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We are your Western Montana Real Estate specialists. With office locations in Missoula, Hamilton, Polson, Kalispell, Meadow Lake, Libby, Deer Lodge and the Southgate Mall in Missoula.Lambros ERA Real Estate Phone: 406-532-9200 Toll Free: 888.735.sold Fax: 406-532-9330
Institutional Investors Watching Construction Levels Carefully to See How New Crop of Projects Affect Apartment Pricing
By Randyl Drummer
April 7, 2014
With apartment rents rising quickly in many markets and the single-family home market on the mend, the spreading housing recovery is reviving interest in the long-dormant condominium market. Although still a novelty in most markets, multiple large condo projects are under way in Boston, Washington, D.C., Chicago, especially New York City — and even in former housing bust markets such as South Florida and Phoenix.
While still well below historical construction levels, the new interest in condos is attracting interest from high level investors, who are keeping an eye on the growing condo construction and conversion market both to see if the trend may produce opportunities in more markets, and to gauge its effect on apartment property pricing.
From the fax machine to Facebook, the real estate industry has changed significantly. As an industry innovator, ERA Real Estate has always been at the forefront of that change. Over the last five years, we have undergone a comprehensive brand revitalization. This journey has led to the introduction of our new ERA identity.
Today, we are proud to introduce a fresh new look for the brand, reflecting who we are today and where we are headed for the future.
With a modern, dynamic feel that conveys moving forward and upward, our new logo is the visual representation of an energized brand that is positioned for the next generation.
Our new logo retains the positive equities of our recognizable brand mark and is, we feel, a modern and contemporary expression of our brand.
From Realtor.com February 13, 2014
Mortgage rates for most U.S. home loans remained largely unchanged this week following news of rising unemployment claims.
The average for a 30-year fixed-rate mortgage rose to 4.28 percent, up slightly from 4.23 percent last week, according to the latest survey from mortgage buyer Freddie Mac. Although the increase was small, it marked the first time the 30-year fixed-rate mortgage has risen in 2014. The popular loan averaged 4.53 percent at the start of 2014 and was at 3.53 percent a year ago.
The 15-year fixed-rate average remained the same week-over-week at 3.33 percent. It averaged 3.55 percent at the beginning of this year, and was at 2.77 percent a year earlier.
Averages for hybrid adjustable-rate mortgages were mixed. At 3.08 percent a week ago, the five-year ARM is now trending at 3.05 percent. A year ago, it averaged 2.64 percent. The one-year ARM rose to 2.55 percent from 2.51 percent a week ago. It averaged 2.61 percent at this time last year.
“Mortgage rates were little changed amid a week of light economic reports,” Frank Nothaft, vice president and chief economist for Freddie Mac, said in a statement. “Of the few releases, the economy added 113,000 jobs [PDF] in January, which was below the market consensus forecast and followed a slight upward revision of 1,000 jobs in December. Meanwhile, the unemployment rate fell to 6.6 percent, which makes 13 consecutive months without an increase.”
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