If businessmen believe the government should take a backseat in most things business, they have a different take when it comes to the mortgage market. In fact, they feel that when it comes to mortgages, the government should have more involvement. Last Tuesday, the Obama administration invited banking executives and asked them for advice regarding changing the government’s role in the Read full article »
NAHB Lobbying Budget For The Second Quarter Runs To $600,000
This just goes to show how lobbyists are dead serious when it comes to their cause. A total of $600,000 was spent by the National Association of Home Builders on lobbying for housing, taxes, and construction lending. And this was just in the second quarter of the year. The amount that was spent is actually 23% less than what the home-building Read full article »
category: Featured, Residential
Senator Harry Reid Adds To Growing Protests Against Proposed Ground Zero Mosque
Following President Barack Obama’s remarks at a Ramadan dinner last Friday, lots of people raised their own commentaries. Included in those who put their foot forward are politicians, Republicans and Democrats alike. Latest in the long list of those who weighed in the political debate is Senate Majority Leader Harry Reid. Senator Reid has gone on record, saying that the mosque Read full article »
tags: business, Twin Tower
House Prices Drop In London; Housing Recovery Falters
A strengthening housing economy does not necessarily mean a steady one. Case in point: London. Its home sellers are now cutting down asking prices, wiping out whatever gains were made in the first half of 2010. On an average, London home sellers are now asking 7,000 pounds (or $26,500) less for properties on sale. According to the nation’s largest property website, Read full article »
Northwest Suburbs Highest In Cook County Foreclosures
Not one region in the United States was spared from the recession hit on the housing industry. Lately, though, it seems like the Northwest suburbs are being branded as the “leaders” in foreclosures. This shows a shift in trend from last year’s. Vis-à-vis last year’s numbers, Northwest suburban Cook County shows a 55% increase in foreclosures for the first six months Read full article »
tags: Cook County, foreclosure
Mobile Home At Woody’s RV Resort Set On Fire
In every tragedy, there is always something to be ‘thankful’ for. Let’s take for example the fire at the southern end of Sebring, Florida last Friday: it was lucky that most of the residents were not on site and people stayed safe. Friday, August 13, at 2 p.m., a home blaze in a mobile home distracted the quiet afternoon at Woody’s Read full article »
category: Featured, Residential
tags: mobile home
Auction On Three Okemos Properties Put On Hold For One Week
Real estate was hit really hard by the recession and more and more properties are being sold. Take for example William White’s businesses in Okemos, Michigan. But the foreclosure auction set last Thursday for the three Okemos properties has been postponed by its mortgage lender. Okemos entrepreneur William White has lost grip on three of his businesses: Travelers Club Restaurant and Read full article »
category: Commercial
tags: business, foreclosure
Up For Auction: Property On Camelback Once Eyed By Donald Trump
The Camelback parcel that was once eyed by New York City developer Donald Trump and partner will be up for sale. The property, which was once home to Hard Rock Café, Just for Feet, and Blockbuster Video, will be sold at an auction on August 18. Found east of Camelback Esplanade at 24th and Camelback Road, the boutique retail space was Read full article »
tags: Donald Trump, Hard Rock Café
Custom Home Builder Grey Lundberg Guilty Of Stealing Tax Money
Indeed, nobody can get away with cheating the law. Custom home builder Grey Lundberg didn’t get away with it. The 48-year old home builder and former owner of CMI homes was charged last March with 13 counts of first-degree sales taxes theft. On Wednesday, Lundberg – whose homes were once featured in Street of Dreams events – pleaded guilty, admitting to Read full article »
tags: builder
Fortress Investment Group To Buy American General Finance
American General Finance will be turned over from American International Group to Fortress Investment Group. Fortress has decided last Wednesday to buy the said consumer lending business, probably as a platform to acquire other struggling lenders. Getting hold of other failed banks and businesses may mean funds for fixing one of American General Finances’ main problems, says independent fixed-income research firm Read full article »
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