Housing prices soar in mountain towns thanks to tech transplants

Housing prices are rising fast in Western mountain communities where newly liberated tech workers are moving in. Major tech firms, including Facebook, Twitter and Stripe, have implemented flexible work-from-home policies for their employees — some permanent — since the onset of the pandemic. And some of their employees who were previously tied to the Bay Area are flocking to towns around the Rockies, such as Boise, Idaho, and Park City, Utah, the Wall Street Journal

source https://therealdeal.com/2020/11/02/housing-prices-soar-in-mountain-towns-thanks-to-tech-transplants/

CoStar’s next target, ex-Zillow execs eye mortgage market

$4B burning a hole in CoStar’s pocket The giant has just purchased Germany-based Emporis, which has data on 700,000 buildings, to “jump start” its international business. The deal caps a string of buys for CoStar, including Ten-X ($190M), hotel data provider STR ($450M) and RentPath ($588M). CEO Andy Florance said CoStar’s international market opportunity is “more than twice” that of North America — and that’s pretty big. CoStar’s third-quarter revenue jumped 21 percent year over

source https://therealdeal.com/2020/11/02/costars-next-target-ex-zillow-execs-eye-mortgage-market/

Has there been a “Trump effect” on property values?

In July, President Trump announced that the Department of Housing and Urban Development would repeal an Obama-era rule requiring localities that receive federal funding to break down barriers to fair housing. “I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood,” Trump tweeted. “Your housing prices will go up based on the

source https://therealdeal.com/2020/11/02/has-there-been-a-trump-effect-on-property-values/

What four years of Trump has done for real estate

Nearly four years ago, Donald Trump was sworn in as the nation’s first developer-in-chief, surrounded by prominent figures from New York City real estate. The sight of his industry friends on the national stage seemed to send a clear message: Real estate had a powerful ally in the White House. But as Trump’s term comes to a close, a look back at his actions shows that his administration has been a mixed bag for the

source https://therealdeal.com/2020/11/02/what-four-years-of-trump-has-done-for-real-estate/

Former military fortress off English coast blasts onto market

Social distancing at this secluded property won’t be too difficult. A former military fortress in England is hitting the market for just over $5 million, according to the New York Times. Known as Spitbank Fort, it was built half a mile off the coast of Portsmouth during the mid-to-late 19th century to guard against French ships. It was decommissioned in 1950 and has been used for a variety of purposes, including a museum, nightclub, and

source https://therealdeal.com/2020/11/01/former-military-fortress-off-english-coast-blasts-onto-market/

Boeing looks to offload 30% of its real estate

Boeing may reduce its real estate footprint by as much as 30 percent because of the pandemic. The Chicago-based company announced on Wednesday it is exploring its options for selling some of the real estate it owns around the country, the Puget Sound Business Journal reported. “We’re reviewing every piece of real estate,” CFO Greg Smith said. “Every building, every lease, every warehouse, every site to see how we can be more efficient.” Smith said

source https://therealdeal.com/2020/11/01/boeing-looks-to-offload-30-of-its-real-estate/

James Dyson sells Singapore’s highest residence at a loss

James Dyson is taking a $7 million loss on a Singapore’s highest penthouse. Britain’s richest person is selling the 21,000-square-foot penthouse at the 64-story Guoco Tower to Indonesian billionaire Leo Koguan for $47 million, according to Business Insider. He bought it last year for $54 million. Dyson’s eponymous company — best known for its vacuum cleaners — moved its headquarters to the Southeast Asian country last year. It was there where the company planned to

source https://therealdeal.com/2020/11/01/james-dyson-sells-singapores-highest-residence-at-a-loss/