real estate

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11.1M Households Underwater
 11.1M Households Underwater 
Mar 9, 2011 7:17 AM CST

11.1M Households Underwater

Number jumps to 23.1% at end of 2010, more likely on way

(Newser) - Just when it looked like the housing market might be treading water, more American homes slipped underwater at the end of 2010, reports the AP. Now 23.1% of all mortgages, or 11.1 million, outweigh the value of the house they secure—up from 22.5% in the previous...

Meet MERS: Another Real Estate Time Bomb?

The corporation says it holds title to 50% of America's home mortgages

(Newser) - If you thought America's real estate mess couldn't get any messier, brace yourself—and meet the MERS corporation. If you haven't heard of it, you're not alone. The obscure business, housed in Reston, Va., employs fewer than 50 full-time workers ... and claims to hold title to about 50% of the...

Homeowner Forecloses on Bank Office

Philly man wins levy after bank fails to answer questions as required by law

(Newser) - A Philadelphia homeowner is giving his local branch of Wells Fargo a taste of its own medicine. Concert promoter David Rodgers, embroiled in a dispute with the bank over required homeowner insurance, sued Wells under the Real Estate Settlement Procedures Act when the bank refused to answer his questions as...

California to Dole Out $2B in Homeowner Help

...If banks will get on board

(Newser) - California has launched a $2 billion program designed to help struggling homeowners keep their houses. The program will be paid for by federal funds originally intended to help rescue the financial system in 2008, the LA Times reports, and could prevent some 95,000 foreclosures—if the state can get...

11% of US Homes Vacant
 11% of US Homes Vacant 


Feb 2, 2011 2:40 AM CST

11% of US Homes Vacant

Prices set to fall even further

(Newser) - The latest census figures on the housing market make for grim reading for homeowners. Some 18.4 million homes are vacant—11% of the nation's housing supply—and home ownership rates are dropping rapidly, CNBC reports. Prices are down year-over-year in all 28 major metropolitan areas tracked by the Wall ...

Housing Market Headed for Double Dip

Declines could hurt broader recovery

(Newser) - The housing market is cratering again, dousing the optimism that pervaded earlier this year. Prices fell for the third straight month in October, according to the S&P/Case Shiller index released yesterday, and economists expect them to keep dropping through early spring, wiping out any progress made since the market’...

For Many in Beijing, Home Is Deep Underground

Cellars and even bomb shelters are turned into low-cost housing

(Newser) - With real estate prices soaring in Beijing, millions can't afford an apartment ... and more and more people are being forced underground, into makeshift apartments in cellars and even bomb shelters, reports Der Spiegel . Few of these accommodations have kitchens or emergency exits, and they are often illegal, but they are...

Arizona's Newest Resident: Bristol Palin

She pays cash for 5-bedroom foreclosure, no pool

(Newser) - Maybe Sarah Palin's Alaska is getting a tad too brisk this December, because Bristol Palin is taking her dancing shoes and heading to snowbird central, reports the Arizona Republic. The ex-governor's eldest daughter has bought a 5-bedroom house in Maricopa, plunking down $172,000 in cash. The house mirrors the...

For Sale: Unabomber's Lair
 For Sale: Unabomber's Lair 
A STEAL AT $69K!
Dec 5, 2010 10:31 AM CST

For Sale: Unabomber's Lair

Ted Kaczynski's 'very secluded' land on the market

(Newser) - Maybe you need a getaway. Like, say, to the desolate place where a maybe-deranged guy assembled bombs he mailed out all over the country? If this sounds like you, luck has it that the Montana land where Unabomber Ted Kaczynski lived is up for sale—a chance for you to...

Buy the 'World's Smallest Apartment' for $68K

Rome 'wigwam' can barely hold a bed

(Newser) - For all of you who have joked about living in a closet ... well, you ain't seen nothing yet. A Rome "compact bedsit" that's being described as the world's smallest apartment has hit the market. Asking price for the 55-square-feet of heaven: $68,000. One report called the former porter's...

Foreclosure Scandal Messing Up Home Sales
Foreclosure Scandal Messing Up Home Sales
UPDATED
Oct 8, 2010 9:41 AM CDT

Foreclosure Scandal Messing Up Home Sales

Thousands of sales thrown into limbo

(Newser) - Hundreds of thousands of foreclosures have been thrown into limbo in the wake of revelations that major lenders didn’t properly review the foreclosure documents, creating a big mess for people trying to buy those homes, the New York Times reports. JPMorgan and GMAC have suspended foreclosures in the 23...

Renter Won't Give Up Rahm's Chicago Home

Rob Halpin won't even allow Emanuel to crash in the basement

(Newser) - As White House chief of staff, Rahm Emanuel is one powerful hombre—but he’s apparently powerless in the face of Rob Halpin, the guy renting his house in Chicago. Halpin re-signed the lease to the place on Sept. 1—just six days before Mayor Richard Daley announced he would...

Home Prices Up 3.2% Over July 2009
 Home Prices Up 3.2% 
 Over July 2009 

but downturn looms
Sep 28, 2010 8:47 AM CDT

Home Prices Up 3.2% Over July 2009

July numbers up .6% from June, but demand weakening

(Newser) - Home prices rose in July for the fourth straight month, but many cities are bracing for declines in the year ahead. The Standard & Poor's/Case-Shiller 20-city home price index increased 0.6% in July from June and 3.2% from a year ago. Twelve cities showed monthly price gains. However,...

10 Reasons to Buy a House
 10 Reasons to Buy a House 
Sep 19, 2010 6:35 AM CDT

10 Reasons to Buy a House

Housing market gloom is over-hyped

(Newser) - Has the housing crisis scared you out of the market? Too bad, because there are still many good reasons to buy, writes Brett Arends in the Wall Street Journal . A few points to consider before hopping on the first train to rents-ville:
  • You could get a deal: Prices are down—
...

Home Repos Hit Recession High

US on track for 1M foreclosures this year

(Newser) - Lenders took back more homes in August than any month since the start of the US mortgage crisis. The increase in home repossessions came even as the number of properties entering the foreclosure process slowed for the seventh month in a row, RealtyTrac said today. In all, banks repossessed 95,...

World's Most Expensive Home Sells For...

...a whopping $305 million, according to reports

(Newser) - Perhaps you thought Brad Pitt and Angelina Jolie’s recent $40 million mansion purchase was a bit extravagant. Well, it was nothing compared to this: The world’s most expensive home just sold for $305 million, according to the New York Post , which cites a report in the London Times....

20 Worst Places to Sell Your House

Hint: California and Florida show up a lot

(Newser) - It's a rough time in general to sell your home, but some places are (far) worse than others. Richard Florida rounds up the 20 worst for the Daily Beast , with nine of the regions in California and six in Florida. Here are the top 5:
  1. Riverside-San Bernardino-Ontario, Calif: One of
...

Hands Off, Obama: Let Housing Prices Fall
Hands Off, Obama:
Let Housing Prices Fall
opinion
Aug 28, 2010 1:07 PM CDT

Hands Off, Obama: Let Housing Prices Fall

False incentives will hurt us in the long run

(Newser) - In case you missed it, be advised that home sales have fallen off a cliff. This week's grim numbers will no doubt raise the call for the Obama administration to reach into its bag of tricks (bring back that tax credit, maybe?) to encourage people to buy and thus keep...

After 17 Years on Market, Mega-Mansion Sells

Tyler Perry paid $7.6M for place he's going to tear down

(Newser) - Celebs plunk down millions on mansions every day, but Tyler Perry's new acquisition is somewhat more storied. The scribe bought Atlanta's Dean Gardens, which cost $25 million to build, features 58 acres, a golf course, wedding chapel, and what the New York Times calls an almost universally mocked "collision...

Christie Brinkley Hawking Hamptons House for $15.75M

(Newser) - And you thought she was just a pretty face. Ex-supermodel Christie Brinkley is offering for sale one of her several Hamptons homes—for the low, low price of $15.75 million. Located in North Haven, NY, near Sag Harbor, it was built in 1843 and features 5500 square feet, 4....

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