US home prices are actually still rising

first_img(Credit: iStock)A look at home prices and one might forget there’s a virus sending the economy into chaos.The bottom hasn’t fallen out from under the housing market, at least not in terms of pricing, according to the Wall Street Journal. In fact, the National Association of Realtors found the national median home price rose 8 percent year-over-year in March to $280,600.The pandemic hasn’t created the imbalance that sends prices shooting up or down. While sales fell 8.5 percent in March from February, the pandemic has also brought down supply — total listings hit a five-year-low at the end of April.“Demand absolutely just got a kick in the gut, but at the same exact time, so did supply,” said Zillow Group senior economist Skylar Olsen.That was seen on a smaller scale as well. Hard-hit Manhattan saw an 89 percent drop in new listings in mid-April. Multi-million dollar deals continue to close in New York, but just at a much slower pace.Sellers haven’t yet been forced en masse to drop prices and move properties. Many are holding out, hoping that they can still cut a deal without a discount once stay-at-home orders are lifted and buyers can again see homes.Only about 4 percent of sellers cut their prices in the week ending on April 25, compared to 5.7 percent of sellers who cut prices during the same week last year.Overall, American homeowners are in a better financial position than they were before the last economic crisis, so fewer are expected to be forced into listing their properties. [WSJ] — Dennis Lynch This content is for subscribers only.Subscribe Nowlast_img read more

PICOR reports recent transactions

first_imgCODAC Behavioral Health Services purchased the 18,606 square foot office building located at 1025-1075 E. Fort Lowell in Tucson from Ventura Canyon Property, LLC. Tom Knox, SIOR and Paul Hooker, with Cushman & Wakefield | PICOR, represented the buyer. Dan Wesson with The Waterfall Group represented the seller in this transaction.Marana Health Center, Inc. leased 16,243 square feet, filling nine suites at 3690 S. Park Avenue in Tucson from William Lee, LLC. Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.last_img read more

Gazprom, Enagas Discuss LNG Supplies to Europe, Latin America

first_imgGazprom’s Chairman Alexey Miller met in Moscow with CEO of Enagas Marcelino Oreja where they discussed cooperation in liquefied natural gas supplies, particularly from the Baltic LNG project to the European and Latin American markets.The meeting noted that Spain had a potential to become one of the major consumers of LNG from the project, Gazprom said in a statement.At present, Gazprom supplies LNG to more than ten countries. The company’s goal is to build up its presence in the promising markets, to be achieved, at first place, through increasing its own production.The company’s Vladivostok-LNG project, which has an annual production capacity of 10 million tons with the potential for further expansion, entered the investment stage in February 2013. The project Investment Rationale will be completed in the first half of 2014. The plant with the capacity of up to 10 million tons a year will start commercial production in 2018.[mappress]LNG World News Staff, December 13, 2013; Image: Gazpromlast_img read more

EU Backs Development of Northern Adriatic Ports

first_imgSource: inea The EU’s TEN-T Programme will back with almost €3 million studies on a better connection between the northern Adriatic ports and the main rail and inland waterways networks in the region.The studies will focus on improving the hinterland access of the sea ports of Trieste, Venice (Italy), Koper (Slovenia) and Rijeka (Croatia) and the inland ports of Chioggia, Porto Levante and Mantova (Italy) to the core European transport networks by rail and inland waterway connections.In specific, the project will:Prepare an advanced analysis for future investments in these ports;Promote cooperation and agreements between ports, freight operators and inland terminals to improve services;Promote efficient sea-rail freight intermodal solutions to integrate the ports into the core transport corridors crossing the northern Adriatic;Foster sea-river co-modal services and integration of the sea ports of Venice and Chioggia into the Po river system;Promote investments in Information and Communication Technologies (ICT) to improve the efficiency of the short sea shipping and its interconnection with other transport modes.The project was selected for EU funding with the assistance of external experts under the TEN-T Multi-Annual Call 2013, ‘Motorways of the Sea’. Its implementation will be monitored by INEA, the European Commission’s Innovation and Networks Executive Agency.The project is to be completed by December 2015.last_img read more

1-0 PBA finals lead not safe – Magnolia Hotshots

first_imgMagnolia Hotshots’ Rome dela Rosa, Rafael Reavis and Ian Sangalang ganged up on Alaska Aces’ Mike Harris in Game 1 of the 2018 PBA Governors’ Cup best-of-seven finals at the SM Mall of Asia Arena in Pasay City. PBA PHOTO MANILA – If there is one team that knows a Game 1 victory in the best-of-seven finals series is not a guarantee of a PBA championship, it should be the Magnolia Hotshots.Two conferences ago, the Hotshots drew first blood in the 2018 PBA Philippine Cup finale with San Miguel Beermen. But the latter went on to win the next four games to clinch the crown.In the ongoing 2018 PBA Governors’ Cup titular showdown, the Hotshots again took the 1-0 advantage after shooting down Alaska Aces, 100-84, in the series-opener on Wednesday evening at the SM Mall of Asia Arena in Pasay City.Hotshots head coach Chito Victolero said their experience against the Beermen would serve as a lesson for his crew not to be complacent of the Aces ahead of Game 2 tonight at the Smart Araneta Coliseum. “We are happy to win Game 1 but this is only the start of the series. After (Wednesday) night, we need to prepare hard for Game 2. Our mindset is do-or-die,” said Victolero.Added the former Mapua Cardinals mentor: “There’s a long way to go. Hindi kami dapat mag-relax. Kailangan naming mag-push pa because it’s a best-of-seven series. Isa pa lang nakukuha naming.” Andy Mark Barroca and Jiovani Jalalon, who both played a key role in the Hotshots’ Game 1 victory, agreed that they should be prepared for the planned comeback of the Aces in Game 2.“Maganda lang ‘yung depensa namin (noong Game 1) and ‘di lang maganda ‘yung opensa (ng Alaska). Next game magbabago ‘yan, kailangan namin trabahuhin,” Barroca said.Jalalon added: “Hindi namin alam gagawin ng Alaska sa Game 2 kaya kailangan prepared kami. Nanalo kami ng Game 1 pero hindi pa tapos ‘yung laban, kasi ganoong-ganoon din ang nangyari sa amin noong Philippine Cup.”/PNlast_img read more