Homester.com Web News Archive

Mid-Year Economic Outlook: Retail real estate (BizJournals) - Retail is usually one of the first sectors impacted during a recession as people usually look to tighten up their spending. This has led some national retailers to go bankrupt or close stores, opening opportunities in retail real estate. Memphis’ 65 million square feet of retail space had a 9.8% vacancy rate. But most brokers and retailers are optimistic for the rest of the year.

Rhode Island real estate brokers turn to auctions to move high-end properties in a stagnant market (The Providence Journal) - As Rhode Island's high-end real-estate market lingers in the doldrums, some sellers are considering auctions as a way to generate the buzz that could lead to a sale of their property.

Bank leadership changing amid real estate crash (BizJournals) - As Meridian Bank continues to search for a local banker to take over its Arizona operations, a new crop of executives is facing a slew of challenges in a real estate-dependent market gone belly-up.

Commercial real estate slumps hard in the Southland (Los Angeles Times) - Offices and warehouses empty out, even as rents decrease, in L.A., Riverside, Orange and San Bernardino counties. A turnaround might be years away. The lousy economy continues to quash the commercial real estate market, driving down rents and pushing out tenants.

Saudi Real Estate Quarterly Profit Drops 53% as Land Sales Fall (Bloomberg) - July 19 (Bloomberg) -- Saudi Real Estate Co., a Riyadh- based property developer, said second-quarter profit dropped 53 percent as land sales declined.

Application deadline today for real estate leadership program (Marietta Daily Journal) - MARIETTA — Urban Land Institute Atlanta is organizing its first leadership program, the Center for Regional Leadership Development. Today is the last day applications will be accepted for the inaugural class, which brings together metro Atlanta’s emerging leaders in the real estate industry.

German property giant Hypo Real Estate may need £8.6bn rescue (Daily Telegraph) - The German property giant Hypo Real Estate may need at least €10bn £8.6bn in fresh capital from the German state to stay afloat according to the chairman of the oversight board.

Real estate agent finds dead man in Westchester home (Daily Breeze) - A real estate agent discovered a body on the living room floor of a Westchester home Saturday night.

A bright spot for real estate (The Capital) - The number of homes sold in the county rose for the first time in more than two years in May and June, a breakthrough for the deflated real estate market.

DC area braces for commercial real estate crash (WTOP Radio Washington, DC) - Floor upon floor of empty offices, plummeting commercial values and scarce financing have set the stage for a second real estate crisis in a Washington region already battered by the housing crash.