REITs Continue To Outperform Broader Market Despite Negative First Half Returns
July 18, 2008
June profit taking eroded solid gains made by REITs earlier in the spring. REITs finished in negative territory for the first half of 2008 but still bettered the performance of other major market benchmarks.
Washington, DC (Vocus/PRWEB) July 18, 2008 — June profit taking eroded solid gains made by REITs earlier in the spring. REITs finished in negative territory for the first half of 2008 but still bettered the performance of other major market benchmarks.
- For the first half of 2008, the total return of the FTSE NAREIT All REITs Index, which includes U.S. Equity, Mortgage and Hybrid REITs, was down 5.52%, while the FTSE NAREIT Equity REITs Index was down 3.59%. By comparison, the S&P 500 was down 11.91% for the half, the Dow Jones Industrials were down 14.44%, the NASDAQ Composite was down 13.55% and the Russell 2000 was down 9.37%.
- For the second quarter of 2008, the FTSE NAREIT All REITs Index was down 5.13% and the FTSE NAREIT Equity REITs Index was down 4.93%, while the S&P 500 was down 2.73%, the Dow Jones Industrials were down 7.44%, the NASDAQ Composite was up 0.61% and the Russell 2000 was up 0.58%.
Self-storage and Apartments remained the strongest segments of the REIT market throughout the first half of 2008.
- The total return of the Self-storage segment was up 12.15% for the first half of 2008.
- The total return for the Apartment segment was up 4.35% for the first half of the year.
Equity REITs continued to outperform other major market benchmarks for multi-year periods.
- The total return of the FTSE NAREIT Equity REITs Index outpaced the S&P 500, the Dow Jones Industrials, the NASDAQ Composite and the Russell 2000 for the past 3-, 5-, 10-, 15-, 20-, 25-, 30-and 35-year periods as of June 30, 2008.
The National Association of Real Estate Investment Trustsâ (NAREIT) is the representative voice for U.S. REITs and publicly traded real estate companies worldwide. Members are real estate investment trusts (REITs) and other businesses that own, operate and finance income-producing real estate, as well as those firms and individuals who advise, study and service those businesses. Visit our Web sites at www.nareit.com and www.investinreits.com.
NAREIT does not intend this press release to be a solicitation related to any particular company, nor does it intend to provide investment, legal or tax advice. Investors should consult with their own investment, legal or tax advisers regarding the appropriateness of investing in any of the securities or investment strategies discussed in this publication. Nothing herein should be construed to be an endorsement by NAREIT of any specific company or products or as an offer to sell or a solicitation to buy any security or other financial instrument or to participate in any trading strategy. NAREIT expressly disclaims any liability for the accuracy, timeliness or completeness of data in this publication. Unless otherwise indicated, all data are derived from, and apply only to, publicly traded securities. Any investment returns or performance data (past, hypothetical, or otherwise) are not necessarily indicative of future returns or performance.
Worst Housing Markets Falling Faster
July 17, 2008
The nation’s housing crisis is expanding and deflating more markets home values as shown in the updated Housing Predictor Worst 25 Market Forecasts for 2008.
Destin, FL (PRWEB) July 17, 2008 — As the real estate crisis expands and deflates more housing markets across the nation, the Housing Predictor Worst 25 Market Forecasts are seeing growing deflation. The worst 25 market forecasts are issued at the beginning of each year, and have been updated.
The ailing national economy, to an enormous extent was caused by the housing market crisis. It was triggered by Wall Street hedge funds coupled with mortgage companies and banks developing a series of new financial instruments to sell mortgages at all time record rates.
The crisis has dealt a severe blow to housing values in the over-whelming majority of the country and threatens to undermine the entire U.S. economy. As the crisis worsens, Congress has still been unable to get a major bill finalized to aid more homeowners under threat of foreclosure.
A handful of programs to aid those facing foreclosure have assisted slightly more than 600,000 homeowners, but without more substantial action by lawmakers the crisis is only expected to expand, further damaging the national economy. Already, more than 2.5-million homes have been foreclosed. Another 3.1-million properties are forecast by Housing Predictor to be foreclosed through 2011 unless major Congressional action is taken. A Housing Predictor survey indicated an over-whelming majority of those surveyed don’t believe Congress will be able to pass legislation that will help resolve the crisis.
Housing Predictor forecasts more than 250 local housing markets in all 50 U.S. states and is a recognized leader in accurately forecasting market patterns. The worst 25 markets are experiencing increasingly rapid deflation as foreclosures remain at epidemic levels.
California, which experienced double-digit housing inflation in the majority of the state, is now experiencing the pain of tumbling home prices in just about every market statewide. Price deflation nearly equals that of the late 1980’s when the U.S. Savings and
Loan Fraud scandal gripped the nation. No other single state has placed more markets on the list.
Eleven states markets are included in the worst 25, including Florida, Ohio, Indiana, Nevada, Michigan, Oregon, Georgia, Delaware and Massachusetts.
To check out the updated Worst 25 Housing Markets Forecast, search real estate listings and check your own market forecast visit http://www.housingpredictor.com
AIREEC 2008 Seeks to Stimulate U.S. Real Estate Industry, Economy
July 13, 2008
Written by Editor Choice
Sunday, 13 July 2008
The American International Real Expo and Conference (AIREEC) September 5-7 2008 to be held at the Los Angeles Convention Center aims to bring together over 10,000 attendees from over 30 countries in its commitment to help improve the American real estate industry, and in effect, the economy.
This year’s theme is “The Business of Global Second Homes and Resorts” which responds to the tsunami of aging baby boomers entering their retirement years and the emerging “new rich” market from developing countries.
AIREEC is bringing in foreign real estate investors which the struggling U.S. real estate market can cash in from. American baby boomers and investors, on the other hand, are presented foreign investment opportunities that they can afford and build equity on.
The U.S. alone has about 78.2 million baby boomers (Source: U.S. Census Bureau, 2005) that are looking to retire actively. “Our message to American baby boomers is that they can still retire luxuriously at prices they can afford in other countries that are now at par with U.S. standards,” says Susan Barlin, CEO of ECPI. “An 18-year travel boom has already begun which benefits developing economies.”
Barlin also discussed her economic plan for the U.S. “One way to significantly bring in money to the American economy is through selling its real estate. As we all understand, real estate is the backbone of all economies.
“Through AIREEC, we’re bringing in foreign investors to buy U.S. properties. In effect, there will be motion in real estate sales in stagnant times like today. With what AIREEC can bring to the table, the U.S. real estate market will be back on track in no time.”
After its huge success in Manila, Philippines with its Asian version of AIREEC in December 2007, event organizer Expo and Convention Promotions, Inc. (ECPI) brings globalization opportunities to the U.S. by creating a platform for networking between U.S. real estate industries and its global counterparts mainly from Asia, Europe, Central America, Australia, and South Africa. Related industries such as mortgage, tourism, health services, technology, materials manufacturers, and professional services, among others, will also be at the event.
For more information and/or sample copies, please contact Paul Eulalia at +1310.800.4907 or paul@aireec.com.This e-mail address is being protected from spam bots, you need JavaScript enabled to view it You may also visit their website at www.aireec.com.
About ECPI: Expo and Convention Promotions, Inc. (ECPI) is founded in October 2005 by a group of individuals who, together, have gained success in the international real estate industry through 30 years of experience and expertise. It believes in a world with no borders, thus, opening infinite business opportunities to nations that participate in its events.
Harlem is Getting its Groove Back - 5th on The Park Luxury Condos Stand Out as the Beacon of Harlem
July 8, 2008
New York, NY (PRWEB) July 8, 2008 — The recent passage of a major rezoning plan for Harlem by the City Council last month is expected to further re-invigorate the neighborhood and its rich history.
Fifth on the Park Luxury Condos
The plan is expected to increase residential developments and bring new residents and visitors to Harlem, where many news businesses, arts and entertainment venues are already planned.
More new luxury developments may rise in Harlem, joining others like the spectacular 5th on The Park that is now Harlem’s fastest selling luxury condominium with spectacular views of upper Manhattan. The FX-Fowle designed 28-story building at 120th and Fifth Avenue, is more than half sold, with over 90 apartments out of 160 already purchased.
At 5th on The Park, all residents will be treated to amenities that include a lap pool, fitness facility, private and common terraces, 24-hour concierge, doorman, valet parking garage and a spectacular new modern 1,800 capacity church in the lobby of the building.
While units sell close to $900 per sq. ft. savvy buyers know a comparable apartment in midtown would cost almost double that.
“It’s a very adventuresome project for Harlem,” said Lewis Futterman, co-founder of Uptown Partners, developer of 5th on The Park. “It’s something people wouldn’t have even dreamed of doing three or four years ago.” “Upper West Side residents are no longer willing to pay Manhattan prices. And these buyers make up the majority of new buyers here in Harlem.”
And it’s not just Upper West Side residents. With its central location and proximity to express trains (2/3, 4/5), 5th On The Park has attracted buyers from Chelsea, Gramercy, Upper East Side, Clinton (formerly Hell’s Kitchen), Lower East Side and Wall Street. It has special appeal to Upper East Siders, and in particular, the Mt. Sinai Medical Center community from which 3 doctors have already purchased. The M1 bus stops right outside 5th On The Park and goes down 5th Avenue directly to the hospital.
At 5th on The Park, prices range from $649,900 for a one bedroom; $878,500 for a two bedroom; $1,258,300 for three bedroom and $1,903,700 for a four bedroom.
At 5th on The Park, which is one of the tallest in Harlem, park and city views rival those of the finest downtown properties. “As far as value, there is simply no comparison,” adds Futterman . (See the Real Views from the 22nd floor attached.)
Uptown Partners LLC, developer of 5th on the Park, was formed in 2001 specifically to address the emerging market rate condominium market in Harlem. It creates home ownership opportunities, comparable in quality and amenities to downtown developments, for people whose higher incomes prevented them from qualifying for the many shallow-subsidy, middle class condo or coop projects being created in Harlem through various public/private partnerships. Since that time, it has been the lead developer of the two largest solely market rate condominiums in Harlem, The Lenox and 5th on the Park.
Griffin Real Estate Group (GREG), Exclusive Sales & Marketing Agent for 5th on the Park, is the only development marketing group based in Harlem, founded in 2000 by Carole N. Griffin, a real estate veteran with over 16 years experience in Harlem. As a well-respected, long-term member of the Harlem community, Ms. Griffin recognized that as interest in the historic neighborhood skyrocketed, there existed a profitable opportunity to fill a void in this burgeoning marketplace for community-minded representation that broadens rather than replaces the residential profile of Harlem. Since then, GREG has enjoyed peerless success with its exclusive representation of numerous prestigious projects. Ms. Griffin is a member of the National Association of Realtors, the Real Estate Board of New York, the African American Real Estate Professionals of New York, and other local business and realty groups. Please contact Holly Pulliam at 212.491.7200, Hpulliam @ griffinny.com, or www.griffinny.com.
Phoenix Realty Group (PRG), equity partner in 5th on the Park, is a national real estate investment firm providing capital and expertise to urban and infill developers and directly investing in opportunistic real estate ventures. PRG has extensive in-house real estate development and asset management capabilities.PRG has attracted investments from America’s leading pension funds, banks and insurance companies, establishing discretionary funds that aggregate opportunistic and value-add real estate. The company manages private equity funds representing up to $3.5 billion in real estate development and acquisitions. (www.phoenixrg.com)
This press release has been distributed by SalemGlobal Internet Interactive Public Relations. Based in New York City, SalemGlobal (salemglobal.com) optimizes websites to increase traffic from search engines for the medical, healthcare, legal, automotive and real estate industries. For further information, please contact Dov Weinstock at 212-993-5828.
HH Architecture Named Lead Designer on $14.3 Million Campus Expansion
July 6, 2008
Fayetteville Technical Community College selected Raleigh-based architects to design renovation and expansion of 70,000 square feet to create a new gateway into campus.
PR9.NET July 03, 2008 - Raleigh, NC – HH Architecture, a full service design firm based in Raleigh, NC, was selected by Fayetteville Technical Community College to provide design services on a campus renovation project that will allow the school to serve a growing student population and keep up with demand for additional programs.
The project will create a new gateway to the campus and will expand toward Fort Bragg Road, a main thoroughfare between downtown Fayetteville and Fort Bragg. HH Architecture is the architect and lead designer for the renovation.
The project will renovate the former Service Merchandise building to add 70,000 square feet of space and over 20 new classrooms to expand academic programs. The renovation will offer high-tech upgrades, including a new technology-laden quad classroom center that will feature individual laptop stations and flat-screen video capabilities. The addition of space will relocate campus security to a new facility and provide an expansion of the book store to better serve the needs of students.
“We are excited to work with Fayetteville Technical Community College on such a prominent gateway project,” said Chris Horner, principal at HH Architecture. “This is a great example of responsible re-use of an existing structure; we’re working with FTCC to take this “big-box” retail store and essentially re-invent it as a major new academic and social hub for students.”
The project will explore the possibility of incorporating green features in the renovation, including clerestory day lighting, solar features, and a rainwater collection system. The school will have room for future expansion through the possibility of new construction adjacent to the new facility. The project is in the schematic design phase. Construction is scheduled to begin in 2009.
Toronto Real Estate Board: GTA Resale Housing More Balanced in June
July 5, 2008
TORONTO, ONTARIO–(Marketwire - July 4, 2008) - The trend toward more balanced market conditions continued in June with 8,600 properties changing hands, Toronto Real Estate Board President Maureen O’Neill announced today.
It is important to note that in this release you will also find market numbers specific to the resale housing activity in 2006 and 2007. This comparison is provided to help present a more accurate perspective of the resale housing market of 2008.
At $395,866, the Greater Toronto Area average price for last month increased by four per cent compared to June 2007 when it was $381,963. The City of Toronto’s average price of $433,082 last month increased three per cent from $421,139 in June 2007. In the 905 Region, last month’s average was $370,559, an increase of four per cent, from $355,240 in June 2007.
In the first two quarters of 2008, the average GTA price increased four per cent to $390,054 from $373,719 during the same time period in 2007, and up 9 per cent from the $356,977 recorded in the same period in 2006.
In the City of Toronto, the average price in 2008 increased four per cent to $427,198 from $411,530 in 2007, and up 10 per cent from $389,313 during the same period in 2006. In the 905 Region the increase was five per cent to $365,536 from $347,852 a year ago, up 9 per cent from $334,220 in 2006.
“Although June 2008 sales in the Greater Toronto Area (GTA) have declined 18 per cent to 8,600 from the June 2007 total of 10,451, June 2007 was the best performance ever for that month,” said Ms. O’Neill.
“This year we’re seeing a return to calmer conditions but the market remains healthy. When compared to the 8,730 transactions in June 2006, GTA sales activity in June 2008 decreased by only one per cent.” Record month June 2007 saw a 20 per cent increase over June 2006.
In the City of Toronto there were 3,481 transactions last month, a decline of 18 per cent from June 2007 with 4,238 sales but down 4 per cent over the 3,641 transactions in June 2006. When you compare record month June 2007 with June 2006, a period before the Toronto Land Transfer Tax went into effect, sales increased 16 per cent.
The 905 Region experienced an equivalent decline of 18 per cent, with 5,119 sales last month compared to 6,213 transactions in June 2007 but a one per cent increase over the 5089 properties sold in June 2006. When you compare record month June 2007 with June 2006, sales in the 905 Region increased by 22 per cent.
In the first two quarters of 2008, GTA sales declined 14 per cent to 43,685 transactions from 50,648 during the same time a year ago and down five per cent from the 45,797 recorded in the same period in 2006. When you compare the first two quarters of 2007 with the same period in 2006, GTA sales increased by 11 per cent.
In the City of Toronto, sales for the first two quarters declined 15 per cent to 17,370 from 20,574 in 2007 and down 8 per cent from 18,917 in 2006. In the 905 Region sales declined 12 per cent to 26,315 from 30,074 in 2007 and down 2 per cent from 26,880 in 2006. However, when you compare the first two quarters of 2007 with the same period in 2006, sales increased by 9 per cent in the City of Toronto and by 12 per cent in the 905 Region.
“The increase in listings we have seen in recent months has resulted in a slightly longer period during which homes are on the market, from 29 days a year ago to 34 days currently,” said Ms. O’Neill. “This has given buyers and sellers a little more time to make well-considered decisions.”
In certain pockets however, the pace of sales remained brisk this June.
Brooklin (E19) experienced a 35 per cent increase in overall sales based on strong detached home transactions.
Burlington (W25) saw a 65 per cent increase in activity, driven by detached home transactions and even more robust attached/row house sales.
In Downtown East (C08), activity was up four per cent due to attached/row house and condominium apartment sales.
“We expect to see balanced market conditions continue in the coming months,” said Ms. O’Neill. “When you look at it from a long-term perspective real estate invariably provides stable returns.”
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
For more information, please contact
For All Media/Public Inquiries:
Toronto Real Estate Board
Mary Gallagher, Manager Media Relations
(416) 443-8158 or Cell: (416) 419-8133
Email: maryg@trebnet.com
Website: www.TorontoRealEstateBoard.com
Commercial Real Estate Broker Opens New Firm Offering New Innovative Services to Investors
July 3, 2008
Hart Commercial Real Estate founder, Jason Hart, develops new consulting services and new pricing structure for commercial real estate sellers.
Grover Beach, CA (PRWEB) April 3, 2008 — Commercial real estate broker, Jason Hart, has launched a new firm called Hart Commercial Real Estate, a boutique commercial real estate firm specializing in the purchase and sale of multifamily and commercial real estate throughout California.
Jason Hart, previously the broker and co-founder of both LHI Apartment Brokers and LeMay & Hart Real Estate Investments, employs a unique blend of real estate savvy and financial acumen to provide consulting and brokerage services to multifamily and commercial real estate investors of all levels of sophistication and experience. “What we do is simple… we improve our client’s bottom line by providing clear solutions for a complex commercial real estate environment,” notes Hart.
Jason Hart is an expert in real estate financial modeling using Argus, the industry standard tool for cash flow projections for commercial real estate. States Hart, “Clients rely upon this analysis while making decisions on asset management, valuations, acquisitions, dispositions, and financing.”
What we do is simple… we improve our client’s bottom line by providing clear solutions for a complex commercial real estate environment
In addition to some of the financial consulting services Hart Commercial Real Estate offers, Jason Hart has also developed a new pricing structure for his services. “I’m excited to offer my clients more options when it comes to selling commercial property.” He explains, “With the traditional real estate model the “serious” sellers ultimately subsidize the “maybe” sellers. I don’t believe this business model makes sense. Not for us, and more importantly not for our clients. That’s why I’ve developed solutions for property owners that provide them with premier marketing services, while saving them thousands on the sale of their commercial property.”
About the Company:
Hart Commercial Real Estate is a boutique commercial investment brokerage that employs a unique blend of real estate savvy and advanced financial acumen to provide consulting and brokerage services to apartment and commercial real estate investors of all levels of sophistication and experience.
Jason Hart, founder of Hart Commercial Real Estate, is a graduate of the California Polytechnic State University of San Luis Obispo School of Business with an emphasis on business finance and commercial real estate. He currently serves on the board of directors for the Boys & Girls Club of South San Luis Obispo. He has also served on the board of directors of Arroyo Grande Rotary Club as well as the Pismo Coast Association of Realtors.
Contact: Jason Hart
Hart Commercial Real Estate
200 South 13th St, Suite 202
Grover Beach, CA 93433
Telephone: 805-481-9010
Fax: 805-481-9019
www.HartCRE.com
The Home Buying Process
July 2, 2008
The home buying process can be daunting, stressful and scary at times, but if you take each process step by step, it can be rewarding when you receive keys to your new home! Work with real estate industry professionals who can walk you through the process of buying a home,especially if this is your first time.
So what’s the first step?
- Meet with a loan officer to determine what you can afford.
- Find loan programs that will meet your needs.
- Locate a real estate agent to help you find your future home.
- Write an offer.
- Complete all necessary inspections and paperwork.
- Sign loan documents.
- Property records.
After the property records, you can now meet with your real estate agent and receive keys to your new home!
