Thursday, July 23, 2009
Summer Internships and Placements The Real Estate Center has seen many students place in intern and full time positions this summer. While job prospects have been less than usual, students have found full time employment with companies such as PWC, CBRE Boston, The Hartford, ARBOR Commercial Mortgage and others. Interns have been placed at a higher rate with companies such as Connecticut Economic Resource Center, Sakon Development, State Farm Insurance, Real Estate Investment, Brown Advisory, Prudential, PCP Real Estate Management, UBS NYC, NE Utilities and Department of Consumer Protection. A number of students have been working at the Center for Real Estate and Urban Economic Studies. Drew Magiera, Mark Gaudette and Michael Hovey have spent the greater part of the summer gathering research data and assisting with general duties. We are pleased for all our students that have been placed and appreciate the companies that were able to take them on. Recent Research Attracts National Attention Foreclosure Contagion Home foreclosures are devastating to the families directly involved and also have negative ripple effects that spread throughout the community. Measuring and understanding these negative externalities is an important part of developing good public policy to address the foreclosure crisis. A recent research paper written by John Harding of the Center for Real Estate at the University of Connecticut and Eric Rosenblatt and Vincent Yao of Fannie Mae contributes to the debate by quantifying the contagion effect and estimating the range of its influence. Be sure to check out NY Times link to view the entire New York Times article. Click here to view a speech by Governor Elizabeth Duke (Federal Reserve) which also refers to the Dr. Harding's work. House Price Indices July 8, 2009 Connecticut Real Estate Markets Update: Declines Holding at about 10% in Connecticut's Housing Markets Second Quarter, 2009 Center for Real Estate and Urban Economics Studies University of Connecticut Connecticut's single family housing markets declined throughout the state during the second quarter of 2009. In the middle of the market, preliminary numbers indicate that prices went down by 10% year-over-year, compared to a 12% rate of decline in the first quarter. The total decline since the peak in 2006Q1 is 18%. On an inflation adjusted basis Connecticut house prices are down about 25% since their peak. The data suggest that the number of transactions have room to grow by 15% in order to return to a more normal range. Click here to view full article regarding Connecticut's housing markets. 5th Annual Golf Tournament - Now More Affordable! The 2009 Real Estate Center Council (RECC) Golf Tournament is scheduled for Tuesday, September 29, 2009 at Andy Tedford's Oxford Greens Country Club in Oxford, CT. Registration begins at 9:30 a.m. Tee time starts at 1:00p.m. Reception will run between 5:30 p.m.-6:00 p.m. The day's events will conclude with dinner and tournament prizes. We look forward to the tournament as it provides a great day of fun for all who participate and an excellent opportunity for Real Estate MBA students to network with industry partners. New participation fees: Sponsorships range from $2,000 - $100.00 (see registration form for details) Foursome - $500.00 Single Player - $125.00 ( 1 player to join a team) For registration form Click here Fall 2009 Calendar Listed below are the Fall 2009 events and activities. For more information on any of the scheduled events, please contact Debbie at 860 486-3227 or email: Debbie Philips. 1. Real Estate Instructors' Seminar- September 18, 2009 to be held at the Hawthorne Inn, Berlin, CT. 2. NYC Fieldtrip/Alumni Reception- Wednesday, September 23, 2009. Bus will leave Storrs around 7:30am and return 11:00pm. Company details to follow. A reception is being planned for the end of day with students, NYC alumni and friends to be hosted by RECC. The location of reception is to be determined. We expect 50-75 NYC alumni to attend. 3. Golf Tournament- Tuesday, September 29, at Andy Tedford's Oxford Greens Country Club in Oxford, Connecticut. MBA students will be working the event. Approximately 36 (144 players) teams of golfers will be playing. The day begins with registration at 9:30 a.m., lunch on the go and will conclude with a reception/dinner in the evening. 4. "Specialized" MBA Fieldtrip- Stamford/GE Trip, date to be determined, most likely late October or early November. 5. Real Estate Capital Markets Presentation- Co-Sponsored by Real Estate Finance Association, October 16, 2009 date to be determined. This event includes presentations by leading industry representatives. The format will be the following: Catered luncheon to be held at the Downtown Graduate Learning Center at 11:30am followed by the presentation at 12:30, ending at approximately 1:30pm. 6. Alumni Football/Reception Event- October 17, 2009 Homecoming- UConn vs. Louisville Football game/ BBQ at Rentschler Field, East Hartford with pre-game reception 2 hours prior to the start of the game. See Debbie for tickets. We expect 150-200 people to attend. 7. 19th Annual Commercial Real Estate Conference- Wednesday, November 11 at the Farmington Marriott Hotel, 11:45-5:00 pm. Format will be as in the past with lunch at 11:45, 1:00 p.m. keynote Bill Wheaton of MIT followed by the Connecticut economic update and updates on major commercial markets in Connecticut. Students are invited to attend beginning at 1:00 (after lunch). As usual, we expect 250-300 attendees. 8. MBA Student Activities- Breakfast networking events scheduled every other week in FNCE Conference room 463 at 7:30am, September-November 2009. Faculty are invited to use these events to share information with the MBA students on job opportunities, course information, etc. In addition, MBA students will participate in case presentations from outside firms during the semester. Watch for dates. 9. Real Estate Society Events- The Real Estate Society will hold several social/networking events throughout the semester, which includes a networking breakfast scheduled every other week in FNCE Conference room 463 at 7:00 a.m., September-November 2009. Watch the Student Newsletter for updates on these events. The Professional Speakers in Classroom events are currently being scheduled. Watch for these dates and encourage students to attend.
School of Business University of Connecticut 2100 Hillside Road Unit 1041RE Storrs, Ct 06269-1041 Tel: (860) 486-3227 Fax: (860) 486-0349 email: recenter@business.uconn.edu For More information, visit www.business.uconn.edu/realestate	Real Estate Center Links Conference presentations UConn Real Estate Center Council Scholarship and Award Winners Student Activities Summary