Real Estate News – California Sunset Team http://californiasunsetteam.com/ Thu, 23 Sep 2021 21:54:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://californiasunsetteam.com/wp-content/uploads/2021/09/californiasunsetteam-icon-120x120.jpg Real Estate News – California Sunset Team http://californiasunsetteam.com/ 32 32 PRESS RELEASE: The Real Estate Commission organizes a free webinar on condominium associations https://californiasunsetteam.com/press-release-the-real-estate-commission-organizes-a-free-webinar-on-condominium-associations/ https://californiasunsetteam.com/press-release-the-real-estate-commission-organizes-a-free-webinar-on-condominium-associations/#respond Thu, 23 Sep 2021 20:39:00 +0000 https://californiasunsetteam.com/press-release-the-real-estate-commission-organizes-a-free-webinar-on-condominium-associations/ DIRECTORATE OF TRADE AND CONSUMPTION DIVISION OF PROFESSIONAL AND PROFESSIONAL LICENSES DAVID Y. IGE GOVERNOR CATHERINE P. AWAKUNI COL??NOT DIRECTOR AHLANI K. QUIOGUE LICENSE ADMINISTRATOR FOR IMMEDIATE RELEASE September 23, 2021 THE REAL ESTATE COMMISSION OFFERS A FREE VIRTUAL EDUCATION EVENT “THE FUNDAMENTALS FOR A SUCCESSFUL FUNCTIONING OF AN ASSOCIATION” HONOLULU – The Real Estate […]]]>

DIRECTORATE OF TRADE AND CONSUMPTION

DIVISION OF PROFESSIONAL AND PROFESSIONAL LICENSES

DAVID Y. IGE

GOVERNOR

CATHERINE P. AWAKUNI COL??NOT

DIRECTOR

AHLANI K. QUIOGUE

LICENSE ADMINISTRATOR

FOR IMMEDIATE RELEASE

September 23, 2021

THE REAL ESTATE COMMISSION OFFERS A FREE VIRTUAL EDUCATION EVENT

“THE FUNDAMENTALS FOR A SUCCESSFUL FUNCTIONING OF AN ASSOCIATION”

HONOLULU – The Real Estate Commission, in conjunction with the Hawaii Chapter of the Community Associations Institute, is hosting a free educational event via a webinar next month. “The fundamentals of the proper functioning of an association” is open to the public and takes place from 9h00 to 12h00 on Saturday 23 October 2021. The webinar features six speakers recognized in the condominium community for their expertise in Hawaii condominium law, specifically in the areas of condominium corporation finance, contracts, board accountability, development of rules, insurance associations and unit modifications.

Registration for the event is available online at www.caihawaii.org. For more information, the public can call the Real Estate Department at 808-586-2644.

EVENT TOPICS INCLUDE:

  • Association finances
  • Contracts
  • Reduction of board liability
  • Dos and Don’ts of Making Rules That Work
  • Insurance Association
  • Changes to the processing unit

The Real Estate Commission is one of 25 boards and commissions administratively attached to the Department of Commerce and Consumer Affairs through the Professional and Professional Licensing Division. He is responsible for the licensing, training and discipline of real estate agents; registering pre-license schools, continuing education providers, condominium projects, condominium associations, condominium management agents and condominium hotel operators; and certification of pre-licensing and continuing education courses, and pre-licensing instructors.

# # #

Media contact:

Jayson Horiuchi Communications Officer Commerce and Consumer Affairs Department Email: [email protected]

Telephone: (808) 586-7582


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All Ships Investors completes first Canadian real estate transaction on the Percent platform https://californiasunsetteam.com/all-ships-investors-completes-first-canadian-real-estate-transaction-on-the-percent-platform/ https://californiasunsetteam.com/all-ships-investors-completes-first-canadian-real-estate-transaction-on-the-percent-platform/#respond Thu, 23 Sep 2021 12:44:00 +0000 https://californiasunsetteam.com/all-ships-investors-completes-first-canadian-real-estate-transaction-on-the-percent-platform/ NEW YORK, September 23, 2021 / PRNewswire / – All vessel investors (ASI), a strategic alternative finance company with expertise in residential mortgages and private lending, is pleased to announce a new partnership as part of its advice to Percent, a fintech company and platform for leading alternative investment. ASI and Percent deepen their historic […]]]>

NEW YORK, September 23, 2021 / PRNewswire / – All vessel investors (ASI), a strategic alternative finance company with expertise in residential mortgages and private lending, is pleased to announce a new partnership as part of its advice to Percent, a fintech company and platform for leading alternative investment.

ASI and Percent deepen their historic relationship in a new partnership with Indigoblue, a Canadian originator of residential mortgages. This partnership expands Percent’s capital markets and technology suite to a new geography and asset class, and is the latest in a series of new partnerships between Percent and a growing number of private credit asset originators.

Percent provides accredited investors with uncorrelated, transparent and high yield investment products while providing non-dilutive growth capital to its origination partners.

At September 21st, 2021 Percentage closed IDG Residential Mortgage Sr. 2021-1, a $ 2,500,000 private debt agreement backed by Canadian residential mortgages issued by Indigoblue. The deal, originally announced on September 9e, 2021 as $ 2,000,000 issue with an eleven-day investment window, experienced unprecedented demand to participate, leading to oversubscription in the first three days, increased by 25% to $ 2,500,000 and receive full funding after just six days on the market – five days ahead of schedule.

“Percent is excited to develop a relationship with Indigoblue as both companies continue to make expected improvements to their industries,” said Prath Reddy, President of Percent. “We are particularly happy to join forces with an initiator who brings new visibility to both Canada and the real estate sector, as we strive to provide additional diversification opportunities to our investors. Our long-standing relationship with the All Ships Investors team, who acted as strategic advisors on this transaction, has contributed to our expansion into new asset classes and geographies. The results to date speak for themselves. “

“We are thrilled to be the first Canadian alternative residential lender to feature on Percent’s innovative investor platform. Says Indigoblue CEO Harry singh. “The two companies share a common goal of providing easier and more transparent access to alternative investments. Additionally, we are delighted with the information All Ships has provided us and their work in positioning Indigoblue to grow our business from a new perspective. way we could never have done without. All ships and percentage. The fact that we were able to increase our agreement by 25% demonstrates the power of the All Ships and Percentage relationship. ”

Wicker diviner, Managing Director of All Ships noted that “The key to the success of this partnership has been the achievement by All Ships of a unique match between Percent’s strategy or the provision of high yielding short-term investments to investors in detail and unique features of the Canadian mortgage market. where short term mortgages are prevalent compared to longer term mortgages in the United States. Being able to combine Percent’s technology and the real estate expertise of All Ships with the underwriting quality of Indigoblue has given us the opportunity to bring a new asset class to retail investors who may not otherwise be able to to access this type of investment. We are delighted with the results achieved so far and look forward to bringing more initiators to the platform in the near future.

All Ships Investors LLC

new YorkAll Ships Investors helps finance the growth of loan originators in the United States and internationally, across multiple asset classes with sources of capital tailored to their product, portfolio characteristics and strategic objectives. If you are interested in exploring funding from All Ships Investors or Percent, contact Quentin English: Tel. : (646) 470-9526 | [email protected]

SOURCE All Ships Investors LLC


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InPoint Commercial Real Estate Income, Inc.Announces Completion of Its Preferred Share Offer https://californiasunsetteam.com/inpoint-commercial-real-estate-income-inc-announces-completion-of-its-preferred-share-offer/ https://californiasunsetteam.com/inpoint-commercial-real-estate-income-inc-announces-completion-of-its-preferred-share-offer/#respond Wed, 22 Sep 2021 20:07:00 +0000 https://californiasunsetteam.com/inpoint-commercial-real-estate-income-inc-announces-completion-of-its-preferred-share-offer/ OAK BROOK, Illinois – (COMMERCIAL THREAD) – InPoint Commercial Real Estate Income, Inc., a Maryland company (the “Company”), today announced the completion of its take-over bid for 3,500,000 shares of its series cumulative redeemable preferred shares A at 6.75%, with a par value of $ 0.001 per share (the “Series A Preferred Shares”) at a […]]]>

OAK BROOK, Illinois – (COMMERCIAL THREAD) – InPoint Commercial Real Estate Income, Inc., a Maryland company (the “Company”), today announced the completion of its take-over bid for 3,500,000 shares of its series cumulative redeemable preferred shares A at 6.75%, with a par value of $ 0.001 per share (the “Series A Preferred Shares”) at a public offering price of $ 25.00 per share. The Company has decided to expand the offer after the marketing period in order to meet the strong demand from potential investors. In addition, the Company has granted the underwriters a 30-day option to purchase an additional 525,000 shares of the Series A preferred shares to cover over-allotments, if any. The Series A preferred shares have a liquidation preference of $ 25.00 per share. The Company will receive gross proceeds of $ 87.5 million (or approximately $ 100.6 million if the underwriters exercise their over-allotment option in full) from the sale of the Series A preferred shares, before deduction of subscription discounts and other estimated offering costs.

The Company intends to pay the net proceeds of the offering to its operating partnership, InPoint REIT Operating Partnership, LP, which in turn intends to use the net proceeds to acquire its targeted assets from in a manner consistent with its investment strategies and investment guidelines and for general corporate purposes.

The Series A preferred shares have been approved for listing on the New York Stock Exchange under the symbol “ICR PR A” and trading is expected to commence on or about September 23, 2021.

Raymond James & Associates, Inc. acted as sole accounting manager.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the Series A preferred shares referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. A registration statement relating to the Series A Preferred Shares has been filed and has been declared effective by the Securities and Exchange Commission (the “SEC”).

The offer will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained free of charge by visiting the SEC’s website at www.sec.gov or can be obtained from Raymond James at the attention of: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863. The prospectus contains a description of these matters and other important information about the Company and should be read carefully before investing.

About InPoint Commercial Real Estate Income, Inc.

InPoint Commercial Real Estate Income, Inc. is a commercial mortgage real estate investment trust that seeks to create, acquire and manage a diversified credit portfolio secured by commercial real estate properties primarily in the United States.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements about the business of the Company, including, in particular, statements about the plans, strategies and objectives of the Company and the public offering of its preferred shares. You can generally identify forward-looking statements by the Company’s use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “anticipate”, “estimate”. “,” Believe “,” continue “or other similar words. These statements include the plans and objectives of the Company for future operations, including plans and objectives relating to future growth and availability of funds, and are based on current expectations which involve numerous risks and uncertainties. Assumptions relating to these statements involve judgments concerning, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict with precision and many of which are beyond the control of the Company. Although the Company believes that the assumptions underlying forward-looking statements, and the forward-looking statements themselves, are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that such forward-looking statements prove to be accurate and the actual results, performance and achievements of the Company may differ materially from those expressed or implied by such forward-looking statements. In light of the material uncertainties inherent in these forward-looking statements, the inclusion of this information should not be construed as a statement by the Company or any other person that the objectives and plans of the Company, which it considers reasonable, will be. achieved. Factors that could cause actual results to differ materially from the Company’s expectations include, without limitation, risks and uncertainties relating to the application of the intended use of the proceeds of the offering, under the terms of the market, changes in economic conditions in general and the markets in particular.

You should carefully review the “Risk Factors” section of the Company’s prospectus, which is included in the Company’s registration statement on Form S-11 (File No. 333-258802) filed with the SEC, as well as the risk factors set out in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on March 19, 2021, and the Company’s Quarterly Report on Form 10 -Q for the quarter ended March 31, 2021, as filed with the SEC on May 14, 2021, for a discussion of the risks and uncertainties that the Company considers material to its business, results of operations, prospects and financial situation. Except as otherwise provided by federal securities laws, the Company does not undertake to update or revise any forward-looking statements publicly, whether as a result of new information, future events or otherwise.


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Brad Pitt and Angelina Jolie fight over $ 164 million in French real estate https://californiasunsetteam.com/brad-pitt-and-angelina-jolie-fight-over-164-million-in-french-real-estate/ https://californiasunsetteam.com/brad-pitt-and-angelina-jolie-fight-over-164-million-in-french-real-estate/#respond Wed, 22 Sep 2021 03:16:48 +0000 https://californiasunsetteam.com/brad-pitt-and-angelina-jolie-fight-over-164-million-in-french-real-estate/ The divorce between Angelina Jolie and Brad Pitt ended in 2019, but the former couple are still in dispute over luxury condominiums in France, according to court documents obtained by Fox News. to augment. A complaint filed in Luxembourg on Tuesday did not allow the “Maleficent” (46) star to mine (57) a 50% share of […]]]>

The divorce between Angelina Jolie and Brad Pitt ended in 2019, but the former couple are still in dispute over luxury condominiums in France, according to court documents obtained by Fox News. to augment.

A complaint filed in Luxembourg on Tuesday did not allow the “Maleficent” (46) star to mine (57) a 50% share of Chateau Miraval’s $ 164 million 1,000 acres in Corin, France. He accuses her of having tried to unload herself. The first option to buy it.

The vast real estate estate is owned by separate limited liability companies managed by both parties, according to court documents indicating that Mirabal is originally 60% owned by Kimikam-Pitt through his company Mondobongo. I owned a share. Meanwhile, Jolly owned 40% through his company Nouvel.

“For the past four years, Nouvelle has deserved to be mentioned. [Jolie’s company] By systematically delaying the approval of the annual accounts and the renewal of directors, we have not acted in the best interest of Quimicum ”, declared the procedure.

Angelina Jolie says she didn’t decide to divorce Brad Pitt “lightly”: “There are a lot of things I can’t say.”

An aerial photograph taken in Leval, south-eastern France, on May 31, 2008, shows Chateau Miraval, a wine mansion owned by a company run by Brad Pitt and Angelina Jolie.
(Michel Gangne ​​/ AFP via Getty Images)

“I understand the real objective of Nouvel and its shareholders behind this systematic obstruction. [Jolie] The shares of Château Miraval SA were sold in such a way as to circumvent Mondobongo’s first veto (as described in the Kimikam approval article), resulting in a capital gain thanks to Mondobongo’s investment and the lack of contribution of New. “

Pitt and Jolly tied the knot in a luxurious mansion in 2014 as part of a top-secret ritual involving just six children. According to the document, three years before throwing the ball into a lengthy divorce process, Pitt transferred 10% of his stake to Jolly, making the two co-owners 50/50 with nine-digit benchmarks. low.

Court disqualifies Angelina Jolie judge and Brad Pitt divorce case

According to sources reported to Fox News on Tuesday, Jolly allegedly dealt with real estate when the actress attempted to move the goal post and avoid her duty in the pits. They wanted to get out of the business.

Meanwhile, Jolly’s camp is pointing fingers at Pitt, who allegedly used his fame to sympathize with Exe’s ongoing custody battle.

Brad Pitt filed a lawsuit alleging that Angelina Jolie was trying to sell her shares in the Chateau Miraval property without giving her the first option to buy it entirely.
(Michel Gangne ​​/ AFP via Getty Images)

“This kind of game is the latest effort of a famous litigant seeking special treatment, and not the goal of the court’s limited review resources,” Jolly’s lawyer told Page Six on Tuesday. ..

“There is nothing to see or review here. It is normal to respect the strict standards of this tribunal in matters of review or revision, ”she added.

Brad Pitt files for reconsideration in Angelina Jolie custody dispute after private judge is challenged

Jolly filed for divorce in August 2016 because of “irreconcilable differences” between five of her six children (Pax 17, Zahara 16, Shiro 15, twins Vivienne and Knox 13). Guard requested. ..

Earlier this month, Pitt filed for a review of their custody dispute after Jolly won disqualification from the private judge who oversaw their case.

Angelina Jolie and Brad Pitt were married for two years before the actress filed for divorce.

Angelina Jolie and Brad Pitt were married for two years before the actress filed for divorce.
(Getty)

In a statement to Fox News at the time, Pitt’s attorney Theodore J. Boutros Jr. said: After lengthy legal proceedings by several witnesses and experts, he was disqualified after making custody decisions detailed and factual.

“The lower court’s decision rewards the losing side of the custody case and allows them to wait for possible directions in the case before asking for the judge’s disqualification, his ability to play. Allows the use of this type of strategy The opposition to disqualification “pending” intervenes in this case by unnecessarily prolonging the resolution of these disputes in an already overloaded judicial system. It causes irreparable harm both to the child and his family, and in other cases to other families. The strategy will deprive parents of irreplaceable time with their children, as judges who allow this kind of smart procedure will be disqualified during the case for minor reasons.

Brad Pitt gets shared custody of children in Angelina Jolie divorce case

“The lower court ruling is bad for children and for the overweight California court system,” said Boutrous Jr. of Gibson, Dunn & Clutcher LLP. Concluded.

Jolly’s attorney did not immediately return Fox News’ request for comment, but in a statement at the time, attorney for actress Robert A. Olson told Entertainment Tonight: After hearing the question detention, the judge correctly overturned the judge’s order.

Click here to get the Fox News app

“Sir. Pitt’s attorney’s petition to the California Supreme Court shows just how much they stick with this private judge who was biased and rejected legally necessary evidence. In a financial relationship, l Mr Pitt’s lawyer sought to revive a private judge.

“Jolly wants Pitt to be with her instead to focus on the children’s needs, voices and healing,” the statement concludes.

Representatives for Jolie did not immediately respond to Fox News’ request for comment.

Melissa Roberto of Fox News contributed to this report.

Source link Brad Pitt and Angelina Jolie fight over $ 164 million in French real estate


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Rabbet Announces Partnership with AvidXchange to Improve Invoice Management Process for Real Estate Development Teams https://californiasunsetteam.com/rabbet-announces-partnership-with-avidxchange-to-improve-invoice-management-process-for-real-estate-development-teams/ https://californiasunsetteam.com/rabbet-announces-partnership-with-avidxchange-to-improve-invoice-management-process-for-real-estate-development-teams/#respond Tue, 21 Sep 2021 13:24:00 +0000 https://californiasunsetteam.com/rabbet-announces-partnership-with-avidxchange-to-improve-invoice-management-process-for-real-estate-development-teams/ AUSTIN, Texas – (COMMERCIAL THREAD) –Rabbet, the leading provider of property development management software, today announced a partnership with Avidxchange, the leading provider of mid-market accounts payable and payment automation solutions to improve the invoice management process for property development teams. Rabbet’s technology will now communicate with AvidInvoice, AvidXchange’s AP solution designed to shorten lifecycle […]]]>

AUSTIN, Texas – (COMMERCIAL THREAD) –Rabbet, the leading provider of property development management software, today announced a partnership with Avidxchange, the leading provider of mid-market accounts payable and payment automation solutions to improve the invoice management process for property development teams.

Rabbet’s technology will now communicate with AvidInvoice, AvidXchange’s AP solution designed to shorten lifecycle times and streamline workflows through electronic invoicing. This new feature reduces the need for duplicate billing data, allowing invoices to be paid more efficiently and with fewer errors to minimize costs and time spent with manual processing.

“This partnership not only strengthens our position in the real estate industry, but will also provide a better experience for Rabbet clients,” said Joe Fox, Product Director of AvidXchange. “By working together, we hope clients will see a significant impact on the collaboration between their development teams and their accounting teams, and on the transformation of their day-to-day invoicing processes. ”

Real estate development teams often rely on accounting teams to compile invoice information, and much of their work is managed in spreadsheets that are unrelated to accounting records. Thanks to this partnership, AvidXchange will help Rabbet customers improve collaboration between these teams and maximize efficiency. Stream Realty Partners, one of the fastest growing full-service commercial real estate companies and joint customer of Rabbet and AvidXchange, is already seeing the benefits of this partnership.

“Now, thanks to the partnership between Rabbet and AvidXchange, our accounting team and our development team can trust their information and execute their respective processes with ease,” said Albert Jarrell, partner and general manager of construction management for Stream Realty Partners.By using both AvidXchange and Rabbet, invoice management has become much more efficient.

Will Mitchell, CEO of Rabbet, says: “Our most recent construction payment report showed that slow payments cost the industry more than $ 100 billion last year. By partnering with AvidXchange, we are taking an exciting step towards our goal of streamlining payments in construction finance, saving real estate development companies time, reducing errors, and building stronger relationships with all parties. project stakeholders.

About Rabbet

Rabbet provides cloud-based solutions to commercial construction lenders and real estate developers to organize construction finances, automate administrative tasks and improve collaboration. Based in Austin, Texas, Rabbet was founded in 2017 and provides visibility and efficiency across billions of dollars in commercial construction projects.


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Century 21 Real Estate Releases Compelling New Data on Home Evolution and Its Impact on Life in the Future https://californiasunsetteam.com/century-21-real-estate-releases-compelling-new-data-on-home-evolution-and-its-impact-on-life-in-the-future/ https://californiasunsetteam.com/century-21-real-estate-releases-compelling-new-data-on-home-evolution-and-its-impact-on-life-in-the-future/#respond Mon, 20 Sep 2021 14:15:00 +0000 https://californiasunsetteam.com/century-21-real-estate-releases-compelling-new-data-on-home-evolution-and-its-impact-on-life-in-the-future/ MADISON, New Jersey, Sept. 20, 2021 / PRNewswire / – What does “home” mean to you? For many of us, the answer to this question has changed dramatically over the past year and a half as we move forward into our new COVID reality. As part of its 50e anniversary as a world leader in […]]]>

MADISON, New Jersey, Sept. 20, 2021 / PRNewswire / – What does “home” mean to you? For many of us, the answer to this question has changed dramatically over the past year and a half as we move forward into our new COVID reality. As part of its 50e anniversary as a world leader in real estate and innovator, CENTURY 21® Brand – named the fastest growing franchise in Contractor magazines March 2021 issue – explores this concept in a unique collaboration with National Geographic CreativeWorks, culminating in the production of their very first branded documentary. Entitled “Home Rediscovered”, the documentary premieres on the National Geographic Network on September 23, 2021, To 10 p.m. EST.

To support the film, CENTURY 21® Brand commissioned a global research study with Magnetic Collective, a knowledge-driven brand consulting firm, to explore how the last year transformed the modern home and what these changes could mean for the future of home ownership. to the property and real estate sector. The study was conducted using quantitative analysis and qualitative interviews with real estate agents, builders, recent buyers and prospective buyers in five key global markets, including United States, France, Australia, Spain and Japan. With more offices around the world than any other real estate franchise, it was important for Century 21 Real Estate to look at the data through a global lens. The survey was based on responses from 1,500 people (300 in each market), aged 25 to 64 from April to May 2021. The documentary “Rediscovering Home” builds on the findings of the study and examines several housing trends that emerged during the pandemic that are expected to shape our view of the home for the foreseeable future.

The main takeaways from global data are:

  • There hasn’t been a single universal pandemic experience as countries have followed their own COVID calendars with varying peaks and restrictions, creating a home-buying process that varies geographically.
    • United States, Spain, and France were all once epicenters and have gone through some of the longest lockdown and restriction periods
      • 58% of buyers in France say that COVID will have a lasting impact on what they want in their homes; 43% of buyers in Spain say COVID has been the most influential when it comes to their desire to buy a new home
    • The influence of COVID on some aspects of the home buying process in the United States is more evident for those with children and those who work from home
    • Australia and Japan initially saw a slowdown rather than a lockdown, but the more recent emergence of COVID in Japan 48% of future buyers say it was a factor in their desire to buy a new home
    • 22% of respondents worldwide say they have moved because a family member has moved in, resulting in a universal need for flexibility and re-imagining of spaces
      • in Australia, children are now more likely to stay home through college years, until they find a job with a stable income
      • in Spain and Japan, children stay at home until age 30 or marriage
  • The pandemic has forced people to stay close to home, but even when looking to relocate, they don’t go far.
    • In all markets, most respondents reported having moved within 20 miles or kilometers of their current home; traveling longer distances (50+ miles or kilometers) is more common in the United States and France than in other markets
    • 20% from the United States and France buyers traveled more than 50 miles or kilometers, compared to Spain and Japan buyers under 15% have come here
  • Low inventories and rising prices continue to be hot topics in the United States and in all markets.
    • Low inventory of homes in the top five challenges people face in all of the markets studied; all markets have had difficulty finding housing that meets their needs.
    • In the United States, according to the National Association of Realtors, the numbers of public inventories from May to June increased by 3.3% and the numbers of internal inventories also tend to increase, which led to early optimism. according to which we see green shoots of increased supply.
    • France has experienced a boom in the “suburbs” (suburbs) with soaring property prices in the suburbs, a trend that has only been accentuated by the pandemic
    • While Australia Has fared better than other well-developed countries due to instant lockdowns, internal border controls and strict social distancing measures, residential property values ​​have risen steadily over the past year
  • Urban theft is happening all over the world, but it doesn’t appear to be a lasting trend.
    • Future buyers in all countries surveyed are more likely to stay in urban areas by a large margin (compared to recent buyers)
    • In the United States, 82% of future buyers will stay in urban areas. In Japan, this number is 80%; 59% in France, 73% in Spain and 62% in Australia

“It’s no secret that the past 18 months have been a wild race for the real estate industry,” said Michael miedler, President and CEO, Century 21 Real Estate LLC. “What was once a seasonal business that had expected results month on month was completely turned upside down by working from home, homeschooling and postponed life events. We were delighted to be working alongside the collective. Magnetic and National Geographic CreativeWorks to delve deeply into how these lifestyle changes would impact consumers’ vision of the home and ultimately the future of our industry. coming, we were thrilled to see that surveyed buyers in all markets see the benefits of having an engaged real estate professional, like our C21® Affiliate Agents, taking on multiple roles and being a partner throughout the journey. these learnings will help ensure that we continue to deliver the most extraordinary experiences possible to all of our customers across the globe. “

“Home Rediscovered” is a 45-minute film hosted by National Geographic explorers Andrés Ruzo and Dr. Rae Wynn Grant. They met a diverse group of families and individuals who have uprooted their lives, bought homes, moved, or just rethought the way they want to live – now and in the future by exploring what the future of home will look like. . the world.

To learn more about the CENTURY 21 brand collaboration and National Geographic CreativeWorks as well as to view the exclusive trailer for the documentary “Home Rediscovered”, please visit Nationalgeographic.com/future-of-home/.

Press assets can be downloaded using the following link: https://wdrv.it/8412e4ccc

About Century 21 Real Estate LLC
The approximately 155,000 independent sales professionals in approximately 14,250 offices in 86 CENTURY 21 countries and territories® System lives its mission on a daily basis: to challenge mediocrity and offer extraordinary experiences. By consistently pursuing excellence, donating 121% and consistently growing, the CENTURY 21 brand helps its brokers and affiliate agents to be the number one choice for real estate consumers and professionals around the world. Century 21 Real Estate has numerous websites to help meet specific consumer needs.

They are Century21.com, Century21.com/global, Century21.com/commercial,
Century21.com/finehomes and Century21.com/espanol.

Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.

© 2021 Century 21 Real Estate LLC. All rights reserved. 21ST CENTURY®, the CENTURY 21 and C21 logo® are registered service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of Fair Housing Law and Equal Opportunity Law. Each office is independently owned and operated.

PR contacts:

CENTURY 21 Real Estate LLC
Erin Siegel, Senior Director, Public Relations and Executive Communications
[email protected]
201.913.1432

Martin agency
Fenton crowther, Cultural impact specialist
[email protected]
804.305.6366

SOURCE Century 21 Real Estate LLC

Related links

http://www.century21.com


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Where are Knoxville’s new residents coming from in the midst of a crazy real estate market https://californiasunsetteam.com/where-are-knoxvilles-new-residents-coming-from-in-the-midst-of-a-crazy-real-estate-market/ https://californiasunsetteam.com/where-are-knoxvilles-new-residents-coming-from-in-the-midst-of-a-crazy-real-estate-market/#respond Mon, 20 Sep 2021 02:00:18 +0000 https://californiasunsetteam.com/where-are-knoxvilles-new-residents-coming-from-in-the-midst-of-a-crazy-real-estate-market/ Heard all these trivia about people moving from California to Knoxville? There have been quite a few – almost 16.3% from Los Angeles, San Diego or the Bay Area – but almost one in four newcomers are from New York or Chicago. The Knoxville Area Association of Realtors shared Redfin data which showed the area […]]]>

Heard all these trivia about people moving from California to Knoxville?

There have been quite a few – almost 16.3% from Los Angeles, San Diego or the Bay Area – but almost one in four newcomers are from New York or Chicago.

The Knoxville Area Association of Realtors shared Redfin data which showed the area originated from these large cities, plus 5.9% from Washington, DC and between 3% and 1.5% from Denver, Seattle, Miami and Atlanta.

Estimates from global real estate company Redfin, which has tracked its clients who have moved from one metropolitan area to another, do not include people who have moved to Knoxville, said Hancen Sale, director of government affairs and policy. at the Knoxville Area Association of Realtors.

The numbers are indicative of pre-COVID-19 trends that have become more pronounced, he added.



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Investors sell Chinese real estate stocks https://californiasunsetteam.com/investors-sell-chinese-real-estate-stocks/ https://californiasunsetteam.com/investors-sell-chinese-real-estate-stocks/#respond Sun, 19 Sep 2021 13:00:00 +0000 https://californiasunsetteam.com/investors-sell-chinese-real-estate-stocks/ Hong Kong Stock Exchange (Getty) Investors continued to sell shares of Chinese real estate companies, wary of Beijing’s continued efforts to stabilize the sector. The Hong Kong Stock Exchange’s real estate index, which tracks 52 real estate companies, fell 4.9% on Thursday to close at its lowest level since 2017, according to the Wall Street […]]]>

Hong Kong Stock Exchange (Getty)

Investors continued to sell shares of Chinese real estate companies, wary of Beijing’s continued efforts to stabilize the sector.

The Hong Kong Stock Exchange’s real estate index, which tracks 52 real estate companies, fell 4.9% on Thursday to close at its lowest level since 2017, according to the Wall Street Journal.

The Chinese government began to monitor the real estate sector more closely last year as concerns mounted over the heavy indebtedness of some developers.

China Evergrande Group has become the star child of the indebted sector, with its stock price falling nearly 80% this year. The real estate arm of the company recorded a loss in the first half of the year for the first time since 2009.

The government has not offered to bail out Evergrande, but would likely get involved to avoid a chaotic collapse of the company. The company has the dubious distinction of being the world’s most leveraged developer.

This year, the Chinese government limited developer loans and prohibited private equity firms from investing in residential development.

Recently released economic data showing weakness in the sector is also prompting investors to sell their shares in developers. The total value of home sales in China fell 19.7% year-on-year in August, the highest since April 2020.

The Hong Kong Stock Exchange’s real estate index, called Lippo Select HK & Mainland Property Index, fell 23% this year on Thursday, pushing down the prices of shares of quality companies like Shimao Group Holdings.

[WSJ] – Denis lynch


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Sydney real estate: man owns six properties at 32 https://californiasunsetteam.com/sydney-real-estate-man-owns-six-properties-at-32/ https://californiasunsetteam.com/sydney-real-estate-man-owns-six-properties-at-32/#respond Sun, 19 Sep 2021 02:50:58 +0000 https://californiasunsetteam.com/sydney-real-estate-man-owns-six-properties-at-32/ A Sydney dad can boast of having a portfolio of six properties worth $ 2.7 million by the age of 32. Here is how he did it. At 32, Bobby Haeri owns six properties in two different states with a net worth of $ 2.7 million. Sydney’s dad bought his first property when he was […]]]>

A Sydney dad can boast of having a portfolio of six properties worth $ 2.7 million by the age of 32. Here is how he did it.

At 32, Bobby Haeri owns six properties in two different states with a net worth of $ 2.7 million.

Sydney’s dad bought his first property when he was just 18, after sharing the costs with his sister and dad.

Since then, he has used his loans, rent, lender’s mortgage insurance and salary to buy five more properties.

“The reality is you have to make sacrifices, maybe not go on vacation for a few years, create a budget or you may have to work 12 hours a day,” he told news.com. to.

“Working only eight hours, one day five days a week is going to be difficult to get through the early stages.”

Mr Haeri says he now works 12 hours a day, six days a week, running his own real estate agency, while raising his daughter Mia, 1, with his wife Dionne.

Although he admits he currently has $ 1.89 million in debt, he has good cash flow.

His tenants bring in about $ 10,000 a month and he only has to pay $ 7,000 a month on his mortgages, leaving it in his pocket.

Mr. Haeri went straight to full-time work starting his own gardening business after graduating from high school and bought his first property in 2008.

It was a $ 550,000 off-plan two-bedroom, two-bathroom apartment in St Ives, north Sydney.

“At that point there were government grants and stimulus, it was about a five percent deposit. You didn’t have to pay stamp duty, you paid stamp duty and you get it refunded, ”he recalls.

They paid $ 27,500 to secure the apartment.

At 21, he leveraged his share of the equity in his first property to buy the second.

This time it was a two bedroom, one bathroom apartment in Killara, a nearby suburb of St Ives, for $ 570,000.

“I listened to podcasts, read books 11 hours a day when I was gardening. I felt like I knew a bit more about the property, ”he said.

There were tenants in both properties who were covering her mortgage costs.

A year later, Mr. Haeri decided to sell the Killara apartment as he had just become engaged to his wife Dionne.

As it was during Sydney’s real estate boom, the apartment cost $ 100,000 more than he paid for.

He used some of that money to fund his wedding and honeymoon two years later at the age of 25. The rest went to a new home for him and his wife, which, like the previous apartment, cost $ 570,000.

It was a one-bedroom apartment in Brookvale, in Sydney’s North Beaches.

The mortgage payments of $ 2,200 per month were “comfortable” as her gardening business was doing well and Dionne was earning an engineering salary after graduation. Between them, they earned a little over $ 100,000.

For this reason, Mr. Haeri said in advice, “you definitely want to try to do it (build a real estate portfolio) with someone”.

With two properties under his belt, Mr. Haeri decided it was time to try something different.

In 2017, he heard that there would be numerous government infrastructure and construction projects in Grafton, a town in the Northern Rivers region of New South Wales.

“This is how the district becomes bourgeois, this is when we see these regional cities experiencing significant growth,” he said, adding that he had wanted to diversify his wallet.

The couple bought an established home in Grafton for $ 290,000.

“The thought process was that we knew we wanted to build a real estate portfolio, but the cash flow returns in Sydney were nonexistent,” Mr. Haeri said.

“You can’t own more than two properties inside Sydney because it’s too difficult financially. “

He believes 90 percent of investors are “stuck” at the helm of the two properties.

Then they grabbed a block of vacant land of $ 65,000 and 700 square meters also in Grafton.

They divided the vacant lot in half and built two houses with three bedrooms and two bathrooms, completely identical.

Each house cost $ 260,000, but they only needed a 10% down payment for construction.

At this point in 2017, Mr. Haeri owned five properties.

A year later, Mr. Haeri and his sister then sold their very first property.

“I wanted to keep building my portfolio and my sister didn’t,” he said.

“It was easier to leave with my money, she left with her money.”

They had kept the St Ives apartment for 10 years. It sold for $ 790,000, up from $ 550,000 when it was originally purchased, putting an additional $ 100,000 straight into his pocket.

The same year in 2018, Mr. Haeri “moved away” from his gardening business, delegating tasks to others but still reaping the rewards, giving him time to start the Investors Agency specializing in gardening. immovable.

They also left their Brookvale home and opened it to tenants. That way, they could live in a cheaper place and have the rent covering their mortgages.

The couple had worked hard to pay off their mortgages “quite aggressively” and felt ready to buy again in early 2020.

In March of last year, the Haeris looked even further, this time to Queensland.

They got a $ 300,000 house in the southern Brisbane suburb of Kingston, a 30-minute drive from the CBD.

In July of the same year, their daughter Mia was born.

Barely three months later, in October, they bought a $ 302,000 property in Deception Bay, a northern suburb of Brisbane.

It was his sixth simultaneous property.

However, they are in the process of building grandma’s apartments behind the houses in Brisbane and one in Grafton.

The couple make a quarter of a million dollars between them.

Now an associate engineer, Mr. Haeri’s wife earns $ 130,000 while he earns $ 120,000 per year.

Mr Haeri said his impressive portfolio of six properties would not have been possible with Lender’s Mortgage Insurance, or LMI.

He used LMI to secure the property of Brookvale and the two of Brisbane.

LMI is not as scary as it sounds, according to him.

“People shouldn’t worry too much about it,” he said.

“If you have $ 100,000, you can buy a house for $ 400,000 and you don’t buy LMI. Or you can buy two properties that increase in value.

“These properties that are growing in value will far exceed the costs of LMI.

“Then you can accumulate your properties twice as fast.

“Don’t focus too much on trying to save a 20 percent deposit.”

IMT is required when you have a deposit of less than 20 percent of the property’s value.

This is a one-off, non-refundable and non-transferable premium, which aims to protect the lender from financial loss if the borrower cannot afford the repayments of his mortgage.

It can be prepaid or added to your home loan.

Mr. Haeri said some of his loans are principal and interest, while others are interest only.

However, next year he plans to transfer everything to interest only.

“We take some free time to spend with Mia, that way we have the passive income,” he said.

Read related topics:Sydney


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Shaky real estate developer Evergrande sparks contagion fears for Chinese economy https://californiasunsetteam.com/shaky-real-estate-developer-evergrande-sparks-contagion-fears-for-chinese-economy/ https://californiasunsetteam.com/shaky-real-estate-developer-evergrande-sparks-contagion-fears-for-chinese-economy/#respond Sat, 18 Sep 2021 13:19:35 +0000 https://californiasunsetteam.com/shaky-real-estate-developer-evergrande-sparks-contagion-fears-for-chinese-economy/ Real estate developer China Evergrande Group is on the brink of collapse, weighed down by giant debt and billions of dollars in real estate that it cannot sell as quickly or as profitably as expected. As the problems have been brewing for a year, they are reaching a fever pitch now as the conglomerate missed […]]]>

Real estate developer China Evergrande Group is on the brink of collapse, weighed down by giant debt and billions of dollars in real estate that it cannot sell as quickly or as profitably as expected.

As the problems have been brewing for a year, they are reaching a fever pitch now as the conglomerate missed a loan payment in June and more are expected. The Evergrande offices were the scene of angry protests this week, and things could get even uglier on Monday when the company likely misses another key interest payment from its increasingly worried financiers.

Evergrande’s possible collapse raises fears that it may drag other parts of the Chinese housing market with it – and impact business interests outside of China as well.

Here is a brief explanation of what you need to know about the story.

What is Evergrande?

Founded in 1996 in the Chinese city of Shenzhen, across the border from Hong Kong, Evergrande is primarily a real estate developer whose core business is the purchase of land and its transformation into residential real estate. Company founder Hui Ka Yan is a former steelmaker who brought China’s 21st century real estate boom to a fortune that at one point stood at US $ 30 billion last year, good enough for the title of third richest man in China.

The company has built more than 1,300 housing projects in 280 cities across China, with plans for another 3,000 projects underway in various cities across the country.

But like any good conglomerate, it has spread to all kinds of other businesses, including bottled water and food, electric vehicles, theme parks, a Netflix-style streaming service with nearly 40 million customers – and even a professional football team.

Why is he in trouble?

Debt – and a lot of it. The company has nearly two trillion yuan in debt on its books, the equivalent of over US $ 300 billion. The company aggressively borrowed money to buy more land to develop and sold apartments quickly with low margins to raise enough money to start the cycle again – which works well as a business model, until that this is not the case.

At the end of 2020, new rules leading to a more in-depth examination of the company’s finances revealed higher-than-expected debt. That, coupled with growing construction delays, scared off buyers, creating a vicious cycle. The company began its descent to pariah status as lenders and buyers lost their cool with each other.

Every attempt by Evergrande since then to distract from his problems has only served to draw more attention to them. Lenders have become increasingly unstable. The existing owners got angry. New sales slowed down, creating a feedback loop that made lenders even more nervous.

WATCH | Investors angrily protest at the Evergrande offices:

The nervousness of Chinese real estate

Buyers of Chinese real estate developer Evergrande are demanding answers from company management as fears grow that the company could collapse under debt. (David Kirton / Reuters) 0:34

In June, the company admitted to defaulting on a loan payment. The following month, a Chinese court froze a $ 20 million bank deposit at the behest of one of its lenders. At least one creditor, a paint supplier, is would be paid in apartments that will not be ready before 2024.

According to data compiled by Bloomberg, on July 19, pre-sales for two projects in Hunan were halted. Three days later, Hong Kong banks stopped offering mortgages on the company’s unfinished projects in the city. On August 9, two more projects in Kunming halted construction due to missed payments, followed by similar shutdowns for projects in Nanjing and Chengdu. Since then, things have snowballed. The company’s stock price has collapsed 90% over the past year, and most of its bonds are in junk status.

The company is behind on its obligations to more than 70,000 investors. Over a million unfinished project buyers are in limbo. And the pace of problems is accelerating. “Sales could fall further as the developer may struggle to restore the confidence of potential buyers,” said Lisa Zhou, analyst at Bloomberg Intelligence.

Monday seems like an inflection point for the company as Evergrande is supposed to make an $ 80 million interest payment on one of its many loans, and there’s virtually no chance he’ll pay that. – which could start time towards undesirable results. .

What could happen?

There are a number of dark B words on the table – bankruptcy, break-up, buyout, or bailout – and none of them are ideal.

The first option would be the most painful.

“If, as expected, Evergrande defaults on its debt and undergoes a restructuring, I don’t see why it would be contained,” Michel Lowy of debt investment firm SC Lowy told Reuters.

The Emerald Bay residential project in Hong Kong, which has experienced delays, has scared buyers. (Lam Yik / Bloomberg)

But due to the Chinese government’s long-standing desire for stability, this is also the least likely outcome. The company owes 128 different banks money and has been responsible for nearly one in 20 real estate sales in China in the past five years. Evergrande permanently employs nearly 200,000 people but employs nearly four million people per year to work on various projects.

With such a broad reach, analysts covering the industry are confident Beijing won’t let the company simply collapse. “The escalating crisis in Evergrande could prompt the government to take measures to prevent social instability,” Zhou said.

It is more likely that one version of the next two options, a break-up or a buyout, is to sell assets to raise money and help manage things. “State-owned companies or other developers could also take over Evergrande’s projects, after Chinese officials sent accountants and legal experts to examine the company’s finances,” Zhou said.

A full government bailout, however, is just as unlikely. China has cracked down on its high-flying tech sector, trying to regulate and ban cryptocurrencies and curb excesses in all kinds of sectors. Evergrande’s problems could be a test of Beijing’s desire and ability to handle all facets of the growing economy.

A man walks past a banner promoting the Emerald Bay residential project in Hong Kong as the developer is on the verge of collapse. (Lam Yik / Bloomberg)

Bank of Montreal economist Art Woo said in a note on Friday that he also doubted a bailout was imminent. “As to who might bear the losses, it is frankly difficult to predict, but we think it is reasonable to believe that the authorities are unlikely to bail out shareholders or creditors in an attempt to prevent the moral hazard to increase and improve financial discipline, ”he said. noted.

It’s more likely to be some sort of organized reduction, to minimize damage. “We don’t think there is any incentive for the government to bail out Evergrande (which is a private company),” Iris Chen, analyst at Nomura, said in a note to clients.

“But they also won’t push Evergrande down and oversee a more orderly default, if at all, in our opinion.”

WATCH | CBC reported on Chinese “ghost towns” with empty towers almost ten years ago:

CBC’s Adrienne Arsenault explains how empty skyscrapers cast a shadow over the Canadian economy. 2:31

Is there an impact outside of China?

Not much, directly, although Evergrande has assets in Europe and North America – including the luxury Chateau Montebello resort in Quebec – but the company’s woes are a warning to people nonetheless. of the whole world.

China has experienced a real estate boom for more than two decades, as more and more people invest in residential real estate, almost regardless of the price and demand for the underlying asset.

The video went viral on social media this month of a 15-tower condo development in Kunming being blasted to the ground because it was a ghost town with no actual residents, eight years after it was built.

While this isn’t an Evergrande project, the concern is that there are plenty more like this.

Lehman Brothers moment in China?

The 2009 financial crisis was sparked by the bankruptcy of two investment banks, Bear Stearns and then Lehman Brothers, which exposed how bad debt there was in the system and caused a chain reaction of worry over down the line.

It might be far-fetched for the economy as a whole this time around, but it’s definitely on the table for the Chinese real estate market at least.

“Lehman [was] very different as it went through the financial system, freezing activity, ”said Patrick Perret-Green, independent analyst based in London.

“Millions of contracts with multiple counterparties, everyone was trying to determine their exposure,” he said. “With Evergrande, it depresses the whole real estate industry.”

“There are other developers who are suffering from the same problem of lack of access to cash and have spread too far,” Lowy said.

Simon MacAdam, an economist at Capital Economics, says Lehman’s parables are unwarranted.

“China’s current Lehman account is far from the truth,” he said. “Even though he was the first of many real estate developers to go bankrupt in China, we believe it would take a political misstep for it to cause its economy to slow down sharply.”

Either way, the Evergrande saga is a warning about the downsides of rampant real estate speculation everywhere.

As Woo said: “A default or bankruptcy is not a Lehman-type threat… but it is always bad news for the economy.”



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