May 20, 2013 By mortgage
May 16, 2013 By mortgage
May 12, 2013 By mortgage
May 08, 2013 By mortgage
May 02, 2013 By mortgage
Category Archives: Buying and Selling
May 16, 2013 No comments
The pace of prime borrowers going into foreclosure is accelerating, especially in states with mounting unemployment or property values that saw a big run-up during the housing boom. It’s a marked shift from earlier this year, when foreclosures were driven by defaults on subprime loans. And it has major implications — ravaging the credit scores of borrowers who once had unblemished records and dragging down property values in more affluent neighborhoods.
A luxurious and sophisticated Starwood estate that is private, yet convenient, and meets every discerning individual’s expectations; the property situated at 876 South Starwood Drive Aspen, Colorado, U.S., which boasts breathtaking views of the Aspen, has now been listed for $18.5 million. Described as a ‘paradise’ by the late American crooner John Denver, this sprawling 13,500-sq ft. mansion set on 2 acres along Aspen’s famous Starwood neighborhood comes with everything one could imagine.
Borrower Andrew Niewiarowski, president of Lincoln Park Builders, has gained a $2.6 million loan to acquire the 43-unit Racine Apartments here in the Uptown neighborhood. The property, located at 4712 N. Racine Ave., features fully leased residential units and two vacant retail units. Eric Jones with Aries Capital LLC arranged the financing.
The number of new-home sales across the nation increased in November from both the month and year before, and experts say this is a good sign for the economy. Commerce Department data shows sales of new single-family properties bumped up 4.4 percent monthly and 15.3 percent annually during November, as the pace of sales reached 377,000.
According to Levin Management’s annual pre-holiday retail survey, year-to-date sales are holding steady or are slightly higher as 2011. During October, the North Plainfield-based retail real estate services firm polled store managers within its 95-property, 12.5 million-sq.-ft. shopping center portfolio on these topics.
NEW YORK—Hersha Hospitality Trust, based in Philadelphia, has entered into a purchase and sale agreement to acquire the 205-room Hilton Garden Inn in New York City located at 52nd Street for total consideration of $74 million.
The transaction is expected to close after the developer completes construction in the fourth quarter of 2013.
Formal foreclosures fell for the 21st straight month in July as repossessions on U.S. residential properties ran into additional snags. Lenders completed 53,654 foreclosures during the month,a 1% fall from June and a 21% drop from a year ago, according to RealtyTrac. Bank owned REO activity also fell on an annualized basis in 38 states and the District of Columbia. Some of the biggest drops in foreclosed property sales were in many of the hardest hit states, including Nevada, Virginia, California and Georgia, all of which are non-judicial foreclosure states.
Single family new homes sales rose 7.6% in May to a seasonally adjusted rate of 369,000 units, according to the U.S. Census Bureau. The data reflects the first jump in actual new home sales in three months after disappointing spring home sales soured home builders. The Northeast and South posted a solid jump in sales for the month, with the Northeastern corridor experiencing a 36.7% hike in sales during the month. Sales elsewhere through the nation were inconsistent but still showed growing strength above the past two months.
Glimcher Realty Trust has announced its plans to acquire The Malibu Lumber Yard, an outdoor retail center located in Malibu, Calif. The Malibu Lumber Yard is a two-story, 31,441-sq.-ft specialty retail center located at 3939 Cross Creek Road, off the Pacific Coast Highway.
The purchase price for the center will be approximately $35.5 million with Glimcher Realty Trust expecting to fund the acquisition through availability on its corporate credit facility. The transaction is expected to close later this month.