condominium

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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—...

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...

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’...

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...

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...

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 ...

LA Gets the Luxury Condo Bug
 LA Gets the Luxury Condo Bug
Aug 21, 2008 9:38 AM CDT

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...

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...

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...

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...

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...

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...

Condo Glut Floods Cities
 Condo Glut Floods Cities 
Mar 22, 2008 8:17 AM CDT

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...

Chicago's Spire Condos May Be a Tough Sell

Developer plunges pricey skyscraper into lousy housing market

(Newser) - The Chicago Spire residential tower isn't even under construction yet, but its luxury condos—slated to be sold for unprecedented prices—will come face-to-face with a lousy housing market when the sales office opens today. Prices for units in the twisting skyscraper start at $1,400 per square foot, but...

Silicon Valley Cars Get Their Own Condos

Pricey pads will double as clubs for big-bucks collectors

(Newser) - Silicon Valley millionaires (and billionaires) are gearing up for the latest status symbol in Status Symbol Land—condominiums devoted to storing luxury cars. Condos will start at $250,000, and the sites will also offer "club rooms" where guys can talk about cars. "There are more collectors here...

Condo Crash Is Just Beginning
Condo Crash
Is Just
Beginning
Aug 25, 2007 11:40 AM CDT

Condo Crash Is Just Beginning

Glut of new units and failing contracts yet to peak

(Newser) - Mortgage lenders are about to be hit with another wave of foreclosures and bankruptcies, the Journal reports, as the crisis kicks in in condo market. Because buildings take years to complete, even after buyers have signed contracts, the effect of declining property values and tight credit are slower to talk...

Katrina Tax Breaks Pay for Luxury Condos

Incentives for rebuilding are buying $1M units in Tuscaloosa, 200 miles from coast

(Newser) - Investors are using federal tax breaks designed to stimulate rebuilding after Hurricane Katrina to buy luxury condos being built near the University of Alabama’s football stadium, 200 miles from the coast, the AP reports. The Tuscaloosa developments, where units go for up to $1 million, are flourishing while much...

150-Story Chicago Spire to Begin Construction

Calatrava designed building will be nation's tallest building

(Newser) - The Chicago Spire, designed by Spanish architect Santiago Calatrava, is finally under way. Following an ownership change, a design change and a name change, what will become the nation’s tallest building will be completed in 2010.

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