http://insiderealestatejournal.blogspot.com Helping you to make the best personal decision possible when it comes to making your home ownership, commercial and investment real estate dreams come true. 2004-01-29T15:30:00Z en-US http://insiderealestatejournal.blogspot.com/2004_01_25_insiderealestatejournal_archive.html#107539019999718231 <b>Commercial Real Estate Forecast For 2004<br /><br />While office leasing lagged in 2003, it is expected to pick up in 2004 according to a market forecast released by Grubb & Ellis. However, it will probably be quite a few quarters before office space attains a nice lease-rate rebound.<br /><br />Low inventory and increasing factory orders are predicted to increase demand for industrial space throughout 2004, and likely beyond 2004, as well.<br /><br />Retail is also expected to remain strong, making strip centers and shopping centers remain as wonderful investments.<br /><br />Information from <a href="http://www.realtor.org">Realtor Magazine</a> was used for this report.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-29T15:29:59Z Commercial Real Estate Forecast For 2004

While office leasing lagged in 2003, it is expected to pick up in 2004 according to a market forecast released by Grubb & Ellis. However, it will probably be quite a few quarters before office space attains a nice lease-rate rebound.

Low inventory and increasing factory orders are predicted to increase demand for industrial space throughout 2004, and likely beyond 2004, as well.

Retail is also expected to remain strong, making strip centers and shopping centers remain as wonderful investments.

Information from Realtor Magazine was used for this report.

-John Mudd]]> http://insiderealestatejournal.blogspot.com/2004_01_25_insiderealestatejournal_archive.html#107508085472912177 <b>New Housing Starts Up<br /><br />New housing starts in December reached their highest levels since 1984 according to HUD Acting Secretary Alphonso Jackson. <br /><br />For 2003 they were up 8.4 percent from 2002. A 6.3 percent increase from 2002 also occurred.<br /><br />The National Housing Market Index is higher than it was at the beginning of 2003, at just under 68 points. The housing market will be strong in 2004 according to experts.<br /><br />"All in all, it's quite upbeat," said NAHB Chief Economist David Seiders.<br /><br />Information from <a href="http://www.rismedia.com">RisMedia.com</a> was used for this report.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-26T01:34:14Z New Housing Starts Up

New housing starts in December reached their highest levels since 1984 according to HUD Acting Secretary Alphonso Jackson.

For 2003 they were up 8.4 percent from 2002. A 6.3 percent increase from 2002 also occurred.

The National Housing Market Index is higher than it was at the beginning of 2003, at just under 68 points. The housing market will be strong in 2004 according to experts.

"All in all, it's quite upbeat," said NAHB Chief Economist David Seiders.

Information from RisMedia.com was used for this report.

-John Mudd]]> http://insiderealestatejournal.blogspot.com/2004_01_11_insiderealestatejournal_archive.html#10743998019610559 <b>Moreover Technologies Syndicates Tampa Bay's Inside Real Estate Journal<br /><br /><a href="http://www.moreover.com">Moreover Technologies</a> recently syndicated <a href="http://www.insiderealestatejournal.blogspot.com">Tampa Bay's Inside Real Estate Journal</a>. <a href="http://www.prweb.com/releases/2004/1/prweb99467.htm">Click here</a> for more information.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-18T04:23:21Z Moreover Technologies Syndicates Tampa Bay's Inside Real Estate Journal

Moreover Technologies recently syndicated Tampa Bay's Inside Real Estate Journal. Click here for more information.

-John Mudd]]> http://insiderealestatejournal.blogspot.com/2004_01_11_insiderealestatejournal_archive.html#107435579371037377 <b>Mortgage Rates Drop To Record Lows<br /><br />The 30-year fixed rate mortgage dropped to 5.68 percent from 5.87 percent a week earlier, while the 15-year fixed rate mortgage plunged from 5.19 percent to 5.01 percent Jan. 15. This dramatic drop in interest rates broke records, as they haven't dropped to levels this low since July 9, 2003, causing this week's rate decrease to leave rates at six-month record lows.<br /><br />What caused the dramatic drop in rates? Most believe that the main reason is the <i>jobless recovery</i>, meaning that, while American economic productivity has increased, fewer jobs than normal have been added to American job rolls, forcing many to remain unemployed.<br /><br />BankRate.com's Greg McBride told RisMedia.com, "A job hunter's misery is a mortgage hunter's glory." It's hard to argue with that, given that rates continue to remain in the 5 percent range. The low rates allow potential home buyers to potentially spend more on a home than they would be able to, say, if rates were 7 percent or higher.<br /><br />Information from <a href="http://www.rismedia.com">RisMedia.com</a> was used for this report.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-17T16:09:53Z Mortgage Rates Drop To Record Lows

The 30-year fixed rate mortgage dropped to 5.68 percent from 5.87 percent a week earlier, while the 15-year fixed rate mortgage plunged from 5.19 percent to 5.01 percent Jan. 15. This dramatic drop in interest rates broke records, as they haven't dropped to levels this low since July 9, 2003, causing this week's rate decrease to leave rates at six-month record lows.

What caused the dramatic drop in rates? Most believe that the main reason is the jobless recovery, meaning that, while American economic productivity has increased, fewer jobs than normal have been added to American job rolls, forcing many to remain unemployed.

BankRate.com's Greg McBride told RisMedia.com, "A job hunter's misery is a mortgage hunter's glory." It's hard to argue with that, given that rates continue to remain in the 5 percent range. The low rates allow potential home buyers to potentially spend more on a home than they would be able to, say, if rates were 7 percent or higher.

Information from RisMedia.com was used for this report.

-John Mudd]]> http://insiderealestatejournal.blogspot.com/2004_01_11_insiderealestatejournal_archive.html#107416645811508421 <b>Apartment Rental Rates Reached All Time Low In 2003<br /><br />According to Reis, Inc., a New York-based property research firm, the national apartment market reached its highest vacancy rate in 2003. As low interest rates continually transformed renters into buyers, the year end vacancy rate for apartments was at 6.9 percent, up from an earlier 6.5 percent.<br /><br />Experts predict that multi-family properties will see increased activity this year, steadily increasing throughout 2005 and 2006. Returns on multi-family investment properties, such as apartments, are also expected to increase.<br /><br />Information from <a href="http://www.realtor.org/rmomag.nsf/pages/tocprintJan04?OpenDocument">REALTOR Magazine's Weekly Commercial Issues</a> was used for this report.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-15T11:34:18Z Apartment Rental Rates Reached All Time Low In 2003

According to Reis, Inc., a New York-based property research firm, the national apartment market reached its highest vacancy rate in 2003. As low interest rates continually transformed renters into buyers, the year end vacancy rate for apartments was at 6.9 percent, up from an earlier 6.5 percent.

Experts predict that multi-family properties will see increased activity this year, steadily increasing throughout 2005 and 2006. Returns on multi-family investment properties, such as apartments, are also expected to increase.

Information from REALTOR Magazine's Weekly Commercial Issues was used for this report.

-John Mudd]]> http://insiderealestatejournal.blogspot.com/2004_01_11_insiderealestatejournal_archive.html#107413014738290341 <b>Survey Shows Senior Preferences, Plus Tech Savvy In Real Estate Purchases<br /><br />A recent survey conducted by ERA Real Estate consisting of nearly 1,300 people over 55 showed that most seniors are more Internet-savvy than most Realtors thought. The survey showed that while most seniors prefer to tour potential neighborhoods where they want to live, almost 70 percent of seniors surveyed said they used the Internet to conduct their homebuying research. Most seniors said the Internet was the first step taken toward buying a home.<br /><br />In a related story, I have formed working relationships with quite a few seniors who are now my clients by first meeting them online, via e-mail. I love working with them, too.<br /><br />Another misconception about seniors is that the majority of them are relocating to a condominium, townhouse or "adult community." However, this isn't always the case, shows the study.<br /><br />The study was conducted by InsightExpress, a Stanford, Conneticut-based market research firm, on behalf of ERA Franchise Systems, Inc.<br /><br />Information from <a href="http://www.rismedia.com">RisMedia.com</A> was used for this report.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-15T01:29:07Z Survey Shows Senior Preferences, Plus Tech Savvy In Real Estate Purchases

A recent survey conducted by ERA Real Estate consisting of nearly 1,300 people over 55 showed that most seniors are more Internet-savvy than most Realtors thought. The survey showed that while most seniors prefer to tour potential neighborhoods where they want to live, almost 70 percent of seniors surveyed said they used the Internet to conduct their homebuying research. Most seniors said the Internet was the first step taken toward buying a home.

In a related story, I have formed working relationships with quite a few seniors who are now my clients by first meeting them online, via e-mail. I love working with them, too.

Another misconception about seniors is that the majority of them are relocating to a condominium, townhouse or "adult community." However, this isn't always the case, shows the study.

The study was conducted by InsightExpress, a Stanford, Conneticut-based market research firm, on behalf of ERA Franchise Systems, Inc.

Information from RisMedia.com was used for this report.

-John Mudd]]> http://insiderealestatejournal.blogspot.com/2004_01_11_insiderealestatejournal_archive.html#107387258307217990 <b>Freddie Mac's 2004 Predictions<br /><br />Freddie Mac predicts that low mortgage rates combined with rising family incomes will create a strong housing market in 2004, although perhaps slightly less strong than last year's record-breaking robust housing market.<br /><br />New home construction is predicted to slightly slow due to increased interest rates, which Freddie Mac says will likely hover around 6 percent for the 30-year fixed.<br /><br />Information from <a href="http://www.inman.com">Inman News</a> was used for this report.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-12T01:56:23Z Freddie Mac's 2004 Predictions

Freddie Mac predicts that low mortgage rates combined with rising family incomes will create a strong housing market in 2004, although perhaps slightly less strong than last year's record-breaking robust housing market.

New home construction is predicted to slightly slow due to increased interest rates, which Freddie Mac says will likely hover around 6 percent for the 30-year fixed.

Information from Inman News was used for this report.

-John Mudd]]> http://insiderealestatejournal.blogspot.com/2004_01_04_insiderealestatejournal_archive.html#107347794586568193 <b>Pinellas County Developer Gains Approval For Development Project<br /><br />Grady Pridgen, a developer in Pinellas County, Florida, received approval from Pinellas County on Tuesday to develop a piece of vacant land that he purchased from the City of St. Petersburg for $4.9 million. His bid was slightly higher than Pinellas County's bid of $4.6 million.<br /><br />There was some controversy surrounding Pridgen's purchasing and developing the land, due to it being located right beside a solid waste facility run by the county. The county wanted to purchase the land in order to expand the facility. Now that Pridgen owns the land and wants to develop it, this is no longer possible for the county.<br /><br />Pridgen agreed to create a buffer zone between his development, which will consist of new homes, high-tech manufacturing buildings, offices and parking garages. Pridgen says the development will benefit the area economically and he says the homes will allow many residents to live close to where they work. Many believe this sort of mixed used development and re-development is the future of real estate development in Pinellas County and elsewhere.<br /><br />Two county commissioners, John Morroni and Bob Stewart, voted against approving Pridgen's development plan for the land he purchased in Gateway Center. The City of St. Petersburg openly supports the project because it will benefit residents and be good for the local economy, according to Mayor Rick Baker.<br /><br />Pridgen will have to work with the county to ensure that its guidelines for his development are followed.<br /><br />Information from the <a href="http://www.sptimes.com">St. Petersburg Times</a> was used for this report.<br /><br /><a href="http://www.homeintampabay.com">-John Mudd</a> John Mudd 2004-01-07T12:19:05Z Pinellas County Developer Gains Approval For Development Project

Grady Pridgen, a developer in Pinellas County, Florida, received approval from Pinellas County on Tuesday to develop a piece of vacant land that he purchased from the City of St. Petersburg for $4.9 million. His bid was slightly higher than Pinellas County's bid of $4.6 million.

There was some controversy surrounding Pridgen's purchasing and developing the land, due to it being located right beside a solid waste facility run by the county. The county wanted to purchase the land in order to expand the facility. Now that Pridgen owns the land and wants to develop it, this is no longer possible for the county.

Pridgen agreed to create a buffer zone between his development, which will consist of new homes, high-tech manufacturing buildings, offices and parking garages. Pridgen says the development will benefit the area economically and he says the homes will allow many residents to live close to where they work. Many believe this sort of mixed used development and re-development is the future of real estate development in Pinellas County and elsewhere.

Two county commissioners, John Morroni and Bob Stewart, voted against approving Pridgen's development plan for the land he purchased in Gateway Center. The City of St. Petersburg openly supports the project because it will benefit residents and be good for the local economy, according to Mayor Rick Baker.

Pridgen will have to work with the county to ensure that its guidelines for his development are followed.

Information from the St. Petersburg Times was used for this report.

-John Mudd]]>