News about properties and real estate
Banks Take Losses on Short Sales as Foreclosures Soar Drew Schlosser tried for two years to sell his three-bedroom Punta Gorda, Florida, waterfront condominium for less than he owed on its two mortgages. The deal only went through last month when Wells Fargo & Co. agreed to take a $165,000 loss on the loans. Even …
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Dubai: A High Rise, Then a Steep Fall As financial crisis roiled much of the world in October 2008, the head of Dubai’s biggest state-owned developer unveiled his latest megaproject: a $38 billion development that would include a tower nearly two-thirds of a mile tall. “I’m sure most of you are asking why we’re launching …
Hanging on in sinking market In the fourth grade, he says, he sold more raffle tickets than the rest of his class combined. After graduating with his MBA from the University of Georgia, he founded a golf ball retrieval company, swimming among alligators to recover balls in water hazards. He opened offices in Wales and …
Give a Home for the Holidays ‘Tis the season of giving. But if you’re tired of the offerings at the mall, why not consider giving your children something grander, like the gift of a down payment to buy a home—or even a home itself? Uncle Sam encourages such generosity, at least within limits (the IRS …
Buying-and-selling real estate in this market takes experience, deep pockets In a booming real-estate market, making money investing in homes is easy. Buy a house, slap on a new coat of paint or replace the carpeting and ride the appreciation train to a quick, profitable resale a few months later. When prices decline — as …
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