Posts about Real Estate Market Reports as of October 7, 2009

Mosler: PAYROLL TAX HOLIDAY New Category: Car Fund When the Going Gets Tough The Rich Bail Mosaic (MOS), Monsanto (MON) Earnings – Have the Sellers Been Exhausted Fast Money Recap 10/609 One check at a time A candy co-op and costume swap for Halloween H. Rodgin Cohen on the State of Bank M.&.A.

In the wake of AIG’s dismantling, real estate developer Young Woo (of Youngwoo & Associates) snapped up the insurance firm’s headquarters at 70 Pine Street for a laughable $105 per square foot, or $150 million. The 66-story Art Deco tower is regarded as one of the Financial District’s most beautiful buildings, and a residential conversion seems like a slam dunk, even in a down market. Woo confirmed that condos are the aim, but other details on the renovation/conversion have been hard to come by.

AvalonBay Communities, Inc. ( AVB ), a leading real estate investment trust (REIT), has recently sold its 171-unit apartment complex in Quincy, Massachusetts for $27.2 million to CB Richard Ellis Investors, a global real estate investment management firm.  The apartment complex, called ‘Faxon Park’, is 100 leased and includes various amenities like clubhouse, swimming pool, and playground.

Another Indian real estate firm to going public… If you wish to view the entire report, visit us at GEO Monitor or contact us This report is provided as part of IIR Group Ltd.’s GEO (Global Equity Offerings) Monitor service, which tracks global IPO activity. Our GEO Monitor is the only comprehensive research coverage of global IPO’s available to the market and provides you with the following key deliverables: Weekly IPO Calendar identifying all up-coming global IPO’s >USD50 mn

Oct 7th, 2009printemailPost a comment The vacancy rate of offices in the US reached a five-year high in the third quarter of the year, according to real estate research firm Reis, reports Reuters. The vacancy rate rose 0.6 percentage point to 16.5 percent from the previous quarter and is up 2.3 percentage points from a year earlier, according to the report.According to the report, the rate increased because of the “unwillingness of tenants to rent,” which in turn led to a sharp increase in the

The number of Pittsburgh foreclosure homes for sale is dropping, so prospective buyers of lower-priced properties in the metro area should buy now. According to real estate research firm RealSTATS , the number of available foreclosures for sale in the Pittsburgh metro area has gone down by 5 percent in August to only 323 units. A separate report by an AOL real estate entity showed that there are only 414 foreclosed units as of September in the area.

The table below from the Federal Reserve of Atlanta is interesting. It looks at all the recessions since 1970, and how long it took for unemployment to peak after the recession technically ended, and how much longer after that that the Fed actually started to tighten up. The short 1980 recession, which was really the first part of a double-dip recession, is excluded. Note that unemployment always peaks after the recession is over. However, in earlier recessions the time lag between the end of the recession and the peak of unemployment was brief.

Some people when thinking of shadow inventory have images of poor rundown homes in suspect neighborhoods.  Yet the reality of shadow inventory sometimes include some of the most priciest and beautiful real estate in the world.  Take for example the Wells Fargo executive who was using an exclusive Malibu foreclosure for private parties.  The initial […] Some people when thinking of shadow inventory have images of poor rundown homes in suspect neighborhoods.  Yet the reality of shadow inventory

Real Estate News compiles a daily wrap-up from each morning’s Wall Street Journal and other news sources. Fed Frets Over Commercial Real Estate (WSJ) : U.S. banks are slow to take losses on battered commercial real-estate loans, said a Fed report, and with low loan-loss reserves risk a replay of the bust in the housing market now hitting the sector. Office Rents Dive, Vacancies Rise (WSJ) : Office rents are falling at the fastest pace in more than a decade as vacancies create a glut and landlords slash prices to attract tenants.

Good Morning Robert, WED 07 Oct 2009 today’s headlines Stock futures flat, Costco profit tops view Gold spike gives Asian consumers pause, not fever Costco profit beats market view Fannie, Freddie plan to aid mortgage banks: report Monsanto reports larger loss Julius Baer to buy ING Swiss private bank U.S. mortgage applications at 4-month high Oil above $71 as demand seen recovering Fed’s Hoenig: too soon to pull support as U.S.

Read Julie’s comments below … Megan O’Toole, National Post Published: Tuesday, October 06, 2009 Homes throughout the Greater Toronto Area are worth more than they have been in decades, even as experts warn another crash might be on the horizon. In September, the average resale home price hit a record high of $406,877 as existing home sales shot up by 28% over last September – and the Toronto Real Estate Board forecasts the upward trend will hold in the coming months.

Costco’s Trends Cheers Analysts for Holidays GOOD MORNING. Stocks in Asia rose today; U.S. futures are pointing to a higher open. Retailers are bracing for a tough holiday shopping season, but the news out of Costco ( COST ) this morning suggests things might not be as bad as anticipated. Costco is the first big retailer to report earnings this season. And the big discount chain beat Wall Street views for its fiscal fourth quarter, which ended August 31.

Small and medium enterprises (SMEs) could drive demand for both office space and affordable residential property in the UAE if they can secure bank loans to finance start-ups, provide working capital and investment for expansion and growth, according to an industry expert. “It is widely accepted that SMEs account for approximately 80 per cent of the UAE’s economic activity, which means that collectively they employ a large number of staff, require industrial, commercial and office space and naturally employees need housing.

by Paul Craig Roberts ForeignPolicyJournal.com If Karl Marx and V. I. Lenin were alive today, they would be leading contenders for the Nobel Prize in economics. Marx predicted the growing misery of working people, and Lenin foresaw the subordination of the production of goods to financial capital’s accumulation of profits based on the purchase and sale of paper instruments.

Reading Assignments: Fed Frets about Commercial Real Estate Marc Faber on the Economy and Financial Markets VIX – Defining a Range Between 22 and 30 Jeffrey Saut Investment Strategy: Weekly Commentary From Raymond James The Only Story Today is “What Will Alcoa Report?” Market: 10:38 AM This is how you day trade a High and Tight Flag: 10:30 AM Crude oil inventories drop unexpectedly.

The number of homes for sale in and around Dothan remained fairly level during September. There were 1047 homes listed in the Dothan MLS on the first Monday of this month, which is down just slightly from the 1050 number in early September. Still, the trend for the past several months has been downward, so we’ll hope that this drop in inventory continues so we can return to a more balanced market.  Absorption rate Just as the number of homes for sale has leveled off, the absorption rate has done the same.

LAS VEGAS-The Las Vegas retail market absorbed 545,100 square feet during the third quarter, halting three quarters of negative net absorption and lowering overall vacancy by 20 basis points to 9.9%, according to a new report by Applied Analysis, a locally based business research and advisory firm that tracks the commercial real estate and gaming markets.

You have passed calendar weeks of your individual meter or put a great amount of your budget designing and developing a recent site. You have researched keywords, written pages of commission blueprint optimised message dependent on those keywords, and you’ve assure that every page has a clearly defined Call To Action (CTA) and Particular Selling Proposition (USP). You have contributed contacts to buy your products or contacts to assort products and get optimised every inch of site real estate that you hold.

When you’ve enjoyed the type of success that JPMorgan Chase chief executive officer Jamie Dimon has recently, delivering an encore performance is not going to be easy. Last year, Dimon was the toast of Wall Street after pulling off the purchases of Bear Stearns and Washington Mutual at bargain basement prices within the span of just 6 months. Shareholders, as a result, enjoyed some of the biggest returns within the industry, with JPMorgan Chase (JPM, Fortune 500) stock gaining roughly 9% since Lehman Brothers collapsed last fall.

BlackRock, the fund manager, remains bullish on stocks, particularly in the United States and in emerging markets, forecasting U.S. equity markets will offer annual returns of 6 to 8 percent over the next several years.In a report released on Tuesday, however, the firm warned investors to prepare for an imminent correction in prices, following year-to-date gains of 17 percent on the Standard & Poor’s 500 and of more than 60 percent on the benchmark MSCI index for emerging equity markets, Reuters

Region’s commercial real estate vacancies foster empty feeling San Diego Union Tribune … percent vacancy rate for the first time in 16 years, CB Richard Ellis said yesterday in its third-quarter report on the commercial real estate market. … and more »

Between Western imports and domestic consumption, trash landfills in several cities are now quickly running out of space [zh]. Trash-to-energy incineration plants have been in use for several years, and while now banned from urban areas, continue however to be a cause of concern for urban residential communities.Southern Metropolis Daily journalist Liu Tianzhao has been paying the issue attention recently on Twitter after her work was harmonized [zh] pre-publication, noting that regulations passed

Between Western imports and domestic consumption, trash landfills in several cities are now quickly running out of space [zh]. Trash-to-energy incineration plants have been in use for several years , and while now banned from urban areas, continue however to be a cause of concern for urban residential communities.

Even though property inspections are not mandatory in every state, it’s always a good idea to get a third party opinion about the structure of the property before investing your hard-earned money. Property inspectors take a close look at the foundation, plumbing and electrical system to ensure nothing is a hazard and everything is up to code.Experienced inspectors will most likely have their own evaluation sheet they will submit to you but this free Buyer’s Property Inspection Report can be used to compare the categories on the inspector’s report to be sure they looked at every nook and cranny of your property.

by Judy N Gray If you are interested in improving or rebuilding your financial standing with creditors you may want to look into a credit repair program. These programs help debtors repair their credit and also teach them how to transform bad spending or payment behavior in order to put off future difficulties. There are credit repair programs that allow the debtor to work out a solution with their creditors by making measures to pay off their existing debt by lowering the balance due, lowering the interest rate or even eliminating interest payments.

by Virginia Z Green All of the three major credit bureaus distribute their own credit report. If you want a summation of all of the reports combined you can get a 3 in 1 report. The 3 in 1 report comprises the economic history of an individual or a group in order to “report their credit-worthiness”. It is an estimate of whether or not they have the trustworthiness to pay off a new debt. All three of the key credit reporting agencies will provide information for the 3 in 1 report.

What began in 1700 as a deed for 175 acres had already been reduced by the time Jefferson visited to the slice it occupies today. Most of the land was lost in 1730, when the Indians handed over 100 acres “in consideration of twenty Dutch blankets, four barrels of cider, and a sum of three pounds.”Thus the scene at Squaw Lane, which is the tribe’s main source of revenue. The street is chockablock with smoke shops with pastel vinyl awnings: Geronimo’s, Tammy’s, Princess Rainbow Smoke Shop, the Peace Pipe Smoke Shop.

The U.S. office vacancy rate reached a five-year high in the third quarter, pushed up by extra unused space that just about wiped out all the gains made during the commercial real estate boom, according to real estate research firm Reis Inc. The national vacancy rate rose 0.6 percentage point to 16.5 percent from the prior quarter and is up 2.3 percentage points from a year earlier, according to a report Reis released on Wednesday. “The last time we saw vacancies in the mid-16s was at the end of 2004,” Victor Calanog, Reis director of research said.

U.S. banks are slow to take losses on battered commercial real-estate loans, said a Fed report, and with low loan-loss reserves risk a replay of the bust in the housing market now hitting the sector.

Last week, Belmont Chief of Police Mattei and Belmont Police Captain Dan DeSchmidt visited the Belmont Heights, Belmont neighborhood association meeting (BHCIA) to discuss several pertinent issues to Belmont Heights, Belmont home owners. What Was Discussed? Some of the topics covered included: An Update on the Al Korn Murder Case Traffic Issues Affecting Belmont Heights, Belmont Recent Burglaries and Thefts in Belmont Heights, Belmont Update on Al Korn Murder Case in

Welcome to the Arlington Home Sales Report OK – another month done – here’s the last of the market reports for 9/09 – Arlington MA Homes Sold in September 2009 .  Homes on the Market in Arlington 112 homes were listed for sale in Arlington MA on September 30, 2009 priced between $179,000 and $1,499,000 and on the market for an average of 86 days.

Reuters Office Rents Dive as Vacancies Rise Wall Street Journal … compared with the same period a year ago, the steepest year-over-year decline since 1995, according to Reis Inc., a New York real-estate research firm. … US office market vacancy rate at five-year high-report Reuters Residential vacancy rates increase Medill Reports: Chicago Renting in Boston gets easier Boston Herald Newser  - Atlantic Online  - The Real Deal New York (blog)

NEW YORK, Oct 7 (Reuters) – The U.S. office vacancy ratereached a five-year high in the third quarter, pushed up byextra unused space that just about wiped out all the gains madeduring the commercial real estate boom, according to realestate research firm Reis Inc. The national vacancy rate rose 0.6 percentage point to 16.5percent from the prior quarter and is up 2.3 percentage pointsfrom a year earlier, according to a report Reis released onWednesday.

DSNews.com New York’s Real Estate ‘Spring’ Came in Third Quarter This Year, Report Says DSNews.com Spring came a little late to New York this year due to “frozen market conditions last fall,” according to a report on the real estate market in Manhattan. … Falling Manhattan Apartment and Condo Prices Drive Biggest Sales Gain in 13 … Real Estate Channel all 7 news articles »

DSNews.com New York’s Real Estate ‘Spring’ Came in Third Quarter This Year, Report Says DSNews.com Spring came a little late to New York this year due to “frozen market conditions last fall,” according to a report on the real estate market in Manhattan. … and more »

The Toronto Real Estate Board had a record 25,776 sales in July, August and September – the higest level of third-quarter sales EVER!  There were 8,196 house and condo sales during the month of September – another record as well.  The third-quarter ratio of sales-to-listings averaged 52% which was another TREB high.

The U.S. government has been helping to prop up housing sales by keeping interest rates artificially low and by offering $8,000 to renters who purchase homes. A new report by Capital Economics in Toronto suggests that the government has succeeded in giving a needed boost to the market, but the recovery would likely continue with or without the incentives. (The deadline for first-time buyers to take advantage of the $8,000 tax credit is fast approaching. To get the credit, buyers must close by Nov.

U.S. banks are slow to take losses on battered commercial real-estate loans, said a Fed report, and with low loan-loss reserves risk a replay of the bust in the housing market now hitting the sector. Read more

Distress is piling up in the multifamily market, but it’s still not as bad as the other real estate sectors, according to the Trouble Assets Radar from New York-based Real Capital Analytics (RCA). According to the report, 588 apartment communities totalling $8.1B fell into distress (defined as default, foreclosure or bankruptcy) in June.Apartment Finance Today AFT – September/October 2009 [8 - 9].Tags: apartment communities, bankruptcy, commercial real estate, default, development, foreclosure,

Housing Market Rebound Continues in September     In September 2009, Greater Toronto REALTORS® reported 8,196 sales, up 28 per cent from September 2008. The average price for September transactions was $406,877 – up by 10 per cent compared to the same month last year.   “We have experienced an increasing rate of existing home price growth in the GTA as sales have continued outpace 2008 results,” said TREB President Tom Lebour.

Andy Smyth is a straight-speaking man, runs a great brokerage business in Idaho, and has become a good partner with The Land Report. Andy recently told me that after experiencing a downward period in the land market the likes of which he’s never seen before, he is finally seeing signs of things turning around for land deals in his neck of the woods. We asked Andy if he would mind us picking his brain a little bit, and he obliged. Land Report : What got you into the land business, and how long have you been at it? Andy Smyth : I was born into it.

The foreclosure wave is still pretty strong in the United States. In fact, it has been found in some reports that one in every five homeowners owes more than the present value of the home. Situation of High Point foreclosures is not entirely different and there are quite a few … foreclosure listings San Antonio foreclosure listings continued to pull down home prices in August, based on a report from the San Antonio Board of Realtors.

Many of the same U.S. mortgage lenders that contributed to the real estate boom by lending money to buyers without verifying their ability to make the payments now seem to be targeting seniors with reverse mortgages. Brokers are often given a financial incentive whenever they sell a reverse mortgage, which contributes to misleading claims to encourage more customers to sign their name to this type of mortgage – according to a report released by ConsumerLaw.org called “Subprime Revisited”.

NBC New York , Queens Makes Play for Islanders, New Arena More speculation about where the Islanders might end up. The problem is that there’s no place for them to play. Queens has big plans to develop the area. They already plan to use eminent domain and vaguely Stalinist-sounding business relocation programs to clear the land so that they can build a variety of residential, commercial and public spaces. The arena is just gilding the lily.

TORONTO, October 5, 2009 – In September 2009, Greater Toronto REALTORS® reported 8,196 sales, up 28 per cent from September 2008. The average price for September transactions was $406,877 – up by 10 per cent compared to the same month last year. “We have experienced an increasing rate of existing home price growth in the GTA as sales have continued to outpace 2008 results,” said TREB President Tom Lebour. “Consumers have remained confident in ownership housing as a long-term investment.

NUMBERS DO NOT LIE! When I entered the commercial Real Estate industry in 1984 I was told Real Estate is a numbers game. I never forgot that. The more people I reached, made a connection with, then provided solutions; they would turn into buyers and sellers. Simple, huh? I was young, and eager to succeed. I called a minimum of 50 people every day from the yellow pages. I ran as many newspaper ads as my pocket book would allow. I sent out fliers. I sent out postcards.

At the hearing, left to right: Architect Jean Nouvel, David Penick of Hines, MoMA’s Glenn Lowry, project attorney Michael Sillerman I’m going to leave the story of the Barnes’ design plans to the Philadelphia Inquirer ‘s Inga Saffron for now. (Her expanded report is here .) That’s because I’ve got to bring you the news from the hearing I attended today on the MoMA/Hines tower. As your may remember, Jean Nouvel ‘s skyscraper had grown, in stages , to 1,250 feet (the height of the Empire State Building, without its antenna).

Purchasing a home is a rewarding yet time consuming process. Building a home from the ground up can be even more so. It is important to understand the company that you choose to build your home, along with different situations that may arise during the building process. Here are five things to consider when planning to purchase a builder home: Know What You Want Unfortunately, there is a lot of legwork involved in essentially designing your own home.

Buying Hilo real estate can be a hair raising experience. You’ll experience a roller coaster of emotions while finding the right place, securing the loan and finally moving in. For most of us, the first time home purchase is the largest investment that we’ve ever considered. After all, the thought of buying something so grand and personal could sometimes be nerve-racking. Most home purchasers do little or no research before they invest their nest egg.

Full story here from Pam Martens via CounterPunch.org. “A federal agency tasked with expanding the American dream of home ownership and affordable housing free from discrimination to people of modest means has been quietly moving a chunk of that role to Wall Street since 2002.  In a stealth partial privatization, the U.S. Department of Housing and Urban Development (HUD) farmed out its mandate of working with single family homeowners in trouble on their mortgages to the industry most responsible for separating people from their savings and creating an unprecedented wealth gap that renders millions unable to pay those mortgages.