Lee and Associates Closes $9 Million Industrial Sale Near Santa Barbara Waterfront

SANTA BARBARA, Calif. - Lee & Associates, one of the nation's leading commercial real estate providers with regional and local expertise, has closed a $9 million sale transaction for a 47,411-square-foot industrial property located at 25 E. Mason Street in Santa Barbara, Calif. At $190 per-square-foot, the building is less than a quarter mile from the city's pristine waterfront.

Locally known as the "Funk Zone" for its make-up of primarily industrial properties, this area of Santa Barbara has recently attracted a mix of artists, galleries, wine tasting rooms and locally-owned shops to open storefronts. In turn this has drawn tourists to the lower end of State Street, which connects the city's bustling retail corridor to the beautiful waterfront.

"This section of State Street has been struggling for several years," said Stephen Leider, Managing Principal of Lee & Associates – Central Coast. "The Mason Street sale will be an integral part of the area's ongoing revitalization."

The three-story building at 25 E. Mason Street has roof access with ocean views. The existing tenant, Brooks Institute of Photography, a well-known and prominent film, graphic design and photography school, currently occupies two-thirds of the building.

Clarice Clarke and Stephen Leider, both Principals in the Central Coast office represented the buyer, East Mason SB, LLC., and the sellers, Rossi Trading Company, LLC. and Scanlin Family Trust, in the transaction.

About Lee & Associates

Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 45 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.

About Press Release Distribution

This release is distributed in part by Press Release Distribution Associates, specializing in real estate press releases. For information on property management check out property management in Cupertino.

Cupertino Property Management Firm Says Low Vacancy Rates Increasing 2012 Investor Demand

CUPERTINO, Calif. - Cupertino property manager Jerry Garrity of First Statewide Realty sees continued low vacancy rates in the Silicon Valley boosting investor demand in the region's real estate market.

Garrity, whose Cupertino property management firm has helped real estate investors' portfolios survive and grow through three decades and five recessions, says the rental market is expected to stay strong through 2012, because there are still more backlogged foreclosures coming on the market from banks.

"Now that the big banks have made a deal with the Justice Department on how to resolve backlogged foreclosures, there will be more owners forced into the Cupertino rentals market."

As a result, Garrity says investors have been taking up the slack by purchasing bank owned properties at low prices in a record-low interest rate environment.

"This is a market where I look around and see opportunities. The savvy investor who understands the value of having a professionally managed real estate portfolio can really grow their wealth during times like this."

He says the mistake most inexperienced investors make is thinking they can save money by self-managing their rental property.

"Property management services actually protect the investment, and over time, can increase its total cash flow, because we are experts in efficiency. From screening renters to maintaining the property, we take seriously our job of helping our clients maintain positive cash flow through the lifetime of their investment, even during recessions."

About First Statewide Realty

Jerry Garrity's First Statewide Realty is a seasoned expert in property management whose expertise has been featured in the Wall Street Journal and other publications. His Cupertino property management company specializes in managing single family homes, condominiums, townhouses and other investment property. Services are provided for all of Silicon Valley, including San Jose, Sunnyvale, Santa Clara, Campbell, Mountain View, Los Altos, Cupertino, Saratoga, and Los Gatos.

The firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.

Jerry Garrity
First Statewide Realty
20045 Stevens Creek Blvd.
Suite 2-D
Cupertino, CA 95014
Tel: 408-253-1000
Lic#: 01036982
Email: investments@firststatewiderealty.com
Website: http://www.firststatewiderealty.com

 

Real Estate Agent Technology Provider and Training Company Praxius Showcases Boston Real Estate Site

BOSTON, Mass. - Real estate agent technology services provider and web marketing training company Praxius Technology is showcasing its real estate marketing services in the Boston area with its Boston-focused website, http://BostonMARealEstate.com.

The site, which includes an easy to use MLS search engine for homebuyers to find current Boston real estate listings, has over 16,000 pages indexed on Google to date, including pages with constantly updated listings for Allston, Back Bay, Brighton, Charlestown, Dorchester, Hyde Park, Jamaica Plain, Mattapan, Roslindale, Roxbury and West Roxbury.

Fred Doleac, President of Praxius, says the website features only fresh data on Boston area homes, unlike the big-name national websites.

"Home buyers that go to the heavily advertised national websites to search for real estate are usually disappointed by stale listing data. Many of the homes listed for sale on those sites have old prices or are already under offer."

He says it's much more productive to search on a local site that is updated directly from the MLS.

"When listing data on Boston homes for sale gets updated by agents, it is reflected within 24 hours on our site."

Doleac says that the site's timely information about Boston area homes means clients don't waste time researching listings that are no longer available.

"There's nothing more frustrating as a buyer than to spend time chasing homes that are not really available. BostonMARealEstate.com solves that problem.

About Praxius

Praxius Technology is a leading real estate technology company with core competency in real estate website development, lead generation, and RESPA compliant lender/agent collaboration. Praxius is a division of Virtual Homes Real Estate, an independent New England real estate company with agents in 4 states.

Schedule a Webinar

Contact Praxius

Fred Doleac
Broker/Owner
Virtual Homes
55 Ponemah Road
Amherst, NH 03031
603-732-1800 or 800-856-2479
603-732-1817 Direct
Fax toll free - 888-884-0543
fred.doleac@virtualhomes.com

 

Oregon REALTOR® David Somerville Says Beaverton Will Continue To Attract Portland Commuters To The Area

PORTLAND, Ore. - Portland REALTOR® David Somerville says the Beaverton suburb of Portland will continue to attract commuters in 2012 due to lifestyle and real estate values.

With Beaverton homes for sale currently ranging from $130,000 to $4.5 million, there are plenty of choices available for would-be Beaverton residents, and all within less than fiftenn minutes of Downtown Portland.

Somerville says the convenient access to Portland with Beaverton's location off of Highway 26 (Sunset Highway) is one of the features that appeals to so many buyers, but the wide variety of homes in every price range also helps.

"The Portland real estate market broadly includes several outlying communities such as Beaverton, and commuters especially love it. It's less than 8 miles from the center of Portland, and you can buy a lot of house for the money in Beaverton."

He says Beaverton real estate values are particularly plentiful in the $250,000 to $400,000 price range, with an abundance of bank owned homes on the market affecting inventory levels.

"Buyers can currently get a lot for their money in Hillsboro. In the Portland MLS right now, I can find 2700 s.f. homes under $250,000."

Somerville says there may never have been a better time to get into the market for Beaverton homes.

"With the job market in Portland relatively stable and interest rates extremely low, it's hard to think of a better opportunity for first time home buyers or anyone wanting to buy a home to check out what's available."

About David Somerville

David Somerville is a full time REALTOR® with an extensive knowledge of the entire Portland Oregon metro area. His knowledge of local neighborhoods proves valuable to Portland real estate buyers and sellers alike, whether they are in the Downtown area, or suburbs such as Hillsboro, West Linn, Beaverton, Tigard, and Lake Oswego real estate.

David Somerville
5 Centerpointe Dr. Suite 150
Lake Oswego, OR 97035
503-789-7633
http://www.maxwellsinclair.com
dave@maxwellsinclair.com

 

Lee and Associates Closes $12 Million Industrial Transaction

FOUNTAIN VALLEY, Calif. - Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $12 million sale consisting of two industrial buildings located at 11161 Slater and 17375 Mount Herrmann in Fountain Valley, Calif. With both properties totaling 113,857 square feet, the transaction amount is one of the largest in Orange County this year.

Senior Vice Presidents and Principals Pat Lacey and Jim Snyder of Lee Newport Beach represented the seller, PPII, LLC, a private real estate owner based in Orange County. The buyer and existing tenant in both buildings, Seven Pacific, represented itself.

Seven Pacific, which will continue to occupy the two large industrial buildings, uses the properties for mechanical engineering, design, manufacturing and vehicle integration.

About Lee & Associates

Celebrating 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 45 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, New Jersey, New York, Nevada, South Carolina, Texas and Wisconsin. With a roster of more than 600 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com

About Press Release Distribution

Distributed in part by Press Release Distribution Associates, specializing in real estate press releases. For information on 25 Greenwich Road Smithtown NY see Smithtown Real Estate.

Damaged Credit The Norm For Home Buyers Says Albuquerque NM Real Estate Agent Joe Maez

Albuquerque, NM - Less than perfect credit is the norm for home buyers rebuilding their lives in the aftermath of the mortgage credit crisis, according to Albuquerque REALTOR® Joe Maez.

Maez says that it's increasingly rare for buyers to come to him looking to buy their dream piece of Albuquerque real estate with perfect credit.

"Most buyers today have been scarred by the craziness that has gone on in the mortgage industry in recent years, and in some ways, it's the new normal."

He says he regularly sees buyers turning their finances around to be able to buy a home again after a short sale, foreclosure, or just a period of unemployment that led to negative credit profiles. Those who are buying homes, he says, are working hard to fix past money issues with better savings plans.

"I encourage my clients to start early correcting past credit report errors, and most of all, make every credit payment on time consistently. With some time and distance between past negative items and current ability to pay, most people will be able to buy a home again in no time."

Maez coaches buyers who want to qualify for a home loan to pay down any credit accounts to below at least 50% of the credit limit. He says this is a key ratio that lenders look at, along with other factors such as income and on-time payments.

He says even former short sellers can buy again in as little as two years, depending on circumstances.

"If you're looking for any type of Albuquerque real estate in the area, including Corrales, Los Lunas, or Rio Rancho real estate, please give me a call."

About Joe Maez REALTOR®

Joe Maez is a proven real estate professional who knows how to do things right. Every day he is out there working to make the home-buying or -selling process easier for his clients. Regardless of which way the market has gone, Maez's sales have gone up every year. He says, “If you really do a good job, you’ll always have clients,” and his track record proves it.

Joe, who has personally sold more than 500 homes in Rio Rancho and Albuquerque, has unique and extensive knowledge of the local markets. He works regularly in the Albuquerque New Mexico market, covering Rio Rancho, Corrales, and Los Lunas Real Estate.

For more information, contact:

Joe Maez REALTOR®
Keller Williams Realty Westside
8100 Wyoming Blvd NE
M4 #234
Albuquerque, NM 87113
505-401-5775
joemaez@gmail.com

Historically Low Interest Rates Means Portland Real Estate is More Affordable For First Time Buyers

PORTLAND, Ore. – Continued easing from the Federal Reserve is driving historically low interest rates for Portland OR real estate buyers says local REALTOR® David Somerville.

According to Somerville, the Fed's attempts to revitalize the economy with low interest rates should be seen as a gift for anyone wanting to buy a home right now, because low interest rates significantly lower the cost and risk of buying a home.

"I know from experience that some buyers won't decide to purchase Portland real estate until interest rates start to rise again. By that time, prices are likely to have already started to rise as well."

He says that means buyers who wait too long may get neither the lowest rates nor the lowest prices.

"I've never seen the national average for interest rates this low at only 3.85%. Someone who buys a $200,000 home can have a mortgage payment of less than $1000. You can buy a lot for $200,000!"

Somerville sees more first time homebuyers and investors entering the market for Portland homes for sale as a result of lower interest rates.

"This is a great time to get into a new home, in my opinion. No matter what the Fed does in the future, I think we'll look back on this period as a great opportunity for buyers."

About David Somerville

David Somerville is a full time REALTOR® with an extensive knowledge of the entire Portland Oregon metro area. His knowledge of local neighborhoods proves valuable to Portland real estate buyers and sellers alike, whether they are in the Downtown area, or suburbs such as Lake Oswego real estate, Hillsboro real estate, West Linn, Beaverton, and Tigard.

David Somerville
5 Centerpointe Dr. Suite 150
Lake Oswego, OR 97035
503-789-7633
http://www.maxwellsinclair.com
dave@maxwellsinclair.com

Key West Real Estate Market Report Issued By Local REALTOR® Sean Farrer

KEY WEST, Fla. - Key West, Florida real estate agent Sean Farrer issued a real estate market report for the area based on recent sold statistics and trends he has observed in the market.

Farrer says that sales in 2012 are already starting off well.

"With our peak season already here, last month saw a total of 48 Key West real estate properties sold. Those were comprised of 25 single family homes, 22 condos, and a commercial property."

He says that contingent and pending transactions for December 2011 totaled 121 transactions, with a total of 438 active listings.

"The number of listings on the market is slightly lower than it would normally be, due to a shortage of inventory in certain price levels of the Key West Real Estate market."

Farrer says that with interest rates remaining below 4% for a fixed 30 year mortgage, the Key West area is seeing more home buyers, with a lot of FHA loans since the 3.5% down makes the down payment more affordable to first time home buyers.

"Many folks from out of town are very surprised at how affordable it is to live in Key West. We have a lot of snow birds come here for their cold season back home because our comfortably warm climate, but a good many of them decide to stay year round once they get used to the relaxed island lifestyle."

About Sean Farrer

Sean Farrer is an expert in the local Key West real estate market, covering Key West, Old Town Key West, Key Haven, Stock Island, Boca Chica Key Homes, Big Coppitt Key Homes, Bay Point, Sugarloaf Key, Cudjoe Key, Ramrod Key, Summerland Key, Little Torch Key and Big Pine Key.

Originally from South Africa, Farrer moved to the Florida Keys over 13 years ago. He enjoys helping folks who are looking for a dream home and an island lifestyle to find both in the beautiful Key West area. With previous careers in management and IT services, he is very organized with a dedication to customer service that shows in his work with Key West real estate buyers and sellers.

A buyer's time spent with Sean looking for Key West homes will be fun and productive, and he provides a wealth of insight on the best neighborhoods for price and lifestyle, regardless of age or income bracket. Farrer is an expert at helping out of town visitors buy a second home in Key West.

Sean Farrer
1201 #101 White St
Key West, FL 33040
305-924-0700
http://key-west-real-estate.net

2012 Orlando Real Estate Market To Be Active Says Orlando Florida Real Estate Firm

Orlando, FL - While global financial markets continue to express uncertainty, one Florida real estate firm says the 2012 Orlando market is almost certain to be an active one.

Jonathan de Jesus of Dominium Realty Group specializes in Orlando real estate, and says that market in the upcoming year is bound to be busy for local agents.

"We are likely to see a steady flow of bank owned homes and Orlando foreclosures come on the market, and although that could continue to pressure prices for sellers, it will continue to present buying opportunities for buyers."

He says that Orlando short sales are likely to continue to be a popular way for sellers to get their home sold when they owe more than their house is worth. These will also provide good opportunities for buyers to get pre-foreclosure homes before they go offline to linger in bankers' files for months during the foreclosure process.

With new home construction likely to continue to be at a standstill, the existing Orlando area housing market is going to be the strongest real estate sales category in 2012.

"The nice benefit of buying in Orlando real estate market is that Disney World will always be a magnet for world tourism. This brings a certain amount of price stability that other markets just don't have."

"Of course, the warm weather year-round certainly doesn't hurt!"

About Dominium Realty

Dominium Realty Group is a leader in residential real estate brokerage services in Florida with expertise helping U.S. and international clients navigate the Orlando real estate market. Through its experienced team of real estate professionals and their commitment to exceed their clients’ expectations, Dominium is able to confidently deliver solutions to meet the needs of any real estate client.

Included in the company's extensive array of specialized offerings are Dominium's expert property management services. With licensed specialists working close with investors, clients get the most effective property management possible for their real estate portfolios. Dominium agents are experts in the Orando market, including Downtown Orlando homes, Windermere Homes, Dr. Phillips Real Estate, Maitland, Winter Park, Lake Mary Real Estate, Baldwin Park, Metro West, Longwood, South Orlando, Kissimmee, Winter Springs, Oviedo, Lake Nona, Waterford Lakes, Altamonte Springs, Mount Dora, Sanford, Apopka, Winter Garden, and Ocoee.

For more information, please contact:

Jonathan De Jesus
Dominium Realty Group
6236 Kingspointe Parkway #10
Orlando, Fl 32819
407-588-7828
http://www.florida-real-estate.pro