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New Residential Construction Prices and Sales Dip in U.S.

WORLD PROPERTY JOURNAL | June 10, 2019

According to Redfin, sale prices for newly built homes in the U.S. fell 1 percent year over year to a median of $363,900 in the first quarter of 2019, the first such drop in seven years. Sales of new homes in the U.S. were also down 3.1 percent year over year in the first quarter of 2019, the third consecutive quarter of declines. Supply of new homes was up 4.2 percent in the first quarter, the fourth consecutive period of increases. The small declines in new-home sale prices and sales and the rise in supply were expected. Redfin first reported that demand for new homes was cooling in the second half of 2018 as builders started dropping prices and offering incentives to agents and buyers showing interest in new construction, such as free design upgrades. Connie Durnal, a Redfin agent in Dallas, said builders are now using other methods to lower prices for new homes in her area, such as smaller lot sizes and including fewer upgrades in spec homes (those that are built without a buyer lined up). Lowering prices is part of an effort to sell some of the new-home inventory that's been piling up in Dallas (supply of new homes in the Dallas metro was up 14.7% in the first quarter).

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The New Traditional Asset Class

For generations, public markets have been the beating heart of capitalism, reaching their zenith in the latter part of 20th Century, when stock markets in Wall Street, the City of London, Hong Kong, and others were the great centers of capital raising, corporate investment and growth.

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The Agency Launches First Office in Indianapolis, Indiana

PRweb | May 23, 2023

Global real estate brokerage The Agency proudly announces the launch of its first franchise office in Indianapolis, Indiana. The new locale, which will be known as The Agency Indianapolis, is the firm’s first office in the state of Indiana, and second in the Midwest following Birmingham, Michigan, which opened in 2022. The Indianapolis office joins the brokerage’s growing network of more than 80 offices in the U.S., Canada, Mexico, the Caribbean, and Europe and will be led by industry veteran and Managing Partner Traci Garontakos. Traci and her team will service the greater Indianapolis region with a focus on the city’s thriving suburbs of Zionsville, Carmel, Westfield, Noblesville, and Fishers. “We’re thrilled to continue our expansion across the Midwest with the launch of our first office in Indiana,” said Mauricio Umansky, CEO and Founder of The Agency. “We’re delighted to partner with Traci Garontakos, a well-respected and accomplished professional in our industry, as we unveil our new location in Indianapolis.” The Agency has rapidly expanded its presence across the globe throughout the past year, making it one of the fastest-growing luxury boutique brokerages in the world. The Agency’s independently-owned brokerages are referred to and integrated as true global partners. Every Managing Partner, from both corporate or independently-owned offices, operates cohesively as one true global network. Rather than simply using brand likeness in their marketing, The Agency’s global partners enjoy the same access to leadership, marketing, public relations, training, tools, and technology as our corporate offices. In Q1 of 2023 alone, The Agency launched eight new offices, with more on the horizon in the coming months. “Indianapolis is a thriving market that holds great synergy with The Agency brand as we continue to deepen our brokerage’s presence in the Midwest,” said Jim Ramsay, Executive Vice President of Franchise Sales at The Agency. “We look forward to servicing this thriving destination as we bring The Agency’s unparalleled network and resources to buyers and sellers throughout Indianapolis.” Traci Garontakos serves as Managing Partner of The Agency Indianapolis and is a proud resident of Zionsville, as well as a highly accomplished real estate professional with more than 20 years of experience in building lasting business relationships. With a passion for design and a personal commitment to working tirelessly for her clients, Traci has established herself as a trusted and respected figure in the local real estate industry. As a top producer for many years, Traci has a deep understanding of the luxury real estate market and has developed a keen eye for identifying the best opportunities for her clients, who appreciate her attention to detail and ability to make the buying and selling process as stress-free as possible. She has a reputation for going above and beyond to ensure her clients are satisfied and happy with their real estate transactions. Traci has built a team of dedicated professionals who share her commitment to excellence, resulting in $50 million in annual sales in 2022. As a top producer in the luxury real estate industry, Traci’s reputation for exceptional service and results speaks for itself. “The Agency’s global brand presence and innovative marketing align perfectly with the culture of our business and the city of Indianapolis,” said Traci Garontakos. “I am excited to lead our team and continue to serve the greater Indianapolis region and its suburbs, which continue to experience unprecedented growth and development while maintaining the charm, beauty, and idyllic Midwestern lifestyle afforded within our local community.” With solid infrastructure, The Agency has a renowned brand that is featured on international television shows including “Million Dollar Listing Los Angeles,” “The Real Housewives of Beverly Hills,” and “Buying Beverly Hills,” which debuted on Netflix on November 4, 2022 and just announced its second season. The Agency has grown to more than 80 corporately owned and franchise offices across the globe, making it one of the fastest-growing luxury boutique brokerages in the world. Poised for further expansion with like-minded partners in strategic markets, The Agency is noted by The Financial Times as one of America’s Fastest Growing Companies and has ranked among Inc. 5000’s list of fastest-growing private companies in the country for six consecutive years. Recently, The Agency ranked 18th on the 2023 RealTrends 500 list, and ranked as the fifth-largest privately held independent brokerage in the nation by sales volume. In August 2022, Inman named The Agency Luxury Brokerage of the year. The Agency Indianapolis is situated within a historic farmhouse known as The Holliday House at Holliday Farms, located at 3546 South US 421, Zionsville, IN 46077. 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Watch The Agency on Buying Beverly Hills, a new real estate occu-soap highlighting the high-stakes world of luxury real estate in Los Angeles, currently streaming on Netflix.

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Coldwell Banker Commercial Paves the Way for the Future of Commercial Real Estate with New Website

PRnewswire | April 24, 2023

Coldwell Banker Commercial®, an Anywhere (NYSE: HOUS) brand, announces the launch of their all-new website, www.cbcworldwide.com. The new website introduces new ways for commercial real estate users and investors to search for property as well as introduces a new experience for Coldwell Banker Commercial clients and affiliated professionals as they work on transactions. The new search features and tools are housed within an easy to navigate user experience. "The new Coldwell Banker Commercial website reflects the future of the company and completes our global rebrand," said David Marine, chief marketing officer of Coldwell Banker Commercial. "We developed this site with the goal of creating a seamless suite of tools that will connect our professionals and allow them to deliver value with just a few clicks. Since our founding in 1906, we have been at the forefront of the commercial real estate industry and with the launch of this new website, we will reaffirm our leadership position." The new site aims to educate and reinforce the differentiating qualities of the Coldwell Banker Commercial brand. Exclusive to the Coldwell Banker Commercial affiliated brokers and professionals, the new site will offer seamless accessibility and customization, allowing these individuals to provide the best possible service to their clients. Highlights include a personalized dashboard that will allow for lead capture and direct communication in a private deal room, analytics on one's individual listing(s) as well as the ability to edit listings directly on the website. Clients and individuals will also have an enhanced visitor experience. They will be able to create their own accounts on the website and setup specific search alerts and notifications based on property type, geographic area and/or industry and interact directly through the website with the Coldwell Banker Commercial affiliated professionals. "The Coldwell Banker Commercial brand has always been a leader in real estate, we have been pathfinders since 1906," said Dan Spiegel, SIOR, senior vice president and managing director, Coldwell Banker Commercial. "We will do whatever it takes to ensure that Coldwell Banker Commercial affiliated professionals have access to innovative tools and technology to create exceptional experiences for their clients. Our new website enables our highly collaborative community of professionals to work together with each other and their clients, because when we work together, we win together." In addition, the site will feature an updated news section called Viewpoints, where the brand publishes market outlook reports and articles about trending CRE topics, as well as host the brand's popular podcast – CRE with CBC Worldwide, the Coldwell Banker Commercial Podcast. About Coldwell Banker Commercial The Coldwell Banker Commercial® brand provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial system comprises almost 200 offices and more than 3,000 affiliated professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.

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Rocket Mortgage Addresses Affordability Challenges with New 1% Down Home Loan Program

PRnewswire | May 23, 2023

Rocket Mortgage, the nation's largest retail home lender and part of Rocket Companies (NYSE: RKT), today introduced ONE+, a new 1% down home loan program that will dramatically increase access to homeownership for millions of low-to-moderate-income earning Americans. With ONE+, a homebuyer is only required to make a down payment of 1% of the purchase price and Rocket Mortgage will cover the remaining 2% needed to reach the required threshold for conventional loans. In addition to reducing upfront costs, ONE+ completely eliminates the expensive monthly mortgage insurance fee for the client – which is traditionally required if the buyer places less than 20% down on their purchase. "Rocket Mortgage prides itself on finding innovative solutions and lending programs that help clients achieve their goals in any market cycle. No other lender has a mortgage option that makes affordable homeownership possible for as many Americans as ONE+," said Bob Walters, CEO of Rocket Mortgage. "We talk with people from all walks of life every single day – many of whom are ready to own a home, and could easily make the monthly mortgage payments, but are having trouble saving for a down payment. ONE+ is a response to that feedback and the latest example of Rocket's commitment to creating programs that help make homeownership more attainable." Designed to help everyday Americans achieve homeownership, ONE+ is available to homebuyers purchasing single-family homes – including manufactured homes – whose income is equal to or less than 80% of their area median income (AMI). With this expansive AMI eligibility, Rocket Mortgage estimates that more than 90 million people can meet the income requirements for this program – based on publicly available income data. As an example of the savings possible through ONE+, a homebuyer purchasing a $250,000 home typically needs a minimum of 3% down, or $7,500. Now, they will only need a $2,500 down payment. In addition, ONE+ offers mortgage insurance at no cost to the client, which on a $242,500 loan, can be as much as $245 per month. That improves a homeowner's monthly cash flow and can save as much as $20,500 over the first seven years after closing – the average amount of time mortgage insurance needs to be paid. This is the third initiative Rocket Mortgage has launched in the last six months with affordability in mind. Other programs such as BorrowSmart Access and Purchase Plus focus on addressing challenges for homebuyers in underserved communities. By offering a $3,000 credit with BorrowSmart Access and a $7,500 credit with Purchase Plus, hurdles such as closing costs and down payments are lessened and accessibility is increased. Homebuyers can apply for ONE+ using Rocket Mortgage's industry-leading digital mortgage experience at RocketOnePlus.com and on the Rocket Mortgage mobile app. They can also apply through one of the thousands of mortgage brokers across the country who partner with the lender through Rocket Pro TPO. About Rocket Mortgage Detroit-based Rocket Mortgage is one of the nation's largest home lenders, closing more mortgage volume than any other lender in 2022, and is a part of Rocket Companies (NYSE: RKT). The lender enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Since its founding in 1985, Rocket Mortgage has closed more than $1.6 trillion of mortgage volume across all 50 states. Rocket Mortgage is ranked highest in the country for client satisfaction in mortgage origination by J.D. Power. Combining the mortgage origination and servicing studies, Rocket Mortgage has earned 20 total accolades from J.D. Power – the most of any mortgage lender. Rocket Companies, Rocket Mortgage's parent company, ranked #11 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 20 consecutive years.

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PRweb | May 23, 2023

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Rather than simply using brand likeness in their marketing, The Agency’s global partners enjoy the same access to leadership, marketing, public relations, training, tools, and technology as our corporate offices. In Q1 of 2023 alone, The Agency launched eight new offices, with more on the horizon in the coming months. “Indianapolis is a thriving market that holds great synergy with The Agency brand as we continue to deepen our brokerage’s presence in the Midwest,” said Jim Ramsay, Executive Vice President of Franchise Sales at The Agency. “We look forward to servicing this thriving destination as we bring The Agency’s unparalleled network and resources to buyers and sellers throughout Indianapolis.” Traci Garontakos serves as Managing Partner of The Agency Indianapolis and is a proud resident of Zionsville, as well as a highly accomplished real estate professional with more than 20 years of experience in building lasting business relationships. 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As a top producer in the luxury real estate industry, Traci’s reputation for exceptional service and results speaks for itself. “The Agency’s global brand presence and innovative marketing align perfectly with the culture of our business and the city of Indianapolis,” said Traci Garontakos. “I am excited to lead our team and continue to serve the greater Indianapolis region and its suburbs, which continue to experience unprecedented growth and development while maintaining the charm, beauty, and idyllic Midwestern lifestyle afforded within our local community.” With solid infrastructure, The Agency has a renowned brand that is featured on international television shows including “Million Dollar Listing Los Angeles,” “The Real Housewives of Beverly Hills,” and “Buying Beverly Hills,” which debuted on Netflix on November 4, 2022 and just announced its second season. The Agency has grown to more than 80 corporately owned and franchise offices across the globe, making it one of the fastest-growing luxury boutique brokerages in the world. Poised for further expansion with like-minded partners in strategic markets, The Agency is noted by The Financial Times as one of America’s Fastest Growing Companies and has ranked among Inc. 5000’s list of fastest-growing private companies in the country for six consecutive years. Recently, The Agency ranked 18th on the 2023 RealTrends 500 list, and ranked as the fifth-largest privately held independent brokerage in the nation by sales volume. In August 2022, Inman named The Agency Luxury Brokerage of the year. The Agency Indianapolis is situated within a historic farmhouse known as The Holliday House at Holliday Farms, located at 3546 South US 421, Zionsville, IN 46077. 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Rocket Mortgage Addresses Affordability Challenges with New 1% Down Home Loan Program

PRnewswire | May 23, 2023

Rocket Mortgage, the nation's largest retail home lender and part of Rocket Companies (NYSE: RKT), today introduced ONE+, a new 1% down home loan program that will dramatically increase access to homeownership for millions of low-to-moderate-income earning Americans. With ONE+, a homebuyer is only required to make a down payment of 1% of the purchase price and Rocket Mortgage will cover the remaining 2% needed to reach the required threshold for conventional loans. In addition to reducing upfront costs, ONE+ completely eliminates the expensive monthly mortgage insurance fee for the client – which is traditionally required if the buyer places less than 20% down on their purchase. "Rocket Mortgage prides itself on finding innovative solutions and lending programs that help clients achieve their goals in any market cycle. No other lender has a mortgage option that makes affordable homeownership possible for as many Americans as ONE+," said Bob Walters, CEO of Rocket Mortgage. "We talk with people from all walks of life every single day – many of whom are ready to own a home, and could easily make the monthly mortgage payments, but are having trouble saving for a down payment. ONE+ is a response to that feedback and the latest example of Rocket's commitment to creating programs that help make homeownership more attainable." Designed to help everyday Americans achieve homeownership, ONE+ is available to homebuyers purchasing single-family homes – including manufactured homes – whose income is equal to or less than 80% of their area median income (AMI). With this expansive AMI eligibility, Rocket Mortgage estimates that more than 90 million people can meet the income requirements for this program – based on publicly available income data. As an example of the savings possible through ONE+, a homebuyer purchasing a $250,000 home typically needs a minimum of 3% down, or $7,500. Now, they will only need a $2,500 down payment. In addition, ONE+ offers mortgage insurance at no cost to the client, which on a $242,500 loan, can be as much as $245 per month. That improves a homeowner's monthly cash flow and can save as much as $20,500 over the first seven years after closing – the average amount of time mortgage insurance needs to be paid. This is the third initiative Rocket Mortgage has launched in the last six months with affordability in mind. Other programs such as BorrowSmart Access and Purchase Plus focus on addressing challenges for homebuyers in underserved communities. By offering a $3,000 credit with BorrowSmart Access and a $7,500 credit with Purchase Plus, hurdles such as closing costs and down payments are lessened and accessibility is increased. Homebuyers can apply for ONE+ using Rocket Mortgage's industry-leading digital mortgage experience at RocketOnePlus.com and on the Rocket Mortgage mobile app. They can also apply through one of the thousands of mortgage brokers across the country who partner with the lender through Rocket Pro TPO. About Rocket Mortgage Detroit-based Rocket Mortgage is one of the nation's largest home lenders, closing more mortgage volume than any other lender in 2022, and is a part of Rocket Companies (NYSE: RKT). The lender enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Since its founding in 1985, Rocket Mortgage has closed more than $1.6 trillion of mortgage volume across all 50 states. Rocket Mortgage is ranked highest in the country for client satisfaction in mortgage origination by J.D. Power. Combining the mortgage origination and servicing studies, Rocket Mortgage has earned 20 total accolades from J.D. Power – the most of any mortgage lender. Rocket Companies, Rocket Mortgage's parent company, ranked #11 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 20 consecutive years.

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