The recent shift in the epicenter of the growing real estate market crisis in the US is threatening the rebound of the housing market in New Jersey, one of the country’s densely populated areas. Zillow, a real estate tracking giant, cited that New Jersey is ahead of many other states when it comes to having the highest rates and shares of residential mortgages that are extremely delinquent and in foreclosure. As a result, most of NJ’s real estate markets are largely trailing the nation.
The decline in the rates of foreclosures and delinquency shows considerable impacts of the strict post-crisis events as well as the improved fundamentals like higher rates of employment, the formation of households and increased home prices. Lawrence Yun, the realtor chief economist at the National Association of Realtors, cited that the housing shortage was likely to grow and develop into a housing emergency, especially in the case of a widening gap between housing demands and housing supplies. Check out Central Jersey Working Moms for more info.
Economists have remained pessimistic on the possibility of the drop increasing in the upcoming months due to the decline in building permits in May. However, contrary reports state that New Jersey is on the verge of a rebirth in its real estate market. According to Zillow, the reason for this could be partly because of the expected increase in home prices whereas households may look forward to improved selling conditions in the future. The information was published through Philly Purge.
About Boraie Development
Boraie Development is a leading real estate development company in New Jersey. The company’s services are focused on all aspects of urban real estate market including property management, real estate development and sales & marketing. As such, Sam Boraie has undoubtedly become one of the most sought after development companies in all of New Jersey. This reputation is owed to its three-decade track record, which involves committing its capital, vision and reliability to each project. In addition, property management has proven to be a vital component of the company’s overall strategy.
Boraie leverages the experience and skills of its team of dedicated professionals to develop remarkable properties coupled with unmatched services to its clientele. The company’s strong point has proven to be its collaboration with architects with vision, contractors that understand deadlines and the strongest financial institutions. As such, Boraie Development ensures both success and timely completion of all its projects. Additionally, the company prides itself for having sold more than $150 million in both residential and commercial real estate deals. Visit boraie.com to learn more.
See more: https://www.bloomberg.com/profiles/companies/0601263D:US-boraie-development-llc
Nationwide Title Clearing, Inc. is a national wholesale document provider that is a leading force in the industry. They were established in 1991 as a small local title company and are today one of the largest in the industry. The are located in Palm Harbor, Florida and employ over 600 employees in three states.
Eight out of the of the top retail mortgage and title companies who are involved with property closings rely solely on Nationwide for their documentation needs, and rightly so. The mortgage industry is highly competitive, and the two most important factors are the speed of the delivery of the documents, such as lien releases and title verification are important. Also, the accuracy of these documents is extremely vital because the wrong documents can shut down a closing session on a piece of property.
Nationwide has a .78% rejection rate and a 99.89% rate of compliance. This means that the accuracy and the speed of delivery are nearly 100% on both counts, which leads the industry.
Much of the credit goes to the employees and the training that they receive. New employees have an intensive three-week training period where they cover every detail of what they will be doing when they are on the job. Then when they are in their first few months of working, they are monitored very closely until they master the tasks at hand.
Employees also have over 150 training and educational modules that are available to them. Employees can take advantage of these extra learning courses to advance withing the company. Time is set aside for anyone who wishes to participate. At any given time approximately 50% to 70% of the workforce is found to be involved in these extra pursuits.
Nationwide enjoys and enthusiastic workforce, and it is a company that people enjoy working for. This is brought out in the Top 100 workplace to work recognition, which Nationwide has been a part of for the past five out of six years, as noted by the Tampa Bay Times.
As John Hillman, the company CEO puts it, compliance is something that companies in our industry talk about a lot, but some don’t live it. To have high marks in the compliance area, you have to train for it and then publically monitor it so that it becomes a part of the corporate culture. Then and only then, will it finally become a fact of life.
New Brunswick, New Jersey was the location of the first intercollegiate football game in the United States. Rutgers University played Princeton in 1869. New Brunswick fascinating history is filled with stories of ancient Indian settlements, and social functions that date back before the Revolutionary War. The historic downtown area was a masterpiece during the 18th and 19th centuries. But like all American cities, there was a mass exodus to the suburbs in the 1960s. Downtown New Brunswick started to deteriorate. Retail businesses closed, and gang activity became the only activity in the city.
Omar Boraie, the Egyptian chemist, and real estate developer decided to do something about downtown New Brunswick in the 1970s. He bought 21 properties in New Brunswick’s inner city, and he began a redevelopment project that was sanctioned by city officials. The first Boraie project was Albany Street Plaza One. The Plaza One building was the first modern high-rise on Albany Street in the 1980s. Sam Boraie, Omar’s second son, came on board more than 20 years ago, and he is following in his father’s footsteps. Albany Street Plaza Three is the next mixed-use Boraie project.
Sam Boraie has built a solid reputation in the real estate business. But Sam is also known for his philanthropic endeavors. Sam is one of the people that is responsible for the redevelopment of the New Brunswick State Theater. The 1921 theater has attracted entertainment personalities since the first day it opened. The list of entertainment legends that have performed at the theater is impressive. When the theater needed a facelift, Sam and other board members developed a plan to bring the theater back to its original glory. The successful project brought new life to the theater. The State theater is educating and entertaining New Jersey’s younger generation again.
But Boraie is not the kind of guy to sit around and wait to help his neighbors. Sam is also very active in the nonprofit, Elijah’s Promise, reveals Rutgers Magazine. Elijah’s Promise feeds the hungry in New Jersey. With a soup kitchen, a pay-as-you-can café, and a culinary school, Elijah’s Promise is making a difference in New Jersey. According to statetheatrenj.org, Sam is a board member and a major donor to that organization.
There are other New Jersey cities that need help, and Sam Boraie and his family are helping them. The One Riverview apartment building in Newark is a Boraie project. And so is the Beach at South Inlet apartment complex in Atlantic City. The 250-unit apartment complex is under construction, and it is attracting more young people to Atlantic City to live and play. http://www.prnewswire.com/news-releases/boraie-development-llc-opens-leasing-center-in-new-brunswick-new-jersey-300176946.html
The legacy of Sam Boraie is still being written, but one thing that is already written is his dedicated service to New Brunswick and his quest to modernize New Jersey’s cities. For more info, visit his crunchbase.com page.