Alberta man selling his $400,000 house for virtual money, rather than cash

The real estate listing shows a cozy house on a river in the Rocky Mountains.

But there’s a twist: The owner of the two-bedroom bungalow is welcoming payment in an unregulated online virtual currency known as bitcoins.

“I really wanted to get my hands on some bitcoins and they happen to be quite hard to get if you want to get a large number of them,” said Taylor More, whose family owns the Crowsnest Pass, Alta., home.

via Alberta man selling his $400,000 house for virtual money, rather than cash.

Florida home prices: Orlando prices exceed Florida home prices

Orlando area’s residential real estate recovery has outperformed that of other areas within Florida for single-family sales but the area’s condo market has lagged behind.

Metropolitan Orlando’s residential real estate recovery has outperformed that of other areas within Florida for single-family sales but the area’s condo market has lagged behind.

The four-county metro area’s single-family home prices increased to $148,800 in February, which was an increase of 14.5 percent from a year earlier, according to report released Wednesday by Florida Realtors. Prices for houses throughout the state was $150,000 in February, increasing by 10.5 percent.

via Florida home prices: Orlando prices exceed florida home prices.

To track housing recovery, follow the cash trail

Michael Gatlin built his three-bedroom home in Flushing, Mich., with his own two hands.At 3,000 square feet, it had plenty of room for his two young boys. The home sat on nearly an acre of land — or snow, depending on the season — and the kids took advantage of every inch.Gatlin recalls summer days when his sons had two-a-day football practices and the entire team would come over at midday to swim in the pool while Gatlin grilled hot dogs.

via To track housing recovery, follow the cash trail.

Sarasota awaits the next move by Walmart

The City Commission’s rejection of Walmart’s plans to develop a supercenter on Ringling Boulevard may end up being but a small episode in a prolonged effort that could involve litigation by the Arkansas-based merchant.

“They have three options now,” said city attorney Robert Fournier. “Walk away, try a different approach to see if they could work with the city on rezoning, or litigate.”

For Walmart, the aging Ringling Shopping Center offers a choice 10-acre tract and the ability to better blanket Southwest Florida. The supercenters closest to the Ringling site are on Lockwood Ridge Road in southern Manatee County and on Cattlemen Road.

via Sarasota awaits the next move by Walmart.

NYC co-op owners priced out by soaring maintenance fees

Spiraling maintenance fees at co-ops are becoming a major headache for some owners — driving some of them to cheaper pastures.

Annual maintenance fees per room on the East Side rose from an average of $3,457 to $5,606 from 2001 to 2011, according to the Council of New York Cooperatives and Condominiums. On the West Side, fees jumped from an average of $2,784 to $4,671 per room over the same time frame.

For West Siders, real estate assessments doubled and their property taxes rose from $739 per room per year to $1,912. All together, taxes in West Side co-ops went from gobbling up 23 percent of a monthly maintenance bill to 37.5 percent, leaving co-op owners with a smaller pie slice to pay for utilities, repairs, infrastructure upgrades, debt service, insurance and labor.

via NYC co-op owners priced out by soaring maintenance fees.

Miami Condo Loan Marks Milestone

A group of lenders has agreed to make the first major construction loan for a condominium project in the Miami area since the crash, marking a milestone in the recovery of real-state financing market for condos. Loans to build condo towers were common during the boom years, but the downturn left Florida with an enormous glut of inventory and financing for new development evaporated.

But now a group of lenders led by Birmingham, Ala.-based Regions Financial Corp. has agreed to lend $160 million to the developers of the Mansions at Acqualina, an ultraluxury, 47-story tower under construction in Sunny Isles Beach, near Miami. Condos at the project, which includes amenities such as a private movie theater, a cantilevered swimming pool and a Turkish-style spa, start at $7.75 million.

via Miami Condo Loan Marks Milestone.