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Michael Gerrity, Publisher & CEO - REAL ESTATE CHANNEL™

Besides running the day to day operations of the REAL ESTATE CHANNEL™, Mr. Gerrity has also served on several Boards over the last decade that include the Central Florida Technology Partnership's Digital Media Advisory Board, City of Orlando’s Technology Board, The Economic Development Commission’s Film & Television Board and he is a founding Board Member of Digital Media Alliance Florida - a statewide digital media industry association. In addition he is a member of the National Association of Real Estate Editors (NAREE).

As Founder and CEO of the REAL ESTATE CHANNEL™, Mr. Gerrity has also been interviewed over the last few years by numerous local and national news media organizations that include NBC Nightly News with Brian Williams, The Orlando Sentinel, The Orlando Business Journal, The New York Times, The Palm Beach Post and Florida Trend Magazine. Mr. Gerrity was also awarded the prestigious "40 under 40" Entrepreneur Achievement Award of Central Florida from the Orlando Business Journal in 2000.

Prior to creating the REAL ESTATE CHANNEL™, Mr. Gerrity was the Founder and CEO of GERRITY CAPITAL PARTNERS, LLC ("GCP"). Since GCP’s firm's inception in 1989 it has represented over $250M in corporate real estate investment and lease transactions across the U.S. Before forming GCP, Mr. Gerrity was a commercial real estate broker at Cushman & Wakefield from 1984 to 1989.

Economic Fallout Still Impacting Commercial Real Estate Investors' Mortgage Delinquency Rates

Posted by Michael Gerrity 03/11/10 10:37 AM

(WASHINGTON, DC) -- According to the Mortgage Bankers Association's (MBA) newly released Commercial/Multifamily Delinquency Report, delinquency rates continued to increase in the fourth quarter for most commercial/multifamily mortgage investor groups. Read More
Polish Commercial Real Estate Market on Brink of Recovery in 2010

Posted by Michael Gerrity 03/10/10 2:35 PM

(WARSAW, POLAND) -- The value of transactions closed in the Polish commercial real estate market this year may exceed 2 billion euros, according to new estimates by Cushman & Wakefield, Read More
California's Housing Market Driven by First-time Buyers, Distressed Sales in 2009

Posted by Michael Gerrity 03/10/10 1:49 PM

(LOS ANGELES, CA) -- According to the California Association of Realtors (C.A.R.) new 2009-2010 "State of the California Housing Market" report released today, affordable home prices, tax credits for home buyers, historically low interest rates ... Read More
NAHB Releases Top 5 Remodeling Tips for Homeowners

Posted by Michael Gerrity 03/10/10 11:48 AM

(WASHINIGTON, DC) -- According to the National Association of Home Builders (NAHB), as spring approaches, many home owners grow eager to start remodeling projects to update and refresh their surroundings. Before getting started, it's a good idea to hire... Read More
1 in 4 South Beach Condos Still Remain Unsold

Posted by Michael Gerrity 03/10/10 11:35 AM

(MIAMI, FL) -- According to a new report by Condo Vultures, nearly 1,450 of the 5,600 new condominium units developed in Miami Beach's trendy South Beach neighborhood were still unsold as of January 2010. The unsold units represent 26 percent of the new inventory built since 2003 ... Read More
Abu Dhabi Showcases Their Multi-Billion Dollar Yas Island at ITB Berlin Event

Posted by Michael Gerrity 03/10/10 9:11 AM

(BERLIN, GERMANY) -- Aldar Properties, one of Abu Dhabi's leading property developers, has brought Yas Island to ITB Berlin, the world's leading travel trade show. Yas Island is located on Abu Dhabi's Arabian Gulf and is the venue for the Formula 1™ Etihad Airways Abu Dhabi Grand Prix, Read More
Mortgage Applications on the Rise, Refi's Dip in Latest MBA Weekly Survey

Posted by Michael Gerrity 03/10/10 8:14 AM

(WASHINGTON, DC) -- According to the Mortgage Bankers Association's (MBA) newly released Weekly Mortgage Applications Survey for the week ending March 5, 2010, the Market Composite Index increased 0.5 percent on a seasonally adjusted basis ... Read More
U.S. Hotel Performance Shows Mixed Results in February

Posted by Michael Gerrity 03/08/10 4:01 PM

(HENDERSONVILLE, TN) -- According to data from STR, the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 21-27 February 2010.In year-over-year measurements, the industry's occupancy ended the week with a 2.5-percent increase... Read More
Despite Growth, 85% of Chinese Households Cannot Afford to Buy Real Estate

Posted by Michael Gerrity 03/08/10 11:46 AM

(BEIJING, CHINA) - The Chinese government is planning to increase the national GDP this year through the development of the domestic real estate market, suggests a new study conducted by the analysts of the Russian-Chinese consulting Agency Optim Consult. Read More
U.S. Hotels' HIL Index Dips in January

Posted by Michael Gerrity 03/05/10 10:04 AM

(DURHAM, NH) -- According to e-forecasting.com, in conjunction with Smith Travel Research, the U.S. Hotel Industry Leading Indicator-HIL-edged down 0.2 percent in January, the first monthly decrease after nine consecutive months of increases for the indicator. HIL went up 1.4... Read More
U.S. Unemployment Rate Remains Flat in February, Holds at 9.7 Percent

Posted by Michael Gerrity 03/05/10 9:39 AM

(WASHINGTON, DC) - According to the U.S. Bureau of Labor Statistics, nonfarm payroll employment was little changed (-36,000) in February, and the unemployment rate held at 9.7 percent.Employment fell in construction and information, while temporary help services added jobs. Severe... Read More
Europe, Middle East and Africa Hotel Construction Declines 22% from 2008 Peaks

Posted by Michael Gerrity 03/04/10 2:43 PM

Click here to enlarge chart (PORTSMOUTH, NH) -- According to Lodging Econometrics, the total Construction Pipeline for Europe, Middle East and Africa (EMEA) had 1,373 new projects and 285,770 new rooms. Pipeline counts have now declined 22% by projects... Read More
Long-term Mortgage Rates Dip Below 5% This Week

Posted by Michael Gerrity 03/04/10 12:16 PM

(MCLEAN, VA) -- According to Freddie Mac's (NYSE:FRE) newly released Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010, down from last week when it averaged 5.05 percent. Read More
Home Buyer Tax Credit Program Ending Soon

Posted by Michael Gerrity 03/04/10 11:38 AM

(WASHINGTON, DC) -- The National Association of Home Builders (NAHB) wants potential home buyers to be aware that they still have the opportunity to take advantage of the $8,000 first-time home buyer or $6,500 repeat buyer tax credits, as long... Read More
72% of 41,000 Condos Currently for Sale in South Florida Now Priced Under $250,000

Posted by Michael Gerrity 03/04/10 11:30 AM

(MIAMI, FL) -- According to a new report by Condo Vultures, more than two-thirds of the 41,000 condominium units and townhouses available for resale in the tricounty South Florida region have an asking price below $250,000. Read More
India's Hotel Industry Shows Early Signs of Recovery

Posted by Michael Gerrity 03/04/10 11:11 AM

Elizabeth Randall, STR Global (LONDON, UK) -- STR Global reports that the health of India's hotel industry is returning, according to new data released this week showing a concerted upward trend and recent positive year-on-year growth in revenue per available... Read More
National Year-Over-Year Home Prices Increase 5.0 Percent in February, Says Clear Capital

Posted by Michael Gerrity 03/04/10 8:00 AM

(TRUCKEE, CA) -- Clear Capital today announced their Home Data Index (HDI) Market Report that shows home prices have remained positive through the first two months of the year despite all the negative economic news and threat of more REOs hitting the markets. Read More
World's Largest Developers, Investors Target Sochi's 2014 Winter Olympics $12.58 Billion Construction Bonanza

Posted by Michael Gerrity 03/03/10 2:03 PM

(MOSCOW, RUSSIA) -- The Russian oil-rich government is actively seeking investors for the construction of numerous real estate properties in Sochi - the capital of a future Winter Olympic Games 2014. Read More
New York Home Sales Activity Increases 11% over Last Year, Prices Jump 30%

Posted by Michael Gerrity 03/03/10 12:29 PM

(ALBANY, NY) -- According to preliminary single-family sales data accumulated by the New York State Association of Realtors (NYSAR), the New York state housing market posted an improved start to 2010 compared to the beginning of last year with sales... Read More
MBA Says Mortgage Refinance Applications Increase 14.6 Percent

Posted by Michael Gerrity 03/03/10 8:21 AM

(WASHINGTON, DC) - According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 26, 2010, the Market Composite Index increased 14.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted... Read More
President Obama Proposes new $6 Billion 'Cash for Caulkers' Incentives Program for Energy Efficiency Homes

Posted by Michael Gerrity 03/02/10 4:38 PM

(WASHINGTON, DC) -- According to the National Association of Home Builders (NAHB), home energy efficiency incentives proposed by President Barack Obama will create much-needed jobs and help make America more energy independent. Read More
Freddie Mac Reports Home Prices Fall 0.4 Percent in 2009

Posted by Michael Gerrity 03/02/10 10:36 AM

Frank Nothaft (MCLEAN, VA) -- According to Freddie Mac's (NYSE: FRE) newly released Conventional Mortgage Home Price Index (CMHPI), Purchase-Only Series registered a 0.4 percent decline from the fourth quarter of 2008 to the fourth quarter of 2009, a much... Read More
Home Affordable Refinance Program Extended Another Year by FHFA

Posted by Michael Gerrity 03/01/10 4:17 PM

(WASHINGTON, DC) -- Today the Federal Housing Finance Agency Acting Director Ed DeMarco announced the extension of the Home Affordable Refinance Program, (HARP), a refinancing program administered by Fannie Mae and Freddie Mac, to June 30, 2011. The program is... Read More
French Riviera Luxury Properties Face Drop in Demand, Latest Victim of Global Recession

Posted by Michael Gerrity 03/01/10 12:30 PM

(NICE, France) -- Even the super wealthy are feeling global recession pains. The demand for luxury real estate in the South of France has been steadily decreasing ... Read More
Hotel Industry Posts Mixed Results in February

Posted by Michael Gerrity 03/01/10 10:53 AM

(HENDERSONVILLE, TN) -- According to Smith Travel Research, the U.S. hotel industry reported mixed results in the three key measurements during the week of 14-20 February 2010.In year-over-year measurements, the industry's occupancy ended the week with a 2.4-percent increase to... Read More
U.S. Government Reports Annualized Construction Spend Rate at $884.1 Billion

Posted by Michael Gerrity 03/01/10 10:50 AM

(WASHINGTON, DC) -- According to the U.S. Census Bureau of the Department of Commerce, construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6 percent (±1.1%) below the revised December estimate of $889.6... Read More
New Poll States 68% of Americans Want Continued Federal Government Home Buying Financial Support

Posted by Michael Gerrity 03/01/10 10:44 AM

(WASHINGTON, DC) - According to a new poll by the National Association of Home Builders (NAHB), Americans remain strongly committed to federal support for home buyers. Roughly 68 percent of those polled said the government should continue to support housing, Read More
Florida Home Sales Jump 24% in January, Condo Sales Explode 81% Year over Year

Posted by Michael Gerrity 02/26/10 4:24 PM

(ORLANDO, FL) -- According to the latest housing data released by the Florida Association of Realtors (FAR), Florida's existing home sales rose in January, marking 17 months that sales activity has increased in the year-to-year comparison.Existing home sales increased 24... Read More
67% of California Sellers Sold Their Homes Due to Inability to Pay Mortgages, Says C.A.R.

Posted by Michael Gerrity 02/25/10 1:23 PM

(LOS ANGELES, CA) -- Changes in family and employment status as well as adjustments to monthly mortgage obligations played significant roles in California's homeowners' decisions to sell their homes in 2009, according to the California Association of Realtors' (C.A.R.) Read More
FHFA Reports House Prices Fell Modestly in Q4, 2009

Posted by Michael Gerrity 02/25/10 1:16 PM

(WASHINGTON, DC) -- According to the Federal Housing Finance Agency's (FHFA) purchase-only house price index (HPI), U.S. house prices fell slightly in the fourth quarter of 2009.HPI was calculated by using home sales price information from Fannie Mae and Freddie... Read More
Mortgage Rates on the Rise Again, Over 5% This Week

Posted by Michael Gerrity 02/25/10 12:32 PM

(MCLEAN, VA) -- According to Freddie Mac's (NYSE:FRE) newly released Primary Mortgage Market Survey (PMMS), 30-year fixed-rate mortgages (FRM) averaged 5.05 percent with an average 0.7 point for the week ending February 25, 2010. Read More
Global Hotel Performance Shows Mixed Results for January 2010

Posted by Michael Gerrity 02/24/10 3:57 PM

The Americas(LONDON and HENDERSONVILLE, TN) -- According to data compiled by STR and STR Global, the Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for January 2010. In January 2010, the region's occupancy ended... Read More
Job Security Weighing Down New Home Sales, Says NAHB

Posted by Michael Gerrity 02/24/10 3:21 PM

David Crowe (WASHINGTON, DC) -- The National Association of Home Builders isn't happy with the U.S. Commerce Department's housing report released today announcing that sales of newly built, single-family homes declined 11.2 percent in January to a seasonally adjusted annual... Read More
Miami's 67-Story Marquis Residence Tower Signs New Marketing Agreement

Posted by Michael Gerrity 02/24/10 1:03 PM

Marquis photo by Robin Hill (MIAMI, FL) -- ONE Sotheby's International Realty has signed an exclusive marketing and sales agreement with Africa-Israel USA to head up sales and marketing efforts for the 67 floor Marquis Residences tower.The tower is one... Read More
New Home Sales Drop 11.2% in January 2010

Posted by Michael Gerrity 02/24/10 12:04 PM

(WASHINGTON, DC) - According to a joint release today by the U.S. Census Bureau and U.S. Department of Housing and Urban Development, sales of new single-family houses in January 2010 were at a seasonally adjusted annual rate of 309,000.This is... Read More
Mortgage Applications Decrease, Says MBA

Posted by Michael Gerrity 02/24/10 10:00 AM

(WASHINGTON, DC) -- According to the latest Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 19, the Market Composite Index decreased 8.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted... Read More
U.S. Hotel Industry Continues Performance Decline in January

Posted by Michael Gerrity 02/24/10 9:00 AM

Mark Lomanno (HENDERSONVILLE, TN) -- According to data from STR, the U.S. hotel industry posted declines in all three key performance measurements during January 2010. In year-over-year measurements, the industry's occupancy ended the month virtually flat with a 0.4-percent decrease to... Read More
Russians Trigger Price Hikes for Paris Properties

Posted by Michael Gerrity 02/23/10 3:52 PM

(MOSCOW, RUSSIA) -- The Paris residential property market has always been popular among the Russians, and will always be. Despite any economic crisis, Russian demand for the Paris residential real estate is steadily increasing. The Paris residential real estate market... Read More
California Home Sales Drop 10.6% in January, Prices Jumped 15%

Posted by Michael Gerrity 02/23/10 2:00 PM

(LOS ANGELES, CA) -- According to the California Association of Realtors (C.A.R.), existing home sales decreased 10.6 percent in January in California compared with the same period a year ago, while the median price of an existing home rose... Read More
Miami Beach's Troubled Caribbean Condominium Tower Now Reselling Remaining 94 Units at 40% Markup

Posted by Michael Gerrity 02/23/10 1:32 PM

Peter Zalewski (MIAMI, FL) -- According to a new report by Condo Vultures, the New York investment group that purchased the construction loan on the 94 remaining units in the troubled Caribbean condominium in Miami Beach is reselling the units... Read More
24% of All U.S. Residential Mortgages Now Underwater, Says CoreLogic Q-4 Report

Posted by Michael Gerrity 02/23/10 1:08 PM

(ORLANDO, FL) -- First American CoreLogic reported today that more than 11.3 million, or 24 percent, of all residential properties with mortgages were in negative equity at the end of the fourth quarter of 2009, ... Read More
U.S. Hotel Occupancy Rate Dips to 53.7% in February

Posted by Michael Gerrity 02/22/10 11:00 AM

(HENDERSONVILLE, TN) -- According to Smith Travel Research, the U.S. hotel industry reported decreases in all three key measurements during the week of 7-13 February 2010.In year-over-year measurements, the industry's occupancy ended the week with a 2.3-percent decrease to 53.7... Read More
U.S. Dept. of Labor Reports Slight Uptick in Consumer Price Index for January 2010

Posted by Michael Gerrity 02/19/10 4:06 PM

(WASHINGTON, DC) -- According the U.S. Department of Labor, on a seasonally adjusted basis, the January Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months,... Read More
Orlando's Home Prices Plummet 14.17% in January, Record 73.4 % Were Bank REO and Short Sale Closings

Posted by Michael Gerrity 02/19/10 1:16 PM

(ORLANDO, FL) -- According the Orlando Regional Realtor Association (ORRA), a record breaking 73.42 percent of closings in January were categorized as either bank-owned or short sales, leaving only 26.58 percent worth of normal sales to buoy the area's overall... Read More
Mortgage Delinquency Rates Fall 9.47% in Q4, Beginning of the End?

Posted by Michael Gerrity 02/19/10 1:07 PM

(WASHINGTON, DC) -- According to the Mortgage Bankers Association's (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally adjusted rate of 9.47 percent of all loans outstanding as of the end... Read More
Eastern European Properties Lacked Investment in 2009

Posted by Michael Gerrity 02/19/10 12:58 PM

Tim O'Sullivan (MOSCOW, RUSSIA) -- The volume of real estate investments in Central and Eastern Europe in 2009 amounted to EUR2.5 billion, which accounted for only 3.5% in the total European investment volume, said recently head of investment department of... Read More
Is Tiger Woods' Apology Enough to Woo Back Female Home Buyers to His Signature Golf Communities?

Posted by Michael Gerrity 02/19/10 11:10 AM

(ORLANDO, FL) -- While the return of Tiger Woods Friday morning answered some questions regarding his three months of self-imposed seclusion, ... Read More
Long-Term Rates Still Near Record Lows

Posted by Michael Gerrity 02/18/10 3:30 PM

Frank Nothaft (MCLEAN, VA) -- According to Freddie Mac's (NYSE:FRE) newly released Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending February 18, 2010. This is... Read More
Europe's Hotel Market Thaws

Posted by Michael Gerrity 02/18/10 3:20 PM

Elizabeth Randall (LONDON, UK) -- According to STR Global, the current year for the European hotel sector is likely to be one of recovery rather than growth. "With a return to RevPAR growth last December, European hoteliers can look forward... Read More
Southern California Home Sales Dip 31.2% in January

Posted by Michael Gerrity 02/18/10 11:00 AM

John Walsh (LA JOLLA, CA) -- According to MDA DataQuick, southern California home sales eked out a modest gain in January compared with a year earlier but fell sharply from December.The median price paid rose above the year-ago level for... Read More
Housing Affordability Index Continues to Hover at Record Levels, says NAHB

Posted by Michael Gerrity 02/18/10 9:01 AM

(WASHINGTON, DC) -- According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released today, nationwide housing affordability, bolstered by favorable interest rates and low house prices, closed out the year near its highest level since the... Read More
Hotel Industry Pulse Index Declines in January

Posted by Michael Gerrity 02/18/10 8:30 AM

(DURHAM, NH) -- According to e-forecasting.com in conjunction with Smith Travel Research announced today that Hotel Industry Pulse (HIP) index declined in January after improving 2.8 percent in December.HIP is a composite indicator that gauges business activity in the U.S.... Read More
Housing Starts Rise in January, Strongest Pace in Six Months

Posted by Michael Gerrity 02/17/10 4:11 PM

David Crowe (WASHINGTON, DC) -- According to figures released today by the U.S. Commerce Department, nationwide housing production hit its strongest pace in the last six months this January, posting a 2.8 percent gain to a seasonally adjusted annual rate... Read More
Housing Starts Increase 1.5% in January, Says HUD

Posted by Michael Gerrity 02/17/10 10:11 AM

(WASHINGTON, DC) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for January 2010:BUILDING PERMITSPrivately-owned housing units authorized by building permits in January were at a seasonally adjusted... Read More
Mortgage Applications Decrease in Latest MBA Survey

Posted by Michael Gerrity 02/17/10 10:03 AM

(WASHINGTON, DC) - The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 12, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.1 percent on a seasonally adjusted... Read More
Sheraton Announces $4 Billion Global Expansion Plan, Includes 50 New Hotels in 15 Countries

Posted by Michael Gerrity 02/17/10 8:00 AM

(WHITE PLAINS, NY) -- According to a press release just issued from Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), Sheraton Hotels & Resorts is increasing its worldwide footprint through a strategic expansion that will add approximately 50 new hotels and over 20,000 rooms ... Read More
Cushman & Wakefield Tapped to Consult Charles S. Cohen's 10 Million Sq. Ft. Property Portfolio

Posted by Michael Gerrity 02/16/10 2:11 PM

Charles Cohen (NEW YORK, NY) -- Bruce Mosler, Co-Chairman of the Board of Cushman & Wakefield, and Arthur Mirante, former CEO Cushman & Wakefield, have both been named "strategic real estate consultants" for Charles S. Cohen's national portfolio of commercial... Read More
Home Builder Confidence Grows in February, Buoyed by Healing Jobs Market

Posted by Michael Gerrity 02/16/10 1:58 PM

David Crowe (WASHINGTON, DC) -- According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today, builder confidence rose two points to 17 in February as favorable home buying conditions and signs of healing in the... Read More
Greek Residential Property Remains Popular, Despite Country's Economic Crisis

Posted by Michael Gerrity 02/16/10 1:42 PM

(MOSCOW, RUSSIA) -- The recent economic crisis and turmoil in Greece (a bomb just went off in front of JP Morgan Chase office building today), has not resulted in a sharp decline in local housing prices despite to some... Read More
Luxury Hotel Spas' Average Treatment Rates Dip 4.5% in 2009

Posted by Michael Gerrity 02/16/10 9:00 AM

(HENDERSONVILLE, TN) -- According to a new Smith Travel Research report, luxury hotel spas showed mixed operating results for the full year 2009.The summary Spa STAR data shows that the Average Treatment Rate (ATR) was reported at US$135.39, a... Read More
Florida Had 80.3 Million Tourist Visits in 2009

Posted by Michael Gerrity 02/15/10 7:10 PM

(TALLAHASSEE, FL) -- According to Visit Florida, the state's official tourism marketing corporation, Florida had an estimated 80.3 million visitors came to Florida in 2009. Compared to Florida's 2008 tourism stats, this represents a slight decrease of 0.8 percent. Read More
1 in 4 New Condos in Sunny Isles Beach Florida Remain Unsold

Posted by Michael Gerrity 02/15/10 10:30 AM

Peter Zalewski (MIAMI, FL) -- More than 24 percent of the 6,300 new condo units built or converted in the barrier island city of Sunny Isles Beach during the boom years in South Florida remain in the hands of developers,... Read More
CB Richard Ellis Tapped to Lease Miami's Recently Renovated 999 Brickell Office Building

Posted by Michael Gerrity 02/15/10 9:00 AM

999 Brickell Ave (MIAMI, FL) -- CB Richard Ellis (CBRE) Brokerage Services has been engaged to provide landlord brokerage services for 999 Brickell, an 11-story iconic office building totaling approximately 100,000-sq. ft. located in the Brickell submarket of Miami, Fla.... Read More
California Home Affordability Index Remains Flat at 64% in Q4, 2009

Posted by Michael Gerrity 02/12/10 5:21 PM

(LOS ANGELES, CA) -- According to a report released today by the California Association of Realtors (C.A.R.), the percentage of households that could afford to buy an entry-level home in California remained at 64 percent in the fourth quarter of... Read More
Spain's Residential Properties in Demand by Emerging Market Investors

Posted by Michael Gerrity 02/12/10 12:45 PM

Andrey Maslak (MOSCOW, RUSSIA) -- According to Andrey Maslak, president of the Russian Foundation for Economic Cooperation and Development, there is a growing number of Spain's real estate agencies that are starting to focus more on Russian and Chinese customers... Read More
US Hotel Performance Dips in Early February

Posted by Michael Gerrity 02/12/10 12:25 PM

(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 31 January-6 February 2010.In year-over-year measurements, the industry's occupancy ended the week virtually flat with... Read More
China's Hotels Show Dramatic 26.2% Revenue Declines in 2009, Contrast Strongly with Asian Economy

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

(LONDON, UK) -- Dramatic declines in China's hotel performance during 2009--underscored by revenue per available room (RevPAR) falling 26.2 percent compared with a year ago--contrast strongly with the continuing good performance of the Chinese economy. An 8.7 percent year-on-year increase... Read More
Long-Term Mortgage Rates Dip Below 5 Percent

Posted by Michael Gerrity 02/11/10 5:16 PM

Frank Nothaft (MCLEAN, VA) -- According to Freddie Mac (NYSE:FRE) newly released Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 4.97 percent with an average 0.7 point for the week ending February 11, 2010. This is a... Read More
Florida's Condo Sales Jump 93% in Q4, Home Sales Jump 44%

Posted by Michael Gerrity 02/11/10 4:42 PM

(ORLANDO, FL) -- Sales of existing single-family homes in Florida rose 44 percent in fourth quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors. A total of 43,926 existing homes sold statewide in 4Q 2009; Read More
Latin America's Hotel Construction Pipeline Declines 34% From 2008 Peaks

Posted by Michael Gerrity 02/11/10 1:03 PM

Click here to enlarge chart (PORTSMOUTH, NH) -- According to Lodging Economics latest report, Latin America's Construction Pipeline declined for a seventh consecutive quarter in Q4 2009 to 453 projects/74,946 rooms, reaching a new low for the current development cycle.... Read More
Italian Residential Real Estate Prices Remain Stable in 2010

Posted by Michael Gerrity 02/10/10 1:20 PM

Argegno, Italy (ROME, ITALY) -- Prices for Italian residential real estate will increase by 5% during the next several moths, according to recent forecasts made by Casa Travella, Italy's oldest real estate agency.The Italian real estate market has not suffered... Read More
Mortgage Applications Decline This Week, Says MBA

Posted by Michael Gerrity 02/10/10 8:53 AM

(WASHINGTON, DC) -- According to the Mortgage Bankers Association (MBA) latest Weekly Mortgage Applications Survey for the week ending February 5, 2010, the Market Composite Index decreased 1.2 percent on a seasonally adjusted basis from one week earlier. On an... Read More
Brooklyn's Newest Condo Project Now Opened, Reporting Brisk Winter Sales

Posted by Michael Gerrity 02/09/10 3:27 PM

80 Metropolitan (BROOKLYN, NY) -- Steiner NYC, developer of Williamsburg's new 80 Metropolitan midrise condo tower, is now open and having their first residents moving in this week.80 Metropolitan is situated in the heart of Williamsburg, home to the creative... Read More
South Florida Foreclosure Filings Drop 7% in January

Posted by Michael Gerrity 02/09/10 9:53 AM

(MIAMI, FL) -- According to a new report from Condo Vultures, lenders initiated 7 percent fewer foreclosure actions in South Florida in January 2010 on a year-over-year basis, with total filings slipping for the month below 5,800 in the tricounty region. Read More
Abu Dhabi Lands First IKEA Store, Opening Spring 2011

Posted by Michael Gerrity 02/08/10 2:15 PM

(YAS ISLAND, ABU DHABI) -- IKEA UAE, part of Al-Futtaim group announced it expects to serve nearly 1.3 million visitors in the first year of operations when the world's best known furniture and furnishing company opens for business on Yas Island, ... Read More
U.S. Hotel Sector Posting Mixed Result in late January

Posted by Michael Gerrity 02/08/10 9:00 AM

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research, the U.S. hotel industry reported mixed results in the three key measurements during the last week of January 2010.In year-over-year measurements, the industry's occupancy ended the week up 1.9 to... Read More
Russians Became Most Active Foreign Buyers of Florida Properties in 2009

Posted by Michael Gerrity 02/05/10 2:46 PM

(MOSCOW, RUSSIA) -- Demand for housing in the United States from Russians and citizens of CIS countries in 2009 increased by 250%, according to research conducted by the Moscow-based real estate agency Gordon Rock. Most of the Russians traditionally look... Read More
Unemployment Rate Unexpectedly Dips to 9.7% in January

Posted by Michael Gerrity 02/05/10 10:29 AM

Tonya Giddens (WASHINGTON, DC) - Today the U.S. Department of Labor reported that the unemployment rate fell from 10.0 to 9.7 percent in January, and nonfarm payroll employment was essentially unchanged (-20,000).Employment fell in construction and in transportation and warehousing;... Read More
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

(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

(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
Abu Dhabi Reveals Plans for 2010 Cultural Festival

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

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

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

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

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

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

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

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

(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
Mortgage Applications Rise 21%, Says MBA

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

(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

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
Prudential Douglas Elliman Buys Bellmarc Property Management

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

Dottie Herman (NEW YORK, NY) -- Douglas Elliman Property announced today the acquisition of Bellmarc Property Management's residential portfolio.The transaction includes the transfer to Douglas Elliman Property Management of approximately 50 building management accounts, including many of Manhattan's most prestigious... Read More
Cushman & Wakefield Appoints Glenn Rufrano as new CEO

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

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

(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

(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
MBA Opposes President Obama's New Federal Budget Plan; Includes Reduction of Mortgage Interest Deductions for High Income Earners

Posted by Michael Gerrity 02/01/10 6:50 PM

(WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) is not happy with the new 2011 fiscal-year federal budget proposed Monday by the Obama Administration. In a prepared statement just issued, MBA's Chairman Robert E. Story, Jr. states, Read More
Monaco Has Highest Real Estate Prices Among European Resort Cities

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

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
US Government Reports December Construction Spending Dips Slightly to $902.5 Billion Annual Rate

Posted by Michael Gerrity 02/01/10 12:31 PM

(WASHINGTON, DC) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2009 was estimated at a seasonally adjusted annual rate of $902.5 billion, 1.2 percent (±1.3%) below the revised November estimate of... Read More
Miami's Massive ICON Brickell Condo Project Slashes Prices by 51%

Posted by Michael Gerrity 02/01/10 11:34 AM

(MIAMI, FL) -- Condo Vultures reports today that prices at the ICON Brickell three-tower condominium project in Greater Downtown Miami have been slashed to as little as $261 per square foot, a 51 percent discount on the average closed sales price in the complex to date. Read More
MBA Reports 13% of Non-Bank Commercial, Multifamily Mortgage Debt to Mature in 2010

Posted by Michael Gerrity 02/01/10 11:03 AM

(LAS VEGAS, NV) -- According to the Mortgage Bankers Association (MBA) newly released results of their 2009 Commercial Real Estate/Multifamily Survey, the volume of commercial and multifamily mortgage debt maturing in 2010 and 2011 is relatively low. Of the $1.45... 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

(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
Borrowers Who Refinanced Homes in Q4 Are Now Reducing Mortgage Debt at Record Levels

Posted by Michael Gerrity 01/28/10 3:30 PM

Frank Nothaft (MCLEAN, VA) -- According to Freddie Mac's quarterly Refinance Report, 33 percent of borrowers who refinanced their loan in the fourth quarter of 2009 have now lowered their principal balance.This is the highest "cash-in" share since Freddie Mac... Read More
2010 to be Challenging Year for Hotel Industry, Says STR

Posted by Michael Gerrity 01/28/10 1:01 PM

Mark Lomanno (HENDERSONVILLE, TN) -- According to Smith Travel Research, the U.S. hotel industry is projected to end 2010 with decreases in two of the three key performance measurements.STR projects 2010 occupancy to be flat at 55.1 percent, ADR to... Read More
Long-Term Mortgage Rates Remain Flat

Posted by Michael Gerrity 01/28/10 12:55 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an average 0.6 point for the week ending January 28, 2010, ... Read More
W Hotels Unveils Full Ownership Residences in Thailand

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

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

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

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
New York City Building Sales Drop 75% in 2009, Reports Massey Knakal Realty Services

Posted by Michael Gerrity 01/27/10 2:50 PM

(NEW YORK, NY) -- Massey Knakal Realty Services released this week their year-end Property Sales Report for 2009 that shows the total volume of commercial real estate sales in the New York City marketplace was $6.3 billion, Read More
2009 Records Lowest Number of New Home Sales Since 1963, Says NAHB

Posted by Michael Gerrity 01/27/10 1:47 PM

(WASHINGTON, DC) -- According to figures released by the U.S. Commerce Department today, sales of newly built single-family homes fell 7.6 percent in December to a seasonally adjusted annual rate of 342,000 units. Read More
New Residential Sales Drop 7.6% in December, Says HUD

Posted by Michael Gerrity 01/27/10 11:27 AM

(WASHINGTON, DC) -- According to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new one-family houses in December 2009 were at a seasonally adjusted annual rate of 342,000,... Read More
Mortgage Application Volume Drops 10.9% This Past Week

Posted by Michael Gerrity 01/27/10 10:34 AM

(WASHINGTON, DC) -- According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending January 22, 2010, the Market Composite Index, a measure of mortgage loan application volume, decreased 10.9 percent on a seasonally adjusted basis from one week earlier. Read More
U.S. Hotel Performance Indices Decline in Mid-January

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

(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
Latest Case-Shiller Home Price Index Sends Mixed Market Signals

Posted by Michael Gerrity 01/26/10 10:02 AM

(NEW YORK, NY) -- Data through November 2009, released today by Standard & Poor's for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that the annual rates of decline of the 10-City and 20-City Composites... Read More
Florida's Home Sales Enjoy 31% Year-over-Year Increase in 2009

Posted by Michael Gerrity 01/25/10 3:02 PM

(ORLANDO, FL) -- According to the latest housing data released today by the Florida Realtors (FAR), at the end of 2009, Florida's existing home and condo sales were higher than a year earlier, a continuing trend for statewide sales activity. Read More
Casa Latino International Enters Global Expansion Phase

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

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
Florida's Monthly Existing Home Sales Up 4.3% in December

Posted by Michael Gerrity 01/25/10 2:39 PM

(ORLANDO, FL) -- A according to the latest housing data released by Florida Realtors, Florida's existing home sales rose in December, marking 16 months that sales activity has increased in the year-to-year comparison.Existing home sales rose 33 percent last month... Read More
Exhibitors at International Builders Show Signal Signs of Optimism, Make Predictions for 2010

Posted by Michael Gerrity 01/25/10 2:00 PM

(LAS VEGAS, NV) -- The National Association of Home Builders (NAHB) hosted their annual International Builders Show this past week in Las Vegas that drew over 55,000 home builders, remodelers and other members of the home building industry. Read More
Hilton Hotels Continues Russian Expansion Plan in 2010

Posted by Michael Gerrity 01/25/10 1:44 PM

Michael Collini (MOSCOW, RUSSIA) -- Hilton Hotels Group will not abandon its plans to open 70 hotels in Russia by 2018 despite the impact of the economic recession, according to the Russian media citing the sources in the US company.Several... Read More
New York Housing Market Finishes 2009 on Strong Uptick

Posted by Michael Gerrity 01/25/10 11:10 AM

(ALBANY, NY) -- Fueled by a recovery in the second half of the year, statewide sales of existing single-family homes in New York State rebounded from a double-digit deficit in the first half of the year to finish only 3.2-percent... Read More
California Homes Sales Increased 1.7% in December, Median Price Jumps Up 8.4%

Posted by Michael Gerrity 01/22/10 2:37 PM

(LOS ANGELES, CA) -- Home sales increased 1.7 percent in December in California compared with the same period a year ago, while the median price of an existing home rose 8.4 percent, the California Association of Realtors (C.A.R.) reported today Read More
Innovative Rebate Program Created to Help Consumers Weatherize Homes

Posted by Michael Gerrity 01/21/10 5:11 PM

(LAS VEGAS, NV) -- A weatherization program that created jobs while it made homes more energy-efficient worked in Minnesota - and can be one model for successful programs in other states.A remodeler, a window manufacturer and the executive officer for... Read More
Long-Term Mortgage Rates Drop Again to 4.99%

Posted by Michael Gerrity 01/21/10 4:41 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent with an average 0.7 point for the week ending January 21, 2010, Read More
W Hotels and Residences Coming to Koh Samui This Spring

Posted by Michael Gerrity 01/21/10 11:10 AM

(KOH SAMUI, THAILAND) -- W Hotels Worldwide has announced the spring 2010 opening of W Retreat Koh Samui, the first W Retreat in Southeast Asia. An all-villa beachfront resort set on the north shore of Thailand's ... Read More
Lenders, Appraisers Hinder Green Home Growth

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

(LAS VEGAS, NV) -- Home appliance manufacturers are now saying at the National Association of Home Builders' annual show in Las Vegas this week that lenders and appraisers learn to recognize the value of green innovation and the money it... Read More
Housing Prices Fell 6.6% in Spain Last Year

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

(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
Orlando's Home Closings Soar 51.3 Percent in December, Says ORRA

Posted by Michael Gerrity 01/21/10 8:00 AM

(ORANDO, FL) -- Brokers and agents of the Orlando Regional Realtor Association (ORRA) closed 51.83 percent more homes in December of this year than last, bringing year-to-date Orlando area sales to 59.31 percent above 2008. Read More
Government Reports December Construction Numbers

Posted by Michael Gerrity 01/20/10 10:49 AM

(WASHINGTON, DC) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for December 2009:BUILDING PERMITSPrivately-owned housing units authorized by building permits in December were at a seasonally adjusted... Read More
High Unemployment Will Continue to Slow New Home Construction Growth

Posted by Michael Gerrity 01/20/10 9:57 AM

David Crowe (LAS VEGAS, NV) -- According to economists speaking at the International Builders' Show in Las Vegas this week, the end of the economic recession along with the continuation of low mortgage interest rates and stabilizing housing prices will... Read More
Mortgage Refinance Applications Rebound as Rates Fall

Posted by Michael Gerrity 01/20/10 9:51 AM

(WASHINGTON, DC) -- According to the Mortgage Bankers Association (MBA) newly released Weekly Mortgage Applications Survey for the week ending January 15, 2010, increased 9.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the... Read More
Apartments Will Be In High Demand, Short Supply in Coming Years

Posted by Michael Gerrity 01/19/10 3:18 PM

David Crowe (LAS VEGAS, NV) -- According to industry experts speaking at a press conference today at the National Association of Home Builders' International Builders' Show in Las Vegas, a severe shortage of apartments is likely to result from the... Read More
Home Builder Confidence Index Drops Again in January

Posted by Michael Gerrity 01/19/10 3:12 PM

Joe Robson (LAS VEGAS, NV) -- According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today, builder confidence in the market for newly built, single-family homes declined one point to 15 in January on... Read More
Las Vegas Hosts International Home Builders Show This Week

Posted by Michael Gerrity 01/19/10 11:22 AM

(LAS VEGAS, NV) -- Housing professionals from across the country and abroad will convene at the Las Vegas Convention Center this week for the 2010 International Builders' Show (opening today).It is the housing industry's largest annual trade show and... Read More
DHL Donates Largest Private Airport in U.S. to Local Government Authorities

Posted by Michael Gerrity 01/19/10 11:04 AM

(WILMINGTON, OH) -- The City of Wilmington and the Clinton County Port Authority received a nice new present today, the largest private airport in the country. Read More
Russian Real Estate Investment Activity May Rebound 60% in 2010

Posted by Michael Gerrity 01/18/10 2:21 PM

(MOSCOW, RUSSIA) -- The amount of investments in the European real estate market this year may significantly increase after a record drop registered last year, suggests a new research carried out by analysts of Jones Lang LaSalle Company (JLL), a... Read More
Real Estate Ad Market Poised to Rebound 3% in 2010

Posted by Michael Gerrity 01/18/10 2:19 PM

(WILLIAMSBURG, VA) -- Given the tough economy of 2009, real estate advertising may enjoy an uptick in 2010.Borrell Associates has published a new report on U.S. real estate advertising that says it may have bottomed out and poised to slightly... Read More
83 Properties Per Day Were Seized by Lenders in South Florida During 2009

Posted by Michael Gerrity 01/18/10 1:38 PM

Peter Zalewski (MIAMI, FL) -- According to a new report from Condo Vultures, a Bal Harbour Florida based real estate consultancy firm, more than 30,000 properties in the tricounty South Florida region were repossessed through foreclosure in 2009, representing a... Read More
European Airport Hotels Benefit from Freezing U.K. Weather

Posted by Michael Gerrity 01/18/10 1:22 PM

(LONDON, UK) -- The recent freeze across the U.K. brought with it contrasting fortunes for hotel operators.Data released from STR Global showed recent adverse weather and road conditions reduced people's desire to travel locally. Guests were forced either to cancel... Read More
STR Reports U.S. Hotel Performance Dips in Early January

Posted by Michael Gerrity 01/15/10 2:20 PM

(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 January 3-9, 2010.In year-over-year measurements, the industry's occupancy decreased 3.9 percent to end the week... Read More
U.S. Hotel Market H.I.P. Index Improves 1.7 Percent in December

Posted by Michael Gerrity 01/15/10 10:31 AM

Click here to enlarge chart (DURHAM, NEW HAMPSHIRE) -- Smith Travel Research in conjunction with e-Forecast.com announced that the Hotel Industry's Pulse index gained ground in December.After edging down 0.3 percent in November, HIP increased 1.7 percent in December. HIP... Read More
Consumer Price Index Rose 0.1 Percent in December

Posted by Michael Gerrity 01/15/10 10:26 AM

(WASHINGTON, DC) - The U.S. Bureau of Labor Statistics reported today that on a seasonally adjusted basis, the December Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent. Over the last 12 months, the index increased 2.7 percent... Read More
Fixed-Rate Mortgages Dipped to 5.06 Percent, Says Freddie Mac

Posted by Michael Gerrity 01/14/10 2:54 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent ... Read More
Prudential Florida Realty Sets Up Donation Centers Across Florida to Help Haiti's Earthquake Victims

Posted by Michael Gerrity 01/14/10 2:44 PM

Prudential Realty Donation Offices in Florida (SUNRISE, FL) -- Prudential Florida Real Estate Services has set up donation centers across their 40+ locations throughout Florida to collect new flashlights and batteries to support the relief efforts to the people in... Read More
Russians Are Most Active Foreign Buyers of Properties in Europe

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

(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
Canada's Month-Over-Month New Hotel Construction Remains Flat

Posted by Michael Gerrity 01/14/10 2:09 PM

(HENDERSONVILLE, TN) -- According to the December 2009 STR-TWR-Dodge Construction Pipeline Report released this week, the Canadian hotel development pipeline included 214 projects comprising 23,384 rooms.This represents a relatively flat to small 0.9-percent decrease in the number of rooms in... Read More
Starwood Announces New Luxury Collection Hotel to Debut in Peru in 2010

Posted by Michael Gerrity 01/14/10 1:49 PM

Paracas (NEW YORK, NY) - Starwood Hotels & Resorts Worldwide (NYSE: HOT) in a franchise agreement with Libertador Hotels, Resorts & Spas, today announced the opening of Hotel Paracas. The luxury resort will be the first of three Luxury Collection... Read More
U.S. Hotel Construction Pipeline Dips 34.6 Percent in December

Posted by Michael Gerrity 01/14/10 1:42 PM

(HENDERSONVILLE, TN) -- The STR-TWR-Dodge Construction Pipeline Report released this week showed a total of 3,829 active projects comprising 401,090 rooms in the U.S. hotel development pipeline for December 2009. This represents a 34.6-percent decrease in the number of rooms... Read More
Record 2.8 Million U.S. Property Foreclosure Filings in 2009, Says RealtyTrac

Posted by Michael Gerrity 01/14/10 8:00 AM

(IRVINE, CA) -- Today RealtyTrac reported their year-end 2009 Foreclosure Market Report, which shows a total of 3,957,643 foreclosure filings ... Read More
Mortgage Refinance Applications Rise, Purchase Applications Remain Flat

Posted by Michael Gerrity 01/13/10 8:31 AM

(WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 8, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 14.3 percent on a seasonally adjusted... Read More
Manhattan Office Vacancies Drop to 11.1 Percent; Leasing Activity Strong in December

Posted by Michael Gerrity 01/13/10 8:00 AM

(NEW YORK, NY) -- According to Cushman & Wakefield newly released 2009 year-end statistics for the Manhattan commercial real estate market, office vacancy rates declined to 11.1 percent at the end of December, ... Read More
Caribbean Market Most Appealing to Future Timeshare Buyers

Posted by Michael Gerrity 01/12/10 2:05 PM

(MIAMI, FL) -- A number of positive trends that reinforce the appeal of the Caribbean market to both existing and potential vacation owners are being shared today with delegates at the annual Caribbean Marketplace conference by Interval International. Read More
St. Joe Company Sells 380 Acre Victoria Park to Kolter Land Partners

Posted by Michael Gerrity 01/12/10 1:30 PM

Victoria Park, Deland Florida (WEST PALM BEACH, FL) -- According to a prepared statement from Kolter Land Partners, a privately-owned land acquisition and development firm based in Palm Beach County, they have recently acquired Victoria Park in DeLand from The... Read More
13.2 Percent of U.S. Homeowners Are Behind on Payments or in Foreclosure

Posted by Michael Gerrity 01/12/10 8:00 AM

(JACKSONVILLE, FL) -- According to Lender Processing Services' (NYSE: LPS) December Mortgage Monitor Report, 1 in every 7.5 homeowners (13.2%) in the United States is either behind on mortgage payments or in foreclosure. Read More
Demand for Luxury Homes in Moscow Increased 600 Percent in 2009

Posted by Michael Gerrity 01/11/10 3:38 PM

Luxury home for sale, Moscow (MOSCOW, RUSSIA) -- Despite the recession the demand for luxury real estate in Moscow and St.Petersburg regions in the last 12 month has increased by 6 times, according to recent report of leading Russian analysts.In... Read More
Freddie Mac's Chief Economist Asks, 'Are We There Yet?'

Posted by Michael Gerrity 01/11/10 12:25 PM

Frank Nothaft (WASHINGTON, DC) -- Freddie Mac's (NYSE:FRE) chief economist Frank Nothaft put out a press release today posing an interesting question to the real estate market; "Are We There Yet?"He offers some interesting insights in what the real estate... Read More
Tishman-AECOM Win $16-Million Homeland Security Headquarters Construction Contract

Posted by Michael Gerrity 01/11/10 12:03 PM

Daniel R. Tishman (WASHINGTON, DC) -- According to a prepared statement, Tishman-AECOM, a joint-venture of Tishman Construction Corporation of Washington DC and AECOM announced today that they have been awarded a $16-million federal contract. The "indefinite delivery/indefinite quantity" contract covers... Read More
Downtown Miami Had Total of 2,350 New Condos Sell In 2009

Posted by Michael Gerrity 01/11/10 11:01 AM

(MIAMI, FL) -- According to Condo Vultures LLC, a Bal Harbour Florida consulting firm, 700 new condos where purchased from developers in Greater Downtown Miami in the fourth quarter. Read More
Fannie and Freddie Implement 405,000 Loan Modifications; Refinance 4 Million Loans Through November

Posted by Michael Gerrity 01/08/10 12:47 PM

(WASHINGTON, D.C.) -- The Federal Housing Finance Agency today released its third quarter Foreclosure Prevention & Refinance Report, which shows that as of November 2009, Fannie Mae and Freddie Mac (the Enterprises), implemented more than 405,000 trial and permanent loan... Read More
Fannie Mae Announces New Eligibility Criteria to Bolster Florida's Condo Market

Posted by Michael Gerrity 01/08/10 12:13 PM

(WASHINGTON, D.C.) -- According to Fannie Mae (NYSE:FNM), they are now undertaking a comprehensive review of hundreds of condominium projects in the state of Florida ... Read More
Carlton Group Announces Sale of $307 Million in REO Assets

Posted by Michael Gerrity 01/08/10 12:05 PM

Howard Michaels (NEW YORK, NY) -- The Carlton Group has been retained on behalf of various CMBS trusts on the sale of approximately $307 million of Non-Performing loan and REO assets located throughout the United States, said Carlton Chairman Howard... Read More
Government Reports 85,000 Jobs Were Lost in December, More Than Expected

Posted by Michael Gerrity 01/08/10 11:58 AM

Lawrence Yun (WASHINGTON, DC) -- According to the U.S. labor Department, Nonfarm payroll employment edged down (-85,000) in December, and the unemployment rate was unchanged at 10.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction,... Read More
U.S. Hotels Report Increases in Occupancy and Revenue over New Year Holiday Week

Posted by Michael Gerrity 01/08/10 11:54 AM

(HENDERSONVILLE, TN) -- According to data from STR, the U.S. hotel industry reported increases in occupancy and revenue per available room during the week 27 December 2009-2 January 2010. This is the first week in which two of the three... Read More
Mortgage Rates Start the New Year Slightly Lower

Posted by Michael Gerrity 01/08/10 8:00 AM

(MCLEAN, VA) - According to Freddie Mac's (NYSE:FRE) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 5.09 percent with an average 0.7 point for the week ending January 7, 2009, ... Read More
Orlando's $100 Million Vue Luxury Condo Tower Goes on Auction Block March 15th

Posted by Michael Gerrity 01/07/10 4:30 PM

The Vue, Downtown Orlando (ORLANDO, FL) -- The Vue, a $100 million, 36-story, half-sold 375-unit Downtown Orlando luxury condo tower will be auction off on March 15, 2010 by the Fisher Auction Company of South Florida.Originally built in 2007 by... Read More
Tishman Construction Selected for National Minority Business Award

Posted by Michael Gerrity 01/07/10 4:17 PM

Daniel R. Tishman (NEW YORK, NY) -- Tishman Construction Corporation (TCC) has been selected to receive the "Outstanding Corporate Supplier Diversity Award" from the National Minority Business Council, an organization that helps minority, women and veteran-owned business enterprises (M/WBE).The award... Read More
Landmark Miami Skyscraper Gets Renamed Miami Tower

Posted by Michael Gerrity 01/07/10 2:57 PM

Miami Tower (MIAMI, FL) -- One of the world's most iconic office buildings is receiving a new name and welcoming new tenants. Downtown Miami's Bank of America Tower at International Place, a 600,000 square-foot I.M Pei-designed building recognized around the... Read More
W Hotels to Double Footprint in 2010 with Strong Expansion Plans in Asia

Posted by Michael Gerrity 01/07/10 1:47 PM

W Retreat Koh Samui (SINGAPORE) -- W Hotels Worldwide recently announced that they will double its footprint by early 2011 by adding to the current W hotels in America, Europe, Middle East and Africa, a host of destinations in Asia. Building... Read More
Lennar Homes Reports 29% Drop in Revenues, Becomes Profitable in Q4

Posted by Michael Gerrity 01/07/10 1:39 PM

(MIAMI, FL) -- Today Lennar Corporation (NYSE:LEN) reported results for its fourth quarter and fiscal year ended November 30, 2009.Fourth quarter net earnings in 2009 were $35.6 million, or $0.19 per diluted share, compared to a net loss of $811.0... Read More
2009 Year-Over-Year Home Price Declines Smallest in Three Years, Says Clear Capital

Posted by Michael Gerrity 01/07/10 8:00 AM

(TRUCKEE, CA) -- According to Clear Capital's newly released its Home Data Index (HDI) Market Report, national home prices rebound from slow start to post modest -1.3% yearly price change; Read More
Mortgage Applications Drop, Says Mortgage Bankers Association

Posted by Michael Gerrity 01/06/10 8:58 AM

(WASHINGTON, D.C.) -- According to the Mortgage Bankers Association's (MBA) latest Market Composite Index, a measure of mortgage loan application volume, decreased 22.8 percent on a seasonally adjusted basis from the prior week. For the week ending January 1, 2010,... Read More
Disney Makes Plans for New Times Square Retail Store Location

Posted by Michael Gerrity 01/05/10 3:08 PM

(PASADENA, CA) -- According to a company press release today, The Walt Disney Company (NYSE:DIS) plans to transform an expansive retail space in the heart of New York's Times Square into a magical state-of-the-art, ... Read More
Private, Public Construction Spend at $900 Billion Annualized Rate

Posted by Michael Gerrity 01/04/10 1:01 PM

(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November 2009 was estimated at a seasonally adjusted annual rate of $900.1 billion, 0.6 percent (±1.4%) below the revised October estimate of... Read More
Mortgage Rates Slide Slightly Higher This Week, Says Freddie Mac

Posted by Michael Gerrity 01/01/10 8:37 AM

(MCLEAN, VA) -- According to Freddie Mac's (NYSE:FRE) newly released Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 5.14 percent with an average 0.7 point for the week ending December 31, 2009, up from last week when... Read More
Las Vegas' Existing Home Sales Dip, New Home Sales Spike in November

Posted by Michael Gerrity 01/01/10 8:00 AM

(LAS VEGAS, NV) -- According to MDA DataQuick of San Diego, Las Vegas area home sales dipped last month from October but rose sharply from a year earlier as new-home deals spiked. Read More
STR Reports Global Hotel Performance Results for November

Posted by Michael Gerrity 12/31/09 8:00 AM

(LONDON, UK) -- According to STR Global, the Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for November 2009. In year-over-year comparisons, ... Read More
Home Prices Improving, Says Case-Shiller Home Price Index

Posted by Michael Gerrity 12/29/09 9:37 AM

(NEW YORK, NY) -- According to Standard & Poor's S&P/Case-Shiller Home Price Indices released today, the annual rate of decline of the 10-City and 20-City Composites improved compared to last month's reading. This marks approximately nine months of improved readings... Read More
Long-Term Mortgage Rates Now Over 5%, Says Freddie Mac

Posted by Michael Gerrity 12/25/09 6:16 PM

(MCLEAN, VA) -- According to Freddie Mac's (NYSE:FRE) newly released Primary Mortgage Market Survey (PMMS) for the week ending December 24, 2009, the 30-year fixed-rate mortgage (FRM) averaged 5.05 percent. This is up from last week when the average long-term... Read More
Home Builders Confirm Continued Weakness in U.S. Housing Market

Posted by Michael Gerrity 12/23/09 2:30 PM

Joe Robson (WASHINGTON, D.C.) -- In a prepared statement released today by the National Association of Home Builders (NAHB), they re-emphasized the continued weakness of the nation's housing market with the decline of 11.3 percent of new home sales in... Read More
Lawrence Welk's Famed Cabo Resort Joins Interval's Property Portfolio

Posted by Michael Gerrity 12/23/09 11:43 AM

Welk Resorts Cabo, Sirena del Mar (MIAMI, FL) -- Interval International (Nasdaq:IILG) announced today that Welk Resorts Cabo - Sirena del Mar has joined its vacation exchange network. Overlooking the Sea of Cortez near Cabo San Lucas, Mexico, this... Read More
New Home Sales Implode 11% in November, Says HUD

Posted by Michael Gerrity 12/23/09 10:16 AM

(WASHINGTON, D.C.) -- According to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new one-family houses in November 2009 were at a seasonally adjusted annual rate of 355,000,This is... Read More
U.S. Hotel Market Posts Declines in Key Metrics

Posted by Michael Gerrity 12/23/09 10:10 AM

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research, the U.S. hotel industry posted declines in all three key performance measurements during November.In year-over-year measurements, the industry's occupancy fell 4.3 percent to end the month at 49.5 percent. Average... Read More
Mortgage Applications Decrease in Mid-December, Says MBA

Posted by Michael Gerrity 12/23/09 10:03 AM

(WASHINGTON, D.C.) -- According to the Mortgage Bankers Association (MBA) Weekly Mortgage Applications Survey for the week ending December 18, the Market Composite Index, a measure of mortgage loan application volume decreased 10.7 percent on a seasonally adjusted basis from... Read More
California's November Home Sales Increase 4.7%, Median Price Up 5.8%

Posted by Michael Gerrity 12/22/09 2:24 PM

(LOS ANGELES, CA) -- According to the California Association of Realtors (C.A.R.), home sales increased 4.7 percent in November in California compared with the same period a year ago, while the median price of an existing home rose 5.8 percent."First-time... Read More
Florida's Home, Condo Sales Jump Up 61% and 111% in November

Posted by Michael Gerrity 12/22/09 1:38 PM

(ORLANDO, FL) -- Florida's existing home sales rose in November, marking 15 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. Read More
Monthly U.S. Home Price Index Shows 0.6 Percent Increase

Posted by Michael Gerrity 12/22/09 12:57 PM

(WASHINGTON, D.C.) -- According to the Federal Housing Finance Agency's monthly House Price Index, U.S. house prices rose 0.6 percent on a seasonally adjusted basis from September to October. The previously reported 0.0 (zero) percent change in September was revised... Read More
New York's Home Sales Jump 34% in November

Posted by Michael Gerrity 12/22/09 10:29 AM

(ALBANY, NY) -- According to preliminary existing single-family sales data accumulated by the New York State Association of Realtors, statewide sales of existing single-family homes in New York State jumped 34 percent in November 2009, compared to November 2008, the... Read More
Health Care Bill Threatens Home Building Industry, Says NAHB

Posted by Michael Gerrity 12/22/09 9:45 AM

Joe Robson (WASHINGTON, D.C.) -- According to a prepared statement by the National Association of Home Builders, Senate Democrats have included a last-minute provision targeting the construction industry that is certain to derail the fragile housing recovery and threaten the... Read More
California Extends Mortgage Protection Program to December 2010

Posted by Michael Gerrity 12/22/09 9:00 AM

(LOS ANGELES, CA) -- The California Association of Realtors (C.A.R.) announced this week that they are extending its Mortgage Protection Program (MPP) for first-time home buyers through December 31, 2010. To date, Program has benefited more than 3,100 first-time home... Read More
Orlando Housing Market Showing Signs of Stabilization

Posted by Michael Gerrity 12/21/09 12:26 PM

Roger Soderstrom (ORLANDO, FL) -- According to Roger Soderstrom's newest housing market report, Orlando's housing market is starting to firm up.Soderstrom, CEO of Stirling Sotheby's International Realty, states in his November Central Florida Market Trends Report, "The Central Florida housing... Read More
Holidays Will See a 3.8% Increase in Travelers, Says AAA

Posted by Michael Gerrity 12/21/09 10:43 AM

(ORLANDO, FL) -- According to a report released this week by AAA, 87.7 million Americans are projected to travel 50 miles or more away from home during the year-end holidays. This is a 3.8 percent increase from the 84.5 million... Read More
STR Reports Global Hotel Construction Pipeline

Posted by Michael Gerrity 12/21/09 10:27 AM

European Hotel Market (LONDON, UK) -- According to the November 2009 STR Global Construction Pipeline Report released this week, the Europe hotel development pipeline includes 577 hotels comprising 97,266 rooms. Among the key markets, London, England, reported the largest amount... Read More
Disney Celebrates Hong Kong Disneyland Resort Expansion

Posted by Michael Gerrity 12/18/09 2:51 PM

Disneyland Hong Kong - Groundbreaking Ceremony (HONG KONG) -- The Walt Disney Company celebrated this week the expansion of Hong Kong Disneyland with a groundbreaking ceremony that was held at the Hong Kong Disneyland Resort.The ceremony represents a major milestone... Read More
U.S. Hotel Market Continues Downward Performance Measurements, Says STR

Posted by Michael Gerrity 12/18/09 12:49 PM

(NASHVILLE, TN) -- According to data released today by Smith Travel Research (STR), the U.S. hotel industry posted declines in all three key performance measurements during the week 6-12 December 2009.In year-over-year measurements, the industry's occupancy fell 2.9 percent to... Read More
Luxury Hotel Spas Feel Global Economic Pinch

Posted by Michael Gerrity 12/18/09 12:41 PM

(NASHVILLE, TN) -- According to data released today by Smith Travel Research (STR), luxury spa participants in the Spa STAR performance report continued to show declining performance metrics through the third quarter of 2009.Through September year-to-date, the Average Treatment Rate... Read More
San Francisco Home Sales Dip, Median Prices Rise Again

Posted by Michael Gerrity 12/18/09 10:27 AM

(LA JOLLA, CA) -- The median price paid for a Bay Area home rose above the year-ago level for the second consecutive month, a reflection of widening price stability, fewer foreclosures selling and more activity in pricier areas. Sales dipped... Read More
Wells Fargo Provides a $531 Billion Loan to Refinance Starrett City

Posted by Michael Gerrity 12/18/09 10:19 AM

(NEW YORK, NY) -- According to a prepared statement, Wells Fargo & Company (NYSE: WFC) and Freddie Mac (NYSE: FRE) are announcing the closing of a $531,485,000 Freddie Mac Capital Markets Execution loan for Spring Creek Towers, more commonly known... Read More
Miami's Fisher Island Enjoying an Uptick in Uber-Lux Condo Sales

Posted by Michael Gerrity 12/18/09 8:15 AM

(MIAMI, FL) -- According to several local real estate professionals, the ultra-wealthy residential island community of Fisher Island is experiencing a strong increase in sales activity in the latter half of 2009, amidst a tough real estate economy for most. Read More
Freddie Mac Reports Mortgage Rates Continue Up This Week

Posted by Michael Gerrity 12/17/09 3:10 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.94 percent with an average 0.7 point for the week ending December 17, 2009, up... Read More
Profit Margins Narrow in Q3 for Mortgage Bankers, Says MBA

Posted by Michael Gerrity 12/17/09 9:25 AM

(WASHINGTON, D.C.) -- According to the Mortgage Bankers Association (MBA), independent mortgage bankers and subsidiaries made an average profit of $902 on each loan they originated in the third quarter of 2009. Read More
Home Builders Remain Very Cautious Amidst Housing Production Increase in November

Posted by Michael Gerrity 12/16/09 2:11 PM

(WASHINGTON, DC) -- Nationwide housing production rose 8.9 percent to a seasonally adjusted annual rate of 574,000 units in November, according to figures released by the U.S. Commerce Department today. The gain represented a partial bounce-back from an exceptionally slow... Read More
Tishman Completes Las Vegas' $8.5 Billion CityCenter Project

Posted by Michael Gerrity 12/16/09 1:10 PM

(LAS VEGAS, NV) -- Today the city of Las Vegas celebrates the grand opening of their new $8.5 billion dollar CityCenter mega-project, and the construction company behind the scenes ... Read More
HUD Reports New Residential Construction Numbers for November

Posted by Michael Gerrity 12/16/09 10:35 AM

(WASHINGTON, DC) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2009:BUILDING PERMITSPrivately-owned housing units authorized by building permits in November were at a seasonally adjusted... Read More
Mortgage Applications Increase This Week

Posted by Michael Gerrity 12/16/09 8:38 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending December 11, 2009. The Market Composite Index, a measure of mortgage loan application volume increased 0.3 percent ... Read More
Hotel Industry's HIP Index Drops in November

Posted by Michael Gerrity 12/15/09 2:52 PM

(DURHAM, NH) -- This week, economic research firm e-forecasting.com in conjunction with Smith Travel Research announced HIP hit another bump in November.After edging down 0.1 percent in October, HIP went down 1.8 percent in November. HIP, the Hotel Industry's Pulse... Read More
Trade-up Buyers, Investors and Renters Most Likely to Purchase Foreclosures in 2010

Posted by Michael Gerrity 12/15/09 2:24 PM

(SAN FRANCISCO, CA) -- Trulia.com and RealtyTrac today released the latest results of an ongoing survey tracking home buyers' attitudes towards foreclosures. Read More
NAHB Reports Home Builder Confidence Dips in December

Posted by Michael Gerrity 12/15/09 1:47 PM

(WASHINGTON, DC) - According to the latest NAHB/Wells Fargo Housing Market Index (HMI), released today, builder confidence in the market for newly built, single-family homes receded one point to 16 in December as continued weakness in the economy and job... Read More
Builders Say 2009 Marks Housing's Bottom, 57% Predict Revenues Increase in 2010

Posted by Michael Gerrity 12/15/09 10:58 AM

(IRVINE, CA) -- According to John Burns Real Estate Consulting's newly released December survey of home builders, the majority of surveyed builders ... Read More
U.S. Hotel Pipeline Declines 33% Since November 2008

Posted by Michael Gerrity 12/14/09 1:56 PM

(HENDERSONVILLE, TN) -- According to the November 2009 STR/TWR/Dodge Construction Pipeline Report released this week, the total active U.S. hotel development pipeline includes 3,939 projects comprising 417,412 rooms. This represents a 33.9-percent decrease in the number of rooms in the... Read More
U.S. Hotel Market Posted Further Performance Declines in Early December

Posted by Michael Gerrity 12/11/09 12:59 PM

(HENDERSONVILLE, TN) -- According to newly released data from Smith Travel Research (STR), the U.S. hotel industry posted declines in all three key performance measurements during the week of November 29 to December 5, 2009.In year-over-year measurements, the industry's occupancy... Read More
Orlando's Median Home Price Drops 5.38% in November, Driven by Distressed Sales

Posted by Michael Gerrity 12/11/09 11:13 AM

Downtown Orlando (ORLANDO, FL) -- According to a prepared statement by the Orlando Regional Realtors Association (ORRA) today, Orlando area sales closed 101.62% more homes in November of this year than last, bringing current year-to-date Orlando area sales to 59.43%... Read More
China and India's New Hotel Construction Pipeline Drops 17% from Mid-2008 Peak

Posted by Michael Gerrity 12/11/09 8:00 AM

(PORTSMOUTH, NH) -- According to Lodging Economics' latest Asia Pacific Pipeline Report, there were 1,841 projects and 438,451 rooms at the end of Q3 in the Asia Pacific marketplace. Read More
Mortgage Rates Rise Again, Say Freddie Mac

Posted by Michael Gerrity 12/10/09 2:12 PM

(MCLEAN, VA) - According to Freddie Mac's (NYSE:FRE) newest results of its Primary Mortgage Market Survey (PMMS), 30-year fixed-rate mortgage (FRM) averaged 4.81 percent with an average 0.7 point for the week ending December 10, 2009. This is an uptick... Read More
Mortgage Applications Increase

Posted by Michael Gerrity 12/09/09 8:30 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending December 4, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 8.5 percent on a seasonally adjusted... Read More
Freddie Mac Reports Home Prices Rise 0.9 Percent in Q3

Posted by Michael Gerrity 12/09/09 8:15 AM

(MCLEAN, VA) -- Freddie Mac (NYSE: FRE) announced this week that its Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series registered a 0.9 percent quarterly gain (3.8 percent annualized) during the third quarter 2009 for the U.S., following an upward... Read More
Strong Uptick in Home Prices Within Rust Belt Region, Says New HDI Report

Posted by Michael Gerrity 12/09/09 8:00 AM

(TRUCKEE, CA) -- According to Clear Capital's latest Home Data Index (HDI) Market Report, Detroit's 14.1% quarterly price gain tops all major U.S. markets, ... Read More
EPA's New Storm Water Rules Not Friendly to Home Builder Construction Industry, Says NAHB

Posted by Michael Gerrity 12/08/09 12:50 PM

(WASHINGTON, D.C.) -- According to a statement issued today by the National Association of Home Builders, the Environmental Protection Agency has announced new storm water management requirements for builders. Read More
STR Global Reports Stockholm Hotel Market Treading Water

Posted by Michael Gerrity 12/08/09 9:00 AM

(LONDON, UK) -- According to STR Global, Stockholm's hotel market has experienced only a moderate occupancy decline for the year through October."Compared with the previous year, the overall decline of 4.5 percent has not been as bad as expected", said... Read More
Starwood Opens First of Fifteen New Hotels in India

Posted by Michael Gerrity 12/07/09 2:45 PM

(PUNE KOREGAON, INDIA) -- Starwood Hotels & Resorts Worldwide (NYSE: HOT) today announces the opening of The Westin Pune Koregaon Park - the first of six new Westin Hotels to open in India over the next three years and the... Read More
Mandarin Oriental Hotel and Residences Makes Glitzy Debut at Las Vegas' CityCenter

Posted by Michael Gerrity 12/07/09 1:14 PM

Mandarin Oriental, Las Vegas (LAS VEGAS, NV) -- The luxurious Mandarin Oriental, Las Vegas opened its doors this past Friday, bringing the hotel group's modern elegance and legendary service to the vibrant city. A festive ribbon cutting and feng shui... Read More
Hotel Industry's HIL Index Continues Upward Gains

Posted by Michael Gerrity 12/07/09 10:05 AM

(DURHAM, NH) -- Last week the economic research firm e-forecasting.com in conjunction with Smith Travel Research announced that their U.S. Hotel Industry Leading indicator -- HIL -- went up in October, the seventh consecutive month of increase for the indicator.HIL... Read More
Commercial and Multifamily Mortgage Performance Falls in Q-3, Says MBA

Posted by Michael Gerrity 12/07/09 10:00 AM

(WASHINGTON, D.C.) -- According to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report, the delinquency rates continued to increase in the third quarter for most commercial/multifamily mortgage investor groups."Commercial and multifamily mortgages continued to feel stress in the face of... Read More
U.S. Hotel Performance Down in November

Posted by Michael Gerrity 12/04/09 2:26 PM

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research, the U.S. hotel industry posted declines in all three key performance measurements during the week of 22-28 November 2009.In year-over-year measurements, the industry's occupancy fell 1.7 percent to end the... Read More
Tiffany & Co. Opens Luxury Shop at Las Vegas' CityCenter

Posted by Michael Gerrity 12/04/09 9:30 AM

(LAS VEGAS, NV) -- Tiffany & Co. was the first retailer to open its doors inside Crystals at CityCenter this week with an elegant ribbon cutting ceremony and special Breakfast at Tiffany event.The new two-level Tiffany & Co. store... Read More
Long-Term Mortgage Rates at All Time Lows, Says Freddie Mac

Posted by Michael Gerrity 12/03/09 1:01 PM

(MCLEAN, VA) -- According to Freddie Mac (NYSE:FRE), the results of their Primary Mortgage Market Survey (PMMS) showed the 30-year fixed-rate mortgage (FRM) averaged 4.71 percent with an average 0.7 point for the week ending December 3, 2009, Read More
Europe, Middle East and Africa Hotel Construction Continues to Decline in Q3

Posted by Michael Gerrity 12/03/09 9:57 AM

(PORTSMOUTH, NH) -- According to a report released today by Lodging Econometrics, the total EMEA Pipeline continued its decline in Q3 2009, down to 1,396 projects/305,170 rooms. Project counts have fallen 21% from the Q2 2008 peak, and room counts by 18%. Read More
Vienna Hotel Occupancies Set to Improve in 2010, Says STR Global

Posted by Michael Gerrity 12/02/09 5:00 PM

(LONDON, UK) -- STR Global announced today that after a tough year for the Vienna hotel market coming to a close, it is time to look ahead to 2010. STR Global, working in cooperation with the Oesterreichische Hoteliervereinigung, predicts occupancy... Read More
Loan Deterioration Ratio Climbs Above 3:1, Says Mortgage Monitor Report

Posted by Michael Gerrity 12/02/09 2:46 PM

(JACKSONVILLE, FL) -- According to Lender Processing Services (NYSE: LPS) November Mortgage Monitor report, the nationwide loan deterioration ratio is now above 3:1 - indicating that for every one loan improved, three more loans are deteriorating. Published by LPS, the... Read More
Mortgage Applications on the Rise, Says Mortgage Bankers Association

Posted by Michael Gerrity 12/02/09 9:55 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 27, 2009, which was a shortened week due to the Thanksgiving holiday. The Market Composite Index, a measure of mortgage... Read More
Las Vegas' CityCenter Opens Vdara Resort Hotel and Spa

Posted by Michael Gerrity 12/01/09 7:00 PM

(LAS VEGAS, NV) -- Celebratory events today marked the first opening at CityCenter, the extraordinary urban resort destination destined to refine and redefine the Las Vegas Strip. Read More
Government Reports October 2009 Construction Now at $910.8 Billion Annual Rate

Posted by Michael Gerrity 12/01/09 10:41 AM

(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October 2009 was estimated at a seasonally adjusted annual rate of $910.8 billion, nearly the same as (±1.6%) the revised September estimate... Read More
U.S. Hotel Performance Index Down, Says STR

Posted by Michael Gerrity 11/30/09 4:02 PM

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research (STR), the U.S. hotel industry posted declines in all three key performance measurements during the week of 15-21 November 2009.In year-over-year measurements, the industry's occupancy fell 2.8 percent to end... Read More
California Home Sales in October Increased 1%, Median Prices Declined 3.2%

Posted by Michael Gerrity 11/27/09 2:21 PM

(LOS ANGELES, CA) -- According to the California Association of Realtors (CAR), home sales increased 1 percent in October in California compared with the same period a year ago, while the median price of an existing home declined 3.2 percent."Home... Read More
U.S. Hotels Average Daily Rate Drops 8.2% in October

Posted by Michael Gerrity 11/27/09 11:31 AM

(HENDERSONVILLE, TN) -- According to newly released data from Smith Travel Research (STR), the U.S. hotel industry posted declines in all three key performance measurements during October.In year-over-year measurements, the industry's occupancy fell 6.2 percent to end the month at... Read More
Freddie Mac Reports 30-Year Mortgages at All Time Lows

Posted by Michael Gerrity 11/25/09 11:30 AM

15-Year FRM Drops to Set Another New Low in Freddie Mac Survey History(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today reported the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with... Read More
STR Global Reports Worldwide Hotel Performance Results for October 2009

Posted by Michael Gerrity 11/25/09 11:02 AM

The Americas(LONDON, UK & HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for October 2009, according to data compiled by STR and STR Global. In year-over-year comparisons, occupancy for... Read More
New Home Sales Rise Sharply 6.2% in October, Surprise Many Market Analysts' Forecasts

Posted by Michael Gerrity 11/25/09 10:18 AM

(WASHINGTON, D.C.) -- According to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development, ... Read More
Mortgage Applications Decrease in Latest MBA Weekly Survey

Posted by Michael Gerrity 11/25/09 8:45 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 20, 2009. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.5 percent on a seasonally adjusted... Read More
FHFA Reports House Prices Increase Slightly in Q3, 2009

Posted by Michael Gerrity 11/24/09 1:37 PM

(WASHINGTON, D.C.) -- According to the Federal Housing Finance Agency's (FHFA) seasonally adjusted purchase-only house price index (HPI), U.S. house prices rose modestly in the third quarter of 2009.The HPI, calculated using home sales price information from Fannie Mae and... Read More
STR Releases Hotel Forecasts Through 2011

Posted by Michael Gerrity 11/24/09 11:25 AM

(HENDERSONVILLE, TN) -- According to a Smith Travel Research hotel report released this week, they are now projecting the U.S. hotel industry will report increases in all three key metrics in 2011.STR's forecast projects 2011 occupancy to be up 2.4... Read More
Home Prices Increase Again in Q3, Says Case Shiller Index

Posted by Michael Gerrity 11/24/09 9:48 AM

(NEW YORK, NY) -- Data through September 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices show that the U.S. National Home Price Index improved in the third quarter of 2009, posting its second consecutive quarterly... Read More
Florida's Home and Condo Sales Continues Upward Trend in October

Posted by Michael Gerrity 11/23/09 2:30 PM

(ORLANDO, FL) -- Florida's existing home sales rose in October, marking 14 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. October's statewide sales also increased over sales activity... Read More
New York Home Sales Up 8%, Says NYSAR

Posted by Michael Gerrity 11/23/09 2:08 PM

(ALBANY, NY) -- Driven by buyers wanting to close before the anticipated first-time homebuyer tax credit deadline, October sales jumped nearly 8 percent from the previous month and nearly 6 percent compared to October 2008, according to preliminary existing single-family... Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 11/23/09 1:56 PM

(HENDERSONVILLE, TN) -- According to data from Smith Travel Research, the U.S. hotel industry posted declines in all three key performance measurements during the week of 8-14 November 2009.In year-over-year measurements, the industry's occupancy fell 6.4 percent to end the... Read More
Home Buyer Tax Credit Extension Expected to Drive Home Sales Improvements

Posted by Michael Gerrity 11/20/09 2:54 PM

(IRVINE, CA) -- According to John Burns Real Estate Consulting's November survey of home builders, the housing market chilled in October, but look for improvement now that the expanded tax credit appeals to a much wider range of buyer.The national... Read More
STR Global Reports Worldwide Hotel Pipeline for October 2009

Posted by Michael Gerrity 11/20/09 10:02 AM

Middle East & Africa Markets(LONDON, UK) -- According to the October 2009 STR Global Construction Pipeline Report released this week, the Middle East/Africa hotel development pipeline now includes 437 hotels comprising 120,682 rooms. The United Arab Emirates reported the largest... Read More
NAHB Reports Housing Affordability Index Remains Near Record Highs

Posted by Michael Gerrity 11/19/09 3:55 PM

(WASHINGTON, DC) - According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released today, the nationwide housing affordability, bolstered by affordable interest rates and low house prices, hovered for the third consecutive quarter near its highest... Read More
Freddie Mac Reports 30-Year Rates Near Record Breaking Levels

Posted by Michael Gerrity 11/19/09 1:00 PM

15-Year FRM Drops to Lowest Ever Recorded in Freddie Mac Survey History(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.83 percent with an... Read More
Mortgage Delinquencies Continue to Rise Nationally, Says MBA

Posted by Michael Gerrity 11/19/09 10:55 AM

(WASHINGTON, D.C.) -- The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64 percent of all loans outstanding as of the end of the third quarter of 2009, Read More
MBA Reports Mortgage Applications Decreased This Week

Posted by Michael Gerrity 11/18/09 12:05 PM

(WASHINGTON, D.C.) -- Today the Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending November 13, 2009. The Market Composite Index, a measure of mortgage loan application volume decreased 2.5 percent on a seasonally adjusted... Read More
New Home Starts Decline in October

Posted by Michael Gerrity 11/18/09 11:00 AM

(WASHINGTON, D.C.) -- Nationwide housing production fell 10.6 percent to a seasonally adjusted annual rate of 529,000 units in October as builders awaited word on whether an important home buyer incentive would be extended, according to data released today by... Read More
U.S. Government Reports New Residential Construction Numbers for October

Posted by Michael Gerrity 11/18/09 10:15 AM

(WASHINGTON, D.C.) - Today the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced their new residential construction statistics ... Read More
NAHB Reports Builder Confidence Unchanged in November

Posted by Michael Gerrity 11/17/09 2:55 PM

(WASHINGTON, D.C.) -- In a survey released today by the National Association of Home Builders (NAHB), builder confidence in the market for newly built, single-family homes remained unchanged at a low level this November. The NAHB/Wells Fargo Housing Market Index... Read More
Latin America Hotel Construction Pipeline Continues to Decline

Posted by Michael Gerrity 11/17/09 2:50 PM

Click here to enlarge chart (ORLANDO, FL) -- According to a Lodging Economics report released today, as of the end of Q3 2009 the Latin America Construction Pipeline has a total of 482 projects and 83,291 guest rooms. After 6... Read More
NAHB Says Tax Credit Creates New Economic Opportunities

Posted by Michael Gerrity 11/17/09 9:43 AM

(WASHINGTON, D.C.) -- The National Association of Home Builders (NAHB) is trying to spread the word to consumers about an important new law that extends and expands an attractive tax incentive for potential home buyers. The Worker, Homeownership, and Business... Read More
NAR's Annual Convention Reveals New Leadership, Optimism and Market Predictions for 2010

Posted by Michael Gerrity 11/16/09 3:08 PM

(SAN DIEGO, CA) -- Within two weeks of Congress passing an extension and expansion of the home buyer tax credit program through mid-2010, the feeling of renewed optimism and energy was in the air ... Read More
U.S. Hotels Posted Declines in Early November

Posted by Michael Gerrity 11/16/09 2:56 PM

(HENDERSONVILLE, TN) - According to data from Smith Travel research, the U.S. hotel industry posted declines in all three key performance measurements during the week of 1-7 November 2009.In year-over-year measurements, the industry's occupancy fell 3.6 percent to end the... Read More
Increase in Boomer Housing Sales May Reflect Impact of First-Time Buyer Tax Credit

Posted by Michael Gerrity 11/16/09 12:32 PM

55+ Single-Family Sales Index Rises(WASHINGTON, D.C.) -- According to a release today from the National Association of Home Builders' (NAHB) 55+ Single-Family Housing Market Index, a six-point increase was reported for third quarter of 2009, to a seasonally-adjusted level of... Read More
Abu Dhabi's Yas Island Awarded Leading Tourism Development Project in 2009

Posted by Michael Gerrity 11/13/09 9:00 AM

(ABU DHABI, UAE) -- Aldar Properties' new Yas Island leisure and entertainment destination was selected as the World's Leading Tourism Development Project at the World Travel Awards held earlier this week in London.Launched in 1993 to acknowledge and recognize excellence... Read More
Long-Term Rates Fall to Lowest Level in Five Weeks

Posted by Michael Gerrity 11/12/09 4:17 PM

30-Year FRM Below 5 Percent for Five of the Last Seven Weeks(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.91 percent with an... Read More
California Housing Affordability Index Reached 64 Percent in Q3

Posted by Michael Gerrity 11/12/09 4:00 PM

(LOS ANGELES, CA) -- The percentage of households that could afford to buy an entry-level home in California stood at 64 percent in the third quarter of 2009, compared with 55 percent (revised) for the same period a year ago,... Read More
STR Reports U.S. Hotel Pipeline for October

Posted by Michael Gerrity 11/12/09 12:31 PM

(HENDERSONVILLE, TN) -- According to Smith Travel Research, the total active U.S. hotel development pipeline includes 4,089 projects comprising 435,265 rooms, according to the October 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 32.7-percent decrease in the... Read More
Mortgage Refinance Applications Increase, Purchase Applications at Nine Year Low, Says MBA

Posted by Michael Gerrity 11/12/09 9:11 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 6, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 3.2 percent on a seasonally adjusted... Read More
Florida Home and Condo Sales Continue to Rise in Q3

Posted by Michael Gerrity 11/10/09 2:50 PM

(ORLANDO, FL) -- The Florida Association of Realtors reports today that the sales of existing single-family homes in Florida rose 33 percent in third quarter 2009 compared to the same period a year earlier. Read More
Government Releases Home Affordability Program Results for October

Posted by Michael Gerrity 11/10/09 2:36 PM

(WASHINGTON, D.C.) -- The Obama Administration released today the newest monthly report for the Making Home Affordable (MHA) loan modification program. As part of an ongoing commitment to transparency, the report includes for the first time state-specific trial modification numbers.... Read More
NAHB Reports Multifamily Construction Improved in Third Quarter

Posted by Michael Gerrity 11/10/09 2:24 PM

(WASHINGTON, D.C.) -- According to the National Association of Home Builders (NAHB) and their Multifamily Market Index, the multifamily sector showed signs of improvement in the third quarter of 2009.NAHB's Multifamily Market Rental Indices for the third quarter of 2009... Read More
Two-thirds of Orlando's Home Closings are Foreclosures and Short Sales, Says ORRA

Posted by Michael Gerrity 11/10/09 10:37 AM

(ORLANDO, FL) -- According to a report just released by the Orlando Regional Realtor Association (ORRA), 54.72 percent more homes closed in October of this year than last. ORRA Chairman of the Board Kathleen Gallagher-McIver, RE/MAX Town and Country attributed... Read More
October Mortgage Monitor Report Shows Delinquencies, Foreclosures at Record Highs

Posted by Michael Gerrity 11/10/09 9:28 AM

(JACKSONVILLE, FL) -- The October Mortgage Monitor just released by Lender Processing Services, Inc. (NYSE: LPS), shows record high rates for non-current loans, as well as an upswing in loan production volume over the previous year. Published by LPS, a... Read More
Florida Realtors Pleased with Extension of Homebuyer Federal Tax Credit

Posted by Michael Gerrity 11/06/09 4:40 PM

(ORLANDO, FL) -- According to Florida Realtors, Potential homebuyers have even more incentive to purchase a Florida home thanks to the extension and expansion of the federal $8,000 first-time homebuyer tax credit.President Barack ObamaEarlier today, President Barack Obama signed... Read More
STR Reports U.S. Hotel Performance for October

Posted by Michael Gerrity 11/06/09 11:43 AM

(HENDERSONVILLE, TN) -- According to Smith Travel Research, the U.S. hotel industry posted declines in all three key performance measurements during the week of 25-31 October 2009.In year-over-year measurements, the industry's occupancy fell 7.2 percent to end the week at... Read More
California Home Buyers Win Big with Home Buyer Tax Credit Extension, Says C.A.R.

Posted by Michael Gerrity 11/06/09 9:30 AM

(LOS ANGELES, CA) -- In a prepared release today the California Association of Realtors (C.A.R.) stated they commended Congress and the Senate for its swift actions in extending and expanding the provisions of the Federal Tax Credit for First-time... Read More
Chinese Government Green-Lights New Walt Disney Theme Park in Pudong

Posted by Michael Gerrity 11/06/09 9:00 AM

(BURBANK, CA) -- In a prepared released this past week, The Walt Disney Company (NYSE:DIS) announced that they just received approval from the relevant authorities of the central government of China for a Disney theme park in the Pudong district... Read More
Home Builders Pleased by Congress Extending Home Buyer Tax Credit until April 30, 2010

Posted by Michael Gerrity 11/05/09 4:00 PM

(WASHINGTON, D.C.) -- In a prepared statement released today, the National Association of Home Builders (NAHB) applauded Congress for passing legislation that will extend and expand the $8,000 first-time home buyer tax credit, Read More
Freddie Mac Reports 30-Year Fixed Rate Falls Below 5 Percent

Posted by Michael Gerrity 11/05/09 3:20 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an average 0.7 point for the week ending November 5, 2009, down... Read More
Disney Debuts Newest Member of Cruise Fleet in Early 2011

Posted by Michael Gerrity 11/05/09 12:32 PM

(News Source: Walt Disney World Resorts)(CELEBRATION, FL) -- When the Disney Dream debuts in early 2011, the newest ship in the Disney Cruise Line fleet will bring to life new innovations that include a first-of-its kind water coaster that sends... Read More
NAHB Reports Modest Improvements in Home Remodeling Marketplace

Posted by Michael Gerrity 11/05/09 12:16 PM

(WASHINGTON, D.C.) -- Although residential remodeling remained relatively weak during the third quarter of 2009, remodelers are starting to report that conditions in their markets are stabilizing, according to the latest National Association of Home Builders' (NAHB) Remodeling Market Index... Read More
U.S. Home Price Gains Shrink to 3.7%, Says Clear Capital

Posted by Michael Gerrity 11/05/09 8:00 AM

(TRUCKEE, CA) -- National quarterly price gains continue to slow as the winter season approaches; investor activity helps Riverside, Calif. and Miami, Fla. price improvements; and muted REO influences help limit price declines in Seattle, Wash. Read More
Ft. Lauderdale Boat Show May Be Early Market Barometer for Luxury Home Sales Uptick

Posted by Michael Gerrity 11/04/09 12:36 PM

(FT. LAUDERDALE, FL) -- The numbers are telling. The 50th anniversary of the 2009 Ft. Lauderdale International Boat Show delivered much better yacht sales ... Read More
MBA Reports Mortgage Refinance Applications Increase in Latest Survey

Posted by Michael Gerrity 11/04/09 10:25 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 30, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 8.2 percent on a seasonally adjusted... Read More
ARDA Applauds Florida Attorney General's Office for Recent Injunction against Fraudulent Timeshare Resale Operation

Posted by Michael Gerrity 11/03/09 3:50 PM

Howard Nusbaum (WASHINGTON, D.C.) -- The following statement was released today by Howard Nusbaum, president and CEO of the American Resort Development Association (ARDA), in response to the Florida Attorney General's Office move on Monday to seek an emergency injunction... Read More
Dubai's Emaar Properties Two New 5-Star Resorts Wins Top Honors at Arabian Property Awards

Posted by Michael Gerrity 11/03/09 3:40 PM

(DUBAI, U.A.E.) -- Two properties of The Address Hotels + Resorts, the hotel brand of Emaar Hospitality Group, have won the 'Best Hotel Dubai' honors at the Arabian Property Awards. Read More
$3 Billion Saved in Mortgage Payments by Borrowers Who Refinanced in Q-3

Posted by Michael Gerrity 11/03/09 8:50 AM

(MCLEAN, VA) -- In the third quarter of 2009, one-half of borrowers who refinanced their conventional loan lowered their annual mortgage interest rate by at least 17 percent according to Freddie Mac's quarterly Refinance Report. Read More
Abu Dhabi's Ferrari World Mega Structure Exterior Now Completed

Posted by Michael Gerrity 11/02/09 3:10 PM

(ABU DHABI, U.A.E.) -- Aldar Properties, Abu Dhabi's leading property development and investment company, recently announced the completion of the external structure of Ferrari World Abu Dhabi.Formula 1™ Track, Yas Island Located on Yas Island, Aldar's brand new Retail, Leisure... Read More
U.S. Government Reports Construction Spend at $940.3 Billion Annual Rate

Posted by Michael Gerrity 11/02/09 1:53 PM

(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during September 2009 was estimated at a seasonally adjusted annual rate of $940.3 billion, 0.8 percent (±1.8%) above the revised August estimate of... Read More
Abu Dhabi's Newest 5-Star Resort Opened This Week

Posted by Michael Gerrity 10/30/09 10:33 AM

(ABU DHABI, UAE) -- Abu Dhabi is on a roll.Amidst the toughest real estate slowdown in decades, Abu Dhabi announced a breathtaking a new five-star luxury resort that epitomizes the culture and roots of the United Arab Emirates. Qasr al... Read More
Freddie Mac Reports Mortgage Rates Nearly Flat in New Survey

Posted by Michael Gerrity 10/29/09 3:15 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.03 percent with an average 0.7 point for the week ending October 29, 2009, up from last week when it averaged 5.00 percent. Read More
Ending of First-time Home Buyer Tax Credit Affecting New Home Sales Slowdown, Says NAHB

Posted by Michael Gerrity 10/28/09 2:40 PM

(WASHINGTON, D.C.) -- After five consecutive months of increases, sales of newly built, single-family homes fell 3.6 percent to a seasonally adjusted annual rate of 402,000 units in September, according to data released by the U.S. Commerce Department today.Joe Robson... Read More
U.S. Government Reports New Residential Home Sales Slip in September

Posted by Michael Gerrity 10/28/09 10:14 AM

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development reported today that the sales of new one-family houses in September 2009 were at a seasonally adjusted annual rate of 402,000.This is 3.6 percent (±10.2%)... Read More
Mortgage Applications Decrease, Says MBA

Posted by Michael Gerrity 10/28/09 9:15 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 23, 2009. The Market Composite Index, a measure of mortgage loan application volume, decreased 12.3 percent on a seasonally adjusted basis from one week earlier. Read More
Key Global Hotel Performance Metrics Are Mixed in September

Posted by Michael Gerrity 10/28/09 9:00 AM

(LONDON, UK & HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for September 2009, according to data compiled by STR and STR Global. Read More
S&P/Case-Shiller Home Price Index Reports Continued Upward Movement

Posted by Michael Gerrity 10/27/09 12:10 PM

(NEW YORK, NY) -- Data through August 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the annual rate of decline of the 10-City and 20-City Composites improved compared to last month's reading. Read More
California Home Sales Jump 2.1% in September, Home Prices Slide Another 7.3%

Posted by Michael Gerrity 10/26/09 6:00 PM

(LOS ANGELES, CA) -- Home sales increased 2.1 percent in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3 percent, the California Association of Realtors (C.A.R.) reports this week. Read More
MBA Convenes Council to Ponder the Future of FHA

Posted by Michael Gerrity 10/26/09 2:02 PM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today announced it has convened an executive-level panel of members to make policy recommendations to help ensure that the Federal Housing Administration (FHA) can continue to fulfill its mission in an evolving mortgage marketplace. Read More
Dubai's Emaar Properties Reports Y-T-D Revenues of USD $1.47 Billion

Posted by Michael Gerrity 10/23/09 2:48 PM

(DUBAI, U.A.E.) -- Emaar Properties PJSC, the Dubai-based global property developer, has recorded revenues of AED 5,429 million (US$ 1,478 million) in the first nine months of 2009, led by its strategy of strengthening customer-oriented initiatives to support property purchases and a commitment to project delivery. Read More
STR Reports Latest U.S. Hotel Performance Stats

Posted by Michael Gerrity 10/23/09 12:01 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 11-17 October 2009, according to data from STR. Read More
Florida's Existing Home Sales Jump 34%, Condo Sales Jump 77% in September

Posted by Michael Gerrity 10/23/09 11:38 AM

(ORLANDO, FL) -- Florida's existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. Read More
New York's Statewide Home Sales Jump 31% in Q3

Posted by Michael Gerrity 10/23/09 10:35 AM

(ALBANY, NY) -- Driven by solid July and August sales, the New York State housing market posted more than 31 percent growth in the third quarter compared to the second quarter, according to preliminary existing single-family sales data accumulated by the New York State Association of Realtors. Read More
30-Year Fixed-Rate Mortgages Rise to 5 Percent, Says Freddie Mac

Posted by Michael Gerrity 10/22/09 3:55 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.00 percent with an average 0.7 point for the week ending October 22, 2009, up from last week when it averaged 4.92 percent. Read More
Credit Crisis Continues to Significantly Affect Hotel Development

Posted by Michael Gerrity 10/22/09 2:00 PM

(PORTSMOUTH, NH) -- Early in the cycle, larger (150 rooms or more), high-end projects were impacted the most, as institutional-sized lenders halted real estate lending. Today, regional and community banks are experiencing growing balance sheet difficulties of their own Read More
U.S. Monthly House Price Index Reports 0.3 Percent Price Decline in August

Posted by Michael Gerrity 10/22/09 1:47 PM

(WASHINGTON, D.C.) -- U.S. home prices fell 0.3 percent on a seasonally-adjusted basis from July to August, according to the Federal Housing Finance Agency's monthly House Price Index. Read More
Mandarin Oriental Showcases Las Vegas' Most Sophisticated Meeting Facilities

Posted by Michael Gerrity 10/21/09 9:32 AM

(News Source: Mandarin Oriental)(LAS VEGAS, NV) -- New world-class function facilities will redefine Las Vegas events, whether for a high-level business conference or social soirée, when Mandarin Oriental, Las Vegas opens in December 2009. Featuring more than 12,000 square feet... Read More
Mortgage Applications Decrease Says Mortgage Bankers Association

Posted by Michael Gerrity 10/21/09 9:29 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 16, 2009. This week's results include an adjustment to account for the Columbus Day holiday. Read More
Builders Plead with Congress to Extend Home Buyer Tax

Posted by Michael Gerrity 10/20/09 3:09 PM

(WASHINGTON, D.C.) -- In order to create hundreds of thousands of badly needed jobs and move the economy to higher ground, the National Association of Home Builders (NAHB) today called on Congress to extend and expand the $8,000 first-time home buyer tax credit set to expire at the end of next month. Read More
Housing Starts Remain Flat in September

Posted by Michael Gerrity 10/20/09 12:06 PM

(WASHINGTON, D.C.) -- Nationwide housing production remained virtually unchanged in September, edging up half of a percent to a seasonally adjusted annual rate of 590,000 units, according to U.S. Commerce Department figures released today. Read More
Government Reports New Residential Construction Numbers for September 2009

Posted by Michael Gerrity 10/20/09 11:25 AM

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for September 2009. Read More
Builder Confidence Slips in October

Posted by Michael Gerrity 10/19/09 1:52 PM

(WASHINGTON, D.C.) -- With the expiration date for an important home buyer incentive approaching, builder confidence in the market for newly built, single-family homes slipped one point to 18 in October, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Read More
Housing Starts Near Bottom, Says Metrostudy

Posted by Michael Gerrity 10/19/09 10:47 AM

(HOUSTON, TX) -- In advance of the national housing starts figures to be released Tuesday by the U.S. Department of Commerce, national housing market research firm Metrostudy has updated its forecast of starts for 2009. Read More
U.S. Hotel Market Post Declines in 3 Key Metrics Last Week

Posted by Michael Gerrity 10/16/09 3:37 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of October 4-10, 2009, according to data from STR. Read More
30-Year Fixed Rate Still Below 5 Percent for Third Consecutive Week

Posted by Michael Gerrity 10/15/09 2:43 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.92 percent with an average 0.7 point for the week ending October 15, 2009, Read More
Massey Knakal Reports Manhattan Q3 Building Sales Activity

Posted by Michael Gerrity 10/15/09 1:45 PM

(NEW YORK, NY) -- Massey Knakal Realty Services released their exclusive third quarter Manhattan Building Sales Report. This industry leading report provides a comprehensive review of the entire Manhattan investment sales market south of 96th Street east of Central Park and south of 110th Street west of Central Park. Read More
STR Reports Canadian Hotel Pipeline for September 2009

Posted by Michael Gerrity 10/15/09 10:40 AM

(HENDERSONVILLE, TN) -- At the end of the third quarter of the calendar year, the Canadian hotel development pipeline includes 216 projects comprising 24,462 rooms, according to the September 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More
U.S. Hotel Development Drops Thirty One Percent

Posted by Michael Gerrity 10/14/09 1:45 PM

(HENDERSONVILLE, TN) -- The total active U.S. hotel development pipeline includes 4,218 projects with 450,899 rooms, according to the September 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More
October Hotel Forecast Holds Steady, Says STR

Posted by Michael Gerrity 10/14/09 10:50 AM

(HENDERSONVILLE, TN) -- As the U.S. hotel industry traverses the precarious gulf between the summer months and the conference travel season, the year-end projections have not been adjusted, according to STR's monthly forecast. Read More
New Luxury Condo Tower Coming to Kuala Lumpur's Business District

Posted by Michael Gerrity 10/14/09 10:45 AM

(KUALA LAMPUR, MALAYSIA) - Malaysia-listed premier property developer Eastern & Oriental Berhad (E&O Group) today announced the official launch of St Mary Residences Tower A targeting international home purchasers. Read More
Hotel Industry Pulse Index Stalls, Says STR

Posted by Michael Gerrity 10/13/09 1:20 PM

(DURHAM, NH) -- Economic research firm e-forecasting.com in conjunction with Smith Travel Research announced the HIP hit a snag in its recovery. After going up two months in a row, HIP declined 2.1 percent in September. Read More
Las Vegas CityCenter Reveals The SPA at ARIA Resort

Posted by Michael Gerrity 10/13/09 12:15 PM

(LAS VEGAS, NV) -- Synchronizing balance and beauty, The Spa at ARIA invites guests into a peaceful haven where nature's healing properties take center stage. Salt, stone, earth, fire and water join to create a spa experience that will elevate guests to a meditative state for introspection and relaxation. Read More
Homes Sold in Orlando Continue Rise, Pending Sales Pipeline Building

Posted by Michael Gerrity 10/13/09 11:39 AM

(ORLANDO, FL) -- Members of the Orlando Regional Realtor Association in September sold 54.30 percent more homes than in September of last year, contributing to the area's year-to-date sales increase of 50.69 percent. Read More
The City of Orlando Celebrates Opening of World-Class Medical Center

Posted by Michael Gerrity 10/12/09 11:55 AM

(ORLANDO, FL) -- This past Thursday Orlando Mayor Buddy Dyer was joined by Florida Governor Charlie Crist and Orange County Mayor Richard Crotty to officially open the Burnham Institute for Medical Research (BIMR). Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 10/12/09 10:10 AM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 27 September - 3 October 2009, according to data from STR. Read More
Iconic Burj Dubai Tower Nearing Completion

Posted by Michael Gerrity 10/09/09 10:04 AM

(News Source: Emaar Properties)(DUBAI, UAE) -- Exterior cladding for Burj Dubai, the world's tallest building being developed by Emaar Properties PJSC, is now complete. The tower has accomplished a world record for the highest installation of an aluminum and glass... Read More
Abu Dhabi's TDIC Reports on Thirteen Key UAE Projects at Dubai Cityscape Event

Posted by Michael Gerrity 10/09/09 9:47 AM

(News Source: TDIC)Saadiyat Island, Abu Dhabi, UAE (ABU DHABI, U.A.E.) -- Tourism Development & Investment Company (TDIC), a master developer of cultural, residential, and tourism destinations in Abu Dhabi, has published a comprehensive Progress Delivery Report providing an overview of... Read More
Long-Term Mortgage Rates Ease Further This Week

Posted by Michael Gerrity 10/09/09 8:45 AM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.87 percent with an average 0.7 point for the week ending October 8, 2009, Read More
Curacao's Upscale $700M Santa Barbara Plantation Prepares for Winter Opening

Posted by Michael Gerrity 10/09/09 8:30 AM

(CURACAO, LESSER ANTILLES) -- Nestled in the southeast corner of the Caribbean Island of Curacao is a soon to be completed $700M luxury golf and oceanfront resort community called Santa Barbara Plantation. Read More
HDI Reports Late-Summer Softening of Home Price Gains, Reduced REO Saturation Rates

Posted by Michael Gerrity 10/08/09 8:30 AM

(TRUCKEE, CA) -- Clear Capital today released its Home Data Index™ (HDI) Market Report which is compiled through September 25, 2009. Read More
C.A.R. Releases California Housing Market Forecast for 2010

Posted by Michael Gerrity 10/07/09 3:15 PM

(LOS ANGELES, CA) - "California's housing market continued its strong sales rebound this year, resulting from the continued pace of distressed properties coming to market," said C.A.R. President James Liptak. Read More
Timeshare Industry Proves Resilient

Posted by Michael Gerrity 10/07/09 12:15 PM

(WASHINGTON, D.C.) -- Despite tighter credit markets and high unemployment rates, the U.S. timeshare industry continues to demonstrate its resilience. Read More
Italian Hotel Market Thriving During Recession

Posted by Michael Gerrity 10/07/09 11:52 AM

(LONDON, UK) -- Recent data released by STR Global shows improving conditions in the Italian hotel market. Occupancy in Rome showed an increase of 17.9 percent during August 2009 compared with the same period from the previous year. Read More
Mortgage Applications Increase; Third Consecutive Week Fixed Rates Below Five Percent

Posted by Michael Gerrity 10/07/09 9:50 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 2, 2009. The Market Composite Index, ... Read More
Hotel Supply Increases Hit RevPAR in Russia

Posted by Michael Gerrity 10/06/09 1:33 PM

(LONDON, UK) -- Moscow and St. Petersburg, the two Russian cities tracked by STR Global reported revenue per available room (RevPAR) declines for the first eight months of 2009. The increasing supply within both cities coupled with declining demand Read More
UCF Approves Master's Degree Program for Dr. P. Phillips School of Real Estate

Posted by Michael Gerrity 10/06/09 1:12 PM

(ORLANDO, FL) -- The University of Central Florida's Board of Trustees approved a Master's degree program for the Dr. P. Phillips School of Real Estate originally spearheaded by NAIOP Central Florida, the Commercial Real Estate Development Association, Read More
Builders Ready to Work With White House, Congress to Extend Home Buyer Tax Credit

Posted by Michael Gerrity 10/06/09 10:55 AM

(WASHINGTON, D.C.) -- The National Association of Home Builders (NAHB) today commended the White House for recognizing the success of the $8,000 first-time home buyer tax credit and that extending the program past its Dec. 1 expiration date will help to bolster the economy. Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 10/05/09 2:00 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 20-26 September 2009, according to data from STR. Read More
Miami's 1450 Brickell Tower Signs largest Office Lease Deal in South Florida in 2009

Posted by Michael Gerrity 09/30/09 1:25 PM

(MIAMI, FL) -- 1450 Brickell, a 'class-A' office tower currently under construction in Miami's Brickell Financial District, has finalized a lease agreement ... Read More
FHFA Refinance Report Underscores Impact of Interest Rates on Refinance Volumes

Posted by Michael Gerrity 09/30/09 9:45 AM

(WASHINGTON, D.C.) -- Fannie Mae and Freddie Mac refinanced more than 3.2 million mortgage loans in 2009 through August of this year. In the month of August alone, nearly 360,000 mortgages were refinanced. Read More
Commercial/Multifamily Market Feels Impact of Continued Economic Pressures

Posted by Michael Gerrity 09/30/09 9:40 AM

(WASHINGTON, DC)- The Mortgage Bankers Association (MBA) today released its Commercial Real Estate/Multifamily Finance Quarterly Data Book for the second quarter of 2009. The analysis focuses on how the continued economic downturn in the United States placed further pressure ... Read More
Mortgage Applications Down This Week, Says MBA

Posted by Michael Gerrity 09/30/09 9:30 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 25, 2009. The Market Composite Index, ... Read More
Hotel Industry Indicators Show Improvement, Says STR

Posted by Michael Gerrity 09/29/09 10:07 AM

(DURHAM, NEW HAMPSHIRE) -- This morning economic research firm e-forecasting.com in conjunction with Smith Travel Research announced that their US hotel industry leading indicator - HIL - went up in August for the fourth consecutive month. Read More
Case-Shiller Home Price Index Reports Sixth Consecutive Month of Positive Gains

Posted by Michael Gerrity 09/29/09 9:45 AM

(NEW YORK, NY) -- Data through July 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that, although still negative, ... Read More
IATA Reports Air Traffic Volumes Improve, But Costs Rising

Posted by Michael Gerrity 09/29/09 9:13 AM

(GENEVA, SWITZERLAND) -- The International Air Transport Association (IATA) today announced international scheduled traffic results for August. Compared to August 2008, passenger demand was down 1.1%, Read More
Survey Shows Credit Woes Threaten Housing Recovery

Posted by Michael Gerrity 09/28/09 1:25 PM

(WASHINGTON, D.C.) -- Nearly two-thirds of single-family home builders are reporting a severe lack of credit for housing production, threatening the fragile housing recovery before it has time to take hold, Read More
New-Home Sales Rise Marginally in August

Posted by Michael Gerrity 09/25/09 6:00 PM

(WASHINGTON, DC) -- Following four months of solid gains, sales of newly built, single-family homes edged up by less than one percent in August as the window for an important buyer incentive began to close, Read More
California August Home Sales Increased 9%; Median Home Prices Dropped 16.9%

Posted by Michael Gerrity 09/25/09 1:50 PM

(LOS ANGELES, CA) -- Home sales increased 9 percent in August in California compared with the same period a year ago, while the median price of an existing home declined 16.9 percent, the California Association of Realtors (C.A.R.) reported today. Read More
STR Reports Global Hotel Performance for August 2009

Posted by Michael Gerrity 09/25/09 12:45 PM

(LONDON and HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for August 2009, according to data compiled by STR and STR Global. Read More
US Commerce Department Releases New Homes Sales Numbers for August 2009

Posted by Michael Gerrity 09/25/09 10:20 AM

(WASHINGTON, D.C.) - Sales of new one-family houses in August 2009 were at a seasonally adjusted annual rate of 429,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. Read More
Florida's Existing Home, Condo Sales Up in August Says F.A.R.

Posted by Michael Gerrity 09/24/09 12:43 PM

(ORLANDO, FL) -- Florida's existing home sales rose in August - marking a full calendar year (12 months) that sales activity increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. Read More
Outstanding Commercial / Multifamily Mortgage Debt Declines in Q2

Posted by Michael Gerrity 09/24/09 12:28 PM

(WASHINGTON, D.C.) -- The level of commercial/multifamily mortgage debt outstanding decreased in the second quarter, to $3.47 trillion, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data. Read More
New York Housing Market Stays on Track in August

Posted by Michael Gerrity 09/24/09 12:20 PM

(ALBANY, NY) -- The New York State housing market posted a solid monthly sales total in August despite falling slightly below the July 2009 level and ending five consecutive months of growth, Read More
STR Reports U.S. Hotel Performance for August

Posted by Michael Gerrity 09/23/09 12:15 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during August, according to data from STR. Read More
Mortgage Refinance Applications Increase as Rates Drop in Latest MBA Weekly Survey

Posted by Michael Gerrity 09/23/09 10:30 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 18, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 12.8 percent ... Read More
Prague Selling Itself Short, Says STR Global Report

Posted by Michael Gerrity 09/22/09 1:02 PM

(LONDON, UK) -- Results for Prague were consistently gloomy for the year to date, as a general lack of demand and oversupply of hotels drove the market's key performance indicators deep into negative territory, Read More
ARDA Reports Vacations Can Make Kids Smarter

Posted by Michael Gerrity 09/22/09 11:28 AM

(WASHINGTON, D.C.) -- As the nation's children settle in for another school year, many parents and teachers wonder how the summer break affected their children's academic achievement. Read More
U.S. Government Reports Monthly House Price Index Rose 0.3 Percent from June to July

Posted by Michael Gerrity 09/22/09 11:20 AM

(WASHINGTON, D.C.) -- U.S. home prices rose 0.3 percent on a seasonally-adjusted basis from June to July, according to the Federal Housing Finance Agency's monthly House Price Index. Read More
NAHB, NAR, MBA All Say Appraisal Reform is Needed

Posted by Michael Gerrity 09/22/09 10:20 AM

(WASHINGTON, D.C.) -- The National Association of Home Builders (NAHB) today hosted a Residential Real Estate Appraisal Summit with federal regulatory agencies and the major housing and financial institution stakeholder and appraisal organizations Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 09/21/09 3:01 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 6-12 September 2009, according to data from STR. Read More
Australia's Hotel Industry Faring Well in 2009 Says STR Global

Posted by Michael Gerrity 09/21/09 11:00 AM

(LONDON, UK) -- Though not immune to the global economic recession, the Australian hotel industry is faring well in local currency terms (Australian Dollar), according to data compile by STR Global, the leading provider of market data to the world's hotel industry. Read More
Forty Percent of California's First-time Home Buyers Significantly Influenced by Tax Credit

Posted by Michael Gerrity 09/21/09 8:30 AM

(LOS ANGELES, CA) -- Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, Read More
STR Global Reports Worldwide Hotel Development Pipeline for August 2009

Posted by Michael Gerrity 09/18/09 11:15 AM

(LONDON, UK) -- The Central/South America hotel development pipeline includes 145 projects with 21,750 rooms, according to the August 2009 STR Global Construction Pipeline Report released this week. Read More
Long-Term Rates Down For Third Consecutive Week

Posted by Michael Gerrity 09/18/09 10:50 AM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.04 percent with an average 0.7 point for the week ending September 17, 2009, ... Read More
Government Reports New Residential Construction Numbers for August 2009

Posted by Michael Gerrity 09/17/09 12:13 PM

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2009: Read More
Single-Family Starts Ease as Credit Deadline Looms

Posted by Michael Gerrity 09/17/09 12:00 PM

(WASHINGTON, D.C.) -- Production of new single-family homes slowed in August as the expiration date for an important buyer incentive drew nearer, according to figures released by the U.S. Commerce Department today. Read More
Mortgage Applications Decrease in Latest MBA Weekly Survey

Posted by Michael Gerrity 09/16/09 4:08 PM

(News Source: Mortgage Bankers Association)(WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 11, 2009. This week's results include an adjustment to account for the Labor Day holiday. The... Read More
Vegas' CityCenter Plans a Multi-Tower Grand Opening in December

Posted by Michael Gerrity 09/16/09 3:50 PM

(LAS VEGAS, NV) -- In just three short months, the world will be introduced to CityCenter. An extraordinary urban resort destination brought to life by eight world-renowned architects, ... Read More

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Home Builder Confidence Index Edges Up Again in September

Posted by Michael Gerrity 09/16/09 1:19 PM

(WASHINGTON, D.C.) -- Builder confidence in the market for newly built, single-family homes edged higher for a third consecutive month in September, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), Read More
New NAHB Survey Reports Baby Boomers Want Convenience and Energy Efficiency in New Homes

Posted by Michael Gerrity 09/15/09 3:00 PM

(WASHINGTON, D.C.) -- A survey released today reveals that 55+ Americans would prefer suburban living in single-story homes with amenities, particularly high-speed Internet access, ... Read More
Home Buyers Want to Save Energy - But Only at the Right Price

Posted by Michael Gerrity 09/15/09 11:50 AM

(WASHINGTON, D.C.) -- Even though prospective home buyers want the benefits of new, more efficient homes, they are unwilling to pay much more for a "green" home, according to a recent member survey from the National Association of Home Builders (NAHB). Read More
STR Reports U.S. Hotel Pipeline for August 2009

Posted by Michael Gerrity 09/15/09 11:39 AM

(HENDERSONVILLE, TN) -- The total active U.S. hotel development pipeline includes 4,384 projects with 475,521 rooms, according to the August 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More
Las Vegas CityCenter's Aria and Vdara Resort Hotels Receive LEED Gold Certification Status

Posted by Michael Gerrity 09/14/09 4:30 PM

(LAS VEGAS, NV) -- CityCenter announced today that it has received three Leadership in Energy and Environmental Design (LEED) Gold Certifications from the U.S. Green Building Council for ARIA Resort's hotel tower, ARIA's convention center and the Vdara Hotel. Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 09/11/09 3:00 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 30 August-5 September 2009, according to data from STR. Read More
Bank-owned and Distressed Sales Drives Down Orlando's Median Home Price

Posted by Michael Gerrity 09/11/09 11:50 AM

(ORLANDO, FL) -- The median price of all homes sold during the month of August dropped to $128,000, a trend that Les Simmonds, L.G. Simmonds Real Estate Corp., president of the Orlando Regional Realtors Association, expects to continue as the tremendous backlog of bank-owned and distressed home sales ... Read More
STR's 2009 Hotel Projections Hold Steady

Posted by Michael Gerrity 09/11/09 10:00 AM

(HENDERSONVILLE, TN) -- Although July performance results were better-than-expected, the year-end 2009 projections have not been adjusted, according to STR's monthly forecast. Read More
MBA Says: Don't Include Cram Down in Regulatory Reform

Posted by Michael Gerrity 09/10/09 9:00 AM

(WASHINGTON, D.C.) -- In response to discussion today in the House Financial Services Committee raising the possibility that a regulatory reform bill could include provisions allowing bankruptcy judges to modify mortgages on primary residences, Read More
STR Reports on German Hotel Performance

Posted by Michael Gerrity 09/10/09 8:00 AM

(LONDON, UK) -- The German hotel industry has not experienced the steepest performance declines during the economic crisis, but actual occupancy, average daily rate and revenue per available room still remained low compared with Europe. Read More
Commercial/Multifamily Delinquency Rates Continue to Climb in Q2

Posted by Michael Gerrity 09/09/09 1:50 PM

(WASHINGTON, D.C.) -- Delinquency rates continued to increase in the second quarter for all commercial/multifamily mortgage investor groups, according to the Commercial/Multifamily Delinquency Report from the Mortgage Bankers Association (MBA). Read More
The Rain in Spain

Posted by Michael Gerrity 09/09/09 1:29 PM

(LONDON, UK) -- With visitor numbers expected to drop 10 percent in 2009, the Spanish hotel market is suffering greater year-on-year declines in performance than some of its European neighbors. Read More
Lower Rates Spur Mortgage Applications in Latest MBA Survey

Posted by Michael Gerrity 09/09/09 1:17 PM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 4, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 17.0 percent ... Read More
Bond Yields Push Mortgage Rates Down Slightly This Week

Posted by Michael Gerrity 09/04/09 12:00 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.08 percent with an average 0.7 point for the week ending September 3, 2009, Read More
Lodging Econometrics Reports New Hotel Openings for Europe, Middle East & Africa

Posted by Michael Gerrity 09/04/09 11:30 AM

(PORTSMOUTH, NH) -- For the first time, Lodging Econometrics (LE) has compiled and announced its 2011 Forecast for New Hotel Openings for Europe, the Middle East and Africa. 322 projects/72,077 rooms are forecasted to come online in 2011. Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 09/04/09 10:30 AM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 23-29 August 2009, according to data from STR. Read More

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Florida Governor, VISIT FLORIDA Tackle Tourism Downturn

Posted by Michael Gerrity 09/04/09 10:00 AM

(MIAMI, FL) -- Because tourism is one of the biggest economic engines of the state, Florida Governor Charlie Crist and the state's VISIT FLORIDA tourism board held a special summit Read More
Puerto Rico's First Luxury 5-Star Beachfront Community is Thriving Amid a Global Slowdown

Posted by Michael Gerrity 09/04/09 8:30 AM

(BAHIA BACH, PUERTO RICO) -- Located just under the foothills of the tropical rain forests of El Yunque is a thriving upscale 483-acre, master-planned beachfront resort and golf community with two miles of private beachfront ... Read More
MBA Offers Proposed Framework for Government Role in Secondary Mortgage Market

Posted by Michael Gerrity 09/02/09 9:11 AM

(WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released a new paper outlining a proposed framework for a refined government role in the secondary mortgage market designed to ensure liquidity for mortgages without presenting unnecessary risks for the taxpayer. Read More
Mortgage Applications Decrease in Latest MBA Weekly Survey

Posted by Michael Gerrity 09/02/09 9:02 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 28, 2009. The Market Composite Index, a measure of mortgage loan application volume, Read More
Home Prices Rose 1.7 Percent in Second Quarter 2009

Posted by Michael Gerrity 09/01/09 3:40 PM

(MCLEAN, VA) -- Freddie Mac (NYSE: FRE) announced today that its Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series registered a 1.7 percent quarterly gain (7.0 percent annualized) during the second quarter 2009 for the U.S., Read More
July Construction Spending at $958 Billion Annual Rate

Posted by Michael Gerrity 09/01/09 12:46 PM

(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during July 2009 was estimated at a seasonally adjusted annual rate of $958.0 billion, Read More
Le Méridien Hotels & Resorts Expands Into Vietnam

Posted by Michael Gerrity 09/01/09 9:15 AM

(News Source: Starwood Hotels & Resorts Worldwide)(SAIGON, VIETNAM) -- Le Méridien Hotels & Resorts continues its expansion momentum in Asia-Pacific, announcing the signing of its first hotel in Vietnam : Le Méridien Saigon. Owned by Tien Phuoc & 990 Company... Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 08/28/09 11:30 AM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 16-22 August 2009, according to data from STR. Read More
Low Mortgage Rates Helping to Stabilize Housing Market

Posted by Michael Gerrity 08/28/09 9:30 AM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.14 percent with an average 0.7 point ... Read More
Wells Fargo/Wachovia Bank Tops U.S. Commercial/Multifamily Servicers in MBA Mid-Year Rankings Report

Posted by Michael Gerrity 08/27/09 1:40 PM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily mortgage servicers as of June 30, 2009. On top of the list of firms is Wells Fargo/Wachovia Bank with $476.2 billion Read More
New Home Sales Jump 9.6% in July, Says U.S. Census Bureau

Posted by Michael Gerrity 08/26/09 3:25 PM

(WASHINGTON, D.C.) -- Sales of new one-family houses in July 2009 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. Read More
STR Reports Global Hotel Performance Numbers for July 2009

Posted by Michael Gerrity 08/26/09 3:15 PM

(LONDON and HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for July 2009, according to data compiled by STR and STR Global. Read More
Mortgage Applications Increase in Latest MBA Weekly Survey

Posted by Michael Gerrity 08/26/09 8:10 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 21, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 7.5 percent Read More
STR Reports U.S. Hotel Performance for July 2009

Posted by Michael Gerrity 08/25/09 12:40 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during July, according to data from STR. In year-over-year measurements, the industry's occupancy fell 7.3 percent to end the month at 64.1 percent. Read More
Home Prices Show Upswing in Q2 According to S&P/Case-Shiller

Posted by Michael Gerrity 08/25/09 12:30 PM

(NEW YORK, NY) -- Data through June 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index improved in the second quarter of 2009. Read More
California Reports 12 Percent Increase in July Home Sales, Median Home Price Declined 19.6 Percent

Posted by Michael Gerrity 08/25/09 12:00 PM

(LOS ANGELES, CA) -- Home sales increased 12 percent in July in California compared with the same period a year ago, while the median price of an existing home declined 19.6 percent, ... Read More
Florida's Existing Home, Condo Sales Up in July 2009

Posted by Michael Gerrity 08/24/09 8:00 AM

(ORLANDO, FL) -- Florida's existing home sales rose in July - the 11th month in a row that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR). Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 08/21/09 12:45 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 9-15 August 2009, according to data from STR. Read More
New York Housing Market Posts a 12 Percent Gain in July

Posted by Michael Gerrity 08/21/09 11:15 AM

(ALBANY, NY) -- The New York State housing market posted its fifth consecutive monthly sales increase in July, according to preliminary existing single-family sales data accumulated by the New York State Association of Realtors. The statewide median sales price jumped nearly 10 percent compared to June. Read More
Mortgage Rates Down to Lowest Level in Three Months

Posted by Michael Gerrity 08/20/09 5:10 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.12 percent with an average 0.7 point for the week ending August 20 Read More
Mortgage Delinquencies in Florida Rise, Says New MBA Survey

Posted by Michael Gerrity 08/20/09 12:10 PM

(WASHINGTON, D.C.) -- The delinquency rate for mortgage loans on residential properties in Florida was 10.8 percent at the end of the second quarter of 2009, an increase of 13 basis points, according to the Mortgage Bankers Association. Read More
Housing Affordability Continues to Hover Near Highest Level in 18 Years

Posted by Michael Gerrity 08/19/09 2:30 PM

(WASHINGTON, D.C.) -- Bolstered by affordable interest rates and low prices, nationwide housing affordability during the second quarter of 2009 continued to hover near its highest level since the series began 18 years ago, Read More
Mortgage Applications Increase in Latest MBA Weekly Survey

Posted by Michael Gerrity 08/19/09 10:30 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 14, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 5.6 percent Read More
Adventures by Disney Announces 19 Global Destination Locations for 2010 Travel Itinerary

Posted by Michael Gerrity 08/18/09 2:30 PM

(BURBANK, CA) -- Whether floating down the Colorado River or climbing the Great Wall of China, families participating in Adventures by Disney vacations will connect with the world - and with each other Read More
NAHB Reports Single-Family Housing Starts & Permits Rise in July

Posted by Michael Gerrity 08/18/09 2:15 PM

(WASHINGTON, D.C.) -- Production and permitting of new single-family homes continued on an upward trajectory in July, according to newly reported numbers from the U.S. Commerce Department today. Read More
Florida's Has 20.1 Million Visitors in Q-2, Says State's Tourism Board

Posted by Michael Gerrity 08/18/09 12:00 PM

(TALLAHASSEE, FL) -- VISIT FLORIDA, the official tourism marketing corporation for the State of Florida, estimated 20.1 million people visited the Sunshine State during the second quarter of 2009, Read More
NAHB Reports Apartment Market Stalls, While Condo Market Shows Movement

Posted by Michael Gerrity 08/18/09 10:47 AM

(WASHINGTON, DC) -- While some sectors of the housing industry are showing signs of rebounding, the apartment sector is on a slower trajectory for recovery according to data released today by the National Association of Home Builders (NAHB), in its Multifamily Market Index. Read More
Westin Hotel's Sleep Study Reports Asian Travelers Prefer a Great Night's Sleep to Great Sex

Posted by Michael Gerrity 08/18/09 9:55 AM

(SINGAPORE) -- A great night's sleep trumps great sex according to more than half of the Asian respondents (52%) to a new global survey of sleeping habits conducted by Westin Hotels & Resorts. Just how desperate are we for sleep? Read More
Government Reports July 2009 Residential Home Construction Numbers

Posted by Michael Gerrity 08/18/09 9:35 AM

(WASHINGTON, DC) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2009: Read More
Builder Confidence Continues Upward in August

Posted by Michael Gerrity 08/17/09 1:55 PM

(WASHINGTON, DC) -- Builder confidence in the market for newly built, single-family homes rose one point in August to its highest level in more than a year, according to the latest reading of the National Association of Home Builders/Wells Fargo Housing Market Index Read More
Supply Growth to Stifle Hotel RevPAR in 2010, Says STR

Posted by Michael Gerrity 08/17/09 10:55 AM

(HENDERSONVILLE, TN) -- RevPAR declines are expected to continue into the convention season according to STR's revised monthly forecast. The company also revised its forecasts for year-end 2009 and 2010. Read More
Lodging Economics Reports on Latin America Q2, 2009 Construction Pipeline

Posted by Michael Gerrity 08/17/09 8:00 AM

(PORTSMOUTH, NH) -- Lodging Econometrics (LE) has compiled and released its first 2011 Forecast for New Hotel Openings in Latin America, projected to be 132 hotels/23,693 rooms. Adjusted for the global recession, Read More
C.A.R. Reports California Entry-Level Home Affordability Index Reaches 67% in Q2

Posted by Michael Gerrity 08/14/09 3:05 PM

(LOS ANGELES, CA) -- The percentage of households that could afford to buy an entry-level home in California stood at 67 percent in the second quarter of 2009, compared with 49 percent (revised) for the same period a year ago, Read More
STR Reports on U.S. Hotel Performance

Posted by Michael Gerrity 08/14/09 1:50 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the second week of August 2009, according to data from STR. Read More
Slight Improvement in Labor Market Encouraged Long-Term Mortgage Rates to Inch Up

Posted by Michael Gerrity 08/14/09 11:05 AM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) just released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.29 percent with an average 0.7 point for the week ending August 13, 2009, Read More
Florida's Existing Home, Condo Sales Rise in Q2

Posted by Michael Gerrity 08/12/09 2:35 PM

(ORLANDO, FL) -- Sales of existing single-family homes in Florida rose 23 percent in second quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors (FAR). Read More
Credit Crunch Hits NAHB Show Home

Posted by Michael Gerrity 08/12/09 1:45 PM

(WASHINGTON, DC) -- The New American Home 2010, a model of innovation in energy and resource efficiency, has now become a high profile model of restrictive lending practices by a banking industry that is choking off the supply of credit for residential construction. Read More
STR Reports U.S. Hotel Pipeline for July 2009

Posted by Michael Gerrity 08/12/09 12:46 PM

(HENDERSONVILLE, TN) -- The total active U.S. hotel development pipeline includes 4,554 projects with 487,831 rooms, according to the July 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More
Mortgage Applications Decrease as Rate Jump Suppresses Refinance Activity, Says MBA

Posted by Michael Gerrity 08/12/09 9:23 AM

(WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 7, 2009. The Market Composite Index, a measure of mortgage loan application volume decreased 3.5 percent on a seasonally adjusted basis from one week earlier. Read More
Orlando's July Completed Home Sales and Contract Filings Nearly Double Over Last Year

Posted by Michael Gerrity 08/11/09 10:30 AM

(ORLANDO, FL) -- Members of the Orlando Regional Realtor Association in July sold 45.45 percent more homes than in July of last year, contributing to the area's year-to-date sales increase of 45.11 percent. Read More
Builders Call on Congress to Extend and Enhance Home Buyer Tax Credit

Posted by Michael Gerrity 08/10/09 12:41 PM

(WASHINGTON, D.C.) -- To help create jobs and set the stage for a strong recovery, the National Association of Home Builders (NAHB) today called on Congress to extend and enhance the $8,000 first-time home buyer tax credit due to expire on December 1. Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 08/07/09 10:36 AM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 26 July-1 August 2009, according to data from STR. Read More
Las Vegas' CityCenter to be one of World's Largest Green Developments

Posted by Michael Gerrity 08/07/09 9:00 AM

(LAS VEGAS, NV) -- Created with a vision to bring a new level of environmental consciousness to the world-famous Strip, CityCenter will be one of the world's largest sustainable developments, .... Read More

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Better Than Expected Economic Reports Help Keep Mortgage Rates Low This Week

Posted by Michael Gerrity 08/06/09 3:00 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.22 percent with an average 0.6 point for the week ending August 6, 2009, Read More
Remodeling Market Activity Builds Momentum

Posted by Michael Gerrity 08/06/09 12:30 PM

(WASHINGTON, D.C.) -- Residential remodeling showed modest gains during the second quarter of 2009 with increases in all indicators, according to the latest National Association of Home Builders (NAHB) Remodeling Market Index (RMI). Read More
MBA Reports Q2 Commercial & Multifamily Mortgage Originations Up from Q1, But Down from Last Year

Posted by Michael Gerrity 08/06/09 11:30 AM

(WASHINGTON, D.C.) -- Second quarter 2009 commercial and multifamily mortgage loan originations were 50 percent higher than during the first quarter of 2009, a quarter with very little activity, but remained 54 percent lower than during the same period last year, Read More
Lodging Economics Releases Q2 Canadian Hotel Construction Report

Posted by Michael Gerrity 08/05/09 3:45 PM

(PORTSMOUTH, NH) -- For the first time, Lodging Econometrics (LE) has compiled and announced its Forecast for New Hotel Openings for 2011 for Canada. New Hotel Openings are projected to be at a five-year low of 36 hotels/4,380 rooms. Read More
The Enclave at Cypress Grove Opens on Monterey Peninsula

Posted by Michael Gerrity 08/05/09 3:00 PM

(SEASIDE, CA) -- Cypress Grove Realty announces the opening of The Enclave at Cypress Grove, the first phase of a 400-acre planned, residential golf resort community on the Monterey Peninsula's Bayonet and Black Horse Golf Courses. Read More
Mortgage Applications Increase in Latest MBA Weekly Survey

Posted by Michael Gerrity 08/05/09 12:15 PM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 31, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 4.4 percent Read More
Massey Knakal Releases Mid-year 2009 Brooklyn Building Sales Report

Posted by Michael Gerrity 08/05/09 11:20 AM

(BROOKLYN, NY) -- During the first half of 2009 (1H09), the Brooklyn building sales market had 207 closed transactions consisting of 239 properties. The number of transactions was down 65.3% from 1H08, and 76.6% from 1H07, the most active half year. Read More
CityCenter Las Vegas Drives Energy Sustainablity Efforts with World's First Compressed Natural Gas Powered Limo Fleet

Posted by Michael Gerrity 08/04/09 3:00 PM

(LAS VEGAS, NV) -- Keeping with its commitment to sustainability, CityCenter has commissioned the first stretch-limo fleet powered by compressed natural gas (CNG). Read More
California Association of Realtors Approves 384 Applications for New Mortgage Protection Program

Posted by Michael Gerrity 08/04/09 1:43 PM

(LOS ANGELES, CA) -- More than 380 first-time home buyers have been approved for the California Association of Realtors Housing Affordability Fund (C.A.R.H.A.F.) Mortgage Protection Program (MPP). Read More
Sheraton Opens First 5-Star Hotel in Korea's Songdo City

Posted by Michael Gerrity 08/04/09 1:00 PM

(INCHEON, KOREA) -- The much anticipated Sheraton Incheon Hotel officially opens its doors this week. The opening of the hotel was graced by The Honorable Ahn Sang-soo, Mayor of Incheon, Chairman Park, ChanBub of KUMHO Asiana Group and Mr Lothar Pehl, Regional Vice-President, Starwood Hotels & Resorts for Japan/Korea/Guam region. Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 07/31/09 12:21 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 19-25 July 2009, according to data from STR. Read More
Refinances in Second Quarter Reduce Mortgage Payments by $3.4 Billion in Coming Year

Posted by Michael Gerrity 07/31/09 9:00 AM

(MCLEAN, VA) -- In the second quarter of 2009, half of borrowers who refinanced their loan lowered their annual mortgage interest rate by at least 20 percent according to Freddie Mac's quarterly Refinance Report. Read More
Massey Knakal Realty Services Releases Mid-Year Manhattan Building Sales Report

Posted by Michael Gerrity 07/31/09 8:00 AM

(NEW YORK, NY) -- During the first half of 2009 (1H09), the Manhattan building sales market (south of 96th St. east of Central Park and south of 110th St. west of Central Park) had 95 closed transactions consisting of 122 properties. Read More
Bond Yields Rise Slightly, Taking Mortgage Rates With Them

Posted by Michael Gerrity 07/30/09 3:30 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.25 percent with an average 0.7 point for the week ending July 30, 2009, Read More
MBA Reacts to FHA Loan Modification Program

Posted by Michael Gerrity 07/30/09 3:10 PM

(WASHINGTON, D.C.) -- David G. Kittle, CMB, Chairman of the Mortgage Bankers Association (MBA) issued the following reaction to the release of guidelines and details for the Federal Housing Administration's (FHA) loan modification program Read More
U.S. Luxury Hotel Market Facing Tough Enviroment, Says STR

Posted by Michael Gerrity 07/30/09 12:40 PM

(News Source: Smith Travel Research)(HENDERSONVILLE, TN) -- Continuing economic headwinds have not spared the luxury hotel spa industry. According to the latest figures of Spa STAR, the spa benchmarking program published by STR, performance metrics were either on par or... Read More
Holiday Inn Opens First Hotel in the Maldives in September

Posted by Michael Gerrity 07/30/09 11:29 AM

(MALE, MALDIVES) -- The Maldives will see the opening of the first international-class hotel for its capital city, Malé. The 117-room Holiday Inn Malé will open September 1, 2009. At 15-storys, Holiday Inn Malé is the city's newest and tallest hotel in the Maldives Read More
U.S. Hotels' Room Revenues Drop 18.7% in First Half of 2009, Says STR

Posted by Michael Gerrity 07/29/09 8:40 AM

(HENDERSONVILLE, TN) -- The U.S. hotel industry revenue per available room dropped 18.7 percent to US$53.87 percent for the first half of 2009 in year-over-year measurements, according to data from STR. Read More
Purchase Applications Hold Steady, Refinance Applications Fall in Latest MBA Weekly Survey

Posted by Michael Gerrity 07/29/09 8:30 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 24, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 495.4, Read More
STR Global Reports Worldwide Hotel Performance Numbers for June 2009

Posted by Michael Gerrity 07/28/09 12:20 PM

(LONDON & HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for June 2009, according to data compiled by STR and STR Global. Read More
Abu Dhabi's Aldar Properties Delivers Encouraging Y-T-D Financial Results

Posted by Michael Gerrity 07/28/09 10:11 AM

(ABU DHABI, U.A.E.) -- Aldar Properties PJSC, Abu Dhabi's leading property development investment and management company, today announced its financial results for the first half of 2009, reporting AED 1,142.5 million as net profits. Read More
Home Price Declines Continue to Abate According to Case-Shiller Home Price Indices

Posted by Michael Gerrity 07/28/09 9:40 AM

(NEW YORK, NY) -- Data through May 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, show that, the annual rate of decline of the 10-City and 20-City Composites improved Read More
Westin Resorts Expands into Thailand

Posted by Michael Gerrity 07/28/09 9:00 AM

(SINGAPORE) -- Westin Hotels & Resorts continues its expansion momentum in Asia-Pacific, announcing that Westin will introduce its first resort in Thailand in early 2010. Owned by Phuket Garden Cliff Co Ltd, The Westin Siray Bay Resort, Phuket will be the newest international 5-star property to open in Phuket ... Read More
California Home Sales Increased 20.1% in June, Median Home Price Declined 26.4%

Posted by Michael Gerrity 07/27/09 2:53 PM

(LOS ANGELES, CA) -- Home sales increased 20.1 percent in June in California compared with the same period a year ago, while the median price of an existing home declined 26.4 percent, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) reported today. Read More
W Hotels Unveils W South Beach

Posted by Michael Gerrity 07/27/09 12:58 PM

(MIAMI BEACH, FL) -- W Hotels Worldwide, the hotel category buster and industry innovator, today unveils its latest insider escape with the grand opening of W South Beach and The Residences at W South Beach, the W brand's 31st hotel property. Owned and developed by Tristar Capital and RFR Realty ... Read More
Emaar Properties Reports Strong Middle East Buyer Response to New Villa Sales in Al Khobar Lakes Project

Posted by Michael Gerrity 07/27/09 12:33 PM

(JEDDAH, SAUDI ARABIA) -- Following the successful launches of the first two residential villages - Al Nada and Al Ghadeer - in Al Khobar Lakes, Emaar Middle East recently launched the sale of a limited collection of new villas of sizes ranging from 275 - 501 sq m, which are offered at prices starting from SR 1.228 million. Read More
New Home Construction Numbers Jump in June

Posted by Michael Gerrity 07/27/09 10:11 AM

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2009. Privately-owned housing units authorized by building permits in June were ... Read More
Interstate Hotels & Resorts Opens and Manages TownePlace Suites Bethlehem-Easton

Posted by Michael Gerrity 07/24/09 5:00 PM

(ARLINGTON, VA) -- Interstate Hotels & Resorts (OTC Bulletin Board: IHRI), a leading hotel real estate investor and the nation's largest independent hotel management company, today announced the opening of the 86-suite TownePlace Suites Bethlehem/Easton in Pennsylvania's Lehigh Valley, an hour north of Philadelphia. Read More
Florida's Construction Industry is on Life Support, Says JBREC

Posted by Michael Gerrity 07/24/09 4:47 PM

(ORLANDO, FL) -- According to John Burns Real Estate Consultants, Florida's construction market has virtually shut down. Read More
STR Reports U.S. Hotel Performance for June

Posted by Michael Gerrity 07/24/09 1:25 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during June, according to data from STR. Read More
Disney's Bay Lake Tower Set to Open August 4th

Posted by Michael Gerrity 07/24/09 8:00 AM

(LAKE BUENA VISTA, FL) -- Nearly 38 years after Disney's Contemporary Resort opened its doors, its modern Disney Vacation Club addition, Bay Lake Tower at Disney's Contemporary Resort, is scheduled to welcome guests on Aug. 4. Read More
New York Reports June Home Sales Up 30%

Posted by Michael Gerrity 07/23/09 4:25 PM

(ALBANY, NY) -- The New York State housing market continued to show positive sales growth as the second quarter came to a close, fueled by a 30-percent increase in statewide sales between May and June, Read More
Florida's Existing Home, Condo Sales Up in June 2009

Posted by Michael Gerrity 07/23/09 1:12 PM

(ORLANDO, FL) - Florida's existing home sales rose in June - the 10th consecutive month that sales activity showed gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors ... Read More
Appraisal & ADC Problems Hampering Housing Recovery, Builders Tell Congress

Posted by Michael Gerrity 07/23/09 12:08 PM

(WASHINGTON, D.C.) -- The National Association of Home Builders (NAHB) told Congress today that inappropriate appraisal practices and the acquisition, development and construction (AD&C) lending crisis that has choked off credit for home builders threaten to prolong the current housing and economic downturn. Read More
Mortgage Rates Rise This Week

Posted by Michael Gerrity 07/23/09 11:48 AM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.20 percent with an average 0.7 point for the week ending July 23, 2009, Read More
U.S. Monthly House Price Index Estimates 0.9 Percent Price Increase from April to May

Posted by Michael Gerrity 07/22/09 10:39 AM

(WASHINGTON, D.C.) -- U.S. home prices rose 0.9 percent on a seasonally-adjusted basis from April to May, according to the Federal Housing Finance Agency's monthly House Price Index. Read More
Mortgage Applications Increase in Latest MBA Weekly Survey

Posted by Michael Gerrity 07/22/09 8:20 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 17, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 528.9, Read More
Dubai Leads Way in Middle East / Africa Hotel Construction

Posted by Michael Gerrity 07/20/09 4:05 PM

(LONDON, UK) -- The Middle East/Africa hotel development pipeline includes 463 hotels with 124,409 rooms, according to the June 2009 STR Global Construction Pipeline Report released last week. Read More
Europe Hotel Construction Pipeline Report for June 2009 Released

Posted by Michael Gerrity 07/20/09 2:45 PM

(LONDON, UK) -- The Europe hotel development pipeline includes 596 hotels with 94,695 rooms, according to the June 2009 STR Global Construction Pipeline Report released last week. Read More
STR Global Reports Central and South America Hotel Development for June 2009

Posted by Michael Gerrity 07/20/09 1:29 PM

(LONDON, UK) -- The Central/South America hotel development pipeline includes 147 projects with 21,539 rooms, according to the June 2009 STR Global Construction Pipeline Report released last week. Read More
STR Releases Caribbean/Mexico Hotel Construction Pipeline Report

Posted by Michael Gerrity 07/20/09 11:50 AM

(HENDERSONVILLE, TN) -- The Caribbean/Mexico hotel development pipeline includes 134 hotels with 17,663 rooms, according to the June 2009 STR Construction Pipeline Report released last week. Read More
STR Reports Asia/Pacific Hotel Pipeline for June 2009

Posted by Michael Gerrity 07/20/09 10:36 AM

(LONDON, UK) -- The Asia/Pacific hotel development pipeline includes 969 hotels with 227,567 rooms, according to the June 2009 STR Global Construction Pipeline Report released last week. Read More
U.S. Hotel Construction Pipeline Decreases in June

Posted by Michael Gerrity 07/17/09 12:19 PM

(HENDERSONVILLE, TN) -- The total active U.S. hotel development pipeline includes 4,690 projects with 501,476 rooms, according to the June 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More
STR Reports Canadian Hotel Pipeline for Second Quarter 2009

Posted by Michael Gerrity 07/17/09 11:03 AM

(HENDERSONVILLE, TN) -- At the end of the second quarter of the calendar year, the Canadian hotel development pipeline includes 223 projects comprising 26,172 rooms, according to the June 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More
Apartments and Condos Bring Jobs, Economic Benefits to Cities

Posted by Michael Gerrity 07/17/09 10:52 AM

(WASHINGTON, D.C.) -- A new report from the National Association of Home Builders (NAHB) will enable city and county leaders to paint a clearer picture of the positive impact of building new multifamily communities. Read More
The Landings, a Luxury Caribbean Residential Yacht Community, is Becoming St. Lucia's Helen

Posted by Michael Gerrity 07/17/09 8:00 AM

(RODNEY BAY, ST. LUCIA) -- The Landings, a $250 million luxury 5-star residential condo-hotel development nestled on the northwest coast of St. Lucia, is flourishing ... Read More
Builder Confidence Rises Two Points in July

Posted by Michael Gerrity 07/16/09 1:30 PM

(WASHINGTON, D.C.) -- Builder confidence in the market for newly built, single-family homes notched up two points in July to its highest level since September 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), Read More
Mortgage Rates Fall For Third Consecutive Week

Posted by Michael Gerrity 07/16/09 1:14 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.14 percent with an average 0.7 point for the week ending July 16, 2009, Read More
Mortgage Applications Increase in Latest MBA Weekly Survey

Posted by Michael Gerrity 07/15/09 10:21 AM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 10, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 514.4, an increase of 4.3 percent on a seasonally adjusted basis ... Read More
London's Airport Hotels Suffer with Traffic Falls

Posted by Michael Gerrity 07/14/09 9:12 AM

(LONDON, UK) -- As both passenger numbers and flights fall, what is the effect on airport hotels? Data from STR Global, the leading provider of market information to the world's hotel industry, shows interesting differences ... Read More
Mandarin Oriental Las Vegas Set to Debut in December

Posted by Michael Gerrity 07/13/09 1:25 PM

(LAS VEGAS, NV) -- Opening in early December 2009, Mandarin Oriental Las Vegas will be a sophisticated sanctuary of modern elegance in the heart of the Las Vegas Strip. Ideally located at the entrance of CityCenter, the extraordinary urban resort destination, Read More
Orlando Housing Market Nears a Balance Between Buyers and Sellers

Posted by Michael Gerrity 07/10/09 3:46 PM

(ORLANDO, FL) -- A steady increase in the pace of Orlando home sales activity is creating conditions that are within striking distance of a balanced market. Inventory level reflects an 8.37-month supply at the current pace of sales, ... Read More
STR Reports U.S. Hotel Performance

Posted by Michael Gerrity 07/10/09 3:34 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 28 June-4 July 2009, according to data from STR. In year-over-year measurements, the industry's occupancy fell 6.0 percent ... Read More
Mortgage Rates Down This Week Amid Concerns Over Labor Market

Posted by Michael Gerrity 07/10/09 8:00 AM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.20 percent with an average 0.7 point for the week ending July 9, 2009, Read More
STR Releases Updated U.S. Travel Forecasts for 2009 and 2010

Posted by Michael Gerrity 07/09/09 8:00 AM

(HENDERSONVILLE, TN) -- As part of its new monthly forecast program, STR is projecting a 17.1-percent decrease in revenue per available room for the U.S. hotel industry in 2009. The company also revised its forecasts ... Read More
Florida Association of Realtors Announces Face of Foreclosure Project and Website

Posted by Michael Gerrity 07/08/09 3:44 PM

(ORLANDO, FL) -- Across Florida, people are struggling to deal with some of the aftershocks caused by the current economy, including the alarming rise in foreclosed homes now devastating families and communities. Read More
Europe's Top Five are all German

Posted by Michael Gerrity 07/08/09 3:02 PM

(LONDON, UK) -- Being the least worst is never a high accolade, but in the face of a very tough market the performance of Germany's main cities is commendable. The May 2009 edition of the European Hotel Review, Read More
Sheraton Incheon Hotel Will Soon be Unveiled in Korea's Newest Major Development, Incheon - Songdo City

Posted by Michael Gerrity 07/08/09 2:49 PM

(INCHEON, KOREA) -- On August 1st the Sheraton Incheon Hotel will be unveiled in Songdo, one of the three ambitiously planned new international business districts in Incheon Free Economic Zone. Read More
Mortgage Applications Increase in Latest MBA Weekly Survey

Posted by Michael Gerrity 07/08/09 2:19 PM

(WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 3, 2009, which was a shortened week due to the Independence Day holiday. Read More
Increased affordability, Low Mortgage Rates Motivating California Home Buyers, Says C.A.R. Survey

Posted by Michael Gerrity 07/07/09 3:54 PM

(LOS ANGELES, CA) -- Favorable home prices, record-low interest rates, and the belief that rates will rise in the near future were the primary motivators leading home buyers to purchase in 2009 compared with last year, ... Read More
Kuching Malaysia Celebrates Opening of New Four Points Sheraton Resort

Posted by Michael Gerrity 07/07/09 12:11 PM

(KUCHING, MALAYSIA) -- Four Points by Sheraton Kuching was officially declared open recently during a Grand Opening ceremony presided over by Malaysia's Prime Minister, Dato' Seri Mohd Najib Tun Razak. Read More
MGM CityCenter Reveals Unparalleled Collection of Luxury Retailers and Restaurants

Posted by Michael Gerrity 07/06/09 2:00 PM

(LAS VEGAS, NV) -- MGM CityCenter, the spectacular multi-use development opening later this year on the Las Vegas Strip, announced today an unparalleled collection of unique luxury retailers and restaurateurs that will join the already outstanding lineup at Crystals. Read More
Rising Fuel Prices and Economic Uncertainty to Dampen July 4th Holiday Travel, Says AAA

Posted by Michael Gerrity 07/03/09 8:00 AM

(ORLANDO, FL) -- AAA projects the number of Americans traveling on vacation this Fourth of July holiday weekend will decrease 1.9 percent from 2008 with approximately 37.1 million ... Read More
Fannie Mae Implementing New Loan-to-Value Ceiling for Home Affordable Refinance Program

Posted by Michael Gerrity 07/02/09 2:17 PM

(WASHINGTON, D.C.) -- Fannie Mae (FNM/NYSE) announced today that the company is providing information to servicers regarding changes to the Home Affordable Refinance Program (HARP) that permits refinancing of existing Fannie Mae loans with loan-to-value (LTV) ratios up to 125 percent. Read More
Lower Long-Term Rates a Help to Housing Market

Posted by Michael Gerrity 07/02/09 1:09 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.32 percent with an average 0.7 point for the week ending July 2, 2009, Read More
FHFA Authorizes Fannie Mae and Freddie Mac to Expand Home Affordable Refinance Program to 125 Percent Loan-to-Value

Posted by Michael Gerrity 07/01/09 5:14 PM

(WASHINGTON, D.C.) -- The Federal Housing Finance Agency has authorized Fannie Mae and Freddie Mac to expand the Home Affordable Refinance Program (HARP) to homeowners who are current on their mortgage payments from the present loan-to-value ratio ceiling of 105 to 125 percent. Read More
Freddie Mac Relief Refinance Mortgage Now Available With Up to 125 Percent Loan-to-Value Ratios

Posted by Michael Gerrity 07/01/09 3:08 PM

(MCLEAN, VA) -- To help borrowers who have seen significant home price declines refinance their existing loans, the Obama Administration today announced the availability of loan-to-value (LTV) ratios up to 125 percent for Home Affordable Refinance mortgages, Read More
Mortgage Applications Decrease in Latest MBA Weekly Survey

Posted by Michael Gerrity 07/01/09 1:26 PM

(WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 26, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 444.8, Read More
Germany Hotel Forecasts Make Tough Reading

Posted by Michael Gerrity 07/01/09 1:09 PM

(LONDON, UK) -- Forecasts from the May 2009 Hotel Market Forecast report from STR Global indicate that average daily rate declines during the next 24 months across Germany's major cities will be the main cause of the industry's sluggish performance. Read More
May 2009 Construction at $964 Billion Annual Rate

Posted by Michael Gerrity 07/01/09 1:06 PM

(WASHINGTON, D.C.) -- The U.S. Census Bureau of the Department of Commerce announced today that construction spending during May 2009 was estimated at a seasonally adjusted annual rate of $964.0 billion, 0.9 percent (±1.1%)* below the revised April estimate of $972.5 billion. Read More
Crowne Plaza Hotel Moves into Portugal

Posted by Michael Gerrity 07/01/09 10:28 AM

(ALGARVE, PORTUGAL) -- The Crowne Plaza Vilamoura, set to open in January 2010, will be the first Crowne Plaza hotel in Portugal. The historic deal is the first franchise agreement between IHG (InterContinental Hotels Group) and the Grupo Marope, Read More
CBRE Releases Global Retail Report, New York City Still Most Expensive Market

Posted by Michael Gerrity 06/30/09 2:39 PM

(LOS ANGELES, CA) -- Despite prime retail rents that have fallen in almost every region worldwide as the global recession impacts consumer sentiment and retail sales, New York City remains the world's most expensive retail destination, ... Read More
Pace of Home Price Declines Moderate in April According to S&P/Case-Shiller Home Price

Posted by Michael Gerrity 06/30/09 9:34 AM

(NEW YORK, NY) -- Data through April 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, ... Read More
Willco Companies to Launch $100 Million Real Estate Investment Fund

Posted by Michael Gerrity 06/29/09 2:47 PM

(POTOMAC, MD) -- Willco Companies, a locally owned and managed commercial property development and investment firm founded in the early 1960's with a five million square foot commercial real estate portfolio, will soon close the $100 million Willco Fund I LP. Read More
STR Reports Worldwide Hotel Performance Results For May 2009

Posted by Michael Gerrity 06/29/09 8:00 AM

(LONDON, UK & HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for May 2009, ... Read More
California Home Sales Increased 35.2 Percent; Median Home Prices Declined 30.4 Percent, Says C.A.R.

Posted by Michael Gerrity 06/26/09 8:00 AM

(LOS ANGELES, CA) -- Home sales increased 35.2 percent in May in California compared with the same period a year ago, while the median price of an existing home declined 30.4 percent, ... Read More
Emaar and Indonesian Government Extend JV to Develop The Lombok Project by Six Months

Posted by Michael Gerrity 06/25/09 5:02 PM

(News Source: Emaar Properties)(DUBAI, U.A.E.) -- The Indonesian Government has extended the joint venture between Emaar Indonesia and PT Pengembangan Pariwisata Bali (Persero), a government entity, to develop The Lombok Project by six months. This followed a meeting between the... Read More
Mortgage Rates Mostly Flat Amid Mixed Economic News

Posted by Michael Gerrity 06/25/09 1:46 PM

(MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.42 percent with an average 0.7 point for the week ending June 25, 2009, Read More
Federal Housing Finance Agency Reports Increase in Mortgage Rates

Posted by Michael Gerrity 06/25/09 11:26 AM

(WASHINGTON, DC) -- The Federal Housing Finance Agency today reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less increased 1 basis point to 4.88 percent in May. The average interest rate on 15-year, ... Read More
NAHB Reports New-Home Sales Virtually Flat in May

Posted by Michael Gerrity 06/24/09 3:47 PM

(WASHINGTON, DC) - Sales of newly built, single-family homes in May held virtually even with the previous month, declining less than one percentage point to a seasonally adjusted annual rate of 342,000 units, according to data released by the U.S. Commerce Department today. Read More
Single-Family Housing Starts Jump 7.5% in May

Posted by Michael Gerrity 06/24/09 1:53 PM

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 2009: Read More
STR Reports U.S. Hotel Performance for May 2009

Posted by Michael Gerrity 06/24/09 1:44 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during May, according to data from STR. In year-over-year measurements, the industry's occupancy fell 11.8 percent to end the month at 55.7 percent. Read More
New Home Sales Dip in May

Posted by Michael Gerrity 06/24/09 10:42 AM

(WASHINGTON, DC) -- Sales of new one-family houses in May 2009 were at a seasonally adjusted annual rate of 342,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. Read More
Mortgage Applications Increase in Latest MBA Weekly Survey

Posted by Michael Gerrity 06/24/09 9:33 AM

(WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 19, 2009. The Market Composite Index, ... Read More
Hotel Industry Posts Record Room Revenue in 2008, Other Indicators Slide

Posted by Michael Gerrity 06/23/09 3:26 PM

(HENDERSONVILLE, TN) -- The U.S. hotel industry average daily rate reached a record high, ending 2008 at US$106.55, but Pre-Tax Income Profits for the year were down 7.9 percent to US$25.8 billion, according to STR's Hotel Operating Statistics (HOST) Study. Read More
New Disney Vacation Club Treehouse Villas Blend Modern Luxury with Nostalgic Appeal Amid Forested Glens

Posted by Michael Gerrity 06/23/09 3:07 PM

(LAKE BUENA VISTA, FL) -- The latest Disney Vacation Club (DVC) property, Treehouse Villas at Disney's Saratoga Springs Resort & Spa, has opened its doors. Read More
Florida's Existing Home, Condo Sales Up in May 2009

Posted by Michael Gerrity 06/23/09 2:48 PM

(ORLANDO, FL) -- Florida's existing home sales rose in May - the ninth month in a row that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR). Read More
New York State Housing Market Posts Monthly Sales Gains for Third Consecutive Month

Posted by Michael Gerrity 06/23/09 11:27 AM

(ALBANY, NEW YORK) -- The New York State housing market posted sales gains for the third consecutive month with an 11-percent increase in closed sales of existing single-family homes in May compared to April, Read More
U.S. Monthly House Price Index Estimates 0.1 Percent Price Decline From March to April

Posted by Michael Gerrity 06/23/09 11:07 AM

(WASHINGTON, D.C.) -- U.S. home prices fell 0.1 percent on a seasonally-adjusted basis from March to April, according to the Federal Housing Finance Agency's monthly House Price Index. The previously reported 1.1 percent decline in March was revised to a 1.4 percent decline. Read More
New Guidelines Needed for Appraising Distressed Properties

Posted by Michael Gerrity 06/23/09 9:06 AM

(WASHINGTON, DC) -- Using foreclosed and distressed sales as comparables with appraisals on single-family homes without adequately reflecting the differences in the condition of the respective properties is needlessly driving down home values, according to the National Association of Home Builders (NAHB). Read More
MBA Lowers 2009 Mortgage Originations Forecast To $2.03 Trillion

Posted by Michael Gerrity 06/22/09 4:37 PM

(WASHINGTON, DC) -- The Mortgage Bankers Association today lowered its forecast of mortgage originations in 2009 to $2.03 trillion, a drop of over $700 billion from its March forecast.