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Hot real estate markets can prove challenging for home appraisals

“But what we do know is that your real estate agent also has a good feel for what is going with real estate values” reports washingtonpost.com. Your real estate agent is doing the exact thing that he is supposed to do.Samuel J. Tamkin is a Chicago-based real estate attorney.We’ve seen situations where appraisers have performed appraisals in markets in which they have had very little experience.When there are lots of sales in a neighborhood, an appraiser has an easier time trying to come up with an appraisal amount. Source: washingtonpost.com Share This:

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MGM Growth Properties raised dividend, to an implied yield of 5.7%

“MGM Growth Properties LLC MGP, +0.86% said Friday it raised its quarterly dividend by 2.4%, to 43 cents a share from 42 cents a share” writes Reporter Editor for marketwatch.com. The real estate investment trust said the new dividend will be payable July 16 to shareholders of record on June 29.Based on Thursday’s stock closing price of $30.40, the new annual dividend rate implies a dividend yield of 5.66%, compared with the yield on the SPDR Real Estate Select Sector ETF XLRE, +0.20% of 3.35% and the implied yield on…

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Real estate mogul: The 1 hard truth all home flippers should know

“Self-made millionaire Sidney Torres built his fortune renovating houses in New Orleans” writes Kathleen Elkins for cnbc.com. In an upcoming episode of the show, one investor, James Brooks, has fallen in love with a house he’s been working on for three years and finds himself not only out of money, but nearly half a million dollars in debt. Brooks’ situation is a good reminder of one hard truth about real estate: A renovation can easily turn into a million-dollar money pit, especially if you become emotionally attached and delay selling. Source:…

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Real estate mogul Sam Zell made another offensive comment about women recently, source says

“Billionaire real estate investor Sam Zell’s use of a vulgarity to discuss female employment last week wasn’t the only controversial comment he has made about women recently” writes Sally Goldenberg for politico.com. During a panel discussion at the Wharton School of the University of Pennsylvania in April, Zell, 76, offended some attendees by invoking a woman’s appearance when asked about his company’s investment in Argentine real estate. Source: politico.com Share This:

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How much house will $300K get you in Michigan?

“It’s no secret the Ann Arbor area has a hot real estate market, and home values in the city of more than 120,000 people outpace most other areas of Michigan” writes Lslagter Mlive Com for mlive.com. So just how much house can you get for your dollar in Ann Arbor?. To illustrate the differences in real estate markets across Michigan, take a look at the types of houses currently for sale for approximately $300,000 in Ann Arbor, Grand Rapids, Lansing, Kalamazoo, Flint, Detroit and other cities. The featured houses were…

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Blackstone raises more than $9 billion in new Asia funds

“With the new Asia private equity fund, Blackstone said it now has at least $3.8 billion to invest in Asia equity when “associated commitments” from its global buyout fund are counted” writes Midwest Communications Inc for 95kqds.com. The U.S. private equity firm closed the Asian private equity fund at about $2.3 billion, while raising $7.1 billion for its second regional “opportunistic” real estate fund, it said in two separate statements.Investor interest in Asia-focused private equity has grown as deals have increased in size following corporate restructuring and as global private…

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Dubai has reportedly become a money-laundering paradise

“Alleged Australian drug kingpins arrested in Dubai last year also owned real estate in the city, while the governments of Nigeria and South Africa also have launched investigations into alleged money laundering involving Dubai” writes Associated Press for nypost.com. C4ADS said it relied in part on “private UAE data compiled by real estate and property professionals” offered by a confidential source for its reporting. Source: nypost.com Share This:

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Real estate life lesson: Read documentation carefully to understand terms of your mortgage

“If the closing disclosure form indicated you had a prepayment penalty and that prepayment penalty was reflected in the note, it would appear you agreed to it” reports washingtonpost.com. However, sure enough, there was a supplemental “rider” included in my packet that stated I “may be charged a prepayment” penalty.Given Fannie Mae was the owner of my loan at the time I refinanced, is this prepayment penalty enforceable?.  Source: washingtonpost.com Share This:

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All signs point to tough times ahead for high street estate agents

“If you have used Deliveroo to order a takeaway, Airbnb to book somewhere to stay, or Uber to order a taxi, it will come as no surprise to find that the use of online estate agents is on the rise” writes Liam Halligan for telegraph.co.uk. Today around 7pc of homes listed for sale on the site are with online agents, an almost trebling from 2015 when that number was just 2.4pc. Source: telegraph.co.uk Share This:

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