Write it on your heart that every day is the best day in the year.
Ralph Waldo Emerson
Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the […]
The post Real Estate Daily News Buzz – January 3, 2014 appeared first on Real Estate Daily News.
Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be. Thursday, the Dow Jones industrial average fell 135.31 points, or 0.8%, to 16,441.35. The Standard & Poor’s 500 index declined 16.38 points, or 0.9%, to 1,831.98. The NASDAQ composite slipped 33.52 points, or 0.8%, to 4,143.07. Benchmark oil for February delivery fell $2.98 to close at $95.44 a barrel in
AVERAGE U.S. RATE ON 30-YEAR LOAN AT 4.53%
WASHINGTON (AP) — Average U.S. rates for fixed mortgages edged higher this week for the third straight week but remained low by historical standards. Mortgage buyer Freddie Mac said that the average for the 30-year loan rose to 4.53% from 4.48% last week. The average for the 15-year loan increased to 3.55% from 3.52%.
FACTORY & CONSTRUCTION GROWTH BOOST 2014 OUTLOOK
WASHINGTON (AP) — Expectations are rising for a stronger U.S. economy in 2014 after reports showed
solid growth in manufacturing and construction spending at the end of last year. Factory activity in December stayed near a 2 1/2 -year high. Americans are buying more cars and homes, increasing demand for steel, furniture and other manufactured goods. Manufacturers have boosted hiring to meet that demand and may add jobs at a healthier pace this year. Builders stepped up spending on home construction in November, despite recent increases in borrowing rates. That suggests many remain
confident in the housing recovery.
U.S. CONSTRUCTION SPENDING UP 1% IN NOVEMBER
WASHINGTON (AP) — U.S. construction spending rose in November at the strongest pace in more than four years, driven by solid gains in home construction and commercial projects. The Commerce Department said construction spending increased 1% in November to a seasonally adjusted annual rate of $934.4 billion. That’s the fastest rate since March 2009 and a slight improvement on the revised 0.9 per
cent gain in October. Residential construction rose 1.9% in November, after falling in October. Spendingon single-family homes has increased 18.4% year-over-year, while spending on apartment buildings is up 36.3% during the same period.
BERKSHIRE SEEN FAILING BUFFETT 5-YEAR TEST FOR 1ST TIME
Warren Buffett probably missed his target for the first time in 44 years. Berkshire Hathaway Inc., his $292 billion company, is poised to report that it failed to increase net worth more rapidly than the Standard & Poor’s 500 Index during the past five years, according to analyst estimates. It would be the first time the billionaire investor fell short of the goal since he took over the Omaha, Nebraska-based company in 1965.
WALMART SAYS IT’S CONSIDERING LEGAL ACTION OVER DONKEY MEAT RECALL IN CHINA
NEW YORK, N.Y. – Walmart Stores Inc. says it’s considering taking legal action against “responsible parties” after DNA testing showed traces of fox meat in the donkey meat it sold in China. Walmart had recalled the donkey meat — which it said was considered a popular delicacy in parts of China — after DNA testing by a government agency. The company said Thursday that it withdrew all products from the supplier, Dezhou Fujude Food Company, and that affected customers were offered mpensation. It also says it plans to add DNA testing to its meat products in China.
GOV’T WATHCDOG CALLS FOR ENDING UNEMPLOYMENT DATA LOCKUPS, SAYS UNFAIR TOSOME INVESTORS
WASHINGTON – A Labor Department watchdog has recommended ending a practice that allows reporters to review a key unemployment report before it is made public. The department’s Inspector General says media “lockups” for weekly unemployment benefits are a problem because news outlets can feed the data to investment firms and financial exchanges immediately after the 30-minute lockups end.Several news services use software to transmit data to traders, who then profit because they have the data fractions of a second before others. The AP provides such data to the NASDAQ exchange, which then sells the data to its customers. The Labor Department has raised its own concerns about the early release of market-moving data and responded to the report by saying it will consider ending the unemployment benefits lockup.
FIRE EYE BUYS MANDIANT, TECH FIRM THAT LINKED CYBERATTACKS TO CHINESE MILITARY UNIT
NEW YORK, N.Y. – FireEye Inc. says it has acquired Mandiant Corp., which linked years of cyberattacks attacks against U.S. companies to a secret Chinese military unit. The computer-security company said Thursday that the purchase of privately held Mandiant would increase its ability to stop attacks in their early stages. FireEye, which had a successful initial public offering of stock in September, said it wouldissue 21.5 million shares and options of its stock, which closed Thursday at $41.13, and pay $106.5 million in cash to former Mandiant security holders. That would value the deal at about $1 billion.
FIAT STOCK JUMPS ON CHRYSLER DEAL, BUT UNIONS WORRY
ROME (AP) — Stock in Fiat soared on news the Italian automaker will take full ownership of Chrysler, but some Italian unions worried what the deal will mean for jobs and investments in the country. In a New Year’s day announcement, Fiat Spa said it could complete its acquisition of Chrysler without having to raise new capital through a rights issue. Investors cheered the fact, bidding the shares up 12 per cent on the Milan exchange. The stock was up by as much as 15.8% earlier in the day.
SNAPCHAT QUIET AFTER SECURITY BREACH
NEW YORK (AP) — Snapchat, the disappearing-message service popular with young people, has been quiet following a security breach that allowed hackers to collect the usernames and phone numbers of some 4.6 million of its users. The breach occurred after security experts say they warned the company at least twice about a vulnerability in its system. Snapchat’s seemingly detached response is causing some security specialists to wonder whether the relatively young company can handle the spotlight that it’s beenthrust into over the last year as its service becomes enormously popular.
WARNING ISSUED ABOUT OIL SHIPPED FROM N.D. & MONT.
BILLINGS, Mont. (AP) — Following a string of explosive accidents, federal officials said that crude oil being shipped by rail from the Northern Plains across the U.S. and Canada may be more flammable than traditional forms of oil. A safety alert issued by the U.S. Department of Transportation warns the public, emergency responders and shippers about the potential high volatility of crude from the Bakken oil shale
patch. The massive oil reserve is fueling the surging industry in eastern Montana and western North Dakota, which is now the nation’s second-largest oil producer. The warning comes after a massive explosion caused by an oil train derailment on Monday near Casselton, N.D.
MACY’S, MARTHA STEWART LIVING SETTLE DISPUTE
NEW YORK (AP) — Macy’s and Martha Stewart Living Omnimedia say they have settled a breach-of-contract lawsuit involving J.C. Penney. But Macy’s said the settlement does not impact itslawsuit against J.C. Penney Co., which is still ongoing Macy’s Inc. and Martha Stewart Living Omnimedia Inc. said their settlement terms are confidential and not material to their businesses. Both companies said that they look forward to “a continued, successful partnership together.”
STUDY FINDS MEDICAID EXPANSION DROVE UP ER VISITS
SALEM, Ore. (AP) — A new study has found that people enrolled recently in Medicaid went to the emergency room 40 per cent more frequently than others, often seeking help for conditions that could be treated less expensively in a doctor’s office or an urgent care clinic. The research, published by the journal Science, comes as millions of Americans gain health insurance this week under the federal health care law, many of them through Medicaid.
NEW DRUG APPROVALS FROM FDA DECLINED IN 2013
WASHINGTON (AP) — The Food and Drug Administration approved 27 first-of-a-kind drugs in 2013, down from 39 new medications in 2012, which was a 15-year high. Despite the decline, FDA officials say the tally of innovative medications approved last year is in line with the historical trend. On average, the FDA has approved 28 first-of-a-kind drugs annually over the past five years. FDA drug approvals are watched closely by analysts as both a barometer of industry innovation and the federal government’s
efficiency in reviewing new therapies. Experts say the number of drug approvals declined in 2013 mainly because there were fewer drugs submitted for review.
COURT GRANTS LAW LICENSE TO MAN IN U.S. ILLEGALLY
SAN FRANCISCO (AP) — The California Supreme Court granted a law license to a man who has been living in the U.S. illegally for two decades, a ruling that advocates hope will open the door to immigrants seeking to enter other professions such as medicine, nursing and accounting. It’s the latest in a string of legal and legislative victories for people who are in the country without permission. Other successes
include the creation of a path to citizenship for many young people and the granting of drivers licenses in some states.
SEC. OF LABOR REAFFIRMS IMPORTANCE OF LONG-TERM UNEMPLOYMENT BENEFITS
In a Dec. 24 interview with the Baltimore Sun, and on a conference call three days later with two-dozen reporters from across the country, Secretary of Labor Thomas E. Perez said “it would be literally unprecedented” if Congress fails to renew the Emergency Unemployment Compensation program that provides benefits to long-term jobless Americans. Perez said that Congress approved the program with broad bipartisan support in 2008, when the U.S. unemployment rate was 5.6 percent. The current unemployment rate is 7 percent. He added, “The hole that this Administration inherited in the Great Recession was a deep one. And when you’re in a hole, you stop digging. We must maintain these emergency benefi ts in order to continue climbing our way back to a fully healthy economy.” Perez also noted that when Congress reconvenes on Jan. 6, Senate Majority Leader Harry Reid will bring up
legislation to extend unemployment insurance and move it toward a vote. “Congress can do the right thing in the new year and renew this program,” said Perez. “It will help people who want to be employed. It will help families keep going. It will help create economic growth for the nation.”
A little about me and my expertise – video
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail firstname.lastname@example.org or call me on my cell 520-975-5207 or Office:480-948-5554
PLEASE NOTE, I CHANGED BROKERAGES BUT CELL PHONE AND E-MAIL STAY THE SAME.
Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
7077 E. Marilyn Road, Bldg 4, Suite 130
Scottsdale, AZ 85254
Office : 480-948-5554
View my listings and my profile at:
a little about me and my expertise – video
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