Continue Reading Add comment June 2nd, 2008
Declining home prices across the nation are bringing valuations - the difference between what a home should cost and its actual price - back to pre-bubble levels, according to a survey released Monday.
Continue Reading Add comment June 2nd, 2008
Weeds stand waist high on the front lawn of the wood-frame, single-family house in Cleveland’s Slavic Village neighborhood. Trash spills out open doorways into the driveway and yard.
Continue Reading Add comment June 2nd, 2008
Reporting a recent story on how Realtors are coping with the housing slump, Ardell DellaLoggio, a broker in Seattle, told me one of the big changes is how much more work it now takes to close a home.
“It takes ten times as long to do to the same sale as two years ago,” she says. “In a hot market you’ve got two or three bidders. You didn’t have to deal with inspections in a normal manner.” In the past, she said buyers would forget about minor issues that popped up during inspections. In really hot markets, buyers would sometimes waive their right to inspect the property and ask sellers for concessions if major problems were discovered.
Now, DellaLoggio says, “it’s like a second round of price negotiation.” Buyers are now trying to chop tens of thousands of dollars off the already-agreed-upon price. And agents such as DellaLoggio have to go over inspection reports line by line, giving the seller’s responses. “This is the kind of work you need to do now to keep a sale in play,” she says. Here’s a link to her own blog.
Continue Reading Add comment June 2nd, 2008
Thomas Properties Group Inc. has entered into an agreement with UBS Wealth Management/North American Property Fund Limited, in which UBS will allocate $250 million to a joint venture program with Thomas Properties to acquire class A office properties in U.S. markets. Read more »
Continue Reading Add comment June 2nd, 2008
NAI Global said today that Gil Robinov has joined the company’s New York City office as executive managing director. Read more »
Continue Reading Add comment June 2nd, 2008
VisEn Medical, which specializes in flourescence in vivo imaging technology, is leaving its current 11,000 square-foot digs for 23,000 square feet in Bedford. Read more »
Continue Reading Add comment June 2nd, 2008
In the aftermath of the tower crane collapse in New York City last Friday that killed two construction workers and seriously injured a third, the office of the Manhattan district attorney has opened a criminal investigation into the accident. Read more »
Add comment June 2nd, 2008
I wouldn’t ring it disappointment, but rather a dose of reality. I passed the last week in Las Vegas at the Community 2.0 conference and with my family thenceforth. Coming up rearwards, I must aver that the trip kicked in me some much-involved perspective. Get me excuse. We work from home. We progress to videos, we [...]
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