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    The founder and former chief executive officer of a private equity investment firm in the region will be sent to prison in connection with a securities scheme in which federal authorities say he fraudulently induced hundreds of individuals to invest a total of approximately $58 million in two real estate funds. Fairfield County resident Eric Malley, age 51, of New Canaan was sentenced to five years in prison on Thursday, Dec. 2. In addition to the prison term, Malley was sentenced to three years of supervised release and ordered to make restitution in the amount of $33,249,822.12 and forfeiture in the amount of $5,625,747.45. “For years, Eric Malley swindled investors through false promises about himself, his credentials, his track record, and the state of his real estate investment funds," US Attorney for the Southern District of New York Damian Williams said. "Today’s sentence sends an important message that there are grave consequences to such deception.” Malley had pleaded guilty on May 20, 2021. According to the allegations contained in the complaint, the Information to which Malley pleaded guilty, other court...
    Long before she began selling prime real estate in Los Angeles as documented on Netflix's "Selling Sunset,' Heather Rae Young was a Playboy Playmate. Young, who recently wed HGTV star Tarek El Moussa, reflected on her early career and one of the monumental moments that helped shape it: shooting nude spreads for the magazine founded by the late Hugh Hefner. It's been a decade since Young's modeling career, and while she's now a married stepmother of two, she insisted she has no regrets about going nude for the publication. "It catapulted my career, it changed my life, it was the most defining moment in my life," Young, 34, told The Sun. TAREK EL MOUSSA, HEATHER RAE YOUNG GET MARRIED: 'CHEERS TO FOREVER AND THEN SOME' "I don’t regret anything I’ve ever done. I’m proud of my life. Everything I’ve done has got me to where I am today," she added. Since tying the knot in October, Young has been sharing with her 1.9 million Instagram followers intimate, behind-the-scenes photographs of her wedding day to El Moussa, 40. She's raved in...
    SAN JOSE — A big north San Jose office building has been bought by a local real estate company, a sign that investors have maintained a healthy appetite for choice properties in the Bay Area’s tech hubs. The building, located near the interchange of State Route 237 and Zanker Road in San Jose, has been purchased by an affiliate of Menlo Equities, a veteran Bay Area real estate company. Holger Technology Partners, the Menlo Equities affiliate, paid $35 million for the building, which is at 300 Holger Way, according to documents filed on Nov. 24 with the Santa Clara County Recorder’s Office. KBS Capital Markets Group sold the building, a structure that totals 99,600 square feet. The building is part of the District 237 tech campus on Holger Way just off State Route 237. District 237, a tech campus on Holger Way in north San Jose, with a monument sign and some office buildings visible. ( Cushman & Wakefield ) At one point, KBS had owned all eight buildings in the office campus, a complex the real estate firm had bought...
    JASON and Brett Oppenheim are the founders of the Los Angeles property company featured in Netflix's Selling Sunset. The real estate magnates are said to have raked in millions. Here's more on the reality star brothers. 2Jason and Brett Oppenheim are twin brothers and owners of a real estate agency in Los AngelesCredit: Getty Images Who are the Oppenheim twins and how tall are they? Jason and Brett Oppenheim are the heads of the The Oppenheim Group, professional real estate brokerage serving buyers and sellers of luxury property in Los Angeles. The pair trained as lawyers before they went into the real estate business. Jason and Brett are often seen with the realtors towering over them, resulting in many fans wondering how tall the twins are. According to reports, the brothers both stand at five feet and six inches tall. Are the Oppenheim twins married? Jason used to be known as an LA bachelor, but confirmed his relationship with one of his employees, real estate agent Chrishell Stause, in July of 2021. The couple went Instagram official with a photo...
    ARE YOU fed up of working a boring 9-5 office job and barely having enough money once your bills are paid? Well, one woman has taken to TikTok to share her story of how she has £12 million in assets and it’s pretty impressive. 4Linda has taken to TikTok to reveal how she has made her fortune and how you can tooCredit: Tiktok/@lindafinance Linda, aka ‘lindafinance’ on TikTok has shared multiple videos detailing how she has made her fortune in real estate.  In Linda’s first year into real estate she had less then $500k in assets, but six years later, now has a whopping $17+ million in assets.  She said: “When you realise you started with a single family home at 21 years old and now you’re 27 with $17+ million in assets.” Linda revealed that it took her a couple of years to quit her job and do this full time but has persevered in order to succeed.   Linda is only 27 years-old but is able to afford a fancy BMWi8 thanks to her savvy business ventures. So how...
    Listings of apartments for sale displayed at a real estate office in Shanghai, China, on Monday, Aug. 30, 2021.Qilai Shen | Bloomberg | Getty Images BEIJING — Wild swings in Chinese real estate stocks and bonds are keeping investors on edge — these news headlines could cause troubles in the sector to spill into the rest of the economy, says S&P Global Ratings. While the plunge in Evergrande's shares has abated, the volatility in other Chinese real estate companies has continued this month. On Thursday, Kaisa shares briefly popped 20% after news it could stave off default. On the same day, a Shanghai-traded bond from developer Shimao plunged 30%, reminiscent of a sharp sell-off in the company's bonds earlier this month. "Headlines can hit sentiment and drive contagion," Charles Chang, senior director and Greater China country lead for corporate ratings at S&P Global Ratings, said in a report earlier this month. The risk Chang laid out is that news reports about defaults, or even the potential for default, could scare away Chinese homebuyers. And that drying up of demand would put developers out of...
    Kaisa Group Holdings Ltd.'s City Plaza development under construction in Shanghai, China, on Tuesday, Nov. 16, 2021.Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese real estate developer Kaisa announced Thursday plans for paying back investors, temporarily alleviating concerns about a default as China's property sector continues to face pressure. Kaisa's Hong Kong-listed shares popped 20% in the market open, before paring some gains. It was the first day of trading after a nearly three-week halt. The developer had suspended trading after missing a payment on a wealth management product earlier this month. "Repayment measures have been implemented" for about 1.1 billion yuan ($171.9 million) of the wealth management products, Kaisa said in a filing with the Hong Kong stock exchange. The developer said it's in negotiations about repayment of the remaining 396.6 million yuan in wealth management products. Separately, Kaisa said it would restructure offshore debt payments due in December by offering investors new bonds worth $380 million that are now due in 2023. The original U.S. dollar-denominated bonds were worth $400 million.VIDEO4:1904:19Asset manager is getting back in...
    Aerial view of 3030 Meadow Lane in Weston Florida at twilight.Daniel Petroni This 12,323-square-foot mansion recently hit the market with a $14 million price tag, making it the most expensive listing the city of Weston, Florida, has ever seen. The 27-square-mile city is about 31 miles northwest of Miami in the western-most part of Broward County. Its northern and western borders flank the Florida Everglades.Aerial view of the lakefront Monarch Estate in Weston, FL.Daniel PetroniThe seven-bedroom, 11-bath lakefront residence is in the Windmill Ranch Estates community, Weston's first residential development dating back to 1984, according the city's website. Weston has a population of 68,305, according the University of Florida's Bureau of Economics and Business Research. Its median household income is $107,908, according to the latest census data. "Weston is far enough from dense urban centers like Fort Lauderdale and Miami to give it a peaceful suburban feel, but it still gives residents easy access to bigger city life," said Senada Adzem, the property's listing agent. Real estate records show the most expensive home to ever sell in Weston fetched $7 million in...
    MIAMI (CBSMiami) – South Florida tourism officials, hotel operators, restaurant owners, and real estate executives are thrilled about the recent easing of COVID travel restrictions for Europeans and South Americans. Just ask Edgardo DeFortuna from Fortune International.  “We are receiving a lot of inquiries and comments that people are coming to Miami,” said DeFortuna. READ MORE: CBS4’s Jim Berry Chats With The Fantastic Four Finalists For The Nat Moore Trophy ????During the height of the pandemic, sales were made using Zoom or other internet connections but that was usually for foreign investors looking to park money, but for those from overseas who want to actually live in South Florida, DeFortuna is quick to say, “Nothing compares to being able to come and take a look.” Foreign investors make up a hefty percentage of those buying luxury condos and that market was off by 31 percent from April of 2020 to March 2021, but don’t feel too sorry for the condo developers or real estate agents and executives. The much-touted, Mayor Francis Suarez fueled, “Move to Miami” campaign brought in...
    The Republican National Committee is helping former President Donald Trump pay certain legal fees related to New York state's investigation into his real estate dealings. The RNC paid over $120,000 to defense attorney Ronald Fischetti, whom Trump hired in the spring to represent him while the Manhattan district attorney and the New York attorney general investigate his business. A source within the RNC told the Washington Post that Trump requested the committee pay for the fees this summer, and they were recently approved. MANHATTAN DISTRICT ATTORNEY CONVENES NEW GRAND JURY IN TRUMP ORGANIZATION CASE: REPORT “As a leader of our party, defending President Trump and his record of achievement is critical to the GOP,” the party told the Washington Examiner in a statement. “It is entirely appropriate for the RNC to continue assisting in fighting back against the Democrats’ never-ending witch hunt and attacks on him.” A spokesman for Trump also said the RNC has an interest in defending Trump from “witch hunts.” “The Democrats have become obsessed with weaponizing their offices against President...
    TEEN Mom 2 star Kailyn Lowry’s baby daddy Jo Rivera has a real estate empire worth over $1million, as he owns twelve Delaware homes.  Kailyn, 29, shares son Isaac, 11, with her ex-boyfriend Jo, who is also dad to daughter Vivi, 6, with his wife Vee, 30.  ????  Follow all our latest news & stories on Teen Mom. 9Kailyn Lowry's baby daddy Jo Rivera has a real estate empire worth over $1millionCredit: Getty 9Jo and his wife, Vee, live in a $186,000 homeCredit: MTV The Sun can exclusively reveal Jo, 29, has a real estate empire worth $1,020,250.  According to property records obtained by The Sun, Jo and Vee live in a four-bedroom, three-bathroom Delaware home.  They purchased the 2,480 square-foot home in 2015 for $186,000. The spacious house boasts a brick fireplace, jetted tub in the bathroom, walk-in closet in the master bedroom and more amenities.  The outside features an in-ground pool, deck and is an hour drive to the beach.  Vee has given fans updates on their remodeling journey, as she showed off their new bathroom featuring champagne...
    REALITY television show Selling Sunset is renewed for two more seasons. Along with Netflix's announcement of Selling Sunset's renewal, they announced two spin offs that are in production. 2Selling Sunset is a docusoap where high end real estate is front and centerCredit: YouTube/@Netflix What is Selling Sunset? Netflix's Selling Sunset was first released on March 21, 2019. The reality docuseries follows the professional and personal lives of various real estate agents who work for The Oppenheim Group. The Oppenheim Group is a luxury real estate firm that is located in Los Angeles, California. Founded by twin brothers Jason and Brett Oppenheim, The Oppenheim Group is the main focus of Selling Sunset. Most read in EntertainmentFINALE Iman Shumpert breaks down in tears after scoring Mirrorball trophyExclusive'NO ALERTS' Wendy's brother shuts down rumors host suffers from DEMENTIA in show absenceDEAN WHO? Tori ditches Dean as she poses with kids on Christmas card amid divorce rumorsS.O.S. Priyanka & Nick fans fear couple has SPLIT after she drops social media 'clue'TYRA-D OF THE DRAMA DWTS' Tyra claps back at viewers who claim...
    The median price for a detached home in Marin County was $1.67 million in October as the median continued to ease off its $1.8 million peak from the summer. The price figure was among the latest batch of monthly data released by the assessor-recorder-county clerk’s office. The October median was a 13% increase over the previous year. It was also a decline of about 2.5% from September. The median price is the point at which half the homes sold for more money and half for less. Median home prices for October exceeded the $2 million mark in Belvedere, Corte Madera, Larkspur, Mill Valley, Ross and Tiburon, according to the county. No area of Marin was below $1.1 million. Sue Pence, a listing agent for a $20 million sale in Tiburon in October, said the deal was noteworthy in that it included no foreign bidders, a circumstance she attributed to the coronavirus pandemic. Pence also said the sale was unusual for its speed. The waterfront property at 2900 Paradise Drive — which includes a 10-bedroom home and a potential helicopter landing...
    More On: kelly bensimon Alex Rodriguez texting Kelly Bensimon, has asked her out ‘more than once’ Jill Zarin says Bethenny Frankel was a ‘nobody’ when ‘RHONY’ started Kelly Bensimon claims she made Bethenny Frankel feel ‘insecure’ Kelly Bensimon teases Bravo return, questions if ‘RHONY’ cast is ‘really real’ She’s been hoping for a romantic home run. One month before Page Six exclusively revealed that Alex Rodriguez and Kelly Bensimon’s recent flirtation, the “Real Housewives of New York City” alum told us that she was interested in dating a sportsman.  Asked to describe her ideal partner, Bensimon, 53, said she was looking for a man who is “athletic” and “fun.”  The former reality star — who now works as a Douglas Elliman real estate agent representing multimillion-dollar properties in New York, the Hamptons and South Florida — went on to say that she is also in search of someone “similar” to her.  “My father always told me, ‘You have to find someone who’s like you,’” she elaborated. “Hardworking, really good family values, educated, mindful, kind to others.” Kelly Bensimon told...
    Gunther the German Shepherd spent a recent morning playing with his tennis ball, rolling in the grass, slobbering a little and napping a lot. Later, he had a “meeting” with the real estate agents selling his Miami mansion that his handlers bought from Madonna. And of course Gunther was wearing his very best faux diamond dog collar for the meeting — his real gold collar is back at his main home in Tuscany. As crazy as it sounds even by Florida’s standards, Gunther VI inherited his vast fortune, including the eight-bedroom waterfront home once owned by the “Material Girl” singer, from his grandfather Gunther IV. At least that’s what the handlers who manage the estate say. The Tuscan-style villa with views of Biscayne Bay went on sale Wednesday for $31 million — a whopping markup from the purchase two decades ago from the pop star for $7.5 million. The home also boasts a gilded framed portrait of Gunther IV over the living room fireplace. The dog’s lineage dates back decades to when Gunther III inherited a multimillion-dollar trust from...
    THE Girl Next Door alum is back to making headlines. Known as one of Hugh Hefner's girlfriends, Kendra Wilkinson is also an American television personality and model. 2Kendra Wilkinson became famous on The Girls Next DoorCredit: Getty What is Kendra Wilkinson's net worth? With a $2million salary, Wilkinson's net worth is an estimated $6million according to Celebrity Net Worth. Outside of her association with the late Playboy magazine publisher, Wilkinson is also a businesswoman and author. In 2005, she rose to fame on E!'s The Girls Next Door, as one of Hefner's main girlfriends, along with Holly Madison and Bridget Marquardt. That same year, she also was a sports columnist for the Philadelphia Eagles' website. more from kendra wilkinson HEF'S HOUSE OF HORRORS Kendra Wilkinson says Playboy mansion 'had animal feces everywhere'TOUCHDOWN! Where is Hank Baskett now?HEARTBREAK Kendra sobs & claims everyone 'gave up on her' & put her on the 'D-list'ExclusiveOFF THE MARKET Inside Christina Haack's new boyfriend's connection to her ex husband TarekExclusiveFAM FAME Christina Haack's new man's sisters are The Hills' Stacie...
    Kassidy Peters, the daughter of South Dakota Gov. Kristi NoemKristi Lynn NoemNoem formally launches reelection campaign South Dakota official says meeting with Noem had no effect on daughter's application South Dakota GOP lawmakers summon two employees for Noem inquiry MORE (R), announced Tuesday that she is relinquishing her real estate appraiser license and leaving the industry by the end of 2021 amid lingering scrutiny over whether her mother stepped in to help her obtain the license. Peters insisted in a letter to the South Dakota Department of Labor Tuesday that neither she nor Noem had committed any wrongdoing, but that the controversy had taken a substantial toll on her business. "I have thought quite a lot about what is best for me, my business, and most importantly, my family. The entire inquiry and media pressure have done irreparable damage to my business,” Peters wrote in the letter, referencing a legislative inquiry into the circumstances around her licensing. “I’m angry and I can acknowledge that this has successfully destroyed my business. My business is finished and the years I spent working to...
    South Dakota Gov. Kristi Noem's (R) daughter has decided to quit the real estate appraisal business amid speculation of conflict of interest. In a letter to South Dakota Secretary of Labor Marcia Hultman, which has been obtained by The Associated Press, Noem's daughter Kassidy Peters criticized a legislative inquiry into her application and the news reports detailing the situation. According to U.S. News, lawmakers were focused on the timeline of the Republican governor's meeting with her daughter and top officials within the government agency; the same decision-makers who played a role in denying Peters' application days earlier. "I am writing you today to express my disappointment and anger that my good name and professional reputation continue to be damaged by questions and misinformation concerning the Appraiser Certification Program," Peters wrote to Hultman in the letter. She also agreed to surrender her appraiser's license by the end of the year. "I'm angry and I can acknowledge that this has successfully destroyed my business," she added. READ: A growing threat is emerging from the theocratic wing of the GOP...
    KELLY Bensimon is a real estate agent, author and one of the editors of Elle Accessories. The former model appeared as a full-time cast member on the Bravo TV series The Real Housewives of New York City. 1Kelly Bensimon was a Real Housewives of New York City cast memberCredit: Getty Images - Getty Who is Kelly Bensimon? Benisom was born in Rockford, Illinois, on May 1, 1968. She made her name as a model and appeared in magazines such as Elle, Cosmopolitan, and Harper's Bazaar and Playboy. The Playboy shoot was photographed by her ex-husband Gilles Bensimon. She rose to television prominence as a member of The Real Housewives of New York City between seasons 2 and 4, and experienced an onscreen nervous breakdown while on a cast trip to the US Virgin Islands, according to Screen Rant. She is also an author, penning In the Spirit of the Hamptons, American Style, The Bikini Book and A Dangerous Age. She was the founding editor or Elle Accessories, but left after two issues. Most read in The US SunTRAGIC LOSS Chris...
    SIOUX FALLS, S.D. (AP) — South Dakota Gov. Kristi Noem’s daughter on Tuesday said she would quit the real estate appraiser business following scrutiny over whether her mother used her influence to aid her application for an appraiser license. Noem’s daughter, Kassidy Peters, slammed a legislative inquiry and news reporting on the episode in a letter to Secretary of Labor Marcia Hultman. She also released a document that a legislative committee was seeking to subpoena. Lawmakers were zeroing in on the timeline of a meeting Noem called last year that included Peters and key decision-makers in a government agency that had moved days earlier to deny her application for an upgrade to her appraiser certification. “I am writing you today to express my disappointment and anger that my good name and professional reputation continue to be damaged by questions and misinformation concerning the Appraiser Certification Program,” Peters wrote to Hultman in the letter, which was obtained by The Associated Press. KSFY first reported the contents of the letter. She told Hultman she would turn in her appraiser license by...
    More On: alex rodriguez Alex Rodriguez jokes about being single following Jennifer Lopez split Alex Rodriguez hosts luxe bash at Miami mansion for new NBA team Alex Rodriguez busy partying at NYFW as Bennifer 2.0 hits New York Alex Rodriguez poses with the Porsche he once gifted ex Jennifer Lopez Has A-Rod set his sights on former model and “Real Housewife of New York,” Kelly Bensimon following his split from Jennifer Lopez? We hear the former Yankee slugger, 46, has been texting the 53-year-old reality star-turned-real estate broker asking to hang out. “They have a cute and flirty text relationship,” says an insider. “Alex has asked her out more than once although she has not gone on a date with him.” A rep for Bensimon confirmed to Page Six that she and Rodriguez — who is an avid real estate investor — have been in contact. “They’ve been having a fun text relationship for the last couple of months,” says Bensimon’s rep. “She thinks he is charming and a gentleman.” Bensimon’s rep added, “They have mutual friends and she has been talking to him...
    SAN JOSE — Three big apartment complexes in the Bay Area have been bought for nearly a half-billion dollars by Canadian investors, an indication that buyers still hunger for this region’s properties amid coronavirus-linked woes. The apartment properties, located in San Jose, Pleasanton and Sunnyvale, are part of a $3.6 billion coast-to-coast deal through which Canada-based real estate firm Ivanhoe Cambridge bought 30 residential complexes with nearly 10,000 units. Ivanhoe Cambridge paid a combined $481.9 million for the apartment complexes, which were sold by affiliates of Greystar Real Estate Partners, according to documents filed in recent days with officials in Santa Clara County and Alameda County. The apartment complexes involved in the wide-ranging deal were Avana Almaden at 1070 Foxchase Drive in San Jose, Avana Stoneridge at 5505 Springhouse Drive in Pleasanton and Avana Sunnyvale at 355 N. Wolfe Road in Sunnyvale. Here’s how much the new owners paid for the apartment complexes, the county documents show: — Avana Almaden, 396 units, $196.7 million — Avana Stoneridge, 354 units, $172.1 million — Avana Sunnyvale, 192 units, $113.1 million Greystar Real...
    Q: Last night, we once again lost out to homebuyers in a multiple-offer situation. What is infuriating is that we were not allowed an opportunity to better our purchase offer after its presentation. In each case, our buyer’s agent presents our purchase offer, and within hours, learns that the property is under contract with someone else. Our buyer’s agent insists that we should have received an oral or written counteroffer before the home went under contract. In other words, our buyer’s agent says we should have received a phone call or counteroffer opportunity to “change price, terms or conditions that best suit the seller’s needs.” Regardless, after presenting last night’s offer, our buyer’s agent proactively had our loan officer call the seller’s agent and leave a voicemail lauding our qualification. Another 15 minutes later, our buyer’s agent called the seller’s agent and raised our offer price $20,000 by way of voicemail. Minutes later, our buyer’s agent received a rejection of our offer. Something is amiss. Why are we not getting oral or written counteroffers as our buyer’s agent insists is...
    THEIR father is famous for his millions and Ivanka, Eric, and Donald Trump Jr have amassed their own fortunes, through ventures like fashion lines to following in dad's real estate footsteps. Former President Donald Trump has five children — Donald Jr., Ivanka, Eric, Tiffany and Barron — and three of them are stakeholders of the Trump International Hotel in Washington, DC. 5Donald Trump Jr shares an Executive Vice President title with brother EricCredit: AP DONALD TRUMP JR Donald Trump Jr, the oldest child of former President Donald Trump, studied economics at the University of Pennsylvania and is now one of two Executive Vice Presidents of the Trump Organization. According to his bio on the organization's website, Donald Jr oversees an "extensive property portfolio" and "works to expand the company’s real estate, retail, commercial, hotel and golf interests." Donald Jr joined the organization in 2001, working at Trump Place in NYC, then lead the development of Trump Park Avenue. He also runs his own web store, selling merchandise that expresses support for his twice-impeached dad, and slams any critics or rivals....
    Meaningful and unique gifts that give back Dean Smith appointed new Norwich City manager $200 Sign Up Bonus Just In Time For The Holidays Ad Microsoft Refi With No Hidden Fees/Points – As Low as 2.02% APR Ad Microsoft Spend $500, Pocket $200 Fast with This Top Card Ad Microsoft Full screen 1/19 SLIDES © @arianagrande / Instagram To celebrate the 2021 American Music Awards on Nov. 21, Wonderwall.com is taking a look at the supportive significant others of this year's crop of nominees, starting with this icon's love... Ariana Grande -- who's nominated for artist of the year, favorite female pop artist, favorite pop album and favorite pop song -- is a newlywed! In May 2021, the "positions" singer married luxury real estate agent Dalton Gomez, to whom she was first romantically linked...
    Source: Douglas Elliman Pent-up demand, a roaring stock market and extremely low interest rates are melding together to create a record-breaking luxury real estate market in Manhattan. "Leading up to the pandemic, the high end of the market was the weakest segment of the market. However, since the end of the lockdown, it's inverted – where the weakest segment of the market is the lower end, entry level," said Jonathan Miller, president and CEO of real estate appraisal firm Miller Samuel. The third quarter saw the most sales recorded at all price points in Manhattan in more than 32 years, according to a recent report by Douglas Elliman. But the real heat is on properties priced above $4 million. "2021 has recorded the largest number of luxury contracts in the history of New York real estate," said Donna Olshan, president of Olshan Realty and author of the Olshan Luxury Report. According to Olshan, so far this year in Manhattan, 1,623 contracts were signed for deals with asking prices of $4 million or more — totaling about $14 billion in value....
    ARLINGTON, Texas (CBSDFW.COM) – The City of Arlington announced on November 11 that it would be partnering with Rehab Warriors on a program designed to provide residential real estate development skills to low and moderate income veterans. The Rebuilding the Fort program is designed to help veterans through job training, financial stability, and safe affordable housing. READ MORE: Collaboration Helps SMU Launch New Supercomputing Research SystemAndy Williams, who leads Rehab Warriors, also hopes that the program can help veterans transition from military service to civilian life. “Every veteran I know says we want to rebuild America. These communities can be rebuilt with the same purpose and passion we served overseas during the war. We can do it with our blood, our sweat, and our tears. When you think about the fundamental American dream, it starts with housing,” Williams said. “We are going to commit to building from the inside out and solving real problems and including both the veteran and the local residents in the process. We are not leaving until it is better.” The Arlington program is expected to include...
    VIDEO11:1711:17Is the U.S. in another housing bubble?Markets and Politics Digital Original Video During the Covid pandemic, home prices have shot up nearly nationwide while household income fell. As a result, homeownership became out of reach for many would-be buyers. However, affordability was a growing problem well before 2020 and the start of the pandemic. In the last decade, the median home price rose roughly 30% and incomes crept up just 11% over the same time period, according to a Bankrate analysis of data from the National Association of Home Builders/Wells Fargo Housing Opportunity Index. Over 50 years, the difference is even more striking. After accounting for inflation, home prices have jumped 118% since 1965, while income has only increased by 15%, according to a separate report by online brokerage Clever Real Estate, based on Census data. In effect, the pandemic-induced run on housing only worsened the affordability crisis for many potential home buyers, even with record-low interest rates on mortgages. To afford a home in 2021, Americans need an average income of $144,192 — far more than the median household income...
    With over-the-top glamour, jaw-dropping modern architecture, extravagent cars and a wild nightlife scene, billionaire's playground Dubai is dripping in wealth and excess. So where better to base a new series of the ultra-luxurious Real Housewives, with the show's executive producer teasing that the series will debut in 2022.  Last week, executive producer Andy Cohen announced the news on the Today show revealing: 'Everything's bigger in Dubai, and I couldn't be more excited to launch Bravo's first international Housewives series in a city I've been fascinated by for years, with an outstanding group of friends as our guides.' There are currently 15 international series of the hit show, including Real Housewives of Nairobi, Durban and Cheshire, made by oversease networks, but this will be the first one produced by the Bravo team behind the US programmes. The focus will be on 'a group of women navigating their relationships, careers and supremely lavish and ultra-wealthy lifestyles in the United Arab Emirates', but it's not yet announced who the cast will be.  However, there are definitely some frontrunners for a role on the...
    Tokyo (CNN Business)Evergrande is staring down about $8 billion worth of debt obligations due to foreign investors over the next year. The company's billionaire founder and chairman may have to pay at least some of that out of his own pocket.The embattled conglomerate has become the poster child of China's property crisis. Fears that the real estate developer could default and spark a contagion effect roiled global markets in September. In its latest financial stability report, the United States Federal Reserve warned that "stresses in China's real estate sector could strain the Chinese financial system, with possible spillovers to the United States."Evergrande has managed to meet some interest payments and stave off a collapse, at least for now. But a slew of new payment deadlines will soon expire. On Wednesday, a 30-day grace period is up on some $148 million worth of interest payments that the company already missed deadlines on.So far, there's been little clarity on how the company will shore up more cash. It's been trying to sell some of its assets — from a partial stake in...
    DALLAS (CBSDFW.COM) – A Dallas real estate developer was sentenced Tuesday, Nov. 9 to eight years in federal prison for bribing two former Dallas City Council members, Carolyn Davis and Dwaine Caraway. In June, a federal jury convicted Ruel Hamilton, the president of AmeriSouth Realty Group, of one count of conspiracy and two counts of bribery of an agent of a local government receiving federal funds. Hamilton was sentenced by Chief U.S. District Judge Barbara M.G. Lynn, who also ordered him to pay a $150,000 fine. “Even as he extoled his own generosity, Mr. Hamilton bought and paid for his influence at City Hall. He used money to ingratiate himself to lawmakers, subverting the democratic processes we hold dear,” said Acting U.S. Attorney Chad Meacham. “As my predecessors have said, the U.S. Attorney’s Office will not allow a kickback culture to fester at City Hall. Our prosecutors will not hesitate to pursue anyone involved in public corruption.” Ruel Hamilton (CBS 11) “Today’s sentencing reaffirms the FBI’s commitment to holding those who pay bribes, accept bribes, and facilitate bribe payments...
    SACRAMENTO (CBS13) – Potential squatters in Sacramento have vandalized a Tahoe Park home. The 14th Ave. home has been sitting vacant for five months as a real estate tech company tries and fails to sell it. With boarded windows and broken blinds, the Sacramento home is in bad shape. READ MORE: Storm Brings Rain To Northern California“It’s boarded up and vandalized and who wants to buy that,” said Tahoe Park neighbor Paige Moss who tells CBS13 the owners of the home moved out months ago. “One day they told us they were selling the house.” According to Sacramento County Sacramento County Assessor’s Office, real estate tech company Opendoor bought it on June 15, 2021. It’s been vacant ever since. “There’s constantly people breaking into the house unsavory people that make us not feel safe,” said Paige. For five months, neighbors on 14th Ave. say they’ve watched several crimes take place. “Coming home from work and seeing police cars out front and arresting someone that’s living in there. We’re talking about starting a family and it makes you think twice about that...
    (CNN)In February, Zillow appeared so confident in its ability to use artificial intelligence to estimate the value of homes that it announced a new option: for certain homes, its so-called "Zestimate" would also represent an initial cash offer from the company to purchase the property. The move, touted by a company exec at the time as "an exciting advancement," was intended to streamline the process for homeowners considering selling to Zillow as part of its home-flipping business. Zillow promoted this option as a way to make it convenient to sell a home while minimizing interactions with others during the pandemic. Just eight months later, however, the company is shutting down that business, Zillow Offers, entirely.The decision, announced last week, marks a stunning defeat for Zillow. The real estate listing company took a $304 million inventory write-down in the third quarter, which it blamed on having recently purchased homes for prices that are higher than it thinks it can sell them. The company saw its stock plunge and it now plans to cut 2,000 jobs, or 25% of its staff. ...
    Hong Kong (CNN Business)Troubles in China's vast real estate sector could spill over to the global economy — including the United States, according to the Federal Reserve.The US central bank warned Monday that China's ongoing property woes could elevate "financial stresses in China, [which] could further strain global financial markets and negatively affect the United States." In its biannual report on financial stability, the Fed pointed specifically to the crisis at Evergrande, China's most indebted developer. The company has sparked fears of contagion since September, upon warning that it could default on its debts of more than $300 billion. Several other real estate developers are also in trouble.Though "Chinese authorities have introduced measures to cool down property markets," there is a risk that "financial vulnerabilities will continue to rise," the Fed noted.The central bank warned that given the size of China's economy and financial system, and its global ties, "financial stresses in China could strain global financial markets through a deterioration of risk sentiment, pose risks to global economic growth, and affect the United States."Read MoreGhost towns: Evergrande crisis shines...
    SACRAMENTO (CBS13) – Potential squatters in Sacramento have vandalized a Tahoe Park home. The 14th Ave. home has been sitting vacant for five months as a real estate tech company tries and fails to sell it. With boarded windows and broken blinds, the Sacramento home is in bad shape. READ MORE: Police Searching For At-Risk Senior Missing In Sacramento“It’s boarded up and vandalized and who wants to buy that,” said Tahoe Park neighbor Paige Moss who tells CBS13 the owners of the home moved out months ago. “One day they told us they were selling the house.” According to Sacramento County Sacramento County Assessor’s Office, real estate tech company Opendoor bought it on June 15, 2021. It’s been vacant ever since. “There’s constantly people breaking into the house unsavory people that make us not feel safe,” said Paige. For five months, neighbors on 14th Ave. say they’ve watched several crimes take place. “Coming home from work and seeing police cars out front and arresting someone that’s living in there. We’re talking about starting a family and it makes you think twice...
    Ornamental statues at China Evergrande Group's Life in Venice real estate and tourism development in Qidong, Jiangsu province, China, on Tuesday, Sept. 21, 2021.Qilai Shen | Bloomberg | Getty Images BEIJING — The U.S. Federal Reserve warned Monday of potential spillover from China's real estate troubles to the U.S. financial system. Since this summer, highly indebted developer China Evergrande has rattled global investors as the company has attempted to avoid official default. Other Chinese developers have also struggled to repay debt, adding to concerns of wider fallout in the world's second-largest economy — roughly a quarter of which is driven by real estate. "Stresses in China's real estate sector could strain the Chinese financial system, with possible spillovers to the United States," the Federal Reserve said in its latest financial stability report, released twice a year. The report pointed to the size of China's economy and financial system, and global trade links. The bulk of the document discussed domestic U.S. financial conditions, from historically high stock market prices to risks from rapid growth in stablecoins — digital currency tied to...
    People look at models of houses at the 2021 Dalian autumn real estate fair at Dalian World Expo Center on October 15, 2021 in Dalian, Liaoning Province of China.Liu Debin | Visual China Group | Getty Images BEIJING — Worries about Chinese real estate developers' high debt levels have rattled investors despite signs that property giant China Evergrande may be making progress on resolving its debt problems. It's an indication of further pain to come in China's property market, analysts told CNBC. Since late summer, global investors have watched for Evergrande's ability to stave off official default — and are concerned about whether the fallout might spread to the rest of China's real estate industry. Other major developers have also reported liquidity problems in the last several days. Chinese property stocks trading in Hong Kong mostly fell last week. Evergrande was among the least affected and lost about 1.3% for the week. On the debt front, the Markit iBoxx index for China real estate high yield bonds fell 11.5% last week, according to IHS Markit.VIDEO10:0310:03Billionaire investor Thomas Tull talks China...
    By Anna Bahney | CNN Business Cosmos and Charisma Onyeyiri weren’t looking to sell their home. But skyrocketing home prices in Austin this summer had them curious: What would the home they bought for $360,000 two years ago sell for now? “We just had a baby. It was going to take a lot to get us to move,” said Cosmos Onyeyiri. But, he said, a pie-in-the-sky offer of $600,000 or more would be motivating. A few months later, that’s exactly what happened. The couple sold their home for $616,700 — without ever putting it on the market. But it wasn’t a typical homebuyer who made them their dream offer. It was Zillow. Over the past couple of years, real estate giants like Zillow and Redfin moved beyond online listings of available homes for sale, and started buying and reselling homes. But last week, Zillow announced it is getting out of the business, partially because it bought homes at higher prices than the company estimated it could sell them for in the future. The company said it was concerned about its...
                      by Ailan Evans  Zillow is closing down its home buying and selling business and laying off 25% of its workforce after the online real estate company missed its third-quarter earnings estimate. The company announced in a statement attached to its earnings report Tuesday that it would be shutting down its Offers program, which buys and sells houses, after the company reported a net loss, partly due to failures in its Offers division. Zillow attributed the change to its inability to accurately forecast the housing market. “We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility,” Zillow Group chief executive Rich Barton said in the announcement. “While we built and learned a tremendous amount operating Zillow Offers, it served only a small portion of our customers.” As part of the change, Zillow will also lay off 25% of its employees, or around 1,500 workers, over the next several months. “The most difficult part of this...
    NORTH TEXAS (CBSDFW.COM) — Jennifer ‘Jenna’ Ryan, a North Texas real estate broker, has been sentenced to prison for participating in the January 6th Capitol Riot. Ryan, who flew to Washington, D.C. on a private plane and livestreamed the events at the Capitol while promoting her business, was sentenced to 60 days in prison and ordered to pay a $1,000 fine. READ MORE: Orioles Reliever Hunter Harvey Reportedly Claimed By San Francisco Giants Jenna Ryan at U.S. Capitol (Court documents) The 51-year-old, who admitted that she “paraded, demonstrated, or picketed” inside the nation’s Capitol must also pay $500 to the Architect of the Capitol. Ryan tweeted Thursday afternoon. “I’m just gonna make a blanket statement to all the people that are calling me and texting me. You win!!! I’m going to prison. So you don’t need to contact me anymore. Pop champagne and then rejoice. But just leave me alone. Thank you.” I'm just gonna make a blanket statement to all the people that are calling me and texting me. You win!!! I'm going to prison. So you don't...