Enlarge image

Distressed Properties Help Boost U.S. Home Sales

Matthew Staver/Bloomberg

Brian Mowery tours a pre-owned single family home for sale in Fort Collins, Colorado.

Brian Mowery tours a pre-owned single family home for sale in Fort Collins, Colorado. Photographer: Matthew Staver/Bloomberg

Enlarge image

Home Sales

Les Stone/Corbis

A housing development in Charlotte.

A housing development in Charlotte. Photographer: Les Stone/Corbis

Enlarge image

Sales of Previously Owned U.S. Homes Increased in January

Jamie Rector/Bloomberg

Prospective homebuyer Rick Lund tours a house in Newport Beach, California.

Prospective homebuyer Rick Lund tours a house in Newport Beach, California. Photographer: Jamie Rector/Bloomberg

Enlarge image

Existing Homes

Laura Segall/Bloomberg

The Blanford Homes LLC Power Ranch community stands in Gilbert, Arizona.

The Blanford Homes LLC Power Ranch community stands in Gilbert, Arizona. Photographer: Laura Segall/Bloomberg

Sales of previously owned U.S. homes
rose in January to the highest level since May 2010 as investors
took advantage of lower prices to buy distressed properties.

Purchases climbed 4.3 percent to a 4.57 million annual
rate, less than forecast, from a revised 4.38 million pace in
December that was slower than previously estimated, a report
from the National Association of Realtors showed today in
Washington. Distressed properties made up the largest portion of
all purchases since April.

Almost one in four of all transactions was made by
investors. That’s helping to clear the market of unsold
properties and may stabilize prices. While the threat of more
foreclosures risks slowing progress, housing may get a boost
from gains in employment and mortgage rates that are near record
lows.

“I don’t think we’re seeing a full-fledged recovery in
housing,” said Michelle Meyer, a senior economist at Bank of
America Corp. in New York. “Outside of investors and people
wanting to buy distressed properties, the primary housing demand
is recovering much more gradually.”

Distressed sales, comprised of foreclosures and short sales
in which the lender agrees to a transaction for less than the
balance of the mortgage, accounted for 35 percent of the total
in January, up from 32 percent a month earlier.

Investors accounted for 23 percent of purchases last month,
while cash transactions were about 31 percent, about the same as
a year ago.

Stocks fell as the Standard Poor’s 500 Index failed to
hold at an almost four-year high after the reports and data that
showed struggling economies in Europe and China. The SP 500
dropped 0.4 percent to 1,357.06 at 12:33 p.m. in New York.

European Economy

In Europe, services and manufacturing unexpectedly shrank
in February. A euro-area composite index based on a survey of
purchasing managers in both industries dropped to 49.7 from 50.4
in January, London-based Markit Economics said in an initial
estimate today.

In China, the preliminary 49.7 reading of a manufacturing
index from HSBC Holdings Plc and Markit compared with a final
48.8 in January.

China is cutting banks’ reserve requirements from Feb. 24
to support an economic expansion that Nomura Holdings Inc.
estimates may be 7.5 percent this quarter, the least since the
global financial crisis. In today’s report, a measure of export
orders fell to an eight-month low.

The median forecast in a Bloomberg News survey for January
existing-home sales called for a rise to 4.66 million. Estimates
of the 74 economists surveyed ranged from 4.4 million to 4.91
million after a previously reported 4.61 million pace in
December.

Last Year

Existing-home sales, tabulated when a contract closes,
climbed to 4.26 million last year from 4.19 million in 2010.
Demand peaked at 7.1 million in 2005 during the housing boom. In
2008, sales totaled 4.1 million, the least since 1995.

The number of previously owned homes on the market dropped
to 2.31 million, the fewest since March 2005. At the current
sales pace, it would take 6.1 months to sell those houses, the
lowest since April 2006, down from 6.4 months in December.

The median price of a previously-owned home fell 2 percent
to $154,700 from $157,900 in January 2011, today’s report
showed. The median price dropped to $166,100 last year, the
lowest since 2002, from $172,900 in 2010.

Single-Family Homes

Sales of existing single-family homes increased 3.8 percent
to an annual rate of 4.05 million. Purchases of multifamily
properties, including condominiums and townhouses, rose 8.3
percent to a 520,000 pace.

Purchases rose in all four U.S. regions, led by gains of
8.8 percent in the West and 3.5 percent in the South.

The fourth-warmest January on record may have helped bring
out homebuyers. The National Oceanic and Atmospheric
Administration reported the average temperature was 36.3 degrees
Fahrenheit (2.39 degrees Celsius), 5.5 degrees above the 1901-
2000 long-term average.

The favorable conditions helped spark Home Depot Inc. (HD)’s
biggest sales gain since the first quarter of 2004. The world’s
largest home-improvement retailer said yesterday that receipts
at stores open at least a year climbed 5.7 percent in the three
months ended Jan. 29. Net income increased 32 percent, the
Atlanta-based company said.

Today’s housing report showed contract cancellations were
reported by 33 percent of the group’s members in January, the
same as a month earlier.

Labor Market

One asset for the market has been the improvement in
employment. The jobless rate fell in January to a three-year low
of 8.3 percent, and payrolls rose by 243,000 workers. Employment
growth has accelerated in each of the past three months.

Greater affordability is also supporting home demand. The
Realtors group’s measure of whether households earning the
median income can afford a median-priced house at current
interest rates reached record levels in the last three months of
2011.

Policy makers are working to help distressed homeowners.
The top five mortgage lenders this month reached a $25 billion
settlement with 49 states and the U.S. government over the use
of faulty paperwork in foreclosures.

Federal Reserve Chairman Ben S. Bernanke said the central
bank’s efforts to spur growth are being blunted by impediments
to mortgage lending, and he called for more steps to heal the
housing industry.

“The economic recovery has been disappointing in part
because U.S. housing markets remain out of balance,” Bernanke
told homebuilders on Feb. 10 in Orlando, Florida. “We need to
continue to develop and implement policies that will help the
housing sector get back on its feet.”

The foreclosure crisis is unlikely to subside any time
soon. Owners of more than 14 million homes are in foreclosure,
behind on their mortgages or owe more than their properties are
worth, said RealtyTrac Inc., a property-data company in Irvine,
California.

To contact the reporter on this story:
Shobhana Chandra in Washington at
schandra1@bloomberg.net

To contact the editor responsible for this story:
Christopher Wellisz at
cwellisz@bloomberg.net

• LinkedIn
• Google +1

• 
  COMMENTS

• Print

Please enable JavaScript to view the comments powered by Disqus.

Article source: http://www.bloomberg.com/news/2012-02-22/sales-of-previously-owned-u-s-homes-increase-to-4-57-million-annual-rate.html

SAN DIEGO, Feb. 22, 2012 /PRNewswire via COMTEX/ –
Joy Bender, a San Diego short sale realtor and a Certified Distressed Property Expert (CDPE), educates thousands of investors regarding their overleveraged underperforming assets.

Indicating the importance of evaluating equity position for non-owner occupied homes, San Diego short sale realtor Joy Bender has launched a campaign to educate investors on the potential solution to an upside-down rental property.

Bender, who currently works as a short sale realtor in San Diego and is affiliated with Trinity Homes and Investments, observes that 29.7% of all California homeowners are in an upside-down equity position and an additional 4.6% at a near negative equity position. Many of these properties are vacation or investment properties.

“As the April 17th tax filing deadline nears, investors need to analyze their equity position in conjunction with potential tax implications,” Bender said. “It is important to evaluate your investment property with the same financial perspective as an underperforming stock or mutual fund. Many owners of rental property are not only in a negative equity position, but they also are ending up with a monthly shortfall from the rental income. Oftentimes when investors finally realize throwing good money after bad is irrational they contemplate a short sale or foreclosure.”

The Mortgage Forgiveness Debt Relief Act does not protect investors from tax liability. In the event of a short sale or foreclosure, the IRS considers the bank’s loss as income for the homeowner. Real estate commissions, delinquent taxes and association dues, and closing costs are also included in the loss. The bank issues a 1099-c for the difference. A short sale is the best choice because in most cases it will yield 12-25% more money to the bank than a foreclosure. Therefore, the 1099-c will be 12-25% lower. Bender said, “The longer you wait to take action the further your property may depreciate, subsequently increasing your 1099-c income.”

After an investment property short sale it is important to significantly reduce any income tax liability. In some cases tax provisions can be combined that permit the use of the Business Property Exclusion. The Business Property Exclusion allows a real business loss to reduce real income and real income tax owed. “Investors also need to consider potential capital gains. It is quite common that the mortgage exceeds the value of the property; however, the original acquisition cost was much lower,” Bender advises. “It’s always vital to consult with an attorney and tax advisor regarding potential recourse and tax liability.”

About Joy Bender:

Joy Bender is a San Diego short sale realtor and a Certified Distressed Property Expert (CDPE). Her real estate articles have been published nationwide in over 358 newspapers, online news services, magazines, television stations and radio stations. She currently provides real estate solutions for distressed homeowners facing foreclosure or homeowners opting for a strategic short sale. For a free property effective cost analysis after deductions, visit
http://www.luxurysocalshortsale.com or call her direct line at (760) 212-2717.

To read Joy Bender’s client testimonials, visit
http://maps.google.com/maps/place?hl=engeorestrict=input_srcid :887e23950ec59d78dtab=2.

This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at
http://www.ereleases.com .

SOURCE Joy Bender

Copyright (C) 2012 PR Newswire. All rights reserved

Article source: http://www.marketwatch.com/story/certified-distressed-property-expert-joy-bender-educates-investors-regarding-their-overleveraged-underperforming-assets-2012-02-22

OXFORD, Miss., Feb 22, 2012 (GlobeNewswire via COMTEX) –
FNC’s latest Residential Price Index(TM) (RPI), released Wednesday, indicates that U.S. residential property values declined in December amid signs of continued improvement in the job market and economic growth. With sales of distressed properties comprising a large portion of overall home sales, prices on non-distressed sales continued to reflect the downward pressure distressed sales have on underlying property values. December marks the fifth consecutive month-to-month declines and sends home prices down 3.5% from a year ago. Challenges underlying the distressed housing sector will continue to restrain the housing recovery.

Based on the latest data on non-distressed home sales (existing and new homes) through December, FNC’s national RPI shows that single-family home prices fell in December to a seasonally unadjusted rate of 0.7%. As a gauge of underlying home value, the RPI excludes sales of foreclosed homes, which are frequently sold with large price discounts reflecting poor property conditions. The RPI is the industry’s first hedonic price index − built on a comprehensive database blending public records with real-time appraisals of property and neighborhood attributes. One of the key advantages of the RPI is its ability to capture underlying home price trends by modeling observed sales prices as being determined by property and neighborhood attributes.

All three RPI composites (the National, 30-MSA, and 10-MSA indices) show month-to-month declines in December, ranging from -0.7% at the national level to -1.1% in the nation’s top 10 housing markets.

The indices’ year-to-year trends generally show the pace of price declines slowing. The national RPI indicates that December home prices declined at a seasonally adjusted rate of 3.5%, the smallest year-to-year declines since May 2010 when home prices rebounded under the federal homebuyer tax credits program. The year-to-year declines at the nation’s top housing markets, as indicated by the 30- and 10-MSA composites, have also decelerated to their slowest pace.

Among the individual markets tracked by the FNC 30-MSA composite index, seven showed a positive month-to-month change in December: Baltimore, Charlotte, Cincinnati, Detroit, Houston, Miami, and Tampa. The largest monthly gain occurred in Houston where home prices were up again in December by 2.5% after rising 1.6% in the previous month. Baltimore, Charlotte, Detroit, and Tampa also recorded higher prices in both November and December. Atlanta, on the other hand, continues to experience rapid price declines — averaging 2.0% per month since August. December home prices were down 1.4%, 2.2%, 1.7%, 1.5%, and 1.9% in Chicago, New York, San Diego, San Francisco, and St. Louis, respectively.

Year to date, the Detroit, San Francisco, and Denver markets ended 2011 with modest growth, rising 3.3%, 3.0%, and 1.9%, respectively. In 2011, Atlanta had the worst record of price declines among the country’s major housing markets, down 10.2% year-to-date. It is followed closely by Las Vegas where home prices fell nearly 10% during the year.

On a seasonally adjusted year-to-year basis, Detroit and San Francisco again delivered the best price appreciation, rising 5.7% and 4.5%, respectively. Home prices in Boston, Denver, and Houston experienced smaller appreciation as well. Meanwhile, Las Vegas, Atlanta, and Tampa continue to rank among the worst cities for existing homeowners who continue to see double-digit declines in their property values.

Peak to date, more than half of the component markets in the FNC 30-MSA composite index have lost more than a third of the market value they had attained. Moreover, homeowners in nearly a third of the component markets have seen property values falling more than 50% off the peak levels. Leading the declines are Las Vegas (62.9%), Phoenix (59.5%), Riverside (59.0%), Sacramento (57.6%), Orlando (57.1%), and Miami (55.1%). At the end of 2011, only homeowners in Houston and San Antonio have seen their property values rising above the peak levels.

To interview any of FNC’s mortgage industry experts, contact:
Bill Dabney, manager of public relations
FNC, Inc.
Phone 662/236.8304
bdabney@fncinc.com

About FNC, Inc.

Since 1999, FNC has pioneered real estate information technology, automated appraisal ordering, tracking, documentation and review for lender and servicer compliance with government regulations. FNC’s platforms are in production at seven of the 10 largest U.S. mortgage lenders and provide value to large and small lenders with reduced costs and more efficient loan processing. With collateral management platforms, data and analytics, FNC provides advanced insight into the property backing a loan from origination to capital markets. Visit FNC online at
www.fncinc.com .

The FNC, Inc. logo is available at

http://www.globenewswire.com/newsroom/prs/?pkgid=9799

This information was brought to you by Cision

http://www.cisionwire.com

http://www.cisionwire.com/fnc/r/fnc-rpi–december-residential-property-values-decline-0-7- ,c9223748

The following files are available for download:

This news release was distributed by GlobeNewswire,
www.globenewswire.com

SOURCE: FNC

          wkr0001.pdf   PDF
          [Image]       FNC's National RPI
          [Image]       FNC Index Trends
          [Image]       FNC 30-MSA Composites

(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.

Article source: http://www.marketwatch.com/story/fnc-rpi-december-residential-property-values-decline-07-2012-02-22

FREEHOLD, N.J., Feb. 21, 2012 — /PRNewswire/ – Monmouth Real Estate Investment Corporation (NYSE: MNR) announced that it will be presenting at Sidoti Company’s Sixteenth Annual New York Institutional Forum on Monday, March 19, 2012.  The Forum will be held at The Grand Hyatt in New York City.

Eugene W. Landy, President, and Michael P. Landy, Chief Operating Officer, will present an overview on Monmouth followed by a question and answer session.   The conference begins at 8:00 a.m. ET.  Monmouth’s presentation will be available at the company’s website www.mreic.com (from the homepage, select the Home tab, then Presentations and Documents) directly following the conference.

Monmouth Real Estate Investment Corporation, which was organized in 1968, is a publicly-owned real estate investment trust specializing in net-leased industrial properties subject to long-term leases primarily to investment grade tenants.  The Company’s portfolio consists of sixty-eight industrial properties and one shopping center located in twenty-five states.  In addition, the Company owns a portfolio of REIT securities.

SOURCE Monmouth Real Estate Investment Corporation

Article source: http://www.bradenton.com/2012/02/21/3891918/monmouth-real-estate-investment.html

RYE, N.Y., Feb 22, 2012 (BUSINESS WIRE) –
Despite a prolonged downturn in the housing market, real estate is still
the best long term investment, according to 84% of respondents in
OwnAmerica’s recent survey on real estate investing. Comparatively,
stocks/mutual funds, bonds and savings accounts were ranked best by only
9.9%, 4% and 2%, respectively.

Among the respondents who have invested in real estate, 81.6% say they
have made money and 82% expect real estate values to “definitely”
appreciate over the next ten years. (53.5% believe property values will
definitely increase over the next five years.)

“The most significant outcome of this survey is the overwhelming
confidence in a long-term recovery. People understand now, more than
ever, that building wealth in real estate takes time.” says OwnAmerica
CEO Gregory Rand.

Investors cited Florida (15.4%), California (11%) and Virginia (8.8%) as
the states in which they are most interested in investing. Others to
make the list include: Colorado, North Carolina, New York, New Jersey,
Pennsylvania, Nevada and Arizona.

“The unique nature of this market today has created a perfect scenario
for investors — dropping prices and rising rents,” notes Rand. “As a
result, there are hundreds of cities and towns across the U.S. that have
become positive cash flow markets, meaning the rents exceed the costs to
own. Investors can buy, earn double digit returns just on the rent and
gain the appreciation when it comes.”

About:

OwnAmerica.com is the leading provider of investor education, technology
and marketing services to the residential real estate industry. CEO,
Greg Rand, is the host of Rand on Real Estate on WABC Radio in
New York, Where to Invest Now on the FOX Business Network, Dialogue
on the Street of Wall Street Multimedia in China, author of Crash
Boom! and 20-year residential real estate industry veteran.

For more information, visit
www.OwnAmerica.com .

SOURCE: OwnAmerica

        Media:
        For OwnAmerica
        Carol Bloom Stevens, 914-251-1500 ext 12
        carol@msco.com

Copyright Business Wire 2012

Article source: http://www.marketwatch.com/story/real-estate-still-best-long-term-investment-according-to-ownamerica-survey-2012-02-22

AP

• Spring Selling Season Should be Positive Says Zillow Chief Economist
• How to Break Up With Your Real Estate Agent
• Patricia Arquette Sells Vine-Covered Home For Loss
• 30-Year Fixed Mortgage Rate Rises to Highest Rate in Four Weeks
• Zillow Forecasts 4.0% Yearly Decline in Case-Shiller Index

Lower home prices and mortgage rates are causing many people to consider taking the real estate investment plunge. But as with any big financial investment, what may be a good strategy for some, may be harmful for others.

Something to keep in mind: If you are planning on trading cash in lower risk CDs or bonds for real estate, you are trading into a dramatically higher risk asset. However, if if you do decide to jump into the investment property game, you should make sure to vet the property investments you plan to acquire to better increase the chances that the real estate you buy will increase your net wealth, not decrease it.

This is, of course, assuming you already understand the most important item in investing: making sure the property you are buying is cash-flow positive based on conservative estimates, and provides you a fair rate of return on your investment. Read more about estimating cash-flow on properties here.

What other items and issues does a buyer need to review when buying an investment property?

Home Inspection

Most people know to always have a home inspection done when they are buying property. While a competent home inspector will note all the items working or not, the inspector is not pricing out the costs to get all those items repaired, nor other items like painting, flooring, etc. that you might plan to have done. It’s your job to put together a list of all the work and get with your contractor to price them out. Put that number into your financial analysis and note that properties in poor condition rarely sell at a large enough discount to compensate for all rehabilitation work that needs to be done!

Title Abstract and Insurance

When you buy property, a title policy protects you in case there is a title problem, like the seller’s ex-fiancée was a part owner in the property but didn’t sign off on the sale. In this case, it is the title insurer’s problem and they will cover costs to defend you and settle any dispute, up to the policy maximum limit, unless the title issue was “Excluded” from the title policy.

The Schedule of Exclusions will note issues the title insurance policy will not cover, like recorded easements. It is vital to review the information there as well as in the title abstract. If there is a title issue that was “excluded” from coverage, it is your problem, not theirs.

Survey, Plats, Legal Description

Your land, lot, or condominium — plus parking spaces and storage — will also have a defined legal description of what you own. There may be a county plat showing it and/or you might want to have a survey done of the lot lines. Either way, you should walk the property and compare when you physically see to what is on the plat/survey to make sure you are comfortable that no neighbors’ fences, driveways, etc. are encroaching on your lot. If it is a condominium, make sure you review the recorded rights to your interior space, patios, parking spaces, storage, etc.

Homeowners Association

If you are buying a property in a common interest development like a condo or town home, you are not only buying your individual unit, you are buying into the larger entity. Thus, you are responsible for your share of the cost to pay for those, via HOA fees. There are many many risks related to HOAs, a few range from unfunded reserves for repairs and replacements to litigation and water issues. You can do analysis to better reduce your risk of buying into an HOA that is in a disastrous state, but you have to do the hard work of doing the proper due diligence.

Financing

You also need to make sure you are getting a fair deal on your mortgage financing. Just getting one bid from one lender is not good enough. Shop around to get pricing from at least two lenders and carefully compare those mortgage bids to determine which one gives you the best fees versus interest rate deal. It’s not easy to do as the Good Faith Estimate forms are quite complicated, but that’s no excuse for not doing the proper analysis.

Insurance

Lastly, do you have the proper type and amount of insurance coverage in place? Make sure to sit down with your insurance agent and determine what you need to be adequately covered. Look into umbrella policies as well as earthquake, interior condominium HO-6 policies and any other coverage you need. Pick your real estate agent‘s brain so you have the proper coverage for your risks.

A real estate investment, whether rental property or a home, is the largest, most complicated, and riskiest purchase you will ever make. Experienced investors know how to better reduce their exposure with the proper due diligence; you need to make sure you know how to do the proper steps too!

It’s your money, and your retirement, at risk. You don’t want to find out, after disaster strikes, that you could have reviewed, analyzed, researched and done the hard work upfront to have protected yourself and avoided that issue from ever happening in the first place.

Leonard Baron, MBA, CPA, is a San Diego State University Lecturer, a Zillow Blogger, the author of several books including “Real Estate Ownership, Investment and Due Diligence 101 – A Smarter Way to Buy Real Estate”, and loves kicking the tires of a good piece of dirt! See more at ProfessorBaron.com.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

This post originally appeared at Zillow.

DON’T MISS: These Are The 10 Most Common Mistakes Investors Make

Article source: http://www.businessinsider.com/what-to-look-at-before-investing-in-that-rental-2012-2

NEW YORK, Feb. 21, 2012 /PRNewswire via COMTEX/ –
Michael Shah, principal and chief executive officer of DelShah Capital, LLC (DelShah), the real estate investment, debt acquisition, development and management company announced they have resolved two formerly bankrupt New York City properties and brought positive conclusions to them in the last twelve months.

According to Mr. Shah, “Every distressed opportunity is different. And success is defined in different ways. Here are two examples of positive outcomes from bankruptcies completed in the past year in which the end result was ownership of the asset and great returns on our credit investments. DelShah excels at processing complicated legal and financial situations.”

In Harlem, DelShah Capital has just purchased 101 West 126th Street through a New York State Bankruptcy Court ordered sale for $11,240,000. In 2010, a DelShah affiliate purchased the non-performing senior mortgage note for the 32-unit multi-family apartment building, with a ground floor commercial space, at the corner of West 126th Street and Lenox Avenue. DelShah was poised to purchase the property in May 2011 when the debtor declared bankruptcy. DelShah was able to reach agreement with the debtor and junior creditors, resolve the bankruptcy and take title in just 9 months.

From March 2011 through the present, DelShah Management undertook a full renovation to the building with complete upgrades to over 50% of the units. Prior to DelShah’s involvement the building was at less than 60% occupancy under the control of a court appointed receiver, but it is now fully occupied with an increase in the rent roll from $635,000 to over $1,000,000 annually. The commercial space has been leased to Sun of May, LLC for use as a food and beverage venue scheduled to open in Spring 2012.

At 639 West 46th Street, the former home of H H Bagels, in Manhattan, DelShah Capital purchased the senior note in May 2010 and began a foreclosure on the building. Helmer Toro, the owner of 639 West 46th Street, then filed for bankruptcy. DelShah and other creditors converted the case into Chapter 7 liquidation. In February 2012, the property was sold to the second mortgagee MKF Management and DelShah Capital received payment in full on its senior lien position, inclusive of default interest at 24%.

Michael Shah stated, “These deals exemplify DelShah’s ability to resolve conflict among lenders and owners in an expeditious manner which then benefits the property and increases its value.”

About DelShah Capital, LLC DelShah Capital is a full-service real estate and CRE debt acquisition, development and management company that owns and operates 1,750 multifamily units as a part of its 2-million square foot commercial and residential real estate portfolio that is spread through the five boroughs of New York City. DelShah has been very active in purchasing non-performing CRE loans in the New York region, having completed $40 million in acquisitions since the recession began. The company has expertise in identifying, financing, managing, rebranding and exiting those investments on behalf of institutional clients and for its own portfolio.

DelShah specializes in the purchase and foreclosure of non-performing commercial mortgages, including resolving bankruptcies and complex litigation on the acquisition side. The firm integrates rigorous financial and legal structuring with professional real estate asset management. This combination of disciplines makes DelShah Capital a unique operating partner. For more information on DelShah’s capabilities please contact, 212-213-8777 or visit
www.delshah.com .

RUBENSTEIN PUBLIC RELATIONS Press contact: Eve McGrath, Telephone: 212-843-8490, 646-258-0026Email: emcgrath@rubensteinpr.com

SOURCE DelShah Capital, LLC

Copyright (C) 2012 PR Newswire. All rights reserved

Article source: http://www.marketwatch.com/story/delshah-capital-resolves-two-new-york-city-property-bankruptcies-2012-02-21

ShareThis



Email


PDF


Print

This technology will change the way the real estate industry views the broker price opinion (BPO) process, allowing our field partners to complete their reports in a more efficient and thorough manner.

Lake Mary, FL (PRWEB) February 21, 2012

JVI Solutions LLC (JVI) – a nationwide appraisal and inspection services provider and Active Data Technologies Inc. (ActiveDT) – the parent company of Foreclosure.com, which is America’s largest marketplace for distressed property data – today announced that the companies have forged a technology partnership.

The joint venture will soon introduce a proprietary automated home appraisal and Broker Price Opinion (BPO) system that integrates interactive analytical data into a mobile platform. The new system will provide real estate professionals with an easy-to-use, modern mobile system (a desktop version will also be available) that can be accessed from their smart phones, tablets and other portable devices, while performing their valuations.

The JVI/ActiveDT platform is designed to improve data quality, as well as eliminate common entry errors and the need to communicate with the evaluator, which, in turn, will minimize costly errors and the time it takes to conduct business. Furthermore, the report will include all support data that was used or discarded in the selection of viable comparables. This will enable the client to perform their own Quality Assurance (QA) assessment, which will have significant impact on risk management costs and result in additional savings.

In short, this new technology will have a significant impact on reducing time and ensuring measurable cost savings, while improving data and valuation quality exponentially.

JVI and Active Data Technologies Inc. will provide a private glimpse of this new technology, which will revolutionize the way Appraisals and BPOs are completed, with select industry partners.

“JVI is thrilled to work with the team at Active Data Technologies,” said Ron Nation, President and Chief Executive Officer for JVI Solutions. “This technology will change the way our industry views the price opinion process, allowing our field partners to complete their reports in a more efficient and thorough manner.”

Nation explained that Active Data Technologies Inc. was the perfect partner choice because it shares the same vision of revolutionizing the property valuation industry. The company is a proven leader in the distressed real estate marketplace with its proprietary online offer management and asset management software, among many other flexible lender/servicer-friendly services.

“This is exactly what the industry needs right now,” said Brad Geisen, President and Chief Executive Officer (CEO) for Active Data Technologies Inc. “JVI is the right Appraisal Management Company partner to deploy our groundbreaking technology. We have seen how technology has created dynamic changes in other industries and have no doubt that this partnership will be a game changer for the mortgage and real estate industries.”

Active Data Technologies Inc. (the parent company of Foreclosure.com) will be at the MBA Conference in Orlando, Fla., from Feb. 21-23, 2012. To schedule a private glimpse into the new technology at the conference or at any other time please contact Erin Pruett at (321) 257-0709 or email at epruett(at)jvisolutions(dot)com.

About JVI Solutions

JVI Appraisal Division, LLC is a full-service nationwide valuation company with a host of traditional and non-traditional appraisal products. JVI embraces a culture that is committed to superior customer service, integrity, ongoing training programs, leading edge technology and cultivating the best talent while delivering quality products to our clients. JVI is an appraiser-owned and operated company founded in 1991 by Ron L. Nation, MAI, SRA. For nearly two decades, JVI has also specialized in the valuation of REO properties and large volume projects. The company’s extensive experience in valuing distressed assets provides effective client solutions that span across their entire portfolio of assets. For more information on JVI, visit http://www.JVISolutions.com or call (877) 531-5333.

About Active Data Technologies Inc.

Active Data Technologies Inc. is the pre-eminent technology leader in the online distressed real estate disposition/management marketplace, forging strong partnerships with major, mid-sized and minor financial institutions throughout the United States. We create custom Real Estate-Owned (REO) websites and provide a powerful around-the-clock marketing program to ensure maximum property exposure, engaging more than 6 million buyers and investors throughout the nation each month. We also develop easy-to-use backend offer management systems that servicers, lenders and other large real estate portfolio owners can seamlessly integrate into their websites to facilitate, manage and expedite the sale of REO inventory nationwide for top dollar. Headquartered in Boca Raton, Fla., Active Data Technologies Inc. powers several major real estate websites, including Foreclosure.com and QuickSale.com, among others.

###

Share:

Article source: http://www.prweb.com/releases/prweb9214843.htm

Boise, ID (PRWEB) February 21, 2012

Boise, Idaho has for many years been gaining notoriety as one of the best cities in America to Live, Work, and Play. It has been recognized as a safe and family friendly city plus a great place for empty-nesters, entrepreneurs and for those who are seeking an active outdoor lifestyle. Of course, this is an easy place to get out and explore with the Boise Greenbelt following the Boise River, miles of trails in the Boise Foothills and many other attractions like Bogus Basin Ski Resort, Lucky Peak Reservoir and the Snake River.

Boise Idaho Real Estate has also been making the news. Boise has been noted as one of the worst cities for distressed properties but also recently as a Top Turnaround City. 2011 was an improvement in Boise Real Estate with increased activity in Boise Homes for Sale, decreasing inventory and increasing home values. For the first time in several years, people are agreeing that the bottom of the market has passed and seeing an increase in home buyer inquiries and interest.

Trey Langford, Founder of http://www.BuildIdaho.com, interviews Boise new home buyers regularly and has found four common themes: family, lifestyle, retiring and from out of state. It is most common that new homes buyers are following family and many are moving to be close to grand kids. Secondly, most people were familiar with Boise before they moved. They have visited before or several times over the years and just fell in love with the area. Lifestyle seems to be a common theme for everyone in Boise because there is so much open space and availability to take advantage of it. The third trend Trey Langford notes is that most people buying new homes are retired or semi-retired. Many Boise Real Estate Agents and Boise Idaho Home Builders talk about the trend of Empty Nesters as a primary target market. Lastly, it seems common to talk to someone who is from out of state. Most people are from California but the Northwest seems to be the general vicinity many are migrating from.

New construction in Boise seems to be a very popular choice as the market changed forcing lower prices including building lots, trades, building materials, retail products and other services. Part of this was because new homes were were competing with distressed property and the only way to compete was lower prices.

The Boise Idaho Metro area consists of several outlying cities including Meridian, Eagle, Star Kuna, Middleton, Nampa, and Caldwell. Eagle and Meridian, both about 8 miles west and southwest of Boise were the most popular areas for new-home buyers, based on how people spent their dollars.

Best Selling New Communities-

source: Intermountain MLS

Boise Idaho Best Selling Subdivisions in 2011

Harris Ranch: 48 Sales. Home Sizes- 1,806 to 3,611 sq ft. Average Price- $343,709

River Heights: 25 Sales. Home Sizes- 2,035 to 3,375 sq ft. Average Price- $356,280

Hazelwood Village:     20 Sales. Home Sizes- 1,449 to 2,455 sq ft. Average Price- $194,969

Bridgeview: 19 Sales. Home Sizes- 1,209 to 3,586 sq ft. Average Price- $132,116.

Solaire: 18 Sales. Home Sizes- 1,400 to 2,181 sq ft. Average Price- $192,148

Hidden Springs: 14 Sales. Home Sizes- 2,191 to 3,145 sq ft. Average Price- $308,492

Meridian Idaho Best Selling Subdivisions

SpurWing Greens: 30 Sales. Homes Sizes- 2,170 to 3,158 sq ft. Average Price-     $332,681

Bridgetower: 26 Sales. Home Sizes- 1,994 to 3,586 sq ft. Average Price- $275,880

Paramount: 25 Sales. Home Sizes- 1,442 to 3,642 sq ft. Average Price- $270,182

Tuscany (Messina Meadows). 23 Sales. Home Sizes- 1,876 to 3,048 sq ft. Avg Price- $271,025

Saguaro Canyon: 22 Sales. Home Sizes- 2,155 to 3,055 sq ft. Average Price- $293,538

Tustin: 19 Sales. Home Sizes- 1,416 to 3,730 sq ft. Average Price- $185,022

Chesterfield: 17 Sales. Home Sizes- 1,209 to 3,586 sq ft. Average Price- $145,888

Hightower: 14 Sales. Home Sizes-     1,222 to 1,910 sq ft. Average Price- $163,570

Red Feather: 14 Sales. Home Sizes- 1,620 to 2,602 sq ft. Average Price- $236,016

Tuscany: 13 Sales. Home Sizes- 1,970 to 2,987 sq ft. Average Price- $284,123

Alpine Pointe: 12 Sales. Home Sizes- 2,013 to 2,753 sq ft. Average Price- $307,071

Eagle Idaho Best Selling Subdivisions

Lakemoor: 16 Sales. Home Sizes- 2,155 to 3,708 sq ft. Average Price- $423,495

River District: 6 Sales. Home Sizes- 1,722 to 2,594 sq ft. Average Price $327,284

The Shores: 6 Sales. Home Sizes- 3,063 to 3,970 sq ft. Average Price- $531,758

Cabra Creek: 4 Sales. Home Sizes- 1,959 to 2,785 sq ft. Average Price- $270,520

Corrente Bello: 3 Sales. Home Sizes- 2,474 to 3,300 sq ft. Average Price- $401,833

Senora Creek: 3 Sales. Home Sizes- 1,656 to 3,660 sq ft. Average Price- $267,301

Locate Eagle Idaho New Subdivisions, Homes for Sale Building Lots

View more Subdivision Reports- http://www.buildidaho.com/Idaho_Subdivisions/Subdivision_News_and_Updates/

Top Boise Idaho Home Builders

CBH Homes: 277 New Homes Sales

Tahoe Homes: 66 New Homes Sales

Boise Hunter Homes: 64 New Homes Sales

Coleman Homes, LLC: 61 New Homes Sales

Brighton Homes: 55 New Homes Sales

Hubble Homes, LLC: 48 New Homes Sales

D.R. Horton, Inc. : 28 New Homes Sales

Hayden Homes LLC: 27 New Homes Sales

Berkeley Building Company: 26 New Homes Sales

Ted Mason Signature Homes: 24 New Homes Sales

James Clyde Custom Homes: 23 New Homes Sales

HFS Homes, LLC: 21 New Homes Sales

Eaglewood Homes: 19 New Homes Sales

Ninety Degrees Construction: 16 New Homes Sales

Don Young: 14 New Homes Sales

Blackstead Building Co.: 12 New Homes Sales

Paradigm Development:     11 New Homes Sales

Biltmore Company: 10 New Homes Sales

View more Idaho Home Builder and New Construction Reports- http://www.buildidaho.com/Homes_for_Sale/Real_Estate_and_New_Construction_Reports/

If you are relocating and searching Boise Idaho Homes for Sale or researching Boise Idaho Home Builders this should give you some idea about the local new construction trends.

For more information visit Boise Idaho’s Real Estate Guide to New Homes- Build Idaho

About Build Idaho

BuildIdaho.com is a local real estate resource used by home buyers and local real estate professionals. The website is a guide to locating new subdivisions, researching Idaho home builders and find homes and building lots for sale. The resource not only tracks the Boise Real Estate Market but provides insights into custom homes and other constructive advice.

# # #

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/2/prweb9202230.htm

Article source: http://www.seattlepi.com/business/press-releases/article/Boise-Idaho-Real-Estate-Report-Best-Selling-3347142.php

By Polly Hui

HONG KONG (MarketWatch) — LaSalle Investment Management is seeing “interesting investment opportunities” as cash-tight European banks dump property-related loan assets in the Asia-Pacific region to boost their capital reserves, the global head of the real-estate investment firm told Dow Jones Newswires.

For the European banks, which haven’t been huge players in the Asia lending market, selling their non-core assets such as their loans extended in the region could be one of the easiest ways to return capital back home.

“A lot of these banks have to shrink their asset base to meet the capital requirements, [and] it’s much easier to sell a loan in Australia or Hong Kong than to sell a loan in Spain today, let alone Greece. So that’s creating interesting opportunities for us,” Jeff Jacobson, LaSalle’s global chief executive, said.

For example, Jacobson said, many European banks are ready to sell a lot of “unrewarded, over-leveraged” assets in Japan, where economic growth has remained stagnant, at attractive discounts.

LaSalle, an independent unit of U.S.-listed real-estate group Jones Lang LaSalle Inc.


/quotes/zigman/162927/quotes/nls/jll JLL
-1.29%



, manages US$48 billion in assets, including $12 billion in real-estate related listed securities. The remaining $36 billion is directly invested in real-estate projects across the U.S., Europe and Asia, out of which about 25%, or $8.9 billion, is invested in Asia-Pacific.

Going forward, Jacobson said he hopes to raise the proportion of LaSalle’s direct investment portfolio in Asia to 35% in five years, and he expects China to eventually replace Japan as its core investment market in the region. Currently, more than half of the firm’s direct investments in the region go to Japan, while China accounts for only 4%.

Jacobson said global investors remain risk averse for now and still turn to London as their “first port-of-call” for real-estate investments, followed by markets such as Paris, Frankfurt and New York in the West, and Hong Kong and Australia in the East.

He said China isn’t yet a core market for foreign investors due to its political and tax policy risks. But he noted the situation would change “as capital flows in and out of China become more relaxed, as transparency improves and as more Chinese institutional investors [emerge].”

The chief executive expects the number of Asian investors, who currently account for around 10%-15% of LaSalle’s institutional investors, to increase dramatically over time.

Jacobson also said the group is planning to boost its investments in three- and four-star hotels in Asia to tap the growing demand for quality, reasonably-priced accommodation in the region, a result of increasingly robust tourism and business travel.

/quotes/zigman/162927/quotes/nls/jll

Add JLL to portfolio

JLL

Article source: http://www.marketwatch.com/story/lasalle-sees-opportunity-in-sales-of-asia-loans-2012-02-21