After 7 Years of Gains, U.S. Home Values Fall in April

Zillow | May 20, 2019

According to Zillow's April 2019 Real Estate Market Report, U.S. home values fell from March to April, the first month-over-month decline since February 2012. The typical U.S. home is worth $226,800, down 0.1% from last month. The decline - led primarily by large West Coast markets - comes after 85 straight months of gains that brought home values to record highs. U.S. home values have experienced declines only twice over the past few decades: during the recession of the early 1990s and the Great Recession and housing crisis in the late 2000s.

Spotlight

Despite the US economy reaching its healthiest levels since the 2008 recession, low inflationary policy, and loose borrowing conditions, US consumers are still cautious with spending on goods and buying from retail stores.

Spotlight

Despite the US economy reaching its healthiest levels since the 2008 recession, low inflationary policy, and loose borrowing conditions, US consumers are still cautious with spending on goods and buying from retail stores.

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REAL ESTATE INVESTMENT

NexPoint Announces New Single-Family Rental Initiative

NexPoint | May 20, 2022

NexPoint Advisors, L.P., a multibillion-dollar alternative investment platform, announced the formation of a new NexPoint advised real estate investment trust (REIT). NexPoint is partnering with HomeSource Operations, LLC to acquire, build, and operate single-family rental homes in the REIT. The new NexPoint advised REIT will target both existing SFR homes and new construction build-to-rent homes in high-growth markets. In acquiring existing SFR homes, the new NexPoint advised REIT will focus on homes built no earlier than 2000. Through strategic developer and builder relationships, the REIT will also target new construction BTR homes. The REIT will focus primarily on high-growth secondary and tertiary markets throughout the Sunbelt and Southeastern portions of the United States. For NexPoint, the parent of the adviser to one of the largest owners of SFR homes in the U.S., this new initiative will help NexPoint further expand its exposure to SFR. NexPoint expanded into the SFR market in 2018 and, through an affiliate, is the adviser of a REIT that now owns and operates more than 22,000 homes. This new initiative also presents NexPoint with unique opportunities to leverage its broad range of capital markets capabilities to help bring creative financing solutions to acquisitions of SFR and BTR homes. Currently, the new REIT has an existing portfolio of more than 1,000 homes, which NexPoint expects to grow to several thousand homes by year end. NexPoint views the SFR sector as a core part of our platform and we are pleased to announce a partnership with a quality operator like HomeSource that will allow us to broaden our exposure to this critical sector and expand our SFR platform into new segments." Matthew McGraner, Chief Investment Officer for NexPoint Randy Hagedorn, Chief Executive Officer of HomeSource said, "We are grateful to have a partner in NexPoint that understands the need to be entrepreneurial and flexible as we acquire SFR and BTR Homes in the REIT. We look forward to our partnership and using our collective experience and expertise to grow the REIT's portfolio." About NexPoint NexPoint is a multibillion-dollar alternative investment platform comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. The firm provides differentiated access to real estate and other alternatives through public and private REITs, 1031 exchanges and other tax-advantaged real estate vehicles, closed-end funds, interval funds, and a business development company (BDC). Investment solutions draw on NexPoint's core capabilities in real estate, capital markets, and credit. Within real estate, NexPoint has expertise across multiple property types, including multifamily, single-family rental, self-storage, hospitality, industrial, office/retail, timber, and life sciences. NexPoint is based in Dallas, Texas and is part of an integrated network of investment management and financial services businesses.

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REAL ESTATE TECHNOLOGY,REAL ESTATE ADVICE

Offerpad Helps Simplify the Home Mortgage Experience with New Mobile App

Offerpad | August 02, 2022

Offerpad, a leading tech-enabled platform for buying and selling residential real estate, today revealed a new mobile app that simplifies the home loan process to make it less time-consuming and overwhelming for borrowers. Digital tools designed for on-the-go efficiency, combined with the personal touch of Offerpad’s home loan and refinance experts, provide borrowers with a seamless journey to homeownership. "We have financing solutions to help make buyers’ dreams of home ownership a reality. Whether you’re a first-time buyer or need to sell before you buy, Offerpad can help you get the home you want with financing solutions to fit your unique needs. With our new mobile app, we're taking the mortgage process from time-consuming to timesaving" - Offerpad Vice President of Home Loans James J.R. Samsing. Offerpad’s new mobile app removes complexity and friction from the home loan process to provide borrowers with valuable benefits: Customizable and flexible loan application process Navigate the application process from the mobile app, online portal or toggle back and forth for a flexible and frustration-free mortgage experience. Easily access loan applications, complete tasks, securely scan, upload and e-sign documents, check on loan progress and communicate with an Offerpad loan officer – all from a single login. Securely and quickly submit loan documents from any mobile device. Fast and transparent pre-qualification and pre-approval Access loan products, pricing scenarios, quotes and rates from anywhere. Push notifications provide immediate transparency into loan progress, including pre-qualification or pre-approval status. In-app notifications for critical requests and required tasks ensure faster loan processing. Sell, buy and finance together to save thousands Bundle to save up to $4,000 when combining Offerpad’s sell and buy solutions with financing from Offerpad Home Loans. Borrowers can find a mortgage and keep the rate for up to 90 days for certainty and control while home shopping. About Offerpad Offerpad’s mission is to deliver the best home buying and selling experience so you can spend less time ‘real estat-ing’ and more time living. From cash offers and flexible listing options to mortgages and buyer services, Offerpad has been helping homeowners since 2015. We pair our local expertise in residential real estate with proprietary technology to put you in control of the process and help find the right solution that fits your needs. Offerpad’s real estate solutions are available in 28 U.S. markets and more than 1,800 cities and towns across the country. Visit Offerpad.com for more information.

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REAL ESTATE INVESTMENT

Gray Capital Purchases 406-Unit Apartment Property, the Second Asset in 100M Multifamily Fund

Gray Capital | June 30, 2022

Multifamily investment firm Gray Capital has closed on their acquisition of Club Meridian Apartments, a 406-unit property located in Okemos, MI just east of Lansing, MI. Gray Capital intends to make strategic upgrades at the property, including siding and asphalt repairs, pool upgrades, re-painted balconies, new signage, and other exterior enhancements to boost the curb appeal of the property. Additionally, interior renovations like modern appliances, new flooring, and upgraded countertops will significantly increase the value of the asset and elevate its position in the rental market. Club Meridian is already a well-maintained property, and this solid foundation will allow us to dedicate our resources to those renovations and improvements that are most important to residents and the quality of the property itself." Spencer Gray, President and CEO of Gray Capital George Tikijian, Hannah Ott, and Cameron Benz of the Indianapolis Cushman & Wakefield represented the seller in the transaction, with Gray Capital representing itself. Club Meridian is the second property within Gray Capital's $100 million multifamily investment fund, The Gray Fund, and follows the acquisition of Indianapolis apartment property Stonybrook Commons one month prior. The acquisition of Club Meridian and Stonybrook Commons in 2022 adds to Gray Capital's $600+ million in assets under management and more than $1 billion in commercial real estate projects to date since its founding in 2015.

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