MBA: 2Q CRE/multifamily mortgage originations, driven by retail and hotels, up 25 percent from 2Q 2011, up 39 percent from 1Q 2012
This just in, but they “buried the lede,” as we say in the news biz. From the last graf: “Among investor types, between the first and second quarters of 2012, loans for conduits for CMBS saw an increase in loan volume of 302 percent.”
Second Quarter Commercial/Multifamily Mortgage Originations Up 25 Percent from Q2 2011
Washington, D.C. – Commercial/multifamily mortgage origination volumes during the second quarter of 2012 were up 25 percent from second quarter 2011 levels, and up 39 percent from the first quarter of 2012, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
“Commercial and multifamily mortgage lending and borrowing continued to pick up in the second quarter,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “Low interest rates and continued stabilization and growth in the commercial real estate markets are helping support new loan originations, and every major investor group increased their lending over the quarter.”
The 25 percent overall increase in commercial/multifamily lending volume, when compared to the second quarter of 2011, was driven by increases in originations for retail and hotel properties. The increase included a 56 percent increase in the dollar volume of loans for retail properties, a 22 percent increase for hotel properties, a 19 percent increase for multifamily properties, a 15 percent increase for office properties, an 11 percent increase in health care property loans. These gains offset a 5 percent decrease in industrial property loans.
Among investor types, the dollar volume of loans for commercial bank portfolios increased by 58 percent over last year’s second quarter. There was also a 50 percent increase in loan volumes for Government Sponsored Enterprises (or GSEs – Fannie Mae and Freddie Mac), a 16 percent increase in volumes for conduits for CMBS and a 10 percent increase in volumes for life insurance companies.
Second quarter 2012 commercial and multifamily mortgage originations were 39 percent higher than originations in the first quarter of 2012. Compared to the first quarter, second quarter originations for hotel properties saw a 147 percent increase. There was a 66 percent increase for office properties, a 47 percent increase for industrial properties, a 33 percent increase for health care properties, a 29 percent increase for retail properties and a 21 percent increase for multifamily properties.
Among investor types, between the first and second quarters of 2012, loans for conduits for CMBS saw an increase in loan volume of 302 percent, loans for life insurance companies saw an increase in loan volume of 37 percent, originations for GSEs increased 28 percent and loans for commercial bank portfolios increased by 9 percent.
–rm
DR Power Equipment shows how to protect your pet critters, and yourself, from raccoons and rabies
This just in:
Vergennes, Vt. – DR Power Equipment today published a new infographic designed to help property owners protect their family and pets from Raccoon rabies infection this summer.
Though human cases are rare in the United States, more than eight thousand non-human rabies infections are reported each year. Raccoon constitute approximately 50% of all these cases, and raccoons living in the eastern United States are especially likely to be carriers of the disease.
Raccoons exposed to rabies are a threat to cats, dogs, and other pets as well as humans.
Besides keeping your pets’ rabies vaccinations up to date, the simplest way to limit your and your family’s raccoon rabies risk is to keep the animals out of your yard.
1. Secure Lids of All Trash Cans.
2. Install Motion-Sensitive Security Lights Near any Outdoor Trash Area
3. Put Your Pets’ Food Up at Night
4. Stop Feeding the Birds (Raccoons will eat bird seed from feeders)
5. Never Feed or Handle Raccoons or other Wild Animals
–rm
Grubb & Ellis-Levy Beffort’s Julie Anewalt: Boeing will bring bounce to OKC CRE
The aviation and aerospace industry has a strong presence in Oklahoma and is growing. In Oklahoma City alone, the industry employs 38,000 workers. Boeing’s expansion within Oklahoma will greatly impact the commercial real estate market.
Read all about it, Anewalt’s Analytics, from Grubb & Ellis-Levy Beffort, OKC
–rm
RE/MAX Associates’ Brian Preston: Edmond, OK, home sales zooming
“June sales were up again 8% over last June. Which made Year to Date sales up 18.61 over last year. It does not look like the increase will slow down with our fourth straight month with over 600 homes under contract!
“A couple other signs are out there too. Like the absorbtion rate for $100,000 to $125,000 price range is lower than two months at this time, great news! And even in $250,000 to $300,000, there are at this time, more homes under contract than what is actively on the market.”
Read all about it in Preston’s Edmond Market Report.
–rm
Dan Green: New Home Supply Shrinks 13 Percent In One Year; Prices Rising
Read all about it in The Mortgage Reports Daily.
–rm
I’m a gatekeeper & I’m slamming the gate on ‘dicor’
What is “dicor” and where did it come from and who started it and why?
“Decor” is fine. Keep the frou-frou faux words out of news and even feature copy, please.
Seriously: Anybody who knows where it came from and who started it and why, do tell. I started seeing it in just the past few months. And I’m killing it on sight until someone persuades me to let it live.
–rm
House prices ooch up in May
U.S. house prices rose 0.8 percent on a seasonally adjusted basis from April to May, according to the Federal Housing Finance Agency’s monthly House Price Index.
–rm
Any property owners needin’ hogs shot at, give me a call
Kidding. Sort of. … I went hog huntin’ in the ’90s in Texas several times. No luck! I’d try ‘er again if I had a place to go.
Feral hogs have become troublesome to landowners and enjoyable prey for hunters. The Oklahoma Department of Agriculture, Food and Forestry in June announced several rule changes affecting tracking and transporting of feral hogs that will go into effect Nov. 1.
Read all about it in The Oklahoman.
–rm
Dollar signs posted at end of the road for Santa Monica trail park
By JOHN ROGERS
SANTA MONICA, Calif. (AP) — Sandwiched between a brake shop, gritty industrial buildings and a few modest storefronts is a little neighborhood that time has seemingly forgotten.
Santa Monica Village Trailer Park is an anachronism, a throwback to another era, one when neighborhoods filled with modest, makeshift houses constructed of tin and perched upon wheels dotted coastal cities like this one from one end of California to the other. Rents were low, sunny days were plentiful and gentle ocean breezes helped ensure that the living was easy.
At Santa Monica Village, where rents on mobile homes still range from $370 to $410 a month (in a city where apartments rent for five or even 10 times that much), the living was easy — until recently.
Read all about it from The Associated Press and Google.
–rm
Dust control. In New Mexico. … Do what?
LAS CRUCES — Changes will be made to a Las Cruces ordinance aimed at controlling the amount of dust coming from homes and businesses being constructed, despite concerns raised by representatives of the home building industry and the Greater Las Cruces Chamber of Commerce.
Read all about it from the Las Cruces Sun-News.
–rm
