CraigsArizona

RE News from the web

• Citigroup Gets Burned in the Caribbean

  The bank is selling its mortgage on the Viceroy Anguilla to Starwood Capital Group at a hefty discount, the latest example of capitulation by a bank that has nursed a troubled real-estate project for years.

• 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.

• 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.

• 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.

• 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.

• S'mores, Anyone?

  Three homes with outdoor fireplaces for under $3 million in Hawaii, Chicago and Georgia.

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