Colorado's Kentwood Real Estate bought by Berkshire Hathaway affiliate

June 23, 2016 | 208 views

HomeServices of America, an affiliate of Warren Buffett's Berkshire Hathaway Inc., has acquired Colorado residential real estate company Kentwood Real Estate, one of the biggest brokerages in metro Denver. As part of the deal, HomeServices of America also acquired Kentwood's affiliated rental and commercial businesses. Terms of the deal were not disclosed.

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Redink Homes

Redink Homes was established in 2006. The company set out to deliver real service by enabling customers to make as many changes as they felt necessary to get the right home to fit their lifestyle. We continue to build on our reputation for outstanding service and giving customers what they want. We have been the fastest growing builder nationally on more than one occasion and still experience strong growth.

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REAL ESTATE TECHNOLOGY

3 Ways to Simplify Leasing Out Your Commercial Property

Article | July 25, 2022

You have a commercial property and you need to lease it as soon as possible. In an ideal world, you would find a client as soon as your property is vacant. But we do not live in an ideal world. As a property owner or manager, you need to list your property, get the right contacts, and find a buyer who is ready to occupy immediately at a price that's efficient to you. It can be a tedious journey. That’s where a broker comes in. Filling your vacant properties is essential but navigating a labyrinth of procedures shouldn't keep you occupied, which is whyleveraging a brokernetwork is so important. Here are three ways you can connect with brokers to make the most of their services. Updating Your Inventory List If you've tried handing a PDF of your current available listings, you might want to reconsider your approach for better chances of success. Brokers must be aware of the properties you have available if you want them to consider yours. The issue with online CRE listings is that many of them are outdated. This may cause a broker to think they’ve found an ideal property for their client, only to discover it’s already leased out. This doesn’t make a good impression. In addition, static listings are not search-friendly. To cut to the chase, deploy a search-ready, updated portfolio. Simplifying things for brokers will keep them coming back and contribute towards building a positive association with them. Sharing an Inventory List Right to Their Inbox Simplifying property search isn’t all. What are you doing to make a broker’s life much easier? You don’t need to spend a ton on proptech to reach out to brokers on time. Set up a commercial real estate email list that directly emails your updated listings to the brokers, providing them with timely alerts on when a new property is on the market or reminding them that an existing listing is still available. Providing Easy Access to the Property Information Regular emails about your updated property portfolio is bound to keep brokers engaged and informed. Going a step further, you can create a mobile-friendly property information page for each of your CRE properties to ensure that brokers have all the information they need at their fingertips. This avoids any bottlenecks caused by having the wrong information or no information at all about the specifications of your properties. A Final Word of Advice One of the most effective things commercial property owners can do to guarantee their properties are continuously leased is to engage with brokers, keep them updated, and simplify ways for them to interact with your property.

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REAL ESTATE TECHNOLOGY

The Economic Slowdown and Its Impact on the Housing Market in 2022

Article | July 21, 2022

A survey by CNBC revealed that only 24% of survey participants thought the economic conditions in the country were good in 2021. Down from 50% in 2019, Americans are losing confidence in the economy fast, which has largely impacted the housing market. The COVID-19-led recession is still getting heated, and the Federal Reserve attempted to assuage these concerns with its commitment to bringing down inflation. However, this does bring up a myriad of possibilities for the housing and real estate industry. Here are some ways the economic slowdown might impact the housing market in 2022. An Increase in Bad Debts and Vacancy Rates The economic slowdown will no longer exacerbate layoffs, especially in the entertainment, hospitality, retail and education industries. Multifamily homes may experience an increase in vacancies, especially in areas where these industries are major employers. The intense supply chain disruption is bound to impact economies worldwide. Many tenants who work in these industries may be forced to look for cheaper housing, which will create an exponential increase in the vacancy rates. Additionally, since non-payment of rent constitutes a bad debt, there will be an increase in bad debt. Moreover, suitable new tenants might not be available to replace those who are evicted for bad debt due to unemployment. Exponential Demand for Local Equity There may be a bright side to the chaos caused by the economic slowdown. It will result in an increase in the internal capital flow for real estate. Owing to the fact that the real estate market is considered a safer investment option, many stock investors will redirect their investments from the stock market to real estate. Local U.S. investors will put more money into multifamily properties, which can offset the dip in demand for multifamily real estate, leading to a stabilization in prices or avoiding a significant decline in property values. Dip in Commercial Real Estate Prices As foreign equity, which is continually searching to buy real estate in the United States, encounters difficulties accessing U.S. markets, we will observe a decline in the price of commercial real estate. Foreign investors can demand greater prices for multifamily properties since their expectations are often significantly lower than those of domestic investors. The demand for multifamily buildings will decrease as foreign investments in the American market fall, leading to reduced pricing. Bringing it Together The recession brings with it immense uncertainty. Despite this, the impact on the housing and real estate markets can be predicted by looking at historical patterns. The big picture is that buyers need to be cautious when investing but also consider the tremendous opportunity they can leverage during the recession.

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REAL ESTATE TECHNOLOGY

Hybrid Composite Technology- the Dark Horse of the Indian Infrastructure Sector

Article | July 18, 2022

Infrastructure development is directly proportional to the economy and is a key indicator of economic growth. World powers have heavily invested in infrastructure development to support the system and other varied sectors of the economy. The Indian construction sector, in particular, has been significantly affected by the pandemic. However, this year will be fruitful, as the sector appears poised to regain growth and seize various opportunities with the ease of global markets. The Indian construction sector began the year with DRDO partnering with Maiwir Engineering to complete a 7-storey state-of-art research facility at the Aeronautical Development Establishment campus in Bengaluru, spreading across 1,30,000 sq. ft. in a record timeline of 45 days using hybrid construction technology. The quest for a greater economy, concerning material costs and reduced construction timelines, has resulted in innovative solutions that seek to combine construction materials and methods to an optimum effect. One such adaptation is the use of hybrid construction technology. Hybrid construction technology is a mix of conventional and pre-engineered methodology, using a combination of structural steel and reinforced concrete to form an efficient and sustainable design model. The highest level of optimization is achieved in resolving complex engineering problems in well planned phases. First, the structural steel members and partial pre-cast members are manufactured off-site at a factory yard. In the second phase, ready-to-assemble members are transported to the construction site, and in the third phase, they are installed in a calibrated manner using machinery. Decoding this Innovation The hybrid construction technology is a highly flexible building system. It is composed of horizontal and vertical structures, which can be used either separately or as part of a system depending upon the required standards. It is a global, effective, and cutting-edge solution for industrial, commercial, and residential structures, as well as large works, infrastructures, facilities, renovation, and conservative restoration. An offsite precast yard is setup for the fabrication and assembling of precast elements. Once all the members are installed to form a structural frame, a cast in-situ concrete pour is done monolithically to achieve the structural integrity. The Way Forward The main areas of focus in the near future are high-rise buildings for commercial, residential, educational institutions, hospitals, data centers, and urbanization of logistic corridors. Just like India’s space program "mission to Mars," the mission to build can happen at a fraction of the cost with local materials and skill-developed teams, and we shall target and improve the country’s GDP growth with infrastructure development and spending. Over the past 3 decades in India, there has been a quantum jump in construction technology, especially in steel structures related to design concepts, erection methodology, manufacturing, section profiles, code provisions, etc. The evolution of composite structures is one such revolution, which has gained significant importance and has mostly replaced conventional construction techniques. Application of Hybrid construction technology High Rise Residential & Commercial buildings Hospitals & educational institutions Bridges Seaports & airports Data centres Recreational centres The industry can reap the benefits of both worlds of conventional concrete construction and precast structural construction. This new combination of technology ensures flexibility in terms of design and also faster project deliverables without compromising quality and onsite safety. It has proven to produce high-quality structures in record timelines, resolving complex engineering projects to cater for the rapid growth of infrastructure in the country. The Importance of Hybrid Construction Technology No or minimal wastage during the construction phase, which roughly accounts for 1–5% in conventional RCC buildings. Improved structural integrity Faster construction reduces the timelines by up to 60% Optimized resource utilization Wind loads & seismic load resistant Significant reduction in construction costs While fast-growing economies like China and other developed economies in Europe and the Middle East are adopting technological advancements for constructing complex engineering projects and residential structures, with this revolutionary technology, India can witness itself on the global map as a developed economy by building faster and more economically efficient structures than any other global power.

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REAL ESTATE TECHNOLOGY

3 Proptech Trends That Are Making Waves in the Real Estate Industry

Article | July 6, 2022

Proptech, or property technology, comprises digital solutions that help facilitate buying, selling and leasing of commercial real estate. It is also called CREtech or REtech for commercial real estate technology, respectively. It usually refers to the digital tools and software used in real estate. With digitalization growing at an exponential rate across the real estate sector, proptech is evolving, here are three topmost trends in proptech that real estate solution providers must keenly follow. 1 3D House Tours Both prospective buyers and real estate agents love this technology. 3D house tours simulate a real house tour and can be viewed either on virtual reality (VR) headsets or one’s computer screen. They simplify initial interactions by enabling users to confirm their interest in a property, saving both time and visits for buyers and agents. They also allow agents to better market their properties and schedule multiple visits from the comfort of their offices. The ensuing process ensures that agents are able to provide realistic walkthroughs of their properties and eliminate friction from the get-go, making the showing as painless as possible. 2 Automated Service Desks Exceptional customer service is the name of the game in real estate and agents are expected to provide their clients with white glove service wherever possible. Conversational AI is one way that many real estate solution providers are achieving this. With round-the-clock contact channels to assist clients with the information they need, agents and brokers are better equipped to deal with queries and reduce their response time. The automation of menial tasks also ensures that they don’t have to be everywhere all the time. 3 Digital Transaction Management Real estate comes with its share of sky-high paperwork. With digital transaction management, agents can now reduce the significant amount of legwork that goes into managing paperwork. It also helps in signing documents digitally, which means physical presence isn’t needed to execute agreements and registration processes, making the process smoother and faster. Real estate clients with multiple properties will no longer need to be inundated with massive amounts of paperwork and travel. For the Record Digitalization is transforming industries at lightning speed and real estate is a frontrunner in adopting new technologies. The impact that proptech has on RE is visibly vital. The above trends are revolutionizing the real estate technology landscape. Keep an eye out to see how these trends change the way people buy and sell property.

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Spotlight

Redink Homes

Redink Homes was established in 2006. The company set out to deliver real service by enabling customers to make as many changes as they felt necessary to get the right home to fit their lifestyle. We continue to build on our reputation for outstanding service and giving customers what they want. We have been the fastest growing builder nationally on more than one occasion and still experience strong growth.

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BROKERAGE

Berkshire Hathaway HomeServices Expands its Footprint in Florida

Berkshire Hathaway | April 13, 2022

On April 12th, leading real estate brokerage network announced the expansion of its presence in Florida with the launch of Berkshire Hathaway HomeServices Palm West Realty. This will be the organization’s 13th franchise network in the state of Florida. Industry veterans Fred Lewers and Lou Delgado will be the co-owners of the firm. It will cater to the residential and luxury real estate market in the state in areas such as Flagler, St. Johns, and Volusia Counties. Fred, who is originally from Staten Island, NY was a former firefighter with the city and retired after 20 years of service. He also served in the U.S. Army Reserve and retired as a Sergeant Major after 26 years. Lou moved to Palm Coast from east Setauket, New York almost 42 years ago. He managed and owned Tropicana Products distribution routes. Lou commented, “Providing our clients with an extraordinary experience from start to finish is at the core of everything we do here. Aligning with the Berkshire Hathaway HomeServices global brand will allow us to reach new heights in real estate. We are excited to reach new potential.” Palm Coast was recently designated the #1 retirement community, making it a local hotspot. We are pleased to welcome Lou, Fred, and the entire team to real estate's Forever Brand. The team has been in the market for over 40 years and are well-equipped to represent the significant number of high-net-worth individuals and families coming to the market.” Christy Budnick, CEO, Berkshire Hathaway HomeServices As part of the network, agents of the Berkshire Hathaway HomeServices Palm West will gain access to the parent organization’s active relocation and referral network and its suite of cloud technology.

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Nation's Leading Real Estate Brokerage Taps Oracle as it Modernizes Home Buying and Selling

HomeServices of America | March 19, 2019

HomeServices of America, a Berkshire Hathaway affiliate and one of the country's premier providers of homeownership services, has selected Oracle Cloud to power the reimagination of the home buying and selling process. With Oracle Cloud, HomeServices is transforming its operating model to enable its affiliated brands to offer a superior customer experience. HomeServices is a national network of market-leading residential real estate brokerage, mortgage, title, escrow and insurance companies. To ensure it could empower its growing network of companies with the innovation and excellence to stay ahead of evolving expectations, HomeServices sought to modernize the purchase experience for home buyers and the process by which real estate agents are servicing them. To automate that process, HomeServices selected Oracle as its partner to help it put people and relationships first and revolutionize homeownership.

Read More

BROKERAGE

Berkshire Hathaway HomeServices Expands its Footprint in Florida

Berkshire Hathaway | April 13, 2022

On April 12th, leading real estate brokerage network announced the expansion of its presence in Florida with the launch of Berkshire Hathaway HomeServices Palm West Realty. This will be the organization’s 13th franchise network in the state of Florida. Industry veterans Fred Lewers and Lou Delgado will be the co-owners of the firm. It will cater to the residential and luxury real estate market in the state in areas such as Flagler, St. Johns, and Volusia Counties. Fred, who is originally from Staten Island, NY was a former firefighter with the city and retired after 20 years of service. He also served in the U.S. Army Reserve and retired as a Sergeant Major after 26 years. Lou moved to Palm Coast from east Setauket, New York almost 42 years ago. He managed and owned Tropicana Products distribution routes. Lou commented, “Providing our clients with an extraordinary experience from start to finish is at the core of everything we do here. Aligning with the Berkshire Hathaway HomeServices global brand will allow us to reach new heights in real estate. We are excited to reach new potential.” Palm Coast was recently designated the #1 retirement community, making it a local hotspot. We are pleased to welcome Lou, Fred, and the entire team to real estate's Forever Brand. The team has been in the market for over 40 years and are well-equipped to represent the significant number of high-net-worth individuals and families coming to the market.” Christy Budnick, CEO, Berkshire Hathaway HomeServices As part of the network, agents of the Berkshire Hathaway HomeServices Palm West will gain access to the parent organization’s active relocation and referral network and its suite of cloud technology.

Read More

Nation's Leading Real Estate Brokerage Taps Oracle as it Modernizes Home Buying and Selling

HomeServices of America | March 19, 2019

HomeServices of America, a Berkshire Hathaway affiliate and one of the country's premier providers of homeownership services, has selected Oracle Cloud to power the reimagination of the home buying and selling process. With Oracle Cloud, HomeServices is transforming its operating model to enable its affiliated brands to offer a superior customer experience. HomeServices is a national network of market-leading residential real estate brokerage, mortgage, title, escrow and insurance companies. To ensure it could empower its growing network of companies with the innovation and excellence to stay ahead of evolving expectations, HomeServices sought to modernize the purchase experience for home buyers and the process by which real estate agents are servicing them. To automate that process, HomeServices selected Oracle as its partner to help it put people and relationships first and revolutionize homeownership.

Read More

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