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Tag Archives: Real Estate Investment

Survey: Local Real Estate Markets Heating Up With Investors

Local reports indicate investors have been snapping up more foreclosure and REO homes in recent months, and a new industry survey suggests they are poised to become an even bigger presence. According to Move, Inc., real estate investors will be more active in their local markets by a three-to-one margin compared to typical homebuyers over the next 24 months. The company says today's investor doesn't fit the common stereotype. Fifty percent plan to hold their properties for five-plus years, and three-fourths plan to combine cash and credit for a buy.

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Distressed Deals Push Commercial Real Estate Prices to New Cycle Low

Prices on U.S. commercial real estate fell 4.2 percent in March, according to a national index released by Moody's Investors Service this week. The latest drop brings the index down to its lowest level since its peak in October 2007. A high volume of distressed transactions are weighing on price performance, Moody's says. However, the agency's analysts note that they've seen a pick-up recently in the number of deals trading hands overall, which they see as a positive sign for the commercial real estate market as it sets the stage for recovery.

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BlackRock Names New Global Head of Real Estate

BlackRock, Inc. recently hired Jack Chandler as global head of real estate. Chandler will oversee BlackRocks global real estate capabilities, which extend across the capital market structure and include both equity and debt investment products. Chandler is the former global chief investment officer and executive chairman, Asia, for LaSalle Investment Management. At BlackRock, he succeeds Paul Audet, senior managing director, who assumed interim leadership for the firm's real estate business in 2008.

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Holliday Fenoglio Fowler Expands Florida Footprint

Holliday Fenoglio Fowler, LP (HFF), a provider of capital markets financing and loan servicing to the commercial real estate industry, announced Monday that it will expand its Florida presence by officially opening an office in Tampa with an immediate focus on investment sales. With the addition of the Tampa facility, HFF operates out of 19 offices nationwide.

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Cash Buyers and Investors Make Outlook for Condo Market Not as Bleak

Recent news has highlighted the severity of the renewed downturn in home prices, but Capital Economics says although condominiums will not escape altogether, over the next year or so condo prices are likely to fall by less than their single-family counterparts. The research firm notes that demand for condos is currently stronger than demand for single-family homes, due to cash buyers and investors seeking rental income. The condo market also boasts a lower delinquency rate, which suggests fewer foreclosed properties will support the supply of condos.

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North Carolina Firm Launches Distressed Commercial Real Estate Site

North Carolina real estate firm Jewell Realty, which specializes in bank-owned REO, foreclosed, and distressed properties in the commercial real estate sector, has launched a new Web site, which the company says is primarily a one-stop resource for quality commercial REO properties and other choice commercial bank foreclosures. Buyers can search for a private residence, a community development, a warehouse, an office building, and even open land.

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Vegas Sales at Five-Year High as Investors Seek Out Distressed Homes

Las Vegas region home sales held at a five-year high in March amid strong activity from investors and cash buyers focusing on foreclosures. Due to the large number of discounted, foreclosure properties on the resale market, the median sales price fell in the area. According to figures from DataQuick, the median price paid for all new and resale houses and condos sold in the Las Vegas metro area in March was $117,000, it's lowest mark since January 1996.

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Distress in Commercial Real Estate Sector Maintains Plateau

The research firm Delta Associates says distress in the commercial sector is maintaining its plateau. The company's analysts report that despite a $5 billion increase in the volume of commercial properties in foreclosure and lender REO over the last two months, the level of distress has remained in the $175 billion to $190 billion range since the spring of last year. They warn that the months ahead, though, could test the staying power of the stabilization seen thus far.

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Las Vegas Auction Brings $1 Billion in Distressed CRE to the Market

Auction.com and loan sale advisor Archetype Advisors will auction $1 billion of Nevada commercial REO properties and non-performing notes May 17-19 in Las Vegas. It is the largest commercial real estate (CRE) and note auction of its kind in U.S. history, according to a statement from Auction.com says the unprecedented volume of distressed real estate to be featured represents the bottom of the market for Nevada, and in particular, Las Vegas.

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Treasury’s Toxic Mortgage Program Pulls in $1.7B

The program launched by Treasury in March 2009 to take toxic mortgage assets off banks' books has earned $1.7 billion for taxpayers -- $500 million in dividends on the investments made and $1.2 billion in ""unrealized gains"" as the value of securities purchased under the program has increased. The private investment firms participating in the program - including the likes of AllianceBernstein, BlackRock, and Invesco - are seeing returns ranging from 27 to 75 percent.

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