Washington Suburb On The Road To Real Estate Recovery

February 4, 2009
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There’s a silver lining behind the dark real estate clouds and Prince George’s County in Maryland is among the first one to see that hope.  The real estate market of this Washington suburbia is on its way to recovery. This means a slow climb out of the foreclosure mess which has ravaged many real estate markets in the country. It has in fact emerged as one of the hot markets in the region based on pending sales statistics. Prince George has a 4% unemployment rate and is enjoying an increase in job opportunities thanks to the various commercial development projects in the Potomac River as well as the 2,200 additional…

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Filed Under: Economy Crisis, Real Estate Investment

Investing In Self-Storage Facilities

February 4, 2009
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The real estate industry may be at a standstill but there are thriving sectors you can consider for investment purposes.  Self-storage facilities aimed at small scale businesses may not be highly glamorous but is one of the safest real estate industry niche. There are over 52,000 self-storage facilities all over the country that are raking in up to $20 billion annually sales wise. The Self Storage Association confirmed that this business is thriving because people always need someplace to keep their stuff.

The thousands of self-storage facilities nationwide are generating positive cash flow despite the economic downturn and the 30% vacancy rates. This is an ideal area for small scale investors…

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Filed Under: Real Estate Investment

Care For Federal Architecture?

February 4, 2009
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If you want to go back several years back for your architectural design then the Federal architecture popularized between 1780 and 1830 will be a good choice especially if you thrive on Roman classicism. Thanks to Robert Adam who owned one of Britain’s largest architectural firms, the classic Roman Empire can be seen even in the United States. The classic Renaissance architecture can be seen through geometric shapes like circle, ovals and hexagons as well as in decoratives like urns and garlands. A Federal style house with a front façade speaks of wealth with tall and slender columns, simple doors with grand ornamentations, iron railings and symmetrically-aligned windows.

For a good…

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Filed Under: Real Estate

Is Illinois Gov’s home for sale?

February 3, 2009
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Illinois Governor Rod Blagojevich has become some kind of a celebrity thanks, or not thanks to his illegal entanglements which cost him position but gained him some kind of notoriety. He is so infamous that even his house has become the target of real estate rumor mongers who are still debating whether Blagojevich is selling his house. The rumors came after ABC 7 in Chicago featured a story on the governor’s home plan. It was purely speculation as to how much his home would fetch in case he decides to sell it.  This prompted Zestimate to place his 2934 W Sunnyside Avenue Chicago home at around $963,000.

The problem started when…

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Filed Under: Celebrity Real Estate

Tears For Fears Frontman’s Hollywood Hills Property Up For Grabs

February 3, 2009
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Roland Orzabal, popularly known for being the frontman of long-standing band Tears for Fears, has placed his Hollywood Hills property in Los Angeles for sale. Orzabal is just one among the many celebrities who have placed their properties in the real estate market for one reason or another, mostly due to the economic crunch. Orzabal’s 4,266-square foot house was originally up for lease for $15,900 per month. However, it seems he has decided to finally get rid of the property for good.

The 48-year old house has quite a history behind it having been built in 1960. There is however confusion as to how many rooms this house possesses because listing…

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Filed Under: Celebrity Real Estate

Singer Daniel Powter Sells LA Brentwood Property

February 3, 2009
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Another artist is placing his house in the market. Singer Daniel Powter is selling his 2,659-square-foot house in the Los Angeles Brentwood area for $2.295 million. It was listed in the market on January 16. Powter is obviously not up to make profit as records show that he bought the house for $2.3 million in April 2006

Though built in 1951, Powter’s house is contemporary in style with architectural details that speak of modern-day living.  Surely, you’ll get your money’s worth for a modern house of light-filled rooms, French doors, hardwood floors, a dual fireplace in the family room/living room, a gourmet kitchen with a breakfast area, a master suite with…

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Filed Under: Celebrity Real Estate

Court Gives Slash Go Signal To Sue Brokers

February 2, 2009
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The former Guns N’ Roses guitarist Rocker Slash has been given the go signal to sue Sotherby’s International Realty and agent Gregoy Holcomb for allegedly deceiving him and his wife Perla of the actual size of  their former 5,539-square-foot house in  Los Angeles Hollywood Hills. The couple also claimed that the brokers failed to make it clear to them that the house is on a public street where parking is restricted.

The realtor sold Slash the Spanish-style mansion on the 1.76-acre, L-shaped property at 1924 Wattles Drive in the Hollywood Hills in December 2005 for $6,250,000.  Slash and Perla lost a substantial amount of money when they sold the property to…

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Filed Under: Celebrity Real Estate, Realtors

Austin Still Attractive To Foreign Real Estate Investors

February 2, 2009
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The year 2009 was a good one Austin as a preferred destination of foreign investors who are looking for viable investment opportunities in the United States. Latest survey conducted by the Association of Foreign Investors in Real Estate showed that Austin ranked 11th in the new survey of cities in the U.S. that foreign investors have found attractive to pour their investments in even during these times.

Conducted in the 4th quarter of 2008, the survey could be considered as reliable and worthy of our high hopes for a still dynamic real estate business in the U.S. because its respondents were Association members who have a considerable $1 trillion worth of real…

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Filed Under: Real Estate Investment

Kobra Properties Files Bankruptcy; Abandons 16 Properties

February 2, 2009
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The economic meltdown which has driven financing rates at a skyrocketing rate has indeed taken its toll on real estate commercial properties. Kobra Properties has succumbed to such economic pinch and it has decided to let go of its 16 most troubled assets and filed for bankruptcy.

Kobra Properties founder and President Abe Alizadeh thinks its no use holding on to the 238-acre problematic properties of Kobra out of its 900-acre real estate portfolio especially if the company wants to ride out of its bankruptcy declaration and continue to become a more viable property developer. Planned to be abandoned are mostly unfinished office, retail and restaurant projects— assets which Alizadeh looks at as…

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Filed Under: Economy Crisis, Real Estate Crisis
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