Keyword: realestate

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  • Why Renters are Not Buying Into the “American Dream” of Homeownership

    09/14/2014 10:35:20 AM PDT · by 2ndDivisionVet · 97 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....
  • Finally, Dallas-Fort Worth workers have reason to feel richer

    02/16/2014 5:51:36 PM PST · by 2ndDivisionVet · 11 replies
    The Dallas Morning News ^ | February 15, 2014 | Mitchell Schnurman
    (VIDEO-AT-LINK)It’s been so long that we should put this in 4-inch headlines: Pay raises are back. In Dallas-Fort Worth, wages and salaries rose 3.5 percent last year, the strongest showing since before the recession. The increase was almost three times higher than the previous year’s and much higher than the U.S. mark. Dallas easily ranked No. 1 among the nation’s 15 largest metros, according to the Bureau of Labor Statistics. Raises in D-FW were more than 1 percentage point higher than the high-flying Silicon Valley region. It’s risky to read too much into a single time period and data set,...
  • 7 great reasons why you should consider building your next house with Straw Bales

    01/17/2014 2:08:40 PM PST · by 2ndDivisionVet · 71 replies
    StrawBale blog ^ | January 1, 2014 | Andrew Morrison
    Why Build With Straw Bales? Straw bale construction lends itself well to an owner builder project. Some of the applications well suited for straw bale include: a cottage, office, garage, studio, and an art barn. You don’t have to limit yourself to these smaller projects. Thousands of people have successfully built their own straw bale house. As a world leader in straw bale education we want to help you every step of the way. I’ve created a great introductory video on why to build with straw bales. You can watch that by clicking the play button below. Please read on...
  • Oprah Winfrey lists her Chicago condo for $7.75M

    01/15/2014 7:05:07 AM PST · by ConservativeStatement · 16 replies
    UPI ^ | January 14, 2014
    CHICAGO, Jan. 14 (UPI) -- Media mogul Oprah Winfrey has listed her Chicago condo for $7.75 million, Redfin reported Tuesday. Chicago Real Estate Daily said Winfrey paid about $3 million in three transactions in the early 1990s to combine four adjacent units in the luxury building.
  • Chinese money rushing into U.S. residential real estate

    01/12/2014 12:01:29 PM PST · by SeekAndFind · 46 replies
    Al Jazeera America ^ | 12/18/2013 | by Duarte Geraldino
    New York) - The strong recovery of the housing market is attracting international buyers in record numbers reaching $82 billion in 2012. The National Association of Realtors (NAR) reports that after Canada, the People’s Republic of China (PRC) shows the strongest demand for U.S. residential property. The Manhattan skyline has long been a magnet for global real estate investors, but travel ten miles away from the island to Flushing, Queens and you'll find Sky View Parc. The development is one of a growing number of properties in New York City and around the country in which Chinese nationals are investing....
  • The 3D printer that can build a house in 24 hours

    01/08/2014 9:51:31 PM PST · by 2ndDivisionVet · 49 replies
    MSN's Innovation ^ | November 20, 2013 | Mark Hattersley
    The University of Southern California is testing a giant 3D printer that could be used to build a whole house in under 24 hours. Professor Behrokh Khoshnevis has designed the giant robot that replaces construction workers with a nozzle on a gantry, this squirts out concrete and can quickly build a home according to a computer pattern. It is “basically scaling up 3D printing to the scale of building,” says Khoshnevis. The technology, known as Contour Crafting, could revolutionise the construction industry. The affordable home? Contour Crafting could slash the cost of home-owning, making it possible for millions of displaced...
  • Woman Sues Home Developer For Failing To Disclose Racist Neighbor From Hell

    01/08/2014 5:09:05 PM PST · by nickcarraway · 72 replies
    Newsone ^ | Ruth Manuel-Logan | Jan 7, 2014
    Cyndee Phoenix (pictured) thought she had found the perfect home in a Hamilton County, N. J., residential community to live in with her elderly parents and sister. But what Phoenix did not know and now claims was not revealed to her by the developer, Lennar Homes Corp, who promoted promises of a “wonderful lifestyle,” was that she and her family would be tormented by a neighbor who would threaten, intimidate and make racist remarks. She is suing the developer for “knowingly concealing” that her future neighbor was a “dangerous individual,” according to Courthouse News. Phoenix closed on her home last...
  • Still Unconvinced, Home Buyer? Check Out the View From the Drone

    12/24/2013 1:21:42 AM PST · by 2ndDivisionVet · 9 replies
    The New York Times ^ | December 23, 2013 | Winnie Hu
    (VIDEO-AT-LINK)The Georgian-style estate comes with a five-bedroom house and four wood-burning fireplaces, a separate studio and a heated pool on two acres in Greenwich, Conn. But it has a $6.1 million price tag, and more than a dozen showings since October had yielded no buyer. It was time to bring in the drone. Controlled remotely by a hand-held console, it took off from the driveway with a loud mechanical whine and hovered around 20 feet in the air to record video of the house against a wintry landscape of snow-flecked trees. Its handler later launched it inside, where it whirred...
  • All-Cash Home Sales Hit Record 42% of Sales

    12/22/2013 10:28:58 AM PST · by Kaslin · 57 replies
    Townhall.com ^ | December 22, 2013 | Mike Shedlock
    Even though household formation by millennials is at a record low percentage, home sales are at modest levels thanks to investor all-cash buying. Market-Watch notes All-Cash Home Sales Reach New High. More Americans are buying homes in all-cash deals, according to a new report. But real-estate experts say this increase may not be a good sign for the health of the housing market, which may also be impacted by the Federal Reserve’s decision to pull back on its bond-buying program. All-cash purchases accounted for 42% of all sales of residential property in November 2013, up from 39% during the previous...
  • Home sales drop to lowest level in almost a year

    12/19/2013 7:52:36 AM PST · by John W · 27 replies
    Reuters via nbcnews.com ^ | December 19, 2013 | Reuters
    U.S. home resales fell sharply in November to their lowest level in nearly a year, hurt by a rise in interest rates since the spring and ongoing price increases that have shut some home buyers out of the market. The National Association of Realtors (NAR) said on Thursday that sales of previously owned homes dropped 4.3 percent last month, the third monthly fall in a row, to an annual rate of 4.90 million units. That was the lowest annual rate since December 2012, and well below the median forecast in a Reuters poll of a 5.03 million unit pace. "It...
  • OHIO MAN USING A SCHEME TO SNATCH UP ‘ABANDONED’ HOUSES THAT’S SO ABSURD IT’S SCARY

    11/27/2013 3:04:24 PM PST · by lowbridge · 29 replies
    theblaze.com ^ | november 27, 2013 | becket adams
    A Springdale, Ohio, family was shocked when they returned from a visit to a dying relative to find that a stranger had moved into their house and changed the locks – and even more shocked to learn that the intruder may have the law on his side. The family, who asked to remain anonymous, is moving to Pittsburgh and a local bank is foreclosing on their home of 21 years in Ohio. However, the bank had nothing to do with emptying the Ohio house and changing the locks – the new “owner” did that. The situation has escalated into an...
  • 10,000-year-old house uncovered outside Jerusalem

    11/25/2013 9:42:46 AM PST · by Red Badger · 101 replies
    http://www.timesofisrael.com ^ | November 25, 2013, 4:24 pm | By Haviv Rettig Gur
    With range of dramatic finds in excavations ahead of highway expansion, archaeologists trace 10 millennia of human development A remarkable archaeological find in the Judean lowlands southwest of Jerusalem includes a six-millennia-old cultic temple and a 10,000-year-old house. The ancient sites were located in routine archaeological digs conducted ahead of a planned expansion of Route 38, the main access road to Beit Shemesh. The building is the oldest ever found in the area, and constitutes remarkable “evidence of man’s transition to permanent dwellings,” researchers said Monday. Labeling it “a fascinating glimpse into thousands of years of human development,” the Israel...
  • DETROIT: Former businessman sentenced for brokering sham marriages

    10/30/2013 2:39:28 AM PDT · by Cindy · 9 replies
    PRESS AND GUIDE.com ^ | October 25, 2013 | by Joe Slezak
    SNIPPET: "Hussein “Sam” Nazzal, 59, was sentenced to 33 months by U.S. District Judge Marianne Battani on Friday. Nazzal formerly owned Shish Village restaurant and G&S Development, a real estate company, both of which were in Dearborn. He pleaded guilty in July to conspiracy to defraud the United States. Federal officials also got two criminal convictions of those involved in the fraud, and two others have been deported from the United States to Lebanon."
  • Quick Question re Releasing SS#s / Real Estate Transactions (Vanity)

    10/28/2013 12:19:03 PM PDT · by NH Liberty · 11 replies
    Monday, October 28, 2013 | NHLiberty
    Can anybody cite the law that exempts people (Sellers) from divulging their SS#s during real estate transactions? I know this can be done (at least in NH) because I was at a closing 8.5 years ago, where the Seller was refusing to release his. The in-house lawyer was then called upon and, when he came out, he and the Seller had a bit of a back-and-forth about it in front of everyone. The Seller then told the lawyer that he could prove it to him if he'd just come with him outside the room (presumably out to a telephone?). When...
  • Twenty-two Billionaires Already Purchase Units at Porsche Design Towers

    10/18/2013 6:17:38 PM PDT · by FlJoePa · 51 replies
    I Adore Miami ^ | 10-16-13 | n/a
    October 16, 2013 A ground-breaking, new high-luxury residential tower, emblematic of contemporary and revolutionary architectural design, is showing signs of being the most anticipated project in the history of Miami Luxury Real Estate. The Porsche Design Towers, slated for erection sometime in 2016 on 2.2 acres of beachfront property along Collins Ave in Sunny Isles, will be one of the world’s first residential condominiums to have large glass elevators that transport residents-while still inside their cars- to their apartments. As residents arrive at the building and switch off their engines, an automatic platform will extend, scooping up the car and...
  • Skyrocketing Flood Insurance Rates Bring Financial Chaos

    09/30/2013 12:13:09 PM PDT · by SatinDoll · 24 replies
    The Weather Channel ^ | Sept. 28, 2013 | Terrell Johnson
    When Superstorm Sandy slammed into New York and New Jersey last fall, it sent massive floods through the streets of coastal towns and cities across the Northeast, turning areas like Toms River, N.J., into something like a war zone. But nearly a year later, residents there and in many other coastal communities across the U.S. face a potentially far more devastating menace: a nationwide revamp of flood insurance rates, forcing premiums that were once around $500 per year into the $5,000-, $10,000- and even $20,000-a-year range and higher. "The adverse effect of [this] would be more devastating than Hurricane Katrina,"...
  • Nearly half of homes are purchased in cash

    08/29/2013 6:48:49 AM PDT · by KeyLargo · 57 replies
    Market Watch ^ | Aug 29, 2013 | By Quentin Fottrell
    <p>More Americans are buying homes in all-cash deals, according to several recent studies. But real- estate experts say this increase may not be a good sign for the health of the housing market.</p> <p>All-cash purchases accounted for 40% of all sales of residential property in July 2013, up from 35% during the previous month and 31% in July 2012, according to data from real-estate data firm RealtyTrac released Thursday. That’s the second highest rate since the survey began in January 2011 – second only to 53% in March 2012.</p>
  • Pending Home Sales Index Falls in July

    08/28/2013 7:21:24 AM PDT · by John W · 6 replies
    The Wall Street Journal ^ | August 28, 2013 | Jonathan House
    WASHINGTON—The number of Americans signing contracts to buy previously owned homes fell in July for the second consecutive month, the latest sign that higher mortgage rates are starting to drag down the housing recovery. The National Association of Realtors said Wednesday that its seasonally adjusted index for pending sales of existing homes fell to 109.5 in July, 1.3% lower than the June reading and a slightly steeper decline than the 1% drop forecast by economists. The July index was 6.7% higher than its level a year earlier. Because of the way pending home sales are tallied—at the signing of a...
  • Posted August 16, 2013 Increase in Luxury Listings Fueled by Low Interest Rates

    08/18/2013 4:22:37 AM PDT · by William Tell 2 · 1 replies
    mainstreet.com ^ | 8-16-13 | Juliette Fairley
    NEW YORK (MainStreet) — The housing market is on the rise again after...
  • So a President Wearing Clown Mask Goes to a Rodeo…

    08/17/2013 1:11:41 PM PDT · by Kaslin · 29 replies
    Townhall.com ^ | August 17, 2013 | John Ransom
    Let’s put this housing “boom” we’ve all heard about in perspective. Let’s look at it not just with Progressive-colored glasses, but also with the frank stare of Main Street watching a rodeo clown wearing a presidential mask. Stop me if you heard this one before: According to a report by Goldman Sachs all is not that rosy in real estate. The benefits of the housing recovery have been targeted to those who least likely need it. I’m not just talking about the widely reported disparity in prices between high-end and low-end homes. It goes much deeper than that.  Half of...
  • China's Newest Real Estate Investment Craze: Detroit's Housing Crisis

    08/05/2013 12:15:10 PM PDT · by SeekAndFind · 16 replies
    International Business Times ^ | 08/05/2013 | By Michelle FlorCruz
    Downtown Detroit’s housing market was hit hard by the recession, as well the collapse of manufacturing and the long-term exodus of people. Currently one of the nation’s worst housing markets, the prices of homes have plummeted, while foreclosures continue to skyrocket. While the city is struggling to recover, China’s real estate-hungry buyers see an investment opportunity. While many people in the United States aren’t looking to purchase homes, a new craze has hit Chinese investors hoping to cash in on Detroit’s woeful housing economy. After announcing that the city filed for bankruptcy on July 18, Detroit property has been a...
  • If You Build It, They Will Come (Capitalism produces millionaires & billionaires all over)

    08/04/2013 4:51:40 PM PDT · by 2ndDivisionVet · 3 replies
    The Philippine Daily Inquirer ^ | August 4, 2013 | Tina Arceo-Dumlao
    From her modest, uncluttered office at the executive floor of the BDO South Tower on Makati Ave., Teresita Sy-Coson commands a grand view of the bustling Makati central business district. And there are times as she gazes out of the picture window when she has to pinch herself because she still can’t believe that the shoe store that her father established in 1958 in Carriedo, Manila has grown into one of the country’s largest conglomerates. Forbes Magazine has estimated the Sy family’s net worth in the vicinity of $13.2 billion as of March 2013. “I still cannot believe it sometimes....
  • A City Invokes Seizure Laws to Save Homes (Richmond, Californis)

    07/30/2013 3:22:43 PM PDT · by dynachrome · 30 replies
    nytimes ^ | 7-30-13 | SHAILA DEWAN
    The power of eminent domain has traditionally worked against homeowners, who can be forced to sell their property to make way for a new highway or shopping mall. But now the working-class city of Richmond, Calif., hopes to use the same legal tool to help people stay right where they are. Scarcely touched by the nation’s housing recovery and tired of waiting for federal help, Richmond is about to become the first city in the nation to try eminent domain as a way to stop foreclosures. The results will be closely watched by both Wall Street banks, which have vigorously...