Saturday, August 20, 2011

Real Estate News: Turmoil Puts Hotel Deal on Ice - Developments - WSJ

Here is a look at real-estate news in today?s WSJ:

Turmoil Puts Hotel Deal on Ice: Cerberus Capital Management put off closing a deal to buy Innkeepers USA Trust amid market turmoil earlier this month, raising uncertainties around the hotel owner?s plans to emerge from bankruptcy protection.

Woman Loses House Fight: Patsy Campbell, a Florida woman who had drawn out the battle to save her house from foreclosure for more than 25 years, has finally lost her home.

SmartMoney: Pay Dirt: Skipping the Mortgage to Pay Your Credit Card: Fewer consumers are up to their eyeballs in credit card debt these days ? but for some, a lower credit card balance is coming at the expense of the mortgage.

MarketWatch: China Housing Markets Signal Cooling Trend: Fewer Chinese cities saw housing prices rise in July, with Beijing and Shanghai among markets that were little changed, indicating that government efforts to cool the market are showing results.

Europe House of the Day: Maltese Palace: This five-bedroom mansion, built around 200 years ago for a Maltese countess, was fully restored three years ago by its current owners, designers Carlo and Stefania Schembri.

N.Y. House of the Day: Creekside Modern in Sag Harbor: This home in Sag Harbor, N.Y., was built in 2009 with a glass walkway, salt-water pool and floor-to-ceiling windows that overlook Paynes Creek and Noyak Bay.

House of the Day: ?Sea Island Escape: The owners of this home on Georgia?s Sea Island replaced a roughly 80-year-old cottage with a two-story home that includes a screened porch, a pool, two fireplaces and terra-cotta floors.

Source: http://blogs.wsj.com/developments/2011/08/18/real-estate-news-turmoil-puts-hotel-deal-on-ice/

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