Wednesday, November 19, 2008

Real Estate News: Courtesy of WSJ.com

Wednesday, November 19, 2008 As of 12:13 AM EST

CMBS Market Begins to Show Fissures The market for debt used to finance commercial real estate tumbled on worries about rising defaults for commercial mortgage-backed securities.

Future of Fannie, Freddie Debated Debate is heating up on the future of Fannie Mae and Freddie Mac as they struggle with heavy losses and investors continue to shy away from their debt.

Companies in Europe Batten Down Hatches Many European real-estate companies are not only disclosing weaker results but also announcing new business strategies designed to ride out the recession.

HSBC Paves a Path in Loan Crisis HSBC was one of the first big banks to signal a subprime-mortgage meltdown. Now, the bank's struggles show the next stage of the crisis: aiding borrowers.

Investors Hit BofA Loan Modifications Investors holding securities backed by Countrywide mortgages are criticizing Bank of America's move to modify loans following a settlement.

Housing Supply Side Needs Reality Test The bailout line keeps getting longer. First came the banks, then insurers and even card companies such as American Express. Now car makers hope for a turn. Where should it end?

Global Financial Fallout Hits Home-Loan Banks Turmoil in the financial markets is buffeting some of the U.S. Federal Home Loan Banks, a prime source of funding for American banks.

Hypo Real Estate Forecasts Grim Outlook Hypo Real Estate reported a larger-than-expected loss in the third-quarter and said its outlook for the remainder of the year and beyond looked grim.

Saturday, November 15, 2008 As of 11:54 PM EST

Freddie's Loss Hits $25.3 Billion Freddie Mac posted a $25.3 billion loss and said it will need a $13.8 billion cash infusion as losses stemming from home-mortgage defaults surge.

Tennessee's Southern Comforts Tennessee offers a combination of relatively low home prices, a warm Southern climate and tourist attractions like the Great Smoky Mountains and Graceland, former home of Elvis Presley. Here is a look at homes for sale in the state.

HUD Unveils New Rules for Mortgages HUD announced new rules aimed at helping Americans shop for mortgages more effectively, but said it lacks powers to enforce those rules

Wednesday, November 12, 2008 As of 11:40 PM EST

Calpers Confronts Huge Housing Losses Calpers is taking a hit from the real-estate market, which is roiling its investments in land and housing projects.

U.S. Steps Up Help for Homeowners Fannie and Freddie will help streamline the modification of loans for potentially hundreds of thousands of homeowners at risk of foreclosure.

What if You Don't Qualify? Struggling homeowners who aren't eligible for a loan modification still have options.

Dubai Faces Hit as Property Boom Fades Dubai's property boom appears finally to be over, with asking prices for some homes falling as much as 19% in October from the previous month.

Casino Empire Takes Fresh Hits Las Vegas Sands' chairman agreed to a financing deal that will further dilute his holdings in his gambling empire.

Where the 'Denominator Effect' Lurks Falling stock prices are leaving institutional investors overexposed to real estate, which could trigger further declines in property values.

Fallout From Crisis Trickles Down Tokyo's office-leasing market has held fairly steady, thanks to low vacancy rates and a general aversion to layoffs. The advantage isn't likely to hold.

TIC Pain One of the biggest arrangers of tenant-in-common, or TIC, investments filed for bankruptcy protection Monday, sending 8,300 individual investors scrambling.

Developer Bets on Buckhead Real-estate development and the credit markets are nearly frozen, but developer Ben Carter seems undaunted as he moves forward with plans to bring his hometown Atlanta its own version of New York's Madison Avenue.

Mountain High Looking for some good options for a late autumn getaway? Tour some second homes in Aspen, Colo., White Sulphur Springs, W.Va., and Turnbridge, Vt., with mountains nearby and family-friendly features.

Citi to Modify Terms for U.S. Mortgages Citigroup offered to modify the terms of as much as $20 billion in mortgages for borrowers who are at risk of falling behind on payments.

Investors Bet $250 Million on HomeAway Several venture investors are betting $250 million that consumers will still use Web sites like HomeAway.com to find vacation-rental properties.

Mall Owner Is Warning of Default Mall owner General Growth Properties warned that its failure to refinance its debt could trigger default on billions of dollars in debt.

Taylor Wimpey Warns of Write-Downs U.K. home builder Taylor Wimpey said it may need to make further provisions at the end of the year against its land and work in progress.

Fannie May Need Treasury's Help Fannie Mae, hit by growing home-mortgage defaults and falling home prices, reported a $29 billion loss for the third quarter and said it may need a cash infusion from the U.S. Treasury by year end.

Saturday, November 8, 2008 As of 11:30 PM EST

Trump Files Suit Against Lenders Donald Trump filed suit against the lenders on his unfinished Chicago skyscraper.

Analysts Think Worst Is Yet to Come The Los Angeles property market is looking more earthbound, as the global financial crisis is beginning to play itself out in the region's real estate.

Slow Mortgage Start The federal government's latest effort to help financially distressed homeowners is getting off to a slow start.

Can Home Builder Be Trusted? A reader is tempted to enter a model lease-back deal, but wonders about the builders' financial volatility.

Homeowners Wait as Relief Plan Drags The White House and FDIC are at odds over basic elements of a federal foreclosure-prevention plan.

J.P. Morgan in Huge Effort to Save Mortgages J.P. Morgan launched an ambitious plan to modify the terms of $70 billion in mortgages for borrowers who are behind on their payments or soon could be. The move will cover as many as 400,000 borrowers.

FDIC Plan Tests Limits of Leniency IndyMac Federal Bank has become a laboratory test of whether the FDIC's aid program can keep people in their homes.