Real Estate Market Sees Increase in Sales Volume

NEW YORK, May 3, 2017 /PRNewswire/ --

National Association of Realtors (NAR) in a recent report indicated that existing-home sales took off in March to their highest pace in over 10 years. Severe supply shortages resulted in typical homes coming off the market significantly faster than in February and a year ago. Only the West saw a decline in sales activity in March. As for commercial real estate, NAR's most recent quarterly report indicates that commercial real estate in small cap markets continued on a divergent path with sales volume accelerating during the fourth quarter of 2016. Holiday Island Holdings, Inc. (OTC: HIHI), ACRE Realty Investors Inc. (NYSE: AIII), Walter Investment Management Corp. (NYSE: WAC), Grow Condos Inc. (OTC: GRWC), Hovnanian Enterprises, Inc. (NYSE: HOV).

Lawrence Yun, NAR Chief Economist, says existing sales roared back in March and were led by hefty gains in the Northeast and Midwest. "The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month," he said. "Although finding available properties to buy continues to be a strenuous task for many buyers, there was enough of a monthly increase in listings in March for sales to muster a strong gain. Sales will go up as long as inventory does."

Holiday Island Holdings, Inc. (OTC: HIHI) is a development stage company operating in the land development sector of the market. Yesterday the company said that it is in negotiations with the largest realtor in the Northwest Arkansas Metro (NWA) to identify and negotiate the acquisition of income producing properties in booming NWA.

NWA is the third fastest growing metro in the U.S. fueled by the global corporate giants headquartered there including Walmart, Tyson Foods, J.B. Hunt Transportation, and the cultural presence of the University of Arkansas and Crystal Bridges Art Center.

Gene Thompson, CEO of Holiday Island Holdings says, "We are pleased to make this announcement as the NWA offers sustainable high growth and returns in one of the most affluent metros in the U.S. This development expands our opportunity to add high yield commercial income producing properties to the Company, and develop residential property revenues with the sale of Holiday Island properties as second homes as the NWA Metro is 30 miles from Holiday Island."

The Company's main goals for 2017 are to finalize a multi-million dollar fund raise and become a significant player in local commercial and residential markets at Holiday Island, Arkansas.

ACRE Realty Investors Inc. (NYSE: AIII) is a commercial real estate investment and operating company focused on commercial real estate investments. The company currently owns one remaining legacy property, a tract of land totaling 38 acres, which is held for sale as of December 31, 2016. The sale of the property is expected to close during the second quarter of 2017, subject to an extension option and certain closing conditions.

Walter Investment Management Corp. (NYSE: WAC) is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. On January 4, 2017, the company announced that it has executed a Stock Purchase Agreement ("SPA") pursuant to which Walter has agreed to sell 100% of the stock of its indirect, wholly-owned subsidiary, GTI Holdings Corp. ("GTIH"), which is the holding company of Walter's primary licensed insurance agency, Green Tree Insurance Agency, Inc., to a wholly-owned subsidiary of Assurant, Inc. ("Assurant"), for a purchase price of $125.0 million in cash, subject to adjustment as specified in the SPA. 

Grow Condos Inc. (OTCQB: GRWC) is a real estate purchaser, developer and manager of specific use industrial properties providing 'condo' style turn-key grow facilities to support the cannabis industry. The company owns, leases, sells and manages multi-tenant properties. Recently, the company provided update to investors on the recent acquisition closing of Lake Selmac Resort & RV Park, and the development of its evolving strategy in Lake Selma, Oregon. After completing the acquisition, the company believes that the Smoke on the Water business presents a unique separate business model and being entirely ripe for a 'roll-up' acquisition play within the RV and Campground industry.

Hovnanian Enterprises, Inc. (NYSE: HOV) is one of the nation's largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The company is one of the nation's largest builders of active lifestyle communities. On March 8th the leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2017. "Given the liquidity constraints we faced last year, we are pleased with our results for the first quarter of fiscal 2017. From October 15, 2015 through May 15, 2016, we paid off $320 million of maturing debt, which limited our ability to invest in land during fiscal 2016. As we began fiscal 2017, we were in a much improved liquidity position with a beginning cash balance of $340 million. We used $31 million to retire $39 million face value of debt maturing in 2017 and 2019. Furthermore, we spent $190 million on land and land development in the first quarter of fiscal 2017, which was more than we had spent in any quarter last year. As a result, after reporting decreases in owned lots last year, during the first quarter the number of owned lots increased sequentially," stated Ara K. Hovnanian, Chairman of the Board, President and Chief Executive Officer.

Please Sign Up now at http://www.FinancialBuzz.com to receive alerts on trending Financial News from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated three thousand dollars for financial news dissemination and pr services by a third party non affiliate for holiday island holdings, inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com

For further information:
Media Contact:
info@financialbuzz.com
+1-877-601-1879

URL: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com