Rate rise prompts rush to fix loans Oct 7, 2009
" Reserve Bank Governor Glenn Stevens made it clear that yesterday's rise would be the first of a number; the only clue he gave about their timing was that they would come "gradually". Financial markets took the word "gradually" with a grain of salt. By the close of trading they had priced in a 71 per cent chance of a second rate rise next month, when the Reserve board meets on Melbourne Cup day. Real Estate Insitute of Queensland managing director Dan Molloy said further rate rises could halt... (Sydney Morning Herald -- Business)
Crown sells land neighbouring casino complex Oct 6, 2009
The sites at 141-145 City Road and 147-155 City Road have attracted national and overseas interest and could accommodate a big, high rise residential development, commercial real estate firm CB Richard Ellis says in a press release. Crown Melbourne chief executive David Courtney said in the statement the area had been home to Crown College, an extensive training facility, for 15 years. (Sydney Morning Herald -- Business)
Developers' lobby 'shifted' freeway route Oct 5, 2009
A local real estate agent said land in the area not zoned for residential development would be worth between $20,000 and $50,000 an acre. Land zoned for housing would be worth about $120,000. (Sydney Morning Herald -- Australia)
Australia Services Industry Shrinks at Slower Pace Amid Stimulus Spending Oct 5, 2009
The report 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. While it is clear that a level of confidence is returning to the sector, we shouldnt get ahead of ourselves, said Australian Industry Group Chief Executive. (Bloomberg -- Australia & New Zealand)
Record low tied at Daytona Beach... Oct 3, 2009
Real Estate Information. Sponsored Links. (The Drudge Report)
Melbourne median house price hits $520,000 Oct 3, 2009
The Real Estate Institute of Victoria released the figures today, saying this was the highest increase it has ever recorded and a clear sign the residential property market had recovered from the global financial crisis. The median price of a Melbourne home in September 2009 was $520,000, compared to $488,944 for the previous month. (Sydney Morning Herald -- Australia)
Brevard Naturally: The mouse Brevard Zoo built Oct 3, 2009
Unfortunately, those restricted ranges, coupled with penchant for living on prime oceanfront real estate, have led to a serious decline in beach mice populations. All of the subspecies are federally listed as either threatened or endangered except for the Santa Rosa. (Florida Today)
From Big Mac to 'who's that burgher?' Oct 2, 2009
PROPERTY PEOPLE The expensive game of investment banking musical chairs continued yesterday, when JP Morgan announced it had found some people to help fill the desks vacated by its property team who recently fled to UBS (to help fill the empty desks left by the Swiss bank's real estate team who fled to Merrill Lynch). JP Morgan's Australian boss, Rob Priestley, and the head local banker Grant Dempsey, in an email to staff yesterday, confirmed the appointment of the Hong Kong JP Morganite Anthony... (Sydney Morning Herald -- Business)
David Jones May Return Cash to Investors After Posting Higher Net Income Sep 24, 2009
David Jones May Return Cash to Investors After Profit Increase - Bloomberg. Updated: New York, Sep 24 04:17 London, Sep 24 09:17 Tokyo, Sep 24 17:17. (Bloomberg -- Australia & New Zealand)
Taswegians fail to stem the marauding hordes Sep 22, 2009
And let's not even get started about real estate prices here which, approaching mainland levels as they are, are receding out of reach of ordinary young Tasmanians who earn far less than those in other states. Southbound | Tassie - September 22, 2009, 8:02AM. (Sydney Morning Herald -- Opinion)
Media moguls with pollies on the menu Sep 22, 2009
" Kevin, being the proper fellow he is, had at least invited Rupert to dinner at the Australian consul-general's place in New York. Neutral ground, with the balance slightly in the Prime Minister's favour. Wasn't the way in the old days. Once upon a time, all the big media moguls had very fine houses in the best part of Canberra's Red Hill, hardly a kilometre from Parliament House. The princes of print and the queens of the screen, as Paul Keating called them (risking a good thrashing from Kerry... (Sydney Morning Herald -- Opinion)
New law promises help for tenants Sep 21, 2009
The situation has become so prevalent that real estate agents now typically check court records to make sure a house is not in foreclosure before allowing a tenant to sign a lease. "It wasn't something we did two years ago," said Timothy McWilliams, president of the Melbourne Area Association of Realtors. (Florida Today)
A fishy tale as two hook $100,000 Sep 20, 2009
Nimbin real estate agent John Wilcox had a similar tale: ''A bloke told me he found $30,000 in a brown paper bag in a phone booth here in Nimbin. . (Sydney Morning Herald -- Australia)
Tree rules may face pruning Sep 15, 2009
And Brian Lightle, president of the Melbourne-based Lightle Commercial Inc., a real estate brokerage, cautioned against restrictive landscape ordinances. Most builders and developers want to protect the environment as much as anyone, Lightle said. (Florida Today)
More Americans going back to school to reinvent themselves Sep 14, 2009
INDEPENDENT-ENTERPRISE. NEWSPAPERS IN EDUCATION. (Ontario Argus Observer, OR)
Housing prices up for big test Sep 12, 2009
Real Estate Institute of Victoria chief executive Enzo Raimondo said stable economic conditions were the key to maintaining underlying demand. Week after week the market has held up, achieving results that have not been expected by anyone,'' he said. (Sydney Morning Herald -- Australia)
First home buyers priced out even at the lower end Sep 10, 2009
With government grants to be scaled back from the end of this month, real estate pundits have been predicting a spike in first home buyer activity ... Prices in Melbourne's outer suburbs have since ballooned b 00004000 y as much as 18 per cent, according to the Real Estate Institute of Victoria. (Sydney Morning Herald -- Business)
INSIDE SALES - Melbourne Sep 8, 2009
Employee Type: Full-Time Industry: Sales - Marketing Real Estate - Property Mgt Manages Others: No Job Type: Sales Marketing Business Development Experience: Not Specified Post Date: 9/7/2009 Contact Information Phone: 407-965-0760 x 33 Description ... AMERACO is an acronym for the American Real Estate Acquisition Corporation ... Our trademark system, Find It And Fund It, is the breakthrough result of nearly 20 years of real estate experience. (Florida Today)
Grossi Florentino Sep 3, 2009
But the point of this piece is to consider specifically the Mural Room, the rarefied bit of real estate that most people think of when the name Florentino is raised. Physically, it remains very much the same: a piece of old world, dark-panelled mise en place that makes anyone ascending those red-carpeted stairs feel rather special. (Sydney Morning Herald -- Entertainment)
Investment property first? Aug 26, 2009
He also turned his hobby into his business: he is now a director at MAP Real Estate and advises clients on building investment property portfolios ... Of course real estate agents don't often spruik these facts and without doubt over the last 10 years property has gone gangbusters in Melbourne ... investors crowding out potentially legitmate homeowners (1) negative gearing is a tax rort and should be banned, no other country allows it (2) housing is a vital social need,it is TO LIVE IN, it... (Sydney Morning Herald -- Business)
Home sales climbing Aug 22, 2009
Gene Collins, broker-owner of Collings iates Real Estate in Palm Bay, said the drop in prices -- coupled with an $8,000 tax credit and low mortgage rates--have lured a lot of people into buying their first homes. "People are getting priced into the market, where two or three years ago, they were getting priced out of the market.". (Florida Today)
Carsales in gear for growth Aug 22, 2009
Claiming a market share of about 60 per cent, Carsales is in the same league in automotive as Seek in employment and REA Group in real estate. Carsales has more than 150,000 cars listed at any time, double the nearest competitor. (Sydney Morning Herald -- Business)
CountryWide sticks with Macquarie Aug 22, 2009
Mr Sewell said the past year was one of the hardest for the real estate sector and as a result the trust's annual distributions were 7 a security, down from 15 in the previous year. Based on present estimates, distributions are forecast to be about 6 a unit for this financial, reflecting a payout ratio of 75 to 85 per cent of core earnings. (Sydney Morning Herald -- Business)
Google's frenemies ensure virtual lead Aug 20, 2009
au, Australias dominant real estate listings website. REA has come out guns blazing against Google but interestingly its biggest shareholder, News Limited, has remained mute on the matter. (Sydney Morning Herald -- Business)
Your views: Political punches Aug 20, 2009
Posey right to reject bills he hasn't readBoth members of Congress who represent Brevard County are Florida licensed real estate brokers. The cap-and-trade bill, into which Democratic Rep. (Florida Today)
Loan defaults set to rise: RBA Aug 19, 2009
Rising share and real estate markets suggest Australia's economy. Today in Business. (Sydney Morning Herald -- Business)
US housing starts, producer prices fall Aug 19, 2009
"While construction activity in the single-family segment has started to pick up, the multifamily segment stays on a clear downward trend. This is the result of ongoing financing problems in the commercial real estate sector and stubbornly high vacancy rates.". Compared to July last year, housing starts dropped 37. (Sydney Morning Herald -- Business)
Boom times are back Aug 19, 2009
Real estate agent Kay and Burton is investing in the kind of campaign that has not been seen since the caviar and string quartets that accompanied the sale of luxury property during the 2007 property boom. The global financial downturn hit the top end of the residential market hardest and sales are still comparatively quiet, with the lack of activity reflecting decreased demand and vendors' unwillingness to put quality stock on the market. (Sydney Morning Herald -- Business)
Federal shape rule costly for developer Aug 18, 2009
"I just think it's outrageous how they did this," said Brutz, a real estate attorney who splits time between Brevard and Atlanta ... The recommendation to move the Social Security Administration Building instead of expanding was made by a real estate broker in the Washington area who has never visited Brevard County, Brutz said. (Florida Today)
Family to sue over $7.3m Brighton auction Aug 15, 2009
3 million Brighton beachfront mansion last weekend is taking legal action against the selling real estate agent for allegedly accepting two bids after the hammer fell ... Meanwhile, several real estate agencies have started handing out pricing guidelines at open for inspections in reaction to the Consumer Affairs crackdown on underquoting. (Sydney Morning Herald -- Australia)
What if you win? Aug 15, 2009
In light of what's happened on Wall Street and with the real estate market, not to mention bank bailouts, rising unemployment, a brutal recession, and the Bernie Madoff scandal, you might think prospective Powerball players would have new approaches to how they'd manage their winnings if they got astronomically lucky tonight ... "I would invest half in real estate, especially large acres of vacant land all over the United States," said Jenny Wolverton, a 36-year-old Cocoa Beach stay-at-home mom... (Florida Today)
Housing, jobs bolster consumer sentiment Aug 12, 2009
2 per cent in the June quarter, according to the Australian Bureau of Statistics, defying the global trend of real estate asset deflation triggered by the financial crisis. The report noted other positive factors, including a 12 per cent rise on the sharemarket between the June and July surveys. (Sydney Morning Herald -- Business)
Property market's good weekend Aug 10, 2009
PROPERTY analysts are predicting continued recovery in the real estate market after a weekend of strong sales but warn that changes to the Federal Government's first-home buyers grant and the prospect of rising interest rates may slow demand ... The Real Estate Institute of NSW also said the figures pointed to improved conditions ... But the real estate industry is also concerned the market may flatline or even fall in 2010 if interest rates climb, as analysts predicted last week, and as the... (Sydney Morning Herald -- Australia)
Stock options at issue in bankruptcy Aug 10, 2009
The reorganized company would issue all of its new stock to Real Estate Investment Ventures (REIV), a separate family company ... The fund's administrator halted payouts from the ESOP in 2005, after real estate collapsed and Mercedes started laying off staff. (Florida Today)
Experts offer help for new homebuyers Aug 9, 2009
Homebuyer forums are being held across the United States as officials try to get the word out about affordable housing programs and try to boost interest in the sagging real estate market. Saturday's forum, held at the Maxwell C. King Center in Melbourne, was sponsored by U.S. Sen. (Florida Today)
Probe finds underquoting breaches Aug 8, 2009
SEVERAL Melbourne real estate agents are facing potential prosecution after Consumer Affairs found more than 100 breaches of the law against underquoting ... Documents were seized from more than 80 real estate agents last week, chiefly in the western and northern suburbs ... "We'll be taking a closer look at some files,'' she said. ''Agents found engaging in dubious practices will be investigated.'' Since the raids, many agents have stripped price estimates from advertising and websites, and are... (Sydney Morning Herald -- Business)
Job gains put heat on rates Aug 7, 2009
Real estate industry data shows average house price in June was up. Today in Business. (Sydney Morning Herald -- Business)
Property shake-up as Centro and GPT face home truths Aug 7, 2009
"The last couple of years have been disappointing for investors across the real estate sector," chief executive Michael Cameron said ... GPT last week cut the valuation of the Australian real estate holdings it wants to keep by 6. (Sydney Morning Herald -- Business)
Matt Reed: Expect a spike in growth proposals among landowners Aug 2, 2009
I spoke with two private planning consultants, four government officials, a couple of land-use attorneys and a real estate sales and appraisal expert, all with deep knowledge of Brevard ... Bob Lichtenberg, a West Melbourne appraiser and commercial real estate expert, said, "That's what anybody with any sense would do -- because everybody objects to every subdivision.". (Florida Today)
TA Enterprise to launch projects worth RM2bil next year Aug 1, 2009
KUALA LUMPUR: TA Enterprise Bhd plans to launch a few property projects with a total gross development value (GDV) of over RM2bil next year due to an improving real estate market, said managing director and chief executive officer Datin Alicia Tiah. The projects include a boutique residential development at Jalan U-Thant with a GDV of RM110mil and a condominium development at Dutamas worth RM300mil in GDV.. (The Star Online, Malaysia)
Watchdog raids real estate agents Jul 30, 2009
Consumer Affairs Victoria raids real estate agents ... Consumer Affairs Victoria has conducted a blitz of more than 60 Melbourne real estate agents office looking for evidence of misleading price advertising ... CAV visited offices in Brunswick, Clifton Hill, Coburg, Craigieburn, Essendon, Pascoe Vale, Point Cook and Werribee to give it a broad picture of the Victorian real estate market. (Sydney Morning Herald -- Business)
House prices surge at top end Jul 30, 2009
Meanwhile, Consumer Affairs Victoria has confirmed that it raided the offices of 60 real estate agents on Tuesday in a blitz on underquoting. The consumer agency seized authority documents showing how much vendors were expecting for their property. (Sydney Morning Herald -- Business)
House sales driven by first-home buyers Jul 29, 2009
"Clearly more needs to be done.'' New home sales jumped 8 per cent in Western Australia, while South Australia house sales posted a 24.2 per cent increase. "This (South Australia) result reflected a very healthy month for several of the largest volume builders in the state," HIA said, predicting a pull-back in July. Housing market The weak home sales data comes one day after Reserve Bank governor Glenn Stevens said there was a risk a housing bubble could be formed, aided by low interest rates... (Sydney Morning Herald -- Business)
Your views: Letters to the editor Jul 27, 2009
Little relief six months after bailoutsA friend of mine, who is a real estate broker, recently told me about two elderly couples he had sold homes to during the real estate boom. Both couples are losing their homes to foreclosure, and are being forced into retirement homes. (Florida Today)
Matt Reed: Economist weighs in on issues Jul 26, 2009
For better answers on taxes, real estate and our big-spending Congress, I talked to a real one: Michael Slotkin, an economics professor at the Florida Tech in Melbourne ... Q: Has the real estate market bottomed out. (Florida Today)
Phelps sharing spotlight at worlds Jul 26, 2009
Unable to submit Real Estate, Services, and Business Investements at this time. Map the Valley. (Hanford Sentinal, CA)
Grants fuel first-home buying frenzy Jul 23, 2009
More than 5,000 Victorian first-home buyers entered the real estate market last month in a buying frenzy fuelled by the first-home owners grant. A record 5,193 first home purchases were made in June, including 1,489 newly constructed dwellings, which attract higher government incentives. (Sydney Morning Herald -- Business)
Stung for $1000 in lettings scam Jul 23, 2009
AN ONLINE scam in which prospective tenants are asked to transfer money to an overseas bank account in return for keys to a rental property has prompted a security crackdown on real estate websites. Some victims have posted their experiences in a forum on the website ScamVictimsUnited. (Sydney Morning Herald -- Technology)
More Small Business Jul 22, 2009
Australian consumer watchdog says real estate agencies involved in under-quoting and dummy bidding will be hit with fines of up to $1. 1 million from January 1. (Sydney Morning Herald -- Business)
Asian Stocks Rise for Seventh Day on Speculation Profits Will Increase Jul 22, 2009
Real estate is among the industries hardest hit by the recession, said , a senior strategist at Tokyo-based Mitsubishi UFJ Asset Management Co., which oversees about $52 billion. Tokyo Tatemono President said in an interview with the Nikkei published July 20 that Japans economy will not have a V-shaped recovery and office vacancy rates are likely to continue rising outside of Tokyo. (Bloomberg -- Asia)
Swans flock to determine the club's greatest Jul 18, 2009
"It was very, very difficult. Even just the logistics of shifting 40 players. A few of us were married, and I had a couple of kids, so we had to try and find schools, and places to live, and nobody knew the areas or where we should live, and the Sydney traffic was just chaotic after Melbourne, it was like you had moved from a country town. "The real estate prices were exorbitant, we didn't have a steady ground to train on because they wouldn't let us train on the SCG, so we trained in the car... (Sydney Morning Herald -- Sport)
Melbourne Beach couple open their backyard Eden for tour, sale Jul 18, 2009
Glover works in real estate. Her husband is a retired marine biologist and fisherman. (Florida Today)
Nothing but Blood and Gore Jul 18, 2009
Other investments include insurer Standard Chartered, online retailer eBay, stationery retailer Staples, massive real estate group Jones Lang Lasalle and one of the US's largest private landowners, forester and sometime developer the Plum Creek Timber Company. About 3 per cent of Generation's fund is invested in Swiss food giant Nestle, subject of a decades-long campaign over the sale of infant formula in the developing world, and also currently copping flak over extraction of water for bottling... (Sydney Morning Herald -- Business)
Knocker calls it wine time at Foster's - and investors lap it up Jul 15, 2009
" The prices paid in Seven Network's raid on Consolidated Media implied an earnings multiple of 8.3 for the pay TV company, the broker said. That means shares in the regional counterpart, which is trading at 7.7 times earnings, still had room to rise, and there was "further valuation upside for Austar over the longer term in the event of pay TV consolidation". Low-cost flight threat The long-haul subsidiary of the low-cost Malaysian airline AirAsia is expected to announce plans to fly daily... (Sydney Morning Herald -- Business)
The return of rental property Jul 13, 2009
Thornhill says there are big transaction costs when buying and selling property, such as stamp duty and fees to real estate agents ... au, says he discourages people from buying new real estate because it is expensive, with buyers paying the developers' costs and profits. (Sydney Morning Herald -- Business)
Female workers come into their own Jul 10, 2009
An examination of industry trends reveals employment has been growing in the fields of health care, social administration and arts and recreation while shrinking in mining, manufacturing and real estate, which appears to lend weight to Professor Wooden's suspicions. It is not the only clear feature in the latest employment figures. (Sydney Morning Herald -- Australia)
Delta proposes alliance with Virgin Blue Jul 9, 2009
for free extra services. Subscribe to Atlanta Business Chronicle. (Atlanta Business Chronicle, GA)
Group blames students over rent crisis Jul 8, 2009
The Nationalist Alternative has left leaflets around Sydney University and other city campuses offering a "pro-Aussie movement" assistance in obtaining a lease on inner-city digs, and arranging collective houses to break free of real estate agents renting to the highest bidder ... Ms O'Hara said the Nationalist Alternative wanted to secure leases on behalf of students to cut out real estate agents and reduce costs to inner-city landlords and tenants ... "This is actually the opposite of how the... (Sydney Morning Herald -- Australia)
Is panic buying sweeping property? Jul 6, 2009
The real estate agent was thrilled - a bad sign, we thought, that maybe we had paid through the nose after all. But that evening she rang us back. (Sydney Morning Herald -- Business)
Northerners show the way ahead Jul 5, 2009
Hasn't AJC real estate been sold and what about financial compensation for the Pope's Randwick visit. Sure, the AJC carries the bulk of metropolitan training, a burden for which the club does get financial compensation from the STC. Meanwhile, the new Brisbane amalgamation opened at Eagle Farm on Saturday with, among other top races, a $100,000 maiden, worth the same as the feature Rosehill race, the Civic Stakes. (Sydney Morning Herald -- Sport)
Building slump threatens buyers, tenant00004000s Jul 2, 2009
Figures from the Real Estate Institute of NSW last week said rental vacancy rates had slumped to a one-year low of 1 per cent.. The lobby group's chief executive, Tim McKibbin, said a shortage of new apartments meant tenants would be facing longer queues for rental inspections as well as rising rents. (Sydney Morning Herald -- Australia)
Asian Stocks Drop on Share Sale Concern, Lower Commodities; Baoshan Climbs Jul 1, 2009
5 percent to 986,000 yen, while Sumitomo Realty & Development Corp., Japans No. 3 real estate company, added 1. 9 percent to 1,805 yen. (Bloomberg -- Asia)
Victoria's Home Sales Rose to a Record of 5,834 in June, Herald Sun Says Jun 28, 2009
June 28 (Bloomberg) -- Australias Victoria had a record number of property sales in June, the Sunday Herald Sun , citing data from the Real Estate Institute of Victoria. By the 6 p.m. Melbourne time yesterday, 5,834 home sales were reported for the month, it said. (Bloomberg -- Australia & New Zealand)
Marika Dobbin Grants create a false promise of home being built in a day Jun 23, 2009
But while the grants have won rapturous support from industry lobbyists and those who make a crust from the turnover of real estate in Victoria, there are serious questions to be asked about their impact on housing affordability and potential to shackle young people with debt they may well not be able to afford in the future. Despite the economic gloom, a record 4946 Victorians applied for grants during May. (Sydney Morning Herald -- Business)
Bid to sell homes in giant auctions Jun 22, 2009
The couple took part in a mega-auction of 21 residences over about three hours in the hotel's reception room, a method of selling residential real estate that is new to Victoria. In-room auctions are common in Melbourne for art and antiques, and have been conducted to sell Sydney and Brisbane real estate for years ... 3 per cent clearance rate was well below Melbourne's overall clearance rate of 86 per cent in the past week, which was the best result in 18 months, according to the Real Estate... (Sydney Morning Herald -- Business)
