Pebblebrook to Acquire Mondrian Los Angeles Hotel



Morgans Hotel Group Co. has revealed its plans to sell the Mondrian Los Angeles to Pebblebrook Hotel Trust for $137 million.  The Mondrian Los Angeles is a luxury, 237-room, 12-story hotel in West Hollywood.  Pebblebrook plans to fund the purchase with available cash and hopes to close some time during the second quarter of this […]

New Pennsylvania Law Aimed at Fighting Blight



A new law in Pennsylvania is aimed at taking action against owners of blighted buildings.  The state legislature signed the Neighborhood Blight Reclamation and Revitalization Act into law on October 27, 2010, and it officially went into affect today. Under the new law, those properties that are deemed to be in severe violation of building […]

Rental Property Developers in Vermont Face Huge Obstacles



Developers in Vermont are facing an uphill battle trying to build new rental properties, according to a new report by the Vermont Housing Finance Agency.  The obstacles are many, and fixing the problem will be a difficult exercise. In Vermont, a two-bedroom apartment runs about $990 per month (7 percent higher than a year earlier […]

Foreign Investors Helping to Rebuild Florida Real Estate



Florida was hit hard by the real estate crisis, but there are signs that the market is starting to improve, thanks in part to foreign investors.  Sales are up 58 percent in Miami-Dade County compared to totals from March 2010.  Condominium sales were up 84 percent in March.  April 2011 may very well be remembered […]

Marriott Opening Three Properties in Doha This June



Marriott International revealed that it is opening three new properties in June, all in Doha, Qatar.  Two of the properties will be hotels: the Renaissance Hotel and Courtyard by Marriott, and the third will be an apartment community: Marriott Executive Apartments Doha City Center.  All three will be part of the Doha City Center Mall […]

Zillow is Going Public, Files for IPO



Popular online real estate information marketplace Zillow, Inc. has filed with the SEC to raise $52 million in an initial public offering (IPO).  Zillow has been growing fast in these turbulent real estate times, offering a simple interface and process to buying and selling property. Richard Barton and Llloyd Frink, both former Microsoft executives and […]

Commercial Properties Now Take Precedence in China



Chinese property developers recently told their investors that they are shifting their business strategy to focus on commercial projects rather than residential properties.  The shift coincides with the developers’ announcement of their 2010 financial earnings, which indicate the residential market is booming, while the commercial market is in need of attention. China’s central government intends […]

Century 21 Featured in iPhone/iPad Game



Century 21 has made its way into the gaming world with its inclusion in We City, a game for the iPhone, iPod Touch, and iPad.  In the game, players develop their own virtual cities, adding cafes, hot dog stands, hotels, parks and many other types of real estate.  It requires planning, building, and apparently some […]

Banks Ordered to Reimbursh Wrongly Foreclosed Homeowners



The U.S. federal government has ordered 16 of the largest lending institutions to pay back those customers who did not get proper foreclosures.  Among those on the list are Citibank, JPMorgan Chase, Bank of America, and Wells Fargo, the four largest banks in America. This is the governments latest jab at mortgage lenders designed to […]

FannieMae Brings Back HomePath Buyer Incentives



Fannie Mae, the Federal National Mortgage Association, has revived its HomePath buyer incentives program, which provides assistance for paying closing costs on the purchase of foreclosed homes. The program requires the purchasers to actually live in the foreclosed homes they buy, so do not expect assistance if you are an investor looking to buy, renovate, […]