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“The Commerce Department said Wednesday that sales dropped 0.6 percent in May to a seasonally adjusted annual rate of 342,000, from a downwardly revised April rate of 344,000. Sales were down nearly 33 percent from May last year. The results fell far short of economists’ forecast of a 360,000 sales pace, according to Thomson Reuters. However, many analysts think new home sales hit bottom in January and will increase gradually as the economy gathers steam.” Link
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“Donald Trump was sued Friday by buyers who lost millions of dollars in deposits on a failed hotel-condo in the Mexican border city of Tijuana. The 69 buyers purchased 71 units in Trump Ocean Resort Baja and paid deposits totaling between $18 million and $20 million, said Bart Ring, their attorney. Buyers were told last month that the luxury oceanfront project was being scrapped and that there was no money left to refund deposits. In December, they were told the project had only $556,000 left after collecting $32.2 million in buyer deposits.” Link
Mortgage Plan Gives Out New Guidelines To Save Foreclosed Homes Caused By Subprime Crisis
“This Estate Is Best Described as 17,000 Square Feet Of Paradise. Behind The Stunning Mahogany Double Doors you will find An Unbelievable Foyer with Marble Floors, Two Vast Sitting Areas, A Floating Mahogany Staircase, Leading to An Exquisite Grand Salon, all with Dramatic Ceilings over 20 Feet high. The Gourmet Kitchen features a Two Story Ceiling with a double sided fireplace. The Spacious Family Room has Dramatic French Doors leading to the Pool and Terrace. The Master Bedroom is 4,000 Sq Ft of Total Luxury. It Features An Enormous Sitting Area, His and Her Custom Closet over looking the Stunning Master Bathroom.” [Link]
Kim Kardashian picture
“The home of the modern-day Brady Bunch clan – which includes wife Kris and husband Bruce Jenner, as well eight kids between them — is hidden away in the Hollywood Hills and boasts four bedrooms and five bathrooms. There is a deluxe kitchen with a center island, granite counters and stainless steel appliances. The property also includes a pool, spa, patio and three-car garage, the Times said. It’s not clear whether the stripper pole featured in several episodes will be part of the home’s package as well.” [Link]
“Sales of existing homes fell 8.6 percent to a seasonally adjusted 4.49 million units in November compared with October. Sales were down 10.6 percent compared with the same period a year ago, according to the data from the National Association of Realtors. Median home prices fell 13.2 percent, to $208,800. ” [Link]
NeNe Leakes picture
“NeNe Leakes, the breakout star of the hit Bravo reality show “The Real Housewives of Atlanta,” is no longer living at the pricey Duluth five-bedroom residence shown on the series. According to Darryl Pierce, the broker for the 5,000-square-foot home at 1765 Silvermere Court in Duluth, NeNe and her husband, Gregory Leakes, left in November after Winwood Properties filed an eviction notice in September.” [Link]
“Home values fell 9.7 percent year-over-year in the third quarter to a Zillow Home Value Index of $202,966, according to the third quarter Zillow Real Estate Market Reports, which encompass 163 metropolitan areas. Home values have dropped a total 12.8 percent since the market peaked in 2006. ” [Link]
Donald Trump and Ivanka Trump picture
“The New York developer has hired a broker to market the building’s four-level retail space overlooking the Chicago River, set to open next summer with room for 20 shops and restaurants. Mr. Trump won’t disclose an asking price, but an offering memorandum obtained by Crain’s suggests the space could fetch $115 million to $130 million.” [Link]
