DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Robert Davis"


25 mentions found


☆ Cities across the Southeast and Texas will be the hottest places for homebuyers in 2023, the National Association of Realtors predicts
  + stars: | 2022-12-14 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
Atlanta, Raleigh, and Dallas are expected to be the top-3 real-estate markets in 2023, NAR researchers predicts. These markets have renters who can afford to buy homes and experienced strong job growth over the last year. In addition to Atlanta, NAR researchers notes in the report that Raleigh and Dallas have also become two of the country's fastest-growing employment hubs. This is one reason why Yun predicts that existing home sales will dip to 4.78 million next year from 5.13 million in 2022. Meanwhile, Yun predicts that mortgage rates will settle around 5.7% in 2023, which is still almost double the rate that homebuyers were able to get before the pandemic began.
☆ Homebuilders are fronting thousands of dollars in cash to help buyers reduce their mortgage rate and make homes more affordable
  + stars: | 2022-12-13 | by ( Robert Davis | ) www.businessinsider.com   time to read: +6 min
Mortgage rate buydowns are a home financing tool that provides buyers with a lower interest rate. Homebuilders are employing rate buydowns the most in areas where home prices are falling the fastest. A prevalent trend that builders are leaning into in order to help them sell more homes amid an increasingly tough economic climate is paying for mortgage rate buydowns for prospective buyers. A rate buydown is an upfront payment for "discount points" at closing to reduce the rate on a fixed-rate mortgage term. The company is offering what's known as a 2-1 buydown where a buyer's mortgage rate is decreased by 2% during their first year and 1% in their second year before returning to a fixed rate for the remaining duration of the loan.
☆ One of New York's largest commercial landlords is spending $1.5 billion to convert office buildings into apartments as office vacancy rates remain elevated
  + stars: | 2022-12-10 | by ( Robert Davis | ) www.businessinsider.com   time to read: +5 min
Prior to the pandemic, office buildings were the lifeblood of central business districts across the country. For example, data from commercial real estate giant CBRE shows that about 25% of all New York's offices remain available for lease while other markets, like San Francisco and Boston, face similarly high vacancy rates. Silverstein's move also comes at a time when commercial real estate property values are declining. According to a November study from RentCafe, developers created more than 28,000 apartments through conversion projects in 2021, an increase of 25% when compared to 2020. Sage acquired Econo Lodge and a Travel Lodge in Tacoma, Washington for $14.2 million and plans to convert both buildings into apartments.
☆ A luxury-furniture CEO warns that 'the housing market is collapsing at a level I haven't seen since 2008'
  + stars: | 2022-12-09 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
RH CEO Gary Friedman told investors on an earnings call this week that the housing market is collapsing. He previously told investors that "anyone who doesn't think we're in a recession is crazy'"Other real estate experts think the market data isn't a perfect indicator of future performance. He points to low homebuyer demand and the Federal Reserve's aggressive interest rate hikes to tame inflation for the market decline. "The housing market has collapsed, and it's gone down pretty viciously as interest rates went up," Friedman said during the call. Meanwhile, Friedman estimated that the luxury housing market, which is RH's primary market, could see a 35% to 40% decline in activity in Q4 because of high interest rates.
☆ Regular homebuyers feel they struggle to compete with investors who turn properties into Airbnbs and Vrbos. Government officials are trying to change that.
  + stars: | 2022-12-07 | by ( Robert Davis | ) www.businessinsider.com   time to read: +6 min
Atlanta lawmakers want short-term rentals to be licensed and to fine owners who violate city laws. In some cities, government officials are trying to regulate the number of short-term rentals that investors can purchase. The debate over short-term rentals in Atlanta is emblematic of similar debates in other cities. For instance, voters in Colorado towns like Dillon, Aspen, and Steamboat Springs this year approved measures to tax short-term rentals to help regular homebuyers afford homes. There are more than 1,300 short-term rentals in Joshua Tree, according to AirDNA, compared with a population of 7,700.
☆ Homebuyers will flock to the Midwest in 2023 because prices will still be too expensive in coastal states, a Zillow economist predicts
  + stars: | 2022-12-06 | by ( Robert Davis | ) www.businessinsider.com   time to read: +6 min
The Midwest could be 2023's hottest housing market because it's affordable, one Zillow economist said. Buyers may look at cities like Chicago, Indianapolis, and Cleveland, where prices have remained stable. Homebuyers in expensive markets like Denver, New York City, and San Francisco were routinely searching for homes in less expensive midwestern markets, the report added. The typical home in Milwaukee is $181,000 while in St. Louis, buyers should expect to spend $176,500, Zillow suggests. But waiting out this market may not be the best approach for buyers ready and able to buy now."
☆ Florida homeowners got swindled by brokers who paid them a paltry sum in cash upfront for the rights to sell their properties for 40 years
  + stars: | 2022-12-02 | by ( Robert Davis | ) www.businessinsider.com   time to read: +5 min
A Florida brokerage had offered homeowners upfront cash payments in exchange for exclusive rights to sell their property. Florida's attorney general alleges MV Realty's 40-year homeowner agreement is "deceptive" and "unconscionable." Roy Brightwell, 70, is one complainant that the Tampa Bay Times interviewed about his experience with MV Realty. The lawsuit claims that MV Realty's agreement is illegal under Florida law because it does not meet the statutory requirements for liens. When asked about the pending litigation, a spokesperson for MV Realty responded to Insider suggesting that the practice is perfectly legal.
☆ Meet 30 rising stars of real estate who are transforming the way homes are sold and offices get built at firms like Blackstone, Redfin, and CBRE
  + stars: | 2022-11-29 | by ( Robert Davis | Dan Latu | Jordan Pandy | ) www.businessinsider.com   time to read: +3 min
Meet Insider's third-annual slate of emerging talent in commercial and residential real estate. We selected 30 young professionals 35 and under whose leadership spans a vast industry. Insider has tried to capture the brightest of the bunch in our third-annual Rising Stars of Real Estate list. But real estate isn't all about making money. Presented in alphabetical order by last name, here are the rising stars of real estate for 2022.
☆ A 32-year-old rock climber built a treehouse vacation-rental business in Kentucky with 10 retreats that go for up to $950 a night. Check out one of the properties he calls 'Cliff Dweller.'
  + stars: | 2022-11-25 | by ( Robert Davis | ) www.businessinsider.com   time to read: +5 min
The business rents treehouses in Kentucky's Red River Gorge, some for up to $950 a night. Kroner moved to the Red River Gorge area in 2009 because of the location's world-renowned rock climbing. It was after Kroner's friends began to visit his treehouse when he came up with the idea for The Canopy Crew. When he's scouting a new location for a treehouse, Kroner said, he looks for a place in the woods where he'd like to hang out. It also has a giant net that serves as a hammock and unbeatable views of the gorge, Kroner said.
☆ Inside a $2.5 million Michigan castle that harkens back to medieval Europe with its secret passageways, wooden drawbridge, and wine cellar
  + stars: | 2022-11-24 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
The LeBlanc Castle is a custom 10,000-square-foot property about 30 minutes north of Detroit. The castle, set on more than 6 acres, has been on the market for three months asking $2.5 million. To this day, he has not spent a single night at the five-bedroom, seven-bathroom mansion a 30-minute drive north of Detroit known to locals as The LeBlanc Castle. It harkens back to the 15th-century Scottish medieval era with its secret passageways, wooden drawbridge, and other classical features like a moat. Since taking possession of the castle, Gatecliff said he has updated several pieces of the home's infrastructure.
☆ Regular homebuyers in Las Vegas and Phoenix stand a chance now that investors are fleeing pandemic boomtowns
  + stars: | 2022-11-23 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
Pandemic boomtowns like Phoenix and Las Vegas are seeing investors retreat as home prices fall. Phoenix led the nation with a staggering 49% decline in investor activity in Q3, followed by Portland, Oregon and Las Vegas, which saw their investor activity drop by 47% and 45%, respectively. For example, Phoenix had the nation's highest inflation rate in Q3 at 13% in Q3 2022, according to Redfin data. Meanwhile, home prices in the city have fallen by 5.4% to a median price of $435,000 since June 2022. Redfin data also shows that home prices in Las Vegas have fallen by nearly 10% since June 2022 down to a median sale price of $390,000.
☆ Homebuyers canceled a record 60,000 purchase contracts last month because they're waiting for mortgage rates and home prices to fall
  + stars: | 2022-11-22 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
Nearly 18% of pending home sales nationwide were canceled in October, the most since 2013. High inflation and mortgage rates have kept buyers at bay, even as the market begins to cool. Developers are turning to build-to-rent buyers to offload new supply as demand wanes. Rising home prices have been a chief scourge for homebuyers and homebuilders alike throughout the pandemic. "Professional rental companies in some ways bring more efficiency and they might help solve affordability problems because of very high mortgage rates right now," Tomasz Piskorski, a professor of real estate at Columbia Business School, told Insider in November.
☆ Look inside Ellen DeGeneres's latest home for sale — a $5.8 million century-old Montecito cottage with a posh outdoor dining space and a guest house
  + stars: | 2022-11-18 | by ( Robert Davis | ) www.businessinsider.com   time to read: +2 min
Ellen DeGeneres and wife Portia de Rossi have been busy flipping houses in Montecito. If sold, the property would be DeGeneres' 8th home sale just this year. The 64-year-old comic and wife Portia de Rossi have listed their posh 1,900-square-foot cottage in Montecito, California for sale for $5.8 million. DeGeneres purchased the home just six months ago for $5.4 million, according to a report by Dirt. There's also an outdoor dining area in one of the property's most shaded areas, and a one-bedroom guest cabin.
☆ JPMorgan is about to spend $1 billion on hundreds of rental homes across the US on the way to becoming a megalandlord
  + stars: | 2022-11-17 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
Haven Realty Capital and JPMorgan Chase's asset management arm said they will invest up to $1 billion to develop build-to-rent single-family homes across the country, according to a November 15 announcement. It refers to a process where developers construct an entire community of typically detached single-family homes that are later rented out by an operating partner. The trend gained steam during the COVID-19 pandemic as demand for single-family homes and suburban living skyrocketed. Institutional investors like Fundrise as well as pension funds, and public companies have been steadily acquiring single-family homes to rent for a profit. He told Insider in early November that the build-to-rent trend is a "useful response to the market's needs."
☆ It's a historically bad time to buy a home, and a leading economist says it might not get any better until 2024 at the earliest
  + stars: | 2022-11-16 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
One economist expects conditions to improve in 2024 as inflation eases. Evangelou, says the homebuying market will see a sizable drop in activity in 2023 as inventory levels and demand continue to decline. Because of this, Evangelou says first-time homebuyers should plan to compete again in 2024 at the earliest. About 80% of homebuyers described the real estate market as "bad," according to the November consumer sentiment survey from the University of Michigan. "The next couple of years are going to be volatile as households have to deal with elevated inflation," Evangelou told Insider.
☆ Ivana Trump's lavish NYC townhouse is on the market for $26.5 million. The 1980s time capsule has a gold-encrusted library and a pink marble bathroom — take a look inside.
  + stars: | 2022-11-14 | by ( Robert Davis | ) www.businessinsider.com   time to read: +2 min
Ivana's children — Donald Trump Jr., Eric Trump and Ivanka Trump — spent their teenage years there. The property is located between Fifth and Madison avenues and is listed for sale for $26.5 million. All proceeds from the estate sale are slated to go to Ivana's three children: Donald Trump Jr., Eric Trump and, Ivanka Trump. "My mom absolutely loved that house," son Eric told The Journal, adding that the property "embodied Ivana Trump." In her 2017 book "Raising Trump," Trump noted that the property needed "significant work" after it had sat empty for nearly 12 years.
☆ Older Americans are moving in with people their age to play bocce, make art, and be their true selves
  + stars: | 2022-11-14 | by ( Robert Davis | ) www.businessinsider.com   time to read: +7 min
Some older Americans are building cohousing communities instead of moving into senior living. That was until 2014, when the Salmons and a group of eight other seniors began developing Quimper Village, a cohousing community in Port Townsend for people ages 55 and older. The Salmons are part of a growing coalition of older adults who are choosing to live in cohousing communities with people who are about their same age. The website also highlights amenities such as a bocce court and an art studio, which residents also manage. Though Erde describes herself as an introvert, living at PDX Commons has allowed her to be more social, she said.
☆ Colorado homebuyers are gaining the upper hand in cities like Denver, where prices fell 10% since spring, but properties in ski towns are not getting any cheaper
  + stars: | 2022-11-11 | by ( Robert Davis | ) www.businessinsider.com   time to read: +5 min
Colorado ski towns are struggling with low housing inventory, which is keeping prices high. The numbers suggest that while the Denver housing market appears to have peaked in April, median sale prices are still up year-over-year. Other popular ski towns like Frisco, Dillon, and Aspen have also passed similar laws. Other popular ski towns like Glenwood Springs and Estes Park are having similar struggles, the report suggests. Meanwhile, the average price of single-family homes in Estes have increased by 14.8% since October 2021 while the price of condos have jumped by 11.8%.
☆ Layoffs are crushing the real-estate industry, and Redfin and Opendoor are the latest victims. Here are 44 companies that have shed jobs due to the fast-cooling housing market.
  + stars: | 2022-11-09 | by ( Alex Nicoll | Robert Davis | ) www.businessinsider.com   time to read: +2 min
Redfin and Opendoor are the latest real-estate firms to lay off employees. The layoffs come as demand for mortgages has reached its lowest level since 1997.Insider rounded up 44 of the firms who have cut staff amid a cooling housing market. The layoffs at Redfin and Opendoor are the latest signs of trouble for the embattled real-estate industry. The downsizing began in the mortgage industry with Better's Zoom layoffs at the end of last year. With signs of distress spreading through the office market and among homebuilders, and rate hikes anticipated into 2023, layoffs are mounting.
☆ Read the memo Redfin's CEO sent employees announcing that the company is laying off 862 people
  + stars: | 2022-11-09 | by ( Robert Davis | ) www.businessinsider.com   time to read: +6 min
Read the full memo that CEO Glenn Kelman sent to employees this morning. However, 218 of the employees were offered other roles at the company as part of the wind-down, Kelmann indicates in the memo. If none of these employees accept their new roles, the total layoff will impact about 16% of Redfin's workforce. Read the full email that Kelman sent to Redfin employees:Dear Redfin,We're laying off 862 brilliant, loyal people and also closing RedfinNow. 13% LayoffWith this layoff, the number of employees at Redfin, including those at Rent and Bay Equity, will decline by 13%.
☆ Apartment conversions jumped 25% over the past two years, meaning that swanky place you're renting likely used to be an office space, hotel room, or church.
  + stars: | 2022-11-08 | by ( Robert Davis | ) www.businessinsider.com   time to read: +4 min
Developers converted more old buildings into rentals than ever before between 2020 and 2021. Developers are targeting a range of building types, from office buildings to churches. That represents a 25% increase over the more than 22,300 apartments developers converted between the years of 2018 and 2019, prior to the pandemic. "Larger office buildings in abandoned central business districts are better suited to conversion than the often-smaller office complexes distributed around the suburbs." Local governments have gotten behind the trend by creating incentives for conversion projects.
☆ See the pitch deck this startup used to raise $7.9 million to help homeowners find contractors for routine maintenance
  + stars: | 2022-11-02 | by ( Robert Davis | ) www.businessinsider.com   time to read: +2 min
The home-maintenance startup Humming Homes has raised $7.9 million in seed funding. Its CEO walked Insider through a pitch deck that won over Thrive Capital and other investors. Humming Homes, which launched a tech-enabled platform in October 2020, aims to solve that problem by creating personalized, seasonal maintenance programs for homeowners for as little as $250 a month. Humming Homes operates in markets such as Florida, New York, and Connecticut. Mallick walked Insider through the pitch deck that helped Humming Homes secure its funding.
☆ I was laid off from appraisal-tech firm Clear Capital. The culture became cold and impersonal, and I don't miss it.
  + stars: | 2022-10-29 | by ( Robert Davis | ) www.businessinsider.com   time to read: +10 min
Jason Doly/Getty ImagesAppraisal-tech firm Clear Capital laid off 27% of its staff, or about 378 people, on October 14. This as-told-to essay is based on a conversation with a Clear Capital employee who was laid off during cuts that the appraisal-tech startup announced on October 14. But the way the company laid us off was cold and impersonal. Clear Capital used to try to stand out with its company culture, but that culture has been in decline for some time. How companies like Clear Capital operateAs a small appraisal company, Clear Capital hired internal appraisers primarily for quality-assurance tasks like reviewing appraisal reports.
☆ Watch CNBC's full interview with Merck CEO Robert Davis on earnings
  + stars: | 2022-10-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Merck CEO Robert Davis on earningsMerck CEO Robert Davis joins CNBC's 'Squawk Box' to react to the company's third-quarter earnings report, which beat Wall Street's estimates on Thursday. "We have such strong momentum across all of our key growth drivers," Davis tells CNBC.
☆ Merck CEO Robert Davis on earnings: We have strong momentum across key growth drivers
  + stars: | 2022-10-27 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMerck CEO Robert Davis on earnings: We have strong momentum across key growth driversMerck CEO Robert Davis joins CNBC's 'Squawk Box' to break down the company's third-quarter earnings report, which beat Wall Street's estimates on Thursday.
<< prev 2 next >>
Total: 25