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Real Estate Briefing 13.Apr 2012

Posted on 13 April 2012 by Laxman |  Email |Print

The relentless decline in home prices is nearing an end and prices should rise for the first time in seven years in 2013, but a possible new wave of foreclosures could threaten the recovery, according a Reuters poll of economists.
The median forecast of 24 economists polled by Reuters was for the S&P/Case-Shiller 20-city home price index to end the year unchanged. That was the same finding back in January for this house price gauge, which covers 20 cities………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Buying a home is not a decision to be taken lightly. Personal finance gurus warn against purchasing unless you plan to keep it for a minimum of five years and, since the housing bubble burst, many say it’s best to buy only if it fits your lifestyle – not your investing portfolio.
For first-time home buyers shopping for a permanent, full-time residence, it’s advice to heed. But say you do simply want a place to park some of your hard-earned money, perhaps a fixer-upper you could occupy for a few years or maybe a house you believe you could rent out right away and easily oversee?……………………………………….Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Bidding wars, absent from most parts of the U.S. residential market since 2006, are making a comeback, from Seattle and Silicon Valley to Miami and Washington, D.C. Nationwide, the inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability tempt buyers.
The number of contracts to buy previously owned homes jumped 14 percent in February from a year earlier, the National Association of Realtors reported on March 26………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

When the housing bubble burst in 2008, home values plummeted, the time it takes to buy and sell property has increased dramatically, and plenty of homes end up in foreclosure before the owners’ have a chance to find a buyer.
According to some experts, the traditional form of real estate might be more of a hindrance than a help in today’s market. There are tons of homes available, and buyers with decent price ranges are overwhelmed by their choices. Sellers get multiple showings, host numerous open-houses, and may even try more than one real estate agent, all to no avail………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

The weak housing market is weighing on the economy’s unusually slow recovery, Federal Reserve Gov. Sarah Bloom Raskin said in remarks prepared for a speech on Thursday.
While some recent data have shown the pace of the economic recovery could be picking up, “the national economic recovery clearly has a long way to go,” Raskin said in a speech prepared for business and community leaders at the San Francisco Fed’s Los Angeles branch………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

A $7.6 billion Obama administration program that targets areas especially suffering from the housing crisis is falling short, with the government spending only about 3% of money set aside for “underwater” mortgage borrowers and other problems, a watchdog report said.
The report released Thursday by the special inspector general for the 2008 financial system rescue criticized the administration’s “Hardest Hit” program, which President Barack Obama announced in February 2010………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Is 2012 the year of the housing recovery? Well, according to a series of regional events that recently attracted nearly 20,000 RE/MAX agents, a single audience of over 4,000 from more than 50 countries around the world, the answer is yes.
Although not sure I completely am buying it, I am not real estate agent in the trenches getting more commission this year, and I am not the analyst with the numbers to back the claim. But I do appreciate the positive attitudes and eagerness from the residential community………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Canada’s finance minister sees signs of cooling in Canada’s housing market, and that’s fine by him. Economists and market watchers have been arguing for two years about whether the Canadian housing market, which has been among the hottest in the world coming out of the recession.
But spring data shows sales in most centres have slowed considerably from the same time last year, and price gains appear to be moderating………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

A major international bank said today that Canada’s best hope to avoid a real estate crash would be for policymakers to raise interest rates by half a per cent over the medium term.
“We believe that the best way to engineer a soft landing in the housing sector would be for the Bank of Canada to increase its policy rates slightly,” says the report, from international financial conglomerate Nomura’s contributing economist, Charles St-Arnaud………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Offices claimed the lion’s share of real estate investment in Europe during the first quarter of 2012, while retail - for some time the most popular target - dropped to third place behind residential property.
The office sector acciybted fir EUR 7.6 bn, or 43% of the total volume of EUR 17.2 bn tracked in the first three months of the year, according to preliminary data compiled by PropertyEU Research………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

A U.K. commercial property- development index rose to the highest in more than two years in March as construction companies bet that Britain will avoid its second recession in four years, Savills Plc (SVS) said.
The Total Commercial Development Activity Index, a measure of the country’s commercial-property industry, rose to 13.1 percent from a negative 3.6 percent in February……………………………………….Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

The British housing market has suffered a very unsatisfying sort of crash. Depending on which set of data you use, house prices for Britain as a whole are down by around 10-20% on the peak in 2007.
But a lot depends on where you live. Certain parts of London are now more expensive than they were back then. And other parts of Britain are significantly cheaper………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

IPD lease length analysis shows that signing a new five-year lease leads to a fall in value of around -1.8%, despite the property being let.
In addition, properties with short lease tenants (under five years) have seen considerably less growth year on year than those on longer leases, as investors look for assets with secure, long-term – or ‘prime’ – tenants………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Standard & Poor’s Ratings Services estimates French house prices could fall by up to 15% by the end of 2013, according to a report published today titled “Tighter Borrowing Capacity Is About to End The Uncommon Rise in French Housing Prices.”
For about five years now, the French residential real estate market has been going its own way–up………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Property transactions in the Middle East and North Africa region staged a strong recovery in 2011 with a 20 per cent jump to hit $166 billion from $138 billion in 2010, a leading real estate investment and advisory firm said.
But the surge in property deals in the Mena region pales in comparison with the 30.5 per cent growth a resilient property market witnessed across the globe, most notably in the Americas, Jones Lang LaSalle, or JLL, said………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

Developers and other real estate investors need to slow down their housing projects to balance the market after supply sharply exceeded demand in some areas, Dubai’s deputy ruler was reported on Wednesday as saying.
Sheikh Hamdan bin Rashid Al Maktoum, the UAE’s Minister of Finance, said the real estate sector in the UAE had been hit by the 2008 global fiscal crisis and a surge in supply in the outskirts in such key cities as Dubai and Abu Dhabi………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

China’s property tightening measures aren’t overdone Mr Ardo Hansson, lead economist at the World Bank’s Beijing office, said even as state media reported Chinese banks offering mortgage discounts to new buyers.
Hansson also said the “tide has turned” in the once red-hot real estate market. “The very important property sector has finally begun to turn. It took so much effort to even get to the point of stabilising prices,” he said, adding that so far there had not been a sharp decline in property prices………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

The adjustment in property markets is welcome, but given the significance of the sector in the overall economy, continued vigilance will be required to contain negative spillover effects.
That’s from the World Bank’s new China quarterly report, which downgrades 2012 GDP growth to 8.2 per cent from 8.4 per cent. Some of those spillover effects would have already been felt by Hangzhou Glory Real Estate, perhaps one of the first Chinese property developers to be seeking bankruptcy protection………………………………………..Full Article: Source

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Posted on 13 April 2012 by Laxman |  Email |Print

China’s biggest property developers are pooling money for a real estate fund of funds to seek investment opportunities, according to Noah Holdings.
Evergrande Real Estate Group and Guangzhou R&F Properties are among developers that “expressed a strong interest” in investing in TOP50, a fund of funds being set up by Noah, a New York-listed provider of wealth management services, and E-House (China) Holdings, according to an emailed statement from Noah yesterday. It did not specify the size of the fund………………………………………..Full Article: Source

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