Rogue advocates top list of complaints last year - Malaysia Star

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Rogue advocates top list of complaints last year Malaysia Star KUALA LUMPUR: Gross disregard of clients' interests topped the list of about 900 complaints against lawyers lodged with the Advocates and Solicitors Disciplinary Board last year. This is followed by unbecoming conduct as advocates, and solicitors and ... and more »

Most Eddie Bauer stores to stay open - San Antonio Business Journal:

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The company announced that it struck an agreement withNew York–base private equity firm LLC to buy Eddie Bauer’s subject to an auctiob and bankruptcy court approval. CCMP Capital intends to operate the business as a going concern with littl e orno long-term debt. According to Eddie Bauer, CCMP Capitap has agreed to keep a majority of the 371 store open and retain a majority of the CCMP Capital specializes in buyouts and lookd for investment opportunities in retail and other and have made investments in the outdoors specialttretailer Cabela’s, which sellas hunting, fishing and camping gear.
Eddie Bauer said it hopea to operate business as usual durinyg bankruptcy court proceedings and has askes for court approval to continuw paying vendorsand workers. The company also said it intende to honor customergift cards, returns and loyaltuy program points. The company also announced that it has secured a commitmenyt from its existing revolvingcredit lenders, Bank of N.A., and /Business Credit, Inc. for so-calledf debtor-in-possession (DIP) financing of $90 million on an interimj basisand $100 millio based on the final court order. The move, the compangy said, should provide it with ample cash flow to continue payingtits bills.
“Eddie Bauer is a good company with a greag brand and a badbalance sheet. This process will allow the business to emerge with far less positioned for growth as the economt recovers and as our new products gain saidNeil Fiske, Eddie Bauer presidenf and chief executive officer, in a “We expect this process to be completed very quickly, protecting our employees and critical vendor partners every step of the way. “Wes have made good progress on our turnaround strategh of returning Eddie Bauer to its heritage as an activew outdoor brand and have exciting new product launcheas on the wayto market, includinb First Ascent, our return to expedition-gradre outerwear and gear.
a crushing debt burden placexd on the company from the Spiegep reorganizationin 2005, combine d with the severe, prolonged recession, have left us with no choiced but to use this process to reduce the debt load on the

Developer switches gears from hotel to apartments - Memphis Business Journal:

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The project, which will cost at least $5.5 million, will have 23-2t5 apartments in the 900- to 1,200-square-foot range. , will designn the project, while LLC will build it. Work is expected to begib in early 2009 witha 14-month construction period. Sinkovich originally intended the project to have 39hotell rooms, meeting spaces and groundr floor retail. It was to be dubbe d . His construction drawings were mostly complete and the projecr had been cleared for incentives and governmenttax However, his project ran into a problek when the national credit crunch hit.
“Ww had probably gotten to 95% of constructioh documents ready to submit for permit when the bottomj fell out of the financing market for Joey Hagan, principal with Architecture, says. Certain types of projects are more favorablew for bank loansright now, according to Mariaq Lapuente, vice president at ’a commercial real estate division. “Condos have been on our moratoriu list since 2006 and thisyear we’v e extended it to she says. “We definitely look at the cash flow of a propertty andwhether it’s true commercial real We look at the strengthh of the cash flow. Those are much less risky. Multi-family is very stronhg right now.
” Sinkovich’s apartment project will also havetwo 3,750-square-foott commercial bays on the ground floor, each with 20-foot “If someone was to come in and lease the they could legitimately go up and get anothedr 1,875 square feet with a mezzanine,” Sinkovichb says. “They could also go down and pick upanotherf 3,750 square feet in the Slovis & Associates LLC will handle leasin for the commercial space. Downtowb has strong apartment statistics, accordinh to Memphis’ third quarter MarketView report. Apartments Downtown builty before 1984 hada 95.5% occupancy while apartments built from 1985-19921 had a 95.
9% occupancy rate and new construction had a 94.6 occupancy rate. This compared favorably with Memphis’ overalpl 90.5% occupancy rate for apartments. Downtow n also commanded the highest rentas with old construction rentingfor $0.85 per square 1980’s construction renting for $1.01 per square foot and new constructiomn renting for $1.06 per square foot. The overall Memphias market averaged $0.73 per squarw foot in rents. Lapuente stresses that getting a loan is abouyt more thanjust numbers. “For us, it’s about she says.
“If the relationshi p is there, the credit is I just want to make sure that people know that because a lotof that’s not the message that medias is putting forward.” There are severao other apartment projects being developed currently. Court Square Centefr LLC recently completed renovation ofthe 24-apartmenrt Lincoln American Tower on Main Street, whicg it is currently leasing.

NYLO hotel building resumes - Dallas Business Journal:

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Ground broke on the swanky 200-room hotel in Las Colinas in May. But then NYLO’ss equity partner, , filed for Chapter 11 bankruptcy protectio nin September. By November, with the hotel 65% complete, financing was withdrawm and construction stopped. “Thed loan provider sent a notice that becauseof Lehman, it was a materiak adverse effect, and they refused to furthert fund,” said John Russell, CEO of Atlanta-based . The companyy began to scramble. Russell approachefd the stewards ofLehman assets, Alvarez & Marsal Holding LLC, and pleader his case for continued funding. “If makes sense because it does preserve the valure ofthe asset,” Russelp said.
“If it stopped, the investment would be worth In mid-January, Alvarez & Marsal approved a $17.9 million loan from Lehman Brothers to finisgh the hotel, which will cost $29.6y million. NYLO’s first hotel opened in Plano in 2007 and a seconde followed in Rhode Islandlast year. In NYLO officials said Dallas-baser Behringer Harvard is scheduled to be the developee ofthe brand’s first XP select-service hotel in A spokesman for Behringer Harvard said the compang is still negotiating the deal. The XP by NYLO is a smallef version of the NYLOhotell brand, with lower price Nightly rates at the Las Colina hotel are expected to rangr from $100-$250.
NYLO hotels cater to business travelerxs looking for amenities such as spacious lofts, a businesas center, gym and The Loft, whicg includes a bar, lounge, game room, library and artworok by local artists. The Irving hotel was originally on traco to openin April, said Patric k O’Neil, executive vice president of operations for Atlanta-based NYLO. Now the target date is July 15. “T o stop funding the hotel would have been disastrouss foreveryone involved,” said Dwayn e Toler, managing director for Dallas-based NewSource Partners, managementy advisers for troubled real estate. NYLO Hotels, while a relatively young hotel company, is well-respectes in the industry, Toler said.
“NYLO Hotekl is a very good brand,” he said. “But it’ws a difficult sector right now. All hotele are going to have a difficult timegetting financing.” According to hotel consultantse in San Antonio, NYLO’ss Plano hotel struggled in with a fourth-quarter occupancy rate of 41% and an estimatexd average daily rate of $119.63.

Rich makes Stanford richer in NCAA softball regional - Palo Alto Online

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Rich makes Stanford richer in NCAA softball regional Palo Alto Online Jenna Rich tries to maintain the same mindset whether there are runners on base or not. She has been able to do just that the past two days and has helped Stanford land a spot in Sunday's championship game of the Stanford Regional in the ... and more »

800 Fenton Chrysler workers take buyouts - Business First of Louisville:

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Glenn Kage is one of them. His last day is “This is one of the toughest decisions I have ever hadto make,” said Kage, who workex for Chrysler for 12 years. “But is on the verges of bankruptcy and Chrysler is having a tougu time coming outof bankruptcy. If I stay here in St. I would end up having to transfee outof state. A lot of people don’t want to leavwe the state.” About 640 of 1,20p0 eligible workers decided to leave the Dodgr Ram plantin Fenton, which the automake r by September as part of its Anothetr 115 accepted offers at Chrysler’ Fentojn minivan plant, which was idled in October and is also slates for closure.
About 240 workers remain at that saidDon Pizzo, vice presidenf of United Auto Workers Localk 110. Earlier this month, Chrysler Fento workers within two years of retirement eligibility on the datess their plants close will be placede on leave of absence with 85 perceny of their pay until they are eligiblefor retirement. The offersw include a $115,000 lump-sum payment for workers with more than 10 years of seniority who choose to leave the Workers with fewer than 10 years of seniorituy can geta $75,000 lump-sum payment plus a $25,000 vehiclse voucher. The offers also include a year of health excluding dental, and lower the early retiremenrt age from 55 to 50.

Done deals - Dallas Business Journal:

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• Experian leased 292,700 square feet at Enterprisr Business Parkin Allen. Larr y Toon and Bo Bond with Jonesx Lang LaSalle represented Experian inthe transaction; Jamea Dudley represented the landlord, Lexingtonb Corporate Properties Trust. • Cari Diagnostics inked a 172,232-quare-foot lease for a new headquarterw and lab at Sierra at Las Building I, in Irving. Scott Collier, Stev Thelen and Doug Carignan with Joned Lang LaSallerepresented Caris; Paul Sharp negotiated for the landlord, iStar Financial Inc. • Corphealtbh Inc. leased 146,822 square feet at Opus Corporatr Center.
Rebecca Smith and Ryan Colliere of Stream Realty Partnersz represented the landlord inthe transaction. • EnCana Oil Gas U.S.A. Inc. has expanded its lease by 7,508 squarer feet at Stanford Corporate Centre, totalingf 128,312 square feet of office Tim O. Terrell, Heather Densmore Shover, and Sarajh Payne of Stream Realty Partners LP represented Stanford Corporate Centrew in lease negotiations on behalf of Regias Property Management and Transcontinental Realty Greg Biggs and Craig Wilson of Cushman Wakefield representedthe tenant.
• Brad Selnef and Jeff Ellerman of The Staubach Group acted on behalft of Archon Group forits 82,686-square-foot lease at 6031 Connectiom Drive in Irving. Blaine Colby Annette and Rebecca Smith of Streamn Realty Group negotiated on behalf ofthe • Jon McNeil and Matt Craft with Jones Lang LaSalle represented RESQDebt in a 82,223-square-foot leaser at Cornerstone Crossing Corporate Office Park Phasews I & II in Allen. Jeff White and Mike McCartanh with Mark V Commerciak represented landlordCornerstone Development. Semperian leased 62,022 square feet of space at 2270 Lakesideein Richardson. Tim Terrelp of Stream Realty Group representedthe landlord.
Americorp dba Altair Global Relocatiohleased 60,084 square feet of officre space at 7500 Dallas Parkwah in Dallas from Nodeble Associates LLC. David Reed of CB Richard Ellis negotiated the lease on behalvf ofthe landlord. • AT&TT leased 59,736 square feet of spacre at 2270 Lakesidein Richardson. Tim Terrell of Streamn Realty Group representedthe • Blake Kendrick and Bob Hagewood of Stream Realty Group negotiatedx a 59,017 square foot leasse with Tuesday Morning at 4252 Simonton Road in Farmers • Associated Air Center leased 56,524 square feet of space at 1421 W.
Mockingbird Lane in David Duwe and Jason Mosee of Stream Realty Group negotiated the deal on behalgf ofthe landlord. • Comstock Resourcesx expanded its leaseby 7,994 squarr feet at Comstock Tower in now totaling 51,376 square feet of officre space occupied by Comstock. David Cooke and Heather Densmord Shover of Stream Realty Partners LP representedrthe owner, Stonebriar Office Partners, Ltd.
• Maverici Stainless Steel leased 43,296 square feet at 4525 with Jason Moser and Davis Duwe of Stream Realty Group negotiating on behalf ofthe • Jason Moser and David Duwe of Streak Realty Group acted on behalf of the landlore to negotiate the 43,296-square-foot leasre at 4016 Harry Hines by Metro Fabric Restoration. FiServ leased 42,426 in Granite Tower in a deal brokered by Stev e Thelen of TheStaubach Co. and Trey Smityh and Robert Powell of CAPSTAR Commercial Real Estate who representedthe landlord. • Leprechaun LLC leases 39,126 square feet at Two City Placde inFort Worth.
Chris Wrightg and Tim Terrell of Stream Realty Groupp negotiated the deal on behalf ofthe landlord. • American Medicakl Response leased 39,100 square feet at Commercial Park in Arlingtob in a deal brokererd by George Curry with landlord WeingartenRealtyg Investors. • Vertex Outsourcing LLC leased 37,346 squarer feet at Richardson Commons. Susan Arledge of Arledge Partners Real Estatse Grouprepresented Vertex, and Rodney Helm and Johnnyg Johnson of CAPSTAR Commercial Real Estate Servicesd represented the landlord. • Washingtonn Mutual Bank leased 33,646 square feet of spaces at Mockingbird/Cedar Springs.
Jason Moser and David Duwe of Streamj Realty Group represented the landlord inthe transaction. Responsive Education Solutions signed a deal tolease 33,0823 square feet from Corporate tech Centee in Lewisville. Tim Terrell of Stream Realty Group represented the landlorfd inthe deal. • Josh White and Bo Bond brokerexthe 31,402 lease of the Blair Road Building by Southwestr Transplant Alliance. • Navarro or North TX HIDTA, signed a leases for 31,747 square feet of space from FreeporfTech Center. The landlord was represente d by Blake Kendrick of StreamRealty Group. • Merrill Pierce & Smith Inc. leased 30,13 square feet of offic space at5910 N.
Central Expressway in Dallas from Premiefr Placeof Dallas. Dennis Barnes and Clay Gilbertg of CB Richard Ellis represented the landlord duringthe transaction, while the tenanft was represented by Stevew McCoy with Transwestern Commercial Services.

NTS buys Plainview Apartments - Charlotte Business Journal:

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Financing for the which was made through anNTS affiliate, , was providexd by the , according to a news The purchase price was not The previous owner was Plainview Apartments LP, a Denver-basecd investment partnership, according to online records from the Jeffersohn County Property Valuation Administratotr and the Kentucky Secretary of Its assessed value for tax purposes is $9.7 according to the PVA Web Occupancy at the time of the purchase was abourt 94 percent, the release NTS plans to enhance and renovate the property but no detailzs were disclosed in the release.
The apartment complex was developed as part of the Plainviewplanned community, which includes 800 single-family homes, more than 1,000 apartments, 500 town multiple shopping centers and nearly 2 million square feet of officew space. NTS began construction and developmenr of theplanned Louisville’s first, in the early 1970s. With the acquisition, NTS Developmen t Co. and its affiliates now own four apartment communitiewin Louisville. Its other holdings in the area are HurstbourneGrand Apartments, The Overlook at St. Thomazs and The Willows of Plainview.
NTS also manages 14 otherr apartment communities and 31 commercial properties with more than 5 milliob feetof office, retail and warehouse space in the Southeast.

HOK, Kwame, Parsons jockey for stimulus work - St. Louis Business Journal:

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Kevin Ferguson, vice president of St. Louis-basedx , said his company stands to gain from the stimulus plan as transportation departments look tohire owners’ representatives to managed an influx of new construction “In a lot of they’ll bring in outside consultants,” Ferguso said. Kwame fluctuates between 30 and 50 employeess and will be bidding on projects relatinyto transportation, energy, health care, education and aviation. Fergusonn said Kwame anticipates hiringproject managers, inspectors, construction managers and engineersw as it takes on work tied to the stimulua plan.
“About a third of my time right now is devote d strictly to stimulus research and what ourstrategg is,” Ferguson said. Nevertheless, he thinkxs the impact to local constructionbcompanies won’t be felt for severall months. “The lists of projectxs are there,” he said. “The biggest challenge now is for each stat to determine what theirpriorities are.” Mike vice president at and leader of the engineering firm’d St. Louis office, hopez infrastructure work prompted by the stimulus bill will allowe his office to take on a locap focusonce again.
Wild said the firm has been importint work from other regions intothe 75-employee officwe to keep his staff busy. “We’ve been in a fairly slow marketplacrin St. Louis in the last couplre years,” Wild said. “We are looking forward to some project s coming in from the county and the To help its clients and employees nationwide understand the stimulus package and the opportunities it PB has set up aWeb www.pbstimulus.com, to disseminate information abou t the bill. The company also hosted online seminarss in the past couple of weekas to provide information aboutthe stimulus, and more such eventa are planned. Rebecca Nolan, the new managing principap of ’s St.
Louis office, said the firm has spentt the last six weekz responding to requests for proposals and requesyt for qualifications from clients looking for stimulus particularly inhigher education, justicwe and aviation projects. Nolan said the firm standx to benefit from clients seeking architecturapl expertise insustainable design. “Clients are askinf us to initiate conceptual designs so they are as readuy as possible to engage the construction industry when they getthe funding,” she A difference Nolan has seen in recenty weeks is a demand for an acceleration of the schematic desig process.
“We were asked to do a schematidc design in 10 days that normallgy wouldtake 10-12 weeks,” she

Credit unions

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Overall asset, loan and deposit numberxs for Bexar County credit unions all increased in compared with theprior year, according to figures gatheredr by the (NCUA). Despite that good news, local credit unions’ profits, in aggregate, declined by 58.4 percent over the period — from $105.3 million in 2007 to $43.8 million in 2008. The news was the same at both the statde andnational levels, with crediyt unions posting, in increases in assets, loans and Yet, overall numbers show that profits declined nationally by 47.5 percent and in Texas by 61.1 percent betweehn 2007 and 2008.
Less than half of the 29 area crediyt unions included in the report for Bexatr Countyrecorded year-over-year losses in net the remainder reported either increases or decreases in net income but, they were profitable. Rick Grady, spokesman for the Texa s Credit Union League says that 2008 was an extremely challengingg economic year forall businesses. Contributing factoras this past year included a downturn in theinvestmentsx market, the stock market, and the real estate There was also a decrease in loan demand, an upturn in and a downturn in the entire U.S. and worlfd economy. “These factors continue into 2009and will, quited possibly, continue into 2010.
The importanyt point is, the vast majorityu of credit unions ended 2008 with a positivw netincome …” Grady says, addingg that the decline in profitsz had little to do with actuakl performance. Of the credit unions included in the NCUA 10 ofthem — including Valero FCU — posted year-over-year decreases in net Eleven credit unions posted year-over-year losses in net income, includint Security Service and HEB FCUs. John spokesman for SSFCU, says the main reason for the net lossexs is the required assessment by the NCUA from each of the credig unions to bring the insurance fund back up to thelevep “it’s supposed to be.
” The credit uniom insurance fund, Worthington says, took a loss when two corporater credit unions — U.S. Central Credit Unionn and Western Corporate Federal CreditUnion — failed and had to be take into conservatorship by the NCUA. “U.S. Centralk had some major problems because of what it hadinvested in, whicuh were mortgage-backed securities,” Worthington says. “To make up for the shortfall, whic h was billions of dollars, the NCUA required the assessmenf to rebuild the insurance He says other credit unions inBexatr County, which had the option of booking the assessmeng during the fourth quartet of 2008 or the first quarter of 2009, were also affectexd by this assessment.
Without the NCUA expense, HEB FCU CEO Lynn says her credit union would have postedf a net income or profitof .63 percent. C. Sean Murphy, presiden and CEO of Valerio FederalCredit Union, agrees, adding that his credigt union was required to book an $804,000 adjustment due to the NCUA He says, the credit union decided to take the whole assessmeny in 2008 “and be done with it.” Worthington says the temporaru Corporate Credit Union Stabilization Fund part of the Helping Families Save Theitr Homes Act — recently passed muster in the House and the Senatre and is awaiting signature from the president.
The bill will allowq credit unions to stretch out the payment for this assessment over the nexteighty years. At the same it calls for credit unions to replenish the insurance fund over the next sevenn years and extends insurance coverage of accounts upto $250,000o through 2013. Aside from the NCUA credit unions say other recession factors affected theifrbottom line. Overall, from fiscal year 2007 to one credit union recorded a decreasein assets; sevem reported declines in thei loan portfolio, and two credit union s reported a decline in deposits.
In one credit union, Express-News FCU, reported declines in both asseta and deposits for the time A total of six credit unione recorded a decline between 2007 and 2008 in profitas as wellas assets, depositsz and loans. These include: • Peoples Choice of • St. Joseph’se Credit Union;

AIG, Prisa, Stillwater Mining, US Steel: US Equity Preview - Bloomberg

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AIG, Prisa, Stillwater Mining, US Steel: US Equity Preview Bloomberg Stillwater Mining Co. (SWC) : The company may rise as demand for palladium grows as a cheaper, lighter alternative to platinum, Barron's reported in its “The Trader” column. US Steel Corp. (X US): The steelmaker may gain as much as 65 percent during ... and more »

Scotts expansion in the works - Atlanta Business Chronicle:

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A resolution is moving through Marysville City Councipl that would provide fora 10-year, 75 percenyt property tax abatement valued at about $1 million for Scotts, one of Centrall Ohio’s 50 largest employers and amony its 10 largest public Scotts is looking to mounft a $23 million project to builcd a 40,000-square-foot manufacturing facility that will retaibn 15 jobs and create 33 full-time and 39 part-time Marysville Administrator Jillian Froment said. The new plant wouldx process coir, the outer husk of coconuts that’s used in EZ Seed products. “(The product) has seen succesx and they can’t keep it on shelves,” she said.
The proposed new manufacturinbg jobs, Froment said, would generate an annua l payroll ofabout $3 million in the city, home to more than 1,00o Scotts employees. Scotts also has committed to find permaneng space for 150 employees it has temporarilu housed in portable school buildings at its Froment said. That will mean a new 20,000-square-foof facility, cost details for which weren’t available. “Thias is ensuring 150 jobs remain in Marysville insteae of another CentralOhio community,” Froment A Scotts representative wasn’t immediately available for comment Friday afternoon.
Counci l cleared a first read of the proposed incentived and could finalize the proposal as early asJuly 23, Froment said. A public hearing on the company’se plans is set for July 9. Scottss (NYSE:SMG) in the year ended 30, 2008, lost $10.9 milliobn on $2.98 billion in revenue. The compang has about 6,400 full-time workers worldwide.

Leadership important during economic downturn - San Francisco Business Times:

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“High-quality leaders are what we need most to get throughu thesedifficult times,” said JoAnne Brandes, one of the prograj leaders and creators of the recently launched at Brandes is a retired executivse from The center’s other program leader is Debrza Lake, who also formerly workecd for the Johnson family The center was introduced to the community at a breakfast at Carrolkl in June. Some programs have already been piloted, and the centerf is seeking participants fora 60-hour Leadershilp in Action comprehensive program. Brandes points to lack of leadershil as one of the causes of the currentteconomic recession.
“I think part of it’s been created by not havinhg strong enough leadership all overthe place,” she said. Leadersw have looked to the short term rather than long andleadership hasn’t been as ethical as it shouls be, she said. “I think that almost anybodhy can lead when timesare great,” she But during tough economic it becomes clear that “we need people who can be inspirationa and motivational, who can look to the longerf term, who can drive innovation, who can get the most out of she said. The center seeks to provide the comprehensive types of leadership programs that companiews might have only found out of state and at ahighe cost, Brandes said.
The programs will be different because they can be customizeed to meet the needs ofindividuaol businesses. Another important element is ongoing coachinfg that will be included in the programs and continuingy networksof leaders, she The classes will be taught by highly experiencerd businesspeople, Brandes said. “The people who are runnint this not only understand organizationaldevelopmentt tools, but they’ve lived it and they’ve breathedr it,” she said. The center’s capstoned program will be the 60-hour Leadership in Action The center is recruiting its firstg class of 20 to 25 participants for the sessiom that beginsin August.
It’w designed for mid- to senior-leveo managers and will includer intensive personalized training with experienced executivesand coaches, accordingh to a program description. Participants will meet everhy Monday for six or seven weekas with either their executive coach orlearninh circle. The program includes intensiveself assessments, including feedbackj from co-workers in addition to lectures, case studies and smalll groups. Participants will then become part of a network that will be broughr backfor programs, and the coachinfg will continue. The cost is Brandes said.
Other shorter programs include effective communications and conflict personal development and career planning and essentials of Feeswill vary, but would typically be about $300 to $500 for a three-daty program, depending on materials, Brandes The center hopes to offert scholarships for leaders of Debra Crawford, a leadership and executive coach and ownerr of LLC in Brookfield, observed some of the center’s first sessions earlier this summer. Executive coaching is one of the program’sx unique dimensions, she said. She also like the center’s focus on ethics-based leadership.
Many governmeny and business leaders have moved away from anethicakl core, she said, and that makew the center’s programs timely. She believez that in the future people will be more concerner about how businesses attain their resultes rather than just the results Crawford hopes to be one of the executive coachesx the center uses in its programs and said she also will recommenddthe center’s programs to corporate clients. Bill Mitchell, executivew director of the , also believed the center’s timing is good.
In remarka he made at the introductory breakfast, Mitchell said availabilityu of strong talent in the area will be a key factot in business retention and recruitmentf as companies come out ofthe recession. Partnerships between the business community and educational institutions like Carroll are an important part of developin g thattalent pool, Mitchell said.

Metrolist: Denver's resale housing market showing hopeful signs - The Business Journal of the Greater Triad Area:

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Single-family home sales in for example, were equalluy split between the lower price ranges that appealto first-tim e homebuyers and pricier houses that attracft homebuyers moving up to larger and/or more expensivs homes. "Earlier this the majority of resaler home activitywas first-time distressed properties and investor activity," independent Littleton broker Gary Baue r said in a statement. "June appearas to be the transition to a normal Denvermarket -- a marketf with both first-time homebuyer activity as well as 'move-up' activity." Resale homes are those that have sold at leasf once before. Combined sales of single-family houses and condominiumsincreaser 15.
4 percent to 4,18t in June from 3,628 in May. Late sprinbg and summer traditionally arethis country'x prime home-selling season, because familiex buying and selling homes try to completew deals and move when children are out of But June home sales this year were down 13.6 percentg from 4,845 for the same month of 2008. In 3,328 single-family homes were sold, up from 2,857 saleds in May, but down from 3,847 for the year-prior Last month, condo sales rose to 858 from 771 in but were down from 998 year over Average sold price for both types of homerose 6.34 percenrt to $258,434 in June from $243,0223 in May. That price was down 3.
21 percenf from June 2008's average selling price of Average sold pricefor single-familty homes -- $283,312, which is up from $262,0665 in May, but down from $286,8867 from the year-prior June. Median sold price for single-family homeas -- $237,500, up from both the previous monthj ($220,000) and from June 2008 ($230,000). The median sold prics for a home is the middle pricwe between highestand lowest. It's considered a truer measure of price than averag by many real estate professionalsabecause it's not skewed by highesy and lowest prices.
Average sold price for condos -- down from $172,454 in May and $190,367 year over Median sold price forcondos -- up from $137,000 in May, but a drop from $148,344 for the year-prior June. Condos also are sellingh faster lately, with an average of 97 days on the markeytin June, down from 110 days in May and from 108 days year over For this year's first six months, total home sales and sold pricea were down from the same period of 2008, accordint to Metrolist. Combined sales of single-family homes and condos decreasede 17.5 percent to 19,363 from 23,471 for the firsf six months oflast year. Average sellintg price was down nearly 8 percentto $235,93o0 from $256,408.
Average days on the market for both housing types dipped to 104through June, from 106 for the same periof of 2008. Other year-to-date data through compared to the same perioeof 2008, include: Single-familyy homes sold -- down from 18,561. Average single-familyh home sold price -- $256,353, down from Median single-family home sold price -- $211,000, down from $224,900. Condods sold -- 3,931, down from 4,910. Average sold price for condos -- down from $176,426.
Median sold price for condos -- $129,000, down from Based in Greenwood Village, Metrolist is metrk Denver's Multiple Listing Service, which is an association of real estates brokers that share property listings witheach