Mortgage And Real Estate News

Friday, August 31, 2018

The $1 billion price cut: Luxury real estate gets slashed

The most expensive real-estate in America just became a little less expensive — with $1 billion in price cuts among America's top listings over the past few months, according to a CNBC analysis.


Wednesday, August 29, 2018

Ross Stores, Inc. Leases 1,003,071 Square Feet of Industrial Space in the Wonderful Industrial Park

SHAFTER, Calif., Aug. 29, 2018 (GLOBE NEWSWIRE) -- Wonderful Real Estate announced that it has negotiated a lease with Ross Stores, INC (Ross) for 1,003,071 square feet of industrial space at 4100 Express Avenue in Wonderful Industrial Park (WIP), a fully-entitled 1,625-acre, world-class distribution center located in Shafter, California. 

Wonderful Industrial Park is a rail-served industrial development entitled for 26 million square feet and currently has 7.6 million square feet of completed buildings. Shafter is 18 miles north of Bakersfield on CA-99 and about 20 minutes to Interstate 5 in California’s Central Valley.

“We are very pleased that Ross chose Wonderful Industrial Park for its expansion. They have enjoyed success here, as have other retailers, manufacturing and distribution companies because of the ready access to a dependable labor pool living within minutes of the park. Further, occupants of WIP have benefitted by having exceptionally large trailer and equipment parking space that has increased the efficiency of importing goods from the Ports of Los Angeles and Long Beach,” said Joe Vargas, President of Wonderful Real Estate Development.

The industrial park’s location allows access to 14 percent of the U.S. population within 300 miles and same-day delivery to 30 million Californians. It has a FedEx Ground hub onsite and a UPS ground hub in Bakersfield, CA with Meadows Field Airport located only seven miles away.

Ross has been an occupant of Wonderful Industrial Park since 2014 and currently owns a 1.7 million square foot distribution center located near 4100 Express Avenue. WIP is also home to corporate industrial users including Target, American Tire Distributors, Essendant, DMSI, MRC Global, and Formica. The park features an onsite rail yard with more than 17,000 feet of track to accommodate unit trains with direct access to Burlington Northern Santa Fe (BNSF) Railway’s mainline.

The Wonderful Company develops, manages and invests in a diversified portfolio of real estate, with a particular focus on office and industrial properties. Wonderful Real Estate and its affiliates have invested almost $2 billion since 2008 for commercial real estate development, facility improvements, processing equipment and real estate acquisitions. 

Monday, August 27, 2018

Study: Most Millennials Don’t Have a Qualifying Credit Score

Millennials could stand to make some improvements to their credit files. Only 39 percent of millennials without a mortgage have a prime or better score, and the majority are facing higher delinquency rates on personal loans, shows a newly released study from Experian, an information services company.


Sunday, August 19, 2018

Some not-so-tiny obstacles in the growing market for tiny houses

When Tom Alsani heard about plans for a tiny-home community in St. Petersburg, he got so excited he immediately wanted to know more.


Ready to rent a home? Beware of these new scams

Renting an apartment or a single-family home may seem easier than buying one, especially as so much of the process is now streamlined online.


Friday, August 17, 2018

A New Home for $90,000? Manufactured Housing Is Making a Comeback

While others walked away from manufactured homes, Don Glisson Jr. stuck around.

He's seen the industry's ups and downs in his 36 years working at Triad Financial Services, the third-biggest lender to buyers of factory-made houses in the U.S. The rock-bottom was in the early 2000s, when rival firms were getting fat on subprime loans.


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