Buying A Famous Haunted House Can Be A Money Pit

Buying A Famous Haunted House Can Be A Money Pit

Even if you’re not into specters, wraiths, revenants, and poltergeists, it might seem cool to snap up a run-down old house that everyone thinks is haunted, especially if you can get it for a deal. Aside from the fact that your sassy best friend will be impaled on the fence in Act III and your fiance(e) will be presumed dead until she/he makes a heroic gesture to save you in the final act, you might want to reconsider because having an infamous home can just be a very real pain in the rear end. [More]

Former City Councilman Warns Residents: Walmart Shoppers Will Bring Down Property Values

Former City Councilman Warns Residents: Walmart Shoppers Will Bring Down Property Values

Everyone has an opinion on Walmart and the impact it has on a community whenever a new store is opened. But some residents of Kansas City suburb say a former city councilman went too far when he recently distributed a letter claiming that a new Walmart in the area would attract an undesirable element and ultimately result in a drop in property values. [More]

$1 Homes For Sale In Indiana, But Don’t Go Counting Quarters Just Yet

$1 Homes For Sale In Indiana, But Don’t Go Counting Quarters Just Yet

When you hear that Gary, IN, has a dozen homes for sale for $1 each, you might be inclined to dig into your wallet and ask, “Will you take a 10-spot for the whole lot of them?” But these home aren’t available to just anyone with four quarters to rub together, so nearly 94% of interested buyers have been turned away. [More]

"When Cameron was in Egypt's land... Let my Cameron go..."

If you’ve ever dreamed of living out your ’80s movie fantasy of rolling a Ferrari through the glass wall of a very expensive home, that dream just got less expensive. Two years after dropping the price on the A. James Speyer-designed home (best known as Cameron’s house in Ferris Bueller’s Day Off) from $2.3 million to $1.65 million, the sellers have dropped the asking price again to a mere $1.5 million. It’s a steal! [via]


Drop In Number Of First-Time Home Buyers Is Cause For Concern

The notion of buying your first home, building equity, and eventually moving up the property ladder is still something many young Americans aspire to, but between more stringent underwriting procedures, lingering student loan debt, competition from real estate speculators and higher interest rates, first-time buyers are being squeezed out of the market. [More]


Wealthy Americans Face Catastrophic Shortage Of Mansions

As the housing market heats up, there’s one population that is truly suffering: rich people. As houses don’t stay on the market for long, houses priced at $1 million or more are in short supply. [More]

(tina kugler)

5 Signs You’re Gazing Into A Money Pit, Not Buying A House

There are responsibilities that come with the joys of home ownership, like paying property taxes and repairing things that go wrong. Some houses are pits into which you can expect to throw all of your time and money for the foreseeable future. You can’t magically predict which houses these will be, but there are some warning signs that our domesticated cousins over at Consumer Reports rounded up. [More]


Are Wall Street Investors Pumping Up The Next Housing Bubble?

Areas like Las Vegas, Phoenix, and Miami — all hit pretty hard by the collapse of the last housing bubble — are now seeing home prices rise at rates above the national average. But rather than this being an indicator that these areas are finally recovering, some worry that it’s just a lot of hot air being pumped into another bubble by Wall Street investors. [More]


Real Estate Political Correctness: ‘Master Bedroom’ Becomes ‘Owner’s Suite’

Anyone can own a house. Why, women are even allowed to own property all by ourselves now! That’s why we suppose it’s good that The word “master,” with its connotations of slaveholding and maleness, is slowly fading from its intended use in the residential real estate business. [More]

Finally, an affordable piece of movie real estate history.

Usually if you want to buy a house featured in a famous movie, like The Godfather or Amityville Horror, you need to pony up seven figures. But the 3-bedroom, 1.5-bath South Philly rowhouse from Rocky II (aka, the one where Rocky finally wins) is up for sale for the completely reasonable price of $139,000. [via]


Man Lives In Tiny Apartment For 15 Years So Of Course Now Authorities Kick Him Out

If you think the real estate market is bad here in the U.S., can you imagine subjecting yourself to an apartment so small you couldn’t stand up in it for 15 years? That’s a lot of years worth of stooping and otherwise being cramped as all get out. A man in Paris has been dealing with cramped quarters for years but now that authorities are on his case, he’s been booted from his tiny abode. [More]


Report: U.S. Home Prices Up 7.4% Over A Year Ago

If the price of your home took a beating when the housing bubble burst, or if you bought a home in recent years and have been waiting for prices to trend upward, the data on one new report should be good news. [More]


As Offline Retail Dies, Commercial Real Estate Apocalypse Looms

As we do more and more of our shopping while sitting on our couches in our pajamas with an Ultrabook, we’re destroying a glorious American institution: the mall. Realspace retailers large and small alike have gone bankrupt and shut down or scaled back: a process that the recession only sped up. The best case scenario? Those former malls might become community colleges or gain some condos. What’s more likely? Rotting husks of shopping centers dotting our cityscapes, dragging down property values and making everyone sad. [More]


Downsizing Your Home Might Not Make Retirement Any Easier

If you’re at or nearing retirement age and living in a house with rooms you don’t use, it would seem to make sense that you could save by downsizing to a smaller abode. But unless you have significant equity on your home and are willing to make big changes, that might not be the case. [More]


Homeowner Says He Lost $250K In Equity To Foreclosure

When a property is sold at foreclosure for more than what is owed on the mortgage, the homeowner is supposed to receive that difference. But what happens when the bank sells the home for hundreds of thousands of dollars less than what it is worth? [More]

(Stephen Baack)

If You Buy A House Next To A Golf Course, Don’t Be Surprised When Your Lawn Is Littered With Balls

There are some real estate surprises that are actual shocks — oh, look, someone covered up some nice built-in shelves! — but then there are things that shouldn’t be seen as out of the ordinary. A couple in Montana bought a home nestled along the 18th hole of a golf course and subsequently sued the golf club and the county because they were annoyed at golf balls landing in their yard. Again, they bought a home basically on a golf course where there will no doubt be golf balls flying everywhere[More]


Homeowner Realizes Too Late That A Home Inspection Is Better Than Uncovering A Mouse Infestation Later

Talk about a nightmarish scenario: A Canadian woman discovered that the $1 million house she’d just bought had a mouse infestation so thoroughly  entrenched that she’s had to rip apart the home down to the framework to get rid of it. So how did she miss it before buying the home? She says she didn’t get a home inspection. [More]

Couple Says Church Wouldn't Let Them Buy Mansion For Fear They'd Turn It Into Gay Wedding Site

Couple Says Church Wouldn't Let Them Buy Mansion For Fear They'd Turn It Into Gay Wedding Site

Potential homeowners may have a slew of ideas for what they’d do with a house once it changes hands, but is it discrimination to prevent someone from buying a property because of what that home could become after the sale takes place? A gay couple in Massachusetts says that’s the case with a mansion the Roman Catholic Diocese of Worcester is allegedly refusing to sell them. [More]