Category Archives: Business

Press Releases from the Business World. Announcements, Product releases, Appointments.

Kabbage Launches Kabbage Payments™ to Help Small Businesses Get Paid Faster


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Kabbage Payments not only expands our suite of products, but the very definition of our company. We deeply believe in the mission of small businesses and understand what they need to succeed—namely, more time building their businesses and less time worrying about cash flow.

Kabbage, Inc., a data and technology company providing small businesses cash flow solutions, announced the general availability of Kabbage Payments to its customers, a new payment-processing solution for small businesses that makes getting paid faster as simple as sending a text message. After a successful beta program, this release marks the first of several new products that Kabbage will launch in the upcoming months to enable small businesses to more efficiently and intelligently manage their cash flow.

Two-thirds of Kabbage’s more than 200,000 customers rely on invoicing to receive payments today and wait as long as 90 days to be paid. Leveraging technology that powers Kabbage’s fully automated working capital solution, Kabbage Payments drastically reduces the time required to receive payments in typical net-term invoicing. With Kabbage Payments, users are settling invoices as quickly as 24 hours.

Among the many features of Kabbage Payments, the new custom pay link solves a fundamental challenge for business owners relying on invoice payments. Kabbage Payments customers can create a unique URL for their business and send payment requests through texts, emails or the web to collect card payments securely and quickly. With more flexibility, the custom pay link eliminates the need to manually create new accounts, open new payment orders, and duplicate work for recurring invoices.

“My clients receive dozens—if not hundreds—of invoices a month, so it’s easy for them to pile up and be paid out all at once,” said Lee Brewer, owner of Lee Brewer Enterprise LLC, an advertising firm in New York. “For years, I’ve waited anywhere from 15 to 30 days to get paid for my work. Now, I send clients my Kabbage custom pay link through email or WhatsApp and get paid the next day. This has helped me collect so quickly my cash flow concerns were eliminated seemingly overnight.”

Kabbage Payments also includes:

  • Online invoicing: Quickly and easily create, send and manage invoices.
  • Convenient dashboard: See all payments activity in a single view.
  • Next-day deposits: Access the money you earn in 24 hours or less.*
  • No-fee invoicing: Send unlimited invoices and estimates for free with no monthly fees.
  • Only pay for card payments: Save with low costs at 2.9% + $.25 per credit card payment. Cash and check payments are always free.
  • Free customer support: Speak to a real person on Kabbage’s trusted customer support team.

“Mercator’s latest research shows 65% of small businesses prioritize ease of use when selecting a payments solution. The ability to receive funds through a simple URL matches the digital-first way most business owners operate today,” said Robert Misasi, CEO of Mercator Advisory Group. “Small businesses have a wide set of payment options today and Kabbage’s data connections and leadership in automating funding create a strong pairing to provide small businesses a unique cash flow management solution.”

“Since 2011, we’ve helped hundreds of thousands of small businesses access over $8 billion in funding. We know first-hand a primary need is to cover cash-flow gaps while waiting to be paid,” said Kabbage CEO Rob Frohwein. “Kabbage Payments not only expands our suite of products, but the very definition of our company. We deeply believe in the mission of small businesses and understand what they need to succeed—namely, more time building their businesses and less time worrying about cash flow.”

Kabbage Payments is now available to existing Kabbage customers with public availability coming soon. Any business owner may request early access at http://www.kabbage.com/payments/early-access.

About Kabbage

Kabbage, Inc., headquartered in Atlanta, has innovated a data and technology platform to provide small businesses automated cash flow solutions, including its online lending platform which allows small businesses to quickly access ongoing lines of credit up to $250,000. With more than 2 million live data connections to customers, its technology analyzes small businesses’ real-time data such as online sales, banking information, shipping activity and dozens of other sources to understand performance, to provide a fully automated funding decision in minutes. To date, Kabbage has provided more than 200,000 small businesses access to over $8 billion of working capital. Kabbage is funded and backed by leading investors, including the SoftBank Vision Fund, BlueRun Ventures, Mohr Davidow Ventures and others. All Kabbage U.S.-based loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Kabbage Payments, LLC, a subsidiary of Kabbage, Inc., is a registered Payment Service Provider/Payment Facilitator sponsored by Fifth Third Bank, N.A., Cincinnati, OH. For more information, please visit http://www.kabbage.com.

*Transactions that are processed by 5 p.m. ET will be deposited in your bank account the following banking day. Any transactions that are processed after 5 p.m. ET will be deposited in your bank account within 2 banking days. Settlement to your bank account may be delayed if transactions are flagged for review.

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Allegis Global Solutions Named a Leader in Everest Group’s 2019 North America MSP PEAK Matrix™ Assessment


AGS named a leader on Everest Group's North America MSP and Global Procurement Assessments

Given Everest Group’s reputation as the definitive MSP market analyst, we are proud once again to be named a Leader for both our market impact and vision & capability.

Among 22 North American managed services providers (MSPs) evaluated, Allegis Global Solutions (AGS) secured a Leader position in Everest Group’s 2019 North America MSP PEAK Matrix™ Assessment.

Everest Group’s North America MSP report is the region’s most trusted source for comparative MSP assessments, enabling North American leaders to make informed decisions about providers and service offerings. In its analysis, Everest Group noted AGS’ ability to serve the scope of the North American market by offering small-, mid-, and large-market deals.

“Given Everest Group’s reputation as the definitive MSP market analyst, we are proud once again to be named a Leader for both our market impact and vision & capability. We look forward to continuing to serve North American customers of all sizes with new technologies such as our total talent management system, QuantumWork, and updates to our proprietary analytics tool, ACUMEN.”

— Steve Schumacher, Senior Vice President and Global Product Leader, Allegis Global Solutions

Everest Group PEAK Matrix™ North American MSP Leaders are those that performed highest based on year-round tracking of metrics related to revenue, clientele, and partnership and investment development. This is the first year that AGS was put in the Leader group among North American MSPs. In July 2019, AGS also secured the top positioning of Leader on Everest Group’s 2019 Global MSP PEAK Matrix™ Assessment.

“Allegis Global Solutions is a Leader in a very competitive North America MSP market because of its spot-on, carefully crafted strategy in catering to emerging contingent talent categories, such as SOWs and ICs, as well as its dedicated investments in leveraging next-gen technologies in its digital infrastructure that support clients in achieving enhanced business outcomes from their MSP programs.”

— Arkadev Basak, Vice President, MSP Research at Everest Group

About Allegis Global Solutions:

Allegis Global Solutions is a leader in global talent solutions. To date, we support clients in more than 60 countries through regional hubs, matching our great people with businesses seeking to optimize their permanent and contingent workforce. We deliver scalable, flexible, and customized solutions, shaped around your unique business requirements and culture. We draw upon decades of industry expertise and market insight to design strategies that work. We develop innovative tools, products, and processes that deliver the results you seek. And we do all this better than anyone else. Our passion for talent is the driving force behind everything we do. We live to match exceptional organizations with outstanding people. By creating a culture devoted to great talent, we can deliver client-focused solutions that make a difference for your business.

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Allegis Global Solutions Named a Leader in Everest Group’s 2019 Services Procurement PEAK Matrix™ Assessment


AGS named a leader on Everest Group's North America MSP and Global Procurement Assessments.

“This recognition from a world-class research group validates the effort we have put in to differentiating our Procurement Solutions product within the market.”

Among 15 services procurement and statement of work (SOW) services providers evaluated, Allegis Global Solutions (AGS) secured the top positioning of Leader on Everest Group’s 2019 Services Procurement PEAK Matrix™ Assessment.

Everest Group’s services procurement report is the definitive source for comparative provider assessments worldwide. Leaders are the providers that performed highest based on year-round tracking of revenue, clientele, partnership and investment development, vision and strategy, as well as other metrics.

“We are thrilled to be named a Leader in Everest Group’s 2019 Services Procurement PEAK Matrix™ for the second consecutive year. This recognition from a world-class research group validates the effort we have put in to differentiating our Procurement Solutions product within the market. It also serves as a testament to the customers who trust AGS with this important component of their spend portfolio and to our internal teams who are delivering this capability today while supporting our vision for the future.”

— Jon Kesman, Global Executive Director and Head of Procurement Solutions, Allegis Global Solutions

In the report, Everest Group noted AGS’ cross-regional success as the provider with the largest SOW spend under management globally. The report also named AGS as one of the few providers with strong SOW capabilities in strategic areas such as category management, supplier sourcing, and contract negotiation.

“Allegis Global Solutions’ targeted SOW offering, as well as its full-stack technology solution for SOW that leverages several next-gen technologies, has helped it significantly bolster its transactional and strategic SOW capabilities and establish it as one of the largest SOW bases across geographies, thus positioning itself as a clear Leader on the services procurement PEAK Matrix™ 2019.”

— Arkadev Basak, Vice President, MSP Research at Everest Group

About Allegis Global Solutions:

Allegis Global Solutions is a leader in global talent solutions. To date, we support clients in more than 60 countries through regional hubs, matching our great people with businesses seeking to optimize their permanent and contingent workforce. We deliver scalable, flexible, and customized solutions, shaped around your unique business requirements and culture. We draw upon decades of industry expertise and market insight to design strategies that work. We develop innovative tools, products, and processes that deliver the results you seek. And we do all this better than anyone else. Our passion for talent is the driving force behind everything we do. We live to match exceptional organizations with outstanding people. By creating a culture devoted to great talent, we can deliver client-focused solutions that make a difference for your business.

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Melissa Van Dyke Named to BizBash 2019 Top People in Events List


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This list represents those bringing the best in creativity, strategy and forward thinking to the event industry.

Creative Group, Inc., a full-service meeting, incentive and recognition company, announced that Melissa Van Dyke, Vice President, Design and Insights, has been honored as an event industry innovator, being named to the BizBash Top 1,000 People in Events List. This list includes industry leaders from all backgrounds who are redefining live experiences, including incentive professionals like Melissa Van Dyke, as well as festival organizers, technical experts and event producers.

“We’re thrilled to see Melissa being recognized as an industry innovator,” said Janet Traphagen, President, Creative Group. “This list represents those bringing the best in creativity, strategy and forward thinking to the event industry.”

“I’m honored to be recognized by BizBash for my work in the incentive field. The importance of strategic experience creation, and its ability to help companies achieve their goals, can’t be overestimated,” says Van Dyke.

About Creative Group

Creative Group is a full-service meeting, incentive and recognition company that delivers business results by inspiring people to thrive. An industry leader, Creative Group has been honored with Society for Incentive Travel Excellence (SITE) awards and the CMI 25 Award, which recognizes the top 25 most influential meeting and incentive management companies in the U.S.

Creative Group was founded in 1970, and has served clients in financial services, life sciences, insurance, manufacturing, retail, technology, automotive and hospitality. Employing over 260 people, the company is headquartered in Schaumburg, Illinois, and maintains offices in Detroit, Denver, San Francisco, Appleton, Wisconsin and Toronto, Canada. Creative Group was acquired by Direct Travel in 2015. For more information about Creative Group, please visit http://www.creativegroupinc.com

About BizBash

BizBash empowers event professionals with ideas, intelligence and resources to create smarter events. Each month, the most elite names in events across North America look to BizBash for venue discovery, event style, technology and tools for their next event.

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SEOblog.com Announces Best SEO Companies in Florida in 2019


SEOblog.com, a website dedicated to providing the latest SEO news, tips and best practices and helping business owners connect with SEO experts, has released its exclusive 2019 ratings naming the best SEO companies in Florida.

SEOblog.com ranked SEO service providers in four Florida cities: Jacksonville, Miami, Orlando and Tampa. SEOblog analysts determined the 10 best SEO companies in those four Florida cities based on dozens of key quantitative and qualitative factors. SEOblog industry experts examined each digital marketing agency’s website, industry experience, market presence, client list, portfolio, expert certifications and authorship among other factors in its ranking system.

SEOblog has provided a broad view of companies in a particular city or focus area on various directory pages to help business owners find the expert help they need to grow. This was a new, free offering added by SEOblog earlier this year.

Florida has many of the nation’s top SEO service providers that provide a very competitive digital marketing landscape.

“We have seen many SEO companies come and go in the Orlando market since we started in 2011,” said Jennifer Wheeler, the marketing and sales director for Get The Clicks. “Agencies have migrated away from offering this service while we’ve rolled with the punches Google has thrown over time. Our competition is now larger agencies, not local to Orlando, and single operators working out of their homes. These trends have allowed us to thrive by offering a personalized, local experience for both business owners who want to grow and marketing agencies looking for white-label SEO services.”

SEOblog.com rankings are updated regularly as the market shifts and new players emerge. SEOblog.com has published more than 1,500 agency listings with more added every day. There is no fee to participate, and the website welcomes all qualified agencies to apply.

SEOblog leaders’ lists below recognize the best SEO companies in Florida:

SEOblog.com’s 10 Best SEO Companies in Jacksonville in 2019:

Yashaa Global, 5ivecanons, 904 SEO, BCP Design, Boost Rank SEO, C7 Creative, DAGMAR Marketing, Elyk Innovation, Hart SEO and Jax Media Team.

Link: https://www.seoblog.com/best-seo-companies/jacksonville/

SEOblog.com’s 10 Best SEO Companies in Miami in 2019:

OptFirst Internet Marketing, TECKpert, Actimedia Digital, Alphametic, Digital Resource, ilocal SEO, Link2CITY, Lucid Site Designs, M8 and Miami SEO Experts.

Link: https://www.seoblog.com/best-seo-companies/miami/

SEOblog.com’s 10 Best SEO Companies in Orlando in 2019:

Appleton Creative, Chatter Buzz, Get The Clicks, Laughing Samurai, X3 Digital, Mailtropolis, Orange Rock Media, South Street Marketing, InBusiness Inc. and Marketing24x7.

Link: https://www.seoblog.com/best-seo-companies/orlando/

SEOblog.com’s 10 Best SEO Companies in Tampa in 2019:

Socius Marketing, Absolute Mobile Solutions, Sparxoo, Overdrive Strategies, DeTorres Group, EV2 Agency, Rank Mountain, ROI Amplified, EyeQuest Digital and Local SEO Tampa Company.

Link: https://www.seoblog.com/best-seo-companies/tampa/

About SEOblog.com

SEOblog.com is a leading thought leadership site with a rich history of publishing educational and informative articles about SEO and digital marketing topics. In early 2019, SEOblog.com answered the call from buyers of digital marketing services that lacked unbiased, informative online resources and launched a comprehensive directory to highlight the best SEO agencies in the United States. SEOblog’s mission is to connect businesses with qualified digital marketing agencies while also offering further SEO education, best practices and industry trends.

SEOblog.com is a one-stop shop for educational SEO and digital marketing content, research, ratings and reviews for the best agencies in each local market across the United States. The website will be increasing its coverage of agencies in North America and accepting more guest posts in the coming months. Contact SEOblog if interested in getting involved.

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EduLab Capital Partners Expands Investment and Operations Team to Support Global Portfolio


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Given EduLab’s deep domain expertise and commitment to building companies, both of their roles will be impactful and accretive to our efforts.

EduLab Capital Partners, a global seed stage venture capital fund, today announced two investment professional hires. Edwin Derecho joined as Chief Financial Officer and Dahler Battle joined as Senior Associate. Both will be based out of EduLab Capital Partners’ offices in Boston, Mass.

Derecho brings nearly three decades of investment and operational experience to EduLab Capital Partners. Previously, he served in senior financial positions for multinational corporations and entrepreneurial firms, including Manager of International Treasury for RCA, VP in Mergers & Acquisitions at Citibank, Director of Capital Markets for PepsiCo, Inc., VP & Treasurer at Sunbeam Corporation and Office Depot, and Chief Financial Officer (CFO) at Furniture.com, Spencer Technologies and Celebrity Series of Boston. He is a Certified Public Accountant and Chartered Financial Analyst and holds a B.A. in Economics and Communication from Stanford University and an MBA from Harvard Business School.

Battle comes to EduLab Capital Partners with a deep international and sector-focused investment background. Before working at EduLab, Battle served as an Associate at Village Capital, an early-stage venture capital firm that invests in ventures solving major global challenges in education, agriculture, fintech, healthcare and sustainability. He graduated from the University of Virginia with a B.A. in Economics and Foreign Affairs.

Liam Pisano, Managing Partner of EduLab Capital Partners, commented, “We are thrilled to welcome Edwin and Dahler to the team. Edwin is an experienced operator and CFO with a strong base of experience within multiple industries. He will provide vital financial support for our portfolio companies. Dahler comes to us with both learning technology investment and portfolio management experience within an international platform, which will be key to our sourcing and investing activity. Given EduLab’s deep domain expertise and commitment to building companies, both of their roles will be impactful and accretive to our efforts.”

Over the course of 2019, EduLab Capital Partners global investment platform has made six seed stage investments, which are spread across the United States, Asia and Europe.

About EduLab Capital Partners

EduLab Capital Partners is a seed-stage venture capital firm focused exclusively on the education market, investing in business models that transcend the traditional education landscape. The Company’s Boston- and Tokyo-based team provides foundational support to entrepreneurs to help expand their customer base, make key early-stage hires, and raise additional capital for profitable and sustainable growth. EduLab’s education market savvy and artificial intelligence expertise provide unique leverage points for its investments, while the Company’s network of global partnerships and distribution channels provide its portfolio companies with the depth and reach to quickly accelerate product integration and impact. For more information, visit http://www.edulabcapital.com.

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Microdata Telecom Announces Expansion with the Acquisition of Kaelus


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Microdata Telecom Announces the Acquisition of Kaelus

“The acquisition strengthens Microdata Telecoms’ presence in the global telecommunications marketplace by a broader portfolio, customer base and more channels to market, while also providing attractive design and manufacturing synergies,” says Mats Gustavsson, Exec. Chairman of Microdata Telecom.

Microdata Telecom, a supplier of high-quality RF Conditioning solutions, today announces that it has acquired the Kaelus business from Infinite Electronics, Inc., a US-based global supplier of electronic components.

Kaelus is a globally recognized leader in test and measurement instruments, cell-site filters, combiners, and tower-mounted amplifiers. Formed in 2010, Kaelus provides the telecommunications industry with high-quality testing and conditioning products that enable global communication.

Kaelus brings strong engineering capabilities, world-class manufacturing operations, a diversified set of products, strategic customer relationships with many of the world’s largest telecom operators and is poised for future growth.

“The acquisition strengthens Microdata Telecoms’ presence in the global telecommunications marketplace by a broader portfolio, customer base and more channels to market, while also providing attractive design and manufacturing synergies,” says Mats Gustavsson, Executive Chairman of Microdata Telecom.

Kaelus and Microdata Telecom have a 3-year history of collaboration and joint business interests and share a culture that emphasizes innovation, flexibility, and performance. “We complement each other very well and we are excited about what this combination will deliver to our customers, partners, and employees around the world,” says Peter Sandberg, Chief Executive Officer of Microdata Telecom.

“Microdata Telecom has a strong reputation in the industry and is an excellent strategic fit for the Kaelus business and its talented employees,” says Penny Cotner, CEO of Infinite Electronics. “Infinite’s strength is in serving engineers’ urgent needs for electronic components and assemblies, with a broad portfolio of products available to ship same-day. This divestiture will allow us to better focus on this core and strategic growth areas.”

________________________________________

About Microdata Telecom

Microdata Telecom offers a broad portfolio of RF technology solutions, serving the global wireless telecommunications market.

Wireless Network Operators and OEMs around the world trust Microdata Telecom’s solutions to deliver improved radio coverage, capacity and quality in mobile networks.

The product range includes multiplex filters, reject filters, massive MIMO filters and TMAs, in a super compact design for minimum tower load and visual impact. Combining innovative product design, fast and flexible inhouse development and the best PIM performance available in the market (-165 dB), Microdata Telecom gives mobile device users a high-quality RF performance experience.

microdatatelecom.com

About Kaelus

Kaelus, is a recognized leader in test and measurement instruments, cell-site filters, combiners and tower mounted amplifiers. Kaelus was formed in 2010 by the combination of four entities each with a legacy of excellence in filtering technology. Kaelus continues to provide the telecommunications industry with high-quality, low PIM products that enable effective global communication.

Kaelus’ experience and understanding of the RF environment enables it to excel by developing technically differentiated offerings that are defining the next generation of network performance.

http://www.kaelus.com

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Dynamis Power Solutions Names New CEO


Dynamis Power Solutions

Says Evolution Well Services President, Jeff Morris, “Matt’s background in turbomachinery, rotating equipment and his familiarity with multiple industries uniquely qualifies him to lead the Dynamis business into new markets.”

Dynamis Power Solutions, an affiliate of Evolution Well Services, recently named Matthew Crawford as Chief Executive Officer.

Mr. Crawford joins the company after 13 years with General Electric holding various positions including Vice President of Sales, where he provided leadership to a team of Account Executives across the U.S. and Canada. During his tenure, he led the GE Oil & Gas North American Turbomachinery sales team with a total order plan of over $1B, including growing the onshore unconventional business from $0 to approximately $100M in total orders in just two years.

Says Evolution Well Services President, Jeff Morris, “Matt’s background in turbomachinery, rotating equipment and his familiarity with multiple industries uniquely qualifies him to lead the Dynamis business into new markets.”

“Dynamis is the benchmark for the mobilization of power. It was birthed in response to direct customer demand, coming on the heels of the great success of the Evolution Well Services fleets,” according to Crawford. “The quick mobilization/demobilization solution Dynamis offers, coupled with the 99.9% reliable LM2500 turbines, has gotten the attention of multiple industries from Oil and Gas and Industrial Data Centers to Agriculture and Commercial Grow Houses. And with natural gas prices at all-time lows, the fuel saving potential is greater than ever.”

About Dynamis Power Solutions

Dynamis Power Solutions combines their ultra-mobile design with the clean energy and operating efficiency of natural gas powered turbines to meet the needs of customers in a variety of industries. With an average mobilization/demobilization time of less than 14 hours for power from 2MW – 30MW, Dynamis is uniquely positioned to quickly deliver the right amount of power in the right location. Dynamis units can run directly off of field gas, utilizing natural gas that may otherwise be flared. The units can also run off of CNG, LNG or diesel, if necessary. This flexibility in operations and transports enables Dynamis to answer the call of almost any industry requiring short- and long-term power.

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Palm Beach County Real Estate Total Home Sales Rise in September


2019 JTHS-MIAMI President Kim Price

2019 JTHS-MIAMI President Kim Price

“Palm Beach is becoming more of an established community, and it’s attracting a diversified list of homebuyers”

Palm Beach County total home sales, median prices, dollar volume and luxury transactions increased year-over-year in September 2019, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Palm Beach County total home sales increased 3.1% year-over-year, from 2,261 to 2,332.

“Palm Beach is becoming more of an established community, and it’s attracting a diversified list of homebuyers,” 2019 JTHS-MIAMI President Kim Price said. “More residents of high-tax states such as New York and California are looking to live here because of Palm Beach’s overall growth as a county, from academic to health care to cultural institutions.”

Palm Beach Single-Family Home Sales Rise Double Digits in September

Palm Beach County single-family home sales rose 10.5%, from 1,227 to 1,356. Palm Beach condo sales decreased 5.6%, from 1,034 to 976. With consumer confidence rising, unemployment low, job creation high and increased migration to Florida, Palm Beach real estate should enjoy steady growth.

Luxury ($1-million-and-up) home sales increased for single-family homes and condos in September 2019. Single-family home luxury sales increased 46.5% to 104 transactions last month. Condo luxury sales increased 12% to 28 transactions.

The increased number of luxury transactions raised the total dollar volume for Palm Beach real estate last month. Single-family home dollar volume rose 31.1%, from $590.1 million to $773.7 million. Condo dollar volume jumped 16.3%, from $259 million to $301.2 million.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 3.61% in September, down from 3.62% in August. The average commitment rate across all of 2018 was 4.54%.

Lack of access to mortgage loans continues to inhibit further growth of the existing condominium market. Of the 9,307 condominium buildings in Miami-Dade and Broward counties, only 12 are approved for Federal Housing Administration loans, down from 29 last year, according to Florida Department of Business and Professional Regulation and FHA.

A new condo approval process could increase sales in the future. The new guidance, which goes into effect in mid-October, extends certifications from two years to three, allows for single-unit mortgage approvals, provides more flexibility with owner/occupancy ratios, and increases the allowable number of FHA loans in a single project. The changes, many of which MIAMI and NAR has championed, should yield thousands of new homeownership opportunities.

Another Month of Price Appreciation in Palm Beach

Palm Beach County single-family home prices increased 2.9% in September 2019, increasing from $345,000 to $355,000. Existing condo prices increased 7.7%, from $175,000 to $188,500.

Palm Beach Distressed Sales Stay Low, Reflecting Healthy Market

Only 2.8% of all closed residential sales in Palm Beach were distressed last month, including REO (bank-owned properties) and short sales, compared to 3.5% in September 2019.

Total Miami distressed sales decreased 16.5%, from 79 to 66.

Short sales and REOs accounted for 0.6% and 2.2%, respectively, of total Palm Beach sales in September 2019. Short sale transactions increased 50% year-over-year while REOs decreased 26.1% percent.

Nationally, distressed sales represented 2% of sales in September, unchanged from August but down from 3% in September 2018.

Palm Beach Real Estate Selling Close to List Price

The median number of days between listing and contract dates for Palm Beach single-family home sales was 53 days, an 8.2% increase from 49 days last year. The median number of days between the listing date and closing date for single-family homes was 98 days, an 8.9% percent increase from 90 days.

The median time to contract for condos was 59 days, a 11.3% increase from 53 days last year. The median number of days between listing date and closing date increased 7.6% to 99 days.

The median percent of original list price received for single-family homes was 95%. The median percent of original list price received for existing condominiums was 94.3%.

National and State Statistics

Nationally, total existing-home sales transactions fell 2.2% from August to a seasonally adjusted annual rate of 5.38 million in September. Despite the decline, overall sales are up 3.9% from a year ago (5.18 million in September 2018).

Statewide closed sales of existing single-family homes totaled 23,510 last month, up 11.5% from September 2018, according to Florida Realtors. Florida’s condo-townhouse market totaled 9,007, up 6.1% compared to a year ago. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

The national median existing-home price for all housing types in September was $272,100, up 5.9% from September 2018 ($256,900), as prices rose in all regions. September’s price increase marks 91 straight months of year-over-year gains.

Statewide median sales prices for both single-family homes and condo-townhouse properties in September rose year-over-year for 93 consecutive months. The statewide median sales price for single-family existing homes was $265,000, up 5.3% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $193,000, up 5.8% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

Palm Beach Cash Buyers Represent Double the National Figure

Palm Beach cash transactions comprised 39.4% of September 2019 total closed sales, compared to 42.7% last year. Palm Beach cash transactions are double the national figure (17%).

Condominiums comprise a large portion of Palm Beach cash purchases as 52.9% of condo closings were made in cash in September compared to 29.6% of single-family home sales.

Seller’s Market for Palm Beach Real Estate

Inventory of single-family homes 8.7% in September from 6,726 active listings last year to 6,144 last month. Condominium inventory decreased 5.7% to 5,357 from 5,678 listings during the same period in 2018.

Months supply of inventory for single-family homes decreased 6.5% to 4.3 months, which indicates a seller’s market. Existing condominiums have a 4.8-month supply, which also indicates a seller’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.

Total active listings at the end of September decreased 7.3% year-over-year, from 12,404 to 11,501.

New listings of Palm Beach single-family homes decreased 11.1% percent to 1,622 from 1,824. New listings of condominiums decreased 6.2%, from 1,499 to 1,406.

Nationally, total housing inventory at the end of September sat at 1.83 million, approximately equal to the amount of existing-homes available for sale in August, but a 2.7% decrease from 1.88 million one year ago. Unsold inventory is at a 4.1-month supply at the current sales pace, up from 4.0 months in August and down from the 4.4-month figure recorded in September 2018

To access September 2019 Palm Beach Statistical Reports, visit http://www.SFMarketIntel.com

Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.

About the MIAMI Association of Realtors

The MIAMI Association of Realtors was chartered by the National Association of Realtors in 1920 and is celebrating 99 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations, the Residential Association, the Realtors Commercial Alliance, the Broward-MIAMI Association of Realtors, the Jupiter Tequesta Hobe Sound (JTHS-MIAMI) Council, the Young Professionals Network (YPN) Council and the award-winning International Council, it represents 47,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 215 international organizations worldwide. MIAMI’s official website is http://www.MiamiRealtors.com

Greenberg Traurig Texas Shareholders Sandra D. Gonzalez and Adelaida Vasquez Accepted into HBNA Latina Executive Leadership Program


“Sandra and Adelaida are positive role models for women attorneys from all backgrounds and we congratulate them on being chosen. Their dedication to the profession and their clients are beacons in the profession and we look forward to many additional honors for both of them,” said Mary-Olga Lovett

Sandra D. Gonzalez and Adelaida Vasquez, shareholders in the Austin and Houston, Texas offices of global law firm Greenberg Traurig, LLP, have been accepted into the Latina Executive Leadership Program from the Hispanic National Bar Association (HNBA). The program is a new initiative of the HNBA’s Commission on Latinas in the Profession. The two-part, high-level leadership program is geared towards Latina lawyers who have been in the profession for more than 10 years and are high-potential, according to the organization. The program focuses on executive legal management, soft skills leadership training and executive coaching. The executive programming will provide training on a variety of tactics aimed at taking the careers of participants to the next professional level and improving their team leadership skills.

“Sandra and Adelaida are positive role models for women attorneys from all backgrounds and we congratulate them on being chosen. Their dedication to the profession and their clients are beacons in the profession and we look forward to many additional honors for both of them,” said Mary-Olga Lovett, Senior Vice President of Greenberg Traurig, the Co-Regional Operating Shareholder of the firm’s Texas offices and a member of the firm’s Executive Committee.

Gonzalez, resident in the firm’s Austin office, focuses her practice on international corporate compliance matters and more specifically, the Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act. She assists clients around the world to design, build, and implement anti-corruption compliance policies and procedures consistent with the elements of an “effective compliance program” under U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) guidelines. Gonzalez has advised clients on corruption issues in an array of scenarios including, assisting with internal investigations, designing and performing compliance assessments and risk assessments, performing compliance due diligence in mergers and acquisitions, training company personnel, and advising on relationships with third parties. She has advised clients in a variety of industries including: telecommunications, real estate, retail, oilfield equipment, financial banking, aerospace, and hospitality. To be sustainable, an anti-corruption compliance program must be practical, flexible, and adaptable, so that compliance resources are targeted to high risk areas. Gonzalez assists clients to tailor a compliance program to meet these goals.

Vasquez, a member of the firm’s Houston office, focuses her practice on international compliance matters and counsels companies doing business in international markets. She advises on a host of compliance and transactional due diligence issues arising out of various government regulations, including the FCPA and the UK Bribery Act. In addition to analyzing corruption risks in corporate transactions, she assists clients in designing and building anti-corruption programs, assesses existing anti-corruption programs, and advises on post-acquisition integration of anti-corruption programs. Vasquez’s practice also includes assisting with internal corruption investigations as well as designing and performing compliance audits and risk assessments. Vasquez has experience in handling compliance and diligence matters in Mexico, Central America, South America, the Caribbean, the United Kingdom, and South Africa. Her practice spans a wide variety of industries, including: telecommunications, retail, construction, healthcare/pharmaceuticals, energy, financial banking, aerospace, automobile, agriculture, and hospitality. She is a 2019 Leadership Council on Legal Diversity Fellow.

Gonzalez and Vasquez also serve as leaders of the firm’s Latino Affinity Group, Somos GT. The Group connects the firm’s Latino attorneys and allies based on a shared desire for greater collaboration and to increase opportunities for personal and professional development for Latino lawyers throughout the firm.

“We are excited to be part of this incredible program that seeks to empower and elevate Latinas in the legal profession. Today, Latinas make up only 1.47% of all lawyers although we represent one in four U.S. women. We welcome the challenge and are grateful to the HNBA and Greenberg Traurig for affording us this opportunity,” Gonzalez and Vasquez said in a joint statement.

About Greenberg Traurig, LLP – Texas: Texas is important to Greenberg Traurig and part of its history. With more than 125 Texas lawyers in Austin, Dallas, and Houston, Greenberg Traurig has deep roots in the Texas business, legal, and governmental communities. Greenberg Traurig Texas works with clients to address their interdisciplinary legal needs across the state utilizing the firm’s global platform. The Texas attorneys are experienced in industries key to the state’s future, including: aviation, chemicals, construction, education, energy and natural resources, financial institutions, health care, hedge funds, hospitality, infrastructure, insurance, media, medical devices, pharmaceutical and biotechnology, real estate, retail, sports, technology and software, telecommunications, transportation, and video games and esports.

About Greenberg Traurig’s Women’s Initiative: Greenberg Traurig is committed to its women lawyers’ success, which includes a firmwide women’s affinity group encompassing recruiting, retention, and business development. The firm regularly collaborates with like-minded organizations to address these issues on a broader scale in a variety of industries and communities. Greenberg Traurig also takes thoughtful action to when addressing issues such as maintaining a healthy work-life balance, breaking the glass ceiling, mentoring, creating and maintaining healthy lifestyles, and giving back to the community.

About Greenberg Traurig’s Diversity Initiative: From its inception, Greenberg Traurig has been committed to diversity and inclusion in the workplace. Greenberg Traurig is a uniquely empowering and diverse firm built on a foundation of fairness, equality, and authenticity. The firm’s efforts have been recognized by local, national, and global publications and organizations including Chambers and Partners. Web: https://www.gtlaw.com/en/general/our-firm/diversity Twitter: @GT_Drives.

About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has approximately 2100 attorneys in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law.