Mo. drops appeal of real estate ballot measure (AP)
| AP - An initiative barring taxes on home and land sales is clear to appear on Missouri’s ballot after the state dropped an appeal Friday of a judge’s decision ordering the election.
Con man could get life under Calif. 3-strikes law (AP)
AP - A man accused of bilking elderly South Los Angeles residents out of their homes in a foreclosure scam is facing a potential life sentence in a rare use of California’s three-strikes law for a white-collar crime.
Oil prices rise after mixed economic news (AP)
AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.
Summary Box: Mortgage rates hit low of 4.32 pct. (AP)
AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent.
MGIC added $1.2B in mortgage coverage in August (AP)
AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.
Kerry Buys Luxury Hong Kong Site
Kerry Properties bought a luxury residential site in Kowloon Tong for a higher-than-expected price at a government land auction.
Gold, silver rise as investors seek safer assets (AP)
AP - Wary investors turned to gold Tuesday, sending the price to its highest level in two months, despite slightly more optimistic economic news.
Capital Freeze Thaws for Real-Estate Funds
Real-estate funds saddled with boom-time properties are getting relief from Wall Street firms and other investors hoping to capitalize on their need for cash.
New Resorts Owners Roll Dice
Morris Bailey and Dennis Gomes are paying $35 million for Resorts Atlantic City, at a time when gambling revenue is declining and customers are being siphoned off to Pennsylvania venues.
Citigroup Gets Burned in the Caribbean
The bank is selling its mortgage on the Viceroy Anguilla to Starwood Capital Group at a hefty discount, the latest example of capitulation by a bank that has nursed a troubled real-estate project for years.