String of monthly Alaska job losses longest since 1980s Aug 22, 2009
Although construction, retailing, hotels and real estate are down in terms of jobs this year, some industries continue to grow in Alaska, including health care and education, Labor Department figures show. Just compared with June, Alaska employers added 5,100 jobs, a seasonal increase that happens almost every year. (Anchorage Daily News)
Guaranty Bank shut down by regulators Aug 22, 2009
Guaranty Bank, with 162 branches in Texas and California, saw its investments in real estate lending and mortgage-backed securities bought from other banks sour and had been teetering near collapse for weeks ... Last week the FDIC seized Colonial Bank, a big lender in real estate development, and sold its $20 billion in deposits, 346 branches in five states and about $22 billion of its assets to BB. It was the biggest bank failure so far this year, and the sixth-largest in U.S. history. (Anchorage Daily News)
Current health care system is intolerable Aug 22, 2009
Lawrence Ross is a long-time real estate broker in Anchorage ... Lawrence Ross is a long-time real estate broker in Anchorage. (Anchorage Daily News)
Perm Fund execs grilled Aug 16, 2009
Historically, the permanent fund's allocation strategy has been defined as a series of percentages stating relative target values of the permanent fund by investment type - essentially a pie chart with slices for stocks, bonds, real estate, infrastructure, etc ... The permanent fund took legislators by surprise when it changed how it was allocating its $32 billion portfolio from the traditional allocations to stocks, bonds, real estate and other investments to categorizing its investments by... (Juneau Empire)
Regulators close 3 banks in Fla., Ore.; total 72 Aug 8, 2009
While losses on home mortgages may be stabilizing, delinquencies on commercial real estate loans remain a trouble spot, especially for regional banks that hold large amounts of the high-risk loans. The number of banks on the FDIC's list of problem institutions leaped to 305 in the first quarter - the highest number since 1994 during the savings and loan crisis - from 252 in the fourth quarter. (Anchorage Daily News)
New Federal Housing Administration loan assistance Jul 30, 2009
By ALAN ZIBEL / AP Real Estate Writer. Published: July 29th, 2009 08:08 PMLast Modified: July 29th, 2009 08:08 PM. (Anchorage Daily News)
River chews up property, floods north of Sutton Jul 15, 2009
She also successfully pressed the Alaska Real Estate Commission into requiring sellers to list whether land they were selling was at risk for erosion. That doesn't help the Blubaughs or Boyle, however. (Anchorage Daily News)
Understanding those closing costs Jul 12, 2009
Clair and Barbara Ramsey are local associate brokers specializing in residential real estate. Their column appears every month. (Anchorage Daily News)
Poll: Would-be homebuyers cautious as layoffs rise Jul 9, 2009
By ALAN ZIBEL / AP Real Estate Writer ... com, an online real estate listing service. (Anchorage Daily News)
Toxic asset program may be too late to help banks Jul 8, 2009
Fears of a deeper recession, including rising unemployment and falling home values, raise the specter of massive defaults on consumer and commercial real estate loans, analysts said ... He expects that two-thirds of bank losses will be in categories like commercial real estate loans, commercial investment loans and credit cards. (Anchorage Daily News)
Manhattan apartment prices skid 13 to 19 percent Jul 2, 2009
By J.W. ELPHINSTONE / AP Real Estate Writer ... "The city did a nosedive. There was virtually no business," said Dottie Herman, president f Prudential Douglas Elliman, one of the largest real estate brokerages in New York ... "We're talking lenders requiring 30 to 40 percent down (payments) for jumbo mortgages. What does that do to someone buying a $4 million apartment?" said Jonathan Miller, president and chief executive of real estate appraisal and consulting firm Miller Samuel Inc., which... (Anchorage Daily News)
Bridge could save fuel Jun 30, 2009
to Sam wrote on Jun 29, 2009 3:35 PM:" "Real Estate we could develop" i.e. bulldoze, log, clear and build, build, build. Traffic, congestion, crime, pollution...gosh, Anchorage spilling onto Knik. Sounds great. ". Sam Ford wrote on Jun 29, 2009 9:51 AM:" If you build a road (bridge), people will go there. Think about the real estate we could develope. Relieve the congestion.New fishing holes. the possibilities are endless.Vote for the bridge ". (Wasilla Frontiersman, AK)
Federal archives project in Anchorage still gathering dust Jun 28, 2009
Stevens, once one of the poorer members of Congress, became a millionaire as a result of his investments in Rubini and Hyde real estate ventures ... In 2002, when Begich was working as a real estate agent and at a time he did not hold elective office, the developers gave him a small interest in their Midtown Calais properties ... "The only parties who benefited from the proposed rezoning were the real estate developers," the inspector general report concluded. (Anchorage Daily News)
Learn to master net operating income Jun 28, 2009
CHRIS STEPHENS REAL ESTATE ... I am continually surprised to see the number of real estate investors who do not understand the most important concept in real estate investing -- net operating income ... A real estate investment, like all investments, is basically the purchase of a future flow of money. (Anchorage Daily News)
ALL BUSINESS: Investors' tools to understand banks Jun 27, 2009
He also cited evidence that Pacific Capital's commercial real estate portfolio was performing well. Deer also had met with Pacific Capital's management a week before issuing his upgrade. (Anchorage Daily News)
Permanent fund's new investment strategy raises concerns Jun 24, 2009
The board recently decided to abandon its long-held model for allocating its investments among stocks, bonds, real estate and other investments, and instead will base its allocation decisions on different types of risks, such as exposure to companies or to interest rates. That changes was not communicated to legislators before the board adopted them in May, and took many by surprise, said Sen. (Juneau Empire)
Changes should stablized fund's returns Jun 20, 2009
We have added an allocation called "real return mandates." Under this strategy, external managers will invest in the same things as the fund (stocks, bonds, real estate) and hold to the same risk profile as the fund overall ... These securities carry the low-risk advantages of bonds with the inflation protection that is usually provided by real assets, such as real estate and infrastructure. (Anchorage Daily News)
Alaskans get help to recover from floods Jun 17, 2009
For damage to housing, the SBA provides loans of up to $200,000 to homeowners to repair or replace damaged or destroyed real estate ... For businesses, the SBA provides loans of up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other assets. (Anchorage Daily News)
Commercial real estate in straits May 31, 2009
CHRIS STEPHENS REAL ESTATE ... Commercial real estate in the Lower 48 is in serious trouble and will end up being the nation's hardest hit industry outside the auto industry, predicts Lawrence Yun, chief economist for the National Association of Realtors in a recent press release ... Commercial real estate is being hammered on several fronts. (Anchorage Daily News)
Alaska permanent fund rebound softened by trustee board's decision May 28, 2009
Every year, the Alaska Permanent Fund's Board of Trustees revisits its investment allocation strategy, which was historically defined as a series of percentages stating relative target values of the permanent fund by investment type - essentially a pie chart with slices for stocks, bonds, real estate, infrastructure, etc ... Old Strategy Amount - Investment type 22% - Fixed Income (Bonds, domestic and international) 53% - Equities (Stocks, domestic and foreign, large and small) 3% -... (Juneau Empire)
Our view: Housing first May 24, 2009
In Washington state, $20 fees for real estate transactions go into a housing trust, said Freemon. That's something Alaska could look at, too. (Anchorage Daily News)
Permanent fund portfolio rebounds May 22, 2009
Unrealized losses occur when the value of stocks, bonds, real estate and other fund investments fall below the prices the fund paid for them. A profit or loss is not "realized" until the investment is sold. (Anchorage Daily News)
Our view: Steady as she goes May 21, 2009
But we hope the fund will continue to be a prudent investor with a mix of solid, investments in stocks, bonds and real estate, a portfolio long on blue chips, short on creative alternatives. That simple, unexciting blend has served Alaska well for more than a generation. (Anchorage Daily News)
Judge weighs dismissing suit over Trump's worth May 19, 2009
A judge said Monday that she would rule within two months on whether the real estate mogul's lawsuit against writer Timothy L. O'Brien should be dismissed before it gets a chance to go to trial. Neither man was in Superior Court in Camden for a hearing on the matter Monday. (Anchorage Daily News)
FDIC holds off on longer guarantee for some bonds May 16, 2009
It is still in a developing stage in the U.S. compared with Europe, where the bonds have been widely used to finance residential and commercial real estate, credit card debt and student loans. The bonds provide funding to issuers such as banks, and are backed by mortgages or cash flow from other types of debt. (Anchorage Daily News)
Obama administration to expand housing plan May 14, 2009
By ALAN ZIBEL / AP Real Estate Writer ... Short sales are often seen as preferable to foreclosure because they don't harm a borrowers' credit record as much as a foreclosure, but real estate agents have complained that the process can drag out for months. (Anchorage Daily News)
Target's activist shareholder to hold town meeting May 11, 2009
In addition to Ackman, Pershing Square has nominated Winthrop Realty Trust Chairman and CEO Michael Ashner, former Starbucks Corp. CEO Jim Donald, law professor Ronald Gilson, and Richard Vague, the former chairman and CEO of First USA. Ackman has maintained that this slate will bolster the board's expertise in retail, credit cards and real estate issues ... But since Target rejected Pershing Square's real estate proposal to separate the land the retailer owns underneath its stores and... (Anchorage Daily News)
Picasso, Giacometti works fetch $7.7M each in NYC May 7, 2009
The 1971 Picasso painting "Woman with Hat" was consigned by film director Julian Schnabel to help finance a real estate project. It shows a female figure with a face reminiscent of the artist. (Anchorage Daily News)
Market rally pushes Permanent Fund over $30 billion May 6, 2009
On Monday, the value of the state oil wealth savings account's stock, bond, real estate and other investments totaled $30. 39 billion, its highest level since Nov. 4, according to numbers compiled by the Alaska Permanent Fund Corp.. (Anchorage Daily News)
Testimony greetsOregon lawmakers May 4, 2009
NEWSPAPERS IN EDUCATION. Straight-A college students talked about having to leave school because of tuition increases. (Ontario Argus Observer, OR)
Anchorage running out of land for industry May 3, 2009
CHRIS STEPHENS REAL ESTATE ... A new report assessing the industrial land in Anchorage confirms what everyone in commercial real estate already knows -- Anchorage is critically short of industrial land ... Chris Stephens, CCIM, is a local associate broker specializing in commercial and investment real estate. (Anchorage Daily News)
Our view: Sullivan for mayor May 2, 2009
Unlike Mayor Mark Begich, Sullivan has no enthusiasm for steering the city into dubious real estate development deals. He says he's strongly committed to open meetings, open access to public records and public involvement in city decisions. (Anchorage Daily News)
2 stores nearly ready in Tikahtnu Commons Apr 30, 2009
Its "nonperforming assets" -- loans to borrowers who've stopped repaying, loans in which payments are 90 or more days past due, restructured loans and foreclosed real estate -- totaled $35. 3 million, or 3. (Anchorage Daily News)
Survey: economy declining, but recession abating Apr 20, 2009
Net rising indexes swung from negatives to slight positives for the finance, insurance and real estate and services sectors, while demand remained depressed in transportation, utilities, information and communications. More companies are also seeing their profit margins increase. (Anchorage Daily News)
Palmer hotel owes more than $100,000 in back taxes Apr 19, 2009
In 2007 Anchorage real estate agent Yong Piening and partner Sun Sin Park borrowed $1. 5 million from Washington's Pacific International Bank to buy the hotel property, according to court documents filed by the bank as part of a lawsuit against the partners. (Anchorage Daily News)
Wasilla group finds itself in need of some economic help Apr 15, 2009
"We've got some really strong members to bring it back up to where it should be," chamber member and real estate agent Darcie Salmon said. "We're the best in the state, and I stand by that.". (Anchorage Daily News)
Market rally could trip over the bottom line Apr 12, 2009
" Here are six companies that will report earnings this week. Each, in its own way, provides a snapshot of the economy. - General Electric Co. - Why it's important: GE has a stake in almost every major sector of the economy. It builds turbines for power plants and high-tech medical machines. Jetliners use GE engines. When homeowners remodel, GE's stainless steel ovens and refrigerators anchor their kitchens. And many people still screw GE light bulbs into their living room lamps. GE is also a... (Anchorage Daily News)
Future lease rates difficult to predict Apr 4, 2009
Chris Stephens REAL ESTATE ... Chris Stephens, CCIM, is a local associate broker specializing in commercial and investment real estate. (Anchorage Daily News)
Alaska Gov. Palin dismisses political road bumps Apr 3, 2009
Despite a tattered economy and grim real estate market, every month more than 5,000 people buy a house in the Bay Area. When I was a lad, the second bike I owned was a 1953 Royal Enfield 350 Bullet. (San Francisco Chronicle -- Politics)
Steaua owner under arrest on kidnapping charges Apr 3, 2009
35 billion, much of it in real estate. However, he was hit hard by the global economic crisis and said recently he only had $2. (Anchorage Daily News)
Historic drop for Manhattan housing market Apr 2, 2009
NEW YORK - The recession has hammered confidence in the Manhattan real estate market, with first quarter sales falling to their lowest number in decades, experts said ... 6 percent and 60 percent, although some real estate firms reported median sale prices rose slightly ... com, a real estate Web site. (Anchorage Daily News)
Our view: Zero dividend? Mar 16, 2009
Our view: Zero dividend. Anchorage Daily News. (Anchorage Daily News)
Alaska Gov. Palin's daughter, fiance break up Mar 12, 2009
Unable to submit Real Estate, Services, and Business Investements at this time. Map the Valley. (Hanford Sentinal, CA)
Letters to the editor (3/11/09) Mar 11, 2009
Though real estate taxes may be high in absolute terms, they are comparable to other states', they are the only tax we pay, and then the state generously pays them completely for many of us (me included) in the form of a Permanent Fund payout. Surely we all should contribute financially to the greater welfare of the community. (Anchorage Daily News)
Assessments decrease again for Valley homes Mar 11, 2009
Real estate agents say they've noticed the dip with fewer houses on the market and lower sales prices than in 2007. But the trend may be turning around, with prices going up slightly in the past two months. (Anchorage Daily News)
Ex-NY Gov. Spitzer makes D.C. real estate deal Mar 6, 2009
NEW YORK - Disgraced former Gov. Eliot Spitzer is working as a commercial real estate investor and has bought an office building just a block from the site of the infamous encounter with a high-class prostitute that led to his downfall ... Working with his father's real estate company, Spitzer worked on the deal to buy 1615 L St. NW, a 13-story building that counts among its tenants the Washington outpost of the Nixon Presidential Library, The Wall Street Journal reported Thursday evening on its... (Anchorage Daily News)
Inside Alaska business Mar 1, 2009
Margie Brown, CIRI chief executive, said the Lower 48 recession has caused a slowdown in the company's Texas real estate sales and development projects, "though not as significantly as similar projects elsewhere in the country." The postponement of the office towers will last "until market trends become clearer," Brown wrote. Another part of that development is going ahead, however. (Anchorage Daily News)
Despite losses, PFD distribution likely this year Feb 28, 2009
That opinion laid out a rationale for how dividends can be paid in accordance with Alaska law, even in times when the value of the fund's stock, bond, real estate and other investments dives to levels at or below the value of the fund's constitutionally protected deposits, known as the principal. Those deposits have totaled $29. (Anchorage Daily News)
Impact fee proposal concerns developers Feb 28, 2009
"We certainly don't want fees to go just to one industry. And with the change in the economy, the timing was kind of unfortunate," said Paddy Coan, the managing broker for Prudential Jack White Vista, a real estate firm. Coan also serves on the Valley Board of Realtors' legislative committee, a group that is meeting with Mat-Su Borough officials to find a more palatable solution to the problem. (Anchorage Daily News)
Global Diving acquires Alaska diving firm Feb 27, 2009
Stay up to date on the latest news from within the commercial real estate industry. News, analysis and ideas that defy the odds and the times. (Puget Sound Business Journal, WA)
Housing in Alaska stable amid national woes Feb 24, 2009
Alaska's real estate markets are stable, although they are cooling from the go-go years from 2004 to 2007, according to the head of Alaska House Finance Corp. ... The housing corporation has been monitoring delinquencies, foreclosure rates and real estate sales through the fourth quarter but has detected no changes in trends, Fauske said ... Ketchikan's economy and real estate market appeared stable after several years of severe difficulty when Ketchikan Pulp Co. closed its mill there. (Juneau Empire)
Weak retail market hurts General Growth's results Feb 24, 2009
The real estate investment trust, which has a stake in more than 200 malls across 44 states, also declined to issue an outlook for 2009, citing the uncertainty of its refinancing efforts ... The real estate investment trust fell to a loss of $965,000 in the quarter from year-ago net income of $58. (Anchorage Daily News)
Seek help fast when financial wagon comes unhitched Feb 20, 2009
Clair and Barbara Ramsey are local associate brokers specializing in residential real estate. Their column appears every fourth Friday. (Anchorage Daily News)
Use a sales tax to deliver relief from high property taxes Feb 19, 2009
Kirk Wickersham is an Anchorage lawyer and real estate broker. He can be reached at. (Anchorage Daily News)
University, Native corporations partner for curriculum building Feb 19, 2009
In a statement he read to the Board of Regents at the Wednesday meeting, he said, "We need Alaskans to be our engineers, accountants, project managers, HR professionals, IT experts, geologists and real estate developers. We need Alaskans to know that they can ... pursue meaningful careers with Alaska's Native corporations.". He later said it's not just about training shareholders but training all Alaskans. (Anchorage Daily News)
Walt Disney restructures theme parks, cuts jobs Feb 19, 2009
Disney said global business and real estate development will be combined under a new team led by Executive Vice President Nick Franklin. "Back-of-house" operations, such as menu planning or merchandise development, at Walt Disney World in Orlando, Fla. (Anchorage Daily News)
Key players contest FBI whistle-blower allegations Feb 16, 2009
"When Kepner moved from Juneau to Anchorage, Kepner utilized (Prewitt's wife) to locate homes," Joy said in his complaint, noting that Vicki Prewitt was a licensed real estate agent. The allegation contains a partial truth, but the implication that she did professional or business favors for Kepner is wrong, Vicki Prewitt said. (Anchorage Daily News)
Donald Trump quits casino company's board Feb 14, 2009
Spurned by bond holders who rejected his effort to buy Trump Entertainment Resorts, the real estate mogul and his daughter Ivanka are resigning from its board of directors. He called the troubled casino company he once controlled "worthless to me now." He is the largest shareholder, owning more than a quarter of its stock, yet stressed that it comprises "substantially less than 1 percent of my net worth.". (Anchorage Daily News)
Understanding risks a prerequisite to maximizing return Feb 7, 2009
Chris Stephens REAL ESTATE ... These ranged from very sophisticated academic papers about statistical methods of determining the risk for stock portfolios to the other extreme -- a guy who claimed he could eliminate your real estate investment risk if you just sent him money ... For stock portfolios, corporate real estate and large real estate investment portfolios, there are statistical methods that can analyze and quantify risk. (Anchorage Daily News)
