The tallest office building in Burbank, Tower Burbank located at 3900 West Alameda Avenue is being taken over by Worthe Real Estate Group. Tower Burbank is a 32-story Class A office building located in the city’s media district. It is a 487,000 square foot building that was once more than 95 percent occupied with the its
Aging buildings have their charm, but most can no longer perform financially in today’s marketplace. The main tenet of adaptive re-use projects is revitalization of an existing space to enhance both the property’s performance and the satisfaction of visitors who make use of the building’s features. Owners must analyze various factors with this goal in
Assemblage presents a unique development strategy that can greatly benefit both buyers and sellers if proper market analysis is conducted. The basic idea involves pursuing an area of land that has more value than current occupants realize. Interested parties identify two or more adjacent lots that have the potential to be combined. The larger combined
Completed foreclosures dipped 40 percent for the month of January, dipping 4 percent from December 2013. Despite this promising figure, many states such as New York, Oklahoma, Connecticut, and New Jersey still posted high foreclosure rates. This considerable dip can be attributed to a rebounding economy after continuous declines in the immediate years following the
Unfortunately, for sellers, if their home remains idle on the market for weeks (and sometimes months), the likelihood that they will sell it plummets. Potential buyers begin to believe that there are problems with the home if it keeps dipping in price. This stagnant period could lead to potential buyers fighting for even lower prices, which
Builders nationwide are initiating higher prices for new construction. A recent survey distributed by John Burns Real Estate Consulting Inc., saw twenty-four percent of 231 builders citing raised prices for December 2013. Those builders who lowered prices fell 8 percent in December 2013, a significant change from a 12 percent increase of prices in October
The FHA made a recent announcement that it intends to modify their stance on lending in real estate market, likely due to improved market health. The FHA is reassessing “upper limits” on mortgages for areas with high priced homes. Approximately 650 counties in the U.S. will see this this change. The previous maximum upper limit
Homes prices in the U.S. rose 12% from August to September, with prices settling after increases seen earlier in the year. An increase in mortgage rates coupled with a rise in home prices worked to steady home sales. Now, however, prices are beginning to level off and reach more reasonable asking prices. Luckily, mortgage rates
Outstanding commercial/multi-family mortgage debt rose by an estimated $24.5 billion indicating a one percent chance in the second quarter of 2013. The outstanding commercial/multifamily mortgage debt figure of $2.45 trillion seen in Q2 comes in at $24.5 billion higher than the Q1 2013 figure. Outstanding multifamily mortgage debt reached $875 billion, a 1.3 percent
Many real estate transaction can at first be deemed as “too good to be true.” Buyers and the agents or brokers they hire to facilitate the deal often get excited about an impending deal if the numbers look to be in their favor. The harsh reality is that some impending transactions may hold considerable disadvantages