“A lot of the sub-contractors are seeing an increase in business, yet they’re reluctant to hire staff or have an inability to hire skilled labor, so we’re seeing delays with framers coming onto our properties to frame the houses, we’re seeing challenges with drywall finishers and painters,” says Paul.

Many builders are also seeing supply constraints, as they did not expect to see such a surge in demand. Demand is strong in large part because there is such a small supply of existing homes for sale nationwide, and because banks have been exceedingly slow to work through foreclosures in some states.

(Read More: Home Prices See Record Gain in April)

“About one third of homes sold are completed, down pretty significantly from where we were earlier in the cycle, which was in the 50 to 60 percent range,” notes David Goldberg, an analyst at UBS.

While the major public builders have not voiced concern publicly over risks to their backlogs, the analysts that cover them say if rates continue to rise, they will not be able to ignore it.

—By CNBC’s Diana Olick. Follow her on Twitter @Diana_Olick or on Facebook atfacebook.com/DianaOlickCNBC.

Questions? Comments? RealtyCheck@cnbc.com

Article source: http://www.cnbc.com/id/100849156

SAN FRANCISCO–(BUSINESS WIRE)– Terreno Realty Corporation (NYS: TRNO) , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired two industrial buildings containing approximately 138,000 square feet located in Miami, Florida on September 25, 2012 for a purchase price of approximately $12.1 million. As part of the acquisition Terreno Realty Corporation assumed a mortgage loan with a total principal amount of approximately $6.2 million with a fixed annual interest rate of 5.84%. The mortgage loan has a maturity date of March 2014.

The buildings are at 7500-7600 NW 26^th Street in Miami’s Airport West submarket, approximately one mile from the west cargo area of Miami International Airport and 100% leased to one tenant. The estimated stabilized cap rate of the property is 7.4%.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate located in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2011 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise.

Terreno Realty Corporation
W. Blake Baird
Michael A. Coke
415-655-4580

KEYWORDS:   United States  North America  California  Florida

INDUSTRY KEYWORDS:

Article source: http://www.dailyfinance.com/2012/09/25/terreno-realty-corporation-acquires-buildings-in-m/

San Jose, CA (PRWEB) October 17, 2011

With the economy bumping along the bottom, and stalemates in Washington preventing any legislative action, many people are starting to talk about a double-dip recession. But AccessBanc Mortgage, a Bay Area mortgage broker, says there is one group benefiting from the bad economy: borrowers. Mortgage-backed securities have recently hit all-time lows, which means interest rates on home loans are at ridiculously low rates, making it an excellent time to refinance a mortgage.

“Right now is an incredible opportunity to get historically low interest rates on a mortgage,” says Greg Erny, a Principal at AccessBanc Mortgage. “If you have been considering taking out or refinancing a mortgage loan, you won’t find a better time to apply. Even if you obtained a loan within the last year, interest rates have probably gone down low enough to refinance again.”

In an attempt to boost the slower-than-expected economic recovery, the Federal Reserve recently began purchasing more long-term bonds and mortgage-backed securities, which has the effect of pushing down long-term interest rates. This year, interest rates on the 30-year Treasury Bond had already hit a 60-year low, and this move by the Fed will most likely push them even lower.

For those looking to purchase a new home, this is great news. Home prices are currently low, and with interest rates at unheard-of lows, people may be surprised to discover the kind of home they can now afford.

For current homeowners, refinancing has never looked better. “If you thought your current mortgage rate was low, you’d better check again. Given these ridiculously low rates, it’s time to call AccessBanc Mortgage to determine whether it is time for you to refinance again,” says Erny.

For more information about historically low interest rates or any of AccessBanc’s products or services, call them at (408) 514-5312 or visit www.accessbanc.com.

About AccessBanc

AccessBanc is a San Francisco Bay Area mortgage broker committed to offering the most seasoned, professional, and competent loan consulting talent available. Because their Loan Consultants enjoy favorable lender terms, use state of the art technology, and apply innovative solutions to knowledgeably work the market, they can offer prospective borrowers extremely competitive mortgage rates and great service.

Their services include: refinance, home purchase, first-time homebuyers, conventional conforming loans, jumbo loans, second/vacation homes, investment/rental properties, pre-qualification and pre-approved letters, and home equity loans / lines of credit. From home finance in Marin to first-time homebuyers in San Jose, AccessBanc’s carefully selected Loan Consultant Team can help Bay Area borrowers find the right loan.

AccessBanc Mortgage is a Real Estate Broker licensed by the California Department of Real Estate, License #00892684. NMLS #311147.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebbay-area-mortgage-broker/san-francisco/prweb8881754.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/10/17/prweb8881754.DTL

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San Francisco, CA (PRWEB) October 12, 2011

California Property Tour — American Investor Association(AIA) has kicked off a National tour in the San Francisco Area. American Investor Association has scheduled 4 free events Oct 18th – 22nd and you are personally invited to attend.                                        

The opportunities are never ending; AIA is teaching the average person how to invest in real estate with today’s market. They show hard facts on what investors are buying, where they are buying, and how they are paying for it. American Investor Association is so detailed that they show what they are buying(multifamily, single family, Land, tax deeds).

AIA is taking education to the next level. They will be teaching Notes, Factoring, lease to own, Tax deeds, Rentals, Land Contracts. If you are interested in Real Estate it’s time to take advantage of this opportunity. Click here

American Investor Association has been actively involved in today’s changing economy. With that said look at what the government has done with interest rates. They are at an all-time low!! Look at the big picture, 4% rate on a mortgage loan, is amazing for investors. The country has gone through a very large recession; American Investor Association has searched the country to find the best deals and highest returns. It’s time to take action!

To register go to:

http://www.uspropertytour.com or call 801-709-2771 ext 709 or e-mail tlarson(at)nwreal(dot)com

Tony Larson

801-709-2771

http://www.uspropertytour.com

###

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Article source: http://www.prweb.com/releases/2011/10/prweb8870372.htm

SAN FRANCISCO, Aug 08, 2011 (BUSINESS WIRE) –
Terreno Realty Corporation


/quotes/zigman/580648/quotes/nls/trno TRNO
+0.06%



announced today that
during the quarter ended June 30, 2011 it acquired five industrial
properties consisting of five buildings containing approximately 400,000
square feet for an aggregate consideration of approximately $55.9
million, including the assumption of one mortgage loan of approximately
$14.8 million with a fixed annual interest rate of 5.5%. The following
table summarizes the acquisitions for the quarter:

                                       Number of               Purchase Price
         Property Name    Location     Buildings  Square Feet  (in thousands)
        -------------  -------------  ---------  -----------  ----------------
        Belleville     Kearny, NJ          1         211,418        $  32,600
        Glasgow        Inglewood, CA       1          27,505            4,100
        Bollman        Savage, MD          1          98,745            7,500
        Dell           Carlstadt, NJ       1          27,410            7,725
        70th Avenue    Miami, FL           1          35,000            4,000
                                      ---------  -----------          -------
           Total                           5         400,078        $  55,925
                                      =========  ===========  ======= =======

As of June 30, 2011 Terreno Realty Corporation owned a total of 39
buildings aggregating approximately 2.9 million square feet, which were
approximately 71.6% leased.

Further, on July 20, 2011, Terreno Realty Corporation acquired one
industrial property in Torrance, California containing approximately
73,000 square feet for a purchase price of approximately $12.4 million,
including the assumption of one mortgage loan of approximately $6.8
million with a fixed annual interest rate of 5.5%. In addition, the
following table summarizes properties that Terreno Realty Corporation
has under contract as of August 8, 2011. There can be no assurance that
the Company will purchase such properties which are subject to customary
closing conditions:

                                       Number of               Purchase Price
                   Market              Buildings  Square Feet  (in thousands)
        ----------------------------  ---------  -----------  ----------------
        Miami                                 1       40,000        $   4,400
        Northern New Jersey/New York          1      150,500           10,350
                                      ---------  -----------          -------
           Total                              2      190,500        $  14,750
                                      =========  ===========  ======= =======

Additional information, including the Company’s quarterly report on Form
10-Q for the period ended June 30, 2011, is available on the company’s
website at
www.terreno.com .

Terreno Realty Corporation is an acquirer, owner and operator of
industrial real estate located in six major coastal U.S. markets: Los
Angeles; Northern New Jersey/New York City; San Francisco Bay Area;
Seattle; Miami; and Washington, D.C./Baltimore.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws. We caution investors that
forward-looking statements are based on management’s beliefs and on
assumptions made by, and information currently available to, management.
When used, the words “anticipate”, “believe”, “estimate”, “expect”,
“intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”,
and similar expressions which do not relate solely to historical matters
are intended to identify forward-looking statements. These statements
are subject to risks, uncertainties, and assumptions and are not
guarantees of future performance, which may be affected by known and
unknown risks, trends, uncertainties, and factors that are beyond our
control, including risks related to our ability to meet our estimated
forecasts related to stabilized cap rates and those risk factors
contained in our Annual Report on Form 10-K for the year ended December
31, 2010 and our other public filings. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated,
estimated, or projected. We expressly disclaim any responsibility to
update our forward-looking statements, whether as a result of new
information, future events, or otherwise.

SOURCE: Terreno Realty Corporation

        Terreno Realty Corporation
        W. Blake Baird, 415-655-4580
        Michael A. Coke, 415-655-4580

Copyright Business Wire 2011

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Add TRNO to portfolio

TRNO

Article source: http://www.marketwatch.com/story/terreno-realty-corporation-announces-quarterly-investment-activity-2011-08-08?reflink=MW_news_stmp

The report on inventory and price activity, released Thursday, pointed out that the median price of a single-family home in L.A. County was $301,300 last month, compared to $271,540 in May— an 11 percent rise.

But compared to a year ago, prices were down 3.9 percent. The median level represents the midpoint of values.

Median home prices in California in June rose 1 percent to $295,300, from $292,420 in May, according to the report. 

Compared to a year ago, prices across the state were off 5.9 percent as the median price of a single-family home was $313,890.

As for home sales in the county, figures showed that existing home sales were up 2.4 percent from May to June, and down 11.6 percent from June 2010.

Sales of existing homes statewide rose 1.2 percent month-to-month, according to the report. The median number of days it took to sell a home was 50.3.

“Looking across the state, a number of areas are showing signs of strength, especially in the San Francisco Bay Area, primarily because of the strong performing tech industry,” said California Association of Realtors Chief Economist Leslie Appleton-Young in a statement.   

But the association’s president, Beth Peerce, warned in a statement that the positive signals shouldn’t be interpreted as a turnaround for the state’s real estate market.

Federal changes to mortgage loan limits and down payment requirements set to take effect Sept. 30 could “adversely affect the market,” she said.

June 2011 county sales and price activity for existing single-family detached homes:

(Source: California Association of Realtors)

— City News Service contributed to this report.

Article source: http://hermosabeach.patch.com/articles/home-prices-rise-countywide