UK Business Improvement Districts (BIDs) are partnerships with the power to decide on mandatory additional taxes to pay for extra services such as increased security, business support and recreational events. Studies have shown that BIDs reduce crime in their areas. Francisco Nobre and Stefano Cellini write that BIDs can also lead to higher house prices, which can lead to gentrification. Would you like to live in an area where local shops and businesses pay to keep it safe and clean? This question is topical for US and UK cities, where local businesses have established so-called Business Improvement Districts (BIDs) to…
Author: Private Lending Agent
Downward angle icon Downward angle icon. Shutterstock/Getty Images The problems in the U.S. commercial real estate sector seem to be getting worse and spreading. Rising interest rates, tightening bank lending, and falling property values are hitting the sector hard. Some bold buyers are trying to take advantage of the turmoil by snapping up bargains. The tremors rocking the U.S. commercial real estate industry are spreading to other countries and sectors, threatening to escalate into a financial crisis as refinancing deadlines loom.But some investors aren't worried about being left behind – they believe the atmosphere of fear and confusion will allow…
Boston could face a budget shortfall of up to $1.5 billion over the next five years due to declining commercial property tax revenue, according to a report released this week.Evan Horowitz of the Tufts University Center for State Policy Analysis said the tax decline is expected due to the declining value of office space, which has seen a decline in demand across the country since the pandemic and the trend toward increased remote work. “Office space is not as attractive as it used to be,” Horowitz said. “Boston has a lot of office space. If office space becomes less attractive,…
I've been in love with this beautiful old house ever since the inspirational film Stepmom starring Susan Sarandon and Julia Roberts hit theaters in 1998. Some of the filming locations I've featured get a lot of online buzz (anyone interested in The Inner Circle?), but this is one of my favorites.This amazing property overlooks the Hudson River in Upper Nyack, New York, known as Glenholm. It was built in 1854 and has 6 bedrooms, 4 bathrooms and 5,239 square feet.I was first introduced to this home over 10 years ago, when the homeowners shared with us photos of what the…
From Golden Gate Sotheby's Bay Area Market Report… look up The new year brought renewed optimism to the San Francisco Bay Area housing market. A moderate decline in mortgage rates led to an increase in the number of buyers and sellers entering the housing market in January. Additionally, the San Francisco Bay Area economy expanded, with companies expanding employment at a moderate pace of 1.5% in 2023, creating 64,000 new jobs. Employment trends improved slightly at the end of the year, but weakness persisted in some higher-wage sectors as many technology companies continued to cut jobs. Despite headwinds in the…
Sunchase is a new 427-acre 55-and-over community with amenities such as pickleball courts, a dog park and a community garden. Groundbreaking is expected within the next two months. Last year the parish was named to the list of “10 Neighborhoods Where Everything Is Changing” and is still going strong with nearly 1,000 new housing developments under construction. Sunchase, being built by Del Webb, a division of national homebuilder PulteGroup, will be a gated community for people 55 and older on 427 acres of former Crosswind Ranch farmland, north of Wauchula Road (State Route 62) near Keene Road in Parrish, in…
U.S. commercial real estate is casting a skyscraper-sized shadow over lenders around the world, raising fears of a potential crisis. Germany's biggest lender, Deutsche Pfandbriefbank, is struggling to reassure investors over worries about its exposure to the sluggish market. And banks from New York to Japan are dealing with similar fallout, with worries that a broader contagion could send elevators soaring.what happened?Commercial real estate dominates the overall real estate market, and its umbrella includes not only traditional downtown office buildings but also retail, industrial, and multifamily properties, all of which have experienced a major boom over the past decade, fueled…
Median Price Median price isn't the best way to understand how a market is changing. It's not an apples-to-apples comparison. Just because the median price is now $450,000 (this is an example, not an actual number), doesn't mean that it's the same type of home that was bought last year for $460,000. People might just be buying smaller or bigger homes. So it doesn't tell you if prices have gone up or down. But it does tell you how buyers' needs have changed. Competing Offers The percentage of competing offers is the strongest indicator of market competitiveness. To stay up…
Tarek El Moussa has experienced plenty of strange discoveries while flipping homes. In his book, Flip Your Life, the HGTV star revealed that he's seen filthy homes that “go beyond run-of-the-mill unpleasant odors.” From finding knives stuck in walls to being buried alive by cockroaches, the Flip and Flip alum has dealt with plenty of strange occurrences and frightening situations. Naturally, we rounded them all up and asked El Moussa about other flips that have been particularly difficult for him.As for the strange finds, El Moussa was left with no answers as to the clues left behind and how they…
As winter arrives in cities and small towns across the country, many people are ill-prepared for the havoc that frigid temperatures can wreak on their homes. The mere lack of predictability as to when the winter season will hit can send homeowners scrambling to prepare their homes or properly maintain them in the current conditions. Therefore, keeping winter home safety tips in mind at least once a year is wise advice for all customers. If you live in an area with mild weather year-round, you probably won't have to worry about insulating pipes or dealing with frozen gutters, but some…