7.2 Million U.S. Homes Now Behind on Payments, Mortgage Delinquency Rates Surpass 10%

Posted by Michael Gerrity 02/04/10 3:15 PM EST

(JACKSONVILLE, FL) -- According to the latest January 2010 Mortgage Monitor Report by Lender Processing Services (NYSE: LPS), home loan delinquency rates in the U.S. have now surpassed 10 percent. Read More

Freddie Mac Reports Slight Uptick in Long-term Mortgage Rates

Posted by Michael Gerrity 02/04/10 2:25 PM EST

(MCLEAN, VA) -- According to Freddie Mac's (NYSE:FRE) newly released Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 5.01 percent for the week ending February 4, 2010. This is up from last week when it averaged 4.98... Read More

January Home Sales Brings First National Year-Over-Year Home Price Increase Since 2006

Posted by Michael Gerrity 02/04/10 12:00 AM EST

(TRUCKEE, CA) -- According to Clear Capital's newest Home Data Index (HDI) Market Report, national quarterly gains were achieved for the eighth straight month, pushing the yearly home price increase to 2.3%; ... Read More

Mortgage Applications Rise 21%, Says MBA

Posted by Michael Gerrity 02/03/10 9:55 AM EST

(WASHINGTON, DC) -- According to the Mortgage Bankers Association's (MBA) newly released Weekly Mortgage Applications Survey for the week ending January 29, 2010, the Market Composite Index increased 21.0 percent on a seasonally adjusted basis from one week earlier.  On... Read More

Toren Tower Completed, Brooklyn's Newest Residential High-rise

Posted by Michael Gerrity 02/02/10 4:06 PM EST

Toren Tower, Brooklyn (BROOKLYN, NY) -- Toren, Downtown Brooklyn's most distinctive new residential tower, has passed several important milestones resulting in a successful completion. With the Temporary Certificate of Occupancy (TCO) in place, new residents have begun settling in to... Read More

Starwood Loses $107M in Q4 2009 After Profit of $79M in Same 2008 Period

Posted by Alex Finkelstein 02/04/10 4:08 PM EST

(WHITE PLAINS, NY) -- Starwood Hotels & Resorts Worldwide (NYSE:HOT) CEO Frits van Paasschen tried to put a positive spin on the numbers but they couldn't be played down.The White Plains, NY-based organization lost $186 million from continuing operations in... Read More

South Florida Near Goal Line on Super Bowl Economic Blitz - But No Touchdown Yet

Posted by Alex Finkelstein 02/04/10 9:00 AM EST

(MIAMI, FL) -- Super Bowl 44, featuring the Indianapolis Colts and the New Orleans Saints in Miami's Sun Life Stadium will be the most watched television sports event of the year Sunday, Feb. 7 - but it may not ring overly loud at South Florida merchants' cash registers. Read More

Disney Announces Aulani, a New Hawaiian Destination Resort Opening Fall 2011

Posted by Michael Gerrity 02/03/10 2:37 PM EST

(KO OLINA, HAWAII) -- It's all in the name, just ask The Walt Disney Company (NYSE:DIS). The highly anticipated Disney destination resort currently under construction on the Hawaiian island of Oahu now has an official name - Aulani. "We want this resort destination to reflect the vibrant culture that surrounds it. The name 'Aulani' expresses a connection to tradition and deep story-telling ... Read More

U.S. Hotels Occupancy Rates Drop to 50.6% in Fourth Quarter 2009

Posted by Michael Gerrity 01/29/10 12:24 PM EST

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research (STR), the U.S. hotel industry reported decreases in all three key performance metrics for fourth-quarter 2009 in year-over-year measurements.The industry's occupancy dropped 4.4 percent to 50.6 percent, average daily rate... Read More

U.S. Hotel Industry Posted a 16.7% Drop in Room Revenues in 2009

Posted by Michael Gerrity 01/28/10 9:06 AM EST

Mark Lomanno (HENDERSONVILLE, TN) -- According to data from Smith Travel Research, the U.S. hotel industry posted a double-digit drop in revenue per available room during 2009. The metric fell 16.7 percent to US$53.71, the largest year-end decrease of any... Read More

Choice Adds 10 Hawaii Outrigger Hotels Totaling 1,700 Rooms to Ascend Collection

Posted by Alex Finkelstein 01/27/10 8:00 AM EST

(SILVER SPRINGS, MD) -- Choice Hotels International, Inc. (NYSE:CHH) keeps growing and growing and growing. The international franchisor of more than 6,000 hotels, representing more than 485,000 rooms in the United States and more than 35 other countries and territories, ... Read More

U.S. Hotel Performance Indices Decline in Mid-January

Posted by Michael Gerrity 01/26/10 3:47 PM EST

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research, the U.S. hotel industry reported decreases in all three key measurements during the week of 10-16 January 2010.In year-over-year measurements, the industry's occupancy ended the week virtually flat with an... Read More

$15M Acquisition Financing is First in Florida Under Fed's New Program

Posted by Alex Finkelstein 02/03/10 10:30 AM EST

Chatham Harbor apartments (ALTAMONTE SPRINGS, FL) -- The first bond issue closed in Florida under the Treasury's new Bond Credit Enhancement (BCE) program, and one of just four closed nationwide, has been completed for an Orlando suburban property.Stoneleigh Partners Acquisition... Read More

Mezzanine Loans for Multi-Family Projects Gaining Favor in Real Estate Capital Markets

Posted by Alex Finkelstein 02/02/10 3:22 PM EST

(CHICAGO, IL) -- The Real Estate Capital Institute's February Scoreboard sees some light in the otherwise murky real estate capital markets tunnel."Modest job growth, combined with controlled government spending discussions directly affect the current economic recovery, which is slowly trickling... Read More

Cushman & Wakefield Appoints Glenn Rufrano as new CEO

Posted by Michael Gerrity 02/02/10 3:02 PM EST

Glenn Rufrano (NEW YORK, NY) -- Cushman & Wakefield has just announced that Glenn Rufrano has been named President and Chief Executive Officer of the company.  Mr. Rufrano, who will also be appointed to the company's Board of Directors, will... Read More

Wachovia, HSBC Bank Tap Fortune International to Handle Remaining Condo Sales in Miami's Wind Tower

Posted by Michael Gerrity 02/02/10 2:37 PM EST

(MIAMI, FL) -- Fortune International has announced that it has been retained to handle sales for the approximately 150 remaining residences at the Wind condominium on the Miami River. Read More

Freddie Mac Finances 37% of all Multi-family Loans in 2009

Posted by Michael Gerrity 02/02/10 12:16 PM EST

(MCLEAN, VA) -- Freddie Mac (NYSE: FRE) announced today that in 2009 it financed its highest percentage of market share, 37 percent of the overall multifamily market, compared to 29 percent in 2008. Due to a contracting market, Freddie Mac... Read More

Monaco Has Highest Real Estate Prices Among European Resort Cities

Posted by Michael Gerrity 02/01/10 3:34 PM EST

Monaco Coastline (MOSCOW, RUSSIA) -- Monaco has the highest real estate prices among all the European resorts, suggests a study carried out by the Russian consulting agency "MAR Consult".Currently the cost of one square meter in high-class apartment buildings in... Read More

Japan's Housing Starts Drop to 45 Year Record Lows

Posted by Alex Finkelstein 01/30/10 6:39 PM EST

(TOKYO, JAPAN) -- Japan's real estate market, like India's, is heading south despite signs of gradual improvement in some areas. Japan's Ministry of Land and the Japan Real Estate Institute are disclosing what most Japanese residents already know ... Read More

Casa Latino International Enters Global Expansion Phase

Posted by Michael Gerrity 01/25/10 2:58 PM EST

Sonny Buoncervello (ORLANDO, FL) -- Casa Latino International, an Orlando-based multicultural real estate firm, has launched a global development initiative to expand the Casa Latino brand into select markets in South America and Europe, further strengthening the real estate franchise... Read More

Housing Prices Fell 6.6% in Spain Last Year

Posted by Michael Gerrity 01/21/10 9:00 AM EST

(MADRID, SPAIN) -- Housing prices in Spain decreased by 6.6% in 2009, while since the beginning of 2007 prices have decreased by almost 14.8%, according to official data provided by Tinsa, a Spanish firm specializing in real estate valuation. Tinsa predicts... Read More

Russians Are Most Active Foreign Buyers of Properties in Europe

Posted by Michael Gerrity 01/14/10 2:33 PM EST

(MOSCOW, RUSSIA) -- Despite the downturn, the demand for European property among the Russians is steadily increasing, the Russian media reports.According to official data, currently the Russian people are the most active foreign  buyers of property in Europe, especially in... Read More

Abu Dhabi Reveals Plans for 2010 Cultural Festival

Posted by Michael Gerrity 02/04/10 11:57 AM EST

Festival reflects the determination of the Capital to lead the world in cultural understandingFestival is a platform for world-class performances, commissioning works, world premieres and cross-cultural debatesFestival will deliver the highest calibre visual art exhibitionsFestival committed to rich community programs... Read More

Canada's Hotel Construction Pipeline Down 42% off 2008 Peaks

Posted by Michael Gerrity 02/04/10 11:53 AM EST

Click here to enlarge chart (PORTSMOUTH, NH) -- Lodging Economics reports today that there were 153 projects and 19,181 rooms at the end of Q4 2009. This represents a 42% drop in the total construction pipeline  by new projects, and... Read More

Armani Dubai Hotel Set to Open March 18th in Burj Khalifa Tower

Posted by Michael Gerrity 02/03/10 11:52 AM EST

(DUBAI, UAE) -- In preparation for the grand opening of the first Armani Hotel in the world on March 18, 2010, Armani Hotel Dubai has just unveiled their new state-of-the-art online booking system January 31st to begin processing early room reservations. Read More

Dubai Ritz-Carlton Sale to Investors May Reach $408 Million, Owner Says

Posted by Alex Finkelstein 02/03/10 8:00 AM EST

(DUBAI, UAE) -- Debt-laden Union Properties of Dubai said on its website that its luxury 15-story Ritz Carlton hotel could be sold for close to Dh1.5 billion (US $408.35 million) when it is turned over to investors in May of this year. Read More

Starwood Opens New Westin Brand in Canada to Meet Expected Winter Olympics Room Demand

Posted by Alex Finkelstein 02/01/10 10:00 AM EST

Nancy London, Starwood Hotels (RICHMOND, BC, CANADA) -- Hoping to capitalize on expected room demand from visitors to the upcoming Winter Olympics, Starwood Hotels & Resorts Worldwide has opened the multi-million-dollar, 176-room Westin Wall Centre, Vancouver Airport.The hotel is 20... Read More

Wyndham Entering Singapore Hotel Market With Ramada and Days Brands

Posted by Alex Finkelstein 01/28/10 3:30 PM EST

Tom Monahan (ZHONGSHAN PARK, SINGAPORE) -- Wyndham Hotel Group (NYSE: WYN) plans to enter the Singapore lodging market shortly by licensing and managing two new properties after they break ground in the first half of this year.They are the 391-room... Read More

W Hotels Unveils Full Ownership Residences in Thailand

Posted by Michael Gerrity 01/28/10 12:14 PM EST

(KOH SAMUI, THAILAND) -- For the first time in Asia, W Hotels Worldwide today unveiled The Residences at W Retreat Koh Samui, which buyers can now acquire their own vacation homes (licensed under the W brand). Ownership will include the same level of indulgence and modern living in an enviable location with world-class design, ... Read More

GLOBAL REAL ESTATE MARKET ROUNDUP

Posted by Alex Finkelstein 01/29/10 8:00 AM EST

(LONDON, ENGLAND) -- London has beaten Washington, DC by a wide margin as the world's best real estate investment market today, according to a fourth-quarter 2009 survey by the Association of Foreign Investors in Real Estate. New York City was the No. 3 choice. Read More

Bubble Bursts for India's Once-Booming Real Estate Market

Posted by Alex Finkelstein 01/26/10 8:05 AM EST

(MUMBAI, INDIA) -- After nearly four years of aggressive growth, India's once-booming real estate market is in a freefall. In an eye-opening analysis, Business Monitor International of Blackfriars, London, and Fast Market Research of Williamstown, MA are reporting ... Read More

Two Realty Firms Expected to Raise Total $362M in New IPOs This Week

Posted by Alex Finkelstein 01/25/10 9:00 AM EST

(GREENWICH, CT) -- Renaissance Capital, headquartered in Greenwich, CT, expects the following initial public offerings to price during the week of Jan. 25.(IFM) Century 21 China of Beijing, which provides real estate services and franchises the Century 21 brand in... Read More

GLOBAL REALTY CAPITAL MARKET ROUNDUP

Posted by Alex Finkelstein 01/22/10 8:00 AM EST

(TORONTO, CANADA) -- Avison Young's National Forecast on the international realty capital markets doesn't paint a rosy picture for 2010. The report shows Canadian real estate market fundamentals, "though shaken, remain relatively intact, while U.S. markets continue to ... Read More

GLOBAL REAL ESTATE ROUNDUP

Posted by Alex Finkelstein 01/20/10 8:00 AM EST

(BEIJING, CHINA) -- China government's drive to build more roads, bridges and related infrastructure in numerous growing metropolitan areas is paying off for China Infrastructure Construction Corp. (OTC BULLETIN BOARD -- CHNC). Read More