real estate

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Old Capone Hideout for Sale
 Old Capone Hideout for Sale 
Sep 9, 2009 2:14 PM CDT

Old Capone Hideout for Sale

$2.6M gets you 407 acres and nostalgia in Wisconsin

(Newser) - For a minimum bid of $2.6 million, a remote 407-acre Wisconsin lodge where Al Capone stayed while on the lam can be yours, the Chicago Tribune reports. “Al Capone's hideout retreat,” proclaims an ad run in that paper by a small Wisconsin bank that had the luck...

Inside the Madoff Homes
 Inside the Madoff Homes 
Slideshow
Sep 9, 2009 8:13 AM CDT

Inside the Madoff Homes

The government prepares to auction off the Ponzi penthouse

(Newser) - America’s most luxurious crime scene is for sale. The US Marshals Service will auction off Bernie Madoff’s 4,000-square-foot Manhattan penthouse duplex this week, and it gave AP photographers a look inside the premises, which Madoff valued at $7 million. For photos of the swank pad, along with...

China May Invest in Bargain US Real Estate

Sovereign-wealth fund to ramp up spending after quiet 2008

(Newser) - China’s sovereign-wealth fund has its eyes on US real estate, the Wall Street Journal reports. China Investment Corp. laid low throughout 2008 as the global economy teetered but is now opening its coffers. And depressed US commercial property values—off 35% from their peak—coupled with cheap government financing,...

Madoff's $8.75M Beach House Not All That

Marshals Service puts property up for sale

(Newser) - Those who see Bernard Madoff as an evil purveyor of excess might be disappointed by his beach house: It's not that palatial. At 3,014 square feet, the home is cottage-size by super-rich standards. There's no garage. Not even a walk-in closet. But the 1.2-acre lot sits closer to...

How to Spend Your $333M Mega Jackpot

Lottery pot now tops $333M

(Newser) - With the Mega Millions jackpot at $333 million, ABC News investigates the best ways to spend it:
  • A new pad: "I would think they'd want to own a truly extraordinary home," says a real-estate agent. How about 3 townhouses in Greenwich Village, at just $16 million a pop?
...

Churches Put Faith in Housing Biz
Churches
Put Faith
in Housing Biz
Aug 8, 2009 10:39 AM CDT

Churches Put Faith in Housing Biz

More launch own programs to provide affordable homes

(Newser) - Churches that have long called for an increase in affordable housing have started taking matters into their own hands, the Washington Post reports: A growing number of them have launched their own housing projects, partnering with developers to build whole communities. Their weekly flow of donations allows them to qualify...

As Slump Eases, High-End Homes Linger on Market

(Newser) - It’s a tale of two housing markets out there. While low and mid-priced homes are enjoying a resurgence, high-priced residences are languishing unsold, their prices falling rapidly, the Wall Street Journal reports. “We’re extremely oversupplied,” says a real estate agent in an affluent Illinois town, where...

Looking to Buy a Condo? Act Now

What's bad for luxury developers is good for buyers

(Newser) - Standing tall in some of the most moneyed neighborhoods in America, condos once symbolized a seemingly bottomless housing boom. Now that the housing market has cratered, the luxury real estate sector is providing would-be buyers with the biggest opportunities, Forbes says. Lake Tahoe, Calif., Key Biscayne, Fl., and New York’...

Home Sales Take Biggest Jump in 8 Years

(Newser) - New home sales jumped 11% in June, the biggest gain in eight years, the Commerce Department announced today, as the supply fell to its lowest level in more than a decade. With mortgage rates and prices staggeringly low—the median home price fell 12%—buyers came out of the woodwork....

Judge Quashes Trump's Suit Against Author

The Donald took issue with being called mere multi-millionaire

(Newser) - Donald Trump will have to live with being regarded as somewhat less astronomically wealthy, the Philadelphia Inquirer reports, after a judge today dismissed his defamation suit against Timothy O’Brien, author of TrumpNation. O’Brien estimated that Trump is worth $150-$250 million; Trump says he’s worth billions, and claimed...

Best Small Towns in America
 Best Small Towns in America 
Jul 13, 2009 1:35 PM CDT

Best Small Towns in America

(Newser) - Looking for a nice place to move to? CNN has compiled a list of the 100 best small towns to live in, based on what poll respondents said they wanted in a town. Unsurprisingly, the local economy is the No. 1 criterion, but crime rates, affordable housing, schools, and how...

Recession Puts Brakes on Divorces
Recession
Puts Brakes
on Divorces
Jul 13, 2009 12:04 PM CDT

Recession Puts Brakes on Divorces

Would-be exes stay under one roof to avoid real estate losses

(Newser) - A lot of unhappy couples are staying together—or at least staying under one roof—thanks to the recession, the Wall Street Journal reports. Many would-be exes are putting off breakups, unwilling to sell their houses in a down market or unable to afford new ones. Some even continue to...

Brangelina Shop NYC Digs
 Brangelina Shop NYC Digs 
Jul 12, 2009 11:27 AM CDT

Brangelina Shop NYC Digs

Hollywood royalty looking to spend $25M for Upper West Side condo

(Newser) - Tired of renting when in the Big Apple, Brad Pitt and Angelina Jolie just want a place of their own, the New York Daily News reports. The power duo has been quietly checking out the Apthorp, a historic Upper West Side landmark, and is ready to spend as much as...

Congress Weighs Wider Home Tax Credit

$8K for first-time buyers may jump to $15K, apply to all sales

(Newser) - With the tax credit for first-time homebuyers set to expire in November, congressional efforts to increase it and broaden its reach are ramping up, reports USA Today. Chris Dodd, who leads the Senate Banking Committee, supports a proposal to raise the credit to $15,000 and extend it to all...

Hamptons Grim, But Not Dead
 Hamptons Grim, But Not Dead 
GLOSSIES
Jun 9, 2009 3:57 PM CDT

Hamptons Grim, But Not Dead

(Newser) - The Hamptons are not a happy place these days, Michael Shnayerson writes in a Vanity Fair piece detailing fortunes destroyed, plans dashed, homes selling for bargain basement prices. The stink of the financial crisis in general, and Bernard Madoff especially, has descended on the oceanfront playground of New York’s...

Starbucks Looks to Cut Back on Rent
Starbucks
Looks to Cut Back on Rent
May 29, 2009 2:42 PM CDT

Starbucks Looks to Cut Back on Rent

Coffee chain presses landlords for 20%-25% reductions

(Newser) - Starbucks is asking some of its landlords for a venti favor: lower lease rates by as much as 25%, Bloomberg reports. With the real-estate market in decline, a rep says, “We’re taking advantage of the opportunity,” adding that most landlords foresee a “mutually beneficial situation.”...

'Bueller? Bueller?' Film House Hits Market

(Newser) - The Chicago-area house immortalized in a glass-breaking, Ferrari-plunging shot from Ferris Bueller’s Day Off is for sale, the Arlington Heights Daily Herald reports. “It’s spectacular inside,” said the realtor offering the glass-walled modern home at $2.3 million. “It’s like living in a tree...

Realtors Sue CSI Over Kinky Portrayal

Real estate agents allege producer defamed them in episode

(Newser) - Scott and Melinda Tamkin are your average married real estate agents. Unless you watch CSI, in which they are conniving, kinky-sex-loving real estate agents. The couple is suing the producer of a February episode they say is based on a warped version of them, the Los Angeles Times reports. The...

Investors Storm Housing Market

Aim to take advantage of current low prices

(Newser) - Investors are snatching up cheap houses, hoping to turn a profit when the market picks up, the Wall Street Journal reports. Some are foraging far and wide for potential purchases; others are locals who know the ins and outs of the area market. Investors often make all-cash offers, helping them...

Lehman Weighs Spinning Off $45B in Assets

In the most sweeping bankruptcy action yet, assets will become separate unit

(Newser) - Bankrupt Lehman Brothers is preparing to spin off a grab-bag of assets worth $45 billion in their current state but as much as $400 billion at "nondistressed" prices, the Wall Street Journal reports. The planned sale of shares in the unit—the biggest move yet to unwind the...

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