Zillow: California's expensive housing market even prices out the rich

Zillow | April 01, 2019

California’s housing market is so large that it now accounts for a third of the nation’s housing market value. In fact, since February 2012, California’s housing value has climbed a whopping $3.7 trillion, ushering millions of homeowners into its rich market. But as affordability concerns impact metros across the country, new data from Zillow suggests that not even high-income households can keep up with the Golden State’s outrageous home prices.

Spotlight

Clients want real estate on-demand. Recently, we asked 476 real estate agents how on-demand technology has changed client relationships. Results were surprising. For instance, more than 78 percent of clients expect a response from their agents within an hour, and 19 percent expect it within a mere ten minutes. Wait longer, and

Spotlight

Clients want real estate on-demand. Recently, we asked 476 real estate agents how on-demand technology has changed client relationships. Results were surprising. For instance, more than 78 percent of clients expect a response from their agents within an hour, and 19 percent expect it within a mere ten minutes. Wait longer, and

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REAL ESTATE TECHNOLOGY

Sealy & Company Boosts Oklahoma City Holdings with Latest Addition of Irreplaceable Infill Warehouse

Sealy & Company | July 20, 2022

Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of 200 NW 142nd Street in the Oklahoma City MSA. The 27,000 square foot Class A Industrial property was acquired in an off-market deal for an undisclosed amount. The rear-load warehouse distribution center offers optimal functionality for a smaller warehouse, including nine dock-high doors, eight drive-in doors, 22’ clear heights, and minimal office finish-out. The property is located in one of Oklahoma City’s most attractive submarkets. The irreplaceable infill location is situated one mile from the intersection of Highway 77 and John Kilpatrick Turnpike and just five miles from Interstate-35. The property is currently 100% leased to three tenants Fueled by robust population growth and the rise of e-commerce, the Oklahoma City region has added 16.4 million SF of new industrial space since 2010. With the area’s central location, steady job growth, and strong transportation infrastructure, the region continues to solidify itself as an emerging logistics hub. Oklahoma City is only one of 14 cities across the country to add more than 100,000 people in the last ten years, according to 2020 data from the U.S. Census Bureau. Of the 25 largest cities by population, Oklahoma City had the sixth-fastest growth rate between 2010 and 2020 at 17.4 percent. “Sealy & Company first entered the Oklahoma City market in 2014. Since then, we have continued to seek investment opportunities in industrial real estate that align with our portfolio by design objective. Oklahoma City has been a great market for Sealy, and we look forward to continuing to acquire and develop quality industrial properties,” Davis Gibbs, Sealy & Company’s Director— Investment Services Jason Gandy, Managing Director – Investment Services, and Mr. Gibbs led the transactions for Sealy & Company. Jason Hammock of CBRE represented the seller. Sealy & Company Sealy & Company, a fully-integrated commercial real estate investment and operating company, is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouses, industrial/flex, and other commercial properties. Sealy provides a full-service platform for high-net-worth individuals and institutional investors through our development, management, and brokerage divisions. Sealy & Company has an exceptional team of over 100 employees, located in eight offices, with corporate offices in Dallas, TX and Shreveport, LA.

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MARKET OUTLOOK

IDEAL AGENT® RANKED #1 REAL ESTATE COMPANY ON INC. 5000 LIST

IDEAL AGENT | August 22, 2022

Inc. Magazine revealed its annual list of the nation's fastest growing private companies, and IDEAL AGENT®, the premier full-service real estate technology company, is the number 1 Real Estate company, ranking number 2 in Tampa and in the real estate category, number 11 in Florida, and number 73 nationwide across all categories on the list due to its 5,514%, 3-year growth. This year's list is proven to be winning in a time of change and achieving spectacular growth. Among the 5,000 companies, the average median three-year growth rate soared 230%, added 1,178,302 jobs and generated $317.2 billion in total revenue. "We're thrilled to make this prestigious ranking of the nation's fastest-growing private companies, This award is a testament to the hard work and resilience of everyone at IDEAL AGENT®. We recognize the housing market is shifting and poised to help fight rising interest rates with lower commissions, saving clients' money and time with their real estate transaction due to our proprietary technology platform." -Steve Johnston, Founder & CEO of IDEAL AGENT® IDEAL AGENT® makes the home buying and selling process easy and profitable by providing a seamless online experience matching clients with the top 1% local and national agents from top brokerages with variable commissions as low as 2%. IDEAL AGENT® streamlines the real estate transaction connecting all the services including title, mortgage, insurance, warranty, moving, and home services set up, providing clients a seamless experience getting them 5-star results, ranking #1 in real estate on Trust Pilot. About IDEAL AGENT® Tampa-based IDEAL AGENT®, established in 2016, is the nation's fastest-growing, premier, full-service real estate company. Recognized as a leader in modernizing real estate transactions, IDEAL AGENT® makes the home buying and selling process easy and profitable by providing a seamless online experience, ranking number one in real estate on Trustpilot. IDEAL AGENT®'s free service matches clients with the top 1% local and national agents from top brokerages, including Keller Williams, RE/MAX, Sotheby's, Berkshire Hathaway, and more with variable commissions as low as 2%. IDEAL AGENT® streamlines the real estate transaction connecting all the services including title, mortgage, insurance, warranty, moving, and home services set up providing clients a seamless experience getting them 5-star results. IDEAL AGENT® has earned several accolades for excellence in real estate, sustained revenue growth, and is distinguished as the #1 fastest growing real estate company by Inc5000 and Tampa Bay Business Journal, "The Next 1000" by Forbes, 21 Startups to Watch, USF Fast 56 and Tampa Bay Times Best Places to Work.

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REAL ESTATE INVESTMENT

ASCOTT ACQUIRES OAKWOOD WORLDWIDE TO FAST-TRACK GROWTH TO OVER 150,000 UNITS GLOBALLY

The Ascott Limited | July 05, 2022

CapitaLand Investment Limited's (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) announced it is acquiring Oakwood Worldwide (Oakwood), a premier global serviced apartment provider, from Mapletree Investments Pte Ltd. The acquisition increases Ascott's global portfolio by 81 properties and about 15,000 units. Oakwood's approximately 8,500 operational units are expected to immediately contribute to Ascott's recurring fee income streams upon completion of the transaction slated in 3Q 2022. Ascott's acquisition of Oakwood will leapfrog Ascott's global presence to more than 150,000 units in about 900 properties across over 200 cities in 39 countries. It will add new markets which include Cheongju in South Korea; Zhangjiakou and Qingdao in China; Dhaka in Bangladesh as well as Washington D.C. in the United States of America (USA). Recently named the 'Best Serviced Residence Brand' in DestinAsian Readers' Choice Awards 2022, Oakwood's award-winning portfolio includes flagship properties Oakwood Premier Tokyo and Oakwood Premier Coex Center Seoul which were ranked top 10 properties in their respective countries in the DestinAsian awards. New properties such as Oakwood Premier Melbourne and Oakwood Hotel Oike Kyoto, will also add to the group's destination highlights. "This acquisition of Oakwood is part of Ascott's roadmap to playing a bigger role in the lodging market. There are significant synergies between Ascott and Oakwood, given our complementary footprint and product offerings. We intend to build on the strong reputation and heritage of the Oakwood brand, especially in markets across Southeast Asia, North Asia and North America. Oakwood will continue to grow alongside Ascott's current portfolio of global brands as we continue to build growth momentum for our lodging business. We will be able to leverage Ascott's extensive expertise as a global lodging player to deliver greater value to our expanded network of loyal customers and property owners. Besides strategic alignment, this acquisition is also notable to Ascott commercially. Ascott's acquisition of Oakwood brings about an immediate boost to our units under management and franchise contracts. The Oakwood portfolio will accelerate the growth of our asset-light business, with added recurring fee income streams, expanded lodging offerings and increased customer base. The strategic moves we have made in the last few years, such as our investments in Quest, Synergy and TAUZIA have charted an unprecedented growth path for Ascott." -Mr Kevin Goh, CLI's Chief Executive Officer for Lodging. Ascott's strategic investments in the past years include its acquisition of Quest Apartment Hotels (Quest), one of the largest serviced apartment operators in Australasia, in 2017 to grow its business franchise arm. In the same year, Ascott invested in Synergy Global Housing (Synergy), a leading corporate housing provider in the USA. In 2018, Ascott acquired TAUZIA Hotel Management (TAUZIA), one of the top hotel operators in Indonesia, to enter the fast-growing mid-scale business hotel segment. With Oakwood coming onboard, Ascott is confident of achieving its target of 160,000 units globally well ahead of 2023. About The Ascott Limited- The Ascott Limited (Ascott) is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascott's portfolio spans over 200 cities across over 30 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA. Ascott has more than 81,000 operating units and over 54,000 units under development, making a total of more than 135,000 units in over 800 properties. The company's serviced apartment, coliving and hotel brands include Ascott The Residence, The Crest Collection, Somerset, Quest, Citadines, lyf, Préférence, Vertu, Harris, Citadines Connect, Fox, Yello, Fox Lite and POP!. Ascott's loyalty programme, Ascott Star Rewards, offers exclusive benefits to its members when they book directly with Ascott for their stays at its participating properties. Ascott, a wholly owned subsidiary of CapitaLand Investment Limited, pioneered Asia Pacific's first international-class serviced apartment with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide. About CapitaLand Investment Limited- Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 31 March 2022, CLI had about S$124 billion of real estate assets under management, and about S$86 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and 29 private funds across the Asia-Pacific, Europe and USA. Its diversified real estate asset classes cover integrated developments, retail, office, lodging, business parks, industrial, logistics and data centres. CLI aims to scale its FUM and fee-related earnings through its full stack of investment management and operating capabilities. As the listed investment management business arm of the CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm. Being a part of the well-established CapitaLand ecosystem differentiates CLI from other REIMs. As part of the CapitaLand Group, CLI places sustainability at the core of what it does. As a responsible real estate company, CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

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