Daily Market Update: Real estate millionaire heir arrested on murder charge

by MPA16 Mar 2015
Real estate millionaire heir arrested on murder charge
Robert Durst, the millionaire heir to real estate company The Durst Organization has been arrested in New Orleans. The Washington Post reported that Durst has been charged with murder and was arrested on an extradition request from Los Angeles.

The arrest is linked to the murder of Durst’s friend Susan Berman 15 years ago. His lawyer says that Durst maintains his innocence and has advised him not to fight the extradition. Read the full story.
Securing a mortgage is easier than a year ago
The latest Zillow Mortgage Access Index shows that it is “significantly easier” for borrowers to secure a home loan now than it was a year ago.

The report revealed that many Americans who were unable to qualify for mortgages with private lenders due to low credit score or downpayment are now being accepted by those lenders; opening up options other than FHA loans.

The data also showed that mortgages were easiest to obtain in 2004 but became tighter over the following years and were hardest to obtain in 2010.
Why stories are becoming as important as storeys
In the glitzy world of New York’s luxury homes market adding value to a property is beginning a new chapter. In this sector every home has a great kitchen and multiple bathrooms and many of the other value-boosting amenities are commonplace. So what really sets a property apart from its peers? A great story!

The New York Daily News reported that sellers and their agents are increasingly looking for an interesting tale to help peak interest in their homes. It could be a former celebrity owner, the building’s former usage or even stories of the salacious or macabre.

“Buyers eat up a good story,” said luxury broker Jed Garfield of Leslie J. Garfield & Co. Brokers say that the stories help listings stand out from the crowd and added interest usually means added value. Read the full story.
Tucson prices increased in February
Median home prices in Tucson, Az. increased in February after falling in the previous month. Tucson Association of Realtors reported that resale homes sold through the MLS increased by an average of 7.45% from January to February to $209,403.

That’s an increase of 6.52% from February 2014. The median price was $167,000; up 4.21% in a month and 5.7% from a year earlier. Listings were up by 16.15% in February compared to the previous month. Tucson realtors predict a modest improvement in the local market this year.


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