Home prices down 7.6%
Continue Reading Add comment August 14th, 2008
Real estate prices continued to post steep year-over-year declines during the three months ended June 30, according to a new report from the National Association of Realtors (NAR).
Archive for August 14th, 2008
Green Your Mail, Save 100 Million Trees
Add comment August 14th, 2008
Considering the fact that scarce anyone spells letters any longer, the amount of mail the mean household haves is absolutely astonishing. Though some of it is lawful correspondence, a great deal is “junk mail” directed as advertising. According to ForestEthics, junk mail in the US accounts for 1/3 of all mail world-wide, with each household [...]I’m Going Online First
Continue Reading Add comment August 14th, 2008
Avoiding Realtor commissions might seem like a good idea now that home prices are falling and many people owe more in mortgages than their homes are worth. Free sites like Craigslist.org certainly help that approach. Forsalebyowner.com was among the first sites to facilitate such sales online. It charges a fee of from $90 to $900 for advertising on its site. That’s a lot less than a 6% commission.
Data from the National Association of Realtors shows that fewer people are finding the homes they buy through agents. Last year 29% of all home buyers found their home on the Internet first versus 34% through their agent. Ten years ago those numbers were dramatically different. Half found their homes through an agent and only 2% through the Internet.
Those are the home buyers though. I’m sure the agents don’t mind that home buyers are doing some of their work for them. I’d like to see data on how many people try to sell their homes on their own first and then call an agent.
PREI Partners with L&L Holding for NYC Office Shopping Spree
Continue Reading Add comment August 14th, 2008
Prudential Real Estate Investors established a joint venture with L&L Holding Co. L.L.C. for the acquisition of premier office properties in the greater New York City area. Acting on behalf of institutional investors, the team will plunk down as much as $500 million for the purchases, most of which will be made in Manhattan. Read more »
PREI Partners with L&L Holding for NYC Office Shopping Spree
Continue Reading Add comment August 14th, 2008
Prudential Real Estate Investors established a joint venture with L&L Holding Co. L.L.C. for the acquisition of premier office properties in the greater New York City area. Acting on behalf of institutional investors, the team will plunk down as much as $500 million for the purchases, most of which will be made in Manhattan. Read more »
First Industrial Continues to Expand in Metro Seattle
Continue Reading Add comment August 14th, 2008
Having entered the Seattle market only last year, Chicago-based First Industrial Realty Trust has grown its presence there steadily, its most recent transaction being the just-announced acquisition of a three-building distribution portfolio in the Kent Valley. The Class A buildings total 233,000 square feet and are 100 percent leased. Read more »
Boston Properties’ $440M Office Purchase Wraps Up Macklowe Deal
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Just a day after announcing the closing of two New York City office building acquisitions from Macklowe Properties totaling $705 million, Boston Properties has completed its purchase of yet another Macklowe trophy office building, 125 West 55th St. The acquisition of 125 West 55th St. was part of a $3.95 billion, four-property portfolio purchase agreement Boston Properties and partners made with debt-ridden Macklowe earlier this year. Read more »
Paramount Closes on $1.5B NYC Office
Continue Reading Add comment August 14th, 2008
Only a day after the finalization of the sale of two Macklowe Properties buildings in Manhattan to Boston Properties, Paramount Group Inc. has closed on another of the buildings Macklowe owned for a while, 1301 Avenue of the Americas. The unconfirmed transaction price, widely reported when the deal was announced early this summer, is about $1.5 billion. Read more »