Housing starts increased by 2.8 % in January with the biggest increase since april 2004. December housing starts were revised upwards to 575,000 units from 557,000 units. Groundbreaking for single family homes rose 1.5 % in January.
Barbara Corcoran, formerly of the Corcoran group which she sold in 2001, said in an article in AARP stated that she thinks that these are the good old days that we have dreamed about. Cheap money and cheap prices together. She suspects the real estate market will make up the loss we have had for the past 4 years in the next 18 months. For those of you who follow her now might be the time to buy that property you have been dreaming about. Give me a call to discuss your purchase.
A developer for a casino in Wilmington is moving forward with plans to build a casino on the seventh Street peninsula. It would be a $200 million dollar project for the site.
F & M Peninsula LLC is adding 2 partners. The new partners will be Leonard DeAngelo, a former vice president of Las Vegas Sands and Daniel Keating III of the Keating Group in Philadelpia.
They will also need new legislation as the law legalizing video lottery in Delaware was in 1994 to help the 3 horse racing tracks in Delaware to survive.
This will happen because money talks and Delaware is desparate for more money.
Fisker Automotive announced today that they reached a deal with A123 systems to supply batteries for their first hybrid plug in car, the Karma. They also agreed to invest up to $23 million in Fisker. The investment is $13 million in cash and $10 million in stock.
The company received a loan from the Department of Energy and as a part of that loan agreement they are required to raise $122.8 million to complete the deal.
Fisker Automotive has cut off talks with battery maker EnerDel to supply batteries for their future Karma luxury sedan. The Karma has an estimated cost of $87,900 and will initially be built in Finland. Eventually it will be made in Delaware. Fisker said the they had an aggressive timing schedule and that presented challenges for Fisker and EnerDel.
They have a 2nd vehicle being planned for production in 2012.
Apparently the State did not consider the 136.4 million dollar slip in revenue due to no stimulus for this year. Once again the State is looking for ways cut money out of the coming years budget. They are looking at consolidating some of the functions in the different agencies. They are also considering asking State employees to pay for for their health care. Tell me what you think.
As a Realtor I enjoy helping people find the home of their dreams. or selling their home. I also have an interest in green homes. Go to my web site at www.Doverhomesales.com for more info.
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