BY WILLIAM SHERMAN
DAILY NEWS STAFF WRITER
Daily News reporter William Sherman in front of the Empire State Building.
In one of the biggest heists in American history, the Daily News “stole” the $2 billion Empire State Building.
And it wasn’t that hard.
The News swiped the 102-story Art Deco skyscraper by drawing up a batch of bogus documents, making a fake notary stamp and filing paperwork with the city to transfer the deed to the property.
Some of the information was laughable: Original “King Kong” star Fay Wray is listed as a witness and the notary shared a name with bank robber Willie Sutton.
The massive ripoff illustrates a gaping loophole in the city’s system for recording deeds, mortgages and other transactions.
The loophole: The system - run by the office of the city register - doesn’t require clerks to verify the information.
Click here for more from the Daily News
by Tara Darby
Is the “bigger is better” mentality fading in terms of real estate? Are the days of McMansions coming to an end? Well, it seems for some homeowners it is. There’s a new movement out there that’s creating quite a buzz among environmentalist and folks seeking a simpler life. It’s called the Small House Movement and it might just be the next small thing.
These homes bring a whole new meaning to up close and personal since most are less than 1000 square feet, some are even less than 100 square feet.
Click here to read more from Realty Times
N.C. regulators voted today to approve a new rule that will require real estate agents to provide a written disclosure of bonuses they might receive from sellers before a buyer makes an offer to purchase a home.
The rule, which will help homebuyers know if their agent has an extra financial interest in showing them a home, is scheduled to take effect Oct. 1.
Click here for the article in the Charlotte Observer
With the worst housing slump in a generation slashing home prices across the country, the dynamics of the market have shifted squarely in favor of buyers.
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Rates on 30-year mortgages dropped below 6 percent two weeks ago for the first time in more than a month, reflecting aggressive efforts by the Federal Reserve to cut interest rates to protect the economy from a serious recession.
Click here to read the article from Business Week
Here is an interesting heat map of housing trends & activity in North Carolina.
Click here to see it
The U.S. Commerce Department reported the sales of new single-family homes declined 2.8 percent in January, though area Realtors say the High Country’s market is “immune to natural trends.”
Read the Article in the Mountain Times
