Friday, July 22, 2011
"It was truly an honor and a privilege to compete with such talented and professional auctioneers," said Mast. "Auctioneering is one of history's oldest professions and full of tradition. I've had opportunities to travel the world calling bids and look forward to representing the auction industry over the coming year."
A graduate of Missouri Auction School, Mast started his career selling personal property, then expanded to auto auctions. At 24, he branched out and acquired his real estate license and joined Real Estate Showcase in 2004. In 2008, he purchased the company and has expanded it to more than 50 agents in four offices (Ashland, Millersburg, Wooster and Loudonville).
In 2008, he joined the elite Barrett-Jackson automobile auction team as its youngest member, and in 2010 joined Fasig-Tipton, America's oldest thoroughbred auction firm selling multi-million dollar horses.
He serves as the lead auctioneer for the Akron Auto Auction, a contract auctioneer for Yoder & Frey, selling industrial and heavy equipment, as well as an agent/auctioneer for Williams & Williams, a real estate auction company.
Mast is a member of the National Auctioneers Association, Ohio Auctioneers Association and the National Association of Realtors. Mast graduated from the Certified Auctioneers Institute (CAI) in 2009.
Along with the women's division champion, Camille Booker (lower right photo), Mast will serve as a spokesperson and ambassador for the quarter-trillion dollar auction industry. At 31, he is the youngest competitor to ever claim the title of IAC Champion. He lives in Millersburg, Ohio, with Marie, his wife, and their three children.
Real Estate Showcase specializes in the auction marketing and sale of real estate of all types, residential, commercial, farms and land.
For more information, call (330) 763-4411 or visit www.reshowcase.com.
Real Estate Coalition Urges Debt Negotiators to Drop Carried Interest Tax Hike that Would Stifle Job Creation
In an attempt to help close the budget deficit, lawmakers are considering treating carried interest as ordinary income (taxed at up to 35 percent) rather than as capital gain (subject to a top rate of 15 percent).
Such an increase could derail a real estate recovery by disproportionately impacting small to medium sized real estate partnerships that rely on carried interest to make up for the substantial risks and liabilities associated with long-term real estate ownership and development.
The proposed tax increase on carried interest would overturn more than 60 years of partnership tax law and would significantly curtail commercial real estate activities. Nearly half of all investment partnerships in America are real estate partnerships, which are key drivers of job creation and economic development in communities across the country.
When Congress considered raising the tax rate on carried interest last summer, both the U.S. Conference of Mayors and the National Association of Counties passed resolutions urging Congress to maintain the current law as it relates to real estate partnerships because of its negative impact on state and local taxes.
An increase in the carried interest tax rate will result in:
Fewer jobs. The tax increase will threaten millions of jobs that are made possible by real estate development projects.
Fewer economic development projects. Projects with brownfields, mixed-use or affordable and workforce housing components will be the hardest hit because developers use carried interest as the return for shouldering the tremendous risks and liabilities associated with these types of real estate projects, including environmental concerns, operational shortfalls, construction delays and loan guarantees.
Fewer small investors. At a time of global deleveraging, proposals to more than double the tax rate on carried interest would encourage more debt vs. equity—for those even able to obtain loans from institutions. Small investors—key job creators—typically do not possess the capital to leverage and will likely not enter into commercial real estate development.
Less tax income at the state and local level. Higher effective tax rates will cause real estate owners to hold on to existing holdings, significantly undermining redevelopment of underutilized properties and curtail new real estate development, reducing transaction-related taxes at every level.
Real Estate Coalition:
American Hotel & Lodging Association, American Resort Development Association, American Seniors Housing Association, Building Owners and Managers Association (BOMA) International, CCIM Institute, CRE Finance Council, Institute of Real Estate Management, International Council of Shopping Centers, Mortgage Bankers Association, NAIOP – The Commercial Real Estate Development Association, National Apartment Association, National Leased Housing Association, National Multi Housing Council and The Real Estate Roundtable.
Manager of Media Relations
Lanham's company brand, Real Estate Recovery, expresses his confidence in continuing growth, and the business has expanded services beyond the residential market, to offer commercial and investment properties as well.
Associate Broker Jeff Yunis (top left photo) heads up the new focus on commercial and investment real estate. He brings nearly 40 years of real estate experience in residential and commercial sales and leasing.
Licensed to practiced law in New York and Florida, Jeff has completed hundreds of real estate transactions including planning, development, marketing, leasing and sales of residential, commercial and government projects.
Jennings enjoys what he calls the "matchmaker" role of the real estate agent — connecting sellers with buyers. He continues to believe that even with today's slower, more realistic percentages, homeownership remains a key factor in the accumulation of financial assets.
Sales Associate Bennett Goldworth (lower right photo) has worked in the real estate business for nearly two decades, primarily in the New York City area, where his family has been in real estate as investors and builders for two generations.
He has bought, renovated and sold his own properties, and he has managed his own firm. But sales have always been his preference. "I believe real estate can be likened to a love affair," says Goldworth, whose goal is always to successfully match people to properties.
Sales Associate John Hech resumes his Florida real estate career following the sale of a hotel liquidation business he founded. He honed his sales skills in the promotion and launch of several restaurant projects. John is a member of the Army National Guard where he specializes in food services.
"As you can see, we have a very deep bench," says Lanham. "The breadth of experience and wealth of knowledge enables us to offer a full service, one-stop shop for the real estate needs in this community."
More information about the company, broker and sales associates can be found at www.lanhamassociates.com.
Gary Boyd Lanham
Lanham & Associates, Inc.
Real Estate Recovery
3242 NE 12 Avenue
Oakland Park, FL 33334
On the Move: Market Pick-up and Larger Incentives Entice Candidates to Look for New Opportunities - Hays Quarterly Report
Tokyo, July 22, 2011 - (JCN Newswire) - Completed bonus payments, larger incentives and a pick up in the market have contributed to a larger number of candidates now entering the jobs market in Japan in the third quarter of 2011, says recruiting experts Hays.
In our latest Hays Quarterly Report, for the July-September quarter, we found that candidate levels have increased again as people start to feel the economy is stable enough for a move. Candidates are also looking for more job security and are moving out of the temporary roles that sustained them during the recession into more permanent employment.
"There was a decrease in candidate levels following the earthquake as employers reassessed the damage and its effect on companies," says Christine Wright, (top right photo) Managing Director of Hays Japan.
"We also lost a number of foreign workers who left Japan after the earthquake and replacements have been required to fill these vacated roles in the last and upcoming quarter. This has resulted in plenty of opportunities for local candidates.
"As positions are filled, particularly at the executive level, this in turn has created the need for other companies to find replacements and so we are seeing high demand for senior managers. Employers are opting to find the skills locally in Japan and are willing to offer higher salaries and more benefits to attract candidates with the right skills sets.
"We are also seeing a rise in the demand for insurance professionals and as a result Hays Japan launched an insurance specialism last quarter. We've particularly seen demand rise for Adjusters to assess claims, while telephone operators are needed to take calls from policy holders."
For a complete copy of the company’s news release, please contact
Claire Martin at +81 (0)3 3560 1529
Teresa Ryan (lower left photo) Realtor and Owner of Ryan Hill Realty said: "Rose McMahon is a wonderful individual who deserves this recognition. We're proud to have her on our team."
Witnessing the event live were board members from NRFOV and agents from Ryan Hill Realty.
Ryan Hill Realty, a privately-owned residential and commercial brokerage firm, opened its main office in downtown Naperville in 2002. The company’s mission is to “deliver the ‘American Dream’ by serving clients and community with passion and excellence.”
Ryan Hill Realty
Metro Chicago Real Estate Market Looks Ahead to Stronger Home Sales as June Delivers Best Results of 2011
Sales figures for June registered notable gains in transaction volume and both median and average prices when compared to May and all earlier months this year. At the same time, June results lagged well behind the same month last year when the end of the federal homebuyer tax credit helped generate the largest number of home sales recorded during a single month since the summer of 2007.
Sales of detached homes were especially strong, rising 16 percent from the May total to 4,909 units in the metro area. Attached sales rose 7 percent to 2,547 units.
Another positive sign for the market was that the percentage of sales represented by distressed homes (foreclosures and short sales) was 36 percent in June, down from 41 percent in May after peaking at 51.5 percent in February. The RE/MAX analysis is based on transaction information from Midwest Real Estate Data, LLC.
Nonetheless, June sales results still trailed the comparable figures posted a year earlier. Total home sales were 18.6 percent lower, the median price declined 13 percent and the average price fell 5.7 percent.
RE/MAX reports that the June figures for last year were something of an anomaly reflecting a surge of sales as buyers tried to complete transactions that qualified for the federal tax credit.
This year’s June sales numbers suggest that the gradual recovery of the housing market is continuing. The strength of that recovery will be easier to gauge in a month. At that point, July sales results can be compared to those for July 2010 when the tax credit was much less of a stimulative factor although it still played a limited role.
The metro Chicago market did show substantial variation when June sales are looked at on a county-by-county basis. Kendall County posted a 10.2 percent increase in home sales when compared to June of last year, the best result of any of the seven counties. Only minor declines in total sales occurred in two other counties: 1 percent in Kane and 4.2 percent in Will. In contrast, sales in Cook County were down 24.6 percent on the same basis. Sales also fell 11.3 percent in DuPage, 13.7 percent in McHenry and 20.4 percent in Lake. In the City of Chicago sales were off 29 percent.
Home sales activity in June showed other interesting differences from the pattern seen a year earlier. Homes selling for less than $200,000 represented 54 percent of June sales, compared to 48 percent in June of last year.
At the same time, homes priced at $700,000 or more accounted for 5.6 percent of all sales, up from 5.1 percent last June. Increased activity at both ends of the market meant that homes priced from $200,000 to $699,999 accounted for 41 percent of June sales, compared to 47 percent a year ago.
RE/MAX has been the leader in the northern Illinois real estate market since 1989. The RE/MAX Northern Illinois network consists of 2,300 sales associates and 110 individually owned and operated RE/MAX offices that provide a full range of brokerage services throughout the northern one-third of Illinois. Its www.illinoisproperty.com and www.remax.com websites are leaders in consumer visits among real estate franchise brands.
Its mobile search, m.illinoisproperty.com, allows users to conduct real estate searches on any mobile device with Internet access. The northern Illinois network is part of RE/MAX LLC, a global real estate organization with 90,000 sales associates in 84 nations.
RE/MAX Northern Illinois
847 428 4200
Posted by Alex at 8:38 AM
New York, NY, July 22, 2011 --(PR.com)-- The proceeds of this $7.2 million loan were used by the borrower for the repayment of a private bridge loan, originally utilized for the purchase and renovation of the complex.
According to John Dragone, the senior banker and team leader on this deal at Terrace Capital, “MSC Investment is a seasoned development company with access to a wide range of financial institutions throughout the country.
“ When their local banker’s stopped funding permanent loans on properties with limited operating history, due to the stagnant economic climate and substantial vacancy rates in the Atlanta MSA, MSC turned to Terrace because of its ability to navigate the non-recourse, credit markets and provide innovative solutions for low cost, permanent financing during the worst credit crunch since the Great Depression.”
The 5-year non-recourse loan, with a 5.21% interest rate fixed for 5 years and amortized over 30 years, closed within 7 days of investment committee approval.
Multiple challenges existed in structuring the deal, which included a limited, stabilized occupancy history of 3 months, a market vacancy rate of approximately 17% and a limited equity position of 10% in the project.
Terrace is now currently exploring providing equity for MSC to acquire additional multifamily complexes between 100 & 400 units in the Atlanta MSA, via the Landmark Opportunity Fund, real estate hedge fund managed by Terrace Capital.
Terrace Capital is a direct lender and asset manager of private funds which provide debt or equity capital for commercial real estate transactions. The Firm is a leader in providing conventional mortgages and bridge loans solutions for wide range of real estate transactions.
For more information about Terrace Capital and the services it provides, go to www.terracecapital.com.
John Dragone, Managing Director, Terrace Capital, 212-671-1031