auction

ListedBy CEO Auctions Off Luxury California Condo For $100 To Drive Traffic, WOW!

SEE THE LISTING AND BID HERE WHILE IT IS STILL SO CHEAP: http://listedby.com/Listing/Details/2466233

 


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Real Estate Investors From All Countries and regions Flock To This Location…

As one of the most moribund housing markets in Europe, Spain has become a magnet for global bargain hunters. Real estate prices are down as much as 50 percent from their peak during a housing bubble, and investors from Asia to the United States and Britain are flocking to Spain to try to catch the uptick.

British Airways flights to Madrid are packed with London-based real estate executives. The hedge fund Baupost is buying shopping centers, Goldman Sachs and Blackstone are buying apartments in Madrid, and Paulson & Company and George Soros’s fund are anchor investors in a publicly listed Spanish real estate investment vehicle. Kohlberg Kravis Roberts just bought a stake in a Spanish amusement park complex. Big-name private equity firms and banks are teaming up with and competing against one another on huge loan portfolios with names like Project Hercules and Project Octopus.

“It’s surreal,” said Dilip Khullar, a 25-year veteran of Spanish real estate investing and director of Cadena, an investment fund. “One day it’s the worst place in the world to buy real estate and the next, it’s the best.”

The end of Spain’s real estate boom left unfinished projects like chalets at Cala Romantica on the island of Majorca.Enrique Calvo/ReutersThe end of Spain’s real estate boom left unfinished projects like chalets at Cala Romantica on the island of Majorca.

Low interest rates, set by the European Central Bank to help buoy Germany’s market, helped to fuel Spain’s housing boom. Real estate developers teamed up with local savings banks to borrow and build over and over again. “We were a train going 200 kilometers an hour and it was hard to stop,” said Jaime Pascual-Sanchiz de la Serna, executive director at Aguirre Newman, a leading real estate consulting firm. Construction reached a staggering 12 percent of gross domestic product, more than double the proportion in Britain or France.

When the bubble burst in 2008, Spain became toxic. “Nobody wanted to invest a penny in real estate,” said Mr. Pascual-Sanchiz de la Serna. “Spain was overbuilt and it was going to take 10 years to work through.”

It hasn’t taken that long.

The real estate market started to revive in 2013. Government reforms, including a relaxation of labor laws and stricter rules for banks related to accounting for bad real estate, meant that banks could no longer ignore the assets on their balance sheets. Once the banks had to hold more capital — in some cases drastically more — they started to think it was better to sell, analysts and bankers said.

Spain’s “bad bank,” called Sareb, formed in 2012 with the real estate assets of the country’s bailed-out banks, started to close deals. Separately, last July, Blackstone bought 1,860 apartments for 125.5 million euros, then about $166 million, and in August, Goldman bought a block of public housing in central Madrid. This combination of deals set a floor price, analysts said.

The recovery is still nascent. About €5 billion worth of real estate transactions took place last year, according to the consulting firm CBRE Spain — more than double the amount of the previous year but still small compared with the €166 billion in commercial real estate deals made in Europe last year. At the peak, Spain issued 120,000 mortgages a quarter; in the fourth quarter of 2013, the figure was 15,000. Fitch Ratings recently issued a report saying that real estate prices would continue to fall through 2014, not rebounding until 2015.

A housing block in Cancelada, in southern Spain. Many such assets from bailed-out banks went to a so-called bad bank, Sareb, which is gradually selling them off.Jon Nazca/ReutersA housing block in Cancelada, in southern Spain. Many such assets from bailed-out banks went to a so-called bad bank, Sareb, which is gradually selling them off.

And Spain’s economy continues to struggle. The unemployment rate is 26 percent, and growth is estimated to be about 1 percent this year. The government contends things are better, said Pedro Gonzalez, a former shopkeeper who now drives a taxi, but the people haven’t seen it. “There are no jobs,” he added.

But that looks like an opportunity to investors who believe the market will truly take off and want to get in before it does.

“It’s crazy the number of investors coming in,” said Fernando Acuña, co-founder of Aura, a start-up real estate advisory firm in Spain, as he toggled between multiple screens dissecting data in the residential real estate market and showing the uptick in Google searches for “comprar piso” — “buy an apartment” — in his bustling office on Madrid’s fashionable Almirante Street.

Small firms like Mr. Acuña’s, midsize investment banks in Spain and global banks in London are buzzing with investors looking for different ways to play the real estate market, by buying apartments or office buildings, scooping up loans from Sareb or the banks themselves, creating pools of capital to buy real estate assets or buying servicing platforms, which give the private equity firms that own them the ability to manage their assets as well as critical market intelligence.

Belén Romana, chairwoman of Sareb, said the number of investors — around 50 — who turned up for the first auctions surprised her. They were aggressive, she said. “It was early and they thought they could make a killing.” They pushed her to move fast and do deals. “They wanted to sit in a dark room and do a bilateral deal,” she said. She refused. Auction processes were put in place, with data rooms for deal teams and deadlines for nonbinding and binding deals.

In 2013, Sareb sold €1.5 billion of the €51 billion in assets it was created to sell. Of the €51 billion, about 20 percent is real estate and 80 percent are loans. Ms. Romana said the agency bought the assets at discounts of 40 percent to 80 percent.

Unfinished homes in Cancelada, Spain. The nation’s economy continues to struggle, with the unemployment rate at 26 percent.Jon Nazca/ReutersUnfinished homes in Cancelada, Spain. The nation’s economy continues to struggle, with the unemployment rate at 26 percent.

There is a lot to sell. Sareb aims to sell nearly 10,500 assets this year, and the top six Spanish banks hold an additional €159 billion worth of real estate and development loans, according to a Goldman Sachs research report.

Catalunya Bank has just received bids for Project Hercules, a €6.95 billion portfolio of residential home loans, 43 percent of which are nonperforming, or overdue by at least 90 days. The bidders are a who’s who of private equity: Blackstone and TPG are competing against teams of Goldman Sachs and Cerberus; Apollo and Centerbridge; and Deutsche Bank, Pimco and Marathon, according to a person briefed on the sale.

Commerzbank recently sold €4.4 billion of loans backed by commercial real estate in a separate deal called Project Octopus, in which Lone Star and JPMorgan Chase beat out Blackstone and Deutsche Bank. The price was not disclosed but market participants said the sale was made at close to a 30 percent discount.

In February, a Socimi, or Spanish real estate investment trust, came to market, raising $547 million. Two weeks later, Hispania Activos, another pool of capital, raised $763 million, with Paulson & Company, George Soros’s Quantum fund and Moore Capital as anchor investors.

Before Grupo Azora, the Spanish real estate company behind Hispania, decided in the early fall on an initial public offering, some of the bankers its executives spoke with wondered whether there would be ample demand. But by the time the deal was marketed, investors were jockeying to get a piece of the action.

“We generated demand of $2.3 billion,” said Juan del Rivero, chairman of Grupo Azora and a former Goldman Sachs partner. “In my 30 years of experience in investment banking, I haven’t seen a lot of books like that,” he said, referring to the process in which investment bankers take orders for a deal before pricing it.

More Socimis are in the pipeline, with at least one set to raise more than €1 billion.

Already the deal landscape is changing. While many investors want trophy commercial real estate assets, extremely few are for sale in prime areas of Madrid and Barcelona. Investors who hoped for 20 percent internal rates of return are now expecting 12 percent to 15 percent, and shifting their focus to residential properties, analysts said.

That shift suits Mr. Acuña of Aura very well. He has ridden the boom and bust of the real estate cycle and is gearing up for the next boom.

In 2006, Deutsche Bank hired him to build its mortgage business. When the market collapsed, he added the title of head of collections. In 2009, he started a business trying to sell repossessed houses for the banks and formed a database with 450,000 properties from banks and more than a million from private clients. When investors started calling and asked him for valuations of land, houses, buildings and portfolios, he started Aura to advise them and also to invest in the sector. Its website is in English because, he said, “all my clients are in Mayfair.”

“I think 2014 is the year we will see a lot of transactions,” he added.

Many worry that the competition for some assets and excess liquidity is driving prices higher.

“People are starting to overpay on certain assets,” said one investment banker who spoke on the condition of anonymity because he works with many of the funds active in the market. “There’s pressure from investment committees in London to do deals.”

One private equity executive said a recent auction for a mediocre office building attracted 30 bids. His company’s bid — which he said was fully priced — did not even make it past the first round.

Are prices too high? “That’s the million-dollar question,” said Javier Martinez-Piqueras, co-head of equity capital markets at UBS. “Actually, it’s the billion-dollar question.”

 

REFERENCE THE NEW YORK TIMES PUBLICATION


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Exceptional Video With William Shatner EquityBuild And Real Estate Investing Strategies

These Guys Are Just AMAZING and you can actually also read their eBook HERE if you have not already for FREE!  – -

DOWNLOAD REAL ESTATE INVESTING EBOOK FROM EquityBuild!

 

The Best Of Investing Radio Show From January 11th CEO of ListedBy.com Stephan Piscano

Best of Investing Radio Show January 11, 2014 guest Stephan Piscano

Stephan Piscano reviews the benefits of the site and a lot of exciting updates on the real estate industry

 

 

Real Estate 360 Radio’s Lori Greymont Interview With ListedBy’s Stephan Piscano

ListedBy Founder and CEO Stephan Piscano

In an extended interview on Real Estate 360 Radio, ListedBy’s founder and CEO Stephan Piscano shares key information about the online auction movement and discusses specifics related to ListedBy.com.

With transparency and low cost environments being key drivers for buyers and sellers to explore auctioning residential or commercial real estate assets online, Stephan, an accomplished property investor in his own right explains how the free business model can benefit both buyer and seller, and how it can create a new opportunity for the representing real estate agent on both sides to capitalize on the auction trend.

In the interview Stephan offers to listeners an extremely compelling and complimentary downloadable eBook on real estate investing that is helping new and established investors generate double digit returns.

Listen to the interview at http://bit.ly/1eckLl7.

 

How Much More Can Your Property Sell For?

Auction Can Significantly Boost The Sale Price Of A Property

How much more can I get for my property is a question that every home seller thinks hard about.

The answer of course depends on many things, including time of year that you plan to sell, if the market is hot or cold, and if you are prepared to do any renovations ahead of listing the house.

In a recent post in the LB Social Forum we listed the top ten features and upgrades you’d want to do and how much more buyers are willing to pay for each.

However, at any time during the year, working with your REALTOR to sell your home using the auction strategy can yield magnificent results.

Certainly the auction process must be handled and marketed well to start, as REALTORS do on any of the traditional deals they represent. That’s a must. All done right, it is not unusual for properties to sell for up to 10 percent, 20 percent or even more, than the reserve listing price.

That’s one good reason to list and sell via auction, versus going the traditional route.

If you are considering selling your property, speak with your real estate agent about auctions. Progressive sites like ListedBy.com cater to real estate auctions, be it distressed properties, REOs, traditional residential real estate auctions or public commercial auctions, completely free of charge for sellers, their REALTORS and buyers.

ListedBy Turns One

ListedBy Celebrates One Year

It’s exciting to mark a year since ListedBy.com launched. Like every startup with a big idea and certain resources to work with, we’ve had our ups and down and at the end of the day, made great headway.

We want to take the opportunity to thank all our community members, users and website visitors for their support and energy, our business partners for their confidence, and every member of our staff for painstakingly taking on more than they imagined they ever would under a single job title, and our leadership for their vision, perseverance and drive along the way, no matter what.

Property Portal Watch sums up ListedBy’s evolution quite nicely in an article published earlier today.

Thanks once again to all our friends and supporters. Onwards and upwards.

ListedBy Turns One

Property Portal Watch

By Gordana Davila on 3 May, 2013

in Company News

Spawned by Bay Area bulk REO specialist Stephan Piscano, who became frustrated with his own experience with the online real estate auction process, California’s ListedBy, the free online marketplace and social network with live bidding auction has turned one.

ListedBy made its debut last year, as a free online live auction, social network and services marketplace. The company saw a void in the market and felt it was time to launch a transparent online auction and property search arena where industry professionals, consumers, investors and service providers would be able to network, research, list and purchase real estate assets.

ListedBy managed to successfully merge the simplicity and effectiveness of a classifieds advertising website, with state-of-the-art live auction technology, to help accelerate sales and maximize asset value.

The company’s goal was to lift the secrecy off the real estate auction process, and to encourage wider participation from both buyers and sellers. ListedBy also aimed at eliminating typically restrictive costs including auction registration fees and share of proceeds, usually imposed on traditional auction venue, by having its marketplace be entirely free.

Stephan Piscano, ListedBy founder and chief executive officer, said that the company considers real estate professionals and service providers as critical success partners. Piscano gave as an example: “A listing agent on ListedBy is never overshadowed by another agent on his or her listing page, and leads are never collected and sold back to the listing broker or their competitors. We are working to build a thriving, positive community that benefits all our members.”

A short stroll down memory lane:

Soon after its launch, ListedBy announced the appointment of Roger Noujeim as Vice President of Marketing, to lead the company’s global marketing and branding strategy.

In June the company began publishing agent listings on their profile pages on ListedBy Social, the site’s networking system for real estate agents, service providers and consumers. In addition to the site’s property search area, the move strategically places agent listings in front of consumers researching local REALTORS® on ListedBy.com.

In July, ListedBy announced a co-marketing agreement with National Real Estate Business Insurance Group that will give to ListedBy.com members timely, convenient access to NREBIG’s deep national expertise and products.

Soon after ListedBy was featured in the Inman News™ Real Estate Connect® conference in San Francisco,  as one of the 12 companies in the Start Up Alley program.

A new online advertising campaign was launched by October, ‘Buy & Sell Real Estate With a Click,’ aiming to maintain ListedBy top of mind with recent visitors, and focusses on communicating the brand’s primary benefit of accelerating real estate buying and selling.

In December, ListedBy released ListedBy – Real Estate Auction Primer for Consumers, a ‘must-know’ guide for anyone looking to buy or sell real estate through auction.

Followed by the rollout of a self-managed search database which enables ListedBy users access to information on local real estate related services, and for service providers, free exposure and leads.

This past March ListedBy announced that, now its members are albe to publish and share feedback, recommendations and rate service providers listed on ListedBy.com, in real time.

One year later:

Now as a way of celebrating with all their users, ListedBy has sent out a message stating: “To thank you and celebrate all users today can get a FREE featured listing on the site by using promo code “ListedBy37″ upon adding your listing RIGHT NOW!”

Also, there is a special bidding for a an all expenses paid trip to stay in the ListedBy luxury condo in Las Vegas. The company stated: “We are doing this asa promotion to than our userbase and give you an opportunity to get exposure for your brand as a real estate pro!”

 

ListedBy Launches Real Estate Service Provider and Agent Ratings

ListedBy Service Provider Ratings

We’re quite excited to release the ListedBy Service Provider star and feedback ratings system. To those who excel in their profession, such systems put in the hands of the consumer is a welcome event and a new path to more business.

For those who do not desire such systems, it’s a path to challenging and boosting current practices.

As an industry as a whole, such systems will bring new levels of transparency that can only help further enhance public perception and professionalism.

Here is the full announcement issued to the press earlier today, for our readers’ convenience:

ListedBy Launches Real Estate Service Provider and Agent Ratings

ListedBy (www.ListedBy.com), the first free online real estate marketplace and social network with live bidding public real estate auctions and ‘Buy Now/Best Offer’ functionality now enables members to publish and share feedback, recommendations and rate service providers listed on ListedBy.com, in real time.

The system reflects ListedBy’s goal to provide its members with everything they need to be successful in real estate both before, and after the transaction. Registered users on ListedBy.com can use the site’s Service Providers area to research services and related companies by state, and now rate providers including real estate brokers and agents using a five star rating system.

Users can also offer detailed feedback and recommendations on the same page, and share their feedback through email and social media with a single click, including on Facebook, LinkedIn, Twitter and many others.

“From free access to rental and for sale property data, REO auctions and traditional listings, to clearly identifying the true listing agent and their contact information, to publicly displaying bids, bid history and bidders, to now agent and real estate related service provider ratings and feedback, ListedBy continues to move towards accelerating the real estate process through transparency and better access to information,” said Stephan Piscano, CEO and Founder, ListedBy.

“The time currently wasted at any stage of real estate buying and selling is unacceptable, as is the level of transparency on many real estate auction and traditional property portals, especially in this day and age. Everything that we do at ListedBy is designed to move the industry towards a higher level of efficiency,” added Piscano.

Concluded Piscano: “People who get exceptional service are always happy to spread the word. We’re introducing tools that make it easy for ListedBy members to share their experience and opinion, which benefits their service provider and works to drive higher levels of service in the industry.”

Service Provider pages on ListedBy have also been upgraded as virtual miniature Web sites, to further enhance service provider exposure and branding to ListedBy’s growing audience.

ListedBy launched its Service Providers module in January. The self-managed, self-populated free directory is designed to give ListedBy.com users convenient access to information on local real estate related services across the United States.

Traffic on ListedBy.com is expected to surpass 60,000 unique visitors for March 2013, with visitors spending an average of over five minutes on the site.

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Agent Responsiveness Remains Lax – Edge For Six Percent

Only One Out Of One Hundred Agents Answers The Phone

While the figure indicated above may not be statistically valid, it should nonetheless worry brokers and raise some flags. Mainly because it is based on a real, recent experience a close business partner of mine had when attempting to purchase investment properties.

Another reason for concern is that responsiveness has been an ongoing issue in the industry. Considering it is well known that one of every four consumers will do business with the first real estate agent they connect with, one would think agents across the board would have by now figured ways to bank on the statistic.

The story I’m about to share is actually scary.

This cash-ready investor was out to make several property acquisitions about four weeks ago, in different parts of the United States. During one morning, he called one hundred real estate agents (yes, ONE HUNDRED) to inquire about one or more of their active listings. The intent was in fact to place offers on the properties, not just ask questions.

The shock came when most of the calls went unanswered. You’d think that 75 percent of calls in any sales oriented business would be picked up. If that was your guess, you were wrong. In fact not 50, 40, 30 and not even 10 percent of the calls were answered. Only ONE out of the one hundred agents contacted that morning actually picked up the phone!

Now if that shouldn’t sound the alarm, not sure what will.

It gets worse though.

This buyer left messages to all 99 remaining agents clearly stating his wish to place an offer on a property. I repeat. He told the agents to call him back because he wanted to BUY their listing. Most were traditional for sale listings, others were REO auctions or regular residential real estate auctions.

Not to belabor the point, only five agents returned the call at some point that day.

This puts six percent of agents at a clear advantage over the remaining 94 percent, with only one percent set to truly clean up.

The difficulty in answering the phone in real estate remains a mystery and obviously an insurmountable challenge. But if the industry is to edge forward, someone has to figure this out.

Maybe it’s time brokers took a closer look at the issue – and perhaps a more active role addressing it.

One thing is certain though. Sites like ListedBy that allow buyers to instantly place offers online are a breath of fresh air and great time savers. But even these would only be of real value if agents are more click than phone friendly.

 

 

 

The Making Of A Millionaire – How To Benefit From Public Real Estate Auctions

You Eat An Elephant One Bit At A Time

You eat an elephant one bite at a time.

Often, having a clear vision and the courage to start working towards an opportunity is what stands between man and his or her ultimate goal. With a little bit of study and appetite for some risk, the goal may in fact be closer than one might think.

The first order of business is to spot the opportunity. The next order of business is to remove anyone from sight who’s job seems to discourage us from moving forward. This is frequently the reason why most people freeze. In his famous The Law of Success in 16 Lessons book, the success bible, Napoleon Hill specifically discusses how you must keep your chief aim shielded from others who are likely to challenge or resist it. Even your spouse. Take this as law in achieving the success that you want, even though it is contrary to all the modern guru teachings that you must publish your goals far and wide so you may be more committed to achieving them.

In real estate, an opportunity of a lifetime came to those who saw a buying window when everyone ran the other way in 2008, 2009 and even up until last year. Those who made the move and acquired as much property as they could, boarded or not, with spouse approval or not, are on a different plane now. We all know where these investments stand today. Up some 20-25 percent in the past year alone, in many states and cities across the US. They hopped on the Web and onto online auction sites to grab REO auctions, government real estate auctions, residential real estate auctions, commercial real estate auctions, you name it. Some flipped them right away while others rehabbed and held the assets for rental income with high annual cash on cash returns unlike we’ve seen for decades.

The biggest complaint circling the sector today is lack of inventory, especially distressed assets. Whether that’s in Detroit, Las Vegas or any other market.

The next time I come across a hot deal in Detroit or otherwise, boarded or not, shabby or not, I’m jumping on it. That’s just what I did earlier today, when opportunity presented itself. I bid on five residential properties in Detroit on ListedBy.com, going for just tens or mere hundreds of dollars to anyone willing to take on just a few thousand dollars of back dues taxes. A great deal if you ask me. At worst, the land will always be there for me or my kids to farm someday. Each will have their profiting strategy. Some will resell the assets immediately for a bit of profit, taxes still unpaid. Others will hold till values increase, then sell at that time, still passing due taxes to the next investor. Yet others might pay due taxes in order to obtain title insurance, rehab the properties and rent them for regular cash flow. That is, if the neighborhood and overall conditions are adequate, an insurance provider is willing to provide the service in the area, and the risk of another round of vandalism of the property has been well considered. Risks are out there and professional advice and due diligence on any investment is always necessary.

But first I must win those bids. Some astute investors seem to have spotted the same properties. Until then, I’ll keep scouting the site for more. Here great deals still do come by.

I also like it here not just because of my obvious bias towards ListedBy, but because I also don’t need to pay registration and technology fees like on most other auction sites. Nor do I have to contend with buyer premiums like most everywhere else. Here it’s all free. So each bite I take at my goal, goes further. In English? More dollars in my pocket to go towards buying more assets (with or without spousal approval), instead of handing them to the auctioneer.

There you have it. That’s one of my paths. I’m pulling ahead in the game of real estate just one small bite at a time, until the elephant is in the bag.