Category Archives: Commercial
Builders Hope Energy Efficiency Will Beat Foreclosure Pricing Appeal
In today’s housing market, it can be hard to drag buyers’ attention away from the bargain basement prices available through REO and foreclosure home sales. Builders and developers are relying heavily on green, energy- and money-saving features to do just that – and it’s not cheap. Dan Hogan, supervisor of residential energy programs at Tucson … Continue reading
Tax Credits for Real Estate Investors Who Focus on Community Development
While real estate investors often get the short end of the stick when it comes to getting blamed for today’s economic conditions, even the federal government acknowledges that the market simply won’t recover without those investors. As a result, there are myriad tax credits out there to “lure” real estate investors into community development projects, … Continue reading
Condo Developer Believes Custom Hardware is Key to Successful Sales
“When you feel well-made hardware, you know it,” says Perry Finkelman, owner of a new NYC development on East 24th street. And Finkelman believes that his building’s custom hardware – he own custom line, in fact – will not only make his building stand out but help his sales as well[1]. The development, called One48, … Continue reading
Trend Spotting: Strip Malls Increasing in Appeal for Private Investors
When Alvin Mansour, senior vice president of investments and senior director of Marcus & Millichamp Real Estate Investment Services makes a move, real estate investors sit up and take notice. So when Mansour recently closed $44 million worth of transactions on 11 different strip malls throughout the country, most analysts agreed that this indicated a … Continue reading
Paris Hilton Enters the Commercial Real Estate Market
Follow @REJournalOnline Given her lineage, it will probably surprise no one that Paris Hilton is entering the hotel- and beach club business. In fact, many people may be wondering what took her so long. Hilton recently announced that in addition to her fashion lines that include clothes, shoes, perfume and hair extensions, she will be … Continue reading
Money Management Firm Insists Double-Digit Recession Concerns are “Overblown”
While many Americans are looking toward the future with concern these days as rumors of a “double dip” recession continue to swirl and the housing market and employment remain sluggish, at least one major money management firm has come straight out and said that these concerns are “overblown.” In fact, according to Lord Abbett partner … Continue reading
Federal Prosecutors Seek Life Sentence for Mortgage Fraud Mastermind
Lee Farkas, former majority owner of Florida mortgage company Taylor, Bean & Whitaker (TBW), didn’t kill anyone, but he still is facing life in prison – 385 years to be exact – for a $3 billion mortgage fraud scheme that has been called “one of the biggest bank frauds in U.S. history.” When his company … Continue reading
Michigan Counties Sue GSEs for Back Taxes
Two Michigan counties are suing Freddie Mac and Fannie Mae for back property taxes, saying that their public schools have lost “tens of millions of dollars” because the GSEs, who own many of the properties in the area through foreclosure, have failed to pay their taxes[1]. Although the property-transfer tax is relatively low - $8.60 … Continue reading
Las Vegas Hotel Gets Much-Needed Renovation Thanks to Defunct Strip Project
While bankruptcy was bad news for the Fontainebleau Las Vegas, a $2 billion project that was eventually sold to billionaire Carl Icahn and abandoned, it was good news for the Plaza Hotel in downtown Las Vegas, which will be enjoying many of the Fontainebleau’s furnishings, purchased for pennies on the dollar[1]. “It’s a complete remodel,” … Continue reading
Michigan DNR Offers 45 Parcels of Michigan Land at Auction
If you have been wanting a large tract of land in Michigan for your personal enjoyment and recreation, then the Michigan DNR is looking to help. The state’s Department of Natural Resources will be auctioning off 45 parcels of state-owned land in six difference counties via sealed-bid auction. Bids must be postmarked by midnight on … Continue reading