CRE Veteran Jon Spelke Joins LFB Ventures to Head New Office in Los Angeles

Los Angeles, Calif.—July 12, 2022—Jon Spelke, a 25-year commercial real estate veteran, has joined Encinitas, CA-based LFB Ventures (“LFB”). LFB is a diversified real estate company offering direct lending to the residential building industry, capital advisory and commercial brokerage services nationwide. Mr. Spelke will head the Los Angeles office as Managing Director. 

In addition to managing this office, which is located at 270 Coral Circle, Suite 200, El Segundo, Mr. Spelke’s duties will also include growing LFB’s lending and capital advisory businesses nationally. 

“When we started looking into opening a Los Angeles office, we also started the search for the person who would manage this office. Jon’s tremendous amount of experience in commercial real estate, coupled with his managerial skills was a major factor in our hiring decision,” said LFB Founder and President Blake Bitterlin. “Additionally, as we continue to expand our platform nationwide, Jon will become a key component to our efforts.” 

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LFB Ventures Lends $37M on Georgia SFR Development

Developer Amir Peleg has secured $36.6 million of construction financing to build a new multifamily and single-family home development in suburban Atlanta, Commercial Observer can first report. 

LFB Ventures provided the loan for Peleg’s planned two-phased Weatherstone development in Dallas, Ga.,to build 280 single family homes across four different models. A vast majority of the homes have already been sold to a single-family residential fund (SFRF) and individual investors. 

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‘We’re seeing real-estate markets transition toward a new normal’: 4 economists and real-estate pros on what to expect from home prices short term and longer term

Home prices have been on a rapid ascent: Depending on which gauge you look at, U.S. home prices have been rising at a pace of 15% to 20% a year. But pros say that rapid ascent is likely to slow through the next year or so, as mortgage rates continue to climb (see the lowest mortgage rates you can qualify for now here). Here’s what experts told us they expect to happen to home prices both in the short and longer terms. 

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What home prices will look like in 2023, according to Zillow’s revised downward forecast

Appreciation despite inflationary environment and fundamentals

There's no doubt about it: Soaring mortgage rates are an economic shock to the U.S. housing market. Over the past month alone, the average 30-year fixed mortgage rate has spiked from 3.11% to 5.11%. It's both pricing out some stretched homebuyers and causing some would-be borrowers to lose their mortgage eligibility.

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Big landlords jump into the homebuilding business as demand for single-family rentals surges

The push comes as more Americans have the flexibility to work from anywhere and are looking for larger spaces with outdoor areas.

According to the National Association of Home Builders, there were 13,000 new single-family homes started as rentals in the first quarter of this year, up 63% from a year ago.

Homes-built-for-rent still represent just 5% of the home building market, but that's up from the 2.7% historical average, according to the association.

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A Housing Market Like No Other

Price appreciation despite inflationary environment

Rising mortgage rates have historically put the brakes on home-price appreciation, but this housing market is like no other. Record-low supplies, years of conservative lending and other factors suggest that home prices should continue appreciating, though at a slower pace.

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