Real Estate Roundabout

Real estate closings and marriage proposals

By Mary Umberger, Monday, September 12, 2011.

Flickr/<a href="http://www.flickr.com/photos/timparkinson/4819060778/">timparkinson</a>.

Closings and beginnings ...

Whatever happened to a romantic evening under the stars as the logical place to pop the question? Chase Bank mortgage officer Greg Valentino was working on the title paperwork with a couple of homebuyers in Columbus, Ohio, when he asked them if he should list the owners as "single man" and "single woman," according to the Columbus Dispatch.

At that moment, 43-year-old David Brant pulled out a ring and proposed to 31-year-old Cathy Rosenberg, according to the story. She said yes, and they plan to marry Sept. 29.

The loan officer said the experience was a first for him, but there's at least one other real estate precedent: Clifton, N.J., Coldwell Banker agent Grace Iosco told the Clifton Journal she was in the midst of a closing in July when one of her clients interrupted the proceedings to ... well ... you know ...

"My client thought that would be a wonderful 'closing gift' for his girlfriend," Iosco told the paper. more...

Texas subdivision plays role in developer's full-length film

By Mary Umberger, Tuesday, August 2, 2011.

A 2,500-acre mixed-use subdivision in Lewisville, Texas, is the backdrop of a full-length movie created by the developer, Dallas-based Bright Realty, Builder magazine reports.

"Cooper & the Castle Hills Gang," which cost $500,000 to produce, is a coming-of-age drama about an 11-year-old who lives in what he calls "the best neighborhood in the entire world."

As the boy tries to help a neighbor out of a bit of a jam, they set off on a journey through the 2,500-acre Castle Hills development and all its amenities.

The 51-minute film has been screened at the Dallas International Film Festival and for guests at Castle Hills. It's online at castlehillsmovie.com. more...

Barbie's next Dream House

By Mary Umberger, Thursday, May 26, 2011.

Flickr image courtesy of <a href="http://www.flickr.com/photos/ellenm1/5157771386/sizes/l/in/photostream/">ellenm1</a>.

Proof positive that there just aren’t enough real homes to be designed in this economy: The American Institute of Architects has partnered with Mattel Inc. to sponsor a contest for AIA members: Design Barbie’s next Dream House.

She has rather specific requests for her toy home, according to design guidelines put out by the AIA that are written in Barbie’s “voice." Here’s what Barbie wants: “A sleek, smart home office is important for any doll. The kitchen should be functional and fabulous with top-of-the-line appliances. As the original 'fashionista,' you can imagine how large my closet needs to be! I have unlimited fashions and accessories, so I need lots of shelving, shoe racks and a closet that can be easily organized."

Oh, and one more thing, Barbie noted: “I love animals and I have as many as five pets (including a giraffe). A big backyard is very important so they can roam and play."

The public will be invited to vote on the winning design; the winner will be announced in August. more...

Osama bin Laden's $1M mansion is no 'spartan cave'

By Mary Umberger, Monday, May 2, 2011.

Google Maps location identified as "<a href="http://bit.ly/krn0eA">Osama bin Laden's Hideout Compound</a>."

Bin Laden's hiding place: a $1 million compound

Unquestionably, the most interesting piece of real estate on the entire planet today is the "mansion" compound where Osama bin Laden was found.

As the New York Times reported, "It was hardly the spartan cave in the mountains that many had envisioned as bin Laden's hiding place. Rather, it was a mansion on the outskirts of the town's center, set on an imposing hilltop and ringed by 12-foot-high concrete walls topped with barbed wire.

"The property was valued at $1 million, but it had neither a telephone nor an Internet connection," the Times wrote. "American officials believed that the compound, built in 2005, was designed for the specific purpose of hiding bin Laden."

The Los Angeles Times has published a graphic showing property details, as well as satellite images from before and after the compound was built.

The Associated Press reported that a doctor, Qazi Mahfooz Ul Haq, sold the land in 2005 where the compound was built, and The Telegraph reports that the contractor who allegedly built the complex, named in reports as Gul Muhammad, has been arrested near Abbottabad, Pakistan. more...

The man listed as the buyer of the property may have been killed in the U.S. raid, AP also reported. There is a photo of the compound (other photos in this Telegraph report), and a Guardian article discusses bin Laden's family background in building and architecture.

Ireland's 'Ghost estates' and London's $221M fixer-upper

By Inman News, Monday, May 2, 2011.

A three-story penthouse in London's Knightsbridge neighborhood has been sold for about $221 million -- and it's a fixer-upper. The new owner bought the unit with bare walls and no amenities and is expected to spend up to $100 million to finish it, according to the Telegraph newspaper.

A government survey in Ireland estimates that more than 2,800 "ghost estates" haunted the country at the end of 2010.

The Sunday Business Post reports that "ghost estates" are developments that have been bought but not completed as a result of the nation's enormous economic downturn. This amounts to 40,000 unoccupied properties in various stages of construction, with 58,000 more approved but not yet built. more...

Wisconsin Realtors' political contribution riles some real estate pros

By Inman News, Monday, May 2, 2011.

More than 120 agents and brokers are listed as supporters of Real Estate Professionals for a Better Wisconsin, which is protesting the Wisconsin Association of Realtors' backing of Gov. Scott Walker and its donation of $150,0000 to his campaign, according to the Wisconsin State Journal.

Walker has been at the center of the state's highly controversial efforts to cut its budget, including the cutting of state jobs and limiting collective bargaining for state employees.

"We are petitioning the WRA to stop endorsing individual political candidates, focusing instead on educating the public about issues affecting our industry and where the candidates stand on them," reads a statement on the group's site. more...

Bugged by bedbugs

By Inman News, Monday, May 2, 2011. A Chicago condo board is suing the resident of a North Side high-rise because it claims she is being uncooperative in its efforts to eradicate more than 500 bedbugs in her unit, according to Crain's Chicago Business. The suit said her failure to cooperate has hampered efforts to keep the bugs from finding their way to other residences in the building. more...

Demolition contractor dumps debris on real estate company property

By Inman News, Monday, May 2, 2011.

Police have arrested a Northwood, N.H., demolition contractor in connection with the illegal dumping of multiple truckloads of burned debris onto the driveway of a local real estate company.

Police charged the man with one count of felony criminal mischief for dumping the charred wood and debris in front of a local Keller Williams Real Estate office; a police representative didn't offer a reason for the deed, according to the Concord Monitor newspaper. more...

Real estate agent scores a bullseye

By Inman News, Monday, May 2, 2011.

A Franklin, Tenn., real estate agent won $100,000 on the History Channel's "Top Shot" reality show by besting 15 competitors in the use of weapons that ranged from sniper rifles and .44 Magnums to tomahawks and blow guns.

Chris Reed, who described himself as "country boy from the cotton fields of the Mississippi Delta" is a seasoned competitor, according to the Tennessean newspaper: He was runner-up in Field & Stream magazine's 2009 Total Outdoorsman Challenge and has won numerous state and national championships in archery and long rifle events. more...

Aspen McMansions: a new life as assisted-living facilities?

By Inman News, Monday, May 2, 2011.

Money just ain't what it used to be in Aspen, Colo.: The super-rich homeowners who dominated the chi-chi ski capital in recent years lost a bundle in the recession and are unlikely to maintain their role in Aspen's future.

That's according to a former demographer for the Colorado state government, who told local officials they ought to be courting more tourists and retirees and to stop depending on the financial elite.

The demographer, Jim Westkott, suggested that some local mansions of 10,000 square feet or more eventually might be converted into duplexes, co-ops or assisted-living facilities as baby boomers begin to retire, according to an Associated Press report. more...

Bondsmen: Real estate not the bailout it used to be

By Inman News, Monday, May 2, 2011.

Add this to the insults to the American way of life that the housing bust has caused: It's made it harder for some people to post bail.

The Wall Street Journal recently reported that bail bondsmen in areas where large numbers of homes have underwater mortgages have turned their backs on their longstanding practice of accepting homes as collateral. Some, instead, have opted for long-term payment plans for incarcerated types whose houses are no longer desirable markers.

"I've got better luck winning the lottery than I would finding someone with a home up for collateral that actually has value to it," a Modesto, Calif., bondsman told the Journal. more...

Real estate price trends: an opera

By Inman News, Monday, May 2, 2011.

Recently, the folks at National Public Radio's "All Things Considered" found themselves wishing they could show their audience, in the form of a graph, the recent history of America's home prices. But radio, of course, can't do much with the visual medium of graphs and charts.

So they converted the data into musical notes and gave it to a singer at the Julliard School in New York to perform in operatic fashion. more...