REAL ESTATE

Fannie Mae to bend rules for some Florida condos

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Fannie Mae, the largest funder of U.S. home mortgages, on Thursday said it is making it easier for some Florida condo buyers to qualify for loans in a bid to stabilize one of the worst-hit real estate markets.

Stuyvesant Town owners to miss loan payment: report

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Owners of Stuyvesant Town and Peter Cooper Village, a vast New York apartment complex, will miss a $16 million loan payment on Friday, putting them in technical default on their mortgages, the New York Times said, citing executives briefed on the matter.
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It's a renter's market in office real estate

The U.S. office vacancy rate hit a 15-year high in the fourth quarter and landlords slashed rent last year by the largest amount since at least 1980, real estate research firm Reis Inc said on Friday.
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Pending home sales slump, factory orders up

Pending sales of previously owned U.S. homes fell more sharply than expected in November, but a surge in new factory orders offered assurance the economic recovery remained on track.
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Residents may be evicted for spitting

Chinese people who live in government-sponsored housing in a prosperous southern province may be evicted if caught repeatedly spitting in public, according to a draft plan.
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US shopping center vacancies hit records - report

Vacancies at U.S. strip malls hit an 18-year high in the fourth quarter and the vacancy rate for large regional malls reached the highest in at least 10 years, according to real estate research firm Reis Inc.
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U.S. mortgage data stems oil's nine-day rally

Oil eased on Wednesday after U.S. data showed weak mortgage demand in the world's top energy consumer, halting a nine-day rally that has lifted crude futures by 14 percent due to cold weather and geopolitical jitters.
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Mortgage demand near six-month low as rates jump

Demand for U.S. mortgages held last week near six-month lows as the highest long-term borrowing costs since August stifled refinancing, a Mortgage Bankers Association survey showed on Wednesday.
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Pending home sales tumble 16 percent in November

Pending sales of previously owned U.S. homes fell more than expected in November because of the end of a rush to beat the initial expiration of a popular tax credit, a survey showed on Tuesday.
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Plunging home prices pull Manhattan buyers back in

Home prices in Manhattan fell in the double digits in the fourth quarter, but the markdown pushed buyers into the market, according to several reports released on Tuesday by New York City's biggest brokerages.
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World's tallest building opens in Dubai

Dubai's ruler inaugurates the world's tallest building on Monday, in a testament to the emirate's still strong ambitions to become a global business hub despite the debt problems that have dampened investor optimism.
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Riksbank's Ingves says housing mkt scrutiny-minutes

Swedish central bank governor Stefan Ingves said the Riksbank could face a dilemma ahead in reining in rising house prices without cutting off credit to businesses, the minutes of the latest central bank meeting showed on Monday.
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Decrepit London landmark shows property pain

A gust of wind howls around Battersea Power Station, an industrial wasteland by the Thames whose coal-fired furnaces were once used by the Bank of England to burn millions of pounds worth of banknotes.
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General Growth net loss narrows in November

Bankrupt shopping mall owner General Growth Properties Inc, which is seeking to surface from bankruptcy protection next year, posted a narrower net loss in November from the month before, according to a monthly regulatory filing.
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House prices stall, consumer confidence up

U.S. consumer confidence rose to a three-month high in December, while prices in the hard-hit housing sector stalled in October, breaking a five-month string of gains.
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Home prices flat after five months of gains

U.S. home prices were unchanged in October, according to the widely watched Standard & Poor's/Case-Shiller indexes released on Tuesday, indicating stabilization in the hard-hit housing sector though the figures dashed hopes for a sixth straight monthly increase.
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New home sales hit seven-month low

Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, but a surprise drop in new home sales was a reminder that the economic recovery would be bumpy.
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US mortgage applications drop to two-month low

Demand for U.S. home loans fell last week to the lowest level in almost two months even though mortgage rates held steady below 5 percent, the Mortgage Bankers Association said on Wednesday.
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Existing home sales up 7.4 percent in November

Sales of previously owned homes in the United States surged last month as prices continued to fall and buyers rushed to take advantage of a popular tax credit, the National Association of Realtors (NAR) said on Tuesday.
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Uncluttered Condo Living

Whether you’re living in a condominium or are just looking at buying one in the future, one of the biggest considerations to make when living in a condo is where you’re going to put all of your belongings so that they don’t take over your home.
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U.S. mortgage industry grapples with new disclosures

The biggest changes to home loan disclosures since the 1970s are around the corner and many in the industry are warning that misunderstandings will create a logjam of confusion just as housing tries to recover.
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Heavily indebted Dubai World to pitch standstill

Dubai World disappointed creditors on Monday by making little progress on securing standstill on $22 billion of debt, as a key creditor meeting turned out to be a tame affair with less than half the expected attendees showing up.
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Serious U.S. mortgage delinquencies up 20 percent

Serious delinquencies among U.S. prime mortgages rose nearly 20 percent in the third quarter from the prior quarter, as the percentage of current and performing mortgages fell for the sixth consecutive quarter, banking regulators said on Monday.

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