- Sales of Seattle office building suggests market pickup
Wall Street Journal - Maura Webber Sandovi - Investors priced out of trophy office properties in New York and Washington, D.C. are now often looking for top-tier buildings in cities like Seattle and Houston. One recent deal that drove home that point: the sale of the Russell Investments Center in Seattle by Northwestern Mutual Life Insurance Co. for $480 million. That’s more than four times the $115 million that the 42-story property fetched in 2009. The yield was under 5%, according to people familiar with the deal.
- House of the Day: Stone on Stone in California
Wall Street Journal - Stefanos Chen - Stone on Stone in California - Situated on 8.75 acres of craggy mountain terrain, this roughly
4,000-square-foot home in Ramona, Calif., was built on -- and built with --
solid rock.
- CoreLogic: 69,000 completed foreclosures in March 2012
Calcualted Risk - From CoreLogic: CoreLogic® Reports 69,000 Completed Foreclosures Nationally in March CoreLogic ... today released its National Foreclosure Report for March, which provides monthly data on completed foreclosures, foreclosure inventory and 90+ day delinquency rates. There were 69,000 completed foreclosures in March 2012 compared to 85,000 in March 2011 and 66,000 in February 2012. Through the first quarter of 2012, there were 198,000 completed foreclosures compared to 232,000 through the first quarter of 2011. Since the start of the financial crisis in September 2008, there have been approximately 3.5 million completed foreclosures.
- Federal Reserve: Banks to increase real estate loan exposure
HousingWire - Justin T. Hilley - Borrower demand for prime residential mortgages is strengthening, causing some banks to anticipate increasing their exposure to such loans over the next year.The Federal Reserve Board’s April survey of senior loan officers showed standards on prime residential mortgage loans and home equity lines of credit in the month were roughly unchanged. It also indicated a moderate strengthening in demand for prime residential mortgage loans, the board said.
- Foreclosure activity returns in majority of US markets
CNBC - Diana Olick - Big jumps in foreclosure activity in cities like Pittsburgh, Indianapolis, New York and Raleigh pushed the national numbers higher in the first three months of this year, according to a new report from RealtyTrac, an online foreclosure sales and data company. A majority of U.S. housing markets posted a quarterly increase in foreclosure activity, although the numbers are still down from a year ago.
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