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Foreclosed Building On Constitution Plaza In Hartford Up For Sale

Isabelle Bolliger — Fri, 20 Jan 2012 19:18:48 +0000

A five-story office building on Hartford’s Constitution Plaza that recently got new owners as a result of a foreclosure is up for sale.

GE Asset Management took control of the building at 200 Constitution Plaza the former Travelers Education Center in late December. It had been empty for about a year, but a master lease guaranteed rent payments. The master lease expired several months ago.

Last week, GE declined to comment on its plans for the building, whose ownership is separate from other structures on the plaza.

No asking price has been established because the marketing is just getting started, according to the Hartford office of CBRE-NE, which represents the property.

The city is proposing a fair market value of $7.3 million for calculating property taxes as a result of its 2011 revaluation.

John M.

Petrobras to hire female executive

Sofia Camfield — Fri, 20 Jan 2012 10:24:17 +0000

The Brazilian multinational energy corporation Petrobras is to hire its first ever female chief executive.

Seen as a positive move, news of the potential appointment caused shares in the company to soar to an eight-month high.

Maria das Gracas Foster, who has been with the government-run corporation since 1978, is said to be a no-nonsense woman, a trait she shares with her close friend president Dilma Rousseff.

“[Her career] shows the pioneering spirit of a woman who has coordinated important public programs, participating in an active way in the defence of Brazilian interests,” Marcio Rocha Mello, a former Petrobras executive, told Fox Business.

“Gracas Foster is extremely qualified for this post and will certainly command Petrobras with the same brilliance with which she has conducted her entire career.”

The 58-year-olds story is a classic rag to riches tale, born in a favela in Rio de Janeiro, working as a waste collector from the age of eight.

Down and Dirty with the Property Recovery – UK

Jesse Spivakovsky — Thu, 19 Jan 2012 20:34:32 +0000

Many people feel like – “if I hear one more commentator say it’s a mixed bag I am going to shoot him/her and then myself”, but there is no other way to describe it. In fact it is so mixed that one can easily find enough evidence to support the theory of a strengthening recovery in UK housing or a weakening one.

For example: RICS has reported a marginal rise in new residential buyers for the last 2 consecutive months, and this is now backed up by house builder Taylor Wimpey, which has today revealed that after 2011 “exceeded expectations” it has likely already hit its target of increasing operating profits into double digits, a target set for this year.

The presence of more buyers is also supported by the gradual but continued growth in mortgage approvals.

Washington Report, Jan. 16, 2012: Federal Reserve Releases Housing White Paper

Jesse Spivakovsky — Wed, 18 Jan 2012 16:28:55 +0000

In this issue: Supreme Court Hears Oral Arguments on Wetlands Case; Government Mandates Housing Fee Increases to Help Pay-for Benefits Extensions; NAR Meets with HUD REO Staff; Federal Reserve Releases Housing White Paper.

Nine-Property Seattle M-F Portfolio Gets $155M Freddie Refi

Isabelle Bolliger — Fri, 13 Jan 2012 16:42:26 +0000

Financing to the tune of $155.3 million has been put in place for a 2,184-unit apartment portfolio in metropolitan Seattle, courtesy of CBRE Group Inc.’s capital markets team. Acting on behalf of the Holland Partner Group and Invesco, joint owners of the nine properties, the real estate services firm arranged the funds for the refinancing of the portfolio through Freddie Macs CME program.

The agency was good to work with and our client appreciated their moving quickly, Mike Wells, managing director for CBREs Portland operations, told Commercial Property Executive. Pa

The Price of Sustainability

Sofia Camfield — Thu, 12 Jan 2012 15:23:59 +0000

Last week, members of Llenrock Group joined industry executives from throughout the Mid-Atlantic region in the quarterly meeting of the Philadelphia Real Estate Council. The meeting focused on the subject of valuation, an often-complex process made even more difficult by the market volatility we’ve been seeing on a global scale.

There are numerous factors to consider in the valuation of an asset–from the appraiser to the lender to the particular market and submarket–and that’s before we even talk about the property itself. All of

$355,000 Home For Sale in Columbus, NJ 08022

Jesse Spivakovsky — Mon, 09 Jan 2012 20:46:35 +0000

44 Birmingham Drive Columbus, NJ 08022

4bd. 2fb. 1pb. Single Family $355,000 Photo Coming Soon
Solar Electric home with buyer to benifit all solar credits. Spacious 4 BR, 2.5 bath 2638 model in Mapleton Development. A nice sized Bonus Room on the 2nd floor and a finished bright English basement heated by solar power.Open layout in the kitchen w/ceramic tiles & bay windows. Kitchen flows into the family room w/recessed lighting, programmable gas fireplace & wall unit for your TV. First floor laundry, half bath and access to the 2 car garage w/openers & built in loft area across the garage for extra storage. Second floor has master Br wuite w/2 walk-in closets & master bathroom with double sinks, jet soaking tub & stand up shower. Continue reading…

Behind the scenes at ‘House Hunters International’

Isabelle Bolliger — Mon, 09 Jan 2012 10:37:12 +0000

In case you’ve been wondering — yes, there are real estate agents at work in the Arctic Circle.

This was something of an exciting revelation for Freddy James, senior vice president for program development at HGTV (Home & Garden Television), which airs the popular “House Hunters International” series and is perpetually on the prowl for far-flung locations where its cameras can deliver a regular dose of real estate voyeurism.

“We’re doing our first episode in the Arctic Circle — in Tromso, Norway,” explained the New York-based exec. “We’re showing (the house-hunting experiences of) a geologist who is going there to do some work on an island.

What does the Chinese New Year have in store for your home?

Sofia Camfield — Mon, 09 Jan 2012 03:56:01 +0000

The Year of the Dragon should bring wealth and power. It begins on January 23, 2012 and ends on February 9, 2013. You have an Astrological sign and so does your home. Let’s take a break from all the real estate numbers and statistics and have a little fun. So which homes are going to enjoy a prosperous and stress free 2012?

Goat: 2012 will be a wonderful year to remodel or relandscape. If you can’t afford either, simply declutter, and reorganize, perhaps paint a room or two. Home improvements made this year will be hassle free.

Video of the Location of the Scott Hargis Workshop in Ronda Spain

Sofia Camfield — Sun, 01 Jan 2012 23:09:27 +0000

Malia Campbell sent me this link to her video that she shot for the people that own the property in Ronda, Spain (be sure to view this full screen) where Scott Hargis did his recent workshop.

Malia was telling me that because she was over the weight limit for checked bagage she had to leave her counter weights for her crane in Spain and purchase some new counter weights when she got back to Seattle.

U.S. Travel Association Applauds New Canadian Border Processing Deal

Isabelle Bolliger — Fri, 30 Dec 2011 18:19:04 +0000

The U.S. Travel Association is commended the new agreement that will speed the border process for Canadian travelers visiting the United States while enhancing security.

President Barack Obama and Canadian Prime Minister Stephen Harper announced highlights of joint action plan at a White House ceremony on December 7.

“Yesterday’s announcement strikes an important balance between enhanced security and the economic benefits of travel and trade,” said Roger Dow, president and CEO of the U.S. Travel Association. Continue reading…

Roseburg; Residential; $42,000

Jesse Spivakovsky — Thu, 29 Dec 2011 23:07:07 +0000

Roseburg – Residential $42,000 MLS Number 12627729 Location:Roseburg Price:$42,000 Bedrooms:2 Baths:2.0 Year Built:1981 Approx Sq ft:1920 Waterfront: View:Mountain Lotsize: Taxes: Spacoius Silvercrest mobile home. Although older, home appears very modern with updated carpets & kitchen cabinets. Formal living room, w/elec FP, built in hutch & slider to covered porch. Lrg great room w/dining & office area open to remodeled kitchen. Lrg master w/walk-in closet & 12×8 storage/office room addition. Manicured yard, approx 10×9 storage shed. Huge covered deck.

ACI buyers team up in legal bid to revive celebrity towers

Jesse Spivakovsky — Thu, 15 Dec 2011 01:59:32 +0000

The three celebrity-branded towers were launched at the height of Dubai’s real estate boom

German investors are hoping to kickstart three celebrity-branded real estate projects in Dubai after pursuing legal action against the developer for what they claim is fraud.

The group, which claims to represent more than 3,000 buyers, wants to band together with UAE residents who invested in real estate schemes backed by Alternative Capital Invest (ACI), in a bid to press ahead with the stalled properties.

“We want to combine the interest from the local investors in Dubai with the investors here from Europe to realise the projects. W

Governor Cuomo Approves NYSUNY2020 Application For Stony Brook

Sofia Camfield — Wed, 14 Dec 2011 20:56:54 +0000

Albany, December 14, 2011

$194 Million Plan Will Create More Than 6,000 jobs

Governor Andrew M. Cuomo today travelled to Stony Brook to sign the Stony Brook University 2020 challenge grant application that proposes a $194 million plan to help revitalize Long Islands economy by building a first-class medical research building at the Stony Brook campus.

Under the proposal, the university will be able to support Stony Brooks plan to build a new translational medical research building; hire additional faculty and staff; and, launch economic development partnerships with industry in the Long Island region.

This is a win-win for Long Islands economy and students, Governor Cuomo said.

Hartford 2012 Tax Bills: Big Hikes For Apartments, Wide Swings For Some Homeowners

Isabelle Bolliger — Tue, 13 Dec 2011 12:34:05 +0000

HARTFORD Richard Allen worries about what will happen when he receives the July property tax bill for his four-family house in the North End.

The 2012 tax bills, based on values the city assigned as of Oct. 1, will bring an unpleasant surprise to many owners of houses and apartments even as they bring relief to commercial building owners. That’s partly because office and industrial buildings generally lost more value than residential property since 2006, the last time new values were assigned.

Pictures: Hartford City Tax Winners And Losers

But beyond the shift in values, Hartford — which taxes different classes of real estate at different levels — is sharply pushing up the levy on apartment buildings, which were already taxed higher than houses.

And as a four-unit owner, Allen is part of a group that will be hit especially hard. Tha Continue reading…