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Hawaii-based tech entrepreneur back at it with a real estate start up in the face (mask) of COVID-19


https://www.prfire.com/

● New, disruptive, online real estate website
● Thousands of virtual 3D tours to help in the times of COVID-19
● Website is Buyer and Seller focused vs most Agent-focused websites
● “Smart Price” algorithm uses public data points to suggest fair market prices

July 31, 2020

Jeff Berzolla, founder of the largest vacation rental tech company in Hawaii, has started a new online real estate company called Nalula.com. Frustrated by the lack of information he was able to find when trying to buy a home on Maui, Berzolla set about to solve the problem.

“Every day, people make the largest financial decision of their life – buying and selling a home – without good, unbiased information. At Nalula.com, we bring an unprecedented level of transparency to the real estate industry – exposing essential, hard-to-find data and hyper-current market conditions. These tools help our users make educated buying and selling decisions.”

Nalula.com collects as much data as possible about each property and is not just a regurgitation of the MLS. The site is fast, mobile-friendly, displays county assessed values for properties and recommends a Smart Price for each home, condo or parcel of vacant land based on recent comparable sales and the difference between those recent sales and county assessed values.

COVID-19 has seen an increase in online real estate searches and Video/3D tours are more coveted than ever. Most websites do not have 3D tours nor the ability to filter to show only these properties. Nalula offers users the ability to easily search for their dream property and currently has over 3000 listings with 3D tours. The site also boasts 17 filters, 9 sort functions and over 200 data points for each property.

Nalula’s Smart Price offers customers an alternative to Zillow’s Zestimate. “In doing my research, I concluded that most sites are focused on enriching real estate agents, rather than helping buyers and sellers make fair deals. I find it very misleading that Zillow’s Zestimate instantly changes when a property is listed for sale. I want our customers to know that data drives our Smart Price and we are going to constantly work to make our Smart Price smarter with each iteration of our technology.” Berzolla said.

https://www.prfire.com/

Nalula launched its beta website in Hawaii in July 2020 and plans to expand nationwide by the end of the year.

About Nalula

Everyday people make the largest financial decision of their life – buying and selling a home – without the necessary information to determine if they’re paying or receiving a fair price.

At Nalula, we strive to bring transparency to the real estate industry – exposing essential data and current market conditions – so you can make an educated buying or selling decision.

Media Contact: Jeff Berzolla
Phone: 1.808.351.5713
Email: jeff@nalula.com

Related Links
Nalula | Hawaii Real Estate

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Roey Hayon: “Real estate prices will rise in the UK- after Coronavirus lockdown”


The real estate market is mostly going on a rebound once this Coronavirus lockdown is relaxed. The prices in the housing market will surge so much due to the edging up of activity levels.

Roey Hayon says, “Before the government restrictions on movements that affected all business sectors including the real estate market, the prices of houses had grown at a very high rate since February 2017. Although this figure is from a different period, it points into a direction of optimism that the market will get better after the lockdown is eased.”

Just in April, there was a 3.7 per cent increase on an annual basis in house prices. That means the average increase in a UK home moves up from £219,583 in March to £222,915 in April. This data is calculated based on the mortgages submitted earlier in the year but approved in April.

The 3.7 per cent increase on an annual basis is an indication of significant growth during the lockdown as well as an indication that prices of houses in the UK real estate market were actually on a rebound from the uncertainties caused by Brexit before the pandemic struck.

The economic response after the coronavirus shock

As a result of the robust labour market conditions, stable political backdrop after the general election, and low borrowing costs, activities and market prices are beginning to edge up. Although the short-term economic response is still quite uncertain, the economic intervention from the government is setting the tone for a foreseeable rebound immediately after the pandemic.

“The government intervention has totalled nothing less than £330 billion. These interventions are properly set to buoy the economy at this drastic time. More so, this intervention would also help to reduce the impact of the pandemic on the real estate market than what could have been with such a huge economic shock.” Says, Roey Hayon.

Since most of the transactions that were ongoing before the lockdown started were instead put on hold than cancelled, there is a higher tendency they would be continued once the lockdown and restrictions on movement ease off as soon as possible. And this would put a limit on the impending economic damage.

Roey Hayon concludes, “The annual house prices will only enter a negative territory this year if only if there is a huge drop in demand. But with the current functionalities of things, we don’t anticipate a downward turn in house prices in the UK real estate market at any point in the immediate future.”

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Eitan Eldar: Online Tools Help Keep UK Real Estate Market Afloat During Coronavirus Pandemic


The impact of the coronavirus pandemic on the whole world is massive, with a sharp down-trend in stocks and real estates in the UK. Since the pandemic became wide-spread across the globe, it has become increasingly difficult to do business as usual for everyone, even for real estate agents, as they develop new ways of viewings and valuations. The country-wide lockdown has taken its toll on the real estate market.

As it becomes increasingly difficult to carry out business as usual, Eitan Eldar says, “The quarantine and restrictions on movement set by the government to stop the spread of the coronavirus prevented potential buyers from inspecting properties and meeting with agents. We all know this isn’t good for the real estate business, but it’s the best approach to contain the spread of the virus.”

Online tools for viewings and valuations by real estate agents

With new sales becoming virtually challenging to close, the UK real estate agents are moving online in their droves for viewings and valuations. Sellers that were already on the ground on the market have their available stock reduced just by 2.6%. However, as the government restrictions on movement and physical business transactions came to being, different initiatives have been exploited by real estate agents to reach both potential buyers and sellers.

“Showing properties online has helped to keep the real estate market afloat for all during this coronavirus outbreak. However, sales are still down,” said Eitan Eldar. “This method allowed the real estate market to stay somewhat active, compared to other fields to shut down completely. With this novel initiative, investors can still go about to check out properties of their choice and close deals even as the pandemic ravages the world”.

The focus of the real estate agents is now on video viewings of properties, allowing buyers to inspect properties they are interested in ahead of the time when the restrictions will be lifted on movements. Real estate markets have started to recover from the fall it experienced at the beginning of the lockdown.

The overall result of the pandemic on real estate

Like every other sector of the economy, the real estate industry has had its fair share of the pandemic. And the impact might still be felt even when restrictions of movements have been loosened.

Eitan Eldar says, “In the real estate market, commercial real estate continues to experience the most of the impact of the pandemic. We don’t expect a fall in the private home market, at least, not in the long run”.

https://www.youtube.com/watch?v=C-OceUHdp6E?feature=oembed

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Roey Hayon: American Real Estate Will Draw More Investors during the Coronavirus Crisis

The impact of COVID-19 on the global economy is colossal and wide-felt. With China, the second-largest economy in the world, recording the largest outbreak of the virus and suffered the greatest. The COVID-19 pandemic has disrupted the manufacturing processes and led to significant breakdowns in the supply chain, which has resulted in economic volatility. Taking a cue from how the virus outbreak has affected the Chinese economy, the American real estate market should brace up for the impact.

Revenue and growth in commercial real estate will slow

Roey Hayon says, “The US commercial real estate (CRE) would experience the hardest hit if there is a full-blown outbreak of coronavirus in the US. Production and other economic activities will ultimately reduce because workers and employees would rather stay indoors to maintain their safety. The outbreak will also considerably reduce the spending rate of consumers and increase the default rates in commercial real estate loans.”

Companies and CRE investors are planning on how to help mitigate the spread of the virus, most notably in properties where multiple people reside or work. An enhanced cleaning and disinfecting process are safe and healthy to reduce the potential spread of COVID-19. However, all investors are expected to have other back-up plans; perhaps the virus isn’t effectively contained as projected.

“The global market has witnessed a lot of impacts since the coronavirus outbreak. For instance, in the past four weeks, the three major US stock market indexes lost over 25% of their value, the Fed dropped interest rates down to 0.25%, and the bond also declined drastically to a rate that has never been witnessed before. We also saw the Senate approved $1 Trillion emergency package for COVID-19.” Says Roey Hayon.

These indicators show that the impact of the coronavirus outbreak is hardly impacting the global market.

How bad would the impact of coronavirus in American real estate

Roey Hayon says, “The depth of the impact of COVID-19 depends on how widespread the virus gets. While the number of reported cases of coronavirus in the US is still relatively low compared to the US population of 327 million people, the virus is spreading quickly. And only time will tell how volatile the market will be. However, investors can take advantage of the lowered interest rates to invest in real estate as we brace up for the impact.”

Though the US real estate markets have mostly recovered from the 2008 recession, the coronavirus outbreak could usher in another full-blown recession in 2020 and beyond if the spread continues.

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Eitan Eldar: “The UK real estate market is going to soar Post-Brexit”

Posted on: 15 Mar, Author: ebrand

The housing prices in the UK have soared and have set a record for the fastest rate of growth. This has all been achieved in just the last month. This is attributed to the boost in confidence and a good perspective on the housing market following the general election.

A 2.3% jump in the average price of new to the market prices have been seen. In 2002 the property website started its house pricing index. This 2.3% jump for this particular time signifies the biggest jump since the tracking began in 2002. The average asking price per property was £306,810. Over the month the market saw almost 65,000 listings.

Ceo & Founder of EEH Ventures has stated that even though England has gone through long and economic turbulence, this new trend of improvement is going to continue. He went on to say. “The UK markets are waking up,” said Eitan Eldar, “This is happening because of the outcome of the elections and because Brexit finally became a reality“.

 Part of the Credit Goes to the Election Outcome

 2019 saw a slow year for the UK housing prices. but this has changed since the turn of the year as prices have been on the rise. A major factor for this has been the General Election victory of Boris Johnson, the new Prime Minister. This has brought a 4.1% rise according to the January housing prices recorded by Halifax.

Expectations for real estate prices are that pricing will continue to increase. A strong indicator of this is the accounts EY producing a 2020 raised forecast of 2.8% from 2% for growth to be realized in the housing market. All of this is as a result of Brexit now becoming a reality.

 “Boris Johnson’s winning of the elections was the first indication in the process of stabilizing the economy”, said Eitan Eldar. “The pro-business conservative party winning in such a landslide gave the markets the badly needed relief”.

Following the Brexit Era

Many factors can affect the housing market, but uncertainty is a major factor that can cause hesitation among home movers. As a result of the last three and a half years of unsettlement over the EU referendum, it created a pent-up demand. This has since dissipated as a result of its settlement. This is giving a strong picture of activity for a robust spring market.

“Uncertainty about Brexit is finally over, and the British economy is expected to fully recover during the next few years “, said Eitan Eldar and added: “As uncertainty about Brexit is being replaced with optimism, we will see a lot more people buying homes and investing in real estate – UK real estate is soaring”.

 Overall the British population is on a bit of a roller coaster with their mix of emotions of anxiety and excitement.  All as a result of the history-making separation of the United Kingdom from the European Union which became official on January 31, 2020. Only time will tell as to what the impact of this happening will have on the Brexit economy. When it comes to market recovery, there is no need to wait to see the recovery as the evidence is already present.

https://www.youtube.com/watch?v=CKJKOsxmfhc?feature=oembed

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