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News

Home Vacancies Rise as U.S. Ownership Falls to Lowest in Decade
About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade

Renter Nation
Already, in the wake of the housing bust that brought on the Great Recession, the share of U.S. households owning homes has slid steadily—from 69% at its peak in 2004 to 67.2% in this year's first quarter. And the rate is likely to fall to its 1993-94 level of 64% by 2015.

Boston Landlord Faces $85K Fine, Failed to Provide Discloser
A Boston landlord faces a penalty of $84,600 for charges by EPA that he violated federal lead paint disclosure rules at four of his apartments in Roxbury and Dorchester. These violations potentially put tenants at risk of exposure to lead hazards.

Delinquent commercial mortgages hit double digits
The commercial real estate market passed a grim milestone in June when the delinquency rate for its securitized mortgages shot up into double digits. While the tide of residential mortgages slipping into foreclosure is slowing, the latest report from commercial mortgage-backed securities (CMBS) analysis firm Trepp LLC shows the free fall in the commercial market has continued.

Landlord group critical of city
Tired of the city's aggressive enforcement of property codes, a group of Evansville landlords has banded together to improve both relations with local officials and the business practices of their colleagues.

Landlord fined for discrimination
The U.S. Department of Housing and Urban Development says an administrative law judge has ordered an Iowa landlord to pay $52,000 in damages and penalties to resolve a discrimination case.

Moody's: Commercial real estate market improving
The commercial real estate market is showing signs of improvement, according to a report issued Friday by Moody's Investors Services.

Horned Man Arrested for Allegedly Trying to Run Over Landlord
TULSA, Okla. Look out for this horned guy and his 1996 Ford Windstar minivan. Police say he tried to run down his female landlord Tuesday evening after an altercation.  No, not this angel!

Tenant's pit bull attacks landlord
She claims it was all a set up to hurt her. A central Kentucky landlord is recovering from wounds caused by a pit bull.

Apartment buildings lead the pack
In a commercial real estate market that's still downright scary for most types of properties, including office and industrial, there is emerging one clear winner: apartment buildings.


Jacksonville home prices continue skid
The decline in Jacksonville area home prices in May was the second worst drop of 44 major markets in the nation according to data provider CoreLogic.

Landlord lawsuit dropped — for now
A local landlord association withdrew a lawsuit seeking to stop the city’s rental-registration program, but the dispute over the plan is far from being settled. The Mahoning Valley Real Estate Investors Association agreed to have the case dismissed, but reserved the right to refile it

Commercial-Mortgage Delinquency Increase At 11-Month Low
Delinquencies on loans in commercial mortgage-backed securities, or CMBS, rose by the smallest amount in 11 months in June, according to Fitch Ratings, although it expects the rate to accelerate again.

Pen Argyl Council approved a new ordinance Tuesday requiring landlords to register their properties with the borough and have them inspected every four years.

Harlingen, Texas, July 8, 2010:  By Executive Order the mayor of San Francisco has banned soft drinks and flavored waters from all vending machines on public property.  Posting Executive Orders banning everything from drilling oil wells to fishing in the Gulf of Mexico seems to be the new Orwellian way of implementing departmentalized marshal law in these United States.  Remember the good ole days when the people actually voted for those things they wanted or rejected?

BOSTON, July 8  /PRNewswire/ -- The aggregate value of Commercial Real Estate (CRE) loans priced by DebtX that collateralize CMBS increased to 76.6% as of May 28, 2010 from 76.4% as of April 30, 2010.  Loan values were 77.6% as of May 29, 2009.Commercial Real Estate Loan Prices Rose Modestly in May

A proposed ordinance in Pawtucket would charge absentee landlords a registration fee.

REITs To Avoid In The Commercial Real Estate Storm

While a residential housing dip might be brewing as I type (See "Housing Double Dip Appears To Be Underway"), there have also been concerns for some time about commercial real estate being the "second shoe to drop".










Announcments

Attention Duval County Real Estate Investors!
The Jacksonville City Council will convene on Tuesday, July 27, 2010.  An important item on their agenda is the storm water fee.  At the moment this fee is to be collected via property tax bill.  I believe it should be included in every resident's utility bill. Read More

Register For RRP Training
This 8 hour class certifies you for five years and will teach you how to meet all EPA requirements and become an "EPA Certified Renovator."

These important practices ensure your jobs are better, cleaner and safer. EPA rules restrict class size so don't wait.  These classes fill up literally overnight.  Read More

 

Comments by Jim Stump about EPA June 18 Memo
On June 18, 2010, EPA issued a special memorandum (link). Then on June 24, 2010, Mark Henshall of EPA conducted a webinar to answer questions about it and other issues. In addition, several of our  questions have recently been answered by EPA and are now posted at the EPA Q & A site.
Read More

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