#custom house builder north york & toronto

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custom house builder north york & toronto

Kantium Development & Construction Your Luxury Custom Home Builder in Toronto & GTA Craft interiors Significant experience in designing & building houses Kantium Development & Construction offers its clients the professional experience acquired, offering a great team of professionals trained to build Luxury Custom Home.

[cedarhillscontracting]

Custom Home Builder in Markham- Build Custom Home That Fits Within Your Budget

Renovating your home can be a great way to improve your quality of life. If you're Home Renovation in Markham, a custom home builder can help you make the most of your space. Here are a few tips to get you started. When renovating your home, it’s important to have a plan and a budget in place. Renovating a home can be a daunting task, but it’s important to have a plan and a budget in place before you start. Work out what you want to achieve with the renovation, and how much you’re willing to spend. This will help you to stay on track and avoid any costly surprises.

At Cedar Hill Contracting, we work with a professional Custom Home Builder in Markham who works with you every step of the way, ensuring that your vision for your dream home comes to life. We understand how important it is for you to have a home that is exactly what you want it to be, and we are dedicated to making sure that your homebuilding experience is positive from start to finish. That's why we're here: so you can get exactly what you need when it matters most, and leave us feeling confident that your new home will be everything you want it to be.  

Our custom home builders are an excellent way to get the house of your dreams. If you're looking for a way to add value to your home, or just want something different than what's out there, custom builders can be a great option. There are many benefits of using our custom builders. You can choose from a wide range of options based on what you want and need in your home. You don't have to settle for a cookie-cutter option that might not be quite right for you. Custom builders offer more personalized service than other types of builders do--they'll take the time to really listen to what you want and show you how they can help make that happen! No matter whether you need a home addition, bathroom renovation, and Home Renovation in Scarborough, you can rely on our services.

We've helped families through their home-building journey in Toronto, North York, Etobicoke, Scarborough, Vaughan, Richmond Hill, Markham, Aurora, Stouffville, Mississauga, Bolton, and Caledon, with fine custom homes in the most exclusive areas. We know how important it is to build a custom home that is exactly what you want it to be—and we believe in making sure that happens from start to finish. That's why we're here: so you can get exactly what you need when it matters most, and leave us feeling confident that your new home will be everything you imagined. Contact us today at 647-869-0673 to learn more! 

[rostica]

Rostica Construction Stucco Company Toronto

Rostica Construction is a locally owned stucco & home renovation contractor serving the Great Toronto area and its surrounding which includes the counties of Etobicoke, York, North York, West End, Downtown, Midtown, East York, East End and Scarborough. We are proud to call ourselves veritable stucco experts in Toronto. Our In-house stucco professionals are all specialized in acrylic stucco. Our team expresses high quality workmanship and a results-oriented approach that has earned us a well-earned reputation as one of the Toronto Ontario's premier stucco and plastering contractors! We provide estimates with consideration and can also offer ideas, suggestions and provide examples of alternate products to assist you in finding the most appropriate finish for your project.

Stucco Services

Stucco service is used for more than just exterior wall construction. When you call Stucco Specialists, you’re getting access to a complete range of stucco installation  and stucco repair services that include Chimney repair, outside BBQ area with stucco, outside kitchen with stucco, pool deck border stucco repair service, water damage repairs and more.

We offer complete commercial and residential stucco services. Our local stucco company offers great service with the experience you are looking for from an exterior stucco contractor. We are experienced stucco contractors that provide everything from small stucco repairs, new construction, patches, repairs or complete stucco replacement to full commercial stucco and residential stucco services including Plastering, Fireproofing, EIFs, and Lath.

Stucco installation can last years if it’s professionally maintained. Regular stucco maintenance helps prevent significant damage and costly repairs down the road. When it comes to Stucco repair in Concord, Stucco repair in Etobicoke, Stucco repair in York, Stucco repair in North York, Stucco repair in West End, Stucco repair in Downtown, Stucco repair in Midtown, Stucco repair in Uptown, Stucco repair in East York, Stucco repair in East End and Stucco repair in Scarborough, Rostica Stucco Construction Service is your top choice. We visit your home or building and give you a detailed line-itemed estimate that fully explains your issues.

Stucco Services Expertise

Isolated cracking and staining are an indication that there is a problem. The simple act of covering the cracks with new stucco finish or paint will not fix the problem. These stucco patches are only a temporary cosmetic solution that covers up the problem and the extra stucco coating actually keeps the wall from drying out and accelerates the dry rotting of the wood framing and plywood sheathing. Random cracking is a cosmetic problem, which can be fixed only by using the proper techniques to control the movement, painting or refinishing the stucco without reinforcing the cracks will allow the cracks to telegraph through the paint or new stucco finish.

Rostica Construction Service has handled many stucco and other services over the past 5 years. We know how hard it is to find a reputable stucco service contractor to come out and handle the small repairs as well as large ones. Our goal is to work closely with our clients in order to meet their home decorating and design needs with an attention to detail that will transform their property in line with expectations.

Stucco Contractors in Toronto

When people think of plaster service or stucco service, they think of a hard-shell exterior paint that provides insulation for their home or business but did you know that stucco has many different uses? Additional Professional Stucco installation can be used for New Home Construction, New Commercial Building Project, Residential

Chimney Construction, Pool Decking Surfaces, Borders Outdoor Cooking Areas and Exterior BBQ Kitchens

Residential Property Services & Coverage

The exterior of your home is largely responsible for the first impression that a guest sees when they visit your property. By enlisting the local stucco & plastering expertise at Rostica, you can ensure that your property's stucco will be professionally installed. The first step towards making your home the "talk of the block" is getting the current exterior acrylic stucco finish a retexture stucco look.

Commercial Stucco Service

The look of your commercial property is very important. If the stucco on your commercial property is cracked or missing pieces, people might hesitate before choosing to do business with your company. Crumbling stucco walls on the outside of the building is never a good impression for a business. We helped many commercial buildings by fixing their commercial stucco issues, Business owners and commercial builders in the local area love our work! They trust us with all of their stucco, plaster, EIFs and Fireproofing service needs.

Stucco can be used in the residential and commercial market. We offer new construction stucco installation and stucco repair work. Traditionally people think of stucco as an exterior finish only. However, you can add texture and visual interest to other areas of your home or building including fireplaces, pool rooms, accent walls and more. With the variations of stucco finishes that are available today, the design possibilities are endless.

This durable finish will give your home a fresh style while simplifying the maintenance needs. You can rely on Rostica for quality finishes and durable results. We have convenient appointments available to assess your home and discuss your needs. We are an experienced team ready to handle projects of all sizes. We take pride in our work; we finish projects on time and within budget.

Stucco Problems

We will thoroughly examine your commercial stucco or residential stucco problem to determine exactly what is going on with your property. As the best local stucco contractor, plaster contractor and EIFs service contractor in Toronto Canada, we will diagnose your  situation. Once we have determined exactly what the issue is we will devise a plan of action for stucco repair.

The Benefits of Stucco

Stucco is an energy efficient & versatile facing material that can be applied to almost any surface. Whether your needs are for commercial or residential use, stucco colors and finishes can be combined and manipulated to match or accent an existing structure. Stucco is a durable product, impact-resistant, fire-resistant, breathable and moisture resistant, it’s able to be used in all climates.

Stucco gives limitless potential to any project; some examples are window box styles and decorative pillar shaping; your project truly becomes one of a kind. In addition to the many finish textures and color options, stucco can be used to achieve any creative vision.

Stucco & concrete wall repair

Proper waterproofing and repair of your concrete and stucco walls is critical for the integrity and long life of your building. Both original improper construction or building movement can create cracks that can allow water to penetrate a building wall. Rostica is a contractor who provides comprehensive stucco and concrete wall waterproofing and repair. We install rubber sealant at all movement joints and a complete elastomeric wall waterproofing system to create a complete waterproof seal.

Stucco Texture

There are many different types of stucco texture, if a stucco contractor isn't experienced, your home could come out looking completely different than the other homes in the neighborhood. We are an experienced stucco company that can match the stucco style and texture that you want.

You may have seen a commonly used textured finish on vacation homes, this texture is a great choice for these homes as it can be applied faster than how it is usually applied when a smoother texture is desired. This type of texture is easy to maintain and easy to repair that's why it's the first choice on these types of commercial stucco and Regular residential properties and high-end stucco construction usually opt for smooth finish stucco. Smooth texture stucco is not easy to do and should be left to experienced stucco companies like Rostica Construction.

Stucco Installation

We provide an impressive stucco installation. Our stucco contractor has mastered the different techniques, from mixing to applying, for a smooth and clean finish. Our pros also consider the type of surface that we need to coat. Hence, if you work with us, we’ll deal with minimal errors for your convenience and satisfaction. Also, since we are budget friendly, our stucco service won’t hurt your pocket!

What We Do

Having a proper installation of EIFs, Installation of plaster or Installation of stucco requires using a failsafe method of three-layer application to ensure that your commercial or residential stucco application is done correctly, it provides superior performance due to the three coats of stucco. The three-layer application also requires less maintenance over the lifetime of the stucco. We offer our customers the best local stucco options, and we consider  ourselves the best local stucco company in Toronto Ontario.

Rostica stucco service will install, repair and/or retexture your stucco surface correctly in your place, you can rely on us to keep your business or home property safe from water damage and moisture issues. When your commercial stucco or residential stucco is properly maintained it keeps your place energy efficient and weatherproof. If your place needs stucco repair, texture stucco restoration or smooth stucco restoration, choose Rostica Construction for your stucco repair and installation needs. We offer many different stucco services, if you need residential or commercial stucco application, stucco repair or plaster repair in Toronto city, look no further! you've found the best stucco company in Toronto Ontario.

How We Can Help

We are experts on everything stucco! Rostica Construction lives up to its name by providing quality work and excellent customer service to anyone in need of stucco work, our quality workmanship has earned us a reputation that made us grow as a best stucco and plastering contractors in Toronto Ontario, much of our business is repeat or referral business from satisfied customers. If you are tired of contractors who provide bad work and poor service at inflated prices, consider choosing us to handle your next project.

Our Mission

We are dedicated to assisting our clients by providing quality drywall, plastering service and quality stucco finish at a lower cost. We always ensure to maintain safe and legal practices for clients and our employees. We look forward to helping you with the home renovation or repairs you need to build yourself the dream home you've always wanted!

Qualification

Rostica Construction Inc, is a licensed, bonded, and insured business, we have years of experience planning, managing, and executing construction projects for drywall, stucco, and plastering. All aspects of your home project will be taken care of by our professional team. We have provided high-quality home renovation and repairs to many clients, which include million-dollar homes and commercial businesses too.

Why Choose Us

Rostica Construction is one of the most respected finishing and stucco contractors in Toronto city. We operate with a commitment to build business relationships one project at a time through personal integrity and open communication. We strive to maintain the highest level of professionalism, honesty and fairness in our relationship with our suppliers, subcontractors, professional associates and customers.

Rostica Construction is dedicated to provide superior quality work at fair and market competitive prices. We strive to achieve customer satisfaction in all areas including timeliness, attention to detail, and service-minded attitudes. We feel this will ensure the longevity of our company through repeat and referral business. We pride ourselves in being knowledgeable and highly skilled in our trades, we offer a wide range of services and innovative stucco materials and techniques.

From interior to exterior, large commercial to residential, we bring our clients a large selection of colors and texture options, and treat each project with the same professional integrity that our name and reputation has been built upon. We ask and encourage you to contact us and see for yourself, the difference in the services we have to offer for your home or business.

Rostica Construction Service Cost

We offer the most comprehensive Plastering & Stucco Services at the most competitive price in the Toronto area. If you are looking for the most reliable Stucco repairs, stucco installation in the Etobicoke, stucco installation in York, stucco installation in North York, stucco installation in West End, stucco installation in Downtown, stucco installation in Midtown, stucco installation in Uptown, stucco installation in East York, stucco installation in East End or stucco installation in Scarborough, look no further than Rostica Construction. Hiring us to handle your stucco work for your home is cost efficient. Professional stucco service saves you money down the  line by catching problems before they become major obstacles. We offer a full guarantee on all the work we do. And we don’t waste your valuable time. We show up on time, start work right away and work until the job is right. Call Rostica today to inquire about our professional stucco services.

[shayanandamy]

A Masterpiece In Heart Of North York,Quality Brand New Custom Built Large 4+1 Bed, 7 Wash.Loads Of Mouldings, Smart Home System, Sound, Lighting , Security, Heated Floor.Magnificent Gated Mansion With Amazing Layout. 4300Sqft Plus Finished Bsmt.Exceptional Foyer(23Ft Hi-Ceiling) & Library(13Ft Hi Ceiling).Upg'd Private Elevator & Heated Marble Bsmt. #house #exclusive #luxury #luxuryrealestate #amazing #best #builder #realestate #remax #remaxrealtron #toronto #custombuilt #northyork (at Toronto, Ontario) https://www.instagram.com/p/B8c_nqJp5CR/?igshid=7copq7h8d0po

[bettydgunter90]

Modular Housing and Mainstream Real Estate

Modular homes aren’t new, but the concept is becoming more popular as affordable housing continues to be a substantial issue for North Americans.

With supply shortages across the country, the most obvious solution would be to build more homes. However, a hefty combination of economic trends, policy decisions, and demographic complexities have made it extremely tough for cities to tackle the affordable housing issue. Homeownership is not even something many middle-class workers can dream about; it’s just not realistic. However, modular housing could change this austere reality.

Modular houses, condos and buildings are structures that are built off-site in a manufacturing plant. The homes are built in sections (or modules) that are transported by trucks to the housing or building site once the sections are complete. The modules are lifted by a crane onto a permanent foundation, and builders complete the construction, just like they would for a traditional home.

Select cities are looking at these structures as part of a solution for homeless individuals. Vancouver, Seattle, Los Angeles and Toronto have all launched modular housing projects aimed at giving people without a home somewhere stable and comfortable to live. But these homes have the potential to do much more.

Families who are having trouble finding a home that fits their needs and their budget could explore modular housing. These factory-built homes are customizable, they can be completed in a matter of months, and they can be cheaper than a traditional home. That’s because most of the construction is completed indoors. Builders don’t have to deal with weather delays, and they can get the job done more quickly and efficiently. Furthermore, materials can be ordered in bulk, and the home buyer only pays for what they use. Leftover materials can be used for another home. The quality of the structure tends to be better when homes are designed this way, and materials may be more sustainable too.

According to HomeAdvisor, a 1,800-square-foot modular home costs around $240,000 to build. However, that cost does not include the expense of purchasing the land, or additional fees such as delivery or installation. Custom designs cost more (think $400,000 – $500,000). By comparison, the cost to build a custom stick-built home starts at around $350,000, and can easily climb to well over $1 million. Where you live will largely dictate how much it costs to build a new home.

Securing land may be the biggest challenge for people looking to invest in a modular home, though these homes can be built on top of basements and crawlspaces. if they can overcome that hurdle, the results can be overwhelmingly positive. Just take a look at this beautiful modular summer home built in Amagansett, New York.

Modular design is slowly being applied to larger structures such as condos, office buildings, student housing, and even hotels, for the same reasons that it has been applied to single-family home development. From site preparation to occupancy, multi-residential buildings could take as little as four months to complete. Traditionally, condos can take years to build, so modular construction could be a real game-changer when it comes to housing availability in dense urban areas.

There’s one more major advantage of using a modular building model for larger residential buildings, and that is labor costs.

The shift to factory-made units typically means safer working conditions and less waste. But, fewer subcontractors and construction workers are needed as well. Typically, a developer will hire a general contractor, and that contractor will hire a subcontractor (and the subcontractor might hire another subcontractor). This is a costly and inefficient system. To make matters worse, construction labor is incredibly expensive because there is a shortage of both skilled and unskilled labor in the construction market.

Modular housing minimizes the cycle of redundancy, putting most or all of the work under the control of a single company. It also standardizes the production process, even though every building will have a unique design, making condo construction more automated and less tedious.

The global modular and prefabricated building market accounted for approximately $150 billion in 2019. That number is expected to rise to roughly $288 billion by 2029. Developers are always looking for ways to cut construction costs and reduce construction time, and modular development helps alleviate both of those pain points.

Growing awareness about the advantages of modular homes, combined with the continual need for sustainable, affordable housing, will almost certainly propel the growth of the global modular market. Modular homes are greener, less expensive, and less complicated. While there will always be a market for traditional homes and buildings, don’t be surprised if you see a condo being hauled in pieces through your downtown core to its final destination.

Kim Brown is a writer with Condo Control Central.

    The post Modular Housing and Mainstream Real Estate appeared first on Think Realty | A Real Estate of Mind.

from Real Estate Tips https://thinkrealty.com/modular-housing-mainstream-real-estate/

[realestatedevelopmentblog]

Toronto As The Dreamland Of Canada

Toronto the largest city of Canada and the capital city of Ontorto is the hub of business, finance, and of urban development. A city of  numerous skyscrapers and buildings, Toronto consists of the tallest structure CN Tower only surpassed by Burj Khalifa. Toronto is a conglomeration of modern and ancient structural design and various architectural changes have ushered in with time. Another important aspect of Toronto's architecture is that housing designs are different from that of commercial ones.

 In this article we are gonna talk about new home developments in Toronto.Having a new home is always important and to meet the end of numerous customers a number of new home development companies are emerging all through Canada especially in Toronto owing to its being the center of new development.These companies have built houses like condominiums detached single houses and community housing societies.Some of them are already complete and some under construction. Building  companies in order to increase their business are advertising their construction online through various websites an also on social media. There are online portals where one can easily search for new home developments and list of new homes available in Toronto.

 Focusing on new home development companies are focusing on different aspects of house building such as quality of product they are using keeping in mind the future of these constructions, innovative ideas to become one of its kind, sorrounding environment and also keeping in mind the variety of customers they intend to serve that is keeping them affordable.  Real estate industry in Toronto is growing rapidly which in turn is escalating other business and industries that are subsequently related to real estate and its adjoining sector.

 To find property management companies in North York with high professionalism, quality and affordability, visit this website.

 Read more articles about property builders GTA here at - https://writeapp.me/ricklopez/note/hire-property-management-solutions-in-toronto

[walterfrodriguez]

National Cheat Sheet: Amazon chooses 20 finalists for HQ2, Apple picking a new campus of its own … & more

Clockwise from top left: Miami’s Nautilus South Beach is for sale, Brown Harris Stevens lines up 30 brokerages for global network, U.S. homebuilder confidence fell slightly in January, and Amazon narrows its HQ2 search to 20 cities.

From TRD NYC: Amazon narrows HQ2 search to 20 cities Seattle-based Amazon released a list of 20 potential cities where it may build its second headquarters. Amazon’s promised $5 billion investment in construction and 50,000 jobs have had cities across North America scrambling to win the tech giant’s favor. The list includes some of the nation’s biggest cities — New York, Miami and Los Angeles among them — as well as some smaller locales such as Columbus, Ohio and Indianapolis, Indiana. Toronto is the only finalist located outside the U.S. [TRD]

Apple picking a new campus somewhere in the US and expanding data centers Apple, too, is in search of a new corporate campus in the U.S. The Cupertino, California-based company did not announce the size or preferred location of its new campus, but said it will initially house customer support staff at the new location. Apple also plans to make investments in expanding its domestic data centers. [Reuters]

Skanksa names new CEO of US operations and lays off thousands Skanksa USA, the American branch of the Swedish construction giant, named Richard Kennedy as its CEO amid a worldwide restructuring that will result in layoffs of about 3,000 employees. Kennedy, who had been president of Skanksa USA’s building unit, succeeds Anders Danielsson, who was named CEO of Skanska AB in December. [TRD]

Brookfield and Onex plan $3.7B bid for coworking firm WeWork rival IWG, formerly known as “Regus,” is attracting interest from two Canadian private equity firms. Brookfield Asset Management and Onex are planning to bid $3.7 billion for the company, which has almost 3,000 workspace locations worldwide, Reuters reported. [TRD]

Amid concerns over tax law and construction costs, US homebuilder confidence drops slightly While still near its high point, U.S. homebuilder confidence fell slightly in January, according to the National Association of Home Builders/Wells Fargo. Confidence in the single-family home market fell 2 points from December, when the level was at its highest point since 1999. While the NAHB cited a strong economy and limited supply of available homes as strong point, Bloomberg reported that the new tax law and rising construction costs could pose challenges to homebuilders. [TRD]

CoStar expands into former rival Xceligent’s home turf Real estate data company CoStar announced a partnership with the Kansas City Regional Association of Realtors, moving into the hometown of Xceligent, its main rival that folded amidst a costly legal battle between the two firms. CoStar will become the “exclusive data, analytics and marketing provider” for the realtors’ group. Xceligent’s bankruptcy caused hundreds to lose their jobs in the Kansas City office. [TRD]

Lawsuit against Zillow claims it conceals Zestimates for some listings A lawsuit filed in New Jersey accuses online real estate service Zillow of giving preferential treatment to brokerages that have “contracts” with the site by withholding Zestimates for certain listings. EJ MGT LLC, the plaintiff, says Zillow is breaking antitrust laws. A statement from Zillow denies any wrongdoing and states that the company intends to “vigorously defend ourselves against this lawsuit.” [TRD]

Brown Harris Stevens lines up 30 brokerages for global network Led by Brown Harris Stevens, 30 brokerages around the world are joining together to promote each others listings online. Formerly affiliated with the auction house Christie’s, BHS will now partner with Hilton & Hyland Real Estate in Beverly Hills, Daniel Féau in Paris and London’s Strutt & Parker, among others. “The unique part is that for each listing, the contact is the listing broker themselves,” said co-president Hall Willkie, who added that there are no dues and referral fees for those listing on the network. [TRD]

MAJOR MARKET HIGHLIGHTS

Miami’s Nautilus South Beach for sale, could fetch $180M The 250-key Nautilus South Beach hotel is for sale, and industry sources say it could sell for as much as $180 million. Quadrum Global paid $61 million for the hotel in 2011 and launched a major renovation. It was designed by Miami Modern architect Morris Lapidus in the 1950s. CBRE has the listing. [TRD]

Chicago courts developers in hopes of revitalizing city-owned warehouses The Chicago Community Development Commission is looking for developers to reinvigorate two massive city-owned warehouses. The six-story structures were built by the U.S. Army in 1918 and were once the largest concrete warehouses in the world, with 570,000 square feet apiece. The city is offering up the buildings as part of an international design competition sponsored by C40, a coalition of cities looking for sustainable ways to combat climate change. Developers have until May 4 to submit their qualifications to the city. [Chicago Business]

HP’s Houston campus on the market HP Enterprise is marketing its 2-million-square-foot campus in Houston for sale, and it could fetch an estimated $55 million. Originally the home of Compaq Computers, which HP acquired in 2002, the complex has manufacturing and laboratory space, but after Hurricane Harvey flooded parts of Houston, HP announced it would move its manufacturing operations to Austin and Chippewa Falls, Wisconsin. HP sold a chunk of the campus to Lone Star College System in 2009 amidst a corporate consolidation. [Houston Chronicle]

Apple to lease four-story building in LA’s Culver City As Apple promises to build a second campus somewhere in the U.S., it is also in talks to expand its footprint in Los Angeles. Sources tell The Real Deal that Apple will lease all of Lincoln Property Co.’s building at 8777 Washington Boulevard in Culver City. The 128,000-square-foot property includes ground floor retail with office space above. HBO was thought to become the building’s sole occupant, but that deal fell through. [TRD]

Amazon leases two more office buildings in Seattle And as it searches for a home for a second headquarters, Amazon continues to grow in its hometown Seattle. The online retail giant leased two more office buildings in Seattle, adding nearly 350,000 square feet to the 8 million square feet it already controls in the city. Amazon will occupy all 11 floors in the new 9th and Thomas building and 186,000 square feet in the former Pemco Insurance headquarters. [Seattle Times]

from The Real Deal Miami & Real Estate News News | & Curbed Miami - All https://therealdeal.com/2018/01/18/national-cheat-sheet-amazon-chooses-20-finalists-for-hq2-apple-picking-a-new-campus-of-its-own-more/#new_tab via IFTTT

[juditmiltz]

National Cheat Sheet: Investors ditch hedge funds for real estate, Quicken Loans slapped with $11M fine … & more

Clockwise from top left: Miami Beach, Compass founder and CEO Robert Reffkin, Venice Beach, Quicken Loans building.

Investors are putting their money in real estate over hedge funds

From TRD New York: Wealthy investors currently have about 33 percent of their portfolios in real estate, according to a survey by Tiger 21, a social networking site for investors. The survey also revealed that hedge fund investments slid to 4 percent, Bloomberg reported. [TRD]

Quicken Loans slapped with $11M fine for appraisal tampering

Quicken Loans, the holder of the No.1 customer satisfaction rating by J.D. Power for seven years, has received a blow to their image in the form an $11 million fine for influencing appraisals to encourage loan approvals. The tampering dates back to the boom years prior to 2008, when the mortgage company furnished appraisers in West Virginia with “estimated” home values, needed to secure a loan approvals, which ultimately left the owners under water, a federal prosecutor said. [TRD]

More Canadians are moving to the U.S.: report

While China is still the leading foreign buyer of United States homes, with a whopping $31.7 billion spent in the year that ended in March, our neighbor to the north also made some considerable investments. Canadians increased their spending in the U.S. housing market, jumping from $9 billion in 2015 to $19 billion invested last year, The Wall Street Journal reported. Rising prices in cities like Toronto and Vancouver are credited for the increase in Canadian investments in the U.S. According to a report by the National Association of Realtors, foreign buyers make up about 10 percent of American home sales. [TRD]

Blackstone executive predicts tougher times than expected for retailers

Times are tough even in the luxury retail market, Blackstone Group managing director Nadeem Meghji said this week. “The retail industry is clearly facing headwinds,” Meghji told the Financial Times, adding that he hadn’t thought luxury retailers would be affected so quickly. And the numbers back that up: Cushman & Wakefield’s most recent market report showed availability rates of 20 percent or more in six of Manhattan’s 12 top retail markets. [TRD]

Lack of lumber causes homebuilder confidence to dip to an eight-month low

Rising material costs, particularly lumber, has the homebuilding industry concerned. Builder confidence has hit an eight-month low, according to a poll by the National Association of Home Builders and Wells Fargo. Housing demand is still strong, but builders feel pressure to absorb the increase in costs in order to offer competitively priced homes, the poll found. NAHB Chairman Granger MacDonald told Bloomberg that rising prices of building materials “is hurting housing affordability even as consumer interest in the new-home market remains strong.” [TRD]

Sears-affiliated REIT sells almost $250M share of company to mall owner GGP

Real estate investment trust Seritage Growth Properties just completed two sizable transactions, offloading its 50 percent stake to its joint venture partner, General Growth Properties. Seritage was initially formed by Sears CEO Eddie Lampert two years ago to raise money for the ailing retail chain. As part of the new deals, 50 percent of the eight of the 12 Sears assets it owned were sold for $190 million along with half of a JV interest for five other properties, also sold to GGP, for $57.7 million. [bisnow.com]

Compass CEO predicts international expansion in next 18 months

Residential brokerage Compass’s CEO Robert Reffkin has his sights set on heading abroad. In an interview with The Real Deal in his Fifth Avenue office, Reffkin predicted that Compass would have an international presence within 18 months. He declined to specify which markets he would like to target first. In just four years, Compass has raised over $225 million in venture capital and has reached a valuation of over $1 billion. [TRD]

 Major Market Highlights

South Florida’s residential market shows signs of improvement: Elliman 

Douglas Elliman’s 2017 Q2 report revealed that sales were up for the second quarter in a row. Miami Beach saw a 3.7 increase in sales, year-over-year and sales in Fort Lauderdale were up 10.2 percent year-over-year. Jonathan Miller, the author of the report, credits the uptick to sellers pricing their homes more reasonably. “Sellers of high-end real estate are more in sync with reality than they have been in the past,” he told The Real Deal. [TRD]

New York City self storage surge

Due to a lack of self storage space relative to the New York City population, self storage companies including Cube Smart and Extra Space Storage have seen a surge in demand. As a result of the demand, between 2 and 2.5 million square feet of self-storage space is under development across the five boroughs. However, not all storage companies are putting their eggs in the NYC basket. REIT Self Storage CEO told TRD that the company isn’t planning any New York facilities given the upcoming increase in storage spaces in the city. [TRD]

Venice Beach is the toughest place to build in America

Strict zoning codes coupled with the culture of the “Not In My Back Yard” sentiment has made Los Angeles’ Venice Beach the hardest area to develop in the United States, according to data from BuildingZoom, a site that connects homeowners to local contractors. Venice hasn’t gained a single housing unit in the past 15 years, according to The Wall Street Journal. Due to downzoning and wealthy buyers who bought and destroyed adjacent properties to expand, Venice housing units shrunk by 700 between 2000 and 2015. [TRD]

Louisiana Governor yields to FTC pressure over appraisers’ pay 

In a decision that is likely to please appraisers everywhere, Louisiana Gov. John Bel Edwards issued an executive order that repealed a state law that limited how much appraisers could be paid by their management companies. The repeal followed a complaint filed by the Federal Trade Commission accusing the state of price fixing. [Housing Wire]

Chinese investors would rather move to Los Angeles over New York

Wealthy Chinese citizens would rather call themselves Angelenos, not New Yorkers. According to a survey from Hurun Report, those with a net worth of over $1.5 million that are looking to move to the United States are favoring Los Angeles. CNBC first reported that worries over the stability of Chinese currency, air pollution, and education are the primary driving factors for those looking to emigrate from China. [TRD]

from The Real Deal Miami https://therealdeal.com/2017/07/21/national-cheat-sheet-investors-ditch-hedge-funds-for-real-estate-quicken-loans-slapped-with-11m-fine-more/#new_tab via IFTTT

[lovelyfantasticfart]

Agent Statistics: The highest 1% Of The Toronto Real Estate Board

And analysts nonetheless consider London鈥檚 actual estate market overvalued, whilst prime prices have receded 8% since their 2015 peak. That's principally all the jobs which are an important in our society, even though i did not reply them all there's an excessive amount of of them to say. 鈥淚t paves the best way for a lot needed innovation in the actual property trade,鈥?he said in an announcement in regards to the case has been happening for six years. As a result, a lot of the Internet was designed (or not designed) with any checks and balances. Consider joining an internet based mostly dialogue board of songs fanatics. The Toronto Real Estate Board is finding out methods to make sure Greater Toronto Area dwelling sales information is 鈥減rotected,鈥?as realtors have rushed to publish the numbers, a few of whom posted them publicly, without requiring a password for access. The board 鈥渨ill be studying the required subsequent steps to ensure such information might be protected in compliance with the tribunal order as soon as that comes into impact,鈥?board chief executive John DiMichele mentioned in an announcement. At the end of 2010, Toronto Life revealed a feature article on all the neighbourhoods that can tank in 2011, citing Leslieville and the Junction as probably the most in jeopardy.

Condominium sales in Toronto virtually doubled to 674 transactions, a rise of ninety seven per cent from a year in the past. Diversified Labour Market: Toronto has a effectively diversified employment market with the number of jobs in finance, insurance coverage, skilled, scientific and technical services out numbering these within the manufacturing sector. You can be amazed at how well your customer base can help you brainstorm an idea, produce the "blueprint", and lay out the very best implementation of the concept. Upon having a daily approach and constant fifty backyard photo start off swinging somewhat extra rear in addition to somewhat tougher. If you're looking to purchase or sell within the GTA I could be more than happy to debate options with you. Whereas searching for peeling paint in the bedroom and water leakage in the basement, do not forget to check the electrical system of the actual-property property. They rent their services because of their experience and data in actual property, and Mississauga's actual property brokers are notably good.

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Slender down your own home search to filter by price, bedrooms, size or search by our map of MLS listings for Canada-vast actual property. We provide extremely helpful data for each the novice and expert real property investor. Nevertheless, some search sites solely present info for registered companies and plenty of firms don't at all times register within the state where they're doing enterprise. Join with us to see how we may also help and elevate your online business and stand out from competition. Birds might be territorial and will dive bomb you. When you wait for the weekend, or for a convenient time, the house could also be gone. Get open house information, find new homes and properties in North York. The study revealed that the top four municipalities for buyers in the GTA had been in York Region. I don't suppose it is necessary that you are cool or hip to reside in this metropolis.

Meaning outcomes are as easy to see as could be simply by getting on and pedaling away. There are a complete of capitalists getting concerned about the various areas of Kolkata and as well as getting it, the distinctive advice being Rajarhat. There are a few things you must attempt to seek out when selecting a camping tent for an exterior occasion. Sometimes, builders want pre-sales of at least 70 per cent to get financing to move a venture forward, said Phong Ngo, director of data options at Altus. On the off likelihood that you just do need an overhaul, don鈥檛 be hesitant to arrange, and do your examination to ensure the associated fee is affordable. The house vendor can choose what charge they may provide (if any) to a buyer鈥檚 agent. I am unable to overemphasize how crucial it is going to be to bolster Canada's retirement policy now more than ever. Fourth Avenue Residences condo floor plan is important to decide on a format that can accommodate your personalised wants however will even show to be enticing to potential purchasers within the potential.

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[bettydgunter90]

Modular Housing and Mainstream Real Estate

Modular homes aren’t new, but the concept is becoming more popular as affordable housing continues to be a substantial issue for North Americans.

With supply shortages across the country, the most obvious solution would be to build more homes. However, a hefty combination of economic trends, policy decisions, and demographic complexities have made it extremely tough for cities to tackle the affordable housing issue. Homeownership is not even something many middle-class workers can dream about; it’s just not realistic. However, modular housing could change this austere reality.

Modular houses, condos and buildings are structures that are built off-site in a manufacturing plant. The homes are built in sections (or modules) that are transported by trucks to the housing or building site once the sections are complete. The modules are lifted by a crane onto a permanent foundation, and builders complete the construction, just like they would for a traditional home.

Select cities are looking at these structures as part of a solution for homeless individuals. Vancouver, Seattle, Los Angeles and Toronto have all launched modular housing projects aimed at giving people without a home somewhere stable and comfortable to live. But these homes have the potential to do much more.

Families who are having trouble finding a home that fits their needs and their budget could explore modular housing. These factory-built homes are customizable, they can be completed in a matter of months, and they can be cheaper than a traditional home. That’s because most of the construction is completed indoors. Builders don’t have to deal with weather delays, and they can get the job done more quickly and efficiently. Furthermore, materials can be ordered in bulk, and the home buyer only pays for what they use. Leftover materials can be used for another home. The quality of the structure tends to be better when homes are designed this way, and materials may be more sustainable too.

According to HomeAdvisor, a 1,800-square-foot modular home costs around $240,000 to build. However, that cost does not include the expense of purchasing the land, or additional fees such as delivery or installation. Custom designs cost more (think $400,000 – $500,000). By comparison, the cost to build a custom stick-built home starts at around $350,000, and can easily climb to well over $1 million. Where you live will largely dictate how much it costs to build a new home.

Securing land may be the biggest challenge for people looking to invest in a modular home, though these homes can be built on top of basements and crawlspaces. if they can overcome that hurdle, the results can be overwhelmingly positive. Just take a look at this beautiful modular summer home built in Amagansett, New York.

Modular design is slowly being applied to larger structures such as condos, office buildings, student housing, and even hotels, for the same reasons that it has been applied to single-family home development. From site preparation to occupancy, multi-residential buildings could take as little as four months to complete. Traditionally, condos can take years to build, so modular construction could be a real game-changer when it comes to housing availability in dense urban areas.

There’s one more major advantage of using a modular building model for larger residential buildings, and that is labor costs.

The shift to factory-made units typically means safer working conditions and less waste. But, fewer subcontractors and construction workers are needed as well. Typically, a developer will hire a general contractor, and that contractor will hire a subcontractor (and the subcontractor might hire another subcontractor). This is a costly and inefficient system. To make matters worse, construction labor is incredibly expensive because there is a shortage of both skilled and unskilled labor in the construction market.

Modular housing minimizes the cycle of redundancy, putting most or all of the work under the control of a single company. It also standardizes the production process, even though every building will have a unique design, making condo construction more automated and less tedious.

The global modular and prefabricated building market accounted for approximately $150 billion in 2019. That number is expected to rise to roughly $288 billion by 2029. Developers are always looking for ways to cut construction costs and reduce construction time, and modular development helps alleviate both of those pain points.

Growing awareness about the advantages of modular homes, combined with the continual need for sustainable, affordable housing, will almost certainly propel the growth of the global modular market. Modular homes are greener, less expensive, and less complicated. While there will always be a market for traditional homes and buildings, don’t be surprised if you see a condo being hauled in pieces through your downtown core to its final destination.

Kim Brown is a writer with Condo Control Central.

    The post Modular Housing and Mainstream Real Estate appeared first on Think Realty | A Real Estate of Mind.

from Real Estate Tips https://thinkrealty.com/modular-housing-mainstream-real-estate/

[walterfrodriguez]

National Cheat Sheet: Amazon chooses 20 finalists for HQ2, Apple picking a new campus of its own … & more

Clockwise from top left: Miami’s Nautilus South Beach is for sale, Brown Harris Stevens lines up 30 brokerages for global network, U.S. homebuilder confidence fell slightly in January, and Amazon narrows its HQ2 search to 20 cities.

From TRD NYC: Amazon narrows HQ2 search to 20 cities Seattle-based Amazon released a list of 20 potential cities where it may build its second headquarters. Amazon’s promised $5 billion investment in construction and 50,000 jobs have had cities across North America scrambling to win the tech giant’s favor. The list includes some of the nation’s biggest cities — New York, Miami and Los Angeles among them — as well as some smaller locales such as Columbus, Ohio and Indianapolis, Indiana. Toronto is the only finalist located outside the U.S. [TRD]

Apple picking a new campus somewhere in the US and expanding data centers Apple, too, is in search of a new corporate campus in the U.S. The Cupertino, California-based company did not announce the size or preferred location of its new campus, but said it will initially house customer support staff at the new location. Apple also plans to make investments in expanding its domestic data centers. [Reuters]

Skanksa names new CEO of US operations and lays off thousands Skanksa USA, the American branch of the Swedish construction giant, named Richard Kennedy as its CEO amid a worldwide restructuring that will result in layoffs of about 3,000 employees. Kennedy, who had been president of Skanksa USA’s building unit, succeeds Anders Danielsson, who was named CEO of Skanska AB in December. [TRD]

Brookfield and Onex plan $3.7B bid for coworking firm WeWork rival IWG, formerly known as “Regus,” is attracting interest from two Canadian private equity firms. Brookfield Asset Management and Onex are planning to bid $3.7 billion for the company, which has almost 3,000 workspace locations worldwide, Reuters reported. [TRD]

Amid concerns over tax law and construction costs, US homebuilder confidence drops slightly While still near its high point, U.S. homebuilder confidence fell slightly in January, according to the National Association of Home Builders/Wells Fargo. Confidence in the single-family home market fell 2 points from December, when the level was at its highest point since 1999. While the NAHB cited a strong economy and limited supply of available homes as strong point, Bloomberg reported that the new tax law and rising construction costs could pose challenges to homebuilders. [TRD]

CoStar expands into former rival Xceligent’s home turf Real estate data company CoStar announced a partnership with the Kansas City Regional Association of Realtors, moving into the hometown of Xceligent, its main rival that folded amidst a costly legal battle between the two firms. CoStar will become the “exclusive data, analytics and marketing provider” for the realtors’ group. Xceligent’s bankruptcy caused hundreds to lose their jobs in the Kansas City office. [TRD]

Lawsuit against Zillow claims it conceals Zestimates for some listings A lawsuit filed in New Jersey accuses online real estate service Zillow of giving preferential treatment to brokerages that have “contracts” with the site by withholding Zestimates for certain listings. EJ MGT LLC, the plaintiff, says Zillow is breaking antitrust laws. A statement from Zillow denies any wrongdoing and states that the company intends to “vigorously defend ourselves against this lawsuit.” [TRD]

Brown Harris Stevens lines up 30 brokerages for global network Led by Brown Harris Stevens, 30 brokerages around the world are joining together to promote each others listings online. Formerly affiliated with the auction house Christie’s, BHS will now partner with Hilton & Hyland Real Estate in Beverly Hills, Daniel Féau in Paris and London’s Strutt & Parker, among others. “The unique part is that for each listing, the contact is the listing broker themselves,” said co-president Hall Willkie, who added that there are no dues and referral fees for those listing on the network. [TRD]

MAJOR MARKET HIGHLIGHTS

Miami’s Nautilus South Beach for sale, could fetch $180M The 250-key Nautilus South Beach hotel is for sale, and industry sources say it could sell for as much as $180 million. Quadrum Global paid $61 million for the hotel in 2011 and launched a major renovation. It was designed by Miami Modern architect Morris Lapidus in the 1950s. CBRE has the listing. [TRD]

Chicago courts developers in hopes of revitalizing city-owned warehouses The Chicago Community Development Commission is looking for developers to reinvigorate two massive city-owned warehouses. The six-story structures were built by the U.S. Army in 1918 and were once the largest concrete warehouses in the world, with 570,000 square feet apiece. The city is offering up the buildings as part of an international design competition sponsored by C40, a coalition of cities looking for sustainable ways to combat climate change. Developers have until May 4 to submit their qualifications to the city. [Chicago Business]

HP’s Houston campus on the market HP Enterprise is marketing its 2-million-square-foot campus in Houston for sale, and it could fetch an estimated $55 million. Originally the home of Compaq Computers, which HP acquired in 2002, the complex has manufacturing and laboratory space, but after Hurricane Harvey flooded parts of Houston, HP announced it would move its manufacturing operations to Austin and Chippewa Falls, Wisconsin. HP sold a chunk of the campus to Lone Star College System in 2009 amidst a corporate consolidation. [Houston Chronicle]

Apple to lease four-story building in LA’s Culver City As Apple promises to build a second campus somewhere in the U.S., it is also in talks to expand its footprint in Los Angeles. Sources tell The Real Deal that Apple will lease all of Lincoln Property Co.’s building at 8777 Washington Boulevard in Culver City. The 128,000-square-foot property includes ground floor retail with office space above. HBO was thought to become the building’s sole occupant, but that deal fell through. [TRD]

Amazon leases two more office buildings in Seattle And as it searches for a home for a second headquarters, Amazon continues to grow in its hometown Seattle. The online retail giant leased two more office buildings in Seattle, adding nearly 350,000 square feet to the 8 million square feet it already controls in the city. Amazon will occupy all 11 floors in the new 9th and Thomas building and 186,000 square feet in the former Pemco Insurance headquarters. [Seattle Times]

from The Real Deal Miami & Real Estate News News | & Curbed Miami - All https://therealdeal.com/2018/01/18/national-cheat-sheet-amazon-chooses-20-finalists-for-hq2-apple-picking-a-new-campus-of-its-own-more/#new_tab via IFTTT

[juditmiltz]

National Cheat Sheet: Investors ditch hedge funds for real estate, Quicken Loans slapped with $11M fine … & more

Clockwise from top left: Miami Beach, Compass founder and CEO Robert Reffkin, Venice Beach, Quicken Loans building.

Investors are putting their money in real estate over hedge funds

From TRD New York: Wealthy investors currently have about 33 percent of their portfolios in real estate, according to a survey by Tiger 21, a social networking site for investors. The survey also revealed that hedge fund investments slid to 4 percent, Bloomberg reported. [TRD]

Quicken Loans slapped with $11M fine for appraisal tampering

Quicken Loans, the holder of the No.1 customer satisfaction rating by J.D. Power for seven years, has received a blow to their image in the form an $11 million fine for influencing appraisals to encourage loan approvals. The tampering dates back to the boom years prior to 2008, when the mortgage company furnished appraisers in West Virginia with “estimated” home values, needed to secure a loan approvals, which ultimately left the owners under water, a federal prosecutor said. [TRD]

More Canadians are moving to the U.S.: report

While China is still the leading foreign buyer of United States homes, with a whopping $31.7 billion spent in the year that ended in March, our neighbor to the north also made some considerable investments. Canadians increased their spending in the U.S. housing market, jumping from $9 billion in 2015 to $19 billion invested last year, The Wall Street Journal reported. Rising prices in cities like Toronto and Vancouver are credited for the increase in Canadian investments in the U.S. According to a report by the National Association of Realtors, foreign buyers make up about 10 percent of American home sales. [TRD]

Blackstone executive predicts tougher times than expected for retailers

Times are tough even in the luxury retail market, Blackstone Group managing director Nadeem Meghji said this week. “The retail industry is clearly facing headwinds,” Meghji told the Financial Times, adding that he hadn’t thought luxury retailers would be affected so quickly. And the numbers back that up: Cushman & Wakefield’s most recent market report showed availability rates of 20 percent or more in six of Manhattan’s 12 top retail markets. [TRD]

Lack of lumber causes homebuilder confidence to dip to an eight-month low

Rising material costs, particularly lumber, has the homebuilding industry concerned. Builder confidence has hit an eight-month low, according to a poll by the National Association of Home Builders and Wells Fargo. Housing demand is still strong, but builders feel pressure to absorb the increase in costs in order to offer competitively priced homes, the poll found. NAHB Chairman Granger MacDonald told Bloomberg that rising prices of building materials “is hurting housing affordability even as consumer interest in the new-home market remains strong.” [TRD]

Sears-affiliated REIT sells almost $250M share of company to mall owner GGP

Real estate investment trust Seritage Growth Properties just completed two sizable transactions, offloading its 50 percent stake to its joint venture partner, General Growth Properties. Seritage was initially formed by Sears CEO Eddie Lampert two years ago to raise money for the ailing retail chain. As part of the new deals, 50 percent of the eight of the 12 Sears assets it owned were sold for $190 million along with half of a JV interest for five other properties, also sold to GGP, for $57.7 million. [bisnow.com]

Compass CEO predicts international expansion in next 18 months

Residential brokerage Compass’s CEO Robert Reffkin has his sights set on heading abroad. In an interview with The Real Deal in his Fifth Avenue office, Reffkin predicted that Compass would have an international presence within 18 months. He declined to specify which markets he would like to target first. In just four years, Compass has raised over $225 million in venture capital and has reached a valuation of over $1 billion. [TRD]

 Major Market Highlights

South Florida’s residential market shows signs of improvement: Elliman 

Douglas Elliman’s 2017 Q2 report revealed that sales were up for the second quarter in a row. Miami Beach saw a 3.7 increase in sales, year-over-year and sales in Fort Lauderdale were up 10.2 percent year-over-year. Jonathan Miller, the author of the report, credits the uptick to sellers pricing their homes more reasonably. “Sellers of high-end real estate are more in sync with reality than they have been in the past,” he told The Real Deal. [TRD]

New York City self storage surge

Due to a lack of self storage space relative to the New York City population, self storage companies including Cube Smart and Extra Space Storage have seen a surge in demand. As a result of the demand, between 2 and 2.5 million square feet of self-storage space is under development across the five boroughs. However, not all storage companies are putting their eggs in the NYC basket. REIT Self Storage CEO told TRD that the company isn’t planning any New York facilities given the upcoming increase in storage spaces in the city. [TRD]

Venice Beach is the toughest place to build in America

Strict zoning codes coupled with the culture of the “Not In My Back Yard” sentiment has made Los Angeles’ Venice Beach the hardest area to develop in the United States, according to data from BuildingZoom, a site that connects homeowners to local contractors. Venice hasn’t gained a single housing unit in the past 15 years, according to The Wall Street Journal. Due to downzoning and wealthy buyers who bought and destroyed adjacent properties to expand, Venice housing units shrunk by 700 between 2000 and 2015. [TRD]

Louisiana Governor yields to FTC pressure over appraisers’ pay 

In a decision that is likely to please appraisers everywhere, Louisiana Gov. John Bel Edwards issued an executive order that repealed a state law that limited how much appraisers could be paid by their management companies. The repeal followed a complaint filed by the Federal Trade Commission accusing the state of price fixing. [Housing Wire]

Chinese investors would rather move to Los Angeles over New York

Wealthy Chinese citizens would rather call themselves Angelenos, not New Yorkers. According to a survey from Hurun Report, those with a net worth of over $1.5 million that are looking to move to the United States are favoring Los Angeles. CNBC first reported that worries over the stability of Chinese currency, air pollution, and education are the primary driving factors for those looking to emigrate from China. [TRD]

from The Real Deal Miami https://therealdeal.com/2017/07/21/national-cheat-sheet-investors-ditch-hedge-funds-for-real-estate-quicken-loans-slapped-with-11m-fine-more/#new_tab via IFTTT

[juditmiltz]

National Cheat Sheet: Investors ditch hedge funds for real estate, Quicken Loans slapped with $11M fine … & more

Clockwise from top left: Miami Beach, Compass founder and CEO Robert Reffkin, Venice Beach, Quicken Loans building.

Investors are putting their money in real estate over hedge funds

From TRD New York: Wealthy investors currently have about 33 percent of their portfolios in real estate, according to a survey by Tiger 21, a social networking site for investors. The survey also revealed that hedge fund investments slid to 4 percent, Bloomberg reported. [TRD]

Quicken Loans slapped with $11M fine for appraisal tampering

Quicken Loans, the holder of the No.1 customer satisfaction rating by J.D. Power for seven years, has received a blow to their image in the form an $11 million fine for influencing appraisals to encourage loan approvals. The tampering dates back to the boom years prior to 2008, when the mortgage company furnished appraisers in West Virginia with “estimated” home values, needed to secure a loan approvals, which ultimately left the owners under water, a federal prosecutor said. [TRD]

More Canadians are moving to the U.S.: report

While China is still the leading foreign buyer of United States homes, with a whopping $31.7 billion spent in the year that ended in March, our neighbor to the north also made some considerable investments. Canadians increased their spending in the U.S. housing market, jumping from $9 billion in 2015 to $19 billion invested last year, The Wall Street Journal reported. Rising prices in cities like Toronto and Vancouver are credited for the increase in Canadian investments in the U.S. According to a report by the National Association of Realtors, foreign buyers make up about 10 percent of American home sales. [TRD]

Blackstone executive predicts tougher times than expected for retailers

Times are tough even in the luxury retail market, Blackstone Group managing director Nadeem Meghji said this week. “The retail industry is clearly facing headwinds,” Meghji told the Financial Times, adding that he hadn’t thought luxury retailers would be affected so quickly. And the numbers back that up: Cushman & Wakefield’s most recent market report showed availability rates of 20 percent or more in six of Manhattan’s 12 top retail markets. [TRD]

Lack of lumber causes homebuilder confidence to dip to an eight-month low

Rising material costs, particularly lumber, has the homebuilding industry concerned. Builder confidence has hit an eight-month low, according to a poll by the National Association of Home Builders and Wells Fargo. Housing demand is still strong, but builders feel pressure to absorb the increase in costs in order to offer competitively priced homes, the poll found. NAHB Chairman Granger MacDonald told Bloomberg that rising prices of building materials “is hurting housing affordability even as consumer interest in the new-home market remains strong.” [TRD]

Sears-affiliated REIT sells almost $250M share of company to mall owner GGP

Real estate investment trust Seritage Growth Properties just completed two sizable transactions, offloading its 50 percent stake to its joint venture partner, General Growth Properties. Seritage was initially formed by Sears CEO Eddie Lampert two years ago to raise money for the ailing retail chain. As part of the new deals, 50 percent of the eight of the 12 Sears assets it owned were sold for $190 million along with half of a JV interest for five other properties, also sold to GGP, for $57.7 million. [bisnow.com]

Compass CEO predicts international expansion in next 18 months

Residential brokerage Compass’s CEO Robert Reffkin has his sights set on heading abroad. In an interview with The Real Deal in his Fifth Avenue office, Reffkin predicted that Compass would have an international presence within 18 months. He declined to specify which markets he would like to target first. In just four years, Compass has raised over $225 million in venture capital and has reached a valuation of over $1 billion. [TRD]

 Major Market Highlights

South Florida’s residential market shows signs of improvement: Elliman 

Douglas Elliman’s 2017 Q2 report revealed that sales were up for the second quarter in a row. Miami Beach saw a 3.7 increase in sales, year-over-year and sales in Fort Lauderdale were up 10.2 percent year-over-year. Jonathan Miller, the author of the report, credits the uptick to sellers pricing their homes more reasonably. “Sellers of high-end real estate are more in sync with reality than they have been in the past,” he told The Real Deal. [TRD]

New York City self storage surge

Due to a lack of self storage space relative to the New York City population, self storage companies including Cube Smart and Extra Space Storage have seen a surge in demand. As a result of the demand, between 2 and 2.5 million square feet of self-storage space is under development across the five boroughs. However, not all storage companies are putting their eggs in the NYC basket. REIT Self Storage CEO told TRD that the company isn’t planning any New York facilities given the upcoming increase in storage spaces in the city. [TRD]

Venice Beach is the toughest place to build in America

Strict zoning codes coupled with the culture of the “Not In My Back Yard” sentiment has made Los Angeles’ Venice Beach the hardest area to develop in the United States, according to data from BuildingZoom, a site that connects homeowners to local contractors. Venice hasn’t gained a single housing unit in the past 15 years, according to The Wall Street Journal. Due to downzoning and wealthy buyers who bought and destroyed adjacent properties to expand, Venice housing units shrunk by 700 between 2000 and 2015. [TRD]

Louisiana Governor yields to FTC pressure over appraisers’ pay 

In a decision that is likely to please appraisers everywhere, Louisiana Gov. John Bel Edwards issued an executive order that repealed a state law that limited how much appraisers could be paid by their management companies. The repeal followed a complaint filed by the Federal Trade Commission accusing the state of price fixing. [Housing Wire]

Chinese investors would rather move to Los Angeles over New York

Wealthy Chinese citizens would rather call themselves Angelenos, not New Yorkers. According to a survey from Hurun Report, those with a net worth of over $1.5 million that are looking to move to the United States are favoring Los Angeles. CNBC first reported that worries over the stability of Chinese currency, air pollution, and education are the primary driving factors for those looking to emigrate from China. [TRD]

from The Real Deal Miami https://therealdeal.com/2017/07/21/national-cheat-sheet-investors-ditch-hedge-funds-for-real-estate-quicken-loans-slapped-with-11m-fine-more/#new_tab via IFTTT

[juditmiltz]

National Cheat Sheet: Investors ditch hedge funds for real estate, Quicken Loans slapped with $11M fine … & more

Clockwise from top left: Miami Beach, Compass founder and CEO Robert Reffkin, Venice Beach, Quicken Loans building.

Investors are putting their money in real estate over hedge funds

From TRD New York: Wealthy investors currently have about 33 percent of their portfolios in real estate, according to a survey by Tiger 21, a social networking site for investors. The survey also revealed that hedge fund investments slid to 4 percent, Bloomberg reported. [TRD]

Quicken Loans slapped with $11M fine for appraisal tampering

Quicken Loans, the holder of the No.1 customer satisfaction rating by J.D. Power for seven years, has received a blow to their image in the form an $11 million fine for influencing appraisals to encourage loan approvals. The tampering dates back to the boom years prior to 2008, when the mortgage company furnished appraisers in West Virginia with “estimated” home values, needed to secure a loan approvals, which ultimately left the owners under water, a federal prosecutor said. [TRD]

More Canadians are moving to the U.S.: report

While China is still the leading foreign buyer of United States homes, with a whopping $31.7 billion spent in the year that ended in March, our neighbor to the north also made some considerable investments. Canadians increased their spending in the U.S. housing market, jumping from $9 billion in 2015 to $19 billion invested last year, The Wall Street Journal reported. Rising prices in cities like Toronto and Vancouver are credited for the increase in Canadian investments in the U.S. According to a report by the National Association of Realtors, foreign buyers make up about 10 percent of American home sales. [TRD]

Blackstone executive predicts tougher times than expected for retailers

Times are tough even in the luxury retail market, Blackstone Group managing director Nadeem Meghji said this week. “The retail industry is clearly facing headwinds,” Meghji told the Financial Times, adding that he hadn’t thought luxury retailers would be affected so quickly. And the numbers back that up: Cushman & Wakefield’s most recent market report showed availability rates of 20 percent or more in six of Manhattan’s 12 top retail markets. [TRD]

Lack of lumber causes homebuilder confidence to dip to an eight-month low

Rising material costs, particularly lumber, has the homebuilding industry concerned. Builder confidence has hit an eight-month low, according to a poll by the National Association of Home Builders and Wells Fargo. Housing demand is still strong, but builders feel pressure to absorb the increase in costs in order to offer competitively priced homes, the poll found. NAHB Chairman Granger MacDonald told Bloomberg that rising prices of building materials “is hurting housing affordability even as consumer interest in the new-home market remains strong.” [TRD]

Sears-affiliated REIT sells almost $250M share of company to mall owner GGP

Real estate investment trust Seritage Growth Properties just completed two sizable transactions, offloading its 50 percent stake to its joint venture partner, General Growth Properties. Seritage was initially formed by Sears CEO Eddie Lampert two years ago to raise money for the ailing retail chain. As part of the new deals, 50 percent of the eight of the 12 Sears assets it owned were sold for $190 million along with half of a JV interest for five other properties, also sold to GGP, for $57.7 million. [bisnow.com]

Compass CEO predicts international expansion in next 18 months

Residential brokerage Compass’s CEO Robert Reffkin has his sights set on heading abroad. In an interview with The Real Deal in his Fifth Avenue office, Reffkin predicted that Compass would have an international presence within 18 months. He declined to specify which markets he would like to target first. In just four years, Compass has raised over $225 million in venture capital and has reached a valuation of over $1 billion. [TRD]

 Major Market Highlights

South Florida’s residential market shows signs of improvement: Elliman 

Douglas Elliman’s 2017 Q2 report revealed that sales were up for the second quarter in a row. Miami Beach saw a 3.7 increase in sales, year-over-year and sales in Fort Lauderdale were up 10.2 percent year-over-year. Jonathan Miller, the author of the report, credits the uptick to sellers pricing their homes more reasonably. “Sellers of high-end real estate are more in sync with reality than they have been in the past,” he told The Real Deal. [TRD]

New York City self storage surge

Due to a lack of self storage space relative to the New York City population, self storage companies including Cube Smart and Extra Space Storage have seen a surge in demand. As a result of the demand, between 2 and 2.5 million square feet of self-storage space is under development across the five boroughs. However, not all storage companies are putting their eggs in the NYC basket. REIT Self Storage CEO told TRD that the company isn’t planning any New York facilities given the upcoming increase in storage spaces in the city. [TRD]

Venice Beach is the toughest place to build in America

Strict zoning codes coupled with the culture of the “Not In My Back Yard” sentiment has made Los Angeles’ Venice Beach the hardest area to develop in the United States, according to data from BuildingZoom, a site that connects homeowners to local contractors. Venice hasn’t gained a single housing unit in the past 15 years, according to The Wall Street Journal. Due to downzoning and wealthy buyers who bought and destroyed adjacent properties to expand, Venice housing units shrunk by 700 between 2000 and 2015. [TRD]

Louisiana Governor yields to FTC pressure over appraisers’ pay 

In a decision that is likely to please appraisers everywhere, Louisiana Gov. John Bel Edwards issued an executive order that repealed a state law that limited how much appraisers could be paid by their management companies. The repeal followed a complaint filed by the Federal Trade Commission accusing the state of price fixing. [Housing Wire]

Chinese investors would rather move to Los Angeles over New York

Wealthy Chinese citizens would rather call themselves Angelenos, not New Yorkers. According to a survey from Hurun Report, those with a net worth of over $1.5 million that are looking to move to the United States are favoring Los Angeles. CNBC first reported that worries over the stability of Chinese currency, air pollution, and education are the primary driving factors for those looking to emigrate from China. [TRD]

from The Real Deal Miami https://therealdeal.com/2017/07/21/national-cheat-sheet-investors-ditch-hedge-funds-for-real-estate-quicken-loans-slapped-with-11m-fine-more/#new_tab via IFTTT