These comments are by the Urban Land Institute and Sam Zell regarding the “bailoutâ€? or “rescueâ€? bill just approved by Congress and signed by President. They were published in “Feedblitzâ€? on September 26, 2008 ULI’s Analysis of the Bailout I found this commentary very compelling. Does this bailout just help Wall Street? If the Treasury buys bonds–including CMBS bonds–will that do anything to help the end borrower at all? Who is actually getting bailed out here? I’ve heard a lot of support for the bailout from various forces in commercial […]
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MANHATTAN WON’T AVOID PROPERTY CRUNCH
September 23, 2008 in General R.E.
Manhattan has had a reasonably healthy housing market through the national housing crunch but now it appears that some of the more recent turmoil in the economy is having an affect on the housing markets there. This could affect values for both single family and multi family housing in Manhattan. MANHATTAN WON’T AVOID PROPERTY CRUNCH Wall Street Journal – September 22, 2008 – by Liam Denning When it comes to property prices, that strip of rock just south of the Bronx is often perceived as invincible. Across the U.S., house […]
INTEREST RATES DECLINE
September 10, 2008 in General R.E.
A VERY RECENT (TODAY) ARTICLE ABOUT FALLING INTEREST RATES FOR MORTGAGE LOANS AND PERDICTING FURTHER RATE DECREASES AS A RESULT OF THE TAKEOVER OF FANNIE MAE AND FREDDIE MAC Mortgage Rates Decline Over Labor Day Week but Real News Should Come this Week MORTGAGE NEWS DAILY – SEPTEMBER 10, 2008 The average mortgage rates reported below result from surveys that concluded two or three days before the federal takeover tsunami hit the market. A decline in rates is one frequently stated hope from the conservatorship of the two GSEs and […]
Be Careful with Deal “Values”
August 25, 2008 in General R.E., RESIDENTIAL R.E., Step 05: Analyze Opportunities
There always seems to be confusion in the marketplace about real estate “valuesâ€?. We frequently hear about market values, tax values and appraisal values. It is important to understand what these values really mean and how to use them. Let me first say, the most important value is what the property will sell for on the open market. Don’t ever forget that. Listings that say “property listed $30,000 below appraisalâ€? or “property listed 20% below tax valueâ€? mean absolutely nothing. It may sound attractive if a property is listed $30,000 […]