real estate news stories on Newser

$90M+ Manhattan Penthouse Sets Record

Rob Quinn — Fri, 18 May 2012 04:22:05 CDT

A mystery buyer has smashed a New York City record by shelling out more than $90 million for a duplex penthouse, reports the New York Times . The 10,923-square-foot property—with 23-foot ceilings—occupies the 89th and 90th floors of One57, a midtown residential building that is still under construction....

Foreclosures Inch Downward ... a Whole 0.1%

Kevin Spak — Thu, 17 May 2012 11:06:01 CDT

Banks initiated the fewest number of foreclosures since 2007 last quarter, according to new figures from the Mortgage Bankers Associations. But don't be too quick to don the rose-colored glasses: The number of loans in foreclosure remains stubbornly high at 4.4%—down only a hair from last year's 4....

Lizzie Borden's House Up for Sale

Dustin Lushing — Wed, 25 Apr 2012 16:20:05 CDT

The house where Lizzie Borden spent her life after her sensational trial is up for sale. Located in Fall River, Massachusetts, the Queen Anne Victorian dubbed Maplecroft is on the market for $650,000, reports the local Herald News . Lizzie lived in another house in the same town in 1892...

Hong Kongers' Problem: No Place to Have Sex

Kate Schwartz — Mon, 16 Apr 2012 13:50:05 CDT

Hong Kongers have a sex problem, reports the AFP : They're apparently not having much of it, and one theory as to why may surprise you. Real estate prices. That's right, "One of the reasons is they have no place to have sex," explains a professor who helps head up the...

Singapore Drops Incentives to Lure Rich Foreigners

Dustin Lushing — Wed, 04 Apr 2012 19:00:13 CDT

Sorry, rich folks. Singapore apparently has enough millionaires for now and is no longer holding the door open quite so widely to attract more from other countries. The nation is scrapping a program that allowed wealthy foreigners to get fast-track permanent residency provided they kept enough money in Singaporean banks...

Up for Auction: America's Smallest Town

Kevin Spak — Wed, 04 Apr 2012 13:02:20 CDT

Got $100,000 lying around? You could buy a very small house in a decent suburb, or you could place the opening bid in the upcoming auction for Buford, Wyoming. The 10-acre town currently contains a post office, gas station, trading post, and exactly one resident. Tomorrow, that resident, Don...

NYC Buyers Win Apartments With ... Love Letters

Evann Gastaldo — Tue, 27 Mar 2012 12:41:05 CDT

How to snag a coveted New York City apartment? Increasingly, brokers are recommending an unconventional tactic: love letters. The letters are sent along with the offer, and they should include such heartwarming details as the story of how a couple met (just two blocks away, while walking their dogs!),...

Facing Foreclosure? BofA to Let You Rent Your Home

Kevin Spak — Fri, 23 Mar 2012 12:11:05 CDT

Falling behind on your Bank of America mortgage? Well, what would you say if the bank offered to take your house, but let you rent it for a while? That's the idea behind a new "Mortgage to Lease" pilot program that BofA is rolling out in select markets in Arizona,...

Wall Street May Soon Be Your Landlord

Mark Russell — Mon, 19 Mar 2012 07:02:11 CDT

Wall Street firms may soon have a new gig: landlord. A number of them are looking into getting directly involved in real estate, buying up foreclosed properties from Fannie Mae in bulk, reports the Wall Street Journal . They couldn't then flip the houses—per the deal, they would rent out...