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The week in industry hires and promotions: February 20-24, 2017

7 hours 23 min ago

Who got hired or promoted this week? Here's our weekly rundown, in chronological order ...

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Why Snapchat's unprecedented real estate strategy in Venice could be tech's new standard - Los Angeles Times

9 hours 16 min ago


Los Angeles Times

Why Snapchat's unprecedented real estate strategy in Venice could be tech's new standard
Los Angeles Times
A tech start-up based in Los Angeles rather than Silicon Valley. A mobile app that built its appeal by deleting photos and messages. Vertical video in a widescreen world. Snapchat, the popular photo and video messaging app, has broken the mold in many ...

Categories: Europe

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Real estate market recap, February 20-24, 2017

9 hours 22 min ago

Here's what happened this week in the real estate market ...

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The week in real estate industry deals: February 20-24

10 hours 42 min ago

While real estate agents chase leads and close deals on houses, there's another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships. We'll be recapping every week's noteworthy deals that didn't make it into print (and some that did) for your perusal. Here are this week's ...

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Weichert winners named in Middlesex, Monmouth, Ocean counties - MyCentralJersey.com

15 hours 19 min ago


MyCentralJersey.com

Weichert winners named in Middlesex, Monmouth, Ocean counties
MyCentralJersey.com
Invite these top neighborhood specialists in to learn about the real estate services that Weichert, Realtors has to offer. To find your local office, visit www.weichert.com or call 1-800-USA-SOLD. Since 1969, Weichert, Realtors has grown from a single ...

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Categories: USA

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Commercial Real Estate Sector on Solid Footing

15 hours 21 min ago

Commercial real estate is on solid footing, with the National Association of REALTORS®’ (NAR) quarterly commercial forecast projecting continued stability in 2017. National vacancy rates in the office sector are set to decrease to 12.1 percent, while those in the industrial space and retail sectors are set to decrease to 7.1 percent and 11.2 percent, in order. The national vacancy rate in the multifamily sector is set to stand at 6.5 percent.

“Last year was the 11th year in a row of subpar GDP growth, but renewed corporate optimism leading to a focus on investment and a desperately needed boost in residential construction should pave the way for modest expansion this year of around 2.4 percent,” says Lawrence Yun, NAR chief economist. “Steady hiring and low local unemployment levels are finally supporting higher wages and increased spending, which in turn bodes well for sustained demand for all commercial property types.”

The apartment sector, according to the forecast, will continue as a top performer, as ongoing affordability and supply challenges are stalling the homeownership rate.

“Especially in the costliest metro areas, higher home prices and mortgage rates are squeezing the budget for many renters looking to buy and inevitably forcing them to sign a lease for at least another year,” Yun says.

Commercial property prices, especially those in Class A assets in larger markets, surpassed pre-crisis levels in 2016 because of aggressive bidding and lower inventory—but, according to Yun, the market could see a minor price correction as the Federal Reserve moves on the key interest rate throughout the year.

“Similar to the biggest ongoing challenges in the residential market, supply and demand imbalances continue to put upward pressure on commercial property prices as investors search for yield in smaller markets,” says Yun. “REALTORS® are increasingly citing inventory shortages as their top concern as the pace of new projects slows in large cities and middle-tier and smaller markets see a growing appetite for space.

“The positive direction for commercial real estate this year will be guided by the steadily expanding U.S. economy, which has legs to grow and continues to be one of the top economic performers and safest bets in the world,” Yun says.

For more information, please visit www.nar.realtor.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Commercial Real Estate Sector on Solid Footing appeared first on RISMedia.

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Mortgage Rates Show Minimal Movement

15 hours 21 min ago

Mortgage rates showed minimal movement this week, marking the fourth week in a row of negligible change, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 30-year fixed-rate mortgage averaged 4.16 percent with an 0.5 point, a one point increase from 4.15 percent the previous week.

“In a short week following Presidents Day, the 10-year Treasury yield fell about eight basis points; however, the 30-year mortgage rate rose one basis point to 4.16 percent,” says Sean Becketti, Freddie Mac chief economist. “This week’s survey once again displays the disconnect between mortgage rates and Treasury yields—a result of continued uncertainty.”

According to the survey, the 15-year fixed-rate mortgage averaged 3.37 percent with an 0.5 point, a two-point increase from 3.35 percent the previous week. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.16 percent with an 0.4 point, a two-point decrease from 3.18 percent the previous week.

Source: Freddie Mac

For the latest real estate news and trends, bookmark RISMedia.com.

The post Mortgage Rates Show Minimal Movement appeared first on RISMedia.

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Alex Wang pulls the curtain on the listing agent life through video

Fri, 2017-02-24 20:31

Alex Wang has now taken his "real world" approach to Snapchat and applied it to a new series of videos that aim to give a peek into the life of a listing agent. ...

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Sweden, Nation of Open Arms, Debates Implications of Immigration - New York Times

Fri, 2017-02-24 19:38


New York Times

Sweden, Nation of Open Arms, Debates Implications of Immigration
New York Times
“Sweden has been a top recipient of asylum seekers per capita in Europe, priding itself on a humanitarian approach to immigration,” said Daniel Schatz, a visiting scholar at Columbia University's European Institute. “During the Iraq war, Sodertalje, a ...

Categories: Europe

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Austin and San Antonio MLSs explore consolidation

Fri, 2017-02-24 17:30

No rings have been exchanged yet, but two Texas MLSs are considering tying the knot ...

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Kennedy Wilson Europe Real Estate PLC to Issue Dividend of GBX 12 (KWE) - BBNS

Fri, 2017-02-24 16:00


BBNS

Kennedy Wilson Europe Real Estate PLC to Issue Dividend of GBX 12 (KWE)
BBNS
Kennedy Wilson Europe Real Estate PLC logo Kennedy Wilson Europe Real Estate PLC (LON:KWE) declared a dividend on Friday, February 24th. Investors of record on Thursday, March 9th will be paid a dividend of GBX 12 ($0.15) per share on Friday, ...
Kennedy Wilson Europe Real Estate (LON:KWE) Analyst Target ...UK Market News

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Categories: Europe

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Crazy sh*t podcast Episode 9: Where there’s smoke …

Fri, 2017-02-24 15:28

On the latest episode of Leigh Brown's podcast that explores the wild and weird things that can happen in real estate, home inspector Wally Conway shares one of the weirdest stories in his 30,000 inspections: the time a home caught on fire ...

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Why homesellers demand better than a shaky real estate labyrinth

Fri, 2017-02-24 12:15

Waiting in a grocery line a few weeks back, I stood behind a woman as she wrote a check. Scary. In the wire fraud age, consider the risk of giving up your name, address, bank routing and account numbers on a piece of paper passed around like a sex worker in the Patpong red light district of Bangkok. ...

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The ‘internet of you’ and what it means for the future

Fri, 2017-02-24 12:14

"Every 20 years or so, our lives are transformed by a powerful technology" that moves from the hands of a few to the hands of many. Adrienne Meisels, CEO and founder at myPlanit, talks about what to expect with the next big shift ...

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Former Trump Campaign Manager Paul Manafort Took Out $19 Million in Puzzling Real Estate Loans - The Intercept

Fri, 2017-02-24 11:48


The Intercept

Former Trump Campaign Manager Paul Manafort Took Out $19 Million in Puzzling Real Estate Loans
The Intercept
The raw facts stand out for their strangeness. Since 2012, Manafort has taken out seven home equity loans worth approximately $19.2 million on three separate New York-area properties he owns through holding companies registered to him and his son-in ...

Categories: USA

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Engel & Völkers North America partners with NAGLREP

Fri, 2017-02-24 10:43

Engel & Völkers North America is partnering with the National Association of Gay and Lesbian Real Estate Professionals to educate real estate professionals about major LGBT insights and trends, as well as connect professionals throughout the industry to advocate for LGBT rights ...

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Nicole Rideout, rising star at Gibson Sotheby’s, on what she got from Realogy’s Ascend

Fri, 2017-02-24 10:09

Gibson Sotheby's International Realty's director Nicole Rideout remembers one all-nighter she pulled with a pot of coffee ...

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Realogy Holdings Corp. turned higher profit in 2016

Fri, 2017-02-24 08:15

Realogy Holdings Corp. posted a profit of $213 million in 2016, up by 16 percent from the previous year -- though the company's results reflected the "operating challenges" of strong competition for sales agents and soft demand for pricier homes, said Realogy CEO Richard A. Smith in a statement. ...

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StepStone Closes Fund III, Plans $1B+ in Investments - Commercial Property Executive

Fri, 2017-02-24 07:08


Commercial Property Executive

StepStone Closes Fund III, Plans $1B+ in Investments
Commercial Property Executive
New York—StepStone Real Estate has closed StepStone Real Estate Partners III with $700 million in commitments that together with co-investment capital will give the fund more than $1.1 billion to invest in the U.S. and Europe. Founded by partners Jeff ...

Categories: Europe

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Virtual tours or video: How do you decide?

Fri, 2017-02-24 06:00

In this week’s video, Peter Lorimer of PLG Estates discusses the merits of video over virtual tours ...

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