The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) and with 20 percent down increased from 5.33 percent to 5.40 percent during the first week of June, according to CNBC (citing data from … Continue reading →
A reciprocal easement agreement (“REA”) is a legal agreement between individual property owners that provides for the rights and obligations of the owners and coordinates the development, operations and maintenance of the affected properties. REAs may contain provisions that address … Continue reading →
Upzoning is a change in the zoning code to allow for increased development or density (for example, increasing the allowable FAR). On September 16, California governor Gavin Newsom signed Senate Bill No. 9 (SB 9) into law. Known as the … Continue reading →
The Q2–2021 median sale price for condos and co-ops in Manhattan rose to $1,130,000 – its highest level in eight quarters, according to Douglas Elliman. The number of sales surged 151.8 percent year-over-year to 3,417 and the months of supply … Continue reading →
A blank check company is an early or development stage entity that has no specific business plan or purpose but is founded by investors to bring their specialties, backing and experience to bear on businesses that have good concepts but … Continue reading →
Employment for the bottom quartile of American earners (those making less than $27,000/year) is 21 percent below January 2020 levels whereas employment for the top quartile of earners (those making over $60,000/year) is up 1.6 percent from pre-pandemic levels, according … Continue reading →
Single-tenant net lease cap rates registered at historic lows in Q4-2020, according to The Boulder Group. Single-tenant industrial cap rates compressed by 13 basis points to 6.75 percent. Single-tenant retail cap rates compressed by six basis points to 6.00 percent … Continue reading →
RentPath Holdings, the owner of Rent.com and ApartmentGuide.com, has terminated its $588M deal to be acquired by CoStar, according to Bisnow. The Federal Trade Commission (FTC) filed a complaint in November to block the move on antitrust grounds, One could … Continue reading →
Development yield, also known as yield-on-cost or “going-in cap rate,” is a metric used in real estate development. It is the yield potential for a new development project and is calculated as the project’s first stabilized year net operating income … Continue reading →
Real gross domestic product (GDP) decreased in all 50 states and DC during the second quarter of 2020, according to the Bureau of Economic Analysis. Nevada and Hawaii were hardest hit If taking cold medicines – Some medications which are … Continue reading →