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Real Estate Briefing 15.Mar 2012

Posted on 15 March 2012 by Laxman |  Email |Print

ApartmentsProperty taxes are based on the value of one’s home. But as the real estate market collapsed and owners watched in horror as home values dropped by one-third, or perhaps half, their property taxes probably didn’t budge.
Through the Great Recession and years of a stagnant market that followed, it’s more likely that your property taxes have kept creeping upward. Finally, though, five years after the market first began to stumble, property taxes seem to be declining in parts of the country………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

The damning evidence is in on two fronts: Housing continues to collapse to unimaginable levels. — The latest numbers are in from December, showing that home prices fell in 18 of 20 markets. The statistics prove this housing collapse is now worse than the Great Depression.
Also, just days ago, a J.P. Morgan economist presented a paper at a monetary conference in New York proving that housing was at the center of America’s economic collapse………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

The housing market the U.S. is showing some signs of recovery and if the trend continues, investors will be looking for opportunities.
“The housing market is showing some evidence of stabilization and even improvement in the U.S.,” said Dan Kelley, the portfolio manager of the Fidelity Trend fund. “And with a reduction in inventory and an appreciation of rental rates across many markets, investors are taking another look and recognizing the value proposition the sector can provide.”……………………………………….Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

More housing markets are still seeing price weakness than price strength, though parts of recession-hit states like California and Florida are showing some signs of improvement, mortgage insurer United Guaranty Corp said on Wednesday.
In total, nationwide 170 markets are considered stable but 214 are in some stage of decline………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

A new national survey is showing that Americans are significantly more optimistic about homeownership than they were a year ago. According to the second-annual Prudential Real Estate Outlook Survey, a full 60 percent of Americans have favorable views toward the real estate market. That’s up 8 points since last year.
The survey shows that signs of increasing optimism are widespread:With interest rates at historically low levels, 96 percent agree or somewhat agree that now is a good time to buy. A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year. (Press Release)

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Posted on 15 March 2012 by Laxman |  Email |Print

For the first time in 18 months, home prices in February rose higher. With a median price of $171,881, prices in the 53 cities surveyed by the RE/MAX National Housing Report rose by 1.1% over February 2011. Home sales were even higher, up 8.7% from one year ago. With a positive sales trend of 8 straight months above the previous year, it’s looking like 2012 will witness a very strong home-selling season.
As a result of reduced foreclosure activity, inventory continued a downward trend for the 20th straight month, 22.4% lower than the housing inventory in February 2011. Consumer sentiment appears to be rising, and record low mortgage rates coupled with favorable home prices are attracting homebuyers and investors who don’t want to miss a historic opportunity. (Press Release)

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Posted on 15 March 2012 by Laxman |  Email |Print

The battered real estate market has another side effect that often goes overlooked, consumer finance and tax experts say: Millions of homeowners are unknowingly paying too much property tax.
According to the National Taxpayers Union, about 30 percent of properties in the U.S. are assessed at higher values than they are really worth. That means their owners pay inflated property tax bills while other taxpayers in their towns reap the benefits………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

US private equity giant Blackstone has raised more than $9 bn (EUR 6.9 bn) to date for its latest global fund, Blackstone Real Estate Partners VII, the follow-up fund to BREP VI, a source familiar with the raising has told PropertyEU.
This puts the private equity group on track to hit the fund’s target size of $10 bn. Blackstone Real Estate Partners VII will invest predominantly in the US and Asia, including opportunistic investments such as distressed debt………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Rising home prices over the past decade, combined with mounting household debts, have fed concerns that Canada’s housing market has formed a bubble that’s about to burst.
“We call it a tug of war,” said Sonya Gulati, economist in regional economies, housing and government finance at TD Economics, an affiliate of Toronto-Dominion Bank. “Low interest rates make people want to participate in the housing market, but with modest growth, not strong job creation, we can see a negative repercussion on the horizon.”……………………………………….Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

As mortgage rates plummet to historic lows, some consumers may be wondering what’s waiting for them in the usually frantic spring housing market. “March through June is prime time in the real estate and mortgage markets,” Robert McLister, editor of Canadian Mortgage Trends said.
McLister said headline-making interest rates are encouraging some to buy early, but those numbers are not huge, at least at this point………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Investors in Europe are showing a clear shift in sentiment in favour of industrial and logistics property in 2012, according to research by property adviser CBRE.
CBRE’s latest ‘Real Estate Investor Intentions’ survey’, completed by more than 340 leading property investors, reveals that 20% of investors said industrial and logistics is the most attractive sector for purchases in 2012 compared to 13% in 2011………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

U.K. commercial real estate values fell for the fourth straight month in February on concern that Britain’s economy was slipping into recession for the second time in three years, Investment Property Databank Ltd. said.
The average value of stores, offices and warehouses declined 0.3 percent last month from January, IPD said in a statement today. Retail properties led the drop, declining 0.4 percent. Total return, which combines the change in property values and rental income, rose 0.3 percent from a month ago………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Some estate agents like to advertise property discounts to lure punters in, others think they put off would-be buyers. Where do you stand? When it comes to shopping I love a reduced sticker – it’s always good to think you’re getting a bargain. But I’m not quite sure how I feel when it comes to houses.
In Hartlepool recently I walked past an estate agent whose window display was littered with “reduced” labels – homeowners appeared to be regularly lopping £20,000 or so off the asking price for their home………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Those looking to invest in German property have been advised that Bremerhaven and Leipzig are both good bets to see strong returns by ProVenture Property.
Partner at ProVenture Mat Littlecott has suggested that the two locations represent strong bases for investment, as opposed to Berlin which he describes as “overpriced”………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Dutch cities are being overtaken by their European rivals in countries such as Poland and Spain when it comes to attracting foreign businesses and skilled workers, according to Greg Clark, senior fellow of ULI Europe. ‘Dutch cities are bumping down the global rankings and if they do nothing, they will move further down,’ the regional expert warned.
One of the key problems facing the Netherlands, which faces the highest office vacancy rates in Europe, is that it is ‘old, slow and over-governed,’ Clark said………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

The Turkish property market currently stands on the edge of the biggest change since the Turkish government allowed foreign buyers, with some restrictions, to enter the market in 2002.
In 2005, many of these restrictions were lifted, allowing foreign homebuyers the freedom to purchase property almost anywhere in Turkey, the exception including municipalities with fewer than 2,000 inhabitants (Article 87 of the Villages Act) and military zones………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

If anxious Beijing homeowners and property developers were looking for signs the city’s housing market would soon reopen, they must have been sadly disappointed by Premier Wen Jiabao’s last address to the press this morning.
For just over a year, most major Chinese cities, including Beijing, have held tight rein over who is allowed to buy property and how often, an effort to crack down on speculators who had sent prices skyrocketing………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Chinese Premier Wen Jiabao said that home prices remain far from a reasonable level and relaxing curbs could cause “chaos” in the market, indicating no imminent relaxation of cooling measures.
“We must not slacken our efforts in regulating the housing sector,” Wen said at a press conference in Beijing today, according to an English translation. A bursting property bubble would hurt the entire economy, and the government wants “long- term steady and sound growth” in housing, he said………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Singaporean developers are acting more and more gingerly in how much money they are willing to invest in private home sites. According to a research report, private home prices could be expected to decline a total of eight per cent this year.
Hence, developers have to factor the lowering of prices for their homes into their sums when deciding on a how much to put up on a purchasable plot. The BNP Paribas released a research report that showed an estimated 100 government land sale bids between 2007 until last month………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

A new study shows that about 30 per cent of HDB households in Punggol have a monthly income of S$9,000 or more. This is four percentage points higher than the national average compared with other HDB estates.
And property developers believe this shows Punggol has potential for private residential development. Pasir Ris has the highest number with 35 per cent of HDB households with monthly incomes above S$9,000………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

Home owners seeking to make a buck from their residential property won’t find 2012 a good year to sell as values are expected to remain flat, real estate analyst company RP Data says.
This follows falls of about four per cent in 2011. “We don’t believe house prices will be going up this year,” RP Data senior research analyst Cameron Kusher told a mortgage conference in Sydney on Wednesday………………………………………..Full Article: Source

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Posted on 15 March 2012 by Laxman |  Email |Print

According to global commercial real estate firm Cushman & Wakefield’s latest MarketView report, 2012 will be a reverse image of 2011, and a tale of two halves for the global economy and the world’s commercial real estate markets will emerge.
While there was a healthy start for 2011, rising uncertainty surrounding the resolution of sovereign debt issues in Europe and the U.S. led to a slowdown in the economy and commercial real estate activity in the second half of the year. The exact opposite performance is expected for 2012, with a sluggish beginning giving way to improvements in the latter half of the year………………………………………..Full Article: Source

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