Real Estate Posts

Earthquake Safety for You + Yours

• Doorways are no stronger than any other part of the structure. During an earthquake, get under a sturdy piece of furniture and hold on. This will provide some protection from falling objects that can injure you during an earthquake.
• Become aware of fire evacuation and earthquake plans for all of the buildings you occupy regularly. Be sure your tenants know escape routes.
• Pick safe places in each room of your home, workplace and/or school. A safe place could be under a piece of furniture or against an interior wall away from windows, bookcases or tall furniture that could topple over.

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By Jodi Summers

The headlines are better than reality. For example, check out the U.S. Bureau of Economic Analysis (BEA) title for Q1-2011 U.S. Corporate Profits release: Strong Non-Financial Corporation Profits, Struggling Financial Sector Profits.

The numbers look good too. BEA notes that overall U.S. profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased by +$48.7 billion in the first quarter of 2011, after an increase of +$38.2 billion in the fourth quarter of 2010.

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Homeowners facing foreclosure can now tap into a $1 billion program of emergency loans to help tide them over a temporary financial crisis, the Department of Housing and Urban Development (HUD) has announced.

Beginning today, homeowners in 27 states can file preliminary applications for the Emergency Homeowner’s Loan Program (EHLP). Eligible homeowners can obtain interest-free loans of up to $50,000 to help cover mortgage expenses for up to two years.   The program is available to homeowners who have seen their incomes fall and who could lose their homes to foreclosure due to circumstances beyond their control, including involuntary unemployment, underemployment, economic conditions or an illness.   Read more…

It’s a down real estate market, even for the super rich. Andrew Osinski, a former managing director of Global Asset Management at Lehman Brothers, found that out a year ago when he listed his French Norman-style estate in Darien, known as Cove House, for $12.5 million.

Thirteen months later, with no takers, the house will be auctioned Saturday to the highest bidder, regardless of price.

The estate, on 2 acres next to Scott’s Cove and entry onto Long Island Sound, has five bedrooms, seven bathrooms and four fireplaces, with a manor home, guest cottage and private dock overlooking the ocean. The master suite has a sunken stone bath, custom closets, and windows that allow a panoramic view of the cove.

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