Real Estate News – March 1, 2011

Celebrity foreclosures, more good news in commercial real estate, Nevada HOA reform, and more in today’s real estate headlines:

Nevada lawmakers are working on several bills to reform homeowners’ associations in the state, after fielding several complaints by residents who say debt collection agencies are coming after they when they fall behind on their HOA dues (via REALTORMag):

The rich and famous are finding they aren’t immune to foreclosure. In the last six months, actor Nicolas Cage, baseball legend Julius “Dr. J” Erving, and hip-hop artist Chamillionaire have gone through foreclosure proceedings, Reuters News reports (via REALTORMag):

Allstate Corp., the largest publicly traded U.S. home and auto insurer, sued Credit Suisse Group AG units over claims they fraudulently sold the insurer more than $231 million of residential mortgage-backed securities (via

U.S. Treasury Secretary Timothy Geithner said on Tuesday it would be a mistake to end a much-criticized program for modifying home mortgages while the housing sector remains in such a fragile state (via

U.S. commercial property purchases may double this year as confidence builds among investors with access to credit and equity that values will rebound (via