Posts Tagged ‘Kansas City’

All-cash Home Sales Fall Nationally, Save Several Metros

August 19th, 2014 Comments off

pending sale  paul sakuma  AP Photo creditAccording to RealtyTrac, all-cash deals comprised 38 percent of all home sales in the second quarter of 2014, a drop from 42 percent in Q1 2014, as institutional buyers—those buying at least ten homes annually—are finding good deals drying up. They accounted for 4.7 percent of all home sales, a drop from six percent in 2013, as CNNMoney reports. The good news is that as institutional buyers leave the market, there is more room for first-time homebuyers. But with home prices up over 20 percent from 2012 historic lows, the bad news is first-timers may already be priced out of the market. MHProNews has learned over 50 percent of all home sales in Las Vegas are for cash, and the percentage is only slightly lower in Detroit, Kansas City, Philadelphia, Cleveland and New York. In the Miami metro area cash sales comprised 64 percent of all home sales. ##

(Photo credit: Paul Sakuma/Associated Press)

Park Street Acquires MHC in Kansas

July 14th, 2014 Comments off

Private investment firm Park Street Partners acquired the Cherrywoods Manufactured Home Community in the Kansas City area. The 45-homesite all age, four star community sits on six acres in Ottawa, Kansas, reports Jefferson Lilly of Park Street says the company intends to make Cherrywoods into “the premier affordable housing option for families on a budget in Ottawa.” While the terms of the sale were not disclosed, the community was built in 1997, and Broker Jeff Mueller, formerly of Marcus & Millichap and now with CBRE, represented the seller. MHProNews understands Park Street, headquartered in Ladera Ranch, California has investments in a number of manufactured housing communities in several states. ##

(Image credit: CBRE)

The Fed Says Housing Market Slowly Rising

March 7th, 2013 Comments off

HousingWire informs MHProNews the Federal Reserve’s February Beige Book of growth in economic activity indicates the real estate market in almost all the districts recorded strong improvement as inventories shrank and home prices rose. While in Philadelphia low-end prices were firm or rising and the prices of high-end homes were falling, the districts of Boston, Dallas, Kansas City, Minneapolis, San Francisco and St. Louis showed modest gains overall. Home construction rose in most districts except in Kansas City where it remained unchanged. Multifamily building increased in several districts, but financing problems have stymied Atlanta and Cleveland in that regard.

(Photo credit: benzinga)

Federal Reserve District Banks upbeat on Housing Market

September 3rd, 2012 Comments off

According to nationalmortgagenews all 12 Federal Reserve banks reported improvements in residential real estate in their districts, as noted in the Beige Book. Compiled on Aug. 20, the snapshot says the housing market is “positive with continued increases in activity expected.” While the Philadelphia and Kansas City banks remain cautious about the shadow inventory in their districts entering the market, the New York, Richmond and San Francisco branches have noticed a reduction in the number of distressed properties. Atlanta, Boston, and Dallas banks report inventory of homes for sale is declining, pushing prices up. As MHProNews has learned, at the same time, Boston, Cleveland, and Kansas City districts predict gains will be modest moving forward.

(Image credit: Wikipedia)

Fed Reports Increased Real Estate Activity

February 29th, 2012 Comments off

Construction Site in Dallas, Eric Miller PhotoReports from the twelve Federal Reserve Districts suggest that overall economic activity continued to increase at a modest to moderate pace in January and early February. The Fed reports manufacturing continued to expand at a steady pace across the nation, with many districts reporting increases in new orders, shipments, or production and several districts indicating gains in capital spending, especially in auto-related industries. Activity in nonfinancial services industries remained stable or increased. Reports of consumer spending were generally positive, except for sales of seasonal items. Residential real estate market conditions improved somewhat in most districts, with several reports of increased home sales and some reports of increased construction. Residential real estate activity increased modestly in most Districts. Boston, Cleveland, Richmond, Atlanta, Kansas City, and Dallas reported growth in home sales, while New York noted steady to slightly softer home sales. Philadelphia reported strong residential real estate activity. In contrast, home sales declined in St. Louis and San Francisco noted that home demand persisted at low levels. Boston, Atlanta, Chicago, Minneapolis, Dallas, and San Francisco reported increased multifamily construction activity. Banking conditions generally improved across the districts. Of the districts reporting on hiring, most indicated a slight increase. Prices of final goods and services were relatively stable in most districts.

(Image Credit: Eric Miller)