Property Recycling Share Discussion Threads

[9461dick] 04/6/2007 14:18

I think there is some good news coming. Quite a few medium size buys also Rackham Family Trust added.

[spaceparallax] 18/4/2007 15:28

We seem to have some significant institutional acquisition presently. I wonder why??

[spaceparallax] 11/4/2007 14:53

No idea - perhaps we're suffering from news drought?

[nig295] 11/4/2007 14:13

What the hell happened?

[spaceparallax] 04/4/2007 11:45

On the drift for some reason.

[energyi] 03/4/2007 04:10

ANYONE HERE watching Michigan, USA for a turnaround??

Michigan was the worst performing state during the quarter. Prices fell 0.72 percent.
Other losers include Massachusetts (down 0.44 percent ) and Maine (down 0.20 percent). The number one gainer among metro areas was Bend, Oregon, where the median price rose 7.37 percent for the quarter and 36.65 percent in the past 12 months. The biggest fall was endured by Columbus, Indiana, where prices declined 3.55 percent for the quarter.

Ann Arbor, Michigan prices fell 1.28 percent for the year, the most of any metro area.

...more:

- - -

look at these Ratios to Income !

MICHIGAN BENCHMARKS... - as of June.2006 // per Money Magaziine

City.===========. Population : Hse.Price : Income : Multiple : '05/'04 :
Ann Arbor........... 113,300 : $230,000 : $ 77,669 : -- 2.96- : + 0.80% :
Farmington Hills..... 80,200 : $245,000 : $ 97,726 : -- 2.51- : + 1.40% :
West Bloomfield...... 65,000 : $281,650 : $115.676 : -- 2.43- : + 3.40% :
Detroit............. 913,577 : $ 69,900 : $ 37,805 : -- 1.85- : - 1.50% :
Flint............... 122,789 : $ 59,000 : $ 33,980 : -- 1.74- : - 6.30% :
Grand Rapids........ 201,835 : $114,000 : $ 49,677 : -- 2.29- : - 1.80% :
Lansing............. 118,716 : $116,000 : $ 45,756 : -- 2.54- : - 6.80% :
Rochester Hills...... 69,701 : $256,000 : $ 99.907 : -- 2.56- : - 1.10% :
====================
Eight City Average.. 210,640 : $171,443 : $69,775 : -- 2.46- : - 1.xxx : Eur.xxx,xxx
National Average.,,. xxx,xxx : $227,500 : $xx,xxx :
As % National Average....... : . 75.36%
Compare:
Salt Lake City, Utah. 180,377: $199,500 : $49,845 : -- 4.00- : +13.70%:
Denver, Colorado..... 557,766: $225,000 : $51,492 : -- 4.37- : + 7.10%
Las Vegas, Nevada.... 560,775: $260,000 : $59,195 : -- 4.39- : +11.2%
Cambridge, Mass...... 102,740: $447,525 : $65,511 : -- 6.83- : + 2.90%
Clearwater, Florida.. 112,033: $180,900 : $51,474 : -- 3.51- : +18.60%
Miami, Florida....... 378,914: $387,800 : $30,058 : - 12.61- : +21.60%
SanFrancisco, Cal..,. 734,587: $755,000 : $70,772 : - 10.67- : +14.0%


It is obvious from the comparative figures, that Michigan never experienced the wild boom that hit the Real Estate markets in places like: San Francisco, Miami, and Cambridge. The Median propert price to Income is less than half what it is in those apparent "bubble markets".


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[9461dick] 12/3/2007 11:01

I would say the price has drifted upwards on small trading volumes rather than there being some news in the offing. I hope I'm wrong though!

[spaceparallax] 09/3/2007 16:39

I would appear that someone knows something over and above the results.

[spaceparallax] 06/3/2007 11:19

To the uninitiated, the results appear to present a dramatic downturn in fortunes. In reality, that's just the nature of the business type and things can change as assetts under development/remediation are realised.

At current SP, the divi is providing approx 2%.

I wouldn't be surprised to see the share price drop to around the 50p level as some PIs pull-out. I intend to sit tight for now.

[spaceparallax] 01/3/2007 09:07

Interesting to see next Tues results.

[spaceparallax] 14/2/2007 11:26

Gavis,

You're certainly right about the 'lumpiness', although presumably this is an open secret that has good and bad points.

I'm just pleased to hear something.

[gavis] 14/2/2007 11:03

>>spaceparallax

Not sure that the results will excite the market. It's the announcements of deals (acquisitions/disposals etc) in between times that really matter.

The problem with this is the lumpiness of the results. I think once we get some more info on the Ikea land this may move the shares and wake up the market to their real value.

I am sure we will not go lower than the recent lows.

[spaceparallax] 14/2/2007 09:50

SP looking buoyant now - just over 2 weeks until the 5 March results

[spaceparallax] 12/2/2007 09:22

At last our patience has been rewarded.

[spaceparallax] 08/2/2007 15:42

EM,

I file this in my 'property and construction sector' but in fact I see it as a rather special niche element, not dissimilar to Alkane within my energy sector i.e. Alkane do a really worthwhile clean-up job that uses the collected nasties (methane) to then provide a valuable local power source.

A sort of double producer.

[emajor] 06/2/2007 18:40

I think I will hang on - financials look OK and one good deal should transform the company and give it the capital to scale up. I like the management and I think they're in it for the long term which makes the share a hold for good divident growth. I'm not delirious about the property market at the moment though. The housing market looks ludicrously overvalued to me. Lenders are offering 5X income. In this neck of the woods a salary of £15k is very good, but the cheapest house is about £130k and will need another £10k to do up. That situation can't last. (I've been saying that for years though).

[9461dick] 06/2/2007 13:58

I would wait - results are due in a few weeks time. They still have plenty of cash, but seem to be unable to clinch a deal for significant new property. I don't think they will overpay, so I believe the delay is a good sign. The results should show that they are making a small profit on ongoing operations. The best news we can hope for is that Ikea go ahead with their option to purchase the Stanton site for the already planning approved, distribution warehouse. No news is good news?

[spaceparallax] 06/2/2007 12:04

Nothing to tell - but recommend that you not be too hasty.

[emajor] 05/2/2007 19:01

Anybody heard anything? PROP looks dead in the water. I'm just about to sell and go elsewhere, I'm down 24%. ORI, LAM, WNG, ITW and MWE are on my watch list.

[sprattyken] 25/1/2007 15:59

Me too.
I don't think anyone is really working on or for PROP on a full time basis. Every now and again news will give rise to a flurry of activity.
I just hope the economy keeps going.

[spaceparallax] 25/1/2007 15:43

I'm glad that's cleared up. I was beginning to think that you were talking about PROP using Murphy's Tumbleweed to resolve a bindweed problem!

Seriously though, we mustn't lose sight of the fact that PROP is a strange share, with very odd and unpredictable workload. I'm happy to sit tight, but would just like to know more.

[sprattyken] 25/1/2007 14:31

sorry, but this is like those westerns when the lone gunman rides into the deserted town and tumbleweed blows down Main Street........no life whatsoever...

[spaceparallax] 25/1/2007 13:57

Ken,

Sorry to be slow, but what about Tumbleweed?

[sprattyken] 25/1/2007 12:47

tumbleweed