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Peter Chadwick in court

Quee Chadwick Killed By Real Estate Investor Peter Chadwick?

Peter Chadwick in court

It isn’t confirmed without a shadow of a doubt that Peter Chadwick was the killer of Quee Chadwick but police have confirmed Quee Chadwick is dead. The Newport Beach Police Department was quoted telling CBS Los Angeles, “We responded out to the home and found evidence of a possible struggle or foul play. The investigation has revealed that Quee Chadwick is definitely a victim of homicide and although her body has not been located, we are currently searching the areas we believe Mr. Chadwick may have traveled.”

Prosecuters on the case against the Real Estate investor seemed to be pretty certain there was a murder. The Daily Pilot had interviewed one of the Chadwick’s neighbors who said that Quee Chadwick could be heard screaming. The screaming coming from the Chadwick’s house came around 6:30am or 7am Monday or Tuesday. Regardless the neighbor, Yulianna Nikulina said, “Peter [was] always nice, nothing wrong, nothing special. I can only tell you good things about this couple.”

The drama started to unfold when another neighbor noticed the Chadwick’s kids were waiting for a long time at the bus stop. The neighbor that saw the kids waiting called police and alerted them. It was at this point that police went to the multi-million dollar house and noticed there had been a struggle and possible signs of a murder scene.

When Peter Chadwick was attempted to be located he was nowhere to be found. Quee Chadwick was also missing at the scene and anywhere else police searched. By Thursday in the morning police in San Diego got a break in the case when Peter Chadwick called them for a reason that police will not reveal. Mr. Chadwick was soon located on a highway that wasn’t far from the Tijuana border.

Today Peter Chadwick faced a judge and pleaded not guilty. Mr. Chadwick was on a $1.5 million dollar bond and still remains in jail. It has been reported that Mr. Chadwick is charged with a felony count of murder for financial gain. The details of the case will most likely soon unfold as Mr. Chadwick faces a trial.

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Illinois Mortgage Fund Helps Struggling Homeowners

For homeowners that are having a hard time paying their mortgage on time, there may be some relief available to you. The state of Illinois has roughly three hundred million dollars lined up in a program called Illinois Hardest Hit, which is designed to assist those at serious risk of foreclosure due to a job loss or sudden drop in income. The money stems from a federal program that has the same purpose.

Homeowners on the brink of foreclosure are eligible for a special free grant that will help them catch up on their mortgage payment. The program will pay up to twenty-five thousand dollars for up to eighteen months in order to prevent anybody from losing their home. That means that even after the program has helped embattled homeowners to pay their delinquent payments, but also the monthly amount owed for many months thereafter.

Illinois has been in deep need of a program like Hardest Hit. The state has one of the worst foreclosure rates, with an astounding 5.3% of all mortgage homes having been foreclosed. Banks in Chicago own nearly one hundred thousand homes. As such, prices have plummeted in the city.

There have been programs similar to Hardest Hit in the last eight years, though none have been particularly successful due to the number of hoops that homeowners had to jump through to secure even the slightest amount of help.

Chicago officials and economists have hope that Illinois Hardest Hit will help to turn around the mortgage crisis in the Windy City.

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Commercial Real Estate Bubble Likely in China

Some parts of China are becoming increasingly vulnerable to a bubble according to many economists and developers. The bubble is expected to form as developers change their focus from the residential real estate market to the commercial real estate market. The residential market has drastically underperformed largely due in part to heavy restrictions set in place by the Chinese government.

With the residential real estate market in check, developers have had no choice but to migrate to the commercial property market in order to stay afloat. As such, there has been an abundance of new office and retail properties in recent months. The growth has taken place in big and small cities alike.

The heavy increase in the construction of these commercial properties will likely create a bubble, as supply will likely exceed demand. As such, the actions that the government has taken to prevent a housing market bubble are creating one in the commercial market.

While growth in the commercial real estate market is certainly a good thing, the problem being seen with this increase in properties being developed is that they are all popping up in the same area. Those cities with an increase in commercial real estate development have seen similar kinds of properties being built around one another. As such, economists are asking the question as to whether or not there will be enough consumers to go around. If not, the market could be facing a fairly significant bubble in the future.

After more than a year of struggle, many developers simply aren’t worried or even thinking about the future impact of the increase in commercial real estate properties.

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BGC Partners and UGL Ltd. Push Expansion Into US Commerical Real Estate

All signs are pointing to the strong possibility of real recovery in the United States commercial real estate market. Real estate brokerage and property management companies from around the globe are starting to expand their services into the United States. That indicates that investors around the globe are eyeing the United States market as being one that is quickly regaining its health.

While the real estate market as a whole is expected to stabilize and see very slow growth this year, it is expected to improve at a much faster rate in the next few years.

Companies like UGL Ltd. and BGC Partners Inc both announced plans to expand in the United States. BGC Partners Inc has already started the process by purchasing and then combining various small real estate brokerage companies.

A number of smaller upstarts are taking the same action as BGC, buying smaller competitors. While all signs are pointing to positive market growth, some economists believe that these companies may be getting too aggressive in their actions. Should the market stumble, they will be facing incredibly tough times from which they may not recover.

Running into stumbling blocks is always a possibility for new startup companies. In general, it is the manner in which business overcome those stumbles that determines whether or not they will be successful in the long term.

Nearly half of the most valued global commercial properties reside in the United States. In fact, the United States accounts for seven and a half trillion dollars in commercial properties. With the market expected to grow in the coming years, it may be worth getting into the market now as opposed to later.

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Freedom Tower:  Height Does Matter Or Does It?

Freedom Tower: Height Does Matter Or Does It?

The Freedom Tower in New York, which is the nickname for One World Trader Center is fighting the record books for the tallest building in the United States.  Earlier this month iron workers installed steel columns that make it 1,250 feet high.  Of course it’s unfinished and it’s slated to be completed in about 3 years so the official word won’t come out until then.

Officially, the current tallest building in the US is the Willis Tower (formerly known as the Sears Tower) which is 108 stories and 1,451 feet tall located in Chicago.  However, the Freedom Tower in New York will of course try to topple that.  Plans are for it to reach a total height of 1,776 feet when everything is all said and done in about 3 years.  That number is symbolic of course to the United States since that is when the Declaration of Independence was signed. Some controversy may get into the way of that official title though as the counties tallest building.

The actual roof will be listed at only 1,368 feet.  A very tall building to say the least but about 408 feet short of what they are aiming for.  To take up the other 408 feet they will utilize a cable-stayed mast which will bring it to it’s goal.  The problem is whether or not the official group that measures buildings will see the mast as just an antenna or an architectural spire.  If they consider it as part of the architectural part of the building then all is good however there is concerns since it will be also utilized as an antenna that they will consider it just that.  If it’s the latter, than they will deduct the height of the antenna from the size of the building knocking it down in size considerably and have to be officially the #2 tallest building in the United States.

No one will know the outcome of the Freedom Tower official height until it’s completed and the record keepers can take a look but one thing is for certain.  The Freedom Tower will be the tallest building in New York no matter if it has a 408 foot antenna on it or not.

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Commercial Real Estate Improving but Still Susceptible to Risks

The commercial real estate market in the United States looks to finally be improving. However, economists warn that the commercial property market could still be very vulnerable to the various economic and political risks that continue to impact the world.

Such issues as the European economic crisis, the upcoming national budget and taxation issues, and the large number of commercial mortgages set to mature this year all may cause the commercial real estate market to falter yet again. Additionally, economists warn that job creation must continue to improve for the commercial property to continue its growth.

The most recent trends have been favorable for the commercial real estate market, which does lend some hope to the future of the market. In fact, most expect that some improvement will take place in the coming months.

According to expert economists, one of the most frightening factors is the maturation of more than 1.2 trillion dollars worth of commercial mortgages that will take place over the next three years. The majority of the properties with these mortgages are currently underwater.

As such, many analysts and experts are calling on officials to intervene with new measures that will prevent the potential crisis that could come with the maturation of the underwater mortgages. However, there has been no indication that any such measures will come about to help save the commercial market.

There is still hope for the commercial real estate market to continue improving, though it could also still face enormous difficulty if the right course of action is not taken.

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Texas Named Top Commercial Real Estate Market in 2011

In a recent study analyzing the effectiveness of commercial real estate markets throughout the United States during the year 2011, Texas came away the clear-cut leader of the market. The Lone Star State posted the strongest amount of spending in pre-construction, construction, and post-construction in all categories of commercial real estate.

Texas was ranked second after 2010, but its performance in 2011 was unmatched. That state’s commercial real estate activity exceeded two hundred and fifty billion dollars. Its total growth amounted to more than twelve percent year-over-year, as the state experienced its first increase since 2007.

With a construction spending increase by twelve percent, Texas’s commercial real estate market was responsible for the creation of two million jobs nationwide. That number is expected to grow in 2012, as the market continues to show significant improvement.

Following Texas in the rankings was New York, California, Arizona, and Utah. Florida also was not far behind, largely due in part to the success of the Miami market.

Despite the increase in numbers, some economists are still skeptical about the commercial real estate sector. Most studies compare to the previous year’s results. While the information is accurate, it is also very limited. Many economists believe that a more effective and telling study would compare the numbers to how the commercial real estate sector fared in 2007 when the market was at its peak.

 

It should not come as a surprise that Texas is leading the nation in commercial real estate results, as it has become a hotbed for technology and energy companies.

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Rising Rents and Healthy Job Report Boost Housing Market

The residential real estate market in the United States is stronger than ever according to some analysts. They believe that the market is in better shape than it has been in the last three to four years. Builders are laying more plans this year than they have in recent years, and the banks are finally starting to approve more loans.

 

Although the housing market is not expected to fully recover for at least another few years, it is certainly showing positive signs of improvement. Many economists believe that the residential real estate market is benefitting most from an improving job market, and the rise in rent prices across the country.

 

More people find themselves once again employed with a stable job. As such, there is a larger population of people looking for houses in hopes of taking advantage of the current low prices. With rents rising across the country, it is quickly becoming more affordable to buy a home. As such, many renters are now entering the market in hopes of finding a deal that will reduce their monthly costs.

 

Only in areas where taxes are incredibly high is it still affordable to rent a home. That news is good for realtors and construction companies. Both sectors have seen their business grow substantially in recent months. That growth will continue over the next few years, particularly as the housing market gains even more strength.

 

There are still some concerns over the influx of foreclosures that are expected to hit the market in the coming months. Many feel that the increase in foreclosures will cause a decline in pricing, though the impact will likely be temporary.

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Commercial Real Estate Loan Delinquency Rate on the Rise

The number of commercial real estate loans falling into delinquency increased significantly during the month of March. Many loans that were secured in 2007 are now starting to come due for many businesses. As such, the delinquency rate continues to rise as many borrowers are defaulting on their loans.

 

In March alone, there was over five billion dollars in newly delinquent loans. Currently, there is over fifty-eight billion dollars in delinquent commercial loans in the United States, and the delinquency rate is nearly at ten percent.

 

The worst performing commercial real estate loans in terms of delinquency were those for office and multifamily properties. The delinquency rate for office commercial loans hit its worst level ever, nearly hitting ten percent.

 

The only commercial real estate sector to show any signs of improvement was the hotel sector, which dropped by more than forty basis points.

 

The increase in delinquency rate has not exactly come as a surprise to most economists. Many had circled 2012 on their calendars, as it is this year that many of the toxic loans from 2007 are set to come due.

 

There has been no clear indication as to what the impact will be on the market as a whole. Most economists do not believe that the increase in delinquencies will have the same impact that the residential real estate crash had in 2007. With that said, however, there will likely be a number of banks that are forced to close their doors. Five banks failed in March, adding to the four that went under in February.

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Commercial Real Estate Recovery Slowing Down

Over the past year or two, the commercial real estate market in the United States has recovered quite remarkably. However, the strong recovery experienced in the last twelve to eighteen months is finally starting to show signs of slowing down.

 

During the first quarter of 2012, the commercial real estate market posted what many would consider to be mixed results. While sectors such as the technology, energy, and business startup markets demonstrated strong momentum and unprecedented growth, others struggled and even declined.

 

Leasing volume numbers were down in most markets. Construction, in general, continues to be low in most markets. Construction activity did increase, though, in the first quarter. There is now just over thirty million square feet in development in the United States.

 

The office market showed signs of struggling as well. It took in less than one million square feet during the first quarter. That number is far less than the one plus million square feet that the market sector had absorbed in the six quarters prior to this one.

 

Uncertainty in the political and financial arenas is certainly impacting the commercial real estate markets in some of the country’s biggest cities. New York and Washington DC, for example, saw leasing velocity numbers enter a state of freefall. Those results are likely due to the uncertainty in potential regulations in the financial market, as well as the current political environment.

 

On the other hand, cities like Houston are experiencing unprecedented growth due to the growth of the energy sector.

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