With any luck, demand will heat up the housing market this summer. Spring is a home-buying season. However, the 2020 season had a false start. 2020 started with new and existing home sales at a 12-year high. In late February to early March, mortgage applications were up, and the market looked optimistic. Then COVID-19 hit, and the U.S. sheltered in place. Open houses were canceled, and future homebuyers were suddenly
Read More
Black Knight, Inc. has launched Black Knight SCOUT, a remote property inspection mobile app. The cloud-based application streamlines the appraisal process by allowing homeowners to collect property details and photos and send them electronically to appraisers to perform due diligence and analysis without requiring an appraiser to enter the property. Appraisal management company representatives or lenders working with them don’t need a specific software or system to interface with the
Read More
CIG Capital, an alternative investment firm, has announced a $125 million lending project for The Villages at West Point, an upscale 624-unit destination-location development in West Point, Georgia. Despite the economic slowdown, CIG Capital is continuing to provide 100% funding for projects across a variety of industries, including multi-family housing construction. Located on 70.3 acres of land, The Villages will feature resort-style apartment homes and secure on-site boat, recreational vehicle
Read MoreCommercial real estate firm Bedrock has announced “Bedrock Relaunch.” The program offers additional months of rent abatement to restaurant and retail tenants. The temporary lease amendments for eligible establishments will run through Dec. 31, 2020. Bedrock Relaunch is part of an ongoing effort to help position its tenants for a safe and successful reopening following the outbreak of COVID-19. Their initial relief program began in March, which offered small business
Read MoreProperty marketing startup LandSearch has launched an online real estate platform forbuying, selling and financing residential, commercial, agricultural and recreational land. The site promotes a growing inventory of more than 10 million acres of land for sale, along with representing tens of thousands of real estate agents. Users can post an unlimited number of properties for sale and create seller profiles at no charge. Agent, lender and service provider directories
Read More
Fairstead has acquired the Federation Sunrise Apartments, a 123-unit Section 8 housing development for the elderly, in Sunrise, Florida, for $29.5 million. Fairstead is planning a multimillion dollar rehabilitation of the complex, including a full renovation of the apartments. The acquisition was financed through the issuance of federal low-income housing tax credits and tax-exempt bonds from the Housing Finance Authority of Broward County, Florida. Fairstead is a vertically integrated real
Read More
