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Archives: April 2007

Vacation Time for Real Estate Investors

Posted by: Chris Palmeri on April 30

Data released today from the National Association of Realtors reveals the shifting nature of the real estate market. The number of homes purchased as investment property fell sharply, down 28.9%...

WaMu's New Loan: A Home Equity Line Is Built In

Posted by: Peter Coy on April 28

Overall, I have to say I like Washington Mutual's WaMu Mortgage Plus, a loan that was introduced nationwide yesterday. It has a home equity line of credit wrapped in, so...

Short Story

Posted by: Chris Palmeri on April 27

A story in the latest issue of the magazine highlights the increasing number of homes being listed as “short sales,” i.e. they’re selling for less than what the homeowner owes...

Anyone have an agent horror story like this one?

Posted by: Dean Foust on April 26

It's been more than eight years since my wife and I sold our house in Alexandria, Va., and moved to Atlanta, where we still live. And I still seethe over...

Prices down around the country (except Portland, Charlotte and...what's going on in Seattle?)

Posted by: Dean Foust on April 25

Home prices declined in 17 of 20 key housing markets over the past year, according to the S&P/Case-Shiller(R) Home Price Indices (which is produced by Standard & Poor's, which--disclosure alert--is...

Guest Blog: Banks Thrive While Borrowers Dive

Posted by: Peter Coy on April 24

Here's a guest blog from Mara Der Hovanesian, BW's banking and finance editor, who has written frequently about the housing mess. She wrote last year's cover story, "How Toxic Is...

Coming soon: Tallest building in the U.S.

Posted by: Dean Foust on April 23

You probably saw the news last week that architect Santiago Calatrava unveiled plans for the Chicago Spire, which, if completed, would stand as the tallest building in the U.S., taller...

Announcing the 1st annual Hot Property "Ugliest House Ever" contest...

Posted by: Dean Foust on April 23

As the old saying goes, you can’t buy taste. Exhibit A: The $30 million home (compound?) that publishing tycoon Duane Hagadone built in Palm Desert. According to this account...

The next housing bubble?

Posted by: Dean Foust on April 23

You think housing prices got out of control in Las Vegas and San Diego? Consider the escalation of real estate prices on Entropia Universe, a virtual world where one participant...

The next bailout?

Posted by: Dean Foust on April 23

Given all the political posturing in Washington over whether we should have a federal bailout or lifelife for subprime borrowers (some advocacy groups are lobbying for at least a six-month...

Small Apartment Contest

Posted by: Peter Coy on April 21

This bedroom is in a 546-square-foot junior 1-bedroom apartment in the Chelsea neighborhood of Manhattan. Its tenant calls it "Sarah's Modern Glam Palace." To see more glamorous small apartments,...

Zillow and 'Zona Duel Over Zestimates

Posted by: Peter Coy on April 20

Check out my online article today about the Arizona Board of Appraisal trying to stop Zillow from issuing Zestimates in the state--on the grounds that the Zestimate is an appraisal...

Attention, Joel Kotkin: Urban Residential Construction Is Booming

Posted by: Peter Coy on April 19

Joel Kotkin is one of the leading exponents of the idea that suburbs are good, sprawl isn't so bad, and the vast majority of Americans really want to get out...

San Antonio and Austin: Overvalued?

Posted by: Peter Coy on April 19

Texas never had the big housing price run-up of the East and West Coasts. Even the biggest bubble believers have generally acknowledged that Texas was considerably less frothy than,...

The Joys of Really, Really Big Houses

Posted by: Peter Coy on April 17

A day after writing about the joys of small houses, I came across the real estate ad for a house in Aspen, Colo., that's being sold by a Saudi prince...

The Joys of Small Houses

Posted by: Peter Coy on April 16

Let us pause in our worship of square footage and his 'n' her master bathrooms to count the joys of the small house. 1. There are fewer places for things...

Zillow Keeps the Innovations Coming

Posted by: Peter Coy on April 13

Hand it to Rich Barton and company: is keeping the innovations flowing. The company is probably still best known for its Zestimates--estimated market values of most of the houses...

The Toenail Factor

Posted by: Chris Palmeri on April 12

For Jeff Mezger, chief exec at KB home (that's him at right), one telling indicator of home prices is the differential between new homes (that's what he sells) and existing...

Tax Tips for Landlords

Posted by: Chris Palmeri on April 12

With the April 17 tax day deadline almost upon us, you should be done or almost done with your return. But just in case, here's a last minute list of...

Trump redux

Posted by: Dean Foust on April 12

Turns out there was more to the “Donald got trumped”-in-a-troubled-Tampa-condo-project than I realized. Just turned up two stories in the St. Petersburg Times newspaper (“Frustrated buyers sue…," and “Buyers can...

Pressure on Appraisers

Posted by: Peter Coy on April 12

Four appraisal organizations said today that they don't think the government is doing enough to ensure independent appraisals of property for mortgage loans. The biggest of the four, the Appraisal...

Snake Eyes for Vegas Realtors

Posted by: Chris Palmeri on April 10

Yesterday the Las Vegas Review-Journal ran an interesting story about the glut of Realtors in Nevada. The number of licensed agents in the state more than doubled over the past...

The Donald "trumped" by condo bubble

Posted by: Dean Foust on April 10

As I've traveled on business, it seemed that Donald Trump's mug was on billboards in every large city I visited. In most cases, the billboards were advertising some big real...

Among the losers: Condo associations

Posted by: Dean Foust on April 10

In cities where investors were diving into condos on hopes of flipping it for a quick profit, there's a new trend: When said buyers realize they made a losing bet...

The Rental Market Tug-of-War

Posted by: Chris Palmeri on April 09

There are two schools of thought on what will happen to apartment rents now that the housing market is slowing. The University of Southern California's Lusk Center for Real Estate...

How to Comparison Shop for Mortgages

Posted by: Peter Coy on April 09

Wouldn't it be nice if somebody came up with a simple way to compare various types of mortgages side by side--not only their starting payments, but what they'll cost you,...

The Housing Roller Coaster

Posted by: Chris Palmeri on April 06

TV shows have been created, books written, endless columns of newspaper and magazine articles devoted to the housing bubble. Now, it's Youtube's turn. I may be late in viewing this,...

Promoting Homeownership--Wisely, for a Change

Posted by: Peter Coy on April 06

I don't always agree with Scott Syphax, the CEO of non-profit Nehemiah Corp., but I think he has a fair point this time. Syphax strongly believes that homeownership is a...

How to Profit from Foreclosures

Posted by: Chris Palmeri on April 05

With headlines of higher default rates for subprime mortgages a daily occurance is there a way to profit from other people's woes? Yeah, there is. The folks at have...


BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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