Markets News 

Suddenly, a pair of quiet real estate markets are white-hot

“Until last weekend, real estate agents say, attendance at open houses for condos in Long Island City had been sparse” reports thebusinessjournal.com. The two localities already reflect the ultra-pricey New York and Washington metro areas, though real estate sales there had been relatively modest of late.(AP) — Amazon has just sparked a real estate frenzy to rival Cyber Monday.Over the past five years, the median home value in Seattle has rocketed 73 percent to $739,600, according to an analysis by the real estate firm Zillow, which is also based there.Online…

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Crypto Markets News 

Ka-Ching! Crypto Can Get Young People Involved in Real Estate

“Millennials can invest in real estate through security tokens, a new kind of cryptocurrency that offers users stakes in traditional investing options like commercial real estate” writes Nick Marinoff for livebitcoinnews.com. Is cryptocurrency the way to get young people involved in real estate?. This makes them prime targets for cryptocurrency, and it could be the magical tool that gets them involved in real estate.For most millennials, the real estate industry has changed significantly since their parents were young, and for the most part, they’re “iffy” when it comes to buying…

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News 

Filmmakers documented a historic Aretha Franklin concert in 1972. Now, the public will get to see it.

“A representative for the Franklin estate did not respond to a request for comment” writes Steven Zeitchik Covers for washingtonpost.com. A distribution deal with Lionsgate was later mooted after Franklin decided not to sign the papers, and the film was stuck in limbo.Elliott said the deal was struck with Sabrina Owens, Franklin’s niece and the executor of her estate.Producer Alan Elliott and the Franklin estate struck a deal to end a three-year dispute and enable the movie to be shown at festivals and sold to distributors, Elliott told The Washington…

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News 

As Amazon HQ2 talk grows, Crystal City expects surging property prices, heavy traffic and many jobs

“Real estate professionals seem to agree that if Crystal City does become a new Amazon location, housing prices will almost certainly increase” writes Astrid Riecken for cnbc.com. “You can make a speculative play and if Amazon decides to go elsewhere you’re still in a really strong real estate market.”.  Source: cnbc.com Share This:

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News 

Interval Funds Offer Investors Access to Corporate Loans and Real Estate

“While classified as closed-end funds, interval funds typically don’t trade on exchanges, as most closed-end funds do” writes Scott Van Voorhis for thestreet.com. “I expect interval funds will undergo explosive growth,” says Michael Terwillger, portfolio manager of the Resource Credit Income Fund, a closed-end interval fund.Interval funds now account for 102 of the 647 closed end funds currently in business, Roseen says.Their illiquid nature, along with the ability to borrow and use leverage — another characteristic interval funds share with other closed-end funds — could position interval funds to do…

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News Stocks 

Spoiler alert: REITS have outperformed stocks for the past 50 years

“By contrast global stocks flopped in the 1970s and again in the zeroes, actually losing ground from 2000 to 2010” writes Brett Arends for marketwatch.com. Real estate beat stocks during recessions and economic expansions and during periods of rising inflation and falling inflation, the researchers found.Private residential real estate — the value of your home — is a separate matter.During that time real-estate investment companies and trusts have beaten inflation by an average of 6.43% a year, compared to 5.45% a year for global stocks.Thirdly, as with all investment research,…

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News 

Mr. Chow founder offers up one very pricey dish

“Chow Chinese restaurant chain, designed and built the estate for himself over a seven-year period” writes Los Angeles Times for seattletimes.com. Chow Chinese restaurant chain, has listed his estate in Los Angeles’ Holmby Hills neighborhood for sale at $78 million.Michael Chow, co-founder of the Mr.Michael Chow, the designer, restaurateur and co-founder of the Mr. Source: seattletimes.com Share This:

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Tax on high-end real estate could help people at other end have a place to live

“Under state law, voters must give advance approval to any increase in the real estate transfer tax” writes Mark Brown for suntimes.com. If voters approve the referendum, aldermen would still need to pass an ordinance to enact the tax increase, which would take effect July 1, 2019.Chicago voters could soon be asked to more than double the tax on sales of million-dollar-plus real estate to pay for an ambitious new effort to reduce homelessness.The referendum would ask voters to increase the city’s real estate transfer tax by 160 percent on…

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News 

Paul Allen’s sister Jody named executor, trustee of late billionaire’s estate

“Vulcan, Paul Allen’s holding company, on Wednesday said the late Microsoft co-founder’s sister, Jody, would be executor and trustee of his estate” writes Seattle Times Business for seattletimes.com. The task of overseeing the disposition of Paul Allen’s estate, likely the largest in Washington state history, will fall to his sister, Jody Allen.For years she was chief executive of Vulcan before she left that role for what the company called a sabbatical in 2014. Source: seattletimes.com Share This:

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Treasury makes real estate a winner of tax law’s ‘opportunity zones’

“Investments made for longer are given more of a break from the capital gains tax” reports washingtonexaminer.com. The opportunity zones work by giving preferential treatment to capital gains on investments in distressed areas, which are designated by state governors and signed off on by the Treasury.The proposed rule also allows breaks for property improvement in qualified areas, which were again written to favor real estate investment.The universe of firms and industries that could potentially benefit is relatively wide, but the real estate industry seems a clear winner. Source: washingtonexaminer.com Share This:

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