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Tag Archives: Real Estate Investment

Carrington Property Services to Manage Expanding Rental Portfolio

Carrington Property Services announced it is taking over property management responsibilities on rental properties owned by capital management firm Gorelick Brothers Capital. Per the two companies' partnership, Carrington will manage Gorelick's rental portfolio, which is located primarily in seven major urban centers.

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Analysts Say Double-Digit Appreciation Will Come to an End by 2014

Although the CoreLogic Case-Shiller Home Price Indexes recorded a 10.1 percent year-over-year increase in national home prices in the second quarter, double-digit appreciation is not expected to continue. While the market will continue to see home prices appreciate, those gains are projected to slip to just 5.4 percent by the beginning of next year, CoreLogic reports.

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Commentary: Investors Still Flooding the National Housing Market

Both large institutional and smaller ""mom and pop"" investors have been very active purchasing homes at a steep discount, primarily in housing-bust markets. Industry reports attribute anywhere from 33 to 49 percent of September's home purchases to investors. Whether one-third or nearly one-half of the market, investors are the key force driving home prices, which could signal volatility in coming quarters.

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Investors’ Home Purchases Total $1 Trillion Since 2011

Since 2011, investors have purchased more than 950,000 homes; and with 370,000 purchases so far this year, they have already surpassed the number of purchases they made in either of the past two years, according to a new report from RealtyTrac. In total, investors have spent $1 trillion acquiring single-family residences since 2011.

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High-End Home Flipping on the Rise

Real estate investors made an average gross profit of $54,927 on single-family home flips in the third quarter, RealtyTrac reported Thursday. The tracking company's data indicates investors' Q3 profit was up 12 percent from the average gross return a year earlier, driven in part by an increase in high-end flips of homes that were sold for $750,000 or more and concentrated in California and New York.

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2Q GDP Maintains 2.5% Growth Pace

The nation’s economy grew 2.5 percent in the second quarter, slower than economists forecast, the Bureau of Economic Analysis said Thursday. Economists had expected the report the third in the series of monthly GDP reports by the BEA to show the economy had grown at a 2.

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Industry Vets Launch New Group to Advocate for America’s Homeowners

America's Homeowner Alliance announced this week that it is officially open for membership. Launched by a team of industry veterans led by Phil Bracken and guided by an advisory board made up of representatives from the housing industry, prominent consumer groups, and fair housing organizations, America's Homeowner Alliance is the first nationally organized group dedicated to protecting and promoting sustainable homeownership for all segments of America.

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Q2 GDP Grows 1.7%, Exceeds Expectations

The nation’s economy grew at a 1.7 percent annual rate in the second quarter, the Bureau of Economic Analysis reported Wednesday. Growth exceeded economist forecasts but remained slower than the growth rate needed to add jobs. In the first quarter, GDP grew 1.1 percent and in the second quarter last year, the economy grew at a 1.2 percent annualized rate.

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Beige Book Again Sees Modest to Moderate Growth

Citing improvements in manufacturing, tourism, commercial and residential real estate and in the financial sector, the Federal Reserve Wednesday said the nation's economy ""continued to increase at a modest to moderate pace"" from late May through early July. The assessment in the periodic Beige Book was tempered by ""mixed"" conditions in the agricultural sector and the absence of improvement in labor markets. ""Hiring,"" the Beige Book said, ""held steady or increased at a measured pace.""

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What Soaring Confidence? Builders Cut Back in June

Despite soaring builder confidence, new housing permits and starts fell in June, with new construction falling to the lowest level in 10 months, the Census Bureau and HUD reported Wednesday. The seasonally adjusted annual rate of new housing permits tumbled 7.5 percent--the largest month-over-month decline since January 2011--while starts fell 9.9 percent, the second-largest drop since February 2011. Builders completed homes at an annual adjusted pace of 755,000 in June, 6.3 percent more than May's 710,000.

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