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Tag: Real Estate Investment

  • Inked: Long Island commercial property sales total $12.5 million | Long Island Business News

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    55 2nd Ave.,

    Queens-based TempWork Staffing Solutions Inc. purchased the 15,000-square-foot office building on 1.9 acres at 55 2nd Ave. in Brentwood for $5.3 million. The building is about 65 percent occupied, and TempWork plans to occupy about 5,000 square feet of the available space. The company, which also has offices in Elmhurst, Queens, is relocating its Suffolk County office from 2000 Brentwood Road. The sale price equates to a 5.5 percent cap rate. Founded in 2011, TempWork Staffing Solutions offers a variety of services, including seasonal staffing, contingent staffing, payroll services and more. Giuseppe Gregorio, Luca DiCiero and Nick Evangelista of NY Space Finders represented the buyer, while Mario Vigliotta of NAI represented the seller, 157 Cliff Road Partners LLC, in the Brentwood sales transaction.

     

    47 and 57 Hillside Ave.,  28 Locust St.,

    A three-building office portfolio in Manhasset has sold for $3.9 million.

    Mark Udell, the owner of London Jewelers, purchased a three-building office portfolio that totals 11,900 square feet, as well as a 5,000-square-foot parking lot. The properties in the portfolio include a two-story, 7,000-square-foot office building at 47 Hillside Ave.; a 4,000-square-foot office building at 57 Hillside Ave.; and a 900-square-foot office building at 28 Locust St. The building at 57 Hillside Ave. is fully occupied by three tenants and 28 Locust St. is occupied by a single tenant. The second floor of the building at 47 Hillside Ave. is occupied, and the currently vacant first floor will be used by London Jewelers for its jewelry repair operations, according to a broker on the deal. Kyle Crennan, Joe Lopresti and Brian Weigold of JLL represented the buyer, as well as the sellers, MAG Hillside LLC, RJG Hillside LLC, JVG Hillside LLC and DAG Hillside LLC, in the sales transaction.

     

    116-118 Broadway,

    118 Broadway LLC, an affiliate of a Long Island investor, purchased a 5,220-square-foot commercial building on .22 acres at 116-118 Broadway in Lynbrook for $1.75 million. The building, which has office space above three stores, is currently occupied by one tenant, Philly Pretzel Factory. Ron Koenigsberg and Dawn Gingold of American Investment Properties represented the buyer, as well as the seller, Phil Civello, in the sales transaction.

     

    3944-3954 Merrick Road,

    Local commercial real estate investor John DeCrescenzo purchased a 6,576-square-foot retail building on .32 acres at 3944-3954 Merrick Road in Seaford for $1.53 million. The building has two stores that are occupied by a hair salon and a chiropractic office. Ron Koenigsberg and Dawn Gingold of American Investment Properties represented the buyer, as well as the seller, Ryan Crest Corp., in the sales transaction.


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    David Winzelberg

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  • Manhasset office portfolio sells for $3.9M | Long Island Business News

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    A three-building in Manhasset has sold for $3.9 million. 

    , the owner of , purchased the three buildings that total 11,900 square feet, as well as a 5,000-square-foot parking lot. 

    The properties in the portfolio include a two-story, 7,000-square-foot office building at 47 Hillside Ave.; a 4,000-square-foot office building at 57 Hillside Ave.; and a 900-square-foot office building at 28 Locust St. 

    The building at 57 Hillside Ave. is fully occupied by three tenants and 28 Locust St. is occupied by a single tenant. 

    The second floor of the building at 47 Hillside Ave. is occupied, and the currently vacant first floor will be used by London Jewelers for its jewelry repair operations, according to a broker on the deal. 

    Kyle Crennan, Joe Lopresti and Brian Weigold of  represented the buyer, as well as the sellers, MAG Hillside LLC, RJG Hillside LLC, JVG Hillside LLC and DAG Hillside LLC, in the sales transaction. 

    “We are pleased to have successfully completed the sale of the Manhasset office portfolio to Mark Udell, who recognized the unique opportunity to acquire income producing assets with space available for his own business operations,” Crennan, managing director at JLL, told LIBN. “The portfolio’s prime location just one block from the Manhasset LIRR station and proximity to the made this a rare acquisition opportunity.” 


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    David Winzelberg

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  • Why You Should Consider Commercial Real Estate as Your Next Investment | Entrepreneur

    Why You Should Consider Commercial Real Estate as Your Next Investment | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Real estate is one of the biggest industries in today’s world. From buying property as an investment to buying your own home, real estate impacts every person’s life in one way or another. Although it’s a beast of an industry, you do not necessarily have to work in real estate to invest in it. In fact, many people buy properties simply to make a passive income with no intention of making it their full-time job.

    Here are some reasons why commercial real estate could be a great investment for you.

    Related: Tap Into the Wealth Potential of Commercial Real Estate With These 5 Tips

    Passive income

    By investing in a property, you are going to be able to make a passive income — a check you don’t have to actively work for. Depending on the property you buy, you can rent out the space to tenants and get paid each month that they occupy the building. In turn, the income can be recycled to pay for the property and its expenses or be used to invest in other properties without having to touch other funds. This is great because this is monthly income that you do not have to actively work for.

    Tax advantages

    By investing in real estate, there are many deductions and breaks that can actually help when it comes to paying your taxes. Also, any money you make on the sale of the property will be seen as capital gains and not an income, therefore lowering the amount of taxes you would have to pay on that money.

    Cash flow

    As you rent out the property and the tenants pay their rent, you will create a steady cash flow for yourself and increase your own income. As the mortgage gets paid, this will also help build your equity, which can help you invest in more properties and build up overall wealth.

    Diversification

    When investing money, it is always good to invest in different types of assets to ensure you have stable and reliable returns. Commercial real estate can diversify a portfolio — and in case of a market crash, properties remain unaffected, whereas stocks and bonds plummet. It’s also a tangible asset that you can touch and feel, unlike other forms of investments. Tangible assets can help minimize the total risk in investments and help you build a profitable portfolio.

    Related: 6 Key Questions You Should Always Ask Before Investing in a Commercial Real-Estate Property

    Leverage

    Most times, buying a piece of real estate requires an initial cash investment. That investment can gain a very high return that can completely cover the debts of the property. For example, if you pay a down payment of 20% and the other 80% is debt, the property only needs to appreciate 20% for the invested equity to be 100%. However, this comes with the risk that if the property does not become profitable, it may have to go into foreclosure if the monthly payments cannot be made.

    Appreciation

    Real estate investments offer a lot of potential growth and appreciation that you may not have in more classic avenues of investing. For example, an investor can choose to buy and develop a property in an area they believe is up-and-coming. In that case, as the popularity of the neighborhood increases, the value of their property significantly rises and can lead to great capital appreciation.

    Inflation hedge

    As the economy grows and inflation rises and falls, commercial real estate doesn’t feel the long-term impacts. Luckily, rents can be adjusted accordingly to the inflation rate and offset the impact. This results in strong rent growth and appreciation for your property, despite any worsening conditions in the economy. With other investments like stocks and bonds, inflation almost always has a negative impact.

    On the flip side…

    Commercial real estate, like any investment, has downsides as well.

    For starters, it’s a time commitment. Investors need to put time into managing and taking care of the property and its tenants. All of the building concerns and problems fall into the lap of the owner, so that aspect needs to be taken into consideration.

    This leads to another downside — managing and taking care of the building usually requires outside help, like property management companies. These companies are not cheap and can be costly. However, this is really the only way to properly run the building and avoid running into issues.

    This leads to the need for cash. Unlike residential real estate, commercial properties need a lot more capital for the initial investment and then cash that needs to be put into the property to maintain it. This makes commercial real estate investing unappealing since there are a lot of costs to carry the property, and it can take time for the revenue to outweigh the costs.

    Related: 5 Proven Steps to Become a Real Estate Millionaire, According to an Investor

    At the end of the day, every investment comes with risks. No investment is guaranteed. However, some may be a little bit more secure than others. Commercial real estate is a great idea if you’re someone looking to diversify your portfolio and find another way to increase your wealth. Although it may be daunting, and the initial investments can be scary, the returns can be very high and worth it!

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    Erica Dushey Sarway

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  • Private equity, private debt and more alternative investments: Should you invest? – MoneySense

    Private equity, private debt and more alternative investments: Should you invest? – MoneySense

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    What are private investments?

    “Private investments” is a catch-all term referring to financial assets that do not trade on public stock, bond or derivatives markets. They include private equity, private debt, private real estate pools, venture capital, infrastructure and alternative strategies (a.k.a. hedge funds). Until recently, you had to be an accredited investor, with a certain net worth and income level, for an asset manager or third-party advisor to sell you private investments. For their part, private asset managers typically demanded minimum investments and lock-in periods that deterred all but the rich. But a 2019 rule change that permitted “liquid alternative” mutual funds and other innovations in Canada made private investments accessible to a wider spectrum of investors.

    Why are people talking about private assets?

    The number of investors and the money they have to invest has increased over the years, but the size of the public markets has not kept pace. The number of operating companies (not including exchange-traded funds, or ETFs) trading on the Toronto Stock Exchange actually declined to 712 at the end of 2023 from around 1,200 at the turn of the millennium. The same phenomenon has been noted in most developed markets. U.S. listings have fallen from 8,000 in the late 1990s to approximately 4,300 today. Logically that would make the price of public securities go up, which may have happened. But something else did, too.

    Beginning 30 years ago, big institutional investors such as pension funds, sovereign wealth funds and university endowments started allocating money to private investments instead. On the other side of the table, all manner of investment companies sprang up to package and sell private investments—for example, private equity firms that specialize in buying companies from their founders or on the public markets, making them more profitable, then selling them seven or 10 years later for double or triple the price. The flow of money into private equity has grown 10 times over since the global financial crisis of 2008.

    In the past, companies that needed more capital to grow often had to go public; now, they have the option of staying private, backed by private investors. Many prefer to do so, to avoid the cumbersome and expensive reporting requirements of public companies and the pressure to please shareholders quarter after quarter. So, public companies represent a smaller share of the economy than in the past.

    Raising the urgency, stocks and bonds have become more positively correlated in recent years; in an almost unprecedented event, both asset classes fell in tandem in 2022. Not just pension funds but small investors, too, now worry that they must get exposure to private markets or be left behind.

    What can private investments add to my portfolio?

    There are two main reasons why investors might want private investments in their portfolio:

    • Diversification benefits: Private investments are considered a different asset class than publicly traded securities. Private investments’ returns are not strongly correlated to either the stock or bond market. As such, they help diversify a portfolio and smooth out its ups and downs.
    • Superior returns: According to Bain & Company, private equity has outperformed public equity over each of the past three decades. But findings like this are debatable, not just because Bain itself is a private equity firm but because there are no broad indices measuring the performance of private assets—the evidence is little more than anecdotal—and their track record is short. Some academic studies have concluded that part or all of private investments’ perceived superior performance can be attributed to long holding periods, which is a proven strategy in almost any asset class. Because of their illiquidity, investors must hold them for seven years or more (depending on the investment type).

    What are the drawbacks of private investments?

    Though the barriers to private asset investing have come down somewhat, investors still have to contend with:

    • lliquidity: Traditional private investment funds require a minimum investment period, typically seven to 12 years. Even “evergreen” funds that keep reinvesting (rather than winding down after 10 to 15 years) have restrictions around redemptions, such as how often you can redeem and how much notice you must give.
    • Less regulatory oversight: Private funds are exempt from many of the disclosure requirements of public securities. Having name-brand asset managers can provide some reassurance, but they often charge the highest fees.
    • Short track records: Relatively new asset types—such as private mortgages and private corporate loans—have a limited history and small sample sizes, making due diligence harder compared to researching the stock and bond markets.
    • May not qualify for registered accounts: You can’t hold some kinds of private company shares or general partnership units in a registered retirement savings plan (RRSP), for example.
    • High management fees: Another reason why private investments are proliferating: as discount brokerages, indexing and ETFs drive down costs in traditional asset classes, private investments represent a market where the investment industry can still make fat fees. The hedge fund standard is “two and 20”—a management fee of 2% of assets per year plus 20% of gains over a certain threshold. Even their “liquid alt” cousins in Canada charge 1.25% for management and a 15.7% performance fee on average. Asset managers thus have an interest in packaging and promoting more private asset offerings.

    How can retail investors buy private investments?

    To invest in private investment funds the conventional way, you still have to be an accredited investor—which in Canada means having $1 million in financial assets (minus liabilities), $5 million in total net worth or $200,000 in pre-tax income in each of the past two years ($300,000 for a couple). But for investors of lesser means, there is a growing array of workarounds:

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    Michael McCullough

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  • Yes, a cottage is an investment property—here’s how to minimize capital gains tax – MoneySense

    Yes, a cottage is an investment property—here’s how to minimize capital gains tax – MoneySense

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    Should you keep renting a cottage or buy one?

    You don’t need me to explain the personal perks of having a vacation home or a cottage. But to many people, a cottage is also an investment. There are costs and hopefully returns, especially if you decide to rent it out. If you hope to buy, find out what you need to pay beyond the listing price and how you might finance the purchase.

    Read: Is a vacation home a good investment?

    Is there a capital gains tax exemption for a cottage?

    Sorry to be the bearer of bad news, but there isn’t. There was once a lifetime capital gains exemption of $100,000, but that no longer exists. It only applied in Canada from 1984 to 1994. There are other ways to minimize taxes on the sale of a cottage, though. What about selling to a family member: Can you avoid taxes that way? It depends on a few factors, such as the relationship, if the second property can be claimed as a principal residence, and more.

    Read: Can I sell my cottage tax-free?

    Read: Selling a cottage to a family member: What that means for capital gains

    Do you pay tax when inheriting a cottage?

    The short answer: It depends on your relationship to the person who owns it. Are you an extended family member? Their adult child? Or are you their spouse? Find out how inheriting a cottage can affect taxes for a spouse with children and the steps to take to minimize what’s owed. 

    Read: Inheriting cottage and the capital gains implications

    How to reduce taxes on the sale of a cottage

    This next article goes through the multiple factors that can influence how you plan for capital gains on family-owned cottages, including: 

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    Lisa Hannam

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  • What happens if you delist your condo? – MoneySense

    What happens if you delist your condo? – MoneySense

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    This is good news for aspiring condo buyers, who now have larger inventories to choose from. But it’s trouble for those trying to sell their condo, who may have to either significantly reduce their asking price or, in a worst-case scenario, delist their property until the sellers’ market becomes more favourable.

    Growing numbers of condo owners are choosing the latter option. But what sort of consequences may they face for that decision?

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    Will you have to reimburse your realtor for their expenses?

    Rick Kedzior, president of the Ontario Real Estate Association, says that province’s Trust in Real Estate Services Act is of great help to sellers in this scenario, thanks to the mandatory requirements it places upon agents. B.C., Alberta and Manitoba have all introduced or updated similar laws to Ontario’s in recent years.

    “When an agent takes on a listing, they supply the seller with a schedule of the services that are going to be provided, and that schedule also specifies who will be paying for what,” Kedzior says. “From an agent’s perspective, staging and any other ancillary services they’re providing is the cost of doing business. Another example is any costs associated with an MLS listing. I’ve never seen a situation where the seller gets stuck with having to pay for that.”

    The only (and rare) situation when the seller could get stuck with a bill would be spelled out in the listing agreement. “When you have the meeting to list your home, they may say, we’re going to provide staging or paint the house for you, or some things like that,” says Ahren Spylo, a spylorealty.com broker with Keller Williams Realty in Waterloo, Ont. “And if you decide to take the condo off the market, then they may like to settle whatever that cost is. But that would have to be predetermined.” Make sure you understand the Agreement of Purchase and Sale when you sign it.

    Are there less tangible costs to delisting a condo?

    There can be a stigma associated with a property that gets pulled off the market without selling. “So you put it on the market for, say, 90 days—that’s kind of the norm—and then you take it off the market. There would be, from an agent’s perspective, a question of ‘What happened to that listing?’ ” Kedzior says. But it’s hard to quantify.

    There can, of course, be a very real opportunity cost if you end up changing your life plans as a result of the non-sale. It could interfere with plans to accept a new job in a different community, or force you to pay for upgrades needed to make the property suitable for renting out or accommodating a growing family.

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    Michael White

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  • LakePoint Sports Shines as Travel and Youth Sports Surge

    LakePoint Sports Shines as Travel and Youth Sports Surge

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    ATLANTA, July 11, 2024 (Newswire.com)
    –
    LakePoint Sports, the premier travel and youth sports destination in the country, adds new line-up of initiatives, partnerships, media, and more to fuel momentum as the travel and youth sports industry and sports participation are experiencing rapid growth.

    According to the 2024 Sports Events and Tourism Association (Sports ETA) Annual Report, the sports tourism sector reached a staggering $52.2 billion in direct spending in 2023, with a total economic impact of $128 billion. “Sports Tourism is a massive industry, growing exponentially, impacting local communities and state economies,” stated John David, President and CEO, Sports ETA. The industry supports over 750,000 jobs and contributes $20.1 billion in taxes, highlighting its vital role in the economy. “Sports ETA is working closely with city and county tourism leaders from across the country to realize the economic impact of sports tourism and the benefits of public private partnerships,” added Mr. David.

    LakePoint Sports is experiencing first-hand the national trends playing out on its sprawling 1,300-acre campus. ”LakePoint is keeping pace with the tremendous momentum the industry is riding” stated Dean Keener, SVP, LakePoint Sports. “Over the past five years LakePoint’s top-line revenue has grown +149% and Operating EBITDA is +234%,” added Keener. “It’s been an exciting time and 2024 is proving to be another incredible year with new initiatives and events already making an impact.”

    A significant increase in sports participation can be attributed to some of the industry growth. According to the 2024 Sports and Fitness Industry Association (SFIA) Annual Topline Participation Report, in 2023 there was participation growth across major sport categories, including, baseball up 7.6%, basketball up 5.6%, cheerleading up 8.3%, football 7v7 up 9.1%, gymnastics up 4.1%, lacrosse up 5.5%, outdoor soccer up 8.1%, and court volleyball up 13.4%.

    LakePoint Sports maintains a 90% retention rate for the events and programs across its campus driven by each of the same sports seeing growth nationally. “We continue to pursue opportunities to elevate the experience for the tournaments, showcases, camps, clinics and special events for the sports that are also growing nationally as they are the most popular on the LakePoint campus,” added Keener.

    LakePoint Sports led off 2024 with a plethora of new initiatives focused on elevating the guest experience inside and outside the lines. At The Baseball Village, all eight state-of-the-art baseball fields were re-turfed by Geo Surfaces, 120,000 square feet of hardwood was re-furbished at the Champions Center, as well as new additions coming to the recently re-turfed three-filed multi-purpose field complex, which will feature a new naming rights partner. “I promise you, there is never a dull moment on the LakePoint Sports campus,” stated Josh Laney, Co-Team Lead, Guest Experience. “Everyday the LakePoint Team is focused on delivering excellence in the guest experience, by sport, event and venue,” added Laney.

    LakePoint’s partnerships and media initiatives continue to be a momentum catalyst. With over sixty corporate partners, including global, national, regional, and hyper-local brands, guests can have an immersive LakePoint campus experience with a variety of brand offerings. LakePoint’s media platform, LakePoint Live powered by Pixellot will broadcast over thirty games in 2024 and provide access to hundreds more. Additionally, from a dynamic social media presence, ever-evolving content and storytelling initiatives, eight sold out Champions Weekends peppered throughout the year, Johnsonville’s “Keep It Juicy” national campaign activation platform to the award-winning Barnsley Resort where guests can enjoy a pre or post tourney vacation, a day of golf or a fine dining experience, there’s something for the millions annually visiting the LakePoint campus. “Brands like Yanmar, Coca-Cola, Audi, Body Armor, Rawlings, and Baseballism to name a few, have embraced the LakePoint Sports partnership platform to engage our shared customers in ways that build brand awareness, drive meaningful business results for their brand and elevate the LakePoint guest experience,” stated Greg Barckhoff, SVP, LakePoint Sports Partnerships and Marketing. “Other brands like Pomi Insurance, Amaryllis + Main Boutique, and multiple tech brands have seized the opportunity to grow their business while engaging a captivated audience,” added Barckhoff.

    Equally exciting is the real estate transformation that is taking place across the LakePoint Sports campus and the immediate area surrounding the campus. The incredible views from the rooftop bar of the new Element Hotel by Westin, set to open this fall, highlight the real estate development boom in Bartow County as there is construction taking place in every direction of the campus with more on the horizon. “We created a LakePoint Sports, and I-75 hotel strategy based on the growth and momentum at LakePoint Sports and Bartow County,” stated Nim Patel, President and CEO, Horizon Hospitality. “Our new Element Hotel will create a new standard for the millions of LakePoint Sports guests visiting campus annually as well as our local community in this region of Georgia,” added Patel.

    While the travel and youth sports industry continues to surge through the first half of 2024, LakePoint Sports momentum accelerates. With a full slate of Champions Weekends, National Championships, Live Period events, LakePoint Live broadcasts, and a multitude of brand activations and real estate construction abound, exciting times, and opportunities remain at the forefront for LakePoint Sports for the back half of 2024.

    To learn more about the growth and momentum at LakePoint Sports, click here.

    About LakePoint Sports:

    LakePoint Sports, the premier travel and youth sports destination in the country, encompasses a sprawling 1,300-acre campus featuring five premium venues: the Champions Center Indoor Pavilion, the Baseball Village, the Multi-Purpose Fields Complex, the Beach Pavilion, and Terminus Wake Park. Focused on delivering excellence in the guest experience and fostering world-class partnerships, LakePoint annually hosts millions of guests from across the globe and attracts athletes to compete against the nation’s best. Leveraging influential media platforms and pioneering innovative technology, LakePoint Sports is dedicated to setting the standard in travel and youth sports.

    Source: LakePoint Sports

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  • Is a vacation home a good investment? – MoneySense

    Is a vacation home a good investment? – MoneySense

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    Sometimes, emotions are the motivation for buying a vacation property. I like to evaluate a property purchase from a financial point of view as well—and here’s how. 

    The costs of buying a vacation property

    Say, a property’s purchase price is $500,000. Whether you use cash, a mortgage/home equity line of credit, or a combination of the two, there are other costs to consider.

    If you purchase with cash that you could otherwise invest for a 4.5% return (to use a conservative assumption), there is an opportunity cost of not investing that money or leaving it invested. If you borrow money, there may be an interest cost of 4.5%. So, to keep it simple, we will assume an opportunity cost or financing cost of 4.5%. 

    Property taxes, utilities, insurance, condo fees, and maintenance could easily add another 2% to 4% per year in costs. Those costs could be even higher for an older cottage or for a property with amenities and high fees, but we will assume 3% per year for discussion purposes.

    So far, our costs are up to 7.5% per year on a $500,000 property, which works out to $37,500 per year for our notional vacation property. 

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    Expected returns on vacation properties

    What about the financial return from owning the property? Canadian real estate prices have risen by about 6.3% per year for the 10 years, ending Dec. 31, 2023. Over the past 30 years, the increase is about 5.1%. Some cities have seen much higher growth rates, and others much lower. Prices have also cooled off significantly in the past couple of years. (Check out MoneySense’s guide on where to buy real estate in Canada.)

    Over the long run, in the U.S., real estate prices have risen just slightly more than inflation. In fact, since 1890, U.S. real estate has increased by less than 0.6% per year above the rate of inflation. Given the Bank of Canada’s 2% inflation target, despite a recent spike in the cost of living, I would argue a more reasonable long-term growth rate for real estate is 2% to 3%.

    So, we will assume the value of our notional $500,000 property grows at 3% per year; in the first year, that would be $15,000. That means the net cost in year one of owning the property is 7.5% (or $37,500) minus 3% (or $15,000), totalling 4.5% (or $22,500).

    Buying versus renting a vacation home 

    If you are contemplating a $500,000 vacation property purchase, and you think my assumptions are reasonable, you need to ask yourself: Are you going to get $22,500 worth of use out of the property? Could you rent a comparable property for less than $22,500 per year, for the time you plan to use it? If you could, a vacation property purchase may not be the best financial choice.

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    Jason Heath, CFP

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  • Where to buy a home for under $1 million in Canada – MoneySense

    Where to buy a home for under $1 million in Canada – MoneySense

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    But if you have some flexibility around where to live, there are cities and neighbourhoods in Canada where homes can be had for less than seven figures—lots of them, in fact. All but five of the 45 cities and regions analyzed by our partner Zoocasa in this year’s Where to Buy Real Estate in Canada report had benchmark prices below $1 million (as of the end of 2023).

    See the list of Canadian cities and regions below, in order of most to least affordable (followed by neighbourhood data for Toronto and Vancouver). You can sort the data in each table by tapping on the column headers, or filter results using the last row. You can download the data to your device in Excel, CSV and PDF formats. 

    Canadian cities and regions with a benchmark price under $1 million

    Prohibitively high prices around Greater Toronto and B.C.’s Lower Mainland can obscure the fact that the national average home price was a tad under $735,000 in 2023, according to the benchmark Zoocasa used in its analysis.

    And even in the regions with benchmark prices above the $1-million threshold, the survey demonstrates there are more affordable neighbourhoods to be found. It should be noted our statistics do not differentiate between housing types, so don’t expect to find detached homes for these prices in these cities. But it’s still possible to get a toehold in the market with a condo or townhouse for less than $1 million, sometimes a lot less.

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    Where to get a home for less than $1 million in Toronto

    Our survey turned up no less than 106 neighbourhoods in the city of Toronto with benchmark prices below $1 million—the most affordable being Tandridge, with a benchmark price of just $484,269.

    Toronto neighbourhoods

    With prices like those, you might assume there’s something wrong with these neighbourhoods. Consider that a lot of them are coming up in the world. Tandridge, along with Rivalda Heights, Keelegate, Humbergate, Cook Village, Duncanwoods, Morningside, Woodbine Downs, South Steeles, Glenfield, Chapel Glen, Dorset Park, Glen Long and Mount Olive have all seen price appreciation of 50% or more over the past five years. Yorkwoods and University Village have both gone up more than 80%, and Beaumond Heights, an astonishing 113%!

    Beyond those in the city of Toronto, we count an additional 65 neighbourhoods across the Greater Toronto Area where the benchmark price was below $1 million at the end of 2023.

    Greater Toronto Area neighbourhoods

    How much would a typical home in Toronto’s Tandridge neighbourhood cost you in monthly mortgage payments? Using a mortgage payment calculator, we find that with the minimum down payment of $24,213 and a mortgage of 25 years, you’d be looking at a monthly payment of $2,685—based on the lowest available five-year fixed mortgage rate on June 13. Add in taxes, insurance and fees, and you’d need a total of $40,706 in cash to close the deal. With 20% down ($96,854), the monthly payment would be $2,240 on a 25-year amortization.

    Where to get a home for less than $1 million in Vancouver

    In the city of Vancouver, which represents less than one-quarter of the Metro Vancouver population, we counted just six enclaves with benchmark prices under $1 million.

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    Michael McCullough

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  • Rates are going down—is now a good time to buy a house in Canada? – MoneySense

    Rates are going down—is now a good time to buy a house in Canada? – MoneySense

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    The housing supply issue is improving

    It comes after some of Canada’s largest cities have seen ballooning home listings in recent months from droves of sellers listing their properties, despite demand from potential buyers not keeping up. That includes the Greater Toronto Area, where new listings last month jumped 21.1% year-over-year, with 18,612 properties put on the market. Calgary and Vancouver have seen similar trends, with new listings rising 18.7% and 12.6%, respectively, year-over-year in May. But home sales declined in all three cities. In Toronto, there were 21.7% fewer sales in May year-over-year, the Toronto Regional Real Estate Board reported Wednesday.

    The board said 7,013 homes changed hands in the month compared with 8,960 in May of last year, which coincided with a brief market resurgence. TRREB president Jennifer Pearce said homebuyers were waiting for “clear signs” of declining mortgage rates before going ahead with purchasing a property.

    “Typically when rates go down, prices go up.”

    The effects of the rate cut on the housing market in Canada

    “As borrowing costs decrease over the next 18 months, more buyers are expected to enter the market, including many first-time buyers,” she said in a press release. “This will open up much needed space in a relatively tight rental market.”

    Around 56% of Canadian adults who have been active in the housing market said they have been forced to postpone their property search since the Bank of Canada began raising its key lending rate from near zero in March 2022, according to a Leger survey earlier this year commissioned by Royal LePage. Among those waiting on the sidelines, just over half said they would resume their search if interest rates went down, including one-in-10 who indicated a 25-basis-point drop would be enough for them to jump back in.

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    Canadian home buyers waiting for cuts

    “There certainly is pent-up demand,” said Karen Yolevski, chief operating officer of Royal LePage Real Estate Services, in an interview. “Typically when rates go down, prices go up. So this would be the time where people come off the sidelines, knowing and anticipating that prices are likely to rise.”

    In the Greater Toronto Area, the average selling price of a home was down 2.5% year-over-year to $1,165,691 last month. There were 2,701 sales in the City of Toronto, a 17.3% decrease from May 2023, while throughout the rest of the GTA, home sales fell 24.3% to 4,312.

    In general, buyers have been looking for some positive signs,” said Scott Ingram, a sales representative with Century 21 Regal Realty in Toronto. “The sentiment effect of this always punches above the actual dollar and cents. When people are looking for any bit of good news, they’ll take it.”

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  • Where to Buy Real Estate in Canada 2024: Neighbourhood data – MoneySense

    Where to Buy Real Estate in Canada 2024: Neighbourhood data – MoneySense

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    For more information on real estate trends and the top neighbourhoods in each region, as well as insights on the top-ranked regions nationally, return to the national page or select a region from the drop down menu.

    Halifax Regional Municipality, N.S.

    Toronto, Ont.

    Peel Region, Ont.

    York Region, Ont.

    Durham Region, Ont.

    Halton Region, Ont.

    Edmonton, Alta.

    Calgary, Alta.

    Vancouver, B.C.

    North Shore, B.C.

    North Vancouver and West Vancouver

    Tri-Cities, B.C.

    Coquitlam, Port Coquitlam and Port Moody

    Burnaby, New Westminster and Richmond, B.C.

    Pitt Meadows and Maple Ridge, B.C.




    About Zoocasa

    Zoocasa is an award-winning consumer real estate search portal. It uses data and technology to deliver an intelligent, end-to-end real estate experience.

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  • Best places to buy real estate in Vancouver – MoneySense

    Best places to buy real estate in Vancouver – MoneySense

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    Best places to buy real estate in Vancouver

    In the table below, you’ll find the best Vancouver neighbourhoods for real estate purchases. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

    Source: Zoocasa

    Top three neighbourhoods in Vancouver

    The steep price tag of homes in Point Grey is justified by their extravagant features. Sprawling mansions grace expansive properties that seamlessly blend into meticulously maintained streets. In spite of a 2023 benchmark home price of $2,532,842, Point Grey has seen steady price growth in recent years. In many Vancouver neighbourhoods, the benchmark home price stalled or fell over the last year, but Point Grey’s benchmark price was 6% higher than in 2022. It was 24% higher than in 2020 and 14% higher than in 2018, earning Point Grey a value score of 3.9. 

    Point Grey’s housing stock is mainly luxury houses, and many of Vancouver’s premier amenities are nestled within or near this opulent community. Everything is conveniently within reach, from top-tier schools like Queen Mary Elementary, Lord Byng Secondary, Jules Quesnel Elementary and West Point Grey Academy to exceptional recreational facilities like Jericho Tennis Club, Royal Vancouver Yacht Club and Brock House. While Point Grey may seem like an exclusive gated community reserved for the elite, a mix of residents calls this neighbourhood home, including working professionals, business owners, faculty members of the University of British Columbia, artists, university students and young families. One drawback of Point Grey is its accessibility score of 1.9, which is the third-lowest in Vancouver.

    View Point Grey real estate listings on Zoocasa.

    One of the more expensive areas of the city, Dunbar is located near the University of British Columbia campus. It’s home to a mix of high-income people and older residents who bought in years ago. That’s why you’ll find everything from enormous mansions to small bungalows in this neighbourhood. And it’s why Dunbar had a 2023 benchmark home price of $3,044,625. However, home prices aren’t increasing as fast as those in other Vancouver neighbourhoods. The benchmark price remained unchanged last year, and it was 12% higher than in 2020 and just 7% higher than in 2018. As a result, Dunbar has a value score of 1.8. Its neighbourhood economics score of 5.0 helped propel it to the number two spot on our list.

    Residents in this area love the local golf course and their easy access to the forested trails of Pacific Spirit Regional Park. Indeed, the area has a lot of parks—as well as riding stables nearby. While there are several great public schools in Dunbar, the area is known for its private schools, including Crofton House and St. George’s. Dunbar has a family feel, with many baseball diamonds and soccer fields for extracurricular activities. It’s no surprise that it has Vancouver’s highest concentration of households with children (at 51%). Because the housing stock is mostly single-family homes, Dunbar is not as accessible as other areas of the city, but it still has a decent accessibility score of 2.9 out of 5. 

    View Dunbar real estate listings on Zoocasa.

    Killarney is perched on East Vancouver’s south-facing slope, offering a scenic view of the Fraser River. Housing costs in this area are relatively more reasonable compared to downtown, offering home buyers a balance between affordability and proximity to the city centre. But having seen significant price growth in recent years, homes here are also a great investment. Killarney’s 2023 benchmark home price was $1,677,192, which was 1% higher than in 2022, 30% higher than in 2020, and 27% higher than in 2018. That works out to a value score of 4.4.

    As one of the newer neighbourhoods in Vancouver, Killarney radiates a stronger connection to nature and a distinct lack of congestion. However, it falls short in terms of accessibility, earning a neighbourhood accessibility score of only 0.7. Known for its tranquility, Killarney features small shopping plazas and residential cul-de-sacs. With four public schools, including the notable Killarney Secondary—the largest secondary school in Vancouver—the neighbourhood has a large number of households with children (47%).

    View Killarney real estate listings on Zoocasa.

    In 2013, Vancouver home prices followed a trajectory similar to those in other markets; the benchmark price continuously climbed until it reached a peak of $1,210,700 in July, and then it gradually declined, finishing the year at $1,168,700. Despite higher borrowing costs last year, the Vancouver real estate market still experienced price growth, with the benchmark price rising by about 5% from January to December. Most of this price growth occurred in the first half of the year, driven by an exceptionally limited supply of homes. 

    Demand for the more affordable home types stalled, while the luxury market saw less of a slowdown. “The price of luxury homes went up quite a bit last year,” says Geoff Pershick, a local eXp real estate agent. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.) “More homes sold for more money than expected, and it speaks to the influx of capital that is coming to the area.” 

    High interest rates deterred many sellers from listing last year and prompted many buyers, including cash buyers, to postpone their purchases. But better conditions are already emerging for 2024. 

    “The global wealth shift is ushering in an increasingly diverse group of buyers to Vancouver,” says Pershick. “Last year’s uncertainties might have slowed down [real estate] activity, but with interest rates finding their footing and a sense of stability returning, I’m expecting a resurgence of cash buyers.”

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    What’s next for real estate in Vancouver?

    The number of Vancouver home sales was up about 6% month-over-month in January, and up about 45% month-over-month in February, according to Greater Vancouver Realtors. If this momentum continues, the Vancouver real estate market is poised to have a stronger year in 2024 than in 2023.

    “As interest rates decline, we’re going to see a surge in buyers alongside a decrease in sellers within the Vancouver market,” says Pershick. “This imbalance will drive property prices up and shape a competitive landscape for potential home buyers.” 

    Though buyer sentiment is improving from 2023, the supply of Vancouver homes has remained scarce since last year, pushing the market further into seller’s territory. “Greater Vancouver is consistently grappling with supply challenges, and I don’t think that will change in 2024,” says Pershick.

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  • Best places to buy real estate in Halifax in 2024 – MoneySense

    Best places to buy real estate in Halifax in 2024 – MoneySense

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    Best places to buy real estate in Halifax

    In the table below, you’ll find the top Halifax neighbourhoods for real estate purchases. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

    Source: Zoocasa

    Top three neighbourhoods in Halifax

    For the second consecutive year, Cole Harbour is the top place to buy a home in HRM. Located east of Dartmouth, Cole Harbour is named after a local harbour. It has easy access to Highway 107 and Highway 111, making it an attractive location. Cole Harbour’s 2023 benchmark home price was $505,774, and that’s the result of consistent price growth in recent years. The benchmark price was 13% higher than in 2022, 66% higher than in 2020, and 69% higher than in 2018, giving Cole Harbour a value score of 4.0. It also has a neighbourhood economics score of 4.3, the third-highest in HRM. 

    The area has several schools—a convenience for the above-average 47% of households with kids. Residents love the area’s beaches and trails, including the Salt Marsh Trail and Rainbow Haven Beach Provincial Park. Cole Harbour is also a popular tourist destination: the quaint Cole Harbour Heritage Farm Museum and Fisherman’s Cove are two must-see stops. However, with the neighbourhood’s accessibility score of 0.6, you’ll likely need a car to get around.

    View Cole Harbour real estate listings on Zoocasa.

    Situated on the Eastern Shore of HRM near the Shearwater Canadian Air Force base, Woodside-Eastern Passage is a popular destination for military families due to its mid-sized community feel. Boasting a dozen eateries, convenient access to Halifax through the Woodside Ferry, the main Nova Scotia Community College campus and abundant character, this emerging neighbourhood proves to be a smart investment and a delightful place to live. Woodside-Eastern Passage’s benchmark home price was $432,486 in 2023, which was 18% higher than in 2022, 64% higher than in 2020, and 97% higher than in 2018. It’s the only neighbourhood in HRM with a perfect value score of 5.0. 

    The area features multiple recent subdivisions that provide a variety of housing options, including semi-detached and detached homes. There are many elementary, junior high and high schools that cater to the 45% of households with children. Like most places in HRM, you’ll likely need a car to live here, though.

    View Woodside-Eastern Passage real estate listings on Zoocasa.

    Located a mere 10 minutes from the airport and 30 minutes from downtown Halifax, the Waverly-Fall River-Beaver Bank area is renowned for its scenic landscape, featuring numerous lakes, expansive open spaces and generously sized lots. It also has the most expensive homes of the top three neighbourhoods on our list, with a 2023 benchmark price of $666,815. That was 8% higher than in 2022, 62% higher than in 2020, and 83% higher than in 2018. Notably, Waverly-Fall River-Beaver Bank has the second-highest economics score on our HRM neighbourhoods list.

    All homes in this area use septic systems; some rely on wells for water, while others are connected to city water. Residential lots are spacious and feature a range of traditional-style homes. Many residences boast lake access, and some even enjoy a lakefront setting. The neighbourhood has many sought-after schools. While the area may have limited amenities, it boasts a well-established canoe and kayak club, multiple daycare facilities, a post office and a convenience store. Living in Waverly-Fall River-Beaver Bank may necessitate owning a car, given its accessibility score of 0.1.

    View Waverly-Fall River-Beaver Bank real estate listings on Zoocasa.

    Unlike the ups and downs of 2022, Halifax real estate prices did not sharply increase or decrease in 2023. The benchmark price consistently rose from January through the end of the spring market and reached a late peak of $530,900 in August. Following this, home prices softened before experiencing a modest rise in December, settling at a benchmark price of $511,600. 

    “In the first quarter of 2023, prices and sales were up, but then the market really slowed down after the spring,” says local eXp real estate agent Richard Payne. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.) “Properties were lingering on the market longer, and we didn’t see multiple offers on a home anymore. By the second half of the year, buyers had shifted to a more cautious stance, preferring to wait on the fence to see how conditions would evolve.”

    As interest rates rose in the summer, buyers experienced some frustration, which morphed into confusion about what to expect from the market, says Payne. “Once buyers got confused, they didn’t feel confident to make any decisions, and this contributed to the slowdown in market activity.” 

    The uncertainty also influenced buyers’ budgets. “A lack of affordable options, especially in the $400,000 to $600,000 range, pushed many buyers to look out of the core and into more of the suburbs,” says Payne. “Homes in that range were getting more attention as interest rates rose.”

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    What’s next for real estate in Halifax?

    The benchmark home price in Halifax has increased by a little more than 1% since December, reaching $518,500 in January. With demand expected to rebound, price growth will likely continue, though that will depend on the mortgage rate outlook. 

    Payne expects the opposite of 2023 to unfold in 2024—with a quiet start to the real estate market, followed by an active second half. “In the beginning of 2023, activity was fairly up, and then as interest rate hikes were announced, it put the brakes on momentum,” he says. “This year, I anticipate a surge in activity in the second half of the year as buyers catch on to falling interest rates and rush back into the market.”

    Buyers who were sitting on the sidelines last year may be better positioned to join the market in 2024. An influx in buyer activity might also encourage more sellers to list their homes, leading to a much-needed bump in the number of homes on the market. 

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  • Housing starts stable in 2023, but demand still outpaces growing supply of apartments – MoneySense

    Housing starts stable in 2023, but demand still outpaces growing supply of apartments – MoneySense

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    The agency released its biannual housing supply report on Wednesday, which showed combined housing starts in the Toronto, Vancouver, Montreal, Calgary, Edmonton and Ottawa regions dipped 0.5% compared with 2022, totalling 137,915 units.

    That was in line with the annual average of around 140,000 new units over the past three years. CMHC deputy chief economist Aled ab Iorwerth said the 2023 numbers came in “better than we thought.”

    “We ended up being positively surprised by 2023. We were really quite concerned that higher interest rates were going to really have an impact,” said ab Iorwerth.

    “They did have an impact, but it seems to have been on smaller structures, single-detached (homes) and so forth.”

    Apartment starts grew 7% to reach a record 98,774 individual units last year. However, those gains were offset by declines in the number of new single-detached homes, which fell 20% year-over-year, due to weaker demand for higher-priced homes in an elevated mortgage rate environment.

    More housing needed to address affordability gaps

    The agency continued to warn about the need to ramp up housing construction to address affordability gaps and significant population growth in Canada.

    It said housing starts are projected to decrease in 2024, despite the CMHC’s forecast that Canada will require an additional 3.5 million units by 2030, on top of what is currently projected to be built, to restore affordability to levels seen around 2004.

    Its report cited rising costs, larger project sizes and labour shortages last year that led to longer construction timelines, prompting various levels of government in Canada to announce new programs aimed at stimulating new rental housing supply.

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    The Canadian Press

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  • 11% of DC homebuyers are investors. Is that good, or bad? – WTOP News

    11% of DC homebuyers are investors. Is that good, or bad? – WTOP News

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    Residential real estate investors bought 18% of all homes that sold in the fourth quarter, and, with elevated home prices and sluggish rents, they’re increasingly attracted to lower-priced homes, according to Redfin.

    Residential real estate investors bought 18% of all homes that sold in the fourth quarter, and, with elevated home prices and sluggish rents, they’re increasingly attracted to lower-priced homes, according to Redfin.

    Last quarter, investors accounted for 26.1% of sales of homes Redfin considers low-priced, in the bottom third of the market, and that’s a record share of low-priced homes investors purchased.

    Redfin defines investor buyers as any institution or business that purchases residential real estate, including corporations, LLCs and real estate investment trusts.

    In the D.C. market, the overall share of investment buyers was considerably less, accounting for 10.9% of home sales in the fourth quarter, according to Redfin. That’s partly because D.C. is an expensive market — but that may not be the only reason for lower investor appetite for area homes.

    “D.C. is a very expensive market, so it is harder for investors to finance those purchases, or to diversify in expensive markets,” said Daryl Fairweather, chief economist at Redfin. “Also, D.C. has strong renter protections, and investors might find those unappealing, because they are ultimately going to be the landlords.”

    The impact on the market for first-time homebuyers is significant. Investor-buyers have more resources, may be less sensitive to borrowing costs and have deeper market knowledge, increasing pressure on an already competitive market for first-time buyers.

    Fairweather said investment buyers also tend to have a positive impact on the overall housing market.

    “These real estate investment trusts are buying properties and renting them out. The people they are renting them out to are typically lower-income, or have less wealth than a first time homebuyer. So, yes the investor purchaser of the home may be boxing out a first-time homebuyer, and that may seem bad from an equity perspective, but the person who is actually renting the home probably has fewer resources than a first-time homebuyer,”

    Pointing the finger at investor-buyers, she said, is not the solution.

    “If all we did was ban investors from buying homes, it would actually make it harder for renters to find place to live, but it would make it easier for first-time homebuyers,” Fairweather said. “What we really need to do is increase the overall supply of housing so everyone can find a place to live, regardless of how they are going about it, whether they are buying or renting.”

    Last summer, Democratic senators Elizabeth Warren and Sherrod Brown, who chairs the Senate Banking Committee, introduced the Stop Predatory Investing Act to restrict tax breaks for large corporate investors that buy local homes, arguing it drives up costs. It would prohibit investors who acquire 50 or more single-family rental homes from deducting interest and depreciation on them.

    A research paper published in March disputed claims that single-family real estate investment trusts are increasing home prices. That paper was authorized in part by the Marshall School of Business, Arizona State University’s W.P. Carey School of Business and the Federal Reserve Bank of Philadelphia.

    Regardless, more buyers for fewer properties continues to put upward pressure on home prices. In December, the total supply of homes for sale was 5.1% lower than a year earlier, and far below pre-pandemic levels.

    Get breaking news and daily headlines delivered to your email inbox by signing up here.

    © 2024 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.

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    Jeff Clabaugh

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  • Video: Where should you buy real estate? – MoneySense

    Video: Where should you buy real estate? – MoneySense

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    News

    RBC’s takeover of HSBC: What will happen to HSBC Canada customers?

    HSBC Canada bank accounts, credit cards, mortgages and investments are moving to RBC. What steps should HSBC customers take…

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    MoneySense Editors

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  • 20 States with The Lowest and Highest Property Taxes in 2024: Who Pays the Least and Who Pays the Most?

    20 States with The Lowest and Highest Property Taxes in 2024: Who Pays the Least and Who Pays the Most?

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    Property taxes are critical to consider when evaluating real estate, especially since they can differ not only between states but also between individual properties. On average, households in the United States pay about $2,400 annually in real estate taxes, but these amounts can fluctuate widely. For investors, the variation in tax rates is a pivotal … Read more

    The post 20 States with The Lowest and Highest Property Taxes in 2024: Who Pays the Least and Who Pays the Most? appeared first on Southwest Journal.

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    Srdjan Ilic

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  • Buying pre-construction: What if your home is worth less than you paid? – MoneySense

    Buying pre-construction: What if your home is worth less than you paid? – MoneySense

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    What are your options if you find yourself in this situation? Let’s look at the intricacies of buying a pre-construction home in Canada, why some buyers are having difficulty closing on their purchases, and steps you can take to avoid losing a large deposit.

    You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*You will be leaving MoneySense. Just close the tab to return.

    How does buying a pre-construction home work in Canada? 

    Generally, pre-construction homes offer several key benefits. For one, the property is brand new. Unlike with a resale home, you can customize a new home right down to the finishes and countertops. And because the home is new, you can expect to spend a lot less on repairs and maintenance.

    New homes also give you more time to save. With resale homes, you typically must pay the deposit and down payment within a 30-to-90-day timespan. With new homes, the deposit can often be spread over several months or years.

    In case you’re new to buying pre-construction homes in Canada or you’d like a refresher, here are some important details to be aware of.

    Payment schedule for pre-construction homes

    Unlike a resale home when you usually pay the deposit within 24 hours of your offer being accepted, with a pre-construction home there’s typically a deposit payment schedule.

    With a pre-construction home, you’re usually expected to have a down payment of between 20% and 25%. This may sound like a lot at first, but the amounts are spread over several months and years. For example, you may be asked to make a deposit of $3,000 at the time of making an offer, followed by 5% within 30 days of the offer, 5% within 90 days, 5% within 180 days and a final 5% at the time of occupancy.

    Oftentimes, the deposit structure is up for negotiation. If the builder’s payment schedule doesn’t work for you, you should try to negotiate one that does.

    Mortgage rules for pre-construction homes

    In Canada, mortgage rules are the same for a new home as a resale home. For example, you’re required to pass the mortgage stress test in both cases. However, a key difference is timing. With a new home, you don’t know what mortgage rates will be when the property closes. Mortgage rates could be the same, or they could be higher or lower. This adds uncertainty. Without knowing what mortgage rates will be, you actually don’t know if you’ll be able to afford the property in the future.

    There’s also the issue of the property value for mortgage lending purposes. Lenders don’t sign off on the mortgage for a pre-construction home until the time of closing. You make an offer without financing, then hope to get financing at the time of closing.

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    Sean Cooper

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  • These AI-Powered Real-Estate Tools are Only $40 Through January 1 | Entrepreneur

    These AI-Powered Real-Estate Tools are Only $40 Through January 1 | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Artificial intelligence has now come to the real estate industry. Now, new users can use accurate data updated with AI to manage their rental property better by making more informed decisions with a lifetime subscription to Mashvisor’s Lite Plan for just $39.99.

    There’s nothing better than accurate, up-to-date real estate market data from across the U.S. for optimizing property analysis and making the most of opportunities, and that’s how Mashvisor can give you an edge in staying ahead of competitors.

    The platform uses a variety of machine learning and AI algorithms to turn raw data from Zillow, MLS, Airbnb.com, the Census Bureau, and Rentometer into actionable analysis. That will allow you to find the most outstanding short-term and best long-term rental markets in the country.

    Then, you’ll want to find the best properties in those markets, and it’ll be easy to filter for the ones you prefer by setting the criteria for budget, location, property size and type, and more.

    There is an Airbnb calculator that can determine the income potential of a property in mere seconds. Mashvisor can take the guesswork out of pricing your Airbnb properties and optimize your rates, making managing short-term rentals a breeze.

    You can search multiple cities and stay current with regulations for short-term rentals in over 500 cities. It’s easy to see why Mashvisor has a rating of “Excellent” on Trustpilot.

    It’s time to take advantage of how AI can help your business.

    Pick one of these plans for a reduced price through January 1 at 11:59 p.m. PT:

    Prices subject to change.

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  • How to divide the assets of an estate between beneficiaries – MoneySense

    How to divide the assets of an estate between beneficiaries – MoneySense

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    First, it bears mentioning that wills typically provide discretion to the trustees to sell, call in or convert into cash any part of an estate in their absolute discretion. The trustees may also have the ability to postpone a sale if they think it’s best. For example, that could be the case if market conditions made it inadvisable to immediately sell a real estate property, business assets or investments.

    An estate trustee typically has the discretion to distribute specific assets to beneficiaries as part of their share of an estate. In other words, if one beneficiary wanted a real estate property, they may elect to receive a smaller share of the rest of the estate, like cash proceeds from bank accounts or from selling other assets. If the real estate value was more than their share of the estate, they may be able to buy the asset from the estate, paying the incremental amount over and above the value of their share.

    It sounds like your parents’ estate has already been distributed to you, though, if your own names are now on these properties and accounts. As such, you should have free rein to do as you wish.

    Should you hold on to assets jointly or sell them?

    In my experience, it’s more common to sell all the assets and distribute the cash that remains (after paying taxes and estate costs) to the beneficiaries. So, your parents’ wishes may not have been so literal as to continue to hold all of their assets jointly.

    Real estate could be distributed to multiple beneficiaries directly rather than sold if the property holds sentimental value, such as a family cottage or farm. This would be less likely with estates like your parents’, which includes five properties, at least a few of which are presumably rental properties.

    There’s no tax advantage to continuing to hold the properties or the accounts, either. For a couple, tax is payable on the second death.

    Should you hold property as joints tenants or tenants in common?

    If you and your siblings want to continue to hold the real estate as investments, Lisa, you could do so jointly. You could own the properties as joint tenants with the right of survivorship, in which case the surviving two siblings would inherit the property upon the first death. This would be uncommon for siblings, though.

    You could alternatively own the properties as joint tenants in common, which would give you control of the asset even upon your death. You could then leave your share to your spouse or children, for example. This is usually preferred to leaving your assets to your siblings, but perhaps none of you have spouses or children. Even if you do not now, you might in the future.

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    Jason Heath, CFP

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