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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.

1450 Brickell Tower Becomes Miami's First LEED Gold Office Building

Posted by Michael Gerrity 09/02/10 11:14 AM

(MIAMI, FL) -- Just days after unveiling that 1450 Brickell now has 226,000 square feet of office space leased, the project's developer announced today that the 'class-A' building has been awarded LEED Gold certification by the U.S. Green Building Council. Read More
Pending Home Sales Show Slight Uptick in July, Says NAR

Posted by Michael Gerrity 09/02/10 10:00 AM

According to the National Association of Realtors (NAR) today, July pending home sales have risen modestly on the heels of a very sharp drop in home sales in the months immediately after expiration of the home buyer tax credit. Read More
Commercial Mortgage Delinquencies Mixed in Q-2, Says MBA

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

According to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report, delinquency rates were mixed in the second quarter for commercial/multifamily mortgage investor groups. The delinquency rate for loans held in commercial mortgage-backed securities (CMBS) is the highest since the series began in 1997. Read More
U.S. Annual Construction Rate Dips to $805.2 Billion in July

Posted by Michael Gerrity 09/01/10 2:25 PM

According to the U.S. Census Bureau of the Department of Commerce announced today that construction spending during July 2010 was estimated at a seasonally adjusted annual rate of $805.2 billion, 1.0 percent (±1.4%) below the revised June estimate of $813.1... Read More
Record Low Mortgage Rates Drive Increased Applications in August

Posted by Michael Gerrity 09/01/10 8:29 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending August 27, the Market Composite Index increased 2.7 percent ... Read More
South Florida Tops 250,000 Foreclosure Filings Since 2007 Peak

Posted by Michael Gerrity 08/31/10 12:19 PM

According to a new report from Condo Vultures, lenders have initiated more than 250,000 foreclosure actions - also known as Lis Pendens or notices of default - against properties in the tricounty South Florida region since 2007. Read More
U.S. Home Prices Jump 4.4% in Q2, Says Case-Schiller Index

Posted by Michael Gerrity 08/31/10 9:21 AM

According to Standard & Poor's latest S&P/Case-Shiller Home Price Indices for June 2010, the U.S. National Home Price Index rose 4.4% in the second quarter of 2010, after having fallen 2.8% in the first quarter. Nationally, home prices are 3.6% above their year-earlier levels. Read More
Home Values Rise in Q2, Says Freddie Mac

Posted by Michael Gerrity 08/30/10 3:06 PM

Freddie Mac (OTC:FMCC) announced today the results of Conventional Mortgage Home Price Index (CMHPI) that showed that U.S. homes values had a slight increase in the second quarter of 2010. Amy Crews Cutts, Freddie Mac deputy chief economist said, "We saw increases in home values in the second quarter that were very strong across all regions Read More
Obama Administration Mulling Over Revival of $8,000 Home Buyer Tax Credit Program

Posted by Michael Gerrity 08/30/10 9:54 AM

Housing and Urban Development (HUD) Secretary Shaun Donovan said in an interview on CNN this past weekend that the Obama administration is closely watching the U.S. housing market, ... Read More
U.S. Hotels Continue Performance Gains in August

Posted by Michael Gerrity 08/30/10 8:45 AM

According to data from Smith Travel Research, (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week of 15-21 August 2010. In year-over-year measurements, the industry's occupancy increased 8.2 percent to 65.3 percent. Read More
Mortgage Rates Continue To Fall, Set New Record Lows

Posted by Michael Gerrity 08/26/10 1:29 PM

According to Freddie Mac's (OTC:FMCC) latest Primary Mortgage Market Survey (PMMS), fixed-rate mortgages reached record lows, while the 5-year adjustable rate remained tied at its low for this survey. The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the 5-year adjustable in 2005. Read More
MBA Reports Mortgage Loan Delinquencies, Foreclosure Starts Decrease in Q2

Posted by Michael Gerrity 08/26/10 11:02 AM

According to the Mortgage Bankers Association's (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties dropped to a seasonally adjusted rate of 9.85 percent of all loans outstanding as of the end of the second... Read More
CoreLogic Reports a Second Consecutive Quarterly Decline in Negative Home Equity Growth

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

According to CoreLogic's latest report, negative equity data showed a second consecutive quarterly decline in national negative equity rates. CoreLogic reports that 11 million, or 23 percent, of all residential properties with mortgages were in negative equity at the end of the second quarter of 2010, Read More
Many U.S. Commercial Real Estate Markets Hurting From Weak Job Growth, Says NAR

Posted by Michael Gerrity 08/26/10 10:00 AM

According to the National Association of Realtors (NAR), the U.S. commercial real estate sector, hurt by weak job growth, are now offering various incentives in many areas that are conducive to luring new tenants or expanding existing tenants. Read More
Europe Based Club La Costa Resorts & Hotels Purchases Encantada Resort in Kissimmee, Florida

Posted by Michael Gerrity 08/25/10 1:57 PM

Privately owned Club La Costa Resorts & Hotels has just purchased Encantada Resort in Kissimmee, Florida from Park Square Homes. Financial terms were not disclosed. Club La Costa founder and Chairman, Roy Peires, made the announcement of the company's first North American property. Read More
FHFA Reports U.S. Home Prices Slightly Increased in Q2, 2010

Posted by Michael Gerrity 08/25/10 1:39 PM

According to the Federal Housing Finance Agency's (FHFA) seasonally adjusted purchase-only house price index (HPI), U.S. house prices rose in the second quarter of 2010.The HPI, which is calculated by using home sales price information from Fannie Mae- and Freddie... Read More
South Florida Company Launches New Bulk Sales Platform

Posted by Michael Gerrity 08/25/10 1:35 PM

(FT. LAUDERDALE, FL) -- South Florida based Adache Real Estate has announced today that they have formed a new platform to handle the growing back-log of rejected bank short sale listings. Read More
Mortgage Refi's Spike 26% as Rates Drop

Posted by Michael Gerrity 08/25/10 1:33 PM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending August 20, the Market Composite Index increased 4.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index... Read More
Tree-top Zipline Ride is Newest Attraction of Panama's Red Frog Beach Resort

Posted by Michael Gerrity 08/25/10 1:16 PM

Panama's Red Frog Beach Resort recently announced the grand opening of its new zipline canopy tour called the "Bastimentos Sky" Canopy Tour. The ride feature's seven tree-top ziplines that has exhilarating runs with speeds up to 40 miles per hour. Read More
NAHB Not Happy with July's Record Breaking New Home Sales Decline

Posted by Michael Gerrity 08/25/10 12:28 PM

Against the backdrop of today's announcement from the U.S. Commerce Department reporting of a 12.4% decline of new home sales for July, Bob Jones, chairman of the National Association of Home Builders (NAHB), commented "Today's report, though not unexpected, is disappointing in view of the improvement in sales activity that we saw in June." Read More
New Home Sales Drop a Record Breaking 12.4% in July, Prices Drop as Well

Posted by Michael Gerrity 08/25/10 10:10 AM

According to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in July 2010 were at a seasonally adjusted annual rate of 276,000. Read More
Downtown Miami to Host 'Fractional Summit USA' Event in Early September

Posted by Michael Gerrity 08/24/10 1:54 PM

(MIAMI, FL) -- Fractional Life has announced that they will hold the Fractional Summit USA at the Intercontinental Hotel in downtown Miami September 1, 2010. Read More
Florida's Existing Home Sales Drop 14% in July, Condo Sales Rise 11%

Posted by Michael Gerrity 08/24/10 1:45 PM

(MIAMI, FL) -- According to the latest housing data released by the Florida Association of Realtors (FAR), sales of existing condominiums in Florida rose 11 percent in July, with a total of 5,557 condos sold statewide compared to 4,991 units sold in July 2009. Read More
St. Regis Plans Opening of Newest Luxury Residences in Bangkok

Posted by Michael Gerrity 08/24/10 1:35 PM

The Residences at The St. Regis Bangkok continues to stay on course in preparation for the scheduled October launch of this luxurious, urban dwelling in Thailand's modern metropolis. Commitment and financing from Minor International PLC, the project's developer, remain strong. Read More
Global Hotel Performance Indexes Post Mostly Positive Results in July

Posted by Michael Gerrity 08/24/10 1:11 PM

According to data compiled by Smith Travel Research (STR) and STR Global, the Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for July 2010. The region's occupancy rose 6.9 percent to 67.9 percent, Read More
California Home Sales Dip 21% in July, Prices Up 10%

Posted by Michael Gerrity 08/24/10 1:04 PM

According to the California Association of Realtors, California home sales decreased 20.8 percent in July compared with the same period a year ago, while the median price of an existing home rose 10.4 percent from July 2009. Read More
New York's Statewide Home Sales Fall 50% in Post Tax Credit Era

Posted by Michael Gerrity 08/24/10 10:26 AM

Statewide sales of existing single-family homes in New York State fell by 50 percent in July compared to the record-setting June total, which was bolstered by buyers who closed before the then-June 30 federal homebuyer tax credit deadline. The preliminary... Read More
Existing Home Sales Plummet in July, Drop 27% From June

Posted by Michael Gerrity 08/24/10 10:08 AM

According to the National Association of Realtors (NAR), existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain. Existing-home sales, which are completed transactions that include ... Read More
Wells Fargo Tops U.S. Commercial and Multifamily Loan Servicers in Mid-Year Rankings Report

Posted by Michael Gerrity 08/24/10 9:37 AM

The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily mortgage servicers as of the end of June 30, 2010. Read More
Banks Repo Over 100,000 South Florida Properties Since 2007

Posted by Michael Gerrity 08/23/10 2:31 PM

According to Bal Harbour, Florida-based Condo Vultures, more than 100,000 properties - or an average of 2,300 per month - have been repossessed in the tricounty South Florida region since the real estate crash began in 2007. Lenders surpassed the 100,000 threshold on Thursday, Aug.19, ... Read More
Florida Realtors Receive $16 Million Payment from BP Oil Spill Fund

Posted by Michael Gerrity 08/23/10 1:38 PM

(MIAMI, FL) -- The Florida Association of Realtors (FAR), alongside four other State Realtor associations, have successfully negotiated with Kenneth Feinberg, administrator of the new Gulf Coast Claims Facility handling the British Petroleum (BP) Oil Spill Fund, for a special allocation ... Read More
U.S. Housing Market Continues to See First-time Buyer Exodus in a Post Tax Credit Era

Posted by Michael Gerrity 08/23/10 10:22 AM

According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions, first-time homebuyers continued to desert the housing market in July 2010.First-time homebuyers accounted for only 39.1% of the home purchase market last month, down from... Read More
U.S. Hotel Market Continues to Enjoy Performance Gains in July

Posted by Michael Gerrity 08/23/10 10:15 AM

According to the latest report from Smith Travel Research (STR), the U.S. hotel industry posted increases in all three key performance measurements during July 2010.In year-over-year measurements, the industry's occupancy was up 7.0 percent to 67.9 percent. Average daily... Read More
California State Assembly Passes S.B. 1178 to Protect Homeowners

Posted by Michael Gerrity 08/20/10 12:36 PM

The California State Assembly this week approved SB 1178 (D-Corbett) by a 49 to 14 vote, extending anti-deficiency protection for consumers who have refinanced their original mortgage loans and now are facing foreclosure. Read More
Summer Doldrums Hit Virginia's Loudoun County Housing Market

Posted by Michael Gerrity 08/20/10 12:32 PM

Perhaps it was the unprecedented heat wave that stifled home purchases in Loudoun County, Virginia during July. In any case, total existing home sales (384 units) declined 30 percent compared to revised figures from last month and 27 percent compared to last July. Read More
STR Releases Global Hotel Construction Pipeline Report for July 2010

Posted by Michael Gerrity 08/20/10 8:30 AM

According to the July 2010 STR Global Construction Pipeline Report released this week, the Asia/Pacific hotel development pipeline comprises 1,029 hotels totaling 256,060 rooms. China reported the largest number of rooms in the total active pipeline (139,193 rooms) Read More
BP Oil Spill Now Impacting Real Estate Markets Beyond Gulf Coast Cities

Posted by Michael Gerrity 08/20/10 8:00 AM

According to a new report released today by Clear Capital, 1-in-4 real estate professionals polled reported that the BP oil spill has had a negative effect on their local real estate markets, even in markets with no physical damage. Read More
Fixed-rate Mortgages Continue to Inch Downward, Set New Record Lows

Posted by Michael Gerrity 08/19/10 1:58 PM

According to Freddie Mac's (OTC: FMCC) latest Primary Mortgage Market Survey (PMMS), the fixed-rate mortgages reached another low, while the 5-year adjustable rate remained tied at its low for this survey. The 30-year fixed-rate survey began in 1971, Read More
Home 'Affordability Index' Remains High, Says NAHB

Posted by Michael Gerrity 08/19/10 1:44 PM

According to the National Association of Home Builders / Wells Fargo Housing Opportunity Index (HOI) released today, bolstered by favorable interest rates and low house prices, housing affordability remained near its highest level nationwide for the sixth consecutive month ... Read More
Consumer Confidence Drops in the U.S. Housing Market, One in Three Homeowners Now Think Worst is Yet to Come

Posted by Michael Gerrity 08/19/10 12:00 AM

According to Zillow's new Q-2, 2010 Homeowner Confidence Survey, homeowners are more pessimistic about the short-term future of home values ... Read More
Las Vegas' CityCenter Expands Highend Retail Tenant Base

Posted by Michael Gerrity 08/18/10 1:04 PM

By year's end, Crystals retail & entertainment district will add 12 new brands to its exceptional collection of retailers and dining concepts, including flagship stores for Prada and GUCCI; as well as boutiques for Yves Saint Laurent, Balenciaga, Stella McCartney, ... Read More
Tampa Housing Market Slowly Improving in Q2, Says Metrostudy Report

Posted by Michael Gerrity 08/18/10 11:55 AM

According to a recent report by Metrostudy, Tampa's residential market showed improving numbers relative to housing starts, closings, and home resales during Q2, 2010.Metrostudy recorded 1,116 housing starts, across all price ranges during the second quarter, an improvement of 22.9%.... Read More
Mortgage Refinance Activity Increases to Highest Level Since May 2009

Posted by Michael Gerrity 08/18/10 10:55 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending August 13, the Market Composite Index increased 13.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index... Read More
World's Millionaire Population Growing Fastest in Singapore, Malaysia and China

Posted by Michael Gerrity 08/18/10 8:00 AM

There is an old saying that says, "wealth drives markets". If that's the case, then the Far East is now the place to be for real estate developers, owners and investors worldwide. Based on Chesterton Humberts' latest Prime International Residential Review: Q2 2010, Read More
NAHB Says U.S. Home Builder's in 'Holding Pattern'

Posted by Michael Gerrity 08/17/10 3:15 PM

As nationwide housing starts inched up 1.7 percent to a seasonally adjusted annual rate of 546,000 units in July from a downwardly revised figure in the previous month, home builders nationwide are still holding their breath. Read More
Brazil's Hotel Market Heats Up Despite Weak Global Economy

Posted by Michael Gerrity 08/17/10 10:46 AM

According to Jones Lang LaSalle Hotels' Lodging Industry in Numbers - Brazil 2010, Brazil experienced a quick rebound in economic fundamentals in the second half of 2009 resulted in average daily rate (ADR) growth of 10.4 percent for the year. Read More
July Housing Starts Edge Up 1.7% Over June Starts

Posted by Michael Gerrity 08/17/10 8:46 AM

Today the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) released the following housing data for July 2010;Building PermitsPrivately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 565,000.... Read More
Home Price Index Decelerates in June, Says CoreLogic Report

Posted by Michael Gerrity 08/16/10 3:35 PM

According to CoreLogic's (NYSE: CLGX) Home Price Index (HPI), home prices in the U.S. increased in June, the fifth consecutive month showing a year-over-year increase. According to the CoreLogic HPI, national home prices, including distressed sales, increased ... Read More
Consumer Price Index Shows Slight Uptick in July

Posted by Michael Gerrity 08/16/10 10:24 AM

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in July on a seasonally adjusted basis. Over the last 12 months, the index increased 1.2 percent before seasonal adjustment.The... Read More
Home Builder Confidence Continues to Decline in August, Third Consecutive Monthly Drop in HMI

Posted by Michael Gerrity 08/16/10 10:15 AM

According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), home builder confidence in the market for newly built, single-family homes edged down for a third consecutive month in August. Read More
U.S. Hotel Sector Continues Performance Gains in Early August

Posted by Michael Gerrity 08/16/10 9:50 AM

According to the latest market data from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week ending August 7, 2010.In year-over-year measurements, the industry's occupancy increased 6.7 percent to 70.2... Read More
Brooklyn's Largest Residential Development Has Initial Closings

Posted by Michael Gerrity 08/13/10 2:17 PM

The Edge, Brooklyn's largest new residential development, has commenced closings on the development's first two towers. With immediate occupancy now available, buyers can move into their new homes Read More
Home Builders' Confidence Drops for Active Adult Communities in Q-2

Posted by Michael Gerrity 08/12/10 11:58 AM

According to new data from the National Association of Home Builders' (NAHB) 55+ Housing Market Index (55+ HMI) - a quarterly survey of the association's builder members engaged in the production of mature-market housing, Read More
Florida Home Sales Up 21% in Q-2

Posted by Michael Gerrity 08/12/10 8:58 AM

According to the latest housing statistics from Florida Realtors, sales of existing single-family homes in Florida rose 21 percent in second quarter 2010 compared to the same period a year earlier.A total of 51,564 existing homes sold statewide in 2Q... Read More
U.S. Hotel Industry to End 2010, Start 2011 with Uptick in Performance Metrics

Posted by Michael Gerrity 08/12/10 8:35 AM

According to Smith Travel Research (STR) latest forecast update, the U.S. hotel industry is projected to end 2010 with increases in two of the three key performance measurements. Read More
London Home Prices Show Slight Uptick in July

Posted by Michael Gerrity 08/11/10 12:10 PM

According to the latest Chesterton Humberts/CEBR July House Price Poll of Polls Report, UK home prices increased slightly in July 2010. Read More
NAR Reports 100 Out of Top 155 U.S. MSAs Had Home Price Increases in Q-2

Posted by Michael Gerrity 08/11/10 10:00 AM

According to the latest price survey by the National Association of Realtors (NAR), the trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, Read More
Mortgage Application Volumes Remain Flat, Despite Record Low Rates

Posted by Michael Gerrity 08/11/10 9:32 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending August 6, the Market Composite Index, a measure of mortgage loan application volume, Read More
Lender Losses Mount From Short Sales, Topping $310 Million in 2010

Posted by Michael Gerrity 08/10/10 2:00 PM

According to CoreLogic's (NYSE: CLGX) latest 2010 Short Sales Research Study, lender loss is now over $300 million annually with over half of all short sales occurring in California, Florida, Texas and Arizona. Read More
Orlando Housing Market Continues Winning Sales Trend, Transactions Up 39% Over last Year

Posted by Michael Gerrity 08/10/10 12:16 PM

According to the Orlando Regional Realtor Association (ORRA), in July there were 2,387 homes sold in Orlando, which is a 39.54 percent increase over this time in 2009. Read More
Las Vegas Home Sales, Prices Continued to Decline in July

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

According to the latest stats from the Greater Las Vegas Association of Realtors (GLVAR), home sales and home prices declined further in July 2010. Read More
South Florida Beaches Expected to Dodge BP Oil Spill

Posted by Michael Gerrity 08/09/10 12:31 PM

Following an Executive Order by Florida Gov. Charlie Crist authorizing reappraisals for property owners affected by the BP oil disaster, the U.S. government's top cleanup official is now predicting the Gulf of Mexico spill should miss South Florida altogether and... Read More
Negative Home Equity Slows in Q-2; National Home Values Continue to Drop, Says New Zillow Report

Posted by Michael Gerrity 08/09/10 11:28 AM

According to the latest data from Zillow Real Estate Market Reports, home values in the United States continued to decline in the second quarter of 2010, Read More
U.S. Hotels Show Performance Gains in July

Posted by Michael Gerrity 08/06/10 2:40 PM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week ending July 31, 2010.In year-over-year measurements, the industry's occupancy increased 6.8 percent to 71.0 percent. Average daily... Read More
U.S. Unemployment Numbers Are Weaker Than Expected for July

Posted by Michael Gerrity 08/06/10 9:46 AM

The U.S. housing market hinges on consumers having jobs, and today's unemployment numbers didn't help that cause.According to the U.S. Bureau of Labor Statistics latest report released today, total nonfarm payroll employment declined by 131,000 in July, and the unemployment... Read More
Clear Capital Reports U.S. Quarter-Over-Quarter Home Price Gains Reach 7.9%

Posted by Michael Gerrity 08/05/10 3:33 PM

Today Clear Capital released its Home Data Index (HDI) market report that showed national quarterly price gains aided by home-buyer tax credits, but off-set by slowing yearly trends. REO saturation also continued its steady decline nationally, Read More
Senate Passes Bills to Help Stabilize FHA Multifamily, Single Family Programs

Posted by Michael Gerrity 08/05/10 2:27 PM

The Mortgage Bankers Association (MBA) today lauded Senate passage of H.R. 5872, a bill to increase the Federal Housing Administration's (FHA) multifamily commitment authority, and H.R. 5981, Read More
Home Remodeling Industry Dips in Q-2, Says NAHB

Posted by Michael Gerrity 08/05/10 9:36 AM

According to the latest National Association of Home Builders' (NAHB) Remodeling Market Index (RMI), the remodeling market slid backward during the second quarter. The RMI (combining current and future market indicators) sunk to 40.7 from 47.9 in the first quarter. Read More
Related Companies, Tishman Celebrate Topping Out of Manhattan's Newest 60 Story Residential Skyscraper

Posted by Michael Gerrity 08/05/10 9:24 AM

This week hundreds of construction workers, Related Companies' principals (owners of the building) and construction firm Tishman Construction Corporation celebrated the topping out of 440 West 42nd Street, as the final bucket of concrete was lifted to the roof, Read More
Mortgage Applications Increase Late July

Posted by Michael Gerrity 08/04/10 9:31 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending July 30, the Market Composite Index increased 1.3 percent on a seasonally adjusted basis from one week earlier. Read More
Pending Home Sales Still Declining in a Post-Tax Credit Era

Posted by Michael Gerrity 08/03/10 10:00 AM

According to the National Association of Realtors, pending home sales edged down with near-term sales expected to be notably lower in contrast to the spring surge when buyers rushed to take advantage of the home buyer tax credit. Read More
U.S. Hotels Report Performance Increases in Late July

Posted by Michael Gerrity 08/02/10 8:30 AM

According to data from Smith Travel Research, the U.S. hotel industry reported increases in all three key performance measurements during the week of July 24, 2010.In year-over-year measurements, the industry's occupancy increased 7.3 percent to 71.8 percent. Average daily rate... Read More
Mortgage Rates Reach 'New' Record Lows This Week

Posted by Michael Gerrity 07/30/10 8:00 AM

According to Freddie Mac's (OTC: FMCC) latest Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgages reached news record lows this week. This week's rate is the lowest since they began recording rates in 1971. Read More
Freddie Mac Reports Cash-In Refinancings Jumped to 22% in Second Quarter

Posted by Michael Gerrity 07/29/10 9:53 AM

Frank Nothaft According to a new report this week from Freddie Mac (OTC: FMCC), cash-out refinancing rose in the second quarter of 2010.Frank Nothaft, Freddie Mac vice president and chief economist stated, "Interest rates on fixed-rate mortgages are at 50-year... Read More
Commercial and Multifamily Mortgage Originations Increase in Q2, But Remain Flat Over Last Year

Posted by Michael Gerrity 07/28/10 12:10 PM

According to the Mortgage Bankers Association's (MBA) quarterly survey of commercial and multifamily mortgage bankers originations, ... Read More
Mortgage Applications Down This Week, Says MBA

Posted by Michael Gerrity 07/28/10 8:22 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending July 23, the Market Composite Index decreased 4.4 percent on a seasonally adjusted basis from one week earlier. Read More
U.S. Home Prices Remain Relatively Flat in 2010, Says Latest Case-Shiller Home Price Index

Posted by Michael Gerrity 07/27/10 11:15 AM

According to Standard & Poor's S&P/Case-Shiller Home Price Indices, the annual growth rates in 15 of the 20 MSAs ... Read More
Miami's 1450 Brickell Office Tower Signs Major New Leases

Posted by Michael Gerrity 07/27/10 8:40 AM

(MIAMI, FL) -- The 1450 Brickell building is on a roll these days. The 35-story, 582,817 square-foot 'class-A' office tower in downtown Miami's Financial District has finalized office leases with financial services firm BNY Mellon, Read More
U.S. Hotels Report Positive Performance Results for Mid-July

Posted by Michael Gerrity 07/26/10 1:39 PM

According to data from Smith Travel research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week of July 17, 2010. In year-over-year measurements, the industry's occupancy increased 7.3 percent to 71.0 percent. Read More
U.S. Home Builders Get Some Good News Today, New Home Sales Were Up in June

Posted by Michael Gerrity 07/26/10 1:30 PM

The National Association of Home Builders got some much needed good news today from the U.S. government. Coming off an historic low in May, sales of newly built, Read More
U.S. Government Reports Annualized 'New Home Sales' Rate for June is 330,000 Units, a 23% Increase Over May

Posted by Michael Gerrity 07/26/10 12:58 PM

According to data from according to the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in June 2010 were at a seasonally adjusted annual rate of 330,000. Read More
South Beach Condo Sales up 200% in Q-2, Prices Holding Firm at $1,365 a Square Foot

Posted by Michael Gerrity 07/26/10 12:53 PM

(MIAMI, FL) -- According to a new Condo Vultures report, South Beach new condo sales doubled ... Read More
'The Hamptons' Home Sales Spike 89.6% Year-over Year in Q2

Posted by Michael Gerrity 07/23/10 8:30 AM

According to a new report released this week by Prudential Douglas Elliman, price indicators rose as number of sales increased sharply in the Hamptons and Northfork real estate markets in the 2nd quarter of 2010. Read More
STR Reports Mid-year U.S. Hotel Market Results

Posted by Michael Gerrity 07/23/10 8:15 AM

According to data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance metrics for the first half of 2010 in year-over-year measurements. Read More
Florida's Existing Home Sales Rise 15% in June, Median Price Rise 2.1%

Posted by Michael Gerrity 07/22/10 4:53 PM

(ORLANDO, FL) -- Sales of existing homes in Florida rose 15 percent in June, marking 22 consecutive 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 State Reports Strong Q2 Home Sales

Posted by Michael Gerrity 07/22/10 4:34 PM

According to preliminary single-family sales data accumulated by the New York State Association of Realtors (NYSAR), the New York state housing market continued its strong start to 2010 as second quarter sales, Read More
California's Median Home Price Jumps 13.6% in June, Sales Dip 4.2%

Posted by Michael Gerrity 07/22/10 4:30 PM

According to the California Association of Realtors (CAR), existing home sales decreased 4.2 percent in June in California compared with the same period a year ago, while the median price of an existing home rose 13.6 percent.Quick Facts:Existing, single-family home... Read More
Long-term Mortgage Rates Reach New Record Lows, Says Freddie Mac

Posted by Michael Gerrity 07/22/10 4:14 PM

According to Freddie Mac (OTC:FMCC) latest Primary Mortgage Market Survey (PMMS), the 30-year and 15-year fixed-rate mortgages reached record lows not seen since the survey began in 1971. Read More
Existing Home Sales Drop 5.1% in June, Home Inventory Rises 2.5%

Posted by Michael Gerrity 07/22/10 10:13 AM

According to the National Association of Realtors (NAR), existing-home sales slowed in June due to the ending of the federal home buyer tax credit program. Read More
U.S. Hotel Market Continues to Improve in June

Posted by Michael Gerrity 07/22/10 8:00 AM

According to Smith Travel Research (STR), the U.S. hotel industry posted increases in all three key performance measurements during June 2010. Read More
Downtown Miami Enjoys 103% Year-over-year Increase in Condo Sales in Q2

Posted by Michael Gerrity 07/21/10 12:11 PM

(MIAMI, FL) -- Condo Vultures reports this week that an average of nearly 500 new condos traded per month in Greater Downtown Miami ... Read More
Low Interest Rates Drive Increased Mortgage Refi Applications

Posted by Michael Gerrity 07/21/10 8:59 AM

According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending July 16, ... Read More
S&P Index Reports Decline in Consumer Default Rates for June 2010, Mortgages Lead Pack

Posted by Michael Gerrity 07/20/10 2:10 PM

Data through June 2010, released today by Standard & Poor's and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, show that the monthly default rates declined for all five credit lines.... Read More
U.S. Government Reports No Change in New Home Construction Numbers for June

Posted by Michael Gerrity 07/20/10 2:08 PM

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2010:BUILDING PERMITSPrivately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of... Read More
Mortgage Banker's Profits Dip in Q-1, Says New MBA Report

Posted by Michael Gerrity 07/20/10 2:04 PM

According to the Mortgage Bankers Association's (MBA) first quarter 2010 Mortgage Bankers Production Survey released today, independent mortgage bankers and subsidiaries made an average profit of $606 on each loan they originated in the first quarter of 2010, down from... Read More
Single-Family Housing Starts Dip 5% in June

Posted by Michael Gerrity 07/20/10 1:35 PM

According to newly released figures today by the U.S. Commerce Department , single-family housing starts were virtually unchanged from the previous month at a seasonally adjusted annual rate of 454,000 units in June. Read More
STR Reports 'New' Global Hotel Construction Numbers

Posted by Michael Gerrity 07/19/10 1:47 PM

According to the June 2010 STR Global Construction Pipeline Report released this week. The Europe hotel development pipeline comprises 670 hotels totaling 117,024 rooms. Read More
U.S. Home Builder Confidence Continues to Slide in July

Posted by Michael Gerrity 07/19/10 10:16 AM

According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today, home builder confidence in the market for newly built, single-family homes declined ... Read More
Queens New York Home Prices Slip as Sales Surged in Q2

Posted by Michael Gerrity 07/16/10 8:15 AM

According to a new report released this week by Prudential Douglas Elliman, Queens' residential listing inventory slipped as number of sales rose sharply. Read More
U.S. Hotel Construction Drops 28.5% Year-over-year in June 2010

Posted by Michael Gerrity 07/15/10 2:09 PM

According to the June 2010 STR/TWR/Dodge Construction Pipeline Report released this week, the total active U.S. hotel development pipeline comprises 3,387 projects totaling 358,739 rooms. Read More