Keyword: realestate

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  • U.S. political fundraiser gets 12 years for bank fraud

    07/16/2010 12:43:12 PM PDT · by nuconvert · 7 replies
    Hassan Nemazee, an Iranian-American businessman who raised money for the political campaigns of Barack Obama and Hillary Clinton, was sentenced to 12 years in prison for defrauding Bank of America Corp, Citigroup Inc and HSBC Holdings Plc out of $292 million. U.S. District Judge Sidney Stein imposed the sentence on Thursday following Nemazee's March 18 guilty plea in Manhattan federal court to charges of bank fraud and wire fraud over loan transactions with the three major banks. Nemazee said he needed the money to pay debts arising from his dealings in hedge funds and properties.
  • Tempted by Detroit's $500 properties? 5 things to know

    03/11/2015 2:15:49 PM PDT · by barmag25 · 24 replies
    AP/via Seattle PI ^ | 3/11/15 | Beth Harpez
    DETROIT (AP) — Sixty-two thousand properties have faced foreclosure in Detroit this year over unpaid taxes. About half will likely be auctioned for $500 apiece this fall. Buying homes or vacant lots for $500 might sound inviting, even in a city as troubled as Detroit. After all, look at New York: Decades of crime and decay gave way to a real estate boom that has gentrified even outlying working-class neighborhoods. Properties that sold for thousands in the bad old days are now worth millions. But there are no guarantees. "The opportunities are there but there are huge challenges," said Dang...
  • Greta Van Susteren Cuts the Price on Her Maryland Home

    03/03/2015 6:28:26 PM PST · by SamAdams76 · 40 replies
    The Wall Street Journal ^ | February 26, 2015 | STEFANOS CHEN
    Fox News host Greta Van Susteren and her husband, John Coale, have reduced the asking price on their 18th-century Annapolis, Md., home to $1.825 million, down from $2.1 million last April. The couple bought the 3,684-square-foot home for about $1.8 million in 2010, according to public records and Mr. Coale. Located downtown near the waterfront, the home has five bedrooms, three full bathrooms and two half-baths. Its price was reduced in December.
  • All Bubbles Burst: China's Real Estate Market Crashing, Eurogroup Prepare For Grexit & Default...

    02/18/2015 10:23:39 AM PST · by alexmark1917 · 6 replies
    China's Real Estate Market Crashing... Real Estate is the single biggest domestic lending segment in China. Combined with deflation in Iron Ore, Steel, Copper, and other industrial metals China's collateral quality is looking very very shaky compared to loan volume... SNIP While the world's attention is glued to events in Greece, the real action continues to evolve quietly thousands of kilometers east, in China, where the near record surge in new loans remains unable to offset the dramatic slowdown in shadow banking issuance. And while China's bubble-chasing, animal spirits have recently reoriented themselves from real estate to the stock market,...
  • The FAA lets companies stake a claim to landing spots on the moon

    02/04/2015 8:49:24 AM PST · by Jack Hydrazine · 26 replies
    Endgadget ^ | 4FEB2015 | Mat Smith
    It's very early days, but the US government is apparently looking to encourage commercial development of the moon, offering to assist investment by helping companies to claim territory through existing space launch licensing. According to Reuters, which has spied related documents, the Federal Aviation Administration state that it intends to "leverage the FAA's existing launch licensing authority to encourage private sector investments in space systems by ensuring that commercial activities can be conducted." The letter to Bigelow Aerospace could mean that the company's inflatable living spaces and other structures built or established on the moon could confer exclusive rights to...
  • Zimbabwe’s First Lady seeks to control more land

    01/22/2015 3:05:47 AM PST · by Olog-hai · 13 replies
    Associated Press ^ | Jan 22, 2015 3:09 AM EST | Farai Mutsaka
    In 2000, Timon Shava was a hero of Zimbabwe’s land reform program when he joined hundreds of other landless peasants in a wave of land seizures and evictions of white farmers. Today, he is homeless after police, acting on behalf of President Robert Mugabe’s wife Grace, destroyed dozens of thatch dwellings on a farm that she wants to control. The First Lady, who has another farm in the area, said last year that she wanted to turn this farm into a wildlife conservancy that could raise money for an orphanage. A new twist on the long struggle over land in...
  • Ritzy real estate broker gets prison for $5.5 million fraud

    01/20/2015 10:41:31 PM PST · by ConservativeStatement · 5 replies
    South Florida Sun-Sentinel ^ | January 20, 2015 | Paula McMahon
    Ritzy real estate broker Christopher White's former clients said they thought he was their friend and his smooth talk made them believe he was helping them buy their dream homes.. On Tuesday in federal court in Fort Lauderdale, White had nothing to say to his victims as he was sentenced to three years and five months in prison for ripping them off in a multimillion-dollar fraud.
  • Sen. Dianne Feinstein’s husband is about to make $1B off a government real estate deal

    01/17/2015 6:54:59 PM PST · by SeekAndFind · 22 replies
    Hotair ^ | 01/17/2015 | Jazz Shaw
    Hey, we started off the day with a happy story, so in the interest of keeping the tone positive here on the Hot Gas ranch, let’s finish my shift up with another one. I know all of you are fans of capitalism in general, and just love seeing hard work and inspiration pay off for the little guy who makes it big. With that in mind, who wouldn’t feel their heart melt over the story of a spunky gal from the left coast who rises from humble roots and winds up helping her husband tuck away a few dollars...
  • Senator’s husband stands to profit big from government deal

    01/17/2015 4:34:05 PM PST · by MeshugeMikey · 44 replies
    Page Six.com ^ | January 16, 2015 | RIchard Johnson
    Ever wonder how lowly paid lawmakers leave office filthy rich? Sen. Dianne Feinstein is showing how it’s done. The US Postal Service plans to sell 56 buildings — so it can lease space more expensively — and the real estate company of the California senator’s husband, Richard Blum, is set to pocket about $1 billion in commissions.
  • Mob squeezed him; city squeezes widow (Kass: Chicago outfit, Daley machine)

    07/05/2009 9:17:12 AM PDT · by STARWISE · 5 replies · 1,139+ views
    Chicago Tribune ^ | 7-4-09 | John Kass
    Whether the name of Richie Urso ever makes it into the corruption trial of former Gov. Rod Blagojevich next June is anybody's guess. You've probably never heard of Richie Urso. But the FBI sure has heard of him. His is a classic Chicago story, about a beefy yet charming guy born on Grand Avenue, who got in trouble with the law as a kid, only to make political friends and become extremely wealthy. He was arrested once for jewelry theft in the '60s by the Outfit's top Chicago police detective, William Hanhardt. Urso's alleged partner in the theft was the...
  • Politically connected ex-Mutual Bank president barred from banking ( Obama mentioned )

    07/01/2013 6:59:49 PM PDT · by george76 · 8 replies
    Crain's Chicago Business ^ | July 01, 2013 | Steve Daniels
    Amrish Mahajan, former president of failed Mutual Bank of Harvey and a major fundraiser for imprisoned former Gov. Rod Blagojevich, has been barred from future participation in the banking industry under a newly released regulatory order. Mr. Mahajan consented, without admitting or denying unsafe or unsound banking practices, to a May 1 order by the Federal Deposit Insurance Corp. prohibiting him from participating “in any manner” in the conduct of the affairs of any federally insured institution. ... Mr. Mahajan was known for his political connections, particularly to Mr. Blagojevich. Mutual Bank briefly entered the realm of national politics after...
  • City aims to jump-start Near South Side development

    07/11/2013 8:37:54 PM PDT · by Mortrey · 2 replies
    chicagotribune.com ^ | July 10, 2013 | Hal Dardick
    The city is trying to kick-start development of vacant 62-acre parcel near downtown controlled by a controversial Iraqi billionaire once linked to convicted Democratic influence peddler Antoin "Tony" Rezko.
  • Pelosi and the Treasure Island land grab

    08/18/2010 11:00:21 AM PDT · by jazusamo · 24 replies
    michellemalkin.com ^ | August 18, 2010 | Michelle Malkin
    Speaker Mop & Glo made headlines for her call to investigate opponents of the Ground Zero mosque, but there was something else about her remarks that should have raised your hackles: “There is no question there is a concerted effort to make this a political issue by some. And I join those who have called for looking into how is this opposition to the mosque being funded,” she said. “How is this being ginned up that here we are talking about Treasure Island, something we’ve been working on for decades, something of great interest to our community as we...
  • Chinese Investors Snap Up Property in Bankrupt Detroit

    11/22/2014 6:01:32 PM PST · by SeekAndFind · 100 replies
    NBC News ^ | 11/22/2014 | ERIC BACULINAO
    Bankrupt Detroit’s thousands of empty buildings are being flogged at rock-bottom prices — and Chinese investors are answering the siren call of unbeatable deals. With family homes regularly selling for around $10,000, the beleaguered Motor City is now the number-four destination for Chinese housing investors in the U.S. Bigger spenders have already snapped up some of Detroit’s most iconic commercial buildings. “There are factories, commercial real estate and upscale areas around Detroit with proximity to good schools that are worth investing in,” said Wang Ning, deputy manager in charge of international business at China online real estate agency SouFun. The...
  • Open the Floodgates – Chinese Inquiries on U.S. Real Estate Soar 35% After Easing of Visa Rules

    11/19/2014 12:31:23 PM PST · by SeekAndFind · 10 replies
    Liberty Blitzkrieg ^ | 11/19/2014 | Michael Krieger
    In a nation in which 1 out of every 3 homes is unaffordable, you’d think the primary goal of public policy wouldn’t be to ensure real estate becomes even more out of reach for the average citizen. However, we live in a country in which policy isn’t being driven by logic and what’s in the best interest of “the people,” rather, we live in an neo-feudalistic society in which policy is being driven by what is best for a handful of white-collar criminals. It’s bad enough that American financial oligarchs have leveraged free money polices of the Federal Reserve to...
  • Video: What happens when a reporter tries to out-squat a squatter in Detroit?

    11/07/2014 1:42:23 AM PST · by afraidfortherepublic · 19 replies
    Hot Air ^ | 11-7-14 | Mary Katherine Ham
    Here’s Detroit reporter Charlie LeDuff, a truly great writer and character, giving a Detroit squatter a taste of her (his? It’s somewhat in question.) own medicine. A homeowner had allegedly been attacked by the squatter while trying to sell the property, so LeDuff paid a visit: Detroit homeowner Sarah Hamilton wanted to sell her house, but was having some trouble. No, it wasn’t a down seller’s market — it was a squatter. Hamilton had a difficult battle: In the process of trying to get Lynn Williams out her house, WJBK-TV reported Hamilton was threatened with a knife. But things got...
  • More international homebuyers shopping in Austin (TX)

    11/02/2014 8:45:23 AM PST · by bgill · 16 replies
    kxan ^ | Nov. 1, 2014 | kxan
    A study from the Texas Association of Realtors shows international buyers pumped more than $11 billion dollars into the Texas economy between March of 2013 and 2014. One Austin Realtor says people from outside of the U.S. are looking for a secure investment. “An international client can come into the Austin market, get a great value for what they’re buying and almost be insured that there’s profitability in that and that’s unique to the world as a whole,” said J Kuper, owner of Kuper Sotheby’s International Realty.
  • Why Americans Can't Afford to Live in Liberal Cities

    10/29/2014 9:31:04 AM PDT · by Pan_Yan · 15 replies
    The Atlantic via Yahoo! Finance ^ | October 29, 2014 | Derek Thompson
    ... But there's a second reason why San Francisco's problem is emblematic of a national story. Liberal cities seem to have the worst affordability crises, according to Trulia chief economist Jed Kolko. In a recent article, Kolko divided the largest cities into 32 “red" metros where Romney got more votes than Obama in 2012 (e.g. Houston), 40 “light-blue” markets where Obama won by fewer than 20 points (e.g. Austin), and 28 “dark-blue” metros where Obama won by more than 20 points (e.g. LA, SF, NYC). Although all three housing groups faced similar declines in the recession and similar bounce-backs in...
  • New York Dominates 2014 List of America's Most Expensive ZIP Codes

    10/18/2014 8:42:06 PM PDT · by 2ndDivisionVet · 9 replies
    Forbes Magazine's Life Blog ^ | October 8, 2014 | Erin Carlyle
    In Atherton, Calif., 94027, the most expensive home currently on the market is a 12,840-square-foot Mediterranean mansion with a $21.988 million price tag. Not a millionaire? Good luck finding a place to live in this Silicon Valley enclave. The least expensive home for sale in the 94027 ZIP code is a 1,370-square-foot, two-bedroom, two-bath bungalow. In other words, a starter home–with an asking price of $1.499 million. The median price of the 24 homes listed for sale over the summer was $9.03 million, making Atherton the most expensive ZIP code in America for the second year in a row. “Atherton...
  • what's the deal with real estate "earnest money" in MN?

    10/17/2014 3:10:49 PM PDT · by TurboZamboni · 24 replies
    muhself ^ | 10-17-14 | TZ
    had some maroon claim he was buying a house and then he disappears. our realtor says we'll never get the earnest money because it's all just a theoretical thing everyone puts on paper but nobody ever gets because it usually costs more money persuing it than the amount of the money is. anyone know how to stop the Craigslist-type driveby morons from doing this ?
  • Attn Freeper Homeowners: Poll How long did it take you to find the perfect house?

    09/29/2014 8:39:21 PM PDT · by Califreak · 93 replies
    Frustrated Homeseeker ^ | September 30, 2014 | califreak
    Our family just started looking for a home to purchase. Just curious.... How long did it take you to find the perfect house? Our lender took two years. We are finding something wrong with all of them.
  • Norway now second-largest buyer of US commercial real estate

    09/24/2014 7:00:21 PM PDT · by SeekAndFind · 1 replies
    The Real Deal ^ | 09/24/2014
    Norway, surprisingly, now ranks second among foreign U.S. commercial real estate buyers, topped only by Canada. The sovereign fund that manages the country’s substantial oil wealth made a play for Blackstone Group’s 1095 Sixth Avenue just last week, in a deal that is expected to fetch up to $2.25 billion. The move followed the Norges Bank Investment Management’s purchase of a 45 percent interest in 601 Lexington for $1.5 billion. In total, the country has spent over $3.2 billion on U.S. real estate so far this year, according to data from research firm Real Capital Analytics cited by Bloomberg News....
  • Why Renters are Not Buying Into the “American Dream” of Homeownership

    09/14/2014 10:35:20 AM PDT · by 2ndDivisionVet · 101 replies
    The Bryan Ellis Investing Letter ^ | September 11, 2014 | Carole VanSickle Ellis
    We’ve all heard that millenials are the key to the housing recovery and that home prices are set to skyrocket just as soon as all the people renting or living in family homes (read: basements) get out, get married, get employed, and settle down in their new homes. However, for some reason, the estimates for when all this will happen just keep moving farther and farther out. In an effort to determine just what is delaying renters from becoming homeowners, the New York Federal Reserve conducted a Survey of Consumer Expectations to address the issue. The study found that while...
  • Mind-Blowing Alfred Fisher Mansion Sells For $1.6M [guess where]

    09/08/2014 2:37:43 PM PDT · by 1rudeboy · 92 replies
    Curbed ^ | September 4, 2014 | Sarah Cox
    The Alfred Fisher Mansion,the largest residential listing in Detroit, has sold for $1.6 Million in deal that closed in late August. Designed by architect Richard Marr and built in 1926, the mansion contains 15 bedrooms, 17 bathrooms, a ballroom, sun room, and a billiards room. There is also an indoor pool. These listing photos don't do the interior justice (there's a strange party situation in the basement) but the grounds are looking lovely. When the mansion first came on the market the ask was a mere $1.2M...."
  • News Analysis: Immigrant investor visa no longer wealthy Chinese's fast passage to America

    09/11/2014 6:12:58 AM PDT · by Oldeconomybuyer · 5 replies
    Xinhua News (China) ^ | September 10, 2014 | by Shen Qing
    A U.S. immigration program that grants visas to foreigners who invest in U.S. businesses and create local jobs, has for the first time in its 24-year history run out of quota due to the overwhelming demand by Chinese applicants and will thus no longer be China's newly rich's fast passage to America. The U.S. Department of State said the EB-5 program, which gives visas to those who invest at least 500,000 U.S. dollars and create at least 10 jobs in development projects, has hit its annual quota of 10,000 visas for the fiscal year, and will not receive new applicants...
  • First Entirely 3D Printed Estate is Coming to NY, Including a 2400 Sqft House, Pool & More

    08/23/2014 2:35:22 AM PDT · by 2ndDivisionVet · 25 replies
    3D Print.com blog ^ | August 20, 2014 | Eddie Krassenstein, CEO, AY.com, Web Developer, Domain Investor, Internet Marketer
    Building site of the first ever 3D printed estate in Gardiner, New York. New York City architect/contractor Adam Kushner begins construction of the first ever 3D printed estate, which features a 3D printed swimming pool, 4-bedroom, 2400 square foot home, and more. The 3D printer which will be a modified version of Enrico DiniÂ’s D-shape printer, will, if all goes as planned, eventually be able to automatically place rebar within the 3D printed house, as it prints. We have covered a lot of news concerning the 3D printing of houses, over the course of the last year or so. Whether...
  • Commentary: Behind Ferguson’s Unrest, Failed Federal Policy and the Black-White Housing Gap

    08/17/2014 6:47:21 PM PDT · by 2ndDivisionVet · 48 replies
    The International Examiner - the only nonprofit Asian American media in the country ^ | August 17, 2014 | Andre F. Shashaty, New America Media
    A local organizer in a town neighboring Ferguson, Mo., shows a typical “porch.”On the surface, the unrest in Ferguson, Mo., was about local police using deadly force on an unarmed young man. But on a deeper level, it reflected the increasing poverty and economic decline that affects ethnic communities all over America. Despite rosy reports in the media about the end of the national foreclosure crisis and the recession that followed, all is not well in our inner cities and suburbs with largely minority populations, like Ferguson. The foreclosure crisis was hard on many Americans, but it was a disaster...
  • The Rebuilding of I-45: A Once-in-a-Lifetime Opportunity to Improve Houston

    07/29/2014 10:14:21 AM PDT · by a fool in paradise · 24 replies
    Cite Magazine ^ | Jul. 28, 2014 5:35 PM | Torie Ludwin
    According to proposals on the table at the Texas Department of Transportation, the highway system around Downtown Houston may be subject to a significant transformation. This well may be a once-in-a-lifetime opportunity for the city to reconnect neighborhoods long bifurcated by highway IH-45 while also improving traffic capacity of the highways. How to change and improve the highway system is of great debate. As the Department of Transportation follows through on its federally required processes to propose and examine alternatives to the expansion of IH-45, also called the North Houston Highway Improvement Project, itÂ’s winnowing the options quickly. Now is...
  • Not Everyone in Silicon Valley Happy to See President Obama

    07/26/2014 3:53:14 PM PDT · by nickcarraway · 11 replies
    NBC Miami ^ | 7/24 | Bob Redell
    Dozens of protesters gathered outside the Silicon Valley home where President Obama was to attend a Democratic party fundraiserProtesters angered by the Federal Communications Commission’s proposal to put an end to net neutrality rallied near the Silicon Valley mansion where President Barack Obama was attending a fundraising event on Wednesday morning. Michelle Roberts reports. Thursday, Jul 24, 2014 • Updated at 9:05 AM PDT Protesters angered by the Federal Communications Commission’s proposal to put an end to net neutrality rallied near the Silicon Valley mansion where President Barack Obama was attending a fundraising event on Wednesday morning. A handful of...
  • US new-home sales plummet in June

    07/24/2014 8:09:04 AM PDT · by wbill · 29 replies
    Yahoo Finanace ^ | 7/24/2014 | AP
    WASHINGTON (AP) — Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy. New home sales fell 8.1 percent last month to a seasonally adjusted annual rate of 406,000, the Commerce Department said Thursday. The report also revised down the May sales rate to 442,000 from 504,000. (snip)
  • Man Finds Family Living In His Miami Home [After Vacation]

    07/24/2014 8:33:44 AM PDT · by Red Badger · 63 replies
    miami.cbslocal.com ^ | July 22, 2014 11:55 PM | Gaby Fleischman
    MIAMI (CBSMiami) — A South Florida renter came home to find people living inside his house but the family illegally squatting inside said they are not leaving. The owner of the property on SW 5th street and 49th Avenue said his friend William Ruiz has been renting the house for the past two years and recently started to move out while the house was listed for short sale. Ruiz went on vacation for two days and said when he came back, he found the locks on the house changed and strangers living inside using his belongings. “They’re using his bed,...
  • Man’s Dream of Fourth Wife Soiled by Pakistan Army Assaults

    07/21/2014 3:53:16 PM PDT · by nickcarraway · 12 replies
    Gulf News ^ | 18 July 17, 2014
    Pakistan’s ongoing military operation may be making headway in clearing militant hideouts, but it has shattered the dream of one father of 36 children — to take a fourth wife. Gulzar Khan is one of hundreds of thousands of people who have fled the North Waziristan tribal area since the army moved in to clear longstanding bases of Taliban and other militants. Escaping the military advance meant leaving the 35-room house he shares in the North Waziristan village of Shawa with around 100 family members, including wives, children and grandchildren. The 54-year-old grumbled that paying to transport his brood used...
  • The Need to Eliminate FIRPTA

    06/23/2014 10:14:26 AM PDT · by Parmenio · 3 replies
    GlobeSt..com ^ | June 4, 2014 | James Nelson
    In my last two blog posts, I have been critical of the government on New York City property taxes and the proposed reduction of the 1031 exchange. For a change, I wanted to voice my support for a potential tax revision regarding the Foreign Investment in Real Property Tax Act (FIRPTA). This tax would greatly boost foreign investment in US properties, and lead to job creation, stimulation of the economy and further increase property values. On March 29th, President Obama released major proposals to encourage private investment in US infrastructure as part of a proposed Rebuild America Partnership. For international...
  • Half of Americans can’t afford their house

    06/03/2014 1:00:57 PM PDT · by 2ndDivisionVet · 28 replies
    Market Watch ^ | June 3, 2014 | Quentin Fottrell
    As the housing market slowly recovers, a majority of homeowners and renters are finding it hard to meet rising rents and mortgage payments, new research finds. Over half of Americans (52%) have had to make at least one major sacrifice in order to cover their rent or mortgage over the last three years, according to the “How Housing Matters Survey,” which was commissioned by the nonprofit John D. and Catherine T. MacArthur Foundation and carried out by Hart Research Associates. These sacrifices include getting a second job, deferring saving for retirement, cutting back on health care, running up credit card...
  • One contractor wants to build an entire house with a cement 3D printer

    05/30/2014 12:00:19 AM PDT · by 2ndDivisionVet · 19 replies
    BGR ^ | May 28, 2014 | Chris Smith
    While houses of varying quality have been 3D-printed before, one contractor in Minnesota wants to build one such home by using a specially designed 3D printer that uses cement as a filament, without compromising on build quality or design, 3DPrint reports. Furthermore, the contractor’s aim isn’t to finish the house as fast as possible, but rather to 3D print it efficiently and securely. “A cheap house built in 24 hours is not my goal,” Andrey Rudenko said. “My current focus is building well-insulated small or medium-sized homes of a contemporary design, definitely onsite. As an experienced builder, I know that...
  • Economist: The Case-Shiller Home Price Report 'Makes No Sense'

    05/27/2014 10:23:27 AM PDT · by blam · 10 replies
    Mamta BadkarMay 27, 2014 We just got March S&P Case-Shiller home prices that beat expectations. The numbers showed home prices were cooling, but they nevertheless reflected increases on month-over-month and year-over-year bases. However, Ian Shepherdson chief economist at Pantheon Macroeconomics says "this report makes no sense." This is because "every indicator" of the house market he watches is slowing or falling. "We don't know if the March problem is Easter seasonal adjustments or the long-standing issue of fully adjusting for changes in the proportion of foreclosure sales in the sample, but we think the real trend in existing home prices...
  • Rent or Buy? The Math Is Changing

    05/27/2014 7:00:59 AM PDT · by SeekAndFind · 52 replies
    New York Times ^ | 05/27/2014 | Neil Irwin
    Billy Gasparino and Jenna Dillon-Gasparino were savvy enough to wait out the housing boom of a decade ago as renters. Not until 2010, well into the bust, did they buy a house in the Venice neighborhood of Los Angeles, less than a mile from the beach, for $810,000. Only four years later, the couple see new signs of excess in the housing market and have decided to go back to renting. They are close to a deal to sell their house – for $1.35 million, a cool 67 percent gain. “It just seems like the housing market came back so...
  • Dracula's Castle Up for Sale

    05/19/2014 7:51:16 PM PDT · by DogByte6RER · 37 replies
    Global Post ^ | May 13, 2014 | Jess Zimmerman
    Now you can own Dracula’s castle Transylvania's Bran Castle, long connected with Bram Stoker's indelible creation, is for sale. Count Dracula never lived in Bran Castle, in the Transylvania region of Romania, because he was a fictional character. But look, it’s a Gothic-looking castle in Transylvania — plus, Vlad the Impaler, the historical figure who inspired Bram Stoker’s indelible creation, was reportedly imprisoned here. So it’s no surprise that it’s commonly called “Dracula’s Castle,” and that (like Transylvania’s Hunyad Castle and Poenari Castle in Wallachia) it’s often linked with the vampire legend. And now, you can own it. If you...
  • Policing for Profit? Lawmakers, advocates raise alarm at growing gov’t power to seize property

    05/10/2014 5:26:21 PM PDT · by Innovative · 23 replies
    FoxNews ^ | May 9, 2014 | Barnini Chakraborty
    In civil forfeiture, authorities don’t have to prove guilt, file charges or obtain a conviction before seizing private property. Critics say it is a process ripe for abuse, and one which leaves citizens little means of fighting back. They said they wanted his Tewksbury, Mass., business – and the land it was on – because they suspected it was a hotbed for drug-dealing and prostitution. After a four-day trial, on Jan. 24, 2013, a federal judge in Boston dismissed the forfeiture action against the motel, ruling that the government engaged in “gross exaggeration” of the evidence and did not have...
  • New Home Sales Plunge - And It's Not the Weather

    04/24/2014 9:25:31 AM PDT · by SeekAndFind · 11 replies
    Townhall ^ | 04/24/2014 | Mike Shedlock
    The Census Bureau report New Residential Sales Report shows sales of new single-family houses in March 2014 were at a seasonally adjusted annual rate of 384,000. Sales are 14.5 percent below the revised February rate of 449,000 Sales are 13.3 percent below the March 2013 estimate of 443,000 Median sales price was $290,000 vs. $260,900 in February, $257,500 in March of 2013 Average sales price was $334,200 vs. $318,900 in February, $300,200 in March of 2013 Median sales price was up 11.5% from last month, 12.6% from year ago Average sales price was up 4.8% from last month, 11.3% from...
  • How a Chinese Company Built 10 Homes in 24 Hours

    04/16/2014 1:27:19 PM PDT · by nickcarraway · 8 replies
    Wall Street Journal ^ | Apr 15, 2014
    Chinese companies have been known to build major real-estate projects very quickly. Now, one company is taking it to a new extreme. Suzhou-based construction-materials firm Winsun New Materials says it has built 10 200-square-meter homes using a gigantic 3-D printer that it spent 20 million yuan ($3.2 million) and 12 years developing. Such 3-D printers have been around for several years and are commonly used to make models, prototypes, plane parts and even such small items as jewelry.
  • PHOTOS: This Groundbreaking 3D Printer Built 10 Homes in 24 Hours

    04/14/2014 9:05:17 PM PDT · by 2ndDivisionVet · 44 replies
    RYOT ^ | April 14, 2014 | Oliver Micheals
    From Oreos to body parts, 3D printers have been cranking out some pretty unbelievable stuff lately. But in Shanghai, WinSun Decoration Design Engineering Co. has been using a monstrous printing device to build homes at a breakneck pace — 10 homes in 24 hours. Measuring out at roughly 105 feet long, 33 feet wide, and 21 feet tall, this clearly isn’t your average retail printer. Unlike most 3D printers, this printing giant is fed with cement rather than plastic, making it especially well-suited for home construction. The best part is the houses are super cheap to make and they’re made...
  • The Chinese Are Buying Large Chunks Of Land Across America (And Zillow Is Now Enabling It)

    04/03/2014 2:50:03 PM PDT · by SeekAndFind · 42 replies
    Zero Hedge ^ | 04/03/2014 | Tyler Durden
    Has the United States ever experienced a time when a foreign nation has attempted to buy up so much of our land all at once? As Michael Snyder details below, it appears the Chinese are on a real estate buying spree all over America as they are now the dominat 'buyers' of investment green cards. This is occurring as private equity buyers and hedge funds exit the buy-to-rent business en masse and are, as Mike Krieger explains, are desperate to pitch American property to anyone willing to keep Housing Bubble 2.0 inflated... it seems Zillow is more than happy...
  • New York apartment prices hit record high

    04/02/2014 9:43:35 AM PDT · by SeekAndFind · 23 replies
    CNBC ^ | Tuesday, 1 Apr 2014 | 11:21 AM ET | Robert Frank
    The price of a Manhattan apartment just hit a new record. The average sales price for apartments in New York City jumped 15 percent in the first quarter to $1,773,523, according to a report from Douglas Elliman Real Estate and Miller Samuel. The average price per square foot jumped 16 percent to $1,363. The report shows the continued strength of the high-end real estate market—especially among global buyers in the world's top wealth centers. But it also shows that the building boom in trophy penthouses and ultraluxe condos may be overheating. Inventory jumped 19 percent in the quarter for all...
  • The Chinese Are Acquiring Large Chunks Of Land In Communities All Over America

    04/01/2014 11:34:06 PM PDT · by 2ndDivisionVet · 35 replies
    The American Dream ^ | March 31, 2014 | Michael Snyder
    Has the United States ever experienced a time when a foreign nation has attempted to buy up so much of our land all at once? As you will read about in this article, the Chinese are on a real estate buying spree all over America. In fact, in some cases large chunks of land are actually being given to them. Yes, you read that correctly. China is on the way to becoming the dominant land owner in the entire country, and that is starting to alarm a lot of people. Do we really want a foreign superpower to physically own...
  • Furious Chinese Demand Money Back As Housing Bubble Pops

    03/24/2014 7:34:39 AM PDT · by SeekAndFind · 4 replies
    Zero Hedge ^ | 03/24/2014 | Tyler Durden
    <p>Hell hath no fury like a woman scorned or, it seems, like a Chinese real estate speculator who is losing money. After four years of talking (and not doing much) about cooling the hot-money speculation that is the Chinese real-estate bubble (mirroring the US equity market bubble since stock-ownership is low in China), the WSJ reports that the people are restless as the PBOC actually takes actions - and prices are falling. With new project prices down over 20%, 'homeowners' exclaim "return our hard-earned money" and "this is very unfair" - who could have seen this coming?</p>
  • 91-Year-Old Woman in Lawrence Resists Developer

    03/23/2014 4:25:51 PM PDT · by nickcarraway · 29 replies
    The Kansas City Star ^ | March 19 | Donald Bradley
    From Indiana Street near the edge of the University of Kansas campus, you can barely see the top of Georgia Bell’s house. Georgia Bell bought her modest home near the University of Kansas campus in 1946 for $850. On Wednesday, she was formally offered $600,000 for it. A five-story residential and retail complex could soon spring up uncomfortably close by. The developer says she can stay, but things will be very different. It sits at the bottom of 26 old, steep and uneven concrete steps. Two city officials descended those steps recently to talk to Bell about selling her place...
  • Former HUD-OIG Special Agent In Charge Indicted on Mortgage Fraud Charges

    03/05/2014 7:16:00 PM PST · by DogByte6RER · 5 replies
    Mortgage Fraud Blog ^ | March 3, 2014 | Mortgage Fraud Blog (Rachel Dollar)
    Former HUD-OIG Special Agent In Charge Indicted on Mortgage Fraud Charges Herschell Harvell, Jr., 53, Conyers, Georgia, made his initial appearance in federal court on charges of making false statements to a bank to obtain a mortgage loan and conspiring to obstruct an investigation into his real estate transactions by the U.S. Department of Housing and Urban Development, Office of Inspector General (HUD-OIG). Until he was terminated in 2013, Harvell was the Special Agent in Charge of HUD-OIG’s Atlanta office, which encompasses several southeastern states. Harvell’s co-defendant and nephew, Tavus A. Wright, 32, Milledgeville, Georgia, also made his initial appearance...
  • Global super rich eye office blocks over mansions as wealth hits $20 trillion

    03/04/2014 11:27:04 PM PST · by 2ndDivisionVet · 7 replies
    LONDON - The world's super rich are turning from luxury mansions to hotels and office blocks, as they hunt for bigger property deals to preserve their growing fortunes which hit a combined $20 trillion (11.99 trillion pounds) in 2013, data showed on Wednesday. The move into commercial property comes as wealth levels rebound after the financial crisis and home values in London and Monaco soar, prompting the rich to look for riskier investments that offer higher returns than gold or bonds. Wealthy individuals spent $11.2 billion on hotels, offices, warehouses and shops globally in 2013, up from $7 billion in...
  • You Too Can Make Millions "Flipping" Houses (As Seen on TV)

    02/26/2014 8:05:59 AM PST · by SeekAndFind · 54 replies
    Townhall ^ | 02/26/2014 | Mike Shedlock
    I have been under constant barrage of unsolicited phone calls recently. The phone calls typically begin with the same lie: "Mr. Shedlock you told a colleague of mine a few months ago to call you back when we have a really good investment opportunity". Given that I never ask anyone to call back, they are known liars from the start. Depending on what kind of mood I am in, I may hang up immediately or listen long enough to hear what kind of nonsense they are peddling. I asked one of the liars the name of his colleague that called....