A federal judge recommends that homeowners living with the corrosive drywall gut their homes to the studs.
The suffering may soon be over for some homeowners living with Chinese drywall.
A judge on Thursday awarded $2.6 million to seven Virginia families for damage to their homes caused by the sulfur-emitting drywall that corrodes electrical wiring, metal and more.
But the New Orleans federal judge took the case one step further by not only recommending that the drywall be removed, but also that the homes be gutted down to the studs, according to the Sun Sentinel.
Earlier this month, we wrote about the federal government urging people living with Chinese drywall to replace the drywall as well as any corroded household items, such as electrical components and wiring, gas service piping, fire suppression sprinkler systems, smoke alarms and carbon-monoxide alarms.
U.S. District Judge Eldon Fallon added air-conditioning systems, insulation, carpeting and most appliances to the list.
The 'frat house bordello' look might have prevented some bidders taking the plunge.
But on Wednesday, not even a fast-talking auctioneer could sell it at a starting bid of $10.4 million. The Los Angeles Times writes that there were no takers at the foreclosure auction for the home that once belonged to Tom Jones and Dean Martin.
Now it belongs to the foreclosing lender, which the Times adds is one of six that are holding a total of $18 million in loans on the property.
Energy-efficient renovations to your home are more likely to increase your return than the luxe remodels of yore.
So much for granite countertops and bamboo flooring. If you really want to see more of a return on a remodel, now's the time to think of ways to cut your energy costs.
The Wall Street Journal writes that home sellers now are more likely to see a bigger profit from remodels that aren't necessarily as visible as the big-ticket trends that sold homes through the boom.
Among the most cost-effective improvements include the addition of energy-efficient windows, roofing and doors, the article says, not only because they increase savings, but also because they have the bonus of giving a good first impression of the home.
A real-estate agent is teaming up with a private jet company to offer tours of bank-owned luxury homes.
Why not check out foreclosures from the lap of luxury?
After all, it's not just decrepit properties that have fallen into financial distress, especially in regions such as Las Vegas where home prices have fallen by more than half since the boom.
Plenty of luxury properties have fallen back into the hands of banks, and one real-estate agent hopes a clever marketing idea to fly potential clients to these properties via a private jet might help get them sold.
Ken Lowman of Luxury Homes of Las Vegas is teaming up with JetSuite Air to fly qualifying buyers from Los Angeles to Las Vegas for a complimentary tour of three luxury properties for sale there on April 12, with more tours planned for other locations.
The first family will have a new neighbor when they return to their Chicago home.
In the beginning, the "Obama factor" certainly put the spotlight on the home for sale next to President Barack Obama's Chicago home.
But in the end, the price the sellers of 5040 S. Greenwood Ave. finally received sounds more like a compromise than the bidding war that many people were expecting.
When the Matt Garrison Group first put the 6,000-square-foot home on the market in September, it left the asking price off, hoping the "Obama factor" would boost the price that interested parties would be willing to spend.
But The Wall Street Journal says that although the home recently was listed at $1.85 million, it sold Tuesday for $1.4 million to an undisclosed buyer:
A new survey from Fannie Mae finds that two-thirds of Americans prefer to own rather than rent.
The housing crash was bad enough to strike fear into the financial decisions of Americans, but it wasn't bad enough to scare them out of the dream of homeownership.
According to a new survey by Fannie Mae, 65% of homeowners and renters still prefer owning a home, while eight in 10 say homeownership is important to the economy. Owning a home also is considered by 70% to be one of the safest investments, while 74% put their faith in bank accounts and only 17% felt the same way about buying stocks.
But the recession still made its mark, with 23% of renters polled saying they'll buy a home later than they once had planned, although 67% still hope to someday be a homeowner.
Be sure to be on your best behavior while you're taking it all in.
Some people would pay a little extra for some added privacy. But even more would be willing to pay up for a view from the top, even if it would involve a little less of that thing called privacy.
Perhaps the glass-enclosed home at left, listed for $4.995 million in Los Angeles, is a little too revealing for some potential homebuyers. But what you give up in privacy could well be worth it every morning when you open your eyes to a beautiful, Southern California day.
The New York Times brings attention to the issue in "For Private Exhibitionists," which puts the spotlight on a glass house that's for sale on Shelter Island, N.Y.
Prices rose 0.3% nationwide in the first quarter after falling for five straight quarters.
If you haven't locked in that new, lower price for your apartment, you've been forewarned that the clock is ticking.
And now, depending on where you live, you may already have missed your chance at signing a new lease during the rental market's bottom.
The Wall Street Journal writes that in 60 of the 79 markets that research company Reis tracks, rents were back on the rise in the first quarter, increasing 0.3% nationwide.
About Teresa Mears
Teresa Mears is a veteran journalist who has been interested in houses since her father took her to tax auctions to carry the cash at age 10. A former editor of The Miami Herald's Home & Design section, she lives in South Florida where, in addition to writing about real estate, she publishes Miami on the Cheap to help her neighbors adjust to the loss of 60% of their property value.