Redesigned Beverly Hills and Hollywood Hill Real Estate Website Goes Online

Seasoned Beverly Hills Realtor Scott Prather has just redesigned his website, making it an even better, more interactive resource for Beverly Hills houses for sale and real estate throughout Los Angeles.

                              Beverly Hills, CA (PRWEB) April 18, 2011

Boasting a fresh new look and video homepage, a streamlined interface and an enhanced selection of features and services, Realtor Scott Prather's website, http://www.ScottPrather.com, is back and better than even. The site has been redesigned so as to provide users with a better, more enjoyable online experience.

“The majority of home searches begin online these days,” says Prather, “but when you're looking for a home in Beverly Hills, you're not just going to need information about the property itself, you'll also want to learn more about the neighborhood, schools, and other important area details. You'll probably also want to know more about the unique home-buying and selling process here, financing, etc. This kind of complete information picture is what I strive to provide through my website.”

Prather, a fourth-generation member of a prominent real estate family, has been specializing in Los Angeles real estate and houses for sale in Beverly Hills, CA for the better part of three decades. His background, years of experience, and extensive network of contacts all combine to give him an edge over other real estate professionals in the region.

The redesign of Prather's website is a reflection of his ongoing commitment to continuously raise the bar in customer service. “Real estate is both an art and a science,” he says, “but most of all, it is about being of service to others.” The site now not only has a new, elegant design, it is also easier to use and has a comprehensive suite of tools and resources. This includes highly detailed listings of houses for sale in Hollywood Hills CA, a customizable property search feature, community resources, and guides for homebuyers and sellers.

“Whether you're looking for homes in Hollywood Hills or you want to ensure that you're pricing your home right and marketing it effectively, I am here to help,” says Prather. “Browse through my site to learn more about my services and the real estate market in the Los Angeles area.”

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Mohammed happy with real estate sector indicators

Shaikh Mohammed said he is satisfied with the promising positive indicators for the real estate sector in the emirate of Abu Dhabi in particular and the UAE in general.

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said on Sunday he is satisfied with the promising positive indicators for the real estate sector in the emirate of Abu Dhabi in particular and the UAE in general.

Shaikh Mohammed  said this while visiting the 5th Cityscape Abu Dhabi 2011 at the Abu Dhabi National Exhibition Center. He termed the situation as a source of confidence and optimism and bodes well for “our people and our society”.

He affirmed that the UAE will remain a trendsetter in various fields whatever challenges it faces, considering such challenges as a test of energies of the youths and national institutions.

Shaikh Mohammed stopped at stands of various developers and viewed an array of latest urban infrastructure developments and mega cultural, recreational, tourist and services projects being undertaken by those developers in the emirate of Abu Dhabi.

One of the region’s most premier events for the real estate industry, the Cityscape, will run until Wednesday.




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Cityscape Abu Dhabi opens in under one week

With less than one week to go until doors open, Cityscape Abu Dhabi 2011 aims to aid the restoration of investor confidence and knowledge at the region's most premier exhibition for the real estate industry.

Taking place from 17-20 April 2011 at Abu Dhabi National Exhibition Centre (ADNEC), Cityscape Abu Dhabi will be the largest gathering of real estate professionals in the Middle East so far this year and is being held at the Abu Dhabi National Exhibition Centre under the patronage of HH Sheikh Mohammed bin Zayed al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Going into its fifth consecutive year, Cityscape Abu Dhabi offer developers an opportunity to connect with the investors and end users, further understanding their aspirations. Understanding the need for more transparent processes and a steady stream of up to date information for property professionals, the exhibition Introduces local, regional and international projects to a global audience. The highly anticipated exhibition will host exhibitors from the region and across the globe, including Mubadala Real Estate & Hospitality, Al Qudra, the Abu Dhabi Urban Planning Council, Aldar, Baniyas, Sorouh, TDIC, ICT, DMA and Burooj.

Cityscape Abu Dhabi will welcome back a number of popular features as well as some brand new elements. Providing a platform for those involved within the market to network with those alike and potential business associates, Cityscape Abu Dhabi will offer a unique mix of face-to-face networking opportunities including the Investor Round Tables. These will offer an exclusive opportunity for leading institutional investors and developers to discuss hot sectors and partnership opportunities, as well as share strategy, within an intimate environment. There will be multiple Investor Round Tables running throughout the course of the exhibition, each with a specific focus on a key sector.

One of the exhibition's new networking initiatives is the Business Matching Service which gives participants the opportunity to pre-arrange meetings with industry colleagues at Cityscape Abu Dhabi. Giving direct access to exhibitors and visitors before the doors open, in the free dedicated business-networking lounge in Hall 3, the Business Matching Service offers everyone the opportunity to target and connect with new prospective business partners. Additional networking events will include the annual exhibitor cocktail party which provides an outstanding opportunity for international and regional executives to meet and network in a relaxed and informal atmosphere.

For More information Visit : http://www.ameinfo.com/261747.html

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Presidio Real Estate Chooses MRI Software to Manage its Commercial and Residential Properties

 San Antonio-based property management and real estate service provider Presidio Real Estate has made MRI Software its exclusive property management software provider. Following dissatisfaction with an “off-the-shelf” property management solution, Presidio returned to MRI upon the launch of CM Express, and was the first client to purchase the new software-as-a-service offering targeted to small- and medium-sized businesses.

Presidio Real Estate and its principals have specialized in residential and commercial property management and real estate services for over 15 years, focusing on managing clients' long-term needs. As a growing business providing management assistance for HOAs, commercial real estate managers, and investors, Presidio felt that the immediate benefits of CM Express fit its needs perfectly. “We were extremely pleased that MRI Software was able to customize a Commercial Management package to meet our accounting needs as well as provide the report formatting within our price point,” said Gloria J. Contreras, Senior Property Manager at Presidio. “This allows us to offer our clients an overall financial detail summary and budget forecast to manage their portfolios effectively. “

CM Express, launched in early December, is MRI's new Software-as-a-Service (SaaS) property management offering designed for growing commercial property management organizations. Packed with all of the robust features of MRI's core offering, including accounting, budgeting, and extensive reporting components, CM Express distinguishes itself by requiring no additional investment in hardware, personnel, or the other costs associated with an on-premise software implementation. Additionally, MRI's experts implement and configure the software so that it meets the needs of growing property managers like Presidio. Cleveland-based MRI has provided property management software to the global real estate industry for 40 years.

“In the current economic environment, it's especially important to provide maximum return on our clients' investments,” said Patrick Ghilani, Vice President of Global Professional Services at MRI. “We're delighted that our CM Express package meets the needs of growing property managers like Presidio, and I look forward to a long, successful partnership.”

About MRI Software, LLC.

MRI offers business management software solutions to the global property management and investment industries as well as to corporate real estate managers. As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the multifamily, commercial, and investment advisor companies, helping them improve their bottom line and maximize their returns on their diverse business portfolios. MRI leverages its 40 years in business to develop long-term successful relationships with its clients. For more information, please Click Here

Farm, services sector push economic growth

New Delhi: Driven by good performance of agriculture and services sector, the Indian economy grew by 8.2 per cent in the third quarter of the current fiscal, up from 7.3 per cent in the corresponding period a year ago.

According to the data released by the government on Monday, farm sector during the third quarter ending December, recorded a growth rate of 8.9 per cent, up from a decline of 1.6 per cent in the corresponding period a year ago.

The services sector, including financing, insurance, real estate and business services during the same period recorded a growth rate of 11.2 per cent as compared to 8.5 per cent during the same period last year.

Electricity, gas and water supply is another sector that has done well as it grew at the rate of 6.4 per cent in third quarter compared to 4.5 per cent in the same period last fiscal.

Mining and quarrying growth jumped to 6 per cent in third quarter from 5.2 per cent in the same three-month period last fiscal.

Manufacturing and construction activity has slowed down, growing at pace of 5.6 and 8 per cent cent, respectively, in the three-month period as against 11.4 and 8.3 per cent respectively in the corresponding quarter.

The government expects the growth to top 8.5 per cent in the current fiscal. The growth rate for the first and second quarters was unchanged at 8.9 per cent each.
Source: http://ibnlive.in.com/news/farm-services-sector-push-economic-growth/144632-7.html

Real Estate Repeats as the Top PPD Legal Services Request for 2010

ADA, Okla., Feb. 24, 2011 /PRNewswire/ -- For the second year, Real Estate Issues is the leading Pre-Paid Legal Services, Inc. (NYSE:  PPD) legal service request from among an estimated 2.1 million requests from PPD's members (customers) during 2010.

The 342,000 requests for the real estate-related legal service inquires, represents approximately 16.2 percent of the total estimated 2.1 million legal service requests for 2010.

Real Estate, Landlord/Tenant Issues and Foreclosure – The approximate 358,000 requests for legal services include residential and commercial real estate transactions, landlord and tenant issues and legal counsel related to foreclosure and short sales.

By category, the other top five legal service requests include:

Consumer Finance – Approximately 198,000 or 9.4 percent of total requests for legal services related to retail transactions for warranties, guarantees and other contracts;

Family Law – Approximately 188,000 or 8.9 percent of total requests for legal services related to divorce, child support, child custody and child visitation;

Traffic Issues – Approximately 187,000 or 8.9 percent of total requests for legal assistance related to moving violations, traffic tickets and auto accidents; and

Collections – Approximately 153,000 or 7.2 percent of total requests for legal services to support members against other parties and to defend members from third-party debt collectors.

Along with Real Estate Issues, Consumer Finance and Family Law held the same respective positions in the 2009 legal service ranking, while Traffic Issues rose to the fourth position in the 2010 ranking. Collections fell to the fifth position in the 2010 ranking compared its fourth position in the 2009 ranking.

The top five legal service requests, totaling an estimated 1,068,000 requests, account for approximately 50 percent of the total legal services requests for the year. In addition to the top five legal service requests for 2010, Pre-Paid Legal Services provider law firms provided legal counsel on other major legal service requests including: 6) Estate Planning (approximately 150,000 requests), 7) Employment (approximately 118,000 requests), 8) Criminal violations (approximately 100,000 requests), 9) Civil Litigation (approximately 92,000 requests) and Bankruptcy (approximately 72,000 requests). The remaining 2010 legal service requests, an estimated 500,000 requests, were for a variety of legal issues and legal consultation requests.

Charles Willinger, Jr., a founding member of Willinger, Willinger & Bucci, P.C. (http://www.wwblaw.com), the PPD provider law firm for Connecticut, says there is clear pattern within the ranking of top legal service requests for 2010.

"People lose a job, then they lose their house and then, sometimes, even their family," Willinger said. "It's like the proverbial house of cards. One problem leads to another and they all begin with the pocketbook," he said.

Willinger, Willinger & Bucci, P.C., based in Bridgeport, Connecticut, has been the PPD provider law firm for Connecticut since 1999.

Davis Miles, PLLC (http://www.davismiles.com) Partner and Co-Founder Charles E. Davis says PPD's national ranking of top legal service requests is consistent with the annual ranking of legal service requests at Davis Miles.

"This list reflects the legal service needs of average Americans, and while there may be some variation in the ranking from month to month or year to year, the legal issues remain consistent," Davis said. "The real difference, as I see it, is that the Pre-Paid Legal Service member has a means and an opportunity to deal with these issues before they become insurmountable problems."

Davis Miles, PLLC, based in Tempe, Arizona, has been the PPD provider law firm for Arizona since 2004 and the provider law firm for New Mexico since 2008.

Richard A. Campbell, a partner with Deming, Parker, Hoffman, Campbell & Daly, LLC (http://www.deminglaw.com), says it is no surprise that Consumer Finance, including issues related to warranties, guarantees and contracts, is among the top legal services requests for 2010.

"During the past year, we've seen more incidents where companies are denying claims to customers for questionable reasons," Campbell said. "This is particularly true with respect to insurance claims, and given the state of the economy, it's no surprise," he said.

Deming, Parker, Hoffman, Campbell & Daly, LLC, based in Atlanta, Georgia, has been PPD provider law firm for Georgia since 1990.

Source:  http://www.prnewswire.com/news-releases/real-estate-repeats-as-the-top-ppd-legal-services-request-for-2010-116804618.html

Abu Dhabi residential rentals drop 10%

The residential market in Abu Dhabi did not see any major increase to supply in Q4 2010. While the market continues to experience an overall under-supply based on the number of households relative to units, said a study released on Sunday.

Average rentals declined between 5 per cent to 10 per cent during fourth quarter, according to the report titled "Abu Dhabi Real Estate Market Overview - Q4 2010" by Jones Lang LaSalle.

The lower to mid-market segments of the market remain significantly under supplied, the report said.

A further 23,000 units are scheduled for completion during 2011, bringing total supply to around 208,000 units. In reality, some of these projects are likely to experience further delays.

While developers, the report said, in Abu Dhabi have scaled back many projects since the market correction at the end of 2008, the additional supply entering the market is generating an oversupply situation for most asset classes.

Consequently, average rentals and sale prices continued to decline in most sectors during Q4 2010, it said.

Market conditions in Dubai continue to have a negative impact on Abu Dhabi due to the inter-relationship between the two markets, the report added.

It said other than selective relationship lending, liquidity remains tight and many developers continue to experience cash-flow issues.

No major new supply has entered the office market in Q4 2010. Several large-scale projects are expected to be delivered in 2011, increasing the office supply by more than 25 per cent.

Quoted rental prices have decreased from the previous quarter with few transactions occurring.

New supply has entered the retail market in Q4 2010 with the full opening of Dalma Mall in Mussafah. There remains a shortage of quality space, with occupancy rates of more than 95 per cent being achieved in high quality centers.

Rental rates have remained stable over the past year in major malls, but asking rents have decreased significantly for upcoming malls outside Abu Dhabi Island, it added.

Supply continues to outpace demand in the hotel market. Abu Dhabi continues to develop its leisure offering, with the opening of Ferrari World on Yas Island in Q4.

Average room rates and hotel occupancies have declined significantly during 2010, with occupancies below 60 per cent (year to November) for the first time in more than 5 years.

The market is witnessing a widening gap between tenant and owners rental expectations, which is reducing the level of leasing activity.

Some tenants are seeking to renew for short periods on the assumption that the market will move further in their favour during 2011, it said.

Tax value's role in house sale is subtle

 Charlotte real estate agents are telling homeowners their new tax values shouldn't be a big factor in selling or buying a house. But they can play a role - especially if the values have fallen.

The Mecklenburg assessor's office mailed 2011 revaluation notices for about 297,500 single-family houses and townhomes this week. About 63 percent climbed over their 2003 values and almost 1 in 10 were up by 50 percent or more, an Observer analysis shows.

It's the first countywide mass appraisal in eight years, and many homeowners have expressed shock and frustration over values they think are too high - or too low.

Joe Clorite, a Keller Williams agent, said he expects that some of the falling home values will help convince homeowners looking to sell that high asking prices are unrealistic.

"It actually helps us and verifies we were right if we haven't been able to convince them," he said. "It makes it easier for them to swallow."

He said the clients he's contacted so far saw their assessed home values fall, which confirmed his suggested prices.

On the other hand, Clorite said, valuations that rose sharply could spark sellers to question why they're not asking for more money.

Derrick Thomas saw his value fall, but it won't affect his asking price for a one-story, vinyl-sided home in northwest Charlotte's Windy Ridge neighborhood. The area has been plagued by foreclosures, and assessments plummeted as much as 45 percent.

Thomas' house value fell to $58,900 from $106,000 in 2003.

But he said he never expected to get anywhere near the 2003 value for the house, which he and investors bought last year in a foreclosure sale for $33,000. "We went by what other homes here are selling for. We've got it priced at $69,900," he said.

Thomas said he thinks the drop in assessed value should help him sell, because he'll be able to tell buyers that property taxes will likely drop by about half from about $130 each month.

Pat Riley, president of Allen Tate Real Estate, said he doesn't expect the change in assessed values to shake up the housing market.

"I don't think it's a big event," Riley said. "All in all, I think they did a pretty good job."

Aiming at fair market value

The county aims to estimate fair market value as of Jan. 1. The practical goal is to come within 5 to 10 percent of that value, says county revaluation team leader Chuck Hicks.

The revaluations are required by state law so homeowners can pay a fair share of property taxes based on what their land and buildings are worth.

The most important appraisal in buying and selling a house, real estate agents emphasized on Thursday, is done by a licensed appraiser for a fee.

That individual appraisal is required by lenders and helps them decide how much to loan on a property. If the fee appraisal is less than the buyer's offer, lenders often base their loan on the appraisal's lower price. The buyer has to come up with the difference.

Jonathan Osman at Keller Williams Realty SouthPark is hearing about assessed values that are all over the map. Most of his sellers have called in unhappy about big increases in south Charlotte. "Most would love to sell at those prices; some ... tried and failed."

He cited a recent home sale in Eastover. "Closing price was around $740,000 and the new tax value of the home is $1.4 million."

Osman doesn't think the county's values play much role in home sales because they're mass appraisals: "It's not like they sent somebody in your house and did a true market analysis."

Housing market has suffered

Sandy Coyer, a Keller Williams agent in the Lake Norman area, said she thinks values there have risen fairly. She said she hasn't seen any completely off-base increases, but hadn't looked at all of her listed properties Thursday morning

"The people that are getting an increase are saying, 'Hey wait a minute, I thought the market was bad,'" she said. Even though the housing market has suffered in recent years, people aren't taking into account the rise in prices for much of the decade in Charlotte.

One way the county's new values play a role is when a buyer wants to know what the property taxes are. The real estate agent usually posts that information with listings on the Multiple Listing Service. Home flyers often advertise a price as "below tax value."

Coyer hasn't ever had a sale derailed because of potential property taxes and doesn't expect that to become a problem. Buyers who look at high-priced properties usually can handle the taxes, and those moving from the Northeast or Midwest are often pleasantly surprised by relatively lower rates, she said.

Brian Augustine, a real estate agent for Elite Team Properties, which specializes in prestigious neighborhoods like Myers Park, said most of the clients he's talked with have seen huge valuation jumps that don't reflect what they could actually sell their house for.

Big Credit Unions Banking Again on real estate Loans

Local credit unions are beginning to return to commercial real estate lending, a business line that was all but abandoned by many lenders during the recession.

Lockheed Federal Credit Union, the second largest credit union in Los Angeles County, began offering commercial real estate loans last week for the first time since 2006. The move comes just months after Kinecta Federal Credit Union, the largest, resumed real estate lending after a yearlong hiatus.

While many commercial banks remain hesitant to expand their loan portfolios due to regulatory pressures and a continued perception of risk, the return of the county’s two biggest credit unions to the marketplace will likely encourage its competitors to do the same.

“As we’re seeing this stability set in now in 2011, credit unions are feeling more comfortable branching out or expanding the lines of business that are available to them,” said Daniel Penrod, an analyst for the California Credit Union League, an industry trade group.

While credit unions have not historically been major players in commercial real estate financing, a number of larger institutions have offered loans of as much as a few million dollars to acquire office buildings, retail stores, apartment buildings and other large projects – though they tend to stay away from complex or unusual properties.

However, some analysts are concerned that credit unions, despite a conservative reputation, may be taking on more risk than is prudent by venturing into a commercial property market that they believe remains unsettled. The market is still suffering from a combination of high unemployment, falling property values and tightened lending standards, resulting in widespread borrower defaults.

Recently, there have been signs of a possible rebound, including stabilizing office vacancy rates in Los Angeles. But there are major concerns about the impending maturities of a high volume of loans originated during the boom.

Bert Ely, a bank analyst in Alexandria, Va., noted that many banks have yet to return to commercial real estate, which should give credit unions pause.

“It actually gets kind of scary if the credit unions jump in where the banks fear to go,” he said.

Back in the game

It’s unclear how many of the county’s roughly 170 credit unions offer commercial real estate loans, but only a dozen or so have sufficient size to do so in any real volume.

John Bretthauer, senior vice president of commercial lending for California Credit Union in Glendale, said the number of active lenders is much smaller than it was prior to the recession. His institution stopped making commercial real estate loans in 2009 and has no plans to resume.

“Most of the credit union industry is shrinking their assets,” Bretthauer said.

To officers of Lockheed, though, the timing feels right.

The Burbank credit union has not offered commercial real estate loans since 2006, around the time the overheated market reached its peak.

In the subsequent crash, Lockheed, like many lenders, sustained losses on loans made to commercial real estate borrowers. The institution, which has $2.9 billion in assets, has foreclosed on five commercial properties over the past two years. It had $40 million set aside at the end of last quarter to cover all loan losses.

Many credit unions that offered commercial real estate loans stopped during the recession, either to tend to losses in their portfolio or because a decline in overall lending meant their assets were shrinking, which pushed them up against a regulatory cap on commercial lending. According to federal guidelines, credit unions’ commercial loans cannot exceed 12.25 percent of total assets.

Why buyers and sellers of real estate should work with a 3rd party?

 
Building owners should utilize a third-party intermediary or brokerage firm when selling their properties in order to achieve the highest possible price for their real estate, while ensuring that their long-term investment and wealth strategies are executed. At this juncture, sellers are facing declining but slowly improving property values in many markets nationwide. Those values, combined with historically low interest rates, make it an opportune time to buy real estate. Now more than ever, sellers require the knowledge of a market expert who understands how to achieve the highest price per square foot, while maintaining the investment goals of their clients, all while having superior knowledge of the submarket in which a property is located.

The key to maximizing value for the seller is the ability of the agent to create a market for each asset. The primary driver to a competitive bidding environment is broad exposure. With the right representation and marketing, an agent will provide a professional package with defensible underwriting to a large universe of qualified buyers. The result is usually a number of offers from which the seller can decide which best meets their objective with regards to price and terms.