Real estate News 09/2013
Commercial real estate alphabet soup
Even the most experienced residential real estate investor can get mixed up by all the strange terminology in commercial real estate. Don't be caught off guard when someone talks about CAP rates or a DSCR. Use this article as a primer for some of the ... (Aug 31, 2013, Your Houston News)
REAL ESTATE DEEDS: Rock Isaland County
Adam J. and Mindy B. Swank to Lorena C. and Daniel Hammond, 2007 37th St., Rock Island, $116,500. Derek C. and Kelli J. Askam to Michael N. and Erin B. O'Brien, 410 W. 12th Ave., Milan, $120,000. Bruce M. and Carrie L. Allison to Joseph D. and Brooke ... (Aug 31, 2013, Quad City Times)
Greenwich real estate bidding wars return
Greenwich real estate agents have seen the return of buyers battling it out over their dream homes in the last few months, as properties on the entry-level rung of the town's real estate ladder have increasingly received multiple offers. "It was in the ... (Aug 31, 2013, Greenwich Time)
Sacramento's frenzied housing market becomes more settled
Lately, investors have been falling away as prices rise, according to real estate information service DataQuick. Cash buyers and absentee owners, who once dominated the market, declined as a percentage of all buyers from February through July, the San ... (Sep 1, 2013, Sacramento Bee)
Buyers beware
Tight supplies have made house hunting difficult for Carrie and Rich Garfield. The couple has Josh Reynolds for The Boston Globe Tight supplies have made house hunting difficult for Carrie and Rich Garfield. The couple has lost out in three bidding ... (Sep 1, 2013, Boston.com)
REAL ESTATE: What's your neighbor's house selling for?
.... * 335 Westline Court; from Jay Thomas Barbeau, Executor; to Kyle A. Fuller and Tricia C. Aldrich; $207,000. * 148 Rio Verde; from Cynthia J. Woertz; to Andrew Finley and Amy Finley; $116,000. * 100 Portland Ave.; from Ramon Jellison and Carol ... (Sep 1, 2013, Belleville News Democrat)
Spitzer family's prime real estate holding prime the pump for controller race
A portfolio of trophy real estate holdings in New York and Washington provided Eliot Spitzer refuge after he resigned as governor. It is also providing the resources for his return to politics. Spitzer's father, Bernard, spent 50 years quietly ... (Sep 1, 2013, New York Daily News)
Zillow's top economist looks at local market's coming year
The local real estate market is “stellar,” says Stan Humphries, chief economist of the real estate website Zillow.com. But do not expect this shooting star to continue lighting up the home value landscape as brightly in the coming months, he adds ... (Sep 1, 2013, Sarasota Herald-Tribune)
Gov. Cuomo warns of real estate scammers targeting renters
According to the release, real estate scammers are taking advantage of vulnerable consumers – particularly immigrants and other first-time residents – with false promises of securing rental apartments and illegally charging upfront fees, commissions ... (Sep 1, 2013, North Country Now)
Real estate transactions
$2,685,000 Durso Larry J Jr, Durso Lynda C to Wenthur Francis P, Wenthur Linda M, Lot 1032 Winding River, O.R. Book 02486 Page 7985, Aug. 21. $1,710,000 Casvak River Club LLC to JSNT Florida LLC, Rpoc Parcels Unit 5, O.R. Book 02487 Page 0273, ... (Sep 1, 2013, Bradenton Herald)
Health-care act could be good Rx for commercial real estate
The new law is turning health care into a growth sector that real estate investors cannot ignore, managers say. Starting next year, the law is expected to extend health-care services to 30 million to 50 million more people, greatly increasing demand ... (Sep 1, 2013, Pensions & Investments)
Appraisals become issue in Arizona's real estate investments
The $7.2 billion Arizona Public Safety Personnel Retirement System boosted its investment returns twice in two years by disregarding market-value real estate appraisals it commissioned and, instead, using higher hypothetical valuations from the firm ... (Sep 1, 2013, Pensions & Investments)
Real Estate Matters | Is lender at fault for missed rate lock?
I am in the middle of completing a refinance of my home and missed my rate lock due to an un-recorded deed. As soon as this was discovered, I extended my rate lock but my rate was now .75 percent higher. Shouldn't the lender who failed to provide the ... (Sep 2, 2013, Washington Post)
New Dept. Of State Rules Revise Titles For Real Estate Brokers
New rules from the Department of State have created a sort-of "name game" for real estate brokers. NY1's Jill Urban filed the following report. Even if they've earned their stripes, many brokers now won't be able to show them. The Department of State ... (Sep 2, 2013, NY1)
Star Real Estate: Kobe Bryant, Peter Facinelli, and Josh Altman's 'Million ...
Star Real Estate: Kobe Bryant, Peter Facinelli, and Josh Altman's 'Million ... (Sep 2, 2013, Extra)
South Jersey real estate transactions: Dominics Court property in Woolwich ... - The Bridgeton News
South Jersey real estate transactions: Dominics Court property in Woolwich ... (Sep 2, 2013, NJ.com)
Pinellas real estate transactions for Sept. 4
1350 Gulf Blvd. #502, to John F. Cervenka & Leslie M. Cervenka by William A. Roscop & Donna R. Roscop, $900,000, 08-22-2013. 1180 Gulf Blvd. #1505, to Richard J. Hoag & Carol A. Hoag by Sharen J. Fuller, $732,500, 08-21-2013. 2109 Meadow Brook ... (Sep 2, 2013, Tampabay.com (blog))
Real estate developer to challenge Plaugh for City Council seat
A Columbia real estate developer says he will challenge Columbia City Councilwoman Leona Plaugh in the Nov. 5 election. Todd Walter, who says he has developed apartment complexes and shopping centers throughout the Southeast, said in a news ... (Sep 2, 2013, The State)
Real-Estate Family Wars With Itself
When real-estate mogul Louis Feil was alive, his son and three daughters and their families would gather at the patriarch's Long Island home at this time every year to celebrate the Jewish holidays with food and good conversation. These days ... (Sep 2, 2013, Wall Street Journal)
Rising flood insurance rates could hurt real estate market
Should the existing law be implemented, local officials warn it could have disastrous effects on the slowly recovering real estate market and trickle down to area's tourism industry. “It has been the beaches that have led the resurgence of the market ... (Sep 2, 2013, Tbo.com)
Advent of seller's market seen for Staten Island real estate
"We've had over 20 showings and several offers very close to the asking price," said Ms. Romanelli, who is an empty-nester choosing to downsize at a time when Staten Island's real estate market is on the upswing. "We've gotten a lot of interest in a ... (Sep 3, 2013, SILive.com)
Succession Issues Plague Some Real-Estate Empires
The war that has broken out within New York's Feil family is the latest example of one of the city's real-estate dynasties coming undone by fights over money, power and property. New York was built by its real-estate families, many which got their ... (Sep 3, 2013, Wall Street Journal)
Real Estate > Best places health real estate wealth Best Places to Pursue ...
Real Estate > Best places health real estate wealth Best Places to Pursue ... (Sep 3, 2013, AOL Real Estate (blog))
Meet Bham's top 5 must-follow real estate execs
Derek Waltchack, a principal of real estate firm Shannon Waltchack LLC, has earned a spot on our list of top Birmingham executives to follow on Twitter. Ryan Poe: Reporter- Birmingham Business Journal: Email | Twitter | Google+. On Friday, the ... (Sep 3, 2013, Birmingham Business Journal)
Prudential Real Estate, with local office, ranks highest in JD Power and ...
Prudential Real Estate, with local office, ranks highest in JD Power and ... (Sep 3, 2013, Libertyville Review)
Norway Oil Minister Proposes Carving Out Real-Estate Fund From $750 Billion ...
Norway Oil Minister Proposes Carving Out Real-Estate Fund From $750 Billion ... (Sep 3, 2013, Wall Street Journal)
Real estate victims to recoup some losses
Victims of an alleged real estate scam involving residential developments in Onslow and Carteret counties will get some of their money back. N.C. Attorney General Roy Cooper announced Tuesday consumers who bought overvalued lots at Cannonsgate at ... (Sep 3, 2013, Jacksonville Daily News)
Hong Kong's Gaw Capital creates US real estate company
Chinese overseas real estate investment has been on the rise since 2007 and continues to grow, according to a study released also on Tuesday by real estate services company CBRE Group Inc . New regulations permit China's national insurance institutions ... (Sep 3, 2013, Reuters)
Chinese Insurers Have $14 Billion to Buy Overseas Real Estate
Chinese insurers could spend about $14.4 billion on overseas commercial real estate, aided by a stronger local currency and easier regulations amid a limited supply of prime properties at home, CBRE Group Inc. said. The insurers are seeking high ... (Sep 3, 2013, Bloomberg)
Cathie Anderson: Founders of California Family Fitness sell $100 million in ...
Cathie Anderson: Founders of California Family Fitness sell $100 million in ... (Sep 4, 2013, Sacramento Bee)
Mary Landrieu's Real Estate Ties Target Of 'Multi-Phase' GOP Offensive
WASHINGTON - The National Republican Senatorial Committee launched a new paid media campaign Wednesday targeting Democratic Sen. Mary Landrieu (La.), who has recently come under fire over a slew of real estate deals that her husband, realtor ... (Sep 4, 2013, Huffington Post)
Real-Estate Tycoon Gives $200 Million to University of Michigan
Stephen M. Ross, a self-described academically average transfer student who graduated from the University of Michigan, will become the school's biggest benefactor Wednesday with a gift of $200 million. The real-estate developer's gift, the single ... (Sep 4, 2013, Wall Street Journal)
Real estate groups move downtown
Two commercial real estate trade groups are moving their headquarters to downtown Milwaukee from Wauwatosa. Commercial Association of Realtors-Wisconsin and NAIOP-Wisconsin (previously known as the National Association of Industrial and Office ... (Sep 4, 2013, Milwaukee Journal Sentinel (blog))
Real Assets: A Perspective On Commodities, Real Estate And Currencies
Variously called non-traditional or alternative assets, real assets would include gold and other precious and base metals, industrial and agricultural commodities, non-REIT real estate assets, and non-equity energy assets. Equity and fixed income ... (Sep 4, 2013, Seeking Alpha)
TPG to Acquire Stake in Spanish Real-Estate Servicing Firm
MADRID—TPG Inc. is set to acquire a 51% stake in the real-estate servicing arm of Spanish financial institution La Caixa for €189 million ($249 million), marking the U.S. investment company's first foray into Spain's ailing property sector. According ... (Sep 4, 2013, Wall Street Journal)
Industry notes: Real estate transactions and awards
Georgia-Pacific Consumer Products renewed 402,450 square feet of industrial space at Rivergate Corporate Center, 14005 N. Lombard Ave., Portland, from MEPT Rivergate. Paul Breuer, Colliers International, represented the lessee; Steven Klein, Peter ... (Sep 4, 2013, OregonLive.com)
Authorities seek victims in real estate scam
Police are searching for potential victims of a purported real estate fraudster accused of scamming people out of as much as $200,000 by pretending to help them refinance or modify mortgages. George C. George, 54, offered to help victims purchase a ... (Sep 4, 2013, Las Vegas Sun)
Real Estate Red Alert: The Flippers Are Back
As housing analysts start to worry about the sustainability of the recent run-up in the real estate market, a troubling trend has returned, harking back to the days of the housing bubble: house flipping. In the first half of 2013, home flipping ... (Sep 4, 2013, The Fiscal Times)
Canada's Two Largest Real Estate Markets Surge in August
Home sales in Canada's two largest real estate markets continued their surge in August from a year earlier. Sales in Toronto, the largest market, rose 21 percent from August last year to 7,569 units, the Toronto Real Estate Board said in a statement ... (Sep 5, 2013, Bloomberg)
WHO'S NEWS; CBRE promotes Pat Arangio, Eastern Consolidated still hiring
Previously, he served as principal and senior vice president of Jernigan Property Group, LLC, where he oversaw real estate activities in a joint venture with Kimco Realty that acquired $70 million in self storage assets. He began his real estate career ... (Sep 5, 2013, Real Estate Weekly)
Google's Search to Expand Involves Real Estate
Google's Search to Expand Involves Real Estate. Google has invested $6 million in an affordable housing project in Mountain View, California. 01:40 | 09/05/2013. Share: Transcript for Google's Search to Expand Involves Real Estate. On the outside the ... (Sep 5, 2013, ABC News)
Real Estate Roundup: Transactions for Sept. 5
Cypress Point Ventures LLC paid $1.72 million for a 24,660-square-foot office property at EastRidge Business Park, 12606 N.E. 95th Ave., Vancouver. Josh Schwartz and Keith Young of Kidder Mathews represented the buyer; Rich Sabel of Norris & Stevens ... (Sep 5, 2013, Portland Business Journal (blog))
Dan Quayle Returns as 3-Headed Dog, Goes Into Real Estate
Early this morning, news broke here in Europe that an American hedge fund, Cerberus, named for the mythical tri-headed dog guarding hell's gate, intends to start buying up shaky real estate debt in Spain. To do so Cerberus is acquiring the real estate ... (Sep 5, 2013, Pacific Standard)
Real estate pros share the latest updates on Houston developments
... Commercial Development Inc.; Ryan McCord, president of McCord Development; and John Mooz, senior managing director at Hines, made bold statements regarding timeline and impact of their projects at the Commercial Real Estate Women luncheon on ... (Sep 5, 2013, Houston Business Journal (blog))
Movers & Shakers: Marin Realtors establish new real estate brokerage
LONGTIME Marin Realtors Jason Holmes and Arundel Burrell have established a new real estate brokerage in Marin, called Holmes Burrell Real Estate. Holmes Burrell Real Estate is a boutique firm representing buyers and sellers, ranging from first-time ... (Sep 5, 2013, Marin Independent Journal)
Real Estate Personnel On The Move: September 6, 2013
A summary of personnel moves, events, accomplishments and awards in Greater Boston's real estate community. The First Annual Codman Co. reunion is set for Wednesday, September 25. The event is open to all past employees of the firm and will take ... (Sep 5, 2013, Boston Business Journal)
Haunted Greeks Sell Real Estate EBay-Style to Evict Debt Specter
... review this month. With more than 70,000 properties ranging from a luxury beach resort on the Athenian coast to a disused car repair shop, real estate accounts for half of the 50 billion euros the government originally pledged to raise from selling ... (Sep 5, 2013, Bloomberg)
Hacking Victim Dotloop Takes On the Real Estate Establishment
On March 16 a hacker using the pseudonym Ian Dawtnapster broke into the computer systems of a national real estate firm and downloaded blank home-buying and -selling forms. The infiltrator did so by breaching an online document-sharing forum run for ... (Sep 5, 2013, Businessweek)
Lotus signs deal with Dubai real estate company
Lotus F1 Team has today announced that it has entered a new partnership with Dubai real estate company Emaar Properties as the team looks to ease the financial uncertainty at Enstone. Although the extent of the team's financial problems has not been ... (Sep 5, 2013, NBCSports.com)
Jerry Jones' real estate team for 20 years has scored in Collin County land ...
Jerry Jones' real estate team for 20 years has scored in Collin County land ... (Sep 5, 2013, Dallas Morning News)