‘CBS Sunday Morning’ Host Jane Pauley Sells Hudson River Retreat for $6.3M

Jane Pauley Palisades HomeGilbert Carrasquillo/FilmMagic

The host of “CBS Sunday Morning,” Jane Pauley, has hosted a sale of her Palisades, NY, retreat for $6.3 million.

Pauley and her husband, Garry Trudeau, the creator of the comic strip “Doonesbury,” profited from their investment. The couple purchased the picturesque property for $2.3 million in 2015, real estate records show. They successfully sold the home in July.

Known as the “House in the Woods,” the four-bedroom, 4.5-bathroom, Tudor-style stone cottage offers scenic views of the Hudson River. Completed in the 1920s, with over 3,100 square feet of interior space, the waterfront abode had been off market when it was quietly sold.

Jane Pauley’s Hudson River home

realtor.com

While scant details are available, we do have some information from earlier occasions when the vacation getaway popped up on the market.

The small home comes with big names attached to it. The author John Steinbeck called the place home in the 1940s, as did the filmmaker Orson Welles and the English stage and screen stars Sir Laurence Olivier and Vivian Leigh. 

The private enclave where the home is located, Sneden’s Landing, is less than an hour from Manhattan and has attracted notable residents for decades.

Other A-list residents in the Hudson River hamlet have included Bill Murray, Dan Aykroyd, and Al Pacino. Scarlett Johansson reportedly bought a home in the village in 2018, and Angelina Jolie spent some of her childhood years there.

The original owners were apparently inspired by homes they saw on a trip through the French countryside, according to a previous listing description.

Hand-built with stone, brick, and mortar, the house features chestnut wood plank floors made from trees on the property. Other details include three fireplaces, leaded glass windows, and a slate roof. Two large millstones have been incorporated into the stone fireplace.

Surely, this haven for Hollywood will continue to be a draw. On a bluff over the Hudson River, the country hideaway is close enough to the city for a quick escape from urban life. Potentially, the new owner might be able to add to the 2.4-acre property.

Pauley, a long-time broadcast journalist, anchors “CBS Sunday Morning.” Previously, the Emmy-Award winner held a position with NBC’s “Today” show, and she has also co-hosted “Dateline.”

Trudeau, who won a Pulitzer Prize for “Doonesbury” in 1975, also executive produces the Amazon Studios series “Alpha House.”

The post ‘CBS Sunday Morning’ Host Jane Pauley Sells Hudson River Retreat for $6.3M appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

Extreme Makeover’s Ty Pennington Lists Bright and Beautiful Venice Beach Home

Reality TV star Ty Pennington, known for changing people’s lives with his energetic personality on the original version of Extreme Makeover: Home Edition, is now looking to cash in on his own home makeover. Pennington has just listed his house — a beautiful and bright 1927 Craftsman in Venice, Calif. — for $2,795,000.

Pennington put his home design expertise to good use and carefully restored the property earlier this year with the help of his trusted interior designer, Patrick Delanty. Delanty, also known to be Halle Berry’s designer, has long been working alongside Ty Pennington, serving as his design director for Extreme Makeover and running his on-air design segments, most notably his presence on The Oprah Winfrey Show, Rachel Ray Show, NBC’s Nightline and Good Morning America.

Just like its reality TV star owner, the home is bright, cheerful and quirky, with colorful interiors exuding creativity and style. The property is listed by Patrice Meepos of Compass.

inside ty pennington's bright home in venice, california
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

Tucked away on a one-way street near the beach, Venice Boardwalk, canals and Abbot Kinney’s hot spots, the original 1927 dwelling has 3 beds, 3 baths, and a sizable living room with decorative fireplace, along with a sunken family room with large windows overlooking a newly landscaped, private back yard with koi pond.

inside Ty Pennington's house in Venice, CA
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
living room in Ty Pennington's house in Venice, CA
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington bedroom
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
sunken living room in ty pennington's house
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
inside Ty Pennington's house in Venice, CA.
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

The ground level hosts the kitchen, laundry room, and bedroom with direct backyard access, as well as a full bath. On the upper level, there’s a master retreat and a second bedroom. 

Ty Pennington added quite a few special touches to the 2,102-square-foot home, including bamboo flooring, baths adorned in vintage-inspired ceramic tile, a master bath sporting a standalone shower and an antique cast-iron freestanding tub, kitchen with concrete countertops and a wraparound, porcelain-tiled porch. There’s also a beautiful backyard that looks like a great place to entertain guests.

ty pennington kitchen
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington kitchen island
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington backyard
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington backyard entertaining area
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

While Ty Pennington did not return to host HGTV’s 2020 version of Extreme Makeover: Home Edition (which is hosted by Modern Family‘s Jesse Tyler Ferguson), you can catch the two time Emmy award winner in his other home improvement series, Trading Spaces — which recently restarted airing after a 10-year hiatus.

You can also get more tips from the home design expert from his latest book, Good Design Can Change Your Life, which is an intimate look at Ty’s design inspirations and is full of décor advice and tips. While we haven’t yet had the chance to pick up the book ourselves, according to his website the book is part reference, and part behind-the-scenes from Ty’s own home remodeling, which means the Venice home is already a bookshelf hit.

More beautiful celebrity homes

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Wayne Gretzky is Selling his $22.9M California Home Designed by ‘The Megamansion King’
Chrissy Teigen & John Legend Buy $17.5M Beverly Hills Mansion After Cashing Big on Previous Home
5 Fabulous Homes of Your Favorite Formula 1 Drivers

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Source: fancypantshomes.com

How to Calculate Expected Rate of Return

The basic idea behind investing is finding ways for your money to earn you even more money. Getting your money to do work for you? Yes, please.

But how do you figure out how much your investment is going to make you?

The money that you earn on an investment is known as your return. The rate of return is the pace at which money is earned or lost on an investment.

If you’re going to invest, you may want to consider how much money that investment is likely to earn you. Though it’s not possible to predict the future, having some idea of what to expect can be critical in setting expectations on what’s a good return on investment.

Rate of Return Formula

It helps to start with a base knowledge of a simple rate of return calculation.

A rate of return is typically expressed as a percentage of the investment’s initial cost. For example, an investment that grew from $100 to $110 has a 10% rate of return. Here’s the rate of return formula:

Rate of return = [(Current value − Initial value) ÷ Initial Value ] × 100

In our example, the calculation would be [($110 – $100) ÷ $100] x 100 = 10

So this investment had a 10% rate of return (RoR) during this period.

Expected Rate of Return Formula

Next, consider the expected rate of return. This is the return an investor expects from an investment, given either historical rates of return or probable rates of return under different scenarios. The expected return formula projects potential future returns.

To determine the expected rate of return based on historical data, it can be helpful by starting with calculating the average of the historical return for that investment. More on this calculation below.

This strategy may be useful when there is a robust pool of historical data on the returns of that particular asset type, but remember that past performance is far from a guarantee of future performance.

To calculate an expected return based on probable returns under different scenarios, you’ll need to give each potential return outcome a probability.

For example, you might say that there is a 50% chance the investment will return 20% and a 50% chance that an investment will return 10%. (Note: All the probabilities must add up to 100%.) Next, multiply each scenario’s probability percentage by the investment’s expected return for that period. Then, add those numbers together (Hint: 15% is the answer).

The formula for expected rate of return looks like this:

Expected Return = SUM (Returni x Probabilityi)

(Where “i” indicates each known return and its respective probability in the series.)

How to Calculate Expected Return Using Historical Data

To calculate the expected return using historical data, you’ll want to take an average of each outcome. Here’s an example of what that would look like.

Year

Return

2000 14%
2001 2%
2002 22%
2003 34%
2004 5%
2005 -18%
2006 -21%
2007 29%
2008 6%
2009 16%
2010 22%
2011 1%
2012 -4%
2013 8%
2014 -11%
2015 31%
2016 7%
2017 13%
2018 22%
Average 9%

In this example, the average rate of return is 9%. When using historical data, you may want to consider your pool of data. Are you using all of the data available? Or only data from a select period? If you are only using some data and not others, why?

How to Calculate Expected Return Based on Probable Returns

When using probable rates of return, you’ll need the additional data point of the expected probability of each outcome. Remember, the probability column must add up to 100%. Multiply the return by the probability and add the outcomes together to get the expected rate of return. Here’s an example of how this would look.

Scenario

Return

Probability

Outcome

1 14% 30% 0.042
2 2% 10% 0.0028
3 22% 30% 0.066
4 -18% 10% -0.018
5 -21% 10% 0.00441
100% 0.09721

Using the formula above, in this hypothetical example, the expected rate of return is 9.7%.

Limitations of the Expected Returns Formula

Having historical data can be a good place to start in your journey of understanding how an investment behaves. That said, investors may want to be leery of extrapolating past returns for the future. Historical data is a guide, it’s not necessarily predictive.

Another limitation to the expected returns formula is that it does not take into account the risk involved by investing in a particular asset class. After all, investing can be inherently risky.

And risk and return are often two sides of the same coin. In order to achieve a higher rate of return, you’ll most likely have to take more risk. The risk involved in an investment is not represented by its expected rate of return.

Look at the first example. In this example, which uses historical returns, 9% is the expected rate of return. What that number doesn’t reveal is the risk taken in order to achieve that rate of return. The investment experienced negative returns in the years 2005, 2006, 2012, and 2014. The variability of returns is often called volatility.

Sometimes, investment risks and managing them come with the possibility of losing money. Knowing this, it might be misguided to assume that 9% annual returns were going to show up as positive 9% returns each and every year. To achieve 9% average returns, there must be some risk involved.

Systematic and Unsystematic Risk

All investments are subject to pressures in the market. These pressures, or sources of risk, can come in the form of systematic and unsystematic risk. Systematic risk affects an entire investment type. Within that investment category, it probably can’t be “diversified” away.

Because of systematic risk, you may want to consider building an investment strategy that includes different asset types. For example, a sweeping stock market crash could affect all or most stocks and is, therefore, a systematic risk.

In the stock market, unsystematic risk is risk that’s specific to one company, country, or industry. For example, technology companies will face different risks than healthcare companies and energy companies. This type of risk can be mitigated with portfolio diversification, the process of purchasing different types of investments.

To be a savvy investor, it’s helpful to understand the risks involved with each asset class you’re looking to invest in. One way is to consider the standard deviation of an investment. Standard deviation measures volatility by calculating the dispersion (values’ range) of a dataset relative to its mean. The larger the standard deviation, the larger the range of returns.

Consider two different investments. Investment A has an annual return of 9%, and Investment B has an annual return of 6%. But when you look at the year by year performance, you’ll notice that Investment A experienced significantly more volatility. There are years where returns are much higher and lower than with Investment B.

Year

Investment A

Investment B

2000 14% 11%
2001 2% 12%
2002 22% 12%
2003 34% 3%
2004 5% 8%
2005 -18% -1%
2006 -21% -5%
2007 29% 11%
2008 6% 1%
2009 16% 8%
2010 22% 4%
2011 1% 3%
2012 -4% 0%
2013 8% 7%
2014 -11% -4%
2015 31% 9%
2016 7% 5%
2017 13% 15%
2018 22% 14%
Average 9% 6%
ST. DEV. 16% 6%

On Investment A, the standard deviation is 16%. On Investment B, the standard deviation is 6%. Although Investment A has a higher rate of return, there is more risk. Investment B has a lower rate of return, but there is less risk. Investment B is not nearly as volatile as Investment A.

<Expected Rate of Return vs Required Rate of Return

The required rate of return is a concept in corporate finance. It’s the amount of money, or the proportion of money received back from the money invested, that a project needs to generate in order to be worth it for the investor or company doing it.

This matters for investors because it’s a way of thinking about the relationship between the risk of an investment and the potential profitability or return that can be garnered from it. For the investor, the required rate of return can be applied to stocks.

What is the Dividend-Discount Model?

There are different ways of calculating the required rate of return for stocks.

One is the “dividend-discount model,” which can be used for stocks that pay out high dividends and have steady growth. In this model you get the stock’s value by dividing annual expected dividends by the required rate of return minus the dividend growth rate. By moving around the terms, you can find the required rate of return by dividing the dividend payments by the stock price and adding the growth of dividends.

So, if you have a stock paying $2 in dividends per year and is worth $30 and the dividends are growing at 2% a year, you have a required rate of return of:

$2/30 + .05,
.066 + .05
For a required rate of return of 11.67%

What is the Capital Asset Pricing Model?

The other way of calculating the required rate of return is using a more complex model known as the “capital asset pricing model.”

In this model, the required rate of return is equal to the “risk free rate” plus what’s known as “beta” (the stock’s volatility, or its change in price, compared to the market) which is then multiplied by the market rate of return minus the risk free rate.

For the risk free rate, we can take the yield on 10-year Treasuries, which is about 1% or .01, a beta of 1.5, and the market rate of return of 5% or .05.

So using the formula, the required rate of return would be:

RRR = .01 + 1.5 x (.05 – .01)
RRR = .01 + 1.5 x (.04)
RRR = .01 + .06
RRR = .07, or 7%

What is the Real Rate of Return (RoR)?

Another important formula to know is the “real rate of return.” What makes the real rate of return distinct from other formulas is how it takes into account inflation. This matters because the reason to invest in assets like stocks, bonds, property and so on is to generate money to buy things — and if the cost of things is going up faster than the rate of return on your investment, then the “real” rate of return is actually negative.

This is especially important for low risk investments in things like money market mutual funds or bonds, which are supposed to pay out steadily and provide cash flow, as opposed to stocks which typically are valuable for how the stocks themselves go up in price.

The rate of return is the conversion between the present value of something from its original value converted into a percentage. The formula is simple: It’s the current or present value minus the original value divided by the initial value, times 100. This expresses the rate of return as a percentage.

To understand the real rate of return, we must first understand what the simple or nominal rate of return is. You have to first be able calculate this before moving on to the real rate of return.

Real Rate of Return (RoR) vs Nominal Rate of Return (RoR)

What we calculated above was the “simple” or “nominal rate of return,” a measure of how much the value of something has grown over time compared to when it was purchased.

Another way of thinking of rates of return is on assets that generate interest or yield. A certificate of deposit that pays 3% has a 3% simple or nominal rate of return. But then there’s inflation.

This formula is (1 + the nominal rate)/(1 + inflation rate) -1

So in our example of a 3% yielding CD and a 2% inflation rate, the real rate of return would be

(1+.03)/(1+.02) – 1
.0098
.98% = real rate of return

Real Rate of Return (RoR) vs. Compound Annual Growth Rate (CAGR)

If the real rate of return is a way to compare the value of an investment from when purchased to a given point of time, the compound annual growth rate is a way of measuring how much the investmentment has grown on average per year.

This can be useful because it’s a way of comparing investments over annual timespans. This is useful because typically investments are thought of as being held over a given time period and you want to compare which investment is most appropriate or will generate the biggest gains.

The compound annual growth rate does not tell you how much an investment’s value has grown in a given year, but it does give you a basis of comparison. Another assumption of the compound annual growth rate is that any profits from the investment are re-invested.

The formula for the compound annual growth rate is:

CAGR = (present or final value/starting or initial value)^1/n – 1, where n is the number of years.

So let’s look at a stock which you purchased for $50 in 2008 and has now grown to $200 in 2020. The simple rate of return for this stock would be 300%, which sounds impressive. But let’s look at its compound annual rate of return.

CAGR = (200/50)^1/12 – 1
CAGR = 4^.0833 – 1
CAGR= 12.25%

This 12.25% seems more modest than the 300% rate of return, but it’s useful to compare to other annual rates of returns, like from the market as a whole, from treasury bonds, dividend-stocks and more.

Building an Investment Portfolio

Once you’ve done your research on the risk and return characteristics of the different asset classes, you may feel ready to start investing.

If your goal is to build an investment portfolio, you may want to consider diversifying. Diversification is the process of buying assets that are hopefully non-correlated; the performance of one is not necessarily related to the performance of the other. For example, you could build a portfolio of stocks and bonds, two non-correlated asset classes.

To do this, you can buy stocks and bonds directly, or you can buy them within funds. Funds can provide a way to achieve a diversified portfolio because they bundle many different investments together.

One fund could hold hundreds or even thousands of stocks, bonds, or other investments. For example, an S&P 500 index fund invests in the 500 leading companies in the United States. But the variety of funds doesn’t stop there. There are funds that invest in countries and industries all over the globe.

With SoFi Invest®, you can keep costs such as transaction costs and account fees low in order to build out your portfolio—whether you want to buy stocks or exchange-traded funds (ETFs). If you would like help creating an investment portfolio, SoFi Automated Investing uses a portfolio of ETFs based on your goals, risk tolerance, and projected timeline.

Ready to start investing? Download the SoFi app to get started.


SoFi Invest®
The information provided is not meant to provide investment or financial advice. Investment decisions should be based on an individual’s specific financial needs, goals and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . The umbrella term “SoFi Invest” refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
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For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, http://www.sofi.com/legal.

Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
Disclaimer: The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
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Lakers Star Anthony Davis Sells Westlake Village, CA, Mansion for $6.6M

Anthony Davis Westlake Village Houserealtor.com, Douglas P. DeFelice/Getty Images

The NBA All-Star Anthony Davis has sold his trophy home in Westlake Village, CA, for $6.6 million, the Los Angeles Times reported. The Los Angeles Lakers center let the place go for a loss. The massive property last changed hands in 2018 for $7,479,000, according to realtor.com®.

Davis apparently nabbed the property while he was still playing for the New Orleans Pelicans. He then attempted to flip the home this spring for just under $8 million.

He cut the price in October to $7.5 million, and it sold at the end of the year at the even lower amount, leaving Davis with a rare loss—in real estate, at least.

Perched in the guard-gated North Ranch Country Club Estates, the 15,815-square-foot residence offers five bedrooms, six full bathrooms, and two half-bathrooms. Built in 1996, the contemporary Mediterranean has been expanded and remodeled over the years.

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The property is clearly designed with a basketball star in mind. The layout includes a full indoor court and sports gym. 

You enter from a motor court into a grand, two-story entry, and the floor plan includes formal living and dining rooms. A remodeled kitchen, with granite counters, double islands, and a pantry, adjoins a breakfast nook. The enormous master bedroom includes a fireplace, en suite bathroom, and walk-in closet.

Other stand-out features include a home theater, office, rec room, wine cellar, and separate guesthouse.

The 2.33-acre spread has an infinity-edge pool with dual slides, water features, and spa. The resort-style grounds continue with a covered outdoor kitchen, manicured turf, sundecks, and sunken trampoline.

Other amenities include outdoor security cameras, smart home technology, and solar panels. A four-car garage completes the property.

But “The Brow” isn’t without a place to rest his head. He had been renting a swanky Bel-Air mansion for a steep, $50,000 monthly lease, according to TMZ. The six-bedroom baller estate in a gated community features a gourmet kitchen, gym, pool, and basketball court, which he seems to prefer on his properties.

A native of Chicago, Davis, 27, was selected by the New Orleans Hornets (now Pelicans) in 2012. The seven-time All-Star was also named the All-Star Game MVP in 2017. He moved to the Lakers in 2019, where he helped the team clinch the NBA championship in 2020.

Jordan Cohen, estate director with Re/Max One, held the listing.

The post Lakers Star Anthony Davis Sells Westlake Village, CA, Mansion for $6.6M appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million

An Upper East Side apartment that was once home to one of the most significant American cultural personalities of the 20th century has recently hit the market.

The Art Deco masterpiece at 895 Park Avenue was previously owned by famed composer and cultural icon Leonard Bernstein, whom music critics refer to as “one of the most prodigiously talented and successful musicians in American history”. In fact, this very property is where Bernstein — also a lifelong humanitarian, civil rights advocate, and peace activist — hosted an infamous “radical chic” party with and in support of the Black Panther Party back in 1970.

But its famous past owner is not the building’s only historical trait; built in 1929, it is designed in the classic Art Deco style, evoking New York City’s golden age glamour and sophistication. That, paired with its carefully preserved original architectural details (original wood-burning fireplaces and wide-plank wood floors) and panoramic Manhattan views make this residence a true gem.

perfect manhattan views from luxury apartment
Image credit: Warburg Realty

Clocking in at approximately 6,300 square feet, with an extra 700 square feet of private outdoor space, the 895 Park Avenue unit spans over two floors of the 21-story Upper East Side building. The entrance is through a private elevator landing which opens into a 34-foot grand gallery, further leading into the residence’s elegant formal living room, library, and dining room.

With 6 bedrooms and 6.5 bathrooms, the trophy apartment also comes with an enclosed solarium that’s bathed in sunlight and that, just like the rest of the rooms and outdoor spaces, opens up to picture-perfect views of the city.

beautiful solarium in Manhattan apartment
Image credit: Warburg Realty
Image credit: Warburg Realty
Image credit: Warburg Realty

A grand staircase leads to the lower level, which houses the 6 bedrooms, as well as a home office and laundry room. All but one of the bedrooms enjoys their own en-suite bathroom as well as significant storage space in the form of walk-in closets or dressing rooms.

Image credit: Warburg Realty

The building itself adds an extra note of sophistication and convenience; the full-service white glove co-op has a long list of amenities, including multiple doormen, an elevator attendant, health club, squash court, basketball court, and private storage units. Though location itself may be its biggest asset: 895 Park Avenue is located right in the heart of the Upper East Side, on the southeast corner of 79th street and Park Avenue, providing direct access to world-class dining and shopping.

Priced at $29.5 million, the elegant unit is listed with Bonnie Chajet, Allison Chiaramonte, and Tania Isacoff Friedland of Warburg Realty.

More luxury apartments

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Source: fancypantshomes.com