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Thursday, September 2, 2010 As of 9:11 AM EDT
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Breaking News

An offshore oil rig has exploded in the Gulf of Mexico, west of the site of the April blast that caused the massive oil spill.

House of the Day

Providence Poet House
The poet who's lived in this 6,800-square-foot former carriage house finds it well-suited for writing. The Rhode Island home features seven bedrooms and an indoor fire pit.
- Visit the House of the Day homepage.

Builder Bummer: Big Land Auction Cancelled
Today we wrote about the excitement surrounding a big California land auction that was set for Thursday. Well, the bidders should just stay home.
One Michigan County Offers Free Land
Muskegon County in Michigan is bartering land for jobs as its unemployment rate soars past the national average.
Home Price Reports Don't Show Declines (Yet)
When reading Tuesday's report on home prices from the S&P/Case-Shiller index, use caution.
Paying Off the House in 15 Years
A growing number of homeowners are choosing to pay down their mortgages at a faster rate--even if it means a substantial jump in their monthly payments.
- Readers React: '15-year mortgages are way to go'
Tiny New House, Old Kyoto Soul
In Japan, a curved structure is meant to be true to the spirit of traditional homes
- Photos: Kyoto Small
Gardening Without a Sprinkler
The perfect lawn has met its match. Homeowners, in a quest to save money—and water—are trading in clipped hedges and putting-green turf for landscaping closer to what might have grown there in the first place.
- Photos: Giving Up On Grass
Wells Fargo 'Party House' Sold at 30% Off
A couple has paid nearly $15 million for the bank-owned Malibu beach house that made waves last year for allegedly being used as a party house by a Wells Fargo executive.
Is Contractor Legit?
After a recent hailstorm caused roof damage, contractors have been swarming around a Buffalo homeowner. June Fletcher offers advice on how to screen out the scammers.
Media Mogul Malone Buys New Mexico Ranch
The 290,100 acres are 150 miles east of Santa Fe. Plus, a home designed by Marcel Breuer is on the market for $3.8 million, and an interior designer has cut the price on his Washington, D.C., home.
- Photos: Private Properties
Homes with Saltwater Pools
A look at houses with saltwater pools in California, Massachusetts and Washington state.
- Photos: Homes With Saltwater Pools
Solar Panels and Resale Value
A homeowner wonders how solar panels will impact a home's resale value and if it's better to rent or buy them. June Fletcher has answers.
Home With Presley Ties Lists
A ranch-style home near Los Angeles linked to Priscilla Presley is listed for nearly $7 million. Plus, Jeff Moorad takes his Arizona home off the market, and scientist Roger Revelle's home lists in La Jolla.
- Photos: Moorad, La Jolla Homes
Lakefront Homes, Under $1 Million
See homes in Ohio, Minnesota, and New York.
- Photos: Lakefront Living
Green, With a Twist
The spring flowers are long gone, leaving nothing behind but dull green. There's a way to break out of this midsummer monotone, writes columnist Bart Ziegler.
Living History in Nantucket
Author Nancy Thayer fights to preserve the past out of her 1840 shipbuilder home.
- Photos: Thayer's Nantucket
Long Island Deal of the Week: Half of a House
The Shrinking Second Home
Taking a Bath on Your Pool
Free-Range Landscaping
Michael Jackson Mansion Listed, $10 Million Price Cut
Atlanta's Pink Elephant Finally Sells, $25 Million Off
Indian Home Buyers Struggle with Bubble
Joey Fatone Home Up for Auction
A Glass House in Farm Country
Dive Into Pool Repairs?
Housing Bust Benefits Subsidized Tenants
Michael Graves: Miami Twice
Dr. Phil Buys in Beverly Hills
Fighting Foreclosure with Cornbread
'Real Housewife' Teresa Giudice's Auction Goes Global
Living in a Barn
Setting a Rental Price
Long Island: Nice Place To Build, If You Dare
Howie Gelbtuch Is a Mini-Donald Trump
Doubling Down on Housing
The Joy of Emptiness
Court Appointments
Where a Magician Disappears
Pritt Relists for $49.6 Million
How We Sold a House
Arts-and-Crafts Time
Need to Sell Your House? Cut the Price
Homes for Car Collectors
Folk Rock and Fine Bordeaux
Cookie Magnate Seeks Buyer in Aspen
Open House Theft: Who Pays?
Paul Allen's Malibu
Walker's Guide to Home Buying
Charity Joins Top Home Builders' Ranks
Should I Fight a Low Appraisal?
A Downtown Guy's Uptown Pad
Good Schools, Bad Real Estate
Homes with Pools
Mottola Asks $27.5 Million for Ranch
David Siegel's Unfinished Mansion Raises the Bar on Excess
Reasonable Closing Costs
Alternatives for Stymied Seller
Home-Buyer Psychology Changes, Fuels Rental Market
Where the Rich Live in India
Homes with Outdoor Kitchens
Hill and McGraw Sell Home for $9.55 Million
A Crime Writer's Sunny Spot
A Shore Thing
From Medieval Ruin to Serene Retreat
Subscriber Content Read Preview

Builders Return to Florida
Estate of Grace
Glass Menagerie
When Gardens Get Personal
Under Another Tuscan Sun
Crichton's Hawaii, For Sale
Music, Art and Space
Gourmets Down the Road
Alpine Mega Mansion: Most Expensive Home, Most Expensive ZIP Code
Cisneros: Profiteers, Not Government, To Blame for Housing Crisis
Mad About Blue in the Garden
Oh, Canada! What We Could Learn From Your Mortgage Market
Chinese Drywall Issues Known in 2006
Fun and Games
Luxury Sales Bounce Back

Commercial

Subscriber Content Read Preview

Capital Freeze Thaws for Real-Estate Funds
Real-estate funds saddled with boom-time properties are getting relief from Wall Street firms and other investors hoping to capitalize on their need for cash.
- Preview: AREA Takes Over MSREF Hotel
New Resorts Owners Roll Dice
Morris Bailey and Dennis Gomes are paying $35 million for Resorts Atlantic City, at a time when gambling revenue is declining and customers are being siphoned off to Pennsylvania venues.
Home and Garden
S'mores, Anyone?
Three homes with outdoor fireplaces for under $3 million in Hawaii, Chicago and Georgia.
- Photos: Tour the homes
The World's Most Expensive Dishwasher
The Brownstone Diarist pays a steep price for switching the plans for the kitchen in her Harlem renovation.
New York
Endless Summer Just a Beach Away
Summer doesn't have to end this weekend. If you work in Manhattan, there's a diverse selection of beachfront communities that offer the comforts of seaside living within an easy commute to the office.
Queens Tudor With Global Flair
After demolishing the existing home on a lot in Forrest Hills, Queens, the owners spent $2.5 million to build a seven-bedroom Tudor with international influences.

Developments

Real Estate News: Pending Sales Rise in July
Here's a look at the real estate news in today's WSJ:
Residential Properties Ltd.
Pending Home Sales Rise in July: Stocks gained on Thursday after the National Association of Realtors reported that pending sales rose by 5.2% in July.Five Mistakes Home Buyers Make: From snubbing the real-estate agent, to failing to determine how much a buyer can truly afford, this list should help avoid some common pitfalls.Surprising Shelter: Real-Estate Funds Gain: Despite continued bad news about the economy and real estate's role in it, mutual funds and exchange-traded funds in the real-estate sector have rebounded during this past year.Fed's Pianalto: Multiple Solutions Needed on Housing: The housing crisis needs multiple, coordinated policy solutions, Federal Reserve Bank of Cleveland President Sandra Pianalto told a conference on Thursday.House of the Day: Providence Poet House: The poet who's lived in this 6,800-square-foot former carriage house finds it well-suited for writing. The Rhode Island home features seven bedrooms and an indoor fire pit.
Builder Bummer: Big Land Auction Cancelled
One Michigan County Offers Free Land
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Buying & Selling

Toxic Debt Returns to Fashion
Mortgage securities backed by risky Alt-A and adjustable-rate home loans—once the most noxious of the toxic waste in the financial system—are gaining favor with investors.
Moroccan-Inspired Chelsea Loft
Five Mistakes Home Buyers Make

Second Homes

Tough Love, Garden Style
Columnist Bart Ziegler doesn't have the time or inclination to coddle plants. Here are some trees and shrubs that thrive even under benign neglect.
Subscriber Content Read Preview

Guardian Life, Lowe Team Up
Politically Incorrect Gardening

Home & Garden

'Hellstrip,' Gardening's Final Frontier
The often-neglected strip of grass between the street and the sidewalk is getting a makeover.
Workout Gear That Goes Easy on Joints
A Fashion General's Bunker

Commercial

Subscriber Content Read Preview

Simon Closes Purchase of Prime Outlets
Simon Property Group said that it closed on its acquisition of Prime Outlets, which had come under FTC scrutiny for possible antitrust concerns.
Commercial Property Owners Choose to Default
Servicer Objects to W Hotel Transfer

Columns

About the house
By Gwendolyn Bounds
Workout Gear That Goes Easy on Joints

House talk
By June Fletcher
Should House Hunter Delay Purchase?

Offers

Developments

Serial Killer's Former California Home Sells
Barbara Holmes and Tom Williams got a killer deal in the foreclosure auction for their new Sacramento home.
Five Mistakes Home Buyers Make
Even in this market, buyers can get tripped up. Here are a few do's and don'ts for first-timers.
'Hellstrip,' Gardening's Final Frontier
The often-neglected strip of grass between the street and the sidewalk is getting a makeover.
- Photos: Gardeners Go to the 'Hellstrip'
Ignore Talk of a Housing Tax Credit 'Revival'
Bring back the home buyer tax credit? Don’t hold your breath.
Shiller: Time for More 'Inspirational' Housing Policy Ideas
Yale economist Robert Shiller urged policy makers to be more “inspirational” when designing solutions to the housing market morass.
Loan Mod Saves OC 'Housewife' Alexis Bellino's Home
The economic downturn has snared yet another Housewife.
The 15-Year Mortgage Gains Fans
These days mortgage holders are saying, "let's just get this over with." Some are putting cash-in to take advantage of historically low interest rates others are refinancing into 15 year mortgages.
A Fashion General's Bunker
Order rules at the Park Avenue home of Stephanie Winston Wolkoff, the first-ever fashion director of Lincoln Center.
- Photos: Wolkoff's Fashion House
Paul Fireman Lists Nevada Ranch
Paul Fireman's ranch is one of the largest in the West, with an asking price of $50 million. Plus, Bret Saberhagen's home lists, and a Beverly Hills home asks $9.5 million.
- Photos: Nevada Ranch
Should House Hunter Delay Purchase?
With home sales tanking, a San Diego house hunter contemplates waiting out the market. June Fletcher runs the numbers.
Analyst: Please, Don't Compare Toll Brothers to Tiffany & Co.
Toll might be the sector's best-known luxury builder, but to compare them to luxury retailer Tiffany, as some have, just doesn't work.
Are Home Buyer Tax Credits a Mistake?
Tuesday's shocking if predictable reported plunge in home resales for July begs the question: Were the tax credits worth up to $8,000 for home purchases bad policy?

Real Estate Video

marketplace

Consumer Interest Rates

Mortgage

Loan Types	Rate	Last Week	Chart
30 yr fixed mtg	4.33%	down ↓	see chart
15 yr fixed mtg	3.85%	down ↓	see chart
5/1 ARM	3.39%	up ↑	see chart
30 yr fixed jumbo mtg	5.48%	up ↑	see chart
30 yr FHA mtg	4.50%	down ↓	see chart

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