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Friday, June 26th, 2020

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Posted by: | Posted on: June 26, 2020

While Not Quite McMansions, Larger Homes in the U.S. Are Making a Comeback

For the past several years, the trend among many luxury homebuyers in the U.S. has been clear: bigger isn’t necessarily better.

Buyers who could easily have sprung for sprawling estates have instead opted for so-called “jewel box” mansions, comparatively small spaces with just a few bedrooms that can be customized to the hilt with cash the owners might otherwise have spent on extra bedrooms or acreage.

As with so many other aspects of day-to-day life, the coronavirus pandemic has turned all that on its head.

“For the longest time, people have been trending toward smaller and more manageable, simplifying their lives,” said Dana Koch, a Corcoran agent based in Palm Beach, Florida. “Now it’s the opposite. I don’t have a single client right now who’s looking to downsize.”

Preferences vary by price range and region, but buyers in every market are eyeing extra space. “I would say [buyers are

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Posted by: | Posted on: June 26, 2020

The Simple Reason Why There is No Bid-Ask Spread in Affordable Housing

The affordable housing asset class was attracting investors of all sizes long before the pandemic struck. Companies such as Blackstone, PGIM and Starwood, for example, have all staked out a position in this category in recent years. 

Now, with the pandemic well underway and showing little signs of easing, investors are even more eager to acquire these properties despite the overarching concerns in commercial real estate about incomes and long-term growth, according to Doug Childers, co-head of JLL Affordable Housing. 

“More people are expected to qualify to live in affordable housing in the future” due to the pandemic’s significant economic effects, he tells GlobeSt.com. 

Could this be the reason why there is no bid-ask spread with affordable housing assets? No, Childers says. “The reason we are not seeing a bid-ask spread with affordable housing is because these rents are backed by the federal or local governments. Also, there is an

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Posted by: | Posted on: June 26, 2020

The Office is Down But Not Out

Most office workers don’t miss cramming into a packed subway train or sitting in bumper to bumper traffic twice a day. But they do miss the interactions they have with others at the office, a dedicated workspace and even their ergonomic workstations. 

A new report by JLL finds that although the nature of the office may be changing due in large part by the relative success of remote working, it isn’t going to disappear. 

The report identified four factors that would play a role in the future of the working office: the prevalence (and success/failures) of remote working options, office design, technology and commuting patterns. 

With regard to remote working, a survey within the report suggests that while commuting time and hassle is reduced, people miss the social interaction of office culture, with 44% of respondents saying they missed the day to day interactions. The survey also said 31% missed

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Posted by: | Posted on: June 26, 2020

CRE Deal Activity in May Was ‘Dismal’, RCA Says

Real Capital Analytics says uncertainty from investors continues to climb and US commercial property sales fell again last month with the coronavirus pandemic.

“The headline figures for deal activity in May are dismal,” RCA wrote in a report. “Investor uncertainty continues to mount as it remains unclear the extent to which Covid-19 will impact the broader economy and sap business demand for commercial property.”

The report says many investors are making the choice to sit on the sidelines. The new report comes as the US  remains in the throes of a coronavirus pandemic, which has forced many businesses to rethink how they will prevent the spread of the deadly virus.

Last month, overall volume came in at $9.8 billion, according to the company, and transaction volume dropped to the lowest level for a May month since 2010.

“Construction starts have dropped off at a similar pace to that of

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Posted by: | Posted on: June 26, 2020

Karina Smirnoff of ‘Dancing With the Stars’ Is Ready To Waltz Out of Hollywood Hills Home

“Dancing With the Stars” pro Karina Smirnoff recently listed her Mediterranean-style villa in the Hollywood Hills for $1.8 million.


New mom and “Dancing With the Stars” pro Karina Smirnoff hopes to waltz off with a quick sale of her Hollywood Hills, CA, home. The Mediterranean-style villa is on the market for $1.8 million.

Smirnoff bought the three-bedroom, 2.5-bath home in L.A.’s Beachwood Canyon area in 2013 for $1.25 million. Built in 2004 on a secluded lot in the hills, it features numerous balconies to soak in the views.

As is typical of many hillside homes, the street view doesn’t truly show all the

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