Thursday, November 08, 2012

Morning Real Estate Fix


Election should have little impact on real estate market (Washington Post)  Tempting as it may be to assume a big push on real estate transaction due to a changing personnel, elections don't have that much impact on local real estate, especially with an incumbent.

16th Street Greek Orthodox Church sells  Saints Constantine and Helen church sells church building and school at 4115 16th Street, NW, to Iglesia Ni Christo for $9.2m.  Greek Orthodox community to move to Silver Spring.

Met Life mulls purchase of Constitution Center (Wall Street Journal) The insurance giant is close to purchasing the newly built building designed for federal government security in southwest DC.  The purchase price is reportedly $750m.  That would be a record for a single office building, though below initial expectations.

Washington D.C. shows no signs of an apartment construction slowdown (Property Management Insider)  DC is under its highest multi-family construction boom ever, and the highest rate in the country.  Despite delivery of recent projects, occupancy remains very high, though rent inflation seems to be slowing.

Fannie Mae expects first annual profit since 2006 (Fannie Mae)  The mortgage giant reports a $1.8 billion profit for 3Q 2012, and expects to report a net profit for the first time in 6 years.


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