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Money's Worth

Hamptons Summer Rentals See Price Cuts
The recession is no day at the beach, even in New York's ritzy Hamptons and nearby Shelter Island. Asking rents for these three prime properties for Memorial Day through Labor Day are a bit lower this year than in 2008.

Property Search

AGENTS AND OWNERS: List your property with WSJ.com

Foreclosure Filings Up 81% in 2008
More than 2.3 million American homeowners faced foreclosure proceedings last year, an 81% increase from 2007.

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Savannah Smile
Tour a historic home in the heart of Savannah, Ga., The owners want to downsize, so they have put their 3,822-square-foot historic house on the market for $2.85 million.
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Dubai Tower Delayed Amid Cutbacks
Construction of a skyscraper slated to be the world's tallest is being delayed as Dubai struggles to avoid a hard crash.
Lennar Files Libel Suit Against Minkow
Home builder Lennar Corp. is lashing back at high-profile investigator Barry Minkow, who raised questions about the company's business practices last Friday and sent Lennar's stock tumbling.
- Read the complaint.
Construction Industry Counts on Obama
As the Obama administration assembles its stimulus plan, many contractors are lobbying for projects that will spend money fast rather than focusing on longer-term policy goals.
Commercial Sector in California to Worsen
California's Inland Empire has gone from a booming development smorgasbord to a basket case in a few years.
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Apartments Try to Stay Afloat
The rapid reversal of fortunes in commercial real estate is taking down yet another sector: apartment complexes.
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J.P. Morgan Cuts Use of 3rd-Party Brokers
J.P. Morgan Chase said it will stop underwriting prime mortgages that are originated through third-party brokers, relying instead on its vast branch network.
Short Sale v. Foreclosure
Is it better to negotiate with a short seller or look for a house that is already bank owned?
Judges Back Mortgage Legislation
Federal bankruptcy judges say they are eager to have the power to restructure mortgages for struggling debtors because it could save hundreds of thousands of homeowners from foreclosure.
Drop in Number of Homes Listed for Sale
The number of homes listed for sale declined in many areas in December, but the drop was smaller than has been typical for the holiday period.
- Interactive Graphic: Seasonal Dip
Should You Refinance?
Yes – if you plan to stay awhile. But homeowners should consider alternative ways to save money long-term, writes Brett Arends.
Chinese Drywall Cited in Building Woes
Chinese-made drywall used in Florida is causing unpleasant odors and possibly leading to electric problems in dozens of homes constructed during the housing boom.
Cave Dwelling In Laurel Canyon
According to local lore, the cave was a Prohibition-era hot spot for Hollywood celebrities. Its current owner uses it for her shamanic practice.
Mortgage Bill Clears a Hurdle in Senate
A Senate bill meant to give homeowners more leverage in renegotiating their loans cleared a hurdle as Citigroup dropped its opposition.
- Heard: Banks to Lose a Security Blanket
Ex-Realtors Official: Don't Blame Messenger
David Lereah is one of many prognosticators who won accolades during the housing boom, only to see their reputations wither in the bust.
Beazer Homes' Orders Fall 56%
Nets Arena May Be Scaled Back
Midcentury Memories
A-Rod Cuts Mansion's Price
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KB Home Posts $307 Million Loss
Lennar Hit by Claims on Off-Balance Sheet Debt
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Fannie Mae Tests Foreclosure Alternative
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Commercial Property Loses Shelter

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A Delaware Beach House
Tour a vacation home on Delaware's Rehoboth Beach listed at $2.25 million.
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An Expansion Project in Washington State
What started as a desire for more closet space led one couple to triple the size of their property. The 22,779-square-foot home, reduced to $34.95 million, has been on the market since 2004.

Developments

Toolkit

Buying & Selling

Hitting the Home Gym
For those with New Year's resolutions to get in shape, here are three homes that feature their own fitness facilities.
An Oasis in Maine
An Adobe Haven in Santa Fe

Second Homes

Ski-In, Ski-Out Convenience
For skiers, nothing says luxury so much as an ideally situated ski-in, ski-out home. Here are three such ski properties on the market.
All in the Skiing Family
Plymouth Places

Home & Garden

Happiness Is a Warm Snowblower
Harsh winter weather and frugal spending may have cast a pall on most retail sales, but the snowblower is proving recession-resistant.
A Snowthrower Smackdown
Greene & Greene: In a Gallery and On Site

Commercial

As Vacancies Grow, Landlords Open Wallets
Landlords in the U.K. are expected to step up tenant incentives as office buildings, shopping centers and other commercial property head for another year of falling values.
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General Growth Faces Debt Deadlines
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Tarragon Files for Chapter 11

Columns

About the house
By Gwendolyn Bounds
Saving Energy on the Cheap
House talk
By June Fletcher
Short Sale v. Foreclosure

U.S.

Happiness Is a Warm Snowblower
Harsh winter weather and frugal spending may have cast a pall on most retail sales, but the snowblower is proving recession-resistant.
- A Snowthrower Smackdown
- Video: Handling the Hefty Duty of Hurling Snow
Rates Fall, but Refinancings Are Limited
Interest rates on home loans have fallen to 4.89%, but lenders say as many as half of those who want to refinance won't be approved.

Real Estate Video

marketplace

Breaking the Mold

“It seems a lot of the innovation wasn't in how houses were built or how they look or function. Instead the novelty was in financing.”
—Tom Kundig, principal, Olsen Sundberg Kundig Allen Architects

Q: If an average, middle class family is going to buy their first home in the near future, is now the best time to take advantage of the lower prices or should they wait a couple of months to see if the housing market will go down a little further?

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