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June 7th Real Estate Market News

Today's news that may be of interest to you:

The Right Time for REIT's?
Bloomberg Businessweek | June 3, 2010
The June 5 acquisition of Trizec Properties demonstrates that private investors still see upside potential in office-building rents. (Anthony's note: another good article on the subject is It Might Be the Right Time for REITs, from Y!News)

What Tax Credit Did for Market
The Philadelphia Inquirer | June 6, 2010
Economist Patrick Newport recently described home sales as riding "a two-hill roller coaster" because of the now-expired tax credits.

U.S. Banks' Foreclosure Holdings Increased 12.5% in Q1: Report
DS News | June 7, 2010
Foreclosed property held by U.S. banks increased 12.5 percent to $41.5 billion during the first quarter of this year, according to a recent analysis by SNL Financial, a financial market research firm out of Charlottesville, Virginia.

Lawmakers May Sacrifice Swaps Plan for Volcker Rule in Talks
BusinessWeek | June 7, 2010
Congressional negotiators meeting to resolve differences over bank-regulation legislation are likely to retain a proprietary-trading ban and higher capital standards while stripping a measure that would bar commercial lenders from running swaps desks, said lawmakers and analysts.

The 20-Year Mortgage Alternative
The New York Times | June 6, 2010
Most people who took out jumbo mortgages during the financial crisis got hit with high interest rates as lenders and investors recoiled from anything that seemed even remotely risky.

Point and Find Commercial Real Estate with new iPhone App
San Francisco Chronicle | May 21, 2010
Is there anything the iPhone can't do? It's certainly true to say that every day sees the arrival of a new app that promises to transform your life. And the technology that makes these gizmos work is certainly impressive. (Anthony's note: This app looks amazing and is worth reading about).

From the National Association of Realtors®:

Orlando Sentinel Reports on NAR Commercial Profile

Downturns in the commercial market have hit the incomes of commercial practitioners, particularly those new agents and associates trying to break into the business. The median dollar volume for lease deals was $330,200 last year -- but 42 percent of those surveyed had no leasing transactions in 2009, compared with 28 percent the year before.

Practitioners Seek Compensation from BP
Gulf Coast real estate practitioners who've seen their income drop due to the massive oil leak are filing claims against BP.

FHA: Loan of Choice for Most Buyers
A survey from the Home Buying Institute Web site shows that most potential buyers prefer an FHA loan due to easier qualification standards and a small down payment.

15-Year Mortgage Hits a Record Low
While 30-year mortgage rates ticked up slightly, the 15-year rate hit a record low of 4.2 percent this week.

European Buyers Could Provide Opportunity
With the Federal Reserve opening up lending to Europe, it could provide opportunity to sell-off assets.

Posted Monday Jun 07