Los Angeles industrial real estate outperforms nation
April 28, 2010 by admin
Filed under california, Positive Real Estate
Image via WikipediaFrom LA Times
Industrial property landlords are suffering in most of the country – but not so much in Los Angeles, a real estate brokerage said Tuesday.
Vacancy in the U.S. increased for a 10th consecutive quarter to 10.9% in the first three months of this year, Grubb & Ellis said. Asking rents were down almost 7% from a year ago. With the economy finally starting to improve a bit, the pace of deterioration in the industrial real estate market is easing, “but not quickly,” said the brokerage in a report.
In Los Angeles, vacancy rose a smidgen from a year ago to a mere 3.4% in the first quarter, though that was a six-year high. Asking rents have been coming down for the most part since 2008.
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Real Estate Optimism
April 24, 2010 by admin
Filed under Positive Real Estate
- Image via Wikipedia
More than 48 percent of first-time buyers expect home prices to increase by this time next year, according to a survey by Century 21 Real Estate.
Sixty percent of first-time home buyers say they didn’t understand the process of buying a home, and more than 85 percent of both first-time buyers and sellers said that using a real estate professional was important.
The top three skills valued in a real estate professional by both buyers and sellers were knowledge of the area, trustworthiness, and responsiveness.
More than 80 percent of buyers believe now is a good time to buy a home. First-time home buyers rated these three factors as the most influential in their decision:
• Current housing prices: 66 percent
• Home Buyer tax credit: 63 percent
• Low loan rates: 60 percent
In choosing a home, 95 percent of first-time home buyers thought price was the most important consideration, but 90 percent were also very concerned about neighborhood safety.
About 54 percent of first-time sellers think home prices are more affordable now than they were this time last year, and 50 percent were selling because they were purchasing a property they saw as more attractive and better suited to their needs.
Source: Century 21 Real Estate LLC (04/21/2010)
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Builders Glee Over Housing
- Image via Wikipedia
Builder confidence in the market for newly built, single-family homes improved significantly in April as applications for permits to build new homes jumped 7.5% in March. This according to the Commerce Dept and results of the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI surged four points to 19 in April, its highest level since September of 2009.
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Positivity in Marketplace
March 29, 2010 by admin
Filed under Home Resales
- Image by Thomas Hawk via Flickr
Brokers and agents across the United States reversed three months of declining optimism in Point2 Technologies’ Real Estate Confidence Index (RECI) survey, pushing the forward looking market opinion Index up 2.49% for the March 2010 survey period. Accounting for seasonality, the national monthly Index moved up to 5.77 on the one to ten scale (1 being “Bad” and 10 being “Good), up from 5.63 in February 2010
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Employment Predictor: More Jobs
June 2, 2009 by admin
Filed under Employment Outlook
Biggest Gain in Job Wanted ads since October 2006
Online advertised vacancies rose 250,000 to 3,367,000 in May, according to The Conference Board Help-Wanted Online Data Series (HWOL)(TM) released this week. The May gain was the first since the modest gain of 21,000 in October 2008, and the largest since October 2006. Even with this month’s increase, online advertised vacancies remained down 1,152,000, or 25%, since last year. This uptick was true in 43 of the 50 states in the month of May.
Source: http://rismedia.com/
Related articles:
- Consumer confidence jumps (americablog.com)
- Consumer confidence jumps on jobs outlook (dailyfinance.com)
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Housing To Rise
May 22, 2009 by admin
Filed under Positive Real Estate
- Image by Allie_Caulfield via Flickr
The Housing Market Hits the Bottom http://www.huliq.com/4745/81119/housing-market-hits-bottom
According to Real Estate Professionals and most of the major indices, the beleaguered housing market has finally hit the bottom or is only weeks away from being at the bottom of the market.
The mood in the Real Estate Industry seems to be on an uptrend. A recent survey conducted by HomeGain.com showed that almost half of Real Estate Agents who took part in the survey expect home prices to stop falling and begin increasing in the next six months. The majority of these Agents (85 percent) said that the homes in their areas had dropped in value in the last twelve months. However, the last couple of months they have definitely seen an increase in activity and sales.
Distressed Real Estate entrepreneur – Sam Zell – agrees with the survey. He is forecasting that the housing market will bottom out this summer because the drop in building is starting to impact supply. Zell recently said that “the U.S. will recover and recover first around the world because we have a culture and we have an environment where we face up to reality quickly and effectively.”
Related articles
- Sam Zell calls bottom for residential real estate, says GM is done (dailyfinance.com)
- U.S. housing may be nearing bottom: Case-Shiller index (financialpost.com)
