Category Archives: Land
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
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
New Nevada Laws Target Secondary Lien-Holders Stalling Short Sales
Over the summer, Nevada legislators have been hard at work trying to legislate their real estate market out of the doldrums. And while not everyone agrees that more legal regulation is the best way to cure the housing market, most will likely agree that anything that makes lenders more cooperative has the potential to be … 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
Florida Property Tax Relief Could Force Layoffs
Thanks to a $210 million tax relief bill signed into law in Florida Wednesday, people in the South Florida Water Management District will get a 30 percent property tax bill reduction[1]. In fact, all four of Florida’s water management districts will have tax revenue reduced and tax bills will fall as a result. However, some … Continue reading
Foreign Investors Double Down on Anticipated U.S. Commercial Recovery
Last year, foreign investment in U.S. real estate more than doubled, and international investors show no sign of slowing down when it comes to taking advantage of the widely-predicted U.S. commercial real estate market recovery[1]. According to Jones Lang LaSalle, foreign investment in U.S. real estate doubled last year to $13.37 billion, and that trend … Continue reading
Investor Used Real Estate Seminars to Recruit Straw Buyers
If you attended a real estate “seminar” hosted by Brett Matheson in 2005 or 2006, you might have been the unwitting targets for a major real estate scam. The real estate investor and CEO of Maricopa Property Investment Solutions has now admitted that he was using those seminars to recruit straw buyers for what ended … Continue reading
JPMorgan and RBS Securities Face Lawsuit from National Credit Union Administration
The National Credit Union Administration (NCUA) believes that lenders misrepresented the value and risk level of hundreds of securities sold that caused the failure of five wholesale credit unions[1]. Now, the NCUA is taking at least two lenders to task and additional lawsuits are likely to follow. “NCUA has the responsibility to do everything in … Continue reading
Critics Allege Tax Lien Buyers are Costing Cities Money
One expert believes that city governments are actually losing money by selling tax liens because tax lien investors “tie up the most valuable properties” in an area and foreclose on others, ultimately “costing the city more money than the properties are worth.” Bill Patteson, a spokesman for Jefferson County, Kentucky attorney Mike O’Connell, believes that … Continue reading