Archive for September 2008
“CAPITAL INSIGHTS” with Jack Kern
Brother, Can You Spare A Dime… The unemployment numbers came out today and the magic number finally hit above 6 percent for the first time in about 5 years. Over 600,000 jobs have been lost since the start of this year, when subject to a lot of fanfare, pundits said the early part of…
Read MoreStarts To Date A Tad Below Expectations
Multifamily Starts: After the big boost reflecting the large number of starts in New York City last month, things have calmed down. Preliminary starts numbers for last month would give us a seasonally adjusted annual rate of 309,000 units for 2008 That’s a bit shy of the 325,000 level that NAHB’s forecast currently calls for,…
Read MoreBeantown Market Still Simmers
e index indicates that home prices in greater Boston peaked in September 2005 and have decreased 11.9 percent since. This peak was earlier than many other metros. For example, Las Vegas peaked in August 2006 and has declined 31.4 percent since its peak. The PMI Group predicts an 11.8 percent risk that the Boston single-family…
Read MoreMBA Lists Top Multifamily Loan Servicers for 2008 to Date
By Anuradha Kher, Online News EditorWashington, D.C.- Wachovia Securities, followed by Midland Loan Services/PNC Real Estate Finance and Capmark Financial Group Inc. are the top three commercial and multifamily loan servicers, according to a mid-year ranking report recently released by the Mortgage Bankers Association (MBA).As of the end of June 30, 2008, Wachovia Securities had…
Read MoreTODAY’S DEALS: Sterling American Property, Timberland Partners Acquire 440-Unit Rental Complex for over $20M, and Other Transactions
By Anuradha Kher, Online News EditorYpsilanti, Mich.–Sterling American Property Inc., in a joint venture with Timberland Partners, has purchased the Hunt Club (pictured), a 440-unit rental apartment complex located in Ypsilanti, Mich., for over $20 million. Sterling acquired the asset from the Denver, Colo.-based Apartment Investment and Management Company (AIMCO). “The Ypsilanti area continues to…
Read MoreSales Start for 12-Story Luxury Condo Project in Spanish Harlem
By Anuradha Kher, Online News EditorNew York–119th & Third, a luxury 12-story condominium tower on Third Avenue & 119th Street in New York City’s Spanish Harlem recently started its pre-construction sales. The 90-unit project is expected to be ready for occupancy by April 2009.“East Harlem is the last real estate frontier in New York,” David…
Read MoreFaulkner Design Group to Provide Interior Planning for Fort Worth Hotel Condos
By Erika Schnitzer, Associate EditorForth Worth, Texas–Faulkner Design Group, a Dallas-based interior and architectural design group, has been retained to provide interior design and planning for 1301 Throckmorton Omni Residences in Forth Worth, Texas.Developed by Omni Hotel/TRT Holdings, 1301 Throckmorton is an 89-unit, 18-story luxury condominium atop the 614-key Omni Fort Worth Hotel. “The condo…
Read MoreQ&A with Nicole L. Norton-Gozdz: Green Design Starts When You Meet Client, Continues with Residents
Nicole L. Norton-Gozdz, R.A. is the founder of Crossroads Architecture Inc. (CAI). She is the sole owner of CAI. Gozdz has a national certification in architecture and has experience with site planning and commercial development/redevelopment processes in municipalities across Florida as well as Georgia, Tennessee and Nevada. She is a member of the U.S. Green…
Read More“CAPITAL INSIGHTS” with Jack Kern
Now is the best time to – well, wait. You’ve probably seen the ads from the realtors talking about how now is a fabulous time to invest in real estate and it never rains on a real estate investment and gosh golly, buying a home is a great experience. Maybe they see something I don’t…
Read MoreCalif. Air Resources Board to Enact Toughest Product Standard for Formaldehyde Emissions
By Erika Schnitzer, Associate EditorSacramento, Calif.–On January 1, 2009, California will begin observing the strictest formaldehyde emission standards for composite wood products. At that time, an independent testing company must certify all composite wood panel products made for sale or use in California.The California Air Resources Board (CARB) rule covers particleboard, medium-density fiberboard and hardwood…
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