REAL ESTATE

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Union Investment buys Hamburg mall for $235.5 mln

German real estate fund manager Union Investment said on Tuesday it has bought the Mercado shopping mall in Hamburg for 164 million euros ($235.5 million) in Germany's largest individual property deal so far this year.

US STOCKS-Futures point lower ahead of ISM, housing

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U.S. stock index futures pointed to a lower open on Tuesday as ongoing concerns over the strength of an economic recovery looked set to eclipse a report expected to show U.S. manufacturing expanded in August.

Property Bank-Loan Defaults at 6-Year High

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Defaults of multifamily and commercial real estate loans from banks climbed to their highest rate since at least 2003, as lenders gave up hope of being repaid in full, according to a report by research firm Real Estate Econometrics.
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Fed weighing delayed exit from mortgage purchases

U.S. Federal Reserve officials are thinking carefully about tapering off their purchases of mortgage debt to push the $1.45 trillion program into next year rather than end it on Dec. 31 as planned.
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Option ARMs Put Recovery at Risk

Option ARMs, which accounted for $750 billion in mortgages issued between 2004 and 2007, according to Inside Mortgage Finance, are at serious risk with at least 50 percent already in default.
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U.S. mortgage rates rise slightly: Freddie Mac

U.S. mortgage rates rose slightly in the latest week but still remained at historically low levels that should spur home loan demand and help the hard-hit U.S. housing market recover.
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UK house prices rise at fastest since Dec '06

British house prices rose for the fourth month running and at their fastest monthly rate in 2-1/2 years in August, the Nationwide Building Society said on Thursday, in a further sign the housing market is picking up.
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Homebuilder Toll's Q3 loss widens

Luxury home builder Toll Brothers Inc reported a wider quarterly loss on Thursday, reflecting charges for writing down land values.
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U.S. steadying, housing no longer drags: Fed's Lacker

Richmond Federal Reserve President Jeffrey Lacker was quoted on Thursday as saying the U.S. economy was stabilizing after a painful recession and the shattered housing market will no longer be a drag on economic activity.
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The Trouble With the HVCC

How new rules meant to ensure the integrity of the appraisal process have infuriated appraisers and stymied sales from coast to coast.
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'My House Is Worth More Than That!'

If you know how to price a listing effectively, you're much more likely to succeed in selling that property and making your clients very happy.
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Real Estate Pros See Prices Stabilizing

Real estate professionals say that real estate prices will remain the same for the next six months, according to HomeGain's quarterly survey of professional opinions.
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Fannie Mae sells $2 bln bill at lower rates

Fannie Mae (FNM.N) (FNM.P), the largest U.S. home funding source, said on Wednesday it sold $2.0 billion in bills at lower interest rates than those seen in sales of the same maturities and sizes a week ago.
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U.S. home prices rise for a second straight month

Prices of U.S. single-family homes rose for the second consecutive month in June, exceeding expectations and adding to evidence that the three-year housing slump is easing, Standard & Poor's reported on Tuesday.
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Distressed Real Estate Reaches $114B

The total value of distressed commercial real estate reached $114.2 billion in August, according to the latest issue of the quarterly Distressed Commercial Real Estate Journal. The journal is published by the Distressed Asset Recovery Team--a consultancy formed earlier this year by Beers and Cutler, Delta Associates, Fore Consulting, and BlackwellAdvisors--and uses data provided by several firms i...
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Hanover Marriott sold for $27M, will get $20M upgrade

The Hanover Marriott, an upscale hotel on Route 10 in the Whippany section of the township, has been sold for $27 million to HEI Hotels & Resorts, which will invest $20 million to fully renovate all public and private spaces of the 353-room hotel, according to the NJBIZ reports.
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6 Realities of Doing Business on the Social Web

Perhaps the most remarkable thing about online networking is the wide range of reactions it stirs up. Some real estate professionals swear by it. Others say it's a diversion at best-and an utter waste of time at worst.
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Commercial: Has Time Run Out?

Sales of tenant-in-common interests have plummeted, but don't count the securitized real estate industry out just yet.
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Finding the Perfect Suitor

A tough market can make even the most fiercely independent brokers reconsider their long-term ownership strategy. Here's what to consider before being acquired.
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Specialists Offer Short-Sale Help

Short sales now account for the majority of some real estate agents' transactions. To ensure they have plenty of time to list and show properties, many of these agents are working with short-sale negotiators, who spend much of their time on the phone negotiating with lenders on behalf of sellers.

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