Lynchburg, VA Real Estate News

By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
2013 Top Brokers   Most of the top commercial real estate brokerage firms grew their businesses in 2012, in comparison with 2011 volumes. When looking further back, total transaction volumes—which include the total value of all leasing and investment sales transactions each firm completed globally—are up dramatically from 2010. But the pecking order remains the same. The top 10 shuffled a bit with the completion of last year’s merger of Newmark Knight Frank and Grubb & Ellis to create Newmark Grubb Knight Frank. That enabled the company to jump from sixth on last year’s list to fifth on this year’s. In fact, most firms’ positions in the top 25 were about the same as they were a year ago. In that vein, CBRE Group leads the pack again. The firm reported a total volume of $189.50 billion ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
New Property Markets Popping Up Top real estate markets like San Francisco, Seattle and Boston have benefitted from favorable demographics and buoyant economies during the recovery. But what about, say, Oklahoma City? Tech and energy booms and population shifts are spreading recovery to a growing list of secondary and tertiary real estate markets—including the capital of Oklahoma—according to “The Top Trends and Markets to Watch in 2013,” a new report from the researchers at commercial real estate brokerage firm Sperry Van Ness International Corp.   “We didn’t focus too much on the big six markets,” says Diane Danielson, chief platform officer at Sperry Van Ness. “A lot of the big six markets have matched the peak of before the recession.” That means that places like New York City and ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Housing becoming hot, again? By Froma Harrop Richmond RegisterApril 17, 2013, 12:50:04 AM EDT Another housing boom? N-o-o-o! Housing starts are now inching up. Mortgages are easier to obtain. Even the “piggyback loan” has returned. That lets you take two mortgages at the same time and get around having to buy mortgage insurance when borrowing more than 80 percent of a home’s value. “Housing Is Back!” hollers the cover of Money magazine. And time to lock up friends and relatives with short memories. While we’re at it, let’s lock up the government and its compulsion to push homeownership. Note that Fannie Mae and Freddie Mac still subsidize the financial industry with taxpayer-backed guarantees on mortgages – in the name of turning more Americans into homebuyers, of course. The housing m...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Know Your Rights When Buying Real Estate BUSINESS WIRE Business Wire CanadaApril 16, 2013, 10:46:16 PM EDT April 16, 2013 02:33 PM Eastern Daylight Time  WASHINGTON--(BUSINESS WIRE)--As the spring home buying season begins, the American Land Title Association (ALTA) reminds consumers of the importance of title insurance when purchasing real estate and protecting their rights to property. “Title insurance professionals research the history of a property by scouring through public records to determine whether title problems exist” "For most Americans, our home is the single largest financial investment we make,” said ALTA president, Frank Pellegrini. “More importantly, it’s where we raise our families, share time with friends and live our lives. While ownership of our home may seem very ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
A Step-by-Step Guide to Start Investing in Real Estate Long Term So, the idea of investing in real estate long term intrigues you. You aren’t looking to get rich by next Wednesday with no money or credit like that guy holding the huge check in the infomercials. Instead, long term real estate investing makes rational sense. All it promises is that if you invest your hard saved capital into quality properties leased to great tenants you can pay them off over time and create a retirement income stream. And that income stream can give you the freedom to pursue the life you want – whatever that entails. But that’s easier said than done. There are so many moving pieces to the long term real estate investing puzzle and putting them together can become overwhelming for an investor that’s just ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Sometimes it seems as though the home of every Hollywood celebrity or sports star that’s for sale is featured prominently on Access Hollywood or the Wall Street Journal. The fact is that many choose a legal, ethical and controversial way to keep photos of their homes and their asking prices secret from all but those who might be interested in buying. You’ll never see them on the popular real estate Web sites. Virtually all real estate sites from the national aggregators like Zillow to your local real estate agent’s site are based on databases of property listings created by the nation’s 900 multiple listing services. Most of these are owned and operated by local Realtor organizations and they were first created about 150 years ago as a way for real estate brokers to share their listing...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Profiles | April 15, 2013 | CFO Magazine In 2006, when U.S. housing prices peaked, Toll Brothers saw its annual revenues reach an all-time high of $6.1 billion. But when prices plummeted and the recession ensued, sales fell for the luxury-home builder, resulting in four straight years of operating losses. Like so many other companies in the housing industry, Toll Brothers had to make layoffs, nearly 5,000 in all. “As painful as those were, it was the right thing to do when there wasn’t enough work to go around,” recalls CFO Martin Connor. But unlike so many other companies in the housing industry, Toll Brothers maintained a strong balance sheet, and as the economy gradually recovered, its business revived. In 2012, the housing market picked up steam, and the publicly traded builder reco...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Top States in the US Experiencing Population Growth Between 2000 – 2010 By: Jausan   Jr.SANTA CLARITA, CA, USA | Wed Aug 22, 2012 9:36 am PST     During the last decade from 2000 – 2010, the United States experienced a population shift driven largely by the real estate boom.  Historically in the decade prior to that  from 1990 – 2000, the population shifted due to drivers such as employment opportunities in the technology field that causes population expansion in places such as Redmond, Washington, Palo Alto, California, San Jose, California, Irvine, California, and even Dallas, Texas.  The growth had more to do with people relocating for better employment opportunities and higher wages in the technology sector more so than what occurred in the following decade.     During the decade d...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Redfin Publishes Ranking Of Real Estate Markets Most To Least Vulnerable To Another Housing Bubble SEATTLE, April 12, 2013 /PRNewswire/ -- Technology-powered real estate broker Redfin (www.redfin.com) today released a ranking of U.S. real estate markets based on vulnerability to a new housing bubble. While the overall housing market is hot and getting hotter, the analysis concludes that it is not currently in a bubble. This conclusion is based on trends from the peak in 2005 and 2006, compared to those in spring 2013. "Nationwide, we're not in a bubble," said Redfin CEO Glenn Kelman . "Too many sales have been all-cash for people to get in over their heads, and sales volume is still nearly 40% below the 2005 peak. But markets likeWashington DC and Los Angeles, where prices have increas...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
CCIM Institute Releases First-Quarter National Market Trends Report for Commercial Real Estate Industry CHICAGO, April 10, 2013 /PRNewswire-iReach/ -- The commercial real estate industry continues to show robust and consistent growth, despite a sluggish economy and the indecision of governmental sequestration, according to the latest CCIM Quarterly Market Trends report. CCIM Institute (www.ccim.com), one of the largest commercial real estate networks in the world, released the results today in partnership with the National Association of REALTORS®. The report features the findings of CCIM's 13,000 influential, industry-leading members. The report shows that in 2012, commercial real estate investment sales increased for the fourth consecutive year, with an uptick of 18 percent year-over...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Psalm 103:2-6  Praise the LORD, my soul, and forget not all his benefits— who forgives all your sins and heals all your diseases, who redeems your life from the pit and crowns you with love and compassion, who satisfies your desires with good things so that your youth is renewed like the eagle’s. The LORD works righteousness and justice for all the oppressed.  
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Commercial Real Estate Update U.S. chain-store sales up 1.6 percent in March U.S. chain-store sales posted a modest gain of 1.6 percent year on year for March, according to ICSC’s index. ICSC Research had expected higher growth because of an earlier Easter this year, but extraordinarily cooler weather across the U.S. compared to March 2011 proved to be a drag on sales. “Sales numbers over the past two months have been softer due largely to cooler weather patterns,” said Michael P. Niemira, vice president of research and chief economist for ICSC. “I am optimistic that April’s numbers will have a more positive outlook, as warmer temperatures should drive demand for seasonal apparel.” ICSC research anticipates that the April sales pace will increase by about 2 to 3 percent. Landlords ponde...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Determining your worth in your industry Every now and again, as independent business owners and entrepreneurs, we may question our services and value that should be attached to said services. Who is it that said that “my time is worth a million dollars an hour, but I haven’t found the person willing to pay that yet?” Was it Mr. Buffett? Am I just making that up, because it sounds like something awesome he would say? He definitely said “Price is what you pay. Value is what you get.” Think about that, because it will make sense later… Well, in a networking meeting two days ago, my colleagues were in a deep discussion about how much they should be billing for their particular trades. Should it be the industry standard? Should they do the work job-by-job? Should they consult with other folk...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
NEW YORK, Oct. 3, 2012 /PRNewswire/ -- The U.S. commercial real estate (CRE) recovery, although slow, is visibly  improved in fundamentals, capital availability, asset pricing and transactions, according to Deloitte'sCommercial Real Estate Outlook: Top 10 Issues in 2013 report released today. While the global economic slowdown continues to hinder development, CRE players are finding growth in alternative mechanisms such as technological innovation. According to Bob O'Brien, vice chairman and Deloitte's real estate sector leader, "Overall, we are seeing recovery in commercial real estate activity; however, the pace of recovery is likely to be more modest across several property types until the broader economy picks up. Sustainability is gaining a lot of traction in the real estate indust...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Need for Extra Cash, Tax Implications of Dipping Into Savings Top 2013 List of Taxpayer Dilemmas SOURCE: H & R Block     April 11, 2013 09:00 ET   Top Five Taxpayer Questions Range From Canceled Debt to Military Residency Issues KANSAS CITY, MO--(Marketwired - Apr 11, 2013) -  To get the pulse of how taxpayers see their financial situations, all one has to do is step inside one of the 11,000 H&R Block (NYSE: HRB) offices or scroll through the help section on its At Home solution. As the 2013 tax season comes to a close, The Tax Institute at H&R Block unveils some of the top taxpayer questions. In prior years, unemployment, foreclosures and dependent care questions from the sandwich generation dominated the question queue. This year, the questions are about military residency, canceled ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
New math for home affordability By e2wadmin     Google ranked this in the top 10 today and you will see why. NEW YORK (Reuters) – Looking to buy a home? Figuring out how much house you can afford is about to get more complicated as the housing market emerges from crisis. Right now, market conditions are almost ideal for those who have the income to buy, because interest rates are low and while home prices are rising, they are coming off significant lows. But these ideal terms apply only to those who buy now and plan to stay in a house for 30 years, with a fixed-rate mortgage. For those who are just thinking about buying, who are considering adjustable mortgages or who might move within the 7-year average ownership period, they could end up back in the same trouble that caused the 2008 ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Sellers Becoming Confident in the Housing Market, Providing an Optimistic Outlook for the Housing Recovery Realtor.com March data indicates that the amount of homes on the market showed a modest increase since February 2013 SAN JOSE, Calif., April 10, 2013 /PRNewswire/ -- Realtor.com, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), today released its March data on the U.S. housing market that shows growing optimism and confidence among potential sellers. Realtor.com's March 2013 data indicates that while national housing inventory decreased 15.22 percent since last year, the number of listings increased 2.36 percent since February 2013. This month-over-month increase indicates a renewed willingness in sellers to put their homes on the market as list prices incre...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Commercial Real Estate Market Shows Signs of Stability for Investors CCIM Institute Releases First-Quarter National Market Trends Report for Commercial Real Estate Industry CHICAGO, April 10, 2013 /PRNewswire-iReach/ -- The commercial real estate industry continues to show robust and consistent growth, despite a sluggish economy and the indecision of governmental sequestration, according to the latest CCIM Quarterly Market Trends report. CCIM Institute (www.ccim.com), one of the largest commercial real estate networks in the world, released the results today in partnership with the National Association of REALTORS®. The report features the findings of CCIM's 13,000 influential, industry-leading members. The report shows that in 2012, commercial real estate investment sales increased fo...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
How Do You Know When It’s a Seller’s Market?   If you are planning to buy or sell a house this spring, it’s a good idea to know what kind of market conditions you’ll encounter.  Will it be tough or easy to negotiate?  Will you likely encounter competing offers?  Will homes sell quickly or linger for months?   These and other questions important to your plans are determined by whether you are in a “buyer’s” or “seller’s” market.  A buyer’s market occurs when there are more houses for sale than there are buyers.  A seller’s market is just the opposite; there are more buyers than there are houses.  Prices tend to fall in buyer’s markets due to weak demand and over supply.  Prices rise in seller’s markets due to strong demand and inadequate supply. Since 2007 most markets in America have b...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Housing Recovery for Real, According to 71% of Lenders in FICO Survey Home price gains expected to stick and mortgage defaults expected to drop; banks turning to Big Data analytics to know their customers better   Download image   SAN JOSE, Calif., April 9, 2013 /PRNewswire/ -- In its quarterly survey of U.S. bank risk professionals, FICO (NYSE: FICO), a leading predictive analytics and decision management software company, found lenders more bullish on the housing recovery than at any point in three years, with 71 percent of respondents saying home prices are "rising at a sustainable pace" in the context of mortgage lending risk. In addition, 39 percent of respondents are expecting mortgage delinquencies to decrease over the next six months, while another 45 percent expect delinquenci...
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