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Peter Chadwick in court

Quee Chadwick Killed By Real Estate Investor Peter Chadwick?

Peter Chadwick in court

It isn’t confirmed without a shadow of a doubt that Peter Chadwick was the killer of Quee Chadwick but police have confirmed Quee Chadwick is dead. The Newport Beach Police Department was quoted telling CBS Los Angeles, “We responded out to the home and found evidence of a possible struggle or foul play. The investigation has revealed that Quee Chadwick is definitely a victim of homicide and although her body has not been located, we are currently searching the areas we believe Mr. Chadwick may have traveled.”

Prosecuters on the case against the Real Estate investor seemed to be pretty certain there was a murder. The Daily Pilot had interviewed one of the Chadwick’s neighbors who said that Quee Chadwick could be heard screaming. The screaming coming from the Chadwick’s house came around 6:30am or 7am Monday or Tuesday. Regardless the neighbor, Yulianna Nikulina said, “Peter [was] always nice, nothing wrong, nothing special. I can only tell you good things about this couple.”

The drama started to unfold when another neighbor noticed the Chadwick’s kids were waiting for a long time at the bus stop. The neighbor that saw the kids waiting called police and alerted them. It was at this point that police went to the multi-million dollar house and noticed there had been a struggle and possible signs of a murder scene.

When Peter Chadwick was attempted to be located he was nowhere to be found. Quee Chadwick was also missing at the scene and anywhere else police searched. By Thursday in the morning police in San Diego got a break in the case when Peter Chadwick called them for a reason that police will not reveal. Mr. Chadwick was soon located on a highway that wasn’t far from the Tijuana border.

Today Peter Chadwick faced a judge and pleaded not guilty. Mr. Chadwick was on a $1.5 million dollar bond and still remains in jail. It has been reported that Mr. Chadwick is charged with a felony count of murder for financial gain. The details of the case will most likely soon unfold as Mr. Chadwick faces a trial.

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Foreclosure Investments in US Foreign Buyers

Foreclosure Investing Growing In US From Foreign Markets

Foreclosure Investments in US Foreign Buyers

While there is certainly interest and demand domestically in America for foreclosure properties on the market, it seems interest is only building across the ocean. We caught wind of a press release that seems to tout the amazing investment opportunities in the US Real Estate market and the possible returns that are sitting there ripe for the taking.

Used as one of the pieces of advice in the press release was some quotes from Warren Buffet. Mr. Buffet was recently interviewed on CNBC’s Squawk Box and mentioned his feelings on the housing market and how he wouldn’t mind to invest on a large scale effort.

Mr. Buffet was quoted as saying, “If I had a way of buying a couple of hundred thousand single family homes and had a way to manage them…..i would load up on them.” It was also pointed out that with Warren Buffet saying that he had no self bias at the time because Berkshire Hathaway has little investments in the US real estate market.

The owner of the business offering these foreclosure opportunities as investments was quoted as saying, “”We are managing to secure family homes that are achieving rents of $900-$1200 per month for between $50,000 and $75,000 in quality cities where jobs growth is stimulating rental demand.” Phil Gerathy was talking about the Michigan market and he seems to have some connections to be able to land deals on the houses at $50,000 when average listing prices are pushing $200k.

The press release focused on the Australian investments they’re trying to perfect and build. If you live in the US and you’re trying to decide whether to invest in a home or in foreclosures, it’s probably a good sign that you should act if other groups from foreign countries are. Foreclosure properties are still out there but demand is certainly picking up almost nationwide.

Posted in Featured, International, Investing, Residential0 Comments

Houston Home Prices Break Records

Houston Home Prices Break Records, Sales Highest in 4 Years

Houston Home Prices Break Records

 

There are certainly some really depressed markets in the real estate market right now. Las Vegas is dragging the entire US market into a gloomy state with low sales, high foreclosures and a lot of rough positions. Houston, Texas however is busting out of the gates and making Realtors across the country take notice.

If the Houston Real Estate market isn’t screaming at least a temporary recovery we just don’t know what else would do it. The Houston Association of Realtors (HAR) have announced with a report that home prices have now broken records and sales volume has reached the highest it has been in four years.

In interviews it was revealed that jobs are making a big impact on the real estate economy in Houston. “Both buyers and sellers are reaping the benefits of an extremely healthy and robust real estate climate in Houston, driven largely by continued job gains that have been responsible for drawing many new consumers to this market,” said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. “Buyers are able to take advantage of the lowest interest rates in history as they shop for homes, and we’re also hearing accounts of sellers receiving the asking price for their homes, and in some cases getting even more.”

A single-family home has seen price increases that have been pegged at about 8.5% from 2011 to 2012. The single-family home average price is now $237,083 which is the highest that Houston has ever seen.

So the prices of the Houston home values are on a steamy rise what about the sales volume? May 2012 saw sales volume in the Houston home market see gains of 10.5% from a comparison of last year to May in 2012. The total pending sales in the Houston area were 4,476.

HAR MLS Market Update Video for May 2012

Join David Mendel and HAR Chairman Wayne Stroman, as they discuss property sales for May 2012.

Posted in Featured, Investing, Residential0 Comments

Real Estate Investment Scam Discovered:  SEC Charges NJ Man

Real Estate Investment Scam Discovered: SEC Charges NJ Man

An alleged Real Estate Investment scam was discovered by the SEC and have since charged David Connolly of Watchung, New Jersey.  The SEC alleges that Mr. Connolly operated a phony scheme that duped clients into more than $2 million of real estate investment shares.  Mr. Connolly operated Connolly Properties Inc. which was suppose to supply real estate investors monthly dividends from cash-flow profits from shares purchased.  The profits were would come from rental income from apartment buildings as well as property appreciation growth profit.

Connolly Properties did initially hold real estate investments in both Pennsylvania and New Jersey.  However, after quickly figuring out that these real estate investment properties would not produce the promised dividends to investors he chose to make Ponzi-like payments to his early investors by using money from his new investors.  During that time the SEC alleges Mr. Connolly took at least $2 million in his investor funds and used them for his own personal use.

What probably caught the SEC’s eye and really brought the heat on Mr. Connolly was the fact that the security offerings in the real estate investment vehicles were never registered with the Securities and Exchange Commission.  Registering these real estate investments is required by federal law.

Connolly Properties originally began offering real estate investment in 1996, having raised over $50 million in 200 plus investors.  The SEC claims that Mr. Connolly told investors that all of their investments would be used only for properties related to the real estate investment vehicle chosen by the investor.  However, it became a mess when the funds were also mixed with other funds from various other investments including payments to made out to himself.  To continue the scheme real estate refinancing was utilized to boost the cash flow.

Mr. Connolly has been indicated on one count of securities fraud among several other criminal charges.

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Confidence of US Builders Dwindles

For the first time in seven months, the confidence of builders in the United States has fallen. Builder confidence had risen for six straight months, but that trend came to a close in April.

 

The residential real estate market has experienced gains for the past few months, which contributed significantly to the growth in builder confidence. However, some economists believe that the expected increase in foreclosures is starting to take its toll on the builder community.

 

It is due to the anticipated increase in foreclosures that many builders believe that overall sales will drop in the next six months. In general, builders now have a negative outlook on the housing market.

 

The spring buying season got started earlier than usual this year, as many potential homeowners took advantage of the warm weather to look for new homes. Despite the early start, many potential homeowners have not acted on their expressed interest. The lack of action taken by potential homeowners is likely due to the fact that they may want to wait to see what kind of homes go up for foreclosure.

 

Over the last few years, foreclosures have made life and business very difficult for builders. Builders simply cannot compete with low prices of foreclosed properties.

 

There are some regions in the United States in which builders have had great success, though they are few and far between. Builders have done well in New Orleans and Pittsburgh. However, at the national level, they have not been able to replicate that success.

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Office Rent Prices on the Rise in Manhattan

The office rental market is on the rise once again in Manhattan. Rent prices for office spaces increased to nearly fifty-nine dollars per square foot during the month of March. Rent prices have increased by nearly eight percent over the last year.

 

The southern end of Midtown Manhattan posted the largest increase in rental prices. Prices in that submarket increased by nearly six percent during the first quarter of 2012.

 

While the rental market in Manhattan saw strong price increases during the first quarter, the leasing market for offices in the city has slowed down slightly. The leasing market posted its strongest year since 2000 last year, though there was a substantial slowdown during the fourth quarter. That slowdown continued into the first quarter of 2012, as just under six million square feet of office property was leased.

 

The southern sector of Midtown posted a vacancy rate of just under six percent. That number is an improvement over the six and a half percent vacancy rate from last quarter. It is also the best in Manhattan, where the overall average vacancy rate is just over nine percent.

 

The southern section of Midtown is likely experiencing incredible growth because it has become the home of many media and technology companies. It is the growth of those companies that has helped Manhattan rebound from the depressed market that resulted from the recession.

 

While New York was once known as the financial capital, it is quickly diversifying itself, as technology and media companies make it their home. As those companies continue to grow, rental prices will likely continue to improve.

 

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Single-Family Homes May Be Next Big Investment Opportunity

Economists and investors in the United States are closely watching the single-family housing market as potentially being the next great investment. Their idea of investment, however, does not resemble the house flipping strategy that, without a doubt, contributed to the decline of the housing market in 2007.

 

Some of the world’s biggest and most successful investors are, instead, looking to buy single-family homes with the intention of renting them out to tenants. Many economists feel that such a strategy would not only be wildly profitable, but it also may just save the housing market.

 

The majority of the big-time investors looking at single-family homes in the United States traditionally have focused on exotic hot spots. However, the affordability of single-family homes in the United States offers too much investment opportunity to pass up.

 

Investment buyers bought nearly one and a quarter million homes last year alone. That number of sales is more than sixty percent higher than it was just one year earlier. Even the legendary Warren Buffett is calling the United States single-family home market an incredible investment opportunity.

 

Some lenders, like Bank of America, are looking to take advantage of the booming increase in investors, and are now offering homeowners the opportunity to avoid foreclosure by essentially relinquishing their home to the bank, and then paying rent for three years. After three years, the bank would then sell the home to investors.

 

Another factor that makes single-family homes an excellent investment in the current market is that they are becoming more commonly rented than ever before seen. In fact, roughly eighty percent of couples opt to rent single-family homes after getting married.

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Rents Continue to Increase in the United States

As housing prices continue to fall across the nation, the price of rent continues to rise. Apartment landlords have done very well in the last few years while the housing market has underwhelmed. The apartment vacancy rate is at its lowest in more than ten years across the nation, and looks to fall even lower.

 

With increased demand, and a dwindling supply, it only makes sense that rent prices continue to increase. The biggest increases are seen in the biggest cities, with San Francisco, Boston, Austin, and New York City all out in front. Even cities that have seen sharp declines in their housing market are experiencing strong gains in rent prices.

 

More and more people are looking to rent in the current market, as there is still a significant amount of uncertainty regarding whether or not the housing market will start to show signs of improvement in the near future. Other factors, such as job uncertainty are also playing a role. Job growth has started to improve in the recent months, though people are more likely to rent until they have been with their job for at least a year. As such, economists believe that the current renters market will see further growth for at least the next year.

 

Another factor that is contributing to the booming rental market is that many families that would consider buying a home are having a difficult time qualifying for a mortgage. Lenders continue to be very stringent with respect to who they approve in terms of mortgage loans, and until they loosen their policies, it is likely that the rental market will thrive.

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Banks Agree to $26 Billion Deal for Homeowners in the U.S.

The major banks in the United States will finally provide assistance to more than two million current and former homeowners in need after finally agreeing to a twenty-six billion dollar settlement. The United States government and the big banks spent many months going back and forth trying to work out a settlement that was intended to hold the banks accountable for foreclosure abuses.

While many homeowners, the government, and the big banks are happy that this lawsuit has finally been settled, there is a vocal minority that is not entirely pleased with the end result. The settlement will only help out a fraction of those that are facing foreclosure. Roughly one million current homeowners will have their mortgages reduced. The seven hundred and fifty thousand former homeowners who lost their home as a result of the foreclosure abuses will receive a check for two thousand dollars at some point in the next three years.

The majority of the states have signed the agreement, ensuring that their residents will receive some of the aid. The two most recent states to join in on the lawsuit are New York and California. In New York, roughly forty-six thousand homeowners will benefit from the lawsuit. Half of those forty-six thousand will receive a reduction in their mortgage principle. The other half will receive the two thousand dollar check.

The federal government had hoped to increase the settlement to thirty-nine billion dollars, though the increase is highly unlikely now that the deal has gone public.

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United States Commercial Property Market Top Choice Among Investors

Global investors have long considered the United States to be the best commercial real estate market for investing their money. That perspective is not expected to change in 2011, as analysts believe the U.S. will remain the top market choice among global investors in 2012.

The United States has long been considered by many global investors to be the most stable commercial property market worldwide, and with rent and occupancy rates expected to grow in the next year, that reputation is expected to continue. Prime cities continue to be the target markets for most international buyers, with New York, Washington D.C., Los Angeles, and Boston being the most preferred choices.

Brazil has quickly established itself as the second most preferred market to global investors, as its rapidly growing economy and strong performance expectations over the next few years playing a significant role in its rise to the top. With both the World Cup and the Olympics set to take place in Brazil in the next five years, the nation has become an international hotbed for investors. In fact, Sao Paolo jumped more than 20 places to be named the fourth best city for commercial real estate growth in 2012.

While the United States remains the top choice among global investors, interest has waned slightly. The number of prospective foreign investors in commercial real estate in the U.S. is expected to drop by roughly twelve percent in 2012.

China rounds out the top three for the best commercial real estate markets for international investors. China was the second best market for 2011, though with strict government restrictions likely to remain in effect, many international investors have decided to look to other nations.

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