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Archive for the ‘Economic’ Category

The 10 Hottest Los Angeles Neighborhoods For House Flipping

Monday, July 7th, 2014

Flipping is back and it’s more insane than ever. Unlike the pre-recession years, when amateurs ruled the scene, today it’s professional investors snapping up all the houses and driving up prices. Redfin found that Los Angeles had the highest number of flips in 2013 and 2014 (so far) combined. (RealtyTrac previously found Los Angeles had the third most flips between April 2013 and March 2014.) And these aren’t just little shacks in crappy neighborhoods—there are so few cheap houses in LA these days that flippers have started moving into the higher-end of the market and it’s paying off with huge gains. The average flip in 2013 made $126,100; that’s the sixth highest market in the US (following Bay Area cities, Long Island, and Boston) and far above the nationwide average of $90,200.

Read the article here  (Redfin, 6/19/14 via Curbed LA 7/7/14)

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Wealthy Families See Attractive Opportunities in Commercial Real Estate

Wednesday, March 26th, 2014

Institutional capital has been pouring into the commercial real estate sector recently, helping push investment sales volumes up each year since the downturn.

But it’s another pool of capital—funds from high net worth individuals and family offices—that may drive the next wave of investment.

Read the article here  (wealthmanagement.com 3/26/14)

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Economic News: Hotel Owner-Operator Sees Resurgence of Business Traveler

Tuesday, March 25th, 2014

Tyler Morse, CEO of New York-based MCR Development, one of the 20 largest hotel owner-operators in the country, joined REIT.com for a video interview and was asked about the relative strength of the business and leisure travel segments of his company’s customers.

Read the article here  (REIT.com 3/25/14)

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As Refinancing Wanes, Banks Are Wary of New Loans – NY Times 1-14-14

Wednesday, January 15th, 2014

Home prices have been rising, the federal government is providing support to bolster the mortgage market, and the big banks that make home loans are strong enough to provide credit to borrowers.

Yet little has returned to normal since the 2008 financial crisis, leaving a large swath of borrowers virtually shut out of the market.

Read the article here  (NY Times 1/14/14)

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The switch to self-employment has mortgage implications – LA Times 1-12-14

Tuesday, January 14th, 2014

Despite excellent credit, it’s still possible to be turned down for a mortgage due to new rules on verifying that borrowers have the ability to pay:

“I have loads of money. I own four properties free and clear. I have no debt. My credit file is impeccable. I have a credit score of 760.  And I was just turned down for a mortgage.”

Read the article here  (LA Times 1/12/14)

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Why Business Investment Could Break Out – WSJ 1-12-14

Monday, January 13th, 2014

If U.S. gross domestic product, the sum of all the goods and services produced in the economy, comes in at a 3% growth pace for the final three months of 2013, as many economists are forecasting, the economy could see the best half of a year in a decade.

Read the article here  (WSJ 1/12/14)

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Commercial Real Estate Sector has Emerged as a Compelling Investment Globally Thanks to Attractive Yields and Growth Prospects – CNBC (video) 1-10-14

Friday, January 10th, 2014

There is a lot of confidence going in to 2014 in the commercial real estate (CRE) asset class, thanks to more certainty, according to Hessam Nadji, SVP & Chief Strategy Officer, Marcus & Millichap.

Watch the video interview here.  Read the full research report here.

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Yes, the Housing Recovery Is Real – GlobeSt 8-19-13

Tuesday, August 20th, 2013

The housing recovery is no myth, according to locally based RealtyTrac and a group of realestate brokers who gathered for the data source’s roundtable webinar, “The Recovery of the Housing Market:Fact or Fiction?” last Friday. The brokers, who hail from Utah, Nevada, Oklahoma, New York and Southern California, affirm that in each of their markets home prices are rising, demand is high and inventory is low,signifying a recovery in full swing.

Read the article here  (GlobeSt.com 8/19/13)

Yes, the Housing Recovery Is Real - Daily News Article - GlobeSt 8-19-13

Home prices post sharp increases in January

Wednesday, March 27th, 2013

Southern California, the Bay Area and other California markets saw sharp price increases in January 2013, and are now clearly in recovery.  Over the year, the Los Angeles metro area was up 12.1%, San Diego up 9.8% and San Francisco up 17.5%.

Read the article here  (LATimes 3/26/13)

Sudden Rise in Home Demand Takes Builders by Surprise

Thursday, March 21st, 2013

The NY Times reports that the housing market recovery across the country, and in Northern California in particular, is real and showing its resilience.

“In my 27 years I’ve never seen inventories this low… I’ve also never seen a market turn so quickly.”  -Real estate broker in Sacramento, CA

Read the article here  (NY Times 3/20/13)