Sarasota Real Estate Market News

(Florida) Housing Forecast 2014: Sun and clouds

ORLANDO – At the tail end of the healthiest year for residential real estate since the Great Recession, housing economists are predicting a continued upswing in 2014.

A panel of market analysts on Tuesday told an Orlando banquet room packed with Realtors from Panama City to South Florida that they expect the industry to maintain its brisk pace well into the coming year.

Their general consensus was that home sales would climb another 10 percent next year, with appraised values rising by 5 percent and median sale prices increasing 12 percent. That would be another significant step forward for an industry now among the key drivers of the Sunshine State’s economic recovery.

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http://www.heraldtribune.com/article/20131211/ARCHIVES/312111020/-1/todayspaper?p=all&tc=pgall

December 11, 2013 Posted by | News related to Buyers, News related to Financing, News related to Investors, News related to Sellers, News related to the Market | Leave a comment

Insurance uncertainty keeps area condo prices flat…for now

Insurance proposals imperil tourism and home-sale gains

Sharp rate increases proposed for the state’s largest property insurer could threaten Florida’s flagship real estate and tourism industries just as they’re turning the corner from the downturn and the Gulf oil spill.

Coming off the strongest season for visitation and home sales since the Great Recession took hold, higher insurance premiums levied by Citizens Property Insurance Corp. could rock the two segments of the economy now leading Southwest Florida’s recovery.

Condominium associations from Englewood to Anna Maria Island are considering new caps on short-term rentals to mitigate the blow from the state-run carrier. But many businesses that depend on tourism spending worry that the loss of available rooms in the short-term rental pool will drive prices higher and push visitors to other beach destinations.

Read More HERE

May 19, 2013 Posted by | News related to Buyers, News related to Investors, News related to Sellers, News related to the Market | Leave a comment

Survey: Economic uncertainty keeps renters renting

CHICAGO – Feb. 6, 2013 – The average monthly apartment rental cost in the U.S. was $1,048 in fourth quarter 2012, up 3.8 percent from a year earlier, according to Reis. At the same time, the nation’s apartment vacancy rate continued a steady decline to 4.5 percent in the fourth quarter – its lowest level in more than a decade.

In response, Apartments.com conducted a nationwide survey of more than 1,300 renters to gain insights into their moving plans this year. In looking at the survey results, Apartments.com says a growing number of former homeowners are choosing to rent, while others make a move based on employment relocation, cost savings and apartment size.

“There is a growing trend toward previous homeowners choosing to rent after carefully considering economic factors such as affordability, employment opportunities and unaffordable homeownership expenses,” said Dick Burke, senior vice president and general manager, Apartments.com. “The fiscal cliff our country was headed toward in December seems to have motivated all renters to take a realistic approach toward budgeting for 2013.”

Top 5 reasons renters choose to rent

• Renting is a more affordable option: 22.2% (down from 26.3% in 2012)
• Flexibility: 15.7% (down from 21.2% in 2012)
• Can’t afford to keep up with homeownership expenses: 14.2% (up from 10.5% in 2012)
• Relocate for employment: 13.3% (down from 20.5% in 2012)
• Lost home due to foreclosure or divorce: 11.2% (up from 5.9% in 2012)

Reasons renters plan to move in 2013

• Relocating for employment opportunities: 15%
• Shopping for a less expensive apartment: 13.2%
• Looking for a bigger apartment: 11.2%
• Change in marital status: 10.8%
• Wanting to live in a different neighborhood: 9.8%
• Relocating for educational reasons: 6.7%
• Other family reasons: 5.2%
• Recent college grad moving to their own place: 4.6%
• Looking for a smaller apartment: 3.3%
• Wanting to live alone: 2.5%

Resources used in an apartment search

All renters surveyed had used Apartments.com, but they also reported using other online apartment listing websites (such as Craigslist), search engines and review websites.

The opinions of others seem to play a more important role in searches than in previous years. More than half of respondents said they use review websites during their apartment search, versus 32.6 percent in 2012; 45.1 percent relied on word of mouth versus 31.5 percent in 2012.

Apartment share arrangements nearly identical to 2012

• Husband/wife/significant other and/or kids: 49.6%
• Living alone: 40.3%
• Roommate(s): 10.1%

© 2013 Florida Realtors®

February 9, 2013 Posted by | News related to Investors, News related to the Market | Leave a comment

What’s behind falling housing inventories?

NEW YORK – Jan. 29, 2013 – Home prices are increasing across the country as the number of homes for-sale continues to fall. But at a time when buyer demand is picking up, why is inventory still so low?

Inventories fell to 1.82 million at the end of last year, a 21.6 percent drop from one year earlier, the National Association of Realtors® reports.

The Wall Street Journal recently highlighted several reasons behind the dropping inventories, including:

Sellers hesitant to sell: About 22 percent of homeowners with a mortgage remain underwater, owing more than their home is currently worth. These homeowners don’t tend to sell unless a life-changing event occurs because they don’t want to take a loss on the sale. CoreLogic data finds constrained inventories in areas with the highest number of underwater borrowers.

Not enough equity to trade up: Homeowners often rely on equity from their current home to make a downpayment on the next home. With fewer homeowners seeing equity, they may not have enough money to move into a pricier home – a constraint on the would-be “trade up” buyer.

Investors continue to snatch up properties: Investors still snap up properties, but they’ve changed their strategy, which also constrains inventories. Now they’re holding onto properties and turning them into rentals instead of rehabbing and flipping them for profit. The result: fewer homes on the market.

Banks slowing down foreclosures: Banks have new rules to meet with the foreclosure process, and it’s causing them to move at a slower pace. Banks also are showing a preference for short sales and loan modifications, which curbs the number of foreclosed homes on the market.

Builders doing less building: Housing starts were at record lows from 2009 through 2011, so there’s less inventory added to the market. A rebound in the new-home market has only recently started to occur.

Source: “Six Reasons Housing Inventory Keeps Declining,” The Wall Street Journal (Jan. 22, 2013)

February 9, 2013 Posted by | News related to Buyers, News related to Investors, News related to Sellers, News related to the Market | Leave a comment

Rental investors pant for next hot home market

PHOENIX, Ariz. – Jan. 22, 2013 – Major real estate investors are buying fewer homes in some hot markets while expanding in others as they race against rising prices to turn more distressed homes into rentals.

Phoenix, which has led the nation with rapid home-price gains, is among the first markets to see investors’ interest cool.

The percentage of Phoenix homes bought by investors fell to 28 percent in November after cresting at almost 36 percent in August and is now on a “clear downward” trend, says Mike Orr, real estate expert at the W.P. Carey School of Business at Arizona State University.

Investor interest also may be close to “peaking” in some California markets where prices have risen rapidly, because higher acquisition prices cut financial returns, says John Burns, CEO of Burns Real Estate Consulting.

Meanwhile, major investors are stepping up purchases elsewhere, especially in Southeastern cities such as Atlanta and Tampa. Home shoppers there are now seeing the multiple offers, bidding wars and shrinking supplies of homes for sale that occurred in Phoenix as investors swooped in.

“The Phoenix-like phenomenon has migrated to other markets,” says Sam Khater, economist for CoreLogic. It says Phoenix home prices were up 24 percent in November year-over-year, vs. 7.4 percent for the nation.

Major institutional investors are amassing a $10 billion war chest to pursue the single-family rental market, JPMorgan Chase estimated in a recent research report.

They’re betting that they can get distressed homes on the cheap, fix them up and rent them out, often to families who lost homes to foreclosure, and make money on home price appreciation in a few years.

The companies generally seek three-bedroom, two-bath homes in the $100,000 to $125,000 range that can rent for more than $1,000 a month, analysts say.

With $10 billion to spend, that would roughly equate to 80,000 homes, although the investment funds continue to raise money, says JPMorgan analyst Anthony Paolone. Nationwide, there are currently 12 million single-family rentals, most owned by mom-and-pop investors, Paolone says.

Big buying

The Blackstone Group, for one, has spent $2.5 billion since early last year buying 16,000 homes. It’s now adding 2,500 homes a month, it says. It’s believed to be the biggest player in the group, but most are private, so information is limited.

Colony Capital expects to invest up to $150 million a month this year to acquire single-family rentals. It bought 5,000 homes last year, it says.

Waypoint Homes, one of the market’s pioneers, expects to own 10,000 homes by year’s end. It started four years ago in the San Francisco Bay Area and owns 3,300 homes, says managing director Doug Brien.

Like many of the big investors, Blackstone started investing in Phoenix.

It next moved into California, then Atlanta, Tampa, Orlando, Chicago, Las Vegas and Charlotte.

Blackstone has accelerated its buying because home prices have risen faster than it expected, says Jonathan Gray, Blackstone’s head of real estate. In some markets, the window to buy before prices rise too much “is closing faster” than in others, he says.

Colony, for instance, has slowed purchases in Phoenix. Consultant Burns says Atlanta may be the hottest investor market now. Local real estate experts are seeing the impact.

Investors “are a significant force in the market right now,” says Mike Prewett, president of Southern REO Associates in Atlanta.

Prewett estimates that investors are buying 40 percent of foreclosed homes in the Atlanta area, triple the level of a year ago. Almost all foreclosures for sale draw multiple offers, often 10 or more, Prewett says.

Tampa, too, has seen an uptick, Realtors say.

A year ago, $125,000 homes in foreclosure could have been purchased “all day long,” says Brad Monroe, managing broker for Prudential Tropical Realty in Tampa. “Now, there’s 16 offers on each one of them within two days,” many from cash-paying investors.

Tampa’s inventory of homes for sale in December stood at 3.3 months, based on the pace of sales. That was about half its level of a year earlier, data from the Greater Tampa Association of Realtors show. Generally, a six-month supply is considered a balanced market between buyers and sellers.

Atlanta’s November home prices were up almost 5 percent from a year ago. Tampa posted a similar gain, CoreLogic says.

Lure of deep slumps

Institutional investors have largely circled cities that were hardest hit by the real estate downturn that started in 2006.

In Phoenix, home prices fell almost 60 percent from their pre-bust peak before they started to recover. Las Vegas posted a similar drop. Tampa dropped almost 50 percent.

The markets have more going for them than just cheap home prices. Phoenix, Tampa, Atlanta and Las Vegas – all markets where investor buyers are busy – have seen positive year-over-year job growth since July 2011. That will help drive housing demand, JPMorgan says.

The first task for investors is to buy at the right price. In many hard-hit markets, prices have bounced faster than anyone anticipated even a year ago. That’s made good buys harder to find, says Rick Sharga, executive vice president at Carrington Mortgage Holdings.

In recent months, Carrington has slowed its buying in single-family rentals, Sharga says. “As prices go up, it gets harder for investors to get the returns they’re looking for.”

In his report, analyst Paolone also warned that too many investors shopping in the same areas will drive prices up and eat into rental returns.

Burns says that’s already happening in some places. Single-family rentals that returned 10 percent annually three years ago may now be running closer to 6 percent. That’s too low for some investors, he says.

Nationwide, investors purchased 19 percent of homes in November, the National Association of Realtors says, down from 23 percent of sales in January and February of last year.

NAR economist Lawrence Yun says the percentage of homes being purchased by investors might decline more this year as regular home buyers make up more of the market, assuming a continued economic recovery.

Burns’ data show investors accounting for much higher levels of total home sales in some cities. It also shows a leveling off or decline in recent months in the share of homes bought by investors in a variety of markets, including Tucson; Oakland; Tacoma, Wash.; Minneapolis; Washington, D.C.; and Durham, N.C.

Burns also says a peak may be near for Sacramento and Riverside. Both California cities have seen home prices rise faster than the national average, CoreLogic data show.

In November, Sacramento prices were up almost 13 percent year-over-year. Riverside’s were up 10 percent.

Tight inventories will also slow investors, Burns says.

In Sacramento, the inventory of homes for sale fell to 1.6 months in December, based on the pace of sales, the California Association of Realtors says.

“These guys (investors) have bought up everything that’s worth buying in many of the hardest-hit markets,” Burns says.

The value of good timing

Even if investors slow purchases in a city, they may circle back around, says Waypoint’s Brien.

Waypoint was late to get to Phoenix, starting purchases there only last year. But as competitors have slowed buying there, Waypoint has seen “a little bit better buying opportunity,” Brien says.

He expects the same thing to happen elsewhere. Investors will pull back when prices rise too fast, then return when price gains slow, as more people list homes for sale.

“There’s a lot to buy and a lot to buy attractively,” says Justin Chang, Colony Capital principal.

While investor buyers have helped prop up prices, they’re making it tougher for regular home shoppers to compete.

Tom and Cyndi Vander Ven have been shopping for a home in Atlanta since September. The retired couple, both teachers, want to downsize.

They’ve lost out on three bids so far, even though they offered more than the asking price. Their Realtor told them investors had outbid them, Tom Vander Ven says.

They would have made more offers by now, but other homes they see listed are sold “before we can even move on them,” he says.

Copyright © 2012 USA TODAY, a division of Gannett Co. Inc., Julie Schmit

February 9, 2013 Posted by | News related to Buyers, News related to Investors, News related to the Market | Leave a comment

FHFA sells 699 Fla. REOs to investor

WASHINGTON – Sept. 11, 2012 – A controversial move to sell 699 Fannie Mae- and Freddie Mac-owned homes in bulk to an investor was closed last week, according to the Federal Housing Finance Agency (FHFA). Pacifica Companies LLC purchased the homes as part of a real estate owned (REO) pilot initiative.

Pacifica has not released details on how it will oversee the properties. Based in San Diego, the company’s website claims it has an office in Tampa, as well as Austin, Texas; Riverside, Calif.; and four cities in India.

Pacifica paid $12.3 million upfront in a joint venture agreement. It will pay an additional $49.3 million by sending Fannie Mae 90 percent of future proceeds. After that, Pacifica will collect a 20 percent management fee and pay Fannie Mae 50 percent of future proceeds. FHFA projects the total value of all payments to be $78.1 million. The total price paid by Pacifica doesn’t represent a significant discount; however, the relatively low downpayment and profit-split deal would make it attractive to most investors.

“When FHFA proposed this program, the nation was worried about an onslaught of distressed home sales and too few buyers,” says Florida Realtors’ Senior Vice President of Public Policy John Sebree. “However, NAR and Florida Realtors have always taken the position that Realtors know their neighborhoods and are in the best position to move REOs into the hands of buyers.”

The Florida REO sales impacted homes throughout the state, including Central and Northwest Florida, Southeast Florida and the West Coast. It’s still unclear if Pacifica agreed to rules regarding a future sale. NAR says it’s setting up a meeting with FHFA to find out more details.

“Going forward, FHFA, Fannie Mae and Freddie Mac may decide that we no longer need bulk sales to investors,” Sebree adds. “Florida buyers are coming out in force and many say they now face multiple bids and a limited inventory of homes to consider. If we do discover any problems with the current deal, it will hopefully be an isolated incident.”

Alan Zibel, a writer for The Wall Street Journal, thinks Fannie Mae may focus now on sales to single buyers because it’s more profitable. “In the second quarter of this year, (Fannie Mae) recovered 59 percent of outstanding mortgage balances” when it sold a REO, Zibel says, “compared to 54 percent a year earlier.”

© 2012 Florida Realtors®

October 23, 2012 Posted by | News related to Investors, News related to Short Sales and Foreclosures, News related to the Market | Leave a comment

‘No pets’ may be deal breaker for renters

NEW YORK – Sept. 7, 2012 – If a rental unit doesn’t allow pets, more renters say they don’t want it.

A recent survey by Apartments.com found that 43 percent of respondents said that they currently own pets and more than a quarter said they plan to get a pet within the next year. Even among those who aren’t pet owners, however, 34 percent still said that they want the option and enjoy living in a pet-friendly building.

“Renters have made it clear that not accommodating a pet could be a deal breaker in their apartment search, and many apartment managers have taken this feedback into consideration and adjusted pet policies,” says Tammy Kotula, a spokeswoman with Apartments.com.

Only 20 percent of non-pet owning renters said they avoid buildings that allow pets.

The most popular pets renters own, according to the survey are: a small dog under 25 pounds (35.5 percent); a cat (24.2 percent), a large dog that weighs more than 50 pounds (13.6 percent), and a medium dog that weighs between 26 to 50 pounds (11 percent).

Source: “National Survey Reveals Trends in Pet-Friendly Renting,” RISMedia (July 29, 2012)

© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

October 23, 2012 Posted by | News related to Investors | Leave a comment

Investors becoming the new landlords

FORT MYERS, Fla. – April 25, 2012 – Gene Richards is a lifelong Vermonter, but on a recent weekday afternoon he found himself back on Florida’s west coast, scouting foreclosures to add to the collection of rental properties he has amassed in the wake of the housing crisis.

“I just started buying them and I haven’t stopped. I have 15 right now, and I’d buy another 15,” said Richards, 51, who runs a mortgage company and also owns rental properties back home in Burlington, Vt. “This to me is a no-brainer of an investment.”

With home prices at historic lows and rental rates on the rise, Richards and a growing number of investors with cash to spare are seeking lucrative returns by gobbling up foreclosures in distressed markets across the country and turning them into rentals.

“The investors are seeing bargain opportunities,” said Lawrence Yun, chief economist for the National Association of Realtors. “The numbers are just very attractive, given the alternatives.”

The real estate data firm CoreLogic estimated in a report this month that the burgeoning foreclosures-to-rental business could become a $100 billion industry this year as bigger investors get involved in hard-hit markets from Florida to California to Arizona to the Midwest.

Yun cited a recent NAR survey that shows sales of investment homes soared nearly 65 percent in 2011 over the previous year. By contrast, the number of purchases by owners who intended to occupy the homes fell more than 15 percent.

Those numbers reflect the fact that investors often have the ability to purchase in bulk and with cash, bypassing the need to rely on credit approval from banks. But the survey also suggests that the combination of bargain prices and a steady stream of rental income seems more attractive to many investors than having their money languish in banking accounts or bonds.

Of course, the speculators who furiously acquired properties and flipped them in search of quick profits played a key role in fueling the housing bubble that wrecked the U.S. economy. But for the moment, Yun believes, the current investor boom in turning foreclosures into rentals could actually help to heal the ailing housing market.

“In the current market situation, I would say the investors are very helpful. …We don’t want to see foreclosed properties linger. The investors are clearing this inventory out of the system,” Yun said. “Investors during the bubble years were not helpful; they were just adding fuel to the fire. But now they’re playing a stabilizing role.”

In the past, the investors willing to buy bank-owned, single-family homes and turn them into rentals predominately were individuals or mom-and-pop outfits with only a handful of properties. They’re still in the mix, but larger players have entered the business, and even larger ones – including hedge funds and private equity firms – have said they plan to invest hundreds of millions of dollars in such properties.

California-based Waypoint Homes has amassed about 1,300 rental houses in California since the business began in 2008 and has begun expanding into Phoenix.

“We’re not looking at this as a short-term opportunity in a distressed market,” said Waypoint co-founder Colin Wiel, noting that some large hedge funds and private equity funds are looking to spend hundreds of millions of dollars going into the single-family rental business. “There’s so much big capital that’s so eager to get into this space. It’s the emergence of an enormous industry.”

In the Washington area, investor Dan Magder recently left his job with the private equity firm Lone Star Funds to start the District-based Rock Creek Capital Group and focus on the single-family rental business. He has partnered with Greenlet Investments of Texas, which owns hundreds of homes throughout the South, and he expects to spend as much as $200 million in coming years buying foreclosures, renovating them and renting them out.

“There are a tremendous amount of these homes that are going to be sitting there. At the same time, you have many people who were in these homes who are looking for a place to live,” Magder said, adding that between rising rents and low vacancy rates, “the financial proposition starts to look good.”

Banks and lenders currently own 634,282 distressed properties across the country, a 16-month supply at the current sales pace, according to RealtyTrac. An additional 717,874 properties are in the foreclosure process but have not yet been repossessed.

In February, the federal agency that oversees government-backed mortgage giants Fannie Mae and Freddie Mac announced its intention to hold bulk sales of about 2,500 foreclosed homes in some of the nation’s hardest-hit areas, such as Las Vegas, Chicago, Atlanta and parts of Florida. The program could expand if successful.

The following month, Bank of America announced that it will test a pilot program to allow as many as 1,000 struggling homeowners to hand over the deed but stay in their homes and rent from the firm. The bank said it will work with property management companies to maintain the homes and eventually sell them to investors.

Some housing advocates say the idea of hedge funds and other large investors becoming large-scale landlords raises red flags. Will they abide by fair-housing laws? Will they actually maintain the homes or just slap on a coat of paint and ignore tenants until it’s time to sell?

“It’s a whole different thing than an apartment building, where all of your tenants are in one place. The fact that you have properties that may be scattered across a metropolitan area has its own set of challenges,” said Deborah Goldberg, special projects director for the National Fair Housing Alliance. “We’ve never been in this kind of situation before where you have so many vacant properties in so many places.”

The Federal Reserve recently issued a policy statement about bank-owned rental properties in which it urged banks to hire only reputable vendors and to comply with all landlord-tenant laws and property maintenance provisions.

Investors such as Wiel and Magder say they are aware of the potential problems and are using updated technology and infrastructure to make sure their properties are well maintained and their tenants treated fairly.

“The onus is on us to be effective stewards of these assets,” Magder said. “We’re dealing with real people and their lives, and you have to be sensitive to that. It’s actually the right business proposition, but it’s definitely the right thing to do.”

It’s a business proposition that isn’t likely to lose steam anytime soon. From institutional investors to small-time buyers, turning foreclosures into rentals seems to be one boom that has emerged from the housing bust.

Richards, the investor from Vermont, says he has no plans to cease his regular trips to Florida. Unlike the cavalcade of speculators who flocked to the state during the boom years to make a quick buck, he said he intends to be a responsible landlord and watch his investment grow over time.

“It isn’t about the flip for me,” he said of the foreclosures he has purchased. “I really like fixing them up. I feel like I’ve helped stimulate the economy down here. I don’t want to be the one who continues to hurt it.”

Copyright © 2012 washingtonpost.com, Brady Dennis

May 19, 2012 Posted by | News related to Investors, News related to the Market | Leave a comment

Investors eye REOs as a ‘gold rush’

NEW YORK – April 16, 2012 – Investors are pouncing on foreclosure bargains and then turning the properties into moneymaking rentals, which has some drawing comparisons to a “Gold Rush” of sorts.

Diane Gozza, the executive vice president of Integrated Mortgage Solutions in Houston, recently wrote in an article for National Mortgage News that investors are eyeing the properties similar to how those risk-takers did back in the 1848 California “Gold Rush,” who also had dreams of striking it rich.

In recent months, investors have been buying up investment properties in bulk at rock-bottom prices.

They have plenty to choose from: The government-sponsored enterprises (GSE), which includes Fannie Mae and Freddie Mac, own more than 200,000 single-family foreclosed homes, and banks own about 600,000 more. To help accelerate the “rush,” the Federal Housing Finance Administration recently launched a pilot foreclosure-to-rental program, offering investors the chance to bid on 2,500 foreclosure properties owned by Fannie.

But some housing experts, including the National Association of Realtors® (NAR), have argued that such REO-rental programs aren’t needed because investors are already flooding the market to buy up foreclosures, making a government intervention unnecessary. (Read “NAR: REO Rental Programs Largely Unnecessary.”

“Taking into account the enormous stockpile of REO properties currently held by the GSEs, the auction and bulk investment in REO to rental properties may indeed be the next gold rush,” Gozza writes. “Much in the spirit of the 1848 gold rush, there will be risks and tough lessons learned. But this private-sector initiative has the potential to be the catalyst for a housing market recovery.”

Source: “Tapping into the Next ‘Gold Rush,’” National Mortgage News (April 10, 2012)

May 19, 2012 Posted by | News related to Buyers, News related to Investors, News related to Short Sales and Foreclosures, News related to the Market | Leave a comment

Will housing prices soar by 2014?

NEW YORK – April 4, 2012 – Real estate economists and analysts are increasingly optimistic that the housing market will have a dramatic recovery in the next two years, according to results of a new semi-annual survey of 38 real estate economists and analysts conducted by the Urban Land Institute’s Center for Capital Markets and Real Estate.

The economists predict that the national average for home prices will stop falling by this year and a subsequent turnaround will occur. By next year, they project that home prices will begin to rise by 2 percent, and then get a larger boost of 3.5 percent by 2014. The economists also predict that housing starts will nearly double by next year.

They also foresee rental prices continuing to increase for all property types, ranging from 0.8 percent to 5 percent.

The economists’ predictions were made on assumptions that the economy would continue to strengthen, including a larger drop in unemployment.

“While geopolitical and global economic events could change the forecast going forward, what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years,” says Patrick L. Phillips, ULI chief executive officer. “These results hold much promise for the real estate industry.”

Source: “Real Estate Will Rock in 2014,” RISMedia (March 31, 2012)

May 19, 2012 Posted by | News related to Buyers, News related to Investors, News related to Sellers, News related to the Market | Leave a comment