Lew Sichelman

Real estate developers as anthropologists? Sponsored by the Urban Land Institute, a nonprofit organization that brings together all real estate disciplines to promote responsible land use, an eight-month research effort found that the planned community is alive, if not well, and definitely not living in suburbia—at least not anymore. Read more to learn why the conversation about the future of planned communities is far from over.
The much-maligned Bank of America is working “hard” on a short sale-to-lease program for distressed borrowers who don’t qualify for government-backed refinance programs, says BofA executive Ron Sturzenegger to a session on capital markets at ULI’s 2011 Fall Meeting in Los Angeles. Read more to learn the details of how the bank expects to tackle today’s huge inventory of foreclosed properties.
A new ULI report, “What’s Next? Real Estate in the New Economy,” highlights a number of trends poised to alter urban planning, design, and development through 2020. The report covers six major categories—Work, Live, Connect, Renew, Move, and Invest—and reflects the input, insight, and participation of ULI trustees, members, and staff.
In the 33rd edition of Emerging Trends, one of the most highly regarded industry outlook reports published, the opinions of 950 investors, developers, lenders, consultants, and property company representatives point to a rather glum outlook for 2012: the climb out of the real estate depression will be a long and slow one for all but one market sector. Read more to learn why and to learn how cities have improved over a year ago.
At the Mortgage Bankers Association’s annual convention in Chicago earlier this month, it was said that mortgage originations are expected to dip by over 25 percent next year, from an estimated $1.2 trillion in 2011 to just $900 million in 2012—which would be the lowest level of loan production since 1997. Read more to learn what those in attendance had to say about the trade group’s assessment.
Fannie Mae Form 1004—the appraisal form most widely used for home loan lending purposes—makes scant mention of energy-saving features. So even if a home is loaded with them, their value is rarely factored into the appraiser’s analysis. But a new form put into play late last month by the nation’s largest professional group of real estate appraisers is about to change that.
If you have $19.9 million lying around, you can now purchase Bill Murray’s mansion, which was featured in Zombieland, a 2009 spoof of the horror genre. But, if this famous residence is up for sale, one wonders about other homes featured in classic films—their real locations, their physical attributes, their history—and how they’ve been ingrained in the American cultural psyche. Read more.
In recent years, Fannie Mae and Freddie Mac have kept the apartment market afloat, but now private lenders also are warming to the task. At the Pacific Coast Builders Conference, experts voiced their concerns about lenders who know nothing about the sector flooding the market. Also, lenders’ ability to remain disciplined in the face of strong competition for borrowers was mentioned.
According to the Joint Center for Housing Studies at Harvard, the home improvement business is poised for a decade of growth after being decimated by a double-digit decline in spending since 2007. Read how the FHA’s new PowerSaver loans will offer financing of up to $25,000 to homeowners to upgrade their residences—and how the FHA’s 203(k) rehabilitation mortgage will allow them to do even more.
Although social media are one way to support branding and awareness, developers who rely solely on them to attract buyers might—in light of today’s economy—also reconsider old-fashioned marketing.
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