Recent Articles
Nov 11, 2009 | No Comments | Sean Mills
Funny thing is there is still a massive log jam of NOD/auction homes not making it to the market nor are they going back to the lenders. The % of postponed auction properties ranges from 91-95% depending on the city and county here in most southern California markets. How it will loosen up or when [...]
Funny thing is there is still a massive log jam of NOD/auction homes not making it to the market nor are they going back to the lenders. The % of postponed auction properties ranges from 91-95% depending on the city and county here in most southern California markets. How it will loosen up or when it will loosen up is anyone’s guess. There is a lot of speculation with individual and group investors buying to flip which makes me think “hey is that how we got here in the first place?” Unemployment at record levels, job loss still topping the daily news stories, national healthcare plan proposed..hey it is a great time to speculate.-Sean
Home prices continued to decline across the nation as sales of heavily discounted foreclosed properties weighed down the market.
Median prices of existing homes fell in 123 of 153 metropolitan areas during the third quarter compared with a year earlier, according to the National Association of Realtors. The national median price was $177,900, down 11.2% from the third quarter of 2008.
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Oct 1, 2009 | No Comments | Sean Mills
This is a feature article from Globe St. on the ongoing debate of how corporate America and the individual investor are going to be affected by the “mark to market” FAS change. FAS 157 has many implications for a lessor and lessee, thanks Uncle Sam. Good cursory knowledge for the possible changes on the horizon.-Sean
LOS [...]
This is a feature article from Globe St. on the ongoing debate of how corporate America and the individual investor are going to be affected by the “mark to market” FAS change. FAS 157 has many implications for a lessor and lessee, thanks Uncle Sam. Good cursory knowledge for the possible changes on the horizon.-Sean
LOS ANGELES-New accounting standards requiring property to be marked to market and proposed changes in lease accounting rules could have an immense impact on the balance sheets, income statements and overall financial outlook of US corporations, many of whom are unprepared for the changes, according to a new report from CB Richard Ellis.
The white paper by CBRE, titled “FAS Talking–Unpacking Real Estate’s Impact on Financial Statements,” says that the estimated balance sheet impact of the proposed lease accounting changes alone could be well in excess of $1 trillion for US companies. The report says that the combined effects of mark-to-market and the lease accounting changes hold the potential to negatively impact earnings, capital requirements, debt covenant ratios, credit ratings and other measurements of corporate financial health.
Todd P. Anderson, CBRE senior managing director of global corporate services who co-authored the report along with CFO Michael M. Omiya of Boeing Realty Corp., explains to GlobeSt.com that the changes in accounting standards are “a continuation of the effort to have greater financial transparency, in particular in the financial statements for publicly traded corporations.”
The white paper analyzes the potential impacts of both the mark-to-market requirement and the proposed lease accounting changes–which could go into effect as early as 2011 or 2012–and discusses courses that corporations can purse in order to mitigate the effects of the changes. The mark-to-market requirement, known as FAS 157, went into effect for financial assets as of Nov. 15, 2007 and for non-financial assets including real estate as of Nov. 15, 2008…..
To read the whole story go to Globe Street.
Sep 22, 2009 | No Comments | Sean Mills
Southern California Apartment Association Trade Show on 09/30/2009
The largest rental housing education and networking event is just around the corner. September 30, 2009 is the date for California’s largest rental housing expo to be held at the Long Beach Convention Center from 9:00 AM to 5:00 PM in Exhibit Hall B.
The event is designed and [...]
Southern California Apartment Association Trade Show on 09/30/2009
The largest rental housing education and networking event is just around the corner. September 30, 2009 is the date for California’s largest rental housing expo to be held at the Long Beach Convention Center from 9:00 AM to 5:00 PM in Exhibit Hall B.
The event is designed and managed by The Apartment Association, California Southern Cities, and looks to be another great day with loads of free information on owning, managing and dealing with apartment housing.
You can discover and learn about all sorts of topics by browsing trade show booths, attending educational programs that will cover topics such as:
- Secrets to Creating Wealth
- Credit Checking in Today’s Market
- Covering Your Legal Bases
- Profitable Employment Practices
- Social Networking 101
- How to Rent to Today’s Tenants (Panel)
- Taking Advantage of a Depressed Real Estate Market
- How to Cut Costs and Put More $$$ in Your Pocket
- Solutions to the Water Problem for Owners (Panel)
- Fair Housing Conversation
- Resident Retention Techniques
- and much, much more…
Sep 22, 2009 | No Comments | Sean Mills
Sept. 21 (Bloomberg) — The recovering housing market may be heading for a relapse as President Barack Obama and Federal Reserve Chairman Ben S. Bernanke consider ending support for the source of the global financial crisis.
The Obama administration is studying whether to let a first-time home buyers’ tax credit expire as scheduled at the end [...]
Sept. 21 (Bloomberg) — The recovering housing market may be heading for a relapse as President Barack Obama and Federal Reserve Chairman Ben S. Bernanke consider ending support for the source of the global financial crisis.
The Obama administration is studying whether to let a first-time home buyers’ tax credit expire as scheduled at the end of November. Bernanke and his Fed colleagues may continue talking this week about how to wind down purchases of mortgage- backed securities, according to Peter Hooper, chief economist at Deutsche Bank Securities Inc. in New York. The two programs have helped stabilize real-estate demand, with new-house sales rising 9.6 percent in July from the prior month, the most since 2005.
Ending these efforts may stifle the housing rebound by depressing sales and pushing up both mortgage-backed bond yields and interest rates on home loans, even in the face of the record-low zero to 0.25 percent short-term rates the Fed has engineered, said economist Thomas Lawler. A weaker housing market would likely dampen the economic recovery and undercut shares of builders including Fort Worth, Texas-based D.R. Horton Inc. and Miami-based Lennar Corp., that have risen 40 percent this year, based on the Standard and Poor’s Supercomposite Homebuilding Index of 12 companies.
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Sep 3, 2009 | No Comments | Sean Mills
One of my partners and I were looking very hard at a deal in the Portland area and the biggest stumbling block with the sellers and listing agent was the vacancy rate for the building. Of course they liked a 5% vacancy rate with a building which had an actual YTD vacancy rate of 8.9% [...]
One of my partners and I were looking very hard at a deal in the Portland area and the biggest stumbling block with the sellers and listing agent was the vacancy rate for the building. Of course they liked a 5% vacancy rate with a building which had an actual YTD vacancy rate of 8.9% and current rate approaching 20%. Needless to say we weren’t buyers based on their numbers.
If you want to figure a good rate look at the unemployment rate in the areas you are interested in, for Portland Oregon area that rate is 13.2%. It makes sense vacancies should trail and track the unemployment numbers especially for a blue collar working class building. Well enough of my rant here is an article from the latest issue of Multifamily Executive.-Sean
Rental Owners Report Soaring Vacancies: People Who Lose Homes Move in With Families Instead of Renting Apartments
Aug. 28–Southern Oregon Rental Owners Association reported a 9.4 percent vacancy rate for June, the highest level in the 20 years that the organization has surveyed its members.
“We knew some of our renters couldn’t afford it and moved in with families,” said association manager Roberta Claudson of SOROA, which consists of rental owners with anywhere from a few rentals to hundreds of properties. “We thought it would be balanced out by people who had lost their homes. But apparently, they’ve moved in with families, too.”
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Aug 18, 2009 | No Comments | Sean Mills
This article is from the seeking alpha website, see the attached link:
http://seekingalpha.com
The Housing Crash Isn’t Over: Here’s How to Profit
The US housing market has not hit bottom and, depending on which view you take, has quite some room to move down further. The truth is that we are still in the middle of a historic [...]
This article is from the seeking alpha website, see the attached link:
http://seekingalpha.com
The Housing Crash Isn’t Over: Here’s How to Profit
The US housing market has not hit bottom and, depending on which view you take, has quite some room to move down further. The truth is that we are still in the middle of a historic crash. However, as with such market dislocations, there are very attractive opportunities to invest and make profits if one has capital, patience, expertise, and a good plan in place.
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