Tag: real estate

How to Make Money on Airbnb

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Opinions expressed by Entrepreneur contributors are their own.

Investing in real estate is good for people who want to make money work for them. And this is because, with real estate investments, you can buy a property and use it to earn more. Now there are many ways to use an acquired property for profit. But perhaps the ones that are gaining more traction are short-term rentals on Airbnb.

But what is Airbnb?

If you’re an avid vacationer, you’ve probably heard of the app that can connect you with people who will let you stay on their property for a period of time. This app, called “Air Bed and Breakfast” or Airbnb, was launched by two industrial designers who moved to San Francisco in 2008.

They couldn’t afford to pay rent for their apartment during this time, so they decided to earn extra by letting people who couldn’t find hotels rent their space temporarily. And long story short, their strategy became a massive hit because it expanded into a vast network of 4 million hosts worldwide. And up until today, their platform continues to create more opportunities for hosts and real estate investors in general.

Related: Airbnb CEO: It Took Us 12 Years to Build, and We Lost Almost Everything in 6 Weeks

Long-term vs. short-term rentals

Real estate investments include property rentals, and there are two main ways to earn from them: Long-Term Rentals and Short-Term Rentals. When I started as a real estate investor in 2012, all my properties were long-term rentals. But in 2017, I transitioned all of them to short-term ones, most of them through Airbnb.

Why? There were a lot of factors that made me decide to go all-in with Airbnb:

1. You make less money on long-term rentals.

Did you know that when done correctly, you can make a $2,000 average monthly profit on Airbnb? Of course, many things must be considered to get to this number. Plus, you can make less or more than this amount every month.

But the point is, with Airbnb short-term rentals, you can determine your price, and no other person has a say. You can’t do this with traditional long-term rentals. With long-term rentals, you can only set a fixed amount and increase your rent by 3% to 5% a year.

2. You are under bigger obligations as the landlord.

There are several things to consider when hosting a long-term rental, and one of those is that your tenants may never deep clean or take care of repairs on your property. The reason is simple: they won’t be staying there forever. Ultimately, the obligation still falls on your shoulders.

Another fact worth mentioning is that you won’t be able to evict your tenants easily. Now, the stipulations change from city to city and state to state, but typically after 30 days of staying, your guests acquire certain rights.

Case in point: In 2020, the government passed an Eviction Moratorium where landlords are not allowed to evict their tenants on the grounds of non-payment. This was, of course, helpful for a lot of tenants all over the country. But now, some landlords are still owed thousands of dollars in back rent, and they may never get the chance to go after them again.

3. With Airbnb short-term rentals, you don’t have to work like an employee.

Short-term rentals are passive in nature, which means that if you have a property, you can still earn even if you’re not around. Add this to Airbnb’s online platform, and your market potential gets wider.

But here’s the thing: you may still be trapped by working around the clock to manage your listing. Thankfully, there is a way to build a system and create a team that operates the business on your behalf. We use this innovative business model with Airbnb, which has since accelerated our cash flow and offered tremendous growth.

4. You don’t have to buy properties to get started.

If you’re familiar with cash flow goals for long-term rentals, you’ve probably heard that the aim is to earn $200 per unit per month. This is all well and good, but if you’re trying to replace a job that gives you $5,000/month, this income won’t give you much. You still need to own at least 25 units to get there.

So what you can do instead is to buy a couple of units, give them a nightly rate, and launch them on the platform to start getting bookings and recover your returns faster.

But what if you don’t own properties and still want to do Airbnb? Well then, all you need to do is apply the Arbitrage Model.

The Arbitrage Model, also called subleasing, is where you rent properties from other landlords, get their permission in writing, and then launch their property as your short-term rental on Airbnb. Yes, this strategy is perfectly legal and lets you start a business without buying properties.

Related: How to Make Money Online: The Basics

Are there other ways to start an Airbnb, even if you don’t own properties?

Yes. Aside from subleasing, there are two more ways to launch an Airbnb business without much capital.

1. Co-hosting

With the co-hosting strategy, you don’t have to buy or own properties because all you have to do is to manage and help hosts manage their listings. This method allows you to learn more about the business and earn.

2. Using O.P.M (Other People’s Money)

A balance transfer is when you transfer the money available on your credit card into your checking account. You can then use this money to sublease a property and start your own Airbnb business without using any of your money.

Airbnb is a great platform for real estate investors. Its innovative business model will allow you to create positive cash flow, get started even if you don’t own properties yet, and enjoy the time, location, and financial freedom that most people only dream about.

Related: How to Start a Business with Only $1,000

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Jorge Contreras

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November 3, 2022
Open House | Inside a LEED Certified Beachfront Estate – Sotheby´s International Realty | Blog

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Scott Carvill – Carvill Sotheby’s International Realty

Located about 2,500 miles from the U.S. mainland, Hawaii’s remote location makes it the ideal escape from the pace and pressures of ordinary life. Each year, tourists clamor at the chance to experience the verdant landscape, vibrant flowers, white-sand beaches, and balmy temperatures in efforts to replenish the mind, body, and soul.

But what if such tranquility was the norm, rather than a deviation? The opportunity to enjoy perpetual respite exists on a property like this premier beachfront estate on O’ahu, the most populous Hawaiian island. Nestled between a lush mountainous backdrop and the ocean, the eight-bedroom, 10-full-bathroom residence is not only a veritable resort, but an eco-friendly, LEED-certified home as well. A tour through the property sets its status as a special slice of paradise for those who are lucky enough to inhabit it.

Mindful Sustainability and Renowned Design

At first glance, the beachfront home is naturally stunning due to impeccable landscaping, a crown-jewel swimming pool, and the exquisitely designed interior. However, its distinction is derived from the intention behind its construction, where careful consideration is given to the impact of living amidst tropical bliss.

Designed by award-winning Gast Architects of San Francisco, the home has been awarded the gold certification from LEED. Evaluated on a points system, LEED-certified buildings are synonymous with sustainability, and their design addresses factors such as carbon footprint, energy consumption, and the management of water resources. On this property, notable environmental features include Voltaic solar energy use for hot water, sustainable heating and cooling systems, and electric-car charging stations.

Smart Features for Effortless Living

Smart home features provide similar innovative aspects alongside the home’s impressive eco-friendly elements. Almost every functional aspect of the home has been elevated, including energy-efficient lighting, a whole-home water filtration system, and climate-controlled pantry and wine storage. Other smart home features, like the swimming pool heating, security, an elevator, and even a backup generator, help automate and alleviate any concerns that could challenge the peace Hawaii’s natural splendor provides.

Acclaimed Beachfront Access

Location is paramount to any property, and the location of this home epitomizes utopia. Privately gated, it’s situated on 125 feet of beachfront with soft, white sand stretching for miles, and turquoise sea views as far as the eye can see. It’s a stunning spot for activities such as strolling, swimming, surfing, stand-up paddleboarding—or simply basking in the island’s sunny embrace. The home’s layout is also perfectly designed for taking in sunset views, so there isn’t a bad seat in the house when the day comes to an end.

Natural Finishes that Reflect the Land

Inside the home—which consists of 11,000 square feet of indoor-outdoor living space—a neutral and calming color scheme reflects the breezy, beach aesthetic found outside. Natural wood finishes are placed throughout as rich complementary accents, such as the ceiling beams, elegant furniture, and expansive kitchen cabinetry. And to add to the property’s authenticity and commitment to sustainability, much of the wood has been salvaged from tropical hardwoods.

Resort-style Living at Every Turn

Stepping onto this beachfront property feels like coming home to a private resort each and every time. Outdoor amenities include a sprawling pool surrounded by palm trees with ample space for lounging, a grotto with a waterfall curtain, and a rejuvenating hot tub after those long days spent in the sun—or after a session at the personal gym, complete with barre.

Offering the unique opportunity to own a gold-certified LEED home, this O’ahu property proposes an outstanding, secluded lifestyle on one of Hawaii’s most desired beaches. And, as Honolulu International Airport is a mere 20-minutes away, it can be an equally relaxing and convenient getaway. For most, island living is used as a trope used to mitigate life’s constant demands—at this property, it’s woven into the foundation.

Interested in discovering luxury lakefront-living on the east coast? Go dockside and explore a house in The Berkshires.

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Melissa Couch

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November 3, 2022
Watch CNBC’s full interview with real estate billionaire Sam Zell on interest rates, inflation and more

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Sam Zell, Equity Group Investments founder and chairman, joins CNBC’s ‘Squawk Box’ to weigh in on the Federal Reserve’s move to combat inflation and breaks down his investment strategies amid high inflation. Zell also breaks down his outlook for the U.S. economy and explains why he believes the U.S. will likely face a recession. “The concept of transitory inflation is pretty awful,” Zell tells CNBC. “We over-flooded the society with capital.”

16:08

Thu, Nov 3 20228:57 AM EDT

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November 3, 2022
Video of the Week: A Modern Masterpiece in Dallas, Texas – Sotheby´s International Realty | Blog

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Featuring curated videos from the most sought-after destinations the world over, discover this week’s Video of the Week.



Dallas, Texas | Melissa Jennings, Briggs Freeman Sotheby’s International Realty

Inspired by the famous Farnsworth house and designed by internationally-recognized Hocker Design Group, this modern masterpiece was constructed with 60 tons of steel, over 40 slabs of Calacatta marble, and is cantilevered with 10,000 square feet under the roof.

Encased by floor-to-ceiling glass windows, the home ‘floats’ over the natural, minimalistic landscape and is intended to feel like art in a park. Custom acoustic ceilings keep sound from bouncing off the glass and concrete.

A striking pool made of absolute black granite in concentric rings features a waterfall edge, creating the aesthetic of a floating square water-feature in the middle of the backyard oasis.

Discover tours of luxury homes for sale around the world on our award-winning YouTube Channel

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Melissa Couch

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November 2, 2022
Home sellers are getting realistic a lot faster now, says Coldwell Banker CEO

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The Exchange

M. Ryan Gorman, Coldwell Banker CEO, joins ‘The Exchange’ to discuss the housing market as sales slow amidst rising mortgage rates.

04:02

5 hours ago

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November 1, 2022
Inside a Contemporary Wine Country Farmhouse – Sotheby´s International Realty | Blog

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Known as the heart of Napa Valley, St. Helena is a picturesque community that is home to some of the region’s pioneering wineries, superlative restaurants, and delightful shops as well as the Auberge du Soleil resort and the Culinary Institute of America at Greystone. For those who choose to transcend the occasional vacation and live here, it offers a balance of quaint vintage homes along with larger luxurious estates—this captivating newly constructed compound among them.

St. Helena, California | , Sotheby’s International Realty – St. Helena Brokerage

The property makes the most of its site and location, featuring a chic four-bedroom 3,979-square-foot home, a serene guesthouse, a refreshing swimming pool and spa, several alfresco living areas, raised garden beds, citrus and olive trees, a freestanding two-car garage, and environmentally sensitive modern landscaping. The main residence presents a rare combination of exceptional contemporary elements—superior-caliber appliances, custom wall treatments, smart LED lighting, and built-in speakers—and a convivial farmhouse ambience conjured by board-and-batten cedar siding and other carefully chosen organic materials. Abundant windows and glass doors fill nearly every room with natural light and allow for the effortless enjoyment of California’s enviable indoor-outdoor lifestyle.

A centerpiece for entertaining, the great room features built-in speakers, a striking fireplace with hand-cut vertical wood paneling, space for a generous dining table, and a retractable wall of glass opening to an open-air lounge with a warming fire pit and, beyond, the pool and lush lawn. Cooks will appreciate the kitchen, which boasts appliances from brands preferred by the chefs at the illustrious French Laundry, temperature-controlled wine storage—de rigueur for the locale—dazzling marble countertops, and an island with additional seating.

On the main level, the peaceful primary suite features in-ceiling Bose speakers, two walk-in closets, a spa-inspired bath with both a soaking tub and a walk-in shower, a private patio, and views of the pool and gardens. Nearby is a guest suite that easily serves as an office. The two additional guest suites are secluded on the upper level, where they are joined by a versatile loft space perfect for a fitness area. Longer-term visitors will appreciate the similarly stylish guesthouse, which sits beside and overlooks the pool. It offers a welcoming living area with a soaring ceiling, an impressively appointed chef’s kitchen, two restful bedroom suites with handsome baths, and its own terrace.

This idyllic gated getaway is a sophisticated oasis on the east side of St. Helena, where it enjoys a feeling of being remote and removed while remaining a short distance from popular attractions. The setting is as quintessentially Northern California as its architecture and ambience, and with thoughtfully selected amenities and grounds that echo a boutique resort, it constitutes a consummately private, ultimately inviting destination in its own right.

Discover luxury homes for sale and rent around the world on sothebysrealty.com

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Melissa Couch

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November 1, 2022

20 dividend stocks that may be safest if the Federal Reserve causes a recession

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Investors cheered when a report last week showed the economy expanded in the third quarter after back-to-back contractions.

But it’s too early to get excited, because the Federal Reserve hasn’t given any sign yet that it is about to stop raising interest rates at the fastest pace in decades.

Below is a list of dividend stocks that have had low price volatility over the past 12 months, culled from three large exchange traded funds that screen for high yields and quality in different ways.

In a year when the S&P 500
SPX,
-0.40%
is down 18%, the three ETFs have widely outperformed, with the best of the group falling only 1%.

Read: GDP looked great for the U.S. economy, but it really wasn’t

That said, last week was a very good one for U.S. stocks, with the S&P 500 returning 4% and the Dow Jones Industrial Average
DJIA,
-0.32%
having its best October ever.

This week, investors’ eyes turn back to the Federal Reserve. Following a two-day policy meeting, the Federal Open Market Committee is expected to make its fourth consecutive increase of 0.75% to the federal funds rate on Wednesday.

The inverted yield curve, with yields on two-year U.S. Treasury notes
TMUBMUSD02Y,
4.540%
exceeding yields on 10-year notes
TMUBMUSD10Y,
4.064%,
indicates investors in the bond market expect a recession. Meanwhile, this has been a difficult earnings season for many companies and analysts have reacted by lowering their earnings estimates.

The weighted rolling consensus 12-month earning estimate for the S&P 500, based on estimates of analysts polled by FactSet, has declined 2% over the past month to $230.60. In a healthy economy, investors expect this number to rise every quarter, at least slightly.

Low-volatility stocks are working in 2022

Take a look at this chart, showing year-to-date total returns for the three ETFs against the S&P 500 through October:

FactSet

The three dividend-stock ETFs take different approaches:

The $40.6 billion Schwab U.S. Dividend Equity ETF
SCHD,
+0.15%
tracks the Dow Jones U.S. Dividend 100 Indexed quarterly. This approach incorporates 10-year screens for cash flow, debt, return on equity and dividend growth for quality and safety. It excludes real estate investment trusts (REITs). The ETF’s 30-day SEC yield was 3.79% as of Sept. 30.
The iShares Select Dividend ETF
DVY,
+0.45%
has $21.7 billion in assets. It tracks the Dow Jones U.S. Select Dividend Index, which is weighted by dividend yield and “skews toward smaller firms paying consistent dividends,” according to FactSet. It holds about 100 stocks, includes REITs and looks back five years for dividend growth and payout ratios. The ETF’s 30-day yield was 4.07% as of Sept. 30.
The SPDR Portfolio S&P 500 High Dividend ETF
SPYD,
+0.60%
has $7.8 billion in assets and holds 80 stocks, taking an equal-weighted approach to investing in the top-yielding stocks among the S&P 500. It’s 30-day yield was 4.07% as of Sept. 30.

All three ETFs have fared well this year relative to the S&P 500. The funds’ beta — a measure of price volatility against that of the S&P 500 (in this case) — have ranged this year from 0.75 to 0.76, according to FactSet. A beta of 1 would indicate volatility matching that of the index, while a beta above 1 would indicate higher volatility.

Now look at this five-year total return chart showing the three ETFs against the S&P 500 over the past five years:

The Schwab U.S. Dividend Equity ETF ranks highest for five-year total return with dividends reinvested — it is the only one of the three to beat the index for this period.

Screening for the least volatile dividend stocks

Together, the three ETFs hold 194 stocks. Here are the 20 with the lowest 12-month beta. The list is sorted by beta, ascending, and dividend yields range from 2.45% to 8.13%:

Company	Ticker	12-month beta	Dividend yield	2022 total return
Newmont Corp.	NEM, -0.78%	0.17	5.20%	-30%
Verizon Communications Inc.	VZ, -0.07%	0.22	6.98%	-24%
General Mills Inc.	GIS, -1.47%	0.27	2.65%	25%
Kellogg Co.	K, -0.93%	0.27	3.07%	22%
Merck & Co. Inc.	MRK, -1.73%	0.29	2.73%	35%
Kraft Heinz Co.	KHC, -0.56%	0.35	4.16%	11%
City Holding Co.	CHCO, -1.45%	0.38	2.58%	27%
CVB Financial Corp.	CVBF, -1.24%	0.38	2.79%	37%
First Horizon Corp.	FHN, -0.18%	0.39	2.45%	53%
Avista Corp.	AVA, -7.82%	0.41	4.29%	0%
NorthWestern Corp.	NWE, -0.21%	0.42	4.77%	-4%
Altria Group Inc	MO, -0.18%	0.43	8.13%	4%
Northwest Bancshares Inc.	NWBI, +0.10%	0.45	5.31%	11%
AT&T Inc.	T, +0.63%	0.47	6.09%	5%
Flowers Foods Inc.	FLO, -0.44%	0.48	3.07%	7%
Mercury General Corp.	MCY, +0.07%	0.48	4.38%	-43%
Conagra Brands Inc.	CAG, -0.82%	0.48	3.60%	10%
Amgen Inc.	AMGN, +0.41%	0.49	2.87%	23%
Safety Insurance Group Inc.	SAFT, -1.70%	0.49	4.14%	5%
Tyson Foods Inc. Class A	TSN, -0.40%	0.50	2.69%	-20%
Source: FactSet

Any list of stocks will have its dogs, but 16 of these 20 have outperformed the S&P 500 so far in 2022, and 14 have had positive total returns.

You can click on the tickers for more about each company. Click here for Tomi Kilgore’s detailed guide to the wealth of information available free on the MarketWatch quote page.

Don’t miss: Municipal bond yields are attractive now — here’s how to figure out if they are right for you

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November 1, 2022

Significant Sales: September 2022 Highlights – Sotheby´s International Realty | Blog

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From a US$28M sale in Newport Coast, California to a AUD$8M sale in Hamilton Island, Australia, here are five sales represented by the Sotheby’s International Realty® global network in September.

Newport Coast, California

CAIN Group | Pacific Sotheby’s International Realty, US$28,825,000

Vittoriosa, Malta

Josabeth Cassar | Malta Sotheby’s International Realty, EUR€5,300,000

Hamilton Island, Australia

Wayne Singleton | Queensland Sotheby’s International Realty, AUD$8,000,000

Grace Bay, Turks & Caicos Islands

Nina Siegenthaler | Turks & Caicos Sotheby’s International Realty, US$6,500,000

Wellington, Florida

Thomas Baldwin & David Welles | Sotheby’s International Realty – Wellington Brokerage, US$12,000,000

Discover previous editions of Significant Sales on the blog

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Melissa Couch

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October 31, 2022
Billionaire Wu Yajun Steps Down As Longfor Chair Amid Sector Crisis

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Billionaire Wu Yajun has stepped down as Longfor chairman. (Photo by May Tse/South China Morning Post via Getty Images)

South China Morning Post via Getty Images

Wu Yajun, the billionaire cofounder of real estate developer Longfor Properties, has stepped down as chair of the company amid an industry-wide crisis that is showing little sign of abating.

Shares of the Hong Kong-listed Longfor tumbled as much as 38% on Monday after the 58-year-old tycoon announced her decision late Friday night. Due to age and health reasons, Wu has resigned as executive director and chairperson of the board, but will continue to advise the company on its strategic development, Longfor wrote in a filing to the Hong Kong Stock Exchange.

She has handed the reins over to 40-year-old Chen Xuping, who has been with the company since 2008 and first worked as a construction manager before being promoted through the ranks. But the mogul, whose wealth plunged $1 billion to $6.1 billion in a single day, isn’t giving investors much to cheer.

“Longfor is experiencing management changes when the industry is undergoing a lot of difficulties,” says Kenny Ng, a Hong Kong-based securities strategist at Everbright Securities. “Investors are worried about how it would cope with the challenges.”

The company, for its part, said in a separate Friday filing that the role changes were results of its corporate governance strategy and focuses on nurturing senior managers through “culture and mechanism.” It disclosed in the same filing that contracted sales stood at 59.8 billion yuan ($8.2 billion) in the third quarter of this year, representing a mere 0.8% growth from the same period a year ago.

China’s real estate industry, meanwhile, is still mired in a deep crisis. Home prices have sank for a 13^th straight month in September, as Beijing’s campaign to reduce financial leverage causes a wave of defaults, and buyer confidence remains weak in a slumping economy.

Longfor is considered to be on stronger footing than its debt-laden peers such as the now defaulted China Evergrande Group, thanks to Wu’s emphasis on financial discipline and relative prudence when it comes to borrowing. The company said in the aforementioned filing that it had no debt due this year, and its financial position “remains healthy and stable.” It was allowed in August to sell $219 million worth of yuan-denominated bonds that are guaranteed by the state, as Beijing sought to boost market sentiment towards healthier developers.

Still, the company’s shares have lost 70% of value year to date, underscoring investors’ pessimism toward the real estate sector. To prevent the current crisis from spiraling out of control, officials have also announced a series of easing policies including tax exemptions and lowering mortgage rates. But Fitch Ratings said in an October 24 report that the moves are “selective and modest in scale,” and unlikely to boost housing demand.

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Yue Wang, Senior Contributor

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October 31, 2022
Fabulous Foyers: 4 Homes with Eye-Catching Entrances – Sotheby´s International Realty | Blog

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From East Coast to West, these distinctive foyers welcome visitors and introduce them to their homes’ unique character and style.

Fifth Avenue Sophistication

| Sotheby’s International Realty – East Side Manhattan Brokerage

Comprising two elegant floors overlooking Central Park, this stylish residence was recently renovated and is in impeccable condition. Its nearly 5,000-square-foot floor plan offers five bedrooms, formal living and dining rooms, a chef’s kitchen, a media room, and a library—all introduced by a foyer modeled after a 16th-century Venetian palazzo. It is a perfect preface to the home’s distinctive design with its striking Carrara marble floors, custom chandelier by Lindsey Adelman, Venetian plaster walls, and gracefully curving staircase.

Distinguished Greenwich Retreat

| Sotheby’s International Realty – Greenwich Brokerage

At the end of a long winding driveway, this august estate enjoys the peaceful privacy of parklike grounds with a pool and adjoining conservation land. A grand double-height foyer with a regal light fixture, stately columns, and a sweeping stairway is a fittingly elegant introduction to a floor plan that includes a billiards room, a solarium, a wood-paneled library, a kitchen and breakfast room, a butler’s pantry, a family room, a screened-in porch, seven bedrooms, a playroom and gym, and a recreation room.

Mediterranean Style in Seminole Landing

Frances Peter | Sotheby’s International Realty – Palm Beach Brokerage

This Mediterranean-inspired residence in the exclusive community of Seminole Landing spans some 12,470 square feet and enjoys picturesque views. Highlights include six bedrooms, a billiards room and bar, a theater, a wine room, an eat-in kitchen with a family room, a four-car garage, a screened-in patio with a built-in grill, a refreshing pool and spa, and a private dock with a lift. The grandeur begins in a foyer with inlaid stone flooring, striking arched double doors, and a graceful stairway with an ornate iron railing.

Chic Cow Hollow Oasis

| Sotheby’s International Realty – San Francisco Brokerage

On a desirable block in Cow Hollow, this six-bedroom Edwardian home is replete with lovely architectural details, fine finishes, natural light, and views of the Golden Gate Bridge, the Palace of Fine Arts, Alcatraz, and the bay. The versatile floor plan begins with a spacious foyer featuring hardwood floors and a striking ceiling; it flows effortlessly to the formal living and dining spaces and offers access to the upper-level private quarters via a classical staircase. A colorful garden and a two-car garage are welcome extras.

Discover luxury homes for sale and rent around the world on sothebysrealty.com

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Melissa Couch

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October 29, 2022
Report: Rents Are Starting to Fall Across the U.S.
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- Some renters are already signing cheaper leases across the country, and they could drop further in 2023.
- As demand slows and the number of available apartments ramps up, prices are going down.
- Falling rents could help ease inflation and make a severe recession less likely.
This story originally appeared on Business Insider.

Getty
A New York City apartment building

If your rent spiked this year, as it did for many Americans, 2023 could give you reason to celebrate.

Tom Lawler, a former Fannie Mae economist, wrote in a recent real estate newsletter that he expects rents across the country to not just slow down, but to experience a rare “actual decline” in real dollar amounts next year. And those declines are likely to spread and accelerate in 2023.

In fact, rents across the US have already started to decline in some markets. Data shows that in the third quarter of 2022, national asking rents declined by 0.4%, reflecting a shift from just a year ago when demand drove prices to historical highs.

Lawler’s forecast hinges on the fact that US builders are still ramping up construction despite there being fewer renters who want — and can afford — new rental units. It’s a rare storyline of excess supply in a housing market that has been weighed down by shortages for years.

Financial and economic fear among Americans are also driving the declines, says Anthemos Georgiades, CEO of Zumper, an online rental database.

“We saw historic levels of migration throughout the pandemic, as people switched to working from home and re-imagined their living situations,” he said in a statement. “Now — with a turbulent, unpredictable economy causing fear of recession, migrations are slowing, occupancy rates are falling and rent prices are following suit.”

These predictions are already materializing in the rental market. According to RentCafe, although multifamily housing construction hit a 50-year high, apartment demand is evaporating. Data from real estate database RealPage shows that in the third quarter of the year — a typically robust leasing period — rental demand turned “moderately negative” as leasing traffic plummeted. October’s decline marked the first time in the company’s tracking history that demand turned negative during the third quarter.

The decline in rent prices might not only be a lifesaver for Americans’ bank accounts, but for the entire US economy as the Federal Reserve continues raising interest rates in an effort to cool prices. Falling rents could go a long way to convincing the Fed that inflation is under control and helping the US avoid a significant downturn that could include mass layoffs and plunging home values.

“Right now, it’s a race against the Fed,” former Federal Reserve economist Claudia Sahm told Insider. “The faster those things show up in consumer price inflation, the faster the inflation steps down, the sooner the Fed will back off.”

The economic downturn is already translating to cheaper rents for Americans

On a personal level, American renters will rejoice in lower rents following a record 17.6% increase in 2021 and additional hikes earlier this year.

In a harbinger of what could happen across the US next year, many big cities are already seeing declines. According to Zumper, more than half of the 100 US cities measured in its monthly national rent report posted month-over-month price declines in October. Falling 0.8% and 0.7% from September, the national median rent for a one and two-bedroom unit now stands at $1,491 and $1,832, respectively.

Cities that experienced rapid rent growth in recent years, including San Jose, Tulsa, and Seattle, all saw their rents fall compared to the prior month. Even New York City, which has reported booming rents in recent months, saw the median price for both one and two-bedroom apartments fall over 2%.

And on a national level, the quicker price growth slows, the sooner the Fed is likely to scale back the pace of its rate hikes that are weighing on the economy. Given that housing accounts for roughly a third of the Consumer Price Index, the Bureau of Labor Statistics’ monthly inflation report, falling rents could go a long way to convincing the Fed inflation is under control.

While most economists expect a recession in 2023, the severity of the downturn may depend on just how quickly prices ease.

Lawler’s analysis, as well as the recent rental market data, both suggest things are trending in the right direction.
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Alcynna Lloyd and Jacob Zinkula

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October 28, 2022
How Shared Equity Can Help Fight the Homeownership Crisis
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Opinions expressed by Entrepreneur contributors are their own.
Homeownership, for many people, symbolizes the epitome of success that comes from years of hard work and dedication. Homeownership is an aspirational status even amongst those who would rationalize it isn’t for them when believing it is beyond their grasp.

When only the most “successful” individuals own their homes, we create a gap of disparity within the overall population. As many of us have seen in the last few years, this gap has grown dramatically and created an ever-widening moat around the fortress of affordability, deterring many families from the prospect of homeownership. It would be a rare individual who wouldn’t want to own a mortgage-free home and never have to make a mortgage payment or monthly rent payment again.

Related: How to Save the Dying American Dream of Homeownership

How do we as a society overcome this barrier to ownership?

When looking for ways to introduce accessible and effective homeownership models, the shared equity housing model (SEH) stands out as a solution. Shared equity housing works because it accelerates the saving of a down payment while still offering affordable monthly payments. Through the SEH model, home buyers can plan a realistic route to ownership that allows them to believe they are contributing to their future investment. Even if the initial investment is a relatively small amount, it still contributes to the overall equity of the individual.

The three key components of the shared equity approach are: 1) an affordable monthly savings program, 2) a share in the growth in the equity in the home, which creates pride of ownership that leads to 3) the home being well looked after. Having the home cared for like an owner would reduce annual operating costs for the housing fund by more than the cost of the equity share given up.

How does shared equity housing work?

There are several factors that make shared equity housing a financially and socially attractive concept. A few of these concepts are as follows:
- The home buyer starts with a small deposit or down payment, ideally 1%.
- The home buyer does not need to qualify for a mortgage upfront.
- The buyer is matched with a home where the monthly payment is comfortable for their family’s income level.
- The buyer shares in the equity growth in the home from the price appreciation.
- The exact % share of the home equity growth is dependent on the deposit size. 20% is a good range because it accelerates the home buyer towards a 20% down payment.
- The home buyer keeps their share of the equity even if they don’t end up buying the home.
These factors are all significant in the process, but the share of equity is crucial when it comes to implementing a change in the industry. Most rent-to-own programs that currently exist do not secure the home buyer’s equity and instead require the home buyer to either close on the home purchase or forfeit their equity.

Related: Accessibility (or Lack Thereof) in Today’s Housing Market

How can shared equity housing help buyers?

Due to the ongoing housing crisis, many families are struggling to even consider the prospect of homeownership. Rather than rely on the adaptive measures we see in the market today, shared equity housing could help alleviate the stresses facing homeowners by providing alternative investment opportunities. SEH models offer prospective buyers the realistic potential to achieve a position of ownership position and make strategic steps toward a more traditional purchase.

SEH allows smaller, more achievable investments that contribute to a healthier society, market and individuals, with buyers eventually building reputable equity. As a result of SEH models, research has found that the number of foreclosed properties drops drastically in markets where SEH is introduced. Shared equity housing benefits home buyers by creating an environment that increases care for the investment. When multiple individuals are invested in the well-being of one unit or housing community, we see increased pride and commitment to savings and even going above and beyond by adding even more value to the home through improvements.

Not only does this benefit the buyers, but it builds a stronger community as a result. For buyers, the shared equity housing model is a beneficial solution that opens the door to opportunity in an otherwise exclusive market.

Key takeaways:
- Shared equity housing accelerates the ability to buy property by removing barriers.
- The shared equity housing model creates the potential for buyers who are unable to contribute a substantial down payment.
- The shared equity housing model is affordable and allows incremental investment opportunities.
- Shared equity housing implies shared interest in a home and increases stewardship.
- The model promotes community through a shared interest in one investment.
- Pursuing SEH would allow the reduction of annual operating costs for the housing fund.
- There is less instability in the housing market with a shared equity investment than when compared to a high loan-to-value mortgage financing approach.
Related: What Is a Housing Market Recession?

Many individuals are skeptical of a large institutional system’s ability to change, but it’s been done before. Developers and real estate professionals need to begin examining the future of the industry and the various ways they can create a more sustainable, families-focused housing market. Shared equity housing is one financial solution to an accessible future in housing for all, and it’s time we begin taking those next steps on both an individual and national scale.
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Adam Gant

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October 28, 2022
Luxury Real Estate Headlines: Fourth Week in October 2022 – Sotheby´s International Realty | Blog

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About Sotheby’s International Realty Affiliates LLC

Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.

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Melissa Couch

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October 28, 2022
Pending home sales plunge 31% versus one year ago amid rising mortgage rates

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CNBC's Diana Olick reports on plunging pending home sales data.

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October 28, 2022
October consumer sentiment index meets expectations

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CNBC’s Rick Santelli joins ‘Squawk on the Street’ to report on October’s consumer sentiment print reaching its best levels since February, as well as the massive miss for September pending home sales.

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October 28, 2022
Pending home sales fell 10% in September, much worse than expected

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Pending home sales, a measure of signed contracts on existing homes, dropped a much worse-than-expected 10.2% in September from August, according to the National Association of Realtors.

Economists had predicted a 4% decline. Sales were down 31% year over year.

This marks the lowest level on the pending sales index since June 2010, excluding April 2020, when the Covid pandemic was in its early days.

Realtors point squarely to sharply higher mortgage rates, which had sat at record lows for the first two years of the pandemic. The average rate on the popular 30-year fixed mortgage was right around 3% at the start of this year, but then rose swiftly, crossing 6% in June, according to Mortgage News Daily. It pulled back a bit in July and August, but then began rising again, crossing 7% in September, when these contracts were signed.

A Coldwell Banker “Under Contract” sign stands outside a property in Washington, D.C.

Andrew Harrer | Bloomberg | Getty Images

“Persistent inflation has proven quite harmful to the housing market,” said NAR Chief Economist Lawrence Yun. “The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”

Mortgage demand and new listings are dropping, too, because homeowners are unwilling to give up their record-low interest rates to trade up to a much higher one. For potential buyers, the increase in rates means the monthly payment on a median-priced home, with a 20% down payment, is now close to $1,000 higher than it was in January.

“With wages falling behind on account of inflation, and rates rising, buyers’ purchasing power has been reduced by over $100,000,” said George Ratiu, senior economist at Realtor.com.

“As we look to the remainder of the year, we can expect interest rates to continue their upward trajectory. The Federal Reserve’s monetary tightening has not yet made a dent in inflation, which means that the bank is expected to hike its policy rate further,” he added.

While red-hot home prices are starting to cool and even drop in some local markets, the decline is not enough to make up for the increase in interest rates. Home prices are up more than 40% since the start of the pandemic, fueled largely by those rock-bottom interest rates early on.

Regionally, pending home sales dropped 16.2% month to month in the Northeast and were down 30.1% year over year. In the Midwest, sales were down 8.8% for the month and 26.7% from one year ago.

In the South, sales retreated 8.1% for the month and were down 30.0% year over year, and in the West, the most expensive region in the nation, sales fell 11.7% for the month and were down 38.7% from the year before.

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October 28, 2022
A key US inflation gauge stayed at a high 6.2% in September

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WASHINGTON — A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.

Friday’s report from the Commerce Department showed that prices rose 6.2% in September from 12 months earlier, the same year-over-year rate as in August.

Excluding volatile food and energy costs, so-called core prices rose 5.1% last month from a year earlier. That’s also faster than the 4.9% annual increase in August, though below a four-decade high of 5.4% reached in February.

The report also showed that consumers spent more last month, even after adjusting for inflation, a sign of Americans’ willingness to keep spending in the face of high prices. Consumer spending increased 0.6% from August to September, or 0.3% after accounting for price increases.

The latest figures come just as Americans have begun voting in midterm elections in which Democrats’ control of Congress is at stake and inflation has shot to the top of voters’ concerns. Republicans have heaped blame on President Joe Biden and congressional Democrats for the skyrocketing prices that have buffeted households across the country.

The persistence of high inflation, near the worst in four decades, has intensified pressure on the Federal Reserve to keep aggressively raising its key short-term interest rate to try to wrestle rising prices under control. Last month, the Fed raised its key rate by a substantial three-quarters of a point for a third straight time, and next week it’s expected to do so for a fourth time.

The central bank’s latest rate hikes far exceed the quarter-point increases that it typically used in the past when it sought to tighten credit to fight inflation. But after being caught off guard beginning late last year, when prices accelerated far more than the Fed’s policymakers had anticipated, the officials have been raising their benchmark rate at the fastest pace in four decades. In doing so, they are raising the risk of a recession — something that many economists expect to occur sometime next year as a result.

The Fed’s hikes have led to much higher loan rates for businesses and consumers, particularly for mortgages. The average 30-year fixed mortgage rate surged past 7% this week, according to Freddie Mac, the highest level in two decades and more than twice what it was a year ago.

The rapid run-up in borrowing costs has crushed the housing market. Sales of existing homes have dropped for eight straight months and are down nearly 25% in the past year. New-home sales and construction are also falling.

A weaker housing market has slowed the economy, as fewer home purchases also drag down sales of furniture, appliances, and home improvement gear.

Home prices, which rocketed during the pandemic, have started to fall as a result. The S&P Case-Shiller home price index fell from July to August for a second straight month, according to the latest data available,

But those declines have yet to show up in the government’s measures of housing costs, which include rents, which are still rising for many people as they renew their leases. It could take until late spring or summer before falling home prices work their way into the government’s inflation indexes. That delay could keep official measures of inflation from falling much over the next few months.

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October 28, 2022
Inked: Recent LI real estate deals | Long Island Business News

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1615 Ninth Ave., Bohemia

BBM Productions NY LLC leased 1,500 square feet of office space at 1615 Ninth Ave. in Bohemia. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, Gelsomina LLC, in the lease transaction.

1488 Northern Blvd., Manhasset

Steinway & Sons leased a 2,754-square-foot retail space at 1488 Northern Blvd. in Manhasset. The piano maker’s new Long Island showroom is expected to open early next year. Robert Kuppersmith and Connor Sullivan of Cushman & Wakefield represented the tenant, while Stuart Bayer of Douglas Elliman Real Estate represented the landlord, Sol G. Atlas Realty, in the lease transaction.

100 Jericho Quadrangle, Jericho

Manhattan-based law firm Meister Seelig & Fein leased 4,000 square feet of office space at 100 Jericho Quadrangle in Jericho. The law firm will officially open its first Long Island location next month. Brian Lee of Newmark represented MSF, while Andy Newman served as the in-house representative for landlord We’re Group in the Jericho lease transaction.

104 Bellerose Ave., East Northport

The owners of Tank Me Later, a supplier of custom aquariums and ponds, purchased a 6,300-square-foot office building on .54 acres at 104 Bellerose Ave. in East Northport for $987,500. The business is relocating from Amityville. Jason Miller and Jeffrey Schwartzberg of Premier Commercial Real Estate represented the buyers, as well as the seller, 104 Bellerose Ave LLC, in the sales transaction.

676 Motor Parkway, Hauppauge

Dan Flynn, a Long Island-based real estate investor, purchased a 5,300-square-foot retail building on .66 acres at 676 Motor Parkway in Hauppauge for $2.35 million. The five-store strip center is fully occupied and the sale price equates to a 5.9 percent cap rate. The buyer was self-represented, while Stephen Preuss, Kevin Schmitz, Kevin Louie and Andreas Efthymiou of RIPCO Real Estate represented the seller, Hildreth Real Estate Advisors, in the sales transaction.

365 Bay Shore Road, Deer Park

Empire Automotive Group leased a 63,677-square-foot industrial building on 6 acres at 365 Bay Shore Road in Deer Park. Empire plans to create a service center at the Deer Park location and utilize the property as a parts warehouse. Brian Cleva of Cleva Philips represented the tenant, while Kyle Burkhardt, Joshua Cohen and Patrick Ciancimino of Cushman & Wakefield represented the landlord, Criterion Group LLC, in the lease transaction.

909 Broadhollow Road, Farmingdale

Noodles & Company leased a 2,500-square-foot retail space at 909 Broadhollow Road in the Republic Plaza shopping center in Farmingdale, which was formerly occupied by Blaze Pizza. Brian Schuster and Tom Rettaliata of RIPCO Real Estate represented Noodles & Co., while Robert Delavale served as the in-house representative for landlord Breslin Organization in the Republic Plaza lease transaction.

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David Winzelberg

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October 27, 2022
To Deliver Seamless Hospitality, Office Owners Go Directly To The Source

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Years before the pandemic upended established workplace dynamics, leading property managers predicted the emergence of experiential office. Inspired by hospitality, it was a vision of tenant-first office management aimed at fostering meaningful relationships and rich experiences. The post-pandemic prevalence for hybrid work has quickly made that vision a reality. While some of the details have changed—like a greater emphasis on health and wellness and inclusion—today, the office has become a center for socialization and collaboration, just as expected.

JLL’s Future of Work 2022 survey illustrates just how much the concept has evolved. More than three-quarters of companies are focused on investing in quality office spaces, and 73% of companies are adopting collaborative open concepts and eschewing dedicated desks. But experiential office is more than a high-quality design. The office is becoming a place to improve employee physical and mental health, support flexible working patterns and drive social value and sustainability initiatives.

To deliver the space-as-a-service concept, property managers have had to develop new skills beyond operational and financial excellence. More and more, property managers are turning to hospitality professionals who are adept at operating at the intersection of facilities management, services, and customer experience. It’s this expertise that will help property managers curate the experiential office environment that today’s tenants demand.

Flight to quality drives leasing decisions

The demand for purposeful office space is evident by the most recent tenant leasing activity. While office leasing has been turbulent since the start of the pandemic, an effect of the widespread adoption of remote work and corporate workplace re-strategizing, new high-quality and amenitized properties have generated nearly 87 million square feet in occupancy gains, the vast majority of office leasing volume. Office product built after 2015 has a 16.5% vacancy rate, compared to the 19% vacancy rate for the broader market, once again showing a preference for newer properties.

This leasing trend has held through the third quarter. Trophy office assets with amenities are retaining value, while properties without them are suffering. Some property management teams are tightening budgets and looking for places to trim back cost expenditures to cope, but proactive office owners are embracing the hotelization of real estate by investing in property improvements and onsite services and installing client-facing managers to cultivate a rich experience.

A formal education

Over the last two decades, hospitality has evolved into a sophisticated industry. Today, most universities offer a degree in hospitality management, and the average hotelier is entering the industry armed with a specialized degree. But the benefits aren’t exclusive to hotels. Hospitality training and education are applicable to a wide range of commercial real estate assets. Along with offices, museums, hospitals, airlines, non-profits, and even funeral homes are recruiting hospitality professionals to drive better customer experiences. Many hospitality programs are adding office management and other real estate courses to the standard curriculum.

I recently sat down with Edwin Torres, department chair of international hospitality and service innovation at The Rochester Institute of Technology’s Saunders College of Business, which just so happens to be my alma mater. The hospitality program has added courses in operational management, site selection, project management, and franchising in recent years to deliver well-rounded students that are equipped to handle opportunities in a wide selection of asset classes. For office assets, hospitality is fostering enthusiasm and creating a place where people feel compelled to go. “Those skills are still going to be important, and those are the skills that we can further advance in our program,” explains Torres.

There is tremendous demand for diversified hospitality programs, and students are recognizing the potential for career advancement with a hospitality degree. In particular, master’s degree programs in hospitality management have seen a surge in enrollment, and Torres expects these programs to continue to grow in popularity as they become more multidisciplinary. He currently has his sights set on expanding even further to include training in specialized areas like asset management, events and entertainment, data and analytics. These courses will complement the current offerings which provide future managers skills in hotel management, beverage management, and the design of customer experiences.

A new generation of property managers

As the office market evolves so will the role of property managers. Hospitality is quickly becoming a key component of the job, which will entail everything from managing asset budgets, overseeing costs and hiring and managing vendors to responding to tenant needs, planning events and managing services, like onsite food and beverage options.

While there is no formal property management degree, hospitality programs are filling that void. Torres describes hospitality management as an entrepreneurial industry where managers learn to oversee multiple businesses under one roof, all while driving a cohesive and positive experience for guests. Sound familiar? Office owners are finding increasing success tapping into this market as a resource for the next generation of property managers.

As such, future property managers will have to strike this balance between providing superior client services and maintaining the operational and financial health of the property, but in some ways, this has always been the role of quality property management—to serve as the liaison between ownership and occupants and fulfill the needs of both. By incorporating hospitality standards, property managers are simply executing a longstanding mission: to take good care of the property and its occupants.

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Mark Zettl, Contributor

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October 27, 2022
5 Homes That Channel NFT Art – Sotheby´s International Realty | Blog

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Stylish, innovative, disruptive—while this is how one might describe the allure of non-fungible tokens (NFTs), they’re qualities that are also in high-demand for luxury property buyers.

NFTs are digital assets, often in the form of art, with their uniqueness as the driving force behind their value. Most exceptional luxury homes are also coveted for their singularity, whether due to a rare location, unparalleled architecture, or distinctive design. For truly one-of-a-kind properties that reflect the essence of NFT art, set your sights on these five homes.

Seductive Seventies Silhouettes

Joseph Cilic and Bruno Abisror – Sotheby’s International Realty – Pacific Palisades Brokerage

One element of NFT art that makes it compelling is its ability to modernize an established medium, at once honoring and subverting it. What you’ve become accustomed to viewing countless of times receives new life when presented in a pixelated form.

Such anachronistic reimagining occurs in this four-bedroom, four full-bathroom Beverly Hills Trousdale Estate, completed in 1971 by modernist architect Raul F. Garduno. And though it features classic seventies architectural elements, like a low-rise silhouette, step-down living room, and elegantly curved swimming pool, it’s a sought-after style that can be hard to come by in such pristine condition. In fact, it’s so desirable that notable gallery Casa Perfect used the home as a showroom. Breathtaking views of the city and canyon make it easy to see why this property is the pre-eminent homage to a former generation.

Modern Landmark Architecture

Jane Zhang and Christian Vermast – Sotheby’s International Realty Canada

While some NFT artists pack a flurry of color into the frame, others choose to be highly intentional with their pixel placement. The resulting image is often a touch crude, with sharp lines and unrefined edges—daring you to find beauty in its almost confrontational facade.

Such Brutalist beauty is evident in this dazzling, 26,000-square-foot home in Toronto. Designed by the same architect behind the elegantly imposing Toronto City Hall, the home has a remarkable cascading exterior design of three-and-a-half levels, is engineered from concrete embedded with quartz, and boasts thoughtful features, including a soaring atrium, zen garden, and indoor and outdoor swimming pools. With hand-painted murals and vast walls perfect for showcasing masterpieces, this home is an art collector’s dream.

Clifftop Villa with Sea Views

Dário Neto – Portugal Sotheby’s International Realty

There’s no established formula to creating masterpieces in such a nascent form as NFT art. As such, a collection of these digital works would offer a broad palette of visual experiences, from the refined to the basic, from photorealistic recreations to simplistic bursts of color.

This diversity is reflected in this five-bedroom Portuguese villa overlooking the Algarve landscape and ocean. The home is artfully designed with large windows so each room can soak in the sun and incredible panoramic sea views from the property’s cliff-top vantage. Indoors, intricately tiled bathrooms garner a pixelated effect, and various pops of color and art installations aim to delight throughout the property.

Sleek and Sophisticated Penthouse

Francesca A. M. – LUXHABITAT Sotheby’s International Realty

With NFT art, there are burgeoning possibilities to view works in immersive experiences such as the metaverse. A near future can be imagined where one could customize an entire virtual realm with the various pieces they acquired. In that realm, their existence would be enveloped by art.

This extraordinary four-bedroom duplex penthouse in Dubai makes it feel as though you’re living inside a piece of art at all times, rather than just admiring it. Angular surfaces, crosscut marble walls, and accent lighting add dimension to the polished yet opulent space, providing an all-encompassing feeling of artistry.

Organic Desert Jewel

Dan Wolski and Mike Doyle – Russ Lyon Sotheby’s International Realty

Upon creation, an NFT is stamped by its creator. Unmodifiable and unalterable, the art is perpetually preserved in its intended state, guaranteeing authenticity and longevity.

In Scottsdale, this astounding home appears to be an extension of the Sonoran Desert landscape that still features rocks from 1,200 million years ago. Earth, steel, glass, stone—these organic elements come together to form a powerful structure where indoor-outdoor living is blended seamlessly. With floor-to-ceiling windows, one can comfortably gaze upon the spectacular sunsets similarly enjoyed in the centuries prior.

NFT artwork is valuable because it is irreplaceable, totally unique, and coveted by many. As these five spectacular homes demonstrate, these same qualities are precisely what can make a property desirable. And it won’t be long before real estate and NFTs intersect more directly, such as this innovative manor in Miami Shores that comes with a virtual replica NFT. This latest digital technology is a perfect match for luxury homes—the pinnacles of art and design.

NTF art is expanding boundaries—and so do these three homes. Make sure to check out the properties that break tradition in their own right.

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Melissa Couch

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October 27, 2022