condominium

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Aging Condos in a Financial Bind That Could Doom Them

'Washington Post' looks at growing problem

(Newser) - For the fifth straight summer, children could only gaze at the expansive pool at their condo complex in Maryland through a chain-link fence. A dirty tarp covers the in-ground pool at the 60-year-old Grand Bel II complex in Silver Spring, which has no money to run it or fix the... More »

Pet Owners Fuming Over Doggie DNA Request

Florida condo association aims to curb pet poop

(Newser) - Some Florida condo owners are steaming after their homeowners association asked them to submit their dog's DNA in order to fine owners who don't pick up after their pets. Residents of Harbor Landing in Destin, Fla., said they received a letter last week and some feel it's... More »

Manhattan Condo Sells for Record $100M

It's the priciest place ever sold in New York City

(Newser) - The decimal points alone could buy a posh residence: An unknown buyer has paid $100.47 million for a Manhattan condo overlooking Central Park. The 11,000-square-foot penthouse is in the luxe One57 apartment tower, reports the Real Deal . It's not only the highest price ever paid for a... More »

Rome's Colosseum Was Once a 'Condo'

Amphitheater functioned as a 'condo' for centuries

(Newser) - If only these walls could talk. Rome's iconic Colosseum, built nearly 20 centuries ago in 72 AD, has long been known as the site of gory gladiator battles and animal slaughter. Now, archaeologists who spent three weeks studying an excavated area beneath some 80 arched entrances that opened up... More »

NH Woman Plants Flowers, Gets Sued

Kimberly Bois battles her condo board

(Newser) - The grounds around Kimberly Bois' condo are filled with daisies, bearded irises, lavender, and hydrangeas … a piece of floral serenity that's getting Bois sued. The Atlantic Pointe condo association wants her to pull up the perennials, and since Oct. 24 has been fining her first $25 per day... More »

Condo Spends $100K Trying to Evict Dog ... and Loses

Court says dog rule needs to be cleared by owners

(Newser) - Donata Forman really loves her dog. So when her condo board told her little Charlie—a four-pound Yorkshire terrier— had to go, “I said, I’m going all the way" with the case, Forman tells the New York Daily News . “I need him because he’s part of... More »

Condo With Poop Problem Wants to DNA-Test Dogs

'I feel like I'm living in a "Seinfeld " episode,' says one owner

(Newser) - A luxury condo in Baltimore has gone to the dogs, its owners complain, and the solution is obvious: have all the resident canines' DNA tested to identify the miscreant who's been leaving droppings around the place. The plan, to be voted on tonight, will cost owners of dogs—including guests—... More »

Condos Under SF Bridge? Blogosphere Loves It

The Bay Line, aka Bay Bridge to Nowhere, is catching on

(Newser) - With the eastern span of the San Francisco-Oakland Bay Bridge due to go out of commission when its replacement is completed (current ETA: 2013), a campaign is amping up in the blogosphere to keep it around as a pimped-out version of New York’s popular High Line. The Bay Line—... More »

CityCenter: Las Vegas' $8.5B Stimulus Bet

Hotel-casino-condo-shopping behemoth brings 12K jobs, optimism to battered state

(Newser) - A gigantic addition to the Las Vegas Strip is a one-stop stimulus package for a city and state walloped by the recession and an $8.5 billion bet that happy days are near again. With 12,000 jobs, the CityCenter project—a kaleidoscope of condominiums, boutique hotels, shopping, and, of... More »

Looking to Buy a Condo? Act Now

What's bad for luxury developers is good for buyers

(Newser) - Standing tall in some of the most moneyed neighborhoods in America, condos once symbolized a seemingly bottomless housing boom. Now that the housing market has cratered, the luxury real estate sector is providing would-be buyers with the biggest opportunities, Forbes says. Lake Tahoe, Calif., Key Biscayne, Fl., and New York’... More »

Buyers Lose $32 Million as Trump's Baja Bet Folds

Donald's name drew deposits which couldn't be refunded

(Newser) - Donald Trump lost some very big fans when his  luxury hotel-condo plan in Mexico collapsed, leaving little more than a hole in the ground and investors out of $32.2 million in deposits, the AP reports. Trump and his children heavily promoted the resort on the northern tip of Mexico's... More »

Retirement Communities Seek Younger Residents

Housing bust leads to 'age desegregaton'

(Newser) - A rash of vacancies caused by the ugly housing market has prompted many retirement communities to consider lowering, or even eliminating, age restrictions, the Wall Street Journal reports. Many of the communities enjoy lower taxes, and child- and teen-free living appeals to some seniors. But what's being call "age... More »

Developers Use Auctions to Move Condos

When it's tough to set prices, these sales let buyers do it

(Newser) - With buyers scarce and prices in Florida's condo market plunging, sellers are increasingly turning to auctions to move units in new developments. No longer just a means of unloading foreclosed homes, the auctions also keep agents from having to guess what the public is willing to shell out, the New ... More »

LA Gets the Luxury Condo Bug

City's vertical trend extends to rich

(Newser) - LA’s multi-millionaires are downsizing. While the wealth and fame in the City of Angels has traditionally expressed itself in estates, preferably gated, now a steady stream of the very-well-heeled are trading in their mansions for high-rise luxury condos, the New York Times reports. “People are ready to live... More »

Wall Street's Wealthy Can't Nab Apartments

With 7-figure bonuses in jeopardy, the rich lack buying power

(Newser) - Manhattan’s most rabid real estate buyers are finding that a million-dollar bonus doesn't cut it anymore, the New York Times reports. With markets in turmoil, Wall Street bankers' staggering bonuses are in jeopardy, and apartment sellers are taking note. “They’re looking for people who have stable incomes... More »

Cindy's Considerable Coin May Cost Political Capital

McCain family not afraid to spend wife's millions; Dems may repay Kerry debt

(Newser) - Cindy McCain family's fortune—being used for campaign subsidies, hefty real-estate purchases, big credit card tabs, unpaid property taxes, and huge household help budgets—is raising eyebrows on the campaign trail, Kenneth Vogel writes in Politico. And Democrats seem ready to collect, with interest, on the scrutiny aimed at Teresa... More »

Mrs. Mac Pays Condo Taxes... 4 Years Late

Beer heiress never got San Diego property bills, aides say

(Newser) - A trust company overseen by Cindy McCain has paid almost $7,000 in overdue property taxes to San Diego County, after Newsweek began looking into unpaid bills on the condo. Government notices sent to a Phoenix address were returned by the post office; and the county claims that McCain owes... More »

Condo-Hotel Bubble Pops, Splatters Many

As more rooms go empty, buyers target developers

(Newser) - Condo-hotel rooms were a hot buy at the height of the housing boom, but marketing them as investments that would pay out every time they were occupied could come back to haunt developers, the Wall Street Journal reports. As business sours, buyers who find themselves making mortgage payments on empty... More »

Surprise! Existing Home Sales Jump

February's 2.9% rise surprises analysts; median price tumbles unprecedented 8.2%

(Newser) - Existing home sales stunned Wall Street today with an unexpected spike, Bloomberg reports. The metric rose 2.9% in February to an annual pace of 5.03 million. Analysts had predicted yet another decline, to a 4.85 million pace. But one economist said this was only a “temporary... More »

Condo Glut Floods Cities

Bargains abound as boom-time projects completed

(Newser) - A deluge of new condos is about to hit many American cities already flooded with an unprecedented number of unsold units, the Wall Street Journal reports. This year, thousands of projects started at the height of the housing boom will be completed; oversupply and economic slowdown are likely to cause... More »

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