Archive for April 2008
Architecture Trends That Help Condo Developers Thrive In a Down Market
By Steve Mandic, Rothenberg Sawasy Architects (RSA)Los Angeles–In today’s competitive housing market, architects are quickly learning new concepts to help buyers. We’ve identified four trends that are increasingly being adopted by our developer clients.1. Create live/work appeal.According to RSA Design principal Mitchell Sawasy, the live/work concept continues to be a growing trend. With more and…
Read MoreK/BIS Showcases Environmentally Friendly Products
By Teresa O’Dea Hein, Managing EditorChicago—While the Windy City lived up to its nickname outside of McCormick Place late last week, once the 40,000-plus attendees at the 2008 Kitchen/Bath Industry Show & Conference (K/BIS) entered the three large exhibition halls, they were enveloped by a buzz of energy and inspiration. The environment was much livelier…
Read MoreSlowdown in Global Housing Markets Not Likely to Affect Multifamily
By Anuradha Kher, Online News EditorWashington, D.C.–Fundamentals of the multifamily market in many parts of the U.S. are strong and will continue to be so even as home prices fall around the world, according to Jeffrey W. Baker, senior managing director at Savills Granite, a real estate investment banking firm based in New York.The U.S.…
Read MoreVacant Homes Flame Fears of Neighborhood Fires
In Brockton, Mass.–and in other U.S. areas experiencing foreclosures–vacant homes have caused another concern: Foreclosure fires. Vacant homes already have been blamed for inviting crime to many neighborhoods. According to a report by the Georgia Institute of Technology and Geoff Smith of Woodstock Institute, a one percentage point increase in the foreclosure rate brings neighborhood…
Read MoreMich. Condo Auction Expected to Shorten Marketing Period from Years to 8-10 Weeks
By Erika Schnitzer, Associate EditorNew Buffalo, Mich.–Inland Real Estate Auctions Inc., an Oak Brook, Ill.-based auction firm, will auction 20 luxury lake view resort condominiums at Light Harbor Preserve. The condos, originally ranging in price from the low $500,000s to $800,000, will be offered and sold regardless of price. The auction is scheduled for June…
Read MoreDEAL OF THE DAY: Napa Valley Rental Community Sold for $10.41M
By Anuradha Kher, Online News EditorNapa, Calif.–Sperry Van Ness has recently completed the sale of Plaza Del Sol Apartments, a 70-unit apartment community in Napa, Calif., to Seattle-based Trinity Real Estate for $10.41 million. The property is located near Highway 29 on 713 Trancas St.According to the Sperry Van Ness sales team, the sale of…
Read MoreHousing Help Bill Clears Senate
Washington, D.C.—The Senate approved the bipartisan tax bill on Thursday, designed to help businesses and homeowners troubled by the housing slump, ABC News reports.Passed by an 84-12 vote, some supporters said the bill is geared too much toward homebuilders. The proposal includes large homebuilder tax breaks, a $7,000 tax credit for buying foreclosed properties and…
Read MoreCouple Loses Landmark Case Against Real Estate Agent
Vista, Calif.–A couple who sued their real estate agent for fraud and negligence lost their case in Vista, Calif. on Thursday, the New York Times reports.Marty and Vernon Ummel’s case–in which the couple accused their ReMax agent, Mike Little, of being so anxious to close the deal that he neglected to tell them other homes…
Read MoreConsumer Confidence in the U.S. Hits Lowest Level in More than 25 Years
Ann Arbor, Mich.—U.S. consumer sentiment is at it worst level in 26 years, according to the Ann Arbor, Mich.-based University of Michigan’s index of confidence.The index dropped from 69.5 in March to 63.2 in April due to recession concern, BBC News reported Friday. The reading was far worse than analysts had expected.The April figure is…
Read MoreHope Now Figures Call Program’s Effectiveness Into Question
New York—The Hope Now coalition says lenders have helped almost 1.2 million troubled homeowners—but it’s still not clear how successful Hope Now’s plan has been in helping people keep their homes, CNNMoney.com reports. Numbers released Thursday by Hope Now—which indicate the total number of workouts from July 2007 through the end of February—also show that…
Read More