Inland Communications, Inc. announced today the auction of a model home located on the Ravine in East Highland Park, Ill. originally priced at nearly $4 million. The auction of the six-bedroom home, which will be sold subject to a minimum bid of $2.45 million, is part of the bank-ordered sale of a portfolio of foreclosed [...]

Home sales and prices in the Baltimore area fell in October, and experts said rising joblessness and tighter credit markets could further dampen sales in the months ahead.
The statistics released yesterday dashed hopes that a recovery had begun in Baltimore’s housing market, experts said.
Sales of previously owned homes in metropolitan Baltimore decreased nearly 15 percent [...]

Canada’s housing market showed some resiliency through September and October, as national new home prices unexpectedly rose two months ago while the rate of construction on new homes was higher-than-expected in October, a pair of reports said Monday.
Statistics Canada reported that new-home prices rose in September even as the year-over-year increase fell to its slowest [...]

If you’re a homeowner seeing property values plummet, look to the commercial real estate market for solace. It might tell you which areas will recover fastest - and which will likely remain weak.
The Urban Land Institute recently asked 700 real estate professionals to name the best (and worst) places to invest in commercial real estate [...]

British house prices fell slightly less sharply in the three months to October than in the three months to September, a survey showed on Tuesday, but home sales hit the lowest in at least 30 years.
The Royal Institution of Chartered Surveyors said its house prices balance rose to -81.8 last month from -84.5 in September, [...]

In a sign of worsening lending conditions, a British bank announced today it had stopped granting mortgages for UAE apartments and is now requiring a 50 per cent down payment for villas, a spokesman said.
“Due to exceptional global market conditions, Lloyds TSB Middle East has altered some aspects of its mortgage product offering,” the spokesman [...]

In a battered housing market, flooded with inventory and foreclosures, homebuyers can rope in great deals on bank-owned homes. California posted 69,548 foreclosure filings during September, earning it the third highest foreclosure rate in the nation among states, according to Realtytrac(R). Buyers will have the
chance to purchase a variety of foreclosed homes at great values [...]

Canadian housing market has not been seriously affected by the global economic slowdown so far, according to the annual rate of housing starts posted in October which showed a mild decline from the previous month, as the latest report by the Canadian Mortgage and Housing Corporation shows.
Starts of new homes have declined 3.1% from September [...]

“If You Can’t Sell, Remodel” has become the unofficial slogan for legions of American homeowners convinced that basement remodeling provides a practical alternative to labored attempts to sell homes for profit amid an economic and housing downturn. In the all-new report, Trends and Opportunities in the U.S. Basement Remodeling Market, market research publisher SBI forecasts [...]

The first snowy day in West Michigan means several things, including the home buying season is coming to a close.
Last month the Grand Rapids Association of Realtors released its latest numbers.
They reflect that banks are taking the worst hit.
The association is reporting 63% of all homes on the market are either short-sale, or in foreclosure.
The [...]