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Tech Powerhouse Inside Real Estate Announces New Financial Partner, Doubles Down on Long Term Vision
Major investment from new financial partner, Lovell Minnick Partners will fuel Inside Real Estate's continued growth, finance future acquisition opportunities and help attract top talent. DRAPER, UT, AUGUST 20, 2019: Inside Real Estate, one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 top brokerages, agents and teams announced today an agreement in which Lovell Minnick Partners, a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, will become the company's new primary financial investor, backing their long-term strategy and vision. The investment comes during a period of substantial revenue growth and sustained profitability over the past several years along with the addition of hundreds of top brokerages to the Inside Real Estate platform including two national franchise brands in 2019 alone. "With their winning strategy and products, Inside Real Estate has built a growing, profitable and scaled business in an industry filled with small point solution providers," said John Cochran, LMP Partner. "We've been following the company's traction in the space and believe the platform is uniquely positioned for success. We have seen first-hand the powerful impact Inside Real Estate's products have for its customers by increasing brokerage profitability, driving team and agent success and enhancing business differentiation. We're thrilled to be backing this exciting business and extremely capable team." The leadership team at Inside Real Estate will continue to invest and execute full steam ahead on the company's strategy and independent vision. When asked about the announcement, Ned Stringham, CEO of Inside Real Estate commented, "This new partnership provides our customers the continued confidence that Inside Real Estate will remain an independent, reliable and innovative tech partner and support the growth of their real estate business for years to come." Stringham also noted, "LMP has an exceptional track-record of picking winners. It's an honor to have their confidence and support." The transaction will fuel Inside Real Estate's continued growth, provide financing for future acquisition opportunities and help create the best environment to attract, develop and retain top talent. GCA acted as an exclusive financial advisor to Inside Real Estate in the transaction. Morgan, Lewis & Bockius served as legal counsel to LMP, while Parr Brown Gee & Loveless as counsel to Inside Real Estate. Additional Details for Existing Inside Real Estate Customers: Our strategy as a business remains the same: we are committed to being a trusted, independent technology partner who keeps the interests of you, our valued customers, at the heart of our strategy There will be no changes to our leadership team or day to day operations of the business. You'll continue to receive the great products & services in the same manner that you do today With the backing of Lovell Minnick Partners, we can continue to attract top talent, innovate and deliver the very best technology solutions to our customers while supporting your success well into the future About Inside Real Estate Inside Real Estate is one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 agents, teams and top brokerages. The company's flagship platform, kvCORE, is a modern and comprehensive solution known for delivering profitable growth at every level of a brokerage organization. Built with a scalable and flexible infrastructure, kvCORE enables brokerages to create their own unique technology ecosystem to enhance and differentiate their brand and culture. With an accomplished leadership team and over 175 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success for its growing customer base. Learn more at insiderealestate.com About Lovell Minnick Partners LLC Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $3.2 billion in committed capital and has completed investments in over 50 platform companies. Over its 20-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, and without relying upon excessive financial leverage. For more information, please visit www.lmpartners.com.
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Lovell Minnick Partners Acquires ATTOM Data Solutions, Leading Provider of Real Estate Data and Analytics
New Partnership Positions Market-Leading Property Data Expert for Sustained Growth PHILADELPHIA, LOS ANGELES and NEW YORK, January 8, 2019 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced it has completed the acquisition of ATTOM Data Solutions ("ATTOM" or "the Company"), a leading provider of national real estate data and analytics. Lovell Minnick acquired ATTOM from Renovo Capital and Rosewood Private Investments. Financial terms of the private transaction were not disclosed. Headquartered in Irvine, California, ATTOM manages a comprehensive data platform that draws upon a wide range of sources to provide 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. ATTOM licenses its data to companies in the real estate, mortgage, insurance, marketing and adjacent industries. "ATTOM's data provides mission-critical insights to enterprise clients who seek to make well-informed business decisions with the benefit of historic, rich and near real-time data," said Jason Barg, Partner, Lovell Minnick Partners. "We're excited to partner with CEO Rob Barber and his team who have an excellent reputation for leadership and innovation in the real estate data and information services market." "ATTOM remains focused on expanding our seamless end-to-end data platform to deliver greater value for our customers as we continue to grow our market share in our core markets and build out our footprint in new end-markets across the U.S.," said Barber. "We look forward to the next chapter of our growth, supported by the experience and resources of Lovell Minnick Partners, as we further strengthen our position as the premier one-stop shop for high-quality real estate data." Lovell Minnick Partners has strong experience investing in technology-enabled service providers in the financial services sector, such as Engage People Inc., an innovative, market-leading solutions provider for the global loyalty and incentive industry, and more recently, SRS Acquiom, a market-leading provider of technology-enabled solutions to facilitate private market M&A transactions. Lovell Minnick Partners also has deep industry knowledge and relationships in the property sector developed through proprietary research and through prior investments in the space such as J.S. Held, a specialty advisory firm that provides property loss consulting among other services, and CenterSquare Investment Management, a global investment manager focused on actively managed real estate and infrastructure strategies. "ATTOM's management team has generated strong organic growth and successfully pursued accretive strategic opportunities such as their acquisition of neighborhood data provider Onboard Informatics in early 2018," said John Cochran, Partner, Lovell Minnick Partners. "We believe the Company's innovative technology platform, focus on superior data quality and customer service, and its recurring license revenue model position ATTOM extremely well for continued success in the space. We are eager to support management in executing their strategic plan to build the leading technology platform in the real estate data industry." ATTOM's extensive property database is also used to power consumer-facing websites such as RealtyTrac.com, Homefacts.com and HomeDisclosure.com. Morgan Lewis served as LMP's legal counsel. GCA Advisors acted as financial advisor to ATTOM, while Venable LLP served as ATTOM's legal counsel. Monroe Capital provided debt financing for the transaction. About Lovell Minnick Partners LLC Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. With offices in Philadelphia, Los Angeles and New York, Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $2.7 billion in committed capital and has completed investments in over 45 companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance brokerage and services, financial and insurance technology and business services. For more information, please visit www.lmpartners.com. 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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Cushman & Wakefield Announces Closing of Its Initial Public Offering of Ordinary Shares
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Cascade Sotheby's International Realty Launches Asia Desk to Serve Growing Demand for Pacific NW Investment Property
With increased demand for U.S. real estate from foreign buyers—and Oregon in particular—Cascade Sotheby's recruits Michael Zhang to serve Asian markets PORTLAND, ORE. (JUNE 26, 2018) -- With consistent demand for real estate in the Pacific Northwest and a record number of foreign buyers scooping up residential properties, Cascade Sotheby's International Realty has launched an Asia Desk to serve the real estate and relocation needs of Asian buyers. Cascade Sotheby's has appointed a premiere broker and expert in relocation and cross-cultural training, Michael Zhang, to grow that department. A triple threat talent as an elite principal broker, and relocation and cross-cultural training expert, Zhang will be responsible for building the Asia Desk and its myriad services for buyers in Asian markets. He will also collaborate with the Sotheby's International Realty offices in Asia to assist buyers looking for investments in the Pacific Northwest. He has worked with global companies like Boeing, Microsoft, Johnson and Johnson and recently worked as Cross-Cultural Training Consultant for the prestigious CARTUS Global Performance Solutions. Zhang will be joined by his business partner and wife, Vivian Chen, who is expert at marketing to Asian buyers. Chen most recently worked as a senior consultant in Asia Pacific at CartUS and studied at Hamburg University in Germany. She speaks fluent English, Chinese, German and Japanese which will be invaluable to Cascade Sotheby's service to international buyers. "There are many investors in Asian countries who are experiencing new wealth and looking for investment opportunities around the lifestyle and environmental wellness that Oregon and SW Washington have to offer," says Zhang. "These investors love prestigious global brands like Prada, Tiffany's and Sotheby's—the Sotheby's brand positions the Cascade Sotheby's Asia Desk to provide world-class, white glove investment, relocation and cultural integration services these buyers expect. I am delighted to have this exceptional opportunity to unite these buyers with investment opportunities here." According to the National Association of Realtors, the gradually expanding US and global economies should keep foreign buyer demand at a robust level. A recent article in the Los Angeles Times states that foreigners bought 284,455 properties in the 12 months that ended March 31, about a third more than a year earlier. Dollar volume surged nearly 50% to $153 billion, also a record for the survey first taken in 2009. The article states that Chinese nationals were the biggest buyers, purchasing $31.7 billion worth of property, up from $27.3 billion a year earlier and more than ever before, according to the association. "Recruiting the multitalented expertise of a principal broker like Michael Zhang is of huge benefit to assisting the growing international interest in real estate here—his influence and impeccable reputation help position Cascade Sotheby's as a leader in uniting foreign buyers with extraordinary residential real estate throughout Oregon and SW Washington," says Deb Tebbs, founder and chief executive officer, Cascade Sotheby's International Realty. "The global network of Sotheby's International Realty enables us to stay ahead of buying trends and tap a huge international referral network—and our new Asia Desk is poised to help buyers and sellers alike fulfill their real estate dreams." Another significant differentiator for Cascade Sotheby's Asia Desk is Sotheby's International Realty's recent alliance with Chinese real estate site Juwai.com: the alliance enables the luxury real estate brand to generate Chinese buyer interest on one of the world's most prominent real estate websites with over two million monthly visitors. In addition, Cascade Sotheby's chief operating officer, Michael W. Kosmin, has lived and worked in Asia for several years and since 2005 was responsible for property development projects in Asian markets. Before moving to Bend, Oregon three years ago, Kosmin lived in Indonesia where he was the managing director at Club Bali. With deep experience in Asian real estate markets, Kosmin will support the development of Cascade Sotheby's Asian Desk catering to clients looking at real estate in the Pacific Northwest. Cascade Sotheby's leverages Sotheby's international offices, presence and prestige in China to be of service to that market. "It is a huge advantage to Cascade Sotheby's brokers and clients that company management has first-hand international work experience with an emphasis on serving international clientele," says Zhang. Cascade Sotheby's affiliation with Sotheby's International Realty offers a distinctive advantage to reach an affluent global audience. With over 20,000 sales associates in approximately 880 offices and 69 countries and territories, the Sotheby's network provides a profound international reach to market properties in Oregon and SW Washington. Zhang and Chen now join the growing team at Cascade Sotheby's International Realty, which exceeded $1.3 billion in closed sales in 2017 and continues its innovative approach to uniting extraordinary lives with extraordinary homes building on these statistics: $30 million in company revenue in 2017 325% sales growth from 2015 to 2017 More than two times the market share in Central Oregon than closest competitor More than 250 brokers across Oregon and SW Washington More than 80 new brokers signed in 2017 alone 34 new agents year-to-date 2018 representing $140 million in sales revenue Average price point for Cascade Sotheby's agents is 33% higher than other agents in Portland and SW Washington 11 offices in Oregon and SW Washington About Sotheby's International Realty Affiliates LLC Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into 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 full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. About Cascade Sotheby's International Realty Harnessing the worldwide recognition and prestige of the Sotheby's name, Cascade Sotheby's International Realty expertly represents the most distinctive properties at every price range. The firm's 11 strategic locations throughout Oregon and southern Washington form the most expansive luxury real estate network in the Pacific Northwest. Cascade Sotheby's International Realty brokers are masters of their craft, combining local expertise and global connections to artfully unite extraordinary places with extraordinary lives. The firm achieved a billion dollars in sales in the first 11 months of 2016, joining only 25 Sotheby's International Realty affiliates in the world with this distinction. Exceptional service, continual innovation, and unrivaled market knowledge continue to set Cascade Sotheby's International Realty apart as an industry leader.
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Foreign Investment in U.S. Commercial Real Estate Remains Strong, China and Mexico Top Investors
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eXp World Holdings Is Trading on Nasdaq
BELLINGHAM, WASH. — May 21, 2018 — eXp World Holdings, the holding company for eXp Realty, the largest single owned residential real estate brokerage by geography in North America, announced its common stock will commence trading today on the Nasdaq Global Market under the ticker symbol "EXPI." "Today marks a special day in the history of eXp Realty. Our move to Nasdaq is a continuation of almost nine years of iterating around the long-term value proposition for real estate professionals. We are proud of our ability to be able to deliver on our promise to our agents, brokers, staff and shareholders who have believed in our vision over the years," said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About eXp World Holdings eXp World Holdings, Inc. (NASDAQ: EXPI) is the holding company for eXp Realty, LLC, the largest residential real estate brokerage by geography in North America. eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 11,000 agents in 49 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth. For more information, please visit the company's website at www.eXpRealty.com.
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Prominent Real Estate Company Invests in Moxi Works Technology
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Matterport's Innovative 3D Reality Capture Technology Helps Protect Valuable Property Investments
Matterport Drives Transparency Resulting in Fair and Fast Payout for Property Owners Attempting to Get Lives and Businesses Back on Track SUNNYVALE, Calif., Dec. 14, 2017 -- Emerging 3D reality capture technology is helping property owners protect against insurance losses, both before and after disaster strikes. Matterport, the immersive 3D media technology company based in Silicon Valley, is being called a "game changer" by professionals in the property claims market. After disasters, property owners, public adjusters, contractors, and attorneys face substantial obstacles when assessing structures for repair. Damage must be precisely documented, which can't be done comprehensively with 2D photos or video. In addition, the claims process can take months, during a time which a building's condition can change, further complicating the claims and rebuilding process. This provides a real issue for owners who have to complete repairs as quickly as possible, sometimes before the insurance claim is sorted. Owners need to proactively "freeze" (or capture) their properties in time, so they can easily proceed with repairs and the claims process in the event of loss. While photography and videos are both tools that can be used, they don't provide nuance, which is why many property owners today have turned to Matterport's immersive 3D and virtual reality (VR) platform to record their spaces in pre-and-post-damage condition. "We are pleased to see homeowners, claims adjusters and insurance professionals adopting our 3D reality capture technology to document their property," said Matterport CEO Bill Brown. "As seen with the recent devastation wrought by natural disasters across the United States, Matterport's ability to capture an exact replica of a property helps to provide the fairest outcomes, cuts time and expense for insurance professionals and expedites the insurance claims and rebuilding process for property owners. Matterport technology is not only cost effective and simple to use but also produces results that are far superior to 2D photography." Ft. Lauderdale, FL-based WriteLoss, a business that documents property damage, started using Matterport cameras and cloud-based services over 18 months ago, in over 500 cases across 36 states. "The Matterport technology precisely captures a property's condition at a specific moment in time in a way that's game-changing," said David Herring, CEO of WriteLoss. "The immersive nature of the technology provides visceral, detailed views of a property and what is needed to fix it. A decision-maker can be located thousands of miles away and yet feel like she is walking through the property at her own pace, while deciding what to see." "Anyone who lives in a hurricane, flood, fire or earthquake zone should really consider getting a 3D model of their property in case disaster hits," added Herring. "But the same goes for business or homeowners anywhere. It's an inexpensive way to ensure you are financially protected should you experience a loss as regular as, say, overhead water damage. We tell people to hold on to receipts, but insurance companies want to see photo documentation because that's what changes the outcome and makes it better for people, and I can't think of a better way to document that than Matterport." Founded in 2011, Matterport gives people the freedom to experience any place at any time and from anywhere. There are numerous applications across industries beyond property recovery, including real estate, hospitality, travel, entertainment, construction, and others. Matterport's easy-to-use platform captures immersive 3D tours, virtual reality experiences, Google Street View inside view tours, 3D floor plans, guided tours and more. The all-in-one technology requires little to no training to operate, and a 2,000-square-foot space can be captured in under an hour. About Matterport Headquartered in Sunnyvale, CA, Matterport is an immersive media technology company that delivers an end-to-end system for creating, modifying, distributing, and navigating immersive 3D and virtual reality (VR) versions of real-world spaces on Web, mobile devices, and VR headsets. The Matterport Pro Camera and Cloud Services make it quick and easy to turn real-world places into immersive virtual experiences. More information about Matterport is available at www.matterport.com. To learn more about becoming a Matterport Service Provider, visit our Service Provider Program.
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Realtor.com® Introduces "My Home" to Help Homeowners Manage Their Home Like an Investment
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U.S. Home Sellers Realized Average Price Gain of $51,000 in Second Quarter of 2017, Highest in 10 Years
Average Homeownership Tenure Increases to New Record High of 8.05 Years; Cash Sales Share of Home Sales Increases Annually For First Time in Four Years; Institutional Investor Share of Sales Up in Memphis, Charlotte, Nashville, Baltimore, Raleigh IRVINE, Calif. – July 27, 2017 — ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q2 2017 U.S. Home Sales Report, which shows that homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000. The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent. The report also shows that homeowners who sold in the second quarter had owned an average of 8.05 years, up from 7.85 years in the previous quarter and up from 7.59 years in Q2 2016 to the longest average homeownership tenure as far back as data is available, Q1 2000. “Potential home sellers in today’s market are caught in a Catch-22. While it’s the most profitable time to sell in a decade, it’s also extremely difficult to find another home to purchase, which is helping to keep homeowners in their homes longer before selling,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “And the market is becoming even more competitive, with the share of cash buyers in the second quarter increasing annually for the first time in four years.” Cash sales share increases annually for first time since Q1 2013 All-cash sales represented 28.9 percent of all single family and condo sales in Q2 2017, down from 31.3 percent of all sales in the first quarter, but up from 27.3 percent of all sales in Q2 2016 — the first annual increase in the share of cash sales since Q1 2013. Among major metropolitan areas with a population of at least 1 million, those with the highest share of all-cash sales in Q2 2017 were Raleigh, North Carolina (57.4 percent); Miami (46.2 percent); Detroit (45.2 percent); Oklahoma City (44.6 percent); and Tampa-St. Petersburg, Florida (43.2 percent). Institutional investor sales share down nationwide, up in 26 percent of local markets The share of U.S. single family home and condo sales sold to institutional investors (entities buying at least 10 properties in a calendar year) was 2.1 percent in the second quarter, up from 1.8 percent in the first quarter but down from 2.6 percent a year ago. Among 73 metropolitan statistical areas with a population of at least 200,000 and at least 40 institutional investor sales in Q2 2017, those with the highest share of institutional investor sales in the second quarter were; Macon, Georgia (8.9 percent); Memphis, Tennessee (8.6 percent); Killeen-Temple, Texas (8.3 percent); Clarksville, Tennessee (7.8 percent); and Birmingham, Alabama (7.4 percent). Counter to the national trend, 19 of the 73 metro areas (26 percent) posted year-over-year increases in the share of institutional investor purchases, including Memphis, Tennessee (up 6 percent); Charlotte, North Carolina (up 6 percent); Nashville, Tennessee (up 37 percent); Baltimore, Maryland (up 3 percent); and Raleigh, North Carolina (up 42 percent). Highest average home seller returns in Northern California, Seattle and Denver Among 118 metropolitan statistical areas with at least 1,000 home sales in Q2 2017 with previous sale information available, those with the highest average home seller returns were San Jose, California (75 percent); San Francisco, California (65 percent); Seattle, Washington (63 percent); Modesto, California (62 percent); and Denver, Colorado (62 percent). “An ongoing issue in the greater Seattle area is a lack of supply which is aggressively driving up home prices,” said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market. “The only short-term solution is to build more homes, but thanks to land constraints and construction costs, this simply is not happening at a rate that you would normally expect in a market like this. Unfortunately I do not expect this trend to change until zoning and regulation costs change, which is unlikely in the current political climate.” Average homeownership tenure down in Chicago, Dallas, Philadelphia, DC and Detroit Counter to the national trend, the average homeownership tenure in Q2 2017 decreased from a year ago in 25 of 89 metro areas analyzed in the report (28 percent), including Chicago, Dallas, Philadelphia, Washington, D.C., and Detroit. Among major metropolitan areas with a population of at least 1 million, those with the longest average homeownership tenure for home sellers who sold in the second quarter were Boston, Massachusetts (11.91 years); Hartford, Connecticut (11.90 years); Providence, Rhode Island (10.28 years); San Francisco, California (9.87 years); and San Jose, California (9.71 years). “Across Southern California we are witnessing concerns over housing affordability keeping homeowners in current homes for longer tenure, and keeping available home inventories low in supply.” said Michael Mahon, president at First Team Real Estate covering the Southern California market, where the average homeownership tenure reached a new all-time high of 9.55 years in Q2 2017. Distressed sale share drops to lowest level since Q3 2007 Total distressed sales — bank-owned (REO) sales, third-party foreclosure auction sales, and short sales — accounted for 13.4 percent of all single family and condo sales in Q2 2017, down from 17.1 percent in the first quarter and down from 15.2 percent in Q2 2016 to the lowest level since Q3 2007. Among 141 metropolitan statistical areas with a population of at least 200,000 and at least 100 total distressed sales in Q2 2017, those with the highest share of total distressed sales were Atlantic City, New Jersey (40.2 percent); Canton, Ohio (31.0 percent); Columbus, Georgia (27.8 percent); Trenton, New Jersey (27.7 percent); and Akron, Ohio (27.5 percent). Counter to the national trend, 39 of the 141 metro areas (28 percent) posted year-over-year increases in share of distressed sales, including New York, New York (up 13 percent); Denver, Colorado (up 3 percent); Pittsburgh, Pennsylvania (up 31 percent); Cincinnati, Ohio (up 19 percent); and Cleveland, Ohio (up 5 percent). FHA buyer share drops to lowest level in more than two years Sales to FHA buyers (typically first time homebuyers or other buyers with a low down payment) represented 14.3 percent of all U.S. single family and condo sales in Q2 2017, down from 14.4 percent of all sales in the first quarter and down from 16.0 percent in Q2 2016 to the lowest level since Q1 2015. Among metro areas with a population of at least 1 million, those with the highest share of sales to FHA buyers were Kansas City (25.0 percent); Salt Lake City (24.5 percent); Indianapolis (24.5 percent); Houston (23.9 percent); and San Antonio (23.6 percent). Report methodology The ATTOM Data Solutions U.S. Home Sales Report provides percentages of distressed sales and all sales that are sold to investors, institutional investors and cash buyers, a state and metropolitan statistical area. Data is also available at the county and zip code level upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. About ATTOM Data Solutions ATTOM Data Solutions is the curator of the ATTOM Data Warehouse, a multi-sourced national property database that blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, health hazards, neighborhood characteristics and other property characteristic data for more than 150 million U.S. residential and commercial properties. The ATTOM Data Warehouse delivers actionable data to businesses, consumers, government agencies, universities, policymakers and the media in multiple ways, including bulk file licenses, APIs and customized reports. ATTOM Data Solutions also powers consumer websites designed to promote real estate transparency: RealtyTrac.com is a property search and research portal for foreclosures and other off-market properties; Homefacts.com is a neighborhood research portal providing hyperlocal risks and amenities information; HomeDisclosure.com produces detailed property pre-diligence reports.
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Moderne Ventures Closes $33 Million Early Stage Venture Fund
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Realtor.com® Names 2017 Hottest College Investment Towns Ahead of National College Decision Day
  SANTA CLARA, Calif., April 26, 2017 -- Realtor.com®, a leading online real estate destination operated by News Corp subsidiary Move, Inc., today announced its top picks for college towns in the U.S. where it is less expensive to buy versus rent as high school seniors and their parents around the country gear up for National Decision Day on May 1. To compile the list, realtor.com® compared average monthly rental costs to the average monthly home payment (mortgage, property taxes and insurance) in markets surrounding notable colleges and universities. Baltimore, home of Johns Hopkins University, ranked as the top market to buy versus rent with an average monthly homeownership cost of $775, in comparison to a $1,443 monthly rental cost. "College tuition in the U.S. has increased more than 60 percent over the last 10 years," said Javier Vivas, manager of economic research for realtor.com®. "Assuming you can afford the down payment, owning a home that your child can live in while at school can help cut the high costs of off campus living. It also makes a great future investment as a steady flow of students into the town continues to drive demand." Realtor.com®'s Top College Towns It takes an average of 21 percent of local median household income to purchase a home in these counties, compared to 28 percent for the U.S. overall. Yet, renting in these markets is more expensive, taking an average 27 percent of income compared to 25 percent for the U.S. These markets have strong local economies and healthy real estate fundamentals to support at least average home price appreciation. Of these markets, all but Baltimore and Champaign are seeing the median age of inventory decline, while Champaign and Swarthmore see median age of inventory longer than the U.S. These markets represent strong millennial buying trends as well, with an average market share of 41 percent for people under 35, compared to 38 percent to the U.S. overall. Only Champaign, West Lafayette, and College Park see under a 38 percent share for millennials. Methodology:Realtor.com defined college towns as counties with at least one four-year college and sizable student housing population. Areas were then ranked based on monthly money saved from owning instead of renting. Monthly mortgage rates were calculated based on the median listed homes on realtor.com (assuming a 20 percent down payment) and the median rent for the county. Facts About Realtor.com®'s Top College Towns 1. Johns Hopkins University - BaltimoreHome ownership cost: $775Rent payment: $1,443 Local housing market: The median price for a home in Baltimore County is $131,400, well below the national median of $260,000, and has an average of three bedrooms and two bathrooms. Charles Village, a small neighborhood located south east of campus, is popular for students. Another great area for investors is in and around the recently revitalized East Baltimore Development Inc. project. 2. University of Notre Dame – South BendHome ownership cost: $470Rental payment: $856 Local housing market: With a median home price of $89,900, the area surrounding University of Notre Dame offers the most affordable home prices on the list. When comparing the average ownership cost and rental payment, parent investors could potentially save $386 a month, which does not account for their student living with roommates. South Bend is a popular student neighborhood around Notre Dame where housing stretches the dollar and offers multiple bedrooms with affordable prices. 3. Purdue University – West LafayetteHome ownership cost: $666Rent payment: $970 Local housing market: Homes near Purdue University have an average price of $131,000 and offer an average of three bedrooms and two bathrooms. Parents looking to invest may want to consider the Chauncey Hill area, which is popular with students due to its close proximity to campus and overall walkability. 4. Michigan State University – East LansingHome ownership cost: $628Rent payment: $930 Local housing market: The median price for a home in Ingham County is $107,225 and has an average of three bedrooms and two bathrooms. Downtown East Lansing is popular among younger undergraduate students who want to be close to campus, as well as bars and restaurants. Parents of graduate students may want to consider the Groeseck neighborhood, which is better for those looking for a quieter, more relaxed environment. 5. University of Pennsylvania – PhiladelphiaHome ownership cost: $964Rent payment: $1,252 Local housing market: The average home surrounding University of Pennsylvania is $167,950, well below the national median, and offers three bedrooms and two bathrooms. With an average monthly rent of more than $1,200, parents looking to invest in real estate have the potential for significant income. Point Breeze and Passyunk are popular neighborhoods for undergraduate students because of their proximity to campus, as well as their general walkability. 6. University of Maryland – College ParkHome ownership cost: $1,699Rent payment: $1,971 Local housing market: University of Maryland has the highest average home price on the list, with a median of $300,447, as well as the highest average monthly rent of $1,971. While more costly, the average home has four bedrooms and three bathrooms, which gives parents more opportunities for rental income. Parent investors should consider buying in popular student areas of College Park Woods and Hollywood on the Hill. 7. Case Western Reserve University – ClevelandHome ownership cost: $677Rent payment: $866 Local housing market: Homes in Cuyahoga County have a median price of $120,574, well below the national average, and offer an average of three bedrooms and two bathrooms. Coventry, North Coventry, and Cedar-Fairmount are popular neighborhoods among students because of their easy access to shopping and grocery stores as well as nightlife. 8. Swarthmore College – SwarthmoreHome ownership cost: $1,128Rent payment: $1,252 Popular student neighborhoods: The median price home in Delaware County is $189,125 and offers three bedrooms and two bathrooms. Parents of students attending Swathmore College may want to consider an investment in the revitalized downtown that is attracting large groups of students or the nearby borough of Media, which offers larger homes with a little more peace and quiet. 9. Marquette University – MilwaukeeHome ownership cost: $856Rent payment: $954 Local housing market: Parents considering an investment around Marquette University will pay an average of $135,450 for three bedrooms and two bathrooms. Beerline, a small neighborhood that borders the north side of the Milwaukee River is home to many new developments ready for investors, while the Lower East Side neighborhood offers single-family homes, high-rise apartment complexes and everything in between. 10. University of Illinois – ChampaignHome ownership cost: $875Rent payment: $956 Local housing market: The median priced home in Champaign County is $149,075 with three bedrooms and two bathrooms. To the west of campus lies "Senior Land," which is highly popular with students as well as anything on Green Street between Neil Street and Lincoln Avenue. Downtown Champaign has been revitalized with a vibrant live music scene and a host of bars and restaurants to please just about anyone. 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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Affordability, Tight Supply Cause Vacation Home Sales to Plummet in 2016; Investment Sales Climb 4.5%
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89% of U.S. Investors Interested in Putting Their Money into Real Estate
10-04-2016 — Could real estate be the hottest trend in investing? While the concept itself isn't new, confidence and intrigue in this investment strategy are high according to recent findings from a national survey of U.S. investors by Better Homes and Gardens®Real Estate, which found 89 percent of U.S. investors surveyed are interested in incorporating real estate into their investment strategies. The results also revealed that 80 percent of U.S. investors surveyed believe a real estate portfolio is one of the best financial legacies they could leave for their family, so what could this mean for the real estate industry? Real Estate Investors of Today and Tomorrow Nearly all (96%) of U.S. investors surveyed who have invested in real estate believe their decision has helped them achieve some form of financial success: 52% greater overall financial stability 51% greater long-term net worth 45% greater monthly cash flow 94% percent of those who have invested in real estate are interested in making a future investment of this kind 84% who have invested in real estate indicated that they will make another real estate investment 2 in 5 planning to do so in less than a year 80% of investors surveyed who have never previously invested in real estate expressed an interest in making this financial commitment: 96% of Millennial investors are interested in making a real estate investment, showing greater interest than their Boomer counterparts (83%) Millennials are more drawn to personal real estate investments (79%) than commercial (49%) Family Motivations Behind Real Estate Investment Despite capturing the public's fascination through reality TV, only a small portion of respondents (29%) view property flipping as a beneficial real estate investment. Rather, research revealed that family is a driving motivation behind real estate investments. 79% of investor respondents feel it is important to invest in a property that they could use for themselves or a family member at some point. 83% of parents who invest would consider buying a property for or with their child or grandchild to: Co-manage and profit from together (40%) Manage and profit from it themselves (39%) Have their children or grandchildren live in the home during college (35%) Fund college tuition in the future (35%) Investing More than Money Unlike many other investments that can be made with the click of a button, real estate investments are often complex and require careful consideration. In fact, 89 percent of investors who have made a real estate investment in the last five years feel it is important for a real estate investment property to be geographically close, so that they could either manage or use it themselves. For non-investors, this commitment can be a deterrent. Eighty-nine percent of non-real estate investors surveyed who cited concerns about jumping in on an investment property, the top reason was that they don't know enough about investing in real estate (42%), followed by it requires too much time (41%), demands too much starting capital (35%) and that it is "risky" (28%). There is a clear need for real estate professionals and their insights – 30 percent would be more likely to invest if they had access to a real estate investment professional for advice, or resources to explain how to get started. This need translates into a set of expectations. Approximately 53 percent of respondents expect a real estate agent to advise on managing the investment, as well as provide guidance on terms (49%) and down payment advice (47%). "To see consumer confidence of this magnitude is very promising," said Sherry Chris, President and CEO, Better Homes and Gardens Real Estate. "Through this research, we've discovered that a majority of investors, including Millennials, Gen Xers and Baby Boomers, believe real estate is the best way to diversify an investment portfolio. What's fascinating is that even when it comes to real estate investments, for many, there are still emotional drivers that accompany this type of transaction. Consumers are starting to look forward and see real estate as a viable investment strategy, and as an industry, we need to help educate and guide these individuals on the right path to achieve this goal. "The aspiration to invest in real estate is there, yet it is up to real estate professionals to explain the fundamentals and help to serve as strategic sources throughout the process. Our hope is that this research empowers our industry to provide the resources and develop the necessary information to accelerate this opportunity for both current and future real estate investors." About the Survey The Better Homes and Gardens Real Estate Investors Survey was conducted by Wakefield Research, among 1,000 U.S. investors, between June 30 and July 12, 2016, using an email invitation and an online survey.Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interview and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. About Better Homes and Gardens Real Estate LLC Better Homes and Gardens Real Estate LLC is a dynamic real estate brand that offers a full range of services to brokers, sales associates and home buyers and sellers. Using innovative technology, sophisticated business systems and the broad appeal of a lifestyle brand, Better Homes and Gardens Real Estate LLC embodies the future of the real estate industry while remaining grounded in the tradition of home. Better Homes and Gardens Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. The growing Better Homes and Gardens® Real Estate network includes more than 10,000 affiliated sales associates and approximately 300 offices serving home buyers and sellers across the United States, Canada and the Bahamas. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC and used with permission. An Equal Opportunity Company. Equal Housing Opportunity. Each Better Homes and Gardens® Real Estate Franchise is independently owned and operated. For more information, visit www.BHGRealEstate.com.
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Investors shift to niche properties; fewer paying all cash, C.A.R. survey finds
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Vacation Home Sales Retreat, Investment Sales Leap in 2015
  WASHINGTON (April 6, 2016) — Vacation home sales cooled off in 2015 but remained at the second highest amount in nearly a decade, while investment purchases increased for the first time in five years, according to an annual survey of residential homebuyers released today by the National Association of Realtors®. Mirroring the strong price growth seen throughout the U.S., the median sales price of both vacation and investment homes surged in 2015. NAR's 2016 Investment and Vacation Home Buyers Survey,covering existing- and new-home transactions in 2015, found that vacation-home sales last year declined to an estimated 920,000, down 18.5 percent from their most recent peak level of 1.13 million in 2014. Investment-home sales in 2015 jumped 7.0 percent to an estimated 1.09 million from 1.02 million in 2014. Owner-occupied purchases jumped 15.9 percent to 3.74 million last year from 3.23 million in 2014 — the highest level since 2007 (3.93 million). Sales estimates are based on a national online survey including responses from over 2,000 U.S. adults who purchased a residential property in 2015, and exclude institutional investment activity. Lawrence Yun, NAR chief economist, says vacation sales took a sizeable step back in 2015, but still came in at the second highest amount since 2006 (1.07 million). "Baby boomers at or near retirement continue to propel the demand for second homes, although headwinds softened the overall volume of vacation sales last year," he said. "The expanding pool of buyers amidst a dwindling number of bargain-priced properties led to tighter supply and fewer sales and caused the price of vacation homes to rise. Furthermore, the turbulence that hit the financial markets the second half of the year likely seized some would-be buyers' available cash." The median sales price of both vacation and investment homes soared in 2015. The median vacation home price was $192,000, up 28.0 percent from $150,000 in 2014. The median investment-home sales price was $143,500, up 15.3 percent from $124,500 a year ago. According to Yun, many of the metro areas with the strongest price appreciation in 2015 were in the South — the most popular destination for vacation buyers - and particularly in several Florida markets. While increased buyer demand contributed to the run-up in prices, it also likely squeezed less affluent households looking to purchase vacation properties. Vacation-home sales accounted for 16 percent of all transactions in 2015 — down from 2014 (21 percent), but still the second highest share since the survey was first conducted in 2003. The portion of investment sales remained unchanged from a year ago at 19 percent, and owner-occupied purchases increased to 65 percent (60 percent in 2014). "Despite a smaller share of distressed properties coming onto the market, investment purchases reversed course in 2015 after declining for four straight years," says Yun. "Steadily increasing home prices and strong rental demand appear to be giving more individual investors assurance that purchasing real estate will diversify their portfolios and generate additional income if they decide to rent out the home." This year's survey found that in addition to longer-term rentals, investors are most likely to attempt to and rent their properties for less than 30 days. Among investors, 42 percent did or tried to rent their property in 2015 and plan to rent their property in 2016. Twenty-four percent of vacation buyers did or tried to rent their property in 2015 and plan to rent their property this year. Vacation buyers are more likely to use a property manager or social media to rent their property, while investors are more likely to use a traditional real estate agency. The share of vacation buyers who paid in cash jumped to 38 percent from 30 percent in 2014, while cash purchases by investors decreased to 39 percent from 41 percent a year ago. Of buyers who financed their purchase with a mortgage, over half (52 percent) of vacation buyers and 44 percent of investors financed less than 70 percent of the purchase price. The overall trend of fewer distressed properties (short sale or foreclosure) on the market resulted in vacation buyers and investors purchasing less of them in 2015. Thirty-six percent of vacation buyers (45 percent in 2014) and 39 percent of investors (44 percent in 2014) purchased a distressed property a year ago. Characteristics of Vacation-Home Purchases Vacation-home buyers in 2015 had a higher median household income ($103,700) than those in 2014 ($94,380) and purchased a property that was a median distance of 200 miles away from their primary residence (unchanged from a year ago). Buyers plan to own their property for a median of 7 years, an increase from 6 years in 2014. With more vacation buyers purchasing single-family homes (58 percent) compared to a year ago (54 percent), the share of those buying a condo (25 percent) or a townhouse or row house (13 percent) decreased in this year's survey. Forty-percent of vacation buyers purchased in a beach area, 19 percent purchased in the mountains or at a lakefront and 16 percent purchased a vacation home in the country. Nearly half of all vacation homes bought last year were in the South (47 percent; 41 percent in 2014), 25 percent were in the West (unchanged from a year ago), 15 percent in the Northeast (unchanged from a year ago) and 13 percent in the Midwest (14 percent in 2014). Over one-third of vacation buyers plan to use their property for vacations or as a family retreat (37 percent), 16 percent bought for future retirement plans and only 7 percent purchased to generate income through renting the property, a decrease from 11 percent in 2014. Characteristics of Investment-Home Purchases The typical investment-home buyer in 2015 had a median household income of $95,800 ($87,680 in 2014) and bought a detached single-family home (62 percent) that was a median distance of 22 miles from their primary residence (24 miles in 2014). Investment buyers last year purchased property for a variety of reasons, with an increasing share from 2014 citing rental income as the primary reason (42 percent; 37 percent in 2014), followed by low prices and the buyer found a good deal (16 percent), and for potential price appreciation (14 percent). Likely reflecting growing demand towards renting in the city, investment purchases in urban areas increased to 29 percent (26 percent in 2014). Purchased properties from investment buyers were more likely to be in the South (37 percent) and in a suburban area (41 percent). Perhaps encouraged by rising housing demand and home prices, over 80 percent of both vacation buyers and investment buyers believe that now is a good time to purchase real estate. NAR's 2016 Investment and Vacation Home Buyers Survey, conducted in March 2016, surveyed a sample of households that had purchased any type of residential real estate during 2015. The survey sample was drawn from a representative panel of U.S. adults monitored and maintained by an established survey research firm. A total of 2,053 qualified adults responded to the survey. Respondents were sampled to meet age and income quotas representative of all home buyers drawn from the NAR 2015 Profile of Home Buyers and Sellers. The 2016 Investment and Vacation Home Buyers Survey can be ordered by calling 800-874-6500, or online. 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 1.1 million members involved in all aspects of the residential and commercial real estate industries.
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Interactive Investment Analysis Made Easy with Valuate from RPR
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Home Flipping Increases in 75 Percent of U.S. Markets in 2015
IRVINE, CA (March 03, 2016) — RealtyTrac®, the nation's leading source for comprehensive housing data, today released its Year-End and Q4 2015 U.S. Home Flipping Report, which shows that 179,778 U.S. single family homes and condos were flipped in 2015, 5.5 percent of all single family home and condo sales during the year. The 5.5 percent share of U.S. home flips in 2015 was up from a 5.3 percent share in 2014, marking the first annual increase in the share of homes flipped following four consecutive years of decreases. The share of homes flipped in 2015 increased from the previous year in 83 of 110 U.S. metropolitan statistical areas nationwide analyzed for the report (75 percent). For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period based on publicly recorded sales deed data collected by RealtyTrac in more than 950 counties accounting for more than 80 percent of the U.S. population (see full methodology below). "As confidence in the housing recovery spreads, more real estate investors and would-be real estate investors are hopping on the home flipping bandwagon," said Daren Blomquist, senior vice president at RealtyTrac. "Not only is the share of home flips on the rise again, but we also see the flipping trend trickling down to smaller investors who are completing fewer flips per year. The total number of investors who completed at least one flip in 2015 was at the highest level since 2007, and the number of flips per investor was at the lowest level since 2008." There were 110,008 investors or entities that completed at least one home flip in 2015, the highest number of home flippers since 2007, when there were 130,603 home flippers. The peak in the number of active home flippers was in 2005, with 259,192. There were 1.63 home flips per investor in 2015, the lowest ratio of flips per investor since 2008. "More inexperienced home flippers with a smaller financial cushion could be a sign of an over-speculative market, but the data indicates that flippers in 2015 continued to operate within relatively conservative margins," Blomquist continued. "Homes flipped in 2015 were on average purchased at a 26 percent discount below estimated market value and re-sold by the flipper at a 5 percent premium above estimated market value." Share of homes flipped in 2015 above 2005 levels in 11 percent of markets The 5.5 percent share of U.S. homes flipped in 2015 was still well below the peak of 8.2 percent of U.S. homes flipped in 2005. Counter to the national trend, the share of homes flipped in 2015 was above 2005 levels in 12 of the 110 metro areas (11 percent) analyzed in the report, including Pittsburgh (19 percent above 2005 levels); Memphis (18 percent above 2005 levels); Buffalo, New York (12 percent above 2005 levels); San Diego (4 percent above 2005 levels); Seattle (4 percent above 2005 levels); Birmingham, Alabama (4 percent above 2005 levels); and Cleveland (3 percent above 2005 levels). "When home flipping numbers go up, it is usually an indication that the housing market is in trouble," said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market, where the share of homes flipped in 2015 was down from 2014 despite being above 2005 levels. "The problem with a rise in home flipping is that these sales artificially inflate home prices, making housing even less affordable for buyers and increasing the risk of a bubble. I'm happy to see that the percentage of home flipping sales in Seattle does not exceed the national average and that they're down from a year ago. This makes sense given our affordability constraints and lower potential for profits for home flippers." Metro areas with the biggest year-over-year increase in share of flips were Lakeland, Florida (up 50 percent); New Haven, Connecticut (up 45 percent); Jacksonville, Florida (up 41 percent); Homosassa Springs, Florida (up 40 percent); and Akron, Ohio (up 37 percent). "We continue to see distressed properties funnel through the pipeline in South Florida, which makes it ripe for investors to profit in a strong selling market," said Mike Pappas, CEO and president at the Keyes Company, covering the South Florida market. "There are always sellers that will discount for a quick cash sale and open the door for astute investors to make a good return by repositioning the property." The Miami metro area had the most homes flipped of any market nationwide in 2015, with 10,658, representing 8.6 percent of all Miami-area home sales for the year and up 4 percent as a share of all sales from 2014. Average gross flipping profit at a 10-year high in 2015 Homes flipped in 2015 yielded an average gross profit of $55,000 nationwide, the highest average gross profit for homes flipped nationwide since 2005, when the average gross profit on flipped homes was $58,750. The average gross flipping profit is the difference between the purchase price and the flipped price (not including rehab costs and other expenses incurred, which flipping experts estimate typically run between 20 percent and 33 percent of the property's after repair value). The average gross flipping profit of $55,000 in 2015 represented an average gross return on investment (ROI) of 45.8 percent, up from 44.2 percent in 2014 and up from a 35.3 percent in 2005. The annual peak in average gross flipping ROI was 2013 at 46.0 percent. The average gross ROI is the gross profit expressed as a percentage of the original purchase price. Markets with highest average gross flipping profits, ROI and increase in ROI Among 110 metro areas with at least 250 flips in 2015, those with the highest average gross flipping profit in dollars in 2015 were San Francisco ($145,000); San Jose, California ($145,000); New York ($120,000); Los Angeles ($115,000); and Oxnard-Thousand Oaks-Ventura, California (110,000). Markets with the highest average gross ROI on homes flipped in 2015 were Pittsburgh (129.5 percent); New Orleans (99.2 percent); Philadelphia (98.4 percent); Cincinnati (89.7 percent); and New Haven, Connecticut (89.6 percent). Markets with the biggest increase in average flipping gross ROI in 2015 compared to 2014 were Boise, Idaho (85 percent increase); Hartford, Connecticut (51 percent increase); Ocala, Florida (49 percent increase); Homosassa Springs, Florida (41 percent increase); and Huntsville, Alabama (39 percent increase). Highest share of home flips in Nevada, Florida, Alabama, Arizona and Tennessee States with the highest share of flips in 2015 were Nevada (8.8 percent); Florida (8.0 percent); Alabama (7.4 percent); Arizona (7.1 percent); and Tennessee (6.9 percent). Among states with at least 1,000 single family homes flipped in 2015, those with the biggest year-over-year increase in share of flips were Connecticut (up 23 percent); Oregon (up 21 percent); Maryland (up 19 percent); Illinois (up 18 percent); and New Jersey (up 17 percent). Among 110 metro areas with at least 250 flips in 2015, those with the highest share of flipping as a percentage of all single family home sales were Memphis (11.1 percent); Fresno, California (9.2 percent); Las Vegas (9.2 percent); Tampa (9.2 percent); and Deltona-Daytona Beach-Ormond Beach, Florida (9.1 percent). Report methodology RealtyTrac analyzed sales deed data and automated valuation data for this report. A single family home or condo flip was any transaction that occurred in the second quarter where a previous sale on the same property had occurred within the last 12 months. Average gross profit was calculated by subtracting the average price for the first sale (purchase) from the average price of the second sale (flip). Average gross return on investment was calculated by dividing the average gross profit by the first sale (purchase) price. About RealtyTrac RealtyTrac is a leading provider of comprehensive U.S. housing and property data, including nationwide parcel-level records for more than 130 million U.S. properties. Detailed data attributes include property characteristics, tax assessor data, sales and mortgage deed records, distressed data, including default, foreclosure and auctions status, and Automated Valuation Models (AVMs). Sourced from RealtyTrac subsidiary Homefacts.com, the company's proprietary national neighborhood-level database includes more than 50 key local and neighborhood level dynamics for residential properties, providing unrivaled pre-diligence capabilities and a parcel risk database for portfolio analysis. RealtyTrac's data is widely viewed as the industry standard and, as such, is relied upon by real estate professionals and service providers, marketers and financial institutions, as well as the Federal Reserve, U.S. Treasury Department, HUD, state housing and banking departments, investment funds and tens of millions of consumers.
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NAR's Second Century Ventures Taps Top Technology Executive Alex Lange to Grow Strategic Investments, Accelerator
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Dell and Intel Capital Invest in The DocuSign Global Trust Network
SAN FRANCISCO and RANCHO PALOS VERDES, Calif., May 27, 2015 -- RE/CODE CODE CONFERENCE -- DocuSign, Inc. announced that Dell and Intel Capital have made strategic investments in DocuSign, bringing the company's Series F round of funding to more than $278 million. DocuSign helps more than 100,000 customers and more than 50 million users in 188 countries go fully digital for dramatic ROI, increased security and compliance, and better customer experiences. The funding will fuel accelerated worldwide expansion of The DocuSign Global Trust Network. "We're excited at the opportunity to help DocuSign achieve its massive potential as it transforms Digital Transaction Management worldwide," said Michael Dell, Chairman and CEO, Dell. "Intel and DocuSign share a hyper-focus on creating trusted platforms to power our customers' success," said Rick Echevarria, Vice President, Intel Security Group and General Manager of Intel Security Platforms Group. "We've seen the value of the DocuSign platform, and we look forward to integrating our offerings to help our customers worldwide securely transact anything, anytime, anywhere, on Intel-powered devices." "Through our strategic partnership, Microsoft and DocuSign are helping customers be more productive in a cloud-first, mobile-first world," said John Case, Corporate Vice President, Microsoft. "We're looking forward to accelerated growth as we deepen our built-to-last collaboration with DocuSign." "We're pleased to have the biggest technology brands invest in DocuSign as part of The DocuSign Global Trust Network," said Keith Krach, Chairman & CEO, DocuSign. "These strategic engagements will help bring the power and value of DocuSign's DTM platform to more countries, companies and customers around the world." DocuSign has now raised more than $500 million to date from financial institutions and strategic investors including Dell, Intel Capital, Google Ventures, Sapphire Ventures, VISA, Salesforce Ventures, Samsung Venture Investment Corporation, Telstra, Comcast Ventures, BBVA*, EDBI (the corporate investment arm of the Singapore Economic Development Board), Mitsui & CO (USA) Inc., NTT Finance, Recruit Holdings, and the National Association of REALTORS®. For more information about The DocuSign Global Trust Network, please visit http://www.docusign.com. About Intel Capital Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11.4 billion in over 1,400 companies in 57 countries. In that timeframe, 211 portfolio companies have gone public on various exchanges around the world, and 369 were acquired or participated in a merger. In 2014, Intel Capital invested $359 million in 125 investments, including 59 new deals. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com. About Dell Dell Inc. listens to customers and delivers innovative technology and services that give them the power to do more. For more information, visit www.dell.com. About DocuSign, Inc. DocuSign® is The Global Standard for Digital Transaction Management®. DocuSign helps more than 100,000 companies across nearly every industry and department make their digital transformation by putting an end to the paper chase. More than 50 million people in 188 countries turn to DocuSign to manage their most important transactions—digitally. DocuSign's DTM platform supports legally compliant signature processes tailored to meet requirements globally with localization in 43 languages. Every day more than 50,000 new users join The DocuSign Global Trust Network to increase speed to results, reduce costs, enhance security and compliance, and delight clients with a secure digital experience. For more information, visit www.docusign.com or call 877.720.2040.
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New Survey Shows Local Real Estate Markets Heat Up With Investors
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Negative Equity and Home Values Decline
Despite some areas experiencing flattening or reversal of home value declines last year, one in five markets now showing signs of a possible double dip in homevValues, according to Q4 2009 Zillow® Real Estate Market Reports. Key facts: Negative equity remains high at 21 percent of all single family homes with mortgages, but was flat quarter-over-quarter. U.S. home values fell 5 percent year-over-year, and declined 0.5 percent quarter-over-quarter, marking the 12th consecutive quarter of year-over-year declines. In one in five, or 29 of the 143 markets tracked by Zillow, home values have flattened or have begun to decrease again after showing at least five consecutive monthly increases during 2009—early signs of a what could become a “double dip.” SEATTLE—Feb. 10, 2010—Home values across the country declined again in the fourth quarter of 2009, as the Zillow Home Value Index[i] fell 5 percent year-over-year, and 0.5 percent quarter-over-quarter, to $186,200. That marked the 12th consecutive quarter of year-over-year declines, according to the fourth quarter Zillow Real Estate Market Reports[ii]. Despite home value declines seen across most of the country throughout 2009, some markets experienced what appeared to be a bottom in home value declines, or even increases in home values during the year. However, the fourth quarter of the year brought signs that the fledgling recovery of home values in many of these markets is slowing again. If the declines are sustained, the result will be a “double dip[iii]” in home values, defined as two periods of sustained declines in home values separated by a brief period of stabilization or recovery. One in five, or 29 of the 143 markets tracked by Zillow, showed at least five consecutive month-over-month increases in home values during 2009 before beginning to flatten or fall again in the second part of the year. These markets include the Boston metropolitan statistical area (MSA), the Atlanta MSA and the San Diego MSA. Home values in an additional 29 markets, including the Los Angeles and New York MSAs, increased on a month-over-month basis each month throughout the fourth quarter. However, the rate of increase slowed from November to December in 21 of those markets, and several appear likely to experience several months of sustained decline in early 2010. The percent of single family homes with mortgages in negative equity was essentially flat from the third to the fourth quarter, changing from 21 percent in Q3 to 21.4 percent in Q4. This comes after a decrease in negative equity from the second quarter’s 23 percent. The number of homeowners losing their homes to foreclosure[iv] across the country reached a peak in December, with more than one in every thousand homes being foreclosed—a number not reached since Zillow began recording national foreclosure data in 2000. “While we have seen strong stabilization in home values during 2009, there are clear signs that they will turn more negative in the near-term,” said Zillow Chief Economist Stan Humphries. “What we saw in mid-2009 was a brief respite from a larger market correction that has not yet run its course. The good news is that, for those markets that will see a double dip in home values before reaching a definitive bottom, this second dip will not be a return to the magnitude of depreciation seen earlier, but rather will look more like a modest aftershock of the earlier downturn. “The recent stabilization owed a lot to policy support in the form of tax credits, lower interest rates and increased Federal Housing Administration lending. The remaining correction in home values we’ll see in the first half of this year is a function of market fundamentals, such as the increasing flow of foreclosures, high levels of inventory in the market and a probable decrease in demand as the impact of the tax credit wanes and mortgage rates rise. While the next few months are likely to bring further home value declines in most markets, we do expect to see a national bottom in home prices by the middle of this year. Thereafter, home values are likely to bounce along the bottom with real appreciation remaining negligible for some time.” Foreclosure resales[v] across the country remained high, making up more than one-fifth (20.3 percent) of all U.S. home sales in December. Foreclosure resales also made up the majority of sales in several MSAs, including the Merced, CA MSA (68.3 percent), the Las Vegas MSA (64 percent) and the Modesto, CA MSA (62 percent). Additionally, 28.5 percent of home sales nationwide sold for less than what the seller originally paid. Several markets across the country showed positive longer-term appreciation. Home values increased year-over-year in 27 of 143 markets and remained flat in 15. The Boston MSA was the largest area with year-over-year appreciation, despite its more recent downturn in home values. The area’s Zillow Home Value Index rose 1.9 percent in 2009. Home values in the Boston area rose for eight months in 2009, which outweighed the recent declines. To view the original press release from Zillow News, please click here.  
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Tech and Real Estate May Lead the Way
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