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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

 

 

Piece On INMAN News Covers Video Communication – Will REALTORS Budge?

Video Is The Next Mega Trend

Just 20 years ago, which seems like yesterday, when anyone asked if I would be interested in buying my own laptop, my answer was not sure or, too expensive, or, why do I need one.

Then people started to wonder if they needed email. Most ignored it and today have more than one account. Sometimes four, five or even more.

The same happened with flat screen TVs, cell phones, and websites. Who would have wanted to have their own website just a few short years ago?

Then came blogging then social media – and a lot of resistance to both especially in real estate. Excuse from not being a good writer, to cost, to not being technology inclined.

Today, virtually everyone in the real estate business carries a cell phone, has their own website or web page, and has some sort of exposure on social media whether it’s on Facebook, LinkedIn or other online c0mmunities and groups.

The key point to remember is that those who adopted new technologies first, got an edge in business. Those who followed next got a chance to catch up. The laggards however held on to their old beliefs and resistance until the technology was about to overrun them (or did), they they scrambled as they are doing today with social media.

The next mega trend is video marketing and communication (see previous story with stats).

No one covers trends better than INMAN News Columnist Bernice Ross. http://www.inman.com/buyers-sellers/columnists/berniceross/how-jump-video-bandwagon

If you are a ListedBy.com member, do take the time to create video content especially of you and your REO auctions – and any of your listings, to add to the listing fields on the site. You’d be amazed with the impact when you do – and if you don’t.

Some Event Highlights for Us From The Inman News Real Estate Connect

WOW Inman News was the best that we have seen yet with some great moments and great feedback for ListedBy from users and some of the top industry pros!

Also never a bad thing to get to play a bit in NYC!

Here are a few observations and a few highlights from ListedBy’s CEO: 

Observations:

  • As my esteemed colleague noted, the industry is taking more and more of the home buying process online and seems to be a real drive towards completing transactions online and eliminating the paperwork nonsense that we have dealt with for so long.  This obviously was a big part of why we founded the ListedBy.com site. To allow users to not only research homes online but actually buy homes online, and we are excited to be a part of that for the industry as a whole.  Ideally we would like to incorporate a paperless system into our site that would perhaps make it even easier for our users to not only submit offers on homes online but actually complete the transaction. Who knows, we might have made a partnership for that at this event.=)
  • NYC is enjoyable and one heck of a place to go, but those stories that you hear about the airport at JFK are all true!

Highlights:

  • It was a pleasure for me to get to chat with a couple of industry rockstars in particular that had some sentimental value for me.  Won’t state their names as don’t have authorization to, but one CEO in particular still owns the site where I bought my first Detroit, MI property online that to some extent started the whole idea for creating the ListedBy site. It was great to chat with someone of his caliber for an hour and hear he actually really liked the concept of our site!  Also, great to see a few good friends and partners like Bill from Revestor, the boys from NuOffer, my main man Hector from Trycera (All great companies to check out) and many more.
  • We REALLY got some positive comments from a lot of the industry’s top agents about the website and saw that they really love the ability that ListedBy allows for them to have direct offers from the buyers, which allows them the opportunity to double their commissions by representing both parties.  Also, agents and users all loved the new and improved page for service providers where you can search services for free like you would on a servicemagic.com and other similar websites, but with us of course it is all for real estate management and purchases.
  • We once again had a helicopter to give away to one lucky user. Roger always tries to get it out of the box and fly it around, which sometimes results in the police being called. Luckily I was there to save him from himself!  Another personal note highlight for me is that we got to have a great dinner with a killer view of the city with my big guy Roger. It was nice to have a moment like that with a great business partner and friend to look at where we have come and where we hope to go with the site as we continue to grow.  As we all know, running startups and really any business has ups and downs, and takes a certain level of dedication. So moments like that, events like NAR Orlando and this one are really a big part of what makes it so enjoyable and rewarding, and why I am so thankful to all of you for using the site and allowing us to keeping putting out those 15 hour days to try and get better all the time.

 

 

To clarify, the gentleman noted in the photo there is Hector from Trycera, not Roger.

 

 

 

 

 

 

 

 

 

All in all it was exceptional and we look forward to being a part of many more events like this one in the future and hopefully seeing some of you there also. Who knows, you might win a helicopter, or even better, private dinner with me and Roger!

Stephan Piscano

CEO ListedBy.com

 

 

Observations From INMAN News’ Connect Conference NYC

The INMAN Connect conference in NYC just wrapped up. After three long, tiring and extremely productive days, what stays with us is how grateful we are for yet another opportunity to see and spend time with many of our long time business partners and customers. As well, all the new executive level contacts and subscribers who decided to join and try out ListedBy.com.

Not many conferences bring together decision makers with this intensity. The event was very well managed, so kudos to the INMAN team for a job very well done!

Some of our takeaways from the conference is that optimism amongst industry professionals and vendors of all types of solutions is at a high we have not seen for several years. That is extremely encouraging.

In addition to learning how to effectively use social media in real estate, there was clear interest in figuring how to more effectively manage multiple offers, specifically in this relatively hot market. With many Realtors telling us they closed over one hundred deals in 2012, what they are now interested in, besides more inventory of course, is increased efficiency in managing multiple offers and deals.

Certainly this made paperless oriented technologies more interesting and attractive, and it showed on the conference floor. We had extremely great feedback and support regarding ListedBy’s buy/sell online negotiations and public real estate auctions tool, as well as for the site’s free, advertising supported business model and the built-in social networking module.

To note was the realization by many top producers we spoke to that they can now rely on one of ListedBy’s productivity enablers, the live online auction tool, to manage incoming offers practically without lifting a finger or answering a single email. For those not familiar with ListedBy, strictly by allowing bidders to see who else is on the bid side and what the latest bid is at, multiple buyers move the process forward by increasing their bids directly through the system, without the listing agent’s personal involvement until the auction expiry (the date and time the agent sets for the auction to end).

Brokers also showed solid interest, underlined by commitment, to ListedBy’s broker solution. The solution allows a company to market its agents and listings more widely for free, but in a way where the agents get to receive not only leads and traffic to their sites, but also actual offers that they can accept, reject or counter with a click of the mouse while logged on to ListedBy.

Thanks again to everyone for all the new ideas and input, which in ListedBy land is of paramount importance and goes right into our planning for future upgrades and releases.

For those new to ListedBy, here is a How To Video series to help you get started. We look forward to working with you and to supporting you in any way we can.

INMAN Connect and Agent Reboot NYC – Jan 2013

The Grand Hyatt New York

A new year is just around the corner, and we’re already setting up to attend and exhibit at two of the real estate industry’s most powerful and energizing conferences, back to back.

ListedBy is sponsoring both Connect and Reboot in NYC, which will be held January 16-18, 2013 at the The Grand Hyatt New York. We will be showcasing the latest release of our free online real estate auction and ‘Best Offer’ platform, ListedBy.com.

As always, get ready for some amazing prizes from ListedBy, including the now famous Vegas luxury condo stay giveaway for four people! And after really great feedback at NAR in Orlando in November, we just might do the remote controlled helicopter giveaways again as well! Just drop by our exhibit to get in on the action.

We look forward to seeing many of our members and business partners in NYC, and to meeting many more real estate pros keen on adopting the latest technologies in their business. If you want to get exposure and learn about technologies that are truly making a difference in the real estate business, INMAN conferences are the events to be at.

If you haven’t yet registered to attend INMAN Connect or Reboot NYC, here is are the links:

Real Estate Connect: http://www.realestateconnect.com/nyc13/rates
Agent Reboot: https://register.inman.com/shop/Agent-Reboot-2013—New-York/

To view venue and travel information, here is another link: http://www.realestateconnect.com/nyc13/venue