Bored of Real Estate

Don’t the HOA find out about Fight Club.

A Frisco HOA has told homeowners that they can’t have backyard boxing matches in their neighborhood. Not that I really care but it’d be nice if you could decide what your family and friends can do in your own back yard. Oh well.

Check the link for more info.

http://www.wfaa.com/news/local/HOA-says-it-wont-tolerate-fight-nights-in-frisco-neighborhood-92547159.html

The San Antonio Express reports that Developers now putting “transfer fees” into deed restrictions on property they develop. Basically, they’re imposing a fee (typically 1% of sales price) that is automatically paid to them every single time the property is sold. It’s like a perpetual money machine.

States are looking into ways to ban this practice but, like most things the government does, it’s slow and probably won’t work when they’re done with it.

Developers aim to attach transfer fee to homes

Looks like some investors in New York are going to lose their housing project since they failed to make their $16M loan payment in January. The property was originally bought in 2006 for $5.4 billion … though now it’s worth a paltry $1.8 billion.

I guess that’s one of the benefits of using “other peoples money”.

http://news.yahoo.com/s/ap/20100125/ap_on_bi_ge/us_stuyvesant_town