While the promise and transformative power of generative AI use cases may be appealing, implementing the technology can be a tricky balancing act, as enterprise-wide strategies around data, operations, and talent are fundamental to any integrated strategy. Specifically, real estate companies should take the following factors into consideration: Data Strategy and Model Validation “Location, location, location” is no longer the sole determinant of strategic advantage in real estate. Companies are increasingly realizing that “accurate, timely and comprehensive data” holds the key to building competitive advantage. This is especially true now as emerging technologies such as generative AI revolutionize how we…
Author: Private Lending Agent
Retail prices across the U.S. housing market recovered in the second quarter of 2023, and so did profits for home resellers. But this increase in profit margins came even as fix-and-flip sales as a percentage of total home sales fell to a two-year low, according to Atom's Q2 2023 U.S. Home Resale Report. From April to June, home flips accounted for 8% of all sales, down from 9.9% in Q1 2023 and 8.9% in Q2 2022. While this is still a high percentage, the decline is a notable trend historically. Notably, the average time between investor purchase and resale for…
Micro- and macroeconomic trends collided at Commercial Observer’s annual Capital Markets and Opportunistic Strategies Forum on Nov. 28 at 22 Vanderbilt, a newly renovated mixed-use office property on the site of the old Biltmore Hotel next to Grand Central Terminal in Midtown Manhattan. After a few words from the building’s host, Damon Lopez-O’Dwyer from Milstein Properties (and there were also a few words from Adrienne Coyle of Starwood Solutions, one of the event’s sponsors), the morning opened with Ryan Severino, chief economist and head of research at investment firm BGO, holding court with Sam Chandan, founding director and professor at the C.H.…
While many of the impacts from the COVID-19 pandemic have been mitigated, the continued prevalence of remote work continues to impact the commercial real estate market. Earlier this year, we published a weekly chart showing how difficult it is to know the value of commercial office buildings because there are so few sales. This is a big problem for Washington, DC, because the city derives more than $1.1 billion in tax revenue from commercial office buildings, and uncertainty about the value of its buildings increases fiscal risk. A building's Net Operating Income (NOI) is used to estimate assessed value, and…
Editor's note: We earn commission from Forbes Advisor partner links. Commissions do not influence our editors' opinions or ratings. New data shows how difficult it is for small businesses to borrow money as interest rates remain high and banks tighten lending standards. The percentage of small business loan applications approved by banks over the past year has fallen, with approvals by credit unions dropping to an all-time low, according to a new report from small business financing platform Biz2Credit. And the loans that small business owners do get are becoming more expensive: More than 40% of senior loan officers surveyed…
A tough market can be hard for anyone, but especially for those who are unprepared. Luckily, there are ways Florida commercial property owners can be proactive and help out. (Credit: michaklootwijk/Adobe Stock) Florida commercial property owners are worried, and rightfully so: In the wake of hurricanes that have battered the Gulf and Atlantic coasts this year, businesses across Florida are bracing for significant increases in catastrophe property insurance, with some seeing renewal rates increase by up to 125% or more. Increasing risks and rising losses from catastrophic natural disasters have led insurers to raise premiums, limit coverage options, and even…
Property management is often a core function of a real estate agency, with property managers playing a key role in both looking after the properties and landlords, and managing tenants. Property managers are often in the position of working closely with both tenants and landlords to find solutions and keep everyone happy. This isn't always an easy thing to do, but it all starts with understanding your responsibilities and managing both the workload and expectations of everyone involved. Property Management After all, property owners hire property managers because they are experts in their field. Landlords delegate responsibilities to save time…
NEW YORK (AP) Of the many challenges small businesses face these days as they seek to grow, obtaining financing is near the top.As the Federal Reserve has raised interest rates over the past two years, banks big and small have tightened their lending standards, and the collapse of three community banks this spring and the possibility of even tougher regulations may be making some banks more cautious.So business owners are having to make sacrifices, turning to crowdsourcing rather than lenders, borrowing from family and friends, or simply giving up on expansion plans that could have been funded by more capital.According…
Get your free copy of Editor's DigestFT editor Roula Khalaf picks her favourite stories in this weekly newsletter.The European Central Bank has warned that euro zone property companies are suffering sharply increased losses and some will struggle to repay debts that have risen to levels higher than before the 2008 financial crisis.The ECB said the losses “will affect the resilience of banks' lending books”, blaming them on a sharp rise in funding costs, falling commercial property values, falling rental income and growing concerns about the energy efficiency of buildings.The central bank said signs of stress in the commercial real estate…
Opinions expressed by Entrepreneur contributors are their own. Flipping property doesn't have to be complicated. The term refers to buying a property and then renovating it and “flipping” it for a profit.Follow the top tips in the guide below to help you navigate this process and find a quality property suitable for resale.Related: This company aims to reinvent the home resale process for both buyers and sellers Find the right propertyFirst, you need to find a suitable property to resell.Establish a baseline:The first step in finding the right property to resell is to create a list of criteria based on…