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Fed is strapped with a pile of mortgage securities

23 Jul 2010 |  Posted by griffin |  0 Comment.
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Economic uncertainty is definite until the Fed can decide what to do with its $1 trillion dollar investment in mortgage backed securities. Article by the New York Times- WASHINGTON — The Federal Reserve provided most of the money for new mortgages in the United States last year, effectively lending more than $1 trillion to American homeowners. Vincent Reinhart, a former Fed division head, said reserves could be inflationary. Now the legacy of that extraordinary intervention is hanging over the central bank as it faces growing demands for an encore to help revive the flagging...



VOIT ANNOUNCES OC INDUSTRIAL MARKET SHOWING POSITIVE ABSORPTION FOR FIRST TIME SINCE 2008

20 Jul 2010 |  Posted by griffin |  0 Comment.
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Orange County office space shows positive results in 2nd Quarter 2010ANAHEIM, Calif., (JULY 07, 2010) – For the first time in seven consecutive quarters, Orange County’s industrial market showed positive net absorption, posting 278,731 square feet, according to Voit Real Estate Services’ Second Quarter Market Report. Overall, availability is stabilizing and lease and sale transactions are on the rise – both signs that the industrial market is moving in a positive direction, according to Jerry Holdner, Vice President of Market Research for Voit. In the Orange County office space...



U.S. Commercial Property Prices Rise for Second Straight Month

19 Jul 2010 |  Posted by griffin |  0 Comment.
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Maybe the US commercial real estate market is turning around. Prices as measured by Moody’s/REAL Commercial Property Price Indices (CPPI) increased 3.6% in May. It was the second monthly increase in a row, after a 1.7% rise in April. "We expect commercial real estate prices to remain choppy in the coming months,” said Moody’s Managing Director Nick Levidy. The positive news of increasing prices over the past two months is tempered by low transaction volumes, forecasts for slowing macroeconomic growth and the rising risk of a double dip recession. Prices are currently 38.9%...



Planned Banning Business Park receives approval from City Council

19 Jul 2010 |  Posted by griffin |  6 Comments.
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The Banning City Council on Tuesday night signed off on a planned business park. Council members unanimously approved the design plans, an environmental report and a tentative parcel map, which calls for constructing 12 buildings on 64 vacant acres northeast of Hathaway and Nicolet streets. The buildings will be for manufacturing, warehouses and offices. Greg Chila from OSI Partnership I LLC, the property owner, described the design as state-of-the-art and said these won't be metal warehouses. The Banning Planning Commission recommended the City Council approve the development. The...