1. Moody's Finds Commercial Property At 2002 Prices [
Wall Street Journal]
An index compiled by Moody's Investors Service found that prices of commercial real estate have, on average, returned to levels seen seven years ago. The Moody's/REAL Commercial Property Price Index declined 3.9% in September to 109.61 from 114.06 in August. Based on the index, prices for commercial real estate were 37% lower than in September 2008 and 42.9% below the peak measured in October 2007. The index is based on repeat sales of the same properties across the U.S. at different times.
2. Allstate Favors Corporates Over Munis, Real Estate (Update1) Share Business [
Bloomberg]
Allstate Corp., the largest publicly traded U.S. home and auto insurer, is investing in corporate debt as it reduces commercial real estate and municipal bond holdings.
3. State: David Crisp Banned From Real Estate For Three Years[
Bakersfield.com]
The California Department of Real Estate has barred former real estate agent David Crisp from working in any real estate-related field for three years. The ban applies to all real estate firms, including lenders, banks, escrow companies and title companies. It became effective at noon Monday, the same day the state announced its order.
4. Go Ahead and Yell. He's Everyone's Punching Bag. [
New York Times]
Norman J. Radow brings out the worst in some people. They scream at him. They sue him. He has even been punched in the face. What has he done to deserve this? In a word: workouts. As founder of Radco Development Solutions, Mr. Radow is on the firing line in the continuing battle over failed residential real estate deals. Banks hire him to resurrect developments gone awry, particularly those half-empty condominium towers and gated communities that sprang up like weeds during the boom and are now in foreclosure.
5. Residential Sales Around the Region [
New York Times]
A comparision of recent residential sales by region and price range.
6. Hilfiger Sells in Greenwich, 'Twilight' House For Sale [
Wall Street Journal]
The "New American Home" becomes a poster child for the building industry's woes. Meanwhile, here's a look at some high-end finished homes making news this week including one from Tommy Hilfiger.
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