Add comment January 31st, 2009
Foreclosures.com came in out with its up-to-the-minutest numbers today, a 63 percent rise in foreclosures for 2008, with a total of about 1 million throughout the year. The foreclosure process was begun on 2 million during 2008. Of those, 1.6 million were in the southerly and westerly states as you can see by the chart [...]Continue Reading Add comment January 30th, 2009
The Masters of the Universe have been dethroned. Now the question is just how much Wall Street’s meltdown is going to hurt the city of New York and, by extension, its high-priced housing market. Read more »
Continue Reading Add comment January 30th, 2009
It’s hard to find a tale much sadder than this recent news from Los Angeles about a man who killed his wife, himself and their five beautiful children. Real estate woes loom prominently in the story.
According to the Daily Breeze, Ervin Lupoe and his wife bought their suburban Los Angeles home for $290,000 in 2003, borrowing the entire amount. They refinanced it twice during the boom, taking out a total of $630,000. Then, apparently to help pay for child care, Ervin lied about his income and forged documents, a move that cost both he and his wife what would likely have been stable jobs working at a local hospital.
Ervin, a former Marine, blamed the hospital for his actions in a suicide note faxed to a local TV station.
Continue Reading Add comment January 30th, 2009
If you’ve never set foot in an architectural salvage shop, you’re missing out on an amazing world of bargains for house repairs and upgrades. A cross between a home improvement center and an antique store, these cavernous warehouses sell used, or “pre-owned,” house parts, from french doors and ornate mantelpieces to like-new commercial-grade appliances. Read more »
Continue Reading Add comment January 30th, 2009
Through Acadia Strategic Opportunity Fund III L.L.C., its third discretionary investment fund, Acadia Realty Trust has purchased Cortlandt Towne Center for $78 million.
Continue Reading Add comment January 30th, 2009
All space has been claimed at ProLogis’ 5.9 million-square-foot Kaiser Commerce Center in Fontana, Calif., now that a third-party logistics provider has committed to a long-term lease for the last 484,000 square feet of space at the sprawling industrial property.
Continue Reading Add comment January 30th, 2009
Preparing for the recovery of the commercial real estate industry, a joint venture called Cofinance-RiverOak Realty Partners formed with a goal of gathering “opportunistic real estate acquisitions” in the Northeast corridor from Boston to Washington.
Continue Reading Add comment January 29th, 2009
In a sign that banks are stepping up their efforts to combat foreclosures, lenders intervened to help prevent 239,000 foreclosures last month, according to a report released Thursday. Read more »
Continue Reading Add comment January 29th, 2009
Suffering from one of the highest foreclosure rates in the nation, Rhode Island is getting nearly $20 million from Washington to rehabilitate neighborhoods most affected by the mortgage meltdown. Read more »
Continue Reading Add comment January 29th, 2009
CNL Lifestyle Properties Inc. bought Jiminy Peak Mountain Resort, the largest ski and snowboard destination in southern New England, from Jiminy Peak Mountain Resort Inc., for $27 million.
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