Home Builder Developer - Interior Renovation and Design

Steve Harvey and Tyler Perry with the house (Credit: Jim Spellman/WireImage and Cindy Ord, via Getty Images, and Atlanta Fine Homes Sothebys International)

Steve Harvey is the new owner of a sprawling estate outside Atlanta once owned by his friend, actor and producer Tyler Perry.

The comedian and TV host paid $15 million for the 17-acre property, according to TMZ. The main house is nearly 35,000 square feet with seven bedrooms and a slew of amenities.

The most extravagant might be the underground ballroom. Theres also a wine cellar, gym, theater and an indoor resistance pool.

The grounds include a lighted tennis court, infinity pool, a guest house, and a runway for remote-controlled planes.

Perry bought the estate in 2007 for $9 million and sunk several million dollars into a renovation. He sold it in 2016 to evangelist David Turner for $17.5 million. Turner put the property on the market in 2018 for $25 million.

The two have been friends for a number of years. Harvey made a cameo appearance in at least one of Perrys films, 2009s Madea Goes to Jail.

Harvey hosted Family Feud and his syndicated radio show in Atlanta for most of the last decade, but in 2018 moved both productions along with his now-canceled talk show to Los Angeles, according to the Atlanta Journal-Constitution.

Harvey rented a mansion in Beverly Park, but theres no word if hes locked down a more permanent home in the L.A. area. [TMZ] Dennis Lynch

Read the original here:
Steve Harvey picks up friend Tyler Perrys old Atlanta mansion for $15M - The Real Deal

As a homeowner or investor, it's easy to want to upgrade and improve your home to the highest possible quality and standard. It only seems logical that using the best materials, finest finishes, or top-of-the-line upgrades should get you the most bang for your buck. But in reality, some renovations won't justify the cost when it comes time to sell.

Whether you're a homeowner doing some home upgrades or an investor rehabbing an investment property, learn what it means to over-improve a property and ways to avoid it.

Over improving a property means the total cost of the improvements exceeds the value the improvements add to the underlying property value. Essentially, the property owner is unable to recoup the money spent when it comes time to sell the property.

There is no denying that certain improvements can increase property value, but the extent of the renovation, the type of finishes, or the size of the renovation job can add or detract from the total recoupable value.

It's fairly common for homeowners to over-improve their homes because they're upgrading to their preferences and taste and likely desire the best quality and features they can achieve for their money. This may be nice while you live in the home, but the cost of the improvement may not be justified in the long run when it comes time to sell. Below are some of the ways investors and homeowners can avoid over-improving their homes and make sure they get the most from their renovation dollars.

While features, upgrades, and improvements are one factor in a property's value, location also plays a key role. Real estate, especially residential real estate, is largely valued by comparing the subject property to similar properties in the immediate market, which are called comps. Home buyers are expecting to pay within a general price range to obtain a certain quality of housing for that neighborhood. So when a home has exceeded those standards, especially to a large degree, there will be limited comps to justify a dramatic increase in price or value.

Before starting a renovation, property owners should first look at the quality of upgrades and type of features other homes in their immediate neighborhood have, and then aim to match the standards of the market. For example, if no one has a pool in your neighborhood, spending $30,000 on a pool installation could cost more than the value it will bring. However, if 75% of the homes in your neighborhood have a pool and people shopping for homes in that area want or expect that, it likely would increase your property value in the long run.

Marble or quartz countertops may be top of the line or a trending kitchen feature, but if you live in a neighborhood where most kitchens have laminate counters, it's highly unlikely that this upgrade will be repaid in the long run.

If all of the homes surrounding your property are between 950 square feet and 1,200 square feet and you decide to build a home addition that brings your home up to 2,000 square feet, there will be limited comps to justify an increase in value.

Matching the market is key. Being the nicest home on the block rarely brings your personal property value up, as the greater neighborhood dictates values for the area.

Some improvements have a higher return on investment than others. For example, installing a new roof if yours is on its last legs is a worthwhile investment. Small improvements, in most cases, produce the greatest return, especially if you're preparing your home to sell. Painting walls may not seem like a big upgrade, but changing your multi-color walls to a more neutral color that matches current decor trends will be more appealing to buyers and is a low-cost upfront investment. Painting your kitchen cabinets or adding a new backsplash may be a relatively cheap improvement that will get you a greater return than a full kitchen remodel would bring.

It can be challenging to know which upgrades are worth the cost and which aren't. Enlist the help and advice from a Realtor in your area. They can help advise you on what improvements would be valued in your market or what would be an over-improvement.

In the end, don't forget that you're the one living in your home. While it's wonderful if you can add value to your property and create equity through improvements, how long you plan to be in the home and the level of comfort you're trying to achieve also comes into play. Just make sure you're comfortable with the cost and are aware of how much value an improvement will bring once completed.

Read this article:
Over Improving Property: What it Means and Why You Should Avoid It - Motley Fool

David and Victoria Beckham recently submitted plans to the West Oxfordshire District Council in order to make some renovations to their Cotswolds home. One such addition to the property is a gatehouse and security hut, which includes 24-hour guards. However, their neighbors have voiced opposition to these planned changes.

According to The Sun, one of the neighbors said that adding the gatehouse would ruin the upscale neighborhood. They reportedly believe that the changes would ruin the ambiance of the area. One neighbor, John Walsby, said that "Farms and agricultural buildings do not have gatehouses and security huts." He said that these efforts are totally out of keeping with the area.

The current plans and objections are in the councilors' possession. They will review the materials and make a determination about whether or not to allow the new renovations. They could make a decision in the coming weeks.

One reason for the proposed security hut is a violent incident involving Tottenham Hotspur midfielder Dele Alli and his girlfriend. Two men in black balaclavas broke into Alli's North London property on May 12 and held them at knifepoint. The robbers took several items including jewelry and watches before fleeing the scene.

The Beckhams currently have two full-time security guards on their staff. These guards would spend 24 hours a day in the hut, provided officials approve the plans. The Beckham's also said that the hut would "improve security for occupants" of the mansion and the surrounding grounds.

In addition to the hut, the proposed plans include other significant changes to the property. The Beckhams want to build an escape tunnel that will run from the main house. It will end in the wine cellar underneath their garage. They also want to add three more bays to their garage, increasing the total to seven.

While the majority of plans focus on their home security, the Beckhams also submitted a proposal for a "granny flat. This detached outbuilding would provide visiting guests with a place to stay during their visits to the Cotswold mansion. However, this will not be a simple guest suite.

"David and Victoria want their version of a granny flat," a source told The Sun. "But far from this building being on the side of your house with a small kitchen, bedroom and bathroom, they're going all out. The fancy building is being built in the same materials as their main house and will have a swanky kitchen, bathroom and bedroom for guests."

See the rest here:
David and Victoria Beckham's Neighbors Are Fuming Over Their Latest Home Renovation Plans - PopCulture.com

From tomorrow, all types of renovation work, including new and previously suspended projects for non-residential premises, will be allowed to submit applications to start work, said the Building and Construction Authority (BCA) yesterday.

The resumption of renovation works for home owners will be dependent on the companies' availability of manpower and supplies.

If companies employ construction work permit and S Pass holders, and if these workers were not listed in earlier approved applications to restart suspended residential renovation works, companies should also submit applications to BCA to seek approval for the workers.

Previously, only construction projects that had been suspended during the circuit breaker period could apply to restart work.

More than 19,000 suspended home renovation projects have received approval to resume since the circuit breaker period ended on June 1.

The BCA has also approved the resumption of work for more than 300 construction projects. The authority is working closely with construction firms on another 250 projects to help them meet the requirements necessary for their projects to resume safely.

In a Facebook post yesterday, Second Minister for National Development Desmond Lee said some renovation contractors whose workers are residing in dormitories that have not yet been declared clear of the coronavirus by the Inter-Agency Taskforce will have to wait for clearance before the workers can resume work.

He said: "We are also aware that some workers may still be in Malaysia and cannot travel to Singapore. There are contractors who may be unable to secure certain materials due to supply chain disruptions. For these reasons, there may still be delays in the renovation works even after approval has been given."

The BCA has worked with trade associations and chambers, including the Singapore Contractors Association and the Micro Builders Association of Singapore, to develop guidelines for companies resuming construction work.

Companies can assess their readiness to resume work by filling in an online self-assessment form at this website to find out if a project has met the required criteria to resume.

Based on the results of the self-assessment, companies that are ready to resume a project will receive an e-mail with a link for them to apply for approval to restart work.

Upon receiving approval from the BCA, construction workers residing in private residential properties and Housing Board premises can start work.

Workers residing in dormitories will be able to work only after their dormitories have been cleared.

All construction workers who are work permit or S Pass holders will subsequently need to undergo regular Covid-19 testing after they start work. The BCA will assist companies with scheduling these tests.

Local interior design firm TBG Interior Design managed to have all 12 of its suspended home renovation projects resume work earlier this month. The firm's director, Mr Michael Ong, said he has five new projects that have been on hold.

He said: "The home owners are very eager to start on the renovations. But it will not be so easy as manpower is tight."

He currently has 15 available workers, with another eight who are either residing in dormitories that have not been cleared, or stuck in Malaysia or India.

He said: "It will be tough to manage all the projects since manpower is spread thin."

See the original post:
Coronavirus: All types of renovation projects can apply to start work - The Straits Times

BCA noted that the resumption of renovation works will depend on the companies availability of supplies and manpower.

The Building and Construction Authority (BCA) on Saturday (13 June) announced that over 19,000 suspended home renovation projects have been given the approval to resume work.

New home renovation works as well as new and previously suspended renovation projects for non-residential premises can resume from 15 June.

BCA noted that the resumption of renovation works will depend on the companies availability of supplies and manpower.

It added that companies can submit their applications to BCAif their workers are Construction Work Permit and S Pass Holders and if such workers were not listed in earlier approved applications to restart suspended residential renovation works.

Upon receiving BCA approval, workers residing in HDB premises and private residential properties can start work. Those residing in dormitories, however, can only start work once their dormitories have been cleared of Covid-19.

All construction workers who are Work Permit or S Pass holders, will subsequently need to undergo regular COVID-19 testing after they start work. BCA will assist companies with scheduling these tests, explained BCA.

Companies conducting renovation works also have to comply with BCAs COVID-Safe Workforce and COVID-Safe Worker Accommodation and Transport criteria, as well as the Ministry of Manpowers (MOM) Safe Management Measures at workplaces.

Aside from renovation work, BCA revealed that it has also allowed over 300 construction projects to resume work. It added that it is also closely working with construction companies on another 250 projects to help them resume work safely.

This is necessary to prevent another COVID-19 outbreak among construction workers, who account for the majority of COVID-19 cases in Singapore, it said.

Looking for a property in Singapore? VisitPropertyGurusListings,Project ReviewsandGuides.

Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, emailvictorkang@propertyguru.com.sg

Read more:
More than 19000 suspended home renovation projects given green light to resume - PropertyGuru Singapore

We are just beginning to rebuild Europe after a period of unprecedented economic, social and personal turmoil. With this spirit of renaissance in our hearts, there has never been a better time to rethink and renovate the buildings that shelter us. Creating a renovation wave in Europe now is key to any economic recovery and will be central to getting the EU back on its feet.

Presenting proposals for a Recovery Package and revised EU budget to address the immediate economic and social damage brought by coronavirus, the European Commission said this was Europes moment. EU spending must be rethought in order to repair and prepare for the next generation, the Commission said.

This is the mindset we need for the coming weeks, months and years. Repair and prepare. Renovate. Make buildings fit for the future and the challenges it will hold: including climate change and energy poverty, along with the need for a healthy indoor environment, made only too clear by the long days spent at home to reduce the spread of the virus.

As Chairman of Eurima, the European Insulation Manufacturers Association, I was glad to hear the Commission state that investing in a large-scale renovation wave has enormous potential to get Europes economy growing, as part of the economic recovery package.

EU leaders are due to hold high level talks about the proposal at a summit meeting (online, of course) later this week. I hope they will take the opportunity to acknowledge this renovation potential.

Renovating buildings has the potential to positively impact every EU inhabitant and business. It supports local jobs and develops competitive EU business practices. Buildings including hospitals, schools, and houses, which have been pushed to the front of our minds by recent events, all need to be built or renovated to the highest energy-efficiency, health and comfort standards.

Together with my colleagues in the sustainable building sector, we were sorry not to see any clear renovation fund so far set out in proposals for economic recovery. Dedicating money to help the 50 million EU citizens who live in leaky houses that they cannot afford to heat or cool properly must now be a priority for the detailed Renovation Wave proposals the Commission has scheduled for September.

Europe must make financing quickly and easily available to deeply renovate some millions of the unhealthiest buildings across Europe over the next two years. That also means swiftly agreeing a supportive and coherent regulatory environment, one that enables coordinated national actions and clear data on buildings and renovation rates and costs.

Deep renovation can steer Europe towards a more sustainable and resilient economy. Introducing minimum energy performance standards is needed to help the EU hit both a renovation target of 3 percent per year while, at the same time, delivering its 2050 Climate Neutrality target.

It remains true that we need to keep flexibility in our renovation policies: there is no one size fits all template for every building and strategies need to be adapted at the local level. But agreeing now on specific, implementable, straight forward EU action can help us to avoid losing momentum while arguing about who does what.

This means setting milestones for different sectors of the existing building stock, in order to encourage market players and investors to support a highly energy-efficient and decarbonised building stock by 2050. At the same time, we need to agree on specific measures for the sectors where demand can be increased more quickly, such as public buildings and in particular hospitals, schools and affordable housing.

Eurima, as part of the Renovate Europe Campaign, has set out the case for the creation of a Renovation Fund for all Europeans to address inequalities in building stock and ensure that energy renovation of buildings plays a central role in getting Europe back on its feet [add link or footnote https://www.renovate-europe.eu/about-the-campaign/renovation-fund-for-all-europeans/ ] Eurima has also published guidelines setting out the case for an EU-level scheme for minimum energy performance standards for existing buildings and explaining why they should become the cornerstone of an EU Renovation Wave [add link or footnote https://www.eurima.org/uploads/ModuleXtender/Publications/185/Eurima_Renovation_Wave_MEPS_4-pager_31_03_2020.pdf%5D.

Creating a renovation wave in Europe is key to any future economic recovery package, not only for the current generation but also for future generations. Expectations are high and needs are great, but the solutions are there. As we begin to tentatively move out this unprecedented health crisis, let redesign and renovation lead us to a brighter future.

Pascal Eveillard is the Director for Sustainable Construction of the Saint-Gobain Group, and the Chairman of Eurima, the European Insulation Manufacturers Association.

https://ec.europa.eu/commission/presscorner/detail/en/QANDA_20_935

Originally posted here:
Rebuilding Europe: Deep energy renovation should be the heart of EU economic recovery - EURACTIV

The green recovery and next phase of planning the Oxford-Cambridge Arc have created the perfect opportunity to realise all of these benefits, and the Natures Arc principles show how, says the Woodland Trust | Credit: Woodland Trust

Some of the UKs leading nature conservation charities have produced a blueprint for how plans for up to a million new homes can include nature to create happier and healthier communities for people and wildlife.

Nature must be at the heart of plans to build new houses.

With plans starting to take shape to build up to a million new homes in what is known as the Oxford-Cambridge Arc, conservationists are asking the Government to look at this as the perfect opportunity to invest in nature, improve peoples lives and realise the green recovery by building the new nature friendly towns and communities everyone wants to see.

This year the importance of being able to get out into nature and discover wildlife where we live has become clear, and this has been underlined by figures released last week by the RSPB that showed widespread public support for investing in and increasing nature and natural greenspace in our recovery from the coronavirus crisis.

To show how this could be done, the Wildlife Trust for Bedfordshire, Cambridgeshire and Northamptonshire (WTBCN); Berkshire, Buckinghamshire and Oxfordshire Wildlife Trust (BBOWT); the RSPB; and the Woodland Trust have jointly published a set of principles for protecting and restoring nature and tackling climate change as part of growth and development proposed for the Oxford-Cambridge Arc.

The Natures Arc principles emphasise the importance of access to nature and natural greenspace for the health, wellbeing, wealth and resilience of people and communities.

Using these principles, Government can make a commitment to a new standard for sustainable development that will benefit wildlife, tackle climate change and build healthier neighbourhoods for people.

Investing in nature and increasing and enhancing the regions green infrastructure its parks, trees, woodlands, nature reserves and other natural green spaces would benefit local people, the economy and the environment, making the Arc a better place for people to live and work, and for businesses to invest.

The greenrecovery and next phase of planning the Oxford-Cambridge Arc have created the perfect opportunity to realise all of these benefits, and the Natures Arc principles show how.

Matt Jackson, Conservation Manager at BCNWT said: Recent months have underlined just how vital nature and greenspaces are for our wellbeing.

"We each have concerns about the impacts on nature from the growth arc, but we share aspirations for the area too. By putting nature first as the Arc evolves, people can benefit too - a thriving natural environment that supports healthy and sustainable lifestyles is achievable if these three steps are taken.

This could be a model for development that respects, protects and restores nature, in particular vulnerable natural heritage like ancient woodland.

Matthew Stanton, Head of Planning, Policy and Advocacy at BBOWT said: Given the nature and climate emergency we are in, business as usual for new development is not an option. Restoring our natural environment needs to be at the heart of plans for the arc.

"This is a once in a lifetime opportunity to create a landscape in which people can benefit from a thriving natural environment that supports healthy lifestyles. Where growth is given the go ahead, the needs of nature must be a priority.

RSPB Operations Director for Central England, Jeff Knott: The importance of nature during the Coronavirus crisis and support for a green recovery have made the need for growth and development to help restore nature clearer than ever.

"This is a huge opportunity to do things differently. For the Oxford-Cambridge Arc to play its part in a green recovery it needs to have world leading ambitions to increase nature that match and underpin its aspirations for economic growth. The principles set out by our organisations show whats needed for the Arc to deliver for nature, for people, and for the economy too.

Jack Taylor, Lead Campaigner at Woodland Trust said:People have been connecting, or re-connecting, with nature so much more as a result of the Covid-19 pandemic.

"Theyve found comfort and strength from daily walks in green spaces, rediscovering the joys of trees, woods and the wildlife within them. Our response to this crisis must take this into account.

The Oxford Cambridge Arc is still in its infancy. Theres a real opportunity here for Government, local authorities and developers to put nature first so it can be delivered without damage.

"This could be a model for development that respects, protects and restores nature, in particular vulnerable natural heritage like ancient woodland.

See the original post:
Oxford to Cambridge Arc: a chance for housebuilding to support a green recovery by protecting and restoring nature - PoliticsHome.com

If tropical weather threatens Pinellas County this year, residents and businesses on the barrier islands and those living in mobile or manufactured homes would be first in any evacuation order.

That was just one of the messages shared during the first-ever Barrier Islands Virtual Preparedness Summit June 4 presented by Emergency management and beach representatives.

The summit focused on extra preparedness needs for the barrier islands, but much of the information was pertinent to all residents. The biggest difference for those on the barrier islands is the threat from storm surge, which is the reason those areas are first to be evacuated.

Joe Borries, Emergency Management operations manager, said when the order is given it is because storm surge is expected to get high enough to enter homes and businesses.

Its not safe to stay, he said.

And the estimated storm surge doesnt account for wave action. Borries said 4 feet of storm surge plus 4 feet of wave action would mean 8 feet of water inside homes and businesses.

Run from water and hide from wind, Borries said, which is a common phrase when talking about tropical weather.

He said all parts of the barrier islands were vulnerable to storm surge. And he cautioned those who live in a condominium that think they can evacuate up instead of out.

Thats not a great idea, he said.

Electrical equipment at ground level is vulnerable to salt water and when it gets wet, power losses follow, disabling elevators and other systems. Although some believe that Duke Energy cuts the power to the barrier islands during evacuations, Borries said thats not true.

He reminded residents that heat rises, so it would be uncomfortable quick with no air conditioning. And winds are stronger up high with no trees to protect structures from straight line winds.

Plus, vehicles would be parked on the ground, so deciding to stay instead of evacuating could cost you your car, Borries said.

Fire departments move their equipment inland as does public works, so the equipment will be safe and ready to respond after a storm has passed.

Mike Burton, chief of Pinellas Suncoast Fire & Rescue District, said his department had a plan to follow if tropical weather occurred, and he asked the community to do the same.

When an evacuation order is given is not the time to think of where you would go, he said.

He said there was a finite window of time to have a chance to leave safely. When sustained winds get to 50 mph, first responders will be grounded, so no one will be coming if you need help, he said. Even before that, bridges will be closed.

Burton said 911 telecommunicators have the toughest job, as they take phone calls from desperate people and have to tell them help is not on the way.

Thats gut wrenching, he said, adding that its a difficult decision thats in conflict with what they to do serve and help.

Depending on the damage, it could be many hours or days before help will come. Before any response can happen, bridges have to be inspected and debris and downed power lines have to be removed to clear the roads. And thats before damage can be accessed on the barrier islands.

Burton said there is just no way to know how long it might be before help will be available on the barrier islands after a hurricane.

Many in Pinellas, including all those living in a mobile or manufactured home, will need to evacuate, depending on where you live and the strength of the storm. You can find out your evacuation zone by visiting http://www.pinellascounty.org/knowyourzone, looking at your county Utilities bill or property appraiser records. Those with a landline can call 727-453-3150.

If your plan calls for evacuating, its not necessary to go hundreds of miles. Its better to go tens of miles and stay with family, friends in host homes or even check into a hotel, Borries said. Public shelters should be used as a last resort only.

Mecca Serfustini, Health and Human Services program lead with Emergency Management, said there were three types of shelters special needs, general and pet-friendly. General and pet-friendly are essentially the same, except one accepts pets, she said. Special needs shelters provide different access and functional needs, she said.

Serfustini said general shelters dont have generators, so evacuees are encouraged to bring battery-operated fans and flashlights. Space is limited and even more so this year, as social distancing is included in plans due to COVID-19. People from the same household can stay together, but apart from others.

She said theres space for a twin-size air mattress, camping cot or pool lounge chair. Its noisy, so ear plugs are recommended, and the lights are on all the time, so people might want to bring a sleep mask.

Speaking of masks, due to the pandemic, cloth face masks are required, so bring your own if possible, as well as hand sanitizer and sanitizing wipes.

Water and food will be available; however, Serfustini said its school food, so if you have special dietary requirements, you should bring you own. And snacks wont be provided, so bring those too.

Bring necessary medications, regardless of which shelter type you choose.

Evacuees going with their cats and/or dogs to a pet-friendly shelter should bring documentation that shows the animal has a county license. Bring them in a crate or carrier. Bring any necessary medications. Pets wont get to sleep with their humans because of potential allergies of others in the shelter. Serfustini said to bring toys, a favorite blanket or a shirt that smells like you to provide comfort to your pets.

She also talked about staffing shortages. She said many of those who traditionally volunteer to help out in shelters are elderly and they dont want to risk exposure to COVID-19. She advised anyone going to a special needs shelter to bring a family member or other caregiver to look after them.

People who have medical conditions, need transportation to get to a shelter or other special needs are urged to sign up now, so they can be included in the countys preparedness plans. Visit http://www.pinellascounty.org/specialneeds or call Emergency Management at 727-464-3800.

Joe Primosch, commander of U.S. Coast Guard Auxiliary, Flotilla 11-3 in Madeira Beach, offered lots of preparedness tips for the thousands of registered boat owners in the county.

Everything starts with the plan, he said, including understanding your insurance policy.

Decide what you will do, which could include pre-arranging boat hauling or going to protected water. If you plan to affix your boat to docks or pilings, make sure to orient into the wind. Use multiple anchors, chafe gear and new, larger lines.

Whatever you do dont stay aboard, Primosch said.

If your boat is on a trailer, check the trailer, tires and axle condition in advance. Find a safe place, then lash the boat and trailer together and block the wheels. Secure it to a fixed object and tie to screw anchors.

If your boat is not on a trailer, put it in dry storage. Primosch said to never leave a boat on davits. If the boat is in wet storage, secure it in the marina berth, moor it in a safe area or haul it out.

For all boats, regardless of anything else, Primosch said remove all you can from it. Tape up the seams, windows and doors and prepare early. The safest place is on shore, tied down with screw in projectiles on all four corners.

If you plan to leave it in the water, use spring lines, 15-20 feet long, doubled up, stretched front to back to allow the boat to move up and down.

Tampa Bay Newspapers interviewed Emergency Management Director Cathie Perkins on the first day of hurricane season, June 1.

She said one of the most important things the public should do this year is to stay informed, as things will likely be changing between now and the end of the season on Nov. 30 due to COVID-19.

Perkins recommends Alert Pinellas as a good place to get emergency notifications by phone, text or email. Sign up at http://www.pinellascounty.org/alertpinellas. She also recommended the Ready Pinellas app, which can be downloaded for free onto a mobile device.

Ready Pinellas allows the public to look up their evacuation zone, create an emergency plan, provides a list of supplies for a hurricane kit, as well as a checklist of what should be done before a storm arrives. Ready Pinellas is available to download from the Apple App Store or Google Play.

In addition, Pinellas County governments Facebook and Twitter accounts are good sources for updated information, and the website http://www.pinellascounty.org/emergency.

A NOAA Weather Alert Radio is another good tool to receive automatic alerts from the National Weather Service. And dont forget to visit the National Hurricane Center at https://www.nhc.noaa.gov/.

Tampa Bay Newspapers and other local media sources also will have information on any hurricanes or tropical storms that threaten the area.

One of the best local sources is the countys All Hazard Guide available online at http://www.pinellascounty.org/emergency/PDF/All_Hazard_Guide.pdf or visit http://www.pinellascounty.org/emergency.

The 2020 Atlantic hurricane season is off to busy start with three named storms already on the books as of June 2.

Tropical Storm Arthur formed May 16 off the east-central coast of Florida. Tropical Storm Bertha followed on May 27 forming near the coast of South Carolina and making landfall the same day.

Tropical Storm Cristobal came next on June 2 and set a record for being the third named storm ever to form before June 5. Pinellas felt its effects with National Weather Service issuing a flood watch, coastal flooding statement, high surf advisory and rip current statement, as well as small craft advisories that lasted through the weekend and into Monday.

NOAAs Climate Prediction Center released its 2020 Atlantic hurricane season outlook May 21. Forecasters say it is most likely that the season will be above average and could possibly be very active.

Odds are 60% that the season will be above normal, 30% it will be near normal and 10% it will be below normal.

Forecasters gave a 70% chance that 13-19 named storms would form with winds of 39 mph or higher, six-10 hurricanes with winds of 74 mph or higher and three-six major hurricanes, which are Category 3 or above with winds of 111 mph or higher.

An average season includes 12 named storms with six strengthening into a hurricane and three becoming a major hurricane.

Hurricane season runs from June 1-Nov. 30.

Suzette Porter is TBNs Pinellas County editor. She can be reached at sporter@tbnweekly.com.

Here is the original post:
Hurricane season is here and it's time to get ready - Tampa Bay Newspapers

By wsmith@mihomepaper.com | on June 11, 2020

Fire was visible from a home on Van Buren Court in Broadview Estate Mobile Home Community as firefighters worked to bring the blaze under control, June 5. Photo provided

RICHFIELD TWP. A manufactured home on Van Buren Court in Broadview Estates, at Richfield Road and M-15, was mostly destroyed and a couple of surrounding mobile homes were damaged during at blaze, June 5.

The Davison-Richfield Area Fire Department responded to the fire at about 7:15 p.m., but theyd already been on that same street earlier in the day when a car fire was reported. Chief Brian Flewelling said the two blazes were unrelated.

The more serious fire took place in the mobile home and Flewelling said no one was injured, but the structure was destroyed, as well as a shed, where the fire is believed to have started. The heat from the fire also damaged to adjacent mobile homes.

It started out in shed and spread to trailer, and did damage to two other homes, said Flewelling. There were no injuriesdespite the heat that day, everyone was just fine.

He said the department spent three hours at the scene fighting the fire. They received assistance from the Forest Township Fire Department, while Atlas Township fire fighters manned Station No. 1 in their absence.

Flewelling said the cause of the fire has not been determined and is still under investigation.

Read this article:
Fire department called to unrelated fires on the same street, hours apart - Browncitybanner

Key points

Sell in May and go away? Well, not quite.

For equity investors, the rally that began 23 March continued through May. Incredibly, despite a one in 100-year pandemic, calendar year-to-date (at 1 June 2020) the Nasdaq is now up +8%, global equities (in AUD) only down -4%, and the S&P500 down -7%. By contrast, US REITs and listed global real estate are both down ~20%.

Source: Bloomberg, Quay Global Investors

Despite the tsunami of dire economic indicators (jobless claims, GDP estimates, industrial production), one can make an argument that the recent bounce in equities is based on the massive fiscal response from most governments. Indeed, last month we made the case using the Kalecki-Levi profit framework.

So why has real estate lagged?

One argument is that real estate is exposed to sectors that may be challenged in a post COVID-19 world. Retail and office (not a small part of the market) are good examples. However, like the broader equity market, the real estate universe includes many sectors that are unlikely to be impacted solely by the virus, such as industrial property, single family homes, apartments, data storage and self-storage, etc.

Of course, if the world is headed for a deep and protracted recession, the performance of the real estate indices is justifiable. But the broader equity market is telling a different story. Either the recovery is extremely quick, or investors are willing to look past the downturn all together.

Either way, there seem to be inconsistencies. In Australia, retailers such as JB Hi-Fi are down just -7% and Premier Investments -14%, while Scentre Group (a senior creditor to both the aforementioned businesses) is down around -40%.

Of course, its early days, and the equity market may well be wrong the world could be headed for a significant and prolonged economic downturn and markets may need to re-adjust. Time will tell.

However, we think a better explanation is a strong recency bias against real estate.

During the GFC, real estate was one of the worst performing asset classes and justifiably so. Part of the reason was that the financial crisis began as a real estate crisis (US housing), before morphing into a credit crisis. Real estate relies on credit, and back in 2008 many real estate companies were significantly levered (50-60% loan-to-value ratios (LVRs) were not uncommon). Further, since it was almost 80 years since the last major financial crisis, little value was placed on access to liquidity. So when the crisis hit and liquidity was needed, the cupboard was bare; and for many, the only alternative was equity at painfully depressed prices.

Big losses were locked in, and many investors today still remember those costs.

Our observation is the current climate is different.

While we cannot speak to the entire REIT universe, balance sheets across Quays coverage list (including investees) are in much better shape than those prior to the GFC. We estimate the average LVR across our portfolio at 26% measured by debt to enterprise value, or 5.4x measured by net debt/EBITDA. Additionally, all of our companies have significant access to liquidity. And even if they were to fall short, central banks have taken the highly unusual step of buying investment (and sub investment) grade credit, providing a credit backstop for all industries including real estate.

By way of example, one of our investees, Camden Property Trust, issued 10-year notes at an all-in rate of 2.9% in the middle of April. There was over $8bn of investor demand for the $750m issue. Credit markets have improved since. In our opinion, access to liquidity and credit is generally not a problem.

Therefore, its more about the economy. Which means it is hard not to conclude that either the equity market is wrong, or there is a significant opportunity in global real estate.

One of the initial concerns stemming from stay-at-home orders was the inability (or unwillingness) of tenants to pay rent. Lack of rent would squeeze the cashflows of real estate owners, which (under a worst-case scenario) would lead to potential breaches of fixed-charge cover ratios within lending agreements.

The swift response of governments around the world with payments supporting wages and small businesses has ensured rents continue to flow. Indeed, outside of retail, most US REITs have reported mid-90% cash rent collection (with May collections generally better than April for apartments, healthcare and malls). Most of the rents not yet paid are on deferral agreements. Only slightly worse cash rent numbers were reported from Europe/UK.

Source: NAREIT

While the current environment is challenging, there are other elements that support REIT pricing in the medium term.

While there seems to be a disconnect between equity market euphoria and real estate depression, within the sector there appear to be anomalies.

Last year, we highlighted sectors within real estate that historically outperformed or underperformed during economic downturns. The chart is re-created below.

Source: Green Street Advisors, Quay Global Investors

However, the performance of these sectors to date have not matched the last downturn. Traditionally defensive sectors not directly affected by COVID-19, such as manufactured homes and apartments, are performing just as poorly or worse (when adjusted for leverage) than the more economically sensitive sectors of office and industrial. Given the high rate of rent collection to date, we see no reason why this should be the case.

Source: Green Street Advisors, Quay Global Investors

Again, similar to the relationship between equities and real estate, it seems even within the real estate sector investors cannot make up their mind whether we are having a recession or a recovery.

The opportunity is to buy the sectors where there is a prolonged recession implied in the market price this offers investors a skewed bet. If the worst-case economic scenario plays out, this should mostly be reflected in the price if not, significant upside is potentially available.

Where to from here for the market is subject to much debate. While there seems to be a degree of enthusiasm reflected in equity market indices, listed real estate has been a significant underperformer. Across most of our investees, we are seeing solid rent collection with robust balance sheets and good access to credit. Despite this, in some instances many years of share price gains have been erased and we believe this represents opportunity.

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Real estate and COVID-19 - the story so far - Livewire Markets