Mortgage Applications in U.S. Dip in Mid-June

Mortgage Bankers Association | June 24, 2019

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 14, 2019, U.S. mortgage applications decreased 3.4 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week.

Spotlight

The questions real estate professionals typically have when using social media to their advantage are how to begin, how to build, and where to focus. The Impact of Social Media in Real Estate survey reveals that more than 87 percent of respondents are using social media for their businesses, and for a variety of different purposes.

Spotlight

The questions real estate professionals typically have when using social media to their advantage are how to begin, how to build, and where to focus. The Impact of Social Media in Real Estate survey reveals that more than 87 percent of respondents are using social media for their businesses, and for a variety of different purposes.

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REAL ESTATE INVESTMENT

Terreno Realty Corporation Acquires Property in Newark, NJ for $11.9 Million

Terreno Realty Corporation | May 23, 2022

Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property in Newark, New Jersey on May 19, 2022 for a purchase price of approximately $11.9 million. The 2.4-acre improved land parcel at 127-167 and 147-163 Doremus Avenue is adjacent to Exit 15E of the New Jersey Turnpike and Terreno Realty Corporation’s 85 and 87 Doremus Avenue properties. The property is 100% leased on a short-term basis to one tenant and the estimated stabilized cap rate is 6.9%. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. AboutTerreno Realty Corporation Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.

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REAL ESTATE TECHNOLOGY

@properties Acquires Real Estate Technology and Advisory Firm Suburban Jungle Group

@properties | July 08, 2021

@properties, one of the nation's largest residential brokerage firms, announced today the acquisition of Suburban Jungle Group (Suburban Jungle), a real estate technology and advisory firm that helps home buyers identify the best suburbs or neighborhoods for their specific needs before matching them with a vetted real estate agent. Suburban Jungle, based in New York, presently serves nine major U.S. metropolitan regions. Suburban Jungle founder and president Alison Bernstein will continue to manage the company, according to @properties co-CEOs Thad Wong and Mike Golden. In addition, the firm will continue to operate independently, with its strategists recommending clients to real estate agents based on the agents' local knowledge and proven commitment to Suburban Jungle's buyer-advocacy model. Suburban Jungle was established by Bernstein in 2004 when he was a student at Columbia Business School. The company was her answer to determining which of the 500 towns and suburbs in New York City would be the best match for her family. Highly experienced Suburban Jungle strategists suggest locations for their customers based on in-depth client interviews, technology, and extensive local experience. The strategist works with both parties after recommending the buyer to a real estate agent until the buyer finds a house. The Jungler app from the company adds another degree of efficiency by enabling the buyer, agent, and strategist to exchange resources, schedule appointments, interact with locals, and provide feedback. Suburban Jungle is currently available in the following cities: New York, Chicago, Dallas/Fort Worth, Philadelphia, San Francisco, Boston, Washington, D.C., South Florida, and Austin. The company also provides an Urban Jungle service that focuses on New York's five boroughs and services for move-down buyers. Suburban Jungle will gain resources from the sale to @properties, allowing it to develop its tech platform further while extending into new markets and growing in current ones. @properties is also expanding. With the acquisitions of Ansley Real Estate in Atlanta and Nest Realty in Charlottesville in 2019, the Chicago-based company has expanded outside the Midwest. In addition, @properties will launch a national franchise brand in late 2020, with franchises already in Detroit and La Crosse, Wisconsin. About @properties @properties, founded in 2000, is ranked eighth on the REALTrends 500 list of the largest residential brokerage companies in the United States by sales volume. @properties and its affiliated companies employ over 4,000 real estate agents throughout nine states in 65 office locations. Pl@tform, an integrated application suite created by @properties, assists its agents in managing all elements of the client relationship and real estate transaction. About Suburban Jungle Group Suburban Jungle Group is the first-of-its-kind real estate advisory and technology platform devoted only to assisting house buyers in locating the ideal town or suburb before looking for a property. The company's award-winning and objective "town first" approach to real estate guarantees that homebuyers look in the correct areas and ask the right questions. Home buyers are not charged for this service.

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BUYING/SELLING

WSGF Announces Plans To Expand Short-Term Rental Property Purchase Fintech Finance Business Through Organic Growth And Acquisition

World Series of Golf, Inc. | October 13, 2021

World Series of Golf, Inc. (USOTC: WSGF) ("WSGF") confirmed the company will publish a management overview tomorrow (Wednesday, October 13th, 2021), on the initiative now underway for several months to accelerate revenue growth and add assets to the balance sheet. The initiative includes planned acquisitions, adding new lines of business to complement the current short-term rental purchase finance business, and a groundbreaking cryptocurrency strategy to be integrated into the company's coming Vaycaychella App version 2.0. WSGF operates a short-term vacation rental fintech company facilitating real estate investment and purchase financing. WSGF acquired a business called Vaycaychella last year and made Vaycaychella its primary business focus. A corresponding corporate name change is underway. Vaycaychella serves entrepreneurs looking to acquire and operate short-term vacation rental properties and businesses, and investors looking to make investments in short-term vacation rental properties and businesses. WSGF, through its operating subsidiary, Vacycaychella, earlier this year launched a Peer To Peer (P2P) Short Term Rental Property Purchase Application targeting the $87 billion vacation rental market.

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