This is a perfect storm for the commercial real estate lending industry. Rising interest rates have slowed the economy and made loans prohibitively expensive. Falling property prices and liquidity worries have caused banks to slow or stop lending to commercial real estate. And with seller expectations still high, transactions have fallen to a fraction of pre-pandemic levels. All of this has combined to send commercial lending stagnate. Second-quarter figures from the National Association of Mortgage Brokers showed commercial and multifamily mortgage lending volumes down an incredible 54 percent from a year ago. It's hard to think of any industry that…
Author: Private Lending Agent
The Small Business Administration (SBA) offers 504 and 7(a) loans that can be used to purchase real estate, construct new facilities, renovate existing buildings, and make improvements on land. These small business loans have long repayment terms and competitive interest rates, but you need strong qualifications to qualify. You may also need to meet property-specific criteria, such as owner-occupancy requirements.SBA real estate loans are provided by other lenders, such as banks, credit unions, and Certified Developers (CDCs).To better understand the unique needs of your business, we'll begin by completing a short survey.Once you find your perfect match, our team will…
Redfin has been around for 20 years, but it has yet to become a profitable company. Even in 2021, its most unusually good year, the company lost $109.6 million. There are a few reasons for this (poor timing of rental acquisitions, heavy investments in technology over the years), but the core of the issue is simple: Redfin has always paid its agents. Paying a payroll of 2,000-plus agents every two weeks is a harsh reality, and while Redfin has long outsourced work to “partner agents” and recently announced a goal of sending 50% of its leads to non-Redfin agents, the…
The COVID-19 pandemic has forced Americans to change the way they live and work, with ripple effects felt throughout the economy. More than a third of households report working from home more often than they did before the pandemic, and workers are now reporting to the office about 3.5 days a week, down 30% from the pre-pandemic norm. These changes have put pressure on the commercial real estate market, which is dominated by office buildings but also includes hospitality and healthcare facilities. Commercial real estate investment in the second quarter of 2023 fell 64% year over year. At the same…
By Andrew Warfield – Original Article The controversial One Park condominium development plan at The Quay has suffered its second defeat in as many weeks, as 12th Circuit Judge Hunter Carroll ruled Monday that Key Ventures LLC cannot convey air rights over Key Commons to Property Markets Group, which operates as Key Blocks 1 and 9 at The Quay. At its Oct. 12 meeting, the Sarasota Planning Commission voted 3-1 to recommend rejecting PMG's proposal to combine Blocks 1 and 9 and build One Park on both blocks, connected by a walkway over Key Commons. In his 30-page ruling, Judge…
This is a story about the work we're proud of and the clients we love. But we're going to start with the ending, because that's where the investment pays off and where people feel better than they've ever felt before. Let's let our client, John Turpin, President of Turpin Realtors, explain.”The best part of this experience was seeing how excited our agents were about our new brand identity. Within hours, they were sharing posts about the launch, promoting the new brand and supporting our decision to rebrand in a way we never expected.” Delight your customers. That's what it comes…
While the commercial real estate landscape is constantly changing, multi-tenant retail properties have become attractive investment opportunities across the country. These properties have attracted the attention of buyers and investors due to a variety of benefits they offer. As the economy continues to recover from the post-pandemic recession, multi-tenant retail is becoming more attractive as tenants look to expand their operations and add more storefront space. Reason 1: Versatility and flexibility Dynamic and customizable spaces Multi-tenant retail centers are becoming increasingly popular among investors due to their versatility and flexibility. These properties offer dynamic, customizable spaces that can easily accommodate…
Launch Interactive Tool How to Think About Tax Competition Executive Summary The TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. Foundation’s State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare. While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well states structure their tax systems and provides a road map for improvement. The…
Jay Granieri got into pickleball after it recently experienced a resurgence in popularity in the U.S. He also discovered that it was a perfect fit for his real estate business. A combination of tennis and ping pong, the fastest-growing sport in the U.S., pickleball's social aspect makes it a great pastime that connects you to more people in your community, says SRS Granieri, a broker with One Sotheby's International Realty in Fort Lauderdale, Fla. “What other sport brings all ages together? Pickleball bridges the age gap. You'll see millennials on the court and post-parent couples, and we all go to…
Buying a home is a huge milestone in one’s life and making the decision to actually go through it is already half of the journey. The tediousness of the process could sometimes become too overwhelming, which is why it pays to have a helping hand to guide you. If you are looking at homes for sale on Staten Island, New York for your new address, this comprehensive guide can help you navigate the process and give you a better perspective of the many neighborhoods that comprise this New York borough. Here’s your roadmap to buying a home in Westerleigh, Staten…