Author: admin

By Susanne Dwyer

What began 30 years ago as a door-to-door labor of love for John Brian Losh has turned into a thriving, worldwide network of 131,000 luxury real estate professionals and a website that features approximately 55,000 luxury properties from around the world. Through a unique philosophy that welcomes agents, brokers, independents and brands alike, and a keen eye toward technology and marketing, Losh and team have kept Who’s Who in Luxury Real Estate ahead of the curve and a vital force for its members.

In the following interview, Losh, chairman and founder, and Luxury Real Estate President Meghan Barry, share the story of how Luxury Real Estate evolved, and why it remains a leading gateway for the upper-end real estate market.

Maria Patterson: Looking back on your 30-year anniversary, please tell us what first led to the idea of forming a network for luxury real estate professionals.
John Brian Losh: I’m a real estate broker who entered the luxury real estate business in 1971. I bought my first firm in 1976 and realized from the onset that I needed to broaden my marketplace. I realized there were other firms like mine that needed to connect and refer, and expose their business to a maximum audience. I started contacting people I had met around the world, and before we knew it, we had a network that quickly grew to around 100 firms. I founded the network in 1986 and started publishing Who’s Who in Luxury Real Estate (a compendium of luxury firms from around the world).

MP: The company has evolved impressively over the years. In your opinion, what are some of the most significant milestones in your history?
Meghan Barry: Obviously, the initiation of the network in 1986, but going online in 1995 was groundbreaking. When we first went online, lots of people thought the internet was a passing phase that people would tire of after a while. Being on the internet in 1995 was a big deal. At first, we only had member profiles and a web version of the directory online. We allowed members to feature five properties with their profiles. Eventually, this evolved into showcasing every property on the site, long before anyone was having conversations about big data and how to most effectively list properties on the internet.
JBL: When we went online, we went from being a small network of people and a book to an international network. Prior to that, people would ask, ‘What’s your exposure? Who sees this book?’ Once we went online, we were able to say, ‘The whole world sees the book.’
MB: There were also important milestones that weren’t tech-related, like hosting our first Luxury Real Estate Conference in 1995, starting Luxury Real Estate magazine in 2001, and forming our Board of Regents in 2004. These are just some of the key factors that have created the total package we have now.

MP: How many properties do you currently feature on LuxuryRealEstate.com?
MB: We have around 50,000 – 55,000 properties on the site. We only feature properties over a certain …read more

From:: Real Estate News

By Susanne Dwyer

Housing markets in the U.S. overall continue to progress, supporting the best year in home sales in a decade, as indicated by Freddie Mac’s Multi-Indicator Market Index® (MiMi®) value, which stands at 86—a market on the “outer edge of its historic benchmark range of housing activity.” The MiMi value, which has climbed back up 45 percent since its all-time low in 2010, is still trailing its high of 121.7.

“The National MiMi stands at 86, a 5.6 percent year-over-year increase, but still below its historic benchmark normalized to 100,” says Len Kiefer, Freddie Mac deputy chief economist. “The purchase applications indicator is up nearly 19 percent from last year, indicating strong housing demand and a market that’s poised to close out the best year in home sales in a decade.

“National home prices have surpassed their pre-recession nominal peak with about half of states still below their pre-recession peak,” Kiefer continues. “Factoring in low mortgage rates and modest income gains, house prices still have some room to run, as indicated by the MiMi payment-to-income indicator which is nearly 33 percent below its historic benchmark.”

Forty-one of the 50 states, plus the District of Columbia, have MiMi values within range of their benchmark averages, with Utah (100.4), Colorado (97.8), Hawaii (97), Idaho (96.7) and North Dakota and Oregon at (95.8) ranking in the top five. Seventy-six of the 100 metro areas have MiMi values within range of their benchmark averages, with Honolulu, Hawaii (99.8), Nashville, Tenn. (100.2), Ogden, Utah (99.3), Dallas, Texas (99.2) and Provo, Utah (101), ranking in the top five.

The most improving states month-over-month were Nevada (+2.59 percent), Arizona (+1.54 percent), Massachusetts (+1.53 percent), South Carolina (+1.34 percent) and Colorado (+1.24 percent). On a year-over-year basis, the most improving states were Nevada (+11.74 percent), Florida (+11.58 percent), Massachusetts (+11.35 percent), Mississippi (+9.76 percent) and New Jersey (+9.61 percent).

The most improving metro areas month-over-month were Las Vegas, Nev. (+2.57 percent), Charleston, S.C. (+2.00 percent), Seattle, Wash. (+1.76 percent), Worcester, Mass. (+1.74 percent) and Springfield, Mass. (+1.52 percent). On a year-over-year basis, the most improving metro areas were Orlando, Fla. (+17.85 percent), Worcester, Mass. (+14.49 percent) Tampa, Fla. (+14.36 percent), Chattanooga, Tenn. (+14.20 percent), and Dallas, Texas (+13.89 percent).

“The recent jump in mortgage rates will drive down homebuyer affordability and likely dampen demand for home sales next year,” Kiefer adds. “Though we’ve come far, as indicated in the national statistics, housing still has significant room for improvement in many markets across the country as indicated by the fact that 24 out of the top 100 metros are still more than 20 percent below their historic benchmark, as measured by MiMi.”

For more information, please visit www.freddiemac.com/mimi.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Housing Continues to Progress, Still ‘Room for Improvement’ appeared first on RISMedia.

…read more

From:: Finance and Economy

By Susanne Dwyer

Housing markets in the U.S. overall continue to progress, supporting the best year in home sales in a decade, as indicated by Freddie Mac’s Multi-Indicator Market Index® (MiMi®) value, which stands at 86—a market on the “outer edge of its historic benchmark range of housing activity.” The MiMi value, which has climbed back up 45 percent since its all-time low in 2010, is still trailing its high of 121.7.

“The National MiMi stands at 86, a 5.6 percent year-over-year increase, but still below its historic benchmark normalized to 100,” says Len Kiefer, Freddie Mac deputy chief economist. “The purchase applications indicator is up nearly 19 percent from last year, indicating strong housing demand and a market that’s poised to close out the best year in home sales in a decade.

“National home prices have surpassed their pre-recession nominal peak with about half of states still below their pre-recession peak,” Kiefer continues. “Factoring in low mortgage rates and modest income gains, house prices still have some room to run, as indicated by the MiMi payment-to-income indicator which is nearly 33 percent below its historic benchmark.”

Forty-one of the 50 states, plus the District of Columbia, have MiMi values within range of their benchmark averages, with Utah (100.4), Colorado (97.8), Hawaii (97), Idaho (96.7) and North Dakota and Oregon at (95.8) ranking in the top five. Seventy-six of the 100 metro areas have MiMi values within range of their benchmark averages, with Honolulu, Hawaii (99.8), Nashville, Tenn. (100.2), Ogden, Utah (99.3), Dallas, Texas (99.2) and Provo, Utah (101), ranking in the top five.

The most improving states month-over-month were Nevada (+2.59 percent), Arizona (+1.54 percent), Massachusetts (+1.53 percent), South Carolina (+1.34 percent) and Colorado (+1.24 percent). On a year-over-year basis, the most improving states were Nevada (+11.74 percent), Florida (+11.58 percent), Massachusetts (+11.35 percent), Mississippi (+9.76 percent) and New Jersey (+9.61 percent).

The most improving metro areas month-over-month were Las Vegas, Nev. (+2.57 percent), Charleston, S.C. (+2.00 percent), Seattle, Wash. (+1.76 percent), Worcester, Mass. (+1.74 percent) and Springfield, Mass. (+1.52 percent). On a year-over-year basis, the most improving metro areas were Orlando, Fla. (+17.85 percent), Worcester, Mass. (+14.49 percent) Tampa, Fla. (+14.36 percent), Chattanooga, Tenn. (+14.20 percent), and Dallas, Texas (+13.89 percent).

“The recent jump in mortgage rates will drive down homebuyer affordability and likely dampen demand for home sales next year,” Kiefer adds. “Though we’ve come far, as indicated in the national statistics, housing still has significant room for improvement in many markets across the country as indicated by the fact that 24 out of the top 100 metros are still more than 20 percent below their historic benchmark, as measured by MiMi.”

For more information, please visit www.freddiemac.com/mimi.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Housing Continues to Progress, Still ‘Room for Improvement’ appeared first on RISMedia.

…read more

From:: Real Estate News

President-elect Donald Trump’s latest selection of leaders involves a new idea: the President’s Strategic and Policy Forum. The group is comprised of 16 CEO, which includes Stephen Schwarzman, chairman, CEO, and Co-Founder of Blackstone, and Jamie Dimon, chairman and CEO of JPMorgan Chase. …read more

From:: Real Estate Wire

PrimeLending, a PlainsCapital company, will soon begin offering closing cost assistance for low- and moderate-income homebuyers nationwide. Under the program, qualified borrowers could be eligible to receive up to $1,500 or $2,000 in closing cost assistance, dependent on their income and the location of the property they want to buy. …read more

From:: Real Estate Wire

Steven Mnuchin, a former executive at Goldman Sachs, former chairman of OneWest Bank, and President-elect Donald Trump’s choice to lead the Department of the Treasury, is resigning from the board of CIT Group, which bought OneWest in 2015. …read more

From:: Real Estate Wire

Bank of America is almost finished with providing $7 billion in consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac. …read more

From:: Real Estate Wire

Texas saw outstanding growth in home sales during 2016 in several areas including condo sales and new home sales. Not only there more homebuyers in the market, but they are also a more diverse group than in previous years. International homebuyers, women and first-time homebuyers are all making their mark in Texas real estate. …read more

From:: Real Estate Wire