News Alerts. Oct. 19, 2013. Morning Edition. #RealEstate

Linking ≠ endorsement. Enjoy and share:

  1. Construction Spending 2013 | New York Building Congress

    Construction spending soared in the boom days of 2007, but those numbers are peanuts compared to what we're on track to see this year.

    Construction spending in New York City is on track to reach $31.5 billion in 2013, a 14 percent jump from last year's $27.6 billion and topping 2007's high of $31.1 billion, according to a forecast from the New York Building Congress, cited by the New York Observer.

    And that number is expected to continue growing, hitting $33.4 billion in 2014 and $37 billion in 2015, said the report, completed along with the New York Building Foundation and with help from Urbanomics.

    Those don't appear to be inflation-adjusted numbers.

    Source … http://therealdeal.com/blog/2013/10/17/n yc-construction-spending-to-top-31-5b-in -2013/


  2. Housing recovery took a minor hit during shutdown | 2013-10-17 | HousingWire

    While the housing forecast remains mostly unchanged, the contentious negotiations that led to Congress temporarily raising the debt ceiling may have a lingering impact on consumer confidence in the housing market.

    Consequently, the housing recovery will be temporarily interrupted, but not derailed, according to Fannie Mae's recent outlook.

    They see mortgage rates at 5% in a year, but the Fed may not have seen the unemployment and inflation rates it wants enough to allow that. We shall see.

    Source … http://www.housingwire.com/articles/2750 1-housing-recovery-took-a-minor-hit-duri ng-shutdown


  3. A Glimmer of Hope for Condominium Developers | Snell & Wilmer L.L.P. – JDSupra

    On September 26, 2013, the House of Representatives took a major step in simplifying the sale and lease process for condominium developments, voting 410/0 in favor of H.R. 2600, introduced by New York Republican Congresswoman, Carolyn Maloney. The bill must now be considered by the Senate and President Obama and, if passed, the Interstate Land Sales Full Disclosure Act ("ILSA") would be amended to exempt the sale and lease of condominium units from the existing registration and disclosure requirements under the statute. This change in federal law would be significant for developers of condominium projects who have, historically, had to satisfy a statutory exemption or comply with rigorous registration and disclosure requirements, even though condominiums were not contemplated when ILSA was enacted in 1968.

    Not all regulation and deregulation is created equal. This may represent good deregulation.

    Read the article for some details. It's very short.

    Source … http://www.jdsupra.com/legalnews/a-glimm er-of-hope-for-condominium-develo-23341/


  4. Housing Market Pushing Toward Healthy Equilibrium – realtor.com

    "Our September data on inventory counts, median list prices, and median time on market has shown another month of steady leveling, but the recovery certainly remains uneven in some pockets," said Errol Samuelson, president of realtor.com®. "Some of the more industrial-based markets clearly continue to struggle, yet others are showing significant price gains over this time last year. While we are pleased to see a continued trend toward a healthy market balance, imminent economic factors could pose a significant threat to these improvements."

    Source … http://www.realtor.com/news/housing-mark et-pushing-further-toward-healthy-equili brium/


If you are an investor in 1-4 unit properties in Arizona, California, Nevada, Oregon, Utah, or Washington, please do the financially responsible thing and make sure you have proper Landlord Insurance with PropertyPak™. We love focusing on real estate and the economy in general, but we are also here to serve your insurance needs.

Hill & Usher (PropertyPak™ is a division) has many insurance offerings. See our menu above for more info and links.

Did this post help you? Let us know by leaving your comment below.

Note: This blog does not provide legal, financial, or accounting advice. Seek professional counsel.

Furthermore, we, as insurance producers, are prohibited by law from disparaging the insurance industry, carriers, other producers, etc. With that in mind, we provide links without staking out positions that violate the law. We provide them solely from a public-policy standpoint wherein we encourage our industry to be sure our profits, etc., are fair and balanced.

We do not necessarily fact checked the contents of every linked article or page, etc.

If we were to conclude any part or parts of our industry are in violation of fundamental fairness and the legal standards of a state or states, we'd address the issue through proper, legal channels. We trust you understand.

The laws that tie our tongues, so to speak, are designed to keep the public from losing confidence in the industry and the regulatory system overseeing it. Insurance commissioners around the country work very hard to analyze rates and to not allow the industry to be damaged by bad rate-settings and changes in coverages. The proper way for people in the industry to deal with such matters is by adhering to the laws, rules, and regulations of the applicable states and within industry associations where such matters may be discussed in private without giving the industry unnecessary black eyes. Ethics is very high on the list in the insurance industry, and we don't want to lose the people's trust. That said, the industry is not perfect; but what industry is?

For our part, we believe in strong regulations and strong regulators.

We welcome your comments and ask you to keep in mind that we cannot and will not reply in any way or ways where any insurance commissioner could rightly say we've violated the law of the given state.

We are allowed to share rating-bureau data/reports and industry-consultant opinions but make clear here that those opinions are theirs and do not necessarily reflect our position.

Subscribe