The National — All Property Type Aggregate Index recorded a 1.5% price decline in the month of October. The index now stands 43.7% below the peak measured two years ago, in October 2007.
More on Moody’s/REAL Commercial Property Price Indices, December 2009
SINGLE LARGEST ONE-MONTH DECLINE – Index Stands 25.3% below April 2008 Levels; 29.5% below peak of October 2007
The Moody’s/REAL National All Property Type Aggregate Index from Real Estate Analytics, LLC, (REAL), measures 135.31 for April 2009, a decrease of 8.6% from the previous month and single largest one-month decline. The Index, which has captured price data through the end of April 2009, is now 25.3% lower than it was a year ago and 29.5% below the peak measured in October 2007. The index also indicated a 27.4% drop in prices over the past two years.
More on MOODY’S/REAL COMMERCIAL PROPERTY PRICE INDEX DECLINES 8.6% FOR APRIL
Philadelphia Premium Outlets, a $115 million retail complex, opened today in Limerick. Its 120 stores include a Neiman Marcus Last Call, the department store’s clearance business. A second phase of the outlet center now under construction will add 30 stores and 120,000 square feet to the 425,000 square feet in the first phase. The center’s developer is Chelsea Property Group, a unit of Simon Property Group Inc., Indianapolis. Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers(R), The Mills(R), community/lifestyle centers and international properties. It currently owns or has an interest in 379 properties comprising 258 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company’s website at www.simon.com.
More on USA Commercial Property more robust than Residential ?
As the sub prime mortgage debacle continues to play out across the United States, the Federal Reserve has opted to cut interest rates by another quarter percent just last week, bringing the rate down to below 5%. This cut makes all loans relatively cheaper, thereby encouraging a pantheon of economic activity to increase, hopefully in the troubled housing market. Such tactics have been used with relative success in the past, most notably in 2000 when the US economy suffered a major downturn in the wake of the dot-com collapse. This collapse triggered a recession, which took three years to completely stabilize.
More on Is The Federal Interest Rate Cut Enough to Stabilize Sub prime Mortgage Woes?
It Is True What They Say: Location, Location, Location! It is such a trite old statement; But there is a reason why sayings get old and trite. They are true!
As a new real estate investor beginning your investment career you will have dozens of decisions to make and we will be there to help you make the right ones and, while it might cost money, it might cost time; you can correct most of your missteps.
More on Real Estate Investors You Need To Know Your Neighborhoods
Nick manning, adult performer and part owner of “L A Exotique” is facing eviction from his new lingerie store, despite the fact that the rent is fully paid up. The shop — which is owned by Manning, Michelle McLaren, Rachel Roxxx, Sarah Jesse, Mikey Butders, Justin Syder and Dean Sussman, Manning’s longtime adult distribution partner — opened just three weeks ago in Encino. Manning told XBIZ that he is being sued for eviction by his landlord, Ventura-Louise Partners, and has 20 days left of the given 45 until his store is closed up. He did not specify further on what grounds he is being evicted.
The radical simplification of capital gains tax (CGT) announced in this week’s pre-Budget report means owners of buy-to-let properties and second homes are set to be big winners.
The introduction of a single 18 per cent CGT rate from April 6 could means savings in tax of thousands of pounds when these property owners come to sell and in some cases could cut their bills in half. But employee shareholders and long-term owners of farmland and other assets are alokely to be hit by the overhaul of tax on profits.
More on Buy to let market bouyed up by Capital Gains Tax Reforms
