• Real Estate

    Lawsuit claims Oregon’s real estate ‘love letter’ ban stifles free speech

    Free speech advocates have filed a preliminary injunction against Oregon’s new law banning love letters from prospective home buyers. Kristian Foden-Vencil / OPB Free speech advocates have filed a preliminary injunction against Oregon’s new law that bans so-called “love letters” from prospective home buyers. Total Real Estate Group out of Bend wants a federal judge to block Oregon’s law before it goes into effect in January. The law would stop real estate agents from passing along personal pitches to sellers. Proponents say these letters can be the only edge a first-time buyer has against deep-pocketed investors that buy up entry-level homes to flip or rent out. The concern is that…

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  • Real Estate

    A peek inside the most expensive home for sale in Weston, Florida

    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 westernmost part of Broward County. Its northern and western borders flank the Florida Everglades. Aerial view of the lakefront Monarch Estate in Weston, FL. Daniel Petroni The 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 to…

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  • Real Estate

    Luxury real estate booming on Upper East Side in NYC

    The once sedate Upper East Side is suddenly sizzling as luxe home sales are surging after being cratered by the pandemic. More contracts for homes priced at $4 million and up were signed on the Upper East Side than in any other Manhattan neighborhood during the first week of November, according to a report compiled by Donna Olshan of Olshan Realty. Among the eye-popping deals were two penthouse units combined into one with an asking price of $66.5 million. The apartments are in The Bellemont, a condo building at 1165 Madison Ave. designed by famed architect Robert A.M. Stern. An undisclosed buyer snatched up what will become the 13,011-square-foot home…

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  • Real Estate

    How the Real Estate Boom Left Black Neighborhoods Behind

    As Martavius Jones, a Memphis city councilman, points out, construction outside the city limits was heavily subsidized by city-owned Memphis Light, Gas & Water, which provided new power and gas lines to areas that didn’t pay city taxes, generously underwriting the eastward march of wealthy whites fleeing integrated schools. “My maternal grandmother lived in a little old house on Josephine Street,” Jones says, referring to an Orange Mound address. “I think about all the little old ladies and little old men who constantly paid their taxes, and those taxes went to build up the infrastructure outside the city limits of Memphis.” Americans aren’t accustomed to thinking of utilities and other…

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  • Real Estate

    $29M property offered exclusively in Bitcoin

    Slowly but surely, Bitcoin (BTC-USD) is being used to purchase everyday items like coffee and cars — and now, real estate is also joining the party. The first commercial property in New York is being put on the market for digital coin. Magnum Real Estate Group is selling three retail condos complete with a fully rented-out retail bottom floor in Manhattan’s upper East side for $29 million — but will only accept Bitcoin. Located at 385 First Avenue in a new construction luxury residential building in Gramercy Park, the condos cover 9,000 square feet, and the bottom floor is fully leased by ProHealth, Mighty Pita and M&T Bank. “There’s a…

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  • Real Estate

    Will Real Estate Ever Be Normal Again?

    Then there was a 35-year-old tech worker in Long Beach, Calif., who bought a house in Round Rock for $300,000 last October. By January 2021, it was worth roughly $400,000; in February, he bought two more. His winning bids were two of dozens that his real estate agent, a former equities trader who now works primarily with individual investors, made sight unseen, all of them for at least $40,000 over the asking price. “I’m part of the problem,” the buyer acknowledged to me, though he was not your stereotypical speculator: Despite earning six figures, he drives a 2005 Honda Civic and, when I spoke to him, was renting a room…

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