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Longtime Virginia Dragstrip Hits The Real Estate Market

lolita, 23/08/2025

Virginia Dragstrip

The Custom T’s Motorsports Park, formerly known as Colonial Beach Dragway in Northern Virginia, was listed this week with agent Exit Realty Expertise, for an asking price of $4 million. The 1/8-mile dragstrip, which has been in operation since 1960, is owned by veteran grudge racing promoter Larry Thompson, who took over the facility in 2018. The track carries the name of Thompson’s successful custom screen printing business, Custom T’s, which he founded in 1987 in Washington, DC

The 50-acre facility in Colonial Beach, population 3,900, is located less than two miles from the Maryland state line and the Potomac River, and is a short drive from DC Richmond, and Virginia Beach. Your traditional small-town track, it features all of the essentials without the frills: new scoreboards, freshly paved return road, some limited paved parking, an office and concession building plus other storage outbuildings, covered dining tables, and of course the timing tower , timing system, concrete barrier walls, and simple grandstand seating.

At about 26-grand a month over 30 years before taxes and insurance, whether this Virginia dragstrip is worth the $4 million asking price is up to the discretion of an interested buyer. But we certainly join the

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Baltimore is selling hundreds of vacant homes to city residents for just $1 each

lolita, 22/08/2025
  • Baltimore is selling city-owned abandoned homes to residents for $1 each.
  • The initiative aims to revive neighborhoods with high crime rates and surplus vacant homes.

The city of Baltimore will sell more than 200 city-owned abandoned homes to residents starting at just $1 each in an effort to revive some of its roughest neighborhoods.

A city board approved the measure on Wednesday in a 4-1 vote, according to The Baltimore Sun.

The Maryland city’s crime rates have led to a surplus of vacant homes in certain neighborhoods. According to the city, there are about 15,000 abandoned properties in Baltimore.

The $1 home project approved this week targets about 200 of those city-owned residences. The properties will be marketed to Baltimore residents who are committed to restoring and living in the homes.

The program is meant to incentivize Baltimore locals to buy up the cheap properties, although developers and nonprofits can also purchase the vacant homes — for $3,000, according to local news reports.

The city is offering home repair grants of $50,000 to individuals who are pre-approved for a construction loan, Bloomberg reported.

Baltimore implemented a similar housing project in the 1970s when it offered homesteaders the chance to snatch

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$2.3 million for a four-bedroom home

lolita, 21/08/2025
958 Larkspur Road - Google Street View
958 Larkspur Road – Google Street View

A 2,782-square-foot house built in 1925 has changed hands. The spacious historic property located in the 900 block of Larkspur Road in Oakland was sold on Feb. 6, 2024. The $2,300,000 purchase price works out to $827 per square foot. This single-story home offers a roomy layout with four bedrooms and three baths. Additionally, the house comes with a garage. The property sits on a 4,002-square-foot lot.

Additional houses that have recently been purchased close by include:

  • On Longridge Road, Oakland, in July 2023, a 2,285-square-foot home was sold for $1,875,000, a price per square foot of $821. The home has 5 bedrooms and 3 bathrooms.
  • In November 2022, a 3,177-square-foot home on Longridge Road in Oakland sold for $2,300,000, a price per square foot of $724. The home has 4 bedrooms and 3 bathrooms.
  • A 4,134-square-foot home on the 600 block of Carlston Avenue in Oakland sold in June 2023, for $3,750,000, a price per square foot of $907. The home has 5 bedrooms and 5 bathrooms.
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Changes to eviction notices put Dubai tenants on alert

lolita, 20/08/2025

Eviction notices in Dubai may still apply to tenants when a change of property ownership takes place, rental dispute cases suggest.

A recent court decision noted by the Dubai Rental Dispute Center (RDC) concluded an eviction notice was transferable from a property seller to the new buyer.

Previously, new owners purchasing properties with a sitting tenant were required to apply for a new 12-month eviction notice, even if a notice had already been served to a tenant via a public notary.

This opened the door to a tenant being able to serve, for example, 11 months of an eviction notice, only to have an extra 12-month eviction notice added on if the property was sold to a new buyer.

When the buyer is an end user and needs to move in, this is a step in the right direction for those buyers and re-addresses the marketplace balance

Mario Volpi, sales director, AX Capital real estate in Dubai

But, even though article 25 of law 33 of 2008 on eviction notices remains the same, the way it is interpreted in court has changed so the notice is attached to the property and both parties are protected.

Ludmila Yamalova, managing partner at

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Some BC property owners ‘panicking’ following short-term rental legislation: realtors

lolita, 19/08/2025

Deanna Steele says she has never seen as many condos and vacation homes for sale in Kelowna, BC as she has this month.

The founder of Keys to Kelowna Properties Inc., a luxury vacation rental management agency, said the lake-front city’s real estate market is “saturated” by properties zoned for short-term rental use. Some of the sellers are people who bought not that long ago and are already trying to get out.

“They thought they were going to make a mint because they saw what was happening in the gold rush. And now they’re realizing, ‘Oh, big mistake,'” said Steele.

That gold rush — investing in short-term rentals in Kelowna and many other Canadian cities — could potentially slow to a trickle in the wake of new legislation to regulate short-term rentals introduced by the BC government in mid-October.

While the BC Real Estate Association’s chief economist Brendon Ogmundson says it is likely too early for the regulations to have a major impact on listings, he is hearing anecdotal reports from realtors that investors are looking to offload properties as the new rules come into effect.

“My guess is that this change in policy will certainly motivate some investors to

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How Realtors are compensating may change

lolita, 18/08/2025

The way Realtors are paid may change if courts uphold an agreement the National Association of Realtors made March 15 to pay $418 million in damages to settle lawsuits.

Homeowners said in a class action lawsuit against the real estate trade group that its rules forced them to pay large fees, according to The New York Times.

Rory Dubin, president of the Northeast Florida Association of Realtors, said the industry is waiting on a federal court ruling.

Dubin

“It’s not guaranteed that it will be accepted, but it probably will the way it looks,” he said.

If accepted, rules are expected to change in July.

At the heart of the matter are Realtor commissions.

Dubin said that if passed, brokers representing buyers will no longer be allowed to post their commission on the Multiple Listing Service, or MLS, which lists available homes for sale in a region.

Brokers representing buyers have used the information to help determine which homes to show prospective buyers. Most often, the selling broker splits the commission with the buyer’s broker.

Those commission fees are usually paid by the seller. The commissions are added to the sale price of the home when it is listed.

With

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Mississauga home for sale the most expensive in Peel region

lolita, 17/08/2025

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Engaging Agriculture: UNL releases preliminary farm real estate market survey results

lolita, 16/08/2025

According to the preliminary results of the 2024 Nebraska Farm Real Estate Market Survey, the market value of agricultural land in Nebraska increased by 5 percent over the previous year to an average of $4,015 per acre. This marks the third consecutive year of increases in the market value of agricultural land in Nebraska, setting another high in the non-inflation-adjusted statewide land value in the survey’s 46-year history.

The University of Nebraska-Lincoln’s Department of Agricultural Economics annually surveys land industry professionals across Nebraska, including appraisers, farm and ranch managers, agricultural bankers, and related industry professionals. Results from the survey are divided by land class and summarized by the eight Agricultural Statistical Districts of Nebraska.

The 2024 preliminary results revealed that most of Northwest Nebraska’s agricultural land values ​​were higher for the February. 1, 2024, reporting year. The northwest region includes Banner, Box Butte, Cheyenne, Dawes, Deuel, Garden, Kimball, Morrill, Scotts Bluff, Sheridan and Sioux counties. The average farmland value in the region is estimated to be $960 per acre, which is 3 percent higher than the previous year.



Table 1 reports the eight major types of land reported in the survey and the average value of each type for the

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Habitat For Humanity struggles to sell affordable homes amid California insurance crisis

lolita, 15/08/2025

SACRAMENTO — Habitat For Humanity is struggling to sell its affordable homes to low-income families in California due to the home insurance crisis in the state.

For Tiffany Timberman and her family, owning a home in Sacramento is a dream come true.

Having a place for her family wouldn’t have been possible without the nonprofit Habitat For Humanity.

“I just burst into tears, like it was life-changing. Literally like winning the lottery,” she said.

Timberman is just one of many Habitat For Humanity families who have home insurance. She was approved with no issues.

“We didn’t have any trouble, but I know it is a problem for other people whether it’s an older home or if it’s in a fire zone,” she said.

Home insurance is an essential step in the home-buying process, but it’s becoming increasingly difficult for people to obtain.

It’s been a troublesome trend for the nonprofit, which works to get homes built for deserving families.

“This isn’t isolated to just low-income families, Habitat homeowners,” Habitat executive director Debbie Arakel said. “This is everybody that’s getting hit with this.”

Arakel explained that families face a number of obstacles, from not being able to find insurance to being

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Darwin vacancy rate eases, as rents rise

lolita, 14/08/2025
Courtney Snowden

News Corp Australia Network

The Darwin rental market remained stable in December. Picture: Fia Walsh


Darwin has begun 2024 with the highest capital city vacancy rate in the country even as rental prices trend up.

The latest PropTrack Market Insight report showed the Darwin vacancy rate remained stable in December, holding at 2.65 per cent.

PropTrack senior economist and report author Eleanor Creagh said Darwin’s rental market conditions had “improved slightly” across 2023.

“Over the quarter, the vacancy rate in Darwin was up 0.87 percentage points, the biggest uptick among the capital cities,” he said.

“Darwin’s rental vacancy rate also increased 0.55 percentage points across 2023.

“Still, Darwin’s rental market is much tighter than pre-pandemic.

“The vacancy rate declined 42 per cent compared to March 2020.”

PropTrack senior economist Eleanor Creagh. Photo: Supplied


Regional NT saw the largest vacancy increase in the country in December, up 0.48 percentage points month-on-month to 2.79 per cent.

The vacancy rate was also up 0.66 percentage points for the year.

The PropTrack data shows the median rent in Darwin was $590 per week, up 0.9 per cent for the December quarter and 1.7 per cent for the year.

MORE NEWS: Darwin real estate more

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