Modus Hotels converts Washington Suites Georgetown - The former executive suites, at 2500 Pennsylvania Avenue, is the 10th property refurbished by Modus, which aims for both corporate and leisure travelers.
Carroll Square trades for $121m (Commercial Property Executive) The prominent office building, 178,000 s.f. in size, traded to Germany's GLL Partners at $682 per square foot.
Homes now selling more quickly (Realestaterama) The average amount of time to unload a house is down to 69 days, down from 98 days in July of 2011. Economists chalk it all up to low inventory.
Apartment and condo market shows improvement in 2nd quarter (NAHB) A survey finds that builder sentiment, measured broadly, is improving, suggesting that production will increase in the near future.
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Tampilkan postingan dengan label MRER. Tampilkan semua postingan
Jumat, 07 September 2012
Kamis, 06 September 2012
Morning Real Estate Fix
Metro DC area's loss of farmland (NewEraProgress.com) The DC region's major loss of farmland to sprawling development can be partially ameliorated by conservation easements.
MoCo and AHC partner to buy 768 unit project (AHC) A Germantown garden community becomes the largest project of AHC, which will now serve low- and moderately low income residents, thanks to grants from Montgomery County.
DC's walkable real estate market (Atlantic Cities) In DC, as in other cities, walkability creates the market, but the greater DC area leads the nation in nation in "regionally significant walkable urban places." But if you're reading this already knew that because you probably live in one. Much of DC and the Rosslyn-Ballston corridor count for most of them.
DC Police get hand in shaping new development (Washington Post) DC Police Chief Lanier is embedding police commanders with developers in order to make the new developments less susceptible to crime. Case in point is the Wharf in southwest DC.
Mortgage applications down (Mortgage Bankers Assn) For those keeping track of the never-ending ups and downs of the housing and mortgage markets, new applications are falling, though refinances still capture 79% of the market, despite the fact that rates have not dropped recently.
MoCo and AHC partner to buy 768 unit project (AHC) A Germantown garden community becomes the largest project of AHC, which will now serve low- and moderately low income residents, thanks to grants from Montgomery County.
DC's walkable real estate market (Atlantic Cities) In DC, as in other cities, walkability creates the market, but the greater DC area leads the nation in nation in "regionally significant walkable urban places." But if you're reading this already knew that because you probably live in one. Much of DC and the Rosslyn-Ballston corridor count for most of them.
DC Police get hand in shaping new development (Washington Post) DC Police Chief Lanier is embedding police commanders with developers in order to make the new developments less susceptible to crime. Case in point is the Wharf in southwest DC.
Mortgage applications down (Mortgage Bankers Assn) For those keeping track of the never-ending ups and downs of the housing and mortgage markets, new applications are falling, though refinances still capture 79% of the market, despite the fact that rates have not dropped recently.
Jumat, 31 Agustus 2012
Morning Real Estate Review
Group files to stop Georgia Avenue Wal-Mart (Washington Business Journal) Builders are expected to start construction of the site within weeks, but opponents have asked the Board of Zoning Adjustment to reverse the building permits issued earlier this year.
NIH signs 10 year lease in Bethesda (Washington Business Journal) The GSA has signed a lease renewing the NIH's Democracy Plaza lease of 365,000 s.f.
Contracts for commercial construction way up in NOVA (Virginia Business) Contracts for future construction surrounding DC on a 22% increase over July of 2011.
District picks Akridge-Argos group to develop Stevens School site (Washington Post) Gray's selected team will build a 10-story office building behind the school with ground floor retail.
NIH signs 10 year lease in Bethesda (Washington Business Journal) The GSA has signed a lease renewing the NIH's Democracy Plaza lease of 365,000 s.f.
Contracts for commercial construction way up in NOVA (Virginia Business) Contracts for future construction surrounding DC on a 22% increase over July of 2011.
District picks Akridge-Argos group to develop Stevens School site (Washington Post) Gray's selected team will build a 10-story office building behind the school with ground floor retail.
Kamis, 30 Agustus 2012
Morning Real Estate Review
DC's 21st century waterfront, connecting past with future (Atlantic Cities) The evolution of the revived waterfront is bringing design full circle, with urban parks ebbing and water-centered commerce on the rise.
Pending homes sales rise for 15th straight month (HousingWire) Pending home sales in July rose to the highest level since 2010.
Housing starts down in July, but permits up (NAHB) The up and down swing of new homes reflects builders' timidity about being burned by the market, with construction slowed by a conservative housing outlook.
Life insurance companies bullish on DC real estate (Globe St) As they make 2013 allocations, insurance companies are viewing DC as one of the top markets in the country, with investors bullish about next year.
Crystal City starts work on its Metro entrance enhancement (Crystal City BID) A new, redesigned area outside the Metro entrance is another step in making neighborhood more attractive.
Pending homes sales rise for 15th straight month (HousingWire) Pending home sales in July rose to the highest level since 2010.
Housing starts down in July, but permits up (NAHB) The up and down swing of new homes reflects builders' timidity about being burned by the market, with construction slowed by a conservative housing outlook.
Life insurance companies bullish on DC real estate (Globe St) As they make 2013 allocations, insurance companies are viewing DC as one of the top markets in the country, with investors bullish about next year.
Crystal City starts work on its Metro entrance enhancement (Crystal City BID) A new, redesigned area outside the Metro entrance is another step in making neighborhood more attractive.
Rabu, 29 Agustus 2012
Morning Real Estate Review
Bethesda's air rights center on the block for $257m (Gazette) One of the largest office complexes in Bethesda, owned by TIAA-CREF, holds over 700,000 s.f. of office space, and sold for $140m in 2002.
U.S. home prices post first year over year gain since 2010... (Associated Press) June prices were up, according to S&P/Case Shiller index, the first year over year increase in 2 years. While far from a trend, policy makers are reaching for any sign of a bright spot in the housing market.
...but the U.S. housing market may be due for a stumble (Forbes) The market may (or may not) have hit bottom, but the real question is how long it will stay there. Some evidence indicates that the positive forces halting declines may be unsustainable.
Housing recover moves to the suburbs (Washington Post) Unlike the rest of the country, home prices in DC have been up 29 of the last 33 months, but prices rises have been much more common in the core areas, though suburbs are now showing some resilience as well.
Office of Planning rejects Adams Morgan hotel (Washington Business Journal) For the second time, the District's Office of Planning says no to the sole hotel in AdMo, despite a strong endorsement from the ANC. The Zoning Commission now has final say.
U.S. home prices post first year over year gain since 2010... (Associated Press) June prices were up, according to S&P/Case Shiller index, the first year over year increase in 2 years. While far from a trend, policy makers are reaching for any sign of a bright spot in the housing market.
...but the U.S. housing market may be due for a stumble (Forbes) The market may (or may not) have hit bottom, but the real question is how long it will stay there. Some evidence indicates that the positive forces halting declines may be unsustainable.
Housing recover moves to the suburbs (Washington Post) Unlike the rest of the country, home prices in DC have been up 29 of the last 33 months, but prices rises have been much more common in the core areas, though suburbs are now showing some resilience as well.
Office of Planning rejects Adams Morgan hotel (Washington Business Journal) For the second time, the District's Office of Planning says no to the sole hotel in AdMo, despite a strong endorsement from the ANC. The Zoning Commission now has final say.
Selasa, 28 Agustus 2012
Morning Real Estate Review
Akridge takes on new partner at 1200 17th Street (Herald Online) Akridge announces that Mitsui Fodusan America has bought out First Potomac Realty Trust on its portion of Akridge's office development.
Bob Peck joins Gensler, expanding consulting practice (Washington Post) Peck, who formerly headed the GSA's Public Building Commission, will serve as a regional head of office design consulting.
Trumps' rejuvenation of Old Post Office recalls Willard renovation (Washington Post) The resuscitation of a historic hotel draws comparisons to Oliver Carr's work reviving the Willard in 1981, though 30 years ago Pennsylvania Avenue was a much different place.
Repeated home refinancing: how low can you go? (Wall Street Journal) Homeowners are repeatedly financing as incentives go up and costs go down.
As housing recovers, will apartment boom end? (CNBC) With housing showing early (though not consistent) signs of recovering, will it have an effect on the high rents being demanded by apartment builders?
Bob Peck joins Gensler, expanding consulting practice (Washington Post) Peck, who formerly headed the GSA's Public Building Commission, will serve as a regional head of office design consulting.
Trumps' rejuvenation of Old Post Office recalls Willard renovation (Washington Post) The resuscitation of a historic hotel draws comparisons to Oliver Carr's work reviving the Willard in 1981, though 30 years ago Pennsylvania Avenue was a much different place.
Repeated home refinancing: how low can you go? (Wall Street Journal) Homeowners are repeatedly financing as incentives go up and costs go down.
As housing recovers, will apartment boom end? (CNBC) With housing showing early (though not consistent) signs of recovering, will it have an effect on the high rents being demanded by apartment builders?
Senin, 27 Agustus 2012
Morning Real Estate Review
A brief history of urban planning (Atlantic Cities) Now a century old, urban planning has become more about people than about design.
Pushed out by foreclosure? You have until the end of this year to try and reverse that (Washington Post) The federal government has given buyers whose houses were foreclosed by banks until July to apply for a review of the foreclosure, but just extended that until December 31.
New Fannie Mae guidelines streamline short sales (Examiner) The new guidelines follow the FHA's recent rule changes, rules that the government says will help avoid foreclosures by helping borrowers meet easier paperwork requirements.
Carlyle faces suit by Middle East investors (Washington Post) After losing bets on real estate investments with foreign capital, local real estate investor Carlyle is being sued by its former partners.
Fairfax County approves 8-story apartment building (Patch) The approval allows A&R Development to move forward with its 173-unit project in Huntington.
Georgetown U. takes on Forest City to help in expansion plans (Washington Post) Developer of the Yards in southeast DC is tapped to find space for Georgetown's expected expansion in the future as it tries to provide more housing on campus.
Pushed out by foreclosure? You have until the end of this year to try and reverse that (Washington Post) The federal government has given buyers whose houses were foreclosed by banks until July to apply for a review of the foreclosure, but just extended that until December 31.
New Fannie Mae guidelines streamline short sales (Examiner) The new guidelines follow the FHA's recent rule changes, rules that the government says will help avoid foreclosures by helping borrowers meet easier paperwork requirements.
Carlyle faces suit by Middle East investors (Washington Post) After losing bets on real estate investments with foreign capital, local real estate investor Carlyle is being sued by its former partners.
Fairfax County approves 8-story apartment building (Patch) The approval allows A&R Development to move forward with its 173-unit project in Huntington.
Georgetown U. takes on Forest City to help in expansion plans (Washington Post) Developer of the Yards in southeast DC is tapped to find space for Georgetown's expected expansion in the future as it tries to provide more housing on campus.
Jumat, 24 Agustus 2012
Morning Real Estate Review
Sequestration: Government cutbacks are the thing to watch (Costar) The coming $1.2 trillion in budget cuts could have a big impact on the DC market, though market watchers fear the big picture even more.
Existing home sales show element of vitality to recovery (WLTX) Existing home sales rose 2.3% in July, and prices were up 9.4% over this time last year, kept up by a smaller inventory, according to the National Association of Realtors.
Norton: Federal construction projects still skimping on local hiring (Washington Times) Number of residents getting local federal jobs is going up, but it remains unacceptably high.
Former ex-Tarp boss issues "modern" financial reform (CNBC) When it comes to official reform, the Obama administration could do what it did with GM.
Existing home sales show element of vitality to recovery (WLTX) Existing home sales rose 2.3% in July, and prices were up 9.4% over this time last year, kept up by a smaller inventory, according to the National Association of Realtors.
Norton: Federal construction projects still skimping on local hiring (Washington Times) Number of residents getting local federal jobs is going up, but it remains unacceptably high.
Former ex-Tarp boss issues "modern" financial reform (CNBC) When it comes to official reform, the Obama administration could do what it did with GM.
Kamis, 23 Agustus 2012
Morning Real Estate Review
State of the DC market summer of 2012 (Huffington Post) This time when your agent tells you your house of choice is not going to last long so bid fast, he might not actually be lying.
Mortgage rates move lower following Fed minutes (Mortgage News Daily) Mortgage rates moved sharply downward following the release of the Federal Reserve Bank's minutes. Fed officials showed a strong commitment toward aggressive policies that would help the bond market, sending interest rates lower.
Voters fault Obama and Romney on solution to mortgage crisis (Huffington Post) President Obama's timid response to the housing crisis and Romney's silence on the issue have voters unhappy with both when it comes to solving the underwater mortgage problem.
Fannie Mae tightening standards for some loan types (Businessweek) FNMA, the largest provider of capital for home loans, said it will reduce loan to value ratios for some types of home purchases and refinances, from 97% to 90%. The average credit score requirement will go from 620 to 640.
Existing home sales rise despite tightening inventories (Mortgage News Daily) Sales of existing homes increased in July across the nation, to 4.47 million annually, a slight increase over June but a bigger increase over July of 2011.
Mortgage rates move lower following Fed minutes (Mortgage News Daily) Mortgage rates moved sharply downward following the release of the Federal Reserve Bank's minutes. Fed officials showed a strong commitment toward aggressive policies that would help the bond market, sending interest rates lower.
Voters fault Obama and Romney on solution to mortgage crisis (Huffington Post) President Obama's timid response to the housing crisis and Romney's silence on the issue have voters unhappy with both when it comes to solving the underwater mortgage problem.
Fannie Mae tightening standards for some loan types (Businessweek) FNMA, the largest provider of capital for home loans, said it will reduce loan to value ratios for some types of home purchases and refinances, from 97% to 90%. The average credit score requirement will go from 620 to 640.
Existing home sales rise despite tightening inventories (Mortgage News Daily) Sales of existing homes increased in July across the nation, to 4.47 million annually, a slight increase over June but a bigger increase over July of 2011.
Rabu, 22 Agustus 2012
Morning Real Estate Review
Construction confidence wanes across the country (American Surveyor) The Construction Confidence Index (CCI) combines three indexes for non-residential construction, all of which declined during the second quarter.
Near Southeast neighborhood revitalization came along before Nationals (GreaterGreater Washington) Development in near southeast DC was in bloom well before the Nationals Stadium came along, thanks to its proximity to Metro.
What happens to homeowners seeking help (New York Times) Graph: the likelihood of homeowners who request modification in getting permanent help.
FHA weighs in against eminent domain by municipalities (HousingWire) The Obama administration comes out against proposals by some cities and counties to "seize" underwater mortgages and replace them with government-backed loans for troubled homeowners.
Near Southeast neighborhood revitalization came along before Nationals (GreaterGreater Washington) Development in near southeast DC was in bloom well before the Nationals Stadium came along, thanks to its proximity to Metro.
What happens to homeowners seeking help (New York Times) Graph: the likelihood of homeowners who request modification in getting permanent help.
FHA weighs in against eminent domain by municipalities (HousingWire) The Obama administration comes out against proposals by some cities and counties to "seize" underwater mortgages and replace them with government-backed loans for troubled homeowners.
Selasa, 21 Agustus 2012
Morning Real Estate Review
Washington DC area attracts new retailers (Washington Post) With the lowest shopping center vacancy rate in the area, 5.3% compared to 9.2% for the nation as a whole.
Obama's slow response to housing crisis haunts presidency (New York Times) Having taken a do-over approach with automakers and banks, Obama cautiously chose not to bail out many homeowners, leaving the economy still reeling and imperiling his shot at a second term.
Obama to push for wider refinance plan (HousingWire) As House members advance varying bills to include refinancing options for a greater number of homeowners, the President vows to support changes to the law.
Slow housing starts offset boomtime construction (HousingWire) Housing starts have continued at less than half their normal pace for 4 years. The bright side: this may mean an eventual uptick in housing starts.
Refinancing a vacation home not so easy (New York Times) With such loans being intrinsically riskier, banks are more demanding of borrowers redoing their vacation home mortgage.
Obama's slow response to housing crisis haunts presidency (New York Times) Having taken a do-over approach with automakers and banks, Obama cautiously chose not to bail out many homeowners, leaving the economy still reeling and imperiling his shot at a second term.
Obama to push for wider refinance plan (HousingWire) As House members advance varying bills to include refinancing options for a greater number of homeowners, the President vows to support changes to the law.
Slow housing starts offset boomtime construction (HousingWire) Housing starts have continued at less than half their normal pace for 4 years. The bright side: this may mean an eventual uptick in housing starts.
Refinancing a vacation home not so easy (New York Times) With such loans being intrinsically riskier, banks are more demanding of borrowers redoing their vacation home mortgage.
Senin, 20 Agustus 2012
Morning Real Estate Review
How Trump landed the Old Post Office (Washington Post) The Donald - and daughter Ivanka - put their luxury brand to use in persuading the GSA they would create the best hotel, even if they "overpaid" for the property.
Trulia files for $75m IPO (Forbes) The on-line residential real estate company files one year after Zillow did the same. Trulia has reported $29m in revenue this year.
The incredible disappearing home inventory (Wall Street Journal) Inventory has been down nationwide, including 48% in Phoenix. The nation as a whole notice a 20% decline, with the middle tier of housing prices going down the most.
Low mortgage rates boost serial refinancers (National Public Radio) Historically low rates has led some to refinance repeatedly, though some see the upturn in rates as the end of the refinance market.
Trulia files for $75m IPO (Forbes) The on-line residential real estate company files one year after Zillow did the same. Trulia has reported $29m in revenue this year.
The incredible disappearing home inventory (Wall Street Journal) Inventory has been down nationwide, including 48% in Phoenix. The nation as a whole notice a 20% decline, with the middle tier of housing prices going down the most.
Low mortgage rates boost serial refinancers (National Public Radio) Historically low rates has led some to refinance repeatedly, though some see the upturn in rates as the end of the refinance market.
Jumat, 17 Agustus 2012
Morning Real Estate Review
Builders started less project in July (Washington Post) Constructions starts were down nationwide last month, but permits are now on the rise. While construction of single-family homes is down, apartment construction is up.
New federal rules change the appraisal process (Washington Times) All high-risk mortgages would have to have an appraisal first.
HUD to auction $1.7b in home loans (Bloomberg) A host of non-performing, federally insured home loans will be put on the block. The sale consists of 9400 loans.
New federal rules change the appraisal process (Washington Times) All high-risk mortgages would have to have an appraisal first.
HUD to auction $1.7b in home loans (Bloomberg) A host of non-performing, federally insured home loans will be put on the block. The sale consists of 9400 loans.
Kamis, 16 Agustus 2012
Morning Real Estate Review
Builder confidence continues to improve in August (National Assn of Home Builders) Builder confidence for newly built, single family homes improved for a 4th straight month in August, standing at one of the highest rates in 5 years, though that isn't saying much.
History will be kind to TARP (Wall Street Journal) The federal bailout helped stabilize many small and local banks, a service that will earn it commendations down the road, and that have already earned a net profit for the taxpayers - car industry excluded.
No more drive-by appraisals on some loans (Wall Street Journal) Rules proposed by federal regulators yesterday would require physical inspections of a property before financing, something banks are doing increasingly often.
Mortgage rates reach 2 month high (Mortgage News Daily) Despite lackluster underlying events, rates have been slowly creeping up this summer.
History will be kind to TARP (Wall Street Journal) The federal bailout helped stabilize many small and local banks, a service that will earn it commendations down the road, and that have already earned a net profit for the taxpayers - car industry excluded.
No more drive-by appraisals on some loans (Wall Street Journal) Rules proposed by federal regulators yesterday would require physical inspections of a property before financing, something banks are doing increasingly often.
Mortgage rates reach 2 month high (Mortgage News Daily) Despite lackluster underlying events, rates have been slowly creeping up this summer.
Rabu, 15 Agustus 2012
Morning Real Estate Review
Fannie Mae says its too early to declare victory on housing (Forbes) The mortgage giant showed strong gains in yesterday's report on the 2nd quarter, but it says headwinds remain, 2nd half may be not as strong as first half.
Wells Fargo pays $6.5m to SEC to settle mortgage sale charges (HousingWire) The mortgage giant was accused of selling risky mortgage packages to investors.
Residents plan to acquire Onyx apartment building near ballpark (Biz Journal) Tenants in the 266 unit building near the waterfront move to acquire the building under the District's first-right-of-refusal laws, after Canyon Johnson contracted to sell the building to Equity Residential.
Rising home prices in DC area push affordability to lower levels (National Assn of Home Builders) A national study finds that prices are rising nationwide, stretching affordability, despite historically low interest rates that make purchasing easier.
Fannie and Freddie: making money, but not enough to pay dividends owed to taxpayers for bailouts (Wall Street Journal) Through a complex financial arrangement with the federal government, the secondary mortgage buyers have no mechanism to pay back loans, and will keep drawing from the government in order to pay dividends, but those draw-down funds are getting depleted.
Wells Fargo pays $6.5m to SEC to settle mortgage sale charges (HousingWire) The mortgage giant was accused of selling risky mortgage packages to investors.
Residents plan to acquire Onyx apartment building near ballpark (Biz Journal) Tenants in the 266 unit building near the waterfront move to acquire the building under the District's first-right-of-refusal laws, after Canyon Johnson contracted to sell the building to Equity Residential.
Rising home prices in DC area push affordability to lower levels (National Assn of Home Builders) A national study finds that prices are rising nationwide, stretching affordability, despite historically low interest rates that make purchasing easier.
Fannie and Freddie: making money, but not enough to pay dividends owed to taxpayers for bailouts (Wall Street Journal) Through a complex financial arrangement with the federal government, the secondary mortgage buyers have no mechanism to pay back loans, and will keep drawing from the government in order to pay dividends, but those draw-down funds are getting depleted.
Selasa, 14 Agustus 2012
Morning Real Estate Review
Costar report shows more DC retail needed even after Wal-Mart (Washington Post) According to a new report by Costar, Washington D.C. proper is underserved by retailers - especially grocery stores - with 1 out of every 3 dollars spent on groceries by DC residents going outside the District, meaning that Wal-Mart won't harm DC retail.
Ivy City fights Gray's plan to create bus depot (Washington Post) One of the poorest neighborhoods in the city doesn't want DC's junk anymore and has filed a lawsuit.
Office vacancy rates in Arlington on the rise (Sun Gazette) The rest of the U.S is also seeing higher commercial vacancy rates, leading to higher taxes for homeowners.
Ivy City fights Gray's plan to create bus depot (Washington Post) One of the poorest neighborhoods in the city doesn't want DC's junk anymore and has filed a lawsuit.
Office vacancy rates in Arlington on the rise (Sun Gazette) The rest of the U.S is also seeing higher commercial vacancy rates, leading to higher taxes for homeowners.
Senin, 13 Agustus 2012
Morning Real Estate Review
Bidding wars return, home buyers get creative (Washington Post) Forget just having good credit - as the stock of homes for sale thins, bidding gets competitive, sometimes in weird and creative ways.
The politics of the reemergence of U Street, a short history of redevelopment (The Atlantic) A thoughtful response to the Post's story on changing demographics on U and 14th Streets: not as black and white as you think.
Happy birthday Pierre - lauding the prickly genius of DC's designer (Huffington Post) The genius behind the grids of DC was never fully appreciated during his life, thanks in part to his difficult personality, but still inspires cultish fascination in addition to his post mortem redemption.
Archstone files for initial IPO (Wall Street Journal) The apartment behemoth, which owns residential buildings nationwide - including a concentration in the Washington D.C area, files for up to $100 million in common stock to pay down debt.
Georgia Avenue Walmart construction to begin next month (Washington Post) The mega-retail store would be the second to start construction in the District, following 77 H Street, NW.
Donatelli to build new apartments at Minnesota-Benning (Washington Post) The developer of Columbia Heights makes plans for a northeast DC neighborhood that has failed to realize the promise of development.
The politics of the reemergence of U Street, a short history of redevelopment (The Atlantic) A thoughtful response to the Post's story on changing demographics on U and 14th Streets: not as black and white as you think.
Happy birthday Pierre - lauding the prickly genius of DC's designer (Huffington Post) The genius behind the grids of DC was never fully appreciated during his life, thanks in part to his difficult personality, but still inspires cultish fascination in addition to his post mortem redemption.
Georgia Avenue Walmart construction to begin next month (Washington Post) The mega-retail store would be the second to start construction in the District, following 77 H Street, NW.
Donatelli to build new apartments at Minnesota-Benning (Washington Post) The developer of Columbia Heights makes plans for a northeast DC neighborhood that has failed to realize the promise of development.
Jumat, 10 Agustus 2012
Morning Real Estate Review
Millers unveil plan for H Street Crowdsourcing (CityPaper) Sons of Herb Miller will sell shares in Maketto, the new H Street restaurant, for $100.
Mendelson calls for hearing on assessment scandal (Washington Post) The newly minted Council Chairman reacts mildly to the flap over lowered assessments, but says the Council should investigate the matter thoroughly, starting with hearings.
Mortgage delinquencies increase (Mortgage Bankers Assn) The latest MBA survey shows residential delinquencies increase to 7.58% of all outstanding loans in the second quarter, an 18 basis point rise over the first quarter of 2012.
Mortgage rates edge higher for 2nd straight week (Washington Post) The average 30-year fixed rate is now 3.59%, up slightly from its all time low.
Urban home prices rose in second quarter (HousingWire) According to an NAR survey, homes in 110 of 147 metropolitan areas rose in value during the 2nd quarter, due to tightening inventories.
Mendelson calls for hearing on assessment scandal (Washington Post) The newly minted Council Chairman reacts mildly to the flap over lowered assessments, but says the Council should investigate the matter thoroughly, starting with hearings.
Mortgage delinquencies increase (Mortgage Bankers Assn) The latest MBA survey shows residential delinquencies increase to 7.58% of all outstanding loans in the second quarter, an 18 basis point rise over the first quarter of 2012.
Mortgage rates edge higher for 2nd straight week (Washington Post) The average 30-year fixed rate is now 3.59%, up slightly from its all time low.
Urban home prices rose in second quarter (HousingWire) According to an NAR survey, homes in 110 of 147 metropolitan areas rose in value during the 2nd quarter, due to tightening inventories.
Kamis, 09 Agustus 2012
Morning Real Estate Review
Surfeit of new apartments could change Washington DC's rental market (Washington Post) With 6,000 new apartment units expected to open between now and the end of the year, experts say the glut could end rising rents in the District and possibly lead to something closer to a renter's market, though current buildings have high occupancy levels.
Apartment construction goes into expansion mode (Costar) Developers are delivering increasing numbers of new apartments as vacancy rates decline and rents rise in the uncertain economy where home buying is still not where a skeptical public wants to put its money.
Fannie Mae reports net income of $5.1 billion in 2nd quarter (Fannie Mae) The post-bailout company is benefiting from an improved housing market, going from $2.7 billion in income last quarter due to lower delinquency rates and improved home prices.
Norton to hold hearings on lack of construction jobs at DC projects (E. H. Norton) The Congresswoman issues statement of disappointment that contractors on federal jobs aren't hiring enough DC residents.
Threat of shadow inventory subsides and leads to price rises (HousingWire) A Freddie Mac report says that while vacant and unused properties still exist in large numbers, their presence is declining, causing a general rise in housing prices. In related info, the vacancy rate for rental properties has fallen to its lowest level since 2002.
Why the housing market is on the long road to recovery (CNBC) As foreclosures ebb, housing prices will shift upward, but only slightly. Despite the bright spot, a number of other factors, like high levels of underwater homes, will continue to weigh down the market.
Apartment construction goes into expansion mode (Costar) Developers are delivering increasing numbers of new apartments as vacancy rates decline and rents rise in the uncertain economy where home buying is still not where a skeptical public wants to put its money.
Fannie Mae reports net income of $5.1 billion in 2nd quarter (Fannie Mae) The post-bailout company is benefiting from an improved housing market, going from $2.7 billion in income last quarter due to lower delinquency rates and improved home prices.
Norton to hold hearings on lack of construction jobs at DC projects (E. H. Norton) The Congresswoman issues statement of disappointment that contractors on federal jobs aren't hiring enough DC residents.
Threat of shadow inventory subsides and leads to price rises (HousingWire) A Freddie Mac report says that while vacant and unused properties still exist in large numbers, their presence is declining, causing a general rise in housing prices. In related info, the vacancy rate for rental properties has fallen to its lowest level since 2002.
Why the housing market is on the long road to recovery (CNBC) As foreclosures ebb, housing prices will shift upward, but only slightly. Despite the bright spot, a number of other factors, like high levels of underwater homes, will continue to weigh down the market.
Senin, 06 Agustus 2012
Morning Real Estate Review
Regulator bars Fannie and Freddie from reducing principal on troubled mortgages (Washington Post) The Federal Housing Finance Agency and the Obama administration say the benefits of the program outweigh the risks, which include intentionally defaulting on mortgages - a position the Post endorses.
Washington Post wrong on principal deduction (Progressive Policy Institute) The Post's endorsement (see above) of the Administration's policy failed to consider the effects of the new policy, and will cost homeowners and the economy in added defaults.
Obama Administration says underwater mortgages now falling (HousingWire) Administration says underwater mortgages fell from 12.1m to 11.4m over the last quarter, a 5.8% improvement.
Saving Crystal City (Washington Post) Vornado Realty, owner of half the commercial real estate in Crystal City, is trying to project a new image of the concrete canyon one building at a time.
Washington Post wrong on principal deduction (Progressive Policy Institute) The Post's endorsement (see above) of the Administration's policy failed to consider the effects of the new policy, and will cost homeowners and the economy in added defaults.
Obama Administration says underwater mortgages now falling (HousingWire) Administration says underwater mortgages fell from 12.1m to 11.4m over the last quarter, a 5.8% improvement.
Saving Crystal City (Washington Post) Vornado Realty, owner of half the commercial real estate in Crystal City, is trying to project a new image of the concrete canyon one building at a time.
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