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  California Home Sales Jump 2.1% in September, Home Prices Slide Another 7.3%

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Dubai's Emaar Properties Reports Y-T-D Revenues of USD $1.47 Billion

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Florida's Existing Home Sales Jump 34%, Condo Sales Jump 77% in September

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Credit Crisis Continues to Significantly Affect Hotel Development

  Posted by PRESS ROOM 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

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  U.S. Monthly House Price Index Reports 0.3 Percent Price Decline in August

  Posted by PRESS ROOM 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

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  Mandarin Oriental Showcases Las Vegas' Most Sophisticated Meeting Facilities

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Builders Plead with Congress to Extend Home Buyer Tax

  Posted by PRESS ROOM 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

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  Housing Starts Remain Flat in September

  Posted by PRESS ROOM 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

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  Government Reports New Residential Construction Numbers for September 2009

  Posted by PRESS ROOM 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

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  Builder Confidence Slips in October

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  New Luxury Condo Tower Coming to Kuala Lumpur's Business District

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Las Vegas CityCenter Reveals The SPA at ARIA Resort

  Posted by PRESS ROOM 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

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  Homes Sold in Orlando Continue Rise, Pending Sales Pipeline Building

  Posted by PRESS ROOM 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

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  The City of Orlando Celebrates Opening of World-Class Medical Center

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Iconic Burj Dubai Tower Nearing Completion

  Posted by PRESS ROOM 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

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  Abu Dhabi's TDIC Reports on Thirteen Key UAE Projects at Dubai Cityscape Event

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Curacao's Upscale $700M Santa Barbara Plantation Prepares for Winter Opening

  Posted by PRESS ROOM 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

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  HDI Reports Late-Summer Softening of Home Price Gains, Reduced REO Saturation Rates

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Timeshare Industry Proves Resilient

  Posted by PRESS ROOM 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

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  Italian Hotel Market Thriving During Recession

  Posted by PRESS ROOM 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

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  Mortgage Applications Increase; Third Consecutive Week Fixed Rates Below Five Percent

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  UCF Approves Master's Degree Program for Dr. P. Phillips School of Real Estate

  Posted by PRESS ROOM 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

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  Builders Ready to Work With White House, Congress to Extend Home Buyer Tax Credit

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Miami's 1450 Brickell Tower Signs largest Office Lease Deal in South Florida in 2009

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Mortgage Applications Down This Week, Says MBA

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Case-Shiller Home Price Index Reports Sixth Consecutive Month of Positive Gains

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Survey Shows Credit Woes Threaten Housing Recovery

  Posted by PRESS ROOM 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

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  New-Home Sales Rise Marginally in August

  Posted by PRESS ROOM 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

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  California August Home Sales Increased 9%; Median Home Prices Dropped 16.9%

  Posted by PRESS ROOM 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

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  STR Reports Global Hotel Performance for August 2009

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  STR Reports U.S. Hotel Performance for August

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Prague Selling Itself Short, Says STR Global Report

  Posted by PRESS ROOM 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

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  ARDA Reports Vacations Can Make Kids Smarter

  Posted by PRESS ROOM 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

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  U.S. Government Reports Monthly House Price Index Rose 0.3 Percent from June to July

  Posted by PRESS ROOM 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

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  NAHB, NAR, MBA All Say Appraisal Reform is Needed

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Forty Percent of California's First-time Home Buyers Significantly Influenced by Tax Credit

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Long-Term Rates Down For Third Consecutive Week

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Single-Family Starts Ease as Credit Deadline Looms

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Vegas' CityCenter Plans a Multi-Tower Grand Opening in December

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  New NAHB Survey Reports Baby Boomers Want Convenience and Energy Efficiency in New Homes

  Posted by PRESS ROOM 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

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  Home Buyers Want to Save Energy - But Only at the Right Price

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Las Vegas CityCenter's Aria and Vdara Resort Hotels Receive LEED Gold Certification Status

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Bank-owned and Distressed Sales Drives Down Orlando's Median Home Price

  Posted by PRESS ROOM 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

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  STR's 2009 Hotel Projections Hold Steady

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  The Rain in Spain

  Posted by PRESS ROOM 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

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  Lower Rates Spur Mortgage Applications in Latest MBA Survey

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Lodging Econometrics Reports New Hotel Openings for Europe, Middle East & Africa

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Puerto Rico's First Luxury 5-Star Beachfront Community is Thriving Amid a Global Slowdown

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Mortgage Applications Decrease in Latest MBA Weekly Survey

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Le Méridien Hotels & Resorts Expands Into Vietnam

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  STR Reports Global Hotel Performance Numbers for July 2009

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  California Reports 12 Percent Increase in July Home Sales, Median Home Price Declined 19.6 Percent

  Posted by PRESS ROOM 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

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  Florida's Existing Home, Condo Sales Up in July 2009

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Mortgage Delinquencies in Florida Rise, Says New MBA Survey

  Posted by PRESS ROOM 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

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  Housing Affordability Continues to Hover Near Highest Level in 18 Years

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Adventures by Disney Announces 19 Global Destination Locations for 2010 Travel Itinerary

  Posted by PRESS ROOM 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

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  NAHB Reports Single-Family Housing Starts & Permits Rise in July

  Posted by PRESS ROOM 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

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  Florida's Has 20.1 Million Visitors in Q-2, Says State's Tourism Board

  Posted by PRESS ROOM 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

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  NAHB Reports Apartment Market Stalls, While Condo Market Shows Movement

  Posted by PRESS ROOM 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

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  Westin Hotel's Sleep Study Reports Asian Travelers Prefer a Great Night's Sleep to Great Sex

  Posted by PRESS ROOM 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

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  Government Reports July 2009 Residential Home Construction Numbers

  Posted by PRESS ROOM 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

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  Builder Confidence Continues Upward in August

  Posted by PRESS ROOM 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

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  Supply Growth to Stifle Hotel RevPAR in 2010, Says STR

  Posted by PRESS ROOM 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

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  Lodging Economics Reports on Latin America Q2, 2009 Construction Pipeline

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Slight Improvement in Labor Market Encouraged Long-Term Mortgage Rates to Inch Up

  Posted by PRESS ROOM 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

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  Florida's Existing Home, Condo Sales Rise in Q2

  Posted by PRESS ROOM 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

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  Credit Crunch Hits NAHB Show Home

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Orlando's July Completed Home Sales and Contract Filings Nearly Double Over Last Year

  Posted by PRESS ROOM 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

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  Builders Call on Congress to Extend and Enhance Home Buyer Tax Credit

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Las Vegas' CityCenter to be one of World's Largest Green Developments

  Posted by PRESS ROOM 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

  Video Enhanced Story

• Better Than Expected Economic Reports Help Keep Mortgage Rates Low This Week

  Posted by PRESS ROOM 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

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  Remodeling Market Activity Builds Momentum

  Posted by PRESS ROOM 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

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  MBA Reports Q2 Commercial & Multifamily Mortgage Originations Up from Q1, But Down from Last Year

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  The Enclave at Cypress Grove Opens on Monterey Peninsula

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Massey Knakal Releases Mid-year 2009 Brooklyn Building Sales Report

  Posted by PRESS ROOM 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

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  CityCenter Las Vegas Drives Energy Sustainablity Efforts with World's First Compressed Natural Gas Powered Limo Fleet

  Posted by PRESS ROOM 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

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  California Association of Realtors Approves 384 Applications for New Mortgage Protection Program

  Posted by PRESS ROOM 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

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  Sheraton Opens First 5-Star Hotel in Korea's Songdo City

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Massey Knakal Realty Services Releases Mid-Year Manhattan Building Sales Report

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  U.S. Luxury Hotel Market Facing Tough Enviroment, Says STR

  Posted by PRESS ROOM 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

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  Holiday Inn Opens First Hotel in the Maldives in September

  Posted by PRESS ROOM 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

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  U.S. Hotels' Room Revenues Drop 18.7% in First Half of 2009, Says STR

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  STR Global Reports Worldwide Hotel Performance Numbers for June 2009

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Home Price Declines Continue to Abate According to Case-Shiller Home Price Indices

  Posted by PRESS ROOM 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

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  Westin Resorts Expands into Thailand

  Posted by PRESS ROOM 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

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  California Home Sales Increased 20.1% in June, Median Home Price Declined 26.4%

  Posted by PRESS ROOM 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

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  W Hotels Unveils W South Beach

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  New Home Construction Numbers Jump in June

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Florida's Construction Industry is on Life Support, Says JBREC

  Posted by PRESS ROOM 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

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  STR Reports U.S. Hotel Performance for June

  Posted by PRESS ROOM 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

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  Disney's Bay Lake Tower Set to Open August 4th

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Florida's Existing Home, Condo Sales Up in June 2009

  Posted by PRESS ROOM 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

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  Appraisal & ADC Problems Hampering Housing Recovery, Builders Tell Congress

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  U.S. Monthly House Price Index Estimates 0.9 Percent Price Increase from April to May

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  STR Reports Canadian Hotel Pipeline for Second Quarter 2009

  Posted by PRESS ROOM 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

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  Apartments and Condos Bring Jobs, Economic Benefits to Cities

  Posted by PRESS ROOM 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

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  The Landings, a Luxury Caribbean Residential Yacht Community, is Becoming St. Lucia's Helen

  Posted by PRESS ROOM 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

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  Builder Confidence Rises Two Points in July

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 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

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  London's Airport Hotels Suffer with Traffic Falls

  Posted by PRESS ROOM 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

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  Mandarin Oriental Las Vegas Set to Debut in December

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  STR Reports U.S. Hotel Performance

  Posted by PRESS ROOM 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

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  Mortgage Rates Down This Week Amid Concerns Over Labor Market

  Posted by PRESS ROOM 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

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  STR Releases Updated U.S. Travel Forecasts for 2009 and 2010

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Sheraton Incheon Hotel Will Soon be Unveiled in Korea's Newest Major Development, Incheon - Songdo City

  Posted by PRESS ROOM 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

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  Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 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

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  Increased affordability, Low Mortgage Rates Motivating California Home Buyers, Says C.A.R. Survey

  Posted by PRESS ROOM 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

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  Kuching Malaysia Celebrates Opening of New Four Points Sheraton Resort

  Posted by PRESS ROOM 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

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  MGM CityCenter Reveals Unparalleled Collection of Luxury Retailers and Restaurants

  Posted by PRESS ROOM 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

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  Rising Fuel Prices and Economic Uncertainty to Dampen July 4th Holiday Travel, Says AAA

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Crowne Plaza Hotel Moves into Portugal

  Posted by PRESS ROOM 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

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  CBRE Releases Global Retail Report, New York City Still Most Expensive Market

  Posted by PRESS ROOM 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

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  Pace of Home Price Declines Moderate in April According to S&P/Case-Shiller Home Price

  Posted by PRESS ROOM 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

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  Willco Companies to Launch $100 Million Real Estate Investment Fund

  Posted by PRESS ROOM 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

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  STR Reports Worldwide Hotel Performance Results For May 2009

  Posted by PRESS ROOM 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

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  California Home Sales Increased 35.2 Percent; Median Home Prices Declined 30.4 Percent, Says C.A.R.

  Posted by PRESS ROOM 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 PRESS ROOM 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 PRESS ROOM 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

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  Federal Housing Finance Agency Reports Increase in Mortgage Rates

  Posted by PRESS ROOM 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

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  NAHB Reports New-Home Sales Virtually Flat in May

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  STR Reports U.S. Hotel Performance for May 2009

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 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

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  Hotel Industry Posts Record Room Revenue in 2008, Other Indicators Slide

  Posted by PRESS ROOM 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

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  New Disney Vacation Club Treehouse Villas Blend Modern Luxury with Nostalgic Appeal Amid Forested Glens

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  New York State Housing Market Posts Monthly Sales Gains for Third Consecutive Month

  Posted by PRESS ROOM 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 PRESS ROOM 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

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  New Guidelines Needed for Appraising Distressed Properties

  Posted by PRESS ROOM 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

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  MBA Lowers 2009 Mortgage Originations Forecast To $2.03 Trillion

  Posted by PRESS ROOM 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. Read More

• STR Reports U.S. Hotel Performance

  Posted by PRESS ROOM 06/22/09 1:04 PM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 7-13 June 2009, according to data from STR. Read More

• Belfast's Hotel RevPAR Strong Despite Declines

  Posted by PRESS ROOM 06/22/09 12:41 PM

  (LONDON, UK) -- Data from STR Global shows the decline of the Belfast hotel market being offset by surprisingly competitive recent revenue per available room. The year-over-year percentage change in RevPAR for the 14 hotels sampled by STR Global in Belfast-which includes a mix of independent, domestic and international branded properties-has been in accelerated decline since September 2008. Read More

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  The Downturn Happens Even In Paradise

  Posted by PRESS ROOM 06/19/09 9:00 AM

  (WASHINGTON, DC) -- It's a deal the Army couldn't refuse. London-based InterContinental Hotels Group PLC [LON: IHG; NYSE: IHG (ADRs), which calls itself the world's largest hotel organization by number of rooms (500,000), plans to convert 3,200 old Army hotel rooms at 10 bases into Holiday Express brands. Read More

• Low Inflation Figures Push Mortgage Rates Back Down

  Posted by PRESS ROOM 06/19/09 9:00 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 5.38 percent with an average 0.7 point for the week ending June 18, 2009, Read More

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  Intercontinental Hotels Expands Into Russia, Announces New Luxury Moscow Hotel

  Posted by PRESS ROOM 06/19/09 9:00 AM

  (MOSCOW, RUSSIA) -- InterContinental Hotels & Resorts announced its plans to open a new hotel in Moscow called InterContinental Moscow Tverskaya, which is scheduled for completion in September 2010. Read More

• Mortgage Applications Decrease in Latest MBA Weekly Survey

  Posted by PRESS ROOM 06/18/09 9:00 AM

  (WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 12, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 514.4, a decrease of 15.8 percent on a seasonally adjusted basis from 611.0 one week earlier. Read More

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  MBA Reacts to Obama Administration's Regulatory Reform Proposal

  Posted by PRESS ROOM 06/18/09 8:00 AM

  (WASHINGTON, DC) -- The Mortgage Bankers Association issued the following reaction to the regulatory reform proposal unveiled today by President Obama and his economic team. Read More

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  Housing Starts and Permits Post Gains in May

  Posted by PRESS ROOM 06/17/09 9:00 AM

  (WASHINGTON, D.C.) -- Nationwide housing starts rebounded in May from record lows in the previous month, posting a 17.2 percent gain to a seasonally adjusted annual rate of 532,000 units, according to U.S. Commerce Department figures released today. Read More

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  Germany's Top Four ADR Hotel Performers

  Posted by PRESS ROOM 06/17/09 8:50 AM

  (LONDON, UK) -- Average room rate performance for Germany's cities so far this year varies dramatically according to data from STR Global. Of the 17 city markets in the Federal Republic covered by STR Global, Read More

• MBA Supports Proposal for $15,000 Tax Credit for All Homebuyers

  Posted by PRESS ROOM 06/16/09 9:00 AM

  (WASHINGTON, D.C.) -- David G. Kittle, CMB, Chairman of the Mortgage Bankers Association issued the following statement today in support of S. 1230, The Homebuyer Tax Credit Act of 2009. Read More

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  STR Reports U.S. Hotel Pipeline for May 2009

  Posted by PRESS ROOM 06/16/09 9:00 AM

  (HENDERSONVILLE, TN) -- The total active U.S. hotel development pipeline includes 4,907 projects with 522,778 rooms, according to the May 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More

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  Builder Caution Reflects Fragile Housing Market in June

  Posted by PRESS ROOM 06/16/09 8:00 AM

  (WASHINGTON, D.C.) -- Indicating that single-family home builders remain cautious and concerned about the fragile state of today's economy and housing market, the National Association of Home Builders / Wells Fargo Housing Market Index (HMI) declined one point to 15 in June. Read More

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  Abu Dhabi's Aldar Properties and Cambridge Sign LEAD Partnership Agreement

  Posted by PRESS ROOM 06/15/09 12:17 PM

  (ABU DHABI, UAE) -- Aldar Properties, Abu Dhabi's leading property developer, has signed up Cambridge University's Judge Business School, one of the top ten in the world, to deliver a new version of Aldar's LEAD (Leadership Excellence Applied Diploma) Program. Read More

• STR Reports U.S. Hotel Performance

  Posted by PRESS ROOM 06/12/09 9:00 AM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 31 May-6 June 2009, according to data from STR. Read More

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  Occupancy Rate in New Downtown Miami Condominiums Eclipses 60 Percent, Continues To Trend Upward

  Posted by PRESS ROOM 06/12/09 8:00 AM

  (MIAMI, FL) -- Over 62% of the residential units completed in Downtown Miami since 2003 are occupied and the closing rate is accelerating despite obstacles to financing, ... Read More

• Green Act the Right Approach for Affordable, Sustainable Homes, Says NAHB

  Posted by PRESS ROOM 06/11/09 5:54 PM

  (WASHINGTON, D.C.) -- In testimony before Congress today, the National Association of Home Builders (NAHB) praised H.R. 2336, the GREEN Act of 2009, which sets new green building and sustainability benchmarks for properties that get financial assistance from the federal Department of Housing and Urban Development. Read More

• Bond Yields Push Mortgage Rates to Highest Level in Seven Months

  Posted by PRESS ROOM 06/11/09 3:22 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 5.59 percent with an average 0.7 point for the week ending June 11, 2009, up from last week when it averaged 5.29 percent. Read More

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  Starwood Hotels Strengthens Its Presence in New Caledonia

  Posted by PRESS ROOM 06/10/09 3:16 PM

  (SINGAPORE) -- Starwood Hotels & Resorts Worldwide, Inc (NYSE: HOT) reinforces its leadership position in New Caledonia, announcing the signing of an agreement with a subsidiary of Societé des Hotels de Noumea to manage a new-build Sheraton resort. At the same time, Read More

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  CB Richard Ellis Reports Miami Commercial Real Estate Market Dynamics

  Posted by PRESS ROOM 06/10/09 1:58 PM

  (MIAMI, FL) -- CB Richard Ellis (NYSE:CBG) reports that Miami continues to be one of the most dynamic real estate markets in Florida. With a high density population, diversified economy, a natural barrier to entry, Latin American influence, and ... Read More

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  STR Global Reports Hotel Performance for Germany

  Posted by PRESS ROOM 06/10/09 12:10 PM

  (LONDON, UK) -- Whilst the circumstances are different, data from STR Global shows that Germany's hoteliers might be holding their nerve more than in the previous recession. The last German recession, Read More

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  Wave of Sales in the Pipeline Buoys Orlando Housing Market

  Posted by PRESS ROOM 06/10/09 11:40 AM

  (ORLANDO, FL) -- Members of the Orlando Regional Realtor Association in May sold nearly 38 percent more homes than in May of last year, contributing to the area's year-to-date sales increase of 44 percent. ... Read More

• Purchase Applications Remain Steady, Refinance Applications Continue to Fall in Latest MBA Weekly Survey

  Posted by PRESS ROOM 06/10/09 11:35 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 5, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 611.0, a decrease of 7.2 percent on a seasonally adjusted basis from 658.7 one week earlier. Read More

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  Lodging Economics Releases Asia Pacific Hotel Construction Pipeline Report for Q1, 2009

  Posted by PRESS ROOM 06/08/09 3:20 PM

  (PORTSMOUTH, NH) -- There is mounting evidence that the precipitous economic declines in many countries in Asia Pacific may be close to ending. A bottom is likely forming, hopefully to be followed by a modest recovery. Read More

• New York Realtors Converge in Albany to Advocate for Property Tax Relief, Home Buying Incentives

  Posted by PRESS ROOM 06/08/09 3:16 PM

  (ALBANY, NY) -- Members of the New York State Association of Realtors will gather at the state Capitol tomorrow to impress upon their representatives in Albany the need for property tax relief, home buying incentives and number of other pro-homeownership initiatives. Read More

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  StratREAL Advises on Commercial Property Purchase in London's West End

  Posted by PRESS ROOM 06/08/09 12:40 PM

  (LONDON, UK) -- Strategic Real Estate Advisors (StratREAL) has acted as real estate investment advisor and asset manager on behalf of a private client in the acquisition of a fully leased commercial property ... Read More

• Freddie Mac Modifies Relief Refinance Mortgage

  Posted by PRESS ROOM 06/08/09 8:00 AM

  (MCLEAN, VA) -- In a move aimed at furthering the success of President Obama's Making Home Affordable Program, Freddie Mac (NYSE: FRE) today announced several changes to its refinance offering under the program. Read More

• LandVest Seeing Positive Signs in New England High-end Real Estate Market

  Posted by PRESS ROOM 06/05/09 3:18 PM

  (BOSTON, MA) -- A reported rise in U.S. home sales has boosted hopes that the housing downturn is nearing its end and that the broader economy is moving toward recovery. Read More

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  Ultra-Lux Plaza Cinema Cafe 12 Theatres Open up in Downtown Orlando

  Posted by PRESS ROOM 06/05/09 2:24 PM

  (ORLANDO, FL) -- The Orlando office of CB Richard Ellis (NYSE:CBG) announced the grand opening of The Plaza Cinema Café 12 in Downtown Orlando this past week. The theater opened with a private celebration and ribbon-cutting ceremony ... Read More

• STR Reports U.S. Hotel Performance Down in All Three Key Measurements

  Posted by PRESS ROOM 06/05/09 1:52 PM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 24-30 May 2009, according to data from STR. Read More

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  Builders Serving Active Adult Home Buyer Market See More Consumer Interest

  Posted by PRESS ROOM 06/05/09 9:00 AM

  (WASHINGTON, DC) -- Builders of single-family housing for the active adult home buyer market reported an increase in traffic of prospective buyers during the first quarter of this year, according to the 55+ Housing Market Index (55+ HMI) released today by the National Association of Home Builders (NAHB). Read More

• Mortgage Rates Climb in Response to Recent Rise in Bond Yields

  Posted by PRESS ROOM 06/04/09 1:45 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 5.29 percent with an average 0.7 point for the week ending June 4, 2009, Read More

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  Why London Property Is Now a Good Bet for UHNW Investors

  Posted by PRESS ROOM 06/04/09 12:20 PM

  (LONDON, UK) -- Strategic Real Estate Advisors Limited (StratREAL), which provides real estate investment advisory and asset management services to both institutional and rich private investors, Read More

• Bolstering GSEs Key to Future of Nation's Housing Finance System

  Posted by PRESS ROOM 06/04/09 12:11 PM

  (WASHINGTON, DC) - In contemplating the future status of housing government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, the National Association of Home Builders (NAHB) yesterday told Congress Read More

• Commercial and Multifamily Originations Down 65 Percent to $181 Billion

  Posted by PRESS ROOM 06/04/09 11:22 AM

  (WASHINGTON, DC) -- The commercial/multifamily mortgage origination volumes decreased 65 percent in 2008, with mortgage bankers closing $181.4 billion in commercial and multifamily loans; Read More

• Purchase Activity Increases, Refinance Applications Decrease

  Posted by PRESS ROOM 06/03/09 8:06 AM

  (WASHINGTON, DC) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 29, 2009. The Market Composite Index, a measure of mortgage loan application volume, Read More

• $1 Billion REIT Buys Two Self Storage Properties in Atlanta; Pays All Cash

  Posted by PRESS ROOM 06/03/09 8:00 AM

  (ATLANTA, GA) -- Strategic Storage Trust, Inc. (SSTI) has expanded its portfolio by acquiring two self storage facilities totaling $9.6 million. The properties are located in prime suburban cities near Atlanta, GA. Read More

• MBA Reports Commercial and Multifamily Mortgage Delinquency Rates Continued to Rise in First Quarter

  Posted by PRESS ROOM 06/02/09 10:12 AM

  (WASHINGTON, DC) -- The weakening economy and continued credit crunch led to increases in commercial/multifamily mortgage delinquencies during the first quarter of 2009, according to the Commercial/Multifamily Delinquency Report, released today by the Mortgage Bankers Association (MBA). Read More

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  Lodging Economics Reports Global Hotel Construction Pipeline For Q1, 2009

  Posted by PRESS ROOM 06/01/09 11:27 AM

  (PORTSMOUTH, NH) -- The global economic crisis, which has affected credit availability and caused decreases in consumer and business travel, resulting in occupancy and room rates declines throughout EMEA, is also having a serious impact on lodging development. Read More

• HUD Secretary Donovan Unveils Details Of Plan To Monetize Home Buyer Tax

  Posted by PRESS ROOM 06/01/09 8:05 AM

  (WASHINGTON, DC) - In a speech before the National Association of Home Builders (NAHB) Board of Directors, HUD Secretary Shaun Donovan today unveiled new rules that will help spur the housing market Read More

• National Home-Price Decline Decelerated In First Quarter

  Posted by PRESS ROOM 05/29/09 8:31 AM

  (MCLEAN, VA) -- Freddie Mac (NYSE: FRE) announced today that its Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series registered a 5.3 percent annualized decline in U.S. house prices during the first quarter of 2009, following a downward revised 18.5 percent annualized drop in the fourth quarter. Read More

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  STR Global Reports Worldwide Hotel Performance Results For April 2009

  Posted by PRESS ROOM 05/29/09 8:00 AM

  (LONDON & HENDERSONVILLE, TN) -- The Americas region reported declines in all three key performance metrics when reported in U.S. dollars for April 2009, according to data compiled by STR and STR Global. Read More

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  New-Home Inventories Continue Shrinking In April

  Posted by PRESS ROOM 05/28/09 3:00 PM

  (WASHINGTON, DC) -- The number of newly built single-family homes on the market shrank to 297,000 units in April, thinning supplies to their lowest level since May 2001, according to government figures released toda Read More

• California Association of Realtors Reports April Home Sales Increased 49.2 Percent, Home Price Declined 36.5 Percent

  Posted by PRESS ROOM 05/28/09 2:38 PM

  (LOS ANGELES, CA) -- Home sales increased 49.2 percent in April in California compared with the same period a year ago, while the median price of an existing home declined 36.5 percent, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) reported today. Read More

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  MBA Reports Delinquencies and Foreclosures Continue to Climb, Job Losses Remain a Driving Factor

  Posted by PRESS ROOM 05/28/09 10:36 AM

  (WASHINGTON, D.C.) -- Foreclosure actions were initiated on 1.37 percent of first mortgages during the first quarter of 2009, according to the Mortgage Bankers Association. Read More

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  Metrostudy Reports National and Local Housing Starts Plunge

  Posted by PRESS ROOM 05/28/09 8:00 AM

  (HOUSTON, TX) -- Consistent with the latest national housing starts figures released today by the U.S. Department of Commerce, national housing market research firm Metrostudy maintains its forecast at 490,000 starts for calendar year 2009. Read More

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  Florida's Existing Home, Condo Sales Rise in April 2009

  Posted by PRESS ROOM 05/27/09 3:34 PM

  (ORLANDO, FL) -- Florida's existing home sales rose in April - the eighth consecutive month 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

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  Home Prices Fall in First Quarter; Pace of Decline Lessens Considerably

  Posted by PRESS ROOM 05/27/09 11:04 AM

  (WASHINGTON, D.C.) -- U.S. home prices fell in the first quarter of 2009 according to the Federal Housing Finance Agency's (FHFA) seasonally-adjusted purchase-only house price index (HPI). Read More

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  STR Reports U.S. Hotel Performance for April 2009

  Posted by PRESS ROOM 05/27/09 10:34 AM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during April, according to data from STR. Read More

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  Refinance Activity Falls, Purchase Applications Steady in Latest MBA Survey

  Posted by PRESS ROOM 05/27/09 9:36 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 22, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 786, a decrease of 14.2 percent on a seasonally adjusted basis from 915.9 one week earlier. Read More

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  Multifamily Builder Confidence Up From Record Lows

  Posted by PRESS ROOM 05/26/09 11:18 AM

  (WASHINGTON, D.C.) -- ecent hints of optimism in the housing industry appear to have spread to the multifamily sector, according to the latest results of Multifamily Rental Market Index (MRMI) and the Multifamily Condo Market Index (MCMI), released today by the National Association of Home Builders (NAHB). Read More

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  Nationally, Home Prices Began 2009 with Record Declines According to the S&P/Case-Shiller Home Price Indices

  Posted by PRESS ROOM 05/26/09 10:25 AM

  (New York, NY) -- Data through March 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 continues to set record declines, ... Read More

• STR Reports U.S. Hotel Performance

  Posted by PRESS ROOM 05/22/09 11:10 AM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 10-16 May 2009, according to data from STR. Read More

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  Sheraton Hotels & Resorts Heads To The Spring City Of China

  Posted by PRESS ROOM 05/22/09 11:03 AM

  (SHANGHAI, CHINA) -- Starwood Hotels & Resorts Worldwide, Inc, Inc. (NYSE: HOT) announced today that Sheraton Hotels & Resorts will make its debut in the capital of Shandong Province on China's east coast with a 445-room Sheraton hotel in Jinan. Read More

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  Mortgage Rates Flat This Week Thanks Mainly To Actions By Treasury And The Fed

  Posted by PRESS ROOM 05/21/09 3:14 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 4.82 percent, ... Read More

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  InterContinental Hotels Opens First Managed Crowne Plaza Hotel in Taiwan

  Posted by PRESS ROOM 05/21/09 9:27 AM

  (KAOHSIUNG, TAIWAN) -- IHG (InterContinental Hotels Group), the world's largest hotel group by number of rooms, today signed a management contract with Taiwan-based E United Group to manage a 650-room Crowne Plaza Kaohsiung E-Da World. Read More

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  CBRE Realty Trust and Duke Realty Team Up to Buy Three Commercial Properties

  Posted by PRESS ROOM 05/20/09 5:00 PM

  (PRINCETON, NJ) -- CB Richard Ellis Realty Trust and Duke Realty Corporation (NYSE: DRE) (Duke) have completed the acquisition of three additional fully leased properties, all with long-term leases, under the joint venture agreement announced between the two companies in 2008. Read More

• MGM MIRAGE Hospitality and Pearl Dubai to Develop Bellagio, MGM Grand, and Skylofts Brands at Dubai Pearl

  Posted by PRESS ROOM 05/20/09 2:45 PM

  (LAS VEGAS, NV & DUBAI, U.A.E.) -- MGM MIRAGE and Pearl Dubai FZ LLC today announced plans to develop Bellagio, MGM Grand, and Skylofts hotels, as well as branded residences at Dubai Pearl, the $4 billion (USD) world-class, fully integrated luxury development in Dubai, United Arab Emirates. Read More

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  MGM's CityCenter Nears Completion as it Tops out Final Residential Component, Veer Towers

  Posted by PRESS ROOM 05/20/09 12:18 PM

  (LAS VEGAS, NV) -- CityCenter is celebrating a milestone with the recent "topping out" of its dramatically inclining high-rise condominiums, Veer Towers, CityCenter's only pure residential offering. Preceded by Vdara Hotel, ARIA Resort & Casino and ... Read More

• Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 05/20/09 10:56 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 15, 2009. Read More

• Green Building Growing at a Surprising Rate, NAHB Says

  Posted by PRESS ROOM 05/20/09 10:46 AM

  (WASHINGTON, D.C.) -- As builders and remodelers retool their businesses in a tight credit market and recapture the interest of jittery consumers, this spring is the greenest yet for the nation's home building industry, according to the National Association of Home Builders (NAHB). Read More

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  National Harbor Sells Land to Disney, Site Being Considered for New Resort Hotel

  Posted by PRESS ROOM 05/19/09 7:36 PM

  (NATIONAL HARBOR, MD) -- The Peterson Companies announced today the sale of land at its National Harbor development near Washington, DC to Walt Disney Parks and Resorts. Read More

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  NAHB Reports Single-Family Starts And Permits Edge Higher In April

  Posted by PRESS ROOM 05/19/09 11:48 AM

  (WASHINGTON, D.C.) -- Production of single-family homes edged upward in April as builders responded to improving conditions for new-home buyers, according to newly released figures by the U.S. Commerce Department. Read More

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  U.S. Census Bureau Reports Record Low New Home Construction Numbers for April 2009

  Posted by PRESS ROOM 05/19/09 9:12 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 April 2009: ... Read More

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  Builder Confidence Continues To Rise In May

  Posted by PRESS ROOM 05/18/09 1:43 PM

  (WASHINGTON, D.C.) -- Builder confidence in the market for newly built, single-family homes improved for a second consecutive month in May to the highest level since September of 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. Read More

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  Cushman & Wakefield Handles Westchester County's largest Office Lease Transaction of 2009

  Posted by PRESS ROOM 05/18/09 1:28 PM

  (News Source: Cushman & Wakefield)(HARRISON, NY) -- Cushman & Wakefield today announced that Diversified Investment Advisors, Inc, a national investment advisory firm specializing in retirement plans, leased 115,000 square feet of office space for its corporate headquarters at 440 Mamaroneck... Read More

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  HomeGain Releases Results of Second Quarter Survey of Realtors on Home Prices

  Posted by PRESS ROOM 05/18/09 8:00 AM

  (EMERYVILLE, CA) -- HomeGain, the first website to provide free instant home values, today announced the results of an extensive nationwide survey on home prices based the responses of over 1,150 Realtors. Read More

• Vice President Biden Announces Nearly $100 Million In Recovery Act Funds To Clean Up Dangerous Lead In Housing

  Posted by PRESS ROOM 05/15/09 4:18 PM

  (LOS ANGELES, CA) -- Following a tour of the Esperanza Community Housing Corporation in South Central Los Angeles, Vice President Biden today announced that HUD is making nearly than $100 million in Recovery Act funding available to help eliminate dangerous lead-based paint and other health and safety hazards from low-income homes. Read More

• STR Reports U.S. Hotel Performance

  Posted by PRESS ROOM 05/15/09 4:03 PM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 3-9 May 2009, according to data from STR. In year-over-year measurements, the industry's occupancy fell 14.0 percent to end the week at 53.6 percent. Read More

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  Duke Realty Announces Development Of 460,000 Square Foot Outpatient Cancer Treatment Center For Baylor University

  Posted by PRESS ROOM 05/15/09 11:04 AM

  (INDIANAPOLIS, IN) -- Duke Realty Corporation (NYSE: DRE), an owner, manager and developer of industrial, office and healthcare properties throughout the United States, ... Read More

• Remodeling Market Shows Signs Of Recovery

  Posted by PRESS ROOM 05/14/09 5:18 PM

  (WASHINGTON, D.C.) -- The residential remodeling market showed signs of improvement during the first quarter of 2009 with significant growth in all indicators, according to the latest National Association of Home Builders' (NAHB) Remodeling Market Index (RMI). Read More

• Not Much Change In Fixed Rate Mortgage Rates

  Posted by PRESS ROOM 05/14/09 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 4.86 percent with an average 0.6 point for the week ending May 14, 2009, up from last week when it averaged 4.84 percent. Last year at this time, the 30-year FRM averaged 6.01 percent. Read More

• Cut to Terrorism Risk Insurance Will Exacerbate Credit Crunch in Commercial Real Estate

  Posted by PRESS ROOM 05/14/09 5:07 PM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today called on Congress to support the Terrorism Risk Insurance Act (TRIA). The call comes on the heels of the budget released by the Obama Administration on May 7, 2009 that proposes to reduce funding for TRIA by $644 million over the next decade. Read More

• California Association of Realtors Reports Entry-level Housing Affordability Index Reaches 69 Percent

  Posted by PRESS ROOM 05/14/09 4:57 PM

  (LOS ANGELES, CA) -- The percentage of households that could afford to buy an entry-level home in California stood at 69 percent in the first quarter of 2009, ... Read More

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  Dubai Marina Yacht Club Wins Best New Asian Marina and Yacht Club Awards

  Posted by PRESS ROOM 05/14/09 4:03 PM

  (DUBAI, U.A.E.) -- Dubai Marina Yacht Club, the recently opened yacht club and marina owned and managed by Emaar Hospitality Group, was voted 'Best New Asian Marina/Yacht Club' at the Asia Boating Awards held recently in Shanghai. Read More

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  Miami's 1450 Brickell Office Tower Installs Nation's Most Wind-Resistant Glass Curtain Wall

  Posted by PRESS ROOM 05/14/09 1:23 PM

  (MIAMI, FL) -- Miami's Brickell Avenue corridor made international headlines in 2005 when Hurricanes Katrina and Wilma blew out tens of thousands of windows, exposing downtown Miami businesses to devastating winds and flooding rains. Now, developers are taking steps to ... Read More

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  Northern European and Dublin's RevPAR Continue to Decline

  Posted by PRESS ROOM 05/14/09 10:17 AM

  (LONDON, U.K.) -- The European hotel industry reported expectedly poor year-to-date results for March 2009, according to data compiled by STR Global. "European RevPAR fell 14 percent year-on-year, Read More

• HUD Action Allows Home Buyers To Use $8,000 Tax Credit For Downpayments On FHA-Insured Loans

  Posted by PRESS ROOM 05/13/09 4:07 PM

  (WASHINGTON, D.C.) -- HUD Secretary Shaun Donovan's decision to allow consumers to use the $8,000 first-time home buyer tax credit to help cover their down payment and closing costs on FHA-insured mortgages will be a big boost to the housing market, according to the National Association of Home Builders (NAHB). Read More

• Survey Shows Continued Slowdown of Commercial / Multifamily Mortgage Lending in First Quarter 2009

  Posted by PRESS ROOM 05/13/09 10:56 AM

  (WASHINGTON, D.C.) -- Commercial and multifamily mortgage loan originations continued to drop in the first quarter of 2009, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Read More

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  STR Reports U.S. Hotel Pipeline for April 2009

  Posted by PRESS ROOM 05/13/09 10:35 AM

  (HENDERSONVILLE, TN) -- The total active U.S. hotel development pipeline includes 5,033 projects with 533,568 rooms, according to the April 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Read More

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  Sheraton Poised to Double its Footprint in India by 2012

  Posted by PRESS ROOM 05/13/09 10:01 AM

  (SINGAPORE) -- Starwood Hotels & Resorts Worldwide, Inc (NYSE: HOT) continues its expansion in India and Asia Pacific, today announcing an agreement with Joy Hotel and Resorts Private Limited to manage the Sheraton Chandigarh Hotel. Read More

• Refinance Activity Slows, Purchase Applications Steady in Latest MBA Weekly Survey

  Posted by PRESS ROOM 05/13/09 9:49 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 8, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 895.6, a decrease of 8.6 percent on a seasonally adjusted basis from 979.7 one week earlier. Read More

• Florida's Existing Home, Condo Sales Rise in 1Q 2009

  Posted by PRESS ROOM 05/12/09 3:19 PM

  (ORLANDO, FL) -- Sales of existing single-family homes in Florida rose 25 percent in first 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

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  Lodging Econometrics Release Latin America Hotel Construction Pipeline Data for Q1, 2009

  Posted by PRESS ROOM 05/12/09 2:39 PM

  (PORTSMOUTH, NH) -- After cresting in 2007, Latin America's (Caribbean, Mexico, Central and South America) decade-long economic boom trailed off in 2008 and is now declining ... Read More

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  Surge in Sales of Lower-priced Homes Indicate a Healing Housing Market

  Posted by PRESS ROOM 05/11/09 11:07 AM

  (Orlando, FL) -- Members of the Orlando Regional Realtor Association ("ORRA") in April sold nearly seven times more homes in the lower-price range categories then in the upper categories, which according to economists is typical of a rebounding market. Read More

• STR Reports U.S. Hotel Performance

  Posted by PRESS ROOM 05/08/09 10:50 AM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in the three key performance measurements during the week of 26 April-2 May, according to data from STR. Read More

• Mortgage Rates Rise On Positive Economic News Reported During The Week

  Posted by PRESS ROOM 05/07/09 4:34 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 4.84 percent with an average 0.7 point for the week ending May 7, 2009, Read More

• MBA's Story Testifies on Foreclosure Rescue Fraud

  Posted by PRESS ROOM 05/06/09 2:24 PM

  (WASHINGTON, D.C.) -- Robert E. Story, Jr., CMB, Chairman-Elect of the Mortgage Bankers Association (MBA), today testified before the House Financial Services Subcommittee on Housing and Community Opportunity at a hearing on "Legislative Solutions for Preventing Loan Modification and Foreclosure Rescue Fraud." Read More

• Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 05/06/09 10:41 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 1, 2009. Read More

• STR Reports U.S. Hotel Performance For Week Ending April 25th

  Posted by PRESS ROOM 05/01/09 4:10 PM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted decreases in all three key performance measurements during the week of 19-25 April, according to data from STR. Read More

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  RevPAR Premium Declines for Dubai's Beach Properties

  Posted by PRESS ROOM 05/01/09 10:39 AM

  (LONDON, UK) -- Data released today from STR Global illustrates the difference in performance of Dubai's hotels in the Jumeirah beach area and those in the rest of the city. Read More

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  30-Year Fixed Rate Mortgage Ties Record Low

  Posted by PRESS ROOM 05/01/09 10:16 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 4.78 percent with an average 0.7 point ... Read More

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  STR Releases Updated Projections for 2009 and 2010

  Posted by PRESS ROOM 04/29/09 12:40 PM

  (HENDERSONVILLE, TN) -- STR projects a 9.8-percent year-over-year decline in revenue per available room for 2009, and it expects a 1.5-percent increase in 2010, according to the latest data released from the Hendersonville-based company. Read More

• Mortgage Applications Decrease in Latest MBA Weekly Survey

  Posted by PRESS ROOM 04/29/09 12:34 PM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 24, 2009. Read More

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  Occupancy Declines Hit Thai Markets, Rates Are Steadier

  Posted by PRESS ROOM 04/28/09 4:07 PM

  (LONDON, UK) -- Data released today from STR Global highlights the plight of local markets in Thailand and puts the effect of the country's recent political disruption into a regional context. Read More

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  Lodging Econometrics Releases Q1 2009 Hotel Construction Pipeline Report

  Posted by PRESS ROOM 04/28/09 4:00 PM

  (PORTSMOUTH, NH) -- In Q1 2009, the US Construction Pipeline decelerated rapidly and now stands at 4,918 projects / 619,431 rooms. Compared to the Pipeline peak in Q2 2008, this is a drop of 16% by projects and 21% by rooms, ... Read More

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  New Housing Trends Study: Most Baby Boomers Prefer To Age In Place

  Posted by PRESS ROOM 04/28/09 3:07 PM

  (PHILADELPHIA, PA) -- Most Baby Boomers, like their parents, are choosing to "age in place," but a large and growing number - more than 1.2 million households - are choosing to move to communities designed to meet their needs, ... Read More

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  Federal Housing Finance Agency Reports Mortgage Interest Rates

  Posted by PRESS ROOM 04/28/09 2:55 PM

  (WASHINGTON, D.C.) -- 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 2 basis points to 5.05 percent in March. Read More

• U.S. Census Bureau Releases New Residential Sales in March 2009

  Posted by PRESS ROOM 04/28/09 2:49 PM

  (WASHINGTON, D.C.) -- Sales of new one-family houses in March 2009 were at a seasonally adjusted annual rate of 356,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. Read More

• STR Global Releases Hotel Performance Results for Americas, Asia/Pacific, Europe & Middle East/Africa for March 2009

  Posted by PRESS ROOM 04/28/09 11:12 AM

  (LONDON & HENDERSONVILLE, TN) -- The Americas region reported declines in all three key performance metrics when reported in U.S. dollars for March 2009, according to data compiled by STR and STR Global. Read More

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  Pace of Decline in Residential Real Estate Prices Slowed in February According to the S&P/Case-Shiller Home Prices Indices

  Posted by PRESS ROOM 04/28/09 11:00 AM

  (NEW YORK, NY) -- Data through February 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, shows continued broad based declines in ... Read More

• California Association of Realtors Reports March Home Sales Increased 63.8%, Median Home Prices Declined 39%

  Posted by PRESS ROOM 04/27/09 12:32 PM

  (LOS ANGELES, CA) -- Home sales increased 63.8 percent in March in California compared with the same period a year ago, while the median price of an existing home declined 39 percent, the California Association of Realtors (C.A.R.) reported today. Read More

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  New-Homes Inventory Continues Shrinking In March

  Posted by PRESS ROOM 04/27/09 11:57 AM

  (WASHINGTON, DC) - The number of newly built, single-family homes on the market declined for a 23rd consecutive month in March as builders focused on winnowing down their inventories of unsold units, Read More

• Four Points by Sheraton Voted the Best Mid-Range Hotel Brand in Greater China

  Posted by PRESS ROOM 04/27/09 11:47 AM

  (SHANGHAI, CHINA) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announces Four Points by Sheraton has been voted unanimously by the readers of TTG China, TTG Asia, TTG-BTmice China and TTGmice as the Best Mid Range Hotel Brand in Greater China at the recent TTG China Travel Awards 2009. Read More

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  STR Reports U.S. Hotel Performance for March 2009

  Posted by PRESS ROOM 04/24/09 11:01 AM

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

• Long-Term Rates Now Lower Than Short-Term

  Posted by PRESS ROOM 04/23/09 3:54 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 4.80 percent with an average 0.7 point for the week ending April 23, 2009, down from last week when it averaged 4.82 percent. Read More

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  Florida's Existing Home, Condo Sales Rise in March 2009

  Posted by PRESS ROOM 04/23/09 3:06 PM

  (ORLANDO, FL) -- Florida's existing home sales increased in March, making it the seventh month in a row that sales activity demonstrated gains in the year-to-year comparison, ... Read More

• First-Time Home Buyers Who Want New Construction, Tax Credit Must Act Now

  Posted by PRESS ROOM 04/22/09 3:57 PM

  (WASHINGTON, DC) -- The National Association of Home Builders (NAHB) is urging first-time home buyers who want to build a new home and also take advantage of the $8,000 first-time home buyer tax credit to act immediately. Read More

• Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 04/22/09 10:06 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 17, 2009. The Market Composite Index, a measure of mortgage loan application volume, Read More

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  FHFA Expands Reporting On Homeowner Assistance

  Posted by PRESS ROOM 04/21/09 3:14 PM

  (WASHINGTON, D.C.) -- Federal Housing Finance Agency (FHFA) Director James B. Lockhart submitted to Congress FHFA's latest report as a Federal Property Manager (FPM) detailing actions taken to prevent unnecessary foreclosures. Read More

• Fannie Mae Board Appoints Michael J. Williams President & CEO

  Posted by PRESS ROOM 04/21/09 10:57 AM

  (WASHINGTON, D.C.) -- Fannie Mae (FNM/NYSE) today announced that the company's Board of Directors has appointed Michael J. Williams President and Chief Executive Officer and a board director. Read More

• Bank of America and Wells Fargo Were Top U.S. Commercial/Multifamily Originators in 2008

  Posted by PRESS ROOM 04/21/09 10:48 AM

  (WASHINGTON, D.C.) -- Bank of America and Wells Fargo were the top commercial/multifamily originators in 2008, according to a set of listings released today by the Mortgage Bankers Association (MBA). Read More

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  Single-Family Housing Starts Unchanged In March

  Posted by PRESS ROOM 04/16/09 2:16 PM

  (WASHINGTON, D.C.) -- Characteristic volatility in the multifamily sector pushed nationwide housing starts down 10.8 percent in March as production of single-family homes remained unchanged, according to numbers released today by the U.S. Commerce Department. Read More

• Most Mortgage Rates Recede This Week

  Posted by PRESS ROOM 04/16/09 2:00 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 4.82 percent with an average 0.6 point for the week ending April 16, 2009, down from last week when it averaged 4.87 percent. Read More

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  Home Builder Confidence Posts Biggest Gain In Five Years

  Posted by PRESS ROOM 04/15/09 2:01 PM

  (WASHINGTON, D.C.) -- Builder confidence in the market for newly built, single-family homes rose five points in April to the highest level since October 2008, according to the latest National Association of Home Builders/Wells Fargo, ... Read More

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  Mortgage Applications Decline in Latest MBA Weekly Survey

  Posted by PRESS ROOM 04/15/09 10:53 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 10, 2009. Read More

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  Orlando Home Sales Continue To Rise As Housing Affordability Hits Record High

  Posted by PRESS ROOM 04/14/09 12:54 PM

  (ORLANDO, FL) -- Orlando area home sales have again experienced an increase in activity, with members of the Orlando Regional REALTOR Association involved in the sale of 47.59 percent more homes in March of this year ... Read More

• Home Buyers Could Miss $8,000 Opportunity

  Posted by PRESS ROOM 04/13/09 3:51 PM

  (WASHINGTON, D.C.) -- The National Association of Home Builders (NAHB) is doing everything possible to make sure that first-time home buyers--who make up more than half of American adults planning to buy a home in 2009, according to a recent Move.com survey--know they may qualify for up to an $8,000 tax credit. Read More

• Applications For Purchase And For Refinancing Up Nicely As Mortgage Rates Remain Under 5 Percent

  Posted by PRESS ROOM 04/09/09 4:01 PM

  (MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) ... Read More

• Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 04/08/09 11:49 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 3, 2009. Read More

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  With Affordability Up, Home Buyers Are Starting To Return To The Market

  Posted by PRESS ROOM 04/07/09 2:32 PM

  (WASHINGTON, D.C.) -- Thanks to record low mortgage rates and declining home prices, 55 million families - or half of all U.S. households -- can afford today's $200,000 median-priced new home, according to figures released by the National Association of Home Builders Read More

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  Le Meridien Proudly Unveiled First Night Bangkok; "Destination Asia, An Active Discovery"

  Posted by PRESS ROOM 04/07/09 11:22 AM

  (BANGKOK, Thailand) - Le Méridien unveiled its Newest Hotels in Bangkok, Chiang Mai and Chiang Rai, and Celebrated the Brand's Growth in Asia Pacific and the Transformation into a Leading-edge Lifestyle Brand. Read More

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  UK's Second Staybridge Suites Opens In Newcastle

  Posted by PRESS ROOM 04/06/09 10:30 AM

  (NEWCASTLE, U.K.) -- Today marks the opening of Staybridge Suites Newcastle, IHG's (InterContinental Hotels Group) second extended-stay property in the UK. Bridging the gap between conventional hotels and serviced apartments, ... Read More

• Mortgage Rates Fall Again This Week, Hitting Another Record-Breaking Low

  Posted by PRESS ROOM 04/02/09 4:38 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 4.78 percent with an average 0.7 point for the week ending April 2, 2009, ... Read More

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  California Association of Realtors launches Mortgage Protection Program for first-time home buyers

  Posted by PRESS ROOM 04/02/09 4:07 PM

  (LOS ANGELES, C.A.) -- The California Association of Realtors (C.A.R.) today launched the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP) for first-time home buyers. Read More

• Qualified Home Buyers Can Choose When to Claim Tax Credit

  Posted by PRESS ROOM 04/02/09 3:53 PM

  (WASHINGTON, D.C.) -- With the deadline for filing federal tax returns fast approaching, the National Association of Home Builders (NAHB) has made information available for qualified home buyers about how and when to claim the $8,000 first-time home buyer tax credit. Read More

• Strong Refinance Activity Continues Unabated in Latest MBA Weekly Survey

  Posted by PRESS ROOM 04/01/09 11:12 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 27, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 1194.4, an increase of 3.0 percent on a seasonally adjusted basis from 1159.4 one week earlier. Read More

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  Lodging Econometrics Releases Q4 2008 Report for the Global Hotel Construction Pipeline

  Posted by PRESS ROOM 03/31/09 4:00 PM

  (PORTSMOUTH, NH) -- Except for a few countries, Construction Pipeline totals worldwide peaked for the cycle by Q2 2008. Sensing an economic slowdown and an impending financial crisis, ... Read More

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  The New Year Didn't Change the Downward Spiral of Residential Real Estate Prices According to the S&P/Case-Shiller Home Prices Indices

  Posted by PRESS ROOM 03/31/09 9:47 AM

  (NEW YORK, NY) -- Data through January 2009, released today by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, shows ... Read More

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  InterContinental Hotels & Resorts Launch Okinawa's First Luxury Resorts

  Posted by PRESS ROOM 03/27/09 6:00 PM

  (SINGAPORE) -- InterContinental Hotels Group Asia Pacific today announced the launch of two new co-branded resorts in Okinawa, Japan ... Read More

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  STR Global Releases Worldwide Hotel Performance Results for February

  Posted by PRESS ROOM 03/27/09 10:40 AM

  (LONDON, UK & HENDERSONVILLE, TN) -- The Americas region reported declines in all three key performance metrics when reported in U.S. dollars for February 2009, according to data compiled by STR and STR Global. Read More

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  Another Record Low Set For Long-Term Mortgage Rates

  Posted by PRESS ROOM 03/26/09 2:22 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 4.85 percent with an average 0.7 point for the week ending March 26, 2009, ... Read More

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  STR Reports U.S. Hotel Performance Down In February

  Posted by PRESS ROOM 03/26/09 11:25 AM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in three key performance measurements during the month of February, according to data from STR. In year-over-year measurements, the industry's occupancy fell 10.1 percent to end the month at 53.2 percent. Average daily rate dropped 7.8 percent to finish ... Read More

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  California Association of Realtors Reports February Home Sales Increased 83 Percent; Median Home Price Declined 40.8 Percent

  Posted by PRESS ROOM 03/25/09 12:56 PM

  (LOS ANGELES, CA) (March 25) -- Home sales increased 83 percent in February in California compared with the same period a year ago, while the median price of an existing home declined 40.8 percent, the California Association of Realtors (C.A.R.) reported today. Read More

• Federal Reserve's Announcement Spurs Refinance Activity in Latest MBA Weekly Survey

  Posted by PRESS ROOM 03/25/09 11:11 AM

  (WASHINGTON, D.C.) - The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 20, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 1159.4, an increase of 32.2 percent on a seasonally adjusted basis from 876.9 one week earlier. Read More

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  U.S. Monthly House Price Index Estimates 1.7 Percent Price Increase From December To January

  Posted by PRESS ROOM 03/24/09 4:51 PM

  (WASHINGTON, D.C.) -- U.S. home prices rose 1.7 percent on a seasonally-adjusted basis from December to January, according to the Federal Housing Finance Agency's monthly House Price Index. December's previously reported 0.1 percent increase was revised to a 0.2 percent decline. For the 12 months ... Read More

• MBA Calls for Uniform National Regulation of Mortgage Lending

  Posted by PRESS ROOM 03/24/09 3:54 PM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) sent a letter today to the Chairmen and Ranking Members of the House Financial Services and Senate Banking Committees calling for legislation that would establish a tough, new federal regulatory framework for mortgage lending to protect borrowers nationwide. Read More

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  MBA Boosts Originations Forecast By Over $800 Billion, 2009 Could Be Fourth Highest On Record

  Posted by PRESS ROOM 03/24/09 12:58 PM

  (WASHINGTON, DC) -- The Mortgage Bankers Association today increased its forecast of mortgage originations in 2009 by over $800 billion. MBA now expects originations to total $2.78 trillion, which would make 2009 the fourth highest originations year on record, behind only 2002, 2003 and 2005. Read More

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  Air Carriers' Grim Prospects - Deep Recession, Bigger Losses

  Posted by PRESS ROOM 03/24/09 11:27 AM

  (GENEVA, SWITZERLAND) -- The International Air Transport Association (IATA) announced a revised outlook for the global air transport industry with losses of US $4.7 billion in 2009. This is significantly worse than IATA's December forecast for a US $2.5 billion loss in 2009, reflecting the rapid deterioration of the global economic conditions. Read More

• Florida's Existing Home, Condo Sales Rise in February 2009

  Posted by PRESS ROOM 03/23/09 12:43 PM

  (ORLANDO, FL) -- Florida's existing home sales rose in February, making it the sixth consecutive month that sales activity showed increases in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR). Read More

• Bond Yields Pull Long-Term Mortgage Rates Down To Near Record Lows This Week

  Posted by PRESS ROOM 03/19/09 4:54 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 4.98 percent with an average 0.7 point for the week ending March 19, 2009, down from last week when it averaged 5.03 percent. Read More

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  Administration Launches New Consumer Website for Responsible Homeowners Seeking Relief

  Posted by PRESS ROOM 03/19/09 12:08 PM

  (WASHINGTON, D.C.) -- The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today launched a new website (http://makinghomeaffordable.gov) for consumers seeking information about the Obama Administration's Making Home Affordable ... Read More

• Fannie Mae Refinancing Volume Jumps to $41 Billion in February

  Posted by PRESS ROOM 03/19/09 1:13 AM

  (WASHINGTON, D.C.) -- Fannie Mae (NYSE/FNM) announced on Wednesday that the company's refinancing volume jumped to more than $41 billion in February, nearly three times the refinancing volume the company experienced during the month of January and the largest refinancing volume in nearly a year. Read More

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  China's economy holding up well despite major hit from global financial crisis, says World Bank

  Posted by PRESS ROOM 03/18/09 10:13 PM

  (BEIJING, CHINA) -- While China's real economy has been hit hard by the global crisis, it is still holding up, according to the World Bank's latest China Quarterly Update released yesterday. Read More

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  KidZania Readies for Opening at Dubai Mall; Offering Role-play Edu-tainment for Children

  Posted by PRESS ROOM 03/18/09 2:06 PM

  (DUBAI, U.A.E.) -- Children can soon experience their ambition to become anything from pilots to fashion models to doctors or bankers, Read More

• Low Rates Boost Refinance Activity in Latest MBA Weekly Survey

  Posted by PRESS ROOM 03/18/09 10:48 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 13, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 876.9, an increase of 21.2 percent on a seasonally adjusted basis from 723.4 one week earlier. Read More

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  Housing Starts Regain Some Ground In February

  Posted by PRESS ROOM 03/17/09 5:04 PM

  (WASHINGTON, D.C.) -- Nationwide housing starts turned upward for the first time in eight months this February, posting a 22.2 percent gain that was due primarily to a big bump on the often-volatile multifamily side, according to numbers released from the U.S. Commerce Department today. "While welcome news, this gain only reflects a modest rebound from January, which was the worst month in history for new-home production," said NAHB Chief Economist David Crowe. Read More

• Builder Sentiment Unchanged In March

  Posted by PRESS ROOM 03/16/09 7:22 PM

  (WASHINGTON, D.C.) -- Builder confidence in the market for newly built single-family homes remained unchanged in March as economic woes continued to take their toll on potential buyers, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. Read More

• Mortgage Rates Fall Back A Bit This Week

  Posted by PRESS ROOM 03/12/09 4:19 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 March 12, 2009, down from last week when it averaged 5.15 percent. Read More

• Credit Markets and Economy Add Pressure to Commercial Mortgage Performance

  Posted by PRESS ROOM 03/12/09 10:48 AM

  (WASHINGTON, D.C.) -- The weakening economy and continued credit crunch contributed to increases in commercial/multifamily mortgage delinquencies during the fourth quarter of 2008, according to the Commercial/Multifamily Delinquency Report from the Mortgage Bankers Association (MBA). Read More

• Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 03/11/09 2:07 PM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 6, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 723.4, an increase of 11.3 percent on a seasonally adjusted basis from 649.7 one week earlier. Read More

• Bond Yields Push Mortgage Rates Up In Latest Freddie Mac Survey

  Posted by PRESS ROOM 03/05/09 4:57 PM

  (MCLEAN, VA) -- Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.15 percent with an average 0.7 point for the week ending March 5, 2009, ... Read More

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  Delinquencies Continue to Climb in Latest MBA National Delinquency Survey - Job Losses Remain a Driving Factor

  Posted by PRESS ROOM 03/05/09 2:42 PM

  (WASHINGTON, D.C.) -- The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 7.88 percent of all loans outstanding as of the end of the fourth quarter of 2008, ... Read More

• Mortgage Applications Decrease in Latest MBA Weekly Survey

  Posted by PRESS ROOM 03/04/09 1:28 PM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 27, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 649.7, a decrease of 12.6 percent on a seasonally adjusted basis Read More

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  Four Points By Sheraton Kuching Opens Doors To Malaysia Travelers

  Posted by PRESS ROOM 03/04/09 9:25 AM

  (KUCHING, MALAYSIA) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced the opening of Four Points by Sheraton Kuching, the first new international hotel to open in Kuching, Malaysia in almost two decades. Owned by Global Ulpine Sdn. Bhd., ... Read More

• NAHB Chairman Joe Robson Statement On President Obama's Mortgage Interest Deduction Cut Proposal

  Posted by PRESS ROOM 03/02/09 7:53 PM

  (WASHINGTON, D.C.) -- Joe Robson, chairman of the National Association of Home Builders (NAHB), today issued the following statement on President Obama's proposal to reduce the value of the mortgage interest and real estate tax deductions for home buyers and home owners in order to pay for an expanded health care initiative: Read More

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  President Obama's Housing Recovery Plan Deserves a Chance to Succeed - and it Might, Says Leading Realtor Roger Soderstrom

  Posted by PRESS ROOM 03/02/09 5:05 PM

  (ORLANDO, FL) -- President Obama's recently announced housing recovery plan may succeed in stabilizing the U.S. housing market and re-energizing the home building industry, says one of Central Florida's leading real estate analysts. Read More

• Florida Realtors Applaud New Tax Credit, Housing Aid

  Posted by PRESS ROOM 03/02/09 4:47 PM

  (ORLANDO, FL) -- An $8,000 tax credit for first-time homebuyers is a step in the right direction toward revitalizing Florida's housing market and stimulating the state's economy, says Cynthia Shelton, 2009 president of the Florida Association of Realtors® (FAR). Read More

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  The St. Regis Bali Resort Hosted Grand Opening Celebration

  Posted by PRESS ROOM 03/02/09 12:02 PM

  (BALI, INDONISIA) -- March 2nd 2009 -- The St. Regis Bali Resort celebrated its grand opening on February 28, 2009, with an extraordinary evening that included an exclusive performance by international artist and top U.K. jazz performer, Jamie Cullum. Read More

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  California Association of Realtors Reports Home Sales Increased 100.8 %, Median Home Price Declined of 40.5 % in January

  Posted by PRESS ROOM 02/26/09 1:56 PM

  (LOS ANGELES, CA) -- Home sales increased 100.8 percent in January in California compared with the same period a year ago, ... Read More

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  U.S. Commerce Department Releases New Residential Sales Data for January 2009

  Posted by PRESS ROOM 02/26/09 11:37 AM

  (WASHINGTON, D.C.) -- Sales of new one-family houses in January 2009 were at a seasonally adjusted annual rate of 309,000, 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 Rise in January 2009

  Posted by PRESS ROOM 02/25/09 1:41 PM

  (ORLANDO, FL) -- Florida's existing home sales rose in January, making it the fifth month in a row that sales activity showed increases in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). Read More

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  Smith Travel Research Reports U.S. Hotel Performance for January 2009

  Posted by PRESS ROOM 02/25/09 11:03 AM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in the three key performance measurements during the month of January, according to data from STR. Read More

• Mortgage Applications Decrease in Latest MBA Weekly Survey

  Posted by PRESS ROOM 02/25/09 10:51 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 20, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 743.5, a decrease of 15.1 percent on a seasonally adjusted basis from 875.3 one week earlier. Read More

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  Nationally, Home Price Declines Closed Out 2008 with Record Lows According to the S&P/Case-Shiller Home Prices Indices

  Posted by PRESS ROOM 02/24/09 10:20 AM

  (NEW YORK, NY) -- Data through December 2008, 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 prices ... Read More

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  Housing Affordability Surges At Year-End 2008

  Posted by PRESS ROOM 02/23/09 2:26 PM

  (WASHINGTON, DC) -- Nationwide housing affordability surged at year-end 2008 to its highest level in at least five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released today. Read More

• Continuing Slow Economic Signals See Mortgage Rates Fall For All Products This Week

  Posted by PRESS ROOM 02/19/09 4:14 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 5.04 percent with an average 0.7 point for the week ending February 19, 2009, down from last week when it averaged 5.16 percent. Read More

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  Housing Starts Plummet In January

  Posted by PRESS ROOM 02/19/09 9:35 AM

  (WASHINGTON, DC) -- Continuing an uninterrupted free-fall, U.S. housing starts and permits fell for a seventh consecutive month in January, according to U.S. Commerce Department figures reported today. Read More

• C.A.R. Reports Entry-Level Housing Affordability Increases to 59 Percent

  Posted by PRESS ROOM 02/18/09 12:36 PM

  (LOS ANGELES, CA) -- The percentage of households that could afford to buy an entry-level home in California stood at 59 percent in the fourth quarter of 2008, compared with 33 percent for the same period a year ago, Read More

• Builder Sentiment Remains At Historic Lows In Feb.

  Posted by PRESS ROOM 02/17/09 2:40 PM

  (WASHINGTON, DC) -- The National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today, held in the single digits for a fourth consecutive month in February. Read More

• Fannie Mae Suspends Foreclosure Sales Pending Administration Announcement

  Posted by PRESS ROOM 02/14/09 9:17 PM

  (WASHINGTON, DC) -- Fannie Mae (FNM/NYSE) today announced it is suspending all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration's national foreclosure prevention and loan modification program. Read More

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  Florida's Existing Home, Condo Sales Rise in 4Q 2008

  Posted by PRESS ROOM 02/12/09 2:49 PM

  (ORLANDO, FL) -- Sales of existing single-family homes in Florida rose 13 percent in fourth quarter 2008 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors® (FAR). Read More

• Lower Mortgage Rates Translate Into Large Volume Of Refinancing

  Posted by PRESS ROOM 02/12/09 12:49 PM

  (News Source: Freddie Mac)(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 5.16 percent with an average 0.7 point for the week ending February... Read More

• Builder Confidence in Multifamily Market Remains Low

  Posted by PRESS ROOM 02/11/09 1:01 PM

  (WASHINGTON, DC)--The deepening recession and ongoing credit crunch continue to drag down builder confidence in the multifamily housing market, according to the latest results of the Multifamily Rental Market Index (MRMI) and Multifamily Condo Market Index (MCMI), released today by the National Association of Home Builders (NAHB). Read More

• Two Out of Three Americans Support $15,000 Home Buyer Tax Credit, New Poll Finds

  Posted by PRESS ROOM 02/09/09 5:10 PM

  (WASHINGTON, DC)--Two-thirds of Americans support a $15,000 home buyer tax credit now being considered by Congress as part of its economic stimulus package and believe it will be effective in stimulating home sales, according to results from a new nationwide survey. Read More

• Mortgage Rates Climb, But Still Remain Very Affordable

  Posted by PRESS ROOM 02/05/09 2:40 PM

  (News Source: Freddie Mac)(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 0.8 point for the week ending February... Read More

• Economic Woes Freeze The Remodeling Market

  Posted by PRESS ROOM 02/05/09 2:35 PM

  (News Source: National Association of Home Builders)(WASHINGTON, D.C.) Feb. 5 -- The residential remodeling market declined further during the final quarter of 2008, according to the latest National Association of Home Builders' (NAHB) Remodeling Market Index (RMI). The current market... Read More

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  Mortgage Applications Increase in Latest MBA Weekly Survey

  Posted by PRESS ROOM 02/05/09 12:59 PM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 30, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 795.4, an increase of 8.6 percent on a seasonally adjusted basis from 732.1 one week earlier. Read More

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  STR Global Reports On Daily Figures For 2008

  Posted by PRESS ROOM 02/02/09 10:31 AM

  (LONDON, ENGLAND) -- STR Global gave its first review of the international hotel market for 2008 in a presentation by James Chappell, Managing Director, to the audience of owners, developers, asset managers and consultants at an event held by real estate advisors Cushman & Wakefield in London last month. Read More

• Freddie Mac Releases 25th Annual Arm Survey Results

  Posted by PRESS ROOM 01/30/09 5:28 PM

  (MCLEAN, VA) - Freddie Mac today released the results of its 25th Annual Adjustable-Rate Mortgage (ARM) Survey of prime loans. Read More

• American Tourism to Egypt Increases

  Posted by PRESS ROOM 01/30/09 4:47 PM

  (CAIRO, EGYPT)--American Tourism to Egypt showed a dramatic increase of arrivals in 2008 over the previous year according to an announcement made by the Hon. Zoheir Garranah, Egypt's Minister of Tourism. "We had 319,000 thousand visitors from the US last year, representing a 17% increase." Read More

• Mortgage Rates Hold Steady According To Freddie Mac's Weekly Survey

  Posted by PRESS ROOM 01/29/09 2:10 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 5.10 percent with an average 0.7 point for the week ending January 29, 2009, down... Read More

• Mortgage Applications Fall In Latest MBA Weekly Survey

  Posted by PRESS ROOM 01/28/09 9:16 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 23, 2009. . Read More

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  California Association of Realtors reports sales increased 84.9%; median home price fell 41.5% in December

  Posted by PRESS ROOM 01/27/09 3:13 PM

  (LOS ANGELES, CA) -- Home sales increased 84.9 percent in December in California compared with the same period a year ago, while the median price of an existing home fell 41.5 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. Read More

• Florida's Existing Housing Market Reflects Mortgage, Economic Issues at Year End 2008

  Posted by PRESS ROOM 01/26/09 4:48 PM

  (ORLANDO, FL) -- Florida's housing market mirrored the national trend in 2008, as mortgage industry troubles, unsettled financial markets, tightened credit and other economic issues impacted sales and prices. Read More

• Florida's Existing Home, Condo Sales Rise in December 2008

  Posted by PRESS ROOM 01/26/09 1:43 PM

  (ORLANDO, FL) -- Florida's existing home sales rose in December, making it the fourth consecutive month that sales activity demonstrated gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR). December's statewide sales also increased over November's figures in both the existing home and existing condo markets. Read More

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  Inability to Sell Existing Homes and Concerns About Employment and Economy Keeping Buyers Out of the Market

  Posted by PRESS ROOM 01/23/09 1:53 PM

  (LAS VEGAS, NV) -- Prospective home buyers are staying out of the market primarily because they cannot sell their existing homes and because of concerns about employment and the economy, according to a recent survey conducted by the National Association of Home Builders (NAHB). Read More

• Long-Term Mortgage Rates Rise This Week, Reversing 11-Week Trend

  Posted by PRESS ROOM 01/22/09 7:55 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 5.12 percent with an average 0.7 point for the week ending January 22, 2009, up from last week when it averaged 4.96 percent. Last year at this time, the 30-year FRM averaged 5.48 percent. Read More

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  Housing Starts Continue to Plummet, Hit Record Lows in December

  Posted by PRESS ROOM 01/22/09 4:13 PM

  (LAS VEGAS, NV) -- Indicating a continuing free-fall in the housing market, production of new single-family homes and permit issuance declined by double digits in December, falling to their lowest levels on record for the month, according to U.S. Commerce Department figures released today. In addition, total starts and single-family starts fell to record annual lows in 2008. Read More

• Mortgage Applications Decrease in Latest MBA Weekly Survey

  Posted by PRESS ROOM 01/22/09 11:17 AM

  (WASHINGTON, D.C.) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 16, 2009. Read More

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  New Residential Construction In Dec. 2008

  Posted by PRESS ROOM 01/22/09 9:33 AM

  BUILDING PERMITS -- Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 549,000, according to The U.S. Census Bureau and the Department of Housing and Urban Development Read More

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  Builder Confidence Edges Down Further in January

  Posted by PRESS ROOM 01/21/09 3:20 PM

  (LAS VEGAS, NV) -- Concerns about the faltering economy and reluctant home buyers pushed builder confidence in the market for newly built single-family homes down further in January, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Read More

• IATA reiterates its environmental commitment even in times of crisis

  Posted by PRESS ROOM 01/16/09 11:50 AM

  (ROME, Italy) -- The International Air Transport Association (IATA) highlighted aviation's commitment to its environmental responsibility at the inauguration of its aviation and environment display at Rome's Fiumicino Airport. Read More

• IATA Welcomes U.K. Government Decision on Third Runway

  Posted by PRESS ROOM 01/16/09 11:44 AM

  (Geneva, UK) -- Following the announcement of the U.K. Government decision to add a third runway at London Heathrow, International Air Transport Association Director General and CEO Giovanni Bisignani issued a statement. Read More

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  STR Reports U.S. Hotel Performance for the Week Ending 10 January 2009

  Posted by PRESS ROOM 01/16/09 9:00 AM

  (HENDERSONVILLE, TN) -- The U.S. hotel industry experienced declines in all three key performance measurements, including double-digit drops in occupancy and revenue per available room, during the week of 4-10 January 2009, according to data from STR. Read More

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  Slow Economy and Gov't Actions Lead to 11 Weeks of Lower 30-Year Fixed-Rates

  Posted by PRESS ROOM 01/15/09 10:54 PM

  (MCLEAN, VA) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® in which the 30-year fixed-rate mortgage (FRM) averaged 4.96 percent with an average 0.7 point for the week ending January 15, 2009, down from last week when it averaged 5.01 percent. Read More

• Record Low Mortgage Rates Boost Refinance Activity in Latest MBA Weekly Survey

  Posted by PRESS ROOM 01/15/09 2:19 PM

  Washington, DC -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 9, 2009. Read More

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  Builders Testify Before Congress On Use Of TARP Funds

  Posted by PRESS ROOM 01/14/09 9:00 AM

  Washington, DC -- As Congress considers releasing the second half of the Treasury's $700 billion Troubled Asset Relief Program (TARP), the National Association of Home Builders (NAHB) today urged lawmakers to use a portion of the funds to stem the rising tide of foreclosures and increase the flow of credit for housing production. Read More

• Fannie Mae Announces National REO Rental Policy

  Posted by PRESS ROOM 01/14/09 9:00 AM

  Washington, DC -- Fannie Mae (FNM/NYSE) today announced the establishment of a new National Real Estate Owned (REO) Rental Policy that will allow qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes. Read More

• Fannie Mae Extends Foreclosure Sale and Eviction Suspension

  Posted by PRESS ROOM 01/08/09 9:42 PM

  (WASHINGTON, DC) -- Fannie Mae (FNM/NYSE) today announced that it would extend the suspension of foreclosure sales and evictions from single-family properties through January 31, 2009. Read More

• Long-Term Rates Fall For Tenth Consecutive Week Setting Yet Another New Low

  Posted by PRESS ROOM 01/08/09 6:46 PM

  (News Source: Freddie Mac)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 5.01 percent with an average 0.6 point for the week ending January... Read More

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  Builders Converge On Capitol Hill To Urge Housing Stimulus

  Posted by PRESS ROOM 01/08/09 6:12 PM

  (Washington DC) -- Less than 24 hours after members of the 111th Congress were sworn into office, the National Association of Home Builders (NAHB) launched an all-out effort to make housing a centerpiece of the massive economic stimulus package that lawmakers are expected to complete by mid-February. Read More

• Treasury Provides TARP Funds to Local Banks

  Posted by PRESS ROOM 01/06/09 12:23 AM

  (News Source: U.S. Treasury Dept.)Washington, DC - The U.S. Treasury Department announced details this week of a $15 billion investment in 7 banks made through its Capital Purchase Program. Treasury created the Capital Purchase Program, a part of the Troubled... Read More

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  A Recap of 2008 and Outlook for 2009

  Posted by PRESS ROOM 01/06/09 12:00 AM

  As 2008 draws to a close, we sat down for our quarterly conversation with Massey Knakal Chairman, Robert Knakal to discuss his views on the economy the implications for our local NYC building sales market. Read More

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  Stirling Sotheby's, Home Builders Association of Orlando Team up for International New Homes Auction Event

  Posted by PRESS ROOM 01/06/09 12:00 AM

  (News Source: SSIR & HBA) Orlando, FL -- Stirling Sotheby's International Realty and the Home Builders Association of Metro Orlando are teaming up for a first-ever "2008 Builder Inventory Close-Out International Auction" that will feature 36 new homes built by... Read More

• Long-Term Rates Fall For Eighth Consecutive Week Setting Another New Low

  Posted by PRESS ROOM 12/24/08 10:30 AM

  (News Source: Freddie Mac)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 0.8 point for the week ending December... Read More

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  Florida's Existing Home Sales Rise in November 2008

  Posted by PRESS ROOM 12/24/08 10:30 AM

  (ORLANDO, FL) -- For the third month in a row, Florida's existing home sales rose in November, with Florida Realtors® reporting a 4 percent increase in activity in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR)...In September and October, Florida Realtors reported higher statewide existing home and existing condo sales compared to the year-ago levels. Read More

• Treasury Provides TARP Funds to Local Banks

  Posted by PRESS ROOM 12/23/08 8:57 PM

  (News Source: US Treasury)Washington, DC -- The U.S. Treasury Department announced today details of a $2.8 billion investment in 49 banks made on Friday, December 19 through its Capital Purchase Program.  Treasury also closed $1.9 billion in transactions with 43... Read More

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  New-Home Sales Continue Downward In November

  Posted by PRESS ROOM 12/23/08 5:22 PM

  (News Source: National Association of Home Builders)WASHINGTON, DC -- Sales of newly built single-family homes declined 2.9 percent in November to a seasonally adjusted annual rate of 407,000 units, the U.S. Commerce Department reported today. This was the slowest sales... Read More

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  Decline In Housing Production Accelerates In November

  Posted by PRESS ROOM 12/19/08 7:22 PM

  (News Source: National Association of Home Builders)WASHINGTON, DC -- Indicating that the ongoing decline in housing and the economy is accelerating, starts and permits for new housing construction fell by double digits to new record lows in November, according to... Read More

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  Home Builders Support FDIC Foreclosure Relief Plan

  Posted by PRESS ROOM 12/19/08 7:12 PM

  (News Source: National Association of Home Builders)WASHINGTON, DC -- The National Association of Home Builders (NAHB) today expressed strong support for a plan put forth by Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair to reduce foreclosures, noting that it... Read More