U.S. Existing-Home Sales Probably Rose (Bloomberg) Sales of previously owned U.S. homes probably increased in March as a drop in mortgage rates propelled demand to its strongest quarter in almost two years.
New Boston Fund acquires 111 K St. NE (Washington Business Journal) New Boston Fund Inc. has acquired nearly all of J Street Development’s mostly vacant office condominium tower at First and K streets NE for an undisclosed price and plans to convert the for-sale units into commercial rentals.
REITs Expanding Global Real Estate Footprint (Barron's) A recent increase in overseas investment announcements by real estate investment trusts could signal a renewed opportunity for REITs to expand their global retail real estate footprint, Fitch Ratings says.
Realtors Praise FHA for Issuing Short Sale Approval Guidance (Market Watch) The National Association of Realtors(R) applauds the Federal Housing Finance Agency for issuing new guidance requiring servicers of Fannie Mae and Freddie Mac loans to speed responses to short sale requests.
Height of Folly: Why Housing in Washington, D.C, is so Awful (The Atlantic) If D.C. Mayor Vincent Gray and Rep. Darrell Issa get their way, Congress may finally relax the 102-year-old law that limits most building heights in Washington D.C. to no more than 130 feet. This would be a victory for good urban planning in the District, though a small one.
D.C. mayor proposes tax benefits to keep LivingSocial in the city (Washington Post) LivingSocial, the fast-growing daily deals company that has become one of the biggest private employers in the District, would make the city its long-term home under a deal proposed by Mayor Vincent C. Gray (D).
Robert Peck, fired in GSA scandal, has supporters in D.C. real estate world (Washington Post) In the wake of the General Services Administration spending scandal, Capitol Hill lawmakers scrambled to issue caustic news releases and line up hearings. But in D.C. Peck has many supporters.