Daily Real Estate News
November 30, 2009
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Wealthy Investors Are Eyeing Real Estate
The wealthier the investor, the more money they plan to put in real estate compared to the amount they have earmarked for stocks and bonds, according to Barclays Plc global survey. Investors believe real estate will yield better returns.
Twice as many people with more than $800,000 to invest plan to increase their investment in commercial and residential property compared to those who plan to reduce it, Barclay’s study reported.
Overall, investment in real estate among wealthy individuals is set to rise to 30 percent of the average portfolio from 28 percent now, according to the survey. That excludes properties used as a principal residence.
Source: Bloomberg, Peter Woodifield (11/30/2009
Monday, November 30, 2009
Thursday, November 19, 2009
Market Should Be "Near Normal" in the Spring
Market Should Be "Near Normal" in the Spring
Housing industry consultant John Burns says low mortgage rates and the home buyer tax credit, plus the availability of FHA loans – “the new subprime,” as he calls it – will combine to keep housing transaction levels at “near normal” through Spring 2010.
First-time homebuyers are about the half the market, he says, while the expansion of the housing tax credit will get senior buyers “off the fence” and buying retirement properties.
What would have happened if Congress hadn’t extended the tax credit? “I think we would see housing crater,” Burns said. Burns clients include home builders, lenders, and equity invrstors.
Source: the Wall Street Journal, Nick Timiraos (11/18/2009)
Housing industry consultant John Burns says low mortgage rates and the home buyer tax credit, plus the availability of FHA loans – “the new subprime,” as he calls it – will combine to keep housing transaction levels at “near normal” through Spring 2010.
First-time homebuyers are about the half the market, he says, while the expansion of the housing tax credit will get senior buyers “off the fence” and buying retirement properties.
What would have happened if Congress hadn’t extended the tax credit? “I think we would see housing crater,” Burns said. Burns clients include home builders, lenders, and equity invrstors.
Source: the Wall Street Journal, Nick Timiraos (11/18/2009)
Friday, November 13, 2009
Khloe Kardashian & Laker's Star Lamar Odom Honeymoon at Montage
Khloe Kardashian & Laker's star Lamar Odom stayed at the Montage Resort. Khloe commented that "its probably my favorite hotel...It is just stunning. We ended up walking all around, and right nearby are a bunch of these cute little boutiques. They even had this great candy shop--a wall-to-wall sweats factory almost. And you know how Lamar loves candy." (LATimes, November 13, 2009)
Wednesday, November 11, 2009
Five Diamonds for Montage Resort
AAA has awarded Laguna's Montage Resort their highest five-diamond rating for 2009
Tuesday, November 10, 2009
Pending Sales Rose for the Eight Consecutive Month
Daily Real Estate News, National Association of Realtors
November 13, 2009
Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8. Lawrence Yun, NAR chief economist, said the momentum is understandable. “What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”
November 13, 2009
Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8. Lawrence Yun, NAR chief economist, said the momentum is understandable. “What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”
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