Continue Reading Add comment May 20th, 2009
One of the biggest disappointments of the foreclosure prevention fight has been HOPE for Homeowners, a plan Congress passed in an attempt to help as many as 400,000 underwater, delinquent borrowers from going into foreclosure. Read more »
Continue Reading Add comment May 20th, 2009
Barbara Corcoran, founder of the New York real estate firm The Corcoran Group, has come out with the top 5 markets on the verge of recovering from the housing downturn.
Corcoran said on NBC’s Today Show that her list factors included overbuilding, population and job growth, demand from first-time home buyers, vital downtowns, and well-educated populations. She also said she looked for places that had early waves of foreclosures because those places might now be coming out of that cycle.
Here list:
1. Denver: “…has a vibrant downtown, it has a high employment base, it has educated people, it has youth, [and] it has one of the biggest park systems in the country… It had one of the highest foreclosure rates in the nation for years running, and now they’ve cut that foreclosure rate in half.”
2.Raleigh, N.C.
3. Austin, Texas
4. Seattle
5. San Francisco
Any cities you would add to this list? Are you skeptical about any of these places?
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Continue Reading Add comment May 20th, 2009
Sunstone Hotel Investors Inc. announced the sale of the 274-room Marriott located in Napa, Calif., for $36 million. Sunstone estimates that the property would require approximately $6 million in near-term renovation expenditures to comply with Marriott brand standards.
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