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The most expensive listing in the U.S., a $295 million, 105,000-square-foot mansion in Los Angeles’ Bel Air neighborhood has just gone on sale.
If the home manages to fetch its $295 million asking price, it would set a new record for the most expensive home ever purchased in the U.S. The existing record is $238 million for a Manhattan apartment that was bought by hedge fund manager Ken Griffin.
The Bel Air mansion is known as “The One” and was built by Hollywood producer-cum-developer Nile Niami. It took almost a decade to build the home, which occupies four acres of space on a mountaintop in Bel Air. The property offers views of the Pacific Ocean, downtown L.A. and the San Gabriel Mountains and boasts 21 bedrooms and 42 bathrooms.
CNBC said the home was originally expected to be listed for $500 million. However, Niami racked up mounting debts as he built the home, and the mansion is now being sold as part of a bankruptcy agreement. The home was previously also the subject of lawsuits from lenders seeking to be remunerated for loans to Niami that were never paid back.
The bankruptcy agreement will force the home to be sold at auction to the highest bidder on Feb. 7 if it isn’t purchased beforehand. The auction has already been scheduled by Concierge Auction.
Bentley Motors is taking advantage of the red hot housing market by putting its branding on a luxury apartment project. The luxury automaker is partnering with Dezer Development on the Bentley Residences condominium in Sunny Isles Beach, Florida.
Construction on the first-ever Bentley-branded residential tower in the world will begin in 2023, the company said. It explained that it’s working with specially commissioned architects and the developer to translate its luxury car design into a “residential experience”. Each of the residences within the tower will have its own in-unit, multi-car garage and a patented car Dezervator, or car elevator.
Bentley will open a 12,000-square-foot sales gallery later this month in order to try and pre-sell the 216 private beachfront residences that make up the building.
Units start at $4.2 million, and each one will come with its own individual balcony swimming pool, an unobstructed view of the ocean and floor-to-ceiling glass windows, the company said.
“Bentley Residences will be a true branding experience from the unseen details to the unique way the buyers will be able to go home,” said Gil Dezer, president of Dezer Development. “Having four parking spaces adjacent to your unit with a swimming pool is a game-changer.”
A Florida mansion still under construction is breaking ground in more ways than one, for the developer is building not one, but two versions of it. One in the real world, and a second, digital twin in the metaverse.
One Sotheby’s International Realty has partnered with Voxel Architects and Gabe Sierra, a collector of nonfungible tokens – NFTs – to create the “MetaReal” mansion. The collaboration is said to be the first home sale of its kind in the real estate industry.
The virtual home will be located in The Sandbox metaverse and, while the physical building is under construction in Miami, and will be completed by the end of the year.
“This is another leap into bridging physical and digital worlds into the metaverse,” said The Sandbox co-founder Sebastien Borget.
Whoever purchases the home will obtain the rights to both the physical and the digital version. The sale will include an NFT, which is a digital asset that’s attached to the blockchain and can be bought and resold.
Having a vacation rental home (or several units) in Aspen is an excellent investment. This is a popular luxury resort destination with activities for all four seasons. There is much to do and enjoy in this mountain paradise all year round, from the fantastic skiing in winter to the hiking, biking, golf, and fishing in summer.The housing market is chilly as of December
You will find numerous reasons to purchase an investment property in the Roaring Fork Valley. You might use it as a second home or vacation property for certain times of the year. During the other time, you can rent it out. You may earn a decent income while also watching the property value go up over time if you rent your home or condo. The Aspen real estate market continues to expand, and house values in this location continue to rise every year. It is one of the world’s most sought after active luxury markets!
While property prices remain high, it is apparent that the Aspen real estate market is an excellent long-term investment. Let’s take a look at what this neighborhood has to offer the potential buyers.
Aspen-Snowmass Continues To be A Popular Tourist Destination
Whatever happens around the globe, travelers will continue to flock to the Aspen-Snowmass area because of its beauty, recreational options, and relaxed, affluent lifestyle.
Finding the right mortgage can be a daunting task. You want to make sure you get the best deal possible, but you may not know where to start. That’s where a mortgage broker comes in. A mortgage broker can help you find the best mortgage for your needs and budget. They can also help you navigate the complex world of mortgages and ensure that you get the best deal possible.
However, not all mortgage brokers Charlottesville, VA are created equal. You want to make sure you find a good mortgage broker who will look out for your best interests and help you get the best deal possible. Here are some qualities to look for in a good mortgage broker.Happy couple clients laughing at funny joke meeting realtor, mortgage insurance broker or consultant, cheerful happy family customers having fun planning to sign contract buying services, taking loan
1. They’re Ready and Able to Work with You
First and foremost, you want a mortgage broker that is ready and able to help you find the best mortgage possible. This means they should be willing to work on your schedule, not theirs. In addition, they should have access to a wide variety of lenders so that they can offer you a number of different mortgage options. That way, you can find the mortgage that best meets your needs.
2. They Have Good Customer Service Skills
A good mortgage broker will treat you with respect and courtesy, and be accessible when you need them. In addition, they should also be able to answer your questions in a clear and precise manner so that there is never any confusion about what’s going on or the next steps in the process.
3. They’re Knowledgeable About Mortgages
Work with someone who knows the ins and outs of mortgages, what rates are offered by which banks, and how to estimate your monthly payments based on down payment options. This way you can rest assured that you will always get the best deal possible for your money regardless of which mortgage you choose. You can determine a broker’s knowledge by asking what rate they would qualify for and then checking the banks to see if they’re offering those rates currently.
The second American Dream is owning your home free and clear. It comes right after buying a home in the first place. Millions of Americans take action to pay off their homes early instead of dragging it out for 30 years at an extra cost of tens of thousands of dollars. However, there is a right time and the right methods to go about this. For a primer on how to do it correctly, read the article: How to Pay Off Your Mortgage in a Few Short Years.
On the other hand, some methods don’t make good financial sense…
Don’t Pay Others to Pay Off Your Mortgage Faster
It doesn’t make sense to pay a third party to arrange to pay off your mortgage early. As the housing market continues at a blistering pace, many different types of buyers are getting into the market. First-time buyers are getting in, some people are buying up, baby boomers are looking for retirement homes, along with people that have many other situations.
Also in the market are questionable businesses offering to shorten the length of your mortgage to save you tens of thousands of dollars by paying off your mortgage early. For the most part, you don’t want to engage their services. In fact, back in 2015, the Consumer Financial Protection Bureau sued Nationwide BiWeekly Administration Inc. This company promotes a program called Interest Minimizer as a way for homeowners to save thousands of dollars over the life of their mortgages.
In September of 2017, a federal court in California rendered a judgment against Nationwide BiWeekly for a civil penalty of $7 million. The court also ordered both parties to work together towards a resolution that would allow Nationwide to resume the Interest Minimizer program but require it to correct certain misleading promotional aspects.
As a startup owner, you might assume that branding is only essential for big enterprises like Apple, Google, and Burger King. However, branding is necessary for startups as your company’s identity; your audience won’t find you without an identity.
Unfortunately, because branding is often seen as a costly project that can be avoided, many startups fail after neglecting to create an identity that enables them to stay in the market for long.
And while you must consider the characteristics that make a strong brand when creating your identity, you can also minimize your costs by using online tools that simplify graphic logo design. There are tons of tools out there to help you create a strong brand.
Furthermore, you can also lower your costs when crafting your branding strategy with these budget-friendly options.
Use A Strategic Story
A strategic story is an often-overlooked component of branding. However, some of the most iconic brands have found success thanks to a strategic backing story or company mission.
Getting into real estate for the first time can be an exciting experience for new agents. The thought of helping people find their dream homes might be your idea of the perfect job, especially when you factor in the unlimited earning potential.
But the fact is, new agents can get in over their heads pretty quickly, which is why it can help to have some guidance, some mentorship.
If you’re a new real estate agent, here are a few tips to help you hit the ground running with confidence.
1. Find the Right Firm
One of the most important things you can do for your real estate career is to find the right firm. Not all real estate brokerage firms are going to be the same. That’s why you should do your research. Ask around. Join a Facebook group and ask members about their experiences with different firms. Make sure that the firm you choose has goals that align with yours.
Finding a real estate technology that focuses on marketing is an absolute must in order to remain competitive in the industry. Real estate professionals need to be able to leverage tools such as real estate CRM platforms that can do everything they need and more, and finding such a platform can be a challenge – oftentimes you can find one that does a few of the things you need, but not all of them.
This is where BoomTown, billed as an “all-in-one” real estate CRM and marketing platform, shows the most promise. The biggest draw that BoomTown offers, and delivers on, is how this single platform can indeed act as a fully-fledged ecosystem for accomplishing these tasks. There are some downsides to this approach – and we’ll showcase them in time – but let’s get started on looking at the robust feature set that this real estate software brings to the table.
An Exhaustive List of Features
BoomTown bills itself as the one real estate software platform to rule them all, and it lives up to this claim quite well. The number of tools and features that the platform offers is nothing short of exhaustive, with everything from marketing automation and lead generation to metrics analysis and more, BoomTown covers just about every single topic any real estate professional needs to address.
There is a pretty steep downside for all this comprehensive functionality, however. The cost of all these capabilities are quite high and necessitate a very complex pricing structure with multiple tiers. Yet even the lowest pricing tier offers an enormous number of features that are highly valuable. These features include lead qualification and distribution, custom email marketing drip plans, access to a mobile app, and an IDX website. Even more features become available as you progress up the tiers, up to and including a full lead management suite.
Further Feature Highlight
One of the most useful features that BoomTown offers as a standard with its lowest pricing tier is its IDX-enabled consumer-facing lead generation website. Such a site is always a high priority for real estate professionals, as IDX sites offer powerful search capabilities that let users perform as specific a search as they like, all the while being presented with contact information for the real estate agent every step of the way if they want to learn more about the property. Users can even create account profiles and receive email notifications when new properties that meet their search criteria get added. Meanwhile, sellers are also served by these IDX websites, as its integrated home valuation tool acts to attract sellers as leads as well.
JPAR® – Real Estate, America’s #1 fastest-growing,100% commission brokerage is pleased to recognize its “TOP 5” agents for 2021 in year-over-year growth in sales volume and transactions growth.
“The growth in year-over-year production speaks to quality of professionals in our organization,” said Mark Johnson, president, JPAR® – Real Estate. We have quickly become the #1 independent brokerage in Texas by affiliating with highly productive & influential industry leaders and their success is proof positive of our value proposition to them and their customers,” added Johnson.
Top 5 in Year-Over-Year Sales Volume Growth:Cassie Messer Samons Nita AdvaniConnie Segovia CantuBelinda Carrigan DuffSasha S. Jam
“The JPAR brand and culture has empowered me to grow my business to new heights,” said Cassie Messer Samons, Real Estate Sales Associate, Dallas. I love the culture and the people,” added Samons.
Top 5 in Year-Over-Year Sales Transactions Growth:
Engel & Völkers Florida, the master franchisor for the international real estate brand in the State of Florida, today announced it has named Peter Giese as their Chief Executive Officer. Giese has been part of the executive team since 2019, acting as Chief Growth Officer. The appointment comes as Managing Partner, Timo Khammash and Co-Owner, Oliver Tonn have decided to step back from their daily roles.
“I will continue to be involved with the company that I am so proud to have founded, but now in a different capacity,” said Khammash. “Over the last two years, Engel & Völkers Florida has grown to new heights, achieved impressive milestones, and surpassed our goals. I am confident that Peter has settled into a leadership position within our team, and is ready to take the already excellent results and continue to grow to an even higher level.”
Giese came to Engel & Völkers Florida from United Real Estate where he served as President & Managing Partner, delivering record industry growth by expanding the company from a startup company-owned brokerage to over 80 franchise locations with more than $4.5 billion in annual sales in under five years. Prior to his position at United Real Estate, he was Senior Vice President of Franchise Sales and Development for Fortune 500 company, Realogy, where he led the global company in new franchise sales, mergers and acquisitions.
“The momentum Peter generated in his position as Chief Growth Officer and his excellent leadership skills were key factors in our decision to promote him to CEO,” said Tonn. “I’m looking forward to working closely with him to continue our success in the State of Florida.”
Engel & Völkers Florida aims to expand its franchise presence in several untapped markets and submarkets, as well as gain additional market share in existing territories over the next two years. Giese is hyper focused on the following initiatives: opening 12 New Engel & Völkers shops in 2022; surpassing 1,000 real estate advisors affiliated with Engel & Völkers in Florida; closing over 10,000 transactions annually, and reaching $200 million in gross commission income within the next 2 years.
Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to email@example.com.
Question from James in TX: Hello Brian, my brother and I inherited a 40-acre piece of property recently. It’s a flat piece of property less than a mile outside of a small town with a population of about 12,000 people. Many more people live in the surrounding area on acreage or at least large lots that have been individually developed. We don’t have a use for the 40-acres now or in the future. However, we would like to maximize the value. We’ve watched the population of the area grow for the past 15 years. We think there might be good money to be made by developing the acreage into a residential development with large lots (1/2 acre each). We know that we have a lot to learn before taking on this venture and that we’ll need to raise money. To get started, we just want an answer to a basic question. How do real estate developers make money? Thanks in advance.
Answer: Hello James. In short, property developers make their money by maximizing the value of the land they are working with. You’ve stated that your goal is doing this by developing residential houses, so I assume you know that the property is zoned for this. Otherwise, you need to start by looking into whether the zoning can be changed. Many rural areas limit how small you can subdivide property along with having “use” restrictions. A successful developer doesn’t try to fit a square peg into a round hole. That means not trying to develop something that has too many unknown variables. It’s a step-by-step process that when followed correctly will result in a handsome profit.
With that said, a 40-acre development would be considered a moderate project in areas with a larger population but is a large project according to the way you describe the surrounding area. Because you will have to bring in other investors, I suggest you begin by engaging a real estate attorney to decide how to structure the business. It could be you and your brother operating a business entity such as an LLC that takes the largest risk. Since you already own the land, that should serve as your primary investment in the project and satisfy other investors who will insist that you have skin in the game.
Most investors still won’t put money in the deal until zoning laws are aligned with the project and permits are available. This requires you, as the developer, to perform due diligence that also includes market analysis and Pro forma financial reports to entice early investors. Investors will most likely be equity partners that own a substantial portion of the end profits. Your equity in the land will be your primary source of profits from the project. The developer typically collects developer fees as the project progresses that range from 5% to 10%. Many developers continue as property managers until all the houses are sold. All of this requires an individual developer to hire a team of specialists to bring the project to fruition (architect, civil engineer, general contractor, project manager, realtor, etc.). According to the National Association of Home Builders (NAHB), developers average about $3 million in gross profit on $16.23 million in revenue. That’s an 18.9% percent profit.
Many real estate agents and brokers are using social media to promote themselves and their listings.
In this article, we present you the top 20 Hispanic real estate agents on Instagram. The accounts included in this top are those belonging to real estate professionals who are currently active on Instagram.
You’ll see that the difference between the first position and the last one on this top, based on the number of followers, is quite big. Each account has something special though and, in fact, there are many more wonderful Instagram feeds belonging to Hispanic real estate agents who were not included just because their following is smaller.
If you have an account belonging to a Hispanic real estate agent that you love, feel free to recommend it in the comments below!Jhonnathan Villarreal Navarro (41.3k followers) is a Real Estate Agent in the States Georgia and Florida with Virtual Properties Realty. His instagram feed is well branded and has information on new listings and sold properties, as well as news, and useful details, all in Spanish.Melissa Gutierrez (16.5k followers) is a real estate agent/broker at Compass. She has great results, but also a great following on instagram and a feed that catches your eye: listings, cool photos, quotes, and more.Carolina Hernandez (8.5k followers) is a realtor at at Keller Williams Studio City California. Her insta feed is a collection of photos and short videos with listings, the team, everyday activities, and motivation and inspiration posts.Silvano Barocio (8.5k followers) is a real estate agent, founder and CEO of The Barocio Group. On his instagram feed you can find informational posts, a few family photos, listings, and a few short videos.Diana Hernandez (7.8k followers) is a real estate professional at CENTURY 21 Allstars. Her feed includes selfies and photos from her daily life, as well as listings.David Castillo (5.7k followers) is a real estate agent at eXp Realty in Wisconsin. His insta feed includes photos of listings and sold properties, as well as short videos – “2 minute drill”- with various topics.Brenda Camacho (5.6k followers) is a realtor at La Rosa Realty in Orlando, Florida. Her feed is very well branded and includes a mix of videos with different topics and designs. Her content is part in English, part in Spanish.Lilliana Matos (4.6k followers) is a realtor at eXp Realty of California, Inc. Her insta feed has many short videos on various topics – new real estate agents joining the company, listings, announcements, and more.Victor Castro (3.7k followers) is a real estate agent who’s instagram feed includes posts in English and Spanish. You’ll find here short videos, listings, and a few personal posts.Veronica Gonzalez (3.1k followers) is a realtor at Nexgen Real Estate. Her feed has some posts in Spanish and others in English and they’re focused on listings, interesting information and everyday life posts.Leonardo Rojas (3.1k followers) is a realtor at EmyLee Realty Group LLC. His feed is a cool mix of real estate content (mainly listings) with lifestyle: photos from his travels and important moments.Yusdel Espinosa (2.9k followers) is a licensed real estate agent and realtor in Naples, Florida, with MVP Realty Associates. His instagram feed includes videos with market updates, listings, and useful real estate information and updates.Juan Osorio (2.8k followers) is a real estate agent at RE/MAX Metro Realty. If you’ll follow him on instagram, you’ll see his new listings, but also photos from his travels and from his favorite activities.Nury Wood (2.4k followers) is a realtor with The Brooks Home Team at eXp Realty. While she doesn’t post too often, you can follow her to discover her new listings, useful real estate information posts, and even a few photos from her family.Alexus Cuellar (2.3k followers) is a real estate agent at Nextgen Real Estate. Her instagram feed is a collection of listings and what happens in the life of a realtor posts.Jocelyn Russo (2.3k followers) – is a Montclair, New Jersey, realtor. Her feed includes clients’ success stories, interesting videos, news, recommendations, selling secrets, and more.Karla Nevarez (2.1k followers) is a realtor in Chicago at Extreme Realty LLC. From listings to testimonials, and from photos from sold properties to pictures from her life as a real estate professional, you can find them all on her insta feed.Anna Mora (1.9k followers) is a real estate agent at Walzel Properties in Texas. Starting October 2021, she has been a lot more active on instagram with posts focusing on tips for buyers, listings, and personal photos.Juan Coria (1.7k followers) is another realtor at The Barocio Group who makes it to this top. His instagram feed is mainly photos of properties (usually in Spahinsh) and information about sold houses as well as a few everyday life photos.Daniela Boyle (1.6k followers) is a realtor at Interealty Exchange in Miami. Her instagram feed is a mix of daily life photos and short videos of new listings.
HVAC systems keep people cool during the summer season, and warm during the winters while improving indoor air quality. Because of extreme climate fluctuations in most parts of the world nowadays, HVAC systems are increasingly becoming an essential component in both commercial and residential spaces.
The Heating, Ventilation, and Air Conditioning (HVAC) system, among all property-related appliances, is one of the most critical devices to maintain and monitor, especially in climates like Australia, where an HVAC system needs to operate continuously all year round.
Real estate investors should know that the key to maximizing return on investment is limiting recurring expenditures. For this reason, property investors should pay due attention to the air-conditioning, heating, and ventilation system to avoid large financial losses.
Below is a list of different things that will not only help real estate investors learn more about HVAC systems, but will also enable them to save hundreds of dollars.
Types of HVAC Systems
WeWork co-founder Adam Neumann wants to take advantage of the sky-high demand for rentals and rising rent costs to create a new firm that will shake up the apartment industry.
Neumann, who left the co-working space giant WeWork in September 2019, has reportedly purchased more than 4,000 apartments worth over $1 billion in Florida cities Miami and Fort Lauderdale, plus Atlanta, Nashville and other prominent U.S. metros.
The Wall Street Journal said Neumann is aiming to create a “recognizable apartment brand” that will appeal to younger professionals – the same target market he went after when serving as WeWork’s chief executive officer.
D.J. Mauch, a partner in Neumann’s family office, told the Journal in an interview that he has been excited by the idea of multifamily apartment living in vibrant cities that “redefine the future of living”, that appeals to many young professionals.
“We’re excited to play a role in that future,” he said.