West Valley Properties

Real Estate Investing: Judging Home Value

Seth Pattison — Tue, 15 May 2012 13:06:52 +0000

Q: I put an offer in at 20 percent above the asking price for a property in the neighborhood. The house was originally priced about $70,000 and then later reduced it to about $50,000.

We don’t know why the owners reduced the price. We put in an offer at around $60,000 as the sellers called for the highest and best offer.

Even though the sellers asked for the highest and best offer, I get the feeling that we could be in for another round of bidding. Can you offer any guidance as to whether I should offer more money or stay at the price we bid. I

Manhattan Office Sold for $131.7M to Epic

Archer Kaleski — Sat, 12 May 2012 23:40:08 +0000

Property Group Partners (PGP) has closed the sale of 148 Lafayette Street in Manhattan’s SoHo neighborhood to Epic UK for approximately $131.7 million, according to a GlobeSt.com article. Douglas Harmon, Adam Spies and Kevin Donner of Eastdil Secured represented PGP in the transaction. PGP owned the building in partnership with Bruce Toll and members of the Louis-Dreyfus family. The terms of the deal were not disclosed.

“The sale of 148 Lafayette Street validates our original strategy with this building,” said Jeffrey I. Sussman, founder and president of Property Group Partners, in a CoStar article. “With our partners, we recognized that a complete renovation and expansion would vastly improve this asset for both tenants and investors.

Ballard Locks New Modern Construction

Seth Pattison — Sun, 06 May 2012 05:11:14 +0000

Greenleaf Construction has built 3 units. A single and a duplex a block away from the Ballard Locks.

Genting cools interest in buying Miami-Dade School District property

Christopher Eggers — Sat, 05 May 2012 23:33:45 +0000

The cash-strapped Miami-Dade School District has several options to consider from developers interested in buying its prime downtown real estate, but interest has cooled from its biggest suitor the Genting Group.

In December, the Malaysian investors told the School Board they were interested in buying the districts downtown property, which spans more than 10 acres of parking lots and office buildings on eight separate parcels.

But on Monday, the group said it is pursuing scaled-back plans for a luxury development for now without a casino on The Miami Heralds bayfront property, which Genting purchased last year from the newspapers parent company.

Property sector ignored in Budget

Archer Kaleski — Sat, 05 May 2012 15:20:26 +0000

Treasurer Wayne Swan has hailed Australia’s economic strength, with the budget heading back to surplus

Treasurer Wayne Swan says even a slender surplus is impressive compared to other countries.

WAYNE Swan’s austerity Budget overlooked a weak property and construction sector but is likely to bring rate relief for homeowners.

Financial talk show host Anthony Cutaia gets 4 years for $1.5 million scam

Christopher Eggers — Thu, 12 Apr 2012 21:12:37 +0000

WEST PALM BEACH — When Palm Beach Gardens Police Chief Stephen Stepp was looking for a safe place to invest his retirement nest egg, he turned to a Boca Raton man who gained respectability dishing out financial advice on weekly TV and radio shows and headlining investment seminars.

On Monday, Stepp said he was embarrassed to admit that he hadnt recognized Anthony Cutaia for what he was: a con man.

He was an unbelievable scammer, Stepp told U.S. District Judge Daniel T.K. Hurley. He was a master.

Stepp, who lost most of the $150,000 he invested with Cutaia, was not alone. Greg Stine, a retired special agent for what is now the U.S.

Mobile Home Park Investments – Pros and Cons To Mobile Home Park Investing

Archer Kaleski — Wed, 11 Apr 2012 19:17:17 +0000

Mobile Home Parks, A Lucrative Real Estate Niche Not Many Investors Know About. Here’s What You Need To Know About Investing in a Mobile Home Park…

Benefits of Hiring Moving Company

admin — Mon, 09 Apr 2012 10:57:16 +0000

Hiring a moving company is one of the best decisions that you will ever make. While many still prefers the traditional “DIY” moving process, many people have seen the endless benefits of hiring a moving company than going the conventional way. If you are still thinking twice about it then here are some of the benefits of hiring localmovingcompaniesinDenver:

Safety

Professionals do what only a professional can do. Now, this clearly says it all. While it is true that you can just ask your friends to carry those heavy boxes and furniture into the moving truck, you cannot ask them to safely do so because they are not professionals who can has the ability to calculate this. Pro Read more…

CoStar’s People of Note (March 25-31)

Seth Pattison — Sun, 08 Apr 2012 15:06:39 +0000

NATIONAL Holliday, Fenoglio Lead Veteran Team to CBRE By Laurie Forbes CBRE recruited Harold E. (Hal) Holliday, John T. Fenoglio, David M. Aaronson and James M. Richards Jr. as executive vice presidents. The brokers will serve in the mortgage brokerage’s debt and equity finance group in Houston. The team previously worked at Grandbridge Real Estate Capital. Holliday has nearly four decades in mortgage brokerage and co-founded Holliday Fenoglio. After HF’s acquisition by Amresco 18 years ago, he successfully led the firm’s commercial mortgage banking business and launched Amresco’s multifamily lending programs for Fannie Mae and Freddie Mac. After t Read more…

Existing-home prices rise slightly

Seth Pattison — Wed, 04 Apr 2012 23:24:49 +0000

Average prices for existing homes in the U.S. are higher on a yearly basis, the National Association of Realtors (NAR) said in a recent report.

According to the NAR, the national median existing-home price rose 0.3 percent year-over-year in February to $156,600. Distressed homes (foreclosures and short sales), which are typically sold at large discounts, made up more than a third (34 percent) of all February sales, which is a drop from the 39 percent seen a year ago in February 2011.

Supply and demand have become more balanced in more markets, but with tight supply in the lower price ranges – particularly in the West, Moe Veissi, NAR President, said in a statement. W

Parc 55 Wyndham Sold for $235M

Archer Kaleski — Wed, 04 Apr 2012 07:09:53 +0000

New York-based Blackstone Group successfully acquired Parc 55 Wyndham from Rockpoint Group for $235 million, or $231,984 per room, in a distress sale according to a CoStar report. No brokers were named in the deal and terms were undisclosed.

A Bloomberg report earlier this month noted that Blackstone, which owns the Hilton Worldwide chain, would hold 75% of Parc 55, and Boston-based Rockpoint Group,would own most of the rest after investing $10 million of new equity.

Property bubble and burst unlikely in Brazil

Christopher Eggers — Mon, 02 Apr 2012 19:42:19 +0000

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Ilyce Glink Show – 2012 Tax Season – March 25, 2012

Seth Pattison — Thu, 29 Mar 2012 01:14:55 +0000

The 2012 tax season is in full swing. My guests this week include Enrolled Agent and owner of Brookwood Tax Service, LLC, Chet Burgess, Merry Brodie, an Enrolled Agent and owner of several Jackson Hewitt Franchises in the Atlanta area, and Bill Nemeth, an Enrolled Agent who is president of the Georgia Association of Enrolled Agents. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show March 25, 2012 on WSB Radio.

Its tax time! Business returns were due just a few days ago on March 15th, clearing the way for us to focus on personal returns.

Lenders show signs of returning to S. Fla’s condo construction market

Christopher Eggers — Wed, 28 Mar 2012 00:58:40 +0000

As developers move forward in the planning of at least 26 new condo towers in South Florida, signs are emerging that lenders are growing increasingly more eager to finance residential-oriented projects, including even condo towers that were blacklisted a few years ago.

Lenders have provided at least $775 million in financing for at least 17 projects in Miami-Dade County in the last six months dating back to October 2011.

The newly provided financing is slated to be used for a variety of residential purposes ranging from condo construction to condo developer refinancing, condo bulk purchases to land loans.

West Valley Properties

Real Estate Investing: Judging Home Value

Manhattan Office Sold for $131.7M to Epic

Ballard Locks New Modern Construction

Genting cools interest in buying Miami-Dade School District property

Property sector ignored in Budget

Financial talk show host Anthony Cutaia gets 4 years for $1.5 million scam

Mobile Home Park Investments – Pros and Cons To Mobile Home Park Investing

Benefits of Hiring Moving Company

Safety

CoStar’s People of Note (March 25-31)

Existing-home prices rise slightly

Parc 55 Wyndham Sold for $235M

Property bubble and burst unlikely in Brazil

New to PropertyWire?

Ilyce Glink Show – 2012 Tax Season – March 25, 2012

Lenders show signs of returning to S. Fla’s condo construction market

Four in ten UK first time buyers have benefitted from stamp duty holiday

New to PropertyWire?