Saturday: September 4, 2010 |
| 12:00AM | Brickmaking employs methods old and new
There are three ways to make bricks, explains Gary Clark, a sales manager for brickmaker Glen-Gery Corp., headquartered in Wyomissing, Pa.
United States - art - Music - Literature - Religion and Spirituality |
| 12:00AM | Where We Live: Ashburn Manor in Virginia's Loudoun County
Ashburn Manor is a neighborhood best defined by what it is not.
Virginia - Loudoun County Virginia - United States - Loudoun - Counties |
| 12:00AM | Fannie Mae's national lending program HomePath is worth a look
If you fit the profile -- typically buyers with little cash on hand or small-scale investors looking for a deal on a foreclosed house -- a little-publicized national lending program could be just what you need this fall.
Fannie Mae - United States -... |
| 12:00AM | Featured Advertiser
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| 12:00AM | A thick lawn can be yours with just a few steps
It is said, "To everything there is a season," and we just reached one of those times of the year. If you want the greenest, healthiest lawn possible, fall is the season to obtain your best results by stimulating strong networks of roots and... |
| 12:00AM | Lender could end up paying if all fees were not revealed at buyer's closing
Q: My wife and I purchased a house in Florida last April. This past weekend we received a letter and an invoice from the law office that acted as the parties' closing agent, informing us that we owed fees for "additional endorsements requested by... |
| 12:00AM | Brick facades are sturdy, but keeping them that way requires care
As old as dirt, the sturdy brick is. Long before fairy tales with pigs and wolves came along, ancient peoples knew the strength, fire resistance and durability of the humble clay brick. Modern people know that it adds value and the aura of prestige... |
Friday: September 3, 2010 |
| 10:45PM | FHA delinquencies continue to grow, refinance apps outnumber purchase apps
The rate of serious delinquent mortgages backed by the Federal Housing Administration (FHA) remained flat from June to July; however, the gross number of mortgages that are either 90 or more days past due or in foreclosure increased 31.5% from the same period a... |
| 9:57PM | Long Weekend Reading: Communes, Solar-Powered Caipirinhas and LEED-Certified $5 Footlongs
From intentional living in western New York to solar-powered grilled corn in Brooklyn to a green Subway in Chicago, here are a few green links for the long weekend. |
| 9:23PM | Posting: Flip-Flopping on Flip Taxes
In the weak economy, more buyers are being asked to shoulder the so-called flip tax.
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| 8:34PM | Town Houses With Condo Amenities
In downtown Manhattan, new condo developments offer owners both single-house-style privacy and luxe-building-style amenities.
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| 8:22PM | Big Deal: On 86th Street, a Town House Awaits Former Glory
Once a grand mansion steps from Central Park, it had fallen into disrepair. Now it is for sale for $8.95 million.
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| 8:22PM | 1 click | Big Deal: The Weird World of L.L.C. Names
The wealthy and celebrities often buy property under limited liability companies, often with whimsical names.
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| 8:22PM | In the Region | New Jersey: A Developer Installs Solar Power
At River Pointe, a community in Manchester, N.J., solar technology that earns energy credits is a standard feature in each house.
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| 8:22PM | STREETSCAPES/West End Avenue: Three Apples of Somebody’s Eye
West End Avenue and vicinity was once a stronghold of town houses. Three of the now-rare breed bear distinctive traces of the attentions of recent owners.
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| 8:22PM | Living In : Sea Gate, Brooklyn
A gated community on Coney Island surrounded by sandy beaches, Sea Gate has a suburban feel.
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| 8:22PM | Habitats: The New Jersey Teardown That Wasn’t
Where others saw a ruin, the buyer of a house in Millburn — a former contractor — perceived buried charm.
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| 8:22PM | Square Feet | The 30-Minute Interview: Ronald D. Sernau
Questions for a principal of the law firm Proskauer Rose and a co-chairman of the firm’s real estate division.
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| 8:22PM | The Hunt: Leaving Behind a Loft, but Not a Friendship
Two longtime loftmates appeared to be going their separate ways, but the hunt for new apartments landed them in the same building in Williamsburg.
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| 8:08PM | Most GSE capital reductions due to single-family credit guarantee
Nontraditonal and high-risk mortgages originated in 2006 and 2007 continue to wreak havoc on the capital levels of Fannie Mae and Freddie Mac.
The first Conservator™s Report on the Enterprises™ Financial Condition from the Federal Housing Finance Agency showed the single-family credit guarantee programs accounted... |
| 6:53PM | EU's big step toward crisis prevention
With the creation of a clutch of new financial watchdog agencies, the European Union this week took its biggest step so far to prevent a recurrence of economic crises that have thrown the future of the euro into question.
But the overhaul will not... |
| 6:51PM | MGIC added $1.2B in mortgage coverage in August
(AP)
AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined. |
| 6:45PM | The Real Deal on hiatus
The Real Deal will be off Monday in observance of Labor Day and will return Tuesday. Enjoy the holiday weekend and as always, if you have a tip, e-mail news@therealdeal.com. TRD
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| 6:30PM | Top sales agents of the week
The Real Deal has ranked the top listing agents of the week based on the highest priced residential deals filed with the city.
Top agents, from left: Cathy Franklin, Alexis Bodenheimer, Haidee Granger, Andrew Phillips, Amelia Gewirtz, Cathy Taub, Rosette Arons, Patrick Lilly and Helen... |
| 6:25PM | FDIC sells another $760 million in REO
Mariner Real Estate Management (MREM), a real estate investment and management firm based in Kansas, closed a deal to acquire a $760 million portfolio of residential and commercial loans and REO properties from the Federal Deposit Insurance Corp. (FDIC).
MREM is part of Mariner Holdings,... |
| 6:03PM | Ocwen closes HomEq buy, more than 1,000 job cuts possible
Ocwen Financial Corp. closed the acquisition of mortgage servicing firm HomEq Servicing, ending the firms time in the marketplace and sending more than 1,000 people home jobless by November.
In May, Barclays Capital agreed to sell HomEq to Ocwen Loan Servicing for about $1.3 billion.... |
| 6:00PM | Laureate exudes sense of serene competence
The Laureate at 2150 BroadwayIncrementally, though not without a few false steps, the Upper West Side is getting better. Some of its more recent developments, like the Corner at 200 West 72nd Street, have done the area no favors, but the general trend is... |
| 5:48PM | Finance after the crisis: Deutsche Bank, a tamer casino
Josef Ackermann, the head of Deutsche Bank, combines a silky manner with blunt words. When the German government set up a bail-out fund to stabilize the country™s banking system, he said he would be ashamed to use it. When Europe and... |
| 5:37PM | 'Recovery summer' ends with economic pothole
Whatever happened to recovery summer?
This was supposed to be the season the economy heated up, thanks to a wave of public works projects, funded by the governments stimulus program. But summer is coming to an end, and the recovery has not... |
| 5:30PM | NYC charter commission steers clear of land use hot spots
Six months after being formed, the city Charter Revision Commission issued its final report yesterday, declining to make any recommendations on the three thorniest land use issues before it. The 15-member panel appointed by Mayor Michael Bloomberg heard from deeply divided interest groups such... |
| 5:00PM | Harlem residents protest charter school ... and more
1. Bedbugs discovered at Google™s Chelsea headquarters [NYO] 2. Law and Order star Mariska Hargitay buys $7.34 million Hamptons property [Real Estalker]
3. Billy Joel lowers price for Sagaponack home, now asking $19.9 million [Newsday]
4. Downtown™s Flea Theater artist space to launch capital campaign for... |
| 4:47PM | Mo. drops appeal of real estate ballot measure
(AP)
AP - An initiative barring taxes on home and land sales is clear to appear on Missouri's ballot after the state dropped an appeal Friday of a judge's decision ordering the election. |
| 4:43PM | Owners Refuse to Let Newsstand Mar Sublime Beauty of I.M. Pei Building
Wall Street Plaza is a 33-floor building at 88 Pine Street that rises up beside the East River in Lower Manhattan. Famed architecture firm Pei Cobb Freed and Partners designed the tower in the late 1960s, and the building now houses the firm's offices.... |
| 4:31PM | Another homebuyer tax credit won't solve housing crisis
One of the topics of the moment is whether or not Congress will bring back the homebuyer tax credit. But this misses the point. The real issue is whether another tax credit would solve the housing crisis in one fell swoop. The short answer... |
| 4:30PM | Alexico hit with $197M suit at Flatotel
Simon Elias (left), Flatotel at 135 West 52nd Street and Izak Senbahar
Alexico Group is facing a $196.7 million lawsuit at the Flatotel, after Atlas Capital accused the developer of defaulting on the property™s mortgage loans. According to the suit, filed in New York State... |
| 4:29PM | FHA puts floor on borrower credit eligibility
Borrowers with credit scores less than 500 are not eligible for Federal Housing Administration-insured mortgage financing, according to the new credit score and loan-to-value (LTV) requirements released today by the U.S. Department of Housing and Urban Development.
This is the first time the FHA has... |
| 4:12PM | [Van Halen] Right Now: Townhouse Running Video
Ok its Friday and we all need to kill some time before the weekend starts. Check out the infusion of Van Halen into Manhattan Townhouses by a guy in a white suit.
Todd Stevens, a New York real estate agent with Prudential Douglas Elliman,... |
| 4:00PM | SL Green to gain $66M from 510 Madison
SL Green Realty is expected to gain $66 million profit on the sale of 510 Madison Avenue, according to a report from FBR Capital Markets cited by Nasdaq. The real estate investment trust owned $280.5 million of senior and mezzanine debt on the property... |
| 3:52PM | Credit Suisse sees continued MBS spread volatility
Credit Suisse analysts expect continued spread volatility in mortgage-backed securities although the Fed backstop should contain any basis widening.
In this weeks mortgage market focus report, the financial-services company said wider spreads or higher paydowns may prompt the Fed to reverse course and reinvest proceeds... |
| 3:52PM | 10 Unique, One-of-a-Kind Homes
If you consider yourself a non-conformist, or one who shuns traditional ways of doing things, then here is a perfect lineup of nontraditional homes that should fit your spirit perfectly. Take your pick from a church, an old firehouse, an earthship home, a geodesic... |
| 3:30PM | BlackRock to assess industry's CMBS losses
Investment management firm BlackRock was hired by state insurance regulators to evaluate the industry™s potential losses from holding commercial mortgage-backed securities, Bloomberg news reported. By the end of the year, BlackRock will review more than 7,000 securities, the National Association of Insurance Commissioners said... |
| 3:19PM | Rental Eye Candy: Fort Lauderdale, FL
Riding on the coattails of our excitement about partnering with Apartments.com, it seemed fitting to find this week™s Rental Eye Candy from Zillow™s 90,000 newly acquired rental listings.
An array of museums, beaches and nightlife make Fort Lauderdale, FL one of America™s hottest tourist destinations.... |
| 3:00PM | Two Trees to buy building from Moinian
David and Jed Walentas, the father-and-son real estate team that heads Two Trees Management, are in contract to buy a $129.5 million Chelsea office building from Joseph Moinian™s the Moinian Group, the Observer reported. In an off-market deal, the company gave a hard deposit... |
| 3:00PM | [Friday Light] What’s In A Name? Miller Takes 7th Place
A little more than four years ago I wrote about how many people had my full name. Plus, I think there are something like 8 pages of Millers in the Manhattan phone book (if anyone ever uses them anymore).
Well, the census results are in... |
| 2:46PM | CurbedWire: Bored on Bedford Avenue; Open House New York Update
WILLIAMSBURG-Our special Curbed correspondent is really excited about this reveal at 201 Bedford Avenue: "I'm not sure if you'll care about this but the scaffolding is off 201 Bedford. It's been a work in progress for a long time.... |
| 2:45PM | Evening Links (Early!): Earl and Hamptons Brokers; Moinian and Foreclosure; Quinn and Vornado
Editor's note: We will not be blogging Monday. Happy Labor Day!
Twin steel columns from original World Trade Center back at ground zero. (Curbed)
Devonshire House ties biggest sale ever with $5.2 million deal. (Curbed)
More trouble for Moinian: foreclosure proceedings at 1775 Broadway. (Bloomberg)
Columbia wants Inwood... |
| 2:34PM | Linkage: Dumbo Building's Penthouse Addition Revealed; More!
[Takes one to tow one, via EV Grieve] , Penthouse addition to 25 Washington Street revealed! [DumboNYC] , Century Tower condo conversion faces $6 million lawsuit [Real Deal] , Nearby residents still resisting Harlem Children's Zone project [BH] ,... |
| 2:30PM | Stalled Williamsburg project gets new start
A stalled waterfront project at 11 Broadway in South Williamsburg is being revived by L+M Development Partners and Goldman Sachs Urban Investment Group, with both parties closing this week on financing for the mixed-use development site, Crain™s reported. The project will include 134,000 square... |
| 2:22PM | Comment of the Day: "Modern architecture and modern architects have...
"Modern architecture and modern architects have no regard for humans, they have no straight lines and aren't made of glass."-Lo-Pan [I.M. Pei's Architect Army Fights Newspaper Salesman] |
| 2:12PM | Eater Tastings: New Waffle Irons in the Greenwich Village Fire; More!
This week's top dish from Eater NY, Curbed's restaurant, bar, and nightlife blog... 1) West Village: Waffle shops don't have the greatest track record in the Village, but that's not stopping Wafflemeister, rendered above. The owner is set to appear... |
| 2:12PM | Rent vs. Buy (Video)
Zillow's Spencer Rascoff answers timely real estate questions from Zillow Blog and Zillow Advice. This video touches on the pros and cons of renting versus buying.
Have a real estate question you'd like answered? Ask it in Zillow Advice, post it on Zillow's Facebook... |
| 1:55PM | Flipping Out: There was some skepticism (and the...
There was some skepticism (and the suggestion that crack had returned to Park Slope) earlier this summer when the buyer who picked up 65 Prospect Park West for $1.4M last year relisted it for a whopping $3.4M. But that seller... |
| 1:37PM | Real Estate Sold: Buyers Go From Williamsburg, to the Racetrack, to $5M Condo
The Devonshire House didn't close many units in August, but the white-hot conversion of the pre-war Central Village rental building did bag a big one: A $5.2 million sale of a 4br/3.5ba apartment that matches the building's biggest deal... |
| 1:20PM | Quicklisting: The Visionaire, $1.33M
2 BR, 2 BA 1,209 sq ft Condo Asking: $1,330,000 | W Exposure 70 Little West St., #8J [TheVisionaire.com] |
| 1:03PM | Video Interludes: A Real Estate Broker. 53 Manhattan Townhouses. Van Halen.
What can we say, we're suckers for brokers with a sense of humor about their profession. But you'd better watch this video of Elliman's Harlem specialist Todd Stevens celebrating his triumphs before Labor Day, or else that suit's going... |
| 12:44PM | Beech Street Refis Jackson Heights MF
NEW YORK CITY-A Fannie Mae DUS loan for $13 million provides permanent financing for Alpine Gardens Apartments, highlighting this week's wrap-up of deals. |
| 12:35PM | Neighborhood Names: Flatiron Hotel's New Look Revealed in NoChe (NoChe?)
Move over Ace, NoMad, Eventi and all the rest-the latest new boutique hotel we're keeping an eye on in this part of town is the Flatiron Hotel at Broadway and 26th Street. Like most other buildings in the suddenly... |
| 12:21PM | In Deed! Uchitel on Park; Kempner's Grandson Buys at 30 Fifth; Hamptons Site Listed for $81.5 M.
- Nate Kempner, grandson of society stalwart and rail-thin haute couture clotheshorse Nan Kempner, bought a $1.52 million apartment at 30 Fifth Avenue with his newlywed bride, Baily, though the deed listed both parties by their more formal names, Thomas Kempner (after his late... |
| 12:18PM | Control your online destiny
Agent Reboot Speaker Profile: Kristal Kraftread more |
| 12:17PM | Curbed Hamptons: Southampton Owner Waiting for CEO's $165K Rent Check; More!
The latest headlines from Curbed Hamptons, our outpost on the East End... 1) Over at 2170 Meadow Lane in Southampton (above), where Lazard co-CEO Matthieu Pigasse spent a night in August, the owner's still waiting for the $165,000 rent check.... |
| 12:03PM | Goldman arm revives Williamsburg project
L+M Development Partners and Goldman Sachs Urban Investment Group have revived a long-stalled waterfront development site near the Williamsburg Bridge in Brooklyn.Both parties report that they closed this week on the financing for the mixed-use project, located at 11 Broadway in South Williamsburg. The... |
| 12:02PM | Closing Bell: Holiday at the Flea
The Brooklyn Flea will be making its regular appearance this holiday weekend both in Fort Greene this Saturday and at Skylight One Hanson, across from the Flatbush Ave. Target, on Sunday. Check out some of the food vendors profiled in The New Brooklyn Cookbook... |
| 12:01PM | Do Mortgage Prequalifications Make a Difference?
Obtaining a loan for a mortgage payment can be a very involved and intricate process. In some cases, there are steps that prospective homeowners can take to expedite the process such as filing for a pre-qualification or pre-approval. Zillow user Mike_O from Brooklyn, NY... |
| 11:17AM | Economic genie is out of wishes
Commentary: Welcome to the political fun houseread more |
| 11:00AM | Requiem for the Manhattan Bookstore, Large and Small
With Upper West Siders still mourning the announcement of the looming closure of the Barnes & Noble across from Lincoln Center, it seems a petty to point out that only 15 years ago they picketed its... |
| 11:00AM | 2 clicks | Ten Signs That You Need Time Off From SM
Guest Blogger Alex Cortez is a REALTOR in Hawaii, specializing in Maui Condos. Visit his Maui Real Estate Blog for local market information.
With social media becoming one of the newest and hottest tools in a real estate agent's bag, there are some who have... |
| 11:00AM | Building of the Day: 555 Prospect Place
The BOTD is a no-frills look at interesting structures of all types and from all neighborhoods. There will be old, new, important, forgotten, public, private, good and bad. Whatever strikes our fancy. We hope you enjoy.
Address: 555 Prospect Place, corner of Classon Ave.
Name: Brooklyn... |
| 10:43AM | Development Watch: 777 Driggs
777 Driggs, between South 3rd and 4th Streets, is moving towards completion. We don't know how long the building has actually been in construction but the new building permit was filed back in 2008. The project will have eight units when all is said... |
| 10:40AM | Court decision on noise worries bars
A recent ruling in favor of a West Side co-op building said that a roof-deck bar operated by well-known restaurateur Jeffrey Chodorow at the Empire Hotel exceeded a city ordinance for noise level and interfered with the residents' 'right to use and enjoy... |
| 10:39AM | Homebuyer tax credit off the radar
GAO puts bill for program at $22 billion through 2019read more |
| 10:31AM | [Patterns] CNBC/Trulia Home Traffic Report
Trulia teamed up with CNBC to leverage their unique data, tracking consumer search behavior in the nation's top 100 cities as a possible proxy for future sales activity in a market. It's intriguing and uncharted (no pun intended) waters. I look forward to... |
| 10:02AM | Streetlevel: Baklava for Bay Ridge?
The Cafe at Sam's Bakery opened earlier this month in Bay Ridge, but Sam (short for Samia) has been shipping her famous baklava all over the world via SamsBakery.com for a while now. We heard that Sam was giving out free baklava with... |
| 9:33AM | Fewer US Jobs Lost in August; Private Hiring Beats Forecasts
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| 9:09AM | Open House Picks
The selection of open houses this holiday weekend is so woefully slim that it's not even worth trying to come up with some picks this week. If there's anything you think's worth checking out, feel free to post links in the comments. |
| 8:41AM | Open House Picks: Six Months Later
Comment: Not so bad.
Open House Picks 3/5/10 [Brownstoner]
Previous Six Months Later Posts [Brownstoner] |
| 8:38AM | It's Free to Look: 1055 Park Avenue
Finally you can have your Park Avenue view and iPhone-controlled blinds, too.
Defying all the musty stereotypes, 1055 Park Avenue features a cascading glass staircase, white oak floors and plenty of European appliances with unpronounceable names. And because every luxury condo should come with a... |
| 8:07AM | 2 clicks | Morning Links: Islamophobia, Stuy Town, Miniature Golf
New York Times editorializes in favor of mosque near Ground Zero. (NYT)
Poll finds New Yorkers slightly less Islamophobic than rest of country. (NYT)
A review of the U.S. Open's culinary options. (WSJ)
Second time's a charm. During this year's fight for Stuy Town, tenants harder to... |
| 7:32AM | Party at the Green Building
Over the weekend, a New Orleans-style brass band marched down Union Street, followed by a well-dressed young man - possibly a groom - on a white, wooden, four-wheeled horse, who was being pushed down the sidewalk by a parade of masquerading revelers in formalwear.... |
| 7:30AM | Staycation: Bannerman Castle
For many of us, staycations are this year's vacations. Instead of the cottages and castles of the Continent, visit one of New York's fascinating house museums. Each week, for the entire summer, we'll alternate between a site in New York City, or one... |
| 7:02AM | Another Perspective on 25 Washington
Here's another angle on the rooftop action at 25 Washington in Dumbo, which will consist of penthouse apartments and cabanas. In related news, 25 Washington is also on the September 7th LPC agenda to establish a master plan governing the future installation of windows,... |
| 6:25AM | A Doorman™s September: ZipCars and static cling
September marks the run-up to the greatest month of all in the doorman calendar. (If you don™t know what month I™m talking about, you haven™t been paying attention.)
But it™s also got its share of annoyances, such as:
Back to school
Weighted down by their oversized bookbags... |
| 6:17AM | Questions about bed bug hysteria; how to shush a rooftop bar; and more!
Too much bed bug hysteria? (Bedbugger.com)
Spy games landlords play (NYT)
Raw dealing for buyers without brokers (Malcolm Carter)
Board members: Boost your lawsuit avoidance IQ (New York Law Journal)
Got noise? So did this UWS co-op (Habitat Mag)
Why the first offer is always right (StreetEasy forum)
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| 6:07AM | 1 click | Cash for Clunkers hurt poor and unemployed drivers
One year later, Cash for Clunkers was still a dumb, economically harmful idea:IN THE market for a used car? Good luck finding a bargain: The price of pre-owned™™ vehicles has climbed considerably over the past year. ...No great insight was needed to realize that... |
| 1:00AM | 3 clicks | Finding what clicks in real estate
Agent Reboot Speaker Profile: Mariana Wagnerread more |
| 1:00AM | Fannie cracks the foreclosure whip
Servicers warned to meet timelines or face finesread more |
Thursday: September 2, 2010 |
| 11:44PM | 1 click | Vamp in Cooper Sq.
Bloodsucking Twilight beauty Ashley Greene has signed a lease for a one-bedroom at the new 2 Cooper Square rental building, where one-bedrooms start around $4,000 per month.
Greene, who plans to share the new apartment with her dog, hasn™t moved in yet but has... |
| 11:37PM | Builders of N.Y. mosque face financial hurdles
The developers planning to build a $100 million Islamic center near the World Trade Center site are nearly a quarter-million dollars behind on real estate taxes and late fees.
World Trade Center - Islam - Real estate - New York City - September 11... |
| 11:28PM | [NAR] July 2010 Pending Home Sales Index
[click to expand]
The Pending Home Sales Index, a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1 percent below July 2009 when it was 98.1. The data reflects... |
| 10:48PM | Citigroup Gets Burned in the Caribbean
The bank is selling its mortgage on the Viceroy Anguilla to Starwood Capital Group at a hefty discount, the latest example of capitulation by a bank that has nursed a troubled real-estate project for years. |
| 9:26PM | Con man could get life under Calif. 3-strikes law
(AP)
AP - A man accused of bilking elderly South Los Angeles residents out of their homes in a foreclosure scam is facing a potential life sentence in a rare use of California's three-strikes law for a white-collar crime. |
| 7:52PM | Oil prices rise after mixed economic news
(AP)
AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales. |
| 7:00PM | After a Decade of Ups and Downs, What is Housing™s True ˜Normal™?
For the past four years, homeowners across the country have been watching their home values drop. Most have seen them drop substantially - our national Zillow Home Value Index has fallen nearly 24% since home values peaked in 2006.
But for nearly a decade before... |
| 5:27PM | Evening Links: Stuy Town Fight Hits the Courtroom; Affordable Housing Spat in Harlem
Former Parks commish Henry Stern really doesn't like 15 Penn Plaza. (HuffPo)
The long-sought East River Science Park is slated to open in September, complete with a trendy restaurant. (WNYC)
Stuy Town creditors warred in court today, with no resolution, over the property. (Crain's)
You can go... |
| 5:23PM | Summary Box: Mortgage rates hit low of 4.32 pct.
(AP)
AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent. |
| 5:21PM | Decision Delayed on Stuy-Town Foreclosure
NEW YORK CITY-A judge heard arguments Thursday in the dispute between mortgage holders and a partnership that bought senior mezz debt, but did not issue a ruling. |
| 5:17PM | Manhattan, Ho! Brooklyn Walentases Buy Manhattan Office Building from Moinian
David and Jed Walentas, the father-and-son real estate moguls whose Two Trees Management got its start decades ago in Soho, before abandoning it to craft Brooklyn's Dumbo neighborhoodalmost wholecloth, are buying a Manhattan office building, the only one in their portfolio.
The family is in... |
| 5:16PM | 1 click | The loss leader strategy of new developments and how to recognize it
One strategy effectively used by developers to move otherwise stagnant inventory is that of the 'loss leader'. They price one or two units in a building below market to generate interest, traffic and press, all of which can help in the selling of the... |
| 5:14PM | How to Get a Government-Backed, Zero-Down-Payment Mortgage
(U.S. News & World Report)
U.S. News & World Report - More than four years after real estate values peaked, the historic plunge in home prices remains fresh in the minds of mortgage lenders. After taking painful losses on delinquent home loans, banks have imposed tougher standards--such as increased... |
| 5:13PM | Pending home sales rise 5.2 percent in July
(AP)
AP - The number of buyers who signed contracts to purchase previously occupied homes increased in July but remained well below last year's levels, a sign that demand for housing remains weak. |
| 5:01PM | Summary Box: Pending home sales up 5.2 pct in July
(AP)
AP - PENDING HOME SALES RISE: The number of buyers who signed contracts to purchase previously occupied homes increased by 5.2 percent in July from June. |
| 3:29PM | Robert Hurst's 950 Fifth Co-op Sells for $25 M.
I wonder if Mort Zuckerman will be baking any pies to welcome his new neighbor at 950 Fifth Avenue, the exclusive seven-unit co-op he calls home. According to city records, the duplex on the eighth and ninth floors formerly belonging to Goldman Sachs veteran... |
| 3:26PM | Mortgage rates hit record low: Freddie Mac
(Reuters)
Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company. |
| 3:19PM | 1 click | Tips for getting homeowners insurance
1. Loyalty is overrated |
| 3:01PM | Manhattan Co-op Maintenance Up 19%
[click to open article]
AnnaMaria Andriotis at SmartMoney asked me to look at the state of maintenance charges for Manhattan co-ops on an annualized basis.
It's generally easier to look at maintenance charges for co-ops on a per square foot basis per month (ie a 1,000... |
| 2:45PM | Communities key in foreclosure fight: Fed officials
(Reuters)
Reuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery. |
| 2:30PM | Pending home sales rise 5.2% in July
The number of buyers who signed contracts to purchase previously occupied homes increased in July but remained well below last year's levels, a sign that demand for housing remains weak.
Contract - Business - National Association of Realtors - Residential Housing - Construction and... |
| 2:01PM | 3 clicks | Zillow: Now Serving 12.5 Million Users
When Zillow execs fire up the griddle and serve breakfast to Zillowites, it™s a sign of two things: sizzling bacon, which also means sizzling Zillow results.
(Photo above, left to right, General Counsel Kathleen Philips, Chief Economist Stan Humphries and VP of New Ventures Chloe... |
| 2:00PM | 1 click | Vornado Plans $400M Buyback of Senior Notes
NEW YORK CITY-Goldman Sachs is acting as the deal manager for the REIT's repurchase of convertible debentures due in 2026 and 2027. |
| 1:57PM | HRC Closes on $2.8M Mortgage Loan
NEW YORK CITY-The loan was used to purchase the existing first mortgage on an 8.9-acre industrial park in Staten Island. |
| 1:40PM | Maddow Wishes Death on Lockhart Steele and Co.
On Aug. 11, real estate blog Curbed posted a seemingly innocuous scoop: Rachel Maddow and her partner, Susan Mikula, had bought Michael Stipe's old apartment at 130 Jane Street for a cool $1.25 million.
The blogger, Sara Polsky, also posted photos and a floorplan for... |
| 1:35PM | Stuy Town locked in legal limbo
The fate of Stuyvesant Town/Peter Cooper Village remained in limbo Thursday after a New York state Supreme Court judge postponed ruling on whether a joint venture, which includes a hedge fund run by high-profile manager Bill Ackman, can foreclose on the property.In a standing... |
| 12:48PM | 5 big banks embrace mortgage mod efforts
Amanda Fung - Five of the city's largest banks have responded to a call for foreclosure reform, City Comptroller John Liu announced Thursday morning.Last month, Mr. Liu sent a letter to Bank of America, Citibank, J.P. Morgan Chase, Wells Fargo and HSBC asking... |
| 12:20PM | Carnival of Real Estate (CoRE) Kicks Off!
For anyone who enjoys staying informed about the real estate industry and reading real estate-related blog posts by RE pros, you'll be happy to know that the Carnival of Real Estate (CoRE) has returned.
The first host of the new and improved CoRE was Drew... |
| 11:44AM | Mortage rates still seeking a bottom
With fears of inflation at bay, rates set new lowsread more |
| 10:48AM | Pending real estate sales inch up in July
West sees biggest month-to-month riseread more |
| 10:44AM | NYC Real(i)ty Speak: Nannyisms
The cost of raising kids in the vertical village often necessitates two incomes and the outsourcing of care for said kids. But when you share the love and care of a child, open conversation can be challenging...
'Can I make you some coffee, dahlin'?' Translation:... |
| 10:37AM | 1 click | Stringer opposes Extell's mega Riverside project
Manhattan Borough President Scott Stringer said he opposes Extell Development's planned Riverside Center housing development on the Upper West Side. Mr. Stringer has a problem with the density of the 2,500-apartment project and wants more open space and schools. |
| 10:36AM | CEO of Sacramento brokerage on leave
County investigating alleged use of hidden camerasread more |
| 10:35AM | Law forces brokers to reveal more
Beginning in January, residential brokers will be required by a new law to provide buyers and sellers of co-op and condominium apartments with written disclosure forms outlining who they represent in transactions. The law, which was signed by Gov. David Paterson on Monday,... |
| 10:30AM | 1 click | [ChartPorn] New York City Foreclosures et al
Crain's New York just released their City-Facts edition which is chock full of data (including ours). Here are a few key charts in the residential section.
And charts based on our firm's data.
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| 9:39AM | Agents and their tech thingies
Realtor Notebookread more |
| 9:00AM | [RSS] Thursday Morning Before Earl Infomosis
And some other interesting stuff that's been accumulating in my RSS reader...
[West Side Spirit] Manhattan Borough President Scott Stringer rejects Extell's Riverside plans
[Think BIG] Bearish Sentiment Rises to Highest Level Since March 2009
[MyTownCryer] Rational Apathy or Good Common Sense?
[Mass RE News] Realtors Should Not... |
| 8:53AM | Jobless Claims Edge Lower, Productivity Takes Dip
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| 7:47AM | Strawberry's patch
Darryl Strawberry is standing in the living room of his two-bedroom apartment at Ohm, a new rental building in far west Chelsea.
You want to see one of my favorite things? he asks.
The baseball legend hasn™t been in this $5,295-per-month apartment long ” just a... |
| 6:13AM | My Big Fat Board Interview: Co-ops don't like foreigners?
I am from France and still own an apartment there where I am on the board. I lived in New York for eight years as a renter before looking for an apartment to buy early this year.
It took four months to find a one-bedroom... |
| 3:35AM | Aid for homeowners may be doing more economic harm than good
Fortune Magazine questions the usefulness of government programs to aid struggling homeowners:It's easy to see the need for such programs. Theoretically, they keep people in their homes and bring some stability to fragile housing market. But the plethora of programs announced since the housing... |
| 3:16AM | 1 click | Just sold!
Manhattan
CENTRAL PARK SOUTH $3,500,000
160 Central Park South Two-bedroom, two-bath condo, 1,100 square feet, with dining area, new kitchen, en-suite marble bath, central AC, 1,200-square-foot wraparound terrace and park views; building features doorman, elevator operator, gym, and maid service. Common charges $3,738, taxes $745... |
| 1:00AM | 1 click | 5 ways to stay positive in a down market
Be the agent your clients would love to work withread more |
| 12:00AM | Metropole Seeks Tenants for Former Fortunoff Building
NEW YORK CITY-Despite completing massive renovations to the Fortunoff building, the 18-story building on 681 Fifth Ave., still stands empty. |
| 12:00AM | Two Trees Acquires 50 West 23rd Street Building
NEW YORK CITY-Two Trees Management, a family-owned real estate firm, has signed a contract to acquire a 340,000 square-foot office building at 50 West 23rd Street, Manhattan, from Moinian Group for $129.5 million. |
| 12:00AM | New Law Demands More Transparency from NY Brokers
NEW YORK CITY-New legislation instituted in New York will require realty brokers to disclose information to sellers and buyers of condos and co-ops in written form describing the relationship between the brokers and their clients and the responsibilities of the brokers. |
Wednesday: September 1, 2010 |
| 11:55PM | 1 click | Is it the Right Time for You to Buy?
It seems like a great time to buy a house (if you don't have to sell), values are down (so affordability is up), interest rates are at all-time lows, and high levels of inventory are languishing on the market. It all adds up to buyers who... |
| 11:07PM | All fall down
˜It™s kinda like the Wild West up here, the town official said, shaking his head. It™s remote. It™s an old road. People do what they want to ” and they usually get away with it ™cause no one™s minding anyone™s business.
Except me, that is.... |
| 11:01PM | Mortgage Definition: FHA Streamline Refinance
This week, mortgage lender Justin McHood explains an FHA streamline refinance program, which is a program designed for people who currently have an FHA loan to take advantage of lowering their interest rate when rates drop with less documentation than a normal refinance requires.'
Justin... |
| 9:09PM | Down On The Riverside: Scott Stringer Unloads On Extell™s Riverside Center Mega-Development
Community Board 7 demanded more sustainability from Riverside Center, a mega-development on the UWS. Now Borough President Scott Stringer is doing the same. |
| 8:37PM | [The Housing Helix Podcast] Mark L. Stark, Owner/Broker/CEO, Prudential Americana Group, Las Vegas
A few months ago I met Mark Stark, CEO of Prudential Americana Group in Las Vegas, NV so I thought I'd ask him to have a conversation about the challenges of his market. Mark is very candid about his market and we had a... |
| 8:00PM | Homes For Sale and Home For Rent in Memphis, TN
Last week we compared homes for rent and homes for sale in San Antonio, TX. Today we are heading a little farther east to the home of our beloved King of Rock n' Roll, Elvis Presley. Yup, Memphis, TN.
While the Graceland Mansion isn't included... |
| 7:43PM | Homeowners feel stress of life 'underwater'
A broad swath of homeowners ” those not headed for the worst-case scenario of foreclosure ” are nonetheless grappling with the impact of lost home equity.
Foreclosure - Real estate - Business - Investing - Mortgage loan |
| 5:21PM | Stock Performance Drives REIT Compensation Gains
NEW YORK CITY-Surveys by Schonbraun McCann and NAREIT both find REITs cautiously optimistic about their prospects for next year. |
| 4:33PM | B&N Out, Century 21 In on Upper West Side
NEW YORK CITY-A Lower Manhattan fixture for 50 years, Century 21 is leasing 61,000 square feet of retail space near Lincoln Center. |
| 4:23PM | Banks to allow local groups to buy foreclosures
Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors.
Foreclosure - United States - Local government - Non-profit organization - Real estate |
| 4:08PM | Mortgage applications rise 2.7% on low rates
Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.
Mortgage - Loan - Business - Financial services - United States |
| 3:18PM | New CNBC/ Trulia Home Traffic Report
This morning we released a new monthly exclusive report with CNBC titled the CNBC/Trulia Home Traffic Report. The monthly reports will look at the share of traffic in local markets, relative to the top 100 cities searched across the country in the given... |
| 3:00PM | [Fannie Mae ] Appraisal Regs: They Actually Want To See What The Property Interior Looks Like
To show you how bad things got, Fannie Mae is now in the process upgrading their appraisal regulations to reflect more prudent risk management. Part of this upgrade was to begin to insist that appraisers have local market knowledge and to now actually... |
| 2:23PM | New Resorts Owners Roll Dice
Morris Bailey and Dennis Gomes are paying $35 million for Resorts Atlantic City, at a time when gambling revenue is declining and customers are being siphoned off to Pennsylvania venues. |
| 2:20PM | Capital Freeze Thaws for Real-Estate Funds
Real-estate funds saddled with boom-time properties are getting relief from Wall Street firms and other investors hoping to capitalize on their need for cash. |
| 2:18PM | Tell me more: Sponsor sweetheart deals targeted by new disclosure law
In a flurry of bill-signing this week, Governor Paterson enacted several disclosure laws related to real estate: Landlords now have to tell potential renters about bed bug infestations, real estate agents have to confess divided loyalties to their clients in writing”and now co-op and... |
| 2:13PM | Wall Street Sees Opportunities in RE Funds
NEW YORK CITY-Investors take advantage of funds' need for cash at a time when few funds succeed in going back to the well, the WSJ says. |
| 12:53PM | Brokerage finds novel way to stand out
Amanda Fung - In the city's hyper-crowded residential real estate brokerage industry, a brand new firm has come up with a novel way to stand out. Former Prudential Douglas Elliman broker Jason Haber and his brother Cory will donate a portion of their... |
| 12:25PM | NY mortgage agency cuts borrowing costs
Bloomberg News - (Bloomberg) -- State of New York Mortgage Agency, which provides subsidized home loans to low- and moderate-income families, cut its borrowing costs 31% since April on about $133 million in tax-exempt housing bonds as demand from individual investors helped drive... |
| 12:10PM | [Mansion Tax] Behavior Modification: Party Like Its $999,999
[click to open article]
In the aftermath of federal tax credit for first time buyers and existing homeowners as part of the stimulus program, I newly appreciated one key thing: buyers and sellers modify their behavior to work a tax to their best advantage.... |
| 11:45AM | The Ultimate NYC Open House Guide for SELLERS (Part 3): Showtime
On the day of your open house, your agent needs to do more than babysit the sign in sheet and hand out business cards.
For the final installment of our 3-part open house guide for sellers, we put together this round-up of best-practices advice so... |
| 10:59AM | 1 click | Using Google to Work More Efficiently
Guest Blogger Alex Cortez is a REALTOR with Hawaii Life Real Estate Services. Visit his Maui Real Estate site for local information.
The keys to Google's success as a search engine have been its perfect blend of simplicity and functionality. Fortunately, those traits have transcended... |
| 8:58AM | Private Sector Hiring Shrinks, But Planned Layoffs Fall
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| 8:05AM | Dear Ms. Demeanor: My housekeeper stole from me. Should I tell?
Dear Ms. Demeanor:
Last week I came home while my housekeeper was working, and when I moved her bag from a chair, I saw some of my silverware inside.
It's not expensive stuff, so I'm guessing that my housekeeper (who came to me last... |
| 5:47AM | 1 click | Corio's Turkish Strategy Stumbles
The Dutch company's expansion has yielded disappointing results due to the weak economy, competition and the difficulties of exporting Western shopping concepts to a country steeped in different traditions. |
Tuesday: August 31, 2010 |
| 6:13PM | Ever so humble, but housing is more expensive
You look back 10 years, what did you get? A little bit cleaner and deeper in debt. With apologies to Tennessee Ernie Ford, that™s a brief synopsis of how U.S. home life has changed during the past decade.
United States - Tennessee Ernie Ford... |
| 5:58PM | Help for Hyatt Isn't Enough
A Jacksonville hotel missed paying its mortgage despite $5 million in help from the Hyatt chain. |
| 3:00PM | Pretty Girls in High Places
Growing up, I knew girls like Nicole John. They weren't just pretty, they were flames that drew all the guys. They were also a human tornado of mental and emotional issues. Using their feminine charms and looks, they left path of destruction littered with... |
| 2:24PM | Burst of buying drove up June home prices
Home prices rose in June for a third straight month as now-expired tax credits inspired a burst of home-buying.
Home - United States - Accounting - Tax - Conferences |
| 2:19PM | 1 click | We can™t critique your home if you™re following us
We can't talk about the home if the owner is following us around. 'Why are they following me'. This is what my clients tell me when I'm showing them a house and the owner is home. The consensus among home buyers is that they would prefer... |
| 2:03PM | 5-story SoHo building for sale
A late 19th century mixed-use building in the heart of SoHo that boasts a cast-iron façade is up for sale. 55 Mercer St., a five-story, 16,600-square-foot property between Broome and Grand streets, is available exclusively through Eastern Consolidated, which is actively marketing the property... |
| 2:02PM | Big NYC landlord dealt second setback
Amanda Fung - Tenants of rent stabilized buildings scored a major victory late Monday. A state Supreme Court judge ruled against Laurence Gluck declaring that the landlord unlawfully deregulated rents at Independence Plaza North, a big downtown Manhattan residential complex, while receiving tax... |
| 12:59PM | 5 Tools to Turbo-Charge Your Social Media
Guest Blogger Alex Cortez is a Realtor in Hawaii, specializing in Maui Condos. Visit his Maui Real Estate Blog for local market information.
The importance of social media in a real estate professional's marketing plan is undeniable. And although there are many different approaches as... |
| 12:47PM | Housing quagmire: Is it time to remove relief?
For the growing number of struggling homeowners in this country, more help is on the way. Additional aid from the federal government will begin making its way to them next month -- one program would help qualified homeowners refinance their mortgages after seeing their... |
| 11:27AM | Home Prices Rose Sharply in June, Helped by Tax Credit
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| 11:27AM | Consumers Mood Improves, But Outlook Remains Gloomy
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| 11:18AM | Home Market: Lot of Looking
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| 11:18AM | New York Rebounds From Slump, Unevenly
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| 9:54AM | Home prices gain 3.6% in past year
Despite a recent spate of bad news coming out of the housing industry, home prices show signs of stabilizing. |
| 6:56AM | 1 click | The day after: How to find an apartment without bed bugs
As of yesterday, NYC landlords must disclose bed bug problems to potential renters, which will make it a lot easier to find a bed-bug-free rental in the Big Apple.
The new law does not apply to co-op and condo buyers.
Nor does it require landlords to... |
| 6:43AM | Can I put recessed lighting in a prewar beamed ceiling?
Q. Is it possible to put recessed lighting into a prewar beamed ceiling, or does the ceiling need to be lowered first?
A. You will likely need to drop at least part of the ceiling, according to our BrickTank experts.
Your prewar beamed ceiling is probably... |
| 6:16AM | The Ultimate NYC Open House Guide for SELLERS (Part 2): You are not welcome here
In the second of our three-part series on best open-house practices, we look at setting the scene and keeping out the riff raff (you, mostly).
The cleaner, the better
By the time of your first open house, we hope that you have already taken steps to... |
| 2:02AM | 1 click | Banks helping more troubled homeowners than Obama
That's the claim made by CNNMoney:Remember how everyone complained that banks weren't doing enough to help troubled borrowers?Well ...Banks have realized that foreclosing on home after home after home may not be in anyone's best interest ” least of all their own. So they've... |
| 1:16AM | Flat note on Carnegie 57
Don't worry, says Extell Development Co. chief Gary Barnett -- it's coming! Even though it doesn't yet look that way.
"It" is Carnegie 57, the endlessly awaited, 74-story super-luxury condo/hotel tower Extell is building on a vast site across from Carnegie Hall,... |
