Archive for  March 2015

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Metlife Inc. one of the largest insurance providers in the United States, signed a 12-year lease for 335,000 square feet in the MetLife office building at 200 Park Ave. in New York City. MetLife currently occupies 110,000 square feet in the building, and is leasing space currently occupied by Barclays Capital encompassing the third through fifth floors there. MetLife is in the process of consolidating its employees from four nearby properties,…

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Los Angeles, Seattle, Richmond, Orange County, Philadelphia, San Antonio, New York City, San Francisco, Houston, and Denver. LOS ANGELES NAI Capital Taps Foutz as New CEO By Mary Vinal NAI Capital, Inc. has named Timothy P. Fout

OnDeck Capital Inc. expanded its headquarters space at 1400 Broadway in New York City by 79,000 square feet. The small business lender will grow from 38,000 square feet to a total occupancy of 117,000 square feet in the Empire State Realty Trust-owned building. The 38-story, 908,237-square-foot, 4-Star office tower was built in 1930 in the Penn Plaza / Garment District submarket of Manhattan, at the northeast corner of W. 38th Street. Keith…

With real estate investing, you can either be incredibly successful, or you can lose it all. Yes, location, location, location is hugely important, but so who you are dealing with is even more important. However, the world of real estate is filled with shady characters. Consider those late night advertisements on television, where realtors promise to make you a millionaire, for instance.

You should never invest in real estate before having a few affairs in order. You cannot get started without knowing you have the necessary investment capital. Also, you need to learn about the real estate market and you need to get to know a certain neighborhood.

You also have to make sure that you don’t take too many risks. There is no such thing as risk-free real estate, but some risks are too high to take. Avoid tenant-in-common, real estate development, fixer uppers and private real estate funds for instance. Indeed, with these options, so much can go wrong that you are likely to never see a return on your investment. A much better idea is to title interesting properties to yourself. These decisions should be made based on research and analysis, as well as due diligence. Do not pick properties that will be highly time-consuming through managing them for instance. If at all possible, avoid properties in bad areas, college homes and vacation rentals for instance. Try to find a property that someone with a good credit profile will want to rent for a long period of time. Naturally, this means you also have to be committed to being a respectful and good landlord. All properties will have some sort of issue at some point, but this should be manageable so long as you deal with them quickly.

For those who don’t have a lot of money to put down on a property, it will generally be a lot easier to still get started in it if they are younger. This is because banks usually want at least 20% as a down payment before agreeing on a mortgage. That kind of deposit can be too expensive for many people, particularly if the property itself will need some repairs as well. However, if you are a bit younger, banks may be slightly more understanding. Real estate investing does involve a lot of other things as well. Of course, one place to start is actually finding a property. However, even this requires a whole lot of research and analyzing. You also need to work with a good realtor to represent your needs. Thanks to their help, you should be able to find properties of interest. Once you have found a property, you will need to go through the process of actually becoming a landlord, which also takes a lot of training and research. Do remember that it is time worth spending.

When it comes to buying or selling a property, you should always work together with a good realtor. You may have a friend or relative who works in real estate, but before you automatically turn to them, you will need to think whether they truly are the best for you. Let’s take a look at the two most important things you need to know about when you choose a realtor.

You should always ask others for recommendations. However, do make sure you look deeper as well. Make sure you do your research therefore. Your realtor should also be experienced in your needs. If you want to purchase a condo, there is no point going to someone that specializes in luxury mansions. Always take the time to actually speak in person to a realtor you may choose. Ask anything that is relevant, such as how they will represent you, what they can do for your, what experience they have, how much they cost and so on. Also discuss your expectations with your realtor. It is important that they understand your needs. Last but not least, make sure that your realtor is someone you like. You cannot trust someone you don’t like, after all. Last but not least, try to work with the realtor with the most experience. It is nice to help people who are just starting, but considering the thousands of dollars involved in realty, you want someone who is able to handle that properly.

You must also avoid a few things. Don’t work with someone with whom you are friends or to whom you are related. This would represent a huge conflict of interest and it could also mean that you struggle to be honest with each other. Furthermore, if you find that the result is not entirely to your satisfaction, you could place your relationship in jeopardy. Don’t work with a realtor who has dual responsibility, meaning they represent both you and the other party. Also, if things don’t go the way you want them to, then don’t be afraid to go elsewhere. Of course, do make sure you do this respectfully. Don’t tell your realtors that you will definitely sign up with them unless you actually intend to do so. You need to be honest with them and tell them at which stage you are. After all, you expect honesty from your realtor as well.

It is hoped that you can use the above information to find the right realtor for your needs. A realtor’s job is to help you find your dream home. Make sure, therefore, you pick someone that you can trust in that job.

In all likelihood, your home is your biggest asset. Hence, if you want to sell this asset, you have some important decisions to make. Spend some time looking into the process of selling properties first. Luckily, you can spend some time online and find all the information you need. By spending some time learning about the process, you will have more control over it, thereby reducing your stress levels and increasing the price you get for your home. Hopefully, the information presented below will help you to get ready for a sale and get a good price.

First things first and get to work on the outside of your property. This is what buyers will first see and what will give them their first impression. So, make sure your yard is clean and that your bushes and trees are pruned. Take a walk around your property yourself and see how much curb appeal it actually has. Luckily, you will generally not have to do anything other than a bit of cleaning and tidying.

Your motivation is yours and yours alone, so don’t go around telling potential buyers. If you tell what your motivation is, buyers could use it against you, particularly if they are working with a good realtor. If you do get asked what your motivation is, try to be obtuse about it. A great answer is to say that your needs have shifted to something else. It is a very vague answer that people can interpret any way they want. It has been shown psychologically that people will interpret these answers in a positive light that works for them. For instance, they might think you are able to afford something bigger and better now. Or they may think your kids have left the home and you are looking to downsize. Either way, people will always believe that you have a genuine reason for a sale that is not financially motivated.

The final thing is that you must be ready to start cleaning. Make sure every surface has been cleaned properly. This is the time to really get the elbow grease out and to get rid of clutter, which you need to do before you move anyway. You need to make your home not just presentable, but basically like a show home. As such, make sure you also focus on the exterior of your property. Get to work on cleaning your yard, geting rid of weeds, mowing your lawn and making sure that your trees and bushes are pruned and beautiful. It is your property’s exterior that will create that important first impression. And don’t forget that you only get one chance to make that first impression. Hopefully, these tips will help you to sell your property as quickly as possible for the best price.

Yes, interest rates for mortgages are still as low as they could possible get. Additionally, home prices are still low as well. However, don’t let this lead you into believing that any home purchase is a good one. The buyers currently hold all the cards. However, you must make sure that you make careful considerations before you buy. There are a some red flags that you need to be aware of that could tell you that a purchase may not be the best way forward. These problems are not always significant enough to tell you not to buy, but sometimes they are. Two things are of particular importance in terms of red flags.

First, inspect the neighborhood. Are there many homes for sale and many boarded up shops? Talk to your potential new neighbors and ask what the area is like. Have a look at how the land is shaped. If you notice that the yard is on a downwards slope towards the property, the foundations could be affected by rain water. You should also look into whether there are any weird smells in and out of the property. Bugs and insects are a bad sign as well. Ask community members of this, as everybody always knows when someone else has pests.

Then, you need to look into things that may have caused damage to the property that are very hard to fix. These things include water damage, pest damage, asbestos, mold and faulty wiring. But it often takes a professional eye to actually spot these problems. The current owners themselves may not be aware of the presence of these problems. And if they do, it is likely that they will try to keep them hidden. All that needs to be done in order to hide problems like this is a bit of cleaning and reducing power usage. To find out, you can arrange for a home inspection, but do also make sure you speak to members of the community. Unless they are selling themselves, they will generally be happy to tell you whether there have been problems in the past. Generally speaking, major problems like pests, water damage and mold will occur in more than one property.

At the end of the day, you should never purchase a property that you haven’t had inspected professionally. However, the hints and tips above should tell you whether or not it is worth investing in an inspection at all. If any problems are present, you can choose to walk away from the property, or you can request a huge discount on the purchase price so you can arrange the necessary repairs. Also, always trust the advice of home inspectors. Their goal is to make sure you get a good deal on a property.

It is certainly true that mortgage interest rates continue to be at an all time low. Also, home prices are perhaps on the rise, but remain very interesting. However, this does not mean that any home you come across would make a good investment. The market currently favors the buyer. However, you do have to exert due diligence before you buy. There are a some red flags that you need to be aware of that could tell you that a purchase may not be the best way forward. These problems are not always significant enough to tell you not to buy, but sometimes they are. There are two factors in particular to be aware of.

First of all, you must be wary of the “fixer upper.” These properties are listed as being incredibly cheap, which does make them attractive. Most of us think that the things that do need to get fixed up are things we can mostly do ourselves. However, you are likely to find that you will need to bring in qualified professionals to really do the work. Qualified professionals are incredibly expensive and you may not have sufficient budget for that. You should also be wary of properties that have had DIY fixes. Although a DIY job can look great on the surface, it is likely that it actually has a whole lot of problems.

The second key factor to look into is for you to figure out whether you are looking at a foreclosure or short sale property. Although it is true that these are the cheapest properties, they are also often in poor condition and in bad neighborhoods.

The bottom line is very simply that a home should never be bought unless a professional inspector has given you the green light. With the information above, you should be able to tell whether or not you might want to hire a professional inspector, or whether it is a clear no on the purchase. If the property does have problems, you can decide to walk away from it, or you can demand a substantial discount in order to pay for the repairs. Make sure you take home inspectors’ opinion on board too. They are there to make sure you don’t buy something that isn’t worth your while.

CBRE Capital Markets’ debt and structured finance team originated $95 million in acquisition funding for a portfolio of single-tenant office properties totaling 1.6 million square feet across four states. Charles Foschini, Christian Lee, and Christopher Apone with CBRE’s Miami, FL office arranged the loan on behalf of a private family interest in Brazil. Guggenheim Partners provided the 10-year loan, which carries a 30-year amortization, an aggressive…