"Baby boomers are still moving to Arizona to retire, despite predictions they wouldn’t. Members of the huge demographic group have vowed they wouldn't spend their leisure years the way their parents did. But census data and new rankings show they are ending up in many of the same states, and some of the same neighborhoods. Arizona is behind only Florida for drawing the most retirees, according to a recent analysis of Census data. And five Valley cities made the list of top 10 metro areas drawing the most new residents who are in their 60s or older. But unlike prior generations focused on golf, the latest generation of retirees wants hiking, friendly neighbors and a good deal..."
"Wedged between an auto body shop and a shoddy apartment building in Downtown Oakland is a two-story Victorian home with red-trimmed windows and the trappings of what real estate agents call "character." It's got a red door and a brick chimney, a once-white picket fence, and a Monterey Pine tree "protected" by the city..."
"The University of Kentucky plans to buy 16 acres of offices and tobacco warehouses on Versailles Road in order to move its motor pool off campus. The $4.65 million deal to buy the G.F. Vaughan Tobacco Company headquarters at 1247 Versailles Road was approved Thursday by the finance committee of the UK Board of Trustees..."
"Warning: As you emerge from the SEPTA trolley tunnel at 40th Street into the bright light of day, you may feel momentarily disoriented. What was once a vast concrete plateau, crisscrossed by a tangle of trolley tracks, has been transformed over the last few months into a luxuriant expanse of meadow flowers, native shrubs and Princeton Elms. It's as if you had somehow slipped through a wormhole and arrived in an entirely different sector of the universe. Luckily, it's still located in West Philadelphia..."
"It's not just downtown Milwaukee that's seeing a boom in commercial real estate leases, sales and development, it's all of the city and suburbs. Not only that, all of Southeastern Wisconsin is firmly in boom mode today when it comes to commercial real estate activity. That's the good news from Deborah Tomczyk, shareholder and chair of the real estate department with the Milwaukee office of law firm Reinhart Boerner Van Deuren. And she's not the only real estate pro in the region who feels this way. The brokers doing business here agree: Milwaukee and its surrounding communities are in the middle of a commercial real estate expansion. And it's an expansion not set to slow anytime soon, they said..."
"The plan of buying an inexpensive unrestored house, spending money on fix-ups and then unloading the property at a premium while pocketing gains sure computes as a workable deal driven by hard work, upfront funds and a little bit of luck. The property location wouldn’t seem like a major factor. But think again..."
"Lack of new housing starts, particularly in duplex and multi-family, make it a good time for the small investor to enter the market. Multi-family permits are down 50 percent from last year with only 72 units permitted compared to 153 last year at this same time. Duplex permits are also down with over 42 units permitted compared to 64 in 2017. Small investors shouldn’t be concerned about a reported 5 percent Multiple Listing Service vacancy factor if they take precautions when making a purchase. Condos are always a good investment because they require little management for a first time investor. Let the home owners’ association do most of your work. Your job is to simply find a well-qualified tenant by having them complete an application that requires a Social Security number for a credit check and current employment..."
"One of metro Phoenix's largest single-family rental developers is opening three new Arizona communities in September and expanding into Florida. Phoenix-based NexMetro's new Valley Avilla rental developments look like small homes with backyards. They are located in Mesa, Goodyear and Phoenix. Once those are completed, the company will have nine single-story, unattached rental-home communities in the Valley. It has another eight of its Avilla rental home developments planned or under construction in metro Phoenix..."
"Dallas-Fort Worth and other finalists for Amazon’s second headquarters should expect an announcement from the company after the midterm elections, a top global site selector said Monday. John Boyd, principal of The Boyd Co. Inc. location consultants, said it’s increasingly looking like the company’s announcement will come after the midterm elections if the news doesn’t break elsewhere before it’s officially announced..."
"Deputy Tacoma Mayor Anders Ibsen passed his broker exam earlier this year and sent out a promotional email for his new real estate business in June. 'As a Certified Residential Appraiser and a City Councilmember, I understand residential markets and the public policies that influence them,' read part of the message, which was sent from Ibsen’s real-estate email address. His mentioning of his position on the City Council has gotten him into some trouble..."
"As the first of Hurricane Florence’s winds began to bluster through Wilmington on Thursday afternoon, Tim Milam remained in his home in Autumn Hall off Eastwood Road. The president of Coldwell Banker Sea Coast Advantage, one of the largest real estate firms in Southeastern North Carolina, Milam said his 19 offices throughout the Cape Fear region and beyond had closed Tuesday to allow employees to prepare for the storm. And while Hurricane Florence’s potential effects have put a halt to business for the time being, Milam said he doesn’t expect the area’s latest hurricane to have a major impact on home sales in the area, as long as there isn’t major damage..."
"With Hurricane Florence closing in on the Carolinas and Virginia this weekend, threatening storm surges and destructive winds of up to 130 mph, experts are warning that more than 750,000 homes are at risk of serious damage. Florence is set to bring with it widespread inland rainfall and flooding in addition to strong winds, with experts saying it could potentially be one of the most devastating storms to hit this part of the East Coast. Damages from the storm are forecast to cost as much as $170.2 billion, experts told CNBC..."
"For homeowners in the path of Hurricane Florence — or even outside of it — it’s likely too late to add appropriate storm insurance. Flood insurance policies require a 30-day waiting period while wind insurance typically comes with a 15-day one. Either way, with Florence set to hit the Carolina coasts later this week, the window has closed..."
"It's no secret that Northern Virginia is a frontrunner to land Amazon's massive second headquarters. And it's no secret that developer JBG Smith has plenty of projects in the Arlington area. What is a secret is where Amazon founder Jeff Bezos will actually put this second headquarters, but one report suggests that he may buy JBG Smith -- and that could have huge implications for Arlington County..."
How do you distinguish yourself from the crowd of agents? "I am a professional Realtor/broker. I have extensive experience in sales, and have strong knowledge of the real estate market. I have sold and listed many properties in many different areas. I have successfully listed and sold homes where my seller has profited much more than they first expected. My job is to find my clients a home they are completely satisfied with, for a price they are comfortable with. But I never stop there; I will guide them through the entire process and stay in contact with them for as long as they need. I build relationships with my clients, not just a database. My best interest is to make sure my clients are happy."
"Water Street Tampa on Thursday unveiled the "work" part of its live-work-play vision for Tampa with a pair of 19- and 20-story office towers — billed as downtown’s first such "trophy" office buildings in 26 years. Add in another 180,000 square feet of loft-style offices at Channelside Bay Plaza, soon to be renamed Sparkman Wharf, and the result will be about a million square feet of Class A office space coming on the market, though not all at once. The developer, Strategic Property Partners, says it has spoken to prospective tenants that could need a total of about 1.5 million square feet of space in either Sparkman Wharf or the 20-story tower. SPP is exchanging lease proposals with companies on about 500,000 square feet, split between the two projects..."
"Real estate professionals in the Pasadena area can learn a lot about crime prevention and keeping yourself and your clients safe, from two upcoming events that the Pasadena Foothills Association of Realtors, known locally as PFAR, is sponsoring this month. Next week, on Friday, September 14, the PFAR is hosting a Crime Prevention and Cybersecurity Livestream Event featuring crisis control expert Jeff Liberman and FBI Special Agent and cybersecurity expert Ron Manuel. They will talk about the threats that many real estate professionals face, and proven strategies to keep you and your colleagues safe in a high-risk profession..."
"Gibson Sotheby’s International Realty announced its surpassing of $1 billion in sales volume in the first seven months of 2018. According to MLSpin, the company achieved a $1.002 billion sales volume with an addition of $200 million in off-market sales between January 1 and July 31 this year, realizing the highest average sale price of the ranking top ten firms..."
"Overland Park is clearly booming with development, as tall cranes, bucket trucks and dumpsters fill the landscape from downtown to the south part of the city. But many who live near and drive by these projects every day wonder: Weren’t they supposed to be done by now? The short answer is yes. But as the Overland Park City Council is discovering, worker shortages and other construction challenges are delaying some key projects like Promontory, Market Lofts and Prairiefire. And other projects that have been on the drawing boards, like 115th and Nall, are also encountering hiccups. Here are five key projects that the City Council dealt with Monday night..."
"Of the Washington area homes that sold in July, 21 percent of them were off the market in two weeks or less, down from 43 percent during the same period last year. What is causing this slowdown? The number of homes for sale is on the rise. After declining nearly every month in 2016 and 2017, the Washington metro area has seen year-over-year gains in the number of homes for sale every month this year. Inventory was up 9 percent in July compared with a year ago..."
"Flower beds frame the front door of a freshly renovated mint-green home for sale on a quiet West Nashville street. New granite countertops, stainless steel appliances and wood flooring brighten the interior. But beyond its facade, the Leslie Avenue fix-and-flip venture near the trendy Nations neighborhood is anything but ordinary. California cryptocurrency firm Property Coin bought the property earlier this year and will devote sale profits to boosting the value of its brand of digital cash..."
"The competition at the lowest end of the market is fiercest. As buyers are priced out of San Francisco and Oakland they ask “what can I afford?” and the answer can be San Jose and Fremont. Buyers have to balance affordability with their commute. The longer your commute the Silicon Valley, the less expensive the home. We recently helped buyers with a new home in San Ramon because they could get much more house and they were willing to commute (Google bus)..."
"Real estate seller lead generator, offrs (offrs.com), commented today on a recently published NAR (National Association of REALTORS®) state-of-the-industry report which tracked a trending decline in agent income, adding that the statistics provided in the report also demonstrate a forward transition from traditional real estate practices to an era dominated by predictive lead generation for SMB agents and agent teams. 'We now stand at a point in the real estate timeline where, after 100 years, traditional real estate operations alone can no longer fuel the vehicle that’s propelling the industry forward,' says Jeff Brown, National Sales Director at offrs.com. While the NAR report also showed an increase in membership, further amplifying the competitive conditions in the marketspace, Mr. Brown doubled down on offrs’ core commitment to the individual agent. 'The now proven lead generation results that predictive solutions like offrs can infuse into small real estate operations is simply the only path forward for hard-working agents fighting against data-rich, churn-and-burn real estate factories like Zillow.'”
"Between June 2017 and May 2018, 4,059 homes were sold in Central Austin, up from 3,947 between June 2016 and May 2017, according to Austin Board of Realtors data from the following ZIP codes: 78701, 78702, 78703, 78704, 78705, 78722, 78723, 78731, 78751, 78756 and 78757. The 78722 ZIP code saw the highest increase in the percentage of homes sold during that time period. Meanwhile, the 78756 ZIP code saw the highest percentage increase in average home sales price..."
"It’s increasingly difficult for commercial real estate investors to earn strong returns in big cities such as New York, Los Angeles and San Francisco. That’s because commercial real estate values in these markets have hit all-time highs while cap rates are as tight as they’ve ever been. Because of that, investors are increasingly turning to so-called secondary markets for opportunities. And that’s good news for the Midwest, which is home to many of the secondary markets that are most attractive to investors. New York-based Trepp, which provides a database securitized mortgages, recently ranked the top 20 secondary markets for commercial real estate investors. Not surprisingly, the Midwest had a solid showing on this list..."
"Environmentalists have lost their latest legal bid to block a major redevelopment project at a Lake Tahoe-area ski resort that hosted the 1960 Winter Olympics. Placer County Superior Court Judge Michael W. Jones rejected Sierra Watch's claims this week that the expansion of the Village at Squaw Valley would violate the California Environmental Quality Act..."
"Move over San Francisco — the Big Apple tops Silicon Valley as most expensive place to live in the United States, a new study shows. Per square foot, real estate in Manhattan is the most expensive in the United States, with the average property in the borough eclipsing all other locals. Based on that metric, some city properties even top $10,000, according to a report published Thursday by real estate and data analytics firm NeighborhoodX..."
"A Kansas City, Missouri-based company plans to buy 156 acres in Jacksonville to build three million square feet of industrial space. VanTrust Real Estate LLC expects to break ground next month and finish construction of the first building in September 2019. The company expects to build three million square feet in three to six buildings at a Jacksonville industrial park..."
"A billion dollars is a steep price to pay for a whole lot of nothing – even if the nothing in question happens to be a prime piece of open land with commanding views over the mansion-studded hills of Bel-Air and Los Angeles. Still, a billion dollars is what the owners of the 157 acres perched between Benedict and Franklin canyons say they want, and they are not in the mood for discounts. At least in theory, the listing – known variously as the Vineyard or the Mountain – is an invitation to the ultimate gazillionaire to build his or her palace of dreams above a city famously built on them..."
"After a stretch of roaring price hikes, Las Vegas’ housing market seems to be tapping the brakes. Price growth is cooling down, sales have slowed, and the industry’s biggest trade group in town is dialing back expectations that prices will reach their pre-recession peak this year. By all indications, Las Vegas is still a seller’s market and not undergoing a wrenching change, and prices continue to rise faster than the national average. But collectively, the shifts could give buyers some relief. Southern Nevada home prices have been rising at one of the fastest clips in the country this year amid low availability and strong demand. Things have been so heated that Fitch Ratings in June deemed Las Vegas the most overvalued market in the nation..."
"Drury Southwest Inc. plans a 242-room hotel at the site of the former Kansas City Public Library and Board of Education building in Downtown. Located at 1211 McGee St., the project would include 5,000 square feet of meeting space and a 176-space parking garage, according to a documents filed with the Tax Increment Financing Commission of Kansas City. Kansas City Public Schools owns the building, which has been vacant since the district moved the Board of Education offices to its current location, 2901 Troost Ave. The requested TIF plan would cover demolition of the 11-story building and construction of the hotel..."
"Homes are sitting unsold for weeks. Bidding wars are becoming less common. More sellers are even dropping their asking price to attract buyers. For the first time in four years, the Seattle-area real-estate market is finally starting to trend in a positive direction for buyers, though only after many were already priced out following years of punishing price hikes..."
"An increasing number of technology companies are turning their eyes toward the booming San Antonio real estate market. REX Real Estate, an artificial intelligence- and big data-powered real estate brokerage, is gearing up for an Aug. 13 launch. The company is one of several recently that aim to take the real estate agent out of the home buying and selling process to cut down on costs..."
"As Massachusetts legislators approached the end of their official session July 31, they faced a deadline for approving a series of bills related to budget moves and regulatory changes. Among the most contentious was a proposal to enact new, higher taxes on short-term home rental services including Airbnb. In the final version approved by the state House and Senate, Massachusetts would extend its 5.7 percent hotel tax to short-term rentals, as well as give local officials the option to levy their own tax of up to 6 percent, or as high as 9 percent for property owners renting out two or more units in the same community. The bill also would make the state the first in the nation to establish a registry of short-term rentals..."
"Another infill townhouse development on the edge of uptown is underway that will bring 19 units to Charlotte's Belmont neighborhood next summer. Grading and site work at the project, between Seigle Avenue and Harrill Street, began in mid-July, with pre-sales of the townhouses officially launching Aug. 9 during an event from 4-6 p.m. at nearby Catawba Brewing Co. MY Real Estate Advisors and CapRock, both based in Charlotte, are developing the project, called CityScape Towns. Vertical construction should start at the site in October..."
"Detroit has the second-most affordable housing market in the United States, according to a study by Quicken Loans. The study looked at closing costs, real estate taxes, homeowners insurance and mortgage rates. Researchers then compared total housing costs to median income for cities in America with a population greater than 200,000..."
"In the Austin home market, it’s a tale of two trends. Homes for sale are spending longer on the market, but fewer homes are fetching prices above the list price, according to new data from real estate brokerage Redfin. One real estate agent says these two trends are a sign of much needed stability in the local market..."
"Homes that sold in Central Ohio last month spent an average of just 23 days on the market, according to Columbus Realtors. That's yet another record broken in the local housing scene. 'With more buyers than sellers, many homes are selling quickly in today’s market,' Columbus Realtors President Sara Walsh said in the report..."
"Central Pennsylvania is home to some of the top-producing real estate agents and teams in Pennsylvania. In the latest 'America's Best Real Estate Agents' list from Colorado-based Real Trends — which lists the top agents in every state and metropolitan area — five of the top 10 agents and five of the top 10 real estate teams in the commonwealth are in Central Pennsylvania..."
"Facebook continues to expand its VR ambitions in the Pacific Northwest. The company has been quietly growing its footprint 16 miles East of Seattle, in Microsoft’s backyard. A new analysis by real estate resource BuildZoom sheds additional light on the Menlo Park-based company’s efforts to build a satellite virtual reality HQ in and around Seattle. Over the last three years, Facebook has spent $106 million on construction and development permits for Oculus offices in Redmond..."
"It's generally agreed, especially among people searching for a home, that Sacramento is no longer the modest and moderately priced valley town it once was. Now comes further evidence: Authors of a new study say the capital region has the 13th highest share of million-dollar homes in the country..."
"Ted Kasper of The Carson Group - AustinRealEstate.com, 3103 Bee Caves Road, Austin, Texas, has recently completed training and is now a Certified Real Estate Divorce Specialist. Real Estate Divorce Specialists are real estate professionals specializing in divorcing clients. They are trained in the legal and tax aspects of the divorce process as it relates to real estate. They learn obscure legal rulings, regulations and tax implications. This specific training allows them to help their divorcing clients take advantage of tax laws that are specific to selling a house in the divorce..."
"Some might say we've been there for awhile, but a new Forbes.com article says Asheville's real estate boom is actually just beginning. 'Boom markets don't come along very often in real estate,' says Forbes contributor Ingo Winzer, president of Local Market Monitor, a residential real estate 'forecast company' that provides data and analysis to investors. 'There haven't been any since the big crash of 2008, and before that, they were usually limited to one or two places at a time, like Houston in the mid-1980s, New York later that decade or Southern California in the early 1990s...'"
"Under California's Proposition 13, property tax increases are limited, so over time, a home could be worth a lot more than the value it is taxed on. The taxed value doesn't reflect the current value until the home is sold. Fresno Realtor Don Scordino believe that tax rule has kept some people 55 and older from selling and buying another home..."
"It is a seller’s market, undeniably. The supply of homes for sale is low, demand is high, and now prices are heating up even more. But sellers today see more reasons to stay put than to profit. Home prices jumped 7.1 percent annually in May, according to a new report from CoreLogic. That's the biggest jump in four years. Annual price gains had been shrinking slightly, as mortgage rates rose, but apparently higher rates are not hurting demand. They are, however, exacerbating the already critical supply shortage...."
"Downtown Milwaukee's newest housing high-rise has started moving in its first residents — and they're enjoying some amazing views. 7Seventy7 is a 35-story tower with 310 high-end apartments on 25 floors, a 10-story parking garage and ground-floor retail space at 777 N. Van Buren St. The $100 million project, developed by Northwestern Mutual Life Insurance Co., is nearly done after just over two years of construction..."
"The average home sales price in May was $192,883, a 14 percent increase from $169,540 a year ago, according to real estate information company Chandler Reports, chandlerreports.com. The number of units sold was up slightly in May, with 1,779 sales recorded for the month, compared with 1,770 last year..."
"Arlington has one of the highest median rent prices in the entire country, yet the county still ranks among the top places people can afford to live alone. That’s according to a new study of 100 of the nation’s largest cities and counties by the financial data research firm SmartAsset. The company ranked Arlington 17th among that group for places where renters have the financial wherewithal live alone, largely because of the robust median income level of the county’s workers..."
"A large riverfront development site in Milwaukee's new Harbor District has been sold to a wealthy San Diego investor. The 2.3-acre parcel, which overlooks the Kinnickinnic River at 1958-1970 S. 1st., was sold to Commercial Heat Treating Holdings LLC for $1.1 million, according to state real estate records posted Wednesday..."
"It was announced last week that the city would be on the receiving end of $17.6 million for “re-nourishment” of the beach from Rudee Inlet north to 89th Street. Although the funding has already been revealed via an emailed announcement from U.S. Sens. Mark Warner and Tim Kaine as part of the Army Corps of Engineers “work plan,” actual work isn’t expected to start until next year..."