April 2023 - Home Real Estate

April 23, 2023

Willis heads commercial unit for The Group Real Estate firm and other Chattanooga-are career moves

Contributed photo / Alexis Willis

Willis heads commercial unit for The Group Real Estate firm

Alexis Willis has joined The Group Real Estate Brokerage LLC in Chattanooga as head of the company’s new commercial real estate division, according to a company announcement.

Willis is a licensed Realtor in Tennessee and soon to be in Georgia who will focus on growing the commercial unit for the Chattanooga brokerage firm.

Willis previously worked for a year and a half as a real estate broker for Second Story Real Estate Management after she founded Natural Beautiful Me in 2011. Willis was also formerly the director of small business and entrepreneurship for the Chattanooga Area Chamber of Commerce from 2018 to 2021 and previously served as director of business support and facilitator for Launch Chattanooga.

Willis is a graduate of Girls Preparatory School and the University of Tennessee at Chattanooga, according to her LinkedIn profile.

LBMC names Steve Thomason as audit director in Chattanooga

Steve Thomason has been promoted to managing director in the audit and advisory practice of LBMC, one of the Southeast’s largest advisory and business consulting firms.

Photo contributed by by Dan Henry / Steve Thomason

Thomason joined LBMC in 2003 and has more than 25 years of experience working with middle-market businesses in manufacturing, distribution, service and construction industries. Thomason specializes in providing audit and assurance services, as well as advisory services related to highly technical accounting and financial reporting areas such as equity-based compensation, complex revenue transactions, post-transaction purchase accounting and business combinations. Thomason received his master’s and bachelor’s degrees from the University of Tennessee at Chattanooga and is a CPA. His clients include private equity-backed, family-owned and foreign-owned companies, and he has extensive experience in auditing employee benefit plans, and religious organizations.

Thomason serves on the boards of the Chattanooga Autism Center and the Kiwanis Club of Chattanooga.

Dennis Blanton, the practice leader for LBMC in Chattanooga, said Thomason “exemplifies what it means to provide outstanding service and expertise to our clients, and we’re honored to welcome him to the Chattanooga leadership team.”

Information about new hires, promotions and business awards should be sent to onthemove@timesfreepress.com.

April 21, 2023

Naples, Fla. Luxury Real Estate Broker Mark P. Riley Makes Clientele Luxury’s 2023 Hot 20 Luxury Agents List

Mark Riley Naples Florida Luxury Real Estate Broker and Leader in Luxury Real Estate

Riley’s distinction stands on 43 years of experience in luxury real estate, including career sales of over $1.4 billion.

NAPLES, Fla. (PRWEB)
April 20, 2023

Luxury real estate is a prominent yet highly competitive market both in terms of buying and selling. Clientele Luxury’s annual Hot 20 Luxury Agents List acknowledges agents and professionals who have reached the top of their respective regions’ markets. For 2023, Mark P. Riley, the owner and broker of Lux International Properties, made the roundup and fortified his status as someone to watch in Florida’s luxury real estate market. Recently he had a record sale of 7 Million in the Residences at Mercato located in Naples.

Riley’s distinction stands on 43 years of experience in luxury real estate, including career sales of over $1.4 billion. Riley prides his success on dedication and a versatile skill set, including negotiating deals, attention to detail, impeccable customer service, expansive market knowledge, and repositioning skills.

His prowess extends beyond the Naples area to deals in Dubai, Stockholm, London, Cannes, and Mougins, France. He enhances this perspective with his interest in yachting, which, beyond enjoyment, allows him to explore coastal real estate from another angle. In 2022, Clientele Luxury magazine reached out to Riley for his professional insights into the Naples, Florida, luxury real estate market. He described the community situated on the Gulf of Mexico as a fusion of European charm and paradise with lower state income taxes and ideal for both investments and for those interested in working from home. His outlook reflects Naples’ recent transformation from a vacation market of second or third homes into a residential community attracting families.

Outside of real estate, Riley believes in giving back to his community. He and Lux International Properties engage in multiple philanthropic ventures, including supporting Habitat for Humanity, St. Matthews House, Youth Haven and the Make a Wish Foundation, among other organizations.

About Clientele Luxury

Clientele Luxury magazine made its debut in Fall 2013, highlighting travel destinations, style, and ultra- luxury properties and real estate agents from across the United States. For the past decade, Editor-in-Chief Erin Green and Senior Editor Irene Test have captured their audience with noteworthy content geared toward the affluent, and many of the original featured agents continue to partner with the now- established magazine to access and gain visibility among a high net-worth target audience. At the same time, the magazine’s spreads present the homes through detailed imagery and pair them with engaging content geared toward buyers considering ultra-luxury properties. Along with the Global magazine, Clientele Luxury publishes its Top 10 Homes in the USA edition seasonally, geared toward $200,000,000 or higher net worth individuals, and the biannual BESPOKE, focusing on luxury properties and travel destinations. Considering the full luxury experience of travel and exploration, the magazine continues to carve out a niche by showcasing interior designers, creative individuals, and some of the world’s most sought-after travel destinations.

@clienteleluxury

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April 20, 2023

CA-based ‘tech enabled’ real estate fund owns more than 200 homes in Rochester

ROCHESTER, N.Y. (WROC) — On Monday, April 10, firefighters were called to a home in the overnight hours at 26 Burbank Street. It was the second time the home caught fire in less than a month and with fire officials deeming it to be arson. The building is owned by an LLC called SFR3-60 and according to city records, it has 12 code violations currently listed. To top it off, the city’s housing attorney Mike Fulano says he cannot get in touch with anyone with the company.

“We have the long-term concern of companies coming in, engaging in de-investment and leaving the city with a husk of a property. We have the short-term problem of these, when there’s an immediate issue and an emergency, that we have no body to contact – the occupants have nobody to contact, the neighbors don’t have anybody to contact whenever something goes wrong with these properties. There’s no accountability,” says Furlano.

Furlano adds, SFR3 has been on the city’s radar since came on board with Corporation Counsel in September. Based on his understanding, and the company’s website, it is California-based real estate fund which creates varying LLCs to purchase property portfolios.

This is why 26 Burbank Street’s owner is listed as ‘SFR3-60’ — there are other LLCs with similar names, such as SFR3-20, SFR3-80, and so on.

“So in Rochester, there’s 8 different LLCs that own a bunch of property in Rochester. Now our concern, at least with this property [sic, group] – why it’s on our radar is a lot of them have double-digit violations. So 41 of these properties have double digit violations, 17 have more than 20 violations, 25 of these are vacant. 115 of them have open cases with us which means there’s at least one violation known, or no Certificate of Occupancy that we’re aware of.”

I’ve tried to reach out to the group several times over the past but have yet to receive a response.

According to Furlano, SFR3 as the parent company owns hundreds of homes in our area, all purchased within the last two years.

“My understanding is it’s within all their subsidiary LLC’s…over 200 properties….that’s my understanding, yes,” Furlano says.

“They’re distributed throughout Rochester but more so in the areas where property values are lower, a lot of high rental areas. You see there’s a lot of Beechwood here, MarketView Heights, down in the 19th ward as well, Furlano adds, while referencing a map with dozens of pinpoints indicating each property owned by SFR3.

Whether the city will take SFR3 to court is unclear, but the city will have to consider several factors.

“While we can’t comment on cases that we are going to bring — once we bring them, then we can talk about them — so we can’t comment on cases that we are considering, unfortunately,” says Furlano.

There is no cap for the number of properties an individual, group, or otherwise can own; if you are a responsible owner, you can own as much property as you’d like. Current city code states for each code violation on a property, it’s $500 per violation, per day. The City also hired additional code enforcement officers last fall along with a code enforcement trainer. According to the city, each inspector has an average of around 300 cases, or properties, they take on.

April 19, 2023

Is Boston a Good Place to Live? 10 Pros and Cons

Boston, lovingly known as Beantown, is steeped in history and brimming with cultural and academic opportunities. As one of the oldest cities in the United States, Boston has long been an attractive destination for those seeking a blend of tradition, innovation, and urban living. However, as with any city, living in Boston comes with its own set of unique advantages and challenges.

Whether you’re looking at Boston apartments or you’re buying a home in the city, you can find plenty to love. This article will explore the pros and cons of living in Boston, providing a comprehensive overview of what it’s like to call this city home. So, is Boston a good place to live? Read on to find out.

5 pros of living in Boston

Boston is known for its history and education, but there’s a lot more to the city than that. Here are five reasons why Boston can be a good place to call home.

1. Rich history and culture

Boston boasts a wealth of historical landmarks and sites, such as the Freedom Trail, Old North Church, and Fenway Park. The city played a pivotal role in the American Revolution and continues to celebrate its past through various events like reenactments and festivals. Its vibrant arts scene is also a major draw, with institutions like the Museum of Fine Arts and the New England Conservatory ensuring a rich cultural experience.

2. World-class education

Boston is home to many prestigious universities and colleges, including Harvard, MIT, Tufts, and Boston University. This intellectual haven provides tons of opportunities for top-notch education and fosters a stimulating environment for innovation and research.

3. Lively sports scene

Boston is a paradise for sports enthusiasts, with a passionate fan base that rallies behind its professional teams. The city is home to the Red Sox, Celtics, Bruins, and the New England Patriots (located nearby in Foxborough). You can attend games or watch them at local sports bars like Olde Magoun’s Saloon, Parlor Sports, and Banners Kitchen & Tap.

4. Access to nature and outdoor activities

Boston is an ideal location for nature lovers and adventure seekers. Despite its urban setting, the city offers plenty of green spaces, such as the renowned Boston Common and the Charles River Esplanade. It’s also a short drive away from beautiful outdoor attractions, like the beaches of Cape Cod, the mountains of New Hampshire, and the scenic coastline of Maine.

5. Walkability and public transportation

Boston’s compact layout, combined with its extensive public transportation system (the MBTA, or “T” as it is commonly known), makes getting around the city relatively easy and convenient. The city’s walkability not only promotes a healthy lifestyle but also allows residents to explore its unique neighborhoods, such as the historic North End, trendy South End, and the bustling Back Bay, with ease.

5 cons of living in Boston

Boston is a great city for many, but also has its downsides. Here are five disadvantages to consider before moving to Beantown.

1. High cost of living

One major downside of living in Boston is its high cost of living, which is 50{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} higher than the US average overall. Housing, in particular, can be quite expensive, with rent and property prices consistently ranking among the highest in the nation. The median sale price for a home is $767,500, which is 91{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} higher than the national average. Apartments are also expensive, with a one-bedroom apartment costing an average of $3,827.

Additionally, everyday expenses like groceries, dining out, and transportation can also be more costly compared to other cities.

2. Traffic and parking

Boston is notorious for its traffic congestion and limited parking availability, especially in popular neighborhoods and downtown. The city’s narrow, winding streets, which date back to colonial times, can make driving challenging and time-consuming. Parking permits and fees can also quickly add up.

3. Harsh winters

Boston winters can be cold, with frequent snowfall and freezing temperatures in January and February. Snowstorms and icy conditions can cause disruptions in public transportation, traffic, and day-to-day life. Strong winter storms are less likely but are a possibility, which can lead to blackouts and impossible travel. If you’re planning on moving to Boston, be prepared to bundle up, shovel snow, and navigate potentially hazardous conditions during the winter months.

4 Tight living quarters

The city’s historic architecture often means that apartments and homes have smaller square footage than more modern constructions. This, coupled with high demand and limited availability, drives up housing prices and pushes many people to live in small spaces. As a result, many Bostonians regularly deal with limited storage, shared living spaces, and cramped bedrooms. To cope, some residents have embraced minimalist lifestyles, while others find creative ways to maximize their living space.

5. Limited nightlife

While Boston offers plenty of bars, pubs, and entertainment venues, its nightlife scene may seem tamer compared to other major cities, especially in the winter. The city’s early closing times for bars and clubs (typically around 2 a.m.) and limited late-night public transportation options can be a drawback if you’re looking for a more vibrant nightlife experience.

April 17, 2023

These $400,000 Rochester homes share ‘extra character around each corner’

Apr. 16—ROCHESTER — As spring cleaning and home improvement projects kick in, home sales and inventory are improving in Southeast Minnesota.

The Southeast Minnesota Realtors association, which represents an 11-county region, reported inventory as “up slightly,” according to Eric Brownlow, association executive and government affairs director. March 2023 saw 662 homes for sale compared to 608 homes in February.

In the $400,000 to $500,000 range, about 30 homes are on the market in Rochester with 22 in March. As of Friday, April 14, 210 total homes are for sale in Rochester with 219 homes in March and 173 in February.

Rochester’s median sales price was $305,000 for January to March 2023, according to the association.

“Our market’s getting tough, tougher for price-wise,” said Dustin Kanz, RE/MAX Results Realtor. “I just think overall square footage, location and the updates in these homes is what’s dictating that they’re selling good or not. Buyers these days want move-in ready.”

Here are two Rochester houses in the $400,000 to $500,000 range.

There’s one home that readily “pops” for Dwell Realty Group Realtor Lauren Boutin — not just because of the olive green facade but from memories of growing up in Rochester. She remembers the unique architectural elements and the 1959 home undergoing modern updates.

“This has actually been one of my favorite homes in Rochester my whole life,” Boutin said. “One, the cupola over the garage was always catching my eye, and just architecture of the home, the age of it, how they’ve maintained it and currently the color of the home as well is extremely attractive.”

The five-bedroom and three-bathroom home at 510 16th St. SW is listed at $409,900.

The home’s cupola design is a small structure with air vents and a curved piece leading to a weather vane, Boutin said. Encyclopedia Britannica notes the 19th century

popularity of cupolas

as a distinguishing feature on homes in the United States. The

“ornamental architectural detail”

started in the Middle East and India in the eighth century and extended to Russia, Spain and England in the 17th and 18th centuries, according to ThoughtCo and Encyclopedia Britannica.

Boutin sees “a little bit of extra character around each corner” in the home, such as the mudroom’s in-floor heat and original bathroom tile.

“It has the vintage tile features in really good condition, which is actually, I think, a great benefit to the home. It doesn’t feel all new and sterile, it has that character to it,” Boutin said.

On the 0.79-acre lot, three of the five bedrooms are on the main floor. Boutin said the finished basement also adds extra space for family and friends. She added the “indoor-outdoor entertainment space” shines in the kitchen and backyard.

“You kind of are surprised when you walk out the back with just how much space you have,” Boutin said.

If Kanz could pitch one characteristic of a tiered home at 1014 Northway Lane NE, he’d choose the bonus room above the garage. The pitched roof system places the bonus room in the second pitch with its own door access.

“You don’t see that in too many homes above the garage, it’s nice to have that bonus room,” Kanz said.

He said the bonus room is best utilized as a hobby room or kid’s room, though the 20-by-15 space is open to many possibilities. The four-bedroom and four-bathroom home is listed at $410,000.

The updated flooring, carpet, hardwood, vanities and tiles also make the “updated modern” home a “nice move-in ready home,” Kanz said. He added the light, open spaces are showcased with “nice tall ceilings with lots of tall windows for natural sunlight coming in.”

“It’s really been updated a lot in the last 10 years, pretty much everything’s been updated. It’s got really a nice, private manicured landscape backyard with like three patio levels,” Kanz said. “They’ve got lots of flowers and water fountains, and nice features like that for privacy.”

April 14, 2023

Clarence Thomas Sold House To GOP Donor Harlan Crow, Report Says

Topline

Supreme Court Justice Clarence Thomas sold real estate to Republican donor Harlan Crow and did not disclose the sales, ProPublica reported Thursday, shedding more light on their relationship after Thomas was criticized last week for accepting luxury travel from Crow.

Supreme Court Justice Clarence Thomas allegedly failed to disclose a real estate transaction in 2014.

Getty Images

Key Facts

In 2014, real estate developer Crow bought a single-story home and two vacant lots in Savannah, Georgia, from an entity registered to Thomas, Thomas’ mother and the family of Thomas’ late brother, according to public records obtained by ProPublica.

The $133,363 transaction marks the first known instance of payments between Crow and Thomas, a week after ProPublica first reported the Supreme Court Justice had traveled on Crow’s yacht and jet without disclosing it.

Thomas reportedly never disclosed his sale of the Savannah properties, which some experts described to ProPublica as a possible violation of a federal law that requires justices to disclose most real estate sales over $1,000.

The disclosure form Thomas filed for that year had a space to report the identity of any buyers in private transactions, but that space is left blank.

Thomas’ mother continued to live in the house under Crow’s ownership, and the property underwent major renovations after the sale, including the addition of a carport and roof repairs, ProPublica reported.

In a statement to the publication, Crow said he purchased the house to preserve it with the intention of eventually making it into a public museum about Thomas’ life.

Forbes has reached out to the Supreme Court of the United States.

Key Background

ProPublica reported last week Thomas and his wife Ginni had accepted luxury travel from Crow, including sailing internationally on Crow’s yacht, flying in Crow’s private jet and vacationing at Crow’s private resort in the Adirondacks. Thomas said he didn’t disclose the trips with Crow and his wife Kathy—whom he described as “dear friends”—because he was advised that he does not need to declare “personal hospitality,” though ethics experts interviewed by ProPublica note that gifts of transportation are normally reported. Crow is the chairperson and former CEO of Crow Holdings, and is the son of Fred Crow, who founded Dallas-based real estate development giant Trammell Crow Co. Crow has also been a major supporter of the Republican party (Thomas was appointed by Republican George H. W. Bush), and was the largest donor to the Republican Party of Texas PAC during the 2022 midterm election, according to OpenSecrets data. Crow has donated more than $10 million in publicly disclosed political contributions, along with giving to groups that keep contributors’ identities secret, according to ProPublica.

Crucial Quote

“Early in my tenure at the Court, I sought guidance from my colleagues and others in the judiciary, and was advised that this sort of personal hospitality from close personal friends, who did not have business before the Court, was not reportable,” Thomas said of his relationship with Crow in a statement following ProPublica’s report. “I have endeavored to follow that counsel throughout my tenure, and have always sought to comply with the disclosure guidelines.”

What To Watch For

The Senate Judiciary Committee on Monday announced plans to hold a hearing about “the need to restore confidence in the Supreme Court’s ethical standards” in the coming days. The nine Supreme Court justices are the only federal judges not bound by the Code of Conduct for U.S. Judges, but the report about Thomas’ luxury travel has renewed calls for stricter ethics codes in the Supreme Court. Following the report, Rep. Alexandria Ocasio-Cortez told CNN Thomas should be impeached, while other Democrat Reps. Ilhan Omar and Judy Chu tweeted their support of stronger ethical standards. Before the revelations about Thomas were published, fifteen Democrats had signed a letter in late March outlining a code of ethics for justices to adopt.

Tangent

Thomas’ wife, Ginni, has also been the subject of controversy because of her alleged connection with the January 6 riots following the 2020 presidential election results. The Washington Post reported she sent two sets of emails to 29 Republican state lawmakers in Arizona urging them to overturn President Joe Biden’s win in their state. Ginni Thomas has stressed her work is separate from her husband’s, telling The Free Beacon, “we do not discuss cases until opinions are public—and even then, our discussions have always been very general and limited to public information.”

Month: April 2023