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

As the energy capital of the world, Houston has been severely impacted by the prolonged decline in oil and gas prices. The results, however, have not been even across the city.

Spotlight

As the energy capital of the world, Houston has been severely impacted by the prolonged decline in oil and gas prices. The results, however, have not been even across the city.

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BUYING/SELLING

Pacaso Launches Innovative Luxury Second Home Co-ownership Platform in Jackson Hole

Pacaso | November 15, 2021

Pacaso, the leading real estate platform that helps people buy and co-own a luxury second home, today announced that it has expanded its service to Jackson Hole, Wyoming. The company listed its first property in Jackson alongside plans to support the Community Housing Fund and Teton Habitat for Humanity. "Jackson Hole's majestic beauty coupled with its wide array of year-round outdoor recreational activities has made it a highly desirable location for second home buyers, many of whom are looking to enjoy their newfound remote work flexibility from the mountains. As in many mountain towns, this demand has increased the strain on housing inventory needed by the workforce. Pacaso offers a better way; co-ownership empowers buyers to uplevel their focus toward luxury properties, and away from lower price points." - Pacaso Co-founder and CEO Austin Allison For 2022, Pacaso will be supporting the local Community Housing Fund with an upfront donation of $10K and an ongoing donation of $5K for each home Pacaso purchases. The company will also appeal directly to the sellers' agent to match its giving for each home and partner with Fund leaders to encourage others in the real estate community to give. Pacaso will also donate lightly used furniture and home goods from the acquisition of new homes to Teton Habitat for Humanity. "I am delighted Pacaso has chosen to proactively participate in the Community Housing Fund. Broad-based, sustained participation from the real estate community is critically needed to support our community members facing housing insecurity. I look forward to partnering with Pacaso to grow this fund's impact." - Devon Viehman, Associate Broker of the Viehman Group. Pacaso partners with all interested real estate agents and brokerages in markets where it operates. Real estate agents representing buyers who purchase a share of a Pacaso home receive a 3% referral commission in addition to 500 RSUs of Pacaso stock as a referral equity bonus. Agents in Jackson Hole who are interested in working with Pacaso can learn more on the company's website. Pacaso's first listing in the area is a contemporary five-bedroom home situated atop the ridge of Spring Creek with sweeping views of Sleeping Indian Mountain and the Grand Tetons. The home was designed by Ward Blake architects. About Pacaso Pacaso® (pronounced like "Picasso") modernizes the decades-old practice of co-ownership by creating a marketplace that makes buying, owning, and selling a luxury second home easy. From curating the best listings in top second home markets to offering integrated financing and sales from as little as ⅛ to as much as ½ ownership; upscale interior design; and professional property management, Pacaso provides owners with all the benefits of owning a second home with less hassle. After purchase, Pacaso manages the home on an ongoing basis and supports a frictionless resale process in partnership with a licensed real estate professional.

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REAL ESTATE TECHNOLOGY

Crexi has Launched a Mobile App that Provides On-The-Go Access to Commercial Real Estate

Crexi | April 15, 2021

Crexi, the fastest-growing marketplace, data, and technology platform in the commercial real estate (CRE) industry, has launched an iOS mobile app. CRE brokers, buyers, investors, and others can use Crexi's mobile app to find commercial real estate properties for sale and lease and connect with brokers in real-time. The Crexi app allows you to stay up to date on the ever-changing commercial market while on the go. The smartphone app, which is designed with maximum speed and ease-of-use for mobile screen sizes in mind, allows all users to easily scan, sort, and browse any listing on Crexi without having to be in front of a computer. Users will use the latest mobile app to: • Browse the entire Crexi database for the newest sales or lease listings • Search by location anytime, anywhere to see listings and properties • Share listings with others via text, email, Slack, social media, or other apps • Access more information about a property by offering memorandums, listing flyers, or brochures • Call or email a broker with one tap from an interesting listing "We're thrilled to be releasing our first mobile app into the market. We've been fine-tuning our website and technology since launch, and we've applied what we've learned from customers to this next phase "Crexi's creator and CEO, Mike DeGiorgio, said, "Our app features will allow users to seamlessly browse listings and, as a result, close deals more quickly." Crexi's mobile app is in line with the company's commitment to creating a platform for the future of the commercial real estate. Crexi works closely with customers and industry leaders every day to adapt, grow, and evolve their business in an environment that has been dramatically altered by COVID, the climate crisis, and new ways of engaging with colleagues and clients. Crexi aims to develop tools to help their clients succeed at any stage of the commercial real estate process with the mobile app. About Crexi Commercial Real Estate Exchange, Inc. (CREXI) is the fastest-growing marketplace, advanced technology, and data platform dedicated to serving the commercial real estate industry and its stakeholders. Crexi allows commercial real estate professionals to easily streamline, maintain, and grow their businesses, enabling them to close deals more quickly. Crexi has rapidly grown to become the most active marketplace in the industry since its inception in 2015. Through millions of customers, the website has assisted buyers, tenants, and brokers in transacting and leasing on over 500,000 commercial listings worth more than $1 trillion. Crexi now has over 150 employees and is based in Los Angeles, California.

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REAL ESTATE INVESTMENT

First National Realty Partners Acquires Southland Crossings, a 245,678 SF Giant Eagle-Anchored Shopping Center in Boardman, OH.

First National Realty Partners | December 10, 2021

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