Top 3 Sales #1 MH III Fort Darling LLC purchased the 114,714-square-foot property at 8401 Fort Darling Road in Chesterfield for $9.3 million. Graham Stoneburner, Bo McKown and Chrissy Chappell of Cushman & Wakefield|Thalhimer represented the seller. #2 Shahpur Properties purchased the 10,392-square-foot lot at 116 N. 3rd St. in Richmond for $2.2 million. Tom Rosman and Justin Sledd of One South Commercial represented the seller. #3 1712 Floyd LLC purchased 12 units at 1712-1714 Floyd Ave. in Richmond for $1.8 million. Justin Sledd and Tom Rosman of One South Commercial represented the seller. Top 3 Leases #1 Academy Sports…
Author: Private Lending Agent
Climate change is expected to increase the frequency and severity of floods in the United States, creating greater risks for homeowners and mortgage lenders. Flood damage also tends to reduce the market value of affected homes, making homeowners more likely to default on their loans, especially if the damage is not covered by insurance. Those are some of the claims made in a new working paper from the Congressional Budget Office. The paper, “The Impact of Flood Damage on Subsidy Costs for Federally Backed Mortgages,” published this week, uses data on expected flood damage to mortgages and residential properties to…
Balancing the demands of eating healthy without spending a lot of money can be tricky. In this series, we'll try to find the healthiest, best-value options in the supermarket. And we've enlisted the help of Sunna Van Kampen, founder of Tonic Health, who has become a social media sensation by reviewing foods in search of healthier options. We'll also speak to a nutritionist each week.As always, a disclaimer: this series isn't trying to introduce you to the absolute healthiest options, but rather to help you get better nutrition for as little money as possible.This week we're looking at chocolate. “By…
Amy Mourd, principal at Mourd Evans Lawyers, will be speaking on “Commercial Real Estate Transactions Involving Different Types of Entities” on the second day of the Specialist Accreditation Conference 2024. This session will explore key rights involved in commercial real estate transactions and issues affecting different types of entities, including Foreign Investment Review Board considerations, GST, exemptions and tax benefits for certain trusts and companies. The session will also discuss self-managed super funds, exceptions to typical vendor warranties under the Transfer of Real Property Act, and recent case law. Ms. Mood is a Certified Real Estate Law Specialist, specialising in…
Timothy Douglas As the time it takes to exchange property contracts continues to grow longer, Propertymark has produced a new report, The Dickensian Legal Process, to investigate the reasons for the increasing delays. Propertymark's Housing Insights report revealed that while in March 2016, 78% of transactions were progressing to exchange of contracts within 12 weeks of offer acceptance, by March 2024 that figure has deteriorated significantly to just 29%. Data collected across the UK reveals a decline in the number of exchanges taking 5-8 weeks and 9-12 weeks, whilst the number taking 13-16 weeks and 17+ weeks is increasing. The…
Norfolk County Recorder William P. O'Donnell today reminded consumers of the importance of applying for mortgage forgiveness in a timely manner after their mortgage has been paid off. “As consumers, we all need to borrow money. Consumers borrow for a variety of reasons: to purchase a home, to renovate their home, to pay for their children's ever-increasing tuition fees, etc.,” says Register O'Donnell. “Debt that involves real estate results in a lien being recorded against the title to that property.” In the 2023 calendar year, more than 102,000 documents were recorded at the Norfolk County Register of Deeds Office, of…
In a bold move that signals a new direction for the company, The Sutton Group, one of Canada's leading real estate companies, has appointed James Innis as its new president and chief operating officer. With a diverse background that includes investment banking, corporate development and technology ventures across Europe and North America, Innis is poised to bring a fresh and innovative approach to the traditional real estate brokerage model. New Vision: Leverage the company's national reach to deliver new solutions to agents and brokers across the market. As an outsider to the real estate industry, Innis is working alongside industry…
The Royal LePage Home Price Survey released yesterday showed that total home prices in Canada rose 1.9 per cent year-over-year to $824,300 in the second quarter of this year. National home prices rose 1.5 per cent quarter-over-quarter despite slowing activity in Canada's most expensive markets. “Canada's housing market is struggling to find a stable rhythm, as the past three months have clearly demonstrated,” said Phil Soper, president and CEO of Royal LePage. “Home prices have increased across the country, but the number of properties being sold has decreased (which is an unusual trend). The silver lining is that inventory levels…
PGIM Real Estate, one of the world's top fund managers, has launched its first Australian real estate debt strategy, which is on track to achieve a $750 million target.The investment firm has already raised approximately $300 million and has confirmed prepayment commitments from several institutional investors, which will help it exceed $600 million in the coming months.PGIM Real Estate's first dedicated Australian real estate blended debt strategy delivers strong risk-adjusted returns and downside protection, the company said.PGIM said in a written statement that its investments will focus on senior development loans, gap financing and financing of transitional real estate assets.The…
A reverse mortgage for home purchase (also known as a home equity conversion mortgage for home purchase) is an attractive option for seniors, typically age 62 or older. Here are six reasons why you might choose to buy a home using a reverse mortgage. With a reverse mortgage, homeowners don’t have to make monthly mortgage payments, which can greatly ease the financial burden of seniors on fixed incomes, allowing them to maintain their standard of living without the stress of monthly mortgage payments. Reverse mortgages can help seniors conserve their cash reserves. Rather than using all of their savings or…