real estate news chicago Archives

TD Securities Lowers Dream Office Real Estate Investment Trust (TSE:D.UN) Price Target to C$15.00

06/07/2023dansa

Dream Office Real Estate Investment Trust (TSE:D.UN – Free Report) had its price target reduced by TD Securities from C$17.00 to C$15.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.

A number of other brokerages have also recently weighed in on D.UN. CIBC cut Dream Office Real Estate Investment Trust from an outperform rating to a neutral rating and dropped their price objective for the company from C$20.00 to C$17.50 in a research note on Thursday, April 13th. Cormark raised Dream Office Real Estate Investment Trust from a market performing rating to a buy rating and dropped their price objective for the company from C$20.50 to C$17.00 in a research note on Thursday, May 18th. National Bankshares raised Dream Office Real Estate Investment Trust from a sector performance rating to an outperform rating and dropped their price objective for the company from C$18.50 to C$16.00 in a research note on Tuesday, April 18th. Finally, Canaccord Genuity Group dropped their price objective on Dream Office Real Estate Investment Trust from C$16.00 to C$15.50 in a research note on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy

Brace for a Wave of Commercial Real-Estate Defaults

14/05/2023dansa

Billionaire investor Howard Marks sounded the alarm on the commercial real-estate sector.
The Oaktree Capital co-founder warned of mortgage defaults that could add stress to the US financial system.
“We’re very likely to see mortgage defaults in the headlines, and at a minimum, this may spook lenders,” Marks said.

Billionaire investor Howard Marks raises the alarm on commercial real estate in what he labels as “one of the biggest worries” US banks face today.

In a Monday memo, the Oaktree Capital Management co-founder warned of a wave of mortgage defaults that could add stress to the US banking sector.

“We’re very likely to see mortgage defaults in the headlines, and at a minimum, this may spook lenders, throw sand into the gears of the financing and refinancing processes, and further contribute to a sense of heightened risk,” Marks said.

“Developments along these lines certainly have the potential to add to whatever additional distress materializes in the months ahead,” he added.

The commercial real-estate market has become investors’ newest concern thanks to higher interest rates, tighter lending

Canada’s housing prices to keep climbing, says Royal LePage

09/05/2023dansa

Royal LePage is forecasting that the average price of a home in Canada will increase 4.5 per cent in the fourth quarter of 2023, compared to the same quarter in 2022. This revised forecast anticipates an earlier-than-expected boost in activity in major housing markets across Canada.

The projection is included in the real estate company’s house price survey released Thursday, which drew from national property data as well as statistics collected from 62 of Canada’s largest real estate markets.

“Coming out of a correction, it is common to underestimate the speed at which the market will turn itself around,” Phil Soper, president and CEO of Royal LePage, said in a press release. “As market activity is rebounding faster than anticipated, we are looking ahead with a sense of cautious optimism. While we do not expect huge price gains this year, some sense of normalcy is returning to the market.”

The average price of a home in Canada reached its peak in February 2022. Over the course of a year, the national average fell 18.9 per cent, according to the Canadian Real Estate Association. According to Soper, the housing market’s “inevitable correction” was triggered by the Bank of Canada’s aggressive interest

The UK Property Market is Now in Better Health Than Four Years Ago

29/04/2023dansa

There are various ways we can use to track how the UK property market is performing.

One of the most common ones is house prices and how they are rising or falling. Rising prices mean that the market is performing well, while falling prices are usually a cause for concern.

The Land Registry’s UK House Price Index reports that prices rose by 6.3% annually from January 2023, the latest data available. This shows that the market is still going strong as prices are higher than in 2022.

A second way we can determine the health of the housing market is through the number of sales being agreed upon and completed.

Right now, sales are 11% higher than in 2019 according to Zoopla, which means more houses are being sold than four years ago. This is a good sign that there is a high demand for housing, which is good for the overall housing market.

Another way in which we can see how the housing market is performing is the number of properties for sale on the market.

Zoopla’s data indicates that 65% more homes are available on the market than in 2022, while estate agents have an average of 25

Housing market downturn a top risk to Canada’s financial system, regulator says – National

24/04/2023dansa

A potential downturn in Canada’s housing market and adjusting to rapid increases in interest rates are among the biggest risks to Canada’s financial system this fiscal year, the country’s financial regulator said on Tuesday.

The Office of the Superintendent of Financial Institutions (OSFI) said it was ensuring that federally regulated financial institutions were alert to changing market conditions in its first annual risk outlook report for the year ending March 31, 2024.

“OSFI is preparing for the possibility, but not predicting, that the housing market will experience sustained weakness through 2023,” said Peter Routledge, Superintendent at OSFI.

The regulator also said the adjustment to higher interest rates “may not be completely smooth” and that it was intensifying monitoring of market liquidity.

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(Reporting by Maiya Keidan and Ismail Shakil)

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What Does the Spring 2023 Budget Mean for Property Investment?

07/04/2023dansa

Chancellor Hunt also revealed the government would deliver 12 “investment zones” across the UK – with the intention of creating new “potential Canary Wharfs.”

Regions like the West Midlands, Greater Manchester, and Liverpool were highlighted as potential candidates. The Chancellor stated that successful applicants must be able to identify a specific location where a partnership between local government and local universities/research institutes could provide valuable innovation.

Successful candidates will receive £80m in funding each over the next 5 years, further encouraging investment in these critical areas and strengthening their local economies. If all goes well, this could encourage many investors and homeowners to go beyond London property investment for their next purchase.

Additionally, the Chancellor promised to put further investment towards UK regeneration schemes.

From this year, the government will provide over £200m in funding to 16 high-quality local regeneration projects across the UK.

The report added the “left-behind places” cited in the government’s Leveling Up campaign and projects with costs under £10m would be specifically targeted to ensure a fast turnaround.

Again, this is excellent news for the property market.

Regeneration is a magnet for future growth and demand: resulting in amenities that improve the local area, which attracts

Bank Julius Baer & Co. Ltd Zurich Trims Stock Holdings in Alexandria Real Estate Equities, Inc. (NYSE:ARE)

06/04/2023dansa

Bank Julius Baer & Co. Ltd. Zurich lessened its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE – Get Rating) by 32.7% during the 4th quarter, according to the company’s most recent 13F filing with the SEC. The fund owned 3,060 shares of the real estate investment trust’s stock after selling 1,489 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Alexandria Real Estate Equities were worth $446,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in Alexandria Real Estate Equities by 29.2% in the third quarter. Canada Pension Plan Investment Board now owns 3,913,856 shares of the real estate investment trust’s stock valued at $548,683,000 after buying an additional 885,711 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Alexandria Real Estate Equities by 188.7% during the first quarter. Centersquare Investment Management LLC now owns 1,341,308 shares of the real estate investment trust’s stock worth $269,938,000 after purchasing an additional 876,725 shares during the last quarter. Victory Capital Management Inc. lifted its position in Alexandria Real Estate

1-bedroom downtown Toronto condo listed for $400,000

04/04/2023dansa

#GTAHomeHunt is a weekly series from the Star that gets into the details of real estate listings in Toronto and the Greater Toronto Area. Have a tip? Email us at [email protected]

Prices: $399,000

Neighborhoods: Kensington — Chinatown

X-factor: This one-bedroom condo apartment at 60 St. Patrick St. is on a quiet street downtown, steps away from the Art Gallery of Ontario and Grange Park.

Accessing the heart of Chinatown to the west or Eaton Center to the east will take less than 15 minutes on foot or by streetcar, and the St. Patrick subway station is just a five-minute walk away. Nearby, there are countless restaurants, cafes, shops and grocery options.

The building itself offers an outdoor pool, sauna and exercise room, according to the listing, and the condo fees are $600 per month.

According to realtor Othneil Litchmore, that’s not a bad price. What makes it even better is that, according to the listing, the fees also cover all utilities and cables.

“That’s a really good thing,” Litchmore said, adding that this kind of offer is typically only seen in older buildings.

Condo fees for a unit in a new building might cover only water, he explained.

Overall, the

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

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