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The bill, which had already been approved in the House, also includes a provision that could lead to a ban on TikTok in the U.S. if the popular platform's Chinese owner doesn't sell its stake within a year. The bill would give TikTok's owner nine months to arrange a sale, with the potential for an additional three-month grace period, according to a copy of the bill released earlier this month. Barring such a deal, the legislation would, in fact, ban the social media app in the U.S. Meanwhile, TikTok had asked its users to contact their lawmakers to argue against the bill's passage, an effort that failed to sway opinions in Washington, D.C., noted Eurasia Group director Clayton Allen.
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This sprawling ranch just became the most expensive home to sell in Colorado history - New York Post
This sprawling ranch just became the most expensive home to sell in Colorado history.
Posted: Mon, 15 Apr 2024 07:00:00 GMT [source]
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Why does Congress want to ban TikTok?
Earlier this month, The Wall Street Journal reported that casino tycoon Steve Wynn was in contract to buy a four-acre estate in Aspen from billionaire Thomas Peterffy, a pioneer in computerized stock trading, for over $100 million. The deal closed this week for a record-breaking $108 million, surpassing a $77 million Aspen home that sold just last week to become Colorado’s most expensive residential sale ever. Riley Warwick of the Saslove & Warwick team at Douglas Elliman represented both the buyer and the seller. TikTok has attracted unwanted scrutiny not only for the addictiveness of its constantly scrolling videos, but also due to its Chinese owner, ByteDance. That has raised concerns among lawmakers and security experts that the Chinese government could tap TikTok's trove of personal data about millions of U.S. users. TikTok users could soon find that the popular social media service is either under new ownership or, although it wouldn't happen immediately, outright banned in the U.S.
Popular Cities in Colorado
“Despite recent years introducing higher property taxes, higher mortgage rates, higher home prices, and higher maintenance costs, Denver’s compelling attractiveness and high quality of life wards off struggles in the broader real estate market,” Thayer said. Despite the national real estate market waiting for a change in federal interest rate policy, Denver’s market remains strong, which is a testament to Denver’s continuing desirability. “The monthly supply of homes for sale within Denver has climbed more than 15% since the beginning of the year to 2.2 months, but it doesn’t seem the market has shifted in favor of buyers quite yet,” said Denver-area realtor Cooper Thayer.
Sellers still have strong bargaining power in transactions, while buyers remain financially stable despite high prices and interest rates. The average percentage of the list price received by sellers increased last month to almost 100%, the highest level seen since last summer. Colorado’s spring housing season started quickly in March as the single-family listings statewide increased by nearly 18%. Only about two dozen homes have ever sold for $100 million in the United States, WSJ reports, with the bulk of them being in Manhattan, Miami, Palm Beach, and Los Angeles, including Malibu.
Sponsored: Colorado real estate stats: New listings, home sales, prices surge in February
"The idea that we would give the Communist Party this much of a propaganda tool, as well as the ability to scrape 170 million Americans' personal data, it is a national security risk," Senator Mark Warner, a Virginia Democrat, said on CBS' "Face the Nation," on Sunday. Lawmakers are increasingly concerned about the company's ties in China, with fears that ByteDance or TikTok could share data about U.S. users with China's authoritarian government. In March, the seven-county Denver metro area reported 4,411 new listings for single-family homes, an increase of more than 16% compared to February but a decline of 3.8% compared to last year. We have knowledgeable Lennar consultants who will be with you every step of the way, ensuring your smooth transition into homeownership.
Denver County
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The pending/under-contract listings for single-family homes in the Denver area rose by 35.5%, while the number of days on the market dropped from 52 to 44. "At the stage that the bill is signed, we will move to the courts for a legal challenge," Beckerman, head of public policy for the Americas at TikTok, wrote. "We'll continue to fight, as this legislation is a clear violation of the First Amendment rights" of TikTok users. The Senate late Tuesday passed a broad legislative package that delivers $95 billion in foreign aid to Ukraine, Israel and other U.S. allies.
For REALTORS®
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And now, with Wynn’s record-shattering purchase, Aspen has officially joined the big leagues. However, homes of this size are somewhat rare for the area, and the fact that Pitkin County has set a cap of 9,250 square feet on future homes no doubt added to the property’s appeal and hefty sales price. By providing your information, you agree to our Terms of Use and our Privacy Policy. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Get in touch with our team of real estate professionals to learn about the community and available homes. However, Ives thinks ByteDance would be unlikely to sell TikTok with its core algorithms, the vital software that provides video recommendations to users based on their interests and viewing habits.
Of course, you are welcome to work with an independent realtor but not all communities offer a broker co-op commission. Find a lender who can offer competitive mortgage rates and help you with pre-approval. Wedbush estimates that roughly 60% of TikTok users would shift to Meta's Instagram and Facebook if TikTok went dark in the U.S. But, Allen of Eurasia Group noted, that would put the nine-month mark in mid- to late January, which could also coincide with the U.S. presidential inauguration. If former President Donald Trump wins in November, he could very well take a different tack with TikTok, the analyst noted. The community invites families to embrace nature with multiple pocket parks, open space and a variety of future amenities, including a swimming pool, clubhouse and fitness center.
All in all, a good time to be a buyer in this spring market,” said Kelly Moye, a Boulder/Broomfield-area realtor. Well-priced homes in good condition are being quickly purchased, usually with multiple offers. Wynn, the art-collecting founder of Las Vegas’ Bellagio and Wynn resort casinos, is a well-known trophy home collector who maintains homes across the country. He has successfully bought and sold several homes in Palm Beach over the last four or five years but has had some trouble selling his homes in New York and Los Angeles.
