This is particularly true for Denver and Phoenix. However, since developers, like lemmings, seem programmed to follow the leader, overbuilding in the Denver and Phoenix regions is occurring as I sit down to answer your letter.



Your dis-investment decision with respect to these two communities should be based on long-term compatible strengths of the projects. And the competitive strengths of the projects is directly tied to the quality of each development's location and product.

Now for the Northern California Properties. The long-standing Nimbi’s of many communities is that part of the state serves to restrict future competition.the property valuation AdelaideThis, combined with relatively high proportion of non-traditional family households, suggests maintaining the reasonably well-located Northern California product within your REIT portfolio.

If you are asking if there are good apartment buys out there, you are about two to three years too late or five to 10 years too early. Good buys today are less dependent on creative financing than they are on creating opportunities. Opportunity resides in the three R's: reuse, rehabilitation, and retenanting.

With respect to multifamily properties, many of these three-R opportunities are located in our center cities and those suburbs that are in closer. Those that are appealing regional and/or national tourist destinations, because they offer exciting shopping, restaurant, entertainment and cultural opportunities, are also going to attract young singles, empty-nesters and the non-traditional household.

The conversion of industrial to loft space is not a new phenomenon and has resulted in new residential districts in many downtowns, including New Orleans, Boston, San Francisco, Minneapolis, Houston, Oakland and Cleveland.

While downtown office vacancies are on the decline, office rents for class B and C product in most downtowns are not keeping up with the per square foot rents that desirable residential product is able to generate.



Older office buildings, particularly those built in the 1920s and '30s, often offer large windows, high ceilings, small floor plates and aesthetic exteriors that, if priced right, make them ideal candidates for conversion. Chicago currently boasts two such older conversions. best property valuers in Brisbane for right property valuations. The requirement for safe house has transformed into the need of notoriety and acclaim.

The Motor Club located at Wicker Dr. is a 14-story art deco building that will offer 4,000-sq.-ft. Units priced to sell from $1.4 million to $4 million. The 10-story Singer building on State Street will offer 1,750 to 2,250-square-foot units priced at about $300,000. The Motor Club conversion is aimed at the CEO and affluent empty nesters; the Singer caters to the younger 25-to-40-year-old downtown Chicago office worker.

There are two trends, one demographic and one economic, fueling this demand for downtown living. The most important demographic trend is the fact that only 35% of all American households today have a child living at home. This means that the vast majority of us are not prompted to select our neighborhood or home based on good schools or other child-related needs, although, with or without children, all of us want to feel safe walking in our residential neighborhoods.

The primary economic determinant is the dynamic growth in the computer software/multimedia industry and the young men and women dominating this industry.

You may have gathered by now, gentle reader that the strategy Ms. Real Estate is recommending is less one of diversification -- since both you and your staff have built up expertise in owning and managing residential properties -- than one of re-evaluating your current inventory and looking for attractive reuse opportunities.

In your reevaluation, you will need to identify those location, product and supply factors that will divide your current inventory into projects that are likely to maintain their longer term competitiveness and those that will not. Candidates for live/work loft space and other multifamily products. In the longer term, you will be able to bottom fish again in those markets being over built, such as Phoenix and Las Vegas. So take heart. And the Urban Land Institute have teamed up to begin building a groundbreaking database that will track the performance of multifamily properties and loans nationwide.



Data will be gathered from HUD, Fannie Mae, Freddie Mac, the U.S. Department of Agriculture's Rural Housing Service and owners and managers of major apartment properties, including Boston Financial, Trammel Crow Residential, Insignia Financial and Equity Residential. Major nonprofit owners, such as the Local Initiatives Support Corp. and the Enterprise Foundation also will contribute information. Proprietary information will be protected by a unique system to present the information in aggregates of 10 properties.

The institute has chosen San Diego, Calif.-based Science Applications International Corp. to develop and operate the system, which will be known as Apt. data. land valuation A recent anti-discrimination settlement between a California lender and federal officials has made big waves at the Mortgage Bankers Association Convention this week. With instant access to real-time information, we can increase the quality and profitability of rental apartments in the U.S."

Despite grumbles from some MBA members that there was no case law to back the terms of the controversial settlement between federal regulators and Long Beach Mortgage Inc. the MBA Wholesale Committee passed a resolution at the convention to create a task force to help wholesale lenders police the practices of brokers and correspondents who originate loans for member mortgage companies.

To avoid protracted litigation, Long Beach recently agreed to a $4 million settlement that returned $2 million of disputed fees to retail customers, $1 million to wholesale customers, and $1 million to educate mortgage brokers and correspondent lenders on complying with fair lending practices in originating loans for Long Beach.



Sunday's committee resolution calls for developing standard disclosures that could be used in the application process to explain pricing disparities to borrowers and set up a self-review process that will help wholesale lenders avoid exposure to similar lawsuits.

In the settlement Long Beach agreed to more closely monitor its retail lending practices while steadfastly denying government allegations that the company's prices for its mortgage loans were unlawfully influenced by race, national origin, sex or age.

The MBA Residential Loan Production Committee spent a lot of time at its meetings this week trying to figure out which new Real Estate Settlement Procedures Act (RESPA) rules are now in effect and which ones are suspended until next spring.

Congress just passed a bill that President Clinton signed into law, a watered-down regulatory relief package that postpones implementation of controversial RESPA reforms. Republican lawmakers pushed for major relief from RESPA regulations, but Democrats and consumer groups resisted.

Property valuation is considered as the steps which are required to follow with the process of doing the steps and inspecting the full house to get its value in the market. Property valuers fees online If you are facing the property area for the first time then it will be helpful for you to take guidance from the property valuers. One controversial RESPA provision would have allowed lenders to pay referral fees to affinity groups for endorsements. That provision was struck after an overwhelming majority of lenders protested that the provision would have gutted RESPA protections for consumers and started a bidding war for endorsements.

The valuers will always perform their best to make your process complete without any hurdles in middle of the process. Property valuation is considered as the most prominent way to calculate the value of your house. Lender organizations are frustrated by the uncertain outcome of HUD's negotiated rules-making process that so far has failed to produce a consensus on how RESPA should be changed.

Rosen is at the MBA convention for a special Tuesday session to help lenders find their way through the current maze of newly active vs. newly postponed RESPA regulations. home loan valuation of the property If the vendor exhibits this week at the annual convention of the Mortgage Bankers Association are any indication, the process of getting a home loan is moving quickly toward total automation.



Many, if not most, of the booths for the trade show portion of the convention were promoting the latest in software and communications technology to speed up and reduce the cost of handling paperwork in obtaining a mortgage for a consumer.

While some were promoting software solutions for producing and transmitting home loan forms, one vendor announced a paperless home loan. Contour Software, the nation's largest provider of mortgage origination technology, chose the annual convention to launch its Electronic Mortgage Folder.

The new Contour product was described as an all inclusive origination process which enables a lender to move a loan from the point of sale to closing in a totally electronic format. Benefits to lenders are advertised to lower costs, provide faster turnaround time and improve accuracy of borrower data in forms and documents.

American City Mortgage, headquartered in Carson, Calif., is the first mortgage banking company to adopt Contour's electronic process. Canada's inflation rate is pegged at 1.4 percent, compared to a U.S. rate of 3.2 percent.

the Commercial Investment Brokers Association in Kirkland, Wash.; Multiple Listing Service, Inc., in Anchorage, Alaska; Real Comp in Detroit, Mich.; Metro MLS in Milwaukee, Wisk.; and Northwest Multiple Listing Service in Kirkland, Wash.
MLS services contract with large real estate specific systems vendors (such as Moore Data, Boris and Interrelate) to install and manage their database and communications infrastructure. These systems are usually text-based terminal systems that are hardware intensive and limited in their interface capabilities.



The main database system sends streams of text to the user's computer in proprietary formats, requiring powerful hardware and complex software to interpret and manipulate the data.

There is no direct querying of the database. All searching and viewing is usually done by the client software. The front end software that puts a user-friendly face on the data for the agents holds the system's active intelligence; the back end is passive.

But working with an expert property valuer will add profit and success to your property and also in your way of representing the full property valuation process. property valuer job description This is the main cause that you should always take suggestions from the property valuers from certified company and also the property valuers have license to deal with the valuation process. The key limitations of this system are that the system relies on agents having powerful hardware and good software (and knowing how to use it correctly) and that a passive back end requires market-specific front-end software for each MLS region. This means continual disk duplication and distribution and costly technical support. An MLS needs extensive telecommunications equipment to convert all the incoming phone lines into a format its computer can accept.

Costs include multiple phone lines, terminal servers, heavy duty modems and the processing power to manage them, and costly service and support. Access is limited to the number of phone lines connected to the system; agents cannot connect to the back end through other telecommunications equipment or protocols. There is no network ability with these typically proprietary systems, which often depend on rented or leased equipment and software that depends on the vendor for modifications and upgrades. Factors like these create an incentive for MLSs to seek other options.

What some of the MLS mega sites are paying is absolutely ridiculous," Knoepp said. "The days when you needed fancy hardware are over property valuation courseThe key characteristic that differentiates these systems and ones currently in use is that North Star’s central product is run as an Intranet site rather than a conventional dial-up service.



Because MLSs face an increasing demand to enable their members to share data in a timely and accurate manner, Knoepp said, "This is an ideal application to exploit the Internet's protocols such as TCP/IP, HTML, Java and ActiveX."

Because the front-end software is more basic, fewer technological demands are made on member agents. The net effect North Star enables is greater intelligence on both ends of the system and faster queries to retrieve information.

Because North Star substitutes Internet communications access for the dial up system, as with a Web site, a small fraction of formerly necessary communications hardware produces richer, more flexible content and immense cost savings.

Last month's annual drop in foreclosure starts was 39.2 percent in Orange County and 34.2 percent in San Diego County. The default counts in both counties were the lowest in two years. Your property could be worth more now than it was then. However, if there are more properties on the market today, your property could be worth less now than it was then.

In addition to current supply and demand factors, actual property values may have appreciated or depreciated since the property was last appraised. Without a purchase price, it's difficult to pin-point a market value precisely. There's usually a range of value.

Some appraisers tend to appraise on the high side; others are more conservative. This explains why two appraisers appraising the same property and using the same comparable sales data come up with different valuations. Often mortgage brokers check with appraisers before they order the appraisal to see if the property is likely to appraise for a certain price.

While stable and low interest rates are certainly important to the condition of the real estate market, they aren’t the primary reason property investments of any type are enjoying one of the most bountiful periods in recent history.



A strong and prosperous economy is the central reason demand for real estate -- both housing and commercial space -- is at record levels.

Moreover, nearly every region of the country from New Mexico to Minnesota to New York City is enjoying a vibrant economic picture. Even once redlined communities or marginal urban areas such as downtown Denver, Florida’s Miami Beach and San Francisco’s South of Market district are figuring in the rebound. Of course, a sharp spike in rates may have a short-term effect on the market, but assuming mortgage rates don’t rise in excess of 9 percent or so for a fixed rate mortgage, the influence of a rate hike should be marginal.

Another factor is a wholesale shift in the supply and terms of mortgage money. Home buying, for example, has always been a highly leveraged investment with a typical mortgage only having a 20 percent down payment.

But now a 5 or 10 percent down payment mortgage is common, giving buyers even greater leverage, albeit greater credit risk if the market tumbles like it did in the late 1980s and early 1990s in many parts of the country.

These favorable mortgage terms mixed with rising incomes and greater employment security explains why homeownership is more attractive to a growing number of American families.certified property valuer perth, The only competition for housing investment is the booming stock market, but it tends to attract retirement dollars for an older age cohort than the prime home buying crowd. However, this trend may be dampening the prospects for a more robust vacation home market.
Moreover, many realty experts say that the record setting stock market has dampened the market for small property investments such as storefront commercial real estate and "b" rated apartment buildings. Get cheap property valuation Of course, a slowing economy would dampen the demand for housing, presuming there is less job growth, a slowdown in wage hikes and more insecurity in the employment market place. But current trends seem distant from that scenario.



The housing market itself, of course, could also contribute to slowing demand. If record levels of home price inflation were to continue, an affordability problem could discourage many buyers, particularly in high cost areas.

Almost halfway through its seven-year commitment to provide $1 trillion in financing to populations most in need, Fannie Mae still has a long road to hoe. But for now, one has to search high and low for problems that might derail the current U.S. housing boom.

In the mission's first three years, the congressionally-chartered, shareholder-owned company has provided $311 billion in targeted funding. That's a powerful lot of money, by any count. Enough, in fact, to serve 4.2 million people with special housing needs.

But it's still $689 billion short of Fannie Mae's goal, and there's only four more years to go. It's always been a stretch, but my view is we will make it," Chairman James Johnson told reporters today during his annual update on the all-encompassing initiative, which was announced in March 1994 and includes underwriting experiments, technology advances and educational efforts, among other things.
We'll definitely hit our goal of reaching 10 million households," he added. "And we are on course for our monetary goal, which we've always assumed will grow exponentially toward the end. So I'm still very optimistic we will meet both targets."



However, given the fact that the average loan amount per household is falling, the Fannie Mae chairman said the company won't reach the trillion marks "with any margin to spare." But it doesn't make loans directly to consumers. Instead, it keeps the market liquid by purchasing mortgages from local lenders.

The $114 billion in targeted funding the company provided last year was $30 billion greater than in 1995, according to the company's figures. And Johnson said he expects that this year's volume will grow "at least at that rate" or perhaps even exceed it.

It will add three new partnership offices to the 25 operating throughout the country, boost its investment in local housing groups, invest in "hard-to-finance" neighborhoods, and add to its portfolio of projects financed with low-income housing tax credits. Customs development feasibility and real estate valuations Sydney property valuer for our valuable clients who are real estate buyers or sellers.

Fannie Mae's partnership offices are designed to bring together various segments of the housing equation -- lenders, community groups, government leaders and developers -- and help them build comprehensive investment strategies unique to their own needs. And they are working "extraordinarily well," Johnson said.

To date, the 25 offices have fostered $62 billion worth of housing initiatives, helping nearly 800,000 families in the process. That's a 100 percent increase in the $25 the company has invested in 35 such institutions since 1994.
In addition, the company will invest $2.4 million in the American Communities Fund, a venture fund it established last year to back development in neighborhoods which cannot otherwise access equity capital. Investments will be made in 10 cities this year, Johnson said.


With $864 million in properties that qualify for low-income housing tax credits on its books, Fannie Mae already is the nation's largest investor projects backed by in the popular tax break, either on its own or through various intermediaries. And it plans to add $250 million more such properties to its portfolio this year, for a total of more than $1.1 billion.

The Realtors argue that the Internet is rapidly changing the way real estate is bought and sold and that bundling services within the transaction is an example of the dramatic growth of the increasing use of online technology.Property valuation solutions Breaking down barriers to alliances between real estate service providers will foster greater competition in the marketplace and consumers will benefit from the more efficient, faster and less expensive transaction, he said.

Kulich said the new online technologies should be embraced, and a "one-stop shop" should be created where the Realtor rather than a title company could process the transaction.

You can't owe back taxes on a car. There are no CCR's on a car. It's just bizarre. If the Realtors would like to equate themselves with used car salesmen that are a sad commentary.

This bill would promote the development of a new title product that permits a title search covering only the "gap" back to the last title policy. The second bill sponsored by the Realtors is intended to make the title insurance business more competitive. The legislation, AB 1524 by Assemblyman Robert Printer (R- Hanford) would repeal the so-called "50% rule" that prevents affiliated title companies from receiving title business from parent firms and "artificially inflates transactional costs for consumers."
Legal property lawyers or solicitors are always helping you in all the procedure of real estate valuation. call or email to get best property valuers at cheapest rate. Realtors say AB 1524 also invites price competition in title services by allowing title insurers to reduce or discount their approved rates as part of an affiliation arrangement, as long as it provides a net saving to consumers.



Pelisses said the title industry will oppose the Realtor-sponsored legislation, and instead will support SB 997 by Sen. Adam Schiff (D-Pasadena) that would provide $260,000 annually to the California Department of Insurance to investigate kick-backs and rebates from title companies to real estate brokers and agents. It's no secret that there have been illegal inducements between some title companies and real estate brokers and agents,

It's really important that the public has confidence in these transactions and that the relationships between the parties are fully exposed. CTLA is not only saying 'no' to the practice of kickbacks to Realtors, we're saying 'here is some money to help enforce the law.' We would love to have the Realtors join us.

Pellissier said the title industry works closely with state insurance regulators, and there was strong support from CTLA last fall for increased enforcement of laws concerning illegal payments to Realtors by title companies.

McLean, Va. -- The 30-year fixed-rate average mortgage rate for the week ending March 14, 1997 remained at 7.84 percent, virtually unchanged from last week, reported Freddie Mac's Primary Mortgage Market Survey. A year ago, it was 7.83 percent.

The average for 15-year fixed-rate mortgages this week is 7.34 percent, one basis point different from last week’s average of 7.35 percent. A year ago, the 15-year interest rate was 7.32 percent.

Since Chairman Greenspan’s remarks pushed interest rates up two weeks ago, the economic news continues to point to a strong economy with no great threat of inflation, said Robert Van Order, chief economist for Freddie Mac. "With these conditions in place, interest rates remain steady this week; further, it appears these figures will stay stable through the coming week at least.

The program may even offer a sizable "cost savings" over existing secondary market programs by reducing guarantee fees or possibly even eliminating them altogether. In that the FHL Banks are no longer providing only those products that are unique to the needs of portfolio lenders, McCord testified that a change in policy is in order.



There is no longer any rational basis for discriminating against mortgage companies by denying them access to the FHL Banks," he said. To the extent depository institutions have access to ‘mortgage banking’ outlets like Fannie Mae and Freddie Mac, mortgage companies should have access to the same outlets granted to thrifts.

But Irvine said the all three pilots should be expanded into full-fledged programs as soon as possible. And he called on the 12 federal home loan banks to develop others.

Delta's new Get a Property Valuation Specifically, he said builders would like to see programs to address gaps in housing production and multi-family financing, including credit enhancements.

The FHL Banks could become a secondary market outlet for such loans, Irvine testified. Or maybe they could purchase this loan outright, possibly coupling them with the resale of participation interests.
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