在众多年轻人的认知里，那些没有电梯的"步梯房"不仅内部设施陈旧，日常上下楼也极为不便。因此，多数经济条件允许的购房者，通常会毫不犹豫地选择 电梯房，而非步梯房。毕竟，电梯房不仅出行便捷，高层住宅还拥有开阔的视野，采光和通风条件也更为优越。更重要的是，在亲朋好友来访时，拥有一套 电梯房往往能让主人倍感体面。 然而，令人意想不到的是，我最近与一位资深房产中介朋友小周闲聊时，他却透露了一个颠覆我传统观念的现象：如今，在一些大都市的核心区域，老旧的 步梯房正逐渐成为高净值人群争相追逐的"香饽饽"。这番话着实让我大惑不解：这些曾经被视为"劣势"的步梯房，为何摇身一变成了有钱人心中的"理想之 选"？面对我的疑问，小周详细阐述了步梯房的独特优势，以及富裕阶层青睐这类房产的深层原因。实际上，步梯房本身就具备以下几个显著的优点： 在听完房产中介小周对步梯房各项优势的深入剖析后，我随即追问：既然如此，为何富裕阶层如今也开始悄然购入步梯房呢？小周的回答让我茅塞顿开，其 主要原因有以下三点： 追溯历史，许多步梯房的兴建时期集中在上世纪八九十年代，它们大多坐落于城市的黄金地段。周边生活配套设施一应俱全，无论是地铁站点、综合医院， 还是 ...

INVESTOR PRESENTATION Q3 2025 UPDATE 1 Disclaimer Forward-Looking Statements Certain statements in this presentation may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Offerpad's future financial or operating performance. For example, statements regarding Offerpad's financial outlook, including homes sold, revenue and Adjusted EBITDA, for the fourth quarter of 2025, and expec ...

Core Insights - Centerspace reported a net income of $3.19 per diluted share for Q3 2025, a significant increase from a net loss of $0.40 per diluted share in Q3 2024 [2][8] - Funds from Operations (FFO) per diluted share was $1.19, up from $1.01 year-over-year, while Core FFO per diluted share increased slightly to $1.19 from $1.18 [2][8] - The company experienced a 9.8% increase in revenue, totaling $71.4 million compared to $65.0 million in the same period last year [8] Financial Performance - Same-store revenues increased by 2.4% year-over-year, contributing to a 4.5% rise in same-store Net Operating Income (NOI) [2][8] - Total liquidity at the end of Q3 2025 was $200.4 million, comprising $187.5 million available under lines of credit and $12.9 million in cash [4] - The updated financial outlook for 2025 includes a projected net income per share of $2.76 to $2.19, with FFO per share expected to be between $4.73 and $4.82 [6] Operational Metrics - The weighted average occupancy rate for the same-store properties was 95.8% for Q3 2025, compared to 95.6% in Q3 2024 [2][8] - New lease rate growth was reported at -1.7%, while renewal lease rate growth was 2.9% [2][8] - The retention rate for residents was 59.9%, down from 61.3% in the previous year [2][8] Strategic Activities - Centerspace acquired Railway Flats in Loveland, Colorado, for $132.2 million, which included the assumption of $76.5 million in mortgage debt [8] - The company sold five apartment communities in St. Cloud, Minnesota, for a total of $124.0 million [8] - Centerspace repurchased 62,973 common shares for a total of $3.5 million at an average price of $54.86 per share [8]

Opendoor Technologies Inc. (NASDAQ:OPEN) is one of the 12 Best Performing Stocks in the Last 3 Months. On October 20, Morgan Stanley reiterated a Hold rating on Opendoor Technologies Inc. (NASDAQ:OPEN) and raised the price target to $6 from $2. This decision comes ahead of the company’s third quarter 2025 financial results, which are scheduled for release on November 6. Morgan Stanley Raises Opendoor (OPEN) Price Target, Keeps Hold Rating On October 30, Opendoor Technologies Inc. (NASDAQ:OPEN) shared th ...

Accessibility StatementSkip Navigation Industry leader in online homebuying offering homes from the upper $200s at Kings Landing JACKSONVILLE, Fla., Nov. 3, 2025 /PRNewswire/ --Â Century Communities, Inc. (NYSE: CCS)—a top national homebuilder, industry leader in online home sales, and featured on America's Most Trustworthy Companies and World's Most Trustworthy Companies by Newsweek—announced that the Company's Century Complete brand is now selling at Kings Landing in Jacksonville's growing Westside, with ...

Core Insights - The article discusses the considerations for choosing residential floors in China, emphasizing that traditional superstitions about certain floor numbers may not be as relevant as practical factors affecting living conditions [1][12]. Group 1: Floor Selection Considerations - Objective factors to consider when selecting a floor include structural safety, comfort, and convenience, rather than traditional taboos [3][11]. - The "conversion layer" in buildings, typically found on the 4th to 6th or 11th to 13th floors, is crucial as it bears significant structural loads, with 38.7% of structural issues reported near these layers [3][11]. - Ground floors often face humidity issues, with 32.5% of residents in northern regions reporting dampness, while top floors may experience temperature extremes and potential leaks [4][5]. Group 2: Specific Floor Issues - Ground floors are prone to humidity, noise, and privacy concerns, but offer ease of access, especially for elderly residents [4][5]. - Top floors can be hotter in summer (2-4°C higher) and colder in winter (1-3°C lower), although advancements in insulation are reducing these temperature differences [5][11]. - Elevator equipment layers and mid-level mechanical rooms can lead to noise complaints, with a 27% higher complaint rate from residents in these areas [7][11]. Group 3: Market Trends and Buyer Behavior - Traditional "unlucky" floors like the 4th and 14th often sell for 5-10% less than other floors, presenting a potential opportunity for budget-conscious buyers [12][13]. - The stigma associated with these floors is decreasing, with only 23% of younger buyers rejecting floors with the number "4," compared to higher percentages in older generations [13][12]. - The overall market is becoming more rational, with the price gap for these floors narrowing from 7.5% in 2020 to 4.3% in 2025 [13].

Core Points - Lennar Corporation is extending the expiration date for its Exchange Offer for Millrose Properties shares due to the ongoing U.S. federal government shutdown [1][2] - The new expiration date for the Exchange Offer is now set for November 14, 2025, instead of the previously scheduled November 7, 2025 [1][2] - The Exchange Offer cannot be completed until the SEC declares the Registration Statement effective, which is currently delayed due to the government shutdown [2][3] Company Information - Lennar Corporation, founded in 1954, is a leading builder of quality homes across various segments, including affordable and active adult homes [5] - The company also provides mortgage financing and title services through its Financial Services segment and develops multifamily rental properties [5] Exchange Offer Details - If the SEC does not declare the Registration Statement effective by the new expiration date, Lennar may further extend the Exchange Offer or terminate it without accepting any shares [3][4] - All other terms and conditions of the Exchange Offer will remain unchanged, and Lennar reserves the right to amend or withdraw the offer at any time [4]

Core Insights - Zillow Group reported mixed Q3 2025 results, with net income missing estimates but revenues exceeding expectations, driven by strong customer engagement and brand positioning in the residential real estate sector [1][8] Financial Performance - Net income for the quarter was $10 million (4 cents per share), a significant improvement from a net loss of $20 million (8 cents per share) in the same quarter last year, primarily due to solid revenue growth [2] - Quarterly revenues increased to $676 million from $581 million year-over-year, surpassing the Zacks Consensus Estimate of $669 million, with residential revenues rising 7% to $435 million [3][8] - The Mortgages segment generated $53 million in revenues, up from $39 million a year ago, driven by a 57% increase in purchase loan origination [4] - Rental revenues surged 41% to $174 million, largely due to a 62% year-over-year growth in multifamily revenues [4] Profitability Metrics - Gross profit for the quarter was $491 million, compared to $441 million in the prior-year quarter, reflecting healthy revenue growth across all segments [5] - Adjusted EBITDA rose to $165 million from $127 million a year ago, supported by higher revenues and cost discipline [5] Cash Flow & Liquidity - In the first nine months of 2025, Zillow generated $296 million in cash from operating activities, slightly down from $306 million in the prior-year period [6] - As of September 30, 2025, the company had $874 million in cash and cash equivalents, with $40 million in other long-term liabilities [6] Future Outlook - For Q3 2025, Zillow expects total revenues between $645 million and $655 million, with adjusted EBITDA projected between $145 million and $155 million [9] - The company anticipates approximately 20% year-over-year growth in Mortgages revenues, high-single-digit growth in residential revenues, and over 45% growth in rental revenues [9] - Zillow forecasts low to mid-teens revenue growth for 2025, with continued expansion in adjusted EBITDA margins and positive GAAP net income [10]

Financial Data and Key Metrics Changes - The company reported a solid quarter with core FFO per share exceeding the midpoint of guidance by $0.03, leading to an increase in the full-year guidance midpoint for core FFO per share to $15.94 [9] - Year-to-date blended lease rate growth was 3% across all leases and 2.7% on like-term leases, demonstrating the competitive advantage in low-supply markets [3][4] Business Line Data and Key Metrics Changes - Southern California's blended lease rate growth was around 1.2%, while Northern California achieved close to 4%, and Seattle was at about 2% [14] - The structured finance portfolio saw $118 million in redemptions year-to-date, with an expectation of $200 million in total proceeds for the full year [9] Market Data and Key Metrics Changes - Northern California remains the best-performing region, with significant rent growth driven by AI-related startups and favorable rent-to-income ratios [4] - Seattle's market is stable but trending at the low end of expectations due to soft demand and supply constraints [4][36] Company Strategy and Development Direction - The company is optimistic about the market outlook for 2026, anticipating a decline in total housing supply deliveries by almost 40% [6] - The focus remains on acquiring assets in high-growth submarkets, with nearly $1 billion invested in Northern California since 2024 [6][30] Management's Comments on Operating Environment and Future Outlook - Management noted that hiring and investment decisions have been delayed due to a soft economic environment and policy uncertainty, but the West Coast is expected to outperform the U.S. average [5] - The company anticipates stable growth in 2026, with earnings projected to be between 80 to 100 basis points [6][19] Other Important Information - The transaction market on the West Coast is slightly above 2024 levels but remains below historical averages, with cap rates generally in the mid-4% range [7] - The company has executed several financings throughout 2025 to strengthen its balance sheet and increase liquidity [11] Q&A Session Summary Question: Can you break out the blended rate growth for the third quarter? - Management confirmed that Los Angeles was a drag on performance, with Southern California at 1.2%, Northern California close to 4%, and Seattle at about 2% [14] Question: Is there a pickup in demand in Northern California? - Management noted steady strength in Northern California, with a slight uptick in tech job postings benefiting the region [16] Question: Can you break down the 2026 earnings estimate? - Management indicated that Northern California is expected to lead, with Southern California ranking third and Seattle in the middle [19] Question: How do you view the impact of AI on job growth? - Management believes AI will be net additive to the economy, with Seattle's job market remaining stable due to strong anchor industries [65] Question: What is the outlook for concessions across the portfolio? - Concessions are comparable to the same period last year, with negligible impact on renewals and primarily affecting new leases [59] Question: What is the strategy regarding the preferred equity book? - Management stated they are not exiting the business but are being more selective due to heavy redemptions and compressed yields [49] Question: How does the company view the impact of potential changes in Seattle's local government? - Management does not foresee significant changes affecting apartment communities, as recent legislation has balanced tenant protection with housing production needs [51]

Core Insights - The article emphasizes the importance of selecting the right floor and building when purchasing a home, highlighting various factors that influence this decision [1] Group 1: Floor Selection Considerations - Buyers generally avoid top and low floors due to concerns about heat insulation, water leakage, and poor lighting [1] - Low floors may lack sufficient sunlight and ventilation, leading to issues like humidity and pest infestations [1] - Equipment floors, often located on the top or between the 10th to 20th floors, can introduce noise and radiation pollution, making them undesirable [3] Group 2: Cultural Beliefs and Practical Factors - There is a cultural belief among some buyers to prefer odd-numbered floors (1st, 3rd, 5th) over even-numbered ones (2nd, 4th, 6th) based on traditional feng shui principles [3] - The article notes that while these beliefs may influence some buyers, practical factors such as sunlight exposure should take precedence [3][4] Group 3: Sunlight and Health - Adequate sunlight is crucial for physical and mental health, and buyers are advised to assess sunlight exposure during the day [4] - Key recommendations for evaluating sunlight include checking conditions in winter, observing afternoon light, and ensuring the unit is in its raw state to assess natural light [4][5][6] - A reasonable distance between buildings is also essential, with a recommended distance greater than 1.2 times the height of the building to ensure proper lighting [7] Group 4: Ideal Floor Recommendations - For optimal sunlight exposure, it is suggested that tower buildings should ideally be above the 6th floor, while slab buildings should be above the 3rd floor [9] - Overall, the article concludes that selecting a floor with ample sunlight is vital for a healthy and comfortable living experience [10]