A quick rundown of the important real estate news from the week of April 2 – April 8, by the numbers:
$1000 – Amount Chicago based Dream Town Realty brokerage will pay out to Buyers or Sellers at closing for purchasing a $25 Groupon voucher. “The voucher is good for one year from the date of purchase. The offer launches on Friday and will run for a week. On Monday, it will be the featured deal for Chicago subscribers.”
$300 Million – Value of a 25% stake in Fannie Mae’s portfolio of foreclosed multi-family properties, purchased by Related Cos., a private real estate company based in New York. “Fannie also would sell Related stakes in future foreclosed multifamily properties, which are expected to be added to the portfolio as Fannie takes them over in the coming years.”
2.2 Million – Price for Tiger Woods’ home in Isleworth, FL. It’s the same home where Tiger Woods crashed his car in November 2009.
$60 Million – Loan Garrison Properties Fund received from Deutsche Bank to fend off a lender trying to foreclose on 4 office buildings in the Virginia suburbs near Washington DC secured by a $107 million first mortgage. Garrison acquired the $31.5 million mezzanine debt on the office buildings in 2007 and foreclosed on the borrower. However, Garrison was liable for the $107 million first mortgage.
25% – Approximately the percentage of mortgage applications turned down according the the Federal Reserve.
36% – Percentage of pre-retirees that view their home as a major source of retirement funding.
56% – Percentage of people who prefer “smart growth communities” according to a survey by the National Association of Realtors. Smart Growth Communities “are defined as those where shops, restaurants, and local businesses are within walking distance from homes.”
4.87 – Average rate on a 30 year fixed mortgage, up slightly from last week’s 4.86% rate.
$2 Billion – Amount Florida mortgage executive Lee B. Farkas allegedly stole from 3 different banks. “The former chairman and majority owner of Ocala, Fla.-based Taylor Bean & Whitaker, is charged with 14 counts of fraud.”