Commercial real estate giant Cushman & Wakefield made its debut on the stock market on Thursday, with shares jumping up to 7 percent in its initial public offering on the first day of trading. Cushman ended Thursday trading at $17.81 per share on the New York Stock Exchange.“Being public gives us a currency where we can accelerate our growth even above where it has been these days,” Brett White, CEO of Cushman, told CNBC.The company offe
An empty parcel in Los Angeles could potentially become the most expensive piece of real estate ever sold, CBS News reports. Labeled “The Mountain,” the 157-acre lot in Beverly Hills is the highest point in the 90210 ZIP code and offers up 360-degree views of Los Angeles County.The plot contains 17 parcels of land; six are zoned for homes. The land also comes with permission to build 1.5 million square feet of living space. Bloomberg estimate
The Federal Reserve decided Wednesday to hold off on raising its short-term interest rates. But it hinted that it likely will deliver its third interest rate increase of the year at its next meeting in late September. The Fed’s key rate does not have a direct impact on mortgage rates, but it usually influences them.“Economic activity has been rising at a strong rate,” the Fed’s statement read. Economic output rose at a 4.1 percent annual
Eighteen active wildfires spreading throughout California have scorched an area larger than the entire city of Los Angeles, officials said Wednesday. Communities spanning from Redding in Northern California to Riverside County in Southern California are all under threat.The impact on the housing market, however, could be mixed. Realtor.com® notes that property values will most likely plummet in some areas and may take years to recover. But in so
Housing inventories in high-priced markets are gradually making a turnaround. One-third of the largest 45 U.S. metros saw a yearly increase in housing inventory in July, realtor.com® reports. In some markets, the inventory increase has been dramatic. For example, in Silicon Valley, the San Jose metro posted a 44 percent increase in inventory compared to a year ago.The greater number of choices, however, doesn’t mean lower prices. The median li
There must be a remodeling bug flying around Oklahoma City. The area ranked the highest of the 50 largest U.S. cities by volume of home improvement loans issued to homeowners, according to a new analysis by LendingTree.San Jose, Calif., ranked second on LendingTree’s list. Analysts say the city’s high home prices and tight inventory have benefited current homeowners, who are seeing a rise in equity that they can then apply to bettering their
So, your clients fell in love with a home and made an offer that they felt was a very good one. Now they want to know why it was rejected. It's not always cut-and-dried, but realtor.com® recently featured some of the reasons sellers don't accept certain offers, including some surprising logic.burak kostak on PexelsThe buyers revealed too much.Personal letters have become a popular strategy that some real estate professionals recommend, but it's
Renters are struggling to catch a break. In seven of the largest U.S. cities, the average household would need to make at least six figures to comfortably afford the rent on a two-bedroom apartment, according to a new study by SmartAsset, a personal financial website. SmartAsset researchers looked at how much it takes to afford average rental rates in the nation’s 25 largest cities.Households that spend more than 30 percent of their incomes on
Smoking in a home can reduce that property’s resale value by up to 29 percent, according to realtor.com®. And home buyers who fall for a home that reeks of smoke shouldn’t assume the odor will go away as soon as the smoker moves out.Tobacco-specific nitrosamines and nitrous acid can cling to walls and other surfaces within the house. “You could breathe in several hundred nanograms of these carcinogens long after the last cigarette burned o
The U.S. Senate approved a bill Tuesday to keep the National Flood Insurance Program operating for four more months. President Donald Trump is expected to sign the bill, which cleared the House last week, into law before midnight Tuesday, when the program expires.“We applaud lawmakers for taking this needed action to prevent disruptions to closings in thousands of communities across the country,” Elizabeth Mendenhall, president of the Natio
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