Real Estate Investment, Asset Management
Article | May 25, 2023
According to a recent Bankrate survey of prospective buyers, the down payment was unanimously considered the biggest hurdle to buying a home. Saving for a down payment has hampered the home-buying journey for approximately 36% of those polled, in addition to the economic slowdown.
The good news is that there are many down payment assistance programs that empower home buyers and mitigate the financial burdens they face on their way to becoming a home owner. Many home buyers are not aware of these programs. Those who do know, have several misconceptions. The key is to understand the options and how down payment assistance programs operate.
Who Qualifies for a Down Payment Assistance Program?
One of the misconceptions that many have is that down payment assistance is only offered to first-time home buyers. Although, modern first-time buyers have multiple options at their disposal, many programs also cater to repeat buyers. In fact, according to the Homeownership Program Index, about 38% of down payment assistance programs in the Q1 of 2022 weren’t availed by first-time home buyers. This implies that repeat buyers can access as many as one third of homebuyer assistance programs even if they have bought a home before.
In addition, repeat buyers can take advantage of first-time homebuyer assistance programs depending on the definition set by the U.S. Department of Housing and Urban Development which states that an individual can qualify as a first time home buyer if they:
haven’t owned a primary residence in three years
are a single parent who has owned a home only with a former spouse
Location and Profession-based Eligibility for Down Payment Assistance Programs
Over and above the multiple options available to first-time and repeat home buyers, individuals in a specific location or profession could also be eligible for down payment assistance. The National Realtors Association says that a number of local and non-profits provide down payment grants and loans that are aimed at area borrowers or those with a specific borrower requirement.
Plus, individuals who work as teachers, doctors, nurses, and veterans can avail of the assistance programs offered by local, state, and federal lenders based on their profession.
To Summarize
Buying a home doesn’t have to be a financial burden. There are many down payment assistance solutions available today to empower prospective buyers fulfill their dream of becoming a home owner. Connecting with a local real estate, and using buyer proptech could help to find trusted lenders and a range of assistance programs.
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Real Estate Technology
Article | July 21, 2022
Commercial real estate events assist professionals in enhancing asset management by gaining valuable insights, adopting advanced technologies and effectively navigating current industry landscape.
Commercial Real Estate asset management is dynamic, complex, and constantly evolving. To constantly change with the latest trends and technologies, professionals need access to the best resources and experts. However, staying informed and up-to-date can be challenging, particularly for those new to the industry or having difficulty managing the business. Attending conferences and trade shows can be incredibly valuable and help overcome the challenges of managing assets in real estate. The events from May 2023 to January 2024 provide a unique opportunity to learn about emerging technology, sustainability and climate technology, and property and investment tips. In addition, by participating in workshops and attending conferences led by top experts and networking with industry leaders, one can navigate the current scenarios and gain valuable insights to better manage their commercial real estate assets.
10 Upcoming Commercial Real Estate Asset Management Events
1. Realcomm | IBcon 2023: Past, Present and Future of Real Estate Technology
June 13-15, 2023 | Las Vegas (USA)
Realcomm and IBcon 2023 have formed a prominent group of commercial real estate executives and intelligent buildings experts worldwide to serve on their advisory councils to provide exceptional education on the most important issues affecting the commercial and corporate real estate industries. The event's agenda will cover various themes: intelligent buildings, smart workplaces, digital transformation, sustainability, cybersecurity, and more. It is a once-in-a-lifetime opportunity for real estate and asset management professionals to learn from the foremost experts in their field, expand their knowledge and network, and advance their professional development.
2. MRI Ascend 2023
October 24-27, 2023 | Chicago (Illinois)
The MRI Ascend 2023 conference for all real estate professionals seeking to stay abreast of the latest industry insights and master MRI's product offerings. This event presents an exclusive opportunity for attendees to learn from prominent industry leaders, earn valuable CPE credits, and gain insights about the industry's current scenario and trends. In addition, the conference gives a platform to engage with other MRI users, real estate experts, and MRI's partner ecosystem members, including numerous sponsors, in various networking opportunities. The conference's agenda comprises informative sessions, expert-led workshops, and engaging panel discussions, providing attendees with a comprehensive understanding of the real estate technology trends.
3. REAL PropTech Conference 2023
September 7-8, 2023 | Frankfurt am Main (Deutschland)
The REAL PropTech Conference is a highly anticipated event for the real estate and construction industry, offering an overview of GreenTech, ConTech, and PropTech to C-suite representatives, decision-makers, and industry experts. Property managers, portfolio managers and other executives in the industry can gain cross-industry insights, engage with experts, and explore solutions to industry challenges. The conference will offer intensive, creative topics featuring agile methods in a confidential setting, allowing for a unique learning experience. Additionally, a hackathon will enable participants to develop practical and innovative solutions and win prize money of 5,000 euros. This event will be a valuable experience for industry professionals seeking to stay up-to-date with the latest trends and drive the industry forward.
4. Inman Connect New York 2024
January 23-25 2024 | Hilton (New York)
Real estate professionals looking to enhance their knowledge, build relationships, and grow their businesses can benefit from attending the upcoming Inman Connect New York event. The three-day conference brings together top agents, brokers, executives, proptech, and financial professionals to share insights, insider guidance, and trends to navigate the current market. With over 75 engaging sessions featuring 250 expert speakers and countless networking opportunities, attendees can gain valuable advice and build essential relationships with peers and industry leaders. In addition, Inman Connect New York offers an immersive experience with crucial newsmakers, visionaries, and trendsetters, providing critical insights and advice to help professionals take their businesses to the next level.
5. I.CON East 2023
June 7-8, 2023 | New Jersey (USA)
I.CON Is one of the largest events in New Jersey focused on developing, operating, and expanding industrial real estate. As an industrial real estate professional, attending this premier conference offers a unique opportunity to stay up-to-date on the latest trends and technologies in real estate asset management and industrial development from top industry leaders. Additionally, the event provides a platform to network with like-minded professionals in a vibrant and enthusiastic environment. Attending the event will help with investment management solutions for real estate investors. The event features a range of activities, including a happy hour with exhibitors and a keynote speech on 'The Future of Economic Growth: Identifying Emerging Opportunities and Risks.' Keynote speakers include Matt Brady from Ware Malcomb, Luke Corsbie from PE, PLS, Frank Di Roma from OAA, James Geshwiler from Catalyze, Nicolette Jaze from Galvanize Climate Solutions, and Madeline O'Donnell from Principal Real Estate Investor, among other well-known speakers.
6. Future of Digital Asset Management Summit
October 18, 2023 | London (United Kingdom)
The Future of Digital Asset Management for Businesses is a highly informative event focusing on essential solutions for real estate professionals seeking to streamline their digital asset management processes. This event brings together experienced experts from international brands to share their insights and knowledge on the software systems that can enhance campaign productivity and ensure brand consistency. In addition, attendees will comprehensively understand digital asset management, digital delivery, data analytics, security, and more. This event is designed for CXOs, VPs, Directors, Managers, and professionals from various domains, such as asset management, digital technology, IT, business development, and more. The event's key speakers are from leading companies such as Tesco, Nordia, ExxonMobil, Atkins, and Ashley.
7. Expo Real
October 4-6, 2023 | Munich (Germany)
Expo Real is an international trade fair dedicated to property and investment, attracting professionals worldwide from the entire real estate industry. Held annually for three days in Munich every October since 1998, it is one of the most significant events of its kind in Europe. Expo Real provides the perfect platform for networking and sharing the latest real estate insights with fellow professionals meaningfully. The event will allow one to discover the latest trends in property and investment, attend panel discussions, and connect with like-minded individuals worldwide. Renowned industry experts will share their insights on current and future trends in the real estate market. The event will feature over 500 speakers from various sectors of the real estate industry, including leading investors, developers, operators, and service providers.
8. Canada PropTech Show 2023
August 22-23, 2023 | Toronto (Canada)
The Canada PropTech Show is a two-day event that includes an exhibition, networking sessions, and awards, providing an ideal platform for PropTech companies, real estate owners, investors, service providers, startups, and other players in the real estate ecosystem to engage in productive discussions, share ideas, and build partnerships. The real estate conference will cover topics such as smart buildings, AI, blockchain, virtual and augmented reality, and IoT. Through these sessions, attendees will gain valuable insights into how technology transforms the real estate industry and discover ways to leverage technology to drive their businesses forward. By attending the event, real estate professionals can gain a competitive advantage, forge new business relationships, and discover new opportunities for growth and success.
9. Mortgage Star Conference
July 10, 2023 | Orleans (Los Angeles)
The Mortgage Star Conference is a tailored event designed to empower and support successful women in the real estate industry. This immersive conference offers a unique opportunity for real estate professionals to enhance their skills, network with like-minded industry professionals, and gain valuable insights to achieve superior results. With esteemed speakers such as Olympic Medalist Amanda Beard, SVP Operations at Angel Oak Mortgage Solutions Alysse Prosnick, and Managing Editor at Mortgage Women Magazine Kelly Hendricks, attendees can learn from industry leaders and share experiences in an environment that fosters lifelong connections. This conference will help to sharpen abilities, build relationships, and enhance business in the mortgage industry.
10. Digital Mortgage 2023
September 26-28, 2023 | Wynn (Las Vegas)
Digital Mortgage 2023 is a leading event that assists businesses in transforming the mortgage industry by providing actionable insights and effective networking opportunities for industry professionals. The real estate leaders and managers will be able to connect with the mortgage community and collaborate to address the industry's digital evolution by attending this event. In addition, participants will learn how to prioritize personalization in mortgage portfolio management and how data contributes to a more personalized customer lending experience.
Conclusion
The real estate industry faces several challenges, including adapting to technological advancements, changing consumer demands, and environmental concerns. These challenges make it difficult for professionals to stay competitive and profitable. However, attending industry conferences can help professionals gain a futuristic approach to tackling these challenges. The events provide access to experts and valuable insights into commercial real estate new trends, technologies, and sustainability practices that can help businesses stay ahead of the competition. Additionally, networking opportunities at these conferences can help real estate professionals build essential relationships to develop their portfolio performance further and manage real estate assets.
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Real Estate Technology
Article | July 18, 2022
The construction industry, whether operating at the building level, infrastructure level, or city level, has undergone significant changes over the past decade, and the pace of change has only intensified in the past year. Opaque operating models are giving way to digitalization and transparency in every aspect of the industry, leading to better accountability of the business stakeholder ecosystem and better experience and quality of life for the end customers.
The value realization for the sector is coming in three different ways, each with its set of technologies, tools, systems, and processes that lead to specific value maximization.
1. Connected Stakeholder Ecosystems
Every stakeholder and their interactions and service provision to building and construction has been digitalized and automated.
Architects, urban planners, designers have long been using tools and technologies. The use of 3D modeling and visualization, AR/VR platforms, and drone mapping are creating intuitive means to fast-track the design iteration process and reduce errors. Innovation has been happening in building materials and technologies for smart logistics and inventory management, which is digitalizing the procure to pay cycles and reducing the cost and sustainability footprint of the industry. Infratech is being included into civil construction, and information, communication, and operational tech hardware and software solutions are being integrated at the design stage itself.
The industry uses the services of a network of internal and external third party providers and managers. The combination of mobile and enterprise applications, connectivity, and internet of things devices and variables is connecting these people together. Unified frameworks and digital and AI/ML tools allow seamless construction, management, and optimization of built spaces. The sales process is becoming highly digital with the use of customer relationship management platforms, channel management applications, and digital sales aids that blend AR/VR, 3D visualization, audio, video, and digital.
The governance and financial mechanisms have evolved as well. Government bodies have digitalized and permissions, access rights, and payment mechanisms are increasingly digital. Regulators are moving towards real time sensor based monitoring and centralized digital reporting on effluents and emissions, aiming to improve sustainability metrics. An array of digital and cloud financial management tools, systems, and dashboards allow every aspect of the financial flow to and from entities to be managed, monitored, and optimized.
The users, in both the customer and citizen persona, have become digitally savvy and experiential. The connected and sentient building, infrastructure, and city ecosystem increasingly allows for connected living where many services can already be accessed digitally.
2. Connected Lifecycle Management
The construction industry is using digital and automation technologies at every stage of projects – from design to monetization of building, infrastructure, or city systems. Ingredient technologies such as internet of things, artificial intelligence, block chain, distributed computing, edge and mesh intelligence, cloud computing, big data analytics, and data visualization are allowing the industry to plan better and act predictively.
The Design phase, in addition to using design and planning tools and technologies, is increasingly adopting concepts of wellness, biophilia, and blue-green integrations to blend technology and architecture.
The Build phase has significantly transformed through innovative construction materials and methods, as well as digital, cloud, and sensor based solutions to monitor staff, progress, audits, and errors in construction. The entire land records management system in the country has been digitalized, and plans are underway to use drone based mapping to catalogue all assets and sites at a national level.
The Sell phase is using technologies and platforms that have disintermediated some ecosystem partners and aggregated others, increasing the flow of information, communication, validations, and transactions. From marketing to site visits to legal documentation and commercial transactions, every step has been digitally transformed through a combination of AR/VR, AI/ML, digital, and cloud technologies.
The Operate phase is seeing newer models of maintenance and management of assets over the long term. Tech enabled metering and monitoring allows for discretization of pay per use type of commercial arrangements, which can be digitally contracted and managed. This allows multi-stakeholder and multi-user assets to operate seamlessly. Multiple automation and real time monitoring systems and solutions – whether fully integrated or point solutions, are enhancing visibility and improving efficiency of operational performance.
The Experience phase ensures an interplay of operational and service related systems and technologies allow the users to better access services at building, infrastructure, or city level. There is a lot of emphasis on enhancing customer experience by reducing wait times, improving service levels, creating areas and systems for interaction and engagement, and delivering a better quality of work or life to the end user.
The Monetization phase is increasingly at the top of mind of administrators, owners, and operators of construction assets. Long return on investment cycles and complex modes of deployment of public and private capital predicate focus on easing the flow of money and identifying multiple modes of monetization to ensure that projects can succeed. Value added services through retail, advertising, data, or service based use cases are allowing for recurring revenues to be generated. Many of these services can be digitally conceptualized, delivered, and managed.
3. Connected Systems and Services
Buildings and infrastructure spaces are increasingly envisioning themselves as an interconnected system of functions, utilities and services, all managed centrally and digitally through a building level control room or an infrastructure or city level integrated control and command center.
The set of technologies first adopted for smart cities - such as networking and connectivity; smart management of water, waste, lighting, power, sewage, air quality and emissions; smart access to services and retail; interconnected mobility, parking, and traffic management; and managing request-response systems and on-demand servicing and issues management - are increasingly becoming important for buildings and infrastructure projects. Transport hubs are reimagining themselves as microcities. Road assets are creating logistics hubs and multiple digital monetization channels. Buildings are transforming into mixed use spaces that are accessed and managed digitally. On-demand, surge, discounted pricing mechanisms rely on complex algorithms and predictive forecasts.
Multiple indices and standard comparative metrics are being considered by users, governments, regulators, and financiers of patient long-term capital. At the building level, Green ratings and Well Building standards are being measured and reported, and creating methods of differentiating premium and non-premium buildings. Global Infrastructure rankings rate countries in the quality and density and access of road, transport, utilities, and other major infrastructure systems and projects. Ease of Living Index and Sustainable Development Goals create the benchmarks to measure and monitor the performance and impact of city systems. Increasingly, gamification through Swachh Survekshan, Municipal Performance Index, and other city, state, and national level assessments is creating awareness and improving service levels. The indices themselves rely on a set on technology inclusion within projects and technology systems to aid performance measurement.
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Home and Design
Article | August 26, 2021
Considering a remodeling project? Before getting started, establish a list of return on investment (ROI) goals, because not all home improvements are created equal. Some add value to the home that can be recouped when selling, while others may be nice to have but are unlikely to raise the home's asking price. Anyone who wants to focus on home improvements that will pay for themselves when selling the home should know which projects to avoid. Read on to learn about three home improvement projects with a strong return on investment.
Upgraded Landscaping
For homeowners looking for a better price when they sell, it's hard to go wrong with landscaping. This is one of the few home improvements that typically yields a positive return when selling the home. On average, homeowners can recoup 150% of what they spend updating a home's landscaping.
Since curb appeal is a huge factor in selling a home, choose improvements that can be seen from the road for the best return. Resodding or reseeding a lawn is a project that typically provides good returns. In an arid climate like Nevada, consider landscaping with native plants, xeriscaping, and other eco-friendly desert landscaping options to reduce water usage and maintenance requirements.
Adding new trees to the landscaping can pay off now and at the time of sale. Trees provide shade and natural cooling, which can take a chunk out of power bills. When selling, trees add between $1,000 and $10,000 to the selling price of a home.
Creating a Dazzling Entryway
Continue the strong first impression by creating a welcoming space in the entryway of the home. Upgrading to manufactured stone veneer has a return on investment of around 96%. The improvement is relatively simple but makes the front door and the surrounding area more dramatic.
Even small improvements can have a big impact. Upgrade to a metal door or one with small windows that let in additional light. Find upgraded house numbers that are visually appealing and easy to see. This often costs less than $100 but can improve the look and feel of the entry area and practically pay for itself when it's time to sell.
Minor Kitchen Remodeling
The kitchen is the heart of the home. This is the room that is one of the top choices for home improvement projects. However, contrary to what one might expect, huge kitchen overhauls don't always yield a high ROI. In fact, less costly improvements typically have a better payoff. Small projects that can dramatically improve a kitchen include:
Repainting
Refacing the cabinets and adding updated hardware
Replacing countertops
Upgrading to more energy-efficient appliances
Choosing more energy-efficient appliances is an upgrade that can start repaying itself right away. Other improvements are likely to increase the price of the home when it sells. However, on average, kitchen remodeling projects only bring in 77% of their cost when it's time to sell. Because of this, homeowners should focus on upgrades that improve their quality of life and what they are likely to get back for their investment.
Some common mistakes can reduce what a homeowner will get back from a kitchen remodeling project. Investing large amounts of money on items that will need to be replaced again in a few years is unlikely to provide a positive return. Choosing items that are too high-end can cause them to clash with the look and feel of the rest of the home, which could turn buyers off.
Improve Daily Life and ROI With These Home Improvement Projects
Most home improvement projects do not pay for themselves in full when selling the home. Rather, they are changes that make the home worth more to the owner now, that have the bonus of a price increase when you sell the home. The right home improvement project can make any house feel like a new construction home.
Homeowners should look to areas that will give them the most mileage when picking updates for their homes. For instance, old kitchen cabinets can make the room feel dull and uninviting. Refacing with a bright new finish can make the kitchen feel like a brand-new room. Adding low-maintenance shrubs to the front yard adds visual interest that can be enjoyed right away. Projects that require special permits could raise questions during a home inspection and potentially reduce the home's value—but properly permitted additions may let homeowners list a home with an extra bedroom or bathroom.
Choose the updates that will provide the most meaningful benefits, both now and at the time of sale. By making the home inviting and attractive, sellers are more likely to be able to name their dream price.
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