Housing Market Boast Brilliant Numbers
August 4, 2010 by admin
Filed under Home Resales, Investors, Mortgages, Positive Real Estate, Real Estate Articles
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New home sales jumped 23.6% in June to an annual rate of 330k compared to market expectations for a somewhat smaller increase to a rate of 320k. Also, the S&P/Case-Shiller 20-city home price index increased 0.5% in May from April and 4.6% from May one year ago. This was the second monthly increase and the fourth year-over-year gain in home prices. 15 of the 20 metro areas tracked by this index showed monthly price gains.
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Neighborhood Shopping Center Sells for $16,000,000 in La Cañada, Calif.
August 3, 2010 by admin
Filed under california, Investors, Positive Real Estate, Real Estate Articles
The 42,093-square-foot shopping center, known as Foothill Promenade, sold for as much as 16 million dollars recently. Tenant’s include Trader Joe’s, Union Bank, Petco, Aaron Brothers, Starbucks and Han’s Beauty. The purchase is part of the buyers’ plan to acquire high quality shopping centers in Southern California. “This combined with an increased demand from investors has created a very competitive environment so far this year. In the past couple of months, the market has started to see an increase in neighborhood shopping centers sold and marketed for sale in southern California. Watch for this trend to continue and pick up momentum moving into the fourth quarter,” reported William B. Asher of Hanley Investment Group.
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NAR Supports the Growth of Small Businesses
August 2, 2010 by admin
Filed under Home Resales, Investors, Mortgages, NAR, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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“As the leading advocate for private property rights, NAR believes it is critical for Congress to act soon and to get capital flowing to small businesses and to the commercial real estate market,” Jim Helsel, treasurer of the National Association of Realtors, told the House Committee on Financial Services. He explained that raising the SBA loan limits and allowing the SBA 504 loans to be used to refinance property can help ease the liquidity crisis in the commercial sector. He went on to articulate that the NAR strongly supports the H.R. 3380 because it is projected to raise the credit union member business lending cap from 12.25 percent to 25 percent of total assets. Small regional and community banks make up for close to half of the small business loans issued in the United States. Needless to say, available credit unions increase the credit accessible by small businesses.
Source: NAR
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Four Consecutive Quarters of Profit and Growth – 1st Capital Bank Announces its Unaudited Financial Results
July 23, 2010 by admin
Filed under california, Investors, Mortgages, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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1st Capital Bank announced its impressive fourth consecutive quarter of profit and growth today. The bank has continued to grow in asset size and has expanded its market share in Monterey County. “The three months ended June 30, 2010 represent the fourth consecutive quarter of profitable operations for 1st Capital Bank,” said Fred Rowden, President and CEO of 1st Capital Bank. In addition, net income recorded for the quarter ended June 30, 2010 increased $187,000 (1169%) to $203,000, compared to $16,000 for the trailing quarter ended March 31, 2010.
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OceanFirst Financial Corp. Announces Growth in Deposits, Loans, Revenue and Earnings Per Share
July 23, 2010 by admin
Filed under Investors, Mortgages, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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OceanFirst Financial Corporation announced that their diluted earnings per share increased 3 cents from $.24 to $.27. To add, deposits increased $158.9 million during the last quarter, of which $156.6 million was in growth core deposits. Furthermore, total revenue increased to $23.3 million for the quarter.
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Foreign Buyers See US at Bargain
From Newsmax A poll conducted by the Association of Foreign Investors in Real Estate of 100 of its members shows that 54 percent of lenders and 40 percent of equity investors intend to boost their global real estate activity this year.
The numbers are even higher for the United States. A whopping 73 percent of equity investors intend to allocate more money to U.S. real estate this year, and 58 percent of lenders plan to lift their activity here.
New York and Washington, D.C. — in that order — topped the city popularity chart for the respondents. That’s worldwide, not just in the United States.
Everyone knows what happened to the U.S. real estate market last year.
As credit flow halted, commercial property sales naturally fell.
But some now say the worst is over and believe the U.S. real estate market will rebound first, just as it fell first. The fact that it’s the world’s biggest property market doesn’t hurt either.
Accordingly, real estate has officially entered the financial lexicon as a value investment. It may be time to climb aboard.
“If you are going to be an international investor you’ll want a significant part of your portfolio in the largest market,” Jim Fetgatter, the association’s chief executive, told Reuters.
