Drones Now Used To Locate Homes In Coburg's Real Estate Market

 In the three years since he founded Drone Pros, a company that specializes in aerial photography and cinematography, Luke DiMarco has seen the industry lift off the ground.

What started as a side project for an engineering competition in 2013 quickly turned into a business venture for the Cobourg native, who now also runs DiMco Media, a company that markets and sells products online.

“Of course the first time I got it, I’ve got video of me flying above the CN Tower and that is just very, very stupid, but I didn’t know,” he said, sitting in his company’s office in downtown Cobourg on Aug. 27. “I was very uninformed which I think a lot of people are when they first buy (drones).”

While promoting the technology -- which features a high-definition GoPro camera mounted to the bottom of an unmanned air vehicle, or UAV for short -- to area real estate agents, he quickly realized that it would be a hard sell.

Real Estate Firm Accused Of Discrimination

A complaint filed with the Department of Housing and Urban Development alleges a Brandon real estate company discriminated against black customers and encouraged white homebuyers to purchase houses in predominantly white areas.

On Sept. 10, the National Fair Housing Alliance filed a complaint with HUD’s fair housing office in Atlanta against Re/Max Alliance following a yearlong investigation in which people of both races posed as prospective buyers with similar qualifications and housing preferences.

As of Tuesday, Lee Garland, a real estate agent and director of the office, said he had not received a copy of the complaint from HUD or the housing alliance.

“Discrimination is not an option with our company,” he said. “It is not condoned, and we will not allow it.”

The complaint mentions Lorgroup, LLC, or Re/Max Alliance, and real estate agents Garland, Randy Inman, Lisa Bourgoyne and Chase Belk as respondents to the complaint. Belk and Inman referred questions to Garland, and Bourgoyne did not immediately return a request for comment.

Kochi: The Preferred Real Estate Destination

Just like their bigger counterparts, southern tier II cities have also outperformed their northern peers as top residential real estate destinations, with Kochi grabbing the top spot, according to a new report by property research firm PropEquity.

"Much like tier I cities, northern tier II cities are also marred by project delays, expensive properties and a demand and supply mismatch," said Samir Jasuja, managing director and founder, PropEquity, adding, "Southern India has traditionally been an end users market, which has kept its property prices in check and relatively affordable."

All other five southern tier II cities surveyed - Vishakapatnam (rank 3), Thiruvananthapuram (5), Mangalore (7), Goa (9) and Coimbatore (10) - featured in the top 10 cities, while only one city from the north - Jaipur (6) - managed to be in the top 10. The bottom four cities were all north Indian cities - of Agra, Lucknow, Bhiwadi and Mohali. Kochi is followed by Nashik at 2 and Vadodara at 4, both from western India. Regionally, south is at the top, followed by west and central India.

 Despite a significant slowdown in the sector across India over the last two years, from March 2013 to March 2015 the launch prices have continued to rise unabated for most tier II cities.

Chinese Investors May Pile Into Real Estate Due To Stock Market Turmoil

Sotheby’s International Realty Canada says turbulence on the Chinese stock market could send buyers from mainland China flocking to Canadian luxury real estate this fall.

The realtor predicts that sales of homes worth over $1 million will rise in Toronto and Vancouver, while Montreal’s luxury market should be balanced and Calgary’s will slow due to the effects of declining crude prices.

Sotheby’s says sales gains are expected to be highest in the over $4 million category in the Toronto and Vancouver areas this fall, although higher sales volumes are expected in the $1-million to $4-million range, as well.

The realtor lists increased demand from international investors alongside limited inventory, historically low interest rates and heightened consumer confidence as the factors expected to fuel sales growth in Canada’s two hottest real estate markets.

Real Estate Maven Buys A Luxury Flat I SoHo's Tallest

Real estate maven Jane Goldman, the daughter of late industry titan Sol Goldman, is in contract to buy a three-bedroom, 14th-floor unit at 10 Sullivan, the new luxury condo designed by Cary Tamarkin that will be the tallest residential building in SoHo.
Developed by Property Markets Group and Madison Equities, the unit — just under 3,000 square feet — is in contract for just under $10 million.

Real Estate ETFs And Rate Hike

Real estate ETFs amassed impressive returns in the past few years. But this year has been different. Most funds are down in 2015 and underperforming the market. So what's in store for investors going forward?

"In recent years, it's been an ideal recovery for REITs .. . a perfect positive storm," said Morningstar analyst Robert Goldsborough. "You've had low rates, but you've also had a very slow and steady growth in the economy."

The largest REIT ETF, $46.98 billionVanguard REIT ETF (VNQ ), yields 4.1% and returned from 2% to 30% from 2009 to 2014. But it's down 7% so far this year. The lowest-costSchwab U.S. REIT ETF
( SCHH ) yields 2.41% and returned about 17%, 1% and 32% in each of the past three years, respectively. It's down 4% year to date. The S&P 500 is off 2%.


In prior years, incremental demand helped push occupancy as well as rental rates higher, driving up REITs' operating income, explains Goldsborough. Low rates also made the higher REIT yields more appealing to investors. As a result, real estate funds saw massive inflow of investor money.

Former real estate director charged with 18 counts of theft

A former director of an Adelaide real estate agency will face court tomorrow charged with multiple counts of theft.

Detectives from the Major Fraud Investigation branch arrested the 61-year-old man from the north-eastern suburbs today.

Police allege he misappropriated funds entrusted to him by a number of investors between May 2010 and June 2010.

He has been charged with 18 counts of theft and will appear in the Adelaide Magistrates Court.

Realtors Applying 'Feng Shui' Principles To Attract Chinese Buyers

When Joseph Rand and his wife were shopping for a new home, his wife, who is of Chinese descent, insisted the stairs couldn’t face out the front door. That’s because the ancient Chinese design philosophy holds that all luck would flow out the front door. Rand, also a New York realtor, told the story as a way of underscoring the importance of learning the Chinese buyers’ cultural preferences, especially feng shui.

This year, China surpassed Canada as the foreign country spending the most on residential properties in the U.S., comprising 16% of international home buyers. Chinese buyers spent an estimated $28.6 billion on residential U.S. real estate between April 2014 and March 2015, according to the 2015 Profile of International Homebuying Activity.

The growing Chinese presence is partly why realtors selling luxury properties, in particular, are paying more attention to feng shui. A survey of 500 Chinese Americans conducted by Better Homes and Gardens Real Estate and the Asian Real Estate Association of America found that 86% think feng shui will make a difference in their future home buying choices. Additionally, 79% of these Chinese-American home buyers said they would pay more for a house that followed follow feng shui standards.

Feng shui is a centuries-old philosophy, originating in China, that was used in homes and urban planning to create a calm, harmonious environment and improve the flow of “qi” or positive energy, which is thought to benefit the occupants. In modern homes, this flow is achieved by the layout and placement of furniture and other decor elements. Clutter-free environments are valued, and other key considerations include placement of mirrors (not across from the bed) and complementary colors. In feng shui-styled environments, the Five Elements of wood, fire, earth, metal, and water, are used in combination to align a building, site, or city to a healthy balance.

Crowdventure Teams Up With Equipoise Capital Partners to Deliver Real Estate Secured Investment Opportunities

Crowdventure, a real estate crowdfunding platform, has today agreed to a landmark joint venture partnership with Campbell, CA based Equipoise Capital Partners. Collaborating closely with Equipoise management and their highly experienced real estate development and project management team, Crowdventure is now able to offer accredited investors across the country a range of high-yield, short-term debt and equity investment opportunities secured by real estate assets.

Under the terms of the joint venture partnership, and leveraging their extensive experience, deal flow and operational capabilities, the Equipoise team will locate, originate and project manage each of the real estate backed debt opportunities that will be offered to accredited investors through the Crowdventure.com platform. The investment opportunities offered will include residential and commercial real estate across the United States, providing asset class and geographical diversity for investors.

Projects offered on the platform will be pre-funded by Crowdventure and its partners. As the management team only selects projects in which it is willing to make the investment itself, investors can be assured that the investment opportunities that are on offer have been through an extensive due diligence and underwriting process and are project managed by an experienced team. Investors get the added benefit that they start earning interest on their investment as soon as the project funding round closes escrow.

IRS Raises Concern on Real-Estate Spinoffs

Activist investors have been clamoring for companies to spin off real estate and unlock the value hidden in their headquarters, stores and land. This week, U.S. tax authorities weighed in with a message of their own: Not so fast.

In new guidance, the Internal Revenue Service signaled its discomfort with a range of corporate spinoffs, specifically calling out deals in which companies split their real estate and other physical assets from their mainstream operations. The agency said it was concerned that some of these transactions may violate rules meant to ensure that companies don’t disguise dividends and other taxable transactions as spinoffs to avoid paying taxes.

These spinoffs “involve significant concerns,” the IRS said, adding it will largely stop giving preapproval for such deals while it examines the issue more closely.

The increased scrutiny could apply to pending deals including Darden Restaurant Inc.’s plan to spin off most of its restaurant properties, a move championed by activist investor Starboard Value LP, which controls the company. It also could give pause to companies including Macy’s Inc. and McDonald’s Corp., which are under shareholder pressure to make similar moves.

A look At On-line real estate marketplace Compass

On-line real estate marketplace Compass has raised $US50 million ($70 million) in its latest funding round, as it seeks to expand its operations to other cities in the next year and further develop its data analytics.

The funding round, led by Institutional Venture Partners, values the New York-based startup at $800 million, says a source. That's more than double the company's value from a little more than a year ago. Its revenue grew 10 times in the last year, said the source, who asked not to be identified because the information was not public.

Compass is among technology companies including Zillow Group seeking to disrupt the real estate industry through software. Seattle-based Zillow, which bought competitor Trulia this year, provides online listings for purchase and rent all over the United States.

Like Zillow and Trulia, Compass lists properties on its web platform. Compass agents work with users looking to rent or buy properties. Agents work exclusively with Compass and receive commissions, just as they would under the traditional real estate model, said Ori Allon, Compass's co-founder and executive chairman.

Local real estate company apologizes after its ad infuriates women

A local real estate ad infuriated moms, who blasted the company on Facebook. Now, the company is apologizing.

Rachel Money opened her mailbox and saw an ad depicting the chaotic life of a mom of three next to two well-dressed men in sharp suits. And the ad asks a simple question: Part-time agent vs. full-time professionals -- who would you want to represent you?

"It's 2015 and no one would ever print anything like that," Money said. "Then I turned it over and realized it had been sent out. It was in the mail in our mailbox!"

The ad is the latest marketing tactic from Issaquah real estate duo, brothers Chase and Jeff Costello.

"I sell real estate and I'm a mom and I do both of them full-time and really well," said Katlin Lee. "And I know so many women who do the same. It felt so personal.

"It's hurtful. It feels like you work so hard and not have that respect from your peers -- these are my peers. We should be supporting each other and working together and instead it's like bashing each other."

Jeb Bush Tax Plan Could Disrupt Real Estate And Small Business

Whatever the long-term effect of the Bush 2016 tax plan, there is one provision that may create something of a shock to both real estate and the financing of small business. In the “Backgrounder” for the Reform and Growth Plan, we read – “Generally, businesses would no longer be able to deduct interest payments.” The provision is seen as a corollary to another proposal

Under the proposal, businesses could fully expense all new capital investments, an approach that seeks to remove taxes on marginal investment returns. This would simplify the tax code and significantly increase incentives to invest in new machines, equipment, buildings, and other structures.

Chinese investment in Australian residential real estate Up 2 per cent

The scale of Chinese investment in the Australian residential property market continues to polarise public opinion.

Chinese buyers are often blamed for driving up house prices in Australia and causing the current affordability crisis.

However, Chinese offshore purchases are surprisingly low.

Based on Foreign Investment Review Board (FIRB) approval figures, ABS data on actual Chinese investment in commercial real estate, it is estimated Chinese residential real estate investment totals around 2 per cent of all residential real estate transactions in Australia.

In legal terms, "Chinese investors" are defined as those who require FIRB approval for their residential property purchases.

This figure is obtained by dividing estimated Chinese investment volume in residential real estate by the total volume of residential real estate transactions.

For the financial year 2013-14, based on FIRB statistics, it is estimated residential property investment by Chinese investors was $5.8 billion.

This is consistent with KPMG/University of Sydney (USYD) data on actual Chinese investment in Australia.

Better Income: Real Estate or Stocks?

Over the years, I’ve met quite a few friends and relatives who need regular income but are afraid of the stock market, especially when it plunges from time to time (like it did on Monday, Aug. 24). They prefer to invest in income-producing real estate.

Several years ago, one of my relatives sold his business for several million dollars and attended FreedomFest to decide what to do with his cash. He and his wife attended several sessions led by investment experts on a variety of choices — income and growth stocks, offshore investing, venture capital (pre-initial public offering private placements) and real estate.

They told me that they had never owned bonds or stocks (other than their own company) and felt uncomfortable investing in them. They decided to stick with “what we know best” — commercial and residential real estate. They had invested in various rental properties over the decades and decided to stick with this strategy. They kept the properties they owned, paid off their mortgages and lived off the income stream (earning tax advantages to boot). They used the remaining funds to acquire more properties — a strip mall, a car wash, an event center, storage units, resort condos, luxury homes, mountain cabins and lodges. The husband manages the properties and the wife does the paperwork, which keeps them plenty busy.

He told me, “Most properties are paid for, producing income and growing in value — partly because we improve, upgrade and maintain our properties impeccably.”

Real Estate Investment Trusts — the Stock Market’s Alternative

Like any investment, there is a downside to investing in rental properties directly — the paperwork, repairs and upkeep, bad tenants who suddenly stop paying their rent, choosing the wrong location, changing trends, dealing with government regulations and taxes, potential lawsuits and an illiquid market. You may have to wait months if not years to sell your property in a down market.

Joint Venture To Develop $250M Hotel Property In Ghana

Singapore-based-and-listed firm Perennial Real Estate has formed a joint venture with Shangri-La Asia to develop a mixed-use development including a hotel property in Ghana, estimated to be worth $250 million, DealStreetAsia reports.
The development in Accra is expected to include a hotel, shopping mall, residential towers, office tower, and serviced apartments, according to statements from Perennial.

Perennial is a real estate owner, developer and manager listed on the Singapore Exchange that focuses on large, mixed-use developments primarily in China and Singapore. It also manages a 4-million-square-foot (371612 square meter) waterfront development in Penang, Malaysia.

Hong Kong-based Shangri-La Asia is an investment holding company that owns and operates hotels and associated properties worldwide under the brand names Shangri-La, Hotel Jen, Traders, Kerry, Rasa, Summer Palace, and Shang Palace.
Perennial paid $15.2 million for a 55 percent stake of the site in Accra from Shangri-La Asia, which owns the 12.3 acre plot, according to DealStreet.
Management will be jointly by Perennial and Shangri-la Asia, though the hotel property will be solely managed by a subsidiary of Shangri-La Asia.
The development is expected to be complete in 2019, according to DealStreetAsia.

African Countries Copying Chinese Housing Designs

Africa’s population is booming and urbanization is quickly gathering pace with population ballooning in major cities on the continent, Tech Insider reports.
According to reports, the continent will have more than four billion people by the close of the 21st century, up from just one billion today. In terms of density, Africa’s population has increased from 8 people per square kilometer in 1950 and is expected to reach 80 people per square kilometer by 2050.
To cater for this increasing demographic that’s moving to cities, African governments in countries like Angola, Kenya and Ethiopia are adapting Chinese-style housing developments that has been able to support the Asian giant’s rapidly growing population.