California Home Sales Remain Stable in March

California Association of Realtors | April 17, 2019

California Home Sales Remain Stable in March
According to the California Association of Realtors, lower interest rates in more than a year have boosted California's housing market and kept home sales level in March 2019, after an exceptionally strong performance the previous month.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 397,210 units in March, according to information from C.A.R. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

Spotlight

Members of the ActiveRain community (approximately 1500 of them) responded to a question on what hidden gems create the most value in a home, and the result is this great infographic that you can share for free with your clients

Related News

REAL ESTATE TECHNOLOGY

CREC Real Estate, LLC and Rincon Capital Partners Acquire NEXTLoft Apartments, a Hilton Head-Area Class B+ Multifamily Community

CREC | June 17, 2021

CREC Real Estate, LLC announced today that it has partnered with Rincon Capital Partners to buy NEXTLoft Apartments, a 148-unit Class B+ multi-family property in Bluffton, South Carolina. The transaction's terms were not disclosed. The three-story, two-building complex is located at 1376 Fording Island Road (or US 278, which gives access to Hilton Head Island) in Bluffton, South Carolina, 20 miles north of Savannah, Georgia. It is part of the Hilton Head/Bluffton/Beaufort metropolitan region. Over the last 20 years, the surrounding area's population has increased by more than 50%, primarily due to an inflow of retirees, generating housing demand for service industry workers who staff the area's resorts, shops, and restaurants. NEXTLoft, which was constructed in 2000 as an extended stay hotel, had a significant makeover in 2019 and was transformed into a boutique apartment community. The studio and one-bedroom apartments include nine-foot ceilings with crown molding, wood cabinets, stainless steel appliances, and renovated bathroom vanities. The 98% community has a clubhouse, swimming pool, dog park, and a state-of-the-art fitness facility. In addition, CREC and Rincon plan to upgrade the roof, HVAC, and asphalt and install outdoor amenities and security features such as a central outdoor kitchen/grill area, a locker for package deliveries, and a community-wide keyless FOB access system to improve residents' safety. The building is close to outlet shopping complexes, big-box retail and grocery stores, a public golf course, downtown Bluffton's eateries, boutique shops, and offices. CREC, which manages more than $1 billion in real estate assets, specializes in multi-family real estate investments in secondary and tertiary cities around the United States. Rincon is a vertically integrated, full-service real estate and property management firm based in Phoenix. CREC and Rincon have previously worked together on three joint projects, two in Tucson and Phoenix. About CREC CREC Real Estate, LLC (CREC) is a private investor in commercial real estate. Based in Columbus, Ohio, the firm invests through institutional funds and private placements and manages more than $1 billion in real estate assets. The firm specializes in the multi-family, hotel, and senior housing sectors in secondary and tertiary locations around the United States, utilizing a value-add strategy. CREC has completed approximately 50 investments throughout 17 states since its establishment in 2001. ABOUT RINCON Rincon Partners is a full-service, vertically integrated real estate investment and management firm. Rincon is based in Phoenix, Arizona, with acquisition offices in Atlanta, GA, and Dallas, TX, and focuses on opportunistic and value-add multi-family and self-storage commercial real estate.

Read More

Williams & Williams Set to Auction Surplus Real Estate for Archrock in Texas, Louisiana and Pennsylvania

prnewswire | September 03, 2020

Williams & Williams, a worldwide real estate auction firm and leader in global live and interactive auctions, will auction several surplus real estate properties for energy midstream company Archrock Services L.P. (NYSE: AROC). Listings include warehouse, office space, and land parcels for auction on September 29. The vacant residence in New Castle, PA will sell in an online only auction Sept 28-30 at AuctionNetwork.com. The auctions are being offered in conjunction with commercial broker JLL.

Read More

REAL ESTATE INVESTMENT

Matthews™ Broadens Capital Advisory Services with Acquisition of Cadence Capital Partners

Matthews Real Estate Investment Services | August 18, 2021

Matthews Real Estate Investment Services, a commercial real estate investment services and technology firm, today announced the acquisition of one of the industry’s most respected capital advisory firms Cadence Capital Partners, a company with a significant track record in the institutional and private client capital market space. With Cadence joining the firm, Matthews will now offer a full suite of capital solutions to solve every real estate funding need through the Matthews Capital Markets Division. Cadence was founded in 2017 by real estate executives, Michael Bennett and Jay Soave. Cadence arranges equity and debt across all commercial property types. The company is unique to the industry as it focuses on equity first, partnered with a robust debt execution platform. With offices in Denver and Chicago, the firm excels in identifying capital sources outside the usual groups looking for opportunities, distinguishing themselves as a go-to authority for sourcing capital. They have originated and executed over $2.4 billion in transactions and placed over $850 million in equity and debt. Kyle Matthews, Chairman & CEO of Matthews Real Estate Investment Services, stated, “We are pleased to announce and welcome Cadence principals and supporting employees to our growing Matthews™ roster. This signifies another step in our aggressive growth as we continue to expand and elevate our client relationships through expanding service lines.” David Harrington, Executive Vice President & Managing Director, added, “We look forward to not only making a meaningful impact in the equity space but also growing our overall presence in the Denver and Chicago markets across all Matthews service lines. We are also amid additional capital markets initiatives that will propel the Matthews™ platform into the future. These additional announcements will be public soon.” The equity service line under the Matthews Capital Markets Division will solve one of the most vexing aspects of real estate acquisition by bringing equity solutions in-house. Michael Conway, along with JT Johnson, will be Vice Presidents of the equity service line and complement the Matthews investment sales platform, providing fully integrated commercial real estate solutions. John Heitmann, also from Cadence, will be an integral part of the expanding presence in debt origination for Matthews™. Both Michael Bennett and Jay Soave will serve as executives and continue to help grow and advise the strategic direction for the division. Matthews™ is committed to redefining the brokerage experience and providing industry-leading advisory and support to clients. With this announcement, Matthews™ will also be expanding services to both Chicago and Denver markets. About Matthews Matthews Real Estate Investments Services, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned in over ten offices across the United States, Matthews continues to expand into new markets.

Read More

Spotlight

Members of the ActiveRain community (approximately 1500 of them) responded to a question on what hidden gems create the most value in a home, and the result is this great infographic that you can share for free with your clients