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Inside Real Estate (Nov 11th, 2019)

1. Operation Tiny Home has completed its first residence for a new community that helps female veterans transition back to civilian life. The Home Depot and Wells Fargo hosted a three-day workshop that taught people how to help build homes for the new village, which will eventually also include larger houses. Air Force member Sandy Blair — who founded Operation WEBS (Women Empowered Build Strong), one of the agencies that helped kick off this initiative — knows the experience firsthand and says: “I hate to know that there is a female veteran out there that is on her best friend's couch like I was, or wondering where she is going to take her children.” - KSBY

2. According to a new Coldwell Banker report, there are 618,000 millennials in the U.S. and the majority of them believe real estate is the best route to building wealth, but only the millionaires among them can pursue homebuying aggressively. The wealthy set of millennials typically have a real estate portfolio that includes three homes, which total an average of $1.4 million. Millennial millionaires are typically aged between 34 and 37 and have a net worth of between $1 million and $2.49 million. They're also often married and residing in California more than any other state in the U.S. The average millennial, on the other hand, is generally more cautious about jumping into homeownership. - BUSINESS INSIDER

3. Prominent real estate figure Ben Shaoul just sold his New York condominium for $15.3 million in bitcoin. The Magnum Real Estate Group president’s 11,400-square-foot condo went to “Affluent International LCC,” a Taiwan-based entity. This isn’t the first major real estate purchase made in a cryptocurrency: a 150-year-old English church hit the market at $1.5 million in bitcoin or fiat currency. Another of Shaol's residential developments was also for sale with an option to purchase in bitcoin, but it was eventually closed in cash by investor Martin Shapiro. - COIN TELEGRAPH

4. In honor of Veterans Day, Bisnow interviewed three military veterans — who are also commercial real estate executives — to find out how their military careers prepared them for life in commercial investing. Stream Realty Managing Director Bret Morriss, who served 20 years in the Marine Corps, said his time in the military helped teach him how to lead a team and how to communicate well with others. Cox, Castle & Nicholson partner Rob Begland said this training exposed him to a "wide range of backgrounds" that taught him that in spite of differences, most people want to work as a team to reach a common goal. - BISNOW

5. Bleutech Park representatives planning a $7.5 billion energy-efficient "mini-city" in Las Vegas say they've locked down a 210-acre plot of land south of the Strip, along Las Vegas Boulevard. That's where the development is anticipated to launch a 100-percent "off-the-grid" luxury residential space with retailers, hotel, exotic beach and an "innovative" pool." The park will also design "33 supertrees as vertical gardens ranging in height from 50 to 100 feet." The curious development should accommodate those who seek high-tech, green living.  - KSNV

6. The last Sears store in all of Arkansas is expected to close in February. The retailer has blamed the shift to online shopping as one of the main reasons for its demise. After next spring’s round of closings, there will only be 182 locations of Sears and Kmart stores across the nation. Sears' parent company, Transformco, announced that Sears Hometown Stores will remain in operation. - ARKANSAS ONLINE

7. Market snapshot: The New York Times takes a look at New York City-area homes priced around $1.5 million. Among these is a four-bedroom, 1,956-square-foot Westchester house that's 104 years old and has been sitting on the market for nearly a year. A two-bedroom Manhattan prewar co-op has been sitting on the market for 20 weeks; it's listed at $1.275 million, not including $2,630-per-month maintenance fees. The most house for your dollar can be enjoyed in New Jersey, where a five-bedroom, 4,100-square-foot, Tudor-style house is listed at $1.599 million. - NEW YORK TIMES

8. U.S. buyers are taking advantage of the UK's current housing slump by purchasing properties while the market and the pound are down. American home shoppers bought 6 percent of central London’s high-end properties — almost double all of its 2018 buys. This home buying category is now second only to Chinese buyers. Since capital values in London have dropped by more than 20 percent since 2014, Americans can enjoy discounts of up to 45 percent if they buy now. - MANSION GLOBAL

9. Artist Daniel Arsham's vacation house reflects his return to design with its sleek midcentury stylings. The Snarkitecture co-founder said he “manipulates architectural surfaces" but admits that he calls upon experts in architecture and engineering to help him "work out the language." His 1971 Long Island house comes courtesy of New York Five architect Norman Jaffe, who dreamed up the original structure. The centerpiece of the house might be an extensive remodel that swapped the laundry room, gym and another bedroom into one, sprawling master suite bath. - ARCHITECTURAL DIGEST

10. TV-famous broker Luis D. Ortiz is parting ways with business partner Ronita Kalra. The real estate duo ran a Douglas Elliman team on the Bravo’s “Million Dollar Listing New York,” but now all branding is under Kalra, who confirms that Ortiz is no longer a part of the brokerage team. Ortiz briefly left the field in 2016 only to return to real estate on the current season of the hit show. Now he says he plans to move to Puerto Rico to be with his new baby. - THE REAL DEAL 

Written and curated by Darla Guillen Gilthorpe. Darla writes for the Houston Chronicle, where she was part of its 2018 Pulitzer Prize finalist staff. She was previously an editor at Vox Media site Eater and has had bylines in Elle Decor, SFGate and various other outlets. Follow her on Twitter here.

Editor: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside).

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