Wednesday, January 11, 2012

New Telluride Colorado Real Estate Resource Now Online

A new Telluride, Colorado real estate website from leading area brokerage Village Real Estate, LLC has just gone online. The new site offers a wide array of features for homebuyers and sellers looking for in-depth, up-to-date information on the real estate market in the region.

Telluride, Colorado (PRWEB) January 10, 2012

Village Real Estate, LLC, one of the most prominentTelluride, Colorado real estate brokerages, recently announced the launch of their new website, TellurideVillageRealEstate.com. A new resource for homebuyers and sellers in the area, the site serves as a window into the diverse and dynamic real estate market of the Telluride region.

“We built our site because we wanted to provide online users with a reliable and easily accessible guide to the Telluride and Mountain Village real estate market,” says Jean Vatter, Village Real Estate’s managing broker. “Most homebuyers get their information from the internet these days, but we all know that not everything we find online is accurate or up-to-date—and when you’re dealing with something as important as a real estate sale or purchase, you definitely want to have access to information you can trust.”

“Through our new site, we hope that anyone interested in properties in the area—whether it’s a ski-in/ski-out condo, a golf course home or fractional real estate—will gain a better understanding of what’s available here,” adds Janice Gerona, another member of the five-broker team that is Village Real Estate. “We have a particular expertise in Fairmont Heritage Place, Colorado real estate and we can tell you more about the various real estate and lifestyle options in The Fairmont Heritage Place, Franz Klammer Lodge.”

The team’s new site not only boasts extensive information about Franz Klammer Lodge, it also has a fully customizable property search tool, detailed listings of their own featured properties, real estate news updates and more. It also offers access to their monthly newsletter, which provides insights on the region’s real estate market and what life is like in Mountain Village and Telluride.

For more information on currently available properties and to learn more about the services of Village Real Estate, LLC, visit their site at TellurideVillageRealEstate.com or schedule a consultation with the team today.

Memphis Real Estate Firm Proves Success Possible in Slow Market

New paradigm in real estate investment industry grows investor portfolios while growing local economy

MEMPHIS, Tenn., Jan. 9, 2012 /PRNewswire via COMTEX/ -- Memphis Invest, a leader in the burgeoning turn-key real estate investment industry, announced today that it more than doubled its business last year with a 60-percent increase in home sales on behalf of its investors during 2011 compared to 2010.

The company also saw a 48-percent increase to its client base, and as a result of this growth, Memphis Invest has seen an increase in revenue of more than 90 percent year over year. While the housing market continues to struggle toward a full rebound, real estate firms like Memphis Invest are thriving by helping investors worldwide capitalize on the availability of low-cost homes combined with a growing demand for rental property.

Turn-key real estate companies such as Memphis Invest purchase, renovate and manage properties for investors who are interested in long-term revenue options, but also need a partner to operate and manage the properties on their behalf, particularly since many investor-owners do not live in the same city as their investment property. As faith in traditional investment options like the stock market wanes, this increasingly popular model for real estate investment, also referred to as passive real estate investing, has become an attractive alternative for those who have capital and want to own specific residential property but lack the time, experience or means to manage it. Memphis Invest's business model helps customers manage risk while preserving their capital.

"With nearly half of the Memphis population renting, Memphis has become a stable and lucrative market for real estate investors seeking to build their portfolios," said Chris Clothier, a partner with Memphis Invest. "Investors are looking for hard assets that provide safe, long-term opportunities in a time of economic uncertainty. Despite the recent real estate bust as part of the Great Recession, residential real estate remains a proven investment strategy."

The family-owned business not only grew its internal property rehabilitation and property management services staff by more than 30 percent last year, but its business model also enabled it to employ 47 other area companies that provide nearly 500 jobs to the region.

In November, Memphis Invest announced expansion into the Dallas market in response to growing investor demand and the attractive Texas market. The company plans to begin actively marketing and selling Dallas properties by the second quarter.

"The opportunity is there for us as a relatively young industry to fill a need in our national economy as more and more individuals look to rent and distressed and low-cost homes are available for purchase. Investors are looking for safe investments, and they are begging for great communication and customer service. We're simply connecting the dots to provide investors what they are looking for, and so far, it's a business model that has proven successful for us," said Clothier.

In 2011, Memphis Invest spearheaded the creation of a peer group for similar real estate investment companies, spanning from regions such as California, Florida and New York, that meet several times a year to define best practices for the green turn-key real estate industry. Clothier will lead the next meeting of the group, known as REI Edge Masterminds, in Jacksonville, Fla. this week from Jan. 12-13.

About Memphis InvestMemphis Invest provides turn-key real estate investment services to domestic and international clients looking to include residential real estate ownership in their investment portfolios. Founded in 2004, the company engages a professional network of portfolio managers, experienced contractors, appraisers and lenders to streamline the investment process for individuals looking to build their real estate investment portfolio without the burden of day-to-day property management. A privately held, family-owned business based in Memphis, Tenn., the company is led by two generations of employees committed to providing a personal level of customer service along with property identification and management solutions to their clients.

For more information about Memphis Invest, visit www.memphisinvest.com or call 1-877-773-9998.

SOURCE Memphis Invest

REAL ESTATE: More distribution activity likely in 2012

The industrial real estate market turned a corner in 2011 in Inland Southern California, and there are strong signals the arrows are still pointing northward in the area’s eastern tier, thanks to renewed economic activity and a shortage of available space.

The latter part of that equation almost sounds like an echo from five years ago. There is not much available space to build a big-box distribution center near Ontario international Airport, considered the best location for a logistics facility, and there are few vacancies among existing buildings.

That means that developers are going to look east, much like they did around 2004 and 2005, when massive distribution centers were built in places such as Perris, Moreno Valley, San Bernardino and Riverside, developers say.

An end-of year report from commercial real estate company Lee & Associates found a 7.5 percent vacancy rate for industrial properties in the I-215 corridor, mostly in Riverside, Moreno Valley, Perris and surrounding areas. The vacancy rate had been more than 8 percent since 2006.

That means that 2012 could be a year to watch. If developers perceive there’s a demand for space, they could be ready to build new properties.

Three distribution centers near the city line that separates Moreno Valley and Perris are currently under construction and close to being completed. All are larger than 600,000 square feet, and all three are being built on spec, meaning they don’t have tenants yet.

“Those three big ones are like the canaries in the coal mine,” said Rick John, senior vice president of Daum Commercial Real Estate’s Ontario office. “We’re going to be watching those, and if all three are leased it’ll spring some new construction.”

Warehouse development has some detractors because it increases truck traffic, but it is probably the strongest segment of the job market in Riverside and San Bernardino counties. About 5,500 jobs related to the movement of goods were added in the last 12 months, and the growth rate of close to 5 percent is almost three times as much as the growth in all jobs, according to state data.

John Bower, the executive vice president in charge of the Inland offices of NAI Capital, said the prime locations near Ontario “are pretty well picked over.”

That means developers have no choice but to look east, and not only for the large distribution centers. Some investors are looking at facilities under 150,000 square feet, Bower said.

“We’re starting to get the next generation of developers wanting to replenish the supply in the mid-tier as well,” Bower said.

Bruce Springer, a Lee & Associates senior vice president, said it was unlikely the scenario that led to the construction of Skechers’ massive warehouse in Moreno Valley would repeat itself because that was an unusual situation. Developer Highland Fairview had Skechers lined up as its tenant early in the process. The three warehouses being built don’t have that luxury.

Also, Springer said, the market is still in the process of absorbing lender-owned properties that were given up in foreclosure proceedings, a reminder that the recession is still visible in the Inland area’s rear-view mirror.

“We’re still absorbing REOs, and that concerns me,” Springer said. “There are some great deals to be had. Unfortunately, there’s still blood coming out of the turnip.”

Real Estate Equities Management LLC Increases Rentals with Yardi Call Center

Leases jump 117%, aided by 24/7 coverage by real estate service professionals

SANTA BARBARA, Calif., Jan 09, 2012 (BUSINESS WIRE) -- Residential real estate firm Real Estate Equities Management LLC reported that Yardi Call Center(TM) was instrumental in driving a substantial increase in new leases over an eight-month period in 2011.

From April through November 2011, Real Estate Equities Management's total leads for 31 properties increased by 181% and net leases (after denials and cancellations) by 117% over the same period in 2010. The company also received 179% more calls, 152% more walk-ins, 190% more email inquiries and 122% more applications. "We attribute this performance to more accurate lead recording and around-the-clock coverage that Call Center provides, along with improving market conditions," said Garin Hamburger, director of marketing for Real Estate Equities Management, which adopted Yardi Call Center in April 2011.

He added, "Our previous call center support only worked during business hours. We knew we were missing leads and opportunities to capture leases. We saw Call Center as an opportunity to increase occupancy and save money through reduced staffing requirements. Call Center's 24-hour maintenance service also adds an attractive amenity to our properties' offerings."

Yardi Call Center connects property management companies' prospects with trained real estate service professionals, day or night. This ensures that all leads are captured and acted upon, increasing leasing opportunities and promoting maximum occupancy. Guest cards and applications are entered directly into the Yardi Voyager(TM) property management system. Residents can also receive live assistance for rent payments, maintenance requests and other functions. Because Yardi Call Center agents work securely inside Yardi Voyager, they become an extension of the company's management office, with no need for data interfaces.

"We designed Call Center to be invisible to prospects and transparent to multifamily property managers. Our agents' thorough understanding of properties' key selling points allows them to provide immediate expert service and quickly turn prospects into residents," said Terri Dowen, senior vice president of sales for Yardi.

About Real Estate Equities Management LLC

Real Estate Equities Management, based in St. Paul, Minn., is a real estate firm with more than 30 years of experience in multi-family housing, townhome, senior cooperative, vacation home and fractional ownership development and management. In addition to developing, owning and operating numerous unique housing projects in the Twin Cities and other regional markets, Real Estate Equities Management owns several fractional luxury homes in markets such as Paris, New York, and the Turks and Caicos. The company's complete range of capabilities includes asset management, occupancy management, accounting, facilities maintenance, development/construction services, marketing and home rental services. For more information, visit www.reeliving.com .

About Yardi

Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for nearly 30 years. With its Yardi Multifamily Suite(TM), Yardi Commercial Suite(TM) and Yardi Investment Suite(TM), the Yardi Voyager(TM) system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com .

SOURCE: Yardi Systems Inc.


        
        Yardi Systems Inc. Joel Nelson 
x1255 
        Joel.Nelson@800-866-1144
 yardi.com

UBS's Chen Sees Opportunity in China Real Estate Stocks

Jan. 10 (Bloomberg) -- Chen Li, head of China equity strategy at UBS AG, talks about the nation's stock and real estate markets. He spoke yesterday in Shanghai with Bloomberg Television's Stephen Engle. (Source: Bloomberg)

Group Boston Real Estate's Michael Carucci Brokers the Sale of 4 Marlborough Street for $4,405,000

GBRE Represents Both Buyer and Seller in This Transaction

BOSTON, Jan 10, 2012 (GlobeNewswire via COMTEX) -- Group Boston Real Estate (GBRE), Boston's premier real estate agency for luxury properties, residential and commercial sales, including investment properties, today announced that GBRE's Michael Carucci brokered the sale of 4 Marlborough Street in the Back Bay, for a purchase price $4,405,000.00

Michael Carucci worked with both the sellers - William Day Hicks and Anne Louise Hicks -- and the buyer, Marlborough Manor Realty Trust.

The 9,750 square foot property, located on a premier block in the Back Bay, features seven units and three parking spaces.

"We had this property listed and sold within 30 days to a well-qualified buyer," said Mr. Hicks. "Michael Carucci lived up to his impeccable reputation by handling this transaction in a seamless fashion from start to finish."

"It was a pleasure working with the Hicks family and Marlborough Manor Realty Trust, and we're all pleased with not only the outcome, but also the smooth process that led to the completion of the deal," said Michael Carucci of Group Boston Real Estate.

About Group Boston Real Estate:

Group Boston Real Estate is one of the most trusted names in real estate throughout the Greater Boston area, located at 53 Hereford Street for 27 years. More information on Group Boston Real Estate is available at: http://www.groupbostonrealestate.com/ , or call us @617-262-1900.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Group Boston Real Estate

CONTACT: Ally Forbes
        Group Boston Real Estate
        617-262-1900 ext. 101
        ally@groupbostonrealestate.com

December Real Estate Data Show Positive Signs

December 2011 statistics released by theNorthwest Multiple Listing Service offer positive signs for a gradual rebound of the housing market. Many factors have contributed to the positive outlook expressed by many industry leaders.

Even with the all-time low interest rates, buyers have been skeptical about venturing into the market. However, many areas are not only seeing an upsurge in sales, but also multiple offers in some price ranges. This is likely due to a mix of new laws that help homeowners delay or prevent foreclosure, new financing options, faster acceptance by many lenders on offers on short sales, hiring by companies such as Boeing, and shrinking inventory.

However, the overall sales price is down 11.8 percent and distressed properties still account for one third of the sales.

O.B. Jacobi, president of Windermere Real Estate, stated in an article of the Northwest Reporter that he believes the market has undergone a shift.

"Where we've been during the past year is a place of transition. It has been a slow recovery, but the housing market has finally turned a corner, albeit a soft one with some bumps along the way," he said.

While December statistics offer hope for a transition into a better market, we are still facing an uphill battle in a volatile economy. Only time will tell if the decrease in inventory is the result of sellers waiting until after the holidays to list their homes or if sellers are frustrated by the decrease in home values and deciding to wait. The volume of distressed properties must decrease to stop the downward flow of property values.

According to the Northwest Multiple Listing Service figures for King, Pierce and Snohomish Counties, there has been an overall 20 percent increase in pending sales. Last month's pending volume exceeded the number of new listings (4,604) for the second consecutive month. The last time such an imbalance occurred was November 2006.

Closed sales also outgained year-ago totals. December's completed transactions were up 7 percent from twelve months ago, rising from 4,430 closings to 4,741.

King County saw new listings for the month of December fall from 1,891 in 2010 to 1,552 in 2011. Total year new listings dropped 7,000 from 45,182 to 36,198. Pending sales were up 8 percent over the year. Closed sales were up 10 percent but prices fell 9 percent.

New construction starts in 2011 dipped 1,000 below 2010 numbers with an average listing price decreased 9.5 percent.

On the Eastside, inventory fell 24 percent. Pending sales are up 8 percent and closed sales are up 12 percent from last year’s figures. Market time decreased by 10 percent to 95 days. The median list price fell 4 percent but closed sale price dipped an additional 7 percent. Condominiums followed a close pattern.

This all bodes well for the housing market, but only a continuation of these results will bring certainty to the market. Statistics are released on a monthly schedule. In the coming months we can chart those statistics and hopefully see a consistent gradual improvement.

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Joan Probala is the managing broker for Issaquah Windermere and has 30 years of experience in real estate, construction and sales. She is president-elect (2012) of the Seattle King County Association of Realtors.

Real Estate Technology Innovator Austin Allison Named To Forbes 30 Under 30 and Inman News Top 100 Most Influential

Allison Joins Panel at Inman Connect to speak on converting leads to clients

CINCINNATI, Jan. 10, 2012 /PRNewswire via COMTEX/ -- After recently being named one of the top 100 most influential people in real estate by Inman News, DotLoop President and CEO Austin Allison was named to the Forbes inaugural 30 under 30 list of 2012. Coming off of this accomplished December, Allison has been asked to speak at the Inman Real Estate Connect Conference in New York City later this week where he will share his insight on how to convert leads into clients.

On Sunday, December 17th, Inman News released their annual report of the top 100 most influential people in real estate. The Inman 100 report is a list of the most influential real estate leaders and recognizes those who embody leadership, ingenuity, strength, conviction, power, persistence, perseverance and progress. The list includes the industry's brain trust, power brokers and deal makers and those outside the industry who impact the business of buying and selling homes. Allison was named to the technology category for leading DotLoop to become the fastest-growing software as a service company in the industry, acquiring international enterprise wide partnerships with real estate franchises and adoption by nearly 120,000 paying users and 2,000,000 nonpaying users .

Two days later, Forbes announced the inaugural list of 30 disrupters under 30, representing entrepreneurs in 12 verticals including Energy, Media, Technology, Finance and Real Estate that aren't waiting to reinvent the world. Allison joined the list with Eric Trump of The Trump Organization, Daniel Ek of Spotify, Stuart Anderson of Twitter, Kevin Systrom of Instagram, David Karp of Tumblr and Mark Zuckerberg of Facebook.

"To be a part of Forbes 30 Under 30 and Inman News Top 100 is an honor and testament to what we've accomplished. However any great leader knows that he or she is only as strong as the team's weakest link. Our concept fills a big gap in the marketplace and we have been fortunate to attract such an amazing group of 'Loopers.' This award is a result of our mutual success," said Allison.

The Inman Real Estate Connect Conference panel will be led by Gahlord Dewald, a columnist at Inman News and President of ThoughtFaucet. Aside from Allison, other panelists include leading innovators Grier Allen, President and CEO at BoomTown LLC, and Frederick Townes, Co-founder of Placester and CTO of Mashable.

Allison will dissect the art of converting leads to sales and the myth that more leads does not equal more sales. He will also discuss how to avoid the pitfalls associated with too much emphasis on lead generation and how to leverage the right solutions to close more business. "The topic of leads to clients is ideal in an industry driven by client referrals and consumer satisfaction," stated Allison.

Allison spoke at last year's Inman Real Estate Connect Conference in San Francisco on the topic of the "CRM-Marry-Go-Round."

The Inman Real Estate Connect Conference will be held from Wednesday, January 11 through Friday, January 13 in New York City. For more information about the conference, please visit http://realestateconnect.com/nyc12/ .

About DotLoop

Headquartered in Cincinnati, Ohio, DotLoop is driving a movement in the real estate industry by providing a transaction hub where people work together to get deals done. As the leading provider of collaborative negotiation services, DotLoop is available to service all real estate professionals throughout the United States and Canada. The innovative DotLoop platform is a collaborative, wholly web-based negotiation platform that lets users add, adjust, approve, and sign documents digitally - addressing the challenges of consumer satisfaction, efficiency, and overhead costs in today's real estate industry. This is a real estate movement that the press has called "revolutionomics." For more information, please visit www.dotloop.com .

SOURCE DotLoop

4 Best Real Estate Moves

(Shutterstock.com)

(MoneyWatch)

Ever since the housing market collapsed five years ago, buyers, sellers and investors have been climbing their way out of the rubble. Things have improved a little, but it's clear we're not there yet.

Housing market predictions for 2012

Real estate trends: College town real estate

Your 2012 winter home maintenance checklist

Even so, there are signs of hope. Existing home sales are up by a large margin compared with the close of 2010. And for those with the cash, credit, and determination, there has never been a better time to buy a home or apply for a mortgage or refinance.

Mortgage interest rates are at all-time lows, hovering at or under 4 percent for a 30-year fixed loan. Last Thursday, Freddie Mac reported that mortgage interest rates matched the all-time low.

With some careful planning, a little research and a lot of persistence, you can avoid housing market misery in 2012, and come out on top.

Here are four best real estate moves you'll want to make this year:

1. Surround yourself with experts

No matter your goal - a first home, a refinance, reverse mortgage or the purchase of an investment property - you will need a little help from qualified professionals who can help you navigate the rough real estate waters.

Having a good experience starts with hiring someone who has been around this block many times before. So find yourself a very experienced real estate agent who can list your property or help you find the right new home.

But you'll also need to secure the services of trusted experts who can help you seal the deal. Look for a great mortgage lender, real estate attorney (especially if you're buying a foreclosure or short sale or are selling in a short situation), home inspector and tax advisor (for real estate investors).

Putting together the right team can go a long way toward helping you make sound real estate decisions in the coming year.

2. Know your credit score

As I suggested above, even those with a healthy credit profile can find securing a loan challenging in 2012. The wild days of mortgage lending, where everyone with a pulse got a loan, are over. Lenders are extremely (and perhaps overly) cautious, and your credit score has become a more important tool than ever in deciding upon interest rates and terms.

Start by going online to AnnualCreditReport.com, which is the only site operated by the three credit reporting bureaus (Experian, Equifax, and TransUnion). There, you can get a free copy of your credit report from each of the three credit reporting agencies, as required under federal law. For an extra $9 or so, you can purchase a copy of your credit report.

Or, you can visit a number of websites that will provide a free or low-cost copy of your credit history and score. If you don't like what your credit history or score looks like, you can make the decision to simply put off buying or refinancing and instead work on fixing your credit.

The key thing is to know where you stand before you negotiate.

3. Manage your credit for the long haul

In today's mortgage market, a credit score of 780 or above is considered optimal. But you should be able to get a mortgage if you have at least a 720 credit score.

If you're not there yet, there are certainly a number of steps you can take. Obviously paying your bills on time and in full is a key part of the process, but you should also act now to correct any errors on your report. If you don't have any errors on your credit report, you'll want to work to pay down existing debt as quickly as possible and make sure you don't have too many open lines of credit. (For some suggestions on how to fix your credit history, check out some of my posts on theEquifax Finance Blog.

4. Not all loans are created equal

It may be tempting to sign on the dotted line of the first lender who grants an approval, but don't. Consider that in many cases, a mortgage is going to be a 15 or 30-year commitment, and make sure you're comfortable with the terms for the long haul.

I suggest you talk to at least four or five lenders before making your decision. In addition, vary the type of creditors you're researching: A major bank, a local lender, a credit union, a mortgage broker and online options. Each of these will offer a variety of different loan programs, at different price points.

In 2012, if you want to make the best real estate moves, you'll have to arm yourself with information. In order to negotiate and secure the best deal, it is important to know what the competition will offer.

Real Estate Blog