|
|
|
|
|
|
|
Latitude, Inc. July News
 Please enjoy Latitude's July Newsletter.
As always, please do not
hesitate to call or email us with any of your real estate needs, questions or
concerns, and we will try to keep you up to date with market news and insights.
We hope you have a wonderful Fourth of July weekend! 
Follow Rick on his blog ... and link up with him on
LinkedIn!
-Carly Barnes, marketing
|
|
Commercial Real Estate: Lagging the Economic Recovery
by
George Ratiu, NAR Economist
Economic activity maintained a
positive growth trend in the first quarter of this year, but at a
slightly slower pace. Most major components of gross domestic product
(GDP) registered advances. Employment also experienced growth during the
quarter, after seven consecutive quarters of decline. The trends were
mirrored by gains in industrial production and productivity.
And while commercial real estate is still lagging behind the
economic recovery, declines in commercial real estate fundamentals have
been slowing. Investments were down in the first quarter from the fourth
quarter of last year, but up year-over-year. Credit availability
continues to be tight, but the sources of financing are growing.
Nonetheless, the office, warehouse and retail sectors continue to
experience the delayed effects of the recession. Read more |
Deals Are On the Rise, as Capital Returns to the Market
Jun
17, 2010 10:36 AM, By Daniel Beaird, Senior Associate Editor, NREI
With
approximately $700 billion worth of loans coming due on distressed
properties over the next four years, transaction activity in commercial
real estate is picking up this year, albeit slowly, and is expected to
intensify in 2011 and 2012.
Investment capital that had been
waiting on the sidelines from mid-2008 and the first quarter of this
year is getting back into the game as confidence returns in the form of
the market's stabilizing fundamentals.Read more...
|
 May Shows a Continued Strong Pace for Existing-Home Sales
-Walt Maloney, realtor.org
Existing-home sales remained at elevated levels in May on buyer
response to the tax credit, characterized by stabilizing home prices
and historically low mortgage interest rates, according to the National
Association of Realtors®. Gains in the West and South were offset by a
decline in the Northeast; the Midwest was steady.
Existing-home
sales(1), which are completed transactions that include single-family,
townhomes, condominiums and co-ops, were at a seasonally adjusted
annual rate of 5.66 million units in May, down 2.2 percent from an
upwardly revised surge of 5.79 million units in April. May closings are
19.2 percent above the 4.75 million-unit level in May 2009; April
sales were revised to show an 8.0 percent monthly gain.
Read more..
|
 Latitude, Inc. Current Featured Opportunities
Latitude is pleased to highlight some beautiful listings! 7 W. Figueroa Street - Downtown office for SUBLEASE more info
325 Chapala Street - Downtown office for SUBLEASE more info335 N. Milpas - Retail/Office/Industrial for SUBLEASE more info38 S. La Cumbre - Dental/ Med/ Prof Office for LEASE more info 597 Avenue of the Flags - Retail/Office in Buellton - more info
|
 Foreclosure Radar Report - May 2010
-Source: wwwforeclosureradar.com
Foreclosure filings, outcomes and
inventories dropped across the board from April to May. Foreclosure
filings also declined substantially year-over-year with Notice of
Default filings down 43.3 percent and Notice of Trustee Sale filings
down 35.8 percent. The only significant increases from the prior year
were Cancellations, up 141.3 percent, Sales to 3rd Parties, typically
investors, up 75.4 percent, and Time-to-Foreclose, up 30.5 percent from
May 2009. Download May 2010 Foreclosure Radar report here
|
 More News!
Ben Stein: Real Estate Will Be Glorious Again
By
Natalie Dolce; Globe St.
Real estate will return
to its glory days, it's just a question of when. So said economist Ben
Stein to nearly 3,000 building owners and managers at the Building
Owners and Managers Association 2010 International Conference & the
Every Building Trade Show. The lawyer, columnist, author, professor and
humorist served as keynote session speaker Monday morning at the
three-day event at the Long Beach Convention Center.
"The time
will come when real estate is a glorious subject again rather than a
dismal subject," Stein assured the audience. "It always comes back." Read more.....
Where Home Prices Are Strongest Now
-Real Estate by Lisa Scherzer and Sarah Morgan ; Smartmoney.com The Case-Shiller Home Price Index, which tracks home prices in 20
cities around the country, saw a 0.8% gain from April to March, and has
risen 3.8% since April of last year. But the gains could be
short-lived, as the expiration of the federal tax credit for first-time
homebuyers takes hold over the next couple of months. Read more...
Go to www.latitude.net for more news every day!
|
 Caerus Capital Update
-Jim Turner, VP at Latitude, Inc.
We have been very busy recently with the addition of three more Caerus properties. On April 30th, we purchased our sixth property, located in Port Hueneme. After only three weeks of "rehab", we had the property back on the market for sale. The house is currently in escrow and we expect to close by August 1st. Acquisition #7 is located in the desirable north-end of Oxnard. We closed escrow on June 11th. There is approximately one more week of remodeling to do and we should have the property back on the market for sale in early July. And lastly, we are currently in escrow to purchase property #8. Escrow is going smoothly and we expect to close July 20th. Given the higher prices we are having to pay to acquire these properties, we have had to be much more conservative on the amount of improvements we make to each property. By doing so, we increase the odds that the appraisal will be close to our re-sale value and thus will provide us with our desired net profit.
|
|
|
|
|
Latitude, Inc. is a full service commercial real estate company, headquartered in Santa Barbara, on California's Central Coast. While its brokerage and development services are focused on California's Central Coast, Latitude's management and investment expertise have expanded its geographical reach with experience throughout the Western United States.
|
|
|
|
|
|
