Only by leveraging new technologies like mobile apps, cloud storage and automated reporting can inspections deliver real value to buyers, sellers and lenders.
Real estate purchases should never be made lightly. The more substantial the investment, the more critical it is to make sure that everything is as advertised. Nobody wants to discover post-purchase that their newly acquired property needs significant work they hadn’t planned for, with associated costs that should have been calculated prior to making a deal. For this reason, due diligence walks—thorough physical inspections performed before the final paperwork is signed—are a standard component of just about every real estate transaction.
The city of Detroit and Detroit Housing Commission are again embarking on an effort to secure up to $30 million in U.S. Housing and Urban Development grant funding to redevelop the former site of the Brewster-Douglass housing projects.
The Choice Neighborhoods grant would be a key financing piece in the city’s effort to redevelop the 22 acre site, one of the largest residentially-zoned plots of land in an area that has attracted attention from many developers in recent years.
As communities across the south focus on immediate concerns such as saving and protecting lives and property and bringing badly-needed resources to the area, the costs inflicted by the recent hurricanes will be felt for months and years to come. NMHC/ NAA will closely monitor the aftermath of Hurricanes Harvey and Irma with our members and will work with state, local and federal officials to ensure the disaster recovery and housing needs of those affected are met.
The past few years have been extremely favorable to the multifamily market. Developers are building apartments to catch up on a lull of construction over previous years in a race to complete projects and capitalize on continuously rising rents. Investors are aggressively seeking opportunities to purchase multifamily properties, specifically core and value-add assets in top-tier markets, pushing cap rates as low as 4%.
A new report by Detroit Future City called 139 Square Miles, funded through the Knight Foundation, compiles a slew of Detroit data points to help understand where Detroit has been and where we might be headed. The report has data in four areas: population, economy, people, and place. This includes population trends in terms of age and race, where jobs are located and how much they pay, how people get to work, and how housing stock has changed.
The third Greater Downtown Residential Market Study has just been released by the Downtown Detroit Partnership (DDP), in collaboration with Invest Detroit and Zimmerman/Volk Associates, Inc. How is the greater downtown area doing in terms of demand and need for housing? With increased units available over the past few years, we’ll need more to meet demand in the coming years.
Beyond what should be normal conversations and an insatiable curiosity within the value streams, some factories still have employee suggestion systems. These typically have a cash payout of some amount for good ideas that get implemented. If it works in your culture, great. My experience, however, has been that most of the suggestions that come to our attention this way do not warrant the assignment of resources—there’s simply no bang for the buck. There’s also a fair amount of administration required and lots of communication necessary (it can become a resource hog) to close the loop with each person for those ideas that won’t be pursued, and why.
Follow this three-step process to hold an employee accountable for a mistake without taking a punitive approach.
The state of the economy will often dictate how much growth certain industries are experiencing, which can influence their business decisions and modernization requirements. Consequently, Ultra takes a huge interest in world economic affairs, with special focus on the U.S. manufacturing and distribution industries. August’s state of the economy update includes facts and figures captured in July, as well as details about events that have major sway over the economy.
Is this your reality or are you making excuses and not really wanting to work harder than you currently do? ‘Are these real or are they excuses? In theory, everyone can be more efficient and therefore, it is possible to see one more patient per day or get home on time.