Active Home-Building Industry Will Lead to More Demand for Warehouse Space
Strong consumer spending and the rise in housing construction activity are currently the prime factors for the incredible rebound of the U.S. industrial real estate sector, and experts say as home buying continues to increase, so will demand for warehouse space. — From NRE Online
To Buy or Not to Buy: That Is the Developer’s Question
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It’s been a good year for real estate in-town – all but two neighborhoods saw increases in average sales price.
Decatur led in-town neighborhoods in the past year in the number of homes sold, although the fastest price increases came elsewhere, according to a report this week from Adams Realtors.
There were 324 homes sold in Decatur, with an average price of $580,000 – 11 percent higher than the year before, according to the firm’s monthly intown market survey.
Decatur is seen in other reports as well as a hot ‘hood.
But that rise in Decatur prices was overshadowed by the acceleration in Hapeville and Midtown, each of which saw a jump of 38 percent in the average price of homes sold. Of course, that increase came from very different starting points.
The average price of a home sold in Hapeville last year was about $110,000. The average in Midtown was $806,000.
And when it comes to the bottom line, all of them pale next to Ansley Park, home to the highest-priced homes. The average sale last year in Ansley Park was a cool $1.25 million.
Morningside came in a solid, yet distant second with an average of $826,000 for home sales, according to the report.
Overall, the metro market has seen broad and consistent price increases,but parts of in-town have been especially strong.
The only in-town neighborhoods where the advance faltered were Inman Park, where the average sales price edged down 2 percent, and Poncey Highland, where the average slipped 9 percent last year.
But inventory – that is, the number of homes for sale – has been a point of concern for several years. And that often-limited supply of homes for sale can hold back the number of transactions, even while it supports ever-higher prices.
Ansley Park, for example, had 20 percent fewer homes sold, while that area-high average price climbed from $1.11 million to $1.25 million.
Among the roughly dozen neighborhoods that saw a drop in the number of sales were Poncey Highland where the number of units sold plunged 50 percent from the year before. Inman Park had 38 percent fewer sales.
Fuqua Development has an agreement to buy a 17-acre site next to the Atlanta Beltline’s Eastside Trail — the largest contiguous piece of land along the rapidly changing Memorial Drive corridor.
Fuqua Development, led by Jeff Fuqua and partner Heather Correa, have the Leggett & Platt Inc. building under contract, with plans to rezone property and close on the transaction by this time next year.
Details of the agreement were not available, but the site was expected to fetch at least $1.5 million…
Source: bizjournals.com
Home prices in metro Atlanta continued to grow in September, but barely, according to the latest S&P/Case-Shiller Home Price Indices.
Home prices went up 0.1 percent from August to September, but rose 6.2 percent year over year.
“The general economy appeared to slow slightly earlier in the fall, but is now showing renewed strength,” said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices. “With unemployment at 5 percent and hints of higher inflation in the CPI, most analysts expect the Federal Reserve to raise its Fed Funds target range to 25 to 50 basis points, the first increase since 2006. While this will make news, it is not likely to push mortgage rates far above the recent level of 4 percent on 30-year conventional loans. In the last year, mortgage rates have moved in a narrow range as home prices have risen; it will take much more from the Fed to slow home price gains.”
Completely renovated without sacrificing the integrity of the period, this stunning mid-century modern home lends itself to contemporary Omaha living.
Presented by Leverage Partner Nebraska Realty: bit.ly/1XlG4Cu
Source: LEVERAGE
After offering its first risk-sharing deal that featured the actual loss position on loans with loan-to-value ratios ranging from 80% to 95% earlier this year, Freddie Mac is bringing another high LTV risk-sharing deal to market.
Source: NHOusing wire
The technological revolution is happening, right now. Here at HousingWire, we see that innovation happening and feel it deserves some serious kudos. The shouting it from the rooftops kind, to be exact. It’s in that spirit that HousingWire honors the most innovative innovators who’ve innovated in the most innovative ways in the last year.
Source: NHOusing wire
Group, Inc., owner of Apartments.com, recently announced an agreement to exclusively power the apartment community listings on the websites owned and operated by News Corp subsidiary Move, Inc.—realtor.com®, Move.com, and Doorsteps.com—with advertiser content from Apartments.com and ApartmentFinder.com. The Apartments.com apartment community listing information complements realtor.com®’s listings content, which is derived from relationships with agents, brokers, […]
Source: RIS MEDIA
Freddie Mac announced late Friday that it obtained its largest insurance policy to date designed to cover much of the remaining credit risk associated with one of its Structured Agency Credit Risk transactions from earlier this year.
Source: NHOusing wire
A familiar pattern in Atlanta is to build until we bust.
The poster child for this excess in the previous cycle was the condominium market. Today, the intown apartment sector is at the greatest risk of becoming overbuilt. Market fundamentals are strong, but explosive growth in supply is cause for concern.
Haddow & Company tracks the performance of class A apartments built in the urban core since 2000 and monitors the pipeline of projects under construction and proposed. During third quarter 2015,…
Source: bizjournals.com