News Alerts, Sept. 5, 2013, Afternoon Edition, 4 New Articles, Real Estate +, Don't Miss Them

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  1. Gov. Cuomo warns of real estate scammers targeting renters | NorthCountryNow

    Caveat Emptor:

    September 1, 2013 – 5:25 pm.

    …some scammers pose as real estate agents or "apartment hunters" who offer to work with a prospective tenant to locate an apartment.

    …scammers often demand that consumers pay money upfront in the form of a deposit, fee and/or first month's rent before attempting to secure an apartment. They will often pressure the victim by appealing to their sense of urgency or special circumstances.

    Once the money is handed over, the scammer usually has no intention of following through or helping the tenant secure an apartment, and refuses to return the consumer's deposit….

    Read the source article … http://northcountrynow.com/news/gov-cuom o-warns-real-estate-scammers-targeting-r enters-094540


  2. Initiative spotlights energy-efficient real estate tenants | GreenBiz.com

    By Yerina Mugica. July 23, 2013.

    Thanks to an award from the new Real Green Research Challenge from CBRE, the world's largest commercial real estate services firm, NRDC's Center for Market Innovation was one of five projects selected by CBRE for the challenge.

    Along with university partner New York University's Center for Urban Science and Progress (CUSP), NRDC is launching a comprehensive initiative to collect and analyze information on tenants' energy usage and provide valuable feedback to commercial office tenants within CBRE's portfolio on how their energy performance compares against that of their peers. Through that process we'll also recognize the nation's top energy performers. We'll do that by developing a rating system for comparative tenant energy use that provides a quantitative foundation for identifying and promoting energy-efficient practices.

    You can use many of the same techniques in residential buildings. They can help to save money. Many features amortize quite quickly.

    Read the source article … http://www.greenbiz.com/blog/2013/07/23/ initiative-highlights-most-energy-effici ent-real-estate-tenants


  3. Mortgage rate increase, however slight, forces buyers to sidelines

    Rather than causing so many fence sitters to jump in to keep the housing recovery momentum, as you so often read on many different websites, rising mortgage rates have caused a slowdown in the market.

    August 30, 2013 1:35 PM. By BLOOMBERG NEWS.

    A surge in borrowing costs to a two-year high is starting to cool demand from homebuyers as higher rates combine with surging prices to reduce affordability, according to data released this week. The biggest pinch is being felt in expensive markets such as Seattle and New York, where budgets already were stretched, leading to a more uneven national recovery.

    Higher rates take the "edge off the froth," said Jonathan Miller, president of New York-based appraiser Miller Samuel Inc. "You can't sustain annual price growth in excess of 12 percent when income is flat, credit is tight and unemployment is elevated," he said. "Those are boom price trends."

    There's already been some impact, according to Ellen Haberle, real estate economist for Redfin, a Seattle-based brokerage.

    A slowdown in the housing recovery has dented homebuilder stocks, which have lost 27 percent since their May high compared with a less than 1 percent loss in the Standard & Poor's 500 Index. Builders catering to first time buyers have been among the hardest hit with D.R. Horton Inc. down 33 percent and KB Home sliding 34 percent.

    It's also encouraged more Americans to lock in rates before they head even higher, with existing sales last month jumping in July to the second-highest level in more than six years.

    More will continue renting.

    Read the source article … http://www.newsday.com/classifieds/real- estate/mor tgage-rate-increase-however-slight-force s-buyers-to-sidelines-1.5986213


  4. Multifamily demand outpaces supply | 2013-08-27 | HousingWire Multifamily demand outpaces supply | 2013-08-27 | HousingWire

    By Megan Hopkins. August 27, 2013.

    As home prices and mortgage rates rise, it will become more difficult for potential homebuyers to purchase a home in light of today's tighter lending standards.

    With homeownership no longer an option for many, demand for rental properties is on course to keep outpacing housing supply, investors in the space say. In fact, according to an infographic put together by Alan Feldman, CEO of Resource Real Estate, a minimum of 240,000 new apartments each year is needed to meet expected demand levels for the next seven years.

    To date, only about 130,000 new apartments are expected to hit the market in 2013. "It's very simple, the only people or companies that satisfy that demand are profit-seeking developers," said Feldman.

    Because this current economic trough is so long, the construction industry lost lots of trained, skilled, experienced workers. It will take time to replace them.

    Read the source article … http://www.housingwire.com/articles/2647 5-multifamily-demand-outpaces-supply


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