Real estate News 12/2016
Poll: Describe your 2017 real estate and economic outlook
When the dust and sparkle of the holidays settle, what kind of 2017 world will we wake up to and face for the next 365 days? Inman wants to know if readers feel optimistic about next year's housing market, economy, sales potential, home prices and ... (Dec 1, 2016, Inman.com)
Chicago expected to be worst of nation's 100 biggest real estate markets in 2017
Chicago will have the coldest real estate market among the nation's 100 largest metro areas next year, according to a forecast released yesterday. The double-barreled forecast of slim increases in prices and in the number of homes sold landed Chicago ... (Dec 1, 2016, Crain's Chicago Business)
Suburban farms no match for hot real-estate market
On a small farm in the Sammamish Valley on the urban fringe just 13 miles northeast of the Space Needle, Hampshire pigs squeal for their breakfast. An alpha sow, named Soprano for her high pitch, tails behind farm manager Perry Acworth. Carrying pails ... (Dec 1, 2016, Crosscut)
Spitalfields's Luxury Real Estate on the Rise
The tiny enclave of Spitalfields was notoriously known as the place where Jack the Ripper stalked his prey. Now its real estate is outperforming rival neighborhoods in prime central London. Photo: Vanessa Berberian for The Wall Street Journal This ... (Dec 1, 2016, MarketWatch)
US real estate developer Cordish proposes $2.3 billion Madrid project
MADRID U.S. real estate developer Cordish Companies proposed on Thursday a 2.2 billion euro ($2.3 billion) investment to build an entertainment complex outside Madrid, the largest of its kind in Europe, with the creation of over 50,000 jobs. The plans ... (Dec 1, 2016, Reuters)
Chicago last of U.S.'s 100 largest real estate markets in 2017 ...
Chicago last of U.S.'s 100 largest real estate markets in 2017 ... (Dec 1, 2016, Crain's Chicago Business)
First National Denver Provides Snapshot of Recent Commercial Real Estate Deals
DENVER, Dec. 1, 2016 /PRNewswire/ -- First National Denver's commercial real estate division has recently extended loans to support commercial development in Denver-metro. The highly specialized team of bankers applies deep geographical and ... (Dec 1, 2016, PR Newswire (press release))
In Miami Beach, A Penthouse Looks To Set A Real Estate Record
Despite the sour news, some sellers continue to test the very high end of Miami's market for real estate. The latest example comes in the form of a Miami Beach penthouse just listed by Douglass Elliman for $65 million. If it fetches that asking price ... (Dec 1, 2016, Forbes)
Will Trump affect Boston's real estate market?
The president-elect's handling of his international real estate holdings has come under increased scrutiny since the election, especially amid reports that suggested he discussed them with foreign leaders on congratulatory phone calls and hosted ... (Dec 1, 2016, The Boston Globe)
Trump Could Mean New Opportunities For Real Estate Investing In ...
Trump Could Mean New Opportunities For Real Estate Investing In ... (Dec 1, 2016, Forbes)
How do you 'sell' a price reduction to your real estate clients?
The best we can do is to market a home effectively, but the simple fact is that real estate is a product, and the consumer is better equipped than ever to evaluate, compare and decide whether to make an offer and what kind of offer to make. The ... (Dec 2, 2016, Inman.com)
The issues in real estate that no one likes talking about
by Inman | on Oct 13, 2016. What's the future of the real estate commission model? Agents and brokers weigh in on the fate of the 6 percent cut. by Inman | on Nov 8, 2016. Why I left journalism for real estate. How team owner Bob Sokoler transitioned ... (Dec 2, 2016, Inman.com)
Star Designers Leave Lasting Imprint on Luxury Real Estate
“A big name gives credibility and a sense that there's going to be some quality control,” said David Martin, the president and co-founder of Terra Group, a Miami-based real estate development firm. This is especially important in new developments ... (Dec 2, 2016, Mansion Global)
Miami's Cuban real estate players weigh in after Castro's death
“I think that many people in the United States are looking to tee up the ability of when they are going to business with Cuba,” Andres Asion, founder of Miami Real Estate Group, said. Asion, who's close with Versailles and La Carreta owners the Valls ... (Dec 2, 2016, The Real Deal Magazine)
What Opendoor's Uber-like funding round means for real estate
Property-exchange platform Opendoor just bagged what is probably the largest funding round ever for a real estate tech startup, with a reported valuation of at least $1 billion only two years after launch. The startup is overhauling the traditional ... (Dec 2, 2016, Inman.com)
Old real estate maps of the Twin Cities contain details of a forgotten ...
Old real estate maps of the Twin Cities contain details of a forgotten ... (Dec 2, 2016, Minneapolis Star Tribune)
Complaints about Kohlhepp to Real Estate Commission never investigated
Todd Kohlhepp became a licensed real estate in Spartanburg in 2006, eventually opening his own office in 2009. Kohlhepp was the broker in charge for TKA Real Estate Agency, employing several agents to sell homes in Spartanburg and Greenville counties ... (Dec 2, 2016, WSPA.com)
These Miami Properties Will Transform the City's High-End Real Estate Market
Much has been said about the city's most recent real estate boom, which has seen new mega malls, art museums, hotel complexes, and sky-high condos, fueled by investors looking for havens from the rocky political and economic climate in Latin America, ... (Dec 2, 2016, TownandCountrymag.com (blog))
Family-run business grows into Austin real estate power
It has been 40 years since Michele Turnquist launched her residential real estate career with her first deal, but she easily remembers the day. “It was 7 a.m. My client held (my daughter Kathryn) while I wrote an offer on the hood of the car ... (Dec 2, 2016, MyStatesman.com)
Sacramento projected to be a top real estate market in 2017
A new report by a national real estate listing website predicts Sacramento will be a top market in the nation to buy a home in 2017. Realtor.com Chief Economist Jonathan Smoke analyzed data from the nation's 100 largest metropolitan markets. Smoke's ... (Dec 2, 2016, ABC10.com)
Real estate briefly: Pacific Castle wraps 3 deals; Bixby in $18M buy; Bartlett joins Center for Real Estate
The sponsor, Dornin Investment Group, an institutional real estate investment firm actively buying office properties throughout the western U.S., was eager to take advantage of a low interest rate environment and restructure the debt to provide future ... (Dec 2, 2016, OCRegister)
Six arrested in 'elaborate' real estate fraud scheme
The DA's office formed a Riverside County Real Estate Fraud Task Force in late 2015, according to a spokesperson, and this investigation began in early 2016. Detectives from the Murrieta, Corona and Cathedral City police departments are members of the ... (Dec 3, 2016, The Desert Sun)
Real estate transfers: Dec. 4, 2016
To determine the purchase price of the real estate, divide the transfer fee by 0.003. For example, a transfer fee of $250 would indicate a purchase price of $83,333. Real estate sold at a price of $100,000 would have a transfer fee of $300. Nov. 21 ... (Dec 3, 2016, Herald Times Reporter)
Local to lead national real estate trade association
A local Realtor will be stepping into a new role in January with the country's largest real estate trade association. Randy Scheidt, who serves as president of Don R. Scheidt & Co. Real Estate Services, will serve as chairman of the National ... (Dec 3, 2016, The Republic)
Montgomery County real estate briefs: Week of Dec. 4
The Fox & Roach legacy began in 1886 when Fred Fox Sr. opened Fox Real Estate, its first office located in Center City, Philadelphia. In 1958, Fred Jr. incorporated with William Lazo, and Fox & Lazo was born. On the Roach side, in 1939, Bob and Charley ... (Dec 4, 2016, Montgomery Newspapers)
Selling real estate after a death
The first and the easiest way to handle the sale of real estate following a death is to use an informal probate process. The informal probate process involves the use of an Affidavit for the Transfer of Real Estate. Essentially, if the value of all of ... (Dec 4, 2016, nwitimes.com)
Do Real Estate Investment or “Flipping” Seminars Really Help You Make Money?
Before you invest in a Real Estate Investment or “Flipping” Seminar, do your homework. Make sure you understand what you are getting into with this type of program. This business model is more complex than it appears; there is no legitimate way to “get ... (Dec 4, 2016, whnt.com)
BRIEF-Solidare real estate holding sells residential portfolio
BRIEF-Solidare real estate holding sells residential portfolio. Dec 5 Solidare Real Estate Holding Plc : * Sells residential portfolio. * Sold its Pilatus portfolio via one of its Duesseldorf based units; buyer is an investment fund managed by ZBI ... (Dec 5, 2016, Reuters)
3 real estate tech movers and shakers turning heads
Have suggestions for products that you'd like to see reviewed by our real estate technology expert? Email Craig Rowe. A flurry of software updates and new product news came rolling in to the tech review inbox last week. First, the new: ZipComps ... (Dec 5, 2016, Inman.com)
Suzanne Amaducci on big deals, Miami real estate and how the law has changed
The Bilzin Sumberg partner leads the Brickell-based firm's real estate group, overseeing 33 attorneys. Her team has worked on transactions including the $1.4 billion development of Miami's Design District; more than $200 million worth of construction ... (Dec 5, 2016, Miami Herald)
I believe Miami agents cooperate better — and that everyone wins
One of the many blessings of buying and selling Miami real estate is the extraordinary camaraderie that exists between professionals in our industry. Such a phenomenon is difficult to quantify, but having worked several deals outside of Miami over the ... (Dec 5, 2016, Miami Herald)
How to buy a property without a real estate agent
But if you have a friend who owns a home and that friend is going to sell you the property, you would likely want to hire a real estate attorney to help prepare documents and make sure that those documents not only protect you, but are filed correctly ... (Dec 5, 2016, Washington Post)
Are the Days Of Real Estate Agencies Numbered?
"Not only is there an age gap between the real estate agents and buyers/sellers, but there is a technology gap," he says, adding that just 40,000 out of a total of 190,000 realtors who are members of the California Association of Realtors use ... (Dec 5, 2016, TheStreet.com)
Israeli company promises to revolutionize real-estate with virtual-reality technology
Bnei Brak-based Metanoia Interactive is the first, and so far only, company that brings cutting-edge virtual reality (VR) technologies into the Israeli real-estate market, helping consumers and corporate clients experience home purchasing and design in ... (Dec 5, 2016, Jerusalem Post Israel News)
Credit Restrictions Make Real Estate Buys Stall
The result is that relatively well off would-be borrowers can get the loans they want (as can home builders as they fund projects), but those with less-than-stellar credit profiles or steady income records may in fact be frozen out of the real estate ... (Dec 5, 2016, PYMNTS.com)
What China's Capital Controls Mean For Global Real Estate
Rumor has it that China is going to clamp down on outbound investment. What does it mean for the billions of dollars flowing into American real estate by Chinese nationals? Last Monday, China's National Development and Reform Commission, The People's ... (Dec 5, 2016, Forbes)
92-year-old Savannah real estate pioneer honored
"What you did and the trail that you blazed made a difference in everything I've done and all the women in this room and it's beyond real estate,” Thompson said. Following the ceremony, Konter's photograph was displayed in the board room of the ... (Dec 5, 2016, WJCL News)
And the top real estate market for 2017 will be…
The National Association of Realtors, the Mortgage Bankers Association, Fannie Mae and Freddie Mac predict that home sales are going to heat up in 2017, and a new report from realtor.com shows just which markets will see most of that heat. According to ... (Dec 5, 2016, HousingWire)
Under Armour CEO Kevin Plank touts Port Covington at real estate conference
Conference attendee Jeffrey H. Newman, who heads the real estate practice at the Newark, N.J.-based Sills Cummis & Gross law firm, said he was "absolutely impressed" by Plank's pitch, which promoted Under Armour and touched on Plank's plans for the ... (Dec 5, 2016, Baltimore Sun)
Investing for Beginners: How to Invest in Real Estate
If you have the down payment, time and motivation for direct real-estate investing, find a real estate agent who deals in rental properties and start viewing properties. Be prepared to evaluate the property's financial records. Do the math to ensure ... (Dec 6, 2016, Go Banking Rates)
Real estate sector has sunk since its creation, and could spiral further
The S&P 500 real estate sector has been the market's worst performer since its launch in September, and these high dividend-yielding names could see more ... (Dec 6, 2016, CNBC)
India's Currency Ban Hits Real-Estate Market
Much of the country's real-estate transactions, particularly land and home sales, have been conducted on a largely cash basis to avoid taxes. With many buyers now on the sidelines, sales have evaporated and huge price discounts are expected when the ... (Dec 6, 2016, Wall Street Journal)
Family-run business grows into Austin real estate power
It has been 40 years since Michele Turnquist launched her residential real estate career with her first deal, but she easily remembers the day. “It was 7 a.m. My client held (my daughter Kathryn) while I wrote an offer on the hood of the car ... (Dec 6, 2016, MyStatesman.com)
If you're a homeowner, you're a real estate investor
How do you feel about investing in real estate in addition to the stock market? I am fortunate to have a decent nest egg. I have a 401(k) account and a taxable account that I invest in stocks. I have a $300,000 low-interest rate mortgage on my house ... (Dec 6, 2016, MyStatesman.com)
Condo prices are rising, and fast
Massachusetts condo prices rose 4.7 percent between the beginning of January and the end of October, according to real estate market tracker and data firm The Warren Group. The median price for single-family homes in the state rose 1.7 percent during ... (Dec 6, 2016, Boston.com)
Recent Commercial Real Estate Transactions
An local investor has bought this 6,375-square-foot five-story brick-and-brownstone rowhouse with a basement, facing Tompkins Square Park, in the East 10th Street Historic District in the East Village. This 25-foot-wide Greek Revival house, designed by ... (Dec 6, 2016, New York Times)
BRIEF-Salhia Real Estate says unit signs two Islamic credit facilities
BRIEF-Salhia Real Estate says unit signs two Islamic credit facilities. Dec 6 Salhia Real Estate Co Kscp. * Signs two credit facilities with separate Islamic lenders. * Unit signs 9-year term, 15 million dinars Islamic credit facility, and another 8 ... (Dec 6, 2016, Reuters)
Say what? 19 real estate listing terms — translated
Real estate has a language all of its own, and there are unique expressions and phrases used quite often, especially when looking at property listings. It can be challenging to decipher what the listing agent really means when describing a property or ... (Dec 7, 2016, Inman.com)
A 29-Year-Old Just Attracted Five Former Top Credit Suisse Real Estate Bankers To His Firm
Nate Paul, the 29-year-old founder of World Class Capital Group, recently hired five former high-level Credit Suisse real estate bankers to his firm, marking a rapid expansion of his real estate investment business. Paul's firm recently hired Paul ... (Dec 7, 2016, Forbes)
House Hunting in ... Mexico
The house is being sold furnished, said Nancy Edwards, a broker at the Cozumel Living Real Estate Company, which has the listing. The rent is $4,000 a week, $6,000 a week at Christmas. From the foyer, three steps lead to a sunken living room with built ... (Dec 7, 2016, New York Times)