Latest news with #houseflipping
Yahoo
4 days ago
- Business
- Yahoo
Ellen DeGeneres and Portia de Rossi Are Selling Their U.K. Home for $30 Million, Less Than A Year After Leaving The U.S.
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. In 2024, former talk show host Ellen DeGeneres and wife Portia de Rossi purchased what was supposed to be a vacation home in England. However, plans quickly changed. "We got here the day before the election and woke up to lots of texts from our friends with crying emojis,'" DeGeneres told The Wall Street Journal, referring to the re-election of President Donald Trump. "And we're like, 'We're staying here'." That led the couple to sell their final property in the United States and take their house-flipping hobby across the pond. Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— $100k+ in investable assets? – no cost, no obligation. Known as Kitesbridge Farm, the property is located in The Cotswolds, a picturesque region with rolling hills and charming villages. The couple bought it for nearly $20 million and has now put it on the market for nearly $30 million. According to the Sotheby's International Realty listing held by Andrew Barnes and Marcus O'Brien, the home has been "reimagined over the past year," indicating that DeGeneres and de Rossi have continued their house-flipping fun. "The estate blends period character with sleek, modern design across 43 acres of rolling Cotswold countryside," it says. The main residence wraps around a courtyard and has various spaces for entertaining aside from the typical living room and kitchen. There's a total of six bedrooms, including a principal suite on the first floor that features two dressing rooms, a marble-clad ensuite bathroom and French doors that lead to a private garden. Upstairs, there are the other five bedrooms and a large sitting room. Trending: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — In addition to the main house, there's a guest cottage with two bedrooms, a converted granary building with a kitchenette, a party barn with a pub and a heated five-car garage, a suite with a heated indoor swimming pool with rustic beams overhead, a gym, showers and a changing room and a helicopter shed. But it's the outdoors that really won over DeGeneres and de Rossi. "When we decided to live here full time, we knew that Portia couldn't live without her horses," DeGeneres told the Journal. "We needed a home that had a horse facility and pastures for them." Kitesbridge Farm has formal lawns, a kitchen garden, sculpted paddocks and various living areas, making this home one for people who love being outside as much as they do inside. Read Next: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. With Point, you can Image: Shutterstock This article Ellen DeGeneres and Portia de Rossi Are Selling Their U.K. Home for $30 Million, Less Than A Year After Leaving The U.S. originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
7 days ago
- Entertainment
- The Independent
Ellen DeGeneres explains why she's selling her UK home after a year
Ellen DeGeneres and Portia de Rossi are selling their luxurious Cotswolds farm estate for $30 million, less than a year after moving from the US. The couple, known for house flipping, purchased the property for $20 million in spring 2024 and undertook extensive renovations, completing them in under five months. They are selling the estate, known as Kitesbridge Farm, to find a home better suited for their animals, particularly Portia de Rossi's horses. DeGeneres revealed that their move to the English countryside in November 2024 was prompted by the US election, specifically the re-election of Donald Trump. The 43-acre property, originally built in the 1700s, features seven bedrooms, seven bathrooms, a party barn, a fitness centre, and a two-bedroom guest house. Ellen DeGeneres puts $30 million UK farm up for sale days after confirming reason for fleeing US
Telegraph
7 days ago
- Entertainment
- Telegraph
Ellen DeGeneres to sell Cotswolds home... for £22.5m
There is a trend amongst Hollywood's ultra A-list set for flipping houses. In fact, half of the stars in that Oscars selfie from 2014 like to renovate them fast and sell them on when they're not winning acting awards: Meryl Streep focusses on properties in New York and California, while Brad Pitt has taken on multiple real estate development and restoration projects, including eco-focused homes in New Orleans and a château in France. And now Ellen DeGeneres herself – the person holding the phone in that infamous image – has added house flipper to the many hyphenates of her career, putting her Cotswolds retreat, Kitesbridge Farm, on the market for for £22.5m. It's only just over a year since she bought it for £15m with her wife Portia de Rossi, so yes, that's £7.5m more than she paid for it a mere 12 months earlier. Investments rarely come much better, assuming she gets the asking price, of course. When the couple bought the vast 43-acre Oxfordshire estate in June 2024, it seemed like they were embracing the good life. Freshly off her chat show, for which Ellen was reportedly paid $50m a year, a retirement in the quiet of the British countryside was not as unexpected as it seemed (at the time she still had her $5m property in California's Montecito, where the Duke and Duchess of Sussex live, so she wasn't cutting ties with her homeland all together). She had frequently said that she wanted to leave the US after the 2024 election result - a fact she reiterated at Cheltenham last week – and at the Los Angeles show of Ellen's Last Stand... Up Tour in April last year that she'd been kicked out of show business after multiple allegations came to light about how she'd been mean to the crew of The Ellen Show. A change of scene was clearly appealing. So what's more surprising is that after selling the Montecito home for $5.2m – seemingly to go all-in on life in the UK – and then investing in a restoration in the Cotswolds, she is selling it on after such a short period of time, reportedly having realised that the estate couldn't accommodate Portia's horses. Having been shipped over from the States, the horses now live in a purpose-built equestrian property down the road. So how does she justify the amount the home is on the market for, especially when she paid £2.5m over its original asking price? Well, the refurbishment was large scale, employing a team of 70 craftsmen to complete the work in just two and a half months, reinventing the 18th-century farmhouse into your classic Californian-style palazzo – think upscale shearling sofas, artfully rustic wood tables and vaulting ceilings painted white. It looks more like what the celebrity designer Brigette Romanek would do – and has done – for Gwyneth Paltrow in LA's Brentwood, than what Jeremy Clarkson has done at his famous farm in a neighbouring village. And for your £22.5m, you'll get a lot of space. There's the five‑bedroom main house, a two‑bedroom guest cottage, a 'party barn' with its own pub, a gym, a heated pool that has the most incredible views of the hills beyond the estate and a heated five‑car garage. The house is on the market with Sotheby's International Realty, and the marketing material neatly describes the property as 'discreetly set at the end of a long private driveway, beautifully reimagined over the past year to an exceptional standard. The estate blends period character with sleek, modern design across 43 acres of rolling Cotswold countryside. The main house unfolds around a central landscaped courtyard, a lovely focal point that brings light and flow to the interiors.' In case you were wondering what you might do with all that acreage, it helpfully has an answer for that. 'Designed for both grand-scale entertaining and relaxing, the layout combines sharp architectural detail with a contemporary eye for volume, proportion and finish.' It may have a high-end finish now, but the project wasn't without its complications. As the Grade II-listed farmhouse is located in a conservation area, some local planning concerns were raised, ranging from flood risks to archaeological significance. However, following an inspection, West Oxfordshire District Council has confirmed that all renovations were completed in line with heritage regulations, and no enforcement action was required. A council representative concluded that the extensions were 'sympathetic' and 'of high quality'. While this may have been Ellen and Portia's first major UK project, their approach was unmistakably familiar: buy a home with good bones, restore it beautifully, then sell it at a premium. In fact, the estate is now one of the most expensive listings in the Cotswolds – the average house price in the area is £446,247. While we're used to seeing properties in Ellen's homeland go for the sort of figures she's commanding – in fact, it's cheap compared to many of the Hollywood homes on the Netflix real estate-based show Selling Sunset – this could mark the start of a new trend in British home design. Take the best of the sun-drenched, low-slung, minimaluxe Californian aesthetic, transplant it to the green fields of the UK and charge a premium for the privilege. Whether it sells for asking price or not, one thing's clear: Ellen DeGeneres has brought a touch of the trademark American ambition to the English countryside.
Yahoo
16-07-2025
- Entertainment
- Yahoo
Tarek and Heather Rae El Moussa's Show 'The Flipping El Moussas' Is Cancelled Amid HGTV Purge: Source
NEED TO KNOW A source has confirmed to PEOPLE that Tarek and Heather Rae El Moussa's HGTV show, The Flipping El Moussas, has not been renewed The news comes amid a number of shocking cancellations from the network, including Christina Haack's home renovation show, Christina on the Coast Both Tarek and Heather have yet to publicly address the newsTarek and Heather Rae El Moussa's show The Flipping El Moussas is not returning to HGTV, a source confirms to PEOPLE. The house flipping show starring the married couple is officially ending after two seasons, amid a slew of shocking cancellations from HGTV. Christina Haack's HGTV show, Christina on the Coast, is also among the many shows that were slashed, a source confirmed to PEOPLE on July 15. Premiering in March 2023, The Flipping El Moussas followed Tarek and Heather as they navigated the highs and lows of house flipping in Southern California. In season one, viewers also got to see an inside look at their personal lives as they prepared for the arrival of their son Tristan, now 2. Season 2 saw the real estate duo tackle even tougher projects while also juggling life as a family of five. (Tarek shares two older children — daughter Taylor, 14, and son Brayden, 9 — with ex-wife Haack.) While both The Flipping El Moussas and Christina on the Coast have been canceled, a source tells PEOPLE that the trio's other hit show, The Flip Off, has been picked up for a second season but hasn't started filming yet. All three stars have yet to publicly address the news, however a number of HGTV hosts have spoken out about the network's recent programming purge. Bargain Block, Farmhouse Fixer, Married to Real Estate, Battle on the Beach and Izzy Does It have also been canceled, sparking outrage from fans. Before The Flipping El Moussas, Tarek starred in Flip or Flop from 2013 to 2022 alongside his then-wife Haack. The exes split in 2016 after seven years of marriage, and currently maintain an amicable co-parenting relationship. Tarek has also hosted a solo house flipping series, Flipping 101, which debuted its fourth season in April. It is currently unclear whether this project is being picked up for another season. Meanwhile, The Flipping El Moussas marked Heather's HGTV debut after she previously starred in Netflix's real estate docudrama, Selling Sunset. She officially left the series in season 8 after revealing she was 'not called back' to film in the middle of season 7 following her maternity leave. During an exclusive interview with PEOPLE in 2023, Heather opened up about being excited to leave Selling Sunset behind her and start a new chapter with The Flipping El Moussas. "I love being able to prioritize my family and my happiness and step away from some of the drama that Selling Sunset brought into my life," she said at the time. "But I can just film with my husband now, drama-free," she continued. "I mean, the drama's in the houses, it's not with the people. And that is so incredible that I don't have to worry about fighting with a girl if I go to work." Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories. Of working on The Flipping El Moussas, she admitted that while "It's a lot of work," she enjoyed tackling each challenging project with her husband. "I love flipping houses. It's very rewarding, it's very exciting, and I love being able to take a nasty, beat-up disgusting house and transform it into something beautiful." Read the original article on People
Times
07-07-2025
- Business
- Times
Property flipping hits lowest level in a decade after tax raid
The number of homes flipped by property investors is at its lowest level in 12 years as it becomes harder to make any kind of profit. Homes bought and sold within a year accounted for 2.3 per cent of all sales in the first three months of the year, the lowest proportion since 2013, according to the estate agency Hamptons. It found that that 7,301 properties were flipped between January and March in England and Wales, well below the ten-year average of 10,000 homes per quarter. The average gross profit made on these properties was £22,000, an increase of £6,000 on the same period last year but down from £38,000 in 2022. It comes after Rachel Reeves, the chancellor, raised the stamp duty surcharge on additional properties from to 3 per cent to 5 per cent in her budget in October. The property value threshold at which you start paying stamp duty was also lowered in April, meaning bigger bills for all homebuyers, when temporary reliefs introduced by Liz Truss in 2022 ended. Aneisha Beveridge from Hamptons, said: 'The 5 per cent surcharge for investors, coupled with the value at which buyers start paying stamp duty being reduced, means it's harder than ever to make the sums stack up.' 'The extra 5 per cent stamp duty surcharge for those buying additional properties comes on top of the rates that apply for main homes — these are 2 per cent on the value of a property between £125,001 and £250,000 and 5 per cent for the amount between £250,001 and £925,000. From £925,001 to £1.5 million the charge is 10 per cent, and above that it is 12 per cent. The 5 per cent surcharge does not apply on properties worth less than £40,000. The stamp duty surcharge on additional properties was introduced in April 2016 under the Conservative government. Before this, an investment property could be bought at the same stamp duty rate as one bought by an owner occupier, with an average of £1,900 paid per property in the first three months of 2015. The average was £6,375 in the first three months of this year. Hamptons calculated that on properties flipped in the first three months of the year, stamp duty had lost owners 21 per cent of the average gross profit. In April the property value threshold at which buyers start paying stamp duty fell from £250,000 to £125,000 — for first-time buyers it fell from £425,000 to £300,000. This has heaped further costs on property investors, with the average stamp duty bill for someone buying an additional property now £11,920. • UK house prices fall as stamp duty hits demand Beveridge said: 'If you take into account the new thresholds, stamp duty bills for property investors account for nearly a third of gross profits. And in some cases, these bills are now higher than the cost of renovating the property. 'This, together with rising material and labour costs and, in some places, falling house prices, makes flipping homes an increasingly tricky business.' According to Hamptons, 80 per cent of homes flipped between January and March were sold for more than they were bought for, but only 66 per cent made a profit once stamp duty was accounted for. This didn't include any spending on renovations. • Should landlords get more tax breaks? The northeast is the area with the highest proportion of homes being flipped, with about 4.7 per cent of all homes sold being those bought less than a year before. This was nearly double the average for England and Wales of 2.3 per cent, and three times the 1.5 per cent of flipped homes in London. The three local authorities with the highest proportion of flipped properties were all in the northeast. Redcar and Cleveland was highest with 7.6 per cent, then Co Durham with 6.6 per cent and Hartlepool with 6.5 per cent. Only one of the top 20 local authorities for flipped homes was in the south of England — Torridge in the Devon. Beveridge said: 'These rising upfront costs have pushed investors further north, where properties can still be bought without paying any stamp duty. It's also where more house price growth has been concentrated over the past few years.'
