U.S. Home Values Continue to Decline
The housing market remains in the rut. The S&P/Case-Shiller 20-city index through November showed home values fell 3.7 percent from the previous year. The 20-city home price index dropped slightly more than the 3.3 percent economists surveyed by Bloomberg had expected, weighed down by… Read More »
EmailEconomists: Housing Rebound a Year Away
The three-year decline in U.S. home values won’t abate for at least another year, according to a national survey of more than 100 economists, real estate experts and investment strategists. Prices are forecast to continue to decline until the market’s bottom is reached in late… Read More »
Free Botox, Circus Acts Lure Buyers at Open Houses for Million-Dollar Listings
In this tough real estate market, even in Beverly Hills, Calif., the home of the super-rich, the phrase “location, location, location” just isn’t enough when it comes to making a sale. So real estate agents are pulling out all the stops to sell their multimillion-dollar listings,… Read More »
‘Flip Men’ Stars Talk Reality of Fixing Up Foreclosures
Salt Lake City-based real estate investors Mike Baird and Doug Clark make their money in this topsy-turvy housing market by flipping foreclosers. They’re so successful at it — the duo says they have sold 1,000 flipped homes and counting — that they have their own… Read More »
Housing Prices Fell 3.9 Percent in 2011, Back to 2003 Levels
Home prices showed little change in the third quarter nationally, edging up 0.1 percent from the prior period, according to the S&P/Case-Shiller U.S. National Home Price Index. Overall, home prices are back to their first quarter of 2003 levels. Economists expected little change in the… Read More »
Real Estate Mogul Charged With Shoplifting
A top executive at a high-profile Chicago real estate firm is accused of shoplifting three designer neckties from Bloomingdale’s on Black Friday. Michael J. Sato, 44, was charged with retail theft for allegedly stealing three Burberry ties from the Michigan Avenue department store. The ties… Read More »
Bankrupt Crystal Cathedral Sold to Catholics for $57M
Bankrupt megachurch Crystal Cathedral in Garden Grove, Calif. is changing faith traditions. The Roman Catholic Dioceses of Orange is purchasing the church’s 40-acre property with its towering glass building for $57.5 million in a deal approved by a bankruptcy court judge Thursday. The megachurch, founded… Read More »
Home Values Are Stabilizing, Zillow Reports
Home values are flat and appear to be stabilizing, according to real estate website, Zillow, which was better than expected considering a high level of unemployment, negative equity and fragile consumer confidence. The company reported U.S. home values fell 0.2 percent in the third quarter…. Read More »
Age Gap Rises in Economic Well-Being
The rich aren’t just getting richer, but wealthy older Americans are noticeably better-off than their counterparts from three decades ago in several areas like income, employment, home ownership and housing values. It may be no surprise that older Americans are wealthier than younger ones…. Read More »
US Home Prices Edge Up in ‘Glimmer of Hope’
Home prices across the country ticked up slightly in August, S&P/Case-Shiller reported today. But prices were still down compared with August 2010, highlighting the tough road to recovery for home prices, which have declined by a third since their peak in 2006. The widely-used measure of U.S…. Read More »
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