Saturday, 01 February 2025

Buy & Sell

Federal Reserve Seeing Banks Benefiting More Than Homeowners

While we've been seeing a huge drop in interest rates in recent months, The Federal Reserve are livid at the fact that American banks are cashing on the swarm of home-buying and mortgage loan refinances, reported The Economist.

China's New Mortgage Rules, The Latest Efforts To Cool Real Estate Market

As China's housing market displays an extreme price gap between the biggest and the smaller cities, Chinese central banks are increasing down-payment costs and interest rates for second-home mortgages, reported Bloomberg Businessweek.

John Legend Buys Bigger Condo in Little Italy, New York

Grammy-award winning singer John Legend has grabbed a loft-like property for around $2.5 million in the Little Italy area of Manhattan, New York. He recently sold his East Village condo in New York for $2.6 million. His listed condo sold just within two months of its listing, that too for a cool profit of $775,000.

EDITOR'S PICKS

Fashion Guru Derek Lam Lists SoHo Condo for $6 Million

The famous California based fashion designer, Derek Lam has listed his condo in the SoHo neighborhood of New York for a cool $6 million.
By Rapti Gupta
30-Year Fixed Mortgage Drops to Historic Low 3.51 percent

This week the average U.S. rates on fixed mortgages hit a new record low--at 3.51 percent for 30-year fixed mortgage, reported The Associated Press.
By Ansa Varughese
BMW to Move Distribution Center to Redlands, California

German luxury auto manufacturing giant, BMW will be moving operations of the Ontario distribution center/ warehouse to the outskirts of Redland, California. Construction on the new warehouse will start in the second quarter of 2013 and is expected to be completed by 2014.
By Rapti Gupta
Amazon Seeking Office Space in New York

The Seattle based e-commerce retailing giant, Amazon.com is seeking office space of around 500,000 square feet in New York City. The deal would be a big jump for the company as it already owns 100,000 square feet of office space in Manhattan.
By Rapti Gupta
Canada Mortgage and Housing Corp. Hiding From Buyers The Homes Were Foreclosures

Canada's national housing agency is being questioned on whether they're selling properties that were foreclosed, reported The Financial Post.
By Ansa Varughese
Urban League To Develop First Civil Rights Museum in New York City, Part of a $225 Million Development Center (PHOTO)

The new development, called the Urban League Empowerment Center is budgeted at $225 million and will include a 400,000-square-foot complex with affordable housing and retail stores. It will also house a brand new national headquarters for the National Urban League, reported the Daily News.
By Ansa Varughese
Debra Messing Sells Bel-Air Home for $11.4 Million In Less Than a Month

Funny lady Debra Messing just sold her Bel-Air home for $11.4 million, reported Zillow blog. Funny lady Debra Messing just sold her Bel-Air home for $11.
By Ansa Varughese
Michael Jordan Buys $2.8 Million Lakeside Home In Charlotte

Basketball legend Michael Jordan bought a $2.8 million home by the shores of Lake Norman in Charlotte, N.C., according to News & Observer.
By Ansa Varughese
Leonardo DiCaprio’s Malibu Home Hits Rental Market Again (VIDEO)

The “Titanic” actor, Leonardo DiCaprio is trying to “Inception-ize” people into occupying his bland Malibu beach-front home. He has flipped the home on the rental market yet again with a monthly charge of $75,000 a month.
By Rapti Gupta
Maria Bello Lists California Home for $1.85 Million

Maria Bello of “The Mummy 3” glory has listed her home in Venice, California with an asking price of $1.85 million. Bello purchased the property in 2005 for around $1.89 million and has now listed it at a discount of $45,000.
By Rapti Gupta