Connect with us

Real Estate News

Mortgage And Real Estate News This Week

Published

on

Bankrate follows a strict editorial policy so you can be confident that your interests come first. Our award-winning editors and reporters create honest and accurate content so you can make the right financial decisions.

Key principles

We appreciate your trust. Our mission is to provide accurate and unbiased information to readers, and we have editorial standards to ensure this. Our editors and reporters carefully review the editorial content to ensure that the information you read is correct. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive any direct compensation from our advertisers.

Editorial independence

The editors of Bankrate write on behalf of YOU – the reader. Our goal is to provide you with the best advice so you can make smart personal financial decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team does not receive direct compensation from advertisers, and our content is carefully checked for accuracy. Whether you are reading an article or a review, you can be confident that you are getting credible and reliable information.

You have money questions. Bankrate has answers. Our experts have been helping you manage your money for over four decades. We constantly strive to provide consumers with the expert advice and tools they need to be successful throughout life’s financial journey.

Bankrate follows a strict editorial policy so you can be confident that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content so you can make the right financial decisions. The content created by our editorial team is objective, factual and is not influenced by our advertisers.

We’re transparent about how we can bring you quality content, competitive prices, and useful tools by explaining how we make money.

Bankrate.com is an independent, ad-supported publisher and comparison service. We are compensated in exchange for placing sponsored products and services or for clicking certain links posted on our website. Therefore, this compensation may affect how, where, and in what order products appear in listing categories. Other factors, such as the rules of our own website and whether a product is available in your region or in your chosen credit score area, may also affect how and where products are displayed on this website. While we strive to offer a wide range of offers, Bankrate does not include information about every financial or credit product or service.

Summer unofficially starts this weekend, which means you might be looking for a new place to put your grill. As the warmer weather approaches, there is something you should know about the mortgage and real estate industries this week.

1. The real estate market is still hot …

There is madness in home buying all over the country, but some places are more hectic than others. Bankrate’s quarterly Housing Heat Index shows Utah, South Dakota, Montana, New Hampshire and Idaho were the top five states for shopping earlier this year.

Read the story.

2. … and it shows no signs of cooling.

If you are looking to buy a home, don’t expect it to get much easier anytime soon. Real estate prices rose 12.6 percent in 2020 compared to 2019 and continue to rise. The ongoing low inventory problem won’t be resolved overnight, so competition is likely to remain fierce for a while.

Read the story.

3. A good time to refinance your mortgage

Experts mostly expect mortgage rates to rise this year, but a week of falling rates means that now is really the time to think about a refinance if you still hold out. Prices are unlikely to get much lower than they are now. So start with your records to maximize your savings.

Read the story.

4. What you should know about the 3% interest threshold

Although rates fell below 3 percent later this week, they were above that benchmark early on. Remember, 3 percent for mortgage rates is still historically low, but it is an important psychological threshold for homeowners and buyers. Since interest rates fluctuate around this mark, it is a good idea to get your mortgage finances in order before the interest rates return solidly to the 3s.

Read the story.

5. Skip the chapel and go straight over the threshold

Netflix’s new reality show “Marriage or Mortgage” shows how many young couples forego a lavish wedding in order to make a real investment in their future: buying a home.

Read the story.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Real Estate News

Crow Holdings Announces Closing of Ninth U.S. Diversified Value-Add Real Estate Fund with Approximately $2.6 Billion of Investable Capital

Published

on

DALLAS – (BUSINESS WIRE) – Crow Holdings, a leading national real estate investment and development firm, today announced the definitive closing of Crow Holdings Realty Partners IX, LP (“Fund IX” or the “Fund”). Managed by Crow Holdings Capital, Crow Holdings’ investment management company, the fund invests in value-adding real estate investments in the United States, primarily in industrial and multi-family homes and specialty sector opportunities.

Fund IX was oversubscribed with approximately $ 2.3 billion in commitments, above its original ceiling of $ 2.0 billion, and received strong support from existing investors and significant participation from new investors, including global banks and Insurance companies, pension plans, family offices and high net worth individuals. The fund has also co-invested a total of $ 265 million in equity, resulting in total investable equity of approximately $ 2.6 billion for the strategy. Fund IX marks the company’s largest fundraiser to date and is a significant increase over the $ 1.3 billion pledges raised for the previous fund.

The fund focuses on diversified value-add investment and development opportunities in multiple property types in major US markets. Today these possibilities exist mainly in industrial and multi-family houses as well as in special sectors such as prefabricated houses, comfort and gas, self-storage and student dormitories. The fund was fully launched during the Covid-19 pandemic and began investing during this challenging time as well. To date, more than 63% of the fund’s capital has been invested in 62 investments, primarily in the high-growth regions of the Southwest, Southeast and Mountains of the United States

“We appreciate the trust our investment partners have in the continued ability of our team to deliver results to them,” said Michael Levy, CEO of Crow Holdings. “This successful degree shows recognition for our company’s long-standing track record, real estate expertise and, in particular, for our early recognition of the considerable tailwind behind the demand for logistics and e-commerce, the changing population demographics and changing housing preferences as an integral part of our differentiated investment strategy . ”

“With more than 63% of the capital employed in Fund IX, we are already achieving strong investment results, including the repatriation of capital at the beginning of the fund’s life cycle through rapid realizations. This achievement is recognition of the team who have worked hard during this unprecedented and challenging time to continue fulfilling our commitment to all partners, ”said Bob McClain, CEO of Crow Holdings Capital. “We believe that our pipeline – particularly in the industrial, multi-family and specialty sectors – will continue to offer attractive opportunities to grow results throughout the life of the fund.”

Hodes Weill Securities, LLC acted as placement agent for Fund IX.

About Crow Holdings

Crow Holdings is a leading national real estate investment and development company with 70 years of operations and $ 21 billion in assets under management. With a strong track record across property types and market cycles, Crow Holdings pursues unique investment opportunities through a range of strategies and risk-return profiles, creating value for its investors, partners and communities. Operating out of 17 offices in the United States, Crow Holdings has extensive industry reach with expertise in multi-family, industrial, office and specialty sectors and has developed or acquired more than 225 million square feet. Our core principles of partnership, collaboration and reconciliation of interests remain central to Crow Holdings today. More information is available at www.crowholdings.com.

Continue Reading

Real Estate News

Black real estate developer breaks ground on new housing project in his Southcrest neighborhood

Published

on

Developer DaSean Cunningham broke ground for his first residential project in the neighborhood he grew up in. Seven new houses are to be built in Newton Gardens.

SAN DIEGO – Real estate developer DaSean Cunningham is thrilled to have broken ground for the Newton Gardens residential project in the Southcrest neighborhood where he grew up.

“Yes, we’re African-American men, but we do it. I’m good at real estate because I’ve seen someone who looks like me,” said Cunningham of Paradigm Commercial Group.

The search for a builder led to a chance meeting of Joseph Lewis with Cunningham’s mother.

“I met her at Home Depot when she asked my opinion on a color and I gave her a card and she said, ‘I think you could help my son,'” said Lewis, owner of Llewellyn Group, LLC . a real estate development company.

Lewis will oversee the entire construction of Newton Gardens at 4066 Newton Avenue.

Black property developer DaSean Cunningham from Paradigm Commercial Group is excited to break ground for a new 7-unit residential project in the neighborhood where he grew up in Southcrest #SanDiego Congrats @ CBS8 @DeskEight 🏡https: //t.co/gwfvMtrazO pic .twitter.com / 8bfQ88Oa58

– Heather HOPE (@ HopeNEWS8) September 22, 2021

“I have this equipment behind me, so tomorrow I’ll flatten this land and then we’ll dig the foundations the next day,” said Lewis.

Lewis led six other projects in the same southeastern area of ​​San Diego’s 9th Ward, and said getting from the planning stage to getting funding and construction can often be a struggle.

“I had never built a house before 2017, but I had to figure out how to make plans, how to get the money, and how to get around town because that is really a trip around town. I can’t be the only one going through this drama and then DaSean came into my life and I’m determined to get him through this project ahead of time, ”said Lewis.

The all-African American group takes to the ground while breaking barriers. The residential project plans consist of seven units including three bedroom / three bathroom villas. Cunningham invested $ 200,000 of his own money, received a $ 400,000 loan for construction, and has to pay for city fees, water and sewer permits, and school and architecture fees totaling about $ 800,000.

“The main source of wealth in the United States is real estate. He’s black like me and we need to support each other in this area as we represent 0.25% of the industry, ”said Demetre Booker Jr., managing partner for Elevate Commercial, a minority owned commercial real estate company.

Booker Jr. said Cunningham’s project stands out in a community where black real estate owners are severely underrepresented.

“This is already a success for him. The average net worth of African Americans is $ 17,000, compared with Hispanics at $ 23,000 and Caucasians at $ 170,000. The majority of affordable housing developers don’t look like they live in the communities where they help or where they do business.

Newton Gardens is just a filthy place now, but Cunningham said the project embodies a lot more.

“I love what that symbolizes. Like these African American men in San Diego who are driving developments and models for what is possible in the communities they live in, ”said Cunningham.

The Newton Gardens development is expected to be completed by autumn 2022.

Continue Reading

Real Estate News

Brad Pitt and Angelina Jolie vie for $ 164 million French real estate

Published

on

Angelina Jolie and Brad Pitt’s divorce ended in 2019, but the former couple are still fighting over luxury real estate in France, according to Fox News court records. Increase.

A complaint filed in Luxembourg on Tuesday did not allow the “Maleficent” star (46) to capture a 50% stake (57) of the 1,000 hectare, $ 164 million Chateau Miraval in Corin, France. He accuses him of trying to dump. The first option to buy them.

The huge property is owned by separate limited liability companies managed by both parties, according to court documents stating that Mirabal was owned by Kimikam-Pitt, originally 60% owned by his company Mondobongo. I owned a share. Jolly now held 40% through her company Nouvel.

“Nouvelle has been worth mentioning for four years. [Jolie’s company] Due to the systematic delay in the approval of the annual financial statements and the appointment of new executives, we have not acted in the best interests of Quimicum, ”it said in the proceedings.

Angelina Jolie says she did not divorce Brad Pitt “lightly”: “There is not much I can say.”

An aerial photo taken in Leval, southeastern France on May 31, 2008, shows Chateau Miraval, a vineyard mansion owned by Brad Pitt and Angelina Jolie.
(Michel Gangne ​​/ AFP via Getty Images)

“I understand the real purpose of Nouvel and its shareholders behind this systematic obstruction. [Jolie] The shares of Château Miraval SA were sold by circumventing Mondobongo’s first veto (as described in the Kimikam Authorization Article), which resulted in capital gains thanks to Mondobongo’s investment and no Nouvelle contribution. “

Pitt and Jolly married in a luxury apartment in 2014 in a top-secret ritual that only had six children in attendance. According to the document, three years before they rolled the ball in a long divorce lawsuit, Pitt transferred 10% of his stake in Jolly, making both 50/50 co-owners with nine-figure landmarks. Bottom.

Court disqualifies Angelina Jolie’s judge, Brad Pitt’s divorce case

According to sources reporting Fox News Tuesday, Jolly had allegedly been involved in real estate when the actress tried to move the goal post and evade her duty to box. They wanted to get out of business.

Meanwhile, Jolly’s camp points to Pitt, who allegedly used his celebrity to sympathize with the ongoing Exe custody battle.

Brad Pitt filed a lawsuit in court alleging Angelina Jolie attempted to sell her stake in Château Miraval’s estate without giving her the first option to buy it in full.
(Michel Gangne ​​/ AFP via Getty Images)

“This type of gamemanship is the final attempt by a prominent party seeking special treatment, not the purpose of the court’s limited review resources,” Jolly’s attorney told Page Six on Tuesday. ..

“There is nothing to see or to evaluate here. It’s okay to meet this court’s strict standards for review or review, ”she added.

Brad Pitt requests review of Angelina Jolie’s custody battle after private judge’s disqualification

Jolly filed for divorce in August 2016 because of “irreconcilable differences” in five of her six children (Pax 17 years old, Zahara 16 years old, Shiro 15 years old, twins Vivienne and Knox 13 years old). Custody requested. ..

Earlier this month, Pitt moved to re-examine her custody battle after Jolly won the disqualification of the private judge overseeing her case.

Angelina Jolie and Brad Pitt were married for two years before the actress filed for divorce.

Angelina Jolie and Brad Pitt were married for two years before the actress filed for divorce.
(Getty)

In a statement to Fox News, Pitt’s attorney Theodore J. Boutros Jr said: After lengthy trials by multiple witnesses and experts, he was disqualified after presenting detailed fact-based custody decisions.

“The judgment of the inferior court rewards the party who loses the custody case and allows them to await possible instructions on the case before moving to petition for the disqualification of the judge, their gambling art. Enables this type of strategy to be used. The “wait and see” objection to disqualification is involved in this case by unnecessarily prolonging the settlement of these disputes in an already overloaded judicial system. It does irreparable harm to both the child and the family, and in other cases, other families. The strategy will take away irreplaceable time with their children for parents as judges who allow such wise action will be disqualified for minor reasons during the trial.

Brad Pitt receives joint custody of children in Angelina Jolie’s divorce case

“The lower court ruling is bad for children and for California’s obese judicial system,” said Boutrous Jr. of Gibson, Dunn & Clutcher LLP. Closed.

Jolly’s attorney did not immediately respond to Fox News’ request for comment, but in a statement at the time, actress Robert A. Olson’s attorney told Entertainment Tonight: When the judge heard the question of imprisonment, he overturned the order of the Richter correctly.

Click here for the Fox News app

“Mr. Pitt’s attorney’s petition to the California Supreme Court reveals their hold on to this private judge who has shown prejudice and denied legally necessary evidence. In a financial relationship, Mr. Pitt’s attorney attempted to revive a private judge.

“Jolly wants Pitt to be with her instead of focusing on the children’s needs, voice, and healing,” the statement concludes.

Jolie representatives did not immediately respond to Fox News’ requests for comment.

Melissa Roberto of Fox News contributed to this report.

Source link Brad Pitt and Angelina Jolie vie for $ 164 million in French real estate

Continue Reading
Advertisement

Trending