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Inside Real Estate Doubles Down on Innovation with New Investment
Investment Will Support New, Cutting-Edge Innovations and Expanded Offerings to Meet the Needs of Real Estate Professionals DRAPER, UTAH, August 5th, 2020 -- Inside Real Estate, one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 top agents, teams and brokerages, is doubling down on innovation and growth. The company announced today a major new Innovation Investment focused on accelerating the use of technology to dramatically enhance the experience of real estate professionals and consumers across the entire home transaction lifecycle. The program was financed through additional investment in the Company by management and its financial partner, Lovell Minnick Partners. In the last seven years, Inside Real Estate has invested over $200 million to create the industry's first, purpose-built platform that meets the unique needs of brokers, teams and agents—all in one tech ecosystem. The new innovation program is a natural continuation of this effort and will be dedicated to making targeted technology advancements to both front and back office platforms, as well as expanding marketplace offerings and consumer-facing applications by leveraging and integrating technologies including machine learning and artificial intelligence (AI). "The rapidly evolving nature of the real estate industry coupled with the challenges of the current landscape demand that we expand our efforts to empower our customers with the best tools and technology to deliver even better consumer experiences, greater productivity and solutions that are easier to use," said Ned Stringham, CEO of Inside Real Estate. "Inside Real Estate started as an innovator and will continue to build upon that reputation as we expand to serve our growing network of agents, teams and brokerages." As part of doubling research and development initiatives and investing in and expanding technology offerings, Inside Real Estate will add to both its product and customer success departments, adding leadership and team roles that will provide additional resources and expertise to partners. "We're looking forward to growing the Inside Real Estate team and continuing to collaborate with industry professionals that share our creative vision for the future of real estate," continued Stringham. "The feedback from and needs of our customers is our top priority and key driver as we expand our team and offerings during this inflection point for our robust and ever-changing industry."
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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
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Cushman & Wakefield Announces Closing of Its Initial Public Offering of Ordinary Shares
CHICAGO, IL, August 6, 2018--Cushman & Wakefield plc ("Cushman & Wakefield") today announced the closing of its initial public offering of 45,000,000 of its ordinary shares, at a price to the public of $17.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 6,750,000 ordinary shares from Cushman & Wakefield. As a result, the total initial public offering size was 51,750,000 shares. The shares are listed on the New York Stock Exchange and trade under the symbol "CWK." Cushman & Wakefield also announced the initial closing of a primary private placement investment by Vanke Service (HongKong) Co., Limited in an aggregate number of ordinary shares that will represent ownership of 4.9% of outstanding ordinary shares after giving effect to the initial public offering and the full exercise of the underwriters' option to purchase additional ordinary shares. Cushman & Wakefield expects to use the net proceeds from the ordinary shares offered by it to reduce outstanding indebtedness, in particular to repay its second lien loan, to pay the outstanding amount of the deferred payment obligation related to its acquisition of Cassidy Turley and any remaining net proceeds for general corporate purposes. Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC and UBS Investment Bank served as joint book-running managers and representatives of the underwriters for the offering. Barclays Capital Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and William Blair & Company, L.L.C. also served as joint book-running managers for the offering. TPG Capital BD, LLC, HSBC Securities (USA) Inc., Credit Agricole Securities (USA) Inc., JMP Securities LLC, China Renaissance Securities (US) Inc., Fifth Third Securities, Inc., Academy Securities, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc., Siebert Cisneros Shank & Co., L.L.C. and The Williams Capital Group, L.P. served as co-managers for the offering. The offering was made only by means of the written prospectus forming part of the effective registration statement. Copies of the final prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email: [email protected], Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526 or email: [email protected] and UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: 888-827-7275 or email: [email protected] A registration statement relating to these securities was declared effective as of August 1, 2018 by the Securities and Exchange Commission. This news 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, sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state or jurisdiction. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.
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Cascade Sotheby's International Realty Launches Asia Desk to Serve Growing Demand for Pacific NW Investment Property
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Foreign Investment in U.S. Commercial Real Estate Remains Strong, China and Mexico Top Investors
WASHINGTON (June 28, 2018) — Nearly one-fifth of Realtors® practicing in commercial real estate closed a sale with an international client in 2017, and 35 percent said they have experienced an increase in the number of international clients in the past five years, according to a report from the National Association of Realtors®. NAR's 2018 Commercial Real Estate International Business Trends report analyzed cross-border commercial real estate transactions made by Realtors® during 2017. The study found that most Realtors® who specialize in commercial real estate reside in smaller commercial markets where the typical deal is less than $2.5 million. "The profile of smaller commercial markets is continuing to rise as many foreign investors are attracted to smaller-sized properties in secondary and tertiary markets, bringing Realtors® confidence that increased sales and leasing activity will continue to occur in 2018," said Lawrence Yun, NAR chief economist. "Since 2016, world economies have regained their footing and have pressed toward higher ground. Global economic output increased in 2017, and commercial real estate continues to be a healthy investment for global investors," Yun added. Of the 59 percent of Realtors® who indicated they completed a commercial real estate transaction last year (69 percent in 2016), 18 percent reported closing a deal for an international client (20 percent in 2016). Among survey respondents who closed an international transaction, 46 percent closed a buyer-side transaction, 13 percent a seller-side transaction and the remainder closed both types of transactions. Over 60 percent of buyer-side sales were transactions with foreign buyers who primarily reside abroad. Most seller-side transactions (57 percent) were of properties sold by clients who were temporarily residing in the U.S. on non-immigrant visas. Nineteen percent of Realtors® said they completed a lease agreement on behalf of a foreign client, down from 22 percent in 2016. The median gross lease value for international lease transactions was $200,000 ($105,000 in 2016) with most space typically under 2,500 square feet. The top countries of origin for buyers were China (20 percent), Mexico (11 percent), Canada (8 percent) and the United Kingdom (6 percent). While sellers were typically from Mexico (20 percent), China (15 percent), and Brazil and Israel (both at 10 percent). Florida and Texas were the top two states where foreigners purchased and sold commercial property last year, with California being the third most popular buyer and seller destination. International commercial buyer and seller transactions typically tend to be at the higher end of the market. Last year, the median international buyer-side transaction was $975,000 and a median seller-side transaction was $1 million, while the median commercial transaction was $625,000. "Realtors®' international clients found U.S. commercial real estate markets to be a good value in 2017. About seven in 10 respondents reported that international clients view U.S. prices to be about the same or less expensive than prices in their home country," Yun stated. The survey also found that foreign buyers of commercial property typically bring more cash to the table than those purchasing residential real estate. Seventy percent of international transactions were closed with cash, while NAR's 2017 residential survey found that half of buyers paid in cash. For those not using all cash, 25 percent of commercial deals involved debt financing from U.S. sources. A majority of buyers purchased commercial space for rental property (39 percent) or for business investment purposes (34 percent). NAR's commercial community includes commercial members, real estate boards, committees, advisory boards and forums; and NAR commercial affiliate organizations – CCIM Institute, Institute of Real Estate Management, Realtors® Land Institute, Society of Industrial and Office Realtors®, and Counselors of Real Estate. Approximately 80,000 NAR members specialize in commercial real estate brokerage and related services including property management, land counseling and appraisal. In addition, more than 200,000 members are involved in commercial transactions as a secondary business. 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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eXp World Holdings Is Trading on Nasdaq
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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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Negative Equity and Home Values Decline
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Tech and Real Estate May Lead the Way
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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