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Real estate sales booming in Cochrane, Airdrie

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Post media news Coopers Crossing in Airdrie.  The city north of Calgary saw a surge in home sales. Coopers Crossing in Airdrie. The city north of Calgary saw a surge in home sales. Photo from postmedia file

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Norma and Alan Kehoe said it was not easy to leave Cape Breton’s beauty and friendships.

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But living near grandchildren in Cochrane was a major draw for moving west and buying a house in the Fireside section of town west of Calgary.

“We love Cochrane. We love being close to the mountains and the city without having to be there, ”says Alan Kehoe.

“(Cochrane is) an older church, but it’s growing fast.”

The couple, who will own their 1,430-square-foot home next month, are among the home buyers who are fueling a housing boom in the cities of Calgary.

According to new data from the Calgary Real Estate Board (CREB), the 725 home sales in the first six months of the year in Cochrane almost match the record purchases of 754 in the record year 2014.

The same applies to Airdrie in north Calgary, where the annual average of 1,300 home sales has already been exceeded.

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The reference price for a single-family home in Airdrie was $ 432,700 in June, 15 percent higher than last year.

But the average price of a single-family home in Airdrie so far this year is $ 411,011, which is well below the $ 500,183 in Calgary, according to CREB.

“My record sales in previous years were exceeded by May of this year,” said Natalie Bethiaume of CIR Realty, who specializes in Airdrie.

Lower property prices are attracting buyers, she said, in the city, which has nearly doubled in size since 2009 to more than 70,000 residents.

“Neither of us saw this market coming. When COVID-19 really became a problem, all predictions were that this market would decline, but the opposite has happened, ”Berthiaume said.

The COVID-inspired trend to work from home has made places like Airdrie more attractive, she said.

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One example is Cochrane CIR’s real estate agent Kendra Watt, whose population has grown by 30 percent to over 34,000 in the past five years.

“Working from home gives people the flexibility to live further away from the city center. . . We have seen a significant increase in the number of people moving in from Calgary since the pandemic, ”said Watt.

“And your money goes further here than in Calgary – it has always been like that.”

In the past six months, prices in Cochrane were four percent higher than the same period in 2020, says CREB.

Even so, it remains attractive to people from much more expensive places in the area like Canmore, Watt said, where the benchmark price has increased 17 percent from more than $ 1.15 million since last year.

“We see quite a lot of Canmore people coming out,” she said.

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It is a demand that Watt and her employees “ran off the rails – it was certainly at least twice the production of 2020”.

But that means the market has been catching up since the early months of the pandemic, Watt said as sales slowed.

But now that late pandemic surge has meant more expensive building materials and a less predictable time frame for construction, Watt said.

“So instead people come to the resale market, something we’ve never seen before,” she said.

That also meant more cash purchases as buyers try to maintain a more solid claim in a competitive sellers market, Watt added.

Both Berthiaume and Watt say at least 10 percent of their newer buyers are also provincial.

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“That is more than before. People withdraw to spend their summers here and cash in expensive places like Vancouver and southern Ontario, ”said Berthiaume.

“You don’t even blink at our prices. You can see the value here. “

But rising demand for living outside the city limits has hurt affordability, says CREB.

In Okotoks, south of Calgary, the benchmark single-family home price rose to $ 508,200 last month, up nearly 14 percent year over year and seven percent since early 2021, it said.

“Record sales and low inventory levels meant that delivery months stayed just over a month,” says the latest CREB report.

“The low inventory in relation to sales has persisted in this market since the third quarter of last year and led to constant price increases, especially for single-family homes.”

The population of Okotoks has grown eight percent over the past five years to 31,569 in 2020.

BKaufmann@postmedia.com

Twitter: @BillKaufmannjrn

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Robert Durst trial: Real estate tycoon, accused of killing his close friend, now expected to take the stand tomorrow

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Durst is charged with the first degree murder of his close friend and confidante Susan Berman in their Beverly Hills home in 2000, hours before she was due to speak to investigators about the mysterious disappearance of his first wife, Kathleen McCormack Durst. last seen in 1982.

Durst has long denied killing Berman, and his lawyer said he panicked and ran away after finding her body. He did not plead guilty.

The process started early last year but was suspended in March 2020 after just a few days due to the coronavirus pandemic. It finally resumed in May of this year, and prosecutors reopened her case on Tuesday after months of testimony.

Durst’s expected testimony is just the latest saga in an unusual life that reached mass audiences in 2015 through the miniseries “The Jinx”.

He was arrested in New Orleans the night before the show’s final episode, making the finale a must-see on TV. And in his final moments, Thirst went into the bathroom seemingly without realizing that his microphone was still on, and made a series of comments that became infamous.

“There it is. You’re trapped, ”he said in a series of seemingly incoherent sentences. “He was right. I was wrong.”

“What the hell did I do? Killed everyone, of course.”

The comments came across as a breathtaking confession to the audience. However, transcripts of the audio recording in court showed the quotes had been spliced ​​and edited to stand in a different order and context, the New York Times reported.

Durst’s health has since deteriorated and he looks and sounds frail in court. At 78 he is thin, hunched over, sits in a wheelchair and speaks in a whisper.

Earlier this week, Los Angeles District Supreme Court Justice Mark Windham declined recent offer from Durst’s attorneys to postpone or end the trial because of his health problems. Thirst has bladder cancer and has undergone several surgeries, including placing a shunt in his head to relieve pressure on his brain.

“I am concerned about his health,” said longtime attorney Dick DeGuerin. “I am concerned about his survivability and his ability to understand complex issues, both face-to-face and cross-examined.”

What can be expected from his testimony?

A self-defense testimony is unusual for a murder accused, but the tactic worked for Durst in a previous murder trial.

In 2003, an animated thirst testified that he fatally shot a neighbor, Morris Black, in self-defense and admitted to cutting his body with surgical precision and dumping it in Galveston Bay. He said he did so in a panic while prosecutors said he wanted to steal the man’s identity and avoid the investigation into his wife’s disappearance.

The Texas murder trial revealed more about Durst’s often eccentric behavior, including how he pretended to be a dumb woman while hiding in Galveston.

The Texas jury accepted Durst’s self-defense claim and acquitted him of the murder.

Durst’s testimony is expected to take several days, and legal analysts warn that he must be careful with his words.

His “testimony could open the door to all kinds of previous misconduct he could be questioned about,” said CNN legal analyst Joey Jackson. “If the jury thinks he’s lying, evasive or unsympathetic, a conviction is guaranteed.”

The medical issues could also come into play.

“There is still a slim chance of a judge’s sympathy,” said Stan Goldman, professor at Loyola Law School.

But Jackson believes Thirst needs to be careful about how the jury perceives his medical problems. “If he testifies and feigns illness or incapacity, the jury will see through it,” joked Jackson.

In addition, Judge Windham could postpone the trial because of thirsty ill health, Goldman said.

“That is when the judge changes his mind and determines that thirst’s condition does not allow him to testify at this time or in the foreseeable future,” Goldman said.

How we got here

Prosecutors allege Durst shot Berman in the back of the head to prevent her from incriminating him in the disappearance of that first woman, Kathleen, in 1982. They say Durst confided in Berman that he killed Kathleen and that she helped him cover his tracks.

Durst is likely to be cross-examined by Los Angeles Assistant District Attorney John Lewin, who has persecuted Durst relentlessly for Berman’s murder.

Lewin and Durst met in a New Orleans prison cell in 2015 after Durst agreed to a three-hour interview without his attorneys present, making potentially harmful claims and complaining about his many physical ailments.

“My life expectancy is about five years,” said the eccentric millionaire in an interview in 2015.

There is little physical evidence of Berman’s nearly 20-year-old unsolved death. There are no eyewitnesses and no murder weapon.

An important piece of evidence is the so-called “corpse note”, a cryptic letter to the police with Berman’s address and the word “corpses” in capital letters, which led detectives to her corpse.

In the HBO documentary “The Jinx,” Durst said the letter could only have been sent by Berman’s killer. Defense attorneys have previously denied Durst wrote the note and tried to rule out handwritten evidence about it.

But in a lawsuit late last year, the real estate mogul’s lawyers turned back and admitted that Durst wrote the anonymous note. “That doesn’t change the fact that Bob Durst didn’t kill Susan Berman,” DeGuerin said at the time.

In the documentary, too, filmmakers confronted Durst with another letter he had once sent to Berman, with an almost identical handwriting to the “corpses” note. In both, Beverly Hills was misspelled as “BEVERLEY”.

Lewin asked him in an interview with Durst: “Why do you think the murderer should have left a message?”

“I’ll stay away from that,” said Durst.

CNN’s Augie Martin and Ray Sanchez contributed to this report.

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Real estate industry groups spent millions to halt the national eviction moratorium • OpenSecrets

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(Photo by Kevin Dietsch / Getty Images)

Housing and real estate groups spent more than $ 100 million lobbying over the past year and a half while Congress and the White House worked to extend the COVID-19 eviction moratorium that these groups were hoping to stop.

President Joe Biden announced Tuesday that the Centers for Disease Control and Prevention would impose a 60-day eviction ban on counties with “significant and high” virus transmission. At the start of the coronavirus pandemic in 2020, the CDC put in place a nationwide moratorium to curb the spread of the virus by keeping tenants in their homes. The House of Representatives did not pass a law on Friday that would keep the moratorium in place across the country until October 18.

The 60-day ban came days after House Democrats, including MPs Cori Bush (D-Mo.), Ayanna Pressley (D-Mass.) And Ilhan Omar (D-Minn.), Put heavy pressure on Biden and the Congress had exercised to reinstate the moratorium. Bush, who has experienced homelessness, slept on the Capitol steps for five nights in protest at the lifting of the ban.

“Last night we stood on the Capitol steps in a moment of silence for all the people who are vacant and whose lives have been taken for political violence,” tweeted Bush on Sunday. “For everyone whose life is in danger until the eviction moratorium is extended. We have to save lives. “

But the moratorium has also been the subject of several lawsuits and lobbying since it was introduced by groups such as the National Association of Realtors and the National Apartment Association.

The real estate association, the largest real estate business in the country, spent over $ 84 million on lobbying last year, its highest figure ever and having spent over $ 18 million to date in 2021.

The group continued to oppose the eviction moratorium and pushed for more rent support funds because the moratorium is detrimental to housing providers or landlords who lose rent payments. She reported lobbying discussions with Congress, the Ministry of Housing and Urban Development and the National Economic Council, among others, regarding the moratorium.

The group was also involved in two lawsuits with the Alabama and Georgia Brokerage Association seeking to lift the eviction notice. The two groups filed lawsuits against the Trump administration last year, saying it was illegal for the CDC to enact the moratorium.

The lawsuit against the Alabama Realtors’ Association reached the Supreme Court, which ruled in June that the moratorium could remain in place but warned the Biden administration not to extend the ban beyond July.

The Housing Association, a landlord trading group, filed a similar lawsuit against the federal government shortly after the Supreme Court ruling. The association has campaigned heavily against the moratorium, spending over $ 1.4 million in 2020 and $ 670,000 so far this year. The group also campaigned for more tenant aid funds, claiming in a statement accompanying the lawsuit that homeowners “owe $ 26.6 billion.”

“Any extension of the eviction moratorium amounts to an unfunded government mandate that forces housing providers to provide an expensive service without compensation and places tenants with insurmountable debt,” said Bob Pinnegar, president and CEO of the NAA, in a statement Dec. July.

The Mortgage Bankers Association, an advocacy group for the real estate finance industry, also campaigned against the moratorium. The association spent over $ 2.4 million on lobbying efforts in 2020 and has already spent nearly $ 1.2 million this year.

Last year, the group also campaigned against the moratorium on coronavirus eviction law and spent much of 2021 campaigning for rental support. The organization said in a statement following the initial adjustment of the ban that the moratorium would trigger a “cascade reaction” that would only tighten the economy.

While lobby groups insist that the eviction ban is detrimental to the economy, Democrats and civil rights activists, including MP Alexandria Ocasio-Cortez (DN.Y.) and Senator Elizabeth Warren (D-Mass.), Praised Bush after the new ban was imposed had been put in place for their efforts outside the Capitol.

“I applaud the CDC for imposing an eviction moratorium on the vast majority of the population,” Senate majority leader Chuck Schumer (DN.Y.) said in a statement on Tuesday. “It is devastating for anyone who loses their home through no fault of their own, and it is shameful that the Republicans in Congress have not lifted a finger to prevent it.”

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Sera Global Continues Expansion of Real Estate Expertise with Hire of Six Industry Leaders

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NEW YORK, 4th August 2021 / PRNewswire / – Sera Global (“Sera”), a leading global independent real estate advisor, today announced the continued expansion of its real estate business with the hiring of five partners and an executive director. famous North America and Europe.

The new employees bring a wealth of experience to Sera’s growing real estate team. These professionals, who move into Private Capital Advisory (PCA) and Investment Banking, further underscore how Sera is building an integrated advisory platform to meet clients’ strategic priorities across their business or asset lifecycle.

“We are excited to welcome each of these talented individuals to our growing global team and are excited about the extensive real estate knowledge and experience they will bring to our client base,” said Leo van den Thillart, Managing Partner and Global Head of Sera. “These people are central to realizing our vision as a holistic strategic advisor as our clients continue to seek long-term partnerships with specialist real estate expertise in investment banking, private capital advisory and liquidity solutions.”

  • Bailey Puntereri, Partner joins Sera’s private capital advisory business new Yorkwhere he will be responsible for institutional investor and advisor coverage as well as advising property operators and managers on capital raising strategies, vehicle structuring and equity placement. He brings almost 20 years of experience in commercial real estate and most recently served as a Principal in the real estate sales team at PJT Park Hill, serving institutional investors along the East Coast and Southern United States.
  • James Park, Partner strengthens Sera’s investment banking team in new York from Evercore, where he served as a managing director in the real estate consultancy practice. Previously, he was also Managing Director at UBS in their Real Estate Lodging and Leisure (RELL) Group, both in London and Singapore. At Sera, he will be responsible for M&A, strategy and fundraising advice for public and private companies and sponsors.
  • Patricia Wilkinson, Partner will be responsible for the project management function for Real Assets for Sera Global’s Private Capital Advisory business and will also be responsible for advising general partners, operating companies and managers of Real Assets on capital formation and fund strategy, as well as overseeing the fundraising process and business development . She joins Sera from Threadmark, where she was responsible for project management and origination worldwide.
  • Alexandra Cromer, Partner becomes Co-Head of Project Management and Deal Management for Sera Global’s Private Capital Advisory business. Prior to joining Sera, Alexandra was with Atlantic-Pacific Capital for over 13 years, providing strategic advice and management services for primary fundraising, co-investments and direct transactions to a number of infrastructure and real estate clients.
  • Eoin Bastible, Partner comes from UBS Asset Management, where he has been Head of Business Development EMEA for Real Estate and Private Markets since 2014. Seat in London, he will be responsible for Funding, Origination and Business Development for Private Capital Advisory in EMEA.
  • Ian Currie, Executive Director becomes Executive Director in Sera’s Private Capital Advisory business, based in London. Ian was previously Executive Director at MEC Global Partners, Mitsubishi Estate’s investment platform.

“As our customers develop their business and growth strategies, these people will help drive our integrated approach to customer solutions and help us achieve their long-term goals,” said Maggie Coleman, Managing Partner, Real Estate Private Capital Advisory at Sera Global. “We look forward to expanding our portfolio of real estate advisors as we accelerate our delivery of solutions to global markets.”

These appointments follow the recent addition of Michael Yang and Kilian Toms Head of the Liquidity Solutions / Secondaries Practice of Sera and Maria Kang | and Stephane Marguier to drive the North American and European expansion of Sera’s infrastructure PCA business, both key pillars of Sera’s integrated approach to strategic advice.

About Sera Global

Sera Global is a leading global real estate advisor with over $ 100 billion in the previous transaction volume; Sera management has more than $ 300 billion of capital. The company offers integrated investment banking, private capital and strategic advisory services in the real estate, infrastructure and renewable energy sectors. Sera is co-headquartered in New York, NY and London, United Kingdom with own offices in The angel, Toronto, and Seoul.

Contact:
Anne Hart / Claire Walsh
[email protected] / [email protected]

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