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Real Estate Briefing 29.Jun 2011

Posted on 29 June 2011 by Laxman |  Email |Print

David BlitzerHome prices decreased in the year ended April by the most in 17 months, showing the housing market remains an obstacle for the U.S. recovery.
The S&P/Case-Shiller index of property values in 20 cities fell 4 percent from April 2010, the biggest drop since November 2009, the group said today in New York. From March to April, prices fell 0.1 percent on a seasonally adjusted basis, the smallest decline since July 2010……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Robert ShillerRobert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller home-price index, talks about U.S. home prices, and the outlook for the housing market and the economy.
The Case-Shiller index of property values in 20 cities fell 4 percent from April 2010, the biggest drop since November 2009. Shiller speaks with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart.”………………………………………Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

It seems like good news. For the first time in eight months, the S&P Case/Shiller Home Price Index reported that home prices rose in 13 of 20 cities covered by the Index.
Before you start feeling all warm and fuzzy all over, or start counting your home equity dollars, it’s important to understand why the news isn’t really all that good. Take a peep below the hood at these findings………………………………………Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Robert Wetenhall, an analyst with RBC Capital Markets, talks about reasons behind the continued decline in U.S. home prices and outlook for the real estate market.
Wetenhall, speaking with Tom Keene on Bloomberg Television’s “Surveillance Midday,” also discusses investment strategy for housing-related stocks……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

The housing market will be mainly “bumping along the bottom” over the next year or so, but investors will be a key factor in the market’s recovery, Re/MAX International Chief Executive Margaret Kelly said.
The Case Shiller housing data released Tuesday showed home prices rising slightly for the first time in eight months. Kelly said her company’s data show a 3.8 percent rise in home sales over the last three months……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Why are so few people buying houses? One of the key reasons is falling prices. Although lower prices encourage true bargain hunters to look for deals, they can also scare off homebuyers. And, between the two, anxiety is winning.
This spring, home prices in major cities were back to the same levels reported in the summer of 2003. Although prices in several locations are beginning to rise again, even with the increases, housing remains the weakest part of the U.S. economy……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

How do I loathe home price day? Let me count the ways. The rash generalizations, the seasonal vs. non-seasonal adjustment confusion, the month-to-month vs. year-over-year, the contention among all the varied home price reports from the various and varied entities that track them.
I could go on, but if you are a regular Realty Check reader, you’ve heard all this before……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Housing construction is an important part of the US economy, constituting 5% of the total GDP. Thus, it is relatively important for this sector to remain stable for the whole economy to grow. Conversely, a sharp drop in housing starts may not necessarily translate into a recession, as long as the other industries continue to do well.
So far, housing indicators such as the housing starts and building permits have shown strength, while others such as housing prices and real estate loans made by banks, have stumbled……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

The commercial real estate apocalypse that industry analysts feared would hit banks has not yet happened. But that does not mean the problems associated with the segment have gone away, according to analysts.
Credit quality has started to improve for the commercial real estate sector and with housing market showing signs of a double-dip, there are still more renters than buyers. That augurs well for vacancy rates and cashflows in the commercial real estate segment……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Real estate chief executives showed investors the money in 2010 — and got paid for it. The CEOs running the nation’s real estate investment trusts were compensated well for the market’s nearly 30% returns in 2010 as their median compensation rose 13%, according to a new report from FTI Consulting.
The report noted that executive compensation was closely tied to performance, an issue that has increasingly drawn media and shareholder scrutiny……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Latest Land Registry figures show that house prices fell in every region of England and Wales except London in May, with the number of completed sales falling by 13%. Every region in England and Wales except London experienced falling house prices during the past year, with the average home losing 2.2% of its value, according to Land Registry figures.
It said house prices fell by 0.4% in May – the seventh month-on-month drop in nine months – taking the average house price in England and Wales to £161,823……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Since the start of the financial crisis many towns and cities in the UK have seen the property market fight to keep it’s head above water. With interest rates at an all-time low experts say this is the best time to buy. But the banks have tightened their criteria for lending and finance has become difficult to obtain.
However London is the one exception, The Capitals property market has surpassed expectations……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

German property firm Prime Office has put a stock market flotation back on the agenda with an issue price well below initial plans.
The company, which put its initial public offering (IPO) on hold last week due to volatile market conditions, set the issue price at 6.20 euros on Tuesday, compared with a previous range of 7.00 euros to 9.50 euros……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Even if you find the perfect property in Israel and you are set on buying it, you will need good negotiating skills to seal the deal. Once you have found the right real estate agent to suit your needs, they will help you with the offer process which can sometimes be tricky when you are not so familiar with the culture or the market.
Once you have established a relationship with a real estate agent in Israel and before you make an offer on a property, you should be asking the agent for referrals to an attorney and a mortgage professional if you need to obtain a mortgage………………………………………Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Jordanian finance minister Mohammad Abu Hammour has ruled out plans to extend the fee exemption granted to homebuyers, which expires at the end of this month, Jordan Times has reported.
The minister’s remarks came one day after Petra news agency quoted an unnamed source as saying that the government plans to extend the exemption decision until the end of the third quarter of this year……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

House prices in Dubai have turned a corner and are up a little over 2 per cent in six months, according to the results of a latest global house price survey.
The quarterly survey conducted by global property consultancy Knight Frank shows that house prices in Dubai inched up 0.6 per cent in the first quarter of 2011, and prices are up 2.1 per cent in the six months ended March 31, 2011……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Developers and analysts welcomed the Federal Cabinet decision on Tuesday to extend the visa period of property investors from six months to three years as a crucial move to restore investor confidence in the country’s real estate sector.
They said the long-awaited move will go a long way in reviving the moribund sector by luring more foreign and regional investors……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Builder track record: For a home under construction, you obviously want to choose a builder who does high quality work. But don’t equate extensive television and newspaper advertizing with a good reputation.
Instead, ask the developer about previous buildings they have completed and their track record on delivering on time. Ask a trusted real-estate broker or check on the internet to see if there have been complaints about the quality of previous projects and their completion……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

The office property space in China is heating up. Analysts said transaction volumes in the sector are up by a third from a year ago. Total transactions in the first quarter of 2011 amount to some US$4.8 billion, according to Savills.
It added that the lower pricing in the China office property sector compared to its regional counterparts are among the reasons for its attraction. With tightening measures taking a toll on the residential property sector in China, investors are putting more money in office space……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Since the non-news of the possible resumption of Home Ownership Scheme (HOS) emerged, the market atmosphere deteriorated significantly.
It was quite a surprise even to myself, who have been among the earlier ones who turned bearish. The reason I saw it as a non-news is that, first off, we don’t know anything about it……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

Singapore’s office property market appeared to have averted an overheating situation, with office rents in the second quarter this year maintaining at single-digit growth. According to the latest quarterly office property market research report by Colliers International, this comes amid the continued easing of occupancy rate.
Average monthly gross rents of Grade A office space in Singapore recorded the third consecutive quarter of moderation in quarter-on-quarter growth at six per cent……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

The property market in Taiwan is set to receive a boost as 38 free independent travelers (FITs) from China arrived in Taiwan Tuesday on a home-buying mission, a real estate developer said.
The Taichung-based Shining Building Business Co. said the visitors — 30 from Xiamen, 5 from Shanghai and 3 from Beijing — will look at its construction projects in Taipei and Taichung……………………………………….Full Article: Source

Posted on 29 June 2011 by Laxman |  Email |Print

In a recent market report, property services firm CBRE Viet Nam highlights the pain being felt in the Vietnamese economy, especially by real-estate developers and investors, as the State Bank of Viet Nam tries to combat inflation by limiting non-productive loans.
With demand falling short of supply, a proportion of developers and investors are beginning to experience cash flow issues, it says……………………………………….Full Article: Source

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