Property sales market stalls in London but rents are rising

Centre for London | May 14, 2019

Commercial and residential property markets have stalled in London but the capital’s lettings market has seen increases in rents paid, according to a new analysis. There has been subdued house price growth, a sharp drop in housing completions and a lower take up of office space, the report by Centre for London shows. Take-up of commercial property in London and active demand, that is the total space currently sought by companies, both declined by 14% in the first quarter of 2019 compared to the previous year. House prices fell by 1.45 in December 2018 when compared to the previous year, a fourth consecutive month of falling prices. This contrasted with declining, but still positive growth in the rest of England and Wales.

Spotlight

The real estate sector needs robust, reliable metrics to measure the sustainability of properties and portfolios; ensure regulatory compliance; drive organizations to greater achievement and raise industry accountability; and gauge the efficacy and financial returns of environmental enhancement projects. Despite these and other important goals, industry participants have yet to agree on common standards. Instead, investors face a bewildering multitude of systems and tools, each with its own metrics, approach, technical requirements, and priorities, reflecting the needs and biases of their adherents.


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REAL ESTATE ADVICE

Explore the Luxury Home of Your Dreams Near the Nation's Capital

Gloria Rojas | June 20, 2022

Gloria Rojas, a top producer with Fairfax Realty Select recently listed two new homes for sale in Potomac, Maryland and Oakton, Virginia. Both stunning, custom properties are beautifully appointed, well kept, and located in excellent locations within easy, 30-minute access to Washington D.C. and the surrounding metro area. A Multi-Million Dollar Club Member and Top Producer since 2005, Gloria Rojas has been an elite licensed real estate advisor for nearly two decades. Her listings regularly fall within the DC metro area, in suburbs that welcome nearly any lifestyle – from cozy brownstones to full luxury estates fit for a dignitary. Potomac, Maryland: 11300 Glen Road A uniquely stunning 11,639 square feet custom-built property on 2+ acres, featuring a perfect blend of European and American stone-and-stucco cozy aesthetics. Outdoor, landscaped gardens, cherry-blossom trees, mature framing trees, with a private entrance and convenient circular driveway. It also comes with a 6-car garage. Custom trim, custom ceilings, soaring windows, Italian paint, and embassy-sized marble foyer with a monumental custom staircase complete with iron handrails are just a few of the home's exciting features. Ideally located just outside of DC, in the very exclusive community of Potomac, Maryland. Price: $3,100,000 Total Beds: 6 Total Baths: 5 full/ 2 half Total Sq. ft.: 11,639 on 2.01-acre property. Take a virtual tour of the home HERE. Oakton, Virginia: 2961 Trousseau Lane Nestled on a quiet street in the exclusive Northern Virginia neighborhood of Oakton and close to everything a homeowner could need, this home features a long driveway, gleaming hardwood floors, and spacious living areas. With other highlights like a stainless-steel gourmet kitchen, butler's pantry, a wet bar, guest suite on main level, and outdoor patio, this house is an Oakton treasure. Price: $1,299,900 Total Beds: 5 Baths: 5 full/2 half Total Sq. ft.: 5,826 on 0.15-acre property. Take a 3D tour of the home. Mrs. Gloria Rojas is extremely professional. She understands the difference between selling real estate vs. selling a home for her clients. When we decided to make the move to Washington D.C. metro area, we searched for the best realtor possible and we were extremely fortunate to work with Gloria. She guided my husband and I through the whole process and we were able to find our perfect home with no hassle and everything was transparent." A. Robertson About Gloria Rojas: Your Licensed Luxury Real Estate Advisor Since 2005, Gloria Rojas has been a trusted Washington DC real estate advisor to the elite, helping families find luxury homes and real estate investments with a wide variety of listings throughout the DC metro area, including Washington D.C., Northern Virginia and Maryland. A Top Producer and award-winning real estate professional, Gloria has striven to provide the best advice and service to her clients, especially when it comes to advising them with her expertise in listing a property, regardless of the price of the home, establishing her distinguished career over the course of nearly two decades. She holds a degree from University of Cambridge, located in the UK, a graduate degree from Sorbonne Université, located in Paris, France, and is fluent in English, Spanish, and French – earning her the respect and admiration of a truly global clientele, and her colleagues.

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REAL ESTATE TECHNOLOGY

Whitecrest Real Estate Celebrates the Completion and Official Grand Opening of Brand-New Luxury Condominium Development, The Heritage

The Menkiti Group | May 21, 2022

MG Residential, an arm of Brookland's The Menkiti Group, was joined by Whitecrest Real Estate, to celebrate the launch of The Heritage, a newly developed collection of modern condominiums starting in the mid $300's. The new development offers 1–2-bedroom units that range from 570 – 1050 square feet. The completion of this project marks a major milestone in the new development and momentum in Ward 5. "The project was started late 2018 and took over 3 years to complete. Even through the chaos of COVID-19, we trooped through as we believed in the project," said the company's Director of Design, Maryam Kazmi. "We chose this project as we believed in the neighborhood and wanted to add value to this area and offer new modern living. This is an emerging neighborhood and we wanted to be part of its story." The Heritage lies in the heart of Woodridge, a residential neighborhood located just north of the National Arboretum. The dynamic team of Whitecrest Real Estate always believed in the Woodridge neighborhood, but it was not until they began working in the area, that they realized its true potential. We were one of the first very few developers who started to invest in the neighborhood, about a decade ago in 2013 with a boutique style building. While working in Woodridge, we realized that it is not only a conveniently located and easily accessible neighborhood to various hot spots of Washington DC, but also amongst one of the safest and most affordable areas in the city." Reza Damani, Real Estate Investor and Chief of Operations for Whitecrest The Heritage is conveniently located near a variety of the District's parks and amenities. Barnard Hill Park lies in the northwest corner of the neighborhood, providing 22 acres of open green space for walking or picnics. Also, near the neighborhood, the Dwight A. Mosley Playground and Taft Recreation Center have a large playground, several sports fields, a tennis court, and a basketball court. Although Woodridge lies in a residential area, its proximity to the city's main attractions is what gives this neighborhood its unique flexibility and advantage. Whitecrest and MG Residential were joined by many Ward 5 residents and local businesses, resulting in a successful community event. Joe Dawson of Mission Mortgage and Lawrence Elliot of Prime Title sponsored the event and were also in attendance. "We appreciate everyone who attended the official Grand Opening for The Heritage," says MG Residential's VP of Sales and top 1% of realtors nationwide, Lashika Mason. "We are truly overwhelmed by the constant outpouring of support from the community and look forward to seeing The Heritage's impact in Ward 5." The Heritage is on one of the main arteries of the neighborhood, that runs into Washington, DC. The luxurious finishes combined with the extra effort that was taken to preserve the 100-year-old bank façade makes this beautiful building stand out. The Heritage is a well-built, high-end, and eco-friendly mixed-use condo building in a calm and inviting neighborhood that's a rare find in Washington, DC. The units are well-designed, efficiently built, and are offered at the most competitive prices available in the marketplace for brand-new condominiums. "This is an exciting partnership with MG Residential and Whitecrest Development," says top producing realtor and Managing Director at MG Residential, Anthony Mason. "We are proud to be a part of this project and are looking forward to seeing the impact on the community as we strive to continue to fulfill our mission of transforming lives, careers, and communities through real estate." About Whitecrest Real estate Whitecrest is a dynamic team of real estate investors composed of four key players: Farid Khan serves as the President for Whitecrest Real Estate Company. His primary role is developing a vision for White crest real estate. He also Analyzes budgets and financial reports regularly, reviews and advises on contracts, and leads the company towards success. Reza Damani serves as the Chief of Operation for Whitecrest Real Estate, providing executive management and overseeing all areas of a project from acquisition of raw land to design and development of all the company's construction projects. Mr. Damani is a licensed Class A builder in the Washington DC area with 20 plus years and over 150,000 total developed square feet in the Washington DC metro area. From site selection, through acquisition and construction, to occupancy, he offers comprehensive ground-up and build-to-suit development services for the region. Syed Ali serves as the Chief financial Officer for Whitecrest Real estate and is responsible for tracking cash flow, financial planning, analyzing the company's financial strengths and weaknesses and proposing strategic direction. He is also responsible for maintaining relationships with bankers and investors. Maryam Kazmi serves as the Director of Design for Whitecrest Real Estate. She oversees all design decisions and aesthetics of the project from the floor plans to the finishes. Her responsibilities include making all indoor and outdoor spaces functional, safe, and beautiful by determining space requirements and selecting essential and decorative items, such as colors, lighting, and materials to ensure a well-designed and cohesive look to the whole project. About MG Residential MG Residential is a premier sales team based in Washington, DC, with expertise providing residential and commercial real estate services to buyers, sellers, investors, and developers across Washington DC, Maryland, and Virginia. Over the past 15+ years, MG Residential has had the privilege of serving over 3,000 families in the greater DMV region and has consistently been ranked within the top 100 teams nationally for Keller Williams. Founded with the mission of transforming lives, careers, and communities through real estate, MG Residential is anchored by Bo and Kymber Menkiti and Anthony and Lashika Mason. Their goal is to close the gap on homeownership and create intergenerational wealth in the District of Columbia and throughout the greater DMV region.

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REAL ESTATE TECHNOLOGY

National Real Estate Firm Evernest Acquires Kansas City Property Management Business

Evernest | April 29, 2022

Evernest, a national, full-service real estate and property management firm, announced that they have acquired the property management portion of Kansas City-based Hunter Properties. The acquisition represents Evernest's foray into the Kansas City market, complimenting the 16 other real estate markets already served by the firm. The combination of Hunter Properties' local property management footprint in Kansas City, along with our full-service real estate offerings, will ensure an ideal experience for their current clients and allow us to build something special in the Kansas City market. Owners, residents, and investors will continue to receive the high-quality care they have come to expect, but now with Evernest's touch." Matthew Whitaker, Evernest Founder and CEO "Evernest's commitment to client care is one of the primary reasons for this deal," said Hunter Properties owner, Robin Hunter. "I have confidence in their ability to serve my valued clients and, as I'm retaining the real estate side of my business, I'm now able to focus primarily on buying and selling homes for my clients." Hunter Properties is the 18th organization purchased by Evernest. "Our goal is to find best-in-class property management providers who are ready to exit the industry. We take the legacy they've built and infuse it with our distinctive culture, including a national brand, in-house brokerage services, and in-house underwriting." In other words, this acquisition also opens the door for real estate investors looking to break into Kansas City. "As Evernest moves into KC, we're excited to help residents, owners, and investors achieve their real estate goals, whatever those may be," said Whitaker. AboutEvernest Evernest is based in Birmingham, Alabama, and operates in 17 real estate markets across the country. It is one of the nation's largest single-family and small multi-family investment brokers and property management providers. The firm manages more than 6,500 homes for over 3,000 owners, brokers more than 700 investment deals annually, and has made the Inc5000 list five of the last six years.

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REAL ESTATE TECHNOLOGY

iGo Launches iGo Network: A National Home Inspection Booking Platform

InspectionGo (iGo) | April 06, 2022

InspectionGo (iGo), provider of technology and services to the home inspection industry, announces the launch of iGo Network, a national platform for real estate agents, consumers, and investors to order home inspections through a digital, but human-enhanced, booking service. iGo Network was created to make property inspection booking and delivery more accurate and efficient, and solves the geographical fragmentation in the inspection industry. For real estate or technology companies seeking inspection services across multiple markets, iGo Network provides a central, digital solution for tapping into reputable inspectors nationwide. Participating inspectors meet ongoing service standards and are committed to maintaining a high bar for E&O and general liability insurance. We are excited to launch iGo Network. The majority of home inspections today are ordered via a 12-minute phone call, making it cumbersome and error prone. We are changing this, and now with a modern national platform, the inspection can be incorporated into a more cohesive and enjoyable consumer journey." Celeste Starchild, COO of iGo Every inspection booked through iGo Network comes with a repair estimate report from Repair Pricer – the industry's most accurate AI-powered home repair cost calculator. With an accuracy rate of 98%, Repair Pricer reduces time and stress associated with gathering repair estimates from contractors during a critical time in the closing process. "We are thrilled to join forces with iGo to launch iGo Network," said Christian, co-founder of Repair Pricer. "Agents have been asking us for years for an easy way to book with inspectors that will provide them with Repair Pricer reports as standard. iGo Network not only meets this demand, but it brings best-in-class tools and services together to deliver a game changing experience for the industry as a whole." Inspection companies gained advance access to join the iGo Network at iGo's annual conference in February, where more than 400 inspectors signed up for the platform. With dozens of market-leading multi-inspector firms participating at launch, iGo Network is positioned to bring a higher level of professionalism and standards to the industry. For inspectors, iGo Network provides a source of new business without compromising control and confidentiality of their client data. "The inspection industry needs a trusted partner to meet the opportunities of the future. I believe that partner is iGo, and Axium Inspections is proud to be a founding member of the iGo Network," said Wade Williamson, CEO of Axium Inspections. About InspectionGo (iGo) iGo, is a leading provider of technology and services for the home inspection industry. iGo's vision is to empower home owners and their agents with professional, digitally driven home inspection services and actionable insights about their homes, making home ownership more joyful. Based in Tyrone, PA, iGo also operates iGo Community, the nation's largest business coaching group for inspection company owners, iGo Academy, the gold standard for home inspector education in 17 states, and iGo Booking, the nation's foremost home inspection booking service. About Repair Pricer Repair Pricer is an AI-powered repair estimator that can turn any inspection report into a highly accurate fully-interactive repair estimate. The buyer's agent receives this report, with the option to modify the final display for their buyer. Customizable, universal, automated and secure, Repair Pricer is demanded by real estate professionals and investors nationwide.

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Spotlight

The real estate sector needs robust, reliable metrics to measure the sustainability of properties and portfolios; ensure regulatory compliance; drive organizations to greater achievement and raise industry accountability; and gauge the efficacy and financial returns of environmental enhancement projects. Despite these and other important goals, industry participants have yet to agree on common standards. Instead, investors face a bewildering multitude of systems and tools, each with its own metrics, approach, technical requirements, and priorities, reflecting the needs and biases of their adherents.

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