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Issues raised over new Qantas check in

first_imgThousands of frequent flyers testing out the Qantas automated check in system since July last year have complained that the new service is flawed. Despite the airline denying any issues, The Australia Services Union (ASU) federal secretary Linda White said people taking part in the experiment at Perth Airport said the system has “a lot of issues” mostly because people are not sure of how to use the system, Embrace Australia. Ms White added that the new service also required passengers to be more hands on with their baggage, an action flyers are not too keen on adding during their time at the airport. “Passengers are pretty upset about the automated check-in, especially premium passengers as they don’t want to have to do things like carry their own bags,” Ms White said. “Attacks on our members can range from being spat on or being verbally harassed, and there has been an increase in these kinds of incidents since the automated check-in systems were introduced in Perth. “It’s very hard to figure out what to do.”According to the source, the increased anger towards staff has prompted the airport to supply alarms to one quarter of the crew to be used in argumentative situations. Source = e-Travel Blackboard: N.Jlast_img read more

Russia Vietnam lead China growth

first_imgOne of the fastest growing travel destinations saw its arrivals numbers ushered up by Russian and Vietnamese visitors whose visitor numbers more than double during January this year compared to the same month 2011. According to a Hong Kong Tourism Board monthly visitor statistics report, 53.7 percent more travelers from Vietnam trekked into China during the first month of 2012 compared to last year while 55.1 percent more Russians made the journey.Leading the country’s growth, the two nations were followed by arrivals into India with 20.2 percent more visitors while Singapore came in fourth most visited  with a 15.6 percent growth.Meanwhile the number of visitors into China from Japan fell by 17.2 percent from 113,373 to 93,861 a figure disrupted by the quake that struck Japan early last year.Arrivals from Thailand also took a hit in January this year with 21.3 percent less visitors while arrivals from France fell 12.3 percent.In total the region saw its arrival number grow by 15.1 percent more than month while Mainland China alone welcomed 23.9 percent more people over the same period. Source = e-Travel Blackboard: N.Jlast_img read more

Tiger on time Jetstar jammed

first_imgTiger takes off, while Jetstar stays grounded According to Government statistics, Tiger Airways has made a promising return to the Australian market with the best on-time performance, while Jetstar was the worst domestically. Tiger reported a 90 percent on-time performance rate, while Jetstar lagged at 77 percent. Qantas and Virgin Australia’s on-time performance was 83 percent. Tiger was grounded last year and forced to return on a reduced schedule, making way for the 24 percent increase in on-time arrivals, according to the Bureau of Infrastructure, Transport and Regional Economics. Tiger Airways spokeswoman Vanessa Regan said the airline was pleased with the punctuality of flights over the past year and was continuing to resume domestic services gradually.“The airline is ramping up services with its new Sydney base and all 10 aircraft will be flying by September 2012 with up to 64 daily services by October 2012.” A Jetstar spokesperson blamed the unpredictable weather at airports in south-east Queensland, where Jetstar fly more than half of their domestic services.“Aircraft patterns typically touch multiple airports within a given day,” he said.“A weather delay in Coolangatta could impact the Sydney service.” Source = e-Travel Blackboard: P.Tlast_img read more

Homer Simpson vs Sydney Opera House

first_imgHomer at the Opera HouseHomer Simpson vs Sydney Opera HouseCartoonist genius and The Simpsons creator Matt Groening will visit Australia for the first time, appearing exclusively at the GRAPHIC Festival at Sydney Opera House. Spilling the Duff on everything from The Simpsons to Futurama, tickets are still available for Matt Groening In conversation with “his biggest inspiration”, the seminal cartoonist/writer and Eisner Hall of Famer, Lynda Barry.Matt Groening in conversation with Lynda Barry: Love, Hate & ComicsWHEN:             Saturday 5 November 2016, 4.00pmWHERE:           GRAPHIC – Concert Hall, Sydney Opera HouseTICKETS:         graphic.sydneyoperahouse.com/matt-groening-and-lynda-barry/ Source = Sydney Opera Houselast_img

THAI announces 2016 operating results

first_imgSource = THAI Airways International THAI announces 2016 operating resultsTHAI announces 2016 operating resultsThai Airways International Public Company Limited (THAI) and its subsidiaries announced an operating profit of THB 4,071 million (412.2% better than the same period last year) after deduction of maintenance provision for operating lease aircraft, special expense related to the transformation plan, and impairment loss of assets and aircraft.  The total amount of these items was THB 6,173 million while gain on foreign currency exchange was THB 685 million resulting in a net profit of THB 47 million, which was an improvement from the THB 13,047 million loss in the same period last year.Mrs. Usanee Sangsingkeo, THAI Executive Vice President of Aviation Business Unit, and Acting President, said that THAI continued to implement its second phase of the transformation plan “Strength Building” in 2016 by embarking on four main strategies:1) generating aggressive revenue,2) reducing cost and increasing efficiencies,3) building capabilities for sustainable growth, and4) creating excellent quality of service.THAI implemented these tasks by using information technology with international standards to enhance revenue management and to implement its new business class service, to launch new routes: Bangkok-Tehran, Iran, Phuket-Frankfurt, to resume the Bangkok-Moscow route, to add flight frequencies in Europe, and continuation of last year’s MSP program.Furthermore, THAI adjusted its fleet strategy by taking delivery of 2 Airbus A350-900XWB aircraft that primarily operate on intercontinental routes while it decommissioned 2 Boeing 777-200 operating lease aircraft on 31 December 2016 with 95 aircraft remaining in the fleet, which is the same amount as the end of the previous year but with improved aircraft utilization.  Consequently, product traffic (ASK) of THAI and its subsidiaries increased by 1.9% while passenger traffic (RPK) increased by 2.5%.  The average cabin factor was 73.4% higher than last year which was 72.9% with 22.3 million passengers carried, representing a 4.8% increase from last year.As a result of development in various areas based on the strategic plan and satisfactory success of the organization’s transformation, there was an overall improvement in customer satisfaction evident from various awards that the Company received.  In addition, the financial performance in 2016 of THAI and its subsidiaries showed an operating profit of THB 4,071 million compared to last year’s loss of THB 1,304 million or 412.2%, a vast improvement from last year mainly because total expense decreased by 7.1% from the decrease in fuel expense by THB 17,907 million (28.3%) resulting from the jet fuel prices that dropped by 21.6% and improved fuel risk management, net finance cost reduced by THB 431 million (7.7%) due to efficient cash management and financial restructure, while non-fuel operating expense increased by THB 4,773 million (3.9%) mostly due to increase in maintenance and overhaul expenses.  Total revenue decreased by THB 8,190 million (4.3%).  Passenger and excess baggage revenue reduced by THB 4,428 million (2.9%) due to fuel surcharge adjustment while other revenue reduced by THB 3,775 million since last year, the main reason being that last year THAI received insurance compensation from the delayed delivery of economy class seats at the amount of  THB 3,968 million.In 2016, THAI and its subsidiaries had a one-time cost item that resulted from aircraft maintenance based on actual conditions of aircraft and maintenance contractual obligations of THB 1,317 million, transformation plan expenses of THB 1,228 million, and impairment loss of assets and aircraft of THB 3,628 million but had a THB 685 million gain on foreign currency exchange.  Consequently, THAI and its subsidiaries reported a net profit of THB 47 million.  Profit attributable to owners of the parent amounted to THB 15 million.  Profit per share was THB 0.01 or 100.2% higher than last year’s loss per share of THB 5.99.As of 31 December 2016, total assets were THB 283,124 million, a decrease of THB 19,347 million (6.4%) from 31 December 2015, mainly due to short-term and long-term repayment, additional provision of impairment of aircraft and aircraft sold during the year.  Total liabilities as of 31 December 2016 totaled THB 249,536 million, a decrease of THB 20,009 million (7.4%) from 31 December 2015.  Total shareholders’ equity amounted to THB 33,588 million, an increase of THB 662 million (2.0%). Fly THAIbook here nowlast_img read more

Dream Hotel Group opens Asia Pacific Regional Office in Bangkok

first_imgDream Hotel Group opens Asia Pacific Regional Office in BangkokRenowned hotel brand and management company Dream Hotel Group is pleased to announce the opening of its first international office in Bangkok – a milestone moment as the business continues to rapidly expand its footprint across the Asia Pacific region. Home to its Dream Hotels, Time Hotels, The Chatwal and Unscripted brands, Dream Hotel Group encompasses three business lines: Proprietary Brands, Hotel Management and Dining & Nightlife.In addition, Michel Serrano has been appointed as Chief Operations Officer, Asia Pacific, overseeing operations for Dream Hotel Group’s regional office. Reporting into Kevin Wallace, Managing Director, Asia Pacific, Serrano marks the first of several major appointments to be announced this year.“We are pleased to welcome Michel to our team as we continue to grow our brand in Asia,” said Dream Hotel Group CEO Jay Stein. “Michel is a seasoned hotelier with global hospitality experience, who will play a pivotal role in strengthening the Dream Hotel Group’s presence in the region. The opening of our Asian headquarters under Kevin Wallace marks another key milestone in our continued growth and evolution.”“I have known Michel for several years now, and he is a first-class operator who will be a great addition to the regional team’s effort,” added Kevin Wallace, Managing Director, Asia Pacific, Dream Hotel Group.Dream Hotel Group plans to open more than 30 hotels and resorts in Asia over the next four years. The company most recently partnered with Empire Group to develop Unscripted Cocobay Danang in Vietnam, set to open in August 2017, as well as other projects in the region to be announced soon.Earlier this year, Dream Hotel Group announced the signing of two hotels in the Maldives with local entrepreneur Mohamed Manik and Alpha Kinam Holdings to develop The Chatwal Maaga Maldives and Dream Gasveli Maldives, set to open in 2019 and 2020 respectively. The news follows that of the signing of Dream Hotel Group’s first hotel in Vietnam with locally owned Beegreen Group. Set to open in summer 2017, Dream Oceanami Villas & Spa, located in Long Hai, Ba Ria-Vung Tau Province, will be the first of four new resort hotels developed by Beegreen Group and managed by Dream Hotel Group in Vietnam over the next two years.Combined, these new locations triple the group’s presence in Asia and mark a pivotal step in Dream Hotel Group’s global expansion strategy.“Dream Hotel Group is gaining impressive momentum in Asia Pacific,” added Michel Serrano, COO, Asia Pacific, Dream Hotel Group. “I am delighted to take up this new role and believe we are well positioned for future success and growth in the region.”Prior to joining Dream Hotel Group, Serrano has held positions in the hospitality industry for the past twenty years in many corners of the world, including Mexico, Saudi Arabia, Abu Dhabi, Australia, Paris, Vietnam and Thailand. Serrano served most recently as CEO of Odyssea Hospitality in Ho Chi Minh City before taking his new role with Dream Hotel Group in Asia. He also held several positions with Centara Hotels and Resorts in Thailand.The company plans to sign more than 150 hotels and resorts worldwide across all its brands – Dream, Time, The Chatwal and Unscripted – over the next four years, continuing to solidify its burgeoning international portfolio.Source = Dream Hotel Grouplast_img read more

Sydney Airport welcomes new Qantas service to Osaka

first_imgQantasSydney Airport welcomes new Qantas service to OsakaSydney Airport welcomed the commencement of Qantas’ new direct Sydney-Osaka service today, marking a new route for the airport.The three-weekly service will operate on an Airbus A330 aircraft, adding 92,000 seats annually.Sydney Airport Managing Director and Chief Executive Officer Kerrie Mather said the new route would provide additional capacity to meet growing demand from travellers.“We’re thrilled that Qantas has recognised the strength of this growing market with its new service,” Ms Mather said.“This new Qantas service is a fantastic boost for tourism, as it’s expected to bring in an additional 24,000 Japanese visitors and $50 million in additional visitor expenditure per year for NSW,” Ms Mather said.“Japan is also one of the most popular destinations for Australian travellers. Osaka is our largest unserved market and Sydneysiders will be excited to now have a direct route to Osaka in time for the busy holiday period.“The city of Osaka offers a new gateway for Australians to explore Japan, particularly the beautiful Kansai region, the neighbouring historic city of Kyoto, and its great shopping, restaurants and nightlife.”Japan is Sydney Airport’s sixth largest origin and destination market, growing 15 percent in the past year.Minister for Tourism and Major Events Adam Marshall said the NSW Government is working with Qantas and travel trade partners to further promote the new year-round service.“Sydney is undisputedly the gateway to our great State and we are delighted to be welcoming the new Qantas service, set to encourage more Japanese visitors to explore our sparkling Harbour City, iconic attractions and beautiful rural and regional destinations,” Mr Marshall said.“With record numbers of visitors flying into Sydney and travelling beyond into rural and regional NSW, we look forward to boosting the State’s visitor economy as a result of this new service and ensuring NSW is the number one choice for Japanese travellers.”Tourism Australia Managing Director John O’Sullivan said Tourism Australia was already working closely with Qantas to promote the new Osaka service in Japan, including supporting a party of Japanese media travelling to Australia on the inaugural flight.“The travel trade in market are really excited about the new service. As we’ve seen in the past few years, improved air access has really helped turn around the Japan market. Being able to fly direct to Australia from Osaka is hugely significant. When combined with the high-speed rail network that serves the airport, this new service effectively opens up a huge catchment area of potential holidaymakers for Australia across southern and western Japan,” Mr O’Sullivan said.Source = Sydney Airportlast_img read more

W Hotels returns to Sydney in 2020

first_imgW SydneyW Hotels returns to Sydney in 2020W Sydney set to mark the third hotel in Australia following W Brisbane (now open) and W Melbourne (2020)Harbouring a long-held crush, W Hotels Worldwide, part of Marriott International, today announced its grand re-entry to the iconic harbour city with the highly-anticipated signing of W Sydney. Built and developed by Grocon and funded by Greaton Group, W Sydney will make waves with its debut slated for 2020. The new-build hotel will be part of ‘The Ribbon’, an electrifying development designed by the award-winning architect HASSEL that will transform Sydney’s skyline on Darling Harbour. With its game-changing Whatever/Whenever service and bold design, W Sydney will shake up the city’s social scene, turning traditional luxury on its head.“Sydney – with its glamorous energy, cultural diversity and statement architecture – is the perfect match for W Hotels,” said Anthony Ingham, Global Brand Leader, W Hotels Worldwide. “Wherever my travels take me, I am asked again and again when W is returning to Sydney, and I am thrilled to finally be able to answer the question. With the long-awaited return of the W brand in Sydney, Australia will now have three W hotels, along with W Brisbane and W Melbourne – demonstrating just how important and exciting this continent is for global travel.”W Sydney will feature 593 stylish guestrooms, suites and serviced apartments. Guests can spend lazy days or wild nights at the WET DECK®, the brand’s iconic pool deck with shimmering, Insta-worthy views of Darling Harbour. A restaurant serving up local flavors as well as two bars, including the brand’s signature see-and-be-seen Living Room, will round out the hotel’s buzzing cocktail and cuisine scene. W Sydney will also be home to the W brand’s signature AWAY® Spa , as well as a state-of-the-art FIT gym, and 925 square meters of event  space (including a grand ballroom) which will set the stage for creative meetings and sparkling social ocassions.“The boundary breaking approach to luxury from W Hotels is a worldwide phenomenon, and there is no better city than Sydney to shake off convention and shake up the way it’s always been done,” said Richard Crawford, Senior Director Hotel Development, Australia, New Zealand and Pacific, Marriott International. “We are excited to have found the right location and the right partner who shares our vision. The property will be a game-changer for Sydney and an absolute market leader when it comes to luxury hotels in the city.”The opening of W Sydney will mark the third W in Australia alongside W Brisbane (just opened in June 2018) and W Melbourne (opening 2020). Together with recent openings like W Amman, W Panama and W Shanghai, the Aussie openings will bring W Hotels close to its goal of 75 hotels by the end of 2020. W Sydney will also be part of Marriott International’s rapidly-expanding portfolio of 18 hotels in Australia. The signing of W Sydney marks close to 20 properties under development in Australia including The Ritz-Carlton Melbourne, The Ritz-Carlton Perth, and The Tasman, A Luxury Collection Hotel, Hobart. For more information, visit www.whotels.com or follow along on Twitter, Instagram, and Facebook. Source = W Hotels Worldwidelast_img read more

Final British Airways heritage livery arrives at Heathrow

first_imgFinal British Airways heritage livery arrives at HeathrowFinal British Airways heritage livery arrives at HeathrowThe fourth and final British Airways aircraft in a heritage livery has touched down at Heathrow this morning.  The Boeing 747 adorns the Negus design which was originally on the British Airways fleet from 1974-1980.The arrival of the aircraft rounds off a nostalgic few weeks for the aviation community. Enthusiasts around the world have already been treated to a British Overseas Airways Corporation (BOAC) liveried Boeing 747, a British European Airways (BEA) Airbus 319 and a British Airways Landor 747, which have collectively flown to more than 30 destinations across the UK, Europe, Africa, the Middle East and North America.The special series of designs have been introduced to mark British Airways’ centenary, as the airline celebrates its past while looking to the future. Alongside the heritage liveries, all new aircraft entering the fleet, including the A350, will continue to receive today’s Chatham Dockyard design.The Negus-liveried 747-400, registration G-CIVB, entered the IAC paint bay at Dublin Airport earlier this month where it was painted with the first version of the Negus livery which adorned the British Airways fleet from 1974-1980, directly after the merger of BOAC and BEA and the formation of the airline that customers know today. The aircraft will head to Cape Town later today for its first commercial flight in its retro design.Alex Cruz, British Airways’ Chairman and CEO, said: “Reintroducing four heritage designs in to our fleet has been an incredibly nostalgic time for us and our customers, we’re impressed at how popular they’ve been.  In our centenary year it’s important that we celebrate our past, and we also have big plans to look to the future. I’m excited about what the rest of this year has in store.”When it initially flew, the Negus livery was the first to carry “British Airways” since 1939, when the original British Airways Limited merged with Imperial Airways to form BOAC. Interestingly, the Union Flag is not present on the side of the aircraft as, like the final BEA aircraft livery, the flag began to be fully celebrated on the aircraft’s tailfin instead.In its centenary year, British Airways is hosting a range of activities and events. The airline is hosting BA 2119 – a programme, which will lead the debate on the future of flying and explore the future of sustainable aviation fuels, the aviation careers of the future and the customer experience of the future.The airline will be working with expert partners to identify BA’s 100 Modern Britons; the people up and down the country who are currently shaping modern Britain, and of course, the year would not be complete without creating some special moments for customers – on and off board.The centenary activity is taking place alongside the airline’s current five-year £6.5bn investment for customers. This includes the installation of the best quality WiFi and power in every seat, fitting 128 long-haul aircraft with new interiors and taking delivery of 72 new aircraft. Earlier this week the airline also revealed its highly-anticipated new business class seat – ‘Club Suite’ – and confirmed it will arrive on the first of its A350 aircraft in July.Source = British Airwayslast_img read more

Why Rental Activity Remains A Bright Spot for Housing

first_img Share Why Rental Activity Remains ‘A Bright Spot’ for Housing While the lights of the housing market continue to flicker, rental market activity has been a bright spot, said “”Freddie Mac’s””:http://www.freddiemac.com/ U.S. Economic and Housing Market Outlook for June.[IMAGE]The enterprise’s report, released Tuesday, showed that newly formed households seem more interested in renting over owning as the economy struggles to get back on its feet. Freddie Mac expects this trend to continue for the near future.””Further increases in rental demand are likely in the coming year as newly formed households postpone homeownership decisions until the economy strengthens and they have accumulated sufficient savings,”” said “”Frank Nothaft””:http://www.freddiemac.com/bios/exec/nothaft.html, VP and chief economist for Freddie Mac. “”Overall apartment market trends may show further vacancy declines and rent gains, with property values improving as well.”” The report showed that over the year ending March 2012, an additional 1.5 million households moved into rental housing, a 4 percent increase in a year. [COLUMN_BREAK]The Census Bureau has also reported that rental vacancy rates in buildings with at least five apartments have dropped more than two percentage points over the past two years. In addition, both Reis and Axiometrics have reported increases in occupancy rates during the two years through the first quarter of 2012.Rents have begun to rise in a number of metropolitan areas as rental markets tighten. A broad market measure prepared by the Bureau of Labor Statistics shows a rent increase of 2.5 percent during Q1 2012 compared to a year ago. Reis found a 2.8 percent gain in its markets during the same period, while Axiometrics reported a 4 percent rise in nominal rents. However, average rent adjusted for inflation stayed below where it was for most of the decade prior to the Great Recession.The increase in rental demand has helped enhance property values, on average up about 25 percent during the past two years from the low during Q1 2010. This level is still 14 percent below the pre-Great Recession peak, but the increase has prompted a supply response from developers. Starts of buildings with at least five apartments have increased 48 percent in the first five months of 2012 when compared to the same period in 2011. The National Association of Home Builders reported that its Multifamily Production Index jumped to its highest reading since 2005, and its index for market-rate rental construction reached its highest level since the series’ start eight years ago. Construction of rental apartments in buildings containing at least five dwellings is expected to add nearly 200,000 in 2012, the highest increase in one year since 2008. June 20, 2012 438 Views center_img in Data, Government, Origination, Secondary Market, Servicing Agents & Brokers Bureau of Labor Statistics Freddie Mac Housing Starts Lenders & Servicers Processing Service Providers 2012-06-20 Tory Barringerlast_img read more

Carrington Mortgage Services Expands Staff with 14 New Hires

first_imgCarrington Mortgage Services Expands Staff with 14 New Hires Share April 17, 2013 424 Views in Data, Government, Origination, Secondary Market, Servicingcenter_img Carrington Mortgage Services’ “”Wholesale Lending Division””:http://carringtonwholesale.com/ announced it has added 14 professionals to its sales staff to better provide in-market services to brokers and borrowers.[IMAGE]The Santa Ana-based company added individuals to its offices all over the United States in order to “”bolster its wholesale lending business by expanding its breadth of product and extending its market reach.”” The hiring initiative is another step in Carrington’s efforts to more effectively serve brokers and their Realtor partners. Earlier this year, the company launched its 30-Day Loan Closing Program designed to create a shorter, more predictable timeline to secure financing. Also launched in 2013 was an FHA (Federal Housing Administration) Streamline Ready to Close Program, which enables borrowers to close eligible refinance loans any day of the month with no additional interest.In addition, Carrington’s Wholesale Lending Division plans to make FHA 203k loans available later in April.””Carrington has worked diligently to refine its operational processes over the past year, enabling us and the brokers we partner with to offer an extended product portfolio backed by exceptional service,”” said Ray Brousseau, EVP of Carrington Mortgage Services’ Mortgage Lending Division. “”We have significantly grown our sales staff in order to more effectively share the benefits of these advancements with a larger base of brokers, realtors and borrowers, and to support the growing demand for quality loans and flexible, expeditious closings across these groups.”” Agents & Brokers Attorneys & Title Companies Carrington Company News Investors Lenders & Servicers Processing Service Providers 2013-04-17 Tory Barringerlast_img read more

Report Jobs Recovery to Drive Up Home Prices

first_imgReport: Jobs Recovery to Drive Up Home Prices Share in Data, Origination Agents & Brokers Attorneys & Title Companies Home Prices Homebuilders Housing Permits Housing Starts Housing Supply Investors Jobs Lenders & Servicers Service Providers 2013-09-16 Tory Barringercenter_img September 16, 2013 450 Views Even as housing inventory starts to recover, the basic fundamentals of supply and demand–as measured by new starts versus job growth across the nation–point to continued price growth, according to one expert at “”John Burns Real Estate Consulting””:http://www.realestateconsulting.com/.[IMAGE]””Price appreciation is largely driven by the degree to which demand exceeds supply,”” said senior consultant Adam Artunian. “”While the best short-term measure of the housing demand/supply balance is months of supply of homes on the market, the best long-term measure is the ratio of household formations to new home construction.””However, since the firm regards household formation data as “”highly unreliable,”” Artunian’s analysis uses job growth as a substitute, taking for a given that there are typically 1.2 jobs per household.[COLUMN_BREAK]Nationally, the employment growth-to-permit (E/P) ratio is 2.5, up from 2.3 last year and well above the “”equilibrium level”” of 1.2. Eighteen of the top 20 markets have an E/P ratio higher than the equilibrium.According to Artunian, demand exceeds supply the most in many markets that are still in the very early stages of recovery–such as Chicago, where job growth exceeds permit growth by a factor of seven. Parts of Texas, such as Dallas and Houston, are also experiencing job growth outpacing new homes, even with construction picking up speed. Meanwhile, price growth is stunted in markets in the Midwest and along the East Coast, owing largely to distressed supply. Once those excesses clear, “”these markets are poised to appreciate quite well,”” Artunian said.Overall, the analysis shows demand still exceeds supply in 90 percent of major markets.In addition, Artunian believes the connection between job growth and price gains will become more pronounced as other market trends–such as inventory and mortgage rates–stabilize.””It is important to note that in most markets elevated E/P ratios are primarily the result of historically low housing supply, rather than strong job growth,”” he said. “”Price appreciation will be even more closely tied to job creation as new supply comes online and mortgage rates continue to rise to more historic norms.””last_img read more

Report April Inventory Robust Compared to 2013

first_imgReport: April Inventory ‘Robust’ Compared to 2013 Inventory and price continued to rise for the month of April, suggesting a healthier national housing market, according to the National Housing Trend Report released by Realtor.com. The group cited trends from the previous year, which found “dramatic shortages” being replaced in 2014 by moderate home price gains in tandem with increasing inventories.Realtor.com believes the bumps in both inventory and asking price suggest a strengthening national economy.”Home prices and inventories are more in balance in most markets—a sign of improving housing health and optimism across much of the country,” said Steve Berkowitz, CEO of Realtor.com operator Move, Inc. “As sellers gain confidence, we also are watching spring sales data closely to gauge whether buying activity will be in line with these early indicators.”Compared to the previous year, inventories in April were up 14.2 percent to roughly 2 million, while the median list price rose 6.5 percent year-over-year to $207,500. The time homes spent on the market was an average of 86 days, a 6.2 percent increase compared to the year before.The report noted that although some reports showed a cooling market in the beginning months of 2014, pending home sales in March experienced their first gain, rising 3.4 percent.The company’s report also commented on the slowing rate of home appreciation. The company believes that slowed appreciation signals that housing is becoming more affordable as rising equity comes more in line with asking prices.”However, these deficits aren’t as large, suggesting these markets are not likely to experience the kind of unsustainable appreciation that states like California experienced during most of 2013. While California, Nevada and Arizona continue to see supply-driven increases in prices in many markets, supply is beginning to catch up with demand,” the company said.Energy sector states continue to post strong gains in the housing market, with Texas and Colorado exceptionally strong. May 30, 2014 616 Views Sharecenter_img in Daily Dose, Data, Headlines, News Home Prices Housing Supply Move Inc. Pending-Home Sales 2014-05-30 Colin Robinslast_img read more

SingleFamily Housing Starts Make a Comeback

first_img Census Bureau Construction Housing Starts Residential Data 2016-05-17 Staff Writer in Daily Dose, Data, Government, Headlines, News Single-Family Housing Starts Make a Comeback Home building in the U.S. picked up again in April after reaching the slowest pace in seven months, easing some of the previous concern surrounding the construction sector.The U.S. Census Bureau and the HUD on Tuesday jointly released new residential construction statistics for April 2016. The report showed that privately-owned housing starts rose 6.6 percent from March’s rate of 1,099,000 to 1,172,000 in April at a seasonally adjusted annual rate. However, year-over-year, housing starts are down 1.7 percent from last April’s rate of 1,192,000.Meanwhile, single-family housing starts were at a rate of 778,000 in April, up 3.3 percent from the March figure of 753,000, the Bureau and HUD reported.”On a three-month moving average basis, single-family starts have been effectively flat since February, despite recent monthly volatility,” said Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB). “NAHB expects growth in single-family construction in the months ahead, given ongoing strength in the labor market and favorable demographics. Consistent with this forecast, single-family permits are running 8.4 percent higher in April than a year prior.””April usually sees a big increase in starts over March in the non-seasonally adjusted number as the weather is normally more hospitable to construction on site across the country,” said Realtor.com Chief Economist Jonathan Smoke. “This year’s increase of 21 percent is less than last year’s 36 percent but otherwise is the strongest April increase in 20 years.”Brian Betzler, Regional Sales Manager for TD Bank (based in Florida) said in response to today’s report, “Following a sharp slowdown in the first quarter, housing starts made a comeback in April. This rebound puts sales back on track for the ongoing recovery of the housing market.”Privately-owned housing units authorized by building permits rose 3.6 percent from March’s rate of 1,077,000 to a seasonally adjusted annual rate of 1,116,000 in April. However, building permits are down 5.3 percent year-over-year. Single-family authorizations in April were at a rate of 736,000, 1.5 percent above the revised March figure of 725,000. Authorizations of units in buildings with five units or more were at a rate of 348,000 in April, the report said.According to the Bureau and HUD, privately-owned housing completions fell 11 percent from March’s estimate of 1,048,000 to a seasonally adjusted annual rate of 933,000 in April. Completions are also down 7.4 percent from the April 2015 rate of 1,008,000. Single-family housing completions are down 3.6 percent from the revised March rate of 717,000 to 691,000 in April. The April rate for units in buildings with five units or more was 232,000.”It remains highly likely that the less severe winter this year pulled forward more activity into February, leading to last month’s disappointing March. It is good to see that April reversed that temporary decline in total activity,” Smoke said. “However, the declining year-over-year trend in multi-family construction looks to be real and reflects caution by developers to maintain the historically high level of apartment and condominium construction. Since household formation is outpacing completions, a lower level of multi-family new construction activity will keep vacancies low and will likely maintain above-average increases in rents.”The Collingwood Group Chairman Tim Rood identified a few warning signs associated with the homeownership rate in today’s residential report.“The homeownership rate now is around 63 percent—the lowest in 50 years,” Rood said. “It will likely be at or near 60 percent in a year’s time as the seriously delinquent population ends with a foreclosure or foreclosure alternative that results in a family no longer owning a home. That’s a slippery slope. If we can’t give first time homebuyers a shot at homeownership. When and/if the homeownership rate drops below 60 percent it could be a falling knife and create real pressure on home value.”Click here to view the full report.center_img May 17, 2016 722 Views Sharelast_img read more

Costly Coastlines

first_img June 6, 2018 470 Views 2018-06-06 Alison Rich Share in Daily Dose, Data, Headlines, journal, Newscenter_img Would-be buyers casting their net for a shelter by the shore would be wise to take note: according to a new CoreLogic study, the nation’s priciest places to live are largely located on its two coasts. And amid today’s morphing marketplace—i.e., new limits on state and local tax deductions compounded by a drop in the mortgage interest deduction—potential purchasers might not bite if the price isn’t right.A quick glance at CoreLogic’s methodology: Employing data pulled from public records to assess the high-cost locales, the company first estimated the annual mortgage interest payment for each county it studied. Then it pinpointed the median annual property tax amount and then ranked the counties by total cost, identifying the top-100 highest-cost counties.On the West Coast, California hosts a high concentration of expensive communities, CoreLogic reports. Twenty-two Golden State counties made the list—all of them adjacent to or close to the coast; 16 of those also residing in the top-50 list. Four California counties—San Mateo, San Francisco, Marin, and Santa Clara—had an average 2017 loan origination amount over the new maximum of $750,000 and a median property tax amount north of $6,000.Prices are also making waves on the East Coast, the study found. There, New York and New Jersey together represent 23 of the top-100 counties and 28 percent of the top 50. Last year’s (gulp) $924,000 average loan amount in New York, New York, outstrips the new origination limit for mortgage interest tax.Although it’s between the coasts, Texas’ surging property tax amounts gained that state a seat at the top-100 table, with five counties materializing on the list. While not in the top 50 when looking at both mortgage interest expense and property tax, four of them—Collin and Denton (Dallas-Plano-Irving CBSA), Travis (Austin-Round Rock CBSA), and Fort Bend (Houston area)—have median property taxes topping $5,000. If ranked by property tax amounts alone, each of those four counties would rank in the top 50.Read the full study on CoreLogic’s site here. Costly Coastlineslast_img read more

Homeowners Regret—How Many Would Return to Rental

first_imgHomeowners’ Regret—How Many Would Return to Rental? May 10, 2019 684 Views in Daily Dose, Data, Featured, News, Origination Sharecenter_img According to a study from LendingTree, though most homeowners say they prefer owning over renting, more than 1 in 10 say that they would like to go back to renting.Young homebuyers report the highest dissatisfaction with homeownership. LendingTree reports that 23% of Gen X homeowners and 21% of millennials are dissatisfied with their home, compared to 4% of baby boomers and 3% of homeowners aged 73 and older. Additionally, almost a quarter of parents with kids under the age of 18 are dissatisfied with their home.According to LendingTree, factors impacting homeowner outlook on renting vs. owning can include the level of commitment that goes into becoming a homeowner, as well as the financial responsibilities involved.Rents increased 2.9% year over year in February 2019, and CoreLogic states that Single-family rents climbed steadily starting in 2010, and annual rent increases have stabilized, fluctuating between 2.7 and 3.1% for the past 12 months. However, in some metros, renting is still cheaper than owning. LendingTree compared monthly rental and mortgage payments for homes in the 50 largest U.S. metros to rank the top locales for each option. LendingTree’s list of cities where renting is cheaper than owning a home includes Louisville, Kentucky; Milwaukee; Oklahoma City; and more.This preference for renting could be good news for investors. Real estate investments, including rental properties, are more popular than ever, according to a recent Gallup poll. That poll found that 35% of Americans consider real estate to be a superior investment over stocks, compared to 27% who said stocks were a wiser choice.For these investors, “opportunity zones” may be the way to go.Department of Housing and Urban Development Secretary Benjamin Carson was recently interviewed on Fox News’ “The Next Revolution with Steve Hilton” to talk the proposed new regulations aimed at making it easier for investors to take advantage of tax breaks for investing in “Opportunity Zones” in low-income areas.Going forward into 2019, real estate investment will be about “looking good,” according to Chris Dunlap, VP and Risk Services Lead for Hub’s National Real Estate Practice.“Properties that maintain—or improve—their standing will be best positioned to keep costs at bay,” said Dunlap. “The proven way to do this is to invest in tighter risk management, including disaster preparedness ahead of the next catastrophic event and engaging your property policy broker to do what they do best—negotiate on your behalf.” homeowners Renting 2019-05-10 Seth Welbornlast_img read more

PHOENIX – Many names have already been thrown out

first_imgPHOENIX – Many names have already been thrown out as potential head coach candidates for the ASU job, but Cardinals running back Beanie Wells believes his former coach Jim Tressel would be a good fit in Tempe.“If I was ASU, I would jump on him immediately. He’s a good football coach and would work wonders for the program,” said Wells on the Arizona Sports 620’s Doug and Wolf show Tuesday. What an MLB source said about the D-backs’ trade haul for Greinke 0 Comments   Share   Tressel was forced to resign back in May amid allegations of rules violations during the 2010 season.While Wells was quick to point out Tressel’s accomplishments, he also said it would be prudent for ASU to be cautious.“With any situation, you want to be cautious and see the sanctions and the penalties he’s going to have to face,” said Wells.Tressel is an intriguing name and would be a major splash if ASU were to hire him, but it’s hard to say if he’s learned his lesson because the last thing ASU needs is a major scandal in a few years. Top Stories center_img Nevada officials reach out to D-backs on potential relocation D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Cardinals expect improving Murphy to contribute right awaylast_img read more

The 5 Takeaways from the Coyotes introduction of

first_img The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Comments   Share   In his two seasons at Nebraska, the standout defensive end had 17.5 sacks, 120 total tackles and two forced fumbles. He also had two interceptions, with one resulting in a touchdown. Gregory was named second-team All-American and first-team All-Big-Ten in 2014. Former Cardinals kicker Phil Dawson retires Derrick Hall satisfied with D-backs’ buying and selling Top Stories The Cardinals are just one of many teams Gregory has visited leading up to the draft. Just last week, he met with the Baltimore Ravens and the Jacksonville Jaguars. He plans to visit the Pittsburgh Steelers and San Diego Chargers next.The former Cornhusker has been involved in some off the field issues in the last year and a half. Gregory tested positive for marijuana at the NFL combine, something that could affect his draft stock.That was just the latest incident in a detailed history involving marijuana. Gregory jeopardized his season in 2014 when he failed two drug tests; one in January and one in April.The Cardinals are interested in the defensive end because they have a need for a pass rusher. Just three players had more than two sacks last season, and Arizona was 24th in the NFL with 35 sacks as a team. One of the best pass rushers available in the upcoming draft visited the Arizona Cardinals over the weekend. On Sunday, #Nebraska DE Randy Gregory visited the #AZCardinals, source said. As you can imagine, he’s had a busy few weeks.— Ian Rapoport (@RapSheet) April 13, 2015 Grace expects Greinke trade to have emotional impactlast_img read more

Of the three straight teams head coach Bruce Arian

first_imgOf the three straight teams head coach Bruce Arians has fielded with double-digit wins, the 2015 Cardinals are best suited for a deep postseason run, thanks to a balanced offense, excellent deep passing game and defense that excels at forcing turnovers.Marvez had previously given the Cardinals a ‘B’ in the first quarter and a ‘B+’ at midseason.The Cardinals boast the league’s top offense, averaging 419.5 yards and 31.8 points per game. Their defense ranks fourth overall, yielding an average of 316.8 yards per contest. Arizona is the only team in the league to be ranked in the top five in both total offense and total defense.The Denver Broncos and Cincinnati Bengals also earned ‘A’ grades at the three-quarter mark, while the New England Patriots got an ‘A-‘.The undefeated Carolina Panthers were the only team to get a mark of ‘A+’.In what may be a much more telling sign of the league this season, Marvez gave 10 teams an overall third-quarter grade of ‘D’ or worse, with the Cleveland Browns, San Diego Chargers and Tennessee Titans all earning ‘Fs’. – / 24 There’s no two ways about it — the Arizona Cardinals have been one of the NFL’s best and most consistent teams in 2015.Currently riding a six-game winning streak that includes impressive wins over the Seattle Seahawks and Cincinnati Bengals, Bruce Arians’ team sits at 10-2 and has a comfortable three-game lead in the NFC West with just four regular-season games remaining.Alex Marvez of Fox Sports handed out his third-quarter NFL report cards the Cardinals are one of five teams to earn an ‘A’ for the session. Derrick Hall satisfied with D-backs’ buying and selling The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories Former Cardinals kicker Phil Dawson retires Arizona Cardinals running back David Johnson, right, catches a 10-yard pass for a touchdown as St. Louis Rams linebacker Akeem Ayers defends during the third quarter of an NFL football game on Sunday, Dec. 6, 2015, in St. Louis. (AP Photo/Tom Gannam) Comments   Share   Grace expects Greinke trade to have emotional impactlast_img read more

The 5 Takeaways from the Coyotes introduction of

first_img The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo 8 Comments   Share   Asked Larry Fitzgerald about his plans today. Said, “About to tee off shortly, that’s on my mind right now.” Obviously https://t.co/3fkdo0R61Y— Ian Rapoport (@RapSheet) January 29, 2018According to Warner, how successful Fitzgerald believes the team can be is one of the bigger factors in the wide receiver’s decision. “I think he feels like he can still do it,” Warner said. “But I know he wants to win a championship and compete for a championship.”Former head coach Bruce Arians and Warner have the same feeling that Fitzgerald will return under the right circumstances.“I think Larry will do the right thing for him,” Warner said. “I think if he feels like it’s a great situation to succeed and be a part of this new regime, then he’ll be back.” Derrick Hall satisfied with D-backs’ buying and selling LISTEN: Kurt Warner, NFL Network analyst and Cardinals great Warner has sensed a different tone when talking to Fitzgerald about possibly retiring this offseason compared to years in the past.“There were times where I got more of a sense that I got that he was leaning towards maybe not coming back,” Warner said. “Last couple of times I’ve talked, I really feel like he wants to come back and play this season and he’s more committed to it. But that was before all the changes that took place.”Despite the recent offseason changes, Warner believes that Fitzgerald will take a step back and evaluate the team.“I think he’s probably sitting back and going, ‘OK, let me meet (head coach) Steve Wilks, let me meet (offensive coordinator) Mike McCoy, let me see what happens at the quarterback position before I finalize this,’” Warner said. “But I get the feeling that he is going to come back.” Arizona Cardinals wide receiver Larry Fitzgerald walks off the field following the team’s NFL football game against the Seattle Seahawks, Sunday, Dec. 31, 2017, in Seattle. The Cardinals won 26-24. (AP Photo/John Froschauer) Former Cardinals kicker Phil Dawson retires Your browser does not support the audio element. As familiar faces move on from the Arizona Cardinals and new faces come in, fans can only sit and wonder if the team’s all-time leading receiver, Larry Fitzgerald, will come back to play another season.However, Fitzgerald’s former Hall of Fame quarterback believes that Fitzgerald is leaning toward competing for at least one more season.“When I had conversations with him I get the sense that he is coming back,” Kurt Warner said on 98.7 FM Arizona Sports Station’s Bickley & Marotta Monday. “He feels like he can still contribute and play, and play at a high level.” Top Stories Grace expects Greinke trade to have emotional impactlast_img read more