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Record High
This rising cost catches buyers by surprise
#104
WELCOME
What does $40M get you in Honolulu? An incredible penthouse suite with a move-in date of… 2030.
The most expensive condo in all of Hawaii may not be finished yet, but it’s under contract for full asking price—with backup offers. The ultra-luxe penthouse features eight bedrooms, 11-foot ceilings, unmatched ocean views, and a built-in wet bar. It represents just a fraction of the over $12B in sales already closed between the two newest condo towers in the city.
While the real estate market in the rest of the US may be moving slowly, Honolulu proves luxury buyers will move fast for the right spot—and the best view on the island.
It wasn’t until Ricky Carruth hit his first million-dollar year that he realized—there’s so much more to building a satisfying career than chasing an earnings goal. That’s when he leaned into passive income streams, helping fellow agents meet their goals, and finding the next challenge. Tap to listen to Ricky’s full story, including recovering from complete bankruptcy to become the #1 agent eight years in a row.
TRACK THE MARKET: Property Insurance Costs Hit New Record High
Buyers today are prepared for higher interest rates—but few are prepared for just how much property insurance is adding to their monthly cost. According to the latest Mortgage Monitor report, property insurance is now the fastest-growing line item in buyers’ monthly mortgage payment. That’s especially problematic because it’s one of the least visible costs during the home-shopping process. Buyers may get preapproved based on mortgage rates and taxes—but insurance premiums can push them out of range, stall deals, or even tank affordability ratios altogether.
By the numbers:
Property insurance costs for mortgaged single-family homes rose 11.3% year-over-year, a larger increase than taxes and mortgage payments.
The average annual insurance cost is now about $2,370, the highest on record.
Premiums surged most in California, South Carolina, and Texas, driven by wildfires, hurricanes, and flood risk.
While agents may not be able to predict exactly what insurance will add to their buyer’s monthly cost, helping clients realistically estimate and plan for this growing expense can make or break the deal—and protects your clients from taking on more than they can comfortably afford.
DIVE IN
The Friday Five
📖 Patterns please. Why white boucle is out and all-out-patterns are in.
👀 Short sale. Chad Carroll’s first sale was $90K, but it set the stage for a $1M year.
👀 Kendall’s compound. See inside Kendall Jenner’s new equestrian estate.
💡 Interested investors. Where real estate investors are snapping up the most single-family homes.
💡 Pre-war apartments. Why these original buildings are equal parts charm and inconvenience.
WHAT’S NEW FROM ESTATE MEDIA
Josh and Tracy spill the tea—and the martinis
In Part 3 of Josh Flagg and Tracy Tutor’s new YouTube show, Mansions & Martinis, they answer real viewer questions about the wildest listings they’ve ever landed, their most unhinged showings, and all the stories they couldn’t share on live TV. Three martinis in and the stories are crazier than ever. Tap to watch now.
FEATURED LUXURY LISTING
TIPS & TAKEAWAYS
Why the waiting game is a risky gamble
This time of year, it seems like every buyer thinks waiting out the market just a few more months will land them a better deal. But the reality is, prices are slowly-but-surely inching up—and a major market crash just isn’t worth banking on.
Read how Glennda Baker advises clients who think their big opportunity is the mythical ‘bubble burst’—and the story of her client who watched his dream home sell for $125K over what he could have bought it for—in the latest edition of Her Real Estate.
HANGS & HAPPENINGS
CREtech New York | New York City, NY | October 21 - 22
Over two action-packed days, you’ll connect with top C-suite executives, industry leaders, and dealmakers from the world’s largest real estate firms, all shaping the future of the built environment. As the Flagship Event of NYC Real Estate Tech Week, this is your opportunity to make meaningful connections and walk away with tangible business outcomes.
NAR NXT 2025 | Houston, TX | November 14 - 16
Gain laser-focused business intelligence and insights on AI, interest rates and inventory. Access strategic insights, tactical tools, and innovative solutions to highlight your mission-critical role for today’s ever-changing market.
Inman Connect | New York City, NY | February 3 - 5, 2026
The biggest names in real estate share their secrets to success with our attendees in curated sessions that will equip you with the skills to level up.
Before we go…
ESTATE RECOMMENDED RESOURCES
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