"Two urban renewal projects that developers say would transform blighted portions of south and southwest downtown Colorado Springs into hotels, apartments, restaurants and the like have taken critical steps forward. The Colorado Springs Urban Renewal Authority on Wednesday recommended that the City Council declare 1.5-acres southwest of Tejon and Costilla streets as an urban renewal site. That recommendation was based, in part, on a consultant’s report that found deteriorated buildings, unsafe conditions and other evidence of blight on the property..."
"s the housing market beginning to run out of steam? After a long run of strong sales and rapid price appreciation, signs are beginning to point to a slowdown as home prices advance faster than incomes — a development that could be intensified by rising mortgage rates. Several recent reports from the government, analysts and real estate companies are starting to suggest that the market might have reached its peak..."
"Tucson has largely missed the economic recovery but three East Valley cities led by Gilbert have flourished, according to a new study that tracked the uneven pace of progress around the nation since the recession. Phoenix, Glendale and Mesa rank closer to the middle of the pack in terms of recent economic performance, looking at results from 2012 through 2016. The recession and gradual recovery reshuffled prosperity across the nation, said the Economic Innovation Group in its report. For example, it took less than five years on average for well-off communities to replace the jobs they lost during the 2007-2009 downturn, while distressed areas might never recover their losses..."
"Downtown St. Paul’s residential population has almost doubled from roughly 4,900 to 9,500 residents in eight years — a potential mixed-blessing for an area that continues to shed older offices and lacks contiguous, high-end office space. The restaurant-and-retail picture downtown is even more complicated. The number of storefronts is down, but the space they use is up. That is because restaurant openings, which tend to occupy more room than typical storefronts, remain a bright spot..."
"General contractors and other small businesses in the home remodeling industry can expect revenue to slow in 2019, the result of rising mortgage rates and sluggish home sales. That's the prediction of Harvard University's Joint Center for Housing Studies, which last week issued its quarterly report on home remodeling. The center's index of remodeling activity projects spending on renovations and repairs will gradually slow into the third quarter. Spending is expected to rise 7.7 percent in the current quarter compared to a year ago, and 6.6 percent in the July-September 2019 period..."
"The Santa Ana, California area is a city in Orange County, California. It’s home to the Santa Ana Zoo, with its monkeys, mini-train and walk-through aviary. In a Mission Revival–style building, the Bowers Museum displays a large collection of Native American art. STL.News offers the Top 15 Real Estate Teams/ Agents in Santa Ana, California, based on Most Recent Sales in Santa Ana..."
"Yes, the rental market has cooled way down recently as more apartments open. But only after rents here soared 155 percent over the last two decades, making Seattle and its suburbs one of the most expensive places in the country to rent an apartment. There’s been nothing but good news this year for Seattle-area renters, who have seen rent prices freeze while they get more and more open apartments to choose from and various perks like a free month’s rent offered by landlords. But that doesn’t mean Seattle is suddenly a utopia for apartment hunters..."
"A revised version of Initiative 300, Denver’s ambitious green roofs ordinance, may be enacted into law — spurring actual green roof construction, Denverite reports. Last year, a grassroots effort spurred the passage of Initiative 300, requiring that new buildings 25,000 square feet or larger devote some portion of their roof space to greenery or solar panels. Green roofs capture and filter stormwater and, by absorbing sunlight, reduce the urban heat island effect. The plants on a green roof can also suck pollutants out of the air. Local restaurant manager Brandon Rietheimer got the initiative on the ballot in 2017 after realizing that the city was not doing much to meet its 2020 sustainability goals..."
"Real estate in California is expensive, but in Los Angeles County it can seem exorbitant – like that record-breaking $1 billion property that hit the market in Beverly Hills. Yup, that's billion with a 'B.' But what about average home prices countywide? PropertyShark, a website that provides in-depth real estate data, analyzed neighborhoods in Los Angeles and found the median home prices in Quarter 3 of 2018. Surprisingly, they found that L.A. area's top 20 most expensive neighborhoods are overall twice as pricey as NYC's 20 most expensive..."
"A combination of high home prices and eroding affordability is expected to cut into housing demand and contribute to a weaker housing market in 2019, and 2018 home sales will register lower for the first time in four years, according to a housing and economic forecast released today by the CALIFORNIA ASSOCIATION OF REALTORS®' (C.A.R.). C.A.R.'s '2019 California Housing Market Forecast' sees a modest decline in existing single-family home sales of 3.3 percent next year to reach 396,800 units, down from the projected 2018 sales figure of 410,460. The 2018 figure is 3.2 percent lower compared with the 424,100 pace of homes sold in 2017..."
"Since the turn of the century, Pittsburgh has emerged as a story of reinvention and rebirth in the face of a changing economy. While the gains from our emergence as a hub of research and technology are real and hard-won, they don’t tell the whole story. Since the year 2000, housing — perhaps the most basic human right — has become significantly less affordable in Pittsburgh. According to a study commissioned by the city’s Affordable Housing Task Force, the average cost of a rental home has increased by $116 monthly, far exceeding the rate of inflation, while the median income of renters has remained stagnant at around $26,000 per year..."
"Urban renewal and city officials have concerns over a developer’s request to remove the retail portion of a proposed downtown project. The Tulsa Development Authority tabled the item at a meeting Thursday. Developers Neal Bhow and his son Shaun Bhow of Hartford Crossing LLC have asked the TDA to amend an agreement for a development at 111 S. Greenwood Ave., allowing them to eliminate a proposed ground-floor food hall and dropping the building from five stories to four. The proposal for 55 housing units remains unchanged..."
"Several developers who have unhatched plans for apartment towers in downtown Minneapolis in recent weeks will be keeping an eye on the newest high rise to open in the city. The Opus Group on Wednesday unveiled its 365 Nicollet tower, which brings 370 apartments to Nicollet Mall that will rent for upwards of $2.75 per square foot. That means $1,500 a month for a 520-square-foot studio and $3,000 a month for a 2-bedroom unit with 1,100 square feet. All but 50 units have balconies..."
"One thousand residential units, office and retail, and a 250-room hotel in Cobb County. A big residential project in Villa Rica, west of Atlanta. A 600,000-square-foot logistics center in Conyers. These are just a few of the big new real estate developments recently proposed around metro Atlanta. Click on the adjacent slideshow to take a whirlwind tour of 10 of the "developments of regional impact" that have been proposed recently around town..."
"Christina Williamson fits the profile of a young urban pioneer. The 35-year-old college professor runs across two city bridges as part of her daily fitness regimen, buys a sack of bananas at a fruit stand on the way home, walks to free concerts, stumbles upon Downtown cigar bars and wants to learn how to use the train that rushes by her apartment complex. She isn’t in New York City. She lives in Downtown Jacksonville..."
"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..."