Day: December 1, 2020

HOME FOR SALE

How Joe Biden’s housing policy threatens real-estate investing

2 months ago
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  • President-elect Joe Biden’s proposals loom ahead of his January inauguration, and real-estate investors are likely to be affected by his plans.
  • Biden’s housing plan suggests big changes lie ahead for the real-estate industry, including with regard to foreign investment and affordable housing.
  • One major point that concerns real-estate investors is the suggestion of a repeal of the 1031 transfer, a strategy they often use to defer capital-gains tax.
  • Visit Business Insider’s homepage for more stories.

Joe Biden has been elected the 46th president of the United States. And as he approaches taking office on January 20, his policy proposals suggest some big changes, especially for the real-estate industry, per his housing plan.

Ultrawealthy real-estate investors, middle-class homeowners, and renters in underserved communities, for a start, stand to have their experience with real estate changed by a Biden administration.

Real-estate investors, in particular, aren’t receiving the proposed changes well.

The Biden

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FORECLOSURE HOMES

Nate Paul properties sold in foreclosure sale

2 months ago
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AUSTIN, Texas — A number of properties owned by Nate Paul and World Class Property Company have been acquired during a foreclosure sale in Travis County, according to a report from KVUE’s news partners at the Austin American-Statesman, by a lender owed about $22 million in delinquent debt.

The Statesman reports that the loss of properties is a sign of more financial troubles to come for Paul, a local entrepreneur who has been at the center of the controversy surrounding Texas Attorney General Ken Paxton. 

In early October, seven senior aides filed a criminal complaint against Paxton, claiming abuse of power, bribery and more linked to his dealings with Paul.

The Stateman report states that since late last year, lenders to Paul and World Class have attempted to foreclose on a combined $258 million in what they say are overdue loans made to more than 24 Texas-based real estate entities

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FOR SALE BY OWNER

6666 Ranches up for sale, says Lubbock brokerage firm

2 months ago
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After  150 years under the ownership of the Burnett family, the three properties of the 6666 Ranch are up for sale, according to Lubbock brokerage firm Chas. S Middleton and Son.

Sam Middleton, the broker handling the sale, said Tuesday the ranch is being sold in accordance with the will of Anne Burnett Marion, the owner who died in February of 2020.

Marion was the granddaughter of legendary Texas cattleman Samuel Burk Burnett, who founded the 8 ranch at age 19 with 100 head of cattle, before expanding operations into the Texas Panhandle.

The flagship Four Sixes Ranch in King County boasts 142,372 acres, with over 140,000 being native pasture and 1,000 acres for cultivation. 

The land comes along with the original family home on the property, built in 1917 and still standing today. 

Middleton and Son lists the asking price for the flagship property at $192,202,200.

The Dixon Creek

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HOMES

Activists Drop Body Bags Outside Homes of Mitch McConnell, Lindsey Graham, to Protest Congress’ Failure to Pass Stimulus

2 months ago
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Activists left body bags outside the homes of Senate Majority leader Mitch McConnell and South Carolina Senator Lindsey Graham Tuesday in protest of Congress’ failure to pass a second stimulus deal.



a person wearing a suit and tie: Senate Majority Leader Mitch McConnell (R-KY) and Sen. Lindsey Graham (R-SC) arrive for a meeting with GOP Senators in the Hart Senate Office Building on Capitol Hill, May 19, 2020 in Washington, DC.

© Drew Angerer/Getty
Senate Majority Leader Mitch McConnell (R-KY) and Sen. Lindsey Graham (R-SC) arrive for a meeting with GOP Senators in the Hart Senate Office Building on Capitol Hill, May 19, 2020 in Washington, DC.

The activists were from Spaces in Action and Shut Down D.C., two groups that joined together to create the displays.

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Spaces in Action shared a video of the groups at work on Twitter, mentioning the estimated death toll of Americans who have died from COVID-19 since the pandemic began in March.

“Over 270,000 are dead and @senatemajldr Mitch McConnell is still blocking a vote on COVID relief. Blood is on his hands, and this morning, we joined @ShutDown_DC to bring the

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HOME VALUES

Fantasy Football Week 13 Trade Values Chart

2 months ago
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dalvin-cook-vikings.jpg

What is the Trade Values Chart? Since its creation in 2011, CBS Sports has been the home of the original Fantasy Football Trade Values Chart, designed to help guide you in making fair trades in your non-PPR, PPR and SuperFlex/2QB leagues. Values are determined by expected future performance, future schedule and public sentiment, not past performance. 

The values assigned to the players below are a long-term measurement of their Fantasy value. By adding two players’ values you could determine what one player you should be able to get in return. However, Fantasy managers should take off 20% of the value in any trade where one side has two or more players than the other. Any player not on the chart should be considered valued at no more than four points.

More Week 13 help: Cut List | Waiver Wire | RB Preview | QB Preview | WR Preview | TE

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HOME FOR SALE

Four Shifts Shaping The New Reality Of Office Real Estate

2 months ago
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Dan Zakai is the Co-Founder and CEO of Mindspace, a global provider of boutique flexible spaces in 16 cities across Europe and the U.S.

There were changes afoot long before Covid-19, but the pandemic has truly upended everything we know about what it means to work in an office in the modern age. Nearly 50% of the 32.6 million U.K. workforce are now working from home, compared to 1.7 million adults before March 2020. After more than half a year of living with Covid-19, we can confidently say that people have experienced what it is like to have worked productively from home, commute-free. Yet many people are referring to the workplace (r)evolution in a binary way. In other words, it’s the office versus work from home. I don’t think that’s correct, as what’s clearly missing is also being questioned: connection, collaboration and creativity.

This shift has sent shockwaves

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FORECLOSURE

Nate Paul loses some Austin properties to foreclosure – Business – Austin American-Statesman

2 months ago
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Nate Paul is starting to lose pieces of his real estate empire.

A handful of properties that had been controlled by the Austin businessman and his company, World Class Property, were acquired during a foreclosure sale at the Travis County courthouse on Tuesday by a lender owed about $22 million in delinquent debt.

The loss of the properties — which include the downtown site that was at one time home to Carmelo’s Italian restaurant — represents just the tip of the iceberg in terms of the potential financial woes facing Paul, who also is a central figure in an ongoing controversy regarding allegations of corruption against Texas Attorney General Ken Paxton.

Since late last year, lenders to Paul and his company have tried to foreclose on a combined $258 million in what they contend are overdue loans made to more than two dozen Texas-based real estate entities that Paul controls,

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LAND FOR SALE

What should I tell potential buyers about my property?

2 months ago
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I’m selling the family home we’ve lived in for the past eight years. It’s a great place, and there are plenty of reasons someone would want to buy it – but of course, every property has the usual wear and tear and quirks. Is there anything I’m obligated to tell the buyers, or is the obligation on them to do whatever due diligence makes them feel comfortable?

When thinking about what to tell buyers about your property, it’s a good idea to flip things around. Ask yourself, “What I would want to know as a potential buyer?” Put yourself in their shoes – just as you were eight years ago when you were the one putting an offer in on the place.

It’s important that you work closely with your real estate agent and tell them about any issues, defects or problems with the property.

Belinda Moffat says when thinking about what to tell buyers about your property, it’s a good idea to flip things around ask yourself: “What would I want to know as a potential buyer?”

Supplied

Belinda Moffat says when

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FOR SALE

New Blood Test Claiming to Help Diagnose Alzheimer’s Disease Is Now for Sale

2 months ago
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A company has started selling a blood test they said they believe can help diagnose Alzheimer’s disease, but some people worry about the repercussions of receiving such monumental news if it happens to be false.

The test, from C2N Diagnostics in St. Louis, has not yet been approved by the U.S. Food and Drug Administration. The test works by measuring two types of amyloid particles plus various forms of a protein that reveal whether someone has a gene that raises risk for the disease. It’s reportedly not to be used on people without other symptoms, but is aimed at older people who have been having “thinking issues,” the Associated Press reported. 

Tammy Maida told the AP that the test could have spared her from endless visits to doctors from practitioners who kept saying that her symptoms were linked to depression, anxiety or menopause. A $5,000 brain scan last year finally

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FLORIDA REAL ESTATE

Eagle Arc Buys Two South Florida Nursing Facilities for $36M

2 months ago
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Elliott Mandelbaum with 7900 Venture Center Way in Boynton Beach and 600 Business Park Way in Royal Palm Beach (Linkedin, Google Maps)

Elliott Mandelbaum with 7900 Venture Center Way in Boynton Beach and 600 Business Park Way in Royal Palm Beach (Linkedin, Google Maps)

New York-based real estate investment firm Eagle Arc spread its wings with the purchase of two South Florida nursing facilities for $36.41 million.

The company, formerly known as BM Eagle Holdings, bought the 99-bed Boynton Health Care Center near Boynton Beach for $16.46 million, according to records. The skilled nursing facility is at 7900 Venture Center Way.

The Boynton facility charges $370 per day for a semi-private room, according to records. In June it was fined $3,000 for lacking paperwork related to its emergency management plan.

Eagle Arc also bought the 120-bed Royal Palm Beach Health and Rehabilitation Center at 600 Business Park Way in Royal Palm Beach for $19.95 million, according to records. The daily rate there is $295. Both nursing homes are for-profit.

The sellers are

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