Staff Reporter
Mortgage rates moved into record low territory again this week, with the average rate on the benchmark 30-year fixed mortgage rate settling at 4.10 percent, a level last seen in February, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points. Freddie Mac Sets New Timelines for Short Sales to Help Add Transparency, Expedite Decisions
In an effort to make the short sale process more transparent, Freddie Mac (OTC: FMCC) is updating its timelines and also requiring servicers to provide weekly updates when decisions take more than 30 days after the receipt of a complete application for a short sale under the Obama Administration's Home Affordable Foreclosure Alternative (HAFA) initiative or Freddie Mac's traditional requirements. All decisions must be made within 60-day Significant Development in Retail Property Sector in Oman
The commercial property sector in Oman has seen some significant developments, particularly in the retail market, according to the Oman quarter one 2012 report from Cluttons which has been operating in the sultanate for 25 years. UK Housebuilder Persimmon Upbeat as Enquiries Rise
British housebuilder Persimmon said it had made a good start to 2012 with both visitor levels and orders up on last year, boosted in part by a new government mortgage scheme. Coty Expands in Empire State Building
Beauty company Coty Inc has signed a new lease for 317,716 square feet (29,517 square meters) in New York City's Empire State Building, adding two floors to the four it already occupied in the iconic skyscraper. Global Regulators Map Out Safer Home Loans
Regulators published global guidance on Wednesday to make granting home loans more rigorous, five years after weak lending standards in the U.S. mortgage market spiralled into the worst financial crisis in decades. Top 10 Hipster Cities In America
What US city provides the ultimate urban bohemia for hipsters? Whether the term elicits an eye roll or admiration, the counterculture types of the 21st century go by one name: hipsters. NYC Will Open 54 New Schools This Fall & A Software Engineering School, Says Bloomberg
Mayor Michael R. Bloomberg and Schools Chancellor Dennis Walcott announced the city's plan to open 54 new schools this fall, including a high school academy for software engineering. Come September, the Bloomberg administration will have closed 140 schools and opened 589 new ones since 2002, through a longstanding policy that has set out to replace poorly performing schools. The new schools will eventually serve more than 21,000 students. ‘Jersey Shore’ House: What Did Fans Do To The Seaside, N.J., Beach Home? [PHOTOS]
The Seaside, N.J., home that houses the "Jersey Shore" gang has been vandalized! While it might not come as a surprise since the inside of the house was frequently vandalized by its famous reality star tenants, but on the outside has been tagged by hoards of fans. Fed Solicits Bids From Eight Banks For Maiden Lane III Assets
The New York Federal Reserve said on Wednesday it has asked eight dealers to bid on assets from its Maiden Lane III portfolio, which was created during the bailout of insurer American International Group (AIG). Cardboard Cathedral Christchurch: ‘Emergency Architect’ To Rebuild Quake-Wrecked Icon With 104 Tubes [PHOTOS]
"Emergency architect" Shigeru Ban has designed a "cardboard cathedral" to replace the iconic ChristChurch Cathedral in New Zealand's quake-ravaged city. ‘Dirty Dancing’ Hotel: Fire Destroys Grandview Palace, Inspiration For Hit Film [VIDEO]
A piece of movie history went up in flames over the weekend as the inspiration for the 1980's hit "Dirty Dancing" was burned to the ground in a large fire. $87 Million California Mansion Up For Bankruptcy Auction [PHOTOS]
"The house is spectacular. It's unique," Newport Beach estate agent Michael Gosselin said. "For the right buyer, it would be fantastic. I just don't know how many buyers like this are out there anymore. I'll be curious to see what it sells for." Ikea Announces All-In-One HDTV Home Entertainment System, 'Uppleva' [VIDEO]
Ikea is releasing an HTDV home entertainment system called the Uppleva. If you can find a common thread among the words VÄRDE and MYSA RÖNN and INGAMAJ, there's a good chance you're either a Swede or an Ikea fanatic. Beach Town Prices in Australia on the Rise Again
Rising residential property prices in certain coastal areas in Australia shows the worst could be over for beach towns, according to research. Average UK Residential Property Prices Down 1.7% in Q1,2012
The value of the average residential property in Britain fell by 1.7% during the first quarter of 2012 and now stands at £215,436, down £3,708 from the end of 2011, according to leading property website Zoopla. Hong Kong, China Shares Rebound; Property Spurs Mainland Gains
Hong Kong shares bounced back after two days of losses on Wednesday as stronger overseas markets and a turnaround in the mainland bourses, led by the property sector, spurred some short-covering. Singapore Tightens Rules For Developers
Singapore said on Wednesday it will tighten rules to ensure developers reflect the size and layout of apartments more accurately as part of new measures to protect buyers who are less familiar with the property market. China Sees First House Price Fall on Year Since Curbs
China's average new home price fell last month from a year earlier, the first decline in two years, raising investors' hopes that property calming policies may soon be eased. Thai Real-estate Firms Lead on Analyst Revisions
Real-estate developers Amata Corp. and Sansiri Public emerge as stand-out performers based on analyst revisions among 94 companies in Thailandtracked by at least three analysts, data from Thomson Reuters StarMine show Hong Kong Tycoon Denies Wrongdoing Over Macau Case
A Hong Kong property developer whose name was mentioned as a witness in a Macau corruption trial has denied any suggestion of wrongdoing linked to the case brought against a former Macau government official. Warren Buffett: What About The Succession Plan?
Warren Buffett, the chairman of Berkshire-Hathaway, has revealed that he has been diagnosed with prostate cancer. Warren Buffet Diagnosed With Prostate Cancer (FULL-TEXT OF LETTER TO SHAREHOLDERS)
The chairman of Berkshire Hathaway, revealed that he has been diagnosed with prostate cancer. In a letter to shareholders, the chairman of Berkshire Hathaway, revealed that he has been diagnosed with prostate cancer. France & Spain Are Top With British Second Home Owners
France and Spain are still the top locations for British property buyers seeking a second home abroad despite the eurozone economic turmoil. Tokyo Skytree Tower: World's Second-Tallest Building Boasts Sweeping Views [PHOTOS]
The Tokyo Skytree Tower--the world's tallest freestanding broadcast structure -- opened its doors to members of the media on Tuesday, boasting sweeping views of the city's skyline. U.S. Bancorp Beats Street; Mortgage Revenue Soars
U.S. Bancorp's first-quarter profit topped analysts' expectations as mortgage banking revenue surged. California Mansion Fire Sale: the Fall of a Billion-Dollar Realtor [Photos]
It has 17 bathrooms, a 17-car garage, marbled floors, gold leaf ceilings, a vineyard, horse stables, tennis courts and a lake - and occupies the largest parcel of residential real estate on southern California's exclusive Newport Coast. Exclusive: Bank of America Puts Non-U.S. Wealth Arm Up For Sale
Bank of America Merrill Lynch has put its wealth management units outside the United States up for sale, three sources familiar with the situation said, hoping to bring in up to $3 billion for the sub-scale business. Instant View: US March Housing Starts Fall, New Permits Surge
Groundbreaking on U.S. homes fell unexpectedly in March, but permits for future construction rose to their highest level in 3 1/2 years, Commerce Department data showed on Tuesday. Julie Andrews' Brentwood Home For Sale For $2.65 Million
Julie Andrews' Brentwood Home For Sale For $2.65 Million Julie Andrews' Brentwood Home For Sale For $2. 65 Million, photo from tvtropes. org Actress Julie Andrews is selling her Brentwood home for $2.
EDITOR'S PICKS
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Gov. Gavin Newsom Expedites Temporary Housing For Residents In Areas Struck By LA Wildfires
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Pasadena Native Lost Her House To LA Wildfires One Day After Paying Off Her Mortgage: 'It's Gone'
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How The Mircale Malibu Mansion And Pacific Palisades Home Survived The Devastating LA Fires
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What Happens To Your Mortgage And Property Tax When You Lose Your Home In A Natural Disaster?
