5 housing predictions from a property-level profile of underwater homeowners

Here's part of the story.

Takeaways: There are still 7.4 million who owe at least 25 percent more on their home than what it is worth -- representing 13 percent of all homeowners with a mortgage. 30 percent of underwater homeowners don't live in their home, which could mean that more single-family rental inventory will become available. The average loan-to-value ratio is 182 percent, which might mean that the underwater problem could linger for at least another five years.  The shrinking pool of underwater homeowners continues to have an important impact on the U.S. housing market. Using the property-level data behind RealtyTrac's latest Home Equity and Underwater Report, we profiled the 7.4 million U.S. homeowners still seriously underwater to make five housing market predictions relating 

When a 1790s Farmhouse Collides With a 1990s Contemporary

Here's the story from Fox News.

From the road, this 1790s Federal-style farmhouse looks much like it did a couple of centuries ago when it was constructed. But get a little closer and you'll see more details, specifically a contemporary addition completed in 1992 by noted New York architect Peter Gluck.
The $1.75 million home in central New York spans 5,873 square feet with six bedrooms and five bathrooms. It's sure to appeal to history lovers and those looking for a more contemporary style.
The original house is on the New York State and National Register of Historic Places. The owners, who have had the house for 40 years, wanted to maintain the home's historic integrity, explains listing agent Christy Dahms. "The original farmhouse has been restored beautifully," she notes.

Why Real Estate Could Be a Better Investment Than Stocks

Here's the story from US News and World Report.

Once you're on track with your financial goals – such as retirement contributions or repaying student loan debt – you may find yourself exploring real estate investments in lieu of the stock market. Buying real estate as an investment can be lucrative, but it's also cash-intensive and carries risks.

As you weigh your options, consider the following points in your analysis.

Risk versus expected returns. Whether putting cash into the market or purchasing real estate, you need to assess the risk versus the expected returns. Traditional equity investments are much easier to analyze in this way. You have historical data, and although past performance is not indicative of future results, you have a bit more control over how much risk you're exposed to when deciding what amount to invest, the asset allocation and so on. Investing in single stocks versus an index fund is a calculated risk some are willing to take in search of higher expected returns.

Where to invest in housing: Rent or own?

Here's part of the story from CNBC.

  The U.S. home ownership rate is now at its lowest point in nearly half a century, which has investors asking if that's by default or choice?
Certainly the recent recession has left fewer young Americans in a position to afford home ownership, but the argument is equally strong that young millennials, as well as downsizing baby boomers, prefer the financial and physical flexibility of renting. So which is the better bet: stocks of the nation's homebuilders or stocks of multifamily real estate investment trusts (REITs)? 

More Homeowners Underwater

Here's more from CNBC. 

Home prices are still rising, and the economy is improving, but the ills of the housing crash are far from cured: 7.4 million borrowers were still "seriously" underwater on their mortgages at the end of June, according to RealtyTrac.
The real estate information company defines that as the loan amount being at least 25 percent higher than the property's estimated market value.
Over 13 percent of all properties with a mortgage are in this predicament, and that is actually a slight increase from the first quarter of this year. 

Flip this House Event

There's an event in Chicago in November. 

Crain's Confused on Direction of Real Estate in Chicago

First,here's part of a story from August 18, 2014 from Crain's Chicago Business.

The metastasizing problem of unfunded pension obligations hasn't prevented real estate investors from plunking down big sums — even record-breaking ones — to snap up property in the Chicago area.

Photo by Jaysin Trevino via Flickr.com

The possibility of substantial tax increases to pay for the city's and state's unfunded pension obligations hasn't prevented real estate investors from plunking down big sums—even record-breaking ones—to snap up property in the area.
“I think it's an issue, but I don't think it's stopping anyone from investing in Chicago,” says Mark Stern, senior vice president of acquisitions at Waterton Associates LLC, a Chicago-based hotel and apartment investor whose local properties include Presidential Towers in the West Loop.

In February, for example, a New York financial services firm snapped up a small retail building on Oak Street for about $19 million, or nearly $3,000 per square foot. In May, a California company announced it would pay a record $850 million for a River North office tower. And last month, a Los Angeles apartment firm dropped $78 million for an apartment complex in Arlington Heights, the highest price for a multifamily property in suburban Chicago since February 2013. 

Here's another story from November 2013, 

Real estate investors are slightly warming up to Chicago, but they still think a host of other cities are hotter.

The Chicago market's score inched up to 6.11 this year from 6.05 in 2012, according to the annual “Emerging Trends in Real Estate” report published by the Urban Land Institute and PricewaterhouseCoopers LLP.

Yet the local market remains stuck in place when compared to other large metropolitan areas, ranking 12th out of 15, the same as last year.

In Chicago, “the investment and development outlook remained virtually unchanged from 2013 to 2014,” with many respondents indicating they think next year will be one to simply stand pat on their assets in the region, the report says.

Looks like two very different messages in the span of nine months from the same news organization with no explanation of the sudden shift.

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A major makeover underway at Park Lincoln apartments

Here's the scoop from Yo Chicago.


Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages, Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA ,Show Me Local, B 2 Bye Yellowpages, Biz Wiki, QC Times, Facebook page, twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools, NWI Times, Chicago At Home, Brush News Tribune, Olney Daily Mail, Santa Fe Mexican, Reporter Herald, PJ Star, Canton Rep, Post Gazette, US Biz Place, My Motherlode, Vail Daily, Tuff Stuff, Totally Local

River North Apartment Tower Has New Name & Renderings

Here's the story from Curbed Chicago.

The new apartment tower that developer Fifield Companies is planting near the former Cabrini-Green site has a new name: Avant. Short, but sweet. The tower itself will not be as short, as it will stand at 28 stories when it is eventually completed. Designed by Pappageorge Haymes, the sleek glassy structure will deliver 306 new apartments to the booming River North neighborhood. The tower will feature a host of usual amenities found in newer downtown luxury apartment towers such as an outdoor pool and spa, outdoor fire pit, outdoor grill kitchens, a gym and screening room. No word just yet on rent prices or completion timeline. The former Cabrini-Green area is rapidly changing and developers are quickly pushing in. Expect to see big changes to happen in the following months. 

Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages, Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA ,Show Me Local, B 2 Bye Yellowpages, Biz Wiki, QC Times, Facebook page, twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools, NWI Times, Chicago At Home, Brush News Tribune, Olney Daily Mail, Santa Fe Mexican, Reporter Herald, PJ Star, Canton Rep, Post Gazette, US Biz Place, My Motherlode, Vail Daily, Tuff Stuff, Totally Local

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