WASHINGTON (May 6, 2024)—The National Association of Realtors (NAR), National Association of Home Builders (NAHB), Mortgage Bankers Association (MBA), National Land Title Association (ALTA), National Apartment Association (NAA), United States Mortgage Insurance Association (USMI), National Multifamily Housing Council (NMHC), National Asian Real Estate Association (AREAA), National Alliance of Property Owners (APOA), National Association of Major Builders, and Nareit are grateful to Rep. Mark Alford (R-MO), Rep. J. Luis Correa (D-CA), Rep. Tracy Mann (R-Kansas), and Rep. Brittany Pettersen (D-CO) for launching the bipartisan Congressional Real Estate Caucus. It is critical that Congress support policies that foster growth in the real…
Author: Private Lending Agent
Voltaire once said, “Appreciation is a wonderful thing — it makes what is excellent in others belong to us as well.” Without stepping on an enlightened man’s toes, it does beg the question:SEE ALSO: Blackstone Winding Down Home Partners of America; Tricon to Manage SFR Assets In the world of commercial real estate finance, appreciation — either metaphorically or economically through increased building values — has been a rare virtue over the last four years. This is particularly true in the beleaguered office sector, where hybrid work has ravaged traditional cash-flow assumptions, as well as within other asset classes as…
Charlotte Buyer: 3122 Gilham LLCSold by: Zamzam Florida LLCAddress: 10229 Tamiami Trail, Punta GordaProperty Type: Commercial Vacant LandPrice: $2,236,300Buyer: Aimy Lam VanSold by: Kelly DePualoAddress: 1986 Massachusetts Ave., EnglewoodProperty Type: ApartmentPrice: $1,000,000Previous price: $875,000, March 2022CollierPurchaser: City of NaplesSeller: 10th Street North LLCAddress: 170 10th St. N., NaplesProperty Type: Commercial and residential complexPrice: $4,900,000Previous price: $2,400,000, April 2021Purchaser: Coastal Companies FL LLCSeller: 5840 Yahl St LLCAddress: 5840 Yahl St., NaplesProperty Type: WarehousePrice: $2,150,000Previous price: $1,150,000, September 2021Hillsboro Buyer: Lennar Homes LLCSeller: Simmons East LLC and Simmons East Development LLCAddress: TampaProperty Type: Vacant landPrice: $4,220,400Purchaser: Modesta Homes LLCSold by: Madsen Isles…
Felix Aidala, Andrew Houhoudt, Ben Hyman, Jason Somerville, Wilbert van der Klaauw The US housing market has been through turbulent times in recent years. After dropping to record lows during the pandemic, the average interest rate on a 30-year mortgage has risen sharply in 2022 and 2023, currently hovering around 7.2%, a 20-year high. For those who took out mortgages at low interest rates before 2022, this sudden increase in interest rates has significantly increased moving costs, as taking out a mortgage at current interest rates could increase monthly mortgage payments by hundreds to thousands of dollars even if the…
Key Takeaways Business bank loans offer flexible terms and attractive interest rates. When applying for a business bank loan, businesses should prepare for longer wait times for approval and longer funding times. Types of business bank loans include term loans, equipment loans, microloans, and lines of credit. Do you have big plans for your business? If your company is established, a business bank loan can be a convenient and viable solution. Business bank loans are generally available to business owners who can prove their company's financial health. It's also advantageous to have a strong credit rating. Most banks will review…
Fix and resell investments are exactly as the name suggests: properties that you both fix and resell.It's a simple strategy popularized by reality home-renovation stars over the past 15 years or so: buy a house in poor condition, fix it up smartly and affordably, and sell it at a profit.The secret to successful real estate flipping is buying properties below market value and then increasing their value through strategic repairs and upgrades. To do this, investors need to find the right market. Some investors look for the hot markets they see in the headlines, but the reality is that fix-and-flip…
Walter Bibikow/Digital Vision via Getty ImagesKKR Real Estate Finance Trust (NYSE: KREF) ended its first quarter of fiscal 2024 with a book value of $1.38 billion, or $15.18 per share, down 34 cents quarter-over-quarter. The continued decline in book value has essentially plummeted investor sentiment towards the real estate lender, opening up a large gap at 51% of book value. KREF's CECL provision also increased to $3.54 per share from $3.06 per share in the previous quarter, and the mREIT last declared a quarterly cash dividend of $0.25 per share, a steep 41.9% decrease from its previous dividend, for a…
CommentaryFundamentals in Houston's prime office market trended downwards at all levels in the first quarter, while Skanska completed its newest 386,323-square-foot building, 1550 on the Green, in the Central Business District (CBD). The new property is currently 35% leased by law firm Norton Rose Fulbright, which is expected to be occupied by the third quarter of the year.The completion of this building and one smaller property in the Southwest leaves the office market with four buildings under construction with just 214,437 square feet, a record low. Just one property, a 32,000 square foot property, broke ground in the Southwest in…
David DeemBroker Associate714-997-3486The inventory of active homes for sale over the past few weeks has increased by 136, up 6%, to 2,320. There were 1,623 fewer homes on the market in March, 42% fewer than the pre-COVID three-year average (2017-2019). There were 149 more sellers on the market in March this year compared to 2023. Last year, there were 2,076 homes on the market, 244 fewer, an 11% decrease. The pre-COVID three-year average (2017-2019) was 6,002, up 159%, more than double. · Demand, or pending sales month-over-month, has increased by 59 over the past two weeks, up 4%, and is…
There are countless reasons why real estate deals fail. Many focus on finances and the property itself. (Getty Images/iStockphoto) Today we have to bring in David Letterman to discuss the top 10 reasons why commercial real estate deals don't close. As we've discussed many times in this column, commercial real estate transactions are simply leases or purchases. What sets us apart from residential real estate agents is that the majority of our transaction volume is leases. Specifically, some agents specialize in negotiating leases on a renewal, direct, or sublease basis. These professionals are known as “tenant-representative” brokers because the majority…