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elebrating its 10-year anniversary in 2005,
LuxuryRealEstate.http://www.luxuryrealestate.com/pdf/Feb06_LuxuryRE_v2.pdf.com
today hosts 765-plus brokers who collectively post in excess of 35,000 high-end
listings on the Web site. average of 35 million hits per month (about 150,000
from unique visitors) and is the most viewed luxury real estate Web site in the
world, according to the Alexa Internet ranking service. Chairman and CEO John
Brian Losh—who has also owned Seattle-based Ewing & Clark, Inc. since 1976—
originally created the site to get more exposure for the directory he has
published since 1989, “Who’s Who in Luxury Real Estate.” In this interview, we
get the inside scoop from Losh on the direction the luxury market—and his
company—are headed in. you just celebrated the 10-year anniversary of
LuxuryRealEstate.com. Did you ever anticipate the kind of growth the Web site
has experienced? has been phenomenal. It was one of the first luxury real estate
Web sites in the world and, as a result of the high-quality experience we
provide visitors, has become the most viewed luxury real estate Web site in the
world. No one could have predicted that kind of growth, either for the Internet
or for LuxuryRealEstate.com. Today we continue to make staying at the forefront
of technolo-gy a priority. New hot spots in the luxury market include foreign
locations such as this property in Costa Rica. RE: You are launching an enhanced
version of the Web site this month What are your goals with the relaunch?
friendly, and thus continue to lead the luxury real estate industry on the Web.
RE: Why has the luxury real estate Low interest rates have affected the real
estate market in The program goal is to provide the knowledge and skills in real estate so our citizens can participate in the making of economic decisions in their best interest in the buying, selling, investing, developing, and management of real estate.http://www.missioncollege.org/catalog/rlest.pdf. Student Learning Outcomes: Graduates are trained to: buy and sell real estate on their own; become licensed real estate salespersons, and/or brokers; become licensed real estate appraisers, loan officers, escrow officers, real estate investors, property managers, and real estate developers. Degree Students should take RLEST 90, Principles of Real Estate, so they can get their Real Estate Sales License as soon as possible. You may then take other Broker's courses concurrently with Real Estate 90 or after completing Real Estate 90. REVIEW l-SALESPERSON 3.0 units Advisory: RLEST 090 Acceptable for credit: California State University This course is designed to teach the student how to pass the California Real Estate Salesperson’s License Examination, or assist those students who are planning to take the California Real Estate Broker’s Examination. The material to be covered will include, but not limited to, real estate law, real estate practice, real estate finance, real estate appraisal, business opportunities and real estate mathematics. 085 • EFFECTIVE REAL ESTATE SELLING 3.0 units Advisory: RLEST 090 Acceptable for credit: California State University This course is designed to provide the student with the awareness and communications skills to achieve and maintain the rapport with clients, other salespeople and brokers necessary to the professional real estate salesperson. 090 • Mr.. Lund serves as the Organization's Managing Partner and President overseeing the origination of private real estate funds and investment opportunities for investors. Prior to forming The Geneva Organization, Mr. Lund was a founding shareholder and Senior Executive for First Industrial Realty Trust and Stonehaven Realty Trust where he was involved in over $500 million of public equity offerings and the acquisition of over $800 million of real estate. Chief Operating Officer for Argus Realty Investments and leads growth in the 1031 replacement property market for investors seeking current income, asset diversification and deferrals of capital gains tax liabilities. Mr. Snodgrass is currently establishing a pro-fessional organization for the industry called the Tenants in Common Association (TICA), to create a for-mal code of ethics and a central voice with regulatory and governmental organizations for the emerging industry. His practice is largely trans-actional, involving commercial real estate, family-owned businesses and related sales and financing. He has significant experience in governmental rela-tions at the municipal level, including zoning, licens-ing, and development issues. Jeff Peterson First American Exchange LLC Jeff Peterson works primarily in facilitation of standard deferred 1031 exchanges, as well as Tenants in Common (TIC) exchanges, build to suit exchanges, reverse exchanges and aircraft personal property exchanges. Jeff received his B.A. and Law degree from the University of Minnesota. He is a frequent speaker on various topics related to 1031 exchanges. Jeff is a member This act shall be known and may be cited as the state certified and licensed real property appraisers act.http://www.kansas.gov/kreab/pdf/regulations_statutes/ksa.pdf. An appraisal may be classified by subject matter into either a valuation or an analysis. A valuation is an estimate of the value of real estate or real property. An analysis is a study of real estate or real property other than estimating value. Specified services may include valuation work and analysis work. (k) A “state certified appraiser” means a person who develops and communicates real estate appraisals and who holds a current, valid certificate issued to such person under the provisions of this act. (l) A “state licensed appraiser” means a person who develops and communicates real estate appraisals and holds a current, valid license issued to such person under the provisions of this act. At least one member of the board shall represent the general public, at least two shall represent financial institutions and at least three shall be real estate appraisers. Upon expiration of the terms of the first members appointed to the board and thereafter: (1) No real estate appraiser member of the board shall be eligible to serve unless such member is a state certified or licensed appraiser; and (2) at least one appraiser member shall be a certified general real property appraiser. classification applied for and that persons renewing their certificates or licenses have current knowledge of real property appraisal theory, practices and techniques which will provide a high degree of service and protection to those members of the public with whom they deal. In making such determination, the board shall take into Average days-to-sell has varied month to The Lower Keys experienced the largest increase, up 19% to 182 days followed by the Upper Keys (+17%) at 171 days, and the Middle Keys (+8%) at 164 days.http://www.realestatefloridakeys.com/pdfs/summer06newsletter.pdf. Key West had the only decrease, down 11% to 121 days versus 137 days last June. The average sales price Keys-wide of $762K is just 2% over the $749K mark set during the 1st half of 2005, and down 23% from the January 2006 average of $1M. Key West continues to have the highest average at $893K though it is down 6% from $953K last June, and $1M at the end of 2005. Though real estate activity over the first six months of 2006 has declined from the record activity of the past five years, 2006 month-to-month market statistics indicate a gradual improvement. Coldwell Banker Schmitt Real Estate increased its market share of Listings Sold and Buyer Sales by 63% in the first half of 2006, in spite of the slower market. Of the 268 real estate offices doing business in the Keys, Coldwell Banker Schmitt’s five offices rank first, second, third, fourth, and ninth for number of sales. According to Realtor.com, the number-one real estate portal on the Internet, properties with virtual tours attain 40% more views on average than those without. Company Intranet site that provides our 150 agents and support staff with 24/7 immediate notification of new company listings and specific buyer needs throughout the Keys as well as communications and information concerning all aspects of the real estate market and company activities. The first and only Training Center dedicated to Real Estate to come to the Florida Keys provides top quality training by Before you enter into a discussion with a real estate agent regarding a real estate transaction, you should understand what type of agency relationship you wish to have with that agent.http://www.ithacaestatesrealty.com/redisclose.pdf. New York State law requires real estate licensees who are acting as agents of buyers or sellers of property to advise the potential buyers or sellers with whom they work of the nature of their agency relationship and the rights and obligations it creates. SELLER'S OR LANDLORD'S AGENT If you are interested in selling or leasing real property, you can engage a real estate agent as a seller's agent. A seller's agent, including a listing agent under a listing agreement with the seller, acts solely on behalf of the seller. You can authorize a seller's or landlord's agent to do other things including hire subagents, broker's agents or work with other agents such as buyer's agents on a cooperative basis. A subagent, is one who has agreed to work with the seller's agent, often through a multiple listing service. A subagent may work in a different real estate office. A seller's agent has, without limitation, the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and a duty to account. The obligations of a seller's agent are also subject to any specific provisions set forth in an agreement between the agent and the seller. BUYER'S OR TENANT'S AGENT If you are interested in buying or leasing real property, you can engage a real estate agent as a buyer's or tenant's agent. BROKER'S AGENTS As part of your negotiations with a real estate agent, you may authorize your agent to No doubt you will hear and see words and terms you’ve never heard before.http://www.ftc.gov/bc/realestate/resources/realestateglossary.pdf. The Federal Trade Commission, the agency that promotes competition and protects consumers, has prepared this glossary to help you better understand the terms commonly used in the real estate and mortgage marketplace. Also, a type of insurance policy in which the policy holder makes payments for a fixed period or until a stated age, and then receives annuity payments from the insurance company. An assump-tion of a mortgage is a transaction in which the buyer of real property takes over the seller’s existing mortgage; the seller remains liable unless released by the lender from the obligation. In the case of a mortgage, the collateral would be the house and real property. This is the kind of listing agree-ment that is commonly used by a list-ing broker to provide the traditional full range of real estate brokerage services. If a second real estate broker (known as a selling broker) finds the buyer for the property, then some commission will be paid to the selling broker. This kind of list-ing agreement can be used to provide the owner a limited range of real estate brokerage services rather than the tra-ditional full range. Executor: A person named in a will and approved by a probate court to adminis-ter the deposition of an estate in accor-dance with the instructions of the will. Homes that are permanently affixed to a foundation often may be classified as real property under applicable state law, and may be financed with a mortgage. Multiple Listing Service (MLS): A clearinghouse through which member real estate brokerage firms regularly and Classroom Computer Interactive (Maximum of 7 hours in one day, unless a one-hour exam is included and approved..) 10. A detailed outline of the course with time delineation is required with supporting documentation (instructor manual/notes, reference material, etc.) which provides an in-depth overview of course content. Courses requesting Law/Ethics or Property Management designation must detail specific information covered in those areas. 13. Is the course accredited, approved, or offered by any real estate or appraiser commission or trade commission? Has this course been approved for real estate education credit in any other state? In addition, it is understood that written notice must be given to the Real Estate Division Education Section should any change in location occur. For each period, at least 6 of the hours must be devoted to ethics, professional conduct or the legal aspects of real estate. For each period, at least 6 of the hours must be devoted to ethics, professional conduct or the legal aspects of real estate. (c) A basis and method of qualifying educational programs and certifying attendance which will satisfy the requirements of this section. 1. A person who is licensed pursuant to this chapter as a real estate broker, real estate broker-salesman or real estate salesman may apply to the real estate division for a permit to engage in property management. For the purpose of compliance with this section, 50 or more minutes of actual instruction constitutes a clock hour and initial licensing refers to the first issuance of a real estate license of any kind in Nevada. 1. The courses for continuing education ver the last several years, New Englanders have seen the value of their property appreciate greatly.http://www.tbf.org/uploadedFiles/RealEstate_Gifts.pdf. In many instances, real estate now represents the single largest asset owned by individuals, families and corporations. A gift of real estate to the Boston Foundation can offer you an excellent way to unlock the full appraised value of a property, offer significant tax and economic advantages, and build your family’s charitable legacy through support for your favorite charitable organizations or caus-es for years to come. Whether you contribute a house, condominium, apartment building, vacation home, commercial property or undeveloped land you wish to protect, the Boston Founda-tion can help you turn this gift into a lasting charitable giving vehicle. Reasons to give real estate to the Boston Foundation 1. Your gift can enhance your financial 4. You will avoid capital gains tax on Contributing your property outright to the Boston Foundation is the easiest way to give. Doing so will provide you with a charitable income tax deduction for the fair market value of the property (property must be owned for more than one year). You will also avoid capi-tal gains tax that you would have paid had the property been sold directly by you. You will also receive substantial tax benefits now, which include an income tax deduction for a portion of the fair market value, reduced capital gains tax from an out-right sale, and reduced estate taxes. Leaving your real estate to the Boston Foun-dation through a bequest is an excellent way to establish a permanent charitable legacy and avoid potential future estate Recruiting quality people is essential for building a strong real estate firm.http://www.realestatesimulator.com/pdf/res_nov04.pdf. Thanks to an Internet-based software program his firm licensed earlier this year, he can evaluate a prospective salesperson’s suitability for a career in real estate — and identify what type of training he or she may need — via his company’s Web site (www.keyes.com) in less than an hour. There are many personality assessment tools to choose from, but Pappas chose Real Estate Simulator, an industry-specific program that evaluates selling skills, personality and IQ. The individual being assessed gets to play the role of a real estate associate and interact with virtual clients and customers who are interested in buying or selling property. The program evaluates that person’s strengths and weaknesses (as they pertain to real estate sales) and generates a report that is e-mailed to the company. In the first month that Real Estate Simulator was available to visitors to his Web site, 120 people took the assessment. Although the Keyes Co. still holds regular mini-career days, Real Estate Simulator has streamlined the company’s recruiting efforts. For example, when someone calls to inquire about a sales position, he or she is directed to the Real Estate Simulator link on the company’s Web site. When potential recruits click the link, they’re transported to a page titled “Try Our Real Estate Simulator,” where they input their name and contact information and request a password. Real Estate Simulator takes potential recruits through the entire sales process — from building rapport to closing. By using Real Estate Simulator, Pappas has experienced a The commissioner shall have been for five years a real estate broker actively engaged in business as such in California, or shall possess related experience associated with real estate activity in California for five years within the last 10 years.. The commissioner may require that any licensed real estate broker and has complied or all materials used in obtaining advance fee with the provisions of this part. (b) The sale to or exchange with the public of eight or more real property sales contracts or (B) Providing or accepting preprinted promissory notes secured directly or collaterally rental applications, or responding to by liens on real property during a calendar year. A nonresident of California may become a real estate broker by conforming to all of the provisions of this part. The commission shall compensation of the licensee: update the contents of the guide whenever it Notice: The amount or rate of real estate determines that information within the guide is commissions is not fixed by law. Evidence of enrollment satisfactory received by the commissioner prior to October to the commissioner may include a statement 1, 2007, if the applicant obtains a passing score from the applicant made under penalty of on the real estate salesperson license perjury. The application for the salesperson she shall be required to submit evidence or examination shall be accompanied by the real certification satisfactory to the commissioner of estate salesperson license examination fee. Real Estate Commissioner within five days after the face of the license and type or write the new the adoption or modification thereof. Every licensed The members of our Real Estate Practice Team have been involved in the sale, acquisition, financing, development and/or operation of hotels, multi-family housing developments, shopping centers, office buildings, timberlands, planned residential and golf communities, retail developments, condominium developments, office They serve on various real estate-related associations and civic groups.http://www.arlaw.com/pdf/RealEstate.pdf. Team provides representation and advice to commercial real estate, finance and other industries. Representation includes all types of real estate sales and acquisitions, secured transactions, property development, commercial leasing, and all other aspects of real property and related finance law in the Gulf South region. Our attorneys provide analysis, advice and counsel regarding the structuring of real estate transactions and related financing arrangements, including mortgage and other secured transactions. • A publicly traded Real Estate Investment Trust in the acquisition and financing of two major class A office buildings in downtown New Orleans for $140 million. • A publicly traded gaming and entertainment client in the confirmation of its Chapter 11 Bankruptcy Reorganization Plan and post-petition refinancing of existing debt, and related real estate work. Team provides representation and advice to commercial real estate, finance and other industries. Representation includes all types of real estate sales and acquisitions, secured transactions, property development, commercial leasing, and all other aspects of real property and related finance law in the Gulf South region. Our attorneys provide analysis, advice and counsel Affidavit shall mean the real estate tax exemption or deferral affidavit.http://www.arlingtonva.us/Departments/CountyBoard/CountyCode/Ch43_RealEstateTaxReliefElderly.pdf. Deferral shall mean deferral from the Arlington County real estate tax according to the provisions of this chapter. Exemption shall mean exemption from the Arlington County rea l estate tax according to the provisions of this chapter. Owner shall mean any person who has title or partial title to the property for which exemption or deferral is sought and who has the use, control or occupation of the p roperty, whether this interest in such property is an absolute fee or an estate less than fee. Property shall mean real property. Real estate tax exemption, or deferral, or both, ar e provided for qualified property owners who are no t less than sixty-five (65) years of age or those qualified property owners who are permanently and totally disabled and who are eligible according to the terms of this chapter. Persons qua lifying for exemption, or deferral, or both, are de emed to be bearing an extraordinary real estate tax burden in relation to their income and financial worth. (1) Notwithstanding any other provisions of this chapter, triennially, and not later than August 15 of the taxable year, the person or persons claiming an exemption or deferral or both must file a real estate tax exemption or deferral or exemption and deferral affidavit, and annually b etween the triennial affidavit, file an income and asset declaration, with If the age or disability requirements are met during the current taxable year the portion of a qualifying person's real estate tax eligible for exemption or deferral or both shall be prorated to reflect the portion of the Morgan Stanley Real Estate is a fully integrated, global real estate banking, lending, and investing platform that provides strategic advice, capital market and investment management acumen by leveraging the entrepreneurial passion and industry experience of a committed team of real estate professionals so that investors, developers, owners and managers can realize their highest ambitions from their real estate activities.http://www.morganstanley.com/realestate/MSRE-Brochure.pdf. Involved with the project since its inception in the early 1980s, Morgan Stanley Real Estate worked on the complex’s restructuring, led its initial public offering, arranged several important strategic financings, and ultimately acquired the company with co-investors. Only a global platform that integrates real estate banking, lending and investing can meet the complex, ever-changing needs of real estate owners, developers and investors. Morgan Stanley has had a dedicated real estate business since 1969, the longest uninterrupted real estate industry presence of any Wall Street firm. Today, Morgan Stanley Real Estate is a premier global real estate franchise with local market presence in 20 offices throughout North America, Europe and Asia. Our goal is to be the leading global provider of financial services to the real estate industry. This platform offers a complete range of products and services in the real estate sector, including mergers and acquisitions, public and private debt and equity underwriting, mortgage financing and investment management. Leveraging our Firm’s significant resources, Morgan Stanley Real Estate and its employees often co-invest alongside or provide the capital necessary to | ||
