Shake-ups in every market | REAL ESTATE RUNDOWN

THE RUNDOWN:

???? Residential brokers across the country — and their clients — are celebrating the fall of mortgage rates with sales.

?? Judge to landlords in New York state: “Do more.”

?? No pesky federal law categorizing cannabis as an illegal substance is going to stop THIS Chicago weed company from getting a lease!?

?? A casino operator wants $1 billion for its Miami property — sorry, that’s “well in excess of $1 billion.”?

?? Owners of a central Houston business district property have defaulted on their loan… and it’s a big ‘un.

?? It’s December…which means we can take a look at how the November election shook out for real estate in Los Angeles.

THE DETAILS

????? Unless you’ve been living under a rock (in which case you probably have a pretty low mortgage rate), you’ve heard that mortgage rates, which topped 7% last month, are OUT OF CONTROL. Well, they’re not, actually, according to resi agents across the country who are watching their clients’ mortgage rates fall and nabbing homes.?

?? A New York judge just struck down a year-old good-cause eviction law in the upstate town of Newburgh, while saying that tenants’ rights are still? “expanded” under the decision because landlords will need to do more to evict. Housing advocates took the defeat as a sign to call for good-cause eviction legislation at the state level.?

?? If you thought cannabis operations don’t need office space, think again. Fast-growing weed company Verano Holdings has been shopping for Chicago office space for some time, thwarted by landlords citing “federal law” which “prohibits cannabis” as a reason not to close deals. Psshhh. But the company finally found a home, at least for the next 12 years.

??Malaysian gambling operator Genting Group is seeking to sell its 15-acre property on Miami’s waterfront, and says it’s getting lots of interest from prospective buyers. The company’s 2011 purchase of the property city broke records, and its sale might do the same.?

?? What do CPP Investments, Nuveen Real Estate, Silverpeak Real Estate Partners and Parkway Property Investments have in common? They own Greenway Plaza, a hub within Houston’s business district. They also happen to be in default on a more than $400 million loan on the property. Yikes.?

?? The City of Angels had a whole lot on its ballot in November… and the results are finally in. We review what the latest election means for the real estate industry.