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Real estate briefs: NFK closes $27M sale of Garden Grove industrial complex - OCRegister

Sun, 2017-08-06 09:32


OCRegister

Real estate briefs: NFK closes $27M sale of Garden Grove industrial complex
OCRegister
NKF has closed the sale of the Monarch Industrial, a multi-tenant, 276,585-square-foot warehouse facility in Garden Grove, for $27 million. The property is fully occupied by four tenants including Virtu USA, New Mode Sportswear, V Factory and Riviera ...

Categories: USA

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Manatee County real estate transactions Aug. 7, 2017 - Bradenton Herald

Sun, 2017-08-06 07:47


Bradenton Herald

Manatee County real estate transactions Aug. 7, 2017
Bradenton Herald
$1,500,000 Bigane Joseph F Iii, Lucia Ellis Uihlein Trust, Northern Trust Company, Uihlein Lucia Ellis, Uihlein Longboat Key Family Trust to Langley Charlotta Z, Langley Randall B; Rauch; July 26. $1,170,000 Dickey David, Dickey Lydia to Joyce David R, ...

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About a new pest: the bagrada bug - Santa Fe New Mexican

Sun, 2017-08-06 07:10


About a new pest: the bagrada bug
Santa Fe New Mexican
Currently there are no effective biological controls in the USA. Birds find their taste to be unpleasant. The adult bugs usually escape pesticides by flying away only to return later. Until there are approved pesticides, home vegetable growers need to ...

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The Surprising Top 10 List Of Best Places To Retire Abroad From Live And Invest Overseas - Forbes

Sun, 2017-08-06 07:01


Forbes

The Surprising Top 10 List Of Best Places To Retire Abroad From Live And Invest Overseas
Forbes
Live and Invest Overseas' Top 10 list had a seismic shakeup compared to 2016 for two reasons: The strong U.S. dollar has made Europe more affordable (though big cities like Paris, London and Rome are still pricey). ... retirees: The Golden Visa program ...

Categories: Europe

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Deloitte chooses Yardi for Europe fund administration - Real Estate Investment Times (registration)

Sun, 2017-08-06 07:00


Deloitte chooses Yardi for Europe fund administration
Real Estate Investment Times (registration)
Deloitte Luxembourg has selected Yardi Voyager, the cloud-based real estate platform, for its real estate fund administration business in Europe. The accounting and property management solution will offer Deloitte's client base an integrated and end-to ...

Categories: Europe

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Real Estate Transactions for Sunday, August 6, 2017 - Charleston Post Courier

Sat, 2017-08-05 23:04


Charleston Post Courier

Real Estate Transactions for Sunday, August 6, 2017
Charleston Post Courier
Maersk Services USA Inc. sold 39 Fairway Oaks Lane to Mark Lee and Rebecca House Thompson for $375,000. Maersk Services USA Inc. sold 5 Fairway Oaks Lane to Monai P. and Melissa P. Dhabliwala for $850,000. Bruce D. Lindsey sold 11 25th Ave. to ...

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Categories: USA

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'I Cannot Breathe.' Heat Wave Dubbed 'Lucifer' Kills at Least 2 People in Europe - TIME

Sat, 2017-08-05 14:46


TIME

'I Cannot Breathe.' Heat Wave Dubbed 'Lucifer' Kills at Least 2 People in Europe
TIME
"It is just too much," real estate agent Sasa Jovanovic, 52, said during an early morning walk in Serbia's capital, Belgrade, where the temperature was forecast to hit 39 degrees Celsius (102.2 degrees Fahrenheit) Saturday. "Sometimes it feels as if I ...
Heat wave stifles Southern EuropeThe Boston Globe
'It is just too much': Lucifer heat wave stifles parts of EuropeCBC.ca

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Categories: Europe

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Ongoing 'Lucifer' heat wave stifles large swath of Europe - ABC News

Sat, 2017-08-05 11:51


Ongoing 'Lucifer' heat wave stifles large swath of Europe
ABC News
A relentless heat wave that gripped parts of Europe this week has sent temperatures soaring to record highs for several days, causing at least two deaths and prompting authorities to issue severe weather warnings. "It is just too much," real estate ...
'Lucifer' Heat Wave Strikes Parts of Europe, Killing At Least 2The Weather Channel

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Categories: Europe

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Intense Heat Wave Sends Temperatures Soaring Across Europe - New York Times

Sat, 2017-08-05 10:15


New York Times

Intense Heat Wave Sends Temperatures Soaring Across Europe
New York Times
BELGRADE, Serbia — A relentless heat wave that gripped parts of Europe this week has sent temperatures soaring to record highs for several days, causing at least two deaths and prompting European authorities to issue weather alerts. Extreme heat in ...

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REcoin Launches First Ever Cryptocurrency Backed by Real Estate, With ICO Campaign - Bitcoinist

Sat, 2017-08-05 10:14


Bitcoinist

REcoin Launches First Ever Cryptocurrency Backed by Real Estate, With ICO Campaign
Bitcoinist
REcoin cryptocurrency is designed for a broad range of financial transactions and is backed by the real estate held by the company's 101REcoin Trust. The trust owns real estate in developed nations economies such as the USA, Canada, Japan, Great ...

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'Lucifer' heat wave keeps parts of Europe on red alert - Los Angeles Times

Sat, 2017-08-05 05:55


Los Angeles Times

'Lucifer' heat wave keeps parts of Europe on red alert
Los Angeles Times
“It is just too much,” said 52-year-old real estate agent Sasa Jovanovic, from Belgrade, the Serbian capital. “Sometimes it feels as if I cannot breathe.” In the Alpine nation of Slovenia, authorities reported earlier this week the first “tropical ...
'Lucifer' Heat Wave Strikes Parts of Europe, Killing At Least 2The Weather Channel
Heat wave affects southern Europe, Turkey, gives a taste of the futureDaily Sabah

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Categories: Europe

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'Lucifer' heat wave keeps parts of Europe in red alert - Minneapolis Star Tribune

Sat, 2017-08-05 05:17


'Lucifer' heat wave keeps parts of Europe in red alert
Minneapolis Star Tribune
"It is just too much," said 52-year-old real estate agent Sasa Jovanovic, from Belgrade, the Serbian capital. "Sometimes it feels as if I cannot breathe." In the Alpine nation of Slovenia, authorities reported earlier this week the first-ever "tropical ...

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Categories: Europe

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Sustainability: How NAR Is Responding to Growing Interest

Fri, 2017-08-04 23:04

When you hear the term “sustainable real estate,” what topics come to mind? Perhaps your first thoughts are environmentally-friendly properties, or creating walkable communities, or using fewer resources in your real estate practice. Each of these topics, and many more, fall under the umbrella of sustainability.

Regardless of how you think about sustainability as a broker, we all need to recognize that it plays an increasingly important role in real estate, especially as certain aspects of sustainability are becoming mainstream, moving beyond a “nice-to-have” and becoming a top priority for consumers’ life at home.

NAR’s Sustainability Program

For decades, the National Association of REALTORS® (NAR) has supported sustainability in numerous ways. Last year, in response to strong member interest, our efforts were centralized and expanded into an official NAR Sustainability Program. This program serves as a hub to support member resources and a platform for leadership in the real estate industry, with coordination and outreach to allied trade associations and organizations.

Among the new initiatives launched under the program is a special Sustainability Summit, hosted by NAR, and including representatives from other cooperating industries such as the National Association of Home Builders (NAHB), the Urban Land Institute (ULI), and the Council of MLS (CMLS). The first summit, held in July, offered an excellent forum to discuss where sustainability and real estate overlap, and to explore collaboration among industry groups for the future of our industry.

Member Research

Another new initiative sponsored by NAR’s Sustainability Program is an annual survey of members. Some of the noteworthy facts drawn from NAR’s benchmark REALTORS® and Sustainability Report include:

  • A significant majority (60 percent) of agents surveyed agreed that consumers are somewhat or very interested in sustainability.
  • Eighty percent of respondents said that solar panels are available in their market, and 42 percent said solar panels increased a property’s perceived value.
  • Seventy-one percent said that energy efficiency promotion in listings was very or somewhat valuable.
  • Forty-three percent of respondents report that their MLS has green data fields.

Additional Resources

With each passing year, it becomes more and more apparent property buyers and sellers place a priority on the benefits provided by sustainability. NAR’s Sustainability Program pulls together extensive resources—including publications, research, advocacy, grants, and links to existing NAR programs—all designed to help you respond to growing consumer and professional interest, and to position your brokerage for success as market shifts continue to urge adaptation. To learn more and access these additional resources, visit www.nar.realtor/sustainability.

Steps to Take

There are many things you can do to raise the bar on sustainability within your brokerage, including:

Help your listings achieve certification. In particular, take a look at Pearl Certification, a company recently selected for NAR’s 2017 REach® technology accelerator program. Pearl’s third-party verification system for new and existing homes provides a market edge through a property certification by awarding up to 1,000 points for a property’s performance across four key dimensions (insulation, heating/cooling system, ENERGY STAR appliances, and smart thermostats).

Support efforts to green your MLS. Buyers, sellers and appraisers all rely on a green MLS to help ensure fair value for sustainable, healthy, and energy-efficient homes. With new standards, many MLSs have adopted green data fields. If yours is one of them, make sure your agents are using such fields to convey the value of energy-efficient or high-performance home features. When agents use the fields when listing a property, interested buyers will be able to find your listings with these marketable assets—and your sellers get top dollar for these features. To learn more, visit greenthemls.org.

Help your agents gain information, confidence. Nearly 40 percent of agents surveyed by NAR expressed at least some discomfort with answering clients’ questions about property performance. Closing the gap can be as simple as sharing resources or facilitating discussions at your sales meetings.

The top three issues and considerations cited by agents in NAR’s sustainability survey are: 1) understanding lending options for energy upgrades or solar; 2) improving the energy efficiency of existing housing stock; and 3) lack of MLS data about property performance and/or solar install.

You may also want to support your agents in earning NAR’s Green designation, which provides comprehensive training across each of these, and many other sustainability topics. Learn more at greenresourcecouncil.org.

Sustainability is about adaptability, viability, resiliency, and resource efficiency. These words can describe elements of any market. Overall, becoming aware of the current and upcoming integration of sustainability in real estate positions brokers as leaders in industry shifts, prepared to engage proactively in new market and business opportunities.

Bob Goldberg is CEO of the National Association of REALTORS®.

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

The post Sustainability: How NAR Is Responding to Growing Interest appeared first on RISMedia.

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Commentary: Ready for Tougher Underwriting and to Pay More for Your Mortgage?

Fri, 2017-08-04 23:03

There are some new rules coming down the pike for banks that will drastically alter the lending landscape. What are they, and should you care?

I’m amazed that there has not been more talk regarding a big change in banking regulation. There are new regulations being phased in that will impact every borrower in a big way.

What is the new rule? The CFPB issued a new HMDA (Home Mortgage Disclosure Act) rule in October 2015, which vastly expands the data points and fields that are required to be collected and reported. The new data fields include very specific information about the borrower and the property. In a nutshell, the new items include race, gender, age, credit scores, cost of the loan, etc.

The collection of all these data begin in 2018, with the first reports coming out 2019. With the new rules, you will be able to find out at the bank level what loans were made based on age, race, gender, etc., in any given year.

Shouldn’t this be great since the primary purposes of the Home Mortgage Disclosure Act (HMDA) are to help authorities monitor discriminatory and predatory lending practices, as well as to ensure government resources are allocated properly to enforcement? Like many government plans, on the surface, yes—but the issues lurk in the details.

Why should a bank care? The Denver Post ran an article, “Qualifying for a Mortgage Is Getting Easier, but Minority Applicants Still Face Higher Denial Rates.” (Specific banks were not named, since the data was analyzed at a city level.) Under the new rules, let’s say for example there is a bank in a high-end resort town that does 100 loans a year (each loan is over $2 million). The bank gets 10 applicants from people under 30; of those, only two qualify for a loan. The statistics look terrible. I can see the headlines: “Bank X Discriminates Against Young Borrowers Since 80 Percent of All Applications Were Turned Down.” You can substitute the word “young” for a specific minority, gender, etc. This is definitely not a time where the bank wants to be in the news! You can quickly see where this is going to be problematic for lenders.

Why should you care? 2019 will also be the year of the lawsuits for banks. It will not take long for attorneys to begin filing suits based on gender, age, credit score, minority status, zip code, etc. Shouldn’t lawsuits help ensure banks are lending fairly? In theory, yes—but in practice, the results of these changes will definitely not help consumers.

Here are three side effects of the new regulation for banks. All three will negatively impact consumers.

  1. Lending costs will increase. As banks’ risk (lawsuits, etc.) to lend increases, so will the costs on consumers. Banks will basically build in perceived risks/costs associated with litigation for all borrowers. The banks will not simply absorb the new costs—someone will have to pay! This will be a pass-through cost that every borrower will now pay with increased lending fees (or higher rates).
  1. Compliance costs will increase. Every lender will have to update their systems to collect more data. (The HMDA rules have been in effect since 1975, so a number of programs/systems/processes will have to be updated.) This all costs money—that must come from somewhere—and will further increase costs to borrowers.
  1. Underwriting will change. The new rules will substantially alter underwriting. Banks will increase the requirements on all borrowers. To avoid litigation, standards will be increased, along with automated underwriting. If a borrower doesn’t fit the box perfectly, they will not get a loan. Banks will work to take any remnants of the human touch out of the process, since this will provide cover from a wave of lawsuits. For example, let’s say borrower X was a little low on their credit score due to extenuating circumstances, but had $2 million sitting in a bank account for reserves. Under the old rules, a bank would likely make an exception; unfortunately, under the new rules, a borrower would likely get rejected, since this information would surely be used against a bank. The headlines would read “Bank Approved Loans for Chickens With Low Credit Scores, but for Pigs the Average Credit Score to Get a Loan Was X Percent Higher.” The data can easily be parsed to make a case that a bank has a history of discriminating against pigs, since they require higher credit score.

With all the new data points, it will be very easy to distort the data in whatever snapshot works for the situation. This will be especially true for smaller banks/credit unions/lenders that don’t have as much volume as a billion-dollar bank. Though the intent of the rule is to help make lending more accessible to all borrowers, the actual real-life implications will be just the opposite, as costs will increase for all borrowers and underwriting requirements will also become more stringent.

The new rules remind me of another recent piece of legislation that increased the minimum wage with the intent to increase the living wage of all workers. The impact was the opposite of the law’s intent, leading to less hours for workers and an overall decline in wages. The new HMDA rule will have a similar result and, ultimately, lead to more conservative lending that will further leave behind the groups the law was intended to help.

Glen Weinberg is COO of Fairview Commercial Lending, serving Colorado, Florida and Georgia.

This article is intended for informational purposes only and should not be construed as professional advice. The opinions expressed in this article are those of the author and do not necessarily reflect the position of RISMedia.

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

The post Commentary: Ready for Tougher Underwriting and to Pay More for Your Mortgage? appeared first on RISMedia.

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SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (EURE.L) AO Seeing a Consistent Downtrend - Davidson Register

Fri, 2017-08-04 18:42


AppsforPCdaily

SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (EURE.L) AO Seeing a Consistent Downtrend
Davidson Register
SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (EURE.L) market momentum is building as the Awesome Oscillator (AO) is showing a down-trend in the name over the past 5 bars. Awesome Oscillator shows the difference in between the 5 SMA and ...
SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (EURL.L) Sees Awesome Oscillator Trending LowerFinancial News Review

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Categories: Europe

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Partners Trust reportedly crafting deal to sell to Pacific Union

Fri, 2017-08-04 18:12

Los Angeles-based real estate firm Partners Trust is putting together a purported deal to sell at least a partial stake of the company to San Francisco-based Pacific Union International, the 8th largest brokerage in the country by sales volume, Inman has learned ...

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Special Report: Do you have what it takes to be a top buyer’s agent?

Fri, 2017-08-04 16:57

Giving clients the best shot at their dream home requires a mix of creative thinking, doggedness, consistent communication and not taking “no” for an answer; and becoming the go-to buyer’s agent in your market means rolling up your sleeves and being a patient warrior through days, weeks and months of an “exhausting escapade." At times, buyer’s agents’ biggest problem will be their own clients, who may come to an agent “information-rich” but in denial about this market in which sellers hold all the power ...

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Should the Fed preempt a potentially overheating job market?

Fri, 2017-08-04 15:57

July payrolls released this morning grew by 209,000, enough to stop cold a decline in mortgage and other long-term rates and roughly double the monthly gain, which would stabilize the unemployment rate at today’s 4.3 percent -- either stop hiring, or add more people to the work force, or the rate of unemployment will continue to fall, presumably below zero, and with who-knows-what consequences for wages and inflation ...

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Mo’ Mentions Mo’ Problems – Harnessing the Conversation on Social Media

Fri, 2017-08-04 15:22

The social media landscape is constantly changing with new platforms, trends, influencers ... and even mo’ mentions. Learn the keys to harnessing that conversation to your advantage, whether you’re a large brand or a local real estate agent ...

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NYC Zillow boycott grows, but cracks begin to show

Fri, 2017-08-04 15:10

At least three more New York City brokerages have joined an industry boycott of Zillow Group -- though some agents at firms participating in the revolt are apparently breaking ranks ...

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