Zillow: 28 Percent of U.S. Homeowners Are Now Underwater



The percentage of homeowners with negative equity has increased to 28, according to Zillow, a website listing and property-value estimate website.  Those homeowners, said to be “underwater”, accounted for 22 percent last year, but home values have fallen 8.2 percent over the past 12 months. Zillow says home prices dropped 3 percent in the first […]

Investors Want H&R Block’s Subprime Lender to Pay Up



Several mortgage bond investors are seeking assistance to force a subprime lending unit of H&R Block Inc. to buy back billions of dollars worth of faulty loans.  The company, called Option One back when it did its dirty work, is now known by the name Sand Canyon Corp (SCC).  H&R Block sold off the servicing […]

Cedar to Sell All of Its Ohio Properties



Cedar Shopping Centers, Inc. announced this week that it is selling all of its 17 properties located in Ohio.  14 of the properties are anchored by Discount Drug Mart.  The sale is valued at $45 million, which Cedar hopes will reduce its debt by $30 million. Nickleplate Realty Trust, LLC out of Canton, Ohio is […]

USAA Sells 16 Real Estate Properties



USAA Real Estate Company has sold 16 of its properties in a Single Tenant Net Lease Retail Portfolio.  An affiliate of The Inland Real Estate Group of Companies, Inc. purchased the portfolio for an undisclosed amount. The 16 properties in the portfolio total 118,046 square feet and are leased to tenants from several well-known companies, […]

Phoenix Realty Group Acquires Three Apartment Properties



Phoenix Realty Group (PRG) announced the acquisition of an apartment portfolio for three properties containing 432 units in San Bernardino and Highland, California.  The entire portfolio sold for $21.5 million, and Phoenix acquired it from a lender that had taken over the assets in 2009. The properties had gone through a period of distress and […]

Florida House Approves Ballot to Lower Property Taxes



The Florida state house has approved a ballot that will give Florida voters the option to lower taxes on commercial properties.  If the Florida residents vote in favor of the constitutional amendment, the new legislation would reduce annual growth in assessed value from 10 percent to five percent or less. Additionally, first time home buyers […]

Hang Lung Chairman: No China Real Estate Bubble



Hang Lung Properties Ltd. Chairman Ronnie Chan says concerns over a possible collapse of China’s real estate market are “total crap.”  There is no real estate bubble in China, Chan said, because of the “humongous demand” from Chinese consumers and the steps the government has taken to fortify the market.  For Chan, people use the […]

Hyatt Plans to Open Two Abu Dhabi Hotels in 2011



Hyatt Hotels and Resorts announced that two of its Abu Dhabi properties will open in the second half of 2011.  The Park Hyatt Abu Dhabi Hotel and Villas and the Hyatt Capital Gate are located near Abu Dhabi International Airport and will welcome business and leisure guests from all over the world. The Tourism Authority […]

Large Increase in £1 million Home Sales in 2010



Apparently, the rich continue to get richer, as the UK home sales figures from 2010 indicated that the number of homes priced at £1 million or more rose 54 percent over 2009 totals.  7,185 properties over the one million pound mark were sold in 2010, indicating that the high end of the housing market is […]

Realtor.com Announces iPad App for Real Estate



Today Move, Inc. released the official Realtor.com iPad app, providing real estate listings and search capabilities.  The app allows iPad users to harness the power of Realtor.com’s searching system, accessing the “largest and most accurate collection” of real estate property listings online. The iPad app is only the next in a long line of Realtor.com […]