Aug 28, 2009 | No Comments | Sean Mills
It seems to me we are hearing the same old thing from the experts at the conference, hurry up and get ready because now is the time..-
Sean
Halford joined moderator Jeff Moore, senior managing director of CB Richard Ellis Inc.; Brandon Birtcher, president and CEO of Birtcher Development & Investments; Guy Johnson, president of Johnson Capital; [...]
It seems to me we are hearing the same old thing from the experts at the conference, hurry up and get ready because now is the time..-
Sean
Halford joined moderator Jeff Moore, senior managing director of CB Richard Ellis Inc.; Brandon Birtcher, president and CEO of Birtcher Development & Investments; Guy Johnson, president of Johnson Capital; Martin Pupil, executive managing director of Colliers International; and Tom Sherlock, senior managing director of Buchanan Street Partners during the event’s opening panel.
“I think that cleansing is healthy, but it is going to be a painful cleansing,” said Halford. “But if you can get your mind past that, and if the numbers or values get low enough, people will start sniffing around investing, whereas 90 days ago, they wouldn’t dare even talk about investment.”
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Aug 28, 2009 | No Comments | Sean Mills
Article from Erica Morphy at Globe Street.
WASHINGTON, DC-The total value of distressed commercial real estate reached $114.2 billion in August, Buy Generic Levitra according to the latest issue of the quarterly Distressed Commercial Real Estate Journal. The journal is published by the Distressed Asset Recovery Team–a consultancy formed earlier this year by Beers and [...]
Article from Erica Morphy at Globe Street.
WASHINGTON, DC-The total value of distressed commercial real estate reached $114.2 billion in August, Buy Generic Levitra according to the latest issue of the quarterly Distressed Commercial Real Estate Journal. The journal is published by the Distressed Asset Recovery Team–a consultancy formed earlier this year by Beers and Cutler, Delta Associates, Fore Consulting, and BlackwellAdvisors–and uses data provided by several firms including Real Capital Analytics.These latest figures represent an increase of 17%, or $16.8 billion since June, DART notes. The good news, however, is that the figures also establish that the pace of assets going into distress is slowing. How much that represents a genuine recovery is unclear as much of the slowdown is due to lenders bending over backwards to keep the properties under borrowers’ control, Greg Leisch, principal with Delta Associates, tells GlobeSt.com. If nothing else, though, the numbers are another data point to be added to the growing reports that suggest a recovery is on the horizon.At $10 billion, Manhattan has the highest volume of distressed assets, followed by South Florida at close to $6.5 billion. The metro area experiencing the least distress is Baltimore.
The picture the report paints, of course, is hardly pretty: retail properties continue to be the largest asset class under distress at $32.7 billion this month, compared to $29.7 billion in June. Indeed, in general every product type recorded an increase with hotel properties increasing the most, by 65%, to $18 billion. Single-family and condo loans account for most of the delinquency problems with construction loans, according to Foresight Analytics, which also contributes data to the report. Now, though, declining fundamentals and liquidity issues are pushing delinquencies up for other property types as well. Indeed, the delinquency rate has risen sharply in the past six quarters, from 7.2% in Q1 2008 to 17.1% in Q2 2009.
Aug 28, 2009 | No Comments | Sean Mills
Fed official is quoted as saying “If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Lockhart. During [...]
Fed official is quoted as saying “If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Lockhart. During this recession I have often warned to look at the true numbers as they relate to unemployment, the BLS U6 numbers and not the “official” U3 feel good numbers. Oh but remember even though he is a Fed Chief, it is his opinion and not that of the Fed. -Sean
Real US unemployment rate at 16 pct: Fed official
The real US unemployment rate is 16 percent if persons who have dropped out of the labor pool and those working less than they would like are counted, a Federal Reserve official said Wednesday.
“If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Lockhart.
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Aug 28, 2009 | No Comments | Sean Mills
OK now the sub-prime loans have all but flushed through the system it is time for the Alt-A and A loans to hit the foreclosure market. Estimates are the true “fat” of the loans will not reset or be re-cast until Sept 2011 so in essence the foreclosure party is continuing..-Sean
Loans That Looked Easy Pose Threats [...]
OK now the sub-prime loans have all but flushed through the system it is time for the Alt-A and A loans to hit the foreclosure market. Estimates are the true “fat” of the loans will not reset or be re-cast until Sept 2011 so in essence the foreclosure party is continuing..-Sean
Loans That Looked Easy Pose Threats to Recovery
Garry Kopff and his wife Judy in the backyard of their house in the affluent area of Washington, D.C.
When Harvey Clavon took out an exotic mortgage to refinance his home in Santa Clarita, Calif., three years ago, he thought he knew what he was doing.
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