Friday, January 25, 2008

OFHEO NEWS RELEASE


For Immediate Release
January 24, 2008


STATEMENT OF OFHEO DIRECTOR

JAMES B. LOCKHART ON CONFORMING

LOAN LIMIT INCREASE



We are very disappointed in the proposal to increase the conforming loan limit as we believe it is a mistake to do so in the absence of comprehensive GSE regulatory reform. To restore confidence in the markets we must ensure that the GSEs’ regulator has all the necessary safety and soundness tools.

Yesterday Chairman Dodd talked about moving a GSE reform bill early this year. We are ready to work with him and the Senate Banking Committee. We will also be working with Fannie Mae and Freddie Mac to ensure that any increase in the conforming loan limit moves through their rigorous new product approval process quickly and has appropriate risk management policies and capital in place.

###


OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae and Freddie Mac.

Monday, January 21, 2008

National Commercial Real Estate News 1/21

Below is the weekly email I receive for National Commercial Real Estate News - 1/21/08

Albany
Kelley to Prime Cos. after 30-year career in economic development

Albany
Rosen, Amedore mixed-use project on Colonie drawing board

Albuquerque
Real Estate Briefs: Copper Square adds retail to Downtown

Albuquerque
Carom Club owner opts for 'quality' with new look, menu

Atlanta
Deloitte to increase space at downtown tower

Atlanta
Atlanta Business Chronicle 30th Anniversary: John Portman put his mark on city's skyline

Atlanta
Buckhead Hilton may rise in '08

Atlanta
Real Estate Notes: Veteran broker Granot setting up own shop

Austin
Fertile ground: More office developers eye Round Rock

Austin
In brief

Austin
Rents rising, more space available than ever, so what gives?

Austin
Sound off

Austin
Southwest gets office boost: Building is third site for Koontz McCombs

Austin
Dallas real estate veteran heads for Oxford in Austin

Austin
Lance Armstrong Foundation finds new east side digs

Baltimore
Computer Sciences Corp. leases Essex building for Census contract

Baltimore
Real Estate & Economic Development: Scarlett Place gets facelift

Baltimore
Struever group bringing club to D.C. waterfront

Baltimore
City law firm chooses Arundel for HQ

Birmingham
Renasant to open branch in U.S. 280 American Family site

Birmingham
Ross Bridge to get 240 apartments

Boston
Insider View: Real estate derivatives slowly but surely gain ground

Boston
Commercial real estate sales activity near a standstill

Boston
Measured commercial growth to continue in 2008

Boston
Blackstone plans sale of Burlington office bldgs.

Boston
Real Estate Roundup: NAI Hunneman restructures equity to reward talent

Boston
Insider View: New law calms the waters for tidelands development

Boston
Big plans on campus: Colleges and universities become a driving force in development as schools shore up capital campaigns and position themselves to compete

Boston
Insider View: South Shore snapshot shows an intense buyer's market

Buffalo
Inside Real Estate: FBI expects to remain in downtown Buffalo

Buffalo
Real estate overview has positive overtones

Buffalo
Protection experts

Buffalo
Addressing the drop

Charlotte
Office lease rates set a new mark as uptown leads way: Tight center city market pushing more tenants to suburbs; lease rates across area rise as result

Charlotte
Big west-side projects could hinge on city road deals

Charlotte
Real Estate: City Council to consider range of Branch developments

Charlotte
Around the Region: Manufacturer expands with relocation to Fort Mill facility

Charlotte
Developers target key tract in heart of NoDa: Investment in new residential community could reach $100M

Cincinnati
No wild highs means no wild lows: As hot markets plummet, local home values among safest

Columbus
Franklinton nabs 600 jobs through state office consolidation

Columbus
Housing development will give urban Harrison West area a park

Dallas
HQ and 800 jobs up for grabs

Dallas
In first decade, Victory Park produced $6M for tax district

Dallas
Real Estate: Markets overreacted to subprime mess, Forbes says

Dallas
'The killer app': Stream Energy on track to hit $1 billion in sales this year

Dallas
Pioneer inks huge lease deal in Williams Square

Dallas
Retail & Hospitality: Weitzman Group feeling bullish

Dallas
Dallas' Dunhill buys Houston retail center for $102M

Dayton
Panel dubs WPAFB as 'significant economic driver for community'

Denver
16th Street Mall retail site getting ready for Democrats

Denver
Additional products helped CHFA rise to record in '07

East Bay
Penumbra moves to Alameda site

East Bay
City spotlight: Emeryville

Greensboro/Winston-Salem
Brown Investment Properties expands into W-S

Greensboro/Winston-Salem
Potential industrial project considered in SE High Point

Honolulu
City's Class A office rents top $3 for first time since the 'bubble'

Honolulu
Scoops: Two new downtown medical buildings now appear likely

Honolulu
Hawaii maintains strong attraction to national retailers

Houston
Lease of the month: Dow Center to shift to Energy Corridor

Houston
Commercial real estate briefs

Houston
Sterling Bank signs major lease for headquarters relocation

Houston
Face to face with...: Jason S. Baker

Houston
More HP space hits selling block: Computer giant keeps shrinking at once-bustling site

Houston
Commercial brokers betting on steady market

Houston
Houston Heritage: Houston Heights a highlight in city's architectural heritage

Houston
Dallas firm dips deeper with Fountains purchase

Houston
Swelling Realtor ranks crowd market

Jacksonville
Louis Vuitton

Kansas City
Summit Technology Center

Kansas City
Newsmaker: Arnold renders life that blends his passion and profession

Kansas City
National Nuclear Security Administration

Kansas City
CenterPoint-KCS Intermodal Center

Louisville
$25 million industrial complex under construction

Louisville
Barrister wants to build 25-story tower downtown: $130 million project could provide space for Humana

Louisville
Keys to the future: PMR Cos. redefines its property-management goals as company's growth continues

Louisville
La Grange doctor opens office space for medical, other services

Memphis
Centrepot expanding, relocating HQ: Logistics firm signs new lease in Eastpark Distribution

Memphis
White Station upgrades paying off: Improvements help raise occupancy 10% at East Memphis tower

Memphis
Bred in construction: Construction background serving Jeb Fields well in commercial real estate

Milwaukee
Ready to take over the family business: Greg Marcus set to run movie theater, hotel firm

Milwaukee
ATC plans $20 million Pewaukee office building

Milwaukee
Stark Investments may build St. Francis office complex

Milwaukee
Real Estate Roundup: Towne affiliate plans $40 million Mequon condo project

Milwaukee
Despite banking slump, Baird expands research

Minneapolis / St. Paul
Real Estate Digest: Warehouse District office bldg. sold

Minneapolis / St. Paul
Winner's Circle Profile: Ben Marks

Minneapolis / St. Paul
IVG enters market with $50.3M purchase of Opus building

Minneapolis / St. Paul
Winner's Circle Profile: Tom Drees

Nashville
Great Escape makes midtown shift

Nashville
Columbia draws $6.5M medical office building

Nashville
TDK sees Murfreesboro as ripe market for assisted living facility

Orlando
Lamm & Co. to build Maitland brownstone project: $24M office development aimed at small professional firms.

Orlando
Belk out, opportunity in at West Oaks Mall

Orlando
Fountain Parke could get commercial development: Developer's Web site shows plans for 158,000 SF of retail/office.

Philadelphia
$7M will be invested to reposition Crowne Plaza hotel

Phoenix
Real estate brokerage creates edge with analytical program

Pittsburgh
Newcomer makes big splash on local development scene

Pittsburgh
Squirrel Hill firm in $19M deal to buy Cranberry flex park

Pittsburgh
Hill District development firm owes $295,000 in back taxes: Federal, state filings stretch over several years

Pittsburgh
Report: Pittsburgh top metro in home price appreciation

Portland
Church of Scientology plans Stevens makeover

Sacramento
City of the state: State government has a huge presence in downtown Sacramento, but only during working hours. The trend toward expanding its office space throughout the region might be healthier overall for downtown's economy

Sacramento
Views from the top: Lease rates rise the closer offices get to the roof

Sacramento
Office market struggles: One broker says leasing activity is lowest in past 11 years

San Antonio
Five Minutes With: Cathy Goodwin - 'Moving bank REO'

San Antonio
New office building is set to rise in S.A.: Developer Darren Casey unveils plans for latest project

San Antonio
Austin architectural firm will expand into the Alamo City

San Francisco
Tishman tower bags DLA Piper: Law firm set to go first

San Francisco
Last furniture biz gets heave-ho at S.F. Mart

San Francisco
Dot-com bellwether's lease heralds comeback in SoMa

San Francisco
Real estate: Reilly spices up his little slice of downtown S.F.

San Jose
Well-known real estate broker moves from Cornish to Colliers

San Jose
Leveling off: Construction cost hikes taper, but times uneasy

South Florida
Secrecy shrouded Seneca park sale: Tax loophole angers county appraisers as revenue drops

South Florida
New mortgages weren't so bad, Federal Reserve Bank study says

South Florida
Lennar offers units for sale at bulk price

South Florida
Lynne Wines returns to lead CNLBank in South Florida

St. Louis
Landlords try mixing Craigslist, Highway 40 panic

St. Louis
Frossard, Kuna lead new industrial growth in Dupo

St. Louis
BJC finally decides: It's Shiloh: Miles, Shelton selling 111 acres to health system

Tampa Bay
Fairest in Florida: Tampa office market outshines others

Tampa Bay
Avion Park bringing new flavor to Westshore

Tampa Bay
Building to get makeover, bank tenant and new name

Tampa Bay
Holiday Centre sale tops latest transactions list: Coca-Cola, Goodwill renew local leases

Tampa Bay
Texas now tops as most likely destination for fed up Floridians on the move

Tampa Bay
Unexpected positives provide glimmer of residential market hope

Washington, D.C.
Commercial Real Estate Week: Industry Notes: News, Trends & Resources

Washington, D.C.
Economic Development: Waterfront project to be green model

Washington, D.C.
Commercial Real Estate: Slowing market opening doors for smaller tenants

Washington, D.C.
Economic Development: Latest plan adds library to NE project

Washington, D.C.
Economic Development: Lerner cooks up plans for Manassas project

Wichita
WaterWalk executives hope to lure more tenants with latest lease announcement

Friday, January 4, 2008

The Oprah Effect

I'm watching the results of the Iowa Caucuses and hearing the claims of the "Oprah Affect" for Mr. Obama, which may or may not be true at this point. But, what I continue to remind my family and friends about is one thing. All this "ruckus" will determine who controls the largest checkbook in the world. The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money.

A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases.

  1. A billion seconds ago it was 1976 (31.71 yrs ago).
  2. A billion minutes ago Hadrian was Emperor of Rome (105 A.D.).
  3. A billion hours ago our ancestors were living in the Old Stone Age (112,147 BC).
  4. A billion days ago no-one walked on the earth on two feet (2,737,718 BC).
  5. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

While this thought is still fresh in our brain, let's take a look at New Orleans. It's amazing what you can learn with some simple division.

Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans. Interesting number, what does it mean?

  1. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you each get $516,528.
  2. Or, if you have one of the 188,251 homes in New Orleans, your home gets $1,329,787.
  3. Or, if you are a family of four, your family gets $2,066,012.

Washington , D.C .. HELLO!!! ... Are all your calculators broken??

Not one of these taxes existed 100 years ago:

Accounts Receivable Tax, Building Permit Tax, CDL License Tax, Cigarette Tax, Corporate Income Tax, Dog License Tax, Federal Income Tax, Federal Unemployment Tax (FUTA), Fishing License Tax, Food License Tax, Fuel Permit Tax, Gasoline Tax, Hunting License Tax, Inheritance Tax, Inventory Tax, IRS Interest Charges (tax on top of tax), IRS Penalties (tax on top of tax), Liquor Tax, Luxury Tax, Marriage License Tax, Medicare Tax, Property Tax, Real Estate Tax, Service charge taxes, Social Security Tax, Road Usage Tax (Truckers), Sales Taxes, Recreational Vehicle Tax, School Tax, State Income Tax, State Unemployment Tax (SUTA), Telephone Federal Excise Tax, Telephone Federal Universal Service Fee Tax, Telephone Federal, State and Local Surcharge Tax, Telephone Minimum Usage Surcharge Tax, Telephone Recurring and Non-recurring Charges Tax, Telephone State and Local Tax, Telephone Usage Charge Tax, Utility Tax, Vehicle License Registration Tax, Vehicle Sales Tax, Watercraft Registration Tax, Well Permit Tax, and Workers Compensation Tax.

and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.

What happened? Can you spell 'politicians!'