California Home Sales Hit 10-Year Low in Early 2019

California Association of Realtors | February 21, 2019

Based on a new report by the California Association of Realtors, housing demand in California remained subdued for the ninth consecutive month in January 2019 as economic and market uncertainties sent home sales to their lowest level since April 2008.Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 357,730 units in January, according to information collected by C.A.R. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the January pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

Spotlight

The National Association of REALTORS® released the 2018 Profile of International Transactions in U.S. Residential Real Estate, which profiles top five countries of origin for foreign home buyers and how these buyers are utilizing the services of REALTORS.

Spotlight

The National Association of REALTORS® released the 2018 Profile of International Transactions in U.S. Residential Real Estate, which profiles top five countries of origin for foreign home buyers and how these buyers are utilizing the services of REALTORS.

Related News

REAL ESTATE INVESTMENT

Texas-Based Real Estate Investment Group Acquires 3 Large Multifamily Assets in San Antonio, Texas

DJE Texas Management Group | June 14, 2022

DJE Texas Management Group (DJE), a vertically integrated real estate investment and management company based in San Antonio, has closed on The DJE North Portfolio. The North Portfolio contains 600 apartment units throughout three apartment communities in North Central San Antonio. The properties are located at 12221 Blanco Road 7302 University Row 8631 Fairhaven Street The three properties are conveniently located within 15 minutes of each other and are situated ideally amongst DJE's other multifamily properties in the same submarket. DJE Properties, will manage the asset and execute a $5.2M value add business plan that includes a rebrand, property renovations, and operational improvements. Renovations will include the addition of washer/dryer units, amenity upgrades in all units, exterior community building and swimming pool upgrades. This multi-property renovation project will not only enhance the communities in which they are located, but it will also help to meet the city's growing need for quality housing." Devin Elder, Founder, and CEO of DJE Texas Management Group The majority of property improvements are expected to be completed by the end of 2023. To date, the organization has invested in over 5,000 apartment units across 17 multifamily real estate assets. and continues to expand its portfolio. DJE Texas Management Group holds firm to its core values and strives to create passive investment strategies where everyone involved wins. About Devin Elder and DJE Texas Management Group Devin Elder is Founder & CEO of DJE Texas Management Group, a vertically integrated multifamily investment firm based in San Antonio, Texas. Since 2012, the firm has completed hundreds of successful investment projects including many full-cycle multifamily investments. Devin has led his team in the renovation projects that have improved over 5,000 multifamily units. He is a helicopter pilot, a podcast host, and the owner of a real estate consulting firm, and he spearheads the DJE Foundation supporting disadvantaged children in Texas and the Philippines.

Read More

REAL ESTATE INVESTMENT

ExchangeRight Fully Subscribes 26-Property, $134 Million Net-Leased Portfolio

ExchangeRight | May 13, 2022

ExchangeRight, one of the nation's leaders in diversified real estate investments and strategies, has fully subscribed its $134 million Net-Leased Portfolio 52 offering, which features 449,424 square feet of retail, medical, banking and pharmacy tenants. The portfolio was structured to generate accelerating investor distributions starting at an annualized rate of 6.00 percent. Net-Leased Portfolio 52 launched with 10-year, fixed-rate interest-only financing at 3.465 percent. The $134,280,000 offering contains 26 single-tenant properties over 15 states ranging from the southwest to the northeast United States. CVS Pharmacy, Dollar General, Walgreens, Tractor Supply Company and Family Dollar stores as well as First Midwest Bank have multiple locations in the portfolio. Dollar Tree, Fresenius Medical Care, Hobby Lobby, Natural Grocers, Octapharma and Sam's Club also have locations in the 100-percent-occupied portfolio. We are pleased that the diversity and size of our newest DST allows us to accommodate the wealth management needs of investors seeking resilient passive income. We are honored by the trust that investors and their representatives and advisors continue to place in us for their wealth management and retirement needs with each offering we fully subscribe. We are proud to provide another ExchangeRight offering intended to produce stable income through economic cycles, defer taxes, preserve wealth and provide a strategic exit for our investors." Warren Thomas, a managing partner at ExchangeRight ExchangeRight and its affiliates' vertically integrated platform features more than $4.9 billion in assets under management, diversified across more than 1,100 properties, more than 20 million square feet and throughout 46 states. More than 6,800 investors have trusted ExchangeRight to manage their capital. All of the company's current and past offerings have met or exceeded targeted cash flow distributions to investors since the company's founding. The past performance of ExchangeRight and its previous offerings does not guarantee future results. About ExchangeRight ExchangeRight pursues its passion to empower people to be secure, free and generous by providing REIT, fund and 1031 DST portfolios that target secure capital, stable income and strategic exits. The company strategically syndicates net-leased portfolios of assets backed primarily by investment-grade corporations that successfully operate in the necessity-based retail and healthcare industries, as well as diversified value-add portfolios of inline and outparcel retail spaces shadow-anchored by strong-performing grocery tenants.

Read More

HOME AND DESIGN

HomeStars Launches Home Renovation Flexible Refinancing in Partnership with Perch To Help Canadian Homeowners Bring Their Dream Home to Life

HomeStars | May 19, 2022

HomeStars, Canada’s largest network of verified home service professionals, is proud to announce a new partnership with Perch, a technology platform offering homebuyers and homeowners the financial insights they need to build wealth through real estate. This first-of-its-kind partnership will help homeowners find flexible refinancing solutions to fund their renovation and home improvement needs. Through the new partnership, HomeStars offers a refinancing option to Canadian homeowners looking to make home renovations, repairs, or improvements. Homeowners can now receive cash based on the equity in their homes and use these funds for home improvement projects. We couldn’t be more excited to partner with Perch and offer Canadian homeowners flexible refinancing options to fund their home renovations. It’s been a difficult year for Canadians, with the volatile housing market and economic pressures making purchasing newer homes less accessible and forcing many Canadians to stay in their homes longer. This partnership will allow homeowners to increase the value of their homes and make the much-needed improvements to their homes. This is a great opportunity to provide Canadians with an alternative to financing to give them continued comfort in their homes and live in a space they’re proud of.” Shir Magen, CEO of HomeStars The 2021 HomeStars Reno Report reported that 20 percent of Canadians needed financial assistance to execute home renovations, and many put off home improvements due to the daunting costs associated. With the current market volatility, its expected more Canadians will be financially stretched. HomeStars met this growing financial need by partnering with Perch to empower Canadians to execute their home renovations without the upfront investment. Whether it’s Canadians choosing to age in place, convert their home to one that can be multi-generational, or reinvest in their current property due to the current housing market, through this new partnership, homeowners will be able to get quality work done through vetted professionals with a lower financial impact on their monthly budget. Homeowners can access the Perch refinancing calculator on https://homestars.com to help understand their borrowing power while starting a HomeStars service request. After entering your current property value and mortgage information, homeowners will have the ability to view the results and either begin the pre-approval process or chat with a Perch advisor. Once your loan is finalized and you are matched with a verified pro, you can leverage the funds towards your dream home project with a reputable pro. “Perch’s analytics help Canadians get pre-approved for their mortgages and give them insights to understand exactly how much they can afford,” says Alex Leduc, Founder & CEO of Perch. “We saw a connection to the HomeStars online home services platform, and we’re very excited to be working with them. Together, we can help homeowners reach their goals faster.” By leveraging Canada’s largest network of verified home service professionals, HomeStars allows Canadians to choose qualified professionals in their area and have a clear line of sight into home service professionals' ratings and quality of work. Canadian homeowners are well equipped to hire right the first time with a proprietary star score, verified background and finance checks, and manually verified reviews. About HomeStars HomeStars is Canada's largest network of verified and community-reviewed home service professionals. HomeStars empowers Canadian homeowners to hire right the first time for home renovations or repairs by connecting project-ready homeowners with the best pros in their neighborhood. In 2021, 8 million homeowners visited HomeStars looking for a pro for their next home improvement project. HomeStars was created in 2006 to relieve Canadian homeowners’ anxiety and put their minds at ease knowing they’ve hired a vetted, highly rated home service professional. With three distinct trust metrics, HomeStars gives Canadians the confidence of hiring right the first time, can vet pros recommended to homeowners, and allows for searching and requesting for specific home service professionals. HomeStars is based in Toronto, Ontario, and is an operating business of Angi.

Read More