Metlife Inc. one of the largest insurance providers in the United States, signed a 12-year lease for 335,000 square feet in the MetLife office building at 200 Park Ave. in New York City. MetLife currently occupies 110,000 square feet in the building, and is leasing space currently occupied by Barclays Capital encompassing the third through fifth floors there. MetLife is in the process of consolidating its employees from four nearby properties,…
Month: March 2015
Apple Inc. signed a 260,000-square-foot lease at the Main Street Cupertino development in Cupertino, CA. The two office buildings currently under construction are part of a project that includes 130,000 square feet of retail space, an 120-unit apartment complex and the 180-unit Marriott Residence Hotel. Construction on the two 130,000-square-foot office buildings is slated to wrap up in May. Brandon Bain and Erik Hallgrimson of DTZ in San…
OnDeck Capital Inc. expanded its headquarters space at 1400 Broadway in New York City by 79,000 square feet. The small business lender will grow from 38,000 square feet to a total occupancy of 117,000 square feet in the Empire State Realty Trust-owned building. The 38-story, 908,237-square-foot, 4-Star office tower was built in 1930 in the Penn Plaza / Garment District submarket of Manhattan, at the northeast corner of W. 38th Street. Keith…
Home sellers don’t always give you the full details of the property they are trying to sell. Unfortunately, hiring a professional inspector can get expensive if you are viewing multiple homes. Therefore, here are some things that are obvious even to a novice which can tell you not to buy the home.
First of all, check the neighborhood. Very few things are more important than this. The community is either growing and decline and you need to find out which one it is. If you notice many homes are being foreclosed and local businesses are closing, then the community is declining. Also make sure that you visit the area at different times and on different days. This is also a great way to find out what traffic is like. Don’t forget to schedule one evening visit, to see whether there is nuisance on the streets at night. Speak to the police and ask for statistics on local crimes.
Then, you need to look into things that may have caused damage to the property that are very hard to fix. Some of these issues include water damage, pest damage, asbestos, mold and faulty wiring. The issue is that identifying these types of problems can be very difficult. The current owners themselves may not be aware of the presence of these problems. If they do know any of these problems are present, they may do all they can to keep them hidden. It is incredibly easy to hide these significant issues through simple things such as cleaning and switching the power off. To find out whether these issues are there, you can organize a professional home inspection, but you can also speak to community members. They can tell you about the history of various properties in the area. Usually, problems like pests, water damage and mold don’t occur in just one home.
In the end, it is only you who can decide whether or not you will buy a property. However, you should always exert due diligence. You should never purchase a property that you didn’t have reviewed by a professional inspector. If you do find a property has significant issues, you have the option to simply walk away, or you can try to have the price decreased to compensate for this. However, be very careful when trying the latter option, as you may just find yourself with a house that requires a lot of very expensive repairs.
In order to sell your home for top money, you need to invest a bit of time. Not only do you need the time to do a bit of work on your property, you also need some in order to research the real estate trade. Knowing a little bit about real estate will help you out a lot in terms of selling your home for a good price. Hopefully, the hints and tips below, which come from real estate professionals, will ensure your home gets sold for a really good price.
First, you must understand how critical appearance is. Hence, if you do want to sell your home, make sure you pay attention to outward appearance. You cannot change the geographical location of your home or its floor plan, but you can change the way your home looks. Remember that a home purchase is, by and large, an emotive rather than a rational decision, which means your home must look and feel right. Also remember that this must be invoked in all the senses.
Next, you have to make sure that your motivation is a private affair. It is all too easy to use your motivation against you, particularly if your potential buyer is supported by a smart realtor. Try to be as obtuse as possible when asked why you want to sell. One answer to give them is that your housing needs have changed. This is just vague enough to be the perfect answer. They will likely hear exactly what they want to hear, and usually in a positive light. One example is that they believe you came into money and are looking to upgrade. Or they may think your kids have left the home and you are looking to downsize. The important thing is that your buyer won’t think that you are simply selling for the money.
Last but not least, get ready to clean up. Scrub like you have never scrubbed before. You are going to get filthy yourself, but it needs to be done and you can also start to get rid of all the clutter, which you have to do before you move anyway. Your goal is to ensure your home is a true show home. Hence, you have to check the outside of the home, too. You have to make sure that your yard is clean and tidy, that your lawn is mowed and free from weeds and that your trees and bushes are pruned properly. Remember that the outside of your home is what will create the first impression. And don’t forget that you only get one chance to make that first impression. Hopefully, these tips will help you to sell your property as quickly as possible for the best price.
Buying or selling a home requires a lot of forward thinking. We live in a digital age where almost everything is completed online, but do still choose to work with a realtor. Let’s review a few things to know about picking a realtor.
First, you need to look into your realtor’s experience. Usually, realtors with more experience are also better at their job. If you find someone who was operating before the financial crisis and is still in business today, you are on to a really good one. You do have to ensure they have experience that is relevant to your personal needs. For instance, the needs of a first time buyer are very different from the needs of a national property developer. You also need to know that your realtor understands your demographic and geographical requirements. For instance, if you were to purchase a farm, you need to work with a realtor that is very different from one that only works with apartments in major cities, as your requirements will be very different. Should you be interested in purchasing a property that is historic or listed, for instance, you will need the services of someone very different.
Besides experience, you also need to look into reputation. There are many realtors out there who quite deservedly have a very bad name. There are a number of tools at your disposal to find a good realtor, fortunately. The Better Business Bureau website is one really good tool to tell you how well they have operated in the past. Do make sure you also use social media to your advantage. It is almost impossible to hide an opinion, good or bad, once it has appeared on social media. Also, you may be able to get advice on the matter through people you know. But remember to always consider whether any complaints are relevant to you and see how they were resolved.
If you are selling, you are likely to have to sign an exclusive realtor agreement. This is a common procedure but it does not mean you lose any rights. For instance, if you are unhappy with the service, you are within your rights to terminate the contract. The contract stops you from enlisting the services of a different agent at the same time, but is otherwise non-restrictive. If you want to buy a property, on the other hand, you don’t have to sign such a contract. However, some realtors are starting to insist on it. Last but not least, you need to understand the way realtors earn their living. There are a number of constructions realtors can use. Although there are a few realtors who charge a flat fee, the majority of them will work on commission. You need to work out which of the two constructions your realtor will use before you agree to work with them.
You must learn about representation before you start searching for a realtor. A seller’s agent will represent you if you are looking to sell your property. Those who want to buy, however, are looking for a buyer’s agent. Both buyer’s and seller’s agents are legally bound to representing you properly as soon as you have signed a contract with them.
You should always ask others for recommendations. However, you need to look for more as well. Hence, you need to do your research. Make sure you find a realtor that has a specialization in the properties you are interested in. If you want to purchase a condo, there is no point going to someone that specializes in luxury mansions. Always take the time to interview a potential realtor. Some questions to ask include how they represent, how they work, how much they cost, whether they have references and so on. You also need to talk about your expectations. They must understand your needs. Finally, you need to actually like your realtor. After all, without a personal liking, there will be no trust either. Lastly, try to find a realtor that has a lot of experience. There is something to be said for working with new people and giving them a chance, but buying or selling homes are incredibly important financial decisions and you need someone that actually knows what they are doing.
Besides experience, you also need to look into reputation. There are many realtors out there who quite deservedly have a very bad name. Luckily, you can also find information that tells you which realtors do have a good reputation. Make sure you review the realtor you are considering through the Better Business Bureau. You can also use social media to your advantage. People leave comments and reviews through social media that are hard to ignore or hide by companies, so this is a great way to get an honest opinion. Also, you may be able to get advice on the matter through people you know. If you do hear a complaint, however, make sure you find out whether that is a relevant complaint to you, and how the realtor reacted in response to the complaint.
Hopefully, this information will have helped you to find the best realtor for your needs. Whether you want to buy or sell, you should always work with a realtor. They are able to tell you when the best times are to sell or buy property, and this is vital information to make sure you don’t spent too much, or earn as much as possible.
Real estate investing can be both a complete failure or a complete success. As everybody knows, location, location, location is hugely important, but ensuring you deal with the right type of person is actually even more important. The sad truth is that you will find that there are some very unscrupulous people who deal in real estate. Consider those late night advertisements on television, where realtors promise to make you a millionaire, for instance.
Try to see rental properties like a stock market. This is because most of us understand these and know that we need to spend money to make money. However, whether or not stocks will perform well simply cannot be determined properly. The same is true for retirement calculators, who simply “guess” when we will die. As a result, we may end up broke if we live slightly longer than expected.
On a personal level, you need to have excellent people skills and be a skilled manager and negotiator. You also need to be able to do repairs, or have a team of people to do this for you. Last but not least, make sure you hire a property inspector. Most people who invest in real estate do so because they want to become landlords. This means that you must learn about being a landlord and how to find tenants that are desirable. It is hugely important that you have available capital, because real estate investing is about spending money to make money. It is almost impossible to make it in this world without having some money of your own. Now that the practicalities are behind you, you can start looking into locations. There is all sorts to find out online, through local libraries and on town board meetings. Find out not just about current situations, but also about future development plans.
Another option you have is to invest through a real estate investment trust (REIT). This means you need less investing capital up front, but the returns are not as high either. Through a REIT, you basically invest in real estate corporations. This includes things such as shopping malls and industrial complexes. You can keep track with the performance of a REIT through the NASDAQ and stock exchange. A REIT, essentially, is like a mutual fund that only looks at real estate. You do need to think about a few things before you invest in a REIT. Look into the economic conditions of the locations of the key holdings first. Also, you should look into how the REIT has performed historically. You should also consider their future plans. Find out who the manager is and what they history is. Finally, what is the state of the current real estate market and how will the REIT respond to any changes in this market?
Bechtel Corp., one of the world’s largest engineering, construction and project management companies, will relocate 700 jobs to Fairfax County, Virginia, from its Frederick, Maryland, operation as a result of global restructuring. The company will invest $10 million in the Fairfax County location as a result of the move. Bechtel will lease up to 175,000 square feet in the Reston area of Fairfax County for the expansion. Its corporate headquarters…