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 Many Reiterate NMHC/NAA’s Call for Balanced Housing Policy
by Howard Bell
“We certainly see the increase in rental demand in 2010, and it’s been a little more, frankly, than most apartment experts had anticipated,” said Mark Obrinsky, chief economist and vice president of research for the National Multi Housing Council. by Ray Alcorn
I suppose it is fueled by the late night infomercials touting no money down deals and using pictures of Class A apartment buildings, never saying the one describes the other, but leaving a strong impression that that is the case. Investors compete for cheap homes in hard-hit markets by Steve Bergsman
When we spoke, I asked, “Since you are coming out here anyway, could you just do a diagnostic on my two rooftop air conditioning units to make sure they are ready for the Arizona summer?” “No can do,” he apologized. “I’m just too busy.” My repairman had a contract with an investor group buying homes throughout the Phoenix metro area and was having trouble keeping up with all the repair work since the investors were on a tear, adding more and more acquisitions to a portfolio that already numbered in the hundreds. Appraisal fees, mortgage insurance waived for qualified buyers by Tom Kelly, Inman News
Fannie Mae, the biggest provider of mortgage money in the country, is attempting to reduce the size of its inventory of foreclosures, or “real estate owned” properties (REOs), by promoting special financing plans for owner-occupants, second-home owners and investors.
Experts attribute the dip in vacancy rates to private sector job growth, which in turn bolstered consumer confidence in jobs. Second quarter, 2010 saw a significant upsurge in lease-signings, with a smaller but corresponding rise in rents, a possible glimmer that the renters’ market advantage may have hit the top of the bell curve. by Bill Bronchick
 The land trust is a very powerful tool for the savvy real estate investor. A land trust is a revocable, living trust used specifically for holding title to real estate. Each property is titled in a separate trust, affording maximum privacy and protection.
Here are seven reasons to use land trust for titling property to real estate.  Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.69 percent with an average 0.7 point for the week ending June 24, 2010, down from last week when it averaged 4.75 percent.Last year at this time, the 30-year FRM averaged 5.42 percent.
(more…) Most investors want to sell properties outright. They hope for a clean, quick transaction. But for many, it’s just not happening.
 Rent-to-own sales, or lease options, are moving into the mainstream, according to Robert Eisenstein with HomeRun Homes, an online classifieds website dedicated solely to rent to own transactions.MBA Report Shows Economic Weakness Continues to Weigh on Commercial Mortgage Performance Delinquency rates continued to increase in the first quarter for all commercial/multifamily mortgage investor groups, according to the Mortgage Bankers Association’s(MBA) Commercial/Multifamily
 Delinquency Report.
The delinquency rate for loans held in CMBS is the highest since the series began in 1997. Delinquency rates for other groups remain below levels seen in the early 1990’s, some by large margins. “Weakness in the economy has continued to weigh on commercial properties, which in turn weighs on the mortgages they back,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “Economic growth, specifically in areas of jobs and consumer spending, will be key to stabilizing the commercial property and mortgage markets going forward.”   Add Super Saver to any membership for only $ 19.95! 
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WASHINGTON, DC – Reform of the housing finance system must address the specific needs of the multifamily industry and must be done in the context of rebalancing our national housing policy. That was one of the recurring themes at yesterday’s White House Conference on the Future of Housing Finance.
June vacancy rates in the largest 64 markets in the country averaged 6.6%, down from 8.2% at the end of 2009, according to MPF Research.
At least once a week, someone posts to the commercial newsgroup seeking a way to finance 100% of the acquisition cost for an income property.
Recently, when my refrigerator was on the fritz, I called my local appliance repairman, a guy who has been keeping every mechanical/electric thing in my house, including dishwasher and washing machine, running smoothly for more than a decade.
Have you tried to get financing for a second home lately? Just lost an investment property because a longtime lending source was unable to find a loan to fit your needs?
According to New York real-estate research group Reis, Inc., it may be time for landlords to exhale, as they see the first quarterly improvement in vacancies in three years, and the first uptick in rents in two.
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