Rating agencies under scrutiny Sep 17, 2009
At one agency, an employee sent this message after noting a change in a competitor's ratings approach: "[We] are meeting with your group this week to discuss adjusting criteria for rating CDOs of real estate assets this week because of the ongoing threat of losing deals.". Executive director of the St James Ethics Centre, Simon Longstaff, said the deal-centric culture led to a serious dereliction of agencies' duty. (Sydney Morning Herald -- Business)
Solatech adds big Aussie account Sep 17, 2009
for free extra services. Subscribe to The Business Journal. (Business Journal of the Greater Triad Area)
Crack the code Sep 16, 2009
He says if the vendor had to provide such reports, "you are putting your confidence in the vendor or the real estate agent, which is worse. I was uncomfortable with that". He can see other problems with the current system, however, having seen three or four local inspectors going through the same house with several different buyers, getting a full-price report each time. (Sydney Morning Herald -- Business)
Signs of life in jobs market a boon for trusts with offices to rent Sep 12, 2009
Goldman Sachs JBWere's head of property research, Simon Wheatley, said that although most real estate investment trusts saw a decline in occupancy, the firm is sure ''post reporting season, that occupancy declines are not in free fall. We are seeing good inquiry from offshore investors wanting predominantly Australian assets with the Commonwealth Property Office Fund. (Sydney Morning Herald -- World)
Australian Hedge Funds Return 3.2% in August, 6th Straight Monthly Gain Sep 11, 2009
Real estate funds were the worst-performing strategy, losing 6. 1 percent, according to the report. (Bloomberg -- Australia & New Zealand)
Public Mutual unveils new fund Sep 10, 2009
Launched on Tuesday, PAUEF is an equity fund that seeks to achieve capital growth over the medium to long-term period and mainly focuses on the commodity, banking, real estate and consumer sectors. Yeoh said in a statement PAUEFF was suitable for investors with an aggressive risk-reward profile and those seeking to hedge their childrens future educational expenses in Australia. (The Star Online, Malaysia -- Business)
Bosses look to bolster workforce Sep 8, 2009
Hiring plans in financial services and real estate rose 7 per cent, mining & construction jumped 13 per cent, and services increased 15 per cent. In the wholesale and retail trade sectors, employers reported a 9 per cent jump in hiring plans for the quarter. According to Manpower's survey of 2333 companies in Australia, 18 per cent said they expected to hire more, while 9 per cent predicted job cuts. (Sydney Morning Herald -- Business)
A glaring case of double standards Sep 6, 2009
Fyfe lambasts Labor ''factional heads'' in Canberra for treating Victoria like ''private real estate. However, the last time the Federal Labor executive intervened in Victoria was to enforce a preselection ballot of local Labor members in Kororoit. (Sydney Morning Herald -- Opinion)
The family that keeps growing Sep 4, 2009
The Duggars live in a 7000-square-foot house in north-west Arkansas, where they manage commercial real estate property. They say they'll keep welcoming more children as long as Michelle is able to have them. (Sydney Morning Herald -- World)
Domain property blog Sep 3, 2009
au's real estate blog ... Real estate advocate Neil Jenman says there's only one surefire way to invest in property without being burnt - STAY AWAY FROM THE SPRUIKERS and stick to buying from local real estate agents ... Commentary on the latest real estate happenings from Australia & around the world. (Sydney Morning Herald -- Technology)
Services Industry in Australia Shrinks at Slower Pace as Confidence Rises Sep 3, 2009
It measures sales, new orders, deliveries, inventories and employment for companies such as banks, real estate agents, insurers, restaurants, transport firms and retailers to compile the overall performance of services index. To contact the reporter for this story: in Sydney at. (Bloomberg -- Australia & New Zealand)
Big ideas on tax deductions from budget office Aug 31, 2009
Though the CBO concedes this option might also have negative side impacts on the real estate market - fewer sales, less money spent on construction, lower home values at the upper end - it's not clear what effect it would have on the national rate of homeownership. Why. (San Francisco Chronicle)
Eric Johnston Sour taste of wealth lingers Aug 31, 2009
But it remains vulnerable given rising bad debts and write-downs in real estate ... With the most affordable real estate gone (including ideal partner AXA Asia Pacific), ANZ finally entered into a wealth partnership with Dutch banking giant ING.. (Sydney Morning Herald -- Business)
The good, the bad and the bizarre Aug 29, 2009
39pm, ING Real Estate Community Living Group: $242. 4m lossFull-year loss of $284 million reported on August 27 but should have been more given claimed net assets still $177 million when the market capitalisation is down to $38 million. (Sydney Morning Herald -- Business)
GPT Group Posts $1 Billion First-Half Loss on European Property Writedowns Aug 27, 2009
The impact of the credit crisis on the real estate environment, and markets globally, has continued to create challenges in operating conditions, however the outlook for real estate in Australia is improving, Chief Executive Officer said in the statement. Whilst we expect that it is likely that there will be further valuation pressure on assets over the second half, we believe that the pace of the devaluation cycle is slowing. (Bloomberg -- Australia & New Zealand)
Report: Dow Jones might sell storied stock index Aug 22, 2009
Real solutions for your real estate needs. Choose from the selections below. (USA Today -- Money)
Stockland books massive $1.8b loss Aug 12, 2009
Stockland, a global real estate investment vehicle holding retail, commercial and industrial assets in Australia, the UK and Europe, faced significant negative non-cash charges in 2008-09. 1. (Sydney Morning Herald -- Business)
Stockland Reports Full-Year Loss of $1.49 Billion; Asset Sale Planned Aug 12, 2009
The real estate developer will embark on an orderly sale of U.K. assets over the next two years to three years, the company said today. The decision to sell the assets is based on the state of the U.K economy and a clear message from investors that they didnt support the global expansion, Quinn said. (Bloomberg -- Australia & New Zealand)
GPT Ditches Overseas Assets That Led to $3.5 Billion in Asset Writedowns Aug 6, 2009
After the divestments, it aims to have 100 percent of its real estate investments in Australia ... The last couple of years have been disappointing for investors across the real estate sector, Chief Executive Officer , who took up the role in May, said in the statement ... GPT last week of the Australian real estate holdings it wants to keep by 6. (Bloomberg -- Australia & New Zealand)
Wine store opens where 1 already failed Aug 6, 2009
But when Winestyles closed after two years, real estate agent and plaza leasing agent John Trost of Prudential CRES called on the Philipsens. "It was a team decision of the plaza owners and others that we keep a wine shop, sort of a second generational thing. It's a natural fit there," Trost said. (Daytona Beach News Journal -- Business)
Oil rebounds after unexpected inventory fall Aug 5, 2009
Pending sales of previously owned US homes rose at a faster-than-expected pace in June, advancing for the fifth month in a row, according to the National Association of Realtors, a real estate trade group. Energy traders also were watching an area of thunderstorms in the Atlantic Ocean several hundred miles southwest of the Cape Verde Islands associated with a tropical wave. (Sydney Morning Herald -- Business)
Ex-Macquarie Property Chief Bill Moss, Lehman's Willis Start Advisory Firm Aug 4, 2009
Moss Capital, based in Sydney, will specialize in debt and equity financing, corporate and real estate advice, and funds management, the company said in an e-mailed statement. With the road to economic recovery typically complex and challenging, I am anticipating that many major players in the Australian market will need to be recapitalized and restructured over the next 12 to 24 months, Moss, chairman of the firm, said in the statement. (Bloomberg -- Australia & New Zealand)
Hey Hardie, spare us a dime? Aug 1, 2009
Thank heavens, then, for some good news from a field in which Australians have long excelled real estate speculation. On Tuesday, Reserve Bank governor Glenn Stevens flagged the possibility of yet another housing bubble, a performance that speaks volumes about the grit and determination of the Aussie home buyer. (Sydney Morning Herald -- Opinion)
Rudd gets A for effort and B for execution Aug 1, 2009
Real Estate Institute of Australia figures show the median weekly rent for a capital city three-bedroom house rose from $328 in December 2007 to $365 in March this year. In a couple of Mr Rudd;s other ;;not achieved;; areas ; such as the goal of establishing a national broadband network within five years ; the original benchmarks turned out to be unrealistic or were derailed by the global financial crisis. (Sydney Morning Herald -- Australia)
The Washington Post Company Reports Second Quarter Earnings Aug 1, 2009
The declines are the result of unfavorable exchange rates in the U.K. and Australia and continued declines in the Kaplan Professional (U.S.) real estate and financial education businesses ... Likewise, professional operating income is down largely due to weakness in professionals real estate and financial education businesses in the U.S. and the U.K., offset by improved operating results at professionals Asian operations. (Yahoo! Wire -- Entertainment News)
Google sparks real estate listings brawl Jul 27, 2009
GOOGLE is facing the greatest challenge yet to its might in Australia as two of its largest media customers threaten to pull their business over the internet company's decision to enter the real estate listings market ... Google began sourcing listings from real estate aggregators such as Homehound and My Home this month and opened up the service to allow real estate agents to list their properties free on Google Maps ... We are obviously not keen to support a would-be competitor with our... (Sydney Morning Herald -- Business)
Buy real estate Jul 24, 2009
Real Estate for Sale @ Domain ... Find out the latest real estate news with Domain Property News ... Commercial Real Estate. (Sydney Morning Herald -- Technology)
Real estate is safe as houses for investors Jul 8, 2009
Australia's largest real estate agency says sales in WA are up 23 per cent on last year, as buyers flood back to the market. The Real Estate group Ray White says the trend was repeated nationwide, with sales for June rising by 33 per cent from the same month last year ... Australasia's largest real estate company also forecast continue sales growth in the second half of calendar 2009 on the back of improved investor confidence. (Sydney Morning Herald -- Business)
More good news Jul 8, 2009
Confidence in the real estate market prompted buyers to take out 2. 2 per cent in May, marking the eighth month in a row of increases, according to the Australian Bureau of Statistics. (Sydney Morning Herald -- Business)
Ray White real estate sales jump Jul 8, 2009
Real Estate group Ray White says investors are returning to the property market after its sales for June rose by 33 per cent from the same month last year. Australasia's largest real estate company also forecast continued sales growth in the second half of calendar 2009 on the back of improved investor confidence ... "Despite a small decline in the real estate market since early 2008, it is still actually performing quite well nationwide.'' Ray White's figures show property sales in all states... (Sydney Morning Herald -- Business)
Housing stats show this is no seller's market Jul 8, 2009
Dr Wilson said while there would be signs of an increase in the planning of real estate projects by the end of the year, the stimulus packages and first-home owners' grant had stemmed the decline in the residential market. "There seems to be no sign of a revival," Dr Wilson said. (Sydney Morning Herald -- Business)
Australian Services Index Expands for First Time in 15 Months on Rate Cut Jul 3, 2009
It measures sales, new orders, deliveries, inventories and employment for companies such as banks, real estate agents, insurers, restaurants, transport companies and retailers to compile the overall performance of services index. To contact the reporter on this story: Victoria Batchelor in Sydney at. (Bloomberg -- Australia & New Zealand)
Investor Education Jun 30, 2009
Real estate investment trust prices have hit bottom and the more viable entities are tipped to become aggressive players in a new wave of mergers, according to a property fund manager. --> Topics. (Sydney Morning Herald -- Sport)
REITs poised for rebound, investor says Jun 30, 2009
Real estate investment trust prices have hit bottom and the more viable entities are tipped to become aggressive players in a new wave of mergers and acquisitions, according to a United States-based property fund manager. Speaking from the US, Steve Carroll, senior managing director of CB Richard Ellis's (CBRE) global real estate securities division, says REITs offer historically good value after the 55 per cent fall in the sector's price globally since February 2007 ... There is now a growing... (Sydney Morning Herald -- Sport)
Albany Intl Corp. closing Australia plant Jun 30, 2009
Albany Intl Corp. closing Australia plant - The Business Review (Albany). for free extra services. (Albany Business Review, NY)
Swine flu shot campaign could involve 600M doses Jun 27, 2009
Unable to submit Real Estate, Services, and Business Investements at this time. Map the Valley. (Hanford Sentinal, CA)
Big Four wind back the clock on deregulation Jun 23, 2009
Our banks took security either over the shares - assuming direct ownership - or by lending against real estate. That is what any smart banker would do. (Sydney Morning Herald -- Business)
Buying an Investment Property Jun 21, 2009
Creating Wealth through Investment in Real Estate ... In Australia it is a well established fact that investing in real estate is a path to creating wealth and enhancing cash flow ... Investing in real estate can be made simple by following these simple rules. (Suite101.com)
ROSS GITTINS Jun 20, 2009
Not for the reason it suits the real estate types to tell you. Monday February 18, 2008. (Sydney Morning Herald -- Business)
Rams Home Loans to lift rates, expand franchises Jun 19, 2009
Rams Home Loans to lift fixed home loan rates. Rams Home Loans to lift fixed home loan rates. (Sydney Morning Herald -- Business)
New stamp duty discount lures home buyers Jun 17, 2009
Leanne Pilkington, general manager of the real estate agency Laing + Simmons, said: "Considering the NSW Government is relying on the recovery of the property sector to bring the state budget into surplus again by 2011-12, they might have to look at extending the time frame of this announcement if they want to see long term economic impacts.". The stamp duty reduction will be available for newly built houses and units, house and land packages, and current stock of unsold new homes and units that... (Sydney Morning Herald -- Australia)
Recovery on the way? Jun 17, 2009
The Australian economy appears to be strengthening, with its annual pace of contraction forecast in April not as severe as in previous months, a survey says. The Westpac/Melbourne Institute leading index of economic activity rose by 0. (Sydney Morning Herald -- Business)
New names to grace old wines Jun 17, 2009
By next year, Australians will find new names on old wines in bars and wine shops, under a deal with the European Union to stop using European names. The agreement will prevent Australian winemakers from using the names of European towns or regions to classify their wines, as has been done since winemaking began here. (Sydney Morning Herald -- Business)
Brace for higher unemployment: economists Jun 5, 2009
Jobless figures out next week are expected to dampen Australians' celebrations after the nation learnt it was not in recession. The new data is likely to show a a sharp jump in the number of unemployed. (Sydney Morning Herald -- Business)
Emerson to act on franchising report Jun 3, 2009
After nearly six months since the Ripoll franchising report was tabled in Federal Parliament, small business minister Craig Emerson has finally broken his silence and indicated he is ready to begin "targeted" consultations on the reforms proposed in the report. Following this, an options paper is to be released in coming weeks, with Mr Emerson suggesting a formal response will be released in late July. (Sydney Morning Herald -- Business)
Rising sales point to housing recovery Jun 1, 2009
However, other gauges of real estate values have shown declines through the first quarter. The Australian Bureau of Statistics showed a 2. (Sydney Morning Herald -- Business)
Strong foreign demand for Australian properties Jun 1, 2009
KUALA LUMPUR: Buying interest in Australian properties by Malaysian as well as other foreign investors has been on the rise the past six months and this trend is expected to continue for some time, say real estate agents and developers. Jalin Realty International Pte Ltd, a real estate agent that specialises in properties abroad, expects a stronger demand for Australian properties this year ... An Australian real estate agent from LJ Hooker said there was stronger buying interest in Australian... (The Star Online, Malaysia -- Business)
Liberals lash franchise delay May 29, 2009
An MP at the forefront of the fight for franchising reform says Federal small business minister Craig Emerson has "blood on his hands" by not quickly implementing changes to the $128 billion-a-year industry. Following by last week that a state Labor MP frustrated at inaction from Dr Emerson over reforms to the franchising code of conduct was considering introducing state-based laws, two federal Liberal MPs at the forefront of the battle have come out swinging. (Sydney Morning Herald -- Business)
Self-managed funds shunned by panel May 29, 2009
Federal minister for superannuation Nick Sherry has announced who will sit on the expert panel that will review Australia's superannuation system. Despite self-managed superannuation funds being the largest player in the superannuation system, not one representative from the SMSF sector has been included. (Sydney Morning Herald -- Business)
400 jobs in doubt at chain store May 27, 2009
MORE than 400 retail jobs across Victoria are at risk after discount supermarket chain Not Quite Right yesterday called in an administrator. The NQR chain, with 26 stores across the state, sells groceries that are near or past their "best before" date. (Sydney Morning Herald -- Business)
Dollar jumps on confidence rise May 27, 2009
"Basically, the dollar has been pretty well supported,'' Mr Roberts said. ``It's partly flowing from improved risk sentiment, we saw that in the way in which US equity markets improved last night.'' Wall Street powered higher when it resumed trade after the Memorial Day holiday, propelled by the consumer sentiment data. Further positive data is expected during Wednesday's offshore session, with the US National Association of Realtors due to publish its existing home sales data for April.... (Sydney Morning Herald -- Business)
GFC prunes Twiggy of $8bn May 26, 2009
The latest stoush has been set down for July 20 in the Supreme Court of WA, and pits the nation's second-richest man against a real estate outfit in Port Hedland named Hedland First National (HFN). HFN was contracted to build 33 homes for its workers on land allocated by the WA Department of Housing and Works back in 2007. (Sydney Morning Herald -- Business)
GPT confirms outlook despite property woes May 25, 2009
Real estate under pressure but GPT maintains guidance ... GPT confirms guidance despite real estate woes ... GPT Group has maintained its guidance for calendar 2009, as real estate asset values remain under downward pressure in Australia and around the world. (Sydney Morning Herald -- Business)
End of ban a 'buy signal' May 25, 2009
"The lifting of the ban is itself a sign that ASIC, the Reserve Bank of Australia and the government collectively believe that the crisis is now past the 'system-threatening' stage. That makes it more a buy signal than a sell signal,'' said Citigroup strategist Graham Harman. The move sent shares of some banks and real estate investment trusts (REITs) that were included in the ban lower but analysts and dealers saw no lasting impact on the market from it, saying they had already seen their worst... (Sydney Morning Herald -- Business)
Labor rift developing over franchise frustration May 23, 2009
The first signs of cracks between state and federal Labor MPs have appeared over the issue of reforming the troubled franchise industry. While the Federal Government continues to sit on a report recommending changes to practices in the $128 billion-a-year industry, a frustrated leading state campaigner for reform says he will have no choice but to introduce his own laws if Canberra does nothing. (Sydney Morning Herald -- Business)
Full Story» May 22, 2009
Search for updated real estate listings in Kill Devil Hills, NC.. Featured. (Yahoo News -- Technology)
Golfsmith acquires MacGregor Golf May 22, 2009
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New Species Found at Great Barrier Reef May 22, 2009
WITH SOME PRIME REAL ESTATE. AND COLORFUL CHARACTERS. THIS IS AUSTRALIA'S GREAT BARRIER REEF.. (National Geographic)
Dell Rolls Out New Netbook Aimed At Younger Students May 20, 2009
Real Estate Headlines. Gray Television, Inc. - Copyright 2002-2009 - Designed by Gray Interactive Media - Powered by Clickability. (KWTX.com, TX)
First-home buyers 'most vulnerable' May 19, 2009
"From our assessment, the next 12 months is potentially the most vulnerable in the employment sense.'' Although average home prices have slumped 6.7 per cent in the year to March, according to ABS numbers, Mr Lamont said the fall is skewed by drops in value in homes worth $700,000 or more. Academics, such as University of Western Sydney professor Steve Keen and Australian National University economist Quentin Grafton disagree, arguing the slumping home prices will continue to ripple through the... (Sydney Morning Herald -- Business)
Jump in first home buyers as rents rise May 17, 2009
A Real Estate Institute of NSW spokesman said that, with tough times forecast to continue next year, the grant had not been extended long enough. "We believe the additional incentive should run until at least July 2010," he said. (Sydney Morning Herald -- Australia)
Financial crisis trims millionaire suburbs May 16, 2009
Rod Watson, agent with Miles Real Estate Ivanhoe, said Eaglemont had long been a sought-after suburb, renowned for its recreation areas. "The suburb is well known for its private parks. Exclusive access to private parks for the people who live and own the properties; it's somewhat like the old English common. Other people cannot access these parks," he said. (Sydney Morning Herald -- Australia)
Silver lining in rental storm clouds May 16, 2009
" According to the report, real estate investment trusts also need an equity injection to reduce gearing, allowing the market to clear the glut of properties, establish realistic price levels and restore confidence. In the past three weeks almost $4 billion has been raised by the trusts, the most recent being the $1.98 billion by Stockland during the week to shore up its balance sheet. "But investors need to be confident that prices have troughed and, importantly, they need to see renewed life... (Sydney Morning Herald -- Business)
Trusts' debt mountains worry lenders May 16, 2009
NEARLY $4 billion has been raised by the real estate investment trusts in the past three weeks, but all the funds are likely to be channelled straight to their bankers and financiers ... Moody's Investor Services says the Australian real estate investment trust sector, as a whole, continued to face refinancing risk. (Sydney Morning Herald -- Business)
Minister's friend on fraud charge May 15, 2009
A CLOSE friend and political ally of the NSW Minister for Trading, Virginia Judge, who has been embroiled in a fight to keep a fountain in the middle of Strathfield that has her name on it, has been charged with fraud in relation to the disappearance of almost $8000 from a real estate office ... One of those who has been working to preserve the fountain, which has a plaque honouring Ms Judge, is Matthew Blackmore, who was recently charged over the disappearance of $7915 from Elders real estate... (Sydney Morning Herald -- Australia)
