According to RealtyTrac's 2012 Year-End Metropolitan Foreclosure Market Report, foreclosure activity increased from 2011 in 120 (57 percent) out of the nation's 212 metropolitan statistical areas with a population of 200,000 or more. Foreclosure activity during the year decreased from 2010 -- when foreclosures peaked in most markets -- in 181 out of the 212 markets tracked in the report (85 percent).
According to the National Council of Real Estate Investment Fiduciaries (NCREIF), whose membership contributes data to the NCREIF Property Index (NPI), commercial real estate continued its slow, steady recovery in the fourth quarter of 2012. The NPI is based on approximately $320 billion worth of institutional commercial real estate investments.
According to Zillow this week, 30-year fixed rate mortgages in the US are currently at 3.42 percent, up 14 basis points from 3.28 percent at this same time last week. After jumping to 3.45 percent on Friday, the 30-year fixed rate stayed flat over the remainder of the weekend before dropping to the current rate this morning.
The world is beating a path to Palm Beach County's door, at least the world of hedge funds. This is according to Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County, Florida.
According to the latest S&P/Case-Shiller Home Price Index, U.S. home prices rose 4.5% for the 10-City Composite and 5.5% for the 20-City Composite in the 12 months ending in November 2012. In the 12 months ended in November, prices rose in 19 of the 20 cities and fell in New York. In 19 cities prices rose faster in the 12 months to November than in the 12 months to October; Cleveland prices rose at the same pace in both time periods.
Last week, Starwood Property Trust (STWD) and Starwood Capital Group announced that they would acquire, on behalf of Starwood Distressed Opportunity Fund IX, LNR Property, LLC for $1.05 billion. At the time, company executives said that it was "a transformative and highly strategic acquisition... (that) would diversify Starwood Property Trust's revenue sources (and) add significant scale to our operating platform and dramatically expands our proprietary origination capabilities."
According to STR, the U.S. hotel industry reported increases in all three key performance metrics for fourth quarter 2012 in year-over-year measurements. The industry's occupancy increased 2.4 percent to 56.6 percent, average daily rate rose 4.0 percent to US$106.54 and revenue per available room was up 6.5 percent to US$60.34.
According to the National Association of Realtors (NAR), pending home sales declined in December but have stayed above year-ago levels for 20 consecutive months. The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 4.3 percent to 101.7 in December from 106.3 in November but is 6.9 percent higher than December 2011 when it was 95.1. The data reflect contracts but not closings.
According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in December 2012 were at a seasonally adjusted annual rate of 369,000.
The Lake District is the Eternal England. It's the England of tiny villages that haven't changed in a thousand years. Of green mountains and clear-blue waters and emerald meadows dotted with sheep. Of 2,000-year-old Roman ramparts.
According to STR Global, the Middle East/Africa region reported mostly mixed performance results in 2012 when reported in U.S. dollars. In 2012, the region reported a 6.1-percent increase in occupancy to 60.3 percent, a 0.5-percent decrease in average daily rate to US$161.64 and a 5.6-percent increase in revenue per available room to US$97.54.
Q1 - When an offer is made to a seller in a co-op building, is it necessary at that time to provide the seller's broker with financial information? Twice after I provided a rather detailed financial statement upon my broker's request, the seller then came back and raised the price 10%. My broker assured me that my financials met the criteria for the building and, in both cases, I met what the seller asked for or what the broker told me the seller would take. I believe the disclosure has been a disadvantage to me, and that after the sellers have seen my financials, they have been led to believe I would offer more.
According to STR Global, the European hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for 2012.
Each year on June 24th, Cusco, Peru - already an ancient city - transforms itself into the Inca capital that it once was. The Inti Raymi festival is an authentic re-enactment of a sacred Inca solstice celebration...so authentic, in fact, that you just might find yourself standing in the presence of an Inca Emperor.
According to STR Global, the Asia-Pacific hotel region experienced positive results in the three key performance metrics in 2012 when reported in U.S. dollars. In 2012, the Asia-Pacific region's occupancy ended the year virtually flat with a 0.5-percent increase to 68.3 percent, its average daily rate increased 0.9 percent to US$129.26 and its revenue per available room was up 1.4 percent to US$88.25.
According to Lender Processing Services' (LPS) "first look at December 2012 report", the U.S. housing market enjoyed a decline in overall foreclosures, but experienced a slight increase in delinquency rates.
According to STR Global, the Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for 2012. In 2012, the Americas region reported a 2.4-percent increase in occupancy to 61.5 percent, a 3.8-percent gain in average daily rate to US$108.53 and a 6.3-percent jump in revenue per available room to US$66.77.
According to home building industry experts at the National Association of Home Builders (NAHB) International Builders' Show in Las Vegas this week, the segment of the housing industry that caters to those home buyers and renters who are 55+ years old will continue to improve in 2013. This trend is expected to continue as the share of U.S. households age 55+ will increase significantly through 2020.
A survey of commercial mortgage investment performance within the insurance sector in the first two quarters of 2012 shows evidence of improvement. According to the CRE Finance Council (CREFC) and Trepp, LLC, which conducted the survey and announced the results on Tuesday of this week, total realized losses from the commercial mortgage holdings of participating companies went down to only 5 basis points, with no companies reporting realized losses greater than 1%.
According to the American Institute of Architects (AIA), business conditions at architecture firms continue to improve. To validate their point, today the American Institute of Architects (AIA) reports the December ABI score was 52.0, down from the mark of 53.2 in November.