commercial properties: Stimulus Help for CA - 04/06/09 03:18 PM
While catching up on March’s reading, I spied an encouraging article by Eric Young in the SF Business Times’ 3-6-09 issue. It talks about the stimulus money for CA. It is estimated that CA will be receiving $45 billion from the federal stimulus cash. In addition to the money earmarked for education, infrastructure, unemployment and health care, CA may also receive $35 billion in tax relief. While this represents about 10% of the country’s stimulus package, it’s about 5% of CA’s economy. Approximately 1/3 of that money may be used for discretionary projects, and Bay Area groups have been meeting to … (0 comments)

commercial properties: Apartment Market Construction at a Standstill - 04/04/09 11:53 PM
Erika Schnitzer at the MultiHousing News 3-18-09 online magazine writes on a compelling article on the apartment industry in Sacramento area. While fewer than 2,000 apartments are in the pipeline, only 100 new units will be delivered this year. Why? Job losses along with the land’s geography and supply constraint generates ”an oversupply of market-rate and affordable apartments and single-family homes” says Ryan DeMar, associate vice president-investments in Marcus & Millichap's Roseville, Calif. office.
Still, Sacramento has managed to move up to #21 in an analysis that ranks apartment markets. Rents are either flat are or being lowered for new leases … (0 comments)

commercial properties: Finally, a “Decent” Investment - 04/04/09 11:49 PM
Just saw some encouraging investment information in the Multi-Housing News online 3-18-09 issue in the form of an article written by Anuradha Kher. Basically, there are optimistic views out there about housing recovery, from - among others - The Northern New Jersey District Council of the Urban Land Institute (ULI-NNJ.
“This crisis is an opportunity to redefine fundamentals,” ULI-NNJ Chair Lawrence F. Jacobs of the law firm of Wilentz, Goldman and Spitzer said at the Emerging Trends in Real Estate conference held in New Jersey recently. “ULI believes that the market will take a critical approach to land values based on … (0 comments)

commercial properties: Finally, a “Decent” Investment - 04/04/09 11:22 PM
Just saw some encouraging investment information in the Multi-Housing News online 3-18-09 issue in the form of an article written by Anuradha Kher. Basically, there are optimistic views out there about housing recovery, from - among others - The Northern New Jersey District Council of the Urban Land Institute (ULI-NNJ.
“This crisis is an opportunity to redefine fundamentals,” ULI-NNJ Chair Lawrence F. Jacobs of the law firm of Wilentz, Goldman and Spitzer said at the Emerging Trends in Real Estate conference held in New Jersey recently. “ULI believes that the market will take a critical approach to land values based on … (0 comments)

commercial properties: Borrowers Look for Safe Haven - 03/30/09 10:53 PM
Browsing through the March/April issue of Apartment Finance Today, an article written by Jerry Ascierto seemed worth passing on to you. Multifamily lenders, going through mass consolidation, have left borrowers looking for safety and have found Freddie Mac and Fanny Mae to be their safe havens.
GSE’s (government sponsored agencies) are providing liquidity while lenders scramble to right themselves. “Freddie and Fannie gained more market share in 2008 than they have ever had in the past,” says John Cannon, head of agency lending at Capmark Finance. “And our FHA pipeline has never been higher.”
To read this article in its entirety … (0 comments)

commercial properties: Cap and Trade Programs - 03/30/09 10:29 PM
In looking over the Affordable Housing News magazine recently, I spied an article written by Jerry Ascierto in the Housing Finance News section on Cap and Trade Programs.
Many countries already use such systems (from the Kyoto Treaty days). What they do is give credits or permits depending how much carbon emissions are emitted in a year. Last month, President Obama called for these same systems to be implemented here. Proceeds gained might be used for energy efficiency in existing multifamily properties.
“We need to make sure that there’s financing available to do retrofits, to really drive deeper energy efficiency in … (0 comments)

commercial properties: Top Off Your Investment - 03/30/09 08:57 PM
Jennifer Popovec from the November 1, 2008 Multifamily Executive Magazine once again has delivered an interesting and informative article, this time on rooftop choices. Depending on your budget and style preferences, you have some new and fascinating picks, such as EnergySmart Roof membranes from Sika Sarnafil which help reduce the heat island effect for buildings with flat roofs. These highly reflective membranes minimize heat gain and are appropriate for adhered systems and long term exposure to the elements.
One of the biggest investments multifamily owners and developers face are roofs and they have a big impact on the look of the … (0 comments)

commercial properties: Renting vs. Buying Controversy - 03/24/09 10:25 PM
Still leafing though magazines from earlier this year, I found a article I felt was worthy of sharing with you. This just in from Chris Wood in the Multifamily Executive Magazine, January 1, 2009.
A renting vs buying analysis was recently done and released last fall by the Washington, D.C.-based Center for Economic and Policy Research (CEPR). Said analysis sadly projects that “homeowners in 32 of the country's 100 largest metro areas will likely accrue negative equity until the year 2012”. This study, The Changing Prospects for Building Home Equity: An Updated Analysis of Rents and Price of Housing in 100 … (0 comments)

 

Pete Chrzaszcz

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