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Dorota Dyman Associates Tips: Estate agents can win from blooming property market

Dorota Dyman Associates Tips: Estate agents can win from blooming property market | Dyman Real Estate | Scoop.it

Martin & Co was founded by Richard Martin in the 1980s, and the company adopted a franchise model so it could grow at a faster pace without recourse to the banks.

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House prices are rising, spring is in the air and the property market is blooming. Estate agency and lettings chain Martin & Co floated on the stock market in December and is ideally positioned to benefit from the new mood. At 129p, the shares offer robust, long-term value.

 

Martin & Co was founded by entrepreneur Richard Martin in the 1980s. Starting out in Yeovil, Somerset, the business did well and in 1996, the company adopted a franchise model so it could grow at a faster pace without recourse to the banks.

 

Under this structure, agents run their own businesses but have access to Martin & Co’s support and experience in areas such as IT, marketing, shopfitting and training. They also benefit from collective purchasing and in exchange, they give the company 9 per cent of their annual revenues.

 

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Dorota Dyman Associates Tips: 5 Ways You Should Be Screening Potential Landlords

Dorota Dyman Associates Tips: 5 Ways You Should Be Screening Potential Landlords | Dyman Real Estate | Scoop.it
The real estate rental market is fast paced, competitive and sometimes daunting. During the stress of finding a rental that fits your needs, you sometimes run into yet another brick wall: the landlord. Some landlords can be nosey people. Every corner your turn at an apartment viewing they’re racking off [...]
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The real estate rental market is fast paced, competitive and sometimes daunting. During the stress of finding a rental that fits your needs, you sometimes run into yet another brick wall: the landlord. Some landlords can be nosey people. Every corner your turn at an apartment viewing they’re racking off another list of things they need before you’re approved. But before you slip your social, you might want to do some research of your own. Here are five ways to screen your landlord or property manager before you sign a lease.

 

1. Find Foreclosures

 

According to the Wall Street Journal, it’s an entirely possible that your dream apartment is in the foreclosure process. Meaning, a landlord could try to rent an apartment he or she doesn’t even own. You could lose your deposit, and worse, your home.

 

Look into tax records and find out who actually owns the rental. Additionally, if you’re dealing with a property management company, research any recent foreclosures for their properties. If the company is underwater or filing for bankruptcy, your lease terms might be shorter than you think.

 

Read full article at http://www.forbes.com/sites/trulia/2014/04/11/5-ways-you-should-be-screening-potential-landlords/

 

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Dyman Real Estate: 8 Solutions to San Francisco’s Housing Problems

Dyman Real Estate: 8 Solutions to San Francisco’s Housing Problems | Dyman Real Estate | Scoop.it

It's a start

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On one of the first rainy days that drought-stricken California has had in months, San Francisco Mayor Ed Lee stood out of the rain in an unfinished retail space on the city’s gentrifying Market Street. Exposed pipes ran past naked plaster and cold concrete floors, but the drab backdrop had shining significance: above the retail space were nearly two dozen brand new, below-market rate apartments, the kind of housing the land-constrained, soaringly expensive city desperately needs—and that the mayor has vowed to provide.

 

Housing in San Francisco has become the most costly in the nation, spurring an affordability crisis that has pushed protesters into the street and low-income earners out of their homes. It has also inspired a flurry of activity at City Hall, where politicians have been churning out proposals aimed at fixing housing problems and easing the city’s simmering class tensions. Lee’s latest effort, announced at a press conference in the retail space on Thursday, calls for cutting red tape in the cumbersome review process for new projects and giving priority to proposals that include units for lower-income residents.

 

Other proposals have been more ambitious and far more controversial. Here’s a look at seven other plans for solving San Francisco’s housing crisis:

 

Build, build, build

 

One of the city’s biggest problems is that far more people now want to live here than can currently fit. In his “State of the City” address in January, Lee announced the ambitious goal of building or rehabilitating 30,000 new homes by 2020, the equivalent of 5,000 each year—and a massive increase from the rate that the city has been building. In 2011, a mere 260 units were completed in the City by the Bay. Lee has said he wants one-third of the new units to be “permanently affordable” to lower-income residents.

 

Make landlords pay for evictions

 

City Supervisor David Campos proposed a law on Feb. 4 that would require certain landlords evicting tenants from rent-controlled buildings to essentially subsidize the new, higher rents those people could be forced to pay. Landlords would have to pony up the difference between the controlled rents and whatever the going market rate for that apartment would be for the equivalent of two years. Unsurprisingly, developers and landlords have balked.

 

Incentivize developers

 

The issue of density has long been a lightning rod among city residents, and San Francisco places density limits on new building projects. But for developers, more apartments in a building generally means more income from that project. So, in an attempt to get developers focused on building affordable housing rather than luxury condominiums catering to new tech wealth, City Supervisor Scott Wiener has proposed that the city raise density limits for any project that is made up of at least 20% affordable housing units and completely eliminate density limits for any projects that are 100% affordable housing.

 

Legalize it

 

City leaders have also proposed legislation that would turn illegal “in-law” units into legitimate housing stock. These might be apartments that are actually converted garages, unglamorous but livable spaces that aren’t technically up to code. There are tens of thousands of such units in the city. “They house a lot of people. They tend to be much lower rent,” Wiener says. Legalizing them also causes uproar among NIMBY-types who don’t want buildings zoned as single-family homes suddenly becoming two-family homes.

 

Play Robinhood

 

Lee recently met with executives from the tech industry, many of whom supported his candidacy, and encouraged them to become much more engaged in local philanthropic causes. Anger from displaced residents has been aimed at many of those successful companies, which are drawing well-paid workers to town, who in turn give developers another reason to build those luxury condos. Some businesses are already making efforts to be seen as part of the housing solution rather than part of the problem: Twitter, which relocated its headquarters to the Mid-Market area after receiving a tax break from the city, has sent their legal staff to represent locals pro bono during eviction proceedings.

 

No more buyouts

 

Currently developers behind every new housing project in the city that has 10 or more units must price 12 percent of those units below market rate—or pay the city a fee to opt out. Peter Cohen, co-director at the Council of Community Housing Organizations, has suggested that the city eliminate the pay-not-to-play option, which developers may decide to use so that more apartments yield more rent in the long run, even if only the wealthy can afford them.

 

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Dyman Real Estate: Houston real estate market zooms into record territory

Dyman Real Estate: Houston real estate market zooms into record territory | Dyman Real Estate | Scoop.it

HOUSTON 2 The Houston real estate market ended 2013 as it began – in the fast lane. Surging home sales throughout greater Houston were largely driven by the addition of more than 86,000 jobs that drew buyers and renters from all around the country and world. December marked the 31st straight month of positive home sales and was a month in which prices again rose and housing inventory shrunk to new record lows.

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HOUSTON 2 The Houston real estate market ended 2013 as it began – in the fast lane. Surging home sales throughout greater Houston were largely driven by the addition of more than 86,000 jobs that drew buyers and renters from all around the country and world. December marked the 31st straight month of positive home sales and was a month in which prices again rose and housing inventory shrunk to new record lows.

 

According to the latest monthly data prepared by the Houston Association of Realtors, December single-family home sales increased 14.3 percent versus December 2012. Contracts closed on 5,813 homes, driving inventory down to 2.6 months supply, the lowest level of all time.

 

All housing segments saw gains in December except for the low end of the market – those homes priced at $80,000 and below. Homes priced from $250,000 and above registered the highest sales volume and accounted for another hike in prices.

 

“The Houston housing market had its best year on record in 2013, and those of us who work in real estate have never been busier,” said HAR Chair Chaille Ralph, with Heritage Texas Properties. “Stewart Title Chief Economist and former HAR Chairman Dr. Ted C. Jones forecasts positive sales to continue in the new year, but at a slower pace. He anticipates about a 5 percent increase in home sales and a 6 percent gain in pricing. However, all that hinges on having homes to sell, and the local inventory is running extremely low.”

 

The single-family home average price rose 10.3 percent year-over-year to $265,017, while the median price – the figure at which half of the homes sold for more and half sold for less – rose 10.9 percent to $188,500. Both figures represent historic highs for a December in Houston.

 

Sales of foreclosure properties continued their yearlong decline, falling 48.8 percent compared to December 2012, according to the HAR Multiple Listing Service. Foreclosures currently make up 6.5 percent of all property sales reported through the MLS, one-third of the share they comprised at the beginning of 2013. The median price of December foreclosures increased 8.3 percent to $91,000.

 

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Dyman Real Estate: Residential real estate

Dyman Real Estate: Residential real estate | Dyman Real Estate | Scoop.it
DEALS OF THE WEEK A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania $7,574,553 Property sold: ...
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DEALS OF THE WEEK

 

A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania

 

$7,574,553

 

Property sold: 2055 Washington Pike, Heidelberg

 

Seller: BRL Orangeburg Properties LLC, Pittsburgh

 

Buyer: MMWG Heidelberg LLC, Pittsburgh

 

Details: A 14,580-square-foot Walgreen's store

 

Comment: “Given several prevailing market factors, we were presented with the opportunity to execute this transaction in which we were able to sell a high quality asset at a hefty profit, and reposition our capital into another high quality property,” said Daniel N. Farber, principal at H. Lipsitz Companies, Pittsburgh.

 

$1.77 MILLION

 

Properties sold: 4326 Northern Pike Road for $920,001 and 4328 Northern Pike Rd. $850,001, both in Monroeville

 

Seller: Monroeville Hospice Center Inc.. Monroeville

 

Buyer: First Commonwealth Bank, Indiana, Pa.

 

Details: Contains single-story and two-story medical office buildings with one or two other medical-style offices within them

 

Comment: “We are in the process of marketing the properties for sale, with the goal of identifying an appropriate investor or developer,” said Rich Stimel, First Commonwealth's vice president of corporate communications.

 

$277,091

 

Property leased: 3800 block of South Water Street, South Side

 

Owner: Rivertech Office Works, Pittsburgh

 

Tenant: University of Pittsburgh Department of Sports Medicine and Nutrition

 

Details: Ten-year lease of 11,667 square feet of office and lab space, beginning Jan. 1, 2015. The department leases 7,790 square feet in two buildings there.

 

Comment: “The increased space reflects the continued growth in research funding that the department has experienced. The department currently receives $44.2 million in research funding and additional growth is expected,” according to a news release from the University of Pittsburgh.

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Dorota Dyman Associates Tips for first-time homebuyers

Dorota Dyman Associates Tips for first-time homebuyers | Dyman Real Estate | Scoop.it
The market can be tough for first-time buyers so with the spring homebuying season now in full swing (March through June are the year’s four busiest months), here are some tips for first-time homebuyers.
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The market can be tough for first-time buyers so with the spring homebuying season now in full swing (March through June are the year’s four busiest months), here are some tips for first-time homebuyers.

 

With two daughters and a baby on the way, Carlos and Cinthya Jijon decided last year to buy a house for about the same monthly cost as a bigger apartment. But they couldn’t find a home.

 

Supply was tight. And investors armed with fistfuls of cash outbid them every time.

 

This month, however, the Jijons are unpacking, settling into a one-story house in Buena Park, Calif. The auto-parts deliveryman and the nurse made the transition from renters to first-time homebuyers.

 

The market is tough for first-time buyers such as the Jijons, and statistics show the number of first-timers is falling.

 

But the Jijons persevered, taking an eight-hour homebuying course, learning about cash-assistance programs, and getting loads of practical advice. They beat the odds.

 

With the spring homebuying season now in full swing (March through June are the year’s four busiest months), here are some tips for first-time homebuyers.

 

Determine what you can afford. The first step is to meet with a lender, review your finances and find out how much you can afford to spend on a home and how much you have for your down payment.

 

“If they qualify for a $300,000 house, they shouldn’t be wasting their time looking at a $500,000 house,” says Maritza Reyna, an education manager at Consumer Credit Counseling Service.

 

Experts also warn not to shop for the most expensive home you qualify for, unless you truly can live with the payment that comes with it.

 

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Dyman Real Estate: Melbourne real estate market picks up where it left off

Dyman Real Estate: Melbourne real estate market picks up where it left off | Dyman Real Estate | Scoop.it

Dyman Real Estate: Melbourne real estate market picks up where it left off

Just over two-thirds of the Melbourne properties up for auction over the weekend sold.
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Just over two-thirds of properties up for auction over the weekend sold, setting the scene for a hot market in the late summer and autumn.

 

The Real Estate Institute of Victoria recorded a 68 per cent clearance rate from 253 results. Research house RP Data recorded 68.8 per cent from 285 auctions.

 

RP Data spokesman Robert Larocca said the market was picking up where it left off last year but the low number of auctions meant it was too soon to judge where it was going.

 

''I would be surprised if there is any substantive change from last year. The fundamentals haven't changed,'' Mr Larocca said.

 

Commentary over the holiday break has focused on concern about the surging house prices in Sydney and Melbourne but the Reserve Bank of Australia kept rates on hold last week.

 

There are signs the market will remain as hot as it ended in December. The highest price in weekend auction results was for a house that was snapped up last week.

 

The four-bedroom clifftop property at 4 Ian Road, Mount Martha, had six registered bidders and a quoted price of more than $1.3 million, JP Dixon agent Val Garma said.

 

''One particular buyer threw in an offer that was way above the rest of the pack at $1.48 million, on a 30-day unconditional settlement,'' Mr Garma said. ''It was way too tempting for our vendors. Other offers had been around $1.3 million,'' he said.

 

Agent Greg Hocking said there was a ''new range of buyers'' in the market place impatient to see new stock. ''They've been saying to us, what's coming up? Where are the new properties?'' he said.

 

Mr Hocking said the weekend before the Labour Day long weekend in March was shaping up to be a super weekend.

 

It was full house at the Metung Hotel in East Gippsland where 1400 hopeful buyers competed for 86 properties and marina berths.

 

Agent John Castran said all properties sold, with multiple bidders for each. The mortgagee auction followed the collapse of developer Riviera Properties.

 

Read full article here:

http://www.smh.com.au/business/property/melbourne-real-estate-market-picks-up-where-it-left-off-20140209-32a0s.html

 

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Dyman Real Estate: How to use crowdfunding to invest in real estate

New investing sites offer opportunities, pitfalls.
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It’s the Facebook approach to money: Connect with friends. Then donate, invest and even fund a new business together.

 

Crowdfunding is all the rage, attracting everyone from individuals who want to get in on the next big thing to regulators who want to protect you. And one segment drawing a lot of attention of late is real estate, an investment formerly accessible mostly just to those who could afford to plunk down a large down payment on their own.

 

Crowdfunding will certainly face some stiffer controls in the not too distant future. Just this week, the public comment period closed on Title III of the JOBS Act, the SEC’s crowdfunding rules proposal. Among other things, the JOBS Act (short for Jumpstart Our Business Startups) enables average investors to access more complicated investment opportunities which previously were available only to “accredited investors” who earn more than $200,000 a year or who have a net worth exceeding $1 million.

 

“Until new SEC crowdfunding rules are finalized, the only way most Americans can invest in real estate — outside their home — is through a REIT,” says Grant Easterbrook, senior research associate at Corporate Insight, who’s been tracking these new platforms.

 

Purchasing a share in a REIT allows an investor to buy into a management company with a portfolio of existing investments. Real estate crowdfunding, however pools investors together so that, with as little as $5,000 typically, they can buy small shares of individual properties.

 

These are generally commercial properties, such as multi-family, retail, office and industrial projects, including new developments. You can get direct ownership and, if projects are successful, increase your long-term returns by saving money on the fees many REITs charge, says Easterbrook. Investing in REITs provides indirect ownership, and fees investors pay generally go toward the management company in exchange for professional management. For engaged investors, other benefits of real estate crowdfunding include greater transparency and control over your holdings. Users can review regular progress reports and monitor each of their property investments online, including possible dividend payments.

 

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Millionaires See Real Estate as Top Investment for 2014

Millionaires See Real Estate as Top Investment for 2014 | Dyman Real Estate | Scoop.it
U.S. millionaires see real estate as the top alternative-asset class to own this year, according to Morgan Stanley.
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U.S. millionaires see real estate as the top alternative-asset class to own this year, according to Morgan Stanley. (MS)

 

About 77 percent of investors with at least $1 million in assets own real estate, according to a survey released today by the New York-based investment bank’s wealth-management unit. Direct ownership of residential and commercial properties was the No. 1 alternative-investment pick for 2014, with a third of millionaires surveyed saying they plan to buy this year. Twenty-three percent said they expect to invest in real estate investment trusts, the second-most popular choice.

 

Wealthy investors are turning to a rebounding real estate market as fixed-income yields remain historically low and equities surge. U.S. commercial-property values rose 8 percent in the 12 months ended Jan. 31, and have jumped 71 percent since hitting their post-recession bottom in 2009, research firm Green Street Advisors Inc. reported today. The S&P/Case-Shiller index of home prices in 20 cities is up 24 percent from its 2012 low.

 

“After a year where the Standard & Poor’s Index rose 30 percent, some millionaires are moving money out of traditional, long-only strategies to find outperformance, and turning toward alternatives such as real estate and private equity,” said Gary Kaminsky, a vice chairman at Morgan Stanley Wealth Management in New York. “Sophisticated, high-net-worth investors are much more concerned about losses.”

 

Collectibles ranked as the third-most-popular alternative-investment choice this year, with 20 percent of millionaires saying they planned to buy, followed by private equity at 19 percent and precious metals at 16 percent.

 

Interest Rates

 

Wealthy investors see stocks getting expensive and interest rates staying stable or even declining over the next couple of years, Kaminsky said in an interview at a conference for Tiger 21 investors last week in Scottsdale, Arizona. That’s why they are looking more closely at alternatives including real estate for returns and income, he said.

 

Tiger 21 members, who have at least $10 million in investable assets, increased their average allocation to real estate last year to 21 percent as of the fourth quarter from 19 percent in the first three months of 2013, according to a separate study released by the New York-based group last month.

 

Will Ade, a Tiger 21 member, said real estate is a particularly attractive investment as stocks show vulnerability in 2014. The S&P 500 has fallen more than 4 percent this year, while developing-country stocks have tumbled on concern that the outlook for economies is worsening.

 

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