Online auctions for real estate opens in Dubai

The Land Department is releasing 17 real estate properties for online auction, a first for the department according to Gulf News.
Potential buyers can browse through the auctions using eMart, a new portal developed by the department, which can be accessed through the Land Department’s official website.
The portal provides many real estate services, including the auction, sale, purchase and rental of real estate through Ejari, an electronic registration service for tenancy contracts.
Traders will be able to complete purchases of properties easily and pay through Noqodi, an online wallet available to registered traders.
Both residential and commercial properties are listed for auction.
Each listing includes detailed list of the property, including a map.
Sultan Bin Mejren, director-general of the Dubai Land Department, told Gulf News that the new portal will increase the number of daily transactions for the department.
“The new portal is required to cope with the ongoing growth in the real estate sector and facilitate all procedures for real estate sector operators and stakeholders.”

EMC2 Data Offers Free Software to Mortgage, Real Estate Professionals; Appraisers

DENVER--(BUSINESS WIRE)--In effort to give all players in the residential mortgage process the best tools to serve consumers, EMC² Data, a developer of regression analysis-based valuation technology, is offering its Resilytics software to mortgage originators, real estate professionals and appraisers cost free. Access to the software will ensure every realtor is able to provide accurate valuations for any home residence in the country. 

“I have used this technology for a year and can honestly say it has helped me close more deals,” said Tom Witzel, a Realtor with Re/Max Alliance in Denver. “This tool will help the entire mortgage market because of the level of accuracy it provides on home values. I value this tool because it offers updated information and more importantly, it has the math to back up the values.”
Witzel, who has been in the real estate business since 1999, has used the technology in his listing presentations as well as to help returning clients better price their homes. It is a tool that is beneficial to home buyers and sellers alike, he explained.
Resilytics gives users an automated regression analysis with a 95 percent confidence level on adjustments. In addition to now being cost-free, the technology is backed by a $1-million guarantee on the mathematics behind the analysis.
“We know that having the right home values makes the difference in a deal closing for realtors and loans closing for mortgage originators,” said Jim Silva, founder of EMC² Data. “Unlike other regression technology, our application is automated and delivers users up to 250 comparables to substantiate the 95 percent confidence level in our analysis. Resilytics gives realtors the confidence they need to help their clients price and purchase homes, while giving originators the information they need for underwriting loans.
“We are giving this technology away because we are so confident in its ability to truly improve the way the industry approaches valuations,” Silva added. “Plus, with the proper technology, no one will be able to cite the valuation as the reason the process is not successful.”
About EMC² Data
Denver-based EMC² Data provides enhanced statistical mathematically-based automated regression analysis for property valuations; with its proven technology, the company has created a collaborative platform that brings together real estate professionals and lenders early in the process, in order to improve valuation methodologies and more efficiently increase the number of transactions. For more information, contact info@emc2data.com.

 

Rental Property As An Investment - Loan Love's New Article Provides Tips For Investing And More

SAN DIEGO, Nov. 25, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The loan advice website excels at providing readers and loan borrowers with essential advice when working with mortgage loans and refinancing through their many articles and guide videos. In one of their newer articles takes an in-depth look at rental property as an investment. Titled "Is Rental Property a Good Investment? (In TODAY'S Market)," Loan Love's article answers the question in the title while helping future investors unlock their investment potential with some helpful advice.

The article begins by saying: "The goal of investing in rental property is to earn a profit from the rent you charge to tenants. However, depending on the characteristics of the property, the market conditions at the time and the specifics of your situation, investing in rental property may or may not be a lucrative choice. That being said, is rental property a good investment in TODAY's market ? Here are some factors to consider…"

As the article points out, if there was ever a good time to invest in rental property or housing, now would be the time. Market conditions are shown to be more favorable to those looking to invest which Loan Love further explains: "According to housing market experts, now is one of the best times to invest in a rental property if you have the cash. Housing prices have dropped, making home and apartment purchases much more affordable for investors. In addition, mortgage interest rates are at an all-time low, so it's possible to make a handsome profit on a rental even if you need to finance it with a mortgage. The rental market is also ripe for investors. Rental rates continue to increase in virtually every major metropolitan area. Coupled with the affordable housing prices and the low cost of borrowing, investors who purchase rental units now are likely to have a healthy earning potential."

However, it also important to note that making an investment in rental property may not be for everyone, as the article points out. For example, properties in a low-income area may not draw in as much rent money as a similar property located in a higher income area. Loan Love adds that before investing, there are a few characteristics future investors should look for, such as the following:

• Price
• Renovation required
• Maintenance
• Location
• Vacancy issues

The article explains further on each individual characteristic and why they are important enough to consider before making an investment. In conclusion, the article advises: "Before you make a final decision, do plenty of research. Sit down and look over your options carefully. Estimate how much the investment will cost you and how much you are likely to earn. If you believe the investment will bring in enough money to make it worthwhile, go for it! On the other hand, if you think the purchase is too expensive or the profit isn't high enough, look for some other ways to invest your money."

To learn more on investing in rental property, please visit LoanLove.com.

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE LoanLove.com

RentalRoost rolls out ‘lifestyle-based’ real estate search engine nationwide (exclusive)

Finding a home isn’t just about what is in between its four walls — location also makes a huge difference.
Real estate startup Rental Roost launched nationwide today, with a new focus on helping renters figure out which neighborhoods suit their needs.
“Think of us as an eHarmony for rentals,” cofounder and CEO Nitin Shingate told VentureBeat. “Imagine how much more efficient your searches will be when you look beyond the usual criteria of bedrooms, bathrooms, and price. When you’re trying to find a place to live, isn’t that what actually matters?”
RentalRoost offers lifestyle-based search criteria. The engine combines your expressed preferences with social media data and “geo-location scoring algorithms” to figure out which lifestyle factors are most important to you and recommend homes and neighborhoods that suit those needs.
Today it unveiled its school-based search, where renters can select a school and see which properties fall within that district. Parents can also pick a property and see which district it falls in. RentalRoost partnered with GreatSchools to provide school ratings along with the listings.
RentalRoost also added an off campus housing search tool. College students can research properties by their proximity to over 9,000 public and private campuses, so they know how far that walk with a heavy backpack will be.
The site’s other lifestyle filters include kid-friendliness, transit options, dining, shopping, arts, and pet friendliness, as well as traditional criteria like price and number of bedrooms.
I tried searching for properties in San Francisco’s Mission. Some of the filters weren’t working, but the scores for walkability, schools, shopping, etc. were useful.
RentalRoost also provides detailed demographic information about neighborhoods, so people can look at charts with data about martial status, household income, occupations, gender breakdown, and even academic achievement.
Searching for an apartment sucks and there are a number of tech companies aiming to make it easier. In addition to RentalRoost, there are the big guys like Rent.com Zillow, Trulia, and Craigslist, as well as a slew of younger companies like ApartmentList, Urban Compass, RoomHunt, Padmapper, Zumper, and Cozy.
It is a crowded and competitive market, and the newcomers try to distinguish themselves with special features and specific focuses.
ApartmentList and RoomHunt have options for roommate hunting, and Cozy and Zumper help realtors and landlords streamline their listing process by enabling online applications and appointments. Urban Compass assigns an actual human to meet you at apartment viewings and offer helpful advice about neighborhoods.
RentalRoost aims to carve out a niche by helping with neighborhood search, as well as housing search.
The company launched its pilot in the Bay Area in September and is now available throughout the U.S., although it has the highest volume of listings in Las Vegas, Houston, Jacksonville, Austin, San Antonio, Dallas, Phoenix, Indianapolis, Chicago, Tucson, Orlando, Columbus, Atlanta, and Philadelphia.
RentalRoost’s “sister site” Houserie provides a tenant screening service for landlords.

Invel to Buy Pangaea in Largest Greek Real Estate Deal

Invel Real Estate Partners agreed to buy most of National Bank of Greece SA’s real estate unit for 653 million euros ($882 million), betting on a recovery in the country’s economy.
The sale of the 66 percent stake in Pangaea Real Estate Investment Co. is expected to be completed by the end of the year, according to a statement from London-based Invel today. Pangaea will probably have more than 1 billion euros of real estate assets at that time and it would be the largest ever Greek property transaction, Invel said.
The investment “demonstrates our confidence in the potential of this market and the recovery of the Greek economy,” Christophoros Papachristophorou, Invel’s founder and managing partner, said in the statement.
Greece is striving to attract foreign investment as the economy faces a sixth straight year of contraction. Pangaea, Greece’s largest real estate investment company, owns and manages nearly all of National Bank of Greece’s branches as well as the main offices used by the bank, the country’s oldest.
To contact the reporter on this story: Neil Callanan in London at ncallanan@bloomberg.net
To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

Axa Real Estate to Buy Up to A$500 Million of Australian

Axa Real Estate Investment Managers, a unit of Europe’s second-largest insurer, will seek to buy as much as A$500 million ($483 million) of Australian office buildings over the next two years to capture higher yield.
Axa Real Estate, which manages 48 billion euros ($66 billion), plans to join hands with as many as three investors, with equity of as much as A$300 million, said Frank Khoo, global head of Asia. The group will buy about four “A-grade” office buildings in Sydney and Melbourne and fund the remaining amount with debt, he said.
Australia’s “attractive yield levels” relative to other Asian markets and its properties with long-term leases are drawing investors, with the country and China accounting for more than half of cross-border property acquisitions in the second quarter, CBRE Group Inc. said in a report. Axa Real Estate last month partnered with local asset manager Eureka Funds Management to buy the New South Wales state headquarters of Australia Post in Sydney for A$168 million, on behalf of an “ultra high net worth” client based in Singapore, Khoo said.
“Investors are looking for a stable, long-term income stream, and in Asia there are only two real markets that can provide you with breadth and depth; that’s Japan and Australia,” Khoo said in an interview in Singapore yesterday. “For a developed economy, Australia is still growing strongly.”
A-grade buildings in Sydney and Melbourne are larger than 10,000 square meters (107,639 square feet), with each floor having areas larger than 700 square meters, according to industry group Property Council of Australia.

Australia, Japan

Axa Real Estate is targeting a total return of more than 9 percent for its Australian investments, including currency hedges, Khoo said. It also plans to establish a presence in the country by acquiring a local asset manager, he said, declining to provide further details.
The company, which now manages about $350 million in Japan and $150 million in Australia, will continue to buy properties in the two countries both with its own capital and with funds from overseas investors, Khoo said.
In Japan, Prime Minister Shinzo Abe’s efforts to stoke the economy and the 2020 Tokyo Olympics will boost tenant demand, he said. Axa Real Estate, which bought two central Tokyo office towers for 10 billion yen ($102 million) this year, plans to double its investments by the end of 2013, Hidetoshi Ono, the head of Axa’s Japan Core Fund, said in July.

Korea Plans

“There’s not much supply, so demand will increase,” Khoo said yesterday. “In the short-to-medium-term, we expect rents to pick up and vacancies to fall.”
Axa Real Estate has lent $120 million from Axa Life Japan on local commercial properties, and has another $250 million to deploy in the next two years, Khoo said. In the future, it plans to raise capital from other investors to provide real estate loans in Japan, he said.
Axa Real Estate is also seeking to raise as much as $600 million over the next two to three years in South Korea to invest in properties in Europe and Asia, Khoo said. The expansion will follow the purchase of Ropemaker Place in London in March for 472 million pounds ($763 million) on behalf of Axa France, Hanwha Life Insurance Co. and China’s State Administration of Foreign Exchange, Khoo said. SAFE manages China’s $3.66 trillion of foreign currency reserves.

How Germany could show UK real estate the way

It is a timely thought. As the UK government concludes its deliberations about whether or not Royal Bank of Scotland should be broken up into a good and bad bank, some of the UK’s top commercial property experts will on Tuesday publish a report on how real estate finance should be regulated in future.
Timely, because one of the big bad bits of RBS that could do with going into that putative bad bank is its vast commercial property book. At the last count, RBS had £59bn of exposure to commercial property, 39 per cent of which was non-performing, with a similar proportion already in the group’s “internal bad bank”, coyly dubbed its non-core division.
If any bank is an illustration of the dangers of misguided commercial property lending, it is RBS. It was excessive risk-taking in this area, as much as the bank’s infamous acquisition of ABN Amro, that triggered its failure five years ago.
As A Vision for Real Estate Finance in the UK – from the Real Estate Finance Group – highlights, poor commercial real estate can invariably “cause or prolong” a financial crisis. The recent crisis has been no exception. The natural consequence of the 45 per cent collapse in UK commercial property prices between mid-2007 and early 2009 has been a pro-cyclical evaporation of financing capacity.
Not only have banks been “significantly hindered” in their ability to lend, the report says; the damage has been compounded by “over-regulation”.
It is hardly surprising that an industry panel, comprising bankers, real estate developers and other property experts should publish a report that criticises the regulatory response to a crisis.
But the tome – now sitting on the desk of Andy Haldane, the Bank of England’s director of financial stability – is clearly being taken seriously by regulators.
There are plenty of sensible recommendations in the REFG report. There should be mandatory qualifications for property lenders. There should be a diversity of credit supply as in the US; insurers, for example, could be encouraged to compete with banks. And a central database should be created of all £250bn of the UK’s commercial real estate exposures to restore trust in the industry and help reignite the European commercial mortgage-backed securities market.
One of the group’s ideas – on regulatory capital requirements – is particularly trenchant, and goes to the heart of the industry’s broken supply-demand dynamic: how much capital must banks hold against their lending.
As in other areas of their response to the financial crisis, UK regulators have gone their own way in determining banks’ capital requirements in commercial real estate – and have ended up being tougher.
This year the Prudential Regulation Authority introduced so-called “slotting” rules that forced banks to stop using their own clever, often over-optimistic, models to judge the risk of a commercial property asset, and instead put each loan into one of four “slots” with standardised capital risk weightings.
The problem, property experts argue, is that such a simplistic approach constrains credit supply at a vital juncture, in turn compounding property price falls across the UK. “Over-regulation is likely to persist precisely during the period when it is least required,” says the REFG.
So far, so self-servingly predictable. But here’s where the group’s argument breaks with the expected. “A return to lighter touch regulation [is likely to] coincide with the return of over-exuberance to the market,” the report adds. Its answer – that regulators should judge the capital requirement of a real estate loan relative to the “long-term sustainable” value of the underlying property rather than its potentially volatile point-in-time value – smacks of fudging. Asset price manipulation with the aim of prettifying bank balance sheets is unhealthy. But the group, which believes market values must also be transparent alongside smoothed “sustainable” valuations, insists the approach would be a benign way to smooth peaks and troughs in bank capital requirements and thus in credit supply.
The idea takes its cue from Germany – not from the country’s regulatory capital system, but from the valuation method used to underpin resilient Pfandbrief mortgage securities market.
The REFG panel admits that ideas suitable for one country’s real estate market may not be transferable elsewhere. But policy makers in Spain and Ireland, as well as those in some of the frothier parts of Asia, would do well to weigh the group’s ideas nonetheless. Pre-empting problems is easier than setting up all those bad banks and non-core units.