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Friday, November 30, 2018

Mobile Home Residents Are Trying to Save Affordable Housing | Time

Mobile Home Residents Are Trying to Save Affordable Housing | Time: Maribeth Sheedy got a letter from her new landlord the day after Christmas last year. So did many of her neighbors at Akron Mobile Home Park in Akron, New York, a rural village 25 miles northeast of Buffalo. The park’s new owner, Florida-based Sunrise Capital Investors, was proposing a rent increase of more than 40 percent starting in the spring. Anyone who couldn’t pay $425 per month would be evicted.

“We all scratched our heads,” Sheedy, 45, recalled on a steamy afternoon in September. The mother of two sat in a folding chair in the garage attached to her double-wide manufactured, or mobile, home shushing her 12-year-old Pomeranian

Thursday, November 29, 2018

Convexity Properties luxury student complex open to blockchain - Business Insider

Convexity Properties luxury student complex open to blockchain - Business Insider: A luxury student complex in the US will soon see its value moved onto a blockchain, reports Fortune. Investors in the US will be able to purchase a piece of the complex, owned by Convexity Properties, in the form of blockchain tokens. The redistribution of the value of an asset this way is called tokenization.

Wednesday, November 28, 2018

Investing 101: 10 Essential Tips For New Real Estate Investors

Investing 101: 10 Essential Tips For New Real Estate Investors: After all, it’s one of the largest and most regulated sectors of the U.S. economy, accounting for approximately $30 trillion. As with most things in life, however, once you get over the initial hurdle of getting started, opportunities begin to present themselves and everything becomes clearer with time.

What I've learned over my career may help you in your real estate investment journey and hopefully provide the impetus new investors need to take the first exciting step.

Monday, November 26, 2018

To Build Better Customer Relationships, Look At Real Estate Like Dating

To Build Better Customer Relationships, Look At Real Estate Like Dating: You wouldn’t propose immediately upon matching with someone on a dating site or bring up possible kids’ names on a first date, would you? Of course not — expecting that kind of commitment (or even the mere consideration of it) would be silly. You’d scare that potential love interest away in seconds.

Sunday, November 25, 2018

Denver Lakehouse project using virtual reality to sell real estate

Denver Lakehouse project using virtual reality to sell real estate: Picture this: You’re interested in buying a new condo but the building is still being built. The drywall isn’t even hung yet. Before you sign on the dotted line and commit to a major investment, you want to see more. What will the countertops look like? How’s the view?

Forget two-dimensional renderings and floor plans. Just pick up a tablet or strap on a pair of virtual reality goggles and get a complete 3-D look around the condo that could be yours. Switch between floor plans and finishes to get a sense of what you’re getting down to the digital inch.

That process is playing out every week in the sales office for the forthcoming Lakehouse condo building at 4202 W. 17th Ave. in Denver.

Saturday, November 24, 2018

In an uncertain real-estate market, try before you buy | The Seattle Times

In an uncertain real-estate market, try before you buy | The Seattle Times: Not too long after Tom Porth sold his business this year, he went to Colorado for a ski vacation. He had worked in different capacities for the Village Inn restaurant chain for four decades, ultimately owning nine restaurants, and he was eager for retirement.

Friday, November 23, 2018

Six Ways The Real Estate Industry May Change In The Next Few Years

Six Ways The Real Estate Industry May Change In The Next Few Years: The real estate industry is one market that is embracing technology at a steady pace, and buyers and sellers are starting to reap some of the rewards of these changes. Streamlined processes can, for instance, allow people to buy a property without having to be physically there to do so, or tap into larger amounts of valuable — and understandable — data, something that can help buyers find and track properties they're interested in, or help agents best reach their clients.

Thursday, November 22, 2018

Long Island City Real Estate Booms with Amazon HQ2 Plan | Fortune

Long Island City Real Estate Booms with Amazon HQ2 Plan | Fortune: Though Amazon said it won’t begin hiring for its newly announced office in Queens, N.Y. until 2019, condo sales in the neighborhood are already booming.

For example, one Long Island City brokerage firm said it sold 150 units in just four days, The Wall Street Journal reports.

It’s only been a week since Amazon revealed plans for the New York office and another in Arlington, Va. The two cities offered the company billions of dollars in tax incentives in an effort to get the high-paying jobs that come with the Amazon expansions.

Wednesday, November 21, 2018

US home construction rose 1.5 per cent in October - SooToday.com

US home construction rose 1.5 per cent in October - SooToday.com: U.S. home construction improved a slight 1.5 per cent in October, but in a troubling sign, ground breakings for single-family houses fell.

Sunday, November 18, 2018

Five Reasons Why Your Real Estate Investments Aren't Earning You Money

Five Reasons Why Your Real Estate Investments Aren't Earning You Money: I recently spoke with an investor who told me that he has $500,000 in cash and is looking for the right investment property to acquire. As usual, I asked my standard set of questions: What are your goals, time horizon, risk tolerance and experience level? His responses were stable cash flow with some potential for appreciation, long-term time horizon of 5 to 10 years, not tolerant of high-risk investments and his real estate experience was limited to the purchase of his single-family residence. These are fairly common answers for new investors who are looking to steadily grow their wealth. So far, so good.

Saturday, November 17, 2018

Why so many property listings advertised as ‘bargains’ sell above the asking price - MarketWatch

Why so many property listings advertised as ‘bargains’ sell above the asking price - MarketWatch: In Tuscon, Ariz., when a home listing is described as a “bargain,” that’s a pretty clear indication that the price is in fact a steal. But in Cape Coral, Fla. that’s far from the case.

A new report from real-estate website Trulia examined how often listings advertised as a bargain were, indeed, bargains. The analysis had some good news for people in one of the country’s most competitive housing markets: Homebuyers had the best shot of finding truthful listings in San Jose, Calif.

In the Silicon Valley city, more than 86% of “bargain” listings were actually priced below the home’s estimated value. Other cities with popular housing markets, such as San Francisco and Seattle, also had a high percentage of true bargains.

Friday, November 16, 2018

Real Estate Technology: Try, Try Again - The New York Times

Real Estate Technology: Try, Try Again - The New York Times: Perhaps the most prescient scene in the futuristic 1960s cartoon “The Jetsons” was when George, the eager technophile, had to run as fast as he could to stay on a newfangled treadmill gone haywire.

It’s an apt metaphor for some technology today, particularly in the real estate industry, which is quick to jump on the newest disruptive innovation, but often ends up with the next Bluetooth-enabled toaster instead.

Thursday, November 15, 2018

Real Estate Markets Cooling Across The Country, And It's Not Just The Winter Effect

Real Estate Markets Cooling Across The Country, And It's Not Just The Winter Effect: In December 2008, almost a decade ago exactly, Case-Shiller posted a record 18% price drop in home values across the country as the subprime mortgage crisis reached fever pitch.

After a slow and painful recession period, economic prosperity pushed the market out of recovery mode and into a full-fledged real estate boom characterized by double-digit price growth, rock-bottom inventory and surging buyer demand over the past few years. It's been the lowest of lows, followed by a glorified golden age for the country's trillion-dollar residential real estate business.

In the wake of these tales of two extremes, it’s hard to remember what a more neutral market even looks like. But a new normal, one that’s neither ice cold nor fiery red, does appear to be taking shape.

Wednesday, November 14, 2018

Home Depot signals U.S. housing demand slowing | Reuters

Home Depot signals U.S. housing demand slowing | Reuters: The warning from the country’s top seller of power tools, flooring and lawnmowers overshadowed its stronger-than-expected third-quarter results and a higher annual sales forecast.

Tuesday, November 13, 2018

Why a Housing Cool-Off May Leave Consumers Unperturbed This Time - Bloomberg

Why a Housing Cool-Off May Leave Consumers Unperturbed This Time - Bloomberg: In a post-financial-crisis world, the phrase "housing market slowdown" has a ring of impending disaster.

But as the $220 trillion global housing market starts to cool off in some places against a backdrop of monetary policy normalization, economists at Eurizon SLJ Capital offer a reason for calm. Because price declines are hitting extremely expensive cities, they might not drag down consumption the way standard theory would predict. We summarize their research below

Monday, November 12, 2018

More Americans are using real estate agents than ever before | 2018-11-12 | HousingWire

More Americans are using real estate agents than ever before | 2018-11-12 | HousingWire: A new Harris Insights housing consumer study, which was underwritten by the California Association of Realtors, The CE Shop and REAL Trends, shows a full 90% of consumers use real estate agents to buy and sell their homes. This is a survey high, and is up 5 percentage points from the last study in 2014 and up 9 percentage points from the first study conducted in 2001.

And despite fears that Millennials are replacing real estate agents with technology, the study found that is not the case, and 91% of those ages 18 to 34 used real estate agents in their transaction. That number is slightly higher among Gen Xers, or those ages 35 to 44 years old, at 94%.

Sunday, November 11, 2018

Amazon HQ2 rumors rattle New York and DC real estate markets

Amazon HQ2 rumors rattle New York and DC real estate markets: - It hasn't been announced yet. It wouldn't happen for months, if not years after it was announced. But Amazon's possible arrival in Northern Virginia and Queens, New York, has already sent shockwaves through surrounding real estate markets.

Mara Gemond, a longtime Arlington, Virginia, realtor, never did much business in the dingy cluster of office buildings next to Reagan Airport known as Crystal City — until news broke that Amazon might be splitting its 50,000-employee second headquarters between there and Long Island City in New York.

Saturday, November 10, 2018

A Fifth of China's Housing Is Empty. That's 50 Million Homes

A Fifth of China's Housing Is Empty. That's 50 Million Homes: Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country.

Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said.

Friday, November 09, 2018

As U.S. New-Home Sales Tumble, It's Time To Reimagine Modern Modular Housing (Part 1)

As U.S. New-Home Sales Tumble, It's Time To Reimagine Modern Modular Housing (Part 1): As personal wealth increases for some, so does the cost of housing. According to recently released government data, single-family home sales in September tumbled 5.5 percent month-over-month, an estimated 0.6 percent drop, falling to their weakest pace since December 2016. The drop is attributed to increasing constraint on buyers due to rising property prices, higher mortgage rates and, most significantly, the dearth of affordable listings.

Thursday, November 08, 2018

Foreign Investor Burnout Hits Miami Real Estate

Foreign Investor Burnout Hits Miami Real Estate: Foreign home buyers have hit the pause button in south Florida.

Between August 2017 and July 2018, the most recent period for sales data by Florida Realtors, foreign buyers purchased $22.9 billion worth of Florida real estate, a 5% decline from the previous 12-month level.

Wednesday, November 07, 2018

One home got 14 offers. Another, none. What’s up with Sacramento’s real estate market? | The Sacramento Bee

One home got 14 offers. Another, none. What’s up with Sacramento’s real estate market? | The Sacramento Bee: A spacious Rocklin home sits on the market for weeks with no offers. At the same time, a tiny bungalow in South Land Park gets 14 offers immediately.

What gives?

Tuesday, November 06, 2018

Knox real estate outside investors own icons like First Tennessee Plaza

Knox real estate outside investors own icons like First Tennessee Plaza: “Built by Knoxvillians but owned by out of town investors.”

That has been a common trend in commercial real estate in the last decade and the trend is continuing.

Monday, November 05, 2018

Challenging farmland expropriation | Farms.com

Challenging farmland expropriation | Farms.com: A recent expropriation scenario involving the McCann family of Milton, Ont. rekindled interest in the ag and legal communities about how to protect farmland.

The seventh-generation McCann family created an online petition in April to halt the Halton Catholic District School Board’s plan to use 20 acres of their land to build a secondary school. The petition garnered over 37,000 signatures within a six-month period. The school board has since decided to use other land for the school.

Farms.com connected with Robert W. Scriven, barrister and solicitor at Oldfield, Greaves, D'Agostino & Scriven, a law firm based in Waterloo which specializes in agricultural law, to learn more about challenging farmland expropriation applications.

Sunday, November 04, 2018

Argentines arrested over South Florida, NYC real estate deals | Miami Herald

Argentines arrested over South Florida, NYC real estate deals | Miami Herald: After arresting four people — including the owner of a Miami-area realty firm — authorities in Argentina appear to have unraveled the mystery of a $65 million property empire that included luxury condos in South Florida and New York City, as they pursue a major corruption case against ex-president Cristina Fern├índez de Kirchner.

The four people arrested by federal police in Argentina last month are Elizabeth Ortiz Municoy, an Argentine national who runs an international realty business that until recently operated a branch in Surfside; Sergio Todisco, Municoy’s ex-husband and a clothing manufacturer; Carolina Pochetti, the widow of a former top aide to the Kirchner family; and Carlos Cortez, a businessman who travels between Argentina and South Florida.

Saturday, November 03, 2018

Five Lessons From Jeff Bezos For Real Estate Leaders

Five Lessons From Jeff Bezos For Real Estate Leaders: As the head of an independent real estate brokerage, I know that it’s all too easy to get swept up in the headlines about which firm is doing what and which technology is coming online to simplify this and that. And regardless of how far the real estate industry has come, and for all the bells and whistles we tout, at the end of the day real estate is a service industry: The primary focus needs to be on the customer, not the competition.