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Second Century Ventures Makes Investment in Home Captain
CHICAGO (October 29, 2019) — The National Association of Realtors®' venture capital fund, Second Century Ventures, has made an investment in Home Captain, a veteran-owned, technology-enabled real estate platform that guides consumers through the home buying process. Home Captain was a member of Second Century Ventures' 2016 REACH Accelerator class, a unique technology growth program that provides companies with education, mentorship, an insight panel and industry exposure to facilitate their launch into the marketplace. "This financing provides Home Captain with additional working capital to accelerate our commercialization efforts and refinement of our AI toolset that builds a more qualified pipeline for Realtors® and lenders," said Grant Moon, Founder and CEO at Home Captain. "It also deepens the strategic relationship between a proven market leader and the National Association of Realtors®' unparalleled network within the real estate sector." NAR's Senior Vice President of Strategic Business, Innovation & Technology Mark Birschbach also expressed his support for Tuesday's announcement. "We are delighted to make this investment in Home Captain to further accelerate its current growth path. Its platform greatly improves the home buying experience by matching buyers who have been pre-qualified for a mortgage loan to a curated network of real estate agents." About Home Captain Home Captain is a veteran-owned, Conversion Optimization System that helps guide prospective clients through the home buying process. Home Captain's concierge team leverages an algorithmic matching process to pair pre-qualified homebuyers with a highly qualified professional in the company's curated network of over 95,000 participating real estate agents. The concierge team, comprised mainly of military spouses, acts as the liaison between the loan officer, homebuyer and real estate agent. Combined with their AI-powered chatbot and lender portfolio retention services, Home Captain increases lender conversion rates and borrower satisfaction. For more information, visit homecaptain.com. About Second Century Ventures Second Century Ventures is an early-stage technology fund, backed by NAR, which leverages the association's more than 1.3 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world's largest industries, including real estate, financial services, banking, home services and insurance. SCV seeks to define and deliver the future of the world's largest industries by acting as a catalyst for new technologies, new opportunities and new talent. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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MooveGuru Closes Series A Led by Atlanta Technology Angels
Atlanta, October 29th, 2019 -- Roughly 35 million Americans move each year and MooveGuru is making it easier and more affordable than ever before. The Roswell, GA based company was able to self-fund the development of their platform and stress test the solution with key real estate brokerage and franchise partnerships. After refining the solution with their first 450,000 movers, the firm secured lead funding from the Atlanta Technology Angels to fuel growth and additional development. MooveGuru has a developed a moving concierge solution that is provided to real estate brokerage firms who wish to deliver moving services to their clients. The services range from something simple like a change of utilities to a full hands-free move. David Moody, CEO of ERA Sunrise, said, "MooveGuru provides us a complete system to efficiently assist our clients in moving out of, or into their home. The service is aimed at reducing the stress during a move and delivering additional homeowner services." ERA Sunrise will be providing the MooveGuru service to more than 1200 clients in the Atlanta, Athens, and Augusta regions of Georgia. The Atlanta Technology Angels set the valuation and led the Series A round for MooveGuru, which had a total round size of $1.9 million including converted debt. "The most attractive contribution from the Atlanta Technology Angels is the executive level support and coaching that they provide to our company," says Scott Oakley, CEO of MooveGuru, "and the capital will enable us to expand our workforce in the region to support our sales growth." "ATA members are excited by the potential of MooveGuru to grow at a rapid pace and believe in the ability of management to achieve that growth," says Joe Beverly, President of the Atlanta Technology Angels, and President of Corporate Payroll Services. The Atlanta Technology Angels (ATA) and Gwinnett Angels (GA) are member-led organizations of angel investors that recognize the power in working together and uniting the Southeast early-stage investment ecosystem. About MooveGuru In 2016, MooveGuru Inc. launched a free mover engagement program to real estate agents and brokers with the idea of connecting home buyers and sellers to convenience and savings on moving services. Using just-in-time delivery through artificial intelligence algorithms, MooveGuru Inc. ensures consumers receive agent-branded savings from national and local retailers as they step through the relocation process. Today, more than 300 brokerages, their agents, and clients are connected to the MooveGuru platform.
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Moderne Ventures Announces 2019 Midyear Passport Class
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Second Century Ventures Selects Inaugural Commercial Accelerator Class
WASHINGTON (July 18, 2019) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors, announced its first REACH Commercial Class today. REACH is a growth technology accelerator program helping launch companies into the real estate, financial services, banking, home services, and insurance industries. The newest track, REACH Commercial, focuses on accelerating innovative solutions for all aspects of the commercial real estate marketplace. The inaugural REACH Commercial class offers innovation in multifamily housing, vacation rental, lending, listing, smart office planning, and transaction management. "REACH Commercial will leverage an exceptional network of real estate industry professionals, strategic partners, investors, and mentors to increase the depth of the commercial real estate field and further advance our mission to keep REALTORS® at the forefront of the industry," said Bob Goldberg, CEO of the National Association of Realtors®, and President of Second Century Ventures. "We are thrilled to welcome this dynamic group of entrepreneurs revolutionizing the commercial real estate marketplace." The companies chosen for the 2019 REACH Commercial class are: Biproxi: End-to-end transaction platform for commercial real estate practitioners; Coeo: Open data CRE platform that matches brokers and users to their ideal space in seconds; CRE Simple: Integrated commercial real estate lending platform delivering transparency, speed and certainty; LulaFit: Luxury amenity management firm for Class A+ multifamily and commercial office spaces; Trove: Boutique vacation rental service delivering exceptional consumer experiences and maximum value for property owners; Twofold: Smart, zero-footprint furniture and structures for home and office space optimization. "REACH Commercial is uniquely positioned to help launch and accelerate the most promising new technology companies focused on delivering innovation at all levels of the commercial real estate eco-system," said Tyler Thompson, Managing Partner, Second Century Ventures. "The 2019 REACH Commercial class is a remarkable lineup of solutions benefiting property investors, sellers and practitioners alike." REACH Commercial will offer its 2019 class a robust curriculum including mentorship, education, a curated insight panel, exclusive networking opportunities, and significant exposure to the global real estate marketplace. Those chosen for the program have demonstrated solid business models, executable business plans and significant potential to influence our nation's economy. "We have selected six companies for the first REACH Commercial class that are already well on their way to being the market leaders in their spaces. They are changing how we buy and lease properties, live and work in them, and are providing end-to-end industry-changing platforms," said Bob Gillespie, Executive Director, REACH Commercial. "We have an outstanding 2019 class and look forward to helping them achieve exponential growth." REACH is a unique real estate technology accelerator created by Second Century Ventures, a strategic technology investment fund backed by the National Association of Realtors®, which leverages the association's more than 1.3 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH Accelerator program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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Realtor Survey Shows Decline in Foreign Investment in U.S. Residential Real Estate
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NAR's Strategic Investment Fund Opens Applications for iOi Pitch Battle
WASHINGTON (June 26, 2019) – Second Century Ventures, the National Association of Realtors®' strategic investment arm, is proud to present the opening of applications for the second annual Innovation, Opportunity and Investment Summit Pitch Battle. A select group of technology startups focused on real estate will compete with live presentations in front of the iOi Summit audience on Wednesday, August 21 in Seattle, Washington. "We are pleased to announce that Chris Smith, Co-Founder of Curaytor will once again emcee the event. The goal of the iOi Pitch Battle is to highlight how some of the most cutting edge and impactful startups are helping to define the future of real estate. All iOi Summit registrants are welcome to attend the live iOi Pitch Battle," said Glenn Shimkus, NAR VP of Strategy and Innovation. The Pitch Battle is a unique opportunity for tech startups focused on the real estate industry to provide a live demonstration in front of the iOi Summit 2019 audience. Selected startups will have the chance to have their product or service viewed by key influencers and venture investors, receive free press mentions, obtain an all-access pass to iOi Summit 2019, and the opportunity to receive personalized presentation coaching by Chris Smith of Curaytor. First place winner will also walk away with $15K cash and other valuable benefits. "If you consider yourself an innovator, entrepreneur, investor, or executive seeking to lead change, I encourage you to join the conversation. It's one you won't want to miss," said NAR CEO Bob Goldberg. Please visit https://www.nar.realtor/ioi/Pitch-Battle for more information. The National Association of Realtors® annual Innovation, Opportunity & Investment (iOi) Summit brings together the industry's top tech companies, investors and Realtors® to collaborate, network, and drive the industry forward. The two-day conference will take place in Seattle, Washington with a welcome reception beginning on Tuesday, August 20 at 5 p.m. and ending late afternoon on Thursday, August 22. The iOi Summit attracts attendees who are looking to embrace, leverage, and be part of the change that currently surrounds real estate. Hear the latest from entrepreneurs and global tech companies such as Amazon, Google, Facebook, Microsoft and others. Find out what products and services are poised to make a major impact on the industry. Learn how you can tap into these breakthroughs to better your business. The National Association of Realtors® is the world's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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Second Century Ventures REACH Accelerator Program Expands Worldwide
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U.S. Home Flipping Rate Reaches a Nine-Year High in Q1 2019
Total dollar volume of homes flipped with financing reaches 6.4 billion – a 12-year high Average flipping ROI continues to decline to an almost eight-year low, while gross flipping profits drop 12 percent from last year IRVINE, Calif. – June 6, 2019 — ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q1 2019 U.S. Home Flipping Report, which shows that 49,059 U.S. single family homes and condos were flipped in the first quarter of 2019, down 2 percent from the previous quarter and down 8 percent from a year ago to a three-year low. The 49,059 homes flipped in the first quarter represented 7.2 percent of all home sales during the quarter, up from 5.9 percent in the previous quarter and up from 6.7 percent a year ago — the highest home flipping rate since Q1 2010. Homes flipped in Q1 2019 sold at an average gross profit of $60,000, down from an average gross flipping profit of $62,000 in the previous quarter and down from $68,000 in Q1 2018 to the lowest average gross flipping profit since Q1 2016. The average gross flipping profit of $60,000 in Q1 2019 translated into an average 38.7 percent return on investment compared to the original acquisition price, down from a 42.5 percent average gross flipping ROI in Q4 2018 and down from an average gross flipping ROI of 48.6 percent in Q1 2018 to the lowest level since Q3 2011 — a nearly eight-year low. "With interest rates dropping and home price increases starting to ease, investors may be getting out while the getting is good, before the market softens further," said Todd Teta, chief product officer at ATTOM Data Solutions. "While the home flipping rate is increasing, gross profits and ROI are starting to weaken and the number of investors that are flipping is down 11 percent from last year. Therefore, if investors are seeing profit margins drop, they may be acting now and selling before price increases drop even more." Home flipping rate up from year ago in 62 percent of local markets Eighty-five of 138 metropolitan statistical analyzed in the report (62 percent) posted a year-over-year increase in their home flipping rate in Q1 2019, including Columbus, Georgia (up 83 percent); Raleigh, North Carolina (up 73 percent); Charlotte, North Carolina (up 65 percent); McAllen-Edinburg, Texas (up 55 percent); and Milwaukee, Wisconsin (up 49 percent). Along with Raleigh, Charlotte, and Milwaukee, other metro areas with a population of at least 1 million and a home flipping rate increasing in the double digits were San Antonio, Texas (up 47 percent); Houston, Texas (up 41 percent); Atlanta, Georgia (up 38 percent); Pittsburgh, Pennsylvania (up 36 percent); and Minneapolis, Minnesota (up 33 percent). The number of homes flipped reached new peaks in Q1 2019 for Raleigh, North Carolina and San Antonio, Texas in the first quarter of 2019. Home flip lending volume up 35 percent to 12-year high The total dollar volume of financed home flip purchases was $6.4 billion for homes flipped in the first quarter of 2019, up 35 percent from $4.7 billion in Q1 2018 to the highest level since Q2 2007 — over a 12-year high. Flipped homes originally purchased by the investor with financing represented 37.5 percent of homes flipped in Q1 2019, down from 39.5 percent in the previous quarter and down from 41.2 percent a year ago. Among 53 metropolitan statistical areas analyzed in the report with at least 1 million people, those with the highest percentage of Q1 2019 completed flips purchased with financing were San Diego, California (56.0 percent); Seattle, Washington (52.5 percent); San Francisco, California (51.7 percent); Denver, Colorado (51.6 percent); and Boston, Massachusetts (51.3 percent). 11 Markets where investors are doubling their ROI Among the 138 metropolitan statistical areas analyzed in the report with at least 50 home flips completed in Q1 2019, those with the highest average gross flipping ROI were Pittsburgh, Pennsylvania (131.2 percent); Flint, Michigan (127.6 percent); Shreveport, Louisiana (112.5 percent); Scranton, Pennsylvania (112.0 percent); and Knoxville, Tennessee (105.0 percent). Along with Pittsburgh, Pennsylvania metro areas with a population of at least 1 million and an average gross flipping ROI of at least 79 percent were Cleveland, Ohio (100.0 percent); Philadelphia, Pennsylvania (100.0 percent); Buffalo, New York (89.7 percent); and Memphis, Tennessee (79.2 percent). Average home flipping returns continue to slip Homes flipped in the first quarter of 2019 were sold for a median price of $215,000, a gross flipping profit of $60,000 above the median purchase price of $155,000, down from a gross flipping profit of $62,000 in the previous quarter and a gross flipping profit of $68,000 in Q1 2018 — to the lowest levels since Q1 2016. Of those 138 markets with at least 50 or more flips and a population greater than 200,000 in the first quarter of 2019, those that saw the lowest gross flipping profit were McAllen-Edinburg, Texas (profit of $8,752); Daphne, Alabama (profit of $15,761); Boise City, Idaho (profit of $18,332); Lexington, Kentucky (profit of $20,000); and San Antonio, Texas (profit of $23,596). Average time to flip nationwide at 180 days Homes flipped in Q1 2019 took an average of 180 days to complete the flip, up from an average 175 days for homes flipped in Q4 2018 but down from 182 days a year ago. Among the 138 metro areas analyzed in the report, those with the shortest average days to flip were McAllen-Edinburg, Texas (127 days); Memphis, Tennessee (136 days); Raleigh, North Carolina (142 days); Mobile, Alabama (144 days); and Phoenix, Arizona (151 days). Metro areas with the longest average days to flip were Naples, Florida (235 days); Bridgeport, Connecticut (230 days); New Haven, Connecticut (225 days); Provo, Utah (219 days); and Hartford, Connecticut (219 days). Flipped homes sold to FHA buyers increases from previous quarter Of the 49,059 U.S. homes flipped in Q1 2019, 14.2 percent were sold by the flipper to a buyer using a loan backed by the Federal Housing Administration (FHA), up from 13.2 percent in the previous quarter but down from 15.2 percent a year ago. Among the 138 metro areas analyzed in the report, those with the highest percentage of Q1 2019 home flips sold to FHA buyers — typically first-time homebuyers — were Worcester, Massachusetts (30.0 percent); Shreveport, Louisiana (29.0 percent); Modesto, California (27.3 percent); Hartford, Connecticut (27.2 percent); and Springfield, Massachusetts (27.0 percent). Eight zip codes with a home flipping rate of more than 30 percent Among 1,433 U.S. zip codes with at least 10 home flips in Q1 2019, there were eight zip codes where home flips accounted for more than 30 percent of all home sales, here are the top five: 93212 in Kings county, California (48.0 percent); 11433 in Queens county, New York (35.7 percent); 33147 Miami-Dade county, Florida (32.7 percent); 38115 in Shelby county, Tennessee (32.4 percent); and 92802 in Orange county, California (32.1 percent). About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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Second Century Ventures Announces 2019 Accelerator Class
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OJO Labs Raises $45 Million in Series C Funding to Accelerate Product Development and Fuel Expansion
Powerful technology offers the best home buying, selling experience for millions of consumers AUSTIN, Texas, March 19, 2019 -- OJO Labs, which empowers consumers to make better decisions by providing the AI-based personal assistant "OJO," has raised $45 million in Series C funding to accelerate its development and market expansion. The company will further increase its market-leading position with significant hiring in its data science, engineering, product and design teams. The round is funded by a group of participants deeply committed to both consumers and real estate industry professionals, including LiveOak Venture Partners, Realogy Holdings Corporation, Royal Bank of Canada and Northwestern Mutual Future Ventures. OJO is a leading-edge virtual assistant that engages home buyers and sellers through natural conversations using mobile messaging and innovative web experiences that reimagine the home search and transaction experience. OJO Labs noted the new financing was made possible due to massive traction the company has been gaining with both consumers and partners. Its product has been live in 12 U.S. markets and Toronto, Canada, and is now being rolled out at a large scale nationwide. "We have utilized a unique combination of AI technology and human operations to solve some very hard technical challenges," said John Berkowitz, CEO of OJO Labs. "Our early investments and willingness to be first to market with this type of product gave us a significant head start in building our now-patented technology. We have been incorporating valuable learnings into our product. Doubling down on our investments now will further accelerate our competitive edge and, more importantly, will enable us to deliver a truly incredible experience for millions of consumers." OJO is the only AI-based digital assistant that can understand a home buyer's or seller's needs, preferences and goals, giving it the ability to create a personalized experience during the entire process. Partnering with real estate agents and brokerages, OJO is available for consumers 24/7 to help with listing information, home discovery, neighborhood selection, budget or financing guidance, and education surrounding one of the largest purchases consumers make. When consumers are ready, OJO matches them with highly qualified agents who can best serve their needs. By providing both parties with a foundation of information through a warm hand off, OJO helps to establish trust between the agent and the consumer from the start. OJO's ability to engage consumers with a conversational interface in tandem with rich visual experiences powered by photo-recognition technology, data analytics and personalized insights makes it the most relevant and engaging home shopping platform available. Behind the scenes, OJO is supported by an extensive network of industry experts who supplement the platform's data with knowledge. Continuous data training improves the OJO platform to be smarter and more effective with every interaction. This patented combination of machine learning and human interaction is unlike any other industry technology. According to Berkowitz, the firm's revenue is ramping up fast. They are quickly expanding teams in each of their three offices - Austin, where OJO Labs is based; Minneapolis-St. Paul, where last fall, OJO Labs joined forces with leading real estate data services provider WolfNet; and St Lucia, where they operate their AI training and customer service teams. OJO Labs and WolfNet expect to add more than 50 new jobs in the two U.S. markets in the coming months. OJO Labs Executive Vice President of Engineering Qingqing Ouyang says she is looking to rapidly grow their data science, engineering, product and design operations. "We're hiring exceptional individuals who are energized by collaborating with talented peers, motivated by solving hard technical challenges and committed to providing the best experience for our customers," said Ouyang. "This is an exciting time for the OJO team. We are wholeheartedly embracing the challenges of using AI to help our customers to make one of the most important decisions of their lives." About OJO Labs Inc. OJO Labs is on a mission to empower people to make better decisions through the fusion of machine and human intelligence. The company's unique, patented AI technology products can conduct text conversations with consumers at scale. By combining natural language understanding with data and personalization, the products allow consumers to deeply engage in a purchase process before interacting with a salesperson. OJO Labs is backed by the two most active VC firms in Texas, leaders in real estate and financing industries, as well as key industry executives. OJO Labs has been recognized as a Best Places to Work in Austin by the Austin Business Journal, an Austin A-List and 50 On Fire winner, recognized in Comparably's 2018 Best Company Culture Awards, named a Built In Austin 2019 Best Company to Work For and is a 2019 Artificial Intelligence Excellence Awards recipient. The OJO team has decades of combined success scaling businesses and deep experience in data science, engineering, product marketing and operations.
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Second Century Ventures Launches REach Commercial Accelerator
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Moderne Ventures Announces Its Newest Passport Class
Moderne Ventures accepts eight new companies into its Passport program; companies address seismic shifts in real estate, finance, insurance and home services CHICAGO--Moderne Ventures, a venture investment fund, announced today the eight new companies accepted into its 2019 Moderne Passport Program, an intensive 7-month industry immersion program where companies receive strategic guidance, participate in over 100 one-on-one mentor meetings with senior executive leaders and administer pilots with corporations in the Moderne Network. The 2019 Passport Class companies are marketplaces, services and solutions using technologies, like blockchain and artificial intelligence, to help progress 100+ year old industries. This class has collectively raised over $150M in funding with collective valuations north of $700M. The new companies are: ByteGain — Los Altos, CA: Artificial Intelligence platform that increases lead quantity, quality and performance Eusoh — Los Angeles, CA: Spread the Love - the only community-based care plan for insuring pets Payfully — New York, NY: Get commissions paid while in contract Porch — Seattle, WA: Porch gets the Job Done: home service and maintenance for residential homes and buildings Sagegreenlife — Chicago, IL: Green living walls for greater spaces, places and life Snappt — Los Angeles, CA: Instant identity and financial verification to prevent fraud StreetWire — New York, NY: A data network for faster transactions and operational efficiency WattBuy — Washington, DC: We empower residents to find the best rates and take charge of their electricity "With every Passport class, we bring in the most innovative solutions addressing our industries. We help companies understand complexities, optimize their products and services and connect partners that can benefit most from them," said Constance Freedman, Moderne Ventures founder and managing partner. "This is one of the most interesting classes we have had yet, and we are excited to help them make an impact." About Moderne Ventures Moderne Ventures invests in technology companies in and around real estate, finance, insurance. Moderne operates both a Venture Fund and the Moderne Passport, an Industry Immersion Program designed to foster innovation, partnership and growth between industry partners and new emerging technology companies. Moderne works with over 700 executives and corporations within its core industries and evaluates over 4,500 emerging tech companies each year. Its principals have invested in over 80 companies including DocuSign, Updater, August, Better, Hello Alfred, TaskEasy, Homesnap and Leaselock.
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Redfin Survey: Gen-Xers and Older Millennials Believe Stocks Are a Better Investment than Real Estate
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Second Century Ventures Acquires Assets from Elmspring, Expands REach® Accelerator Program
WASHINGTON (December 18, 2018) — Second Century Ventures, the National Association of Realtors®' strategic investment arm has acquired certain assets of the Elmspring accelerator, a venture accelerator founded in 2014 by Adam Freeman and Tom Bretz, that invests in technology startups who aim to disrupt the real estate and housing industry. SCV's REach® Accelerator group will leverage Elmspring's exceptional network of real estate and housing industry professionals, investors, mentors, and strategic partners to accelerate innovators in the commercial real estate field and will open applications in early 2019 for a commercial- focused accelerator class. "The acquisition of these particular Elmspring assets was a priority for NAR and Second Century Ventures to further source the best technology for our members," said NAR CEO Bob Goldberg. "Bringing Elmspring into the REach® accelerator program will further NAR's vision outlined at the iOi conference and create a dynamic, competitive real estate market that will help NAR advance our members-first mission for years to come. Thanks to the foundation built by Adam and Tom, the Elmspring network will help further increase the depth of the REach​​​​​® accelerator portfolio with its first commercial class." "Adam Freeman, Kim Kleeman and I are extremely proud of starting the first seed stage real estate accelerator in the country. We now feel the time has come to hand off this successful program to NAR who can take it to the next level. We will continue to be involved as sponsors and mentors and look forward to watching the program grow," said Elmspring founder and Elmdale Partner CEO Tom Bretz. Elmdale Partners, LLC, a multi-faceted real estate platform, was founded in 2010 by entrepreneurs Thomas Bretz and Adam Freeman as a real estate acquisition and real estate services firm. Elmdale's unique real estate platform includes commercial and residential real estate, investments, brokerage, property management, title insurance, and commercial financing and development. Among other prominent accolades, Elmdale recently earned a spot in the top ten of Crain's 2018 Fast Fifty Companies. REach® is a unique strategic accelerator created by Second Century Ventures, an early-stage technology fund, backed by the National Association of Realtors®, which leverages the association's 1.3 million members and an unparalleled network of executives within real estate and adjacent industries. The REach® Accelerator program helps technology companies launch into the real estate vertical and its adjacent markets. The 9-month program provides education, mentorship and market exposure, and accepts fewer than a dozen companies each year to access one of the world's largest industries. For more on REach®, visit www.narreach.com and to sign up for the latest updates, including notification of 2019 commercial focused class application openings, visit www.narreach.com/learn-more. The National Association of Realtors® is America's largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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REach Technology Accelerator Named Among Best in Nation for Second Consecutive Year; Now Accepting Applications for 2019 Class
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Leading iBuyers Selling Nearly One in 10 Homes to Institutional Investors According to New ATTOM Data Solutions Analysis
Top Three Buying Entities Related to Companies Purchasing Single Family Homes as Rentals IRVINE, Calif. — Nov. 29, 2018 — ATTOM Data Solutions, curator of the nation's premier property database, today released an analysis that shows that nearly one in 10 homes sold so far in 2018 by the nation's two leading iBuyers — Opendoor and Offerpad — were purchased by institutional investor entities buying at least 10 homes. According to the analysis, a total of 743 homes sold by the two iBuyers — companies that buy directly from homeowners via all-cash offers — were purchased by institutional investors so far in 2018, representing 9.6 percent of all sales by those two iBuyers combined. That is up from 293 institutional investor purchases representing 6.6 percent of the iBuyer sales in 2017, and 65 institutional investor purchases representing 3.9 percent of the iBuyer sales in 2016. "Tight inventory is a common challenge facing both individual and institutional single family rental investors across the country," said Daren Blomquist, senior vice president with ATTOM Data Solutions. "Meanwhile the appetite for more SFR inventory continues to grow as a new wave of institutional capital builds. Industry innovators are rising to meet this challenge through a variety of inventory-inducing channels, including off-market, build-to-rent, and iBuyer initiatives." Top Three Buying Entities The top three institutional buying entities — CERBERUS SFR HOLDINGS LP, CSH PROPERTY ONE LLC, and TAH HOLDING LP — all appear to be related to companies purchasing single family homes as rentals. These institutional investors may be turning to iBuyers as a source of inventory even as other sources of inventory such as foreclosures have largely dried up in recent years. Institutional investor purchases represented just 2.3 percent of all U.S. home sales so far in 2018, down from 2.9 percent in 2017 and down from a peak of 7.4 percent in 2012, according to the ATTOM analysis. "There are a lot of buyers, both big and small, looking to grow their SFR portfolios and inventory is very tight. This is leading to creative ways to find new product — from build-to-rent programs, off-market inventory programs and iBuyer initiatives," said Kevin Ortner, CEO with Renters Warehouse, a company that manages more than 22,000 SFR properties in 42 states. "There are several firms positioning themselves to be able to help bring supply to meet the demands of investors, and I expect that will continue to grow. I'm also seeing investment in technology and data across the space allowing greater scale, efficiencies and insights." "A properly priced rental home today, there is almost limitless demand for it," said Gary Beasley, CEO and co-founder with Roofstock, an online marketplace for SFR properties that itself is working on ways to create SFR inventory for both retail buyers and institutional buyers. "We have to get creative about how to attract this inventory, and if it isn't available to create it." Methodology ATTOM Data Solutions analyzed public record sales deed data from its nationwide property data warehouse for sales by entities associated with Opendoor and Offerpad, broken down by purchase entity. Purchase entities that bought at least 10 homes from the two iBuyers combined were considered institutional investors. For overall home sales, ATTOM considered any entity buying 10 or more properties in a calendar year as an institutional buyer. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.
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Opportunity Zones Offer Favorable Real Estate Investing Options in Amazon HQ2 Markets According to ATTOM Analysis
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Moderne Ventures Announces Its New Class of Seven Passport Companies
CHICAGO--Moderne Ventures, a venture investment fund, hosted its third annual Moderne Portfolio Company & Industry Summit last week hosting over 120 leaders in real estate, insurance and finance. The leaders came together with Moderne's 40+ portfolio companies in working sessions to foster partnership, innovation and growth. At the Summit, Moderne announced seven companies selected for its 2018 Midyear Passport Program. These seven companies were selected from over 4,500 companies Moderne reviewed this year. Passport Program participants have demonstrated unique, defensible solutions that are augmenting and challenging real estate, finance, insurance and home services industries – multi-trillion dollar industries ripe for innovation and change. Companies selected into the Passport program will embark on an intensive 7-month industry immersion program where they receive strategic consulting to support the growth of their business, participate in over 100 one-on-one mentor meetings with senior executive leaders who are a part of the Moderne Network, capture pilot opportunities with leading corporations and garner exposure at major industry conferences. Constance Freedman, Moderne Ventures Founder and Managing Partner, who has recently been named one of the most influential women by HousingWire shares, "These companies are addressing some of the core challenges facing our industries on a global scale. They are positioned to make a dramatic impact. Moderne was created to accelerate that growth by helping our companies, and our industry partners, create mutually beneficial relationships, share market feedback, rapidly iterate, and scale." The Moderne Passport 2018 Midyear Class has collectively raised almost $80M in funding prior to joining the class and collective valuations north of $200M. The new companies are: Dwelo – Salt Lake City: Simple, seamless smart building technology platform Geo CV – New York: Truly automated 3D computer vision technology Havenly – Denver: Online interior design that's fun, convenient and affordable PERQ – Indianapolis: Increase online conversions with guided buying journeys powered by artificial intelligence Shyft – San Francisco: A technology and logistics company transforming the moving and relocation industry Sisu – Salt Lake City: Coaching and accountability sales platform Super – San Francisco: Home warranty that makes owning as easy as renting About Moderne Ventures Moderne Ventures invests in technology companies in and around real estate, finance, insurance and home services. Moderne most often looks outside its industries to find game changing innovation that can be applicable within them. Moderne operates both a Venture Fund and the Moderne Passport, an Industry Immersion Program designed to foster innovation, partnership and growth between industry partners and new emerging technology companies. Moderne works with over 700 executives and corporations within its core industries and evaluates over 4,500 emerging tech companies each year. Its principals have invested in over 60 companies including DocuSign, Updater, August, Better, Hello Alfred, TaskEasy, Homesnap and Leaselock.
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Best Neighborhoods for Real Estate Buying and Investing
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W+R Studios Announces Cloud Investor Connect
Program includes investor access to Cloud Investor Connect API to digitally transfer subject property and comps information to streamline valuation process. Initial launch will start in Southern California. HUNTINGTON BEACH, CA (July 17, 2018) - Real estate software company, W+R Studios, announced today the addition of a new feature in Cloud CMA called Cloud Investor Connect. This will allow Cloud CMA subscribers to send information on qualifying homes to an investor with the intent of receiving a cash offer to present to home sellers. The feature will first be introduced to Cloud CMA subscribers in the Southern California market. W+R Studios will also be publishing the "Cloud Investor Connect API," which will give potential investors an easy way to participate in the program. "At W+R Studios, all we do is make tools to help real estate professionals look awesome in front of their clients. We think the future of listing presentations is not just to provide a CMA with a suggested list price but to also have the opportunity to provide a valid cash offer on the home as well. We think agents that provide that type of experience to today's home seller are going to win" stated W+R Studios co-founder Greg Robertson. "Cloud CMA subscribers publish over 260,000 CMAs per month, and that number is growing" continued Mr. Robertson. "We believe we have the scale to help our agents participate in this growing iBuyer movement." Cloud Investor Connect will be released later this month in Southern California, starting with a limited number of zip codes. There is no extra cost to the agent. The investor will be represented by the participating agent, and investors will not contact home sellers directly. Interested investors can request access to Cloud Investor Connect API starting today. For more information, please visit Cloud Investor Connect. About W+R Studios Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 26 years of experience each developing and marketing real estate software solutions.
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Foreign Investment in U.S. Commercial Real Estate Remains Strong, China and Mexico Top Investors
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Prominent Real Estate Company Invests in Moxi Works Technology
January 18, 2018 – Pittsburgh, PA – Hanna Holdings, the holding company of Howard Hanna Real Estate Services, has become an investor in Moxi Works, a Seattle-based real estate technology company. Howard Hanna has committed to providing growth capital and ensuring a future of cutting-edge technology for the company's agents, as well as Moxi Works' more than 50 other brokerage clients. The Moxi Works suite of technology is highly sought-after in the industry. The company's fundamental mission is to provide best-in-class tools to help make agents more productive. Rather than having to rely on arms-length vendor relationships and tool fatigue – something that has plagued the industry for years – the Moxi Works investment gives Howard Hanna the ability to help shape the future technologies that will be core to their agents. Real estate leader Howard Hanna, became one of Moxi Works' earliest customers in August 2013, and after many years with positive experiences, are now taking their rewarding relationship to the next level. "Howard Hanna has been a client of ours for years and this investment shows their long-term commitment to delivering their agents the tools they need to succeed," said York Baur, CEO of Moxi Works. "This is not just an investment in technology, it's in investment in the future of Howard Hanna and their agents." This is not the first time Hanna Holdings has invested in real estate technology. Hanna Holdings acquired One Cavo in the fall of 2014, an online lead generation company, demonstrating their focus on marketing innovations and agent productivity technology. "We've always put a heavy emphasis on technology and industry innovations. We strive to provide our agents with the tools and services that will make their businesses more successful," said Hoby Hanna, President of Real Estate Brokerage at Howard Hanna Real Estate Services. "The investment from Hanna Holdings into Moxi Works is another step we're taking to simplify the lives of our agents." Hanna Holdings has also chosen to invest in Moxi Works because the company represents the real estate industry's only brokerage-owned technology platform – the Moxi Cloud. This investment paves the way for expanding the Moxi Cloud and Moxi tools beyond the 55 brokerages and 100,000 agents benefiting from it today. Hanna Holdings is excited to be in partnership with other Moxi Works' investors - Windermere Real Estate and Long & Foster Real Estate - to help shape the future of technology in the real estate industry. About Howard Hanna Howard Hanna Real Estate Services is the 3rd largest real estate company in America, the #1 privately owned broker in the nation, and the largest home seller in Pennsylvania, Ohio, and New York. The family-owned and operated real estate company specializes in residential and commercial brokerage service, mortgages, closing and title insurance, land development, appraisal services, insurance services, corporate relocation and property management. With 270 offices across PA, OH, NY, VA, MI, WV, NC and MD, our more than 9,000 sales associates and staff are guided by a spirit of integrity in all aspects of the real estate process. Discover more at www.howardhanna.com. About Moxi Works Moxi Works is a comprehensive open platform system for large residential real estate brokerages that serves over 100,000 agents and 50 brokerages nationwide. Moxi Works make brokerages more profitable by enabling their agents to be more productive, earning the highest adoption rates in the industry. Moxi Works' integrated tools are centered on sphere methodology that drastically increases agents' repeat and referral business by almost 40%, while lowering overall technology, training, and support costs for the brokerage. The open platform, known as the Moxi Cloud, has more than 40 tools and services in which brokerages can plug-and-play for their unique brokerage solution. More information at moxiworks.com.
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Matterport's Innovative 3D Reality Capture Technology Helps Protect Valuable Property Investments
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Realtor.com® Introduces "My Home" to Help Homeowners Manage Their Home Like an Investment
New home management dashboard brings the benefits of realtor.com® to homeownership SANTA CLARA, Calif., Aug. 23, 2017 -- Realtor.com®, a leading online real estate destination operated by News Corp subsidiary Move, Inc., today announced the release of My Home, a new feature available on realtor.com®'s desktop and mobile site which empowers homeowners to manage their home as an investment. The feature puts a stake in the ground to expand realtor.com® beyond search and become an indispensable resource to homeowners throughout their ownership journey. With My Home, realtor.com® provides homeowners with easily accessible tools and information needed to have a complete, all-in-one view of their home value, equity, financing options, neighborhood activity and trends, as well as home improvement projects that add value to their home. "At realtor.com®, we help people with one of the most basic and most important needs – their homes – which is often the biggest investment most people will ever make," said Ryan O'Hara, chief executive officer of Move. "Yet, the time they spend managing this asset once they are in the home is really limited. We're changing that with My Home. Now with personalized data at their fingertips, homeowners have more insight into their investment and are better equipped to make decisions such as when to sell or when to invest in upgrading their home to their dream home." As part of My Home, realtor.com® is introducing an enhanced home value estimate for homeowners that utilizes lender-grade valuation models to provide a better estimate of what a home is worth today and in the future. When an owner first enters My Home the dashboard provides an estimate of mortgage payments and equity, assuming a 20 percent down at the time of purchase. An owner can then update My Home with their current mortgage information to track payments and outstanding principal. It also shows financial savings options based on current mortgage rates and equity options. My Home taps into a growing generational trend of people staying in their homes longer. In 1985, about 10 percent of all homeowners were recent movers and in 2015, that figure dropped to five percent. As people stay in their homes longer, they have more equity in their property making it even more imperative to manage their home as an investment. For those looking to embark on a renovation, My Home leverages Remodelista, Move's design inspiration website, to inspire homeowners with a one-stop sourcebook for curated remodeling guides, daily design inspiration, and ideas for every room in the home. My Home is available today at realtor.com/myhome. This initial launch will provide an opportunity to tailor the experience for homeowners, while introducing additional home management tools over time. My Home is not a replacement for the value gained from speaking to a local real estate professional about the value of a home. It is a helpful feature for homeowners who want to manage their home as an asset and track the estimated value of their home. For more information, please visit: http://www.realtor.com/homemade/my-home/ About realtor.com® Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS.® For more information, visit realtor.com.
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U.S. Home Sellers Realized Average Price Gain of $51,000 in Second Quarter of 2017, Highest in 10 Years
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Moderne Ventures Closes $33 Million Early Stage Venture Fund
CHICAGO--Moderne Ventures, a Chicago-based venture capital firm focused on early stage investments in technology companies innovating in the real estate, finance, insurance and home services markets, today announced that it successfully closed its early stage venture investment fund (the "Fund") with $33 million in total commitments. Launched in 2015 by Constance Freedman, Moderne identifies and invests in cutting-edge technology companies who have a shared purpose of modernizing highly-regulated, multi-trillion dollar industries. These markets represent 20% of the U.S. Gross Domestic Product (GDP) and spend billions of dollars annually on marketing, technology and business services. Moderne's unique approach offers its portfolio companies more than just financing and expertise. The firm provides its early stage investments with proprietary access and exposure to the Moderne Network — more than 400 executives and corporate leaders who provide industry expertise, strategic guidance and business opportunities. Moderne's target investment size ranges from $200,000 to $3 million, primarily in seed to Series B stage companies. Current portfolio companies include TaskEasy, UrbanBound and Better Mortgage. "Moderne was founded on the principle that capital and expertise are no longer the only ingredients that drive success for early stage companies," said Ms. Freedman, Moderne Ventures' Founder & Managing Partner. "In order to be truly transformative, we have created the Moderne Network that fosters a symbiotic relationship between entrepreneurs and more established businesses seeking to redefine how they operate by embracing new technologies." Moderne also introduced the next iteration of its Accelerator program: Moderne Passport Program ("Passport"), a seven-month industry immersion program designed for technology companies of all stages and sizes. Passport leverages the Moderne Network and connects growth companies with customers and industry leaders. Ms. Freedman added, "Our immersion program attracts the cream of the crop companies on the bleeding edge of SaaS, data analytics, artificial intelligence and machine learning, and IoT. These are businesses that can create tremendous value by addressing the needs of global companies in the real estate, finance, insurance and home services markets to evolve and streamline their outdated processes." Since inception, Passport has had over 40 companies participate, and on average, companies increase their customer base by approximately 90% and have gone on to raise nearly $200 million in outside financing. Moderne is currently accepting Passport applications for its 2017 spring program, which will launch at Realogy Holdings Corporation's headquarters in May. About Constance Freedman Constance Freedman is the Founder and Managing Partner of Moderne Ventures, the Moderne Passport and Accelerator programs. Prior to launching Moderne Ventures, Constance was the head of Strategic Investments at the National Association of Realtors, where she launched and managed its investment arm, Second Century Ventures (SCV) in 2009 and founded its accelerator program, REach in 2013. Ms. Freedman led all of SCV's investments, including DocuSign, Updater and August. Previously, she was an investor with Cue Ball, spent seven years on an operating capacity at technology start-ups Molecular and Account4.com, and was a real estate agent for three years prior to her career in technology and investing. Ms. Freedman has invested in more than 40 technology companies and helped bring them to market. In 2014, Constance was recognized by Crain's Business in its prestigious 40 under 40 award and was also named on Crain's Chicago Top Tech 50. In both 2014 and 2015, Ms. Freedman was recognized on Swanepoel's Power 200 Most Powerful Individuals in Residential Real Estate and in 2015, named in Inman's Top 101 in Real Estate. She served on the Advisory Board for the National Venture Capital Association's Corporate Venturing Group from 2010–2013 and is on the board of overseers for the non-profit, From the Top. She is also an active mentor for startups at TechStars and other accelerator groups. Ms. Freedman earned a BS from Boston University and an MBA from Harvard Business School. About Moderne Ventures Moderne Ventures is a Chicago-based venture capital firm focused on early stage investments in the real estate, finance, insurance and home services industries. The Firm also runs an industry immersion and customer acceleration program that works with innovative technology companies of all stages and sizes to connect them with customers and industry leaders to build and implement a competitive advantage through innovation. Through its proprietary Network of more than 400 corporations and senior executives, Moderne provides its portfolio companies guidance, potential for capital and a chance to form business relationships with the most prominent companies in its industries. For more information please visit, https://www.moderneventures.com/.
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Realtor.com® Names 2017 Hottest College Investment Towns Ahead of National College Decision Day
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Affordability, Tight Supply Cause Vacation Home Sales to Plummet in 2016; Investment Sales Climb 4.5%
  WASHINGTON (April 11, 2017) — Last year's strongest pace of home sales in a decade included a sizeable drop in activity from vacation buyers and a jump from individual investors, according to an annual second-home survey released today by the National Association of Realtors®. The survey additionally found that vacation and investment buyers in 2016 were more likely to take out a mortgage and use their property as a short-term rental. NAR's 2017 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2016, revealed that vacation home purchases last year descended to an estimated 721,000, down 21.6 percent from 2015 (920,000) and the lowest since 2013 (717,000). Investment-home sales in 2016 rose 4.5 percent to 1.14 million from 1.09 million in 2015. Owner-occupied purchases jumped 12.5 percent to 4.21 million last year from 3.74 million in 2015 – the highest level since 2006 (4.82 million). Lawrence Yun, NAR chief economist, says vacation sales in 2016 tumbled for the second consecutive year and have fallen 36 percent from their recent peak high in 2014 (1.13 million). "In several markets in the South and West – the two most popular destinations for vacation buyers – home prices have soared in recent years because substantial buyer demand from strong job growth continues to outstrip the supply of homes for sale," he said. "With fewer bargain-priced properties to choose from and a growing number of traditional buyers, finding a home for vacation purposes became more difficult and less affordable last year." Added Yun, "The volatility seen in the financial markets in late 2015 through the early part of last year also put a dent in sales as some affluent households with money in stocks likely refrained from buying or delayed plans until after the election." Tight inventory conditions pushed the median sales price of both vacation and investment homes last year to levels not seen in roughly a decade. The median vacation home price was $200,000, up 4.2 percent from 2015 ($192,000) and the highest since 2006 (also $200,000). The median investment-home sales price was $155,000, up 8.0 percent from 2015 ($143,500) and the highest since 2005 ($183,500). With home prices steadily rising, an increasing share of second-home buyers financed their purchase last year. The share of vacation buyers who paid fully in cash diminished to 28 percent (38 percent in 2015), while cash purchases by investors decreased to 35 percent from 39 percent in 2015 and 41 percent in 2014. "Sales to individual investors reached their highest level since 2012 (1.20 million) as investors took advantage of record low mortgage rates and recognized the sizeable demand for renting in their market as renters struggle to become homeowners," said Yun. "The ability to generate rental income or remodel a home to put back on a market with tight inventory is giving investors increased confidence in their ability to see strong returns in their home purchase." Vacation sales accounted for 12 percent of all transactions in 2016, which was the lowest share since 2012 (11 percent) and down from 16 percent in 2015. The portion of investment sales remained unchanged for the third consecutive year at 19 percent, and owner-occupied purchases increased to 70 percent (65 percent in 2015). Greater interest in short-term rentals; South most popular destination Given the rising popularity of short-term rentals in locales throughout the country, it's no surprise there were slightly more investment and vacation buyers renting their property for less than 30 days. Forty-four percent of investors (42 percent in 2015) and 29 percent of vacation buyers (24 percent in 2015) did or tried to rent their property last year and plan to do so in 2017. Twenty-one percent of investment buyers and 15 percent of vacation buyers did not rent their home for short-term purposes last year but plan to try it in 2017. Vacation buyers' typically earned $89,900 ($103,700 in 2015), while investment buyers had a household income of $82,000 ($95,800 in 2015). Both were most likely to purchase a single-family home in the South, with vacation buyers preferring a beach location and investors choosing a suburban area. The top two reasons for buying a vacation home were to use for vacations or as a family retreat (42 percent) and for future retirement (18 percent), while investors mostly bought to generate income through renting (42 percent) and for potential price appreciation (16 percent). NAR's 2017 Investment and Vacation Home Buyers Survey, conducted in March 2017, surveyed a sample of households that had purchased any type of residential real estate during 2016. The survey sample was drawn from an online panel of U.S. adults monitored and maintained by an established survey research firm. A total of 2,099 qualified adults responded to the survey. The 2017 Investment and Vacation Home Buyers Survey can be ordered by calling 800-874-6500, or online at www.nar.realtor/prodser.nsf/Research. The report is free to NAR members and accredited media and costs $149.95 for non-members. The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
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89% of U.S. Investors Interested in Putting Their Money into Real Estate
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Investors shift to niche properties; fewer paying all cash, C.A.R. survey finds
LOS ANGELES, April 14, 2016 -- More real estate investors are turning to niche properties and away from investing in single-family homes and multifamily properties than they have in recent years, according to a CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) survey of its members about their interactions with real estate investors. C.A.R.'s 2016 California Investor Survey found 10 percent of investors purchased commercial, land, mobile homes, or other types of properties in the past year, up from 7 percent in 2015 and 6.7 percent in 2014. Given a lack of inventory of distressed homes on the market, the share of single-family homes being purchased by investors has been declining gradually since 2013. Seventy percent of investors purchased single-family homes in 2016, down from 78 percent in 2013. The share of investors who purchased multifamily properties also declined slightly, dipping from 21 percent in 2015 to 19 percent in 2016. Among the reasons investors cited for buying include good location (38 percent), followed by rate of return (30 percent), good price (17 percent), and future development potential (7 percent). Additional findings from C.A.R.'s "2016 Investor Survey" include: As real estate deals become increasingly harder to find, the investment climate in California has gotten more competitive. With the listing price and final sale price nearly equal, the number of days the property was on the market has declined, and a larger share of investment properties was located outside of the urban and suburban markets they previously dominated. With fewer available distressed properties, the share of equity transactions has increased steadily, rising from 70 percent in 2014 to 87 percent in 2016. Fewer investors (62 percent) are renting out their properties in 2016, compared to last year (65 percent). Twenty-six percent of investors are flipping their properties, unchanged from last year, but down from 28 percent in 2014. Twelve percent plan to leave the property vacant, use it as a vacation rental, or other use. More than three-fourths of investors remodeled their properties, and the median cost of the remodel increased from$10,000 in 2015 to $13,500 this year. As a sign of optimism, the vast majority (76 percent) of REALTORS® working with investors believed the property would increase in value in one year. This also applied to the long term with 71 percent saying the property would increase in value in five years. Investors in 2016 are planning to hold the property for longer--an average of 8.1 years, up from 6.1 years in 2015. While investors own fewer properties on average in 2016 (5.6), down from 6.4 in 2015 and 8.3 in 2014, a higher proportion of them own other properties. A record share of these other properties is located outside California (15 percent in other states and 2.4 percent in other countries). With higher real estate prices and more investors purchasing other properties within the past year, the share of investors who obtained financing jumped sharply from 34 percent in 2015 – where it had been holding steady for the past three years – to 45 percent in 2016. Conversely, fewer investors paid cash in 2016 (55 percent), compared to last year (66 percent). Investors cited personal savings (46 percent) as the primary source of cash funds, followed by proceeds from a previous investment (19 percent), and private investors (19 percent). C.A.R.'s "2016 California Investor Survey" was conducted in February and March 2016 in an effort to learn more about the role of investors in the California housing market.  The online survey sampled random REALTORS® throughout California who had worked with investors within the 12 months prior to March 2016. For complete survey results, visit http://www.car.org/marketdata/surveys/investorsurvey/ Leading the way...® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
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Vacation Home Sales Retreat, Investment Sales Leap in 2015
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Interactive Investment Analysis Made Easy with Valuate from RPR
Introducing the latest addition to RPR's vast array of analytical tools: Valuate®. As a web-based financial analysis and marketing tool for the purchase and sale of commercial and residential investment properties, Valuate allows practitioners to perform real time, interactive investment analyses in a collaborative work environment—one that leads to more insightful, impactful and efficient conversations with prospects and clients. "The commercial real estate business has long been dependent on Microsoft Excel for financial modeling, investment analysis, asset management and accounting functions," said Valuate Founder Bruce Kirsch. "There are many problems with Excel: files are shared as stagnant PDFs, it requires massive amounts of painstaking formatting, and it's incredibly treacherous to collaborate on and track versions." In contrast, Valuate's interactive interface allows users to respond on-the-spot to client inquiries and needs. "It's impossible to anticipate every seller curiosity when preparing for a pitch," said Kirsch. "Valuate's versatility makes the whole preparation and presentation process seamless. Agents can work alongside clients as they input assumptions, run scenarios, and quickly retrieve/share versions of listed properties they find most appealing," he said. This highly collaborative environment weeds out unattractive deals, prevents mistakes and omissions, and keeps all parties up to speed on the latest developments. Valuate at a Glance Alleviates many of the well-known pain points of investment analysis. No more multiple versions of stagnant PDF files. With Valuate, digital files are easily edited and shared with colleagues, partners and clients. Excellent platform to provide real time scenario analyses while pitching to prospects or updating existing clients. Make edits to the analysis on the fly for wherever the conversation leads; answers questions instantly. Auto population of certain data variables eliminates another traditional pain point: double data entry. Built in validation alerts users if entered data is out of bounds. "You made an input here that makes the investment lose money. Please change your input. "Helps clients understand at what price and under what assumption the investment looks attractive. Displays the full life cycle of an investment property; simulates the acquisition of the property, hold and operation, and then eventual sale. "What makes Valuate so versatile is that it works for every single market, every single property type, and for all market conditions," said Kirsch. "It performs both unlevered and levered financial analyses. You can even copy and paste any set of property monthly operating cash flow projections from ARGUS or Excel. It then allows you to analyze property purchases and sales by tying in purchase price and exit assumptions and sources of funds for both debt and equity, including complex equity partnerships of up to three players." To view the original post, visit the RPR blog.
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Home Flipping Increases in 75 Percent of U.S. Markets in 2015
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NAR's Second Century Ventures Taps Top Technology Executive Alex Lange to Grow Strategic Investments, Accelerator
  CHICAGO, October 27, 2015 — Second Century Ventures, the National Association of Realtors® strategic investment arm, has hired top technologist Alex Lange, former Market Leader chief technology officer, as an operating partner. Adding to SCV's future success is the promotion of Mark Birschbach to vice president. Lange will help run the venture capital fund, which focuses on early-stage technology companies, and its technology accelerator program REach®. Lange has acted as an entrepreneur in residence with SCV for the past year, mentoring the eight 2015 REach class companies and quickly becoming a trusted advisor to many of startup companies. "REach and Lange's mentorship has been invaluable," said David Manshoory, CEO of AssetAvenue.com, a member of the REach 2015 class. "Alex's depth of knowledge from his past career achievements has made him an incredible leader to work with, and I consider myself lucky to have crossed paths with him and have the pleasure of working alongside him. In my humble opinion, any company with Alex on its team has an unfair competitive advantage – he's something every company would want in its arsenal." Lange has more than 25 years of technology, product and start-up experience. Prior to joining SCV, he was chief technology officer at Market Leader, acquired by Trulia in August 2013, and co-founded Roost.com, a unique social marketing platform that was acquired by software company Vertical Response. Lange was recently included in a global Top 1,000 Chief Technology Officers list and is a graduate of the General Management Program at Harvard Business School. Birschbach joined SCV in 2013 and is responsible for identifying, evaluating and executing the fund's strategic investments and supporting existing SCV portfolio and accelerator companies. Previously, he was chief operating officer at Monthlys, a go-to marketplace for consumers to manage subscriptions and memberships to products and services. Birschbach is a graduate of the University of Notre Dame. "SCV and REach are the only venture fund and accelerator in the industry that have unparalleled access to NAR, the nation's largest trade association and a powerful influencer in the industry, and to its more than 1 million members," said Dale Stinton, president of SCV and NAR CEO. "With the addition of Alex and promotion of Mark, SCV has consolidated its position as the leading strategic investor in the real estate industry." Over the past eight years, NAR and SCV have invested in and cultivated dozens of innovative technology companies, including well-known names DocuSign, Xceligent, SentriLock and zipLogix, and past companies, ePropertyData and ifbyphone. The REach technology accelerator provides industry access and mentorship to startup technology companies over 9-months. While there are no shortage of technology accelerators, REach is among the biggest in the industry and has the largest network of mentors and experts; over 300 executive-level mentors and more than 4,000 Realtors® provide input and participate as beta testers to give the companies early product feedback and help build the right tools for the industry. Past participant companies include well-known names, including Updater, BombBomb, SmartZip and WeVideo. About Second Century Ventures Second Century Ventures (SCV) is an early-stage technology fund, backed by the National Association of Realtors®, which leverages the association's 1 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world's largest industries including real estate, financial services, banking, home services, and insurance. SCV seeks to define and deliver the future of the world's largest industries by being a catalyst for new technologies, new opportunities, and new talent. About REach REach® is a unique strategic accelerator created by Second Century Ventures, the investment arm of the National Association of Realtors®, which helps technology companies launch into the real estate vertical and its adjacent markets. REach is a 9-month program that provides education, mentorship and market exposure to help its portfolio companies access the trillion-dollar real estate market and leverage NAR's strategic expertise. REach® accepts fewer than a dozen companies each year to access one of the world's largest industries. Learn more at www.narreach.com. About National Association of Realtors® The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
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Dell and Intel Capital Invest in The DocuSign Global Trust Network
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New Survey Shows Local Real Estate Markets Heat Up With Investors
CAMPBELL, Calif., – (May 26, 2011) – Real estate investors by three to one will be more active in their local markets compared to typical homebuyers in the next 24 months, and 69 percent of investors say it’ll be easier to find properties in the near future[2], according to a new national survey of real estate investors released today by Move, Inc. (NASDAQ: MOVE), the leader in online real estate. The Move Investor survey also suggests local markets will be heating up with renewed investor interest and activity. Compared to a year ago, 62 percent of investors are paying more attention to home values in their local markets. Only 43.5 percent say it will be harder to find bargains and 41.5 percent expect it’ll be easier to sell their properties in the next six months. Meanwhile, 22 percent of investors are bullish and expect prices to rise in the next six to 12 months, and 53.5 percent expect prices to remain relatively the same. Twenty-three percent (23%) expect prices will fall in the next six to 12 months. The Move Investor survey also shows investors are positioned to compete vigorously with traditional first-time homebuyers for hot deals. Two-thirds of investors (65.5%) said they expect the problems first-time buyers are having in getting mortgages will make it easier for them to compete for properties. One in five investors (18.5%) say they’ll be cash-only buyers, a strategy that’s out of reach for most first-time buyers. Eight out ten (80.5%) expect cash discounts from sellers.   Today’s Investors, Not Stereotypical Deal Driven Experienced Flippers Contrary to the tactics used by investors known as ‘flippers,’ 50 percent of today’s real estate investors plan to hold their properties for five plus years. Only 11 percent expect to sell within 12 months of purchase. Two-thirds (67.5%) say they’re investing for the long term. Fifty-nine percent (59%) told Move they’re new to real estate investing, with 33.5 percent considering their first investment purchase and 8.5 percent in the process of buying and selling their first investment property. Another 17 percent said they just completed their first transaction and plan to make more. Only 36.5 percent have experience in more than one property transaction. When it comes to repairs and maintenance, 56.5 percent of investors say the repair and maintenance of investment property has not been difficult. Moving forward, 42 percent plan to invest their own time and energy to improve, repair and maintain their properties. The remainder said they’ll hire a contractor for repairs (29.5%) or purchase move-in-ready properties (28%). The majority (65.7%), don’t expect repair costs to exceed 20 percent of the property’s purchase price. “This data suggests today’s climate is hot for investing and is attracting a lot of new people that don’t fit the stereotypical deal-driven flippers that buy and sell properties quickly,” said Move, Inc. Chief Executive Officer, Steve Berkowitz. “They’re mostly entrepreneurial individuals that will make vital contributions to local communities by investing their own money and sweat equity to improve and maintain properties. These personal sacrifices made over the long run will help improve housing stocks, home values, property tax bases, and thousands of local communities.”   Investors Combine Cash and Credit to Snap Up Properties While cash is king in many circles, 75.5 percent plan to combine cash and credit to purchase properties as they build their real estate portfolio. In fact, 59.5 percent plan to put less than half down on their next property purchase and they’ll finance the rest. Those planning to use more than 50 percent cash and finance the remainder, account for 16 percent of today’s investors. Investors told Move the second most difficult challenge has been in finding financing (57%). “The fact that most real estate investors plan on combing cash and credit for their purchases goes against the conventional wisdom that investor transactions today are mostly cash-only sales. We were surprised to learn that 75 percent of investors are financing portions of their purchases. This suggests they’re seeing tremendous or once in a lifetime opportunities and may be tapping into credit or taking out second trusts on existing properties. The data also shows they’re expecting high returns to match the level of investment they’re making in an arena that is new to many investors,” Berkowitz said.   High Risk Leads to High ROI Expectations Based on the investments they’re making in today’s environment, real estate investors clearly expect high yield returns. Nearly half (48%) expect a profit of 20 percent or more from their property investments, a 4 percent annual rate of return over five years. Another 40 percent expect a profit of 10 percent, and only 6.5 percent expecting a 5 percent or less return on investment. Half (50%) of today’s real estate investors plan to hold their properties for five plus years.   Property Investments May Become Gateway to Homeownership For Many While the survey shows investors will outnumber traditional homebuyers three to one in the next two years, 27 percent said they’ll buy a primary residence as a first-time buyer as their first real estate investment. Nearly half (49%) plan to live in their investment property until it’s sold or turned into a rental property. Slightly more than half (56.5%) will put their investments to work as rental properties, and 28 percent plan to purchase vacation property that they’ll eventually sell. The Move Investor survey also found 30 percent of real estate investors are interested in buying retirement property as an investment. “The survey suggests some first-time buyers may be looking at investing as a strategy to becoming homeowners,” Berkowitz said. “While today’s market is tough for some, it’s also motivating millions to take an unconventional approach and creatively search for new ways of entering the housing market. This data also suggests the dream of homeownership is alive for millions that are keeping their eye on the future and using their initial home as the first in a series of what may become many investments in real estate. Investment opportunities -- perhaps next door or down the street -- will continue to knock at the door for many local investors with the vision, faith and interest in their local markets.”   About the Survey The survey was conducted by OmniTel, the weekly national RDD Probability Sample telephone omnibus service of GfK Custom Research North America. It is based on interviews conducted April 11 through 15.  Each Omnitel study consist of 1,000 completed interviews, made up of male and female adults (in approximately equal number), all 18 years of age and over.  Supplemental interviews were added to the national study in order to end up with a stable base size of 200 real estate investors. The supplemental interviews utilized the same sampling frame as the national frame.  The margin of error on weighted data is +/- 3% and higher for subgroups. The raw data are weighted by a custom designed computer program, which automatically develops a weighting factor for each respondent. This procedure employs five variables: age, sex, education, race and geographic region. Each interview is assigned a single weight derived from the relationship between the actual proportion of the population with its specific combination of age, sex, education, race and geographic characteristics and the proportion in our sample that week. Tabular results show both weighted and unweighted bases for these demographic variables.   About MOVE, INC. Move, Inc. (NASDAQ:MOVE) is the leader in online real estate with 14.1 million monthly visitors[3] to its online network of websites. Move, Inc. operates: Move.com, a leading destination for information on new homes and rental listings, moving, home and garden and home finance; REALTOR.com®, the official website of the National Association of REALTORS®; MortgageMatch.com, Moving.com; SeniorHousingNet; ListHub; and TOP PRODUCER Systems. Move, Inc. is based in Campbell, California.   This press release may contain forward-looking statements, including information about management’s view of Move’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances. Contact:            Julie Reynolds 805.557.3080 / [email protected] Jennifer DuBois 805.557.3087 / [email protected] Danielle Ferris 415.904.7070 / [email protected] [1] Move, Inc., Investor Survey - 33% of investors plan to purchase property in the next two years compared to 8.6% of all  homebuyers [2] Next six months - April 17, 2011 to October 17, 2011 [3] comScore April 2011 Media Metrix, Key Measures Report
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TORONTO, Sept. 22 /CNW/ - Nearly two-thirds (64 percent) of Chief Financial Officers (CFOs) surveyed plan on making investments once the economy improves, and the top areas they are targeting include information technology and real estate. Twenty-one percent of respondents said they will be sourcing new or upgraded information technology systems and 20 percent plan to invest in new locations or real estate. More than one-quarter (27 percent) do not plan on making any investments. The survey was developed by Robert Half Management Resources, the world's premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 270 CFOs across Canada. CFOs were asked, "In which one of the following areas are you most likely to invest once the economy improves?" Their responses: Will invest - 64% New or upgraded IT systems - 21% New locations or real estate - 20% New products or service lines - 16% Mergers or acquisitions - 6% Other - 1% None/will not invest - 27% Don't know/refused - 9% "As companies emerge from the downturn, previously postponed investments will again be considered, including technology infrastructure, new office locations and new product or service offerings," said David King, Executive Vice President for Robert Half Management Resources' Canadian operations. "Although finance executives may remain cautious when making large expenditures, they understand that these initiatives will help the company emerge stronger and more profitable." King added, "When making new investments in areas such as technology, companies will need to secure the right mix of specialized talent necessary to manage complex initiatives. Creating a staffing plan can help businesses maintain efficiency and effectiveness through periods of growth and transition." Wise Agent is Now Integrated with DocuSign First American Title Announces AgentFirst Real Estate App For iPhone and iPad Inman's Top 100 Most Influential People  
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