Archive for April 2008

Washington, D.C.–Fannie Mae and Freddie Mac’s regulator said that the agencies are still a “significant supervisory concern,” The Wall Street Journal reported Wednesday.The Office of Federal Housing Enterprise Oversight said in its annual report to Congress that although both mortgage-finance agencies helped offer liquidity and stability to the U.S. mortgage market in 2007, “matters requiring…

Washington, D.C.–U.S. homebuilder confidence remained at a record low in April due to declining home values and tighter lending, according to the National Association of Home Builders/Wells Fargo index of builder sentiment.The index remained at 20, Bloomberg said. In December, it plummeted to a new low of 18. A reading below 50 indicates the majority…

London–U.K. homebuilder stocks dropped after the London-based Royal Institution of Chartered Surveyors reported Tuesday that March home price declines rose their highest levels in 30 years, the Times Online reports.Persimmon fell 2.5 percent to 65; Taylor Wimpey, Bellway, Barratt Developments and Bovis Homes all declined more than 3 percent.A separate survey this week found retail…

Washington, D.C.–Housing starts fell to their lowest level in 17 years in March, the Commerce Department said Wednesday.U.S. homebuilder starts fell 11.9 percent to a seasonally adjusted annual rate of 947,000–the lowest housing start rate since 1991, according to MarketWatch. Compared to a year ago, starts fell 36.5 percent.Building permits also declined 5.8 percent to…

By Erika Schnitzer, Associate EditorNew York–A slowdown in household formation and additional condo completions will counter-balance stronger demand for apartments, according to Reis Inc.’s “First Quarter Apartment, Office and Retail Sector Trends.”According to Reis’ forecast, the slowing economy will continue to weaken household formation in the second and third quarters. Recent college graduates will have…

By Anuradha Kher, Online News EditorAustin, Texas– Chicago, Ill.-based Campus Acquisitions, a firm that focuses on student housing acquisitions, redevelopments and new construction, recently bought Sterling by the River, a 170-unit student housing property located in West Columbia, S.C. for $26 million.Built in 2007, Sterling by the River is comprised of 12 buildings totaling 472…

By Lisa Iannucci, Green Building CorrespondentLos Angeles–When environmentally conscious property managers or owners choose carpets over other flooring options in lobbies or common areas, they need to not only consider what the carpets are made of, but also how they are made. A Los Angeles-based commercial carpet manufacturer, Bentley Prince Street, has created a product…

By Anuradha Kher, Online News EditorBaltimore–The Professional Grounds Management Society (PGMS) has recently started its annual awards process to honor the nation’s top condominium, apartment complex, or planned community grounds management programs with its Green Star Awards.The Green Star Awards program brings national recognition to grounds maintained with a high degree of excellence. The program…

By Anuradha Kher, Online News EditorWashington, D.C.–In the Logan Circle neighborhood in Washington, D.C., where condo conversions have become increasingly common, the 2006 average median sales price for a home exceeded $570,000. But this neighborhood is also home to the historic R Street Apartments, a nearly century-old affordable housing complex, which was last renovated in…