Archive for April 30th, 2008
Continue Reading April 30th, 2008
The foreclosure crisis is causing hardship, not just for homeowners but for an unknown number of renters. The Houston Chronicle today tells the story of a contractor who rebuilds Louisiana homes damaged by Hurricane Katrina, now facing eviction because the house he rents in Houston was foreclosed on.
Sapna Aiyer, a Houston legal aid attorney, told the Chronicle that new owners in Texas aren’t required to continue leases that previous owners signed. Even tenants who are up-to-date on payments can be given just 30-days written notice to vacate.
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Continue Reading April 30th, 2008
Brookwood Financial Partners L.P. sold three office buildings totaling 355,269 square feet in Denver’s Tamarac Square to Parmenter Realty Partners for $41 million. Read more »
Continue Reading April 30th, 2008
The New York City real estate market — though strong compared to other major cities — is finally losing steam. Although home prices continue to rise, homes aren’t selling as quickly as they did a year ago. The latest evidence comes from the New York City Office of the Comptroller, which says that real estate tax revenues fell during the first nine months of the budget year.
Real property transfer taxes fell 12.7% and mortgage recording tax collections dropped 20.1%, Reuters reported. The New York City, which has already lost jobs on Wall Street in the wake of the subprime crisis, could lose another 36,000 jobs, the city’s labor department reported last week.
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