Out-of-state investors zero in on Twin Cities real estate
“Out-of-state real estate investors from Malaysia to Miami are spending billions on Twin Cities apartment complexes and commercial buildings, including some of the most iconic office towers on the downtown Minneapolis skyline.”
Darden Split Plan May Hinder Real Estate Deal, Activist Says
“Darden Restaurants Inc. (DRI)’s plan to split off Red Lobster could prevent the company from unlocking the $4 billion of value trapped in its real estate holdings, according to Barington Capital Group LP.”
The American Real Estate Investors Academy Now Offers Unsecured Lines Of Credit
“The American Real Estate Investors Academy is working with Aurelian Capital to bring unsecured credit lines to real estate investors. Membership in the Academy is not required.”
10 tips for homebuyers and sellers in 2014
“Goodness, is it 2006 again? At the dawn of 2014, it feels like it.”
A watchdog grows up: The inside story of the Consumer Financial Protection Bureau
“In late 2011, a quiet revolution took place at the corner of 17th and G streets NW.
About 500 federal workers were vacating the drab, 1970s-era headquarters of the Office of Thrift Supervision. The agency had just been scrapped for its role in the financial crisis, which in retrospect seemed almost inevitable: Its primary mission had been to keep banks solvent, and its budget depended on how many of them chose it as their regulator, leading to almost criminal complacence.”
Rising community association fees are squeezing homeowners on tight budgets
“When Brenda Batts purchased her condominium near the U Street corridor in 2006, she was planning to retire at age 65. Now 62, Batts, an office manager, fears she may not meet that goal, thanks to a nagging worry from when she purchased the unit, which assesses a monthly fee for common charges on top of her mortgage and property taxes.”
As mortgage banking industry dwindles, bidding wars over quality housing become common
“This is generally a slow time of year in the residential housing market, but according to Re/Max broker Rosalie Daniels, of Hamilton, bidding wars over housing are increasingly common.”
America’s Big Bank Earnings Announcements Will Be Highlighted By Tumbling Revenue
“Three of the four biggest commercial banks in the US are expected to report falling revenue in the week ahead as loan activity falls.”
Two lawsuits that could harm RMBS investors
“Investors in residential mortgage-backed securities are far from out of the woods when it comes to resolving financial risk from RMBS investments.”
3 ways the coming rate hikes can sink the housing market
“With few exceptions most are projecting interest rates will be edging up over the next 12 months, as the Federal Reserve tapers off its four-year-plus policy of printing $1 trillion a year to buy MBS and Treasurys.”
A calm picture of the economy emerges, but will it last?
“After months of clouded economic data in the wake of financial and congressional uncertainty, the economy is expected to see clearer skies ahead, analysts claim in a new report.”
Total Mortgage Services doubles over next 5 years
“Connecticut Governor Dannel Malloy and the state Department of Economic and Community Development will provide Total Mortgage Services with a $3.5 million loan to help the company establish its national headquarters with a new facility in Milford.”
Freddie Mac: Short Sales More Attainable Than Homeowners Think
“When a homeowner is unable to make their mortgage payments or owes more on the home than it’s worth, a short sale can be a viable option that avoids the negative implications of a foreclosure for both the homeowner and the mortgage-holder.”
Treasury Releases November Making Home Affordable Report
“Nearly 23,000 permanent loan modifications were completed under the Home Affordable Modification Program (HAMP) in November, according to a new report from the U.S. Treasury.”
Unemployment Down: Is The Fed In Trouble?
“The latest news on the unemployment front is good for just about everyone: The government says 203,000 jobs were added to the economy in November and that the unemployment rate is down from 7.0 percent to 6.7 percent.”
The bubble that is California: A flood of rentals in lower priced markets, inventory creeping back up, and investors appetites waning.
“California can be viewed as a microcosm of what is occurring across the United States. Few markets are propped up by a smaller affluent population while most, are pushed outward or to rentals as incomes go stagnant. People for the most part only pay attention to what is immediately around them. When the crisis hit in 2007 many were caught off guard although the warning signs were all over the place. As 2014 starts, we are now seeing a definite slowdown in housing even in higher priced areas. Inventory appears to be coming back online but sales are very weak since people are asking for peak prices and drinking the housing Kool-Aid with gusto. The median sales price in SoCal has stayed put since June but sales have fallen steadily. Across the state, with more rentals from investors prices are soft and unlikely to rise given that many Californians have not seen any real income gains over the last decade. For the most part, many are stuck in a bubble thinking things will remain the way they are simply by sheer momentum.”
2014: Private Forces Move to the Fore
“Waning Fiscal Drag and Easing Policy Concerns Expected to Boost Economic Growth this Year”