Real Estate News for Wednesday, January 4th, 2006

Grubb & Ellis 2006 Real Estate Forecast: Will We See a Mid-Course Correction? Tenant and Investor Demand Should Keep Markets Healthy, But Risks Loom. Grubb & Ellis Company (OTC: GBEL), one of the leading providers of integrated real estate services, today released its 2006 North America Real Estate Forecast, which indicates
that commercial real estate should have another healthy year as job growth
will benefit the office and retail markets and an abundance of capital will
continue to infuse investment sales. "Conditions will be similar to 2005, as the nation's economy continues to expand," said Robert Bach, National Director, Market Analysis for Grubb & Ellis. However, he cautioned, "there are imbalances in the economy that could slow growth as early as the second half of 2006 or even bring the expansion cycle to an early conclusion." The Office Market is beginning to move from recovery to expansion. The demand for industrial space will remain strong. Retail may have moved beyond its sweet spot. Strong fundamentals are seen for multi housing. Click here to read more.

Manhattan real estate hits wall. Big Apple prices are treading water after years of big gains. Will the rest of the nation follow? The Manhattan slowdown comes on the heels of similar drops in the third quarter in some of the nation's most expensive real estate markets. Boston and other Bay State areas, many California markets, the Washington D.C. area, and suburban New York counties, all recorded lower or flattening prices, according to National City, a financial holding company. Click here to read more.

Click for home; Home buyers turning to the web. As it has with other businesses, the Internet is changing the world of residential real estate. Its giving people fingertip access to view houses for sale with details about neighborhoods, schools and mortgage productsinformation that was once controlled by your local real estate professional. The Internet has made searching for a home easier and helped sprout new online discount brokers. But it also has underscored the role of traditional Realtors, who most buyers still rely on for completing their transactions. Some 62 percent of all home buyers in California used the Internet as an important part of the home-buying process in early 2005, compared with 28 percent in 2000, according to a survey released in March by the California Association of Realtors. The Internet allows consumers to view homes placed in the Multiple Listing Servicean extensive database shared by brokers of homes listed for sale in an area in the privacy of their homes instead of going to a brokerage. Click here to read more.

Experts see hot home sales again. San Antonio's real estate industry just ended a remarkable year, with record-shattering home sales, new housing construction starts and plentiful, affordable inventory that bode well for the new year, experts at the 2006 annual Housing Forecast said Tuesday. The experts touted a recent Fortune magazine report that rated San Antonio the No. 1 residential real estate market in the country, with a projected 8.3 percent appreciation rate in 2006. That's not as strong as the double-digit annual appreciation rates that homeowners in California, Florida and Northeast markets have been experiencing over the past six years, but those markets are expected to weaken. All the economic indicators are signaling another strong, record-breaking year, said Jack Inselmann, vice president for the Central U.S. division of Metrostudy, a market research company. Inselmann said the combination of improved job growth and increased demand for houses was key to the industry's success in 2005. Barring unforeseen events, he projected continued vibrant job growth and housing demand in 2006. Click here to read more.

Past Year Marked By Record Apartment Purchases. Investment capital rushing to Oklahoma landed a record number of apartment buildings this year, according to CB Richard Ellis-Oklahoma. Most apartments under construction or about to start will rent at the market rate, about $622 per month for one bedroom, $794 for two bedrooms and $986 for three bedrooms, according to CB Richard Ellis, which noted the lack of lower-rent, tax-credit properties in the works. Investors bought 51 apartment complexes with 40 units or more, nearly double the annual average of 27 purchases the past decade, CB Richard Ellis said this week. Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com