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The Lenny Dykstra Flip?
Tweet Share on Facebook June 10, 2008 Comment (1)Former big-league baseball player Lenny "Nails" Dykstra is swinging for the fences with this recently reported real estate deal:
From Big Time Listings:
Lenny Dykstra has placed his eight-bedroom mansion in the Lake Sherwood area of Thousand Oaks, Calif., on the market for $24,950,000, less than a year after purchasing it from hockey great Wayne Gretzky for a reported $18.5 million.
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What? Pending Home Sales Unexpectedly Surge?
Tweet Share on Facebook June 9, 2008 Comment (1)Stop shaking your monitor—it's true! Pending home sales in April jumped a shocking 6.3 percent from the previous month, the National Association of Realtors reported today. It's the biggest one-month gain since 2002 at least, snapping a roughly five-month-long steak of declines.
So does this mean the bottom is at hand?
From Goldman Sachs:
We do not have enough experience with this indicator to know how [reliably] it might signal meaningful shifts in the direction of existing home sales. However, if it holds up on revision, it is conceivable that this could mark the onset of a more stable period of sales.
Keep those rally caps on...
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Evander Holyfield Jabs Foreclosure Allegations
Tweet Share on Facebook June 9, 2008 Comment (125)Looks as if Evander Holyfield might not be a candidate for the Home Front's title of America's least sympathetic housing crisis victim after all.
From the Associated Press:
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Foreclosure's Five "D's"
Tweet Share on Facebook June 9, 2008 Comment (3)ForeclosureRadar.com founder and CEO Sean O'Toole says there are distinct life tragedies—or "D's", as he calls them—that most often lead to the repossession of a home.
These "D's," he told the Los Angeles Times, are:
- Death
- Disease
- Divorce
- Drugs
- Denial
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Foreclosure Punches Evander Holyfield
Tweet Share on Facebook June 6, 2008 Comment (13)The first legitimate challenge to Jose Canseco's title as America's least-sympathetic housing crisis victim comes from a man who is no stranger to duking it out: former heavyweight champion Evander "the Real Deal" Holyfield.
According to the Atlanta Journal-Constitution:
The former heavyweight champion appears to be in serious financial trouble. His palatial estate in Fayette County is under foreclosure, according to a legal notice that appeared in a local newspaper, and is set to be auctioned by Washington Mutual Bank on July 1. The home is worth an estimated $10 million.
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How to Get a Mortgage in a Tight Market
Tweet Share on Facebook June 6, 2008 Comment (1)Although they've been rising lately, national mortgage rates remain at historically low levels. But since the housing mess and credit crisis have made home loans, particularly jumbo loans, more difficult to obtain, the American Bankers Association has released this list of tips to help consumers get the best mortgage they can in today's tight market.
Figure out if you can afford to buy. Before buying a home, you should first decide if you can actually afford to buy. Your bank or online resources can provide a calculator to determine what you can afford. The ABA's calculator is available by clicking here.
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Councilwoman Fined for Watering a Lawn
Tweet Share on Facebook June 5, 2008 CommentIn return for her efforts to prevent an abandoned home from blighting her community, Galt (Calif.) City Council member Barbara Payne received a $100 thank-you fine from the local government, according to the Lodi News-Sentinel.
Payne got the citation last week for watering the lawn of an abandoned house next door to hers. Turns out, you can't do that in Communist Chi—oops, Galt, Calif.
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The World's Priciest Real Estate Markets
Tweet Share on Facebook June 5, 2008 CommentBusinessWeek recently published an interesting look at how far $1.5 million goes in some of the world's priciest real estate markets. (And you thought New York was bad?)
From BusinessWeek:
• In London, where the average price per square foot is a whopping $6,191, $1.5 million will get you a small studio apartment.
• In lovely Monaco, where the average price per square foot is a relative bargain at $5,888, $1.5 million will get you a larger studio apartment.
See the complete list here.
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5 Quirky Moves by Home Sellers
Tweet Share on Facebook June 5, 2008 Comment (1)The folks over at DotHomes have passed along this list of five quirky things—from giveaways to name dropping—that homeowners are doing to make their homes stand out in today's sluggish market.
We'll have to check back with them later to see what worked (and what didn't).
But for now, have a look:
1. Bond over pop culture.
Do you watch American Idol? These sellers entice you to envision yourself enjoying next week's episode from the comfort of your lovely new living room. -
Housing Starts
Tweet Share on Facebook June 5, 2008 CommentAssociated Press: "Home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of the housing crisis's mounting damage to homeowners and the economy."
The New York Times: "Philadelphia announced a program on Wednesday to reduce the number of people who are forced from their homes because they cannot afford the payments on an adjustable-rate subprime mortgage."
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