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R. Kelly’s Olympia Fields mansion hits market for about $1.6M

Grammy-winning R&B singer R. Kelly has placed his 22,000-square-foot mansion in south suburban Olympia Fields on the market for $1.595 million.

The Chicago-born Kelly, 44, built the gated 16-room mansion in 1997. During the summer, the mansion made the news for being the subject of a $2.9 million foreclosure lawsuit, with Kelly having failed to make monthly mortgage payments for more than a year. According to reports at the time, Kelly's aim in not making payments was to prompt his lender to renegotiate his loan.

Now, Kelly, whose real name is Robert S. Kelly has listed his six- bedroom mansion in a short sale, meaning that he owes more on the property than it is worth. Features include eight full baths, six half baths, four fireplaces, an indoor pool and a theater room. Outside are private wooded land, a private lake and 12-foot wrought iron and concrete-encased fencing.

"It's a fabulous house with a lot of great features," listing agent James Mattz of Century 21 Pro-Team exclusively told Elite Street. "Whoever buys it at the price we're marketing it at is going to get an incredible value." 

Source: ChicagoTribune.com

Article publié pour la première fois le 31/01/2013

Re/Max prices IPO, expects to raise at least $177 million

Some proceeds will be used to buy back franchising rights in 2 regions

Franchisor Re/Max Holdings Inc. announced today that it has priced an initial public offering that it expects will net at least $177 million.

The franchise network, which serves more than 90,000 agents in 6,300 offices and 90 countries, said it will offer 10 million shares that it expects to be priced between $19 and $21 per share. Re/Max also said it intends to grant the underwriters of its IPO a 30-day option to to buy up to 1.5 million additional shares.

After deducting underwriting discounts and estimated offering expenses, Re/Max expects net proceeds of $177 million from the offering, assuming an IPO price of $20 per share. If underwriters fully exercise their option to purchase additional shares, the net proceeds will total $205.2 million, the company said in an amendment to its S-1 registration statement with the Securities and Exchange Commission.

It’s the latest in a string of real estate IPOs that have captured the attention of investors. Franchisor Realogy and listing portals Zillow and Trulia all have pulled off successful IPOs, with the stock prices of the second two skyrocketing this year.

Re/Max, which currently owns the right to sell brokerage franchises in 10 of its 32 franchise regions in the U.S. and Canada, said previously that it planned to use $27.3 million of the proceeds from the IPO to reacquire franchise rights in the Central Atlantic and Southwest regions to boost its percentage of U.S. and Canadian agents to 54 percent from the current 46 percent.

The company said it also intends to use the cash to redeem preferred membership interests and repurchase ownership stakes from existing shareholders.

Reacquiring franchise rights in a region “substantially increases our revenue per agent and provides an opportunity for us to drive enhanced profitability, as we receive a higher amount of revenue per agent in our company-owned regions than in our independent regions,” the company disclosed in its registration statement.

Re/Max reported $143.7 million in revenue for 2012, with 91 percent coming from its operations in the U.S. (74 percent) and Canada (17 percent), and net income of $33.3 million.

In 2012, the annual revenue per agent in company-owned regions in the U.S. and Canada was approximately $2,288, compared with $803 per agent in independent regions.

remax regions Re/Max prices IPO, expects to raise at least $177 million

Re/Max franchise regions. Source: Re/Max regulatory filing.

Since 1998, Re/Max said it’s reacquired franchise rights in seven independent regions, which as of Aug. 31 accounted for 28,496 Re/Max-affiliated agents. There are 5,885 Re/Max-affiliated agents in the two regions where reacquisition of franchise rights are pending.

“We intend to continue to pursue reacquisitions of the regional Re/Max franchise rights in a number of independent regions in the U.S. and Canada,” the company said.

As the real estate market continues to rebound, big players in the industry are capitalizing on the growing positive perception, and cash flow, that the industry is garnering.

Zillow and Trulia, which organized successful IPOs in 2011 and 2012, respectively, have seen their shares soar recently, and Realogy’s IPO is allowing it to pay down its massive debt.

Some industry observers say that Re/Max’s IPO has gone public partly to raise some cash to compete, both in technology and in public mindshare, with the likes of Zillow, Trulia and their older sibling realtor.com operator Move Inc.

“The highly visible success of Zillow, Trulia and Move Inc. over the past few years may have overshadowed ‘traditional’ real estate companies, and Re/Max is making a bold move, reposturing itself and its 90,000-plus agents,” Jude Galligan, an agent in Austin, Texas, and co-founder of photo-based referral network Homespin, told Inman News last month. “I think this is just the beginning.”

In its S-1 registration statement, Re/Max says its business strategy is “to continue to sell franchises and recruit and retain agents.”

The company — which claims to have held the top market share among franchisors since 1999, measured by total U.S. and Canadian residential transaction — says it sold 739 franchises globally in 2012, and expects to sell “an equal or greater number of franchises” in 2013.

Factors that are key to driving growth include the company’s brand name awareness, experienced and productive agents, leading market share, Web traffic, and high level of customer satisfaction, Re/Max said.

Agents affiliated with the Re/Max franchise network generally pay a pre-agreed fee that helps pay for overhead and other fixed costs of the brokerage, retaining “a high percentage of commissions” in return. That’s a model “that is highly attractive to high-producing agents,” the company said.

On average, agents working with Re/Max-affiliated brokerages were involved in 17 transactions in 2012, about twice the industry average, the company said, citing Real Trends survey data.

2012 transactions per agent at franchisor-affiliated brokerages

franchisor transactions per agent Re/Max prices IPO, expects to raise at least $177 million

Source: Real Trends via Re/Max regulatory filing.

At $63,482, the median annual commission income for U.S. Re/Max agents in 2012 was 46 percent higher than the median annual income for U.S. Realtors, the company said, citing statistics compiled by the National Association of Realtors.

The company also said its LeadStreet referral system, which provides information on prospective buyers and sellers free of referral fees “is a major competitive advantage in that no other national real estate brand provides their agents with comparable access to free leads.”

LeadStreet generates leads when consumers visit the franchisor’s websites, which include remax.com, global.remax.com, theremaxcollection.com and remaxcommercial.com. Collectively, those sites attracted more than 52 million visits in 2012, the company said, citing Experian Marketing Services Hitwise data. Since 2006, the websites have generated more than 12.4 million leads to Re/Max agents.

Copyright 2013 Inman News

Article publié pour la première fois le 20/09/2013

Reverse Mortgages Need Self Policing? NCOA Lists Product Myths

NewImage31 Reverse Mortgages Need Self Policing? NCOA Lists Product MythsReverse Fortunes Weekly Podcast Episode #217

On the heels of a reverse mortgage report released by the Consumer Financial Protection Bureau, recent comments from Consumers Union have resurfaced regarding regulation and oversight of the products and market. While recent changes within the industry are encouraging, Consumers’ Union’s Norma Garcia says there is still some work to be done. 

The latest Reverse Fortunes’ podcast takes a look into those comments in addition to recent scrutiny over the fixed rate versus adjustable rate reverse mortgage options.

Reverse Fortunes’ Shannon Hicks also talks about the recent CFPB report, its methodology and in contrast, a 2010 study that polled borrowers finding an overwhelmingly favorable response to the loans.

To listen login or become a free member to access past & current episodes.

Talking Points:

  • Self-Police Yourself
  • What they really would have said…
  • A known variable. The FRM.
  • NCOA debunks reverse mortgage myths.

Listen now“Reverse Fortunes is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editors Note: These posts are sponsored by Reverse Fortunes.


 Reverse Mortgages Need Self Policing? NCOA Lists Product Myths  Reverse Mortgages Need Self Policing? NCOA Lists Product Myths  Reverse Mortgages Need Self Policing? NCOA Lists Product Myths  Reverse Mortgages Need Self Policing? NCOA Lists Product Myths  Reverse Mortgages Need Self Policing? NCOA Lists Product Myths

 Reverse Mortgages Need Self Policing? NCOA Lists Product Myths

Article publié pour la première fois le 31/07/2012

Miss. killer overpowered detective during questioning

Man was inside police headquarters, under arrest in connection with homicide case.

 Miss. killer overpowered detective during questioning  Miss. killer overpowered detective during questioning

 Miss. killer overpowered detective during questioning

Article publié pour la première fois le 05/04/2013

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Article publié pour la première fois le 19/07/2012

2010 – Bosquet Des Papes Boiron Cotes Du Rhone

Please note, orders are processed on a first come basis. If you leave the wine in your cart for even a few minutes it might have already sold out as our stock quantity is removed when you submit the order in final, not when you add it to your cart!

You will get two emails from us with regards to your order. The first email from us only confirms that we received your order. The second email will confirm that we have enough wine to fill your order. Due to the high volume of sales there are times when the wine has sold out, but our system is still updating and shows it as available. We’re sorry for any inconvenience and will do what we can to fill your order!

Thanks to your feedback we might bring back some of Cinderella Wine’s popular previous offers. If a wine makes another appearance here, this newer offer will always be slightly higher than the original one. Offers that are on the site on Friday through Sunday will be shipped on Monday.

Best Price on Web is determined by Wine-Searcher Pro prices as of yesterday: Wine Library sells this for our sale price of $14.98. There are 4 other stores that sell this wine from $15.99 to $19.99. You must be logged into the Pro Version of Wine Searcher to see all of the results. Please note, we are not taking virtual inventory into account.

Free shipping on orders of 6 bottles or more!

Article publié pour la première fois le 26/03/2013

Fiserv, Social Assurance Partner to Offer Social Media Management and … – Investor’s Business Daily

 Fiserv, Social Assurance Partner to Offer Social Media Management and ...   Investors Business Daily
Fiserv, Social Assurance Partner to Offer Social Media Management and
Investor’s Business Daily
BROOKFIELD, Wis.–(BUSINESS WIRE)–Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today it has signed a reseller agreement with Social Assurance to extend access to social media marketing 
Social Assurance launches new platform, partners with FiservSilicon Prairie News

all 3 news articles »

Article publié pour la première fois le 06/09/2013

TMobile Sidekick 4G Rubberized Rainbow Zebra SnapOn Protector Case Faceplate

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TMobile Sidekick 4G Rubberized Rainbow Zebra Cell Phone SnapOn Protector Case One of a Kind Designs We at Wireless Emporium strive to give our customers the best in style and functionality. We work hard to find you the best designs and find unique and hard to find vendors that provide these cool looking cases and proudly sell them to you guys at a cheaper price than our competitors. With that said, showcased is our Rubberized Rainbow Zebra snapon faceplate for the TMobile Sidekick 4G and you can be assured that with this awesome eye grasping design comes effective protection Protection at Its Finest We know how it feels to drop a new phone, or breaking something valuable you just bought, which is why a protective shield like this is absolutely necessary for such a hefty investment. Get this faceplate and be assured that this case will prevent any future scratches and dust, while also providing some resistance to shock damage protecting your phone from the horrible black screen of death If this description isnt convincing enough, just watch our video on how much protection faceplates really offer here Say Your Final Goodbye to Scratches While this case provides you with much protection, its also important to realize that your screen is left vulnerable to damage since this case doesnt come with a screen protector. Luckily, we provide you with screen protection and offer them at the best price available online here…

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Article publié pour la première fois le 06/08/2012

Does James Packer think Zillow will disintermediate real estate agents?

With Zillow’s stock having already tripled in price this year, it’s been hard for some to get a handle on this week’s news that Australian billionaire James Packer’s has shelled out $298 million to take a 9.3 percent stake in … Does James Packer think Zillow will disintermediate real estate agents?

Article publié pour la première fois le 07/09/2013

Apple iPod Nano 6th Gen Skin Illusions

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Forget about those hard cases, thick epoxy or silicon skins that bulk up your devices and making them look fat and hard to hold. DecalSkin covers the front and back of your Apple iPod Nano 6th Gen and does not add any volume or weight, so you can keep it original with a great new look Made with RapidAir technology ensures bubblefree application and stressfree removal. Once applied, DecalSkin covers up old ugly scratches and protects the device surface from occasional nicks and scratches. DecalSkin is not a paper sticker, it leaves no harmful residue when removed, so you may change your skin as often as you change your clothes….

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Article publié pour la première fois le 10/08/2012

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