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Category Archives: Real Estate Market
Pending home sales rose slightly in March, but seem to be leveling off overall, an industry report showed Monday.
The Pending Home Sales Index – an indicator based on contract signings, not closings – rose 1.5 percent in March, according to the National Association of Realtors. That’s 7 percent above levels reported in March 2012, continuing an almost 2-year streak of higher pending homes sales year-over-year.
Miami Beach in Florida, which is known to have celebrities like Matt Damon, Donatella Versace, Dwayne Wade, and Olga Kurylenko living in the city, will have one of the stars selling his home, for a price of $20 million. Matt Damon has put his Miami Beach 12,705 sq ft home on the market, which is a part of the Maravilla estate, looking out to the Biscayne Bay. The property is known for its own private dock, and an exposure to 170-feet of water frontage, making it ideal for a summer home for some indulge in water sports and cruising.
Huntington Bancshares Inc., based in Columbus, Ohio, has hired Renee Csuhran as director of commercial real estate for the bank. She will operate out of the Cleveland office. Before joining Huntington in 2012, Csuhran spent more than 20 years at KeyCorp. in Cleveland, Ohio in various senior-level roles, including executive vice president and director of institutional real estate.
Australia’s second-largest city Melbourne will have the tallest building in the southern hemisphere after approval Monday for a 388-metre apartment and hotel complex. The Victorian state government said Australia 108 would become the world’s 19th tallest building and would be “an outstanding addition to Melbourne’s skyline”.
Deutsche Bank AG closed a $2.075 billion syndicated loan to facilitate Blackstone Group LP’s REO to rental program yesterday. Blackstone, which manages the largest real estate private-equity fund, expanded a credit line to buy single-family homes from $600 million to $2.075 billion, an unidentified source told Bloomberg. Originally, the firm had been trying to increase the loan to $1.2 billion.
There have been numerous signs of a general recovery in the housing market after the significant downturn of a few years ago, but data suggests that a full recuperation is now underway and should continue throughout the year. There should be an appreciable improvement in property values across the top 100 metro areas nationwide in the 12-month period ending Dec. 1, 2013, according to new data from Veros Real Estate Solutions.
NEW JERSEY—Colliers International New Jersey has named 17-year industry veteran Thomas Romano executive managing director to head the company’s Princeton’s office. Prior to joining Colliers International, Romano was a managing principal at Newmark Grubb Knight Frank’s Princeton office. Previously he was a partner in the firm Buschman Partners and GVA Williams Buschman.
New York—A joint venture comprised of Centurion Realty, Imperium Capital and Crown Acquisitions has purchased 120 Prince Street for $20 million. Located between Wooster and Canal Street, 120 Prince Street totals 1,750 sq. ft. of ground-floor retail space and 1,750 sq. ft. of residential space on its second floor.
“Fun for Kids,” “Fun and Hip,” and “Most People Use Public Transportation,” in that order, are the most popular attributes selected in a search tool launched last year by real estate technology firm Robot Workshop, the company announced.
Foreclosures have increased 14% between the second and third quarter of 2011, following five straight quarters where the number of foreclosures has gone down. This increase could dampen the recovery of the American housing market and harm economic recovery for cities where foreclosures rose significantly. Based on data recently released by RealtyTrac, 24/7 Wall St. has identified the 10 metropolitan regions where foreclosures increased by more than 30%.