Real Estate Ramblings

According to the National Association of Realtors home existing sales shot up substantially in July - by 7.2% over June. This was the largest month-over-month gain since the index began in 1999. This also sets a record by being the first time since November 2005 that home sales volume is up year-...

The $8,000 tax credit for first-time homebuyers ends soon! You must close on your home purchase before 12/1/09 to be eligible, so if you're considering taking advantage of this great program getting started now is essential. Check out this video for more info and contact me if you'd like to get s...

A condo association in Chicago has begun an effort to buy up the vacant, foreclosed units in its condominium complex. At least 12 of the Shoreline Towers Condominiums' 378 units are in foreclosure and the condominium association has arranged a $2.5MM line of credit to allow it to purchase the uni...

Looking for a BIG real estate redevelopment project that gives you a chance to be very creative and will put all your spare change to work? Look no further than your friendly US Postal Service. The USPS is selling its 2.7MM square foot central post office in Chicago and for whoever ends up buying...

I attended a conference this week at the Wharton Lauder Institute focused on the financial crisis. I heard several distinguished professors and business leaders discuss a wide range of topics, and many of them touched on real estate as a key part of the current crisis. Professor Joseph Gyourko of...

A bit of good news for Countrywide borrowers - Bank of America (which now owns Countrywide) is paying a settlement to borrowers in certain states (PA being one of them) who meet the following criteria:   * The loan was made by Countrywide   * The loan was secured by an owner-occupied property; in...

Just when I thought that Florida's condo developers had learned their lesson, I came across this article about a new twist on condo living. 'Seniors' (55+) can now buy condo units on a cruise ship that has all the amenities of a typical, land-based Active Adult Retirement Community (AARC) and can...

For those of you looking for a well-balanced, big-picture overview of real estate investing look no further than the current (August 3rd) issue of Forbes Magazine. The special section titled "You Can Still Get Rich in Real Estate" contains four articles covering everything from investing in REIT'...

As prices come down across the board many seasoned real estate investors are migrating to larger properties where they can achieve greater economies of scale. This is leaving fewer professional investors in the market for duplex, triplex, and fourplex properties. As the investor community moves a...

University City is one of my favorite neighborhoods in Philadelphia. One reason is the concentration of great cafes and coffee shops that make it so easy to meet up with old friends over brunch, read a Sunday paper while sipping a cappuccino, or just grab a cup of joe on your way to catch the tro...