NAR Applauds HUD for Long-Awaited FHA Condo Rule

National Association of Realtors | August 19, 2019

NAR Applauds HUD for Long-Awaited FHA Condo Rule
The National Association of Realtors is applauding the Department of Housing and Urban Development for finalizing new Federal Housing Authority condominium loan policies. The changes, many of which NAR has championed for over a decade, should yield thousands of new homeownership opportunities and help alleviate affordability restraints impacting markets across the country.

Spotlight

The Preveza home design features 3 bedrooms and 2 baths. Natural light and thoughtful touches. The Preveza immediately charms with an appealing covered entry opening up to a welcoming foyer, with direct line of sight through the great room and into the kitchen beyond

Related News

Microsoft and Samsung collaborate to transform real estate and property management industries

Samsung Electronics Co., Ltd. | July 14, 2020

Samsung Electronics Co. and Microsoft Corp. today announced a global collaboration focused on digitally transforming the real estate development and property management industries. This collaboration, combining smart appliances and digital cloud technologies, aims at helping to drive improved building operations and maintenance, along with creating better experiences for both service technicians and residents.

Read More

REAL ESTATE INVESTMENT

Cresset Real Estate Partners and Clarius Partners Close on Land Purchase for 1.7 Million Square Foot Logistics Development in Glendale, Arizona

Cresset Partners | August 12, 2021

CressetEstate Partnersesset Real and Clarius Partners have closed on the land acquisition for 303 Crossroads, a 1,758,410 square foot logistics development in Glendale, Arizona. The project will consist of two buildings to be built across two phases on land fronting Loop 303 and Northern Parkway in Glendale. Building one will be 1,023,610 square feet and is scheduled to be completed in 2022. Building two will be 734,800 square feet and is slated for completion in 2023. Groundbreaking is scheduled for October 2021. The 98-acre 303 Crossroads project consists of two buildings totaling 1,758,410 square feet. Both buildings will be built to stringent modern design standards and will target e-commerce, distribution, and warehousing users. Features of the buildings will include cross-dock configuration, 40-foot clear height, above-market parking ratios, and direct frontage on both Loop 303 and Northern Parkway. "Cresset Real Estate Partners is pleased to partner with Clarius Partners on this project for a multitude of reasons. The Phoenix industrial market has continued to see high levels of growth, with more than 6 million square feet of absorption through the second quarter of 2021. The bulk of this activity has occurred in the Southwest Valley. This market's population growth and the relatively low existing inventory of modern big-box industrial buildings has created a significant opportunity for developments of this type," said Dominic DeRose, Director for Cresset Real Estate Partners. "Clarius Partners is excited to announce the 303 Crossroads Industrial Project in conjunction with Cresset Real Estate Partners," said Mark Balcius, Senior Vice President for Clarius Partners. "This project will enable the partnership to expand its footprint of Class A - Industrial space in the rapidly growing West Phoenix/Loop 303 market. The project team of Butler Design Group, Hunter Engineering, Layton Construction and representation by CBRE, along with the support of the City of Glendale and Epcor, have advanced the project rapidly to enable late 2021 construction commencement." About Cresset Partners Cresset Partners is a private investment firm focused on providing its investors with direct access to investment opportunities in private companies, real estate, and sponsor products. We focus on building outstanding, lasting partnerships by investing permanent capital, resources, and expertise to create sustainable value. We believe that long-term investing creates better alignment and reduces risk and inefficiencies, leading to better outcomes for all shareholders. About Clarius Partners Clarius Partners, L.L.C. is a full-service real estate investment and development company whose mission is to provide customized service to a select group of clients and partners. Clarius is headquartered in Chicago, IL, with approximately 10 million square feet of industrial, office, and medical projects totaling over $1.3 billion in various stages of development in Illinois, Arizona, California, Pennsylvania, Utah, North Carolina, and South Carolina. Through its deep industry knowledge and extensive network, the Clarius team aspires to deliver exceptional development results with quality, clarity, and integrity. Cresset refers to Cresset Capital Management and all of its subsidiaries and affiliates. Cresset Asset Management, LLC provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC provides investment advisory services strictly to investment vehicles investing in private equity, real estate and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC are SEC registered investment advisors.

Read More

REAL ESTATE TECHNOLOGY

High-End Real Estate Reigns Supreme as the Most Lucrative Asset Class

prnewswire | November 11, 2020

While numerous sturdy businesses falter from the effect of the worldwide pandemic, the extravagance private land market keeps on indicating striking versatility. Energized by a bunch of elements - among them, a departure from high-thickness metropolitan zones to more rural, single-family home and bequest centered settings - the world's moguls (about 47 million in number) have reclassified extravagance living. These, in addition to numerous different discoveries identified with the very good quality market, are noted in The Modern Luxury Home: Reimagined - a just-delivered half-yearly investigation by Luxury Portfolio International® (LPI), as a team with YouGov Affluent Perspective. The generally adored brand, which contains in excess of 200 driving very good quality land businesses, is the extravagance showcasing division of Leading Real Estate Companies of the World®. The whitepaper separates various patterns that are presently affecting the well-to-do shopper's spending designs. The acquisition of extravagance merchandise, travel and experiential exercises, for example, have been everything except diminished by COVID-19. In any case, by that equivalent token, very good quality land has demonstrated to be amazingly versatile and more than fit for withstanding the current conditions. "Our research indicates that, while the world's high-net-worth individuals have benefited from growing valuations in financial assets, the coronavirus continues to generate tremendous uncertainty," said Mickey Alam Khan, President of Luxury Portfolio International®. "To that end, luxury real estate is proving to be an ideal investment, and consumer preparedness to purchase is very high, with many regions experiencing record sales." Extra features from the report include: Overall, is three purchasers for each two merchants, exemplified by the way that, in certain business sectors, the gracefully of single-family homes might be as low as a few months of accessible stock (12-year and a half of stock is viewed as ideal in the extravagance private land market). At this crossroads, it isn't exceptional to have various proposals on a posting, which implies that purchasers ought to be set up to have solid proposals close by. Plans to buy an essential home have moved upward during the pandemic, while plans to buy a subsequent home have been moving marginally descending - mainly because of movement limitations - while patterns to sell declined, cultivating a lack of accessible stock. To put it plainly, the report uncovers a genuine "dream market" for dealers. Of those reviewed, around 61% of wealthy purchasers and 57% of well-to-do merchants noticed that they favored eye to eye property visits with a realtor - implying that operators must be completely versed on COVID-19 conventions in their separate regions. The interest for spaces that take into account one's "self" are on the ascent, as are home rebuilds, (increases, and so forth), with 32% of those studied taking note of that they might want to revamp. Seen estimations of home highlights and comforts shift by value range: In the U.S. $1M to $1.9M territory, outside regions are sought after alongside a committed home office. As work-from-home has gotten universal, thus, as well, has the requirement for a peaceful spot to video talk and be beneficial. In the U.S. $2M to $2.9M territory, unwinding and an action room are most noteworthy popular, with extravagance property holders are utilizing health practices to battle the pressure of progress and now life at home almost all day, every day. In the U.S. $3M to $5M+ territory, checked home security (without a doubt because of the steady 'at home' status of the vast majority), and home diversion spaces are progressively searched after. Property venture is ready to develop, with 61% of those studied showing their next huge purchase will be a home-related speculation (either a buy or redesign). 20% showed that it will be a vehicle. The level of the individuals who addressed relaxation get-aways, top notch food, and top of the line design enrolled in the single digits. Despite the pandemic and ensuing lockdowns, by and large shopper trust in both the U.S. furthermore, Europe have gotten back to approach notable levels. The prosperous in Canada and China are as yet working their way back. Altogether, (66%) of the worldwide rich state certainty impacts their longing to make extravagance buys. This, obviously, is a main marker of generally speaking purchaser recuperation. "One very compelling takeaway from the survey involves the affluent consumer's confidence," concluded Alam Khan. "While most high-net-worth individuals are not only enduring, but may well be prospering through the pandemic, 80% of those surveyed noted that they were in good shape to withstand a recession. So, whether the financial headwinds are positive or negative, the affluent consumer will remain pivotal to the global economy." ABOUT LUXURY PORTFOLIO INTERNATIONAL LPI is the luxury marketing division of Leading Real Estate Companies of the World®, the largest global network of premier locally branded firms dominated by many of the world's most powerful, independent luxury brands. LPI attracts a global audience of visitors from over 200 countries/territories every month and markets more than 50,000 luxury homes annually. Well Connected.

Read More

Spotlight

The Preveza home design features 3 bedrooms and 2 baths. Natural light and thoughtful touches. The Preveza immediately charms with an appealing covered entry opening up to a welcoming foyer, with direct line of sight through the great room and into the kitchen beyond