Real Estate News

How to find bargain properties
By Michael Laurence
August 4, 2009

Does the possibility of buying a four bedroom, two bathroom house at a 64% discount appeal to you? It's hard to get price-cutting much better than this.

The four-bedroom home in excellent condition and sitting on 3.3 hectares first came onto the market in October last year with an asking price of $3.3 million. It is now selling for $1.19 million with the mortgagee in possession.

Suburban industrial portfolio sells for $21.2 million
By Andrew Schroedter
Crain's Chicago Business
August 28, 2009

A Boston pension advisory firm paid $21.2 million for a five-building industrial portfolio in the western suburbs, a sign that the moribund investment sales market might be improving.

Homes for sale: $1
By Teri Cettina
Bankrate.com
January 11, 2007

Even as the formerly roaring real estate market quiets, housing prices are still up in the stratosphere in many areas of the country. Despite that, there are still unbelievable bargains waiting to be found. How about a brick Greek revival in La Grange, Mo., with a scenic view of the Mississippi River for $25,000? Or a four-bedroom home in Nashville for $84,950?

Historic neighborhood flaunts homes for $1
By NBC
August 25, 2009

(NBC) - As one of St. Paul's most historic neighborhoods, Dayton's Bluff is part of the fabric of the city, but today many houses there stand vacant.

"We are not immune to a nationwide crisis that's occurring," says city council member Kathy Lantry.

St. Paul has 2,000 vacant homes and city officials say a tough problem requires creative solutions.

In an effort to fight foreclosure, the town is getting into the business of residential real estate, starting with Dayton's Bluff.

New-home sales hit 10-month high
Inventories fall to lowest level in 16 years.
By Elizabeth Strott
Wednesday, August 26, 2009

Sales of new homes surged 9.6% in July, to a seasonally adjusted annual pace of 433,000, the Commerce Department reported this morning, the biggest monthly gain since February 2005. July's sales pace was also the highest since September 2008.

Economists had expected a 1.6% gain to 390,000 sales in July.

Why Rent When You Can Buy?
By Prashant Gopal
Business Week
August 25, 2009

In 20 metro areas around the U.S., the cost of buying a home is only a little more — and in two metros actually less — than renting

Home prices have dropped so much that the cost to own and maintain a house in many metros is only a bit more, and sometimes even less, than the cost of renting.

Home price report: Case-Shiller shows increase of 2.9% By Les Christie
CNN Money
August 25, 2009

National home prices may be on the road to recovery.

After three years of declines, home prices increased 2.9% in the three months ended June 30, according to the latest S&P/Case-Shiller report. That is the first quarter-over-quarter improvement in three years.

Prices in the national index are down 14.9% compared with the second quarter of 2008, the report said. But that is better than the record 19.1% decline that was set in the first three months of 2009.

Old Post Office auction this week – 'big animal to tackle'
By Eddie Baeb and Alby Gallun
Crain's Chicago Business
August 24, 2009

One of the biggest real estate auctions in the city’s history is slated for Thursday, when the U.S. Postal Service is to sell the Old Main Post Office.

Chicago-area home prices up in June over May
By The Associated Press
Crain's Chicago Business
August 25, 2009

U.S. home prices posted their first quarterly increase in three years, signaling the housing market has turned a corner.

The Standard & Poor's/Case-Shiller's U.S. National Home Price Index released Tuesday rose nearly 3 percent from the first quarter to 133, though that reading is still down almost 15 percent from the second quarter last year.

Housing: Still a Long Road to Recovery
The housing market may be busier, but that doesn't mean home values are set to rebound any time soon
By Ben Steverman
Business Week
August 23, 2009

If you're selling your home, the good news is that you're likelier to find a buyer now than in the last couple of years.

The bad news is you should be prepared to slash your asking price.