News Updates

Luxury Single-Family Community Planned Near Denver

by admin
Comment Off
336 views

Watermark Residential has acquired 20.25 acres of land in the Castle Pines suburb of Denver for the development of The Summit Townhomes & Villas. The luxury-leased residential community will feature one- to four-bedroom attached single-family homes and townhomes. The development is expected to be completed by December 2022. The development, located along Lagae Road south of Castle Pines Parkway, will consist of 214 homes averaging 1,410 square feet. All units will feature premium interior finishes, including gourmet bar-kitchens with quartz countertops, stainless steel appliances, walk-in closets, garden tubs, full-size washers and dryers and designer light fixtures. The three- and four-bedroom townhomes will feature two-car attached garages and two-level patio decks. The paired villas will feature 10-foot ceilings, windows on three sides of the home and privately fenced patios. Community amenities will include a clubhouse, 24-hour state-of-the-art fitness center, swimming pool with cabanas and entertainment areas, pet-friendly bark park and doggie spa, local walking paths and access to an on-site management team. Watermark Residential is a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers. The Summit is the fourth luxury leased project for the company. The company also has projects under development in the suburbs of Denver, Phoenix and Nashville.

by admin
Comment Off
561 views

Atlanta-based wealthtech platform GROUNDFLOOR debuts as #402 on Inc.’s list of 5,000 high-growth companies. GROUNDFLOOR has experienced three-year revenue growth of 1,141%, and it continues to see record investor growth in 2020. The company is also listed as the fastest growing financial services company in Georgia and 22nd among all financial services companies nationwide. Brian Dally and Nick Bhargava founded GROUNDFLOOR in 2013. Their vision was to open private capital markets to everyone, with as little as $10 to start. GROUNDFLOOR became the first company qualified by the Securities and Exchange Commission to offer direct real estate debt investments via Regulation A for both non-accredited and accredited investors. The company now has more than 80,000 registered users who have invested more than $270 million into over 1,750 real estate notes. The company has repaid more than 1,000 notes for over $140 million, delivering investors a 10.6 percent average annualized return1. “When we came up with the idea for GROUNDFLOOR, we knew we were not just building a new company, but also creating a new product, in a new category, for a brand new audience,” Dally said. “The momentum of investor adoption continues to build as we navigate every obstacle of finance-as-usual, and we’re extremely excited to be recognized as one of the fastest growing private companies in the country.” GROUNDFLOOR’s 2020 growth has occurred in several areas. It hit a quarterly record in the second quarter with $33.3 million in Limited Recourse Obligation and GROUNDFLOOR Notes investments, a 24% increase over first quarter 2020 and a 48% increase compared to the same period in 2019. It also set three consecutive monthly records for total investment volume across all note products in May ($11.4 million), June ($12 million) and July ($15.5 million). The company also saw a repayment of $12.2 million for loans on 88 properties in the second quarter of 2020, representing a slight increase over first quarter repayment unit and dollar volume, despite the impact of COVID-19. During a six-week period this year, GROUNDFLOOR has raised $1.7 million in equity capital through SeedInvest, bringing its public ownership to more than 22 percent and more than 3,771 individual shareholders. The company has also added new functionality to improve the investor experience, including an Investment Wizard, designed to match currently funding loans to a self-selected profile that investors can adjust to better diversify their portfolios and more easily understand the power of diversification in generating more predictable returns on investments.

Downward Trend Continues for Foreclosure Filings

by admin
Comment Off
597 views

ATTOM Data Solutions‘ July 2020 U.S. Foreclosure Market Report revealed a total of 8,892 U.S. properties with foreclosure filings (i.e., default notices, scheduled auctions or bank repossessions in July 2020. That’s down 4% percent from a month ago and 83% from a year ago. “Even as mortgage delinquency rates climb, foreclosure activity continues to be artificially low due to moratoria put in place by the federal and state governments,” said Rick Sharga, executive vice president at RealtyTrac. “It’s inevitable that there will be a significant increase in foreclosures once these moratoria have expired, although it’s unlikely that we’ll see default rates reach the levels we saw during the Great Recession.” Nationwide one in every 15,337 housing units saw a foreclosure filing during the time period. Three states—Delaware (1 in 6,489 housing units), South Carolina (1 in 7,328) and Maine (1 in 7,542)—posted the highest state foreclosure rates. New Mexico and California posted rates just behind those three states. Metropolitan areas with a population greater than 1 million that had the worst July 2020 foreclosure rates were Louisville, Kentucky (1 in every 5,383 housing units); Riverside, California (1 in every 7,345 ); Baltimore, Maryland (1 in every 8,139); Cincinnati, Ohio (1 in every 8,289); and St. Louis, Missouri (1 in every 8,514). Foreclosure starts were down across the country. A total of 4,530 U.S. properties started the foreclosure process in July 2020, which is 7% decrease from June 2020 and 83% from a year ago. States bucking the national trend and posting month-over-month increases in foreclosure starts included Connecticut (up 54%); Michigan (up 42%); Missouri (up 34%); Virginia (up 32%); and California (up 1%). Bank repossessions continued to drop to their lowest levels, with lenders foreclosing (REO) on a total of 2,163 U.S. properties in July 2020, down 14% from last month and 80% from a year ago, the lowest level since ATTOM began tracking in 2005.

Kleard Partners with Kangaroo to Bring More Security to Self-Tours

by admin
Comment Off
604 views

Real estate technology company Kleard has partnered with Kangaroo Home Security to offer its self-touring technology, called Kleared Now. The partnership between Kleard and Kangaroo will allow agents to purchase a home security package created specifically for real estate listings. Two package options are available. Both include a doorbell camera, door/motion sensors and an indoor camera. Installation will be completed via the Kangaroo app. In-app notifications will inform agents when buyers arrive, doors are opened and closed or when motion is detected inside the home. The technology will also capture images and video to provide agents with visual updates when motion is detected. The optional Complete plan also includes professional monitoring and other premium features that can be added. Dhruv Garg, Kangaroo’s co-founder and president said: “Kangaroo’s smart home technology was designed to be affordable, extremely easy to set up, and respectful of user data and privacy. In partnering with Kleard, we are able to extend these core principles into action to enable more secure self-tour events and complete visibility of listed properties for agents—peace of mind for all parties involved.” “We’re excited to partner with Kangaroo. We love that their home security devices are easy to set up and affordable. With this new partnership, agents will be able to add powerful home security to all their listings that have Wi-Fi and will make homes that are self-tour-enabled more secure,” said Jonathan Martis, Kleard CEO and co-founder.

by admin
Comment Off
639 views

Rick Sharga has rejoined RealtyTrac as executive vice president, according to the firm’s parent company ATTOM Data Solutions. Sharga will oversee RealtyTrac’s marketing and public relations initiatives and implement new marketing strategies to increase brand awareness. He will be responsible for developing and executing a strategic marketing plan that optimizes growth and drives business development. “As ATTOM continues its growth and expansion in the data licensing business, we also have been revitalizing RealtyTrac, one of the original and strongest online brands in the U.S. residential real estate market,” said Rob Barber, CEO of ATTOM Data Solutions. “Rick’s extensive experience in the real estate and mortgage industry, along with his established industry relationships, make him an invaluable addition to the growing RealtyTrac team.” Sharga is no stranger to RealtyTrac. For eight years in the early 2000s, he helped develop its internal and external communications program for eight years. He now returns at a pivotal moment, as RealtyTrac once again positions itself as the premier foreclosure listings and search portal. Sharga returns to RealtyTrac after serving as executive vice president for Carrington Mortgage Holdings and chief marketing officer of the company’s Vylla business unit. He served as the primary spokesperson for the Carrington family of companies and worked with the company’s business development and industry relations teams to identify and secure business partners and opportunities. He also has previously served as chief marketing officer at Auction.com, where he was responsible for rebranding the company from Auction.com to Ten-X, creating new internal communications programs and coordinating the development of a brand architecture that supported both the corporate and business unit brands. Sharga makes regular appearances in major broadcast media such as CNBC, FOX Business, Bloomberg, CBS Evening News, NBC Nightly News, CNN, ABC World News and NPR. He is a founding member of the Five Star National Mortgage Servicing Association and is a member of the board of directors of REOMAC. He has been included in the Inman News Inman 100 in 2013 and 2014.

by admin
Comment Off
667 views

Nuvolo, a Connected Workplace Company and the largest Built on Now partner has announced a new alliance with Deloitte. The alliance leverages Nuvolo’s built on ServiceNow facilities management and space planning capabilities and the acumen and experience of Deloitte’s Real Estate & Location Strategy and ServiceNow Practices. Deloitte will serve as an elite professional services provider for Nuvolo as well as a strategic go-to-market partner for key industries.