Mig Real Estate Acquires 240-unit Pine Creek Ranch Community In Houston

Pine Creek Ranch represents MIG Real Estate’s third investment in Texas multifamily properties, following its investment in The Cottages in Austin in 2012 and Wynhaven at Willowbrook in Houston in 2012. David Oelfke of ARA Real Estate Investment Services represented the seller in the transaction. MIG Real Estate represented itself.Greystar, a national operator with a significant presence in the Houston market, will manage the property for MIG. About MIG Real Estate MIG Real Estate owns and operates a diverse portfolio of assets in Phoenix; Las Vegas; Denver; Seattle; Tampa; Hawaii; Edmonton; Jackson, WY; and multiple markets in California and Texas. The Company is currently engaged in an aggressive expansion strategy, seeking “core-plus,” “value-add” and “opportunistic” investments in select-service hotels, grocery-anchored shopping centers, office, industrial and multi-family properties. MIG Real Estate has acquired over 5.8 million square feet of property, totaling more than $800 million of assets since April 2009.
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<h3 click here style=”clear:both”>Swedish Residential Real Estate Overvalued 25%, S&P Says

Looking at the crisis in the early 1990s, prices rose much faster than incomes before there was a correction, Ekbom said. Looking at the situation now, prices have gained more than the increase in disposable income, even though real income has had a good development. Sweden has taken a raft of measures to stem growth in mortgage lending and house prices amid concerns a bubble is developing. The steps include limiting mortgages to 85 percent of property values and tripling risk-weighting, or the cash banks must set aside to protect against mortgage defaults. While the steps have helped slow loan growth, house prices are still surging and consumer debt has risen to a record high of more than 170 percent of disposable income, according to central bank data.
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N.j. Affordable Housing Ruling May Block Christie’s Plan

The decision blocks Governor Christies efforts to prevent the construction of affordable homes in the states wealthiest communities, said Frank Argote-Freyre, president of the affiliated Latino Action Network. If you can build mansions in a community you can find space for the poor. The state high court was asked to review an appellate courts invalidation of a new set of regulations under the Fair Housing Act. Justice Jaynee Lavecchia, writing for the courts majority today, said the rules are at odds with the FHA, although the 30-year-old act should not be viewed as a constitutional straightjacket to legislative innovation. The ruling gives the Council on Affordable Housing, created by the FHA, five months to devise regulations for towns to follow, said attorney Peter Reinhart, a real estate professor at Monmouth University and a former member of the council. Christie was trying to eliminate the council, and uncertainty was lingering until this decision, Reinhart said.
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The housing market continues to produce some healthy gains for investors.

Case-Shiller Home Price Chart

Home builders (NYSEARCA:XHB) edged higher on Tuesday after the S&P/Case-Shiller 20-City Home Price Index surged another 12.4% in July, above the Briefing.com estimate of 10% and the 12.1% advance in June. As shown on the chart below, the index has been on a steady upward climb since February 2012, and there appears to be nothing stopping the move in the housing market. Of course, the accommodative monetary policy adopted by the Federal Reserve has been the primary reason for the advance in home builds, sales, and selling pricesthe evidence behind the so-called housing market recovery. But be careful. Its true that the financing costs for homes could likely stay historically low for a few more baltimore property management companies years, which would help add support to the housing market. However, I feel there could be a sort of bubble on the horizon.
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Housing Discrimination Alleged In Tucson Foreclosures

The fair-housing group accuses the bank of discriminatory maintenance and marketing practices for 621 properties in 18 metro areas across the U.S. The allegations follow the housing groups investigation into the status of the banks real estate owned, or foreclosed, properties in minority and white neighborhoods. Bank of America has denied the accusations.
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Housing starts up in August, single-family construction strong

Multi-family starts view decreased, but single family starts were the highest since February. Multi-family starts were 252,000 in Augusta considerable increase from the 278,000 pace in July. Single-family starts increased from 587,000 to 628,000. Single-family starts have been much more stable than multi-family starts and have shown a steady rise.
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Unconventional Play On Rental Properties

Barry Dolowich: Rental and vacation home deductions

Unproven models In the end, both models of acquiring rental homes are unproven. Altisource has done a better job of attracting investors, with the stock gaining since the December IPO. Silver Bay and others have struggled since the process to acquire and renovate rental properties has disappointed the investor community that expects immediate results. Silver Bay is focusing on older homes in the beaten-down markets of Phoenix, Atlanta, and Tampa Bay. The company had 65% of the 5,571 acquired properties leased at the end of second quarter.
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Deductions allowed without regard to whether the home is used for business or the production of income, such as those for mortgage interest, property taxes, or a casualty loss, are not affected by these limitation rules. If the home is not used by you for personal purposes for a) more than 14 days during the tax year, or b) more than 10 percent of the number of days during the year for which the home is rented at a fair market rental, whichever is greater, deduction limitations (Code Section 280A) do not apply. However, the deductibility of expenses still may be subject to the hobby loss rules (Code Section 183) if rental of the residence is not engaged in for profit. If the property is rented for 15 or more days during the tax year and is used by you for personal purposes for the greater of a) more than 14 days, or b) more than 10 percent of the number of days during the year for which the home is rented, the rental deductions may not exceed the amount by which the gross income derived by such activity exceeds the deductions otherwise allowable for the property, such as interest and taxes. According to the IRS, expenses attributable to the use of the rental unit are limited in the same manner as that prescribed under the hobby loss rules (i.e., the total deductions may not exceed the gross rental income, and the expenses are further limited to a percentage that represents the total days rented divided by the total days used).
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Sky standard line rental going up in December

Sky standard line rental going up in December

Broken down this is equivalent to paying just 9.95/month instead of the normal rates. Its not yet known if Sky will be increasing the price of this as well. The cost of renting out one of these is to increase in December Sky will be officially announcing the price change next month as its legally required to inform customers of price changes two months in advance. A Sky spokesperson said: As with any changes to our pricing, we will write to all our customers first to inform them of the details. However, as our website already makes clear, even with the planned changes, we will still be cheaper than BTs current standard monthly price. BTs standard line rental rates is 15.45/month and this could go up in the new year. After raising its prices earlier this year , BT said that it wouldnt raise the price of line rental again for the external link rest of the year.
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Chinese Cities Hooked On Land Revenue Fuel Housing Costs

No housing bubble, but Bank of England says it is watching closely

An audit by the National Audit Office of 36 local governments, including Shanghai and Guangzhou in the south, found that some regions faced growing pressures to repay debt. Four provinces and 17 provincial capitals borrowed 774.7 billion yuan as of Dec. 31, pledging repayment with land-sale proceeds, up 18 percent from 2010, according to the audit offices report released June 10. The Determiners Chinese local government financing vehicles reliance on land sales and rising land prices to repay debt creates many problems, Peoples Bank of China Governor Zhou Xiaochuan wrote in a commentary published on the central banks website Sept. 9. Average starting prices in residential-land auctions, set by local governments after consulting with companies evaluating sites, jumped 16 percent from a year earlier to 1,301 yuan per square meter in the first eight months of this year, according to SouFun Holdings Ltd., which monitors sales in 300 cities.
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China Stocks, Bonds Likely to Rally, Hong Says

But earlier this month, a group representing British property surveyors called on the Bank to take measures to slow mortgage lending if national house price growth exceeds 5 percent a year. Ed Miliband, leader of Britain’s Labour opposition party, said this week that if he wins election in 2015 he would more than double the number of new homes built annually to 200,000 by 2020 to ease a shortage that has helped to push up prices. FOCUS ON HEDGE FUNDS In June, the BoE ordered an investigation into the vulnerability of Britain’s financial institutions and borrowers to higher interest rates when central banks around the world start to wean their economies off massive stimulus. The FPC said in its statement on Wednesday that a moderate rise in long-term interest rates did not pose an immediate threat to major banks and insurance companies and so far “had not led to dislocations in market functioning or significant impact on financial institutions.” However, levels of leverage my company within hedge funds, which could make them vulnerable to a sharp rise in borrowing costs, “needed to be looked at more closely,” the statement said. The Financial Conduct Authority, which is represented on FPC, said it asked a number of hedge funds during the summer about their preparedness for changes in interest rates following the June FPC meeting and as part of routine supervisory work. The FPC’s wider review of rate hikes would continue by looking at what impact “more significant stresses” would have and how any impact would ripple through the financial system.
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Morguard Real Estate Investment Trust (mrt-un) Shares Cross 6% Yield Mark

Real Estate Investing With Cash? Why You Should Reconsider

Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock markets total return. In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Morguard Real Estate Investment Trust, looking at the history chart for MRT.UN below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is property management companies in maryland a reasonable expectation to expect a 6% annual yield. Click here to find out which 9 other Canadian dividend stocks just recently went on sale and crossed into new yield territory, at CanadaStockChannel.com
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OPM First, the best investors try to neveruse their own money. Youve probably heard the acronym OPM, which stands for Other Peoples Money. Thats not a joke. Putting your own capital at risk, especially if you dont have more than you need, is not generally wise if you have another option.
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Washington Real Estate Investment Trust Announces 3rd Quarter 2013 Earnings Release Date And Conference Call Information

These 69 properties consist of 25 office properties, 17 medical office properties, 16 retail centers and 11 multifamily properties. WRIT shares are publicly traded on the New York Stock Exchange ( WRE ). Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially.
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