Supreme Court rules that settlement fees don't violate RESPA (JD Supra) The Supreme Court resolves a split between circuits by ruling that settlement service providers can charge "unearned" fees as long as they don't share them.
Fannie Mae: Home prices expected to rise tepidly over the next year (Fannie Mae) Prices are expected to rise 1.4% over the next 12 months as the recovery once again seems halted and consumer confidence ebbs.
L.A. based CommonWealth Partners plans $6B in real estate investment (Wash Business Journal) The investment company will join with CalPERS to focus on real estate investments around the country, including D.C.
Developers cool on Corcoran Gallery reuse (Washington Business Journal) Developers say the need for upgrades and odd configuration of the building make it hard to envision the building as office spaces or residences.
Your Next Place
Sunday, June 10, 2012
One thing I've learned is that when you go to apartment buildings, the foyer is always far far nicer than the apartments. You'll be in a huge marble atrium with a roaring, gold-trimmed fireplace, walking on a red velvet Oscar-night-style carpet, thinking you're about to enter the lap of luxury, but then the place will be a broom closet with a kitchenette. But this place - this is the first I've been to that was nicer - way nicer - than the lobby. And bigger. If you lived here, your neighbors would constantly be bugging you to let them come over and watch the big game, or sunbathe on your terrace, etc. I'd suggest investing in a taser.
I mean, there's not really a lot I can add to the photographs. This is like a place George Clooney would live. Limestone flooring, plaster moldings, a silver leaf painted rotunda ceiling (!), a Vegas presidential-suite-quality master bedroom, with an en suite bathroom the size of a helicopter landing pad. All this place is missing is a huge veranda with an ivy-covered stone arch overlooking the Potomac. OH WAIT IT HAS THAT TOO.
When most places say they overlook the water, it means yes, you can see the water, if you squint and stand on your tiptoes and look between those two trees over there. But you could actually jump from this veranda into the Potomac, if you wanted to. Not that you'd want to, though on the other hand if you were, say, sitting out there playing Scrabble and losing really badly to your sister's boyfriend, and he started smirking as you spelled out "cat," then why not just heave the whole board into the river? When I did this, we didn't have a water view, so it just landed in the yard and I had to go downstairs and retrieve it while my family watched from above in disappointment. Really could've used a water view that day.
3030 K Street NW
Penthouse 106
2 Bedrooms, 4.5 Baths
$6,500,000
Morning Real Estate Review
Friday, June 8, 2012
The nasty logistics of inclusionary zoning (Slate) The idea of allowing low-income people to buy subsidized units runs into the reality that those people still can't qualify for a mortgage.
Walmart making its urban debut (Governing) The giant retailer is expanding its presence in Chicago and Atlanta as it prepares its first stores in Washington D.C., as controversy remains.
Gaylord's planned reorganization (Costar) The entertainment operator is converting to a REIT, selling its brand, and giving Marriott management control of 4 of its hotels.
Mortgage rates plunge to new lows (Housingwire) After a few days of ticking up, rates once again plunge to record territory.
Walmart making its urban debut (Governing) The giant retailer is expanding its presence in Chicago and Atlanta as it prepares its first stores in Washington D.C., as controversy remains.
Gaylord's planned reorganization (Costar) The entertainment operator is converting to a REIT, selling its brand, and giving Marriott management control of 4 of its hotels.
Mortgage rates plunge to new lows (Housingwire) After a few days of ticking up, rates once again plunge to record territory.
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