real estate news articles

Instability of Banks Boosts Appeal of Property Investing in 2023

27/03/2023dansa

If you’ve been paying attention to the news recently, then you may have noticed several banks collapsing in the US in the past couple of weeks, which is beginning to cause alarm.

For those not in the know, on March 10th, the biggest failure of a US bank since the global financial crisis of 2008 happened in real time. Silicon Valley Bank collapsed after a bank run and failed to raise capital, which was the second-largest failure of a financial institution in US history.

Following this, a second bank, Signature Bank, has also shut down, and a third has been propped up. As well as this, Credit Suisse was taken over by UBS, otherwise it would have faced the first threat to a major international bank since 2008.

More than $400 billion has been spent so far to try and dam the river and stop this crisis from spreading further, and by guaranteeing the deposits of Silicon Valley Bank and Signature Bank, the US Federal Reserve has spent over $140 billion.

This crisis naturally has investors worried about where to put their money. Savings accounts have traditionally been known to be the safest way to invest large sums of money

Allied Properties Real Estate Investment (TSE:AP.UN) Hits New 12-Month Low at $24.30

25/03/2023dansa

Shares of Allied Properties Real Estate Investment (TSE:AP.UN – Get Rating) reached a new 52-week low on Wednesday . The company traded as low as C$24.30 and last traded at C$24.51, with a volume of 63325 shares. The stock had previously closed at C$24.73.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AP.UN. Raymond James decreased their target price on Allied Properties Real Estate Investment from C$38.50 to C$36.50 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. CIBC decreased their target price on Allied Properties Real Estate Investment from C$36.00 to C$35.00 and set an “outperform” rating on the stock in a research report on Thursday, February 2nd. Finally, TD Securities lifted their price objective on Allied Properties Real Estate Investment from C$31.00 to C$34.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. One equity research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Allied Properties Real Estate Investment currently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.34.

Allied Properties

Business roundup: Salisbury real estate agents earn quality service award – Salisbury Post

19/03/2023dansa

Business roundup: Salisbury real estate agents earn quality service award

Published 12:00 am Sunday, March 19, 2023

Century 21 Real Estate LLC recently recognized Ashlee Flippin and Samantha Allen with the Quality Service Pinnacle Producer Award. These agents will receive a trophy and be recognized at the Century 21 Global Conference.

The award is based on results from a quality service survey that is e-mailed to consumers after the purchase or sale of a home. To earn the award, an agent must receive completed customer surveys for at least 80 percent of their transactions surveyed from Jan. 1-Dec. 31, with an average survey score of at least 95 percent or better for two consecutive years.

Flippin and Allen are with Century 21 Towne & Country in Salisbury.

“The Quality Service Pinnacle Producer Award is an integral part of our brand’s commitment to excellence and recognizes their dedication to making each and every client interaction memorable and worth celebrating,” said Michael Miedler, president and CEO, Century 21 Real Estate LLC, in a news releases. “The power of the Century 21 brand rests on the shoulders of the persistent sales professionals who always strive to deliver 121% for each and every client

Tucson real estate companies agreed to pay $375K in consumer fraud case

10/03/2023dansa

Two Tucson real estate companies accused of consumer fraud agreed to pay $375,000 in restitution and fees, according to the Arizona Attorney General’s Office.

Of the accused in the 2021 case were companies Deed and Note Traders and 881Home as well as their manager, David Kinas, for hiding or misrepresenting the underlying mortgages for homes they were selling, ultimately trapping consumers into mortgages they never bargained for, according to a Thursday news release.

“David Kinas and his real estate companies sold the promise of home ownership with rent-to-own property sales to Arizona consumers, but the home-buyers instead received homes weighed down with the sellers’ own undisclosed mortgage debts,” Attorney General Kris Mayes said in the statement.

Arizona Attorney General Kris Mayes, seen here during her ceremonial inauguration Jan. 5, 2023, said David Kinas and his companies decided Arizona consumers, selling them properties with undisclosed mortgage debts.

According to the lawsuit, Kinas had also failed to pay some of the underlying mortgages, even having his companies foreclose on homes after they had already been sold to consumers.

In a breakdown of Kinas’ handling, the attorney general’s office said that consumers were sold homes through a rent-to-own arrangement with owner-provided financing or seller carry-back financing. Kinas’ companies would act as both the seller and the lender, rather than as a bank or other mortgage lender.

Furthermore, consumers weren’t given clear title to

Celebrating Excellence, One of Houston’s Top Black Broker/Owner and INC 5000 Recipient, Jemila Winsey Named RIMedia 2023 Real Estate Newsmaker

04/03/2023dansa

Jemila Winsey joins an exclusive group of industry leaders who have made newsworthy contributions to the real estate industry.

ERA Legacy Living is pleased to announce that Jemila Winsey, CEO/CO-Founder has been selected as an RIMedia 2023 Real Estate Newsmaker—a dynamic group of key influencers making headlines as a result of their newsworthy contributions to the real estate industry and their efforts to positively affect the consumers and communities they serve.

The article begins with a quote from the editor: “Started from the bottom” is a concept so overused that it has become almost meaningless, but that self-made woman moniker couldn’t be more true when applied to Jemila Winsey”….Read the entire article in the RIMedia Publication.

RIMedia, the leader in US real estate news and information services, announced its more than 300, 2023 Real Estate Newsmakers on Feb. 1, in both an online directory on RISMedia.com and in the February issue of its flagship publication, Real Estate magazine.

RISMedia’s 2023 Real Estate Newsmakers were nominated in 2022 by RISMedia readers and editors and are showcased in the following categories: Influencers, Trailblazers, Futurists, Achievers, Crusaders and Luminaries.

“It’s always so inspiring to see the incredible accomplishments of so many real estate

Lethbridge commercial real estate market bump expected in 2023: Report – Lethbridge

23/02/2023dansa

The makeup of Lethbridge’s downtown business community is constantly shifting.

“We see businesses go, but we also see a lot of new businesses come in,” said Sarah Amies, executive director of the Downtown Lethbridge Business Revitalization Zone (BRZ.)

“Folks relocate from other areas and come in to the downtown because they enjoy the vibe down here.”

There could soon be some new movement across the city.

An Avison Young report shows the local commercial real estate market is in a “holding pattern,” but that’s expected to change.

With new developments ongoing or close to completion, Avison Young’s managing director of its Lethbridge office, Doug Mereska, is optimistic.

Southern Alberta businesses dealing with inflation, possible recession entering 2023

Edmonton real estate market predicted to slow down to pre-pandemic levels this year

24/01/2023dansa

The Realtors Association of Edmonton is predicting the market will “normalize” this year to levels not seen since before the pandemic.

Sales, listings, and prices are expected to drop across all property types, Melanie Boles, RAE chair said, which will bring them in line with 2019 levels and previous years.

“When compared to long-term trends, 2023 will still be a strong year,” Boles said in a statement.

The association held its annual housing forecast event Wednesday, where real estate agents and prospective home buyers and sellers can grasp market predictions.

According to the predictions for 2023, the market is expected to be balanced due to nearly equal supply and demand levels.

The report notes an increase in demand for apartments and condos, an increase in luxury real estate, and an influx of out-of-province residents.

The forecast shows detached home prices are expected to drop 2.9 per cent year-over-year.

Semi-detached homes are predicted to see a price drop of 2.4 per cent and for row and townhouses – a 1.4 per cent decrease is expected

The RAE is predicting a 1.1 per cent decrease in average price for apartments and condos compared to last year.

Boles said that compared to long-term

Missing DC real estate exec Ana Walshe owned multiple properties worth at least $1.88 million

21/01/2023dansa

A search of property records reveals that Ana Walshe had a valuable real estate portfolio and that she sold one property shortly before she disappeared.

Walshe owned at least four residential properties, according to publicly available property assessment records and tax records in Massachusetts, Maryland and Washington, DC, where she worked for a real estate firm. Her husband, Brian Walshe, is not listed as owner or co-owner of any of the properties.

Those properties include two apartments in Lynn, Massachusetts, a rowhouse in Baltimore, and a 2,500-square-foot home in DC.

At the time of her disappearance, Ana Walshe, whose husband was charged with her murder and in jail without bail, had a real estate portfolio worth nearly $2 million, according to CNN’s analysis of publicly available documents.

Ana Walshe sold at least two properties since March 2022, including one just days before her disappearance.

In March, she sold a home in Cohasset, Massachusetts, for nearly $1.4 million and purchased a home in DC for $1.3 million.

Since 2018, she sold at least four properties worth

2023 Edmonton real estate forecast released

19/01/2023dansa

The value of an average detached house in Alberta’s capital is expected to drop by roughly three per cent in 2023, as rising interest rates and the cost of living drive buyers to seek more affordable options.

That’s the big-picture forecast from the Realtors Association of Edmonton, which revealed new numbers Wednesday to a packed ballroom of real estate agents at the Edmonton Convention Centre.

After the average price of a detached home in the city hit an all-time high of $510,000 in April 2022, the market started to slow as mortgage rates, grocery prices and utility rates rose.

“We saw a lot of crazy things happen during the pandemic that I think were completely unexpected,” explained association chair Melanie Boles.

“All of a sudden we had people working from home, homeschooling kids, there was no travel, there was no sports. So, I mean, they were all of a sudden saving money, staying home and they needed more space.”

That drove the prices up for houses with lots of space, Boles said.

It also led to the increase of realtors in the city. Boles said there are now 4,400 association members, another record high. She said a fall in sales

How to say 2023 housing look for Utah? Not as good as 2024.

15/01/2023dansa

It’s just two weeks into 2023, and Utah real estate agents are already being told to look to 2024 for things to improve.

Hundreds of them broke into a slow nervous laugh Friday when one of the state’s top housing economists offered them advice after delivering a series of forecasts of more interest rate hikes, falling home sales and other bleach markers this year.

“Just hang in there,” Jim Wood of the University of Utah’s Kem C. Gardner Policy Institute told them as they gathered for an annual look into their crystal ball. “2024 will be better.”

Historically wild swings in housing markets that started with the COVID-19 pandemic and have since wrought havoc in tandem with the state’s long-standing housing shortage still have a few quarters to go, Wood and other economists added — at least.

Here’s some of what they say to expect:

• Utah probably won’t see a recession, though the big job gains it has been enjoying will likely slow down.

• Home prices are dropping relative to their big run-up since 2020 — and nearly a decade before that, for that matter — and they’ll probably keep ticking downward well into this year. But sustained