Today's Headlines:
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Blount Street Commons delayed The economy has slowed down the development of the 21-acre Blount Street Commons project in downtown Raleigh. Read Full Story National Association of Realtors pending sales index drops The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story National Association of Realtors pending sales index drops The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story National Association of Realtors sales index declines The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story National Association of Realtors pending sales index drops The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story National Association of Realtors pending sales index drops The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story Macy’s may be out of revamped Kingsdale Redevelopment of the Kingsdale Shopping Center in Upper Arlington could eventually expand to include the Macy’s Inc. department store that anchors the 50-year-old suburban retail property. Read Full Story Crye-Leike sales volume dives 26% in 2008 If 2008 was a rough year for residential real estate, it didn’t show at the 32nd annual Crye-Leike Realtor Kick-off, held this morning at the University of Memphis Holiday Inn. Read Full Story Cornerstone Bank taps Feaster as CEO The founder of the former Signature Bank, David Feaster, has been named president and chief executive of Cornerstone Community Bank. (WNTY) Read Full Story King County’s home sales stagnant in December The number of pending home sales last month in King County dropped by more than 21 percent compared with a year earlier. Read Full Story Constar to be delisted by NASDAQ Constar International Inc. said Tuesday that its common stock will be delisted from the NASDAQ Stock Market at the opening of business Thursday. (CNST) Read Full Story National Association of Realtors pending sales index drops The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story CMHA board dispute has day in court The city of Cincinnati will not appoint a new board member to the Cincinnati Metropolitan Housing Authority until late February at the earliest, city officials revealed at a court hearing Tuesday morning. Read Full Story Pending home sales hit historic low in November An index measuring sales contracts for houses and condos fells to its lowest point ever in November, the National Association of Realtors reported Tuesday. Read Full Story National Association of Realtors pending sales index drops The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story Great Mall of the Great Plains sells for $20.5 million Glimcher Realty Trust said Tuesday that it has sold The Great Mall of the Great Plains in Olathe for $20.5 million. (GRT) Read Full Story BBB unveils letter grades for businesses The Better Business Bureau of Eastern Missouri and Southern Illinois said Tuesday it would assign letter grades to area businesses ranging from A+ to F. Read Full Story Pending home sales decline in November An index measuring sales contracts for houses and condos fells to its lowest point ever in November, the National Association of Realtors reported today. Read Full Story Jim Walter Homes shutters Alabama offices Walter Industries Inc. has closed its homebuilding subsidiary, Jim Walter Homes, including its last Alabama sales offices. (WLT) Read Full Story Glimcher sells Kansas mall Glimcher Realty Trust has closed a deal to sell the Great Mall of the Great Plains in Olathe, Kan., its latest effort to unload “non-strategic” properties and focus on high-growth malls. (GRT) Read Full Story Honolulu jobless rate up to 4.4% in November Honolulu’s jobless rate was 4.4 percent in November, up from 3.8 percent in October, according to the latest data from the U.S. Bureau of Labor Statistics. Read Full Story Report: Economic recovery a year away Florida lost more than 150,000 jobs in the past 12 months and it’s only the beginning, said a report by Attorneys’ Title Insurance Fund. Read Full Story National Association of Realtors pending sales index drops The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy. Read Full Story Honolulu office market remains stable Honolulu’s office market escaped much of the crisis that hit Mainland commercial real estate markets to end 2008 with only moderate differences from the year before, according to a new report. Read Full Story Tampa to see housing market recovery by 2010, economist says The Tampa housing market isn’t expecting to rebound this year as population declines and struggling employment numbers continue to be coupled with excess inventory. Read Full Story Study: Fla. recession to last until 2011 Florida’s economy, like that of the rest of the nation, is suffering through an epic economic recession that isn’t expected to recover until 2011, according to a report released Tuesday by the Attorneys’ Title Insurance Fund. Read Full Story D-FW apartment sector feels economic woes A new study from M/PF Yieldstar says apartment occupancy in the Dallas-Fort Worth area during the final quarter of 2008 fell enough to negatively counter the area’s significant apartment rental growth the year prior. Read Full Story Milwaukee home prices up, bucking trend Milwaukee was the only one of 25 major cities where home prices rose from year-ago levels in October, according to a monthly report from real estate data firm Radar Logic. Read Full Story Study: Fla. recession to last until 2011 Florida’s economy, like that of the rest of the nation, is suffering through an epic economic recession that isn’t expected to recover until 2011, according to a report released Tuesday by the Attorneys’ Title Insurance Fund. Read Full Story Report: Ga. mortgage rates among lowest Georgia had the second-lowest 30-year fixed mortgage rates last week, according to real estate Web site Zillow.com Read Full Story Northwest building trades for $5.5M Ritte Company has bought 1730 Massachusetts Ave. NW from the Institute for Electrical and Electronic Engineers Inc. for $5.5 million. Read Full Story Oahu home prices stable in 2008 Home prices on Oahu fluctuated by single digits in December, while the number of sales fell by more than 19 percent year over year. Read Full Story Kauai home sales fall 30% Home sales on Kauai were down by more than 30 percent in December, and also were down by more than 30 percent for the whole year, according to new statistics. Read Full Story Big Island home sales continue to fall Home sales on the Big Island fell in December, mirroring the trend of a drop in sales of about 30 percent for all of 2008. Read Full Story Abraxas reports success with South Texas well Abraxas Petroleum Corp. reports a new gas well in South Texas is producing 600,000 cubic feet of gas per day. (AXAS) Read Full Story City lays off eight development services workers Sacramento on Monday announced it has laid off eight workers in the city’s development services department due to falling revenue. Read Full Story Report: Tough times for Austin CRE in ‘09 While Austin’s economy continues to fare better than that of other U.S. cities, 2009 will be a challenging year for commercial real estate, according to a global forecast released Monday by Grubb & Ellis Co. (NYSE: GBE). (GBE) Read Full Story Southeast economy has more of the same in store in 2009 The Southeast can look forward to “more of the same” in 2009 when it comes to the regional economy, according to the Federal Reserve Bank of Atlanta. Read Full Story Balfour Beatty buys into two Texas projects Balfour Beatty Communities has paid $142 million to gain an interest in two phases of a military housing project in Texas. Read Full Story N.C. foreclosures jumped 9% in 2008 The number of foreclosures in North Carolina increased by 9 percent in 2008, new state data show. Read Full Story Montgomery County makes personnel changes Montgomery County is making changes to its administrative hierarchy, promoting Assistant County Administrator Joe Tuss to second-in-command, it announced Monday. Read Full Story N.C. foreclosures jumped 9% in 2008 The number of foreclosures in North Carolina increased by 9 percent in 2008, new state data show. Read Full Story Orlando group plans Austin project More than a year after it dropped plans for a massive, mixed-use development in Leander, Avalon Park Group Management Inc. of Orlando is re-entering the Austin market, this time on a smaller scale. Read Full Story Economy to dominate ’09 Missouri General Assembly session Economic issues will take a front seat during this year’s General Assembly session as Missouri lawmakers grapple with a projected $342 million budget shortfall and ways to fuel job growth amid a recession. Read Full Story Mathews Nichols joins Allie Beth Allman The Mathews Nichols Real Estate Group is beginning the new year with a new company. Read Full Story Triad's Crisco named N.C. commerce sec'y Gov.-elect Beverly Perdue on Monday named Asheboro businessman Keith Crisco as her choice for state Secretary of Commerce. Read Full Story New Yorkers' confidence goes from “worse” to “bad” New Yorkers’ consumer confidence has improved from “worse” to “bad,” according to the latest Siena Research Institute poll. Read Full Story Real Estate Roundup: Fournier Group moves to Kaplan Building penthouse The Fournier Group, a Portland-based insurance and financial services group, has moved its headquarters to the penthouse condo at the Kaplan Building, 510 S.W. Fifth St. Read Full Story Progress Energy issues earnings prediction for 2009 Progress Energy’s earnings growth could slow in 2009 as the company cuts costs to deal with the economy. (PGN) Read Full Story Lawmakers move to plug $2.3B budget gap Business groups will be watching warily when Florida lawmakers return Jan. 5 to the Capitol to work on closing a $2.3 billion hole in the state’s $66 billion budget. Read Full Story The housing market in 2009? It’s anyone’s guess We asked three experts in the local housing market what to expect in 2009. We got three different answers. Read Full Story Banks gear up for major shifts resulting from mergers Coming off one of the toughest years in decades, most local bankers are hoping for a respite from the turmoil in 2009. They probably won’t get it. Read Full Story Dorothy Bridges Dorothy Bridges, one of only a handful of black female bank chief executive officers in the nation, took over in September 2008 as head of District-based City First Bank. Read Full Story Drees, others file suit over HUD ruling Fort Mitchell-based Drees Co. and several dozen national home builders have filed a complaint against the U.S. Department of Housing and Urban Development. Read Full Story Attorney: Hale ‘trying to work something out’ over condo project Baltimore developer Edwin F. Hale Sr. has defaulted on a $10 million loan taken out to finance Canton Crossing, a high-profile waterfront development in Baltimore City anchored by the 17-story First Mariner Bank tower, according to court documents. Read Full Story Apartments sell for $4.8M; Nursing home union vote City apartments sell for $4.8 million The Evergreen Village apartment building on the southwest side of Milwaukee sold for $4.8 million in December, $1 million more than it sold for in September 2002. Read Full Story Biggest backlog of sales in King County hits Alki beach community The quirky neighborhood of Alki Beach has long been known for its extensive coastline, its crusty seafood joints and its weathered surf shops, all of which are pounded by waves of Seattle tourists each summer. Read Full Story Many condos for sale in Alki Beach community, but only one sign, please There’s a slew of condos on the market in Alki but you wouldn’t know it from the “For Sale” signs — or lack of them. Read Full Story Developer sells Whidbey vacation cottages to seniors instead When a Colorado developer dreamed up Langley Garden Bungalows, he believed the Whidbey Island cottage community would draw baby boomer Seattleites looking for vacation homes. Read Full Story Residential real estate It was the year of the bargain hunter in residential real estate in Sacramento. First-time homebuyers snapped up foreclosed homes, investors hoped to capitalize on foreclosure prices and future residential development land traded at steep discounts. Read Full Story Downtown Raleigh condo sales are slow, steady RALEIGH – Downtown Raleigh condominium projects are not meeting the goals set by developers when dirt was turned, but slow and steady progress is being made despite a dire environment for the housing sector. Read Full Story Lenders foresee the unforeseen For those trying to maintain the flow of credit to small businesses and homebuyers, 2008 was an unsettling year. If New Mexico fared somewhat better than other states, nerves were perhaps all the more on edge as lenders waited for the other shoe to drop — as it just might in 2009. Read Full Story San Felipe Pueblo’s housing stock grows with MFA’s help San Felipe Pueblo is partnering with the New Mexico Mortgage Finance Authority on more than 30 rehabs and new construction projects on its homeland, halfway between Albuquerque and Santa Fe. Read Full Story Apartments in outlying areas not experiencing drastic uptick in renters While changes in the housing market are constantly on the move, to date Delaware and Licking counties have apparently not experienced a significant shift to apartment living. Licking County landlords, for instance, said it’s still business as usual – sort of – despite the unusual times. Read Full Story With rental housing at a premium, older complexes need a facelift A resurgence in apartment living brought on, in part, by the increase in foreclosures means a lot of properties need a facelift. Read Full Story Apartment developers weigh options A decline in job growth, a rising unemployment rate, unavailable credit and high vacancy rates have created a perfect storm of problems for the apartment sector, leaving real estate experts wary as the market enters 2009. Read Full Story Chance Gordy optimistic about future of multifamily projects Chance Gordy believes in the future of downtown condo living. Read Full Story How do people looking to buy townhomes differ from those looking at single-family homes? Cindy Manning, Realtor, Re/Max Town Centre: “Typically, demographics for townhomes have been first-time homeowners or an empty-nester who needs to downsize. Demographics for the single-family homebuyer are those who want much more space, a yard and want to get away from the feeling of an apartment lifestyle. Townhomes seem to be more attractive now because of price, low maintenance, amenities — most of them are new and updated.” Read Full Story Egbert Perry will help fix mortgage giant Fannie Mae Atlanta-based urban developer Egbert Perry has joined the board of troubled mortgage giant Fannie Mae, whose near collapse four months ago threatened to sink America’s housing market. Read Full Story Little house on the infill Chad Ludeman is building green homes that are affordable, and they even come with a blog and a happy hour. Read Full Story Housing slump doesn’t scare Realtors’ prez Jim Alexander takes the reins of the Atlanta Board of Realtors (ABR) as the housing market is in the midst of a historic downturn and the group’s membership is in steep decline. Read Full Story Green condos are still attracting buyers at listing price When Kelly Hough received her energy bill last summer, she thought the electric company had made a mistake. Read Full Story Jacksonville real estate is in for a rough 2009 Last year was rough for the commercial and residential real estate market, and 2009 isn’t expected to get much better. Read Full Story There’s plenty of supply, but buyers aren’t getting loans One way to look at the future of residential real estate is in terms of the classic supply and demand dynamic, except that those two factors are unlike anything industry veterans have ever seen. Read Full Story Home sales offer 2009 litmus test Entering 2009, housing is perhaps the most significant sign on the road to New Mexico’s recovery. If housing continues to soften, New Mexico’s recession is likely to be bumpy and prolonged. Read Full Story Buyers, tenants stand to gain amid turmoil The 2009 outlook for real estate — commercial as well as residential — is grim. Read Full Story Apartment plan banks on new appeal of renting Turning an old elementary school in Schenectady into luxury apartments might seem dicey right now because of the economy, but the timing could work in Franca DiCrescenzo’s favor. Read Full Story Executive domains: Financial District loft puts the city at your front door Neighborhoods are taking hold in Boston’s Financial District where, unlike the Back Bay or many of the South End’s long-established residential communities, buildings originally built for industrial use are being transformed. Read Full Story 10 To Watch: Mark DeWeese GRAHAM — To say 2008 has been rough for Triad home builders is probably being generous. Mark DeWeese, president of Empire Homes in Graham, knows that as well as anyone. Read Full Story |
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