Rising Market

The dreadful real estate market is increasingly improving. Texas is the leader, being the state with the most cities listed.

“With nearly 100 metros showing consistent improvement in local economic and housing conditions, more consumers are feeling confident enough to take advantage of the buyer’s market this spring,” says Kurt Pfotenhauer, vice chairman of First American Title Insurance Company.

The following areas have been included on the list:

Anchorage, Alaska
Little Rock, Ark.
Bakersfield, Calif.
Merced, Calif.
Washington, D.C.
Crestview, Fla.
Orlando, Fla.
Panama City, Fla.
Iowa City, Iowa
Evansville, Ind.
Louisville, Ky.
Flint, Mich.
Holland, Mich.
Saginaw, Mich.
Springfield, Mo.
Jackson, Miss.
Burlington, N.C.
Charlotte, N.C.
Goldsboro, N.C.
Rocky Mount, N.C.
Glen Falls, N.Y.
Rochester, N.Y.
Columbus, Ohio
Dayton, Ohio
Altoona, Pa.
Charleston, S.C.
Spartanburg, S.C.
Sioux Falls, S.D.
Austin, Texas
San Antonio, Texas

by Adrian Provost
images courtesy of Adrian Provost

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

Real Estate Blog

Funding Blog

Investment Blog

Water World

Peter Thiel, famous for founding PayPal and being an early investor in Facebook, may become recognized next as the godfather of an oceanic Utopian power movement. The development and purchase of these aquatic libertarian paradises will be limited to the super rich. He isn’t the originator of this spectacular, yet peculiar idea, but he will be credited as a pioneer of these “nations” if they are to be constructed and implemented as planned. Development for these projects are being prepared now with hopes of completion in the near future.

by Adrian Provost
images courtesy of Dornob

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

Real Estate Blog

Funding Blog

Investment Blog

United States Government Reduces Foreclosure Supply By Nearly 50%

The United States government was able to decrease its over-saturated foreclosure stockpile. Uncle Sam reduced its inventory by close to fifty percent (50%), HousingWire reports in analyzing financial statements from three government enterprises.

From the end of 2010 to 2011, the Department of Housing and Urban Development, Freddie Mac, and Fannie Mae witnessed a tremendous reduction in the number of REO properties it owns. The three government enterprises held about 150,700 properties as of Dec. 31, 2011, compared to 296,000 at the end of 2010. “The GSEs sold REOs at a record pace in 2011,” HousingWire reports. “Combined, both sold more than 353,000 previously foreclosed property for the year.”

Here’s a more detailed view of how much the government enterprises trimmed their foreclosure inventories:

Freddie Mac: Reduced its foreclosure supply to 60,500 properties. This amount is down 16%. It was listed at over 72,000 units in 2010.

Fannie Mae: Decreased its foreclosure catalog to slightly over 118,000 properties. This amount is 27% less than the 162,000 units registered at in 2010.

HUD: Depleted its foreclosure archive to only 32,000 properties. This amount is a 47% drop from the 62,000+ properties it had on hand in 2010.

by Adrian Provost
images courtesy of foreclosure.avvo
(housingwire contributed to this report)

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

Real Estate Blog

Funding Blog

Investment Blog

Funding Available for Low Income Housing

The most difficult hurdle for acquiring low-income housing, is purchasing the property without any capital. This is where The Provost Group can help! Obtaining financing is especially critical with for-profit developers, whose projects need to make financial sense at the end of the day.

This is how we can make it happen for you: Our investors put up the equity and debt and own 99.99% of the property. They take the depreciation. A partnership is put in place. You become the general partner and investors take up to 20% of the income, the balance is divided up. Section 42 runs for 15 years with the same “owners”.

Information on Low-Income Housing:

We are looking for Section 42 of the IRS code but are not limited to this, as to not miss any opportunity. This includes senior housing, student housing, people making $35K or less per year, or subsidized market. We would be interested in any property yielding a MINIMAL NOI of $1,500,000…nothing less! Anything above this would be great and we would be capable of taking it down!

Contact me now at mail@adrianprovost.com || 1-888-901-8421 || www.The-Provost-Group.com

by Adrian Provost

images courtesy of  ehowcdn.com

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

Real Estate Blog
Funding Blog
Investment Blog

7th annual SEE Real Estate Awards

EuropaProperty is proud to present the seventh annual SEE Real Estate Awards. The Awards will be held at the Athenee Palace Hilton Hotel in Bucharest, Romania, on May 17th. As an acknowledgment of the growing interest in, and significance of, the commercial real estate and related industries in South-eastern Europe, from both a development and investment prospective, the event covers Romania, Bulgaria, Croatia, Slovenia, Serbia, Montenegro, Macedonia, the Republic of Moldova and Albania.

Awards are presented for companies, projects and professionals operating in the region. Furthermore, for the first time, EuropaProperty is introducing the new SEE Green Building Awards. In addition, for the second year, there will be four new Retailer of the Year Awards including Overall and Newcomer of the Year Awards.

Also, to complement the seventh annual SEE Real Estate Awards Gala, EuropaProperty is organizing a series of discussion panels which will provide a current analysis of the rapidly developing markets of South-eastern Europe from the perspective of commercial real estate investors, developers, and consultants active in the SEE region, in addition to offering the opportunity to meet and network with leading market players. The panel discussions will examine the office, retail, industrial, hotel/leisure and investment markets of Romania, Bulgaria, Croatia and Serbia. The schedule includes morning and afternoon networking coffee breaks, lunch and a closing cocktail reception.

via europaproperty.com
images courtesy of realtybiznews.com

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

Real Estate Blog

Funding Blog

Investment Blog

If you are seeking project funding between $250K – $500M submit an inquiry to mail@Adrianprovost.com or call me directly at 1-888-901-8421

I represent a nation-wide network of private capital investors that can get your real estate or commercial construction project funded in all 50 states in a timely manner. My company takes pride in the fact that we are not Brokers that are shopping your deals. We are a Direct to the Funding source. We are the Loan Mediators between the Principal and the Funding Group, which is what separates us in the Commercial Funding Industry. Feel free to submit an email to mail@AdrianProvost.com or call me at 1-888-901-8421

by Adrian Provost

www.The-Provost-Group.com

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

Twitter
Facebook
Linkedin
BiggerPockets
Zillow
Trulia
Real Estate Blog
Funding Blog
Investment Blog
Property Search

For Sale at the Hotel!

The Renaissance Atlanta Waverly Hotel & Convention Center located at 2450 Galleria Parkway in Atlanta, GA will be host to an upcoming auction over the weekend. The gorgeous Atlanta hotel offers sophisticated accommodations including a magnificent 14-story atrium and in a few days will be offering one-of-a-kind real estate investment opportunities.

The property is directly connected to the 320,000 square foot Cobb Galleria Convention Center. Known for playing host to outlandish corporate gatherings and lavish soirees, this beautiful property boasts over 60,000 sq. ft. of space! This AAA 4-Diamond hotel located in Smyrna is the crown jewel of the Galleria shopping and office complex.

Guests can take pleasure in the boutique shops of nearby Vinings Jubilee and the Cumberland Mall that sits across the street, while downtown Atlanta and Hartsfield Jackson International Airport are a few minutes beyond.

The hotel is landlord to fine dining restaurants and lounges such as The Atrium Cafe, Medici, Tosca Blu Bar, The Atrium Bar, and of course a Starbucks cafe. Feel free to submit your information to mail@AdrianProvost.com if you’re interested in receiving a brochure of the auction inventory or to RSVP to this can’t miss event!

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

by Adrian Provost
images courtesy of Renaissance Atlanta Waverly Hotel & Convention Center

Did the vacant 10,000 square-foot restaurant space adjacent to Mansion on Peachtree finally land a tenant?

Tom Colicchio is the recipient of five James Beard Foundation Medals for cooking accomplishments and has been the head judge on every season of the Bravo reality TV show Top Chef. Unfortunately, his flagship Buckhead Restaurant, Craft failed to reach an extended lease agreement with the new owners of the Mansion on Peachtree Hotel, 3376 Peachtree Rd – Atlanta LLC. The restaurant’s agreement with the original owners of The Mansion on Peachtree, Mansion Centre Development LLC, was not transferred to the current owners.

So where does that leave this highly sought after, spectacular piece of real estate? Possibly in the hands of Del Frisco’s Grille! Numerous reports indicate that the restaurant space, which is placed directly in front of the elegant 42 story hotel, is close to solidifying a lease agreement with the Dallas-based Del Frisco’s Restaurant Group.

There’s also a buzz about the project being designed by Del Frisco’s partner in crime, The Johnson Studio. Which is an Atlanta-based architectural & design firm known for creating extraordinary spaces*

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

By Adrian Provost
images courtesy of hospitalitydesign.com

San Diego based real estate developer, Oliver McMillan, is making huge strides with its “Buckhead Atlanta” development project. After formally filling multiple permits with the city of Atlanta, the development company will begin bridging Atlanta’s older and newer regions. The Buckhead Atlanta Development will serve as a new, elegant community for residents and visitors. Buckhead Atlanta, formerly known as “Streets of Buckhead” will immediately become a landmark destination, complete with residential towers and world-class design and architecture. The six-block, eight-acre, luxury mixed-use urban village project will include distinctively designed buildings.

Spokesperson of the project, Bryan Long, stated “The development plan has been scaled back to a more walkable, human scale, with one to two-story buildings on the southern edge of the property, scaling up to the already planned, 20-story apartment towers”. With easy access to highways I-75, I-85, I-285, and Georgia 400 this is one of Atlanta’s premiere locations. Within a mile are such prestigious hotel properties as the Ritz-Carlton, the JWMarriott, The Intercontinental, Westin Buckhead, and St. Regis Hotel

The Buckhead Atlanta development is located at the intersection of Peachtree and East Paces Ferry roads. Important project assets include convenient parking, a luxury residential component, natural integration into the existing structure of the city and long-range value and sustainability to the property and city through planning and design.

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

The state of Georgia is home to some magnificent properties. Here’s a list of the most expensive and extravagant mansions on the market. If you’re looking for a one-of-a-kind home in the “Peach State” then look no further! However, if you don’t have between $10,000,000 – $36,000,000 sitting around, then check out www.Search-Georgia-Homes.com - you’ll be sure to find a property that suits your needs*

1) 125 S Langston CIR - $36,000,000
2) 490 W Paces Ferry RD NW - $19,900,000
3) 6531 Athletic Club DR - $19,900,000
4) 0 Pointe Sidney DR - $17,500,000
5) 65 Valley RD - $14,900,000
6) 421 Blackland RD NW - $11,500,000
7) 2900 Andrews DR NW - $10,900,000
8) 1867 W Wesley RD NW - $10,500,000
9) 5501 Long Island DR NW - $10,250,000
10) 435 King RD NW - $10,000,000

This information is accurate as of February 15, 2012. All information including status of property and price is subject to change.

Follow us on Twitter! @AdrianProvost & @RealEstate_NOW

By Adrian Provost
images courtesy of AOL Real Estate