Industry Watch

INDUSTRY WATCH

October 17, 2004

Workshop planned on buying, fixing Baltimore properties

The Greater Baltimore Board of Realtors will sponsor a free workshop this week on buying and rehabbing properties in Baltimore.

The event is scheduled for 6 p.m. to 7:30 p.m. Wednesday at the group's Lutherville offices, 1306 Bellona Ave.

Pre-registration is recommended. To register, call 410-337-7200.

Consumers should question prospective agents

A recent Florida case is a reminder of why it pays to ask a few questions of a prospective real estate agent.

Here's a good starter question: Are you really a real estate agent?

Police recently charged a woman in Sunrise, Fla., with fraud after four people said she cheated them out of $32,000 in real estate deals.

Police said the woman had once held a real estate license but had surrendered it years before in connection with another investigation into her dealings. In the recent cases, the woman collected sales deposits for properties that turned out not to be for sale, police said.

House rented by Jackson purchased for $13 million

Pop star Michael Jackson has moved out of the Beverly Hills, Calif., mansion he rented about nine months ago at $60,000 a month, and the house has been sold for slightly more than $13 million.

The owner, Chinese painter Ting Shao Kuang, sold the property to a local businessman, real estate agents said.

The 37,000-square-foot French chateau-style house has 12 bedrooms, a library-office, a barbershop-beauty salon, a 5,000-square-foot master bedroom suite, a billiard room, a ballroom-theater, a wine cellar and two bowling lanes.

The house was built on 2.25 acres in 1990. Ting bought the house in 1995 for $6.5 million but put it on the market in 2002 at $18.8 million because he wasn't using it. Jackson, who is awaiting trial in a child-molestation case, had started renting the mansion with an option to buy it for $20 million.

From staff, Chicago Tribune and Los Angeles Times reports. The Chicago Tribune and the Los Angeles Times are Tribune Publishing newspapers.

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