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July 6, 2009
Real Estate News

Failed Projects Turned Into Affordable Housing
Urban governments make plans to subsidize failed high-end developments and convert them into affordable housing.

Treasury Makes Refinancing More Attractive
In an effort to expand the Treasury Department's foreclosure prevention plan, home owners can now refinance for up to 125 percent of a house's value.

NAR Gives to Foreclosure Prevention Programs
Several local and state associations have used nearly $700,000 in grants from NAR to help prevent foreclosures in their areas.

Traffic Increase at Zillow.com
The real estate Web site announces that traffic is up 67 percent in the first half of 2009 compared to the same period in 2008.

Retailers Experiment with Short-Term Rentals
Commercial landlords have grown more comfortable with shorter leases.

Manhattan Condo and Co-op Prices Fall.
According to one of New York's largest real estate firms, prices have dropped by 17 to 26 percent for the high-end.



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