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ODU Hosting Hampton Roads Residential Market Review and Real Estate Research Symposium

Michael Seiler, Old Dominion University's Robert M. Stanton Endowed Chair of Real Estate and Economic Development, and a worldwide expert in the issue of strategic mortgage default, will give the keynote address at the second annual Hampton Roads Residential Market Review and Real Estate Research Symposium on Wednesday, Nov. 14.

Hosted by ODU's E.V. Williams Center for Real Estate and Economic Development (CREED), the program will bring together experts in economics and real estate to discuss society and industry trends affecting the local market.

Seiler, director of the Institute for Behavioral and Experimental Real Estate at ODU, is known across the country for his research into the behaviors of homeowners in a challenging real estate market. His address at the CREED event, scheduled from 1-5 p.m. at the university's Ted Constant Convocation Center, is titled "The Impact of Furnishings and Wall Color on Residential Real Estate Development."

It builds on the research pioneered at IBERE, which analyzes how psychological factors affect real estate decisions on an individual level, and market-wide. Seiler will be joined by Mark Lane, associate professor of finance with IBERE and ODU's College of Business and Public Administration.

CREED launched the Residential Market Review in 2011 to accompany its annual Hampton Roads Real Estate Market Review, held every March for the past 17 years.

John Lombard, CREED director and an ODU professor, said the residential market review is designed to bring together public, private and academic experts to examine current issues and trends in residential real estate.

"We held this event last year, and it was very successful. By creating an event solely focused on residential real estate, CREED wants to help foster the dialogue that is ongoing about the residential real estate issues faced by our community," Lombard said. "Having researchers like Dr. Seiler, along with our other, diverse presenters, we hope to help consumers and industry professionals alike gain insight and understanding about important issues like bankruptcy and future market trends."

The theme of the Residential Market Review and Real Estate Research Symposium is "Exploring Opportunities and Challenges for the Region's Housing Market." As the local housing market recovers, slowly, experts from industry and academia will provide insight about economic trends, new home sales and construction, and multifamily property development and investment.

Other presenters at the Review include:

Michael Fratantoni, vice president of single-family research and policy development for the Mortgage Bankers Association, presenting a national housing and mortgage market outlook;

Dwight Dunton, president and founder of Bonaventure Realty Group, LLC, speaking about multifamily property development and investment;

J. Van Rose, president of Rose & Womble Realty, presenting on new home sales and construction in the Hampton Roads market; and

Professors Vinod Agarwal and Gary Wagner, of the Old Dominion University Economic Forecasting Project. Agarwal will speak on the Housing Price Index for Hampton Roads. Wagner will talk about trends in the residential housing market for existing homes.

For more information about the Residential Market Review and Real Estate Research Symposium, visit the CREED website at http://ww2.bpa.odu.edu/creed/#.

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