What a quarter! Our agents are setting records across the country, from the high-rises of West Hollywood to the coast of Florida to the foothills of Idaho. Read on for a summary of the most notable transactions of the second quarter. California 8899 Beverly's Penthouse East Located in the exclusive Westwood Oaks neighborhood, the penthouse at 8899 Beverly has set a new benchmark as the highest condominium sale this year. Listed on the MLS for $25 million, the property is a collaboration between Mauricio Umansky and Michel Montagny of Agency Development Group and embodies unparalleled luxury and urban sophistication. Additionally,…
Author: Private Lending Agent
LOS ANGELES (AP) — Home builders who weathered the worst of the housing market's downturn last year may be seeing their luck run out.U.S. new home sales showed signs of recovery earlier this year but fell 7.7% and 16.5% year-over-year in April and May, respectively.The U.S. Census Bureau said Wednesday that vehicle sales fell to a seasonally adjusted annual rate of 619,000 units last month, the lowest since November.MORE FROM EYE ON YOUR MONEY:The average interest rate on a 30-year mortgage has hovered around 7% this year, according to mortgage buyer Freddie Mac. Rising rates have put many would-be homebuyers…
The Keyes Company has announced a significant addition to its team of over 300 talented real estate agents, formerly part of Coral Shores Realty, who will be based in the Keyes Plantation office. The new members are led by Ron Sica and Alex Sica, who bring a combined total of more than 50 years of real estate industry experience to Keyes. Ron Sica has been a licensed real estate broker since 1980 and Alex Sica has been a broker associate since 2010. Coral Shores Realty has closed more than $4 billion in residential transactions. “We are thrilled to welcome this…
Rider University, a small college outside Trenton, New Jersey, is seeking additional funding to help relieve its ongoing liquidity crisis. According to a bond filing on Friday, university officials have asked bondholders for permission to borrow against a mortgage on the school's main campus in Lawrenceville, New Jersey. If approved, it would give Rider University much-needed cash in the short term. “In the spirit of good partnership with our current bondholders, we have consulted with them on this matter and understand that the majority of them intend to agree with the proposed amendments,” school spokeswoman Christine Brown said. The proposal…
In a joint statement, the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) released the latest loan-level data collected through the National Survey of Mortgage Originations (NSMO) this week. The data provides “up-to-date mortgage performance and credit information for a nationally representative sample of mortgage borrowers from 2013 through 2021,” the agency explained. The FHFA and CFPB have been sending surveys to recent mortgage borrowers on a quarterly basis since 2014 to gather feedback on a range of market ideas, including consumers' experiences with the mortgage process, future expectations, and overall market perceptions. The latest release…
Bitcoin fell 2% and Ethereum dropped 1.5%, while Solana and Polkadot only saw small gains.Crypto markets fell on Monday after Federal Reserve Chairman Jerome Powell said the U.S. central bank is not yet ready to cut interest rates.Bitcoin fell 2% to $61,850 and Ethereum fell 1.5%, while Solana and Polkadot were trading flat on the day.BTC Price”Bitcoin's dominance has fallen by more than 5% in recent days, from 52.8% on June 25 to around 50% currently. This drop generally encourages market diversification and encourages investors to explore other digital assets,” said Tristan Frizza, founder of Zeta Markets.Among the top 100…
PALM BEACH, Fla. , July 2, 2024 /PRNewswire/ — The Tropical Getaway Summer Auction event will feature some of the Caribbean's most luxurious properties with original list prices ranging from $9 million to $80 million. The auction will include eight homes in St. Barts, two private islands in the Bahamas, two homes in the Dominican Republic, one home in the Cayman Islands and one luxury yacht. “This auction has taken over seven months to put together, and with the minimum bid at 64% off, there couldn't be a better opportunity to offer buyers,” said Guy Masters, President of G3 Auctions.…
Tuesday, July 2, 2024 7:16 AM Share on Facebook Share on Facebook X Share on Twitter Share on LinkedIn WhatsApp Share on WhatsApp Share via Email Revolut has been waiting for a UK banking licence for three and a half years. Fintech company Revolut filed its first timely financial report in years, reporting record annual profits and nearly doubling its 2023 revenue. The London-based banking app reported pre-tax profits of £438 million for the current financial year, recovering from a £25.4 million loss in 2022. Gross profit margins increased to 76% from 70%. Revenue last year was £1.8 billion, up…
When Nexa Mortgage announced its Nexa 100 program, a 100% commission product, in late May, social media was abuzz with emotion and confusion. “Can someone explain this program to me as if I were a 5-year-old?” joked one broker in a Facebook group for mortgage lenders. Other commenters found the company's program “too good to be true.”This may be in part due to the lack of details in Nexa's press release announcing the program, or it may stem from disbelief as to how a company could launch such a program and continue operating. Either way, CEO Mike Cortas is pleased…
WASHINGTON (AP) — U.S. job openings rose slightly in May to 8.1 million, despite the effects of interest rate hikes aimed at cooling the labor market.The Labor Department said Tuesday that job openings rose from a revised 7.9 million in April, dropping below 8 million for the first time since February 2021. April job openings were down from the 8.1 million initially reported. The number of people laid off rose to 1.65 million in May from 1.54 million in April. The number of people quitting jobs — a sign of confidence in future prospects — was essentially unchanged.”This report is…