Tag Archives: equialt

Helping Homeless Veterans in Tampa Bay, EquiAlt Donates Three Homes To Potter’s House Community Development.
When the real estate bubble burst and the subprime, mortgage, credit and hedge fund markets collapsed in 2008, Brian Davison, now CEO of Tampa-based EquiAlt, was one of the guys who got knocked down. In evaluating what was really important to him moving forward, Davison implemented a philanthropic mission to give back or assist others not as fortunate as he or his company has been. In carrying out his mission to his new home base in Tampa Bay, Davison announces that EquiAlt has donated three single-family homes to Potter’s House Community Development (PHCD). Two of the homes are located in Tampa and the third in Clearwater. The total donation is worth approximately $120,000. PHCD is commissioned to empower the people in our community though several ministries that target health awareness, illiteracy and strengthening the family. Their focus is to educate families in...
NEWS RELEASE: EquiAlt Launches Long Term Portfolio With 172 Tampa Bay Properties With Additional $4.5 Million Spent In Rehabilitation Funds To Improve Local Neighborhoods.
Throughout Tampa Bay – from the respective County Commission chambers to individual Mayor offices – revitalizing Tampa Bay to improve the lives of its residents is a major agenda item in 2015. While each will do its part, private business must also step up. As part of that mission, EquiAlt LLC (www.equialt.com) announces the purchase of its 172nd distressed property to help redevelop existing neighborhoods by converting neglected homes into livable assets. Initially launched in Las Vegas in 2008 and then in Tampa in 2012, EquiAlt is an alternative investment and asset management company specializing in opportunistic real estate through four SEC-registered funds. While common on the West Coast, real estate investing and acquisition by institutional firms has been rare in the Tampa Bay auction market. Until now. "Most of the public is aware of the traditional real estate market where homes...
Monthly Mortgage Payments Versus Monthly Rent
Not so long ago, the housing market ballooned so high that monthly mortgage prices were much higher than monthly rental prices. This disparity hasn’t been seen since the early 80s. Typically, as mortgage rates rise, rent prices also rise along a normal rate of disparity. These rates allow buyers or renters to decide whether they can afford the monthly mortgage rate, or would be better off with just renting a home. Usually, the mortgage rate will be higher than the rental rate. However, after the housing market crashed, mortgage rates fell so sharply that they were actually lower than the average rental rate. With so many calamities in the housing marketing, especially the high rate of foreclosures, many potential buyers opted to pay higher rents. The scary prospect of trying to own a home, alongside the risk of foreclosure, forced people to become or stay renters. However, the...
Boomerang Buyers Returning After Foreclosures
Chances are if you asked the estimated 5.3 million people who lost their homes during the real estate crisis if they thought they would ever be able to own a home again, their answer would probably be no. Seven years later, however, with their credit rebuilt or on the mend, some of these same former homeowners are re-entering the market. The comeback being staged by this category, also known as the boomerang buyer, is being driven by rising rents and a desire to own a home again now that the economy seems to be stabilizing. Experts see this growing trend happening in various markets across the country, with the most popular being Riverside-San Bernardino, California (4.1%), Los Angeles, California (3.7%) and Phoenix, Arizona (3.6%). Since California is one of the biggest indicators and predictors of what will happen in the housing market, this is good news...
Housing Market Hopes on the Rise
Last summer existing home sales reached a peak of 5.38 million, but according to the seasonally adjusted rate basis (SAAR) reported in January, they have since declined to 4.62 million.  This 14% decline has left the market feeling a bit weak, but there is some good news on the horizon, as many experts predict this weakness to be only temporary. What is causing the Weakness? There are several factors causing the ups and downs of the housing market. From increased mortgage rates and prices, to a decrease in available distressed sales and investor buying. Another theory being discussed among those is real estate, is the influence of the Polar Vortex, which has gripped most of the country this winter. With so many people not really being able to go outside because of bitter cold temperatures, it makes searching for a new home less of a priority. There may not...
What Do the Next Five Years Hold for Home Pricing?
The days of home prices reaching levels seen during the real estate bubble seems to be over. Though pricing in 2013 was down 20% compared to its 2006 summer highs, the S&P Index Committee did report that prices were up 23% from their March 2012 lows in both the 10 and 20 city indexes. While 2013 proved to be a banner year for the housing market, with an appreciation rate of 6.4 percent, experts do predict that prices will cool somewhat due to rising mortgage rates, less inventory and a lack of good bargains. In fact, most economist, real estate experts and real estate investment strategist predict a moderate annual rise in prices of 3.7% over the next five years. This translates to a cumulative change in home value of 19.7% by the end of 2018. This housing market pricing picture is based on a recent study...
Foreclosures are Still Selling in Tampa
Conventional housing prices might be on the rise, but according to RealtyTrac’s Year-End 2013 U.S. Residential & Foreclosure Sales Report, foreclosed or distressed homes still account for more than one in four of all home sales. One of the states where this definitely holds true is in Florida and more specifically in the Tampa/St. Petersburg/Clearwater area. In fact, Florida still leads the nation in foreclosures. In the Tampa area this means that about 30% of all homes for sale are priced 40% less than traditional properties. Since the process to sell a foreclosed home in Florida also involves the court system, the selling process is delayed, which has become a growing concern among the lenders and banks who possess these homes, especially as the housing market recovers and the number of foreclosures in other parts of the country decreases. The good new is that like most other cities...
Retail Rent Sees Global Growth
There is finally some good news in the land of retail rent. According to research conducted by CBRE, a real estate services and investment firm, global retail rent grew by 4% in 2013, and is expected to continue to rise in 2014, especially in popular markets. The growth seems to be a result of the lack of prime retail space available in some of the most expensive markets in the world, such as Hong Kong, Paris and New York. In 2013, a square foot of space cost US$4,333 per year in Hong Kong, US$3,150 in New York and US$1,426 in Paris. Additionally, there also appears to be a shortage of new retail development, which makes the fight for limited existing space even more competitive and costly. This is especially true in Hong Kong, where space in limited and demand is extremely high, especially among luxury retailers who...
If You Want to Predict The Housing Market, Go West
Back in 2007, it seemed as if the housing market crash would never end, and that foreclosures and decreased home values were to become the new norm. No place was this more apparent than in California, where home prices plummeted by about 42%. Slowly, though, the market began to recover, and California, as well as the rest of the country, began to see an upturn in the housing market. Today, however, affordable housing in California is harder and harder to find. It is estimated that only about a third of the population in California is now able to afford the costs of buying a new home. Why is this concerning for the rest of the country? Because California is actually one of the biggest indicators and predictors of what will happen in the housing market across the country. In other words, if housing prices are too high...
Where Have All the Homeowners Gone?
We’ve heard it before: “The 2008 real estate crash resulted in more than 7 million foreclosed homes.” But what does this number represent in real terms?  It means 7 million home owners whose creditworthiness has plummeted, leaving them unable to again enjoy homeownership. Where have they all gone? It would seem, to renting. More than 100 million Americans are renters. Never before in history has the business of renting single-family homes been more centralized, thanks to behemoth investors like Blackstone setting the pace. From individual investors purchasing just a few properties to multibillion dollar hedge funds buying thousands, the rental market has become big business. Multiunit landlords are enjoying access to bank financing at the same time that many homeowners – especially blacks, Hispanics and the under-40 crowd - are being denied. Is this a welcome trend? Thomas Lawler, an economist and formerly with Fannie Mae, stated, “Early buying...