690,000, down a substantial 4.8% or $35,000 from the April figure last year, according to the Northwest Multiple Listing Service."

"April’s decline was even more dramatic in the condo market.
In King County, the median price for a condo unit fell 9.6% in April over the same period a year ago, to $403,750. 'Buyers definitely have more room to negotiate,' said David Palmer, a listing specialist with Redfin who covers Seattle and King County. Palmer said he has seen 'some condo buildings downtown where units are upside down' — that is, where the likely selling price is less than the owner paid."

"The largest part of the market — the middle — showed definite cooling. In the Ballard/Greenlake/Greenwood area, for example, April’s median price fell 9.5%, to $783,000. In West Seattle, the median price fell 6.3%, to $657,000. In Juanita-Woodinville, it fell 7.2%, to $730,900."

The Orange County Register in California. "Homebuying in Newport Beach, Laguna Beach and Costa Mesa fell 27.2% percent in what was Orange County homebuying’s slowest start to a year since 2009. Not only did CoreLogic stats show the lowest countywide sales count for any first three months of a year since the Great Recession, it was the third-slowest-selling first quarter in the real estate tracker’s database that dates to 1988."

"At the community level, sales rose in only one-sixth of Orange County’s 83 ZIP codes. With the slump, prices fell countywide, too, down 2.1% in a year. Newport Beach 92660: $1,528,000 median, down 17.1% in a year. Newport Beach 92662: $3,400,000 median, down 18.1% in a year."

The Connecticut Post. "April 2019 was a big month for celebrity real estate in Connecticut. In one month, three major stars made headlines. Musician Paul Simon put his New Canaan, Conn. estate on the market for $13.9 million. The Wall Street Journal reported that that is 16 percent less than Simon paid for it in 2002."

"Rapper 50 Cent finally sold his Farmington, Conn. mansion after 12 years. The 51,657-square-foot residence sold for $2.9 million, according to the Wall Street Journal. That's an 84% discount from its original list price of $18.5 when it hit the market in 2007. It had languished there, undergoing price cut after price cut."

"'It was just priced too out of whack,' said luxury real estate broker Dolly Lenz of the original price tag. 'There's never been a house there that's sold for anywhere near that number.'"

The Washingtonian. "Does anyone want Kevin Plank’s house? The Under Armour CEO has been trying to unload his Georgetown home for more than a year. Its initial asking price: an eyebrow-raising $29.5 million. Even with a recent price drop, that’s above $2,000 a square foot—almost triple the median price-per-square-foot for a Georgetown abode."

"May 2013: Plank buys the 12,200-square-foot 34th Street residence for $7.85 million. 2015: Plank overhauls the property, adding a nearly $1-million, 22,000-pound marble grand staircase. February 2018: That must have been a heck of a redecoration. Plank privately lists the home for $29.5 million—almost $22 million more than he paid for it."

"March 2019: With no buyer after 12 months, Plank knocks millions off the price. Now the 14 bathrooms, whiskey cellar, and 34-foot ballroom will set you back only $24.5 million."

From Crain's New York Business. "A large site in Washington Heights sent its would-be developer into a downward spiral will finally be sold at auction in the coming months. The property, at 33-35 Overlook Terrace, will be brought to auction in about three months, the site's owner, his lawyer and other sources confirmed. The entity that owns it plunged into bankruptcy last year, after Rutherford 'Ruddy' Thompson failed to turn the site into pricey condominiums. It was the culmination of a litany of bad decisions and lousy luck that left Thompson's life in tatters."

"More than $30 million of debt against the property is held by Amalgamated Bank. It remains unclear what a bidder will pay for the site and whether it will be enough to make the lender whole."

"The saga helped wreck Thompson's finances and personal life and caused other collateral damage. In a conversation with Crain's, Thompson claimed he has been financially ruined by the development and is being evicted from his apartment on the Upper West Side where he said he is in arrears on his rent by about $100,000."

"'If I don't get any proceeds from this sale, I'll have absolutely nothing,' Thompson said. 'No place to live. No money.'"