Category: Uncategorized

By Susanne Dwyer

Housing in the U.S. and in markets abroad is categorically intertwined, with conditions globally mirroring those happening at home: climbing prices, dwindling stock, and an outpouring of demand.

A series of reports recently released by Engel & Völkers highlight those similarities, as well as unique dynamics, of five international housing markets:

Barcelona

“Even though the level of construction has gone up, demand still significantly exceeds the availability of homes.”
– Oriol Canal, Managing Director
Engel & Völkers Market Center Barcelona

Homebuyers the world over are investing in Barcelona, with special attention paid to properties in sought-after Zona Alta—or “high area”—where price-per-square meter can reach up to 12,000 euros (approx. $13,680). Foreign buyers are also interested in Diagonal Mar, where prices can parallel those in Zona Alta, and Exiample, where prices are slightly less. International buyers in Barcelona originate from all corners of the globe, including Argentina, Bulgaria, China, France, the Middle East and Russia.

Madrid

“Whilst the prime locations saw the most dynamic growth…the average locations are now catching up. We see this development as a positive sign that the residential property market in Madrid is now in a period of recovery.”
– Paloma Pérez Bravo, Managing Director
Engel & Völkers Market Center Madrid

Spain is also experiencing an influx of residents to Madrid, where the majority of homebuyers are searching in Centro, Chamartín, Chamberí, Hortaleza, Retiro and Salamanca. Chamartín boasts the highest price-per-square meter at up to 15,000 euros (approx. $17,100), specifically in the El Viso neighborhood, while other areas range from 8,000 euros (approx. $9,120) to 12,800 euros (approx. $14,595) per square meter. Foreign buyers in Madrid tend to be from Spanish-speaking countries, like Colombia and Venezuela, or from France, Switzerland or the UK.

Majorca

“Compared to the previous year we have seen an increase of 25 percent in the average sale price in the southwest [of Majorca]. We are also seeing a rise in demand for properties over 20 million euros, including from new source markets such as the U.S. and Scandinavia.”
– Hans Lenz, Manging Director
Engel & Völkers Majorca Southwest

Home prices on Majorca rocketed in the last year, from 1.68 million euros (approx. $2 million) to 2.11 million euros (approx. $2.4 million). Properties with Mediterranean Sea views are most in-demand, especially those in Bendinat, Portals, Puerto de Andratx and Santa Ponsa. Foreign buyer interest generally extends from Great Britain, Germany and Switzerland.

Rhodes

“The political situation in Greece has improved significantly; we are therefore expecting property prices to rise further in the long term. We are optimistic that foreign buyers and investors will continue in the future to invest in holiday properties of intrinsic value on the island.”
– Georg Petras, Managing Partner
Engel & Völkers on Rhodes

The housing market on Rhodes is on the upswing, with homebuyer inquiries for oceanside vacation properties soaring 57 percent in the past year. Lindos, Pefkos and Vlicha are the most popular areas for …read more

From:: Real Estate News

By Susanne Dwyer

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

• Top 10 Plants for Designing a Water-Wise Landscape
• A Picture-Perfect Canvas in Vail Valley
• 8 Ways to Make Your Backyard a Summer Paradise
  

Before selling his Miami beach pad, rapper Lil Wayne was living that Tracy Jordan life:

Image Credit: GIPHY

Thanks to his very own shark shallows, every week was Shark Week.

Wayne’s shark-infested lagoon surrounds a glass elevator leading up to the two-story master suite. Take a second to imagine that: riding up an elevator surrounded by glass…and sharks! Talk about getting up close and personal. You can definitely go ahead and cancel that cage diving excursion on your next vacation.

We have so many questions. Did Weezy hire outside help to feed the sharks and maintain the pool? How many sharks did he have and did he name them? Did he ever go swimming with them after an all-night rager with his crew? Lastly, why was “MTV Cribs” cancelled?

In non-shark related news, the rest of the home is adorned with a rooftop skate park overlooking an oceanfront view and also a (probably) shark-free swimming pool. A three-story wall of windows overlooks the home’s private dock. And since he’s Lil Wayne, there’s obviously a recording studio, in addition to multiple kitchens and a three-car garage.

The 15,000-square-foot, nine-bedroom mansion was originally on the market for $18 million in 2015, but recently sold for $10 million. Wayne paid $11.6 million in 2011.

Image Credit: Trulia/AD

Nick Caruso is RISMedia’s senior editor. Email him your real estate news ideas at nick@rismedia.com.

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

The post Lil Wayne’s Miami Party Pad Has a Pool Full of Sharks appeared first on RISMedia.

…read more

From:: Real Estate News

By Suzanne De Vita

RISMedia to Release White Paper Investigating Industry ‘Disruptors’

Thousands of real estate professionals have spoken, and the vast majority have concluded that Zillow Instant Offers represents a negative addition to the real estate market for consumers, and another step towards Zillow’s alleged attempt to disintermediate brokers and agents and go directly to homebuyers and sellers.

According to an RISMedia Survey launched shortly after Zillow’s introduction of Instant Offers in two test markets—Orlando, Fla., and Las Vegas—nearly 87 percent of respondents consider the introduction of Zillow Instant Offers as a shift towards Zillow to become a real estate brokerage, a strategy that has been anticipated by many since Zillow’s formation in 2006.

Zillow Instant Offers allows home sellers to directly receive all-cash offers from a group of 15 large private investors, who are either licensed as brokers or use a third-party broker license. Offers will be managed by dotloop, which will connect the seller and the investor. While home sellers are encouraged to use a real estate agent to transact the deal, they are not required to do so. Zillow Premier Agents are looped in to prepare the CMAs in their respective markets.

“We have no intention of becoming a brokerage,” says Zillow in a statement to RISMedia. “We have always felt, and will continue to maintain, that agents are a crucial part of the real estate transaction and our goal is to find ways to continue to integrate them in the transaction process, even as the process continues to grow and evolve.”

“Whether it is Zillow’s intent or not, their actions speak louder than words,” counters Candace Adams, president and CEO of Berkshire Hathaway HomeServices New England Properties/New York Properties/Westchester Properties. “Licensing authorities and the courts will make the final judgment as to whether they are operating as a real estate ‘broker.’ What we call ‘traditional brokerage,’ in the sense of agents bringing buyers and sellers together, has already evolved to a professional model. The professional is the most important component of a transaction. Local knowledge and expertise as well as a solid skill set of a professional is critical to the transaction more than ever.”

In its forthcoming White Paper, “The Disruption of the Real Estate Industry: A Survival Guide,” RISMedia will provide the complete results of its Zillow Instant Offers survey, as well as research on the many new business models penetrating the real estate landscape, and strategies for evolving your business to compete. Pre-order your copy at a special discounted rate now.

Offering a counter perspective to the majority, Burke Smith, chief development and learning officer for the Realty ONE Group franchise, does not believe Instant Offers is an attempt by Zillow to become a brokerage.

“This is a gimmick, and if it creates a few extra deals for traditional agents while also shining a needed spotlight on NAR and the state associations to help drive more business to local real estate agents, then I’m all for it. I believe NAR’s new CEO is up …read more

From:: Finance and Economy