Housing Woes Leads To Lesser Divorce

January 8, 2009
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The housing market slump has reduced the number of divorce cases forcing couples with high mortgage payments to just live together to save on costs. It may be bizarre but this is one of the few positive things that have come out of the worsening economic crisis. The decreasing rate of home prices as well as selling difficulties is making the already-difficult divorce process more complicated at this time.

While divorcing couples used to fight over home ownership, today’s couples are in fact trying to leave the burden of having to pay for their homes to the other spouse. While no updated divorce records are available, lawyers have confirmed that their…

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Filed Under: Real Estate, Real Estate Crisis

Bank Foregoes January Mortgage Payments Worth $861,513.25

January 8, 2009
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A total of 500 borrowers will have a one month breather from their mortgage payments in January worth $861,513.25 after being chosen by ING Direct among 5,550 homeowners who sent in their entries to the bank’s online essay contest. The bank held an essay writing contest as a Christmas gesture during this season of foreclosures. In exchange, the company and the employees had to forego their Christmas party but no one is complaining.

ING Direct is owned by Dutch financial services giant ING Groep NV. The online essay contest required the homeowners to tell the bank their stories and the most compelling ones were chosen by a committee. However, the more…

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Filed Under: Mortgages

Rumored Haunted House In Stockton Sold For $120,000

January 8, 2009
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A house in 1002 North Pershing Avenue in Stockton, California which has been rumored to be haunted has been sold in April last year for $120,000. The house, which was built in 1925, has passed the hands of several owners since February 19, 2002 when it was sold for $210,00 and then in September 29, 2006 when it was sold at a profit for $360,000 and then in November, 2007 when it was sold for $257, 550. However, barely five months after it was bought, the new owners sold it for less than half of the purchase price.

The neighbors are saying that the house is haunted but a Stockton realtor…

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Filed Under: Haunted Houses

Manhattan Experiencing Housing Market Decline

January 6, 2009
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Manhattan may have enjoyed a thriving expensive housing market even during the start of the real estate slump but it can only hold on for so long. Manhattan, which is known for having the most expensive housing markets, is now bracing for a housing market decline as gleamed from two industry reports.

The dominant housing types in Manhattan are cooperative apartments and condominiums.  The sales for this market amounted to $1.49 million for the fourth quarter of 2008 which is 3.1% higher compared to the same period in 2007.However, a report by the Corcoran Group shows that fourth quarter housing transactions are down by as much 53%.

Miller Samuel Real Estate Appraisers…

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Filed Under: Manhattan Real Estate, Real Estate

Realtors Float Wins in Tournament of Roses Parade

January 6, 2009
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Realtors are making themselves more visible to boost the sagging real estate market not only making sales calls but by joining fairs like the Tournament of Roses Parade where the National Association of Realtors float even won an award for best presentation of color through the use of flowers. Their participation in the parade was in line with the Centennial year celebration which includes the delivery of positive messages about realtors and the housing industry.

With the theme “Celebrating the Dream of Homeownership for 100 Years”, the Realtors group snagged the Isabella Coleman Trophy thanks to the effort of over 10,000 volunteers who decked up the float with all those flowers.…

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Filed Under: Realtors

New Orleans Condo Market On The Rise

January 6, 2009
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While the other markets are experiencing a slump, the New Orleans condominium market is at a surge with the average price in the city up by 7.7% compared to the average condominium prices during the 3rd quarter of 2007. National Association of Realtors data shows that this is the third consecutive quarter that the condominium price is outpacing the 2007 levels.

This may be because there has been no overbuilding in New Orleans’ condominium market compared to other cities like Chicago and Miami. Talbot Realty Group vice president confirmed this and reported strong sales record in the area during summer which was dampened only by hurricanes Ike and Gustav.

Another factor being…

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Filed Under: Condominiums, Real Estate

Real Estate Boom in Dubai Despite World Economic Crisis

January 6, 2009
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The whole world may be facing a worsening economic crisis but Dubai is experiencing a real estate boom thanks to its enviable position as an oil-rich nation. In fact, Dubai’s advantage lie in the fact that the higher the oil prices get, the greater the speed of its growth.

At least $750 billion worth of real estate projects have been noted for Iran, GCC and Iraq areas and an estimated 33% of these developments are in the United Arab Emirates. This is ironic considering that the combined gross domestic product of the region is way below $700 billion which proves how Dubai’s growth can defy traditional standards. Analysts have reported as…

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Filed Under: Real Estate, Real Estate Investment

Hugh Jackman Buys New Condo For $21M

January 5, 2009
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World’s sexiest man Hugh Jackman closed the $21 million deal for the purchase of a triplex loft condo in West Village, Manhattan, measuring 11,032 square feet. Jackman has been negotiating the sale of the five-bedroom condo unit for months and was finally able to clinch it last November, 2008 from Bill Joy, a co founder of Sun Microsystems who reportedly bought the unit for $17.57 million in 2002.

Evidence of the sale which was paid by the Maximilian Eliot Trust of Jackman can be found on a November 25 recorded deed.  The condo unit, which is located on the building’s 8th, 9th and 10th floors, has three rooms measuring 51 feet…

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Filed Under: Celebrity Real Estate, Real Estate

Celebrity Couple Bruce Jenner Sells Home For $3.395M

January 5, 2009
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Celebrity couple Bruce Jenner (Olympian decathlete) and socialite Kris Jenner (nee Kardeshian) are selling their four-bedroom California home for $3.395 million. The house, which measures 3,966 square feet, is located in Hidden Hills, a choice location for celebrities. If you want Hollywood history then the fact that the reality TV show “Keeping Up with the Kardashians” was filmed here would be added motivation to grab this real estate.

The Kardashians have become infamous not thanks to daughter Kim’s sex tape controversy but that can well add to the home’s shock and celebrity value. The one-story house which was built in 1964 boasts of a kitchen made of marble and granite with…

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Filed Under: Celebrity Real Estate, Real Estate
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