John Burns News
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March 15, 2013 - These days, you might be surprised to receive a call from a realtor looking to sell your house -- even if it's not on the market. Mary Beth Harrison, a Dallas real estate agent, has been scouring tax records and contacting homeowners with lots of equity in their homes in the hopes they may be persuaded to sell. "That's how hot things are now," she told Bloomberg.com contributor Carla Fried when Fried wrote recently about the spring home-selling season.
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Investors seeking single-family homes to rent are buying land and newly-built properties as foreclosures dwindle and existing home prices in the U.S. rise at their fastest pace since 2006.
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Even as U.S. housing rebounds from its worst downturn since the 1930s, production bottlenecks are pushing up building-materials costs, land prices are rising and skilled labor ready to begin work is hard to find.
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People learn from catastrophes. Amid the grief and speculation over the Boston bombings, two things stand out to me: a refusal to rush to judgment in the U.S. commentary and the absence of schadenfreude in the Arab media.
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Lennar Corp. is proceeding with its Hunters Point project in San Francisco even as talks with China Development Bank Corp. for $1.7 billion in financing for the site and the nearby Treasure Island have broken off.
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Peter Horbulewicz started noticing investors from New York and California at Atlanta-area foreclosure auctions about four months ago. Working for private equity firms such as Colony Capital LLC and Blackstone Group LP, they’d clutch plastic folders crammed with cashiers’ checks and astonish locals with how much they were willing to pay.
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Lennar Corp. is close to signing a term sheet with China Development Bank for a $1.7 billion loan package that would revive two stalled real estate projects in San Francisco, Mayor Edwin Lee said.
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Renee and Dwaine McCuistion, who lost their Las Vegas home after defaulting in 2010, are feeling lucky again. They bought another property last month for $475,000, 42 percent less than what the previous owner paid.
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Greg Reichmann used to mine coal for Xstrata Plc in Australia’s Queensland state. Now he’s a tunneler under Mayfair, the most expensive place in the world to rent office space and home to London’s hedge-fund district.
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Baring Asset Management Ltd. named John Burns as chief operating officer to replace John Misselbrook, who is retiring at the end of 2011, according to an e-mailed statement today.
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