One in Every 452 Homes in U.S. Received Foreclosure Filing in October, RealtyTrac Reports

By Alex Finkelstein 11/14/08 2:24 PM EST

(IRVINE, CA) - The national home foreclosure story isn't getting any better, Realty Trac reported today. The Irvine, CA-based research organization finds one in every 452 U.S. housing units received a foreclosure filing in October.A total 279,561 foreclosure filings were... Read More

SPECIAL REPORT: NAR Chief Economist Lawrence Yun Predicts 2nd Half '09 Economic Turnaround with Federal Housing Stimulus Package

By Scott Kauffman 11/13/08 11:07 PM EST

(ORLANDO, FL) - There are two questions on the minds of most American homeowners: when will the housing market finally start to rebound and how long will the current recession last? Read More

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Obama Victory: What It Means for Real Estate

By NATIONAL ASSOCIATION OF REALTORS 11/12/08 11:52 AM EST

(WASHINGTON, DC) - With the election of Sen. Barack Obama (D-Ill.) as president of the United States, and gains by Democrats in U.S. House and Senate races, one big questions is on many REALTORS®' minds: How will the new government... Read More

Realtors Against GSE Privatization

By NATIONAL ASSOCIATION OF REALTORS 11/12/08 11:49 AM EST

(WASHINGTON, DC) - To insure that there is sufficient capital to support mortgage lending to qualified borrowers, the National Association of Realtors® has adopted principles that recommend continued government involvement in the secondary mortgage market."As the leading advocate for housing... Read More

Feeling of Optimism Pervades NAR Annual Convention

By Scott Kauffman 11/10/08 10:47 PM EST

(ORLANDO, FL) - Just days after the historic U.S. presidential election, two words are etched in the minds of many Americans: hope and change. Those same two words best describe the psyche of today's real estate agents, many of whom... Read More

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Marshall Management Adds 9 Contracts in 45 Days

By Alex Finkelstein 11/14/08 2:53 PM EST

(SALISBURY, MD)--Marshall Management Inc., a 28-year-old, mid-sized hotel management company, has added nine contracts in less than two months and sees additional growth opportunities despite the feeble economy.Michael Marshall"In addition to taking over and turning around properties, we are heavily... Read More

Concord Hospitality Breaks Ground on 17th Hotel This Year

By Alex Finkelstein 11/12/08 12:44 PM EST

(RALEIGH-DURHAM, NC) - Mark Laport isn't waiting for the economy to turn around. The president and CEO of Concord Hospitality Enterprises is moving ahead right now at full speed.Mark LaportLaport announced his 23-year-old firm has just broken ground on its... Read More

S&P Downgrades Trump Entertainment Resorts Holdings

By Alex Finkelstein 11/11/08 10:55 PM EST

(New York, NY) - This wasn't developer Donald Trump's best day.  Standard & Poor's Ratings Services today lowered its corporate credit and issue-level ratings on Atlantic City-based Trump Entertainment Resorts Holdings L.P. (TER).The corporate credit rating was lowered to 'CCC'... Read More

Kansas City Marriott Country Club Plaza Getting $9M Facelift

By Alex Finkelstein 11/11/08 9:42 PM EST

(KANSAS CITY, MO) - The 19-story, 295-room Kansas City Marriott Country Plaza is getting a $9 million facelift, its second since the property was built 21 years ago.The hotel's new owner, Noble Investment Group of Atlanta, announced the renovation launch... Read More

Largest Privately-Owned Airport in US Could Evolve as Huge Real Estate Development Project

By Alex Finkelstein 11/15/08 7:09 PM EST

(WILMINGTON, OH) - The 2,200-acre Wilmington AirPark, largest privately-owned airport in the U.S., could be transformed into a huge commercial, industrial or residential real estate project over the next several years. Read More

Grubb & Ellis Sees Continued Softening in Commercial Leasing Markets

By Alex Finkelstein 11/12/08 2:30 PM EST

(SANTA ANA, CA) - The word from Bob Bach today isn't good.Robert Bach "Expect commercial real estate leasing market fundamentals to soften through 2009," predicts the senior vice president and chief economist at Grubb & Ellis Co. headquarters in Santa... Read More

Regency Centers Reports Higher FFO and Net Income

By Alex Finkelstein 11/11/08 10:17 PM EST

(JACKSONVILLE, FL) - National retail developer Regency Centers Corp. has outflanked the global economic turndown by reporting higher funds from operations and net income in its third-quarter report to shareholders.(Regency Centers Corp. executive team, seated, Bruce Johnson and Brian Smith.... Read More

New York Shubert Affiliate Buys Retail Ground Lease for $14.9 Million

By Alex Finkelstein 11/09/08 10:25 PM EST

(MANAHAWKIN, NJ) - The Shubert Organization, a New York City theatrical legend, has purchased a ground lease on a prime 14-acre tract currently housing an active BJ Wholesale Club retail operation. The price was $14.9 million. The seller was SP... Read More

Nakheel Building 3 Bridges from Mainland to Palm Deira

By Alma Kadragic 11/14/08 3:24 PM EST

(DUBAI, UAE) - As work continues on Palm Jumeirah and its other major developments in Dubai, Nakheel is building the first of three bridges to connect the mainland with Palm Deira, another project involving manmade islands positioned to form a... Read More

Abu Dhabi Primed to Take Off with Louvre, Guggenheim in Tow

By Scott Kauffman 10/27/08 2:04 PM EST

(ABU DHABI, UAE) - In some respect, while Dubai is the glitzy Las Vegas of the Eastern Hemisphere, Abu Dhabi is becoming the cultured New York City. Read More

After Cityscape: 14th Worldwide Property Show Opens in Dubai Today

By Alma Kadragic 10/23/08 11:30 PM EST

(DUBAI, UAE) - Included are 85 exhibitors from 32 countries at the Grand Hyatt Hotel and companies from Australia, the Middle East, Turkey, Europe, and the US. Read More

Tiger Woods Teams with Red McCombs on Private Mexico Golf Club

By Scott Kauffman 10/21/08 9:01 AM EST

(PUNTA BRAVA, Mexico) - Tiger brings the same intensity and passion to course design that he takes to his golf game. Read More

Minthis Hills: A New Way to Live on Timeless Cyprus

By Alma Kadragic 11/15/08 5:06 PM EST

(CYPRUS) - The whole world comes to Dubai to sell property, and as the once-overheated UAE market cools, international investors and vacation seekers attend property fairs in Dubai to find places like Minthis Hills in Cyprus, a luxurious development of... Read More

International Hotel Industry Braces for Rough 2009

By Alex Finkelstein 11/05/08 4:16 PM EST

(ROME, ITALY) - Despite plenty of cash available for new development, global hoteliers are bracing for a second straight year of rough waters in their industry, 450 delegates from 50 countries were told at the close of the sixth annual International Hotel Conference in Rome. Read More

Starwood Debuts 73-Story W Hong Kong in China

By Alex Finkelstein 11/03/08 1:43 PM EST

(KOWLOON, Hong Kong) - Starwood Hotels & Resorts Worldwide Inc. today opened its first W Hotel brand in China, the 73-story, 393-room W Hong Kong in Kowloon, Hong Kong.The property is owned by Sun Hung Kai Properties, the largest property... Read More

Emirates Airlines' New Terminal Ready for More Tourists as Flights to the US Increase

By Alma Kadragic 10/29/08 6:38 AM EST

(DUBAI, UAE) - The world's largest airport terminal, Dubai's Terminal 3 or T3, is approaching full function today as Emirates Airlines begins routing 60 percent of its arrivals and departures through the new facility. Opened two weeks ago on October... Read More

Emaar Chairman Stays Bullish on Dubai Property

By Alma Kadragic 11/11/08 9:24 PM EST

(DUBAI, UAE) - Mohamed Alabbar, CEO of Emaar Properties, used his platform as co-chairman of a prestigious summit of global financial leaders over the weekend to express confidence in the economic soundness of Dubai and real estate in Dubai. Mohamed... Read More

Emaar Gives Mortgage Payers More Time

By Alma Kadragic 11/07/08 10:07 AM EST

(DUBAI, UAE) - Even in the UAE where the world crisis in liquidity has been answered by sizable injections of money into the banking systems, some are feeling a pinch in available credit that they haven't experienced during the past... Read More

Economic Slowdown May Affect Dubai Mall

By Alma Kadragic 11/07/08 9:37 AM EST

(DUBAI, UAE) - Today is the beginning of weekend sales at Dubai Mall, so crowds are expected to fill the stores and food outlets ready to serve customers. In the UAE, the weekend is Friday and Saturday with Friday roughly... Read More

Emaar Announces Slowdown in Saudi Arabian Flagship Project due to Tight Credit

By Alma Kadragic 11/01/08 5:45 PM EST

(SAUDI ARABIA) - In a report published by London-based MEED (Middle East Economic Digest) magazine late yesterday, an Emaar official said that because of a shortage of credit in Saudi Arabia, work on King Abdullah Economic City is being delayed.... Read More