U r b a n T r e k k e r

Real Estate Links

This is that I would rather doing today :)

By the way.. Here are the Friday links to selected stories from around the Internet on real estate:

* Rates on 30-Year Mortgages Rise [Washington Post]
* Housing and City Living Uniformly Sexy, All the People Beautiful [Rebuilding Place in the Urban Space]
* Mortgage Lenders Dismiss Concerns Over Risky Loans [Real Estate Journal]
* Retirees Who Relocate Often Opts for Homes in Metropolitan Areas [Real Estate Journal]
* Area's Healthier Market Stabilizes Prices [WHG]
* Sellers Need to Price for New Market [WHG]
* It Isn't Just Foreclosure that Forfeits Property [WHG]
* Good Prices Lure Middle Class Income Buyers [WHG]
* Housing Going Dutch in Taking the Long Term View [Matrix]
* Whitman-Walker to Sell DC Sites [Wash BizJournal]
* Water, Water, Everywhere [NYT]

Top 10 Foreclosure States

Here is the list of 10 States that have the highest foreclosure rates for the month of February, according to RealtyTrac.com.

1. Texas   
2. Michigan
3. Florida
4. Ohio
5. Georgia
6. California
7. Indiana
8. Tennesse
9. New York
10. Illinois

Great news for DC housing market.. we're not included in the list! It's interesting to see foreclosure rates is high in California, where hot housing market trend started and also in the Big Apple.

New Development: Landmark and Cameron Station

The development for Landmark area that stretches to Cameron Station will be centered around Landmark Mall (Graphic 1). The area of redevelopment will include properties owned by Hecht's and Sears. There is a pending permit proposal on the table to redevelop the tired-looking shopping mall into a vibrant mixed-use development town center that includes retails, hotel and residentials. The planned Landmark town center will be built on 51-acre of lot.

The concept is very similar to Pentagon Row in Arlington, where you find retails on the ground floor and residentials on the upper level. There will be a total of 1650 residential units a combination or rentals, condominiums and townhomes (Graphic 2). The size of its retail space will be huge! 

Across the street from Landmark mall, Diamond Lincolnia plans for 132 condominium project. To the rear of Cameron Station, two of the nation's largest developers working to build 97 townhomes and 148 condominiums. The estimate delivery of these projects will be around 2007.

If you go around Van Dorn Street, EOS-21, converted about 500 units for condominiums and retain the rest of the units as rentals. The condominiums prices start in the $100's and up range. They will have a new competition targeting the same market segment in the low-$200's within a few blocks from there. The Strand is another condo conversion community, which is located next door of Tuscany Condominium. Tuscany Condominium, a 104 condominium Mediterranean inspired, estimate delivery in the 2008.

There's no urban living style is complete without either one of the two groceries that have become symbol of hip urban living: WholeFoods and Harris Teeter. WholeFoods just opened up their new store in Duke Street on the ground floor of Royalton condominium building. Harris Teeter will have a new place for their new store on 4600 Duke Street aka The Shops at Fox Chase, currently being redevelop.

NEXT WEEK: We'll cover the last of the series on new development in Alexandria.

Graphics: Alexandria Econ Development.

MD Surplus for Auction

In an effort to raise revenues, State of Maryland, wanna auction their surplus of properties. Via Washington BizJournal.

Looking to get surplus government-owned property back on its tax rolls, Anne Arundel County said Wednesday it will auction a one-acre piece of Edgewater real estate formerly home to a police station.

The property being auctioned is on the corner of Route 2 and Virginia Avenue, in the southern part of the county. It's the former 40-year home of Anne Arundel's Southern District police station.

The property is located in a C-2 commercial office district, county officials said, and has been appraised by the state at $1.1 million.

Go to Washington BizJournal for the full story.

Real Estate Links

Here are selected stories from around the Internet on real estate:

* Parsing Bernankespeak Into Transparency [Matrix]
* Building Anew While Preserving the Old [Baltimore Sun]
* More Growth More Livability [Planetizen]
* Tips on Buying Rental Unit in a Resort Community [Real Estate Journal]
* Large Price Increases, Result in Tax Hits for Home Sellers [Real Estate Journal]
* Visual Evidence that Silver Spring Undergoing Urban Renewal not Revitalization [Rebuilding Place in Urban Space]
* The Arrival of West Street [Washington Post]

DC Exercises Eminent Domain

Read this on Washington BizJournal, that two D.C. judges have given permission for the City through NCRC to take over two properties about 7 acres of land at Skyland Shopping Center by eminent domain. The National Capital Revitalization Corp. have already taken over properties from willing sellers in a 18.5 acres parcel.

The pusher for eminent domain. The City wants to revitalize the Southeast part of DC. Via Washington BizJournal.

The judges' ruling late last month affects the first two of six properties NCRC hopes to own by this summer so work can begin on redeveloping the Southeast site into a $125 million, Target-anchored shopping center.

Some of the Skyland business owners are fighting back. Apparently, some willing owners have willingly let the City bought their properties. Some don't. So, it's not over yet. The story continues...

* NCRC OK to Take Two Skyland Properties by Eminent Domain [Wash BizJournal]
* Owner Thwarts NCRC Plans [Washington BizJournal]

Real Estate Links

Here are selected stories from around the Internet on real estate:

* Builders' Energy-Efficient Efforts Get More Notice As Fuel Cost Rise [BBOL]
* DC Moves Forward with McMillan's Reservoir Deal [Washington BizJournal]
* Farewell to ARMs [Hot Property]
* Baltimore and Bicycling [Rebuilding Place in the Urban Space]
* Dulles Metro Thrown for A Loop [TimesCommunity.com]
* Board Hopefuls Debate on Real Estate Tax Cap [Loudoun Times]
* Infill Development:Challenges and Confrontations [Alexandria Gazette]

Real Estate Strategies for Cooling Market

The dynamics on the market might be changing, but sensibility still rules. I had a conversation with a wannabe buyer, who thinks he can buy foreclosed properties for $40K that was advertised in a website! Tried to explain him that the price tag he saw was just a starting bid price. Sure enough, we had a conversation going back and forth. Up until the end of conversation, this guy still stick to the notion -- that if I can't help him find foreclosed properties for under that price, he wouldn't need my professional service. Oh well...

Here are the New Rules of Real Estate for a Cooling House Market, according to Real Estate Journal.

* The New Rules of Real Estate For a Cooling Market. [Real Estate Journal]

Feds Up Interest Rate to a 5-Year High

The new Chief first decision. Let there be interest rates hike. Via LATimes.

The chairman was new, but the result was the same: The Federal Reserve nudged its benchmark short-term interest rate up a quarter of a percentage point today and suggested that at least one more rate hike is coming.

It was the central bank's 15th consecutive rate hike since June 2004. The so-called federal funds rate — the interest that banks charge each other for overnight loans — now stands at 4.75%, up from a historic low of 1% two years ago.

The mortgage interest will be somewhat affected, but probably by not much.

* Fed Boosts Key Rate to 5-Year High [LA Times]

Real Estate Links

Here are selected stories from around the Internet on real estate:

* Army to Turn 1,300 Acres in MD into Simulated City [Washington BizJournal]
* Getting Graphic: Investors Take a Seat [Matrix]
* Buyers Need to Choose Wisely When Purchasing Vacation Home [Real Estate Journal]
* FACT Act's Latest: More Accurate Credit Information [Realty Times]
* Insurers Backing Off Home Owner's Coverage [Realty Times]
* The Bachelor's Pad Still Lives [NYT]

Photo: From Matrix Blog.