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RISMEDIA, April 1, 2010—(MCT)—A national index of home prices rose unexpectedly in January 2010, with California cities posting strong gains, but some experts warned that the nation’s struggling housing market could be headed for another dip.

The closely watched Standard & Poor’s/Case-Shiller index of 20 metropolitan areas rose 0.3% from December on a seasonally adjusted basis. That marked eight consecutive months of home values improving or at least holding steady.

The index also was down 0.7% from the same month last year, the nearest that the year-over-year reading has come to positive territory in three years.

But expectations about housing’s direction remain mixed as a series of government initiatives intended to bolster sales and stabilize values begin to expire.

Concern over a potential new wave of foreclosures also remains high despite new efforts by the Obama administration to keep struggling borrowers in their homes. “Going forward, forces that will bring home prices back down are mounting,” said Patrick Newport, an economist for IHS Global Insight. “Our view is that despite this report, prices have further to fall—about another 5%.”

The Case-Shiller index, which covers three months of data, was influenced by a sales surge in November when buyers rushed to take advantage of a federal tax credit for first-time purchases before its initial expiration. Sales fell in December and January, even though that program was expanded and extended through April. Although many economists expect the extended tax credit to give sales a further boost, they also expect another fall once the government incentive ends.

“It is way too early for this market to have rebounded the way it has,” said Christopher Thornberg, principal of Beacon Economics.

A breakdown of the index showed mixed results with 12 cities posting increases and the rest decreases. When left unadjusted for seasonal variations, the 20-city index fell 0.4%.

Economists surveyed by Bloomberg had expected the index to fall in January.

David M. Blitzer, chairman of S&P’s index committee, said he was concerned with the slow construction of new homes, falling sales volumes and a potential wave of new foreclosures hitting the market this year. “We can’t say we’re out of the woods yet,” Blitzer said.

But others saw the improvements as a sign that the economic recovery was beginning to help consumers gain confidence. “What people are seeing in the stock market, and what people are feeling, is the beginning of a real recovery,” said Karl E. Case, a professor at Wellesley College and co-creator of the index.

“Now that the economy is starting to come back, I think the psychology has changed,” Case said.

California cities posted solid gains with the Los Angeles metropolitan area up 1.8% to lead the index. San Diego gained 0.9%, and San Francisco rose 0.6%. Richard Green, director of the University of Southern California Lusk Center for Real Estate, said Southern California is showing strength because it was one of the earliest markets to get hit and is rebounding now before other areas. “We fell first, we fell deeply and we didn’t overbuild the way other parts of the country did,” he said. “And if you look at the long-term horizon, the amount of housing built relative to population was less than other places, and it is still really hard to build new houses here,” he said. That means the chances of recovering sooner are good, Green said.

Thornberg attributed the gains primarily to federal government programs and said most of Southern California’s housing gains are a result of fewer foreclosure properties on the market. The falling number of available foreclosures is pushing prices up on lower-end housing, though home prices continue to fall in pricier neighborhoods. “The bottom has been surging up,” Thornberg said. “It really is about the low-end.”

Chicago fell the most—0.8%. Others losing ground included Seattle, Atlanta and Denver. The housing market is likely to be affected soon by the expiration of certain government policies. The Federal Reserve plans to end its $1.25-trillion mortgage-bond-purchase program in the next few days. The program, which has kept interest rates at rock-bottom levels, has helped the Fed buy nearly all the mortgage bonds from housing finance giants Fannie Mae and Freddie Mac, replacing most private investors last year.

At the end of April, the federal tax credit program for first-time buyers and for some current homeowners is scheduled to expire. The program provided up to $8,000 to first-time buyers and up to $6,500 to certain current homeowners.

Also, the Federal Housing Administration, which has stepped up its support of low-interest mortgages for first-time buyers, is tightening its lending standards.

Many economists also remained concerned about a potential wave of foreclosures swamping the market in coming years as borrowers who owe more on their homes default.

The Obama administration late last week unveiled new measures at getting lenders to reduce the principal balances on problem mortgages and refinance underwater homeowners. Experts remain skeptical about whether the changes to the $75 billion Home Affordable Modification Program will help the program reach its goal of keeping 3 million to 4 million homes out of foreclosure through 2012.

(c) 2010, Los Angeles Times.

Distributed by McClatchy-Tribune Information Services.

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RISMEDIA, April 1, 2010—The median price for single-family homes sold in Massachusetts during the month of February 2010 jumped 8.4% compared to a year earlier, the third consecutive month of year-over-year increases in prices, according to a new report from The Warren Group, publisher of Banker & Tradesman. The uptick in home prices comes as single-family home sales escalated 13.5% in February.

“The local housing market has definitely gained momentum in the last few months as single-family home sales have risen year-over-year for eight months in a row. The increase in sales volume has helped fuel pretty significant gains in median prices over the last three months,” said Timothy M. Warren Jr., CEO of The Warren Group.

Warren added, “There’s growing confidence in the housing market. Historically, median prices have increased after consistent gains in sales volume, but there is real concern about what will happen to home sales once the federal government withdraws its support of the housing sector, including ending the home buyer tax credit.”

The median price for a single-family home climbed to $269,950 from $249,000 in February 2009. The year-to-date median home price is up 9.8% to $280,000 from $255,000.

Median prices increased in most regions, with the exception of the western part of Massachusetts. The median selling price in February fell in Franklin, Hampden and Hampshire counties.

In Franklin County, the median home price slipped 7.2% to $165,500 in February from $178,250 in February 2009. Hampden County’s median home price fell 6.3% to $150,000 from $160,000 during the same period, while Hampshire County’s median home price dipped 3.9% to $218,500 from $227,250.

Statewide, single-family home sales shot up 13.5% to 2,066 in February from 1,820 in February 2009. A total of 4,143 single-family home sales transactions were recorded in the first two months of the year, a 10.6% increase from 3,746 in the same months in 2009.

February condominium sales also increased, posting the sixth consecutive month of year-over-year gains. There were 939 condo sales in February, up 8.9% from 862 the prior year. Year-to-date condo sales surged 15.7% to 1,931 from 1,669 last year.

The median price for condos sold statewide in February increased 6.8% to $235,000 from $220,000. February was the fourth straight month that median prices have risen when compared to a year earlier. The median selling price for condos sold in January and February was $240,000, 10.6% higher than the $217,000 median price recorded a year ago.

For more information, visit www.thewarrengroup.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

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RISMEDIA, April 1, 2010—The real estate brokerage industry is in the process of coming out of a significant storm that has wreaked havoc on a large percentage of firms. Some have failed, some are hanging on, and yet others are reinventing themselves for the future. Regardless of your company’s situation, it’s time to assess where you want to be in the next few years and what it’s going to take to get there. Doing nothing is simply not an option.

For three years, innovation has been stifled due to the fact brokerages have been in “survival mode” and investments in the future, by necessity, have been largely ignored. Unfortunately, the expectation of agents and consumers has never been higher, thus forcing the industry to now start playing catch-up as the market begins to show signs of life.

Some brokerages see the next 24-36 months as a time of unprecedented opportunity to reinvent themselves and consolidate market share. Others, due to age or financial limitations, see quite a tough road ahead as it could take years to get back to earning levels that would allow for a reasonable exit.

If a brokerage does not have the time or capital to reinvent, what are its options today?

As 2010 continues to unfold, two camps exist:

Sellers: There are many reasons, personal and otherwise, why an owner decides to sell. Due to the circumstances that have led us to this point in time, several things are undeniable:

- Brokerages must innovate and reinvent in order to be viable in the future.
- Most brokerages have lost most, if not all of the value they had three years ago.
- It will take several years for those valuations to return (if they ever do) and that is only if the innovation and re-invention mentioned above are successfully accomplished.

If these brokers are not willing or able to invest the time, effort, and dollars necessary to adapt to the new real estate brokerage paradigm, their best option might be to consider an exit today and leave that task to others.

Buyers: Over the past 12-24 months, with few exceptions, brokerages have been reluctant to do any sort of expansion. Brokerages with resources and vision are seeing 2010 and 2011 as opportunities to consolidate market share and, in the process, recruit solid talent. These opportunities exist for the following reasons:

- Due to the reasons given above for those who might be sellers today, buyers have the opportunity to increase company dollars and consolidate market share while making investments necessary to reinvent.

- Many local and regional markets are lacking in leadership and innovation. Those who are giving sellers a dignified exit strategy while creating the tools and systems to succeed in the future will be seen as leaders and great destinations for selling brokerages and agent recruits alike.

As the industry continues to maneuver and gain solid ground in the midst of seismic changes, 2010 represents the year of reckoning regardless of which camp a brokerage falls into. Whether to sell or buy depends largely on one’s desire or ability to invest in a wholesale reinvention.

Jose Perez is the president of PCMS Consulting, a full service consulting, sales and management organization that specializes in real estate industry issues.

For more information, visit www.pcmsconsulting.com or e-mail jperez@pcmsconsulting.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

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RISMEDIA, April 1, 2010—When it comes time to remodel, many homeowners think “do-it-yourself” or DIY is the smartest and most cost effective way to get the job done. And while popular TV shows on HGTV and publications at the home improvement store boast the ease of such projects, Jeff Brecko, vice president of Aurora Custom Remodeling, advises homeowners to take an in-depth look at their project and consider all options before tackling such a large undertaking.

“DIY projects can be great if you are taking on a small project, but when remodeling major portions of a home, such as a kitchen or bathroom, there are many structural and design elements that need to be considered,” said Brecko, who also serves as the 2010 chair of the Northeast Florida Builders Association’s Remodeler’s Council. “Essentially, there are five aspects that must be considered when deciding whether to hire a professional remodeler versus doing the project yourself. Those aspects include design, quality, time, money and warranty.”

Brecko said the design aspect of a remodeling project is paramount to its success. A professional remodeler can take a homeowner’s idea and transform it into reality with an addition or renovation. The years of experience a homeowner gets when they hire a professional remodeler will make the project better and this expertise is invaluable in designing a project to fit within an existing structure and budget.

Quality is the next facet a homeowner must look at when remodeling. The quality of a professional remodeling job will be far superior to that which a homeowner will receive if this is their first time remodeling, Brecko said. Professionals are able to guarantee better subcontractors at better prices with better leverage. Though a homeowner may find excellent subcontractors by contacting friends who have remodeled, checking references and calling past clients, they are unlikely to secure the pricing and warranty a professional remodeler will command.

Everyone knows time is money, and that is especially true when it comes to remodeling. A professional remodeler will ensure the project stays on time and within budget by perfecting the plans before the job begins, creating a thorough scope of work, hiring the qualified subcontractors and vendors ahead of time and properly supervising the quality of work. If it is necessary for a client to move out of their home during the renovation, a professional remodeler can save them extended rental costs by maintaining a deliberate pace of construction according to a pre-planned construction schedule.

“Many remodeling projects become the victim of the best intentions,” Brecko said. “A professional remodeler will employ systems to ensure that the project stays on schedule to protect not only their bottom line, but more importantly, their reputation.”

The last aspect Brecko recommends considering on a remodeling project is the warranty that comes with a professional company. When homeowners hire a professional, they are buying a service more than a product. A professionally managed job will have quality built in and will require less maintenance and fewer warranty calls on products.

“When you hire a professional remodeling team, you can expect motivated individuals who desire your complete satisfaction,” Brecko said. “Homeowners deserve to have someone working on their home who has experience, knowledge and the wherewithal to back up their work and reputation.”

For more information, visit www.aurorabuilders.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

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RISMEDIA, April 1, 2010—CoreNet Global research conducted during the worst recession in modern time shows that corporate real estate (CRE) helped lead corporate strategy in 2009 and early 2010 in battling the effects of the economic downturn with long-term solutions for optimizing future business growth. CoreNet Global’s annual State of the Industry Report synthesized research results from the past 12 months of research about a variety of major business drivers like real estate portfolio consolidation.

CoreNet Global is one of the world’s leading professional associations for corporate real estate executives, service providers and economic developers.

According to the Report, corporate real estate responded effectively to the C-Suite call for immediate bottom line impact after Black October 2008 with rapid cost savings, higher-than-usual reduction of space, faster-than-normal uptake of mobility and other workplace solutions, and greater emphasis on sustainable practices such as energy efficiency and green buildings over more intensive LEED certification efforts.

Although there is still a tendency for corporate real estate to be seen as a cost-cutting toolbox, research points to it becoming a more proactive strategic partner within the enterprise. As large multinationals were forced to gain control of assets and measure their performance for long-term goals, they began to rely more heavily on corporate real estate as a proactive strategic partner to the business, according to CoreNet Global Board of Directors member Mark Gorman, a partner and senior managing director at Newmark Knight Frank and former head of Nortel’s corporate real estate efforts.

“Long-term strategy is actually becoming a reality,” said Gorman. “I have to give credit to this crisis. There really is true strategic thinking and planning going on now in a very meaningful way.”

Even so, CRE executives are still battling the “boom or bust” phenomenon characterizing last decade’s economy. As economic cycles become more compressed, CRE’s ability to be effective is challenged by cost-cutting pressure, or what CoreNet Global’s 2009 State of the Industry Report described as “value creation versus value protection.”

That is why, at the outset of the downturn, cost reduction as an immediate fix to the crisis was prevalent with more than 40% of respondents (in an October 2008 survey of CoreNet Global Summit attendees). Deferment of capital projects rated the highest for approximately 70% of respondents. Restructuring leases was next most popular, followed by office-space redesign and densification, reduced or deferred maintenance, early lease termination options and acceleration of projects reducing costs.

“It’s not surprising. In times of crisis, people are going to look at what they can change to impact the bottom line, but the changes are no longer cyclical,” Gorman said. The difference is that executives are starting to move away from the vicious cycle where long-term strategy meant surviving the quarter.

Alternatively, this emphasis on portfolio consolidation as a primary cost-reduction action has provided the business case for adopting or expanding the use of Alternative Workplace Strategies (AWS) such as workplace mobility in the corporate real estate portfolio, as a CoreNet Global/Steelcase study demonstrated. In this study, 69% of the 194 corporate real estate respondents indicated that they employ AWS, and 73% are doing it to reduce costs.

As a CoreNet Global/Jones Lang LaSalle survey showed, sustainability also played a role in elevating real estate and corporate real estate professionals within the enterprise. An average of 28% of respondents indicated they are highly involved in every aspect of their companies’ sustainable endeavors compared with 18% in 2008. Further, more than 40% rated sustainability of “medium” importance in enhancing interaction with senior management, and more than 40% gave high importance to sustainability as an expression of personal values and contributor to professional development.

For more information, visit www.corenetglobal.org.

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RISMEDIA, April 1, 2010—Better Homes and Gardens Real Estate LLC announced the addition of Suzanne Anderson Properties, a leading Houston-based real estate brokerage, to its growing national franchise network. According to the company, Suzanne Anderson Properties will now operate as Better Homes and Gardens Real Estate Anderson Properties. With this new affiliation, the Better Homes and Gardens Real Estate network now has more than 100 offices and 4,700 sales associates in 14 states.

“Anderson Properties is a mainstay in the communities in which it serves, growing and thriving in this difficult economic time through the dedication of its hardworking agents,” said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC. “We are thrilled to help support the company’s existing efforts and to provide it unparalleled resources and industry know-how that will take Better Homes and Gardens Real Estate Anderson Properties into the next generation of real estate. The group is the perfect partner to help our brand grow into an important new region of the country.”

Better Homes and Gardens Real Estate Anderson Properties was founded in 1980 by Suzanne Anderson, who grew the brand from a small office to a recognized boutique agency. In order to focus on her clients, Anderson turned the operational reins over in 2005 to the current managing broker, Mike Huff, who has since grown the company to more than 100 agents at 3 offices in the Houston area, as well as offices in Trinity, Galveston and Austin. Huff will continue to operate as the company’s broker and owner.

“We have long strived to build an atmosphere at Anderson Properties that is focused on relationships and ethical conduct, while encouraging an entrepreneurial spirit,” said Huff. “Those attributes are what we have become known for in the Houston area and surrounding communities. With Better Homes and Gardens Real Estate, we look forward to building on 30 years of success and growth as we aim to take full advantage of the improving marketplace and reach new consumers through a strong brand presence and with new and impressive agent tools.”

Better Homes and Gardens Real Estate Anderson Properties plans to grow under its new brand name and affiliation, by adding agents, expanding into new cities across Texas, and acquiring new, like-minded companies. Its agents look forward to harnessing the full power of Better Homes and Gardens Real Estate’s expansive tools and technologies, which Huff says will only add to the effectiveness and dedication of his best-in-class agents.

“With a respected brand name and expertise in the industry as both a thought leader and a trail blazer, our new affiliation with Better Homes and Gardens Real Estate will bring us new opportunities in the coming years and we intend to allow those opportunities to take us wherever we need to be,” Huff added.

For more information, visit www.bhgrealestate.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

RISMEDIA, April 1, 2010—Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company, and RealtyTrac, a leading online marketplace for foreclosure properties, announced they are expanding their business relationship to more powerfully integrate RealtyTrac’s comprehensive national foreclosure data into Prudential’s national property listing website (www.prudentialrealestate.com).

According to the company, consumers using the website will be able to easily search more than 2 million default, auction and REO properties in the U.S. contained in RealtyTrac’s daily-updated database. They simply select the “Foreclosures” option in the Home Search box at prudentialrealestate.com and key in a desired location to view foreclosure properties generated in real time by RealtyTrac.

Prudential Real Estate and Relocation Services added foreclosure data to its property-search features on the site so that consumers can access pre-foreclosure and foreclosure properties (including auctions and bank-owned properties), along with MLS listings and other resources.

“Distressed properties represent a sizable portion of the current market and will continue to do so for some time,” said Earl Lee, president, Prudential Real Estate and Relocation Services. “We want to be sure our customers have the latest foreclosure information and, while working with Prudential Real Estate sales professionals, make the best property decisions.”

Nationwide, a record 2.8 million homes received foreclosure notices in 2009, a 21% increase from 2008 and a 120% increase from 2007. Foreclosures could continue increasing as mortgage loans reset during the next 12 to 18 months.

“Consumers must arm themselves with the best information available and the best representation to successfully navigate the foreclosure and short-sale market,” said Lee. “You can secure both very quickly at prudentialrealestate.com.”

Rick Sharga, RealtyTrac senior vice president, said his company strives to make the foreclosure-buying process easier and more convenient for real estate consumers. “We’ve recently enhanced our foreclosure data to help consumers identify the best bank-owned bargains and short sale opportunities, and we’re excited to share these powerful new features with consumers using the Prudential website.”

The expanded Prudential-RealtyTrac alliance will also allow Prudential Real Estate Network brokers, sales professionals and employees to take advantage of the RealtyTrac Professional program, a proven online marketing channel designed to help real estate professionals generate new leads and new business opportunities from the red-hot foreclosure market.

For more information, visit www.realtytrac.com and www.prudential.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Driving Competitive Advantage with Sustainability
Thursday, April 15th 2010
8:00am to 5:30pm
Embassy Suites at Logan Airport, Boston, MA

This full day conference provides case studies, advice, and networking to help drive competitive differentiation involving sustainability for corporations.
Attendees include VP/Director of Sustainability, VP/Dir Marketing/Supply Chain, VP/Dir EHS, VP/Dir Facilities, VP/Dir of Environmental Affairs, and CFO/IR.
Firms who supply Walmart, report to CDP, or who are following the impact of the recent SEC ruling on climate disclosure should also attend.
Groom Energy

Posted by:
TransDomo, LLC
Klaus Westerwelle
8 Briarpark Drive
Greer, SC 29651
Phone: 864.908.0690
Email: info@transdomo.com
International Business Consulting: Transdomo
International Real Estate / Immobilien : Westerwelle

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A developer who invested in neighborhood comebacks in New York and Philadelphia is trying to do the same in an industrial area of Miami.

New York is trying to sell the former Federal Building No. 2 in Brooklyn, a 1.1-million-square-foot structure.