Real Estate Company is Closing – Victim of Housing Slump
Newsday.com reports today that a real estate company in West Long Beach, NJ is closing due to the housing market and cannot operate anymore.
Here is the full article:
WEST LONG BRANCH, N.J. – Foxtons is closing because of the slumping housing market.
The West Long Branch-based real estate company says it’s contemplating bankruptcy protection for an orderly [...]
MAR’s August 2007 Housing Release
The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes sold in August is up 6.6 percent compared to the same time last year, with median sales prices up slightly. Sales of condominiums were up 3.4 percent, with median sales prices up 4.8 percent.
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IBM Leases 490,000 SF Outside Boston
Computer giant IBM has signed a 490,000-square-foot lease to completely occupy the newly renovated Littleton Corporate Center, a two-building interconnected office complex in suburban Boston.
National Development of Massachusetts and New York-based Angelo Gordon & Co. acquired the complex last April from Hewlett-Packard Co. for $25.5 million. The venture began a full-scale renovation earlier in the [...]
Forclosure rate and expectations
According to AP, foreclosures and the delinquency rate (which tracks the number of homeowners behind on their payments but not yet in foreclosure) recently rose to record highs due to the problems with subprime mortgage rates (see article). Welcome to the world of adjustable rate mortgages. Creative financing with adjustable rate mortgages can be tricky. [...]
