Boston Red Sox Cap Logo (Photo credit: Wikipedia)

BOSTON, May 9, 2012

Group Boston Real Estate is pleased to welcome Robert Dougherty as the newest Realtor to its team.
Bob brings over 20 years sales and business development experience in the private, public, and nonprofit sectors having worked for and with executive clientele in the sports, entertainment, hospitality, financial, medical, charitable, and technology industries. Among them are the Atlanta Olympic Committee, Boston Red Sox, Aramark, House of Blues, Live Nation, Room To Grow, and Boston Centers for Youth & Families. Throughout his professional life, Bob has successfully endeavored to create unique partnerships between his clientele and many charitable causes. For many years, he has provided advocacy to burgeoning and established causes in Massachusetts promoting awareness, fundraising, and establishing philanthropic partnerships with businesses. Bob’s passion for charity, knowledge of Boston culture, and considerable professional experience fit perfectly with his new role.
Michael Carruci, Managing Partner States: “Robert Dougherty comes from an extensive background in Boston and we are pleased to welcome him to our team.”

About Group Boston Real Estate:

Group Boston Real Estate is one of the most trusted names in real estate throughout the Greater Boston area, located at 53 Hereford Street for 27 years. More information on Group Boston Real Estate is available at: http://www.bostonrealestate.net/, or call us @617-262-1900.

Robert Dougherty Joins Group Boston Real Estate is a post from: Real Estate Press Release

Arbor Realty Trust Announces New $15 Million Financing Facility

UNIONDALE, N.Y., — Arbor Realty Trust, Inc. (NYSE:ABR), today announced that it has entered into a $15 million committed revolving line of credit with a one year term, which is secured by a portion of the bonds originally issued by the Company’s CDO entities that have been repurchased by Arbor. This facility has a 1% commitment fee, a 1% non-use fee and pays interest at a fixed rate of 8% on any drawn portion of the line.

“We are very pleased to have closed this financing facility, which gives us another source of liquidity to fund our future business. We are also pleased with the flexibility of this facility, as well as in our ability to extract additional value from our investments by levering some of our CDO bonds that we repurchased from the market at significant discounts,” said Ivan Kaufman, the Company’s Chairman and Chief Executive Officer.

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. is a real estate investment trust, which invests in a diversified portfolio of multi-family and commercial real estate related bridge and mezzanine loans, preferred equity investments, mortgage related securities and other real estate related assets. Arbor commenced operations in July 2003 and conducts substantially all of its operations through its operating partnership, Arbor Realty Limited Partnership and its subsidiaries. Arbor is externally managed and advised by Arbor Commercial Mortgage, LLC, a national commercial real estate finance company operating through 14 offices in the US that specializes in debt and equity financing for multi-family and commercial real estate.

Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, continued ability to source new investments, changes in interest rates and/or credit spreads, changes in the real estate markets, and other risks detailed in Arbor’s Annual Report on Form 10-K for the year ended December 31, 2011 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Arbor’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

New Financing Facility in NY is a post from: Real Estate Press Release

Mercedes-Benz C 111 (Photo credit: Wikipedia)

Richmond Man Makes Unprecedented

Offer in Attempt to Sell Home

RICHMOND, Va. – A Richmond man attempting to sell his Midlothian home has an unusual offer to area realtors: Find a buyer for my home and I’ll buy you a car. But this is not just any car. Ken Jenkins is offering to purchase a brand new 2012 C Class Mercedes Benz, valued at $37,900 for the real estate agent who finds him a buyer.

The 3800 square foot estate, located at 915 Dalmore Drive in Midlothian, recently went on the market for $1.9 million and features a gated entrance, circular driveway with a fountain, 10 acres of privacy along with ceramic tile from Italy and the bathroom fixtures that were imported from Paris. In addition, the home has a gourmet kitchen, a free form heated in ground pool and state of the art security system. It is being listed by Susan Stynes, GRI a Long and Foster realtor in Midlothian, who said selling such a special home was going to take a special offer. 

 “It is not uncommon for the seller to offer up a thank you gift, but it usually ranges from a couple thousand dollar cash bonus to a gift certificate at a salon or nice dinner,” said Stynes. “But as I was talking about more unique incentives that we might be able to offer, like a trip to the wine country or a Broadway show, he suggested the Mercedes. It blew me away.”

“I’d be glad to offer it to the buyer of the home as well, but I felt like it would motivate the agents out there to find me a buyer for my home,” said Jenkins, who built the home in 2002. “I’m hoping it will be a fun contest. Now I just have to wait to see who gets the car.”

Jenkins said he would purchase the car from Mercedes Benz of Midlothian at the time of closing. Should the agent wish to forgo the car, Jenkins said he is willing to instead offer the agent $30,000 cash instead, in addition to the commission on the sale.

Additional details and photos of the home can be found at www.susanstynes.com, or by viewing the listing here.

Richmond VA Unique Home For Sale Offer is a post from: Real Estate Press Release

~Significant Improvement seen in lower-segment of Tahoe market~

Zephyr Cove, Nev. (April 16, 2012) – First quarter home sales at Lake Tahoe show an improved market compared to last year’s numbers for the same period, according to a quarterly report released by Lake Tahoe-based real estate firm Chase International. One noticeable and positive statistic was an impressive 15 percent increase in units sold around the lake, with the lower end of the market jumping 18 percent.

“The inventory in the lower segment of the market is disappearing around the lake,” said Susan Lowe, corporate vice president for Chase International. “Even though the average and median price has gone down from the first quarter last year (which saw many lakefront sales during that 2011 period and which we have not seen this year), the market is showing signs of recovery because the supply is vanishing.”
The Chase International 2012 first quarter report also shows dips around the lake overall in regard to sales prices from one year ago, which is reflected by the median price of a home in Lake Tahoe which is now $317,000 and the average home price which is $623,645, down 25 percent and 31 percent respectively.
Truckee is showing signs of recovery overall but especially for real estate sales over the $1 million mark. Specifically, the Truckee market stats report a whopping 175-percent increase in units sold over $1 million from four sales at this time last year, to a notable 11 sales this year.

The condominium market around Lake Tahoe experienced declines for all segments of the Tahoe market. The number of total condo units sold was down 18 percent. Average prices are down 35 percent and the median price is down 7 percent.

Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive affiliations handles a large share of the country’s property. A recognized leader in the world of real estate, Chase International continues to grow. With 240 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels. For more information about Chase International, visit www.chaseinternational.com.

Chase International : Tahoe Housing Market Beginning to Improve is a post from: Real Estate Press Release

Lake Forest, CA March 23, 2012

White House Property Management, a premier property management company in Orange County, CA, has created a blog and will post regularly on topics relating to Orange County real estate and property maintenance. Having already posted several blog posts, White House Property Management (WHPM) is focusing on issues relevant to both landlords and tenants.

Already having posted on topics like green property management, finding affordable living and recent real estate trends in the county, they are beefing up their campaign to post blogs on a regular basis. Being a reputed residential, commercial and apartment management company in Orange County, CA, they have myriad blog posts already in the works.

Centering on topics in Orange County, White House Property Management plans to write on everything from daily cost-saving maintenance tips and home improvement ideas to tenant advice for landlords and Orange County real estate trends. The aim of the blog is to bring light to the residential and commercial allure of the county as well as use their vast knowledge as a property management company in Orange County to communicate with clients and others in an online blog community.

“We are very excited to be on this new journey into the Blogosphere,” said Rashin Amini, Owner and Director of White House Property Management, on their new blog. “We’ve been brainstorming and have so many ideas just pouring out of us, it’s quite thrilling. The other day we had a staff meeting, started discussing the blog, and ended up going on for a couple hours. There are already many blog posts in the works and we’re really using each other to expand on ideas and only incorporate unique content.”

About White House Property Management
White House Property Management is a residential, commercial and apartment management company in Orange County. They focus on delivering a very positive return on investment to all their clients by keeping high occupancy levels, stressing transparency and maintaining very affordable costs. Their services range from the daily oversight and maintenance of properties, attending property inspections by authorities and dealing with the Homeowners Association to finding and screening tenants, collecting rent and handling evictions.

The property management company also handles financial statements, collects rent, pays property-related bills and creates monthly property reports to stay on top of maintenance and management. To visit their new blog, go to blog[dot]whpminc[dot]com.

White House Property Management, a leading Property Management Company creates a blog is a post from: Real Estate Press Release

The real estate brokerage servicing Fountain Hills and surrounding areas has moved from the Dominion Plaza on Saguaro Blvd to 16810 Avenue of the Fountains, Suite 211. The office is now located on the corner of Avenue of the Fountains and North Verde River Drive.

“This move marks a very important time for our office. Not only is the location ideal for a real estate company but as the market improves our office is expanding. We have an amazing team of experienced and professional REALTORS®. Their knowledge of the area, marketing expertise and desire to put their clients first sets them apart”, says Ken Zentz, Licensed Owner/Manager.

Dominion Real Estate Partners’ Fountain Hills’ Office Changes Location is a post from: Real Estate Press Release

Image via Wikipedia

Tough real estate market calls for developers to get creative

Two local developers, Walker Hospitality and Totangi Properties Ltd., have weathered storm by offering unique buyer incentives

Feb. 28, 2012, Victoria, BC – Low mortgage rates and an abundance of available inventory has added up to a challenging market for developers. But thanks to some creative thinking, two Southern Vancouver Island development companies, Walker Hospitality and Totangi Properties Ltd., have managed to stay on course despite the tough real estate marketplace.

“It’s imperative for developers to think outside the box, encouraging real estate sales by introducing innovative incentives,” said Richard Severs, realtor at Newport Realty. “In particular, I’m impressed with the work of two local developers: Totangi Properties Ltd. of Woodland Creek, a planned neighbourhood in Sooke, BC, and Walker Hospitality of the Oak Bay Beach Hotel, a luxury hotel with 100 combination hotel rooms and vacation suites and 20 year-round residences.”

Phase three a sell out for the Oak Bay Beach Hotel

Built to five-star standards and with more than 35 per cent of total inventory (vacation suites and permanent residences) now sold, Victoria’s new Oak Bay Beach Hotel is on track to open in just three-months time – but it wasn’t always such smooth sailing for the development team behind the $52M rebuild project.

Facing a downturned market head-on, the hotel’s development company, Walker Hospitality, rolled out a number of incentives last fall to attract and close sales with cautious buyers, including a 3.9 per cent contracted return on investment for the first 10 buyers of a vacation hotel suite.

“We launched the 3.9 per cent return deal last October – within a week, we’d already sold five of the 10 eligible suites,” said Kevin Walker, longtime co-owner and developer of Oak Bay Beach Hotel. “Nearly doubling the standard two per cent triple-net return rate of the hotel’s other vacation suites, this offer was a win-win for all involved: our buyers got a great deal on their purchases and we offloaded a good amount of inventory in a short period of time.”

Hot on the heels of the 3.9 per cent return promo, the Walker Hospitality sales team rolled out Fly & Try, a package sure to appeal to non-residents wanting to discover more about the city of Victoria before signing off on a real estate purchase.

Presented by The Discovery Club, the Fly & Try package includes two-nights luxury oceanfront accommodation at the Inn at Laurel Point, a hotel set in Victoria’s bustling downtown district; a $100 gift card for Marina Restaurant, an upscale West Coast-inspired dining establishment located in Oak Bay; a choice of a whale-watching or golf excursion for two; a private car and driver for airport and hotel transfers; a personal Oak Bay Beach Hotel site tour and presentation; and an Oak Bay Explorer card, valid for discounts and special offers at nearby businesses.

The Fly & Try package starts at $740 per couple, with the cost reimbursed in full to those who purchase a suite at the Oak Bay Beach Hotel.

Set to open in May, the six-story Oak Bay Beach Hotel contains a full-service spa and seaside mineral pools; a cozy pub (The Snug), gourmet restaurant and dinner theatre program; and round-the-clock butler, concierge and valet services. To celebrate the hotel’s opening, a star-studded fundraising event, held in partnership with the David Foster Foundation, is slotted for May 25 – 27, 2012.

Woodland Creek gets social
Woodland Creek, a 180-residence development in Sooke, BC, has experienced sales success despite a downturned economy – something Blair Robertson credits to having a strong and engaging web presence.

“In this kind of market, it’s the seemingly little things, such as having a great, consistently-branded, easy-to-navigate and information-packed website, that sets you apart from your competition,” said Robertson, co-owner of Totangi Properties Ltd., the developer behind Woodland Creek. “In this digitized world, our potential homebuyer has created a first impression of our development long before he or she ever picks up the phone or drops by the site for a tour.”

Robertson’s online efforts have paid off, too. In 2011, Woodland Creek’s website was recognized by the provincial and national branches of the Canadian Home Builders’ Association. Totangi Properties was named a finalist for a Georgie (BC-wide award) in the category of Best Project Specific Website and a SAM (Canada-wide award) in the category of Best Website. Last fall, Woodland Creek also earned a gold award for Best Website at the 2011 Construction Achievements and Renovations of Excellence (CARE) Awards.

According to Robertson, equally important to having a quality website is having the ability to engage appropriately on social media. To-date, Woodland Creek has attracted the likes of nearly 850 Facebook fans and more than 400 Twitter followers by hosting innovative campaigns (such as donating $2 to Power to Be, a local charitable organization, for every new Facebook fan) and posting informative content about why living in Sooke is great (such as tweeting local secrets and hotspots using the hashtag #ysookerox).

And when it comes to offline promotions, such as last fall’s Relocation Vacation offer, Robertson’s creativity shines just as bright. Designed to highlight the livability of the Oceanside town, the promo gave visitors discounted rates at a number of luxury and off-the-beaten-track accommodations, offering prospective buyers an inside-look at daily life within the community. It got better, too: those who fell in love with Sooke and ended up buying a new home at Woodland Creek from Totangi Properties Ltd. had all vacation expenses reimbursed – to a maximum of $1,000.

“Word about our Relocation Vacation offer quickly spread online via our Twitter and Facebook channels,” said Blair Robertson, co-owner of Totangi Properties Ltd. “Sooke is one of British Columbia’s many hidden gems, packed with long stretches of beaches, hiking and biking trails, great shops, gourmet restaurants and a range of annual festivals and events. The more people we can get talking about this fantastic community, the better.”

Upon completion, Woodland Creek will include a total of 100 single family residences and 80 townhomes priced from $384,900 (net HST included), an area zoned as neighbourhood commercial and a public park (complete with a pond, walking trails and a playground). Woodland Creek is the first housing development in Sooke to offer residences with geo-exchange heating, cooling and hot water.

For more information about the Oak Bay Beach Hotel or Woodland Creek developments, visit www.oakbaybeachhotel.com or www.woodlandcreek.ca.

About the Oak Bay Beach Hotel

The new Oak Bay Beach Hotel is being completely rebuilt on the same spectacular oceanfront lot where the previous hotel sat for more than 80 years. It will reopen this spring as a 100-room hotel with 20 luxury residences and vacation hotel suites. Built to five-star standards, hotel and residential amenities include a seaside therapeutic mineral pool, a fitness centre, spa, dinner theatre program and fine-dining restaurant. Not only is this Victoria’s first combination full-service luxury hotel and private residence, but it is also the only commercial waterfront development in Oak Bay.

About Totangi Properties Ltd. and Woodland Creek

Totangi Properties is a locally owned and operated property development and land management company established in 1968. Brothers Warren and Blair Robertson work closely with a talented team of local professionals and the District of Sooke in the creation of Woodland Creek and are committed to creating affordable, high-quality residential properties with lasting homeowner value.

Walker Hospitality and Totangi Properties Ltd. is a post from: Real Estate Press Release

For 76 years, a company known as Avatar had a successful stand-alone identity.  Born during the Great Depression, the company survived the toughest of economic times and prospered in a variety of industry sectors for the next eight decades.  Then in 2009 things got a little mixed up thanks to Director James Cameron.  In an age of search engine optimization, try competing for space with the highest grossing film of all time.  It’s especially tough when 90% of your customers begin their product search online.

Cover via Amazon

So, as we usher in 2012, Avatar has become AV Homes, Inc.  Could it be the first time a company has had to change its name because of a blockbuster movie of the same name?  Probably so.

Avatar, errr…AV Homes, is a home builder and community developer whose primary business is selling homes in active adult communities to people age 55+.  They build in Florida and Arizona.  “It was costing us a lot of time and money to maintain our presence on the search engines.  Resources that our competitors didn’t have to invest,” said AV Homes Executive Vice President Carl Mulac.  “Research has shown that 60% of online surfers will only click on the first three listings.  In most cases, we were fighting hard for a page three listing,” he joked.

But the story does have a happy ending, as did the movie.  The search for a new name was accompanies by a strategic planning exercise conducted with assistance from the homebuilding industry’s leading real estate advisory firm, RCLCO.  The planning initiative helped AV Homes identify new product opportunities for the massive Boomer market and new opportunities for growth beyond Florida and Arizona.  In addition, the company adopted a new business and operating model that is low on SG&A costs and high on hands on involvement by senior management.  The company is also planning to introduce some new product brands in the near future.  What a difference a name can make.

Kissimmee, FL (Feb. 15, 2012) – With nearly 80 years of history behind it, builder and developer Avatar Holdings Inc. is changing its name.  The new company name is AV Homes, Inc.™ and its shares will begin trading on NASDAQ under the ticker symbol AVHI effective as of the market open on Feb. 16, 2012.

The new name was chosen to communicate an unmistakable business identity to its customers, while maintaining a linkage to the company’s long and successful history.  The new name, however, is just one part of a larger strategic planning initiative that was undertaken to position the company to participate in the much anticipated rebound in the homebuilding sector.

AV Homes has deep and diversified roots in American business.  Founded in 1933, it endured the Great Depression and has operated in business sectors such as finance, insurance, utilities and manufacturing.   More recently, the company established itself as a builder of active adult communities for people 55 and older, and by serving the housing needs of move-up buyers.

Chief Executive Officer Allen J. Anderson, who stepped into the role in June 2011, said the strategic planning initiative, conducted with assistance from real estate advisory firm RCLCO, has served to redefine the company’s business plans.  “As a company we have a strong understanding of the active adult market and how the last five years have affected the retirement plans of Baby Boomers,” he said.  “In addition, Boomers have never been more focused on the elements that contribute to a healthy and vital lifestyle.  These are both factors that will help us define the homes and lifestyles we provide to this massive demographic segment of our population,” he added.

Anderson said AV Homes will soon bring new active adult brands to the market, but did not elaborate about the specific elements of those brands.  Late last year the company announced that it is reviewing its thousands of acres of land holdings in Central Florida with the objective of selling some of those holdings and deploying the capital from those sales to diversify the geographic footprint of the company.

Recently, the company rebranded its primary residential development operations under the Joseph Carl Homes™ name.  That brand has ongoing operations in the Orlando and Phoenix areas.  Joseph Carl Homes was founded by AV Homes Executive Vice President Carl Mulac.  Mulac and his business associates sold the company to AV Homes in October of 2010.  That sale also included CantaMia™ a 55+ active adult community near Phoenix.

Anderson said the overall rebranding activity was an important part of the strategic plan, but added that the company was also implementing a new operational model to address the economic realities of the industry.  “Builders today cannot compete successfully using the operating models of the past,” he said.  “We closed our corporate offices in Coral Gables, Florida and placed our teams and executive officers on the ground closer to our assets.  We’ve right-sized our employee base to align with ongoing operations, and have initiated third-party agreements with experienced service providers who can better manage our lifestyle operations and enhance our customers’ satisfaction,” he said.

Finally, as part of AV Homes’ strategic planning initiative, the company has reduced the size of its Board of Directors from nine members to six.  Directors Milton Dresner, Beth Stewart and Ken Rosen resigned from their positions effective Feb. 13, 2012.

Dr. Kenneth Rosen served on the Avatar board for 18 years bringing both valuable practical and academic perspectives to his role as a Director.  Mr. Rosen was appointed to the Board in September 1994 and applied his expertise to its strategic growth with key demographic insights and appreciation of emerging market trends garnered as Chairman of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley.  Mr. Rosen’s prescience was most valuable in his early warnings of the looming housing crisis helping Avatar pull back from the market well before other homebuilders.  He also recently served as Chairman of the Compensation Committee.

Mr. Milton Dresner served on the Avatar board for 17 years providing a wealth of experience in the real estate markets, particularly relating to home building.  Mr. Dresner was appointed as a Director in July 1995.  As Founding Partner of The Highland Companies, he employed his 50 years of real estate experience to the benefit of Avatar, helping to shape the company’s strategic plans and direction and sharing invaluable insights.  Most recently he also provided important leadership to the company as Chairman of its Nominating and Corporate Governance Committee.

Ms. Beth Stewart joined the Avatar Board of Directors in May of 2001.  As an accomplished business executive with extensive Corporate Board experience, Ms. Stewart provided important guidance to many of the company’s financial initiatives with perspectives gained as an investment banker, specializing in real estate, at Goldman Sachs & Co.  Ms. Stewart was very active in the board deliberations culminating in the acquisition of The Jen properties in October 2011.  She served on the Board’s Audit and Nominating and Corporate Governance Committees.

Avatar Chairman Joshua Nash said he was extremely appreciative of the considerable contributions these directors made on behalf of the company over so many years of dedicated service.  “They served Avatar with dedication and high distinction for many years and together, they have contributed to our success and helped build a strong foundation for our future growth.  We thank them for their unwavering commitment and wish each of them continued success in their future endeavors,” Mr. Nash said.

AV Homes, Inc. is engaged in homebuilding, land development and other real estate operations in Florida and Arizona.  Its principal operations are conducted at its 55+ active adult communities – Solivita™ near Orlando, and CantaMia near Phoenix.  It also builds homes for people of all ages in Central Florida and Phoenix through its Joseph Carl Homes brand.

Becoming AV Homes, Inc. From Avatar Holdings Inc. is a post from: Real Estate Press Release

Luxury Real Estate Partners today announced a partnership with Smarter Agent to provide Las Vegas condo listings on smart phones and tablets.

The app uses GPS to identify Las Vegas Condos for sale in the user’s immediate geographic area, when available. Users also can search by a U.S. address, city or zip code to see property details including price, square footage, estimated mortgage, taxes, features, maps and pictures for all homes for sale in a specified area.

“Luxury Real Estate Partners Mobile is leading the charge on the growing mobile marketplace and helping our team own the mobile relationship with current and potential clients,” said Anthony Phillips, President, Luxury Real Estate Partners. “Luxury Real Estate Partners Mobile is unique in that it offers downloadable apps for the iPhone, BlackBerry, Android, Palm and standard cell phones across all carriers, as well as a mobile web search version, enabling our network to virtually reach all homebuyers that use mobile devices, in Las Vegas.”

Luxury Real Estate Partners Mobile features includes a Refine Search capability that allows users to narrow their search by selecting a price range, property type and number of bedrooms and bathrooms. If a user has questions or wants a tour of the property, the Call feature immediately connects them to a Luxury Real Estate Partners representative. A new Contact feature allows them to either call or e-mail the agent for additional property information from within the app. Additional enhancements include the ability to save a search or favorite properties to view later, send a property to a friend via text or e-mail and forward the Luxury Real Estate Partners Mobile app to any cell phone user via text message.

Image via CrunchBase

To download the app, consumers can text “888LP” to 87778, or click on the Luxury Real Estate Partners app link found on mylvcondosales.com to send a text message to their phone with a link to download the app. Those using their smart phone can download the free app directly from the Apple, Blackberry, Android and Palm stores.

The Luxury Real Estate Partners Mobile app was created by Smarter Agent, the leading mobile real estate provider in the United States, to create innovative ways for buyers to search for homes and interact with their agents.

About Luxury Real Estate Partners:

Luxury Real Estate Partners is a Las Vegas based Real Estate Marketing firm which includes professionals in sales, management, construction, marketing and finance. For more information, visit www.luxuryrealestatepartners.com.

Luxury Real Estate Partners Mobile adds Las Vegas High Rise Condo Listings is a post from: Real Estate Press Release

LendingTree today released an infographic with the states with the highest and lowest average mortgage down payment.  New Jersey leads the nation with a 13.76% average down payment.  North Dakota is last, with an average 11.37% down payment.

Click to see graphic:

New Jersey Leads Nation in Highest Average Mortgage Down Payment According to LendingTree.com

Midwest states, including Wyoming and North Dakota, rank at bottom of list

Charlotte, NC, December 8, 2011 – With the housing market continuing to struggle and fewer consumers being able to purchase a new home or apartment, LendingTree.com, the nation’s leading online lender exchange and personal finance resource, today released data highlighting the average down payments on residential real estate purchases for all 50 states and Washington D.C.  New Jersey leads the country with the highest average down payment of 13.76%.  The state with the lowest average down payment is North Dakota, where buyers put down an average of 11.37%.  

The locations rounding out the Top Five for highest down payments including Washington D.C. (13.54%), New York (13.51%), Hawaii (13.37%) and California (13.25%).  The states completing the bottom five are Wyoming (11.42%), Oklahoma (11.67%), Utah (11.75%) and Tennessee (11.75%). Overall, the average down payment for all states is 12.29%.

LendingTree has created an infographic showcasing the “down payment divide” and it is available at http://marketing.lendingtree.com/pr/map_info_graphic.jpg.

“If Federal regulators were to adopt the proposed 20 percent down payment requirement, a majority of borrowers wouldn’t be able to meet the standard given the findings in this report,” said Doug Lebda, founder and CEO of LendingTree.  “The proposed rule is part of a larger set of requirements that would exempt qualified borrowers from risk retention requirements and would have access to the lowest rates available.  While this rule has yet to be put into effect, borrowers should be aware of the possibility and plan for future home loan needs. By utilizing LendingTree, borrowers can find the lowest rates available, find the best deal, and decrease monthly payments to make the dream of owning a home a reality.”

Additional findings from the LendingTree data include:
-    New Jersey, a state with a loan-to-value ratio lower than the national average, also has a higher average home price than most other states.  However, New Jersey falls into the higher end of the spectrum in terms of average debt-to-income ratios.
-    Nevada, a state that has had high foreclosure rates and sharp decrease in the numbers of homes purchased, actually ranks as the state with the ninth highest average down payment at 13.05%.
-    The state with the most “closings” to date in 2011 is Texas, with 39,498 (thru October 2011).  South Dakota has the fewest closings this year with only 807.

About LendingTree, LLC
LendingTree, LLC is the nation’s leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE , join our Facebook page and/or follow us on Twitter @LendingTree.

Highest and Lowest Mortgage Down Payments By State is a post from: Real Estate Press Release