real estate

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Coney Island's Astroland to Shut Down

Owner of legendary amusement park can't strike deal on lease

(Newser) - The iconic Astroland, one of two theme parks on New York’s Coney Island, will close for good on Sunday, the New York Post reports. Owner Carol Albert said she couldn't strike a lease deal with the 46-year-old site's developer and landlord. The park’s historic (and bruising) Cyclone rollercoaster...

Forget Renting: Friends Now Buying Homes Together

Bargain housing prices lure young professionals looking to invest

(Newser) - The cooled-down housing market and lower prices are attracting new buyers: groups of young professionals who want to invest but don’t quite have the dough to buy their own place. Instead, they’re buying homes with friends and splitting the mortgage, maintenance costs—and the tax break, Time reports....

Phelps Lands Book Deal, Condo, Girl

(Newser) - Michael Phelps hasn't exactly rested since his eighth medal triumph Saturday night: The swimming sensation not only signed a $1-million deal to pen a behind-the-scenes book on his training regimen and bought a $1.7 million Baltimore condo, he was caught in a steamy make-out session with Australian swimmer Stephanie...

McCain Can't Quite Say How Many Houses He Owns

Also nixes one-term idea in interview

(Newser) - John McCain isn’t quite sure how many houses he owns, Politico reports. The presumptive Republican nominee responded to the question in yesterday’s interview with “I think—I’ll have my staff get to you.” He and wife Cindy are estimated to own between four and seven...

LA Gets the Luxury Condo Bug
 LA Gets the Luxury Condo Bug
Aug 21, 2008 9:38 AM CDT

LA Gets the Luxury Condo Bug

City's vertical trend extends to rich

(Newser) - LA’s multi-millionaires are downsizing. While the wealth and fame in the City of Angels has traditionally expressed itself in estates, preferably gated, now a steady stream of the very-well-heeled are trading in their mansions for high-rise luxury condos, the New York Times reports. “People are ready to live...

Stockholm Apartment for Sale, Stepdad Included

(Newser) - A beautiful apartment for sale in Stockholm comes complete with a balcony that overlooks one of the city's trendiest districts—and the current owner's ornery stepfather. The man is defying a court order by refusing to move out, but that's not stopping his stepdaughter from selling the residence, reports The ...

Chicago Transit Explores Groceries in Train Stations

Agency hopes to reap $100M over 5 years with new developments

(Newser) - The Chicago Transit Authority is looking make more money from the real estate it owns, and is investigating installing grocery stores and restaurants inside “L” (elevated train) stations, the Tribune reports—with the agency hoping to generate $100 million over the next 5 years from such commercial development. "...

Trump Sells Mansion for $100M
 Trump Sells Mansion for $100M 
Jul 17, 2008 10:08 AM CDT

Trump Sells Mansion for $100M

US real estate record for the Donald's Palm Beach estate

(Newser) - The real estate market may be slumping, but not for Donald Trump, who sold his Palm Beach mansion to a Russian fertilizer billionaire for $100 million, the AP reports. It's the most ever paid for a US estate, a spokesman claims. "In an age of so many people getting...

New Yorkers Bolt for Warmer, Cheaper Atlanta

The city's cheap housing and warm climate attracts northerners

(Newser) - New Yorkers are flocking to the southern climes and cheaper housing of Atlanta, but encountering a range of culture shocks, the New York Sun reports. About 40,000 yanks moved to Atlanta between 2000 and 2005, drawn partly by a booming job market, and now some wonder how to move...

Wall Street's Wealthy Can't Nab Apartments

With 7-figure bonuses in jeopardy, the rich lack buying power

(Newser) - Manhattan’s most rabid real estate buyers are finding that a million-dollar bonus doesn't cut it anymore, the New York Times reports. With markets in turmoil, Wall Street bankers' staggering bonuses are in jeopardy, and apartment sellers are taking note. “They’re looking for people who have stable incomes...

Can't Buy Me Love, but Divorce Could Cost $100K

Paperwork's cheap, but hiring lawyers, dividing real estate, finding therapy adds up

(Newser) - In the current financial climate, getting unhitched has become all the more ruinous, Divorce360.com reports. Selling your home, hiring attorneys, shelling out for therapy, and finding temporary housing add up to a burly bottom line, with one attorney estimating that divorce "can run anywhere from $1,820 (uncontested)...

Retirees Scoop Up Bargains in Housing Slump

Sunbelt home prices plunge 25%

(Newser) - Retired Americans who can afford new bargains are enjoying the drop in housing value in once-exorbitant sun havens where prices have plunged as much as 25%. Miami, Phoenix and Las Vegas—formerly at the forefront of soaring prices—are now leading the decline, the New York Times reports. Homebuyers who...

Proposed Philly Mega-Skyscraper Rivals US' Best

1,500-ft. tower would top Sears; Chicago, New York plan taller

(Newser) - Philadelphia took a step toward entering America's mega-skyscraper club today, the Daily News reports, with a city councilman introducing zoning legislation for a building that, at 1,500 feet, would eclipse Chicago's Sears Tower. Plenty of bureaucratic hurdles remain for the proposed American Commerce Center, including retooling the city's planning...

Stealing Home: Five Signs It's Time to Lowball

Forget the market and climb inside the seller's head

(Newser) - It's not always the economy, stupid. Even in a weak market, buyers should consider a homeowner's situation before hurling a lowball bid, writes Daniel McGinn in Newsweek. One real estate broker offers five sure signs that a seller is ready to deal:
  1. Nobody's home. Sellers who have moved on, or
...

Foreclosures Surge 48% in May
 Foreclosures Surge 48% in May 
Jun 13, 2008 9:35 AM CDT

Foreclosures Surge 48% in May

It's the second straight monthly record

(Newser) - The number of US homeowners swept up in the housing crisis rose further last month, with foreclosure filings up 48% over a year earlier. Nationwide, 261,255 homes received at least one foreclosure-related filing in May, up 7%  from April and the second straight monthly record. That's one in every...

Spitzer Moves On to Dad's Real Estate Firm

Disgraced governor pitches vulture fund for distressed properties

(Newser) - Having laid low for two months after exiting in disgrace from the New York governorship, Eliot Spitzer is back in business. He’s recently been shopping a plan to start a vulture fund that would flip distressed real estate assets, the New York Sun reports. Spitzer gathered labor union officials...

Best Place to Live? Charlotte
 Best Place to Live? Charlotte 
May 15, 2008 2:06 PM CDT

Best Place to Live? Charlotte

Carolina on the mind of poll for 2nd consecutive year

(Newser) - Charlotte is the best place to live in America, thanks to an affordable array of housing options and a healthy economy, says Relocate.com’s annual list. MarketWatch runs down the rest of the list:
  1. San Antonio, Texas
  2. Chattanooga, Tenn.
  3. Greenville, SC
  4. Tulsa, Okla.

March Foreclosures Up 57% Over Last Year; Worst Coming

February gains evaporate

(Newser) - Bank repossessions skyrocketed 129% over the 12-month period ending in March, and foreclosure filings rose 57% over the previous year, RealtyTrac announced today. March foreclosure notices rose 5%, after a 4% decline in February. All this “is ongoing fallout from people overextending themselves and using highly toxic loan products,...

Recession Zings Top Law Firms
 Recession Zings Top Law Firms 
Apr 14, 2008 3:10 AM CDT

Recession Zings Top Law Firms

Associates laid off, programs cut

(Newser) - The recession has begun to nip at the heels of New York's big law firms, reports the Wall Street Journal. Some firms are beginning to lay off associates, rescind offers to those coming out of law school, and scale back summer associate programs. It's all due to a slowdown in...

Slump Stings Vegas McMansion Owners

Curious aspect of swelling home inventories: unsold palaces

(Newser) - The housing crisis has caused the number of homes for sale across the country to grow, but in Las Vegas, brokers are dealing with an unusual aspect of swelling inventory—an excess of $1 million-plus listings. Although they're luxury properties with pools and excesses of polished marble, those constructed more...

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