A report from the Oregonian. "1912 remade Craftsman in Portland Heights: 2909 S.W. Upper Dr. is listed at $450,000. The property was listed for sale on Sept. 20, 2019 for $699,900, according to public records. The price dropped $200,900 about a month later, on Oct. 15, 2019, to $499,000. An offer was accepted on March 30, 2020, then the property was put back on the market on April 6, 2020. The house was pending again on May 11, 2020, then it was relisted again on May 24, 2020. When it was listed again on Sept. 16, 2020, the price was lowered $49,000 to $450,000."

From Seattle PI in Washington. "I’m going to take you through the 5 most expensive Seattle condo sales in 2020. In 18 years of real estate and 15 years of condo work, I don’t think I ever could have imagined how challenging the Downtown condo market would be. Unit #1202 at Four Seasons may look familiar. It was on our list of the Most Expensive condo sales in 2019 as well. I would guess that Downtown politics, protesting or Covid-19 could have played a roll in the quick sale. Despite going out to market $9.495M, the owner ended up selling the unit for the same price they bought it for in the summer of 2019 – $9.2M. For those of you wondering, the costs of sale for a unit like this is roughly $644,000."

"Another Four Seasons unit on the list. Coming in at the number 3 most expensive sale in 2020 is Unit 1801. This 2 bedroom unit, like the others in the building has an iconic view. Taking a quite a bit longer to sell (nearly a year), 1801 finally fetched a price of $6M. A little bit of history on this unit. Back in 2007 when the project first went to market, this unit was priced at $9.493M and in 2019 it was priced at $9,995,000. For those of you counting, the HOA dues on this unit are $6,492 per month!"

From Mansion Global. "Studying real estate cycles can be useful in identifying strong investments. 'New York and London have both had several years now of declining prime prices,' said Kate Everett-Allen, head of international residential research at the London-based real estate agency Knight Frank. 'There’s a sense they might be buying opportunities now as they come through the end of the property market cycle and that price growth might start to move into positive territory again.'"

"The trend of people rushing to the suburbs this year in search of more space and less density has added to the woes of the prime real estate market in places like New York. That’s made it even more of a buyers’ market."

From Bisnow New York. "In yet another example of New York City’s hospitality woes, a boutique hotel and residential building that was facing foreclosure is now entering into bankruptcy. The Tillary Hotel in Downtown Brooklyn, owned by Isaac Hager’s Cornell Realty Management and partners, including Rubin Equities, filed a Chapter 11 petition in New York bankruptcy court Friday. Calls to the 174-room hotel at 85 Flatbush Ave. Extension were not answered Friday afternoon, and its website didn’t allow bookings beyond Jan. 4 as of Friday evening."

"Only five of the 64 apartments are occupied, the hotel owners said in the filing, and they plan to convert the apartments into condominiums if the hotel is allowed to emerge from bankruptcy. Its largest unsecured creditors are a Brooklyn-based security company, Greater Shield, which is owed nearly $370K, and Chesky Berkowitz, a leader of the Satmar community of Orthodox Jews in Brooklyn, who is owed $250K, according to the filing."

"It is not the first hotel in the city to be hit hard by this crisis. The Hotel Association of New York City predicts 20% of the city’s 124,000 hotel rooms won't reopen after the pandemic subsides. The Hilton Times Square, the W Hotel Downtown, The Roosevelt and Midtown’s the Maxwell and Omni Berkshire hotels have all announced they will close in recent months."

The Wall Street Journal. "Investors are buying hotels and turning them into rental apartments. These buyers are trying to take advantage of the hospitality industry’s crisis by taking over struggling or foreclosed properties at bargain prices. The share of hotels with securitized mortgages that were delinquent on their loans was 19.66% as of November, up from 1.52% a year earlier, according to Trepp LLC. Even before the pandemic, a surge of hotel construction over the past decade had left some cities with a room glut."

From Vox Recode. "Last year, WeWork failed to become a public company after a high-profile implosion full of intrigue, excess, and downright foolishness. Miraculously, one year and one pandemic later, the coworking company is not only still kicking, but it stands to ride post-Covid office trends to profitability and an IPO — if it can hold on long enough."

From Bisnow Washington DC. "Rappaport CEO Gary Rappaport, a major owner of shopping centers in the D.C. area, said he has seen signs of the retail market improving, but he is still worried about what the winter will mean for his restaurant tenants. 'We've got many months of winter coming up, and we've got many tenants that are not going to survive,' Rappaport said."

From Socket Site in California. "The net number of homes listed for sale in San Francisco dropped another 13 percent over the past week to 1,090 and will likely drop another 25-30 percent through the end of the year before climbing in January. That being said, inventory levels are now running 175 percent higher than they were at the same time last year, with 200 percent more condos on the market and 120 percent more single-family homes."

"And of those homes still listed for sale in the city, roughly 40 percent are now listed for under a million dollars (versus 26 percent at the same time last year) and 34 percent have undergone at least one price reduction."

The Los Angeles Times in California. "One of the most striking homes in Palm Springs has finally sold. All it took was six years of relists and price cuts that saw the original $9.5-million tag slowly whittled down to the final sale price of $2.6 million."

From West Hawaii Today. "Driven by a surge in demand for residential homes, property sales in Kona reached a 15-year high in October and November. Condominium sales, however, have not experienced the same type of bounce. 'The one-year declining trend for condos is steep, off 19% from the previous 12 months,' said Kona Realtor Gretchen Osgood. 'It is likely that the attractiveness of condo ownership for investors has worn thin due to the lack of tourists.'"

"Such high numbers for residential homes, not seen since before the Great Recession and housing crisis of 2008, may prompt worries of a market correction to come. Osgood speculates, however, that while housing may become a nationwide issue in the coming months, West Hawaii is better positioned than most to weather such a storm, primarily because of the high portion of cash buyers as of late."

"'We’re running at 41% cash buyers last month; that gives us a sustainability in those people that are coming. They’re not going to lose their house if they paid all cash for it,' said Osgood. 'That number has been running high for years; at one point in the downturn, it was actually 50% of the buyers. So, Kona is a little bit better positioned at this point in time to weather a downturn. I don’t think our house of cards is going to collapse like it did last time.'"

"The expiration of federal and state protections for foreclosures and evictions in the coming months, coupled with what’s projected to be a sluggish recovery in Hawaii, could result in an exodus of West Hawaii homeowners heading to the mainland in 2021. Such an exodus seems certain to inflate the current depleted inventory of homes."