Fannie Mae offers borrowers option to foreclosure AP (November 05, 2009) WASHINGTON (AP) - Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year.
10 homes damaged in blast at nearby Utah refinery AP (November 05, 2009) SALT LAKE CITY (AP) - An explosion at a Utah oil refinery - the second this year - smashed windows, bent garage doors and peeled siding Wednesday from 10 nearby houses, officials said.
Wyo. BLM defers leasing in Adobe Town area AP (November 05, 2009) CHEYENNE, Wyo. (AP) - The U.S. Bureau of Land Management said Wednesday that it was deferring the auction of controversial oil and gas leases in the high desert Adobe Town area in southwest Wyoming.
Fla. justices consider mediation for foreclosures AP (November 05, 2009) TALLAHASSEE, Fla. (AP) - Mediation would be a good way to expedite a flood of mortgage foreclosures, members of a foreclosure task force said Wednesday, but some disagreed on the details in oral arguments before the state Supreme Court.
Macerich 3Q results fall 10 pct. as revenue dips AP (November 05, 2009) SANTA MONICA, Calif. (AP) - Mall operator Macerich Co. on Thursday said its third quarter funds from operations slid 10 percent as revenue fell.
Congress set to clear aid to jobless, homebuyers AP (November 05, 2009) WASHINGTON (AP) - Congress is one vote away from sending the president legislation that continues aid to more than a million jobless people and extends tax breaks to hundreds of thousands of prospective homebuyers and struggling businesses.
Congress giving homebuyers a big new tax break AP (November 05, 2009) WASHINGTON (AP) - Missed out on Cash for Clunkers? Congress has another deal for you: Buy a home before May 1 and collect up to $6,500 from the government. If you're a first-time homebuyer, get up to $8,000.
Fannie Mae to rent out homes instead foreclosing AP (November 05, 2009) WASHINGTON (AP) - Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.
Hyatt Hotels rises from IPO price in debut on NYSE AP (November 05, 2009) NEW YORK (AP) - Shares of Hyatt Hotels Corp. traded higher Thursday in the iconic hotel chain's first day on the New York Stock Exchange, with investors dismissing concerns about infighting among its founder's heirs and tepid hotel reservations around the world.
MGM Mirage loses $750M as CityCenter's value drops AP (November 05, 2009) LAS VEGAS (AP) - MGM Mirage's latest casino project isn't open yet, but a drop in the $8.5 billion complex's value combined with falling revenue to push the casino operator into the red in its third quarter, the company said Thursday.
Pulte Homes posts $361.4M loss for Q3 AP (November 04, 2009) (AP) - Pulte Homes Inc. lost $361.4 million in the third quarter, but with the acquisition of Centex Corp., the homebuilder's new orders increased by more than a third.
National Retail Properties gets new $400M loan AP (November 04, 2009) ORLANDO, Fla. (AP) - Retail real estate investment trust National Retail Properties Inc. said Wednesday it has a new $400 million credit facility, which will replace one set to mature May 2010.
Fire strikes historic Vt. general store - again AP (November 03, 2009) PUTNEY, Vt. (AP) - When a fire destroyed the beloved, centuries-old Putney General Store 18 months ago, some people here cried.
St. Joe narrows 3Q loss as real estate sales climb AP (November 03, 2009) JACKSONVILLE, Fla. (AP) - Real estate developer The St. Joe Co. on Tuesday said its third-quarter loss narrowed despite higher expenses, as it sold off some of its holdings.
NJ towns move to preserve area, limit developments AP (November 02, 2009) TRENTON, N.J. (AP) - One of New Jersey's most significant environmental areas may soon get new protections that probably would limit development projects.
September pending home sales rise 6.1 percent AP (November 02, 2009) WASHINGTON (AP) - The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time owners that expires at the end of this month.
St. Joe Co. weathers recession by thinking big AP (November 02, 2009) SANTA ROSA BEACH, Fla. (AP) - Building along the Florida Panhandle's picturesque seaside slowed when financing dried up and the economy soured. Fences with architects' renderings of developments hide the unfinished eyesores dotting the beaches.
Apartment Investment & Management 3Q FFO falls AP (October 30, 2009) DENVER (AP) - Apartment Investment & Management Co. said Friday that its third-quarter funds from operations declined as rents and occupancy fell.
Nevada construction deaths prompt safety review AP (October 29, 2009) WASHINGTON (AP) - Federal officials will investigate workplace safety programs across the country after the deaths of 25 workers in construction accidents in Las Vegas over an 18-month period.
UK mortgage approvals up 6 pct in September AP (October 29, 2009) LONDON (AP) - Mortgage approvals in the U.K. rose 6 percent in September as the country's battered housing market improved, but cautious consumers paid off debt faster than they borrowed, the Bank of England said Thursday.
Brookfield Properties declares 14-cent dividend AP (October 29, 2009) NEW YORK (AP) - Real estate developer Brookfield Properties Corp. on Thursday said its board declared a quarterly dividend of 14 cents.
Brookfield results slip on residential decline AP (October 29, 2009) NEW YORK (AP) - Real estate developer Brookfield Properties Corp., owner of high-profile properties like the World Financial Center in New York and Bank of America Plaza in Los Angeles, posted a third-quarter profit dip Thursday, reflecting a decline in its residential operations.
Wyndham Worldwide 3Q profit falls, revenue down AP (October 28, 2009) PARSIPPANY, N.J. (AP) - Wyndham Worldwide Corp. said Wednesday that its profit fell in the third quarter as it spent less money on its timeshare business and continued to deal with travelers' spending less.
Tenn. Appeals Court rules for Bible Park rezoning AP (October 27, 2009) MURFREESBORO, Tenn. (AP) - The Tennessee Court of Appeals at Nashville has ruled in favor of a rezoning that would allow a Bible-based theme park to be built in Rutherford County.
Home sales rise 9.4 pct in Sept., beats forecast AP (October 23, 2009) WASHINGTON (AP) - Racing to complete their purchases before a tax credit for first-time owners expires, homebuyers pushed sales up last month by the largest amount in more than 26 years.
Sarkozy's son wins board post after scandal AP (October 23, 2009) PARIS (AP) - President Nicolas Sarkozy's son was elected to the board of the organization that runs France's most important business district on Friday after a dramatic withdrawal of his bid for the top spot amid fierce assusations of favoritism.
Home sales rise 9.4 pct in Sept., beats forecast AP (October 23, 2009) WASHINGTON (AP) - Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
House panel's probe targets big mortgage lenders AP (October 23, 2009) WASHINGTON (AP) - A House panel is investigating the role of mortgage lenders in the financial crisis and is seeking information from some of the biggest U.S. companies to determine if they used deceptive practices to lure borrowers into the housing boom.
Navajos may try to buy popular Arizona ski resort AP (October 22, 2009) FLAGSTAFF, Ariz. (AP) - The Navajo Nation may try to buy a popular Arizona ski resort to stop snowmaking on one of the tribe's most sacred mountains, the San Francisco Peaks.
Housing regs to add protections for gays AP (October 22, 2009) WASHINGTON (AP) - Federal housing officials said Wednesday they're developing regulations to ensure that gays and lesbians aren't denied access to federally subsidized housing based on their sexual orientation.
Hispanic farmers fight to sue USDA over lost land AP (October 22, 2009) SALINAS, Calif. (AP) - In their straw hats, rolled up sleeves and work boots, a dozen or so Latinos gathered by a field of ripening strawberries still look like farmers. All but one of them, however, have lost their land.
Starwood Hotels 3Q profit declines 64 percent AP (October 22, 2009) WHITE PLAINS, N.Y. (AP) - The travel slump sparked by the recession shows little sign of abating, as Starwood Hotels & Resorts Worldwide Inc. said Thursday that its third-quarter profit fell 64 percent on lower room rates, especially at its high-end hotels.
Congress scrutinizes problems in homebuyer credit AP (October 22, 2009) WASHINGTON (AP) - A House panel is looking into concerns of fraud among those taking advantage of the first-time homebuyer tax credit, a program central to the Obama administration's effort to get the housing market back on track.
BAA sells London Gatwick airport for $2.46 billion AP (October 21, 2009) LONDON (AP) - British airport operator BAA Ltd. on Wednesday said it is selling London Gatwick airport to Global Infrastructure Partners for 1.51 billion pounds ($2.46 billion).
Old Guard: NYS looking to unload more armories AP (October 20, 2009) GLENS FALLS, N.Y. (AP) - The turret offers a great view of the nearby Adirondack Mountains, the weapons bunkers can serve as wine cellars and the cavernous gymnasium could be turned into the ultimate rec room.
Kerkorian mulls reducing MGM Mirage stake AP (October 20, 2009) BEVERLY HILLS, Calif. (AP) - Billionaire investor Kirk Kerkorian is considering cutting his stake in MGM Mirage, the big hotel and casino operator whose earnings are being hammered by the severe downturn in the real estate market.
MGM Mirage to take nearly $1 billion charge in 3Q AP (October 20, 2009) LAS VEGAS (AP) - MGM Mirage said Tuesday it will take a nearly $1 billion charge against third-quarter earnings because it had to slash selling prices at CityCenter, a huge condo development in Las Vegas.
Arson blamed for destructive Calif wildfire AP (October 19, 2009) SACRAMENTO, Calif. (AP) - California fire officials say a summer blaze that destroyed 63 homes in the Sierra foothills was intentionally set.
Rates on 30-year loans inch up, to 4.92 percent AP (October 15, 2009) WASHINGTON (AP) - Rates for 30-year home loans have inched up, but remained below 5 percent for the third-straight week as government efforts to aid the housing market continued to keep rates low.
41 people charged in mortgage fraud in NY AP (October 15, 2009) NEW YORK (AP) - Federal authorities have charged 41 people in a mortgage fraud involving tens of millions of dollars across New York state.
Foreclosures pose challenge, cost to census count AP (October 13, 2009) LOS ANGELES (AP) - Foreclosures will make it tougher and more expensive to get an accurate census count next year as families move in with relatives or are left homeless, the Census Bureau's director said Tuesday.