Newlyweds Khloe Kardashian and Lamar Odom are allegedly moving into the upscale gated community of Mulholland Estates in Tarzana, CA, says US Weekly magazine. The property they are rumored to have purchased is listed at $4,995,000, I mean $3,995,000 (after a $1 million price reduction).

The couple, recently married in September, is not pregnant, but hopes to start a family soon. Accommodating a few kiddos shouldn’t be a problem, considering that their new 8,000+ sq ft home has 7 bedrooms, swimming pool, home gym, theater room, and parking for 15 cars.

Home values in Tarzana are down $15.5% year-over-year to a Zillow Home Value Index (median home value) of $626,100. Way to go, Khloe and Lamar, for taking advantage of bargains in a down market.

Looking to move in next to the famous couple? See more Tarzana, CA homes for sale on Zillow.

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See additional photos.

The San Francisco International Airport (SFO) is approximately 4 miles northeast of Hillsborough, CA, and the home of Stanley Hilton, but that is 4 miles too close. That is because Mr. Hilton claims in his lawsuit (PDF) that the proximity of SFO and its “round the clock jet aircraft in and out of SFO” has caused “severe emotional and physical injuries” including the loss of his marriage, family and career.

According to Wired, Hilton is suing SFO and a bunch of others:

• SFO Airport Authority, City of San Francisco, San Mateo County, City of Hillsborough
• United Airlines; American Airlines; Virgin; Mexicana; Atlantic; Lufthansa; German Airlines; Air France; Federal Express; DHL; UPS; KLM Airlines; Northwest; Alaska Airlines; British Airways; Flying Tiger Lines; Japan Airlines; Korean Airlines; China Airlines; Singapore Airlines; Air Canada; Southwest; and Hawaiian
• The previous owners of the home in question located at 670 Darrell Rd. Hillsborough, CA
• Cashin Real Estate Company and Coldwell Banker
• Two real estate agents
• Jet engine makers Rolls Royce Company and General Electric
• Jet manufactures Boeing, Airbus and McDonnell Douglas
• And, an unknown inspector

Additionally, he demands that the previous owners take back his home that he bought in March of 2003 for $1.475 million and refund him his money including any interest, fees and property taxes. He accuses them of fraud and says he did not realize this ‘breach of contract’ until Dec. 22, 2007– 82 years after the 20th busiest airport in the world was built, more than 4 years after he bought the property and 6 weeks prior to his divorce on Feb. 1, 2008.

This is not Hilton’s first foray with legal challenges. According to Wired, in August the Duke Law alumnus was barred by the California bar citing moral turpitude. Could it be because of his $7 billion class-action lawsuit (he claims he represented 400 plaintiffs, but only two were listed) against former President Bush and his cabinet claiming they ‘let’ 9/11 happen on purpose? Who knows.

Mortgage rates for 30-year fixed mortgages fell this week, with the weekly average rate borrowers were quoted on Zillow Mortgage Marketplace at 4.69%, down from 4.75% the week prior. This is the lowest weekly average rate on record since Zillow Mortgage Marketplace launched in April 2008. Additionally, 15-year fixed borrowers were quoted on average, 4.23% and for 5/1 ARMs, 3.69%.

This morning, the national rate for 30-year fixed purchase mortgages was 4.59%.

What are the rates right now? Will they fall further? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates.

If you’ve owned an old house, then banging, pulsating pipes go with the territory. Here’s a Zillow Advice question from corguy who asks:

When i turn the water on to the tub it pulses non-stop how can i make it stop?

Some great answers from sunnyview and DanaEv.

Have a home improvement problem? Ask the pros and community in Zillow Advice.

Rob Lowe, currently of “Brothers & Sisters” fame, has sold his Santa Barbara, CA home, according to Big Time Listings.

The home was built in the late 1920s and has 6 bedrooms and 5.5 baths. According to Big Time, the home has undergone extensive renovations and improvements under Lowe’s ownership. Public records show Lowe purchased the house in 2005 for $6 million.

You may know Lowe from “The West Wing” or “Dr. Vegas,” but it was his role as “Sodapop” in the “The Outsiders” movie that helped push Lowe to the forefront.

Find more photos here.

The 167th edition of the Carnival of Real Estate is now live over at Hawii Life Real Estate Services. This week, the top 5 posts (including Amy Bohuntinsky’s post about homeowner confidence) from last week are highlighted - head over and take a look!

The next edition will be hosted at River Banks to Cornfields on Monday December 7th. If you want to be considered for next week please submit your best post by Sunday, December 6 (you can submit via Twitter as well by tweeting a link and tagging it with the hashtag #carnivalofre). Are you a real estate blogger and would you like to host a future edition or take a more active role in administration of the CoRE? If so, get instructions on how to do so here. Please check the complete FAQ list if you have other questions as to how to participate.

Sure, Thanksgiving is about giving thanks, and we celebrate by gathering with family and friends for a big feast. My family is filled with wonderful cooks, but if given the chance, I might skip one Thanksgiving at my aunt’s home if I was invited to Thanksgiving dinner at one these famous chef’s homes:

Martha Stewart

Thanksgiving with Martha Stewart would be filled with ornate harvest-inspired decorations (handmade, of course), a stroll around her fall gardens, and “I am thankful for___” gratitude cards. And, if conversation dried up, I would just ask her about the 10 ways to prepare a turkey.

>See Martha Stewart’s Turkey Hill home (below)
>See Westport, CT homes for sale

Paula Deen

If Southern cooking is more your style (that is, if butter is more your style) Paula Deen’s place would be the perfect home to spend Thanksgiving. I think I might skip dinner altogether and just eat pie - maybe all seven of them.

> See Paula Deen’s Savannah home (below)
> See Savannah, GA homes for sale

Barefoot Contessa

For a multiple-course meal with fresh herbs and perfectly ripened fruits and vegetables, Barefoot Contessa host Ina Garten would provide just that. Garten is a fan of simple, quick-to-cook French food, so you get all the deliciousness with less of a wait.

> See Barefoot Contessa’s home (below)
> See East Hampton, NY homes for sale

Rachael Ray

I’m sure Thanksgiving dinner would be “yum-o” at Rachael Ray’s house, but I think I might want to stick around for a few days to find out what she makes with the leftovers. Her recipes range from ground turkey and stuffing meatballs to turkey meatloaf with smashed sweet potatoes. I love a good feast that lasts for days.

> See Rachael Ray’s Southampton home (below)
> See Southampton, NY homes for sale

Lastly, if the true queen of cooking were still alive, a Thanksgiving dinner at Julia Child’s Cambridge home would be simply divine. Not only did Julia Child bring cooking into our homes via television, but her eccentric, never-care style gave joy to cooking.

> See Cambridge, MA homes for sale

Zillow’s COO Spencer Rascoff weighed in on the state of housing on the Fox Business show ”Countdown to the Closing Bell” this afternoon.

Watch Spencer discuss how the tidal wave of foreclosure inventory coming in 2010, negative equity, and vacancy rates continue to dampen the housing sector.

Thanks to all who stopped by our booth and helped make the NAR convention so successful for us; we appreciated getting to speak to so many agents who are using the site regularly to help grow their business. Below are a few words from agents and brokers we spoke with at the show!

While at NAR, Spencer Rascoff, our COO, delivered a fantastic presentation about the Internet Buyer. He posted his powerpoint and video of the presentaiton on his blog.

In looking at our blog posts from October, the top 5 most-viewed celebrity home blog posts on Zillow ranged from a multi-millionaire’s mansion to Whitney Houston’s circular pad.

1. “Ira Rennert’s mansion is largest home in U.S.”
See Ira Rennert’s home (photo below)
See more Sagaponack, NY real estate.

2. “Haunted Houses in Hollywood”
See the Pickfair estate (photo below)
See more Famous Scary Homes

3. “Michael Jackson’s “Wonderland” Compound”
See the Las Vegas home Michael Jackson almost bought (photo below)
See more Las Vegas, NV real estate

4. “Whitney Houston Home For Sale”
See Whitney Houston’s home (photo below)
See more Mendham Township, NJ real estate

5. “New Jersey Real Housewife Danielle Staub Lists Home for $1.45 Million”
See Danielle Staub’s home (photo below)
See more Wayne, NJ real estate