Browsing All Posts filed under »real estate news«

Top Ten List – Duarte, California Now Most Expensive Zip Code in U.S.

October 26, 2010

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According to a recent report from Forbes.com, the average of median price of homes located in the most expensive zip codes in the U.S. now tops over $4,000,000. Forbes.com also reports that the top 500 U.S. zip codes also experienced a continued year-over-year price drop of 5% for high-end home prices, which is slowing from […]

Sea Island Resort Acquired for $212.4 Million

October 25, 2010

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  The assets of Sea Island Co., the Georgia resort that fell on hard times and filed for bankruptcy protection in August, will be acquired by four firms for $212.4 million. The winning bid was submitted Monday night after an eight-hour auction at Atlanta law firm, King & Spalding. The bid has the approval of […]

U.S. Housing Market Recovery Mirrors Strengthening Dollar

October 21, 2010

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As Secretary of Treasury Tim Geithner wrestles with global current exchange rates, so does the U.S. housing market. According to new data from currency specialist Moneycorp, the currency market has a major bearing on the fortunes of US realtors. The data indicates a clear correlation between the currency fluctuations of the USD and GBP against […]

‘Ultimate Escapes’ Destination Club Files for Bankruptcy

October 19, 2010

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Ultimate Escapes, one of the largest luxury destination clubs in the world, filed for bankruptcy last week, the latest blow to the struggling residence exchange industry. In a court filing, Florida-based Ultimate listed assets of $10 million to $50 million and debts ranging from $100 million to $500 million. Earlier this month chief executive Jim […]

U.S. Hotel Market Ends September on a High Note

October 15, 2010

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    Smith Travel Research (STR) reported this week that the U.S. hotel industry reported increases in all three key performance metrics during the week of September 25, 2010. In year-over-year comparisons, occupancy increased 7.5 percent to 64.2 percent, average daily rate was up 2.6 percent to US$103.09, and revenue per available room ended the […]

Foreign Developers Searching for Bargain Home Sites in U.S.

October 14, 2010

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    All of a sudden, America’s dirt is looking good to foreign home developers.   The National Association of Home Builders‘ Washington, DC office confirms it is receiving queries from Japan and Australia, Canada in recent months.  “For the first time since World War II, I think [foreign] people are more optimistic about the U.S. […]

California Housing Market to Uptick Slightly in 2011, Says C.A.R.

October 13, 2010

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    According to the California Association of Realtors’ (C.A.R.) 2011 California Housing Market Forecast released this week, the California housing market is expected to edge up slightly in 2011. California home sales for 2010 are forecast to decline 10 percent from the 2009 sales figure of 546,500 homes sold.  Sales in 2011 are projected […]