This accidental bargain is about to be a lot of paperwork. A tiny mishap has landed a Sparks, Nevada, homebuyer with a small city’s worth of homes purchased for the price of one. Thanks to four mistaken keystrokes, the new owner of a single-family home received an additional 84 house lots, plus two common spaces…
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John Burns is a highly regarded aggregator of insightful and timely data on the Housing industry. On a cautionary note, the industry is a million zip codes and activity can be uneven within different markets. The market has clearly “hit a wall” with no relief in sight anytime soon although prices will rebound at some…
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Freedom Financial Funds, LLC recently closed a $14,000,000 build-to-suit construction loan for a multi-tenant project in the Inland Empire region of Southern California. Tenants include Shell, Starbucks and Tesla. The transaction was originated by Stanley Kafka, a founding principal of Freedom. This is the fifth loan that Freedom has provided to the sponsors. The loan,…
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This podcast should be required listening for all of us involved in the housing sector. While perhaps counterintuitive, could well-intended state, municipal, and local progressivism be at the heart of our current “housing crisis”? The five states with the highest rates of homelessness (and the biggest affordability problems) are CA, OR, WA, HI, and NY. Major…
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Freedom Financial Funds, LLC recently closed a $10,500,000 bridge loan that will be used to convert a non-operating hotel into a 115-unit apartment building. The project is located in the Seattle/Tacoma metroplex and was originated by Eric Shoemaker, Freedom’s Northwest Market Executive. This transaction was Freedom’s second loan to the sponsor, who opted to work…
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Article via Gavekal Research As young parents, my wife and I would bundle our four children into the car for a nine hour drive to my parents’ house in southern France. Mere minutes after starting on the road, at least one child would ask a question that the others would often repeat throughout the journey: “Are…
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Homeowners may be feeling rather well off but fast price runups in the past have led to fairly painful decreases when market enthusiasm wanes. John Wake, a Phoenix based real estate analyst shared the information below (Find John on Substack HERE). Yikes!The U.S. Real Mortgage Payment Price is now higher than at the peak of the…
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Pent-up demand to deploy capital during the pandemic has driven a surge in new investment activity, with record amounts of capital raised in 2021. Now, pension funds are striving to hit their target allocations to commercial real estate, as real estate is considered a diversifier against market volatility within institutional portfolios, a source of durable…
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Faster inflation and strong U.S. economic growth are sending the 10-year U.S. Treasury rate up. The 10-year Treasury is now above 3 percent — the highest since 2018. Historically, the 10-year yield is also as a proxy for mortgage rates. Meanwhile, the Federal Reserve raised its target federal funds rate by a half point in May…
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The California legislature passed a statewide eviction moratorium extension on March 31, 2022 for certain tenants who have applied for rental assistance on or before that date. The moratorium is set to expire on June 30th. In late April, the San Diego City Council followed suit when it voted to enact an eviction moratorium that…
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