Monthly ARCHIVES
December 2008
(TAMPA, FL) -- As the curtain rings down on 2008, apartment sales continue to shine in an otherwise lackluster real estate investment year.Byron Moger Cushman & Wakefield's Florida Apartment Brokerage Services in Tampa today closed the $6.7 million sale of... Read More
(KOLOA, Kauai, Hawaii) -- Construction has begun on the $100 million Kukui'ula Plantation House, the 20,000-square-foot clubhouse at Kauai's first private luxury golf resort community. Work on the Kukui'ula Plantation House and Plantation House Spa kicked off three months ago with traditional Hawaiian blessing festivities. Meanwhile, a Tom Weiskopf-designed golf course is well under construction at the 1,010-acre master-planned development. Read More
(ATLANTA, GA) -- Investors once again are proving multi-family product is what may stand up best in the current recession with the $22.7 million sale today of the 206-unit Post Lenox Park in Atlanta.The buyer was an entity formed by... Read More
(SANTA ANA, CA) -- Bob Bach, Senior Vice President, Chief Economist, Grubb & Ellis Co., wears no rose-tinted eyeglasses but still forecasts a market turnaround by the end of 2009.He cites these positive contributing factors: "Barely detectable interest rates, low... Read More
(NEW YORK, NY) -- Home prices in the U.S. are down for the 10th month in a row, according to a new S&P/Case-Shiller Home Price Indices analysis released today. Phoenix, Las Vegas, San Francisco, in that order, were hit the hardest compared with percentage changes in 2007. Dallas, Charlotte, Denver, Boston, Cleveland and New York, in that order, suffered lesser price drops over the past 12 months. Read More
(WATERBURY, CT) -- Apartments continue as the product of choice in national investment circles, according to a $10.6 million sale closed today by the New Haven, CT office of Marcus & Millichap Real Estate Investment Services.Steve Witten and Victor Nolletti,... Read More
Most marketers of travel services will gladly bid adieu to 2008. But the year ahead promises to be equally challenging, and prevailing market conditions suggest it will be a year of heightened competition. The good news is that the travel... Read More
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Kris Kardashian and her spouse, former Olympic decathlon champion Bruce Jenner, have listed their Hidden Hills home at just under $4 million.The one-story estate, on an acre of lush grounds, is where the E! network reality TV show "Keeping Up... Read More
(CORAL GABLES, FL) -- Philip F. Blumberg may not have a crystal ball on his desk but says he spotted the current commercial real estate price drops two years ago and yanked his Blumberg Capital Partners company off the playing... Read More
(DUBAI, UAE) -- When Dubai's stock exchange closed Thursday for the weekend, it was down to its lowest point since August 2004. Leading developers including Emaar, the biggest, contributed to the tumble that has been going on for several months.... Read More
Q1 - I'm a 28-year-old police officer from Queens and I'm looking for a two-family house with a basement in or around Astoria. I have not saved up for a house and I'm living pay check to pay check, but... Read More
(SANTA ANA, CA) -- Santa came early this year to the home of Grubb & Ellis Co.The Santa Ana, CA-based real estate services and investment firm participated in a total 693,000 square feet of transactions over the past 30 days.In... Read More
(News Source: Freddie Mac)McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.14 percent with an average 0.8 point for the week ending December... Read More
(ORLANDO, FL) -- For the third month in a row, Florida's existing home sales rose in November, with Florida Realtors® reporting a 4 percent increase in activity in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR)...In September and October, Florida Realtors reported higher statewide existing home and existing condo sales compared to the year-ago levels. Read More
(News Source: US Treasury)Washington, DC -- The U.S. Treasury Department announced today details of a $2.8 billion investment in 49 banks made on Friday, December 19 through its Capital Purchase Program. Treasury also closed $1.9 billion in transactions with 43... Read More
(DUBAI, UAE) -- As experts question where Dubai's real estate market is going, the CEO of Nakheel, one of the biggest and flashiest developers in the emirate, tried to calm fears at a meeting with reporters today. Chris O'Donnell said that Nakheel has no problem funding current projects but will not start new ones because the company has not made sales in the past two months. Read More
(News Source: National Association of Home Builders)WASHINGTON, DC -- Sales of newly built single-family homes declined 2.9 percent in November to a seasonally adjusted annual rate of 407,000 units, the U.S. Commerce Department reported today. This was the slowest sales... Read More
(WASHINGTON, DC) -- Existing-home sales weakened against a backdrop of an eroding economy, according to the National Association of Realtors®.Existing-home sales -- including single-family, townhomes, condominiums and co-ops - fell 8.6 percent to a seasonally adjusted annual rate of 4.49... Read More
(CHICAGO, IL) -- Three of the best-known shopping centers in the U.S. are up for sale today, the first time trophy retail products of this stature have been offered publicly instead of privately, according to persons in a position to... Read More
(KANSAS CITY, MO) -- Banks around the country are preparing fresh spreadsheets on a new wave of mortgage defaults and a lot of loans will be coming due in 2009 with the properties now assessed lower than the loan value, according to the hotel industry professionals themselves. Read More
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