The cost of moving is putting off one in four owners in the UK

propertywire | December 11, 2017

One in four home owners in the UK want to move within the next five years but the cost of doing so is making it hard to move up the ladder, according to new research. A shortage of suitable housing, increasing house prices and the house moving process are also reasons for a lack of movement, but the recent interest rate rise has not had an effect, according to the study from Lloyds Bank.

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REAL ESTATE INVESTMENT

Walker & Dunlop Completes $92 Million Sale of Luxury Multifamily Community in Miami's Burgeoning East Little Havana Neighborhood

Walker & Dunlop | July 01, 2022

Walker & Dunlop, Inc. announced that it facilitated the $92,000,000 sale of First Apartments, a luxury mid-rise apartment community ideally situated less than one mile from both Downtown Miami and Brickell in up-and-coming East Little Havana. Completed in late 2021, the community reached 90% occupancy by January 2022, reflecting an extraordinary initial leasing velocity of nearly 45 leases per month. Walker & Dunlop's Still Hunter and Kaya Suarez represented the buyer, Lloyd Jones, and the seller, Premium Development, in the transaction. The Walker & Dunlop team acted as advisors and drove a competitive marketing process to ensure an attractive outcome for ownership. This sale represents the first transaction between all three parties as well as Premium Development's first U.S. multifamily project. Since opening its doors in late September, First Apartments has enjoyed an increase in lease rates with recent leases signed for more than 25% above initial leases. With rental rates that are nearly $500 below communities with comparable finishes and amenities, First Apartments enjoys the enviable position as the best value in the local competitive set. The impressive lease-up performance is a testament to the appeal of the asset and its prime location, proximate to key demand drivers, entertainment venues, and transit routes." Roger Karré, the Chief Operations Officer at Premium Development "With the insatiable demand for moderately priced luxury rental options in South Florida, First Apartments meets the growing needs of Miami residents seeking value relative to Brickell and Downtown Miami's rental options," commented Mr. Hunter. "The new community is also an excellent investment opportunity given its proximity to Miami's commercial business district, boasting nearly 22 million square feet of office space and 125,000 jobs." Developed with incredible attention to detail and a focus on smart design, First Apartments is the premier luxury rental option in East Little Havana. The community features spacious, luxuriously appointed apartment homes that are complemented by an excellent amenity package, including health club quality fitness facilities, a resort-style lap pool, an expansive bark park and various other lifestyle-enhancing amenities. Walker & Dunlop is a leader in multifamily property sales, having completed $19.3 billion in property sales volume in 2021 alone, up 214% from 2020. Visit our website for information about multifamily properties available for sale via Walker & Dunlop's property sales platform. About Walker & Dunlop Walker & Dunlop is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology makes us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With more than 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.

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REAL ESTATE TECHNOLOGY

Zentap Launches Game-Changing Marketing App for Real Estate Agents

Zentap | August 24, 2022

Zentap, a SaaS company that empowers real estate professionals with a true all-in-one marketing solution has launched a mobile app making it even easier for real estate agents to build their brand and generate new prospects. "With the market slowing down and things being even more competitive for real estate professionals, the launch of this app will make it even easier for real estate agents who are always on the go, to create and distribute branded marketing content for themselves and/or their listings by saving time and money and helping them build their brand," - Betty Gabbaie, Zentap's Chief Executive Officer Through this app, real estate professionals will have access to a powerful dashboard where they can create, post, and download different digital marketing assets in minutes and share seamlessly on multiple platforms allowing them to stand out from the competition and remain top of mind. Users will also have access to unlimited branded content including Local Market Updates, Single Data Snapshots, Comparative Market Analysis, Listing Videos & Flyers, Open House Videos, Testimonial Videos, Infomercials, and more. From professional websites and social posting to exclusive email campaigns and lead generation, Zentap helps agents scale their business and reinforce their brand through innovative marketing solutions and expertise. In addition to products and services, Zentap also provides useful resources to help educate clients about current digital marketing trends and best practices using social media through their free educational webinar series and exclusive Facebook group for clients. Zentap also offers a full team dedicated to customer success and support for clients to ensure ease of use and optimal results. If you are a real estate professional that needs help with your real estate marketing, contact us today to see how we can help you elevate your real estate marketing.

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INVESTMENTS

Sotheby's International Realty Expands in Michigan

Sotheby's International Realty | August 17, 2022

Sotheby's International Realty announced the opening of Great Lakes Sotheby's International Realty, signifying the brand's continued growth in the state of Michigan. The addition marks the brand's seventh office in the state. Great Lakes Sotheby's International Realty is owned and operated by Dean Groulx and Wendy Groulx, who bring more than 60 years of collective experience to the company. Headquartered in the city of Elk Rapids, the office will serve the greater Traverse City area in Michigan including Alden, Bellaire, Elk Rapids, Elk Lake, Lake Leelanau, North Port, Suttons Bay, Torch Lake, and Traverse City. "Greater Traverse City has a robust luxury home market, It's become attractive for high-net-worth individuals and entrepreneurs and we're seeing both U.S. and international buyers purchasing primary and secondary homes in the area. Our continued growth in the state enables our brand to service this growing market and I look forward to supporting Dean, Wendy, and the entire Great Lakes Sotheby's International Realty team." -Philip White, president and CEO of Sotheby's International Realty The Traverse City area boasts a lifestyle and culture that few other places can match, Our area has access to some of the largest and most pristine freshwater lakes and access to world-class entertainment and fine dining. Few real estate companies can match the background and experience of our brokers and sales associates, and our affiliation with Sotheby's International Realty will offer sellers and buyers in the greater Traverse City area an experience like no other thanks to its prestige, global presence, and marketing capabilities,said Groulx. The company has plans for future growth in Alden, Bellaire, Traverse City, Northport, and Leelanau. Great Lakes Sotheby's International Realty was launched in partnership with Russ Post, owner/broker of Ocean Sotheby's International Realty. The Sotheby's International Realty® network currently has nearly 26,000 affiliated independent sales associates located in over 1,000 offices in 81 countries and territories worldwide. Great Lakes Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated. Sotheby's International Realty Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans more than 1,000 offices located in 81 countries and territories worldwide, including 51 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744.

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REAL ESTATE TECHNOLOGY

HomeJab Debuts Novel Real Estate Agent Marketing Method That Creates Real-Estate-Backed-NFTs to Promote Home Sales

HomeJab | July 14, 2022

HomeJab, which provides real estate agents on-demand professional real estate photography services nationwide, is debuting a new and novel marketing method that gives real estate agents a new avenue to promote homes for sale – using an NFT, or non-fungible token. Real estate agents who use HomeJab for professional real estate photography for their listing can now receive a free real-estate-backed-NFT of the home as part of their order. This new service from HomeJab includes promoting these NFT-backed homes for sale and listing them on the new HomeJab NFT site at nft.homejab.com. HomeJab founder and CEO Joe Jesuele emphasized that this new service for real estate agents supplements their traditional marketing efforts by exposing them to an NFT-interested audience. "For real estate agents, we provide an easy way to promote their listings to a new market of potential buyers and it doesn't cost them anything," explained Jesuele. "For crypto enthusiasts, we offer a way to purchase real world assets legally using blockchain," he added. The first NFT-backed home currently being marketed for sale on the HomeJab NFT site is in Detroit, at 20060 Canterbury Road owned by Daniel McDonald and listed for $415,000 by Lisa Virkus, a real estate agent and founder of Realty in the D. Team Title Services, owned by Web Raulston and based in Chattanooga, Tennessee, handles the title and settlement services. McDonald is a Key Advisor at Mortgage Token, which aims to be the first company that allows clients to leverage their home equity to invest in cryptocurrency. "I'm a firm believer that with digital assets such as NFTs, entire industries will benefit from being built on the Ethereum blockchain by increasing consumer transparency and transaction cost-effectiveness," home seller McDonald said. McDonald explained that blockchain, like the internet, is the new "great equalizer" and that "Web3 will level the playing field, making information and pricing inequalities a thing of the past." "Mortgage Token is an autonomous modernized lending platform bridging the gap between real estate and crypto lending. We look forward to launching before the fourth quarter of 2022 as the first lender specifically investing in cryptocurrency." Jason Yourofsky, Mortgage Token founder Jesuele noted, "Our customers will get an NFT listing for free with every photo shoot, and direct exposure to a more tech-savvy group of buyers." With the new service, an agent can bring their buyer, and the buyer would purchase the NFT, which provides them with an option to purchase the property. Buyers purchase NFTs with USD Coin (USDC), a digital currency fully backed by US dollar assets, on the Ethereum blockchain. HomeJab receives 1% on the NFT sale, with the proceeds distributed to the title company who then facilitates the closing and recording of deed. The seller and buyer agent commissions would be part of the settlement statement, like any other traditional transaction. About HomeJab HomeJab is America's leading on-demand professional real estate photography and video service for real estate pros. Lightning-fast high-end visual production offerings also include immersive 3D interactive tours, floor plan creation, affordable virtual staging, turnkey aerial services, and the creation of real-estate-backed NFTs. Its efficient one-stop-shop for real estate listings promotions at HomeJab.com features affordable and customizable shoots to create the most engaging visual content for faster home sales and enrich the listing agent's personal brand. HomeJab is available nationwide and in the U.S. and Canada.

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