News about properties and real estate
More high-end properties sitting on the market After 14 months on the market and about a $1.2 million price cut, a large, newly built home in the Oakland hills is on the verge of selling, assuming the bank allows it to trade for less than what’s due on the loan. The approximately $950,000 “short sale” …
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Fear and Uncertainty Grows As Tainted Drywall Surfaces As the number of new homes and condominium communities affected by tainted drywall continues to rise, fear and uncertainty among residents, owners and potential buyers in Southwest Florida are growing. Much remains unknown about where defective wallboard from China was actually used. The idea that American manufacturers …
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Troubled Palm Beach Mall late on water and power bills, threatened with shut down over public safety [South Florida] The Palm Beach Mall, already facing a $55.4 million foreclosure suit, was hours away from having its electricity turned off this month because it had not paid its bill to Florida Power & Light, according to …
L.A. may test loan program for troubled Pacoima homeowners [Southern California] The Los Angeles City Council is poised to vote today on a plan to help distressed homeowners in the northeast San Fernando Valley by putting up city money for “silent second mortgages” that could encourage financial institutions to modify home loans. The pilot program …
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Corus Has Buyers for Its Condos: Vultures Corus Bankshares Inc.’s recent warning that it could be placed into receivership by federal regulators has set off a scramble among real-estate investors who hope to pick up the lender’s nonperforming loans. The Chicago-based firm, which became one of the leading lenders to high-end condominium towers from Miami …
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Home Prices Continued Their Decline in February Phoenix has achieved the unwelcome distinction of becoming the first major American city where home prices have fallen in half since the market peaked in the middle of the decade, according to data released Tuesday. Though historical statistics are scant, experts said the precipitous decline probably had few …
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