Residential Real Estate News

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Rising waters are wreaking havoc on the Great Lakes’ real estate

Unusually high water levels and waves on the five Great Lakes are ravaging lakeside homes, infrastructure, and businesses. Some are literally washing away. Erosion on the shores of the Great Lakes has caused tens of millions of dollars in damage across states from Minnesota to New York, according to the Wall Street Journal. Water levels are linked to above-average rain and snowfall over the last several years caused by warmer temperatures. The U.S. Army Corp ... [more]

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Author: TRD Staff
Posted: February 23, 2020, 2:00 pm

Fredrik Eklund talks LA condos, the mega-luxury market and patience

“Million Dollar Listings” star broker and recent Los Angeles transplant Fredrik Eklund says condominiums are the new wave in his new West Coast home, where mansions in the hills have been the default in the luxury stratosphere. The Douglas Elliman broker told Mansion Global that new projects in L.A.’s tony neighborhoods like Beverly Hills are presenting new options for buyers. Eklund is selling units at the recently built 8899 Beverly building. “Vertical living didn’t used ... [more]

The post Fredrik Eklund talks LA condos, the mega-luxury market and patience appeared first on The Real Deal Miami.

Author: TRD Staff
Posted: February 22, 2020, 9:00 pm

These small US cities have exploding luxury markets

The shift from the nation’s top markets to secondary markets is accelerating. Coldwell Banker’s “State of Luxury 2020” report picked out several secondary markets to watch alongside some larger markets that still have room to grow, according to Inman. The top markets to watch are Boise, Idaho; Charlotte, North Carolina; Colorado Springs, Colorado; Cincinnati, Ohio; and Fort Worth, Texas. The list was based on an analysis of job and population growth against sales-price-to-list-price ratios, days ... [more]

The post These small US cities have exploding luxury markets appeared first on The Real Deal Miami.

Author: TRD Staff
Posted: February 22, 2020, 7:00 pm

The cheapest house in America’s richest town is listed for $2.5M

Atherton, California has topped Bloomberg’s Richest Places annual index for four years, but this year is unlike any other. And Atherton is unlike any other place in the country. The Silicon Valley town became the first and only community in the country where average annual household income topped half a million dollars — $525,000 to be exact — since the index started in 2017, according to Bloomberg. That’s nearly $75,000 higher than the second-richest community ... [more]

The post The cheapest house in America’s richest town is listed for $2.5M appeared first on The Real Deal Miami.

Author: TRD Staff
Posted: February 22, 2020, 5:00 pm

Coronavirus is wreaking havoc on China’s landlords

The devastating coronavirus outbreak in China is starting to take its toll on some of the country’s biggest landlords. Measures meant to curb the spread of the deadly virus have effectively put renting on pause in some parts of the country, while some short-term rental businesses are hurting without the seasonal bumps they banked on, according to Bloomberg. The outbreak is also affecting the housing market — year-over-year price growth was the slowest in January ... [more]

The post Coronavirus is wreaking havoc on China’s landlords appeared first on The Real Deal Miami.

Author: TRD Staff
Posted: February 22, 2020, 2:00 pm

Lead gen 2.0: RE/MAX app will go through agent contact lists to predict sellers

RE/MAX Holdings is taking its latest lead generation play to the robots. The company will launch a machine-learning app exclusive to its agents on Monday that uses machine-learning to comb through agents’ pre-existing contact lists and predict who is most likely to sell their home — and tells agents when they should reach out. RE/MAX announced the app on its fourth quarter earnings call Friday. “Agents are losing patience on just ‘buying leads,’” said RE/MAX ... [more]

The post Lead gen 2.0: RE/MAX app will go through agent contact lists to predict sellers appeared first on The Real Deal Miami.

Author: By Erin Hudson
Posted: February 21, 2020, 11:00 pm

Post-WeWork debacle, SoftBank will map out strategy to investors

SoftBank CEO Masayoshi Son will map out the company’s strategy at a New York investor meeting for the first time since WeWork’s implosion led to another huge investment in the co-working firm. Elliott Management Corp., among others, will be waiting. The activist investor called for a buyback of as much as $20 billion of the Japanese technology conglomerate’s shares, Bloomberg reported. But Son said there was “no rush,” and that he would like to sell ... [more]

The post Post-WeWork debacle, SoftBank will map out strategy to investors appeared first on The Real Deal Miami.

Author: TRD Staff
Posted: February 21, 2020, 10:30 pm

Amazon mulls buy of WeWork’s Lord & Taylor building

Amazon has been in talks to acquire the Lord & Taylor building, the iconic Fifth Avenue building owned by WeWork. The e-commerce giant has been negotiating a potential acquisition of the building, six industry insiders told The Real Deal. Two sources said the deal could be valued close to $1 billion. Talks remain fluid, and a deal still faces hurdles before it can materialize. WeWork did not respond to requests for comment. An Amazon spokesperson ... [more]

The post Amazon mulls buy of WeWork’s Lord & Taylor building appeared first on The Real Deal Miami.

Author: By David Jeans
Posted: February 21, 2020, 10:15 pm

Bob Zangrillo is out at Avra Jain’s Miami River project

Developer Bob Zangrillo, who is embroiled in the college admissions scandal, is no longer an investor in a mixed-use project planned for the Miami River. Zangrillo, a Silicon Valley investor who’s known in Miami for spearheading development of the $1 billion Magic City project in Little Haiti, has exited the Miami River project. Avra Jain and her partners, including Joe Del Vecchio, are developing the 555 Riverhouse project along with majority owner Zerby Interests out ... [more]

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Author: By Katherine Kallergis
Posted: February 21, 2020, 10:00 pm

Sapir Corp. CEO jumps to Property & Building Corp.

Sapir Corp.’s CEO Baruch Itzhak is leaving the Israeli company. Itzhak will resign effective May 20, according to a document filed with the Tel Aviv Stock Exchange. He is joining the Property & Building Corp. as CFO, he confirmed. PBC is one of the top real estate companies in Israel, according to its website. Its U.S. subsidiary — run by Eli Elefant — owns the iconic HSBC Tower at 452 Fifth Avenue in Manhattan. Itzhak ... [more]

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Author: By Katherine Kallergis
Posted: February 21, 2020, 8:30 pm