Friday, November 30, 2012
A 10-step plan for dealing with angry real estate clients
Asking the right questions can help defuse the situation
Playa Vista 'Fills' Up
More buildings are set to rise in Playa Vista, one of the largest undeveloped areas left in Los Angeles, as developers turn their focus from the exurbs to the "infill."
Thursday, November 29, 2012
Whit Peyton stepping down as leader of CBRE Minneapolis office
Whit Peyton, who has been running the Twin Cities brokerage business for CBRE Group Inc. for more than two decades, will step down as managing director at the end of the year. He will be replaced by Blake Hastings, former senior vice president with Cassidy Turley/BRE in Phoenix, according to a news release from CBRE. >Click to the right to see photos of the two men. >>>>> CBRE is the largest commercial real estate brokerage firm in the Twin Cities, with 89 metro area brokers,?
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New Hampshire Child Falls Down Laundry Chute, Gets Trapped in Wall
A New Hampshire couple has a lot to be thankful for: Their 2-year-old son miraculously survived tumbling down a two-story laundry chute and getting trapped inside the walls of their home on Thanksgiving Day.
Melissa Pendlebury and Eric Leger of Manchester, N.H., told WHDH-TV in Boston that they woke up to "a bloodcurdling scream" around 7 a.m. Thursday and heard their son, Cayden (pictured below after the incident), crying.
"My sister said, 'Oh my God, he's in the wall!'" Pendlebury recalled.Cayden had crawled through a 10-inch-wide latch on the second floor of their home. The latch opened to a shaft that used to be used as a laundry chute, leading to the basement. The family now uses it for cables and Internet wires.
Cayden dropped about 20 feet, FOX 25 in Boston reported, and became tangled in the wires, dangling by his legs.
"The screams that came out of him -- I never want to hear that again," Leger told TV station WCVB. "[I wasn't] able to do anything."
But there was one thing he did to try and calm his son.
"I just punched a hole in the wall so I could get to him and at least hold his hand," Leger added in an interview with WHDH.
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Firefighters rushed to the home after the family alerted them and had to cut wires and remove plaster to rescue the toddler through an opening in the basement. Cayden was taken to the hospital but released shortly thereafter with nothing more than a couple of bumps and bruises.
The family quickly nailed the latch shut and covered it with plaster after the incident, but that didn't stop little Cayden's young curiosity. In a video on FOX 25's website, Cayden is shown still attempting to open the latch door after it was sealed.
"Never doubt a child whatsoever 'cause they'll get into things you'd never even think about," Leger said.
Pendlebury was able to look back on the mishap with relief and a little laugh. She said that they had been planning a nontraditional Thanksgiving with movies at home and Chinese takeout.
"I guess he really did start it off nontraditional," she said of her son.
Shafts and chutes in homes and buildings aren't perilous only for curious little boys like Cayden. In August, a San Diego woman lost her balance in the shower and fell out her bathroom window and down the 15-foot light shaft of her apartment building.
Boston News, Weather, Sports | FOX 25 | MyFoxBoston
See also:
Woman Almost Loses Arm When Struck by Construction Debris in Storm
Do Guard Dogs Protect Homes From Burglars? These Pooches Didn't
Deadly House Explosion Investigated as Homicide
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Find homes for rent in your area.
Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.
On Location: Outside Seoul, an Artist?s Retreat Finds Magic in Plywood
A Korean artist?s retreat finds magic in plywood.
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Wednesday, November 28, 2012
Know the heating requirements for attic bedrooms
Complying with code may call for unique compromises
Source: http://feedproxy.google.com/~r/inmannews/~3/hprYLJJbEqM/know-heating-requirements-attic-bedrooms
How to refinance an underwater mortgage
If the loan is owned or guaranteed by Freddie Mac or Fannie Mae, you may be eligible for the government's Home Affordable Refinancing Program (HARP).
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/y_94tnP28dw/
Tuesday, November 27, 2012
New Hampshire Child Falls Down Laundry Chute, Gets Trapped in Wall
A New Hampshire couple has a lot to be thankful for: Their 2-year-old son miraculously survived tumbling down a two-story laundry chute and getting trapped inside the walls of their home on Thanksgiving Day.
Melissa Pendlebury and Eric Leger of Manchester, N.H., told WHDH-TV in Boston that they woke up to "a bloodcurdling scream" around 7 a.m. Thursday and heard their son, Cayden (pictured below after the incident), crying.
"My sister said, 'Oh my God, he's in the wall!'" Pendlebury recalled.Cayden had crawled through a 10-inch-wide latch on the second floor of their home. The latch opened to a shaft that used to be used as a laundry chute, leading to the basement. The family now uses it for cables and Internet wires.
Cayden dropped about 20 feet, FOX 25 in Boston reported, and became tangled in the wires, dangling by his legs.
"The screams that came out of him -- I never want to hear that again," Leger told TV station WCVB. "[I wasn't] able to do anything."
But there was one thing he did to try and calm his son.
"I just punched a hole in the wall so I could get to him and at least hold his hand," Leger added in an interview with WHDH.
%Gallery-123614%
Firefighters rushed to the home after the family alerted them and had to cut wires and remove plaster to rescue the toddler through an opening in the basement. Cayden was taken to the hospital but released shortly thereafter with nothing more than a couple of bumps and bruises.
The family quickly nailed the latch shut and covered it with plaster after the incident, but that didn't stop little Cayden's young curiosity. In a video on FOX 25's website, Cayden is shown still attempting to open the latch door after it was sealed.
"Never doubt a child whatsoever 'cause they'll get into things you'd never even think about," Leger said.
Pendlebury was able to look back on the mishap with relief and a little laugh. She said that they had been planning a nontraditional Thanksgiving with movies at home and Chinese takeout.
"I guess he really did start it off nontraditional," she said of her son.
Shafts and chutes in homes and buildings aren't perilous only for curious little boys like Cayden. In August, a San Diego woman lost her balance in the shower and fell out her bathroom window and down the 15-foot light shaft of her apartment building.
Boston News, Weather, Sports | FOX 25 | MyFoxBoston
See also:
Woman Almost Loses Arm When Struck by Construction Debris in Storm
Do Guard Dogs Protect Homes From Burglars? These Pooches Didn't
Deadly House Explosion Investigated as Homicide
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Find homes for rent in your area.
Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.
Permalink | Email this | Comments
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Sale closer than ever for one-time Vikings stadium site in Arden Hills
The Board of Ramsey County Commissioners is preparing to give final approval to buy a 430-acre site known as the TCAAP site in Arden Hills from the federal government. Then the real fun begins. Once the transaction is complete, Ramsey County and Arden Hills officials will work together on a plan for the redevelopment of the property, which had been a proposed site for the Minnesota Vikings stadium before that project ended up in downtown Minneapolis. The county's budget for the acquisition is $30?
enotes - May 31, 2011
MAAR's weekly electronic newsletter for the week of May 31, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_05-31.htm
Monday, November 26, 2012
Attorneys general request extended tax relief for distressed homeowners
Four attorneys general are leading the fight to extend tax relief for homeowners who were granted mortgage debt forgiveness in the case of a foreclosure, short sale or loan modification such as a principal reduction. Tax relief put in place by the Mortgage Debt Relief Act expires Dec. 31.
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One57's crane problem
Read full story for latest details.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/tfBIt9xI2Eg/index.html
Sunday, November 25, 2012
Weekly Market Activity Report - March 21, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of March 21, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_03-21.pdf
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Dominium changes ownership structure
The recent death of one of the co-founders of multifamily housing developer Dominium has prompted the organization to reorganize its ownership structure and add a new partner for its development projects. David Brierton, who co-founded Plymouth-based Dominium in 1972, died in late September. Dominium purchased the ownership interest of the other co-founder, Jack Safar, and of Brierton?s estate. Safar, along with Brierton?s estate, will remain owners in 170 existing partnerships, but they have?
Saturday, November 24, 2012
Home sales climb 2% in October
Read full story for latest details.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/pimHmYCubVQ/index.html
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Monthly Market Indicators - June 2011
A comprehensive look at the entire Twin Cities housing market in one location.
Source: http://www.mplsrealtor.com/downloads/market/MMI/archive/mmi_2011_06.pdf
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Friday, November 23, 2012
Weekly Market Activity Report - February 28, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of February 28, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_02-28.pdf
Guts Bring Glory for Property Investors
The expected sale of a hulking office tower in Manhattan is on track to net its seller the largest dollar profit to date on any single property purchased during the financial downturn.
Thursday, November 22, 2012
The 200+ - May 2011
MAAR's tracking tool for local housing market activity has been updated with data through May 2011.
Wednesday, November 21, 2012
Weekly Market Activity Report - June 20, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of June 20, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_06-20.pdf
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Housing Supply Outlook - February 2011
A thorough and detailed look at the current supply of homes for sale and absorption rates by price range, property type and construction status for the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/HSO/hso_2011_02.pdf
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Tuesday, November 20, 2012
Foreclosure mess awaits states hit by Sandy
Before Superstorm Sandy hit, New York, New Jersey and Connecticut were already reporting a big spike in foreclosures. In a few months, it will be even worse.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/lxcbPxOA1o4/index.html
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Foreclosure filings edge up in October: RealtyTrac
The Irvine, Calif.-based foreclosure research firm reported 186,455 default notices, scheduled auctions and bank repossessions. That is up 3% from September and indicates that one out of every 706 U.S. homes faced a foreclosure filing last month.
Monday, November 19, 2012
enotes - March 28, 2011
MAAR's weekly electronic newsletter for the week of March 28, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_03-28.htm
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Federal Flood Insurance Program Faces New Stress
The federal government?s flood insurance program, which fell $18 billion into debt after Hurricane Katrina, is once again strapped as the reconstruction from Hurricane Sandy gets under way.
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Sunday, November 18, 2012
Foreclosures and Short Sales - May 2011
A comprehensive, monthly view of the foreclosure and short sales situation in the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/FSS/fss_2011-05.pdf
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Saturday, November 17, 2012
Bernanke: Housing is not out of the woods, lending remains too tight
Fed Chairman Ben Bernanke said the Fed is pleased with the recent nine-month span of consecutive home price increases, but home lending restrictions remain too tight.
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Friday, November 16, 2012
Redwood bringing sixth jumbo RMBS in fourth quarter
Fitch describes the collateral backing the deal as loans with mostly 30-year, fixed-rate terms that are fully documented and tied to borrowers with strong credit histories. In addition, Fitch says third-party due diligence providers analyzed 93.2% of the pooled loans.
Thursday, November 15, 2012
General Growth Keeps Its Eyes on Prize
CEO Sandeep Mathrani has a message for activist investor William Ackman: Back off.
Redwood bringing sixth jumbo RMBS in fourth quarter
Fitch describes the collateral backing the deal as loans with mostly 30-year, fixed-rate terms that are fully documented and tied to borrowers with strong credit histories. In addition, Fitch says third-party due diligence providers analyzed 93.2% of the pooled loans.
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Wednesday, November 14, 2012
enotes - May 02, 2011
MAAR's weekly electronic newsletter for the week of May 02, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_05-02.htm
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New-home sales hit 2-year high
Read full story for latest details.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/q6ENhaDBw2s/index.html
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Weekly Market Activity Report - April 25, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of Apr 25, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_04-25.pdf
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Tuesday, November 13, 2012
Currents | Q&A: Evaluating a Storm?s Damage to a Beloved Garden
Larry Lederman, author of ?Magnificent Trees of the New York Botanical Garden,? returned to the garden last week to see how the trees had fared after Hurricane Sandy.
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Monday, November 12, 2012
On Location: In Miami, a Pay-as-You-Go Remodel
It was first by necessity, and later by choice, that a couple let the design of their home evolve room by room and chair by chair.
SWAT Team Evicts Sahara Donahue From Denver-Area Home as Occupy Protesters Fight Back
A SWAT team brought in to evict a 63-year-old woman from her home in Idaho Springs, Colo., ended up clashing with protesters affiliated with Occupy Denver who surrounded the woman's home.
The Clear Creek County Sheriff's Department told KUSA-TV in Denver that the team was called on after reports that one of the two dozen protesters there had a concealed handgun. The officers reportedly showed up to the scene pointing assault rifles at the protesters
"Usually, an eviction doesn't call for a tactical team," Capt. Bruce Snelling said.
The protesters from the Colorado Foreclosure Resistance Coalition and Occupy Denver were defending homeowner Sahara Donahue, who had been foreclosed on but refused to leave her home. Occupy Denver said on its website that Donahue had lived at her home for 24 years, and she was asking her lender, reportedly U.S. Bank, to stay for an additional 60 days while she looked for another place to live."About 10 vehicles filled with men in what appeared to be full battle gear (and assault weapons already in hand) began to fill the road in front of the house," Occupy Denver said. "With all their firepower and intimidation techniques, they targeted the least imposing person there. They put him face down in the dirt and gravel, and cuffed his hands behind him with their zip-tie cuffs."
Two protesters were detained in the squabble, but no one was arrested or charged with a crime. The reported handgun on one of the protesters turned out to be a BB gun, KUSA-TV reported.
"Obviously, in retrospect, it wasn't an excuse. It's also a poor excuse for them to point assault rifles [at us]," Darren O'Connor, a member of the coalition, told the TV station, saying that the BB gun incident did not call for the SWAT team's reaction.
News of the heated protest quickly spread through the Occupy pipeline, with a reportedly first-hand account of the incident posted on the Occupy D.C. website and others. The protesters also garnered the support of Occupy Our Homes, an offshoot of Occupy Wall Street that also stages protests at the homes of distressed borrowers.
That could be a big boon for the coalition's cause. As AOL Real Estate reported, Occupy Our Homes seems to be one of the most successful and influential organizations to spin off of OWS, hiking up its campaigns to fight foreclosure and notching up wins for homeowners facing eviction.
Occupy Denver posted a video of its scrap with the SWAT team on YouTube. The video shows protesters cursing at officers and one protester being detained. Though protesters portrayed the SWAT team as using brute force, Snelling defended their tactics.
"I think our officers handled themselves just fine," he told KASU. "I'll tell you, at the end of the day, we were prepared to meet any resistance that may have come."
Donahue was removed from her home and is reportedly staying with friends.
This is isn't the only case in which a SWAT team was used to remove people occupying foreclosed homes. Last year, a SWAT team gassed a foreclosure in Naples, Fla., to drive out the illegal squatters staying there.
See also:
Vacant Homes Plague Neighbors as Lenders Drag Feet
RealtyTrac Election Housing Report Finds Housing Market Worse Off than in 2008
Loan Officer Lifts the Lid on Deceptive Lending in 'The Liar and His Loans'
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.
Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.
Permalink | Email this | Comments
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Buying a 'Bad' Home: What to Know in Case You Buy a House of Horrors
Filed under: News
When Justin and Kate Treher purchased their stunning, four-bedroom Tudor in Harrisburg, Pa., in June 2010, they were relieved. After a long search, they thought that they'd found their dream home -- located in a quiet, wooded area with a spacious layout and generous yard that "seemed perfect" for raising their children.
"Most importantly, we liked that it did not need any work," Justin Treher told AOL Real Estate. "We had no interest in changing anything, not even the paint scheme."But, like the old adage goes, if it looks too good to be true, it usually is: Just eight months after their purchase, the Trehers found themselves knee-deep in problems.
The couple's "finished" basement became entirely flooded when their sump pump failed. Although the previous owner supposedly had just installed and tested the existing sump pump -- and had not declared any previous water problems -- before the sale, the Treher family found themselves not only with a soaked basement but with draining issues throughout the entire home. (The real estate disclaimer given to the Trehers before purchase listed no issues with the home other than upgrades and repairs that had supposedly already been completed.)
Just weeks after the discovery, the Trehers also found termite swarms in their "professionally done" sunroom. Despite a previous inspection turning up no signs of termites, the Trehers were suddenly forced to shell out an additional $2,000 to have their new home treated for the pests. Even still, their sunroom did not "seem right" after the extermination, Justin said.
"I kept noticing a musty smell in the sunroom," he recalled. "When probing along the window, my finger went through the sill and out crawled hundreds of termites."
The Trehers soon discovered that there was no caulking -- which keeps out moisture -- around any of the windows and that the home's insulation could be seen from the outside. They ultimately had to tear down a wall and take out windows and flooring, as the sunroom turned out to be entirely soaked and mold-ridden.
As if that weren't enough, a few months later, the frustrated Treher family also discovered a serious crack that developed alongside an existing repair line in the ceiling of their living room. Within days after the discovery, the ceiling became almost entirely detached. (When the Trehers attempted to remove the ceiling in order to replace it, it took "just one tug" for the ceiling to detach in its entirety). According to the Trehers, the house was "literally unraveling itself" -- and continues to do so, even two years later.
"After the issues started mounting up, the house has never felt like home," Justin said. "[But] we are stuck and will make the best of it -- hopefully saving up an emergency fund for any future repairs after we shell out for the exterior work next year."
How to Ensure You're Not Buying a Lemon
Though there's no such thing as a perfect house -- every home, even newly-constructed ones, will have some issue or another -- the trick is to make sure the home is free of any major problems before signing the dotted line. Like when buying anything, purchasing a home is a financial transaction and should be treated as such.
But, much like the Treher family's case, that can be challenging for many homebuyers. According to Kirk Juneau, a licensed home inspector in Washington State who is a member of the American Society of Home Inspectors, the majority of homebuyers are more concerned with the "views" than the "issues." (His thoughts are echoed by real estate attorney John Braun, who said that most people spend more time test driving their cars than looking at the home they intend to buy.)
"I think a lot of people -- 80 to 85 percent of people -- buy emotionally, and I get that. Buying a house is a dream," Juneau told AOL Real Estate. "I know it's hard, but homebuyers really need to separate their emotions from this transaction. Don't look at the home through rose-colored glasses; don't get too emotionally attached before the inspection. That's one of the most important things I can recommend."
Juneau recalled a case where he was commissioned to inspect a brand-new home in the Bellingham, Wash., area. He discovered significant structural issues with the home. Despite noting that in the inspection report -- and advising his clients against buying -- his clients went ahead and purchased the property. ("Where else can you find these views?" Juneau recalled his clients saying.) A year later, his clients contacted him, complaining that their home had settled by three inches -- a problem Juneau had predicted in his initial inspection report.
And though some homebuyers just won't listen, Braun told AOL Real Estate that the most important tip for homebuyers is still to hire a trained, licensed and well-reviewed home inspector. This is absolutely necessary, Braun said, as the average homebuyer is not trained to look at homes the way a certified inspector is. Ensure that your home inspector is licensed if your state requires it. (Unfortunately, only about half of states require any kind of certification or licensing for home inspectors.) Also, make sure the inspector is affiliated with a professional inspection organization, such as the National Association of Home Inspectors, American Society of Home Inspectors or National Institute of Building Inspectors.
Juneau adds that homebuyers should interview their inspector on the phone for at least 15 minutes before hiring them. "Ask for his resume, ask for guarantees," said Juneau.
Most importantly, insist on attending the inspection.
"It will take them much longer to inspect the house -- they'll have to stop and answer your questions -- but you absolutely need to be there. You'll get a wealth of knowledge and information about the home just being present during the inspection," Juneau said. "If the inspector isn't willing to let you attend their inspection, then that inspector isn't for you."
Be Careful Whom You Trust
Also beware of inspectors recommended by the Realtor trying to sell the home, Justin Treher warned. While the Treher family did hire an inspector to look at their home before purchasing it, it was an inspector whom they later found out their Realtor knew -- and "knew was awful," Treher said.
"I just remember that the inspector repeatedly mentioned how great of a condition the house was in and applauded the former owners," Treher told AOL Real Estate. "Unfortunately, that was a veneer."
Treher also recommended that homebuyers hire a remodeling contractor to look at the property. It's important, he noted, to have a professional inspect and dissect the home with "no relationship to the real estate machine" -- particularly someone who is able to assess the quality of workmanship in the home and spot shoddy DIY attempts.
And because you can never be too sure, some poking around yourself doesn't hurt either, according to Steve Sochacki, an Ohio-based Realtor. According to Sochacki, a thorough visual inspection -- looking out for cracks, sloped floors or failed siding with a flashlight and binoculars -- is never a bad idea. Braun also advised that after your own physical inspection, homeowners should do thorough background inspections on the home. This includes asking the Realtor and seller many questions and reading the seller's disclosure documents very carefully. Doing added research on the property and the neighborhood can also save homebuyers future grief.
"The recent sales history of the property can give clues: a house that sells every two years like clockwork, for example, may have an annoying neighbor or some other chronic problem. Police blotters are also full of information about 'trouble houses' in the community, potentially including the one you are looking at," Braun told AOL Real Estate. "Also, agents and sellers are required to disclose to potential buyers anything that might materially affect the buyer's use and enjoyment of the home. Known physical problems, like a leaky water heater, are included in this requirement."
Home warranties can also protect homebuyers from problems, particularly in their first year in their new home. Though Sochacki isn't their biggest advocate ("I've found home warranties to be ineffective in many of my own personal experiences, with sellers often reneging on what they cover," Sochaki said), many Realtors still recommend it as another way of protecting yourself.
"Although not perfect, home warranties do cover most major mechanical systems of the house and electrical, plumbing, among others," said Realtor Denise Manderfield of Ohio's Home Information Network. Warranties ensure, Manderfield said, that homebuyers will not have to worry about shelling out money in case basic systems in the house do not work, or if minor repairs are needed within the first year of occupancy.
I Bought a Lemon! What Now?
If, like the Trehers, you believe that you've just purchased a lemon, you still have options. Depending on the reasons behind your purchase, you might even be able to get your money back.
For example, if a Realtor has misinformed you about the quality of a home or omitted information that might cause potential buyers to walk away, then you have grounds to sue, Braun said. Many states, such as Texas, Minnesota and New Jersey, have an action to recover from a failure to disclose a defect. (This is the case for many homeowners who have unknowingly purchased "bad" homes.) The law is very clear that the homeowner is entitled to compensation by both the real estate agent and the licensee in such a situation. But it's still easier said than done: Treher learned that litigation is an extremely costly, time-consuming process that can be very risky.
"We did contact a couple of attorneys, but all of them stated that it really sounded like the worst of luck," said Treher. "While proving negligence might be possible, it would be expensive between engineer and attorney hours."
In the case in which the homeowner has not done their due diligence -- he or she didn't conduct their proper research on the home and didn't hire a home inspector -- there are even less options, according to Braun. Finding issues in the home that are unknown to the seller or Realtor is the sole responsibility of the potential buyer.
"If there's a grave structural defect that the seller had no idea lurked under the house, that could have been caught by an inspection [that wasn't commissioned], then the buyer is out of luck," Braun said. "In these cases, it's too bad."
If your house is a new construction, however, you might have another option: Check to see if the problems fall under federal construction standards violations. If so, then in Texas, so-called "home lemon laws" will give builders 60 days to fix defects that are a serious safety hazard. If these construction defects cannot be fixed, then the builders are required to buy back the home. (These laws are in the process of being enacted in states such as New Jersey, Arizona, Massachusetts, Florida, California and Nevada).
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.
Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.
Sunday, November 11, 2012
Edina's home 'tear downs' set record
Edina is about to set a record for homes being torn down and replaced with bigger houses. Through Oct. 30, Edina issued 85 building permits for new homes on the site of homes that are being torn down. That compares to 52 tear downs in 2011. The city is reviewing three or four more tear-down permit applications, said Cary Teague, Edina's Community Development Director. It has only issued one permit for a new home that will be built on a vacant platted lot this year. These homes are sometimes referred?
Property Values: Real Estate for $3 Million
A lakefront house in Washington State, a chalet-style house in Colorado, and a penthouse in Washington, D.C.
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