Mortgage Rate Fall of 4% Gives Mixed Signals

November 15, 2011 / Russell Legato, Residential Property Analyst
Mortgage Rate Fall of 4% Gives Mixed Signals Second in History and Second This Year Survey reports indicate that for only the second time in history and the second time this year, mortgage rates have fallen from an even 4%, to 3.99%. This was offered by lenders countrywide on a 30 year loan, as at last Thursday. Although today’s reduced mortgage rates benefit home buyers and refinancers, it is dependent on them having substantial credit and income. This will involve a 20% down... »

In Demand Apartment Buildings Boost British Columbia Multi-family Investment

September 14, 2011 / Russell Legato, Residential Property Analyst
In Demand Apartment Buildings Boost British Columbia Multi-family Investment Investors’ robust interest in rental apartment buildings has elevated British Columbia’s multi-family investment market during the first half of 2011. These are some of the key trends noted in Avison Young’s Summer/Fall 2011 British Columbia Multi-Family Investment Report. “Vendors grew increasingly aggressive on pricing as deal and dollar volumes surged and both listed and off-market product changed hands more frequently,” real estate company Avison Young reported. During the first half of 2011, total multi-family sales... »

‘Weak Condo Prices in California’

September 14, 2011 / Russell Legato, Residential Property Analyst
‘Weak Condo Prices in California’ Condo prices in Los Angeles and San Francisco areas continue to slide, according to the August 30th release of June 2011 data for the S&P/Case-Shiller Home Price Indices. “The LA index reported an average condo price decline of 0.5 percent in June versus May and the San Francisco index fell by 0.8 percent. This is occurring during a time of anticipated seasonal strength; and the data look worse if you view the markets over the... »

Real Estate Companies Expand Apartment Community Portfolio

August 02, 2011 / Russell Legato, Residential Property Analyst
Real Estate Companies Expand Apartment Community Portfolio Phoenix Realty Group (PRG) and The Orbach Group have purchased 472 apartments in three properties at the central New Jersey towns of Neptune, South River and Long Branch. The $46.5 million purchase from AIG formed part of a larger transaction involving three additional New Jersey apartment communities sold to Vantage Properties and Angelo, Gordon & Company. All the deals closed simultaneously, with PRG and Orbach acquiring the apartment community subject to the existing long-term financing... »

Apartment Homes Groundbreaking Marks First Multifamily Residence at Cameron Village

July 29, 2011 / Russell Legato, Residential Property Analyst
Apartment Homes Groundbreaking Marks First Multifamily Residence at Cameron Village Crescent Resources, LLC has marked the beginning of Gallery at Cameron Village with a groundbreaking ceremony for the 16,000 square feet of apartment homes at Clark Avenue and Oberlin Road in Raleigh, North Carolina. The $50 million project that features 282 apartment homes will bring the first multifamily residential experience to Raleigh’s premier shopping and dining district. The first apartments are scheduled to be available in spring 2013. “Cameron Village is the ultimate shopping and... »

Property Developer Breaks Ground for Apartment Community in Florida

July 01, 2011 / Russell Legato, Residential Property Analyst
Property Developer Breaks Ground for Apartment Community in Florida An Atlanta-based property developer has broken ground on Gables 4585 Ponce, a 250-unit, 10-story, multi-family, Class A, luxury apartment community with 26,430 square feet of ground floor retail and parking space. In 2007, Gables Residential originally purchased the 2.13-acre site at the northeast corner of LeJeune Road and Ponce de Leon Boulevard. Earlier this month, an affiliate of the property developer, LG Coral, was able to avail of a $50 million construction loan from PNC... »

Condos at Foreclosed Home Building Sold Like Pancakes

April 04, 2011 / Russell Legato, Residential Property Analyst
Condos at Foreclosed Home Building Sold Like Pancakes After being repossessed by bank, luxury condos in a home building at Queen Anne Hill are now attracting the public and selling fast. The home building, 200 West Highland, which was foreclosed last fall by Bank of America — the lender, is now attracting more buyers for its unsold luxury condo units over the last few months. A new luxury condominium in Hollywood Beach Florida is also more buyers after being acquired by a new... »

Want Rental Apartments? Grab One from the 3,200 Norfolk Apartments

March 30, 2011 / Russell Legato, Residential Property Analyst
Want Rental Apartments? Grab One from the 3,200 Norfolk Apartments Constructions of rental apartments are now all over Norfolk, Virginia. According to the 2011 Real Estate Market Review from Old Dominion University, more rental apartments are proposed for the city of Norfolk than Chesapeake, Portsmouth, and Virginia Beach combined, while residential developers said that they will be spending nearly $400 million to construct about 3,200 apartment units in the city. In Santa Monica, California, affordable rental apartments are also available all over the city. According... »

Larger Apartments for Rent in Madison

March 22, 2011 / Russell Legato, Residential Property Analyst
Larger Apartments for Rent in Madison In Madison, Wisconsin, newly renovated apartments for rent will be previewed by the city leaders and the Community Development Authority. The city’s apartments for rent, which are located at Truax Park, are low-rent city housing development that are managed and owned by the Community Development Authority or CDC. Inline with public housing renovation and maintenance, the Hawaii Public Housing Authority’s executive director, Denise Wise said the state administration already given the go signal for the... »

A Retirement Community with a Recording Studio?

March 21, 2011 / Russell Legato, Residential Property Analyst
A Retirement Community with a Recording Studio? A retirement community, Fox Hill Club and Residences, is offering luxurious amenities and pampering services for people aged 60 and above who can afford living in a luxury community. According to company information, the retirement community, located in 8300 Burdette Rd, Bethesda, adjacent to Burning Tree Club, in Maryland, is said to be offering 240 luxurious condominiums in a gated community with high-end amenities. In California, another retirement neighborhood will be developed by Foursquare Foundation,... »

Condo & Apartment News

News for condominiums and apartments are mostly about recent developments and projects of this area in the United States and around the World – about luxury condos and other high-rise residential towers or buildings, which have complete amenities for a modern living and suitable for young professionals and single-families.