Market Conditions Interview Jun 27, 2009
Real Estate News and Advice ... If you are a licensed real estate agent or mortgage broker interested in reporting Market Conditions for your local area, please fill out the form below and someone from Realty Times will contact you. (RealtyTimes)
FDA could pull Immucor reagent license Jun 27, 2009
FDA threatens to revoke Immucor's reagents license - Atlanta Business Chronicle. for free extra services. (Atlanta Business Chronicle, GA)
Transparency from lenders will help for now Jun 27, 2009
Often these buyers were encouraged by brokers and real estate agents advice that home appreciation was almost a given. Many of these buyers come to us with a so-called 80/20-loan: They signed up for a first mortgage for 80 percent of their home s value and a second mortgage for 20 percent on closing day, with no down payment. (Atlanta Journal-Constitution -- Business)
'Glad we got laid off' Jun 26, 2009
O.J. and Dana Flowers were right in the center of the latest real estate bust: They were loan officers at the California bank IndyMac. When the bank went bust in mid 2008, the Flowers' decided to go into business for themselves. (CNN -- Money)
Existing home sales rise by 2.4% Jun 24, 2009
By ALAN ZIBEL AP Real Estate Writer ... Now the economy is hobbling the recovery of the real estate market ... Responding to widespread complaints about inflated appraisals during the real estate boom, New York Attorney General Cuomo reached a pact last year with mortgage companies Fannie Mae and Freddie Mac on a new code of conduct for the industry. (Atlanta Journal-Constitution)
Part of the family Jun 24, 2009
Jimmy Ruth Martin, 73, who sells real estate in Louisville, Texas, said she gives her border collie Samantha table food: chicken, steak, potatoes, salad, ice cream. "She'll eat anything I'm eating," she said. (Atlanta Journal-Constitution)
E-mail newsletters Jun 24, 2009
AJC Business Business Insider - Topics from local executives, companies, stocks, real estate news, and more. AJC Deals and Steals Sales and Special Offers from local Atlanta retailers. (Atlanta Journal-Constitution)
Recession works for technical colleges Jun 23, 2009
Dana Hudson Mitchell made a living for 12 years selling real estate. But during the past couple of years she watched her salary dwindle as the economy weakened and the housing market tumbled. (Atlanta Journal-Constitution -- Business)
Atlanta area property values take $5B hit Jun 22, 2009
Tax assessors across Atlanta s five core urban counties say homes and businesses lost almost $5 billion in real estate value last year due to the continuing recession ... Still, property owners in Clayton, Cobb, DeKalb, Fulton and Gwinnett counties are complaining that assessors haven t gone nearly far enough to account for a real estate slump that has houses in some communities for sale at less than the price of a decent used car ... R.J. Morris, an investor in rental real estate, said... (Atlanta Journal-Constitution)
463,883 Georgians unemployed in May Jun 20, 2009
The worst damage has come in a few key sectors: manufacturing, construction, real estate. The result: Job seekers outnumber openings roughly 5-to-1. (Atlanta Journal-Constitution -- Business)
Cherokee Banking under consent order Jun 20, 2009
"In response to the collapse of the housing and real estate markets, we proactively initiated our own strategic plan in June 2008 aimed at ensuring that we remain a safe and sound institution," said Dennis Burnette, president and CEO, in a statement ... Stay up to date on the latest news from within the commercial real estate industry. (Atlanta Business Chronicle, GA)
Atlanta mayoral candidates discuss budget plans Jun 20, 2009
In a recent interview, Reed said he would not look into selling the property right now because of the shaky real estate market. Reed, as did most candidates, said he d take a cautious approach to outsourcing some city services to private companies. (Atlanta Journal-Constitution -- Metro)
Coyote Logistics moves corporate headquarters to Alpharetta Jun 20, 2009
Brookside Concourse is a 45-acre complex that has more than 550,000 square-feet of office space, managed by The Alter Group, a national corporate real estate development firm. Search. (Atlanta Journal-Constitution -- Business)
Foreclosure numbers don't add up Jun 20, 2009
We know surprisingly little about this phenomenon, which is affecting virtually every community and every neighborhood, said Frank Alexander, a professor at Emory University s law school who is an expert in real estate law. While foreclosure statistics from across the country are hard to get, details about what kinds of properties and owners are in default can be even more mysterious. (Atlanta Journal-Constitution -- Business)
Nordstrom Rack to open in Buckhead Station Jun 19, 2009
The Buckhead Station shopping center is owned by Equity One, a Miami-based real estate investment trust. Other tenants include Old Navy, TJMaxx, DSW, Bed Bath d, Ulta3 and Toys R Us. (Atlanta Journal-Constitution -- Business)
Job counselors advice Jun 19, 2009
As owner of Resumes By Joyce, Joyce Harold is working with a man who owns a local real estate development company that had done lucrative work until the housing market crashed. Now, he is willing to take anything. (Atlanta Journal-Constitution -- Business)
University of Georgia inks blockbuster media deal Jun 18, 2009
UGA inks blockbuster media deal - Atlanta Business Chronicle. for free extra services. (Atlanta Business Chronicle, GA)
Church's Chicken sold to Calif. company Jun 18, 2009
Arcapita paid $228 million, with $162 million coming from a sale and leaseback of real estate. Church s, paired for more than a decade with rival Popeyes, became more competitive under Arcapita. (Atlanta Journal-Constitution -- Business)
Home prices fall 25% in past year Jun 17, 2009
The decline does not mean the roof has caved in on Atlanta real estate, said Steven Fischer, president of the Georgia Association of Realtors. That 25 percent is taking into consideration all of the reductions in values of the sales we ve had due to foreclosures and short sales, he said. (Atlanta Journal-Constitution -- Business)
Online social network use exploding Jun 17, 2009
Conference Board: 43% of Internet users now in social networks - Atlanta Business Chronicle. for free extra services. (Atlanta Business Chronicle, GA)
Timing key to Cousins Properties CEO's decision to retire Jun 16, 2009
Tom Bell says his decision to retire from the top job at one of Atlanta s most prominent real estate firms is more about the company s future than his. Bell, chairman and chief executive of Cousins Properties, said the battered real estate market is nearing a point at which Cousins can start a new growth cycle ... A civic mover-and-shaker, he ll hand the reins to Larry Gellerstedt III, 53, who is equally well-known in both real estate and civic circles. (Atlanta Journal-Constitution -- Business)
Fed's Aid to Commercial Real Estate Market May Attract Few Initial Deals Jun 16, 2009
Feds Commercial Real Estate Aid May Have Few Deals for Start - Bloomberg ... Feds Commercial Real Estate Aid May Have Few Deals for Start ... June 16 (Bloomberg) -- The Federal Reserve may have few, if any, securities deals for the start of its program to aid the commercial real estate market and head off more losses at U.S. banks. (Bloomberg -- US)
Isakson Unveils Homebuyer Tax Credit Jun 16, 2009
Isakson, formerly an Atlanta real estate executive, said the bill would help invigorate the housing market. He said there is a recession not in first-time home buyers but in the "move up market." Isakson is up for re-election to a second term in 2010. (13WMAZ.com, GA)
Developers look past auctions to sell condo units Jun 16, 2009
The developer of 10 Terminus has started the Cousins Assurance Program, which guarantees buyers their real estate investment will not decrease after three years, or they get their money back. The program, financed by Cousins, demonstrates a level of commitment the group has to the project, said Jason Frost, vice president for development. (Atlanta Journal-Constitution -- Business)
Gwinnett ditches deal after DA's threat Jun 5, 2009
The registered agent for Old Peachtree Partners LLC is a real estate developer and investor named Ty Robinson. Robinson could not be reached for comment Thursday afternoon. (Atlanta Journal-Constitution)
Lawmakers challenge Cobb tax digest Jun 5, 2009
Cobb County s contention that its property values held up against the real estate slump has come under fire from a powerful group of state legislators. The five lawmakers filed a letter Wednesday with the state Revenue Department contending thousands of Cobb residents could pay too much in property taxes because values do not reflect the crisis. (Atlanta Journal-Constitution -- Metro)
Sales record in Buckhead Jun 5, 2009
5 million, the most expensive recorded residential sale in Atlanta real estate history ... 5 million, the most expensive recorded residential sale in Atlanta real estate history ... Steve Palm, president of SmartNumbers, a real estate research firm in Marietta, said he could not find a higher sale price for a single-family home among his various databases. (Atlanta Journal-Constitution)
Fulton's revised tax notices go out Saturday Jun 5, 2009
Fulton County on Saturday becomes the final major metro Atlanta county to lower taxable values because of the national real estate collapse when it mails nearly 107,000 revaluation notices. Burt Manning, Fulton s chief appraiser, said 90 percent of the notices will lower values on properties. (Atlanta Journal-Constitution)
Tourette's most common in white kids, boys Jun 5, 2009
Unable to submit Real Estate, Services, and Business Investements at this time. Map the Valley. (Hanford Sentinal, CA)
County seeks proposals for industrial land Jun 4, 2009
Wanting to see what land might be available for use as an industrial park, Sedgwick County Commissioners on Wednesday agreed to expand its search and submit request for proposals from 187 communities, private developers and real estate brokers ... Stay up to date on the latest news from within the commercial real estate industry. (Wichita Business Journal, KS)
Sole bidder buys Equitable Building Jun 3, 2009
John Speros, senior vice president of Ackerman an Atlanta-based full-service commercial real estate firm, said the Equitable Building was among a number of trophy assets purchased at the top of the market based on the availability of inexpensive financing ... Metro Atlanta s overall office vacancy rate was 17 percent for the first quarter of this year and could reach 18 percent by the end of the year, said Scott Amoson, director of research for Atlanta-based Colliers Spectrum Cauble, a... (Atlanta Journal-Constitution)
Female president for Shaw, a first Jun 3, 2009
Triangle Real Estate ... Stay up to date on the latest news from within the commercial real estate industry. (Raleigh Triangle Business Journal, NC)
SunTrust to raise money in stock offer Jun 2, 2009
In addition to the stock sale, the bank struggling with soured real estate loans plans to raise $300 million by selling securities and other assets. The stock sale will dilute the holdings of existing shareholders, shrinking dividend payments and eroding earnings per share. (Atlanta Journal-Constitution)
Lawyer: NY Gov. Spitzer met often with prostitutes Jun 2, 2009
Law enforcement officials have said Spitzer, the millionaire heir to a New York real estate fortune, had spent tens of thousands of dollars, perhaps as much as $80,000, on the high-priced escort service's women. Lewis, a Brooklyn resident and University of Virginia graduate who majored in English, worked at the escort service from October 2006 until her arrest in March 2008. (Atlanta Journal-Constitution -- World)
Handel defiant after feds reject voter screening Jun 2, 2009
Anybody who doesn't believe that Handel and her staff deliberately created a system that would disqualify a few extra African-Americans and Hispanics, please contact me about some investment opportunities in prime real estate and hedge funds options I would like to offer you. Commenting is open from 8 a.m. to 5 p.m. M-F, except on Tuesday when it's open until 9 p.m.. (Atlanta Journal-Constitution -- Metro)
Homeowners face rising roofing costs Jun 2, 2009
Sunday, May 31, 2009. It s an expense homeowners must face eventually, however tight the household budget: roof replacement. (Atlanta Journal-Constitution)
Morris Publishing buys more time May 31, 2009
Stay up to date on the latest news from within the commercial real estate industry. News, analysis and ideas that defy the odds and the times. (Atlanta Business Chronicle, GA)
Exclusive Subscriber Content May 31, 2009
Print Edition - Atlanta Business Chronicle. for free extra services. (Atlanta Business Chronicle, GA)
Fairfax to launch new tourism campaign May 30, 2009
for free extra services. Subscribe to Washington Business Journal. (Washington Business Journal, DC)
ALL BUSINESS: Ex-Countrywide execs to aid housing May 30, 2009
"The scandals involving Countrywide show they didn't have homeowners' best interest in mind when they pushed them into subprime loans," said John Vogel, who teaches real estate finance and management at the Tuck School of Business at Dartmouth College. That's why Kurland and others have a chance here to salvage their reputations. (Atlanta Journal-Constitution -- Business)
Broker optimistic about future May 30, 2009
That s including getting into a lot of different business lines, including the managed money line of business, where you are hiring professional money managers to run clients monies, including looking at real estate investment trusts, which are not residential real estate but commercial real estate trusts. We ve looked at oil and gas investments for those investors who are looking to offset some income and have long-term investments. (Atlanta Journal-Constitution -- Business)
Bing it on: Microsoft overhauls search, again May 30, 2009
For Thailand, categories include weather and real estate. Bing also lists related search terms on the left, not at the bottom of the page like Google does. (Yahoo News -- Technology)
On homes, green space, rhetoric May 29, 2009
Real estate speculators offer to buy ugly or as-is houses. DUI lawyers and those who recruit clients with accident-related claims surface. (Atlanta Journal-Constitution -- Opinion)
Send photos! May 29, 2009
Show off your yard or patio. It's time to start enjoying all of that hard work you put into the yard this spring. (Atlanta Journal-Constitution)
FAO Schwarz to leave Macy's after purchase May 29, 2009
Toys 'R' Us deal means no more FAO Schwarz in Macys - Tampa Bay Business Journal. for free extra services. (Tampa Bay Business Journal, FL)
Georgia banks' losses in first quarter: $1.2 billion May 28, 2009
2 billion in the first quarter as the recession deepened and the troubled real estate market deteriorated even further ... Experts say that s because many Atlanta banks bet heavily on the area s real estate market, which is suffering through a historic downturn ... The state s most profitable banks are in small cities and towns like Colquitt, Fitzgerald and Hinesville, areas that didn t experience a big run-up in real estate values. (Atlanta Journal-Constitution -- Business)
Conflicting signs on metro Atlanta home prices May 28, 2009
Today, an important real estate index said average metro Atlanta home prices dropped about 1 percent in March from the previous month ... Real estate agent Julie Sadlier, whos been in the business for 30 years, swears shes considerably busier now than last year her worst in at least 15 years ... Steve Palm, president of SmartNumbers, a real estate research firm in Marietta, told AJC reporter Michelle Shaw that the local market hit bottom in February, according to his figures. (Atlanta Journal-Constitution -- Business)
What to do with empty dealerships? May 28, 2009
The bad news is there may be few takers in what has been called the worst commercial real estate market in decades. Most new car dealerships are built fairly use specific with showrooms and service areas. (Atlanta Journal-Constitution)
Former Ford plant site nears Phase 1 May 28, 2009
But we re optimistic because it s a unique piece of real estate, given its proximity to Hartsfield. More than 90 million passengers passed through Hartsfield last year, the world s busiest airport. (Atlanta Journal-Constitution -- Metro)
Some areas looking up May 26, 2009
ATLANTA HOME SALES REPORT. Silver lining found in 2008 Atlanta home sales report. (Atlanta Journal-Constitution)
Gwinnett pays more for land than it's worth May 26, 2009
I don t understand this, said Larry Singleton of Singleton Real Estate in Woodstock. I couldn t sell that [property] for $69,000 an acre. (Atlanta Journal-Constitution -- Metro)
Tax assessments drop in five major counties May 25, 2009
There s no question tax assessors across metro Atlanta have reacted to the continuing real estate collapse ... The continuing real estate crisis certainly has sent assessors scrambling to catch up and understand. (Atlanta Journal-Constitution -- Metro)
In the market for a skyscraper? Get one cheap May 24, 2009
Have I got a skyscraper for you - Real estate- msnbc ... Loan defaults in the worst commercial real estate market in decades have created tens of billions worth of distressed properties across the nation, sometimes forcing cut-rate auctions of landmark skyscrapers ... The Hancock Tower and the Sixth Avenue building are the first of a wave of foreclosures and auctions expected in the next year that will slash sale values of formerly prime real estate, analysts say. (MSNBC -- Business)
West Georgia bank given 30 days to shore up capital May 22, 2009
Like many small Georgia banks, Community Bank of West Georgia has suffered big losses tied to the real estate market. The bank reported an $8 million loss for 2008, with 10 percent of loans at least 90 days late. (Atlanta Journal-Constitution -- Business)
Metro Atlanta office property demand tumbles May 22, 2009
Numbers released this week by LoopNet, an online commercial real estate listings service, show that the volume of office transactions dropped 49 percent compared with the previous 12-month period. For the 12-months ending March 30, metro Atlanta office property sales totaled $1. (Atlanta Journal-Constitution)
DeKalb property values still too high, lawyer claims May 21, 2009
New property appraisals reflect the collapse of real estate values in DeKalb County, but a lawyer who filed a lawsuit against the county tax assessor this week said official values are still too high ... In April, before foreclosures and freezes entered the equation, the value of real estate there showed a decline of about 5 percent from the official figures in June 2008 ... The real estate tax base for county-wide government services fell 3. (Atlanta Journal-Constitution -- Metro)
Enterprising UGA alum wants you to rank 'em May 21, 2009
"Here's the premise," says Wexler, a real estate major who also was one of the first graduates of UGA's Music Business program ... "My family is in real estate, but I've got a passion for music. When I got into the Music Business program, it really opened my eyes about what's out there and what's not out there. I was frustrated by the iTunes process and came up with a solution.". (Athens Banner-Herald)
Senator: More oversight needed of pension agency May 20, 2009
Compounding the agency's fiscal problems are investigations into allegations that its former director, Charles E.F. Millard, had inappropriate contacts with three Wall Street firms that recently won multimillion-dollar contracts to advise the agency on a new strategy to invest its assets more heavily in stocks, real estate and private equity rather than more conservative fixed-income treasury securities ... In February 2008, during Millard's tenure, the board approved a new investment strategy... (Atlanta Journal-Constitution -- World)
Housing construction at record low... May 20, 2009
Analysts said apartment construction is being hurt by a glut of condominiums on the market and by tightening credit conditions for commercial real estate ... AP Real Estate Writer Alan Zibel contributed to this report. (The Drudge Report)
95,000 in DeKalb to get lower assessment May 20, 2009
Tax officials say the do-over will benefit thousands of property owners across the county who will see their county tax appraisals, and possibly their tax bills, fall in reaction to the ongoing real estate slide. Recent headlines. (Atlanta Journal-Constitution -- Metro)
Home Depot profit rises despite sales slide May 20, 2009
Real solutions for your real estate needs. Choose from the selections below. (USA Today -- Money)
State's credit unions make gains as banks suffer May 20, 2009
One explanation: Federal law sharply restricts how much credit unions can lend to commercial borrowers such as real estate developers the kind of loans at the root of many banks troubles. Credit unions have been lobbying Congress to remove the lending cap, however. (Atlanta Journal-Constitution -- Business)
Enrollment jumps at tech schools May 19, 2009
Former real estate agent Dana Hudson Mitchell is among people prompted by the recession to go back to technical school. She's now getting a degree in surgical technology at Gwinnett Technical College. (Atlanta Journal-Constitution -- Metro)
Small banks' boards face legal threats over failures May 17, 2009
The boards of Georgia s small, community-based banks are filled with a virtual Who s Who of Main Street: Car dealers, doctors, business owners, real estate developers and the like ... It s a job that Neal Reynolds loved, until his bank Alpharetta s Integrity Bank failed late last summer amid a fast-rising tide of bad real estate loans. (Atlanta Journal-Constitution -- Business)
Layoffs, closings swelling ranks of applicants May 17, 2009
" Bank vice presidents, workers from Mayfield Dairy, firefighters, real estate agents and corporate executives joined the ranks of people filing through the job fair, Pittman said. Like Gerig at Tractor Supply Co., Belk merchandise coordinator Stacie Monks said she dealt with a very different caliber of job candidate than she was accustomed to seeing. "Many people were very overqualified for our positions, but some were a perfect fit," Monks said. "I've never seen anything like that before ... "... (Athens Banner-Herald)
