Real Estate News: More Investors, Vacationers Snap Up Homes

Sean Lavery
Private Properties: Actor Bruce Willis has listed this 1-acre property on Pettit Lake in Ketchum, Idaho, for $4 million.

Here is a look at real-estate news in Friday’s WSJ:

More Investors, Vacationers Snap Up Homes: Sales of investment and vacation homes surged last year, the latest evidence that investors and higher-income households are taking advantage of low home prices to scoop up bargains.

Bernanke Defends Fed’s Crisis Moves: The Fed’s purchases of Treasury securities and mortgage-backed securities were “generally successful” in lowering interest rates and helping to support economic growth, Mr. Bernanke said Thursday in his fourth lecture at George Washington University.

Sibling Hong Kong Tycoons Arrested: Two billionaire brothers who are among the city’s most powerful property tycoons and the city’s former No. 2 official were arrested Thursday on suspicion of bribery in a case that gets to the heart of city’s business culture and its economy.

House Talk: Unhappy with choices in new-home developments, a reader considers buying an older home and tearing it down to build what she wants.

Home Front:  ”My feeling about the house is that it’s obnoxious, but we couldn’t resist it,” said best-selling author James Patterson of his 20,000-square-foot home.

Private Properties: Bruce Willis lists a lakefront Idaho property for $4 million.

Open House: A 5,790-square-foot home in Queenstown, New Zealand, with five bedrooms and 3½ bathrooms on just under an acre is asking 4.5 million New Zealand dollars ($3.7 million).

New York News:

Mayberry Comes to Midtown: Unofficially dubbed 6½ Avenue, the series of public arcades and atria from West 51st Street to West 57th Street may soon become an official route.

Rego Park Growth Brings Pluses, Minuses: With the addition of several big-box retailers to its shopping scene and residential real-estate projects, Rego Park, Queens, is looking to close the desirability gap with its more coveted cousin to the east—Forest Hills.

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