Real estate News 08/2014
Doorman finds an opening in city's hot real estate market
Most residents of the Upper East Side building don't know it, but Lacson is moonlighting as a real estate agent — and some of the units he sells are more expensive than the ones in the building he serves. “When I came to this country, I needed stable ... (Jul 31, 2014, New York Daily News)
This Week in Real Estate Inc.: Our visual recap of D.C.'s biggest commercial ...
This Week in Real Estate Inc.: Our visual recap of D.C.'s biggest commercial ... (Aug 1, 2014, Washington Business Journal)
Top 10 Real Estate Investor Mistakes
Many people have learned that investing in real estate is not as easy as it seems. At least that is true for investors trying to get a fair deal. For those of us who have been investing for years, and learned many hard and expensive lessons, here are ... (Aug 1, 2014, Fox Business)
Top of the List: Which residential real estate teams flourished?
Seven new teams made the Business Journal's list of the Highest-Selling St. Louis Real Estate Teams in 2014, and some teams saw sales increases as high as 77 percent. The Gellman Team, with Coldwell Banker Premier Group, ranked No. 1 on The List ... (Aug 1, 2014, St. Louis Business Journal (blog))
Real Estate Agents for Older Adults Are Part Broker, Part Therapist
In New York, that was a real estate trifecta. “I thought I would die there,” said Ms. Lightstone, now 84, who bought the place 30 years ago for $60,000. But after she fell a few times, her three daughters thought it was time for her to relocate to a ... (Aug 1, 2014, New York Times)
Austin hottest real estate market in the US
AUSTIN (KXAN) — New numbers provide further proof, Austin is the hottest real estate market in the country. The capital city is now No. 1 in the country for fast home sales, with 40 percent of homes selling within seven days. The average is 10 ... (Aug 1, 2014, KXAN.com)
Canandaigua Lake real estate market warms up
After a few years of leveled-off sales due to the recession, the lake market is back, real estate agents say. Interest in higher-end waterfront properties is starting to grow. "The market never really left," says Luanne Palme, an agent at Nothnagle ... (Aug 1, 2014, Rochester Democrat and Chronicle)
Real estate transactions
Sherwin-Williams has signed a 10-year, 11,773-square-foot lease at Beltway 8 Service Center at 11275 W. Sam Houston Parkway. Ray Starbuck of Sherwin-Williams Real Estate represented the tenant. Mickey Meyer-Sturgis represented the landlord, The ... (Aug 1, 2014, Houston Chronicle)
4 Years, 10 Months In Prison For Ex-NYPD Sergeant In Real Estate Fraud Scheme
NEW YORK (CBSNewYork/AP) — A former NYPD sergeant has been sentenced to nearly five years in prison for his role in a real estate fraud scheme. U.S. District Judge John Koeltl on Friday sentenced James Monahan to four years and 10 months in prison, ... (Aug 2, 2014, CBS Local)
Real estate notebook: Yamato Village Center in Boca sells for $6.5 million
A family-owned real estate investment firm paid $6.5 million for the Boca Raton retail center anchored by Doris Italian Market. Boca YVC LLC bought the 30,000-square-foot Yamato Village Center at 9101 Lakeridge Blvd. from Dratax Corp. Coldwell Banker's ... (Aug 2, 2014, Sun-Sentinel)
Legal memos trace acrimony between Demoulas factions
Arthur T. Demoulas was fired from Market Basket in June, but the allegations underpinning that fateful decision arose nearly four years ago in legal memos that accused him of real estate transactions that enriched his side of the family at the expense ... (Aug 2, 2014, Boston Globe)
Real Estate's Epic Rebound Starts to Cool
The U.S. real-estate market has stormed back over the past five years after enduring its most brutal period since the Great Depression. The rebound has rewarded investors and boosted the overall economy. The Dow Jones U.S. Real Estate Index, whose ... (Aug 2, 2014, Wall Street Journal)
Single women a force in Nashville real estate market
A recent article in the New York Daily News noted the increase in the number of single women buying homes in New York City, which is easily one of the most expensive real estate markets in the country. If women are buying in New York, certainly they ... (Aug 2, 2014, The Tennessean)
Real estate deeds
John E. Kincaid and Lisa M. Kincaid to Quincy D. and Susana Hughes, 1106 16th St. Court, Silvis, $180,700. Richard J. Connor and Traci A. Smith-Connor to Seth M. and Katja C. Paul, 607 11th Ave., Hampton, $135,000. Todd A. and Souligna Stone to James ... (Aug 2, 2014, Quad City Times)
Crowdfunded real estate: Tips for small investors
Crowdfunding has found real estate. More than a handful of outfits have sprung up to collect small amounts of capital from a large number of individuals to finance their deals. One New York company is even selling stock in a single building in the ... (Aug 3, 2014, Los Angeles Times)
In San Francisco real estate, $1M won't buy much
In the souped-up world of San Francisco real estate, where the median selling price for houses and condominiums last month hit seven figures for the first time, the cool million that would fetch a mansion on a few acres elsewhere will now barely cover ... (Aug 3, 2014, Chicago Daily Herald)
Houston Magazine's August Issue: All About Real Estate
IF YOU ARE LOOKING FOR A HOME OR WANTING TO SELL YOUR HOME, YOU NEED TO PICK UP THIS MONTH'S ISSUE OF HOUSTON MAGAZINE, THAT'S FOR SURE. THE AUGUST ISSUE IS OUT AND IT'S ALL ABOUT REAL ESTATE. JOINING US ... (Aug 3, 2014, KPRC Houston)
Canadian homebuyers buoy local real estate
Real estate agent Mark Dziedzic, left, and his client Doug Farley, of Calgary, look over some features of a kitchen in a condominium for sale as Farley hunts for a piece of investment property Friday, Dec. 7, 2007, in Chandler, Ariz. The housing slump ... (Aug 3, 2014, East Valley Tribune)
Real Estate Oversupply Becoming Bigger Problem For China
If you build it they will come. Eventually. That's been the mantra of Chinese real estate developers and their lenders who have been throwing them buckets filled with yuan for the past several years. Now, an oversupply problem in second and third tier ... (Aug 3, 2014, Forbes)
Real estate transactions
Stanmore Partners, a real estate development and investment firm based in Houston, has broken ground on Ravella at Kingwood Apartment Homes at 25710 Loop 494 at Northpark Drive. The project consists of two- and three-story buildings totaling 264 units ... (Aug 3, 2014, Chron.com)
Hoboken real estate agent named one of top 200 by WSJ
To-do lists paper the walls of real estate agent Jill Biggs' brightly lit office, a constant reminder of her never-ending tasks. Biggs' organization and incredible eye for detail are just a part of her recent rank in real estate; the mother of four was ... (Aug 4, 2014, The Star-Ledger)
How will China handle its real estate bubble?
China's economy has been on a rocky path since the global financial crisis of 2008. Many observers have decried the existence of massive excesses in property investment, warning the country's economy is too reliant on a property bubble that is waiting ... (Aug 4, 2014, Al Jazeera America)
Oakland real estate market awash in cash
Today's overheated Bay Area real estate market is very different for buyers than the real estate bubble of the mid-2000s. “There have been a lot of all-cash deals,” says realtor Martha Hill of Pacific Union, noting that cash appeals to sellers who want ... (Aug 4, 2014, Oakland Local)
Here's a complete database of last month's 1981 real-estate deals (including ...
Here's a complete database of last month's 1981 real-estate deals (including ... (Aug 4, 2014, Business First of Buffalo)
Real estate tech leader
But IDX, a real estate technology company that he founded in 2003 with Jeff Kast and Kin Lane, took root and has grown. Today, the company has 41 employees and 30,000 customers in the United States and Canada. Barczak and Kast are pouring $1 million ... (Aug 4, 2014, The Register-Guard)
ITT Educational Plunges After Real Estate Deal Falls Through
ITT Educational Services Inc., a for-profit college operator, fell as much as 32 percent after a deal to sell and lease back real estate fell through. ITT slid to $9.72 at 11:53 a.m. in New York, and had lost 57 percent this year before today. College ... (Aug 4, 2014, Bloomberg)
Nashville's thrill ride: Our real estate and credit roller coaster
No statement could be simpler than the opening lyrics in Blood Sweat, & Tear's classic song “Spinning Wheel,” which can also be applied to the cycle of real estate values in most any market economy. After suffering through the 2008 economic crisis, ... (Aug 4, 2014, Nashville Business Journal (blog))
Trulia adds real estate agent profiles to its databases, like LinkedIn for agents
Inside the app's agent directory section, real estate agents can have their own profile page with pictures, information, infographics, reviews, ratings, contributions to the Trulia Voices community, and more. They can also easily update them to make ... (Aug 4, 2014, VentureBeat)
Print ad standbys The Real Estate Book, Homes & Land now under same owner
A private investment firm that purchased the publisher of The Real Estate Book in 2012 has acquired another venerable real estate marketing brand, Homes & Land, saying local print advertising remains “a very strong business model.” Both The Real Estate ... (Aug 4, 2014, Inman.com)
Swiss Real Estate Market Inches Closer to Bubble, UBS Says
Risks to the Swiss real estate market increased “marginally” in the second quarter as growth in home prices and mortgages outpaced that of income. The UBS Swiss Real Estate Bubble Index rose to 1.24 points in the three months to end June from 1.22 ... (Aug 5, 2014, Bloomberg)
Real estate briefs: IKON Construction sells offices ahead of move
based real estate investment trust has acquired the 13,038-square-foot building occupied by Chuck E. Cheese's for $2.4 million. National Retail Properties Inc. bought the property at 5312 Hickory Hollow Lane from Brauvin Real Estate, a Chicago-based ... (Aug 5, 2014, The Tennessean)
Get ready for the New York real estate bubble to POP!
According to the second-quarter report from Douglas Elliman Real Estate, the average amount of days a property is on the market is 96, which is down 46 percent from a year ago. Oddly enough, however, the amount of properties available for sale ... (Aug 5, 2014, CNBC)
Porn Out, Hotels In as Sunset Strip Reborn: Real Estate
It was rocked by the Doors in the 1960s, Van Halen in the '70s and Guns N' Roses in the '80s. Now California's Sunset Strip is getting a new sound: the booms of buildings being demolished and new ones developed. Known for its giant billboards ... (Aug 5, 2014, Bloomberg)
Frierdich Group, Schnoebelen/Rowe teams rank on Highest-Selling Real Estate ...
Frierdich Group, Schnoebelen/Rowe teams rank on Highest-Selling Real Estate ... (Aug 5, 2014, St. Louis Business Journal (blog))
$35M real estate deal involving Wegmans' site in KoP completed
The transaction involved CBRE Inc.'s institutional advisory division in Boston and it couldn't be determined if the real estate firm bought it on behalf of a client or some other affiliated entity. A representative from Realen Properties, based in ... (Aug 5, 2014, Philadelphia Business Journal (blog))
India Is Luring Real-Estate Investors Again
MUMBAI—Encouraged by India's strengthening economy and the pro-business agenda of Prime Minister Narendra Modi, foreign investors have begun to return to the India real-estate market after fleeing the country in the wake of the financial crisis. But ... (Aug 5, 2014, Wall Street Journal)
Valley man accused of defrauding $360000 from real estate investors
A Modesto man was arrested Tuesday on allegations he mislead victims into putting funds into what they believed were legitimate real estate investments. Xue Heu, 37, faces eight counts of wire fraud for allegedly taking more than $360,000 from ... (Aug 5, 2014, News10.net)
Real estate transfers
451 Trail West, Dufault, James L. and Haag, Lara M., to, Minier, Keith L. and Kelly E., $248,900. 9046 Lupine Drive, Haag, William J. Jr. and Judith L., to, Wallstrum, David, $206,000. 138 Rome Drive, Kennedy, Darren M. and Jones, Kari S., to, Booth ... (Aug 5, 2014, The Newark Advocate)
Self-Storage Magnates Cash In on the Surge in Real Estate
“You don't have to paint walls and replace carpets when tenants move out,” says Jason Smith, a broker in Salt Lake City for Calabasas, California–based real estate firm Marcus & Millichap Inc. “You just take a broom and sweep. The eviction laws are ... (Aug 6, 2014, Bloomberg)
Prudential Myrtle Beach Real Estate Joins Berkshire Hathaway HomeServices ...
Prudential Myrtle Beach Real Estate Joins Berkshire Hathaway HomeServices ... (Aug 6, 2014, MarketWatch)
Behold the worst real estate listing ever
It's enough to make those of us who dwell in our beer hall and yoga studio-infested cities, where a mattress in a closet goes for $900 a month — swear to God — want to weep. A four bedroom, 2,084 square foot, 1905 brick house for sale. OK, so it's in ... (Aug 6, 2014, Salon)
Housing Market Slide: Can Millennials Save Real Estate from Another Decline?
Over the last few months, a number of national real estate reports have generated mixed results, and as I recently detailed, homebuilder stocks have thus been stuck in neutral. But in the past two weeks it seems as if the homebuilders have slid from ... (Aug 6, 2014, Investorplace.com)
Takeshi Sekiguchi says his new Hawaii real estate firm can take on Zillow
When Sekiguchi announced earlier this year that he was starting a real estate business that combines technology with people, he said that he was investing $50 million into the company and planned to expand it to other states. Buyers register with the ... (Aug 6, 2014, Pacific Business News (Honolulu) (blog))
Hercules: Suspect arrested in real estate scam
HERCULES -- A 21-year-old man has been arrested for a Hercules real estate scam, police said. Authorities say Gino Eckstein, of San Francisco, tried through Craigslist to rent out a home on the 1900 block of Pheasant Drive that was on the market to be ... (Aug 6, 2014, Contra Costa Times)
Real estate taxes soar along with home prices
One side effect of soaring home prices: Real estate taxes are soaring too. The government provides many incentives to homeownership, including the mortgage-interest deduction and capital gains exclusion. But the interest deduction is generally limited ... (Aug 6, 2014, SFGate)
Uptick in real estate spurs boom in those seeking to sell it
Instructor Keith Grandy, left, teaches a class to aspiring real estate agents at the Gold Coast School of Real Estate last month in Doral. Low interest rates, foreign buyers and a gradual end to the foreclosure crisis are driving the modest turnaround ... (Aug 7, 2014, Tampabay.com (blog))
Austin real estate market vulnerable to undercutting, industry execs say
Now, those high prices threaten to derail the booming Austin real estate market as buyers consider their options in other cities such as Dallas, Phoenix, Arizona and Atlanta, among others, according to the Austin American Statesman, which reported on ... (Aug 7, 2014, Austin Business Journal (blog))
July Chicago Real Estate Market Update: Home Sales Rapidly Declining
In two weeks when the Illinois Association of Realtors releases their July numbers it will definitely look like the Chicago real estate market is on the decline. They will report sales down by about 8.4% from last year, which is in fact a pretty ... (Aug 7, 2014, ChicagoNow (blog))
If you are buying or selling Real Estate after September 1, 2014, you will ...
If you are buying or selling Real Estate after September 1, 2014, you will ... (Aug 7, 2014, The Yucatan Times)
Should financial stumbles derail Realtor pursuing top real estate association job?
Yet the 49-year-old Hansen is in line to become treasurer and eventual president of Florida Realtors, the powerful organization whose mission is to "advance Florida's real estate industry.'' Supporters say Hansen's financial problems should not ... (Aug 7, 2014, Tampabay.com)