From Georgetown, SC comes a question in Zillow Advice by stepdad who asks:

Should I sell now at a loss to be able to take advantage of rates and lower priced homes?

“I purchased a 1999 manufactured home on 1 acre in 2007 for $83,500. It appraised at $91,000. It had no landscaping and the lot was grown over. I have added 1,600 sq ft. 2 car carport, work shop, covered porch, etc. I have put over $23,000 in as well as landscaped, etc. It just appraised for $101,000. Should I sell now or wait. I want to take advantage of the low interest rates and home prices to get into a stick built home. At any time a hurricane could wipe it all out since I live on the coast. I have had it FSBO for 1 month at $105,000 now and only one offer at $102,000. Any advice? Thanks.”

Most shared the same sensibilities: Take the money and run!

Do you have a real estate question? Ask the community in Zillow Advice!

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Over the past few weeks we’ve shown you apartments for rent in cities across the country and, post-by-post, the kinds of homes one can get at escalating prices. So far, we’ve done everything from apartments you can get for $1,500 in rent to apartments that are a bit pricier at $3,500 in rent.

This week, we’re ramping it up again and showing you what you can get for $4,000 per month in rent in some of America’s best, most expensive cities.

Using Zillow’s search by monthly rent feature (image, left), you can easily browse cities and neighborhoods to see what’s for rent in any price range. Not only can you see apartments for rent on Zillow, but you can also post your home for rent!

Seattle, WA: $3,950/month

For Rent – 1942 4th Ave W Seattle, WA 98119

> See more Seattle, WA apartments for rent

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Los Angeles, CA: $3,800/month

For Rent – 1037 N Laurel Ave West Hollywood, CA 90046

> See more Los Angeles, CA apartments for rent

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New York, NY: $3,950/month

For Rent – 21 E 22nd St. APT 5D New York, NY 10010

> See more New York, NY apartments for rent

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Chicago, IL: $4,000/month

For Rent – 1675 N Western Ave Chicago, IL 60647

> See more Chicago, IL apartments for rent

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Boston, MA: $3,850/month

For Rent – 75 Clarendon St Boston, MA 02116

> See more Boston, MA apartments for rent

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Washington, D.C.: $3,900/month

For Rent – 811 4th St NW Washington, DC 20001

> See more Washington, D.C. apartments for rent

If you’re interested in doing some searches of your own, take a look Zillow’s apartments and homes for rent or, post your own home for rent.

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Do you have a favorite real estate blogger that fills you in on everything you need to know about real estate in your area? Then, this is your chance to show them your appreciation with your vote! Today, we are kicking off a competition that will eventually anoint a blogger as having the “Best Real Estate Blog” in their city, as chosen by the people of that city.

Here’s how it works: We have identified the top real estate bloggers in each of the cities mentioned below. You, the fans, can vote on your favorite blogger by clicking on your city’s link below. Look for the graphic, “Vote for the best real estate blog” on the right-hand side of the page (you might have to scroll down a bit) and then, click on it. You will see a list of bloggers we’ve nominated. Please vote for your favorite blogger. And, you can vote once a day through noon (PST) on Aug. 11 before voting stops.

Each winner will receive a badge to post on his or her blog to indicate they won the blog showdown, plus they will receive a link from Zillow.com!

Here are links to the city pages where the contest is currently running. Please vote! (Note: Don’t forget to scroll down to find “vote” button on the right-hand column).

Baltimore Real Estate
Chicago Real Estate
Dallas Real Estate
Houston Real Estate
Jacksonville Real Estate
Oklahoma City Real Estate
Philadelphia Real Estate
Phoenix Real Estate
San Diego Real Estate
Seattle Real Estate

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When the real estate economy stabilizes and homebuilders regain their stride in building homes, there will be a new twist in custom-built homes: an extra master bedroom. No kidding.

In a recent article in the NY Times, the National Association of Home Builders  expects 60 percent of custom homes will have dual master bedrooms by 2015. This is not a new phenomenon. A few years ago the National Sleep Foundation revealed in a survey that nearly one in four American couples sleep in separate bedrooms or beds.

Why the separation? Habits such as watching TV as your significant other tries to sleep, or snoring and late-night addictions to our computers and smartphones have sent everyone running for their own space. Not to mention accommodating children and pets.

Would you add an extra master to your home if you had the choice?

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Confirming the location of the upcoming wedding between former First Daughter, Chelsea Clinton, to investment banker Marc Mezvinsky has become a favorite summer sport among among wedding watchers.

The locale cited for the upcoming nuptials is Astor Courts in Rhinebeck, NY, but others say Martha’s Vineyard on Cape Cod is a possibility. Even the date was under dispute with July 31 being a “possibility” instead of a reality. Even the guests claim they don’t know where they’re headed, but it will be a black-tie affair.

Either way, the “Surge Desk” at AOL News offers a nifty summary of the Astor Courts and reports it is privately owned by online media producer Kathleen Hammer and real estate developer Arthur Seelbinder, who paid $3.2 million in 2005, and then invested millions more to restore it. It is presently listed for sale for $12 million.

Astor Courts is also known as the Ferncliff Casino, which was built between 1902 and 1904 for John Jacob Astor IV and his wife, Ava. It is a Beaux Arts design by American architect Stanford White who also designed the famed Washington Square Arch in New York City. Astor and White would meet their separate, tragic fates later in life; Astor died in the sinking of the Titanic and White was murdered at point-blank range by a jealous husband.

Read more about the history of Astor Courts.

> See more Rhinebeck, NY homes for sale

> See Rhinebeck, NY home values

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Got another educational opportunity to pass along to you!  Traditionally, Inman has held two real estate events each year, a winter one in NYC and a summer/fall event in San Francisco.  The events tend to put an emphasis on technology, which is why I enjoy them so much.

This year, Inman is trying something new, and has built out a program called Agent ReBoot.  The show is going  on the road and will be in 11 more cities nationally.  The content revolves around helping agents effectively use technology in their marketing efforts.  Here are a few topics that will be covered:

• Social media – Converting fans into paying clients
• Marketing yourself & your listings online – Smarter & faster
• Turn your website into a lead machine
• Making more money now – Killer business-planning strategies
• The mobile real estate agent – Must-haves for the mobile agent
• Local market analysis by leading experts… and so much more!

Depending on the city, Agent Reboot is hosted by two very popular social media advocates in the real estate industry – Nicole Nicolay (@nik_nik) and Daniel Rothamel (@RealEstateZebra) – so they definitely know what they are talking about!

Here is the schedule for the rest of the year.  Hope one works for you!

Zillow is a National Platinum Sponsor of this tour.

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Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.38 percent, up from 4.37 percent at this same time last week.

The 30-year fixed mortgage rate hit 4.35 percent late last week then peaked at 4.42 percent on Saturday.

Additionally, the 15-year fixed mortgage rate on Tuesday morning was 3.87 percent and for 5/1 ARMs, the rate was 3.37 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.

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It’s marketed as the “deal of the year” and it sure seems like quite a steal: The Newlyweds: Nick and Jessica home recently took a huge price drop — a 44 percent price drop — and went from a listing price of $3,495,000 last August to $1,950,000 when it was re-listed this past May.

This is the home where Nick Lachey and Jessica Simpson were filmed during the “Newlyweds” reality series. According to Zillow’s price history chart, Nick Lachey bought the home in June 2002 for $1,685,000 and after Nick and Jessica split, they sold it in February 2006 for $3.4 million. According to LA Blockshopper, it was sold to “Malcolm in the Middle” star Justin Tyler Berfield (photo, left) through his trusts: Sticky Toffee and Catamaran.

The home has 6,400 sq ft of living space and 5 bedrooms and 6.5 baths. And, if you’re feeling a bit insecure, it has a double set of gates: the entry into Calabasas Park Estates is guard-gated and the home has its own set of gates.  The soaring ceilings give this contemporary style home a light and airy feel. Amenities include a restaurant-style wine cellar, Travertine floors, media room, recording studio, and game room. The chef’s kitchen has a huge center island, granite counters, stainless steel appliances and walk-in pantry. The master bedroom suite includes separate retreat, fireplace, huge balcony with view and two walk-in closets. Private backyard includes a pool/spa, and hotel-style lounging areas, plus covered and draped alfresco outdoor dining. See more photos of the Newlywed house.

Pretty sweet!

> See more Calabasas homes for sale

> See Calabasas home values

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