Source: http://rss.cnn.com/~r/rss/money_realestate/~3/4w_hKptYtT0/index.htm
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Wednesday, August 31, 2011
Mortgage rates keep falling: 30-year nears record
Just when it seemed mortgage rates weren't going to get any lower, they started testing new lows.
New-home sales dip in July
New-home sales fell once again in July, the third straight month of declining sales for hard-pressed home builders.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/lttWeE_Na8I/index.htm
Tuesday, August 30, 2011
Property Values: Real Estate for $850,000
A waterfront house on the Puget Sound; a house in Honolulu overlooking the Pacific; and a Victorian in Savannah, Ga.
Source: http://feeds.nytimes.com/click.phdo?i=c9a01dfbb8763b68e704528f1518c804
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Monday, August 29, 2011
Foreclosures fall for 10th straight month
Foreclosure filings dropped once again in July, hitting their lowest level since November 2007, as processing delays and foreclosure prevention measures enabled a larger number of delinquent borrowers to remain in their homes.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/G0bZuJiEn1o/index.htm
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Slideshow: Renderings of Twin Cities developments
Architectural renderings can be powerful. They can help a developer convince a tenant to sign a lease. They can inspire a large benefactor to make a contribution. And they can anger a neighborhood group or inspire competition. When you see a lot of renderings in one place, it also can also give you hope that the building and development pipeline is starting to get filled. On a walk through the IDS Center Crystal Court on Nicollet Mall on Monday, I was pleased to run across the exhibit that consultant Peter Bruce puts together every year...
Sunday, August 28, 2011
Investors plant legal trap to halt $8.5 billion MBS settlement
Investors in soured Countrywide mortgage-backed securities used a legal trap Friday to block a controversial $8.5 billion MBS settlement between The Bank of New York Mellon and Bank of America (BAC: 7.76 +1.44%).
The plaintiff in the case, Walnut Place, represents investors in Countrywide MBS who are trying to block Bank of New York Mellon ? [...]
The plaintiff in the case, Walnut Place, represents investors in Countrywide MBS who are trying to block Bank of New York Mellon ? [...]
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Saturday, August 27, 2011
The Bicycle Muscles In
Bicycle ridership in New York City has boomed in recent years, and many buildings are adding or promoting bike rooms.
Source: http://feeds.nytimes.com/click.phdo?i=c41c64ad8627bd6db78efed33e3a39a9
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Friday, August 26, 2011
Video Update: Amy Brandt, CEO of Vantium Capital
Amy Brandt, CEO of Vantium Capital, is known in the housing economy for leading the development of the first, automated underwriting decisioning system, WMC Direct.
Brandt's career has taken her from WMC Mortgage Corp., where she rose to the position of CEO, to Vantium Capital, an Apollo portfolio company based in Irving that provides specialty servicing, [...]
Brandt's career has taken her from WMC Mortgage Corp., where she rose to the position of CEO, to Vantium Capital, an Apollo portfolio company based in Irving that provides specialty servicing, [...]
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Welsh brokerage to become to Colliers Aug 1.
The familiar orange and black signs are going away. Welsh Cos. will begin a major branding change Monday, Aug. 1, when switches its brokerage company to the Colliers International brand. Minnetonka-based Welsh announced in mid June that it had signed a deal to affiliate the company with Colliers International. Welsh wasn't acquired by Colliers and it doesn't expect the affiliation mean any immediate changes for its employees or customers. If the name Colliers sounds familiar, its because its been here before...
Thursday, August 25, 2011
enotes - May 31, 2011
MAAR's weekly electronic newsletter for the week of May 31, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_05-31.htm
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Currents | Deals: Sales at Blu Dot, the Habitat Shop and Others - Deals
Discounts on furniture, throw pillows, antiques and more.
Source: http://feeds.nytimes.com/click.phdo?i=a4317306a2f05f2d6659a4a580fe76d4
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Wednesday, August 24, 2011
New Home Sales Drop for Fourth Straight Month
Filed under: News
WASHINGTON - The number of people who bought new homes fell for the fourth straight month in July, putting sales on track to finish this year as the worst on records dating back half a century.Sales of new homes fell nearly 1 percent in July to a seasonally adjusted annual rate of 298,000, the Commerce Department said Tuesday. That's less than half the 700,000 that economists say represent a healthy market.
Housing remains the weakest part of the economy. Last year was the worst for new-home sales on records dating back a half century.
While new homes represent less than one-fifth of the housing market, they have an outsize impact on the economy. Each home built creates an average of three jobs and $90,000 in taxes, according to the National Association of Home Builders.
But all sales remain weak. Sales of previously occupied homes fell in July for the third time in four months, and they are trailing last year's 4.91 million sales, the fewest since 1997. In a healthy economy, people buy roughly 6 million existing homes annually.
High unemployment, larger required down payments and tougher lending standards are preventing many people from buying homes.
Plunging stocks and a growing fear that the U.S. could tip back into another recession are also keeping people from entering the troubled housing market.
A report last week on sales of previously owned homes showed that more sales than usual fell apart at the last minute, a sign that many buyers may be nervous about the economy. At least 16 percent of deals were canceled head of closings last month - four times the rate in May.
Foreclosures and short sales are forcing down prices. A short sale is when a lender accepts less than what is owed on the mortgage.
Those homes are selling at an average discount of 20 percent, and they lower neighboring values. That's made many re-sales a bargain compared with new homes, creating an average 30 percent disparity in prices.
Sales of new homes have fallen 18 percent in the two years since the Great Recession officially ended.
A telling sign of how bad things have gotten for the housing industry: Prices have dropped more since the recession started, on a percentage basis, than during the Great Depression of the 1930s.
And it took 19 years for prices to fully recover after the Depression.
Copyright 2011 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
Also see:
6 Cost-Saving Reasons to Buy New Construction
Buying New Construction Homes, the Pros and Cons [Video]
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.
Permalink | Email this | Linking Blogs | Comments
Source: http://realestate.aol.com/blog/2011/08/23/new-home-sales-drop-for-fourth-straight-month/
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Tuesday, August 23, 2011
Weekly Market Activity Report - May 2, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of May 02, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_05-02.pdf
Monday, August 22, 2011
Mortgage Fraud Scheme Targets Treasury Secretary
Filed under: News, Foreclosures
The housing boom and bust brought forth many accounts of mortgage fraud - but it's only recently that the absurdity of some schemes is coming to light.
A 35 year-old Maryland man, Bryan Gardner, has been charged with successfully paying his $353,000 Citibank mortgage with a false money order backed from then Secretary of the Treasury Henry M. Paulson, Jr. in 2009, Fox News reports. Law enforcement and fraud experts alike are stunned that the scam worked for Gardner who signed the order simply as Paulson's "Authorized Representative."
After fraudulently purchasing the Bowie, Maryland home with the money order, Gardner reportedly sold it for $254,900 within a matter of months before he "distributed the proceeds to others," according to the Secret Service affadavit. Perhaps more absurd than the ruse itself, is that it was Gardner's second time attempting it. He found success on his second try by slightly raising the amount of the money order, court documents say.
Read the full story at The Huffington Post.
See also:
- Google Blamed for Mortgage Fraud
- Mortgage Fraud Hits New High
- Foreclosure Fraud Could Cost You Your Home
More from AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.
Permalink | Email this | Linking Blogs | Comments
Source: http://realestate.aol.com/blog/2011/08/18/mortgage-fraud-scheme-targets-treasury-secretary/
Sunday, August 21, 2011
In New York, a Sprinkling of Higher Prices
Home prices have stagnated all over the city, but in a few desirable pockets, and even in certain buildings, it is once again a sellers? market.
Source: http://feeds.nytimes.com/click.phdo?i=c58513d4cc23453224027c4727aa83f3
Saturday, August 20, 2011
California AG targets law firms in foreclosure rescue scheme
California Attorney General Kamala Harris filed suit this week against three Los Angeles area law firms, several lawyers and 14 others in a multi-million dollar foreclosure-relief scam.
It's the first major consumer action spawned by the AG's Mortgage Fraud Strike Force, Harris' office said.
In the complaint, the California AG alleges the defendants promised to place distressed [...]
It's the first major consumer action spawned by the AG's Mortgage Fraud Strike Force, Harris' office said.
In the complaint, the California AG alleges the defendants promised to place distressed [...]
Weekly Market Activity Report - March 14, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of March 14, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_03-14.pdf
Friday, August 19, 2011
Square Feet: Ambitious Plans for a Building Where Sears Served Atlanta
Jamestown Properties expects to spend $180 million to convert a 2.1-million-square-foot building into a mixed-use cluster of restaurants, apartments and office space.
Source: http://feeds.nytimes.com/click.phdo?i=d933006308d6c2a85967c5d08b7e1480
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Thursday, August 18, 2011
Wednesday, August 17, 2011
enotes - May 23, 2011
MAAR's weekly electronic newsletter for the week of May 23, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_05-23.htm
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Tuesday, August 16, 2011
enotes - February 21, 2011
MAAR's weekly electronic newsletter for the week of February 21, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_02-21.htm
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Housing recovery slips out of sight
Any glimmer of hope that the housing market will stage a recovery in the upcoming months has vanished, thanks to the recent spate of bad economic news that has been making headlines over the past several weeks.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/kIfuhqBCePY/index.htm
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Monday, August 15, 2011
Homebuilder Confidence Stays Flat As Obstacles Persist
Filed under: News
WASHINGTON - Homebuilders are just as pessimistic about the depressed housing market as they were two years ago.The National Association of Home Builders said Monday that its index of builder sentiment in August was unchanged at 15. The index has been below 20 for all but one month during the past two years.
Any reading below 50 indicates negative sentiment about the housing market. It hasn't reached 50 since April 2006, the peak of the housing boom.
Separate gauges of current single-family home sales and foot traffic of prospective buyers each rose one point this month. But the outlook for sales for the next six months fell two points.
Last year, the number of people who bought new homes fell to its lowest level dating back nearly a half-century. Sales this year haven't fared much better.
Builders are struggling to compete with foreclosures, which have made the price of re-sales more competitive. Many buyers are having difficulty obtaining loans or meeting higher down payment requirements. Low appraisals are scuttling some deal after contracts have been signed. Some would-be buyers who want to purchase a new home can't sell their old one.
While new homes make up a small portion of sales, they have an outsize impact on the economy. Each new home built creates an average of three jobs for a year and generates about $90,000 in taxes, according to the builders' trade group.
A special question on the survey this month showed that 41 percent of builders had lost a contract because a buyer could not sell their current home, said Bob Nielsen, chairman of the builders' group.
David Crowe, the group's chief economist, said a weakening U.S. economy and high unemployment are also "discouraging many potential buyers from exploring a home purchase." Even record-low mortgage rates have done little to boost sales.
An index of builders' outlook in the Northeast and West rose four points and one point, respectively. Sentiment in the South stayed the same in August while it declined two points in the Midwest.
Copyright 2011 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
Also see:
6 Cost-Saving Reasons to Buy New Construction
Buying New Construction Homes, the Pros and Cons [Video]
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.
Permalink | Email this | Linking Blogs | Comments
Source: http://realestate.aol.com/blog/2011/08/15/homebuilder-confidence-stays-flat-as-obstacles-persist/
Sunday, August 14, 2011
The 200+ - May 2011
MAAR's tracking tool for local housing market activity has been updated with data through May 2011.
Source: http://www.mplsrealtor.com/the200plus.aspx
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Market Turmoil Stings Commercial Sector
Tremors in the market for commercial-mortgage-backed securities are hindering the recovery of the commercial-property sector.
Saturday, August 13, 2011
New home sales slip again in June
Sales of new single-family homes slipped for a second month in a row in June, falling short of estimates.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/k1kPyPpSQ0A/index.htm
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Friday, August 12, 2011
Housing Supply Overview - June 2011
A thorough and detailed look at the current supply of homes for sale and absorption rates by price range, property type and construction status for the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/HSO/hso_2011_06.pdf
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In the Region | Westchester: When Agents Play Two Roles
Dual agency, by which an agent represents both buyer and seller, is becoming more common. But not every real estate professional thinks it is a good idea.
Source: http://feeds.nytimes.com/click.phdo?i=574df3780bf0d1cb5a71ab2ee2c2344f
Thursday, August 11, 2011
Monthly Market Indicators - February 2011
A comprehensive look at the entire Twin Cities housing market in one location.
Source: http://www.mplsrealtor.com/downloads/market/MMI/archive/mmi_2011_02.pdf
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Wednesday, August 10, 2011
A Mall By Any Other Name...
Mall owner General Growth Properties chose a perplexing name last week for its planned spinoff of 30 low-quality malls: Rouse Properties Inc.
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enotes - June 6, 2011
MAAR's weekly electronic newsletter for the week of June 6, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_06-06.htm
Tuesday, August 9, 2011
The 200+ - April 2011
MAAR's tracking tool for local housing market activity has been updated with data through April 2011.
Monday, August 8, 2011
Market Leader cuts losses
Keller Williams eEdge contract helps boost revenue
Source: http://feedproxy.google.com/~r/inmannews/~3/TOcCtSq4Qho/market-leader-cuts-losses
Sales Still on the Rise as the Role of Foreclosures Diminishes
News release covering Twin Cities housing statistics for June 2011.
Source: http://www.mplsrealtor.com/downloads/inside/press-releases/news_2011-07.pdf
Sunday, August 7, 2011
Saturday, August 6, 2011
Weekly Market Activity Report - June 13, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of June 13, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_06-13.pdf
Housing Supply Overview - June 2011
A thorough and detailed look at the current supply of homes for sale and absorption rates by price range, property type and construction status for the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/HSO/hso_2011_06.pdf
Friday, August 5, 2011
The Appraisal: Buy This Apartment, and Get a Used Car Absolutely Free!
Across the city, sellers of luxury apartments have been whipping themselves to a froth finding extravagant freebies that will say just the right things about their properties.
Source: http://feeds.nytimes.com/click.phdo?i=d9fb39606d453f214eca82946f41a885
Thursday, August 4, 2011
East Coast companies buy Shakopee apartments
The Praedium Group and CAPREIT recently spent $19 million to buy a 202-unit apartment building in Shakopee known as the Shenandoah Apartments, according to a news release. The seller, who was described in the statement as "a local investor," hadn't been marketing the properties for sale. The apartments, at 935 Alysheba Road, were built in 2005. The units have private patios, balconies, 9-foot ceilings, walk-in closets, and full-size washers and dryers. The complex also includes an outdoor swimming pool, a clubhouse and fitness center, a billiards room and walking trails...
Wednesday, August 3, 2011
Hotel-and-Rodeo Proposal Spurs Debate
A proposal to build a huge Gaylord Entertainment convention hotel-and-rodeo complex in the Denver suburb of Aurora has sparked a shootout among hoteliers, city leaders and others at odds about whether public financial assistance gives such projects an unfair advantage.
Chipping away at bricks and mortar
Big brokerages cutting office space without going entirely virtual
Source: http://feedproxy.google.com/~r/inmannews/~3/NFhjW9wLowk/chipping-away-bricks-and-mortar
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Tuesday, August 2, 2011
Weekly Market Activity Report - May 9, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of May 09, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_05-09.pdf
4 keys to paperless real estate transactions
Save time, money and provide better customer service
Source: http://feedproxy.google.com/~r/inmannews/~3/vYumzjw0wTc/4-keys-paperless-real-estate-transactions
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Monday, August 1, 2011
CMBS loan liquidations drop in July: Trepp
More than $1.3 billion in commercial mortgage-backed securities conduit loans were resolved with losses in July, commercial real estate analytics firm Trepp said Monday.
Overall, 175 conduit CMBS loans were liquidated this past month, down from 197 liquidations in June when $1.8 billion in CMBS conduit loans were resolved with losses.
In July, the liquidation of conduit [...]
Overall, 175 conduit CMBS loans were liquidated this past month, down from 197 liquidations in June when $1.8 billion in CMBS conduit loans were resolved with losses.
In July, the liquidation of conduit [...]
Parmida Home store to open at West End
A Texas-based home furnishings retailer will open next spring in the Shops at West End in St. Louis Park.
Parmida, based in McKinney, Texas, is a botique of high-end home living and entertainment merchandise ranging from furniture and dinnerware to gourmet chocolate and cheese.
It has signed an 11,000-square-foot lease to go into the West End lifestyle center near the intersection of Interstate 394 and Highway 100.
The West End is a joint-venture development of Duke Realty Corp. and Jeffrey R...
Parmida, based in McKinney, Texas, is a botique of high-end home living and entertainment merchandise ranging from furniture and dinnerware to gourmet chocolate and cheese.
It has signed an 11,000-square-foot lease to go into the West End lifestyle center near the intersection of Interstate 394 and Highway 100.
The West End is a joint-venture development of Duke Realty Corp. and Jeffrey R...
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