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Monday, June 27, 2011

It's not just cheap cars anymore, how business should be done!

Setting the quality benchmark Tata Housing voluntarily sought the assistance of Construction Industry Development Council (CIDC), a semi-government body which represents different companies in the real estate and construction space, to certify the Aquila Heights project. Mr Banerjee says, “We allowed the Aquila Heights project to be inspected on quality once every quarter for the entire period of the project. So impressed was CIDC by this experiment that it treated the case as a pilot programme to encourage other developers to make their businesses transparent for the benefit of consumers.” The agency’s experts visit the project site and inspect every facet of the construction and design, including the time taken, costs incurred, quality and durability of the material used, the quality of the workmanship, whether the material used is as per the prescribed norms, etc. Aspects such as plumbing, carpentry, flooring, etc are rated. The audit covers the resources and the processes used and the end-results achieved. The rating given by the agency instils confidence in consumers that the money they have invested is being used well. It also helps the company to benchmark its project against those of others. The attempt to get an external agency to regularly review its functioning is commendable considering that Tata Housing has to pay nearly Rs2-2.5 million to get this audit done. This cost is not recovered from customers. Mr Banerjee says, “The company pays for it from its profits. We do the audit to ensure that the quality of our work is excellent. It also becomes a benchmark for us, enabling us to keep improving our quality standards.” This audit is a joint certification for construction quality given by the CIDC and Construction Quality Rating Agency. The latter is the only Indian organisation to develop an objective construction quality audit system, to empower property buyers. Mr Banerjee says, “CIDC believes that this effort will enhance consumer confidence in the real estate sector.” Following this, the company has made it a policy to get all its projects audited on quality. Tata Housing has also initiated the third-party safety audit this year. Mr Banerjee says, “The safety of the people (our employees or those of the contractors) who work at our projects is of great importance to us.” This audit is carried out by the Government of India’s Ministry of Labour, a body that sets the Bureau of Indian Standards codes for safety in industry and construction. Processes are checked periodically at different stages of work completion. A spectrum of choice Interestingly, Tata Housing lays as much stress on the quality and safety aspects of PrivĂ© as on Shubh Griha. It is the only real estate company of repute to straddle different consumer segments along the entire value chain. It uses innovative means to make every project the best in its class. In the case of a project like Shubh Griha, Tata Housing has had to continuously examine the value proposition to make sure the offering is fully functional. Mr Banerjee says, “We have to constantly look at technology to bring down the cost. Green building solutions, for example, increase our capital expenditure but lower maintenance costs. We use sustainable building materials and use natural energy more efficiently to reduce dependence on artificial light and air conditioning.” The company has also attempted the joint development system whereby instead of buying the land, it paid the landowner a token advance, while getting, through a power of attorney, the irrevocable right to develop the land. As per this arrangement, Tata Housing can start building and selling the project, and keep paying the landowner a certain percentage of the revenue as compensation for the land. This scheme enables Tata Housing to be involved in a greater number of projects, with lesser capital. It also helps the company to de-risk its portfolio and grow at a faster pace. Already it has constructed an impressive 40 lakh sq feet of projects this year and increased its revenue from Rs1.3 billion in 2009 to Rs3.15 billion in March 2010. Tata Housing’s innovativeness has brought it to the attention of householders and the industry alike. The company is now raring to go further in its attempt to make a difference in the Indian real estate space. Tata Housing Development Company has been declared the Residential Developer of the Year at the Property Awards 2010 by Property World Publications. The Property Awards are one of India’s most prestigious real estate competitions dedicated to identifying the best real estate across the country. Winning this award is proof that Tata Housing is not only able to compete at this level but also win within this highly competitive, perception-based industry-specific arena. The award was conferred on Tata Housing at a grand ceremony in the presence of some of India’s most respected real estate professionals, business leaders, policy makers, entrepreneurs and visionary leaders. The company was also honoured with the prestigious Master Brand Award by the CMO Council (USA) and CMO Asia at the first-ever Master Brand Awards in India. It also received a Global Award for Brand Excellence for 2010 for New Haven at the World Brand Congress 2010. In addition, Tata Housing was also awarded the Best Developer - Corporate Social Responsibility award for Shubh Griha (Smart Value Homes) at the Cityscape Awards - Real Estate Asia 2010. It also won the 5-star and 4-star awards in the Best Development Marketing category and the Best Development award for New Haven and Shubh Griha, respectively, in Boisar, and the Best Architecture — for PrivĂ©, Lonavala — in the residential category at the Bloomberg Asia Pacific Property Awards.

Sunday, June 26, 2011

The Worst Real Estate Markets for 2011, forecast.

Here are the Worst R.E. market forecasts for 2011 in the USA...#1 is actually last in this case.
#1 Bend, OR -11.5%
#2 Las Vegas, NV -10.8%
#3 Atlantic City, NJ -10.8%
#4 Miami, FL -10.8%
#5 Medford, OR -10.5%
#6 Manhattan, NY -10.3%
#11 Providence, RI -9.2%
#12 Honolulu, HI -9.1%
#15 Naples, Fl -8.9%
#23 Phoenix, AZ -8.3%
#24 Chicago, Il -8.3%
#25 Atlanta, GA -8.2%

Saturday, June 25, 2011

Known as one of the most haunted houses...

Can you guess where this home is and what people call it? It was built in the late 1700' s in the USA, was built by a business man and attorney.The house was known for it's remarkable craftsmanship, with a mahogany staircase and woodwork imported from England. This home has been used for various movies and TV sets, one starring Ava Gardner. There is evidence of a least one murder being committed in the house, some however claim into the double digits. Take a guess...

Wednesday, June 22, 2011

Ferris Bueller's Day Off house for sale

To children of the '80s and other John Hughes aficionados, 370 Beach Street will always be Cameron's house from "Ferris Bueller's Day Off". It was from this distinctive midcentury modern home's glass-walled garage that the rascally Ferris and the reluctant Cameron liberated Mr. Freye's 1961 Ferrari, and the ravine this home is perched over is where the classic car later met its demise. The Ferrari that went through the window was of course a mock-up of the real car. They could not have an explosion in the ravine so smoke bombs were put in the shattered car for effect. The window was Hollywood glass and the original window was replaced after the shoot. Followers of modern architecture know the home for a different reason.
Acclaimed architect James Speyer, who was Mies Van Der Rohe's first graduate student and protege, designed this 4- bedroom, 4-bath in 1953. The former owners since the house was built were the famous textile designer Ben Rose and his wife. "Later in their lives [they] were European race car drivers and traveled the world collecting objects of art," notes Meladee. The Beach Street address is also known as Ben Rose Auto Museum. In addition, His work and the architectural works of James Speyer are at the Art Institute in Chicago.
$1,650,000.US, ask about details.

South African Real Estate market

The South African Real Estate market peaked in 2007, but when the South African National Credit Act went into effect on June 1, 2007, financing became harder to get and the market slowed. Since then sales volumes have dropped by nearly 40 percent in some parts of South Africa.
Most foreign buyers who come to South Africa are drawn to the Cape Town area as well as the Garden Route region, a lush, mountainous terrain stretching along the coast from the Western Cape into the Eastern Cape, is especially popular. Foreigners who buy in Johannesburg and Pretoria, which are both in the Gauteng province, commonly come from elsewhere in Africa, often Kenya, Nigeria and Tanzania. These same buyers are drawn by the well-regarded schools.
Foreigners are not restricted from owning property in South Africa, Ms. Thorpe said, but in general the maximum amount of financing they can get is 50 percent. That said, most foreigners pay in cash. Buyers pay a transfer tax, the exact amount depending on the purchase price. This house is listed at 6.5 million rand; its transfer tax would be 465,000 rand ($62,700), plus 29,000 rand ($3,900) for legal fees, 4,060 ($548) in value-added tax and another 1,000 rand ($135) in deed-transfer costs. When foreigners sell their South African properties, the government withholds about 20 percent of the sales price until all capital gains taxes are paid. Capital gains tax levels are pegged to income-tax bracket.

Tuesday, June 21, 2011

Global Real Estate results are at 50/50, some up, some down!

The global residential real estate market has weakened further as research reveals that prices fell or slid in half of all countries in the first three months of 2011 and the slowdown is expected to continue.
Prices in 25 of the 50 countries included in the index remained flat or saw negative growth in the first three months of 2011, compared to only 18 countries a year earlier.
In regional terms, Asia remains the top performing continent, recording 8.4% growth over the last 12 months. However, this is down from 17.8% a year earlier. The weakest region was North America.
The strongest performing countries were: Hong Kong, up 24.2%, where the government is fighting to pull inflationary pressures under control; India up 21.9%, and Taiwan, up 14.3%.
There were some predictable results, like house prices in Russia, fell 13.7% in the first three months of this year positioning it below Ireland in the rankings. On the other hand, France has jumped to sixth place in the rankings, up from 30th a year earlier. Sweden and Germany, by comparison, have experienced several quarters of positive growth only to fall back in the first quarter of 2011. In most of these cases, with the notable exception of Germany, the housing market is reflecting the wider economy’s performance as well as responding to domestic policy decisions.

UK R.E. down about 20%

New research has found that the value of UK residential construction starts was 31 per cent lower in the three months to May than a year previous, highlighting the struggling position of the country's housing recovery.
Private housing project starts were down 32 per cent while social housing projects fell 28 per cent for the reported period.
The north-east and south-east of England suffered 76 per cent and 42 per cent declines respectively for private housing development starts. London, meanwhile, avoided any declines in private housing project starts, reflecting the strength of the wider housing market in the capital.
House prices and mortgage approvals are expected to remain weak near term.
Prices have fallen back by an average of 20% since the economic downturn.

Monday, June 20, 2011

Father of the bride house for sale.

The "Father of the Bride", house is for Sale! Located on a street in million dollar homes, this Traditional Colonial features an impressive formal entry leading to the very large living room with hardwood floors and a fireplace. Off the living room is the walnut paneled study with its own fireplace. The large formal dining room is ideal for entertaining. The bright and cheery family kitchen will please any chef with all built-in appliances. A separate laundry room is located off the kitchen. A guest bedroom/office and full bath complete the first floor. . At the top of the spiral staircase you are greeted by a solarium, ideal for morning tea. The very large master bedroom has a full bath and walk-in closet. Rounding out th second floor are three additional bedrooms, one with it own 3/4 bath, plus another full bath. Unheard of in So. Cal. there is a full basement great for storage and and keeping rare bottles of wine. The back yard offers privacy from the mature trees and boosts a raised wood patio deck for alfresco dining. Built for the movie a beautiful arbor at the rear of the yard. There is a three car garage and auto gate on the driveway. This amazing home is perfect for a large active family that appreciate a quality custom built home.

Saturday, June 18, 2011

Enough with the zoom & gloom already! now IS the time to buy R.E.

Sure, maybe there's more pain to come in the housing market. But when Time magazine starts running covers that declare "Owning a home may no longer make economic sense," it's time to say: Enough is enough. This is what "capitulation" looks like. Everyone has given up. After all, at the peak of the bubble five years ago, Time had a different take. "Home Sweet Home," declared its cover then, as it celebrated the boom and asked: "Will your house make you rich?" But it's not enough just to be contrarian. So here are 10 reasons why it's good to buy a home. 1. You can get a good deal. Especially if you play hardball. This is a buyer's market. Most of the other buyers have now vanished, as the tax credits on purchases have just expired. We're four to five years into the biggest housing bust in modern history. And prices have come down a long way- about 30% from their peak, according to Standard & Poor's Case-Shiller Index, which tracks home prices in 20 big cities. Yes, it's mixed. New York is only down 20%. Arizona has halved. Will prices fall further? Sure, they could. You'll never catch the bottom. It doesn't really matter so much in the long haul. Where is fair value? Fund manager Jeremy Grantham at GMO, who predicted the bust with remarkable accuracy, said two years ago that home prices needed to fall another 17% to reach fair value in relation to household incomes. Case-Shiller since then: Down 18%. 2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. What's not to like? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won't see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, you can refi. 3. You'll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you'll get a tax break on capital gains-if any-when you sell. Sure, you'll need to do your math. You'll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting. 4. It'll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension-zoning permitted-or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You'll feel better about your own place if you own it than if you rent. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. "You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy." It was a small sign that said something big. Buying a Home, Good Idea? With Little to Do, Home Builders Focus on Quality In Monaco, the 'Most Expensive' Home House of the Day: Private Maine Island 5. You'll get a better home. In many parts of the country it can be really hard to find a good rental. All the best places are sold as condos. Money talks. Once again, this is a case by case issue: In Miami right now there are so many vacant luxury condos that owners will rent them out for a fraction of the cost of owning. But few places are so favored. Generally speaking, if you want the best home in the best neighborhood, you're better off buying. 6. It offers some inflation protection. No, it's not perfect. But studies by Professor Karl "Chip" Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That's valuable inflation insurance, especially if you're young and raising a family and thinking about the next 30 or 40 years. In the recent past, inflation-protected government bonds, or TIPS, offered an easier form of inflation insurance. But yields there have plummeted of late. That also makes homeownership look a little better by contrast. 7. It's risk capital. No, your home isn't the stock market and you shouldn't view it as the way to get rich. But if the economy does surprise us all and start booming, sooner or later real estate prices will head up again, too. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities-for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy-if it happens-and still managing to sleep at night. 8. It's forced savings. If you can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won't. Most, I dare say. Once again, you have to do your math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline. 9. There is a lot to choose from. There is a glut of homes in most of the country. The National Association of Realtors puts the current inventory at around 4 million homes. That's below last year's peak, but well above typical levels, and enough for about a year's worth of sales. More keeping coming onto the market, too, as the banks slowly unload their inventory of unsold properties. That means great choice, as well as great prices. 10. Sooner or later, the market will clear. Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out. Many of the homes will be bought. But many more will simply be destroyed-either deliberately, or by inaction. This is already happening. Even two years ago, when I toured the housing slump in western Florida, I saw bankrupt condo developments that were fast becoming derelict. And, finally, a lot of the "glut" simply won't matter: It's concentrated in a few areas, like Florida and Nevada. Unless you live there, the glut won't have any long-term impact on housing supply in your town.

Friday, June 17, 2011

Shanghai is poised to be the new financial capital within 10 years

Shanghai is on track to becoming the world's largest financial centre in a decade, according to a new report. Shanghai will become increasingly important as China develops its stock, currency, bond and derivative markets. One key development will be launch of the Shanghai stock exchange's international board, which the report says should happen in the near future. That will allow foreign companies to raise funds by listing shares in China.
A debut could conceivably occur before the end of 2011. China's stock market has grown from $400bn (£250bn) in 2005 to $4tn in 2010 as more than 500 companies have gone public.
There was now room for sustained growth in debt and derivative markets, which are still in their infancy in China.
A key challenge would be liberalising China's currency, which is still tightly controlled. Although China has taken steps to internationalise its currency, there are still limits on the flows of money in and out of the country.

Thursday, June 16, 2011

Canadian home sales rise 8.6%, year over year

The national average price for homes sold in May 2011 was $376,817, up 8.6 per cent from the same month last year.
With sales and new listings holding steady on a national basis in May, the resale housing market remained firmly planted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 52.1 per cent in May, little changed from 52.5 per cent in April.
Highlights:
Sales activity held steady from April to May, but posted the first year-over-year gain in over a year due to falling demand in May 2010.
Year-to-date sales are in line with the ten-year average.
New listings also remained stable from April to May.
National housing market remains firmly entrenched in balanced territory.

Wednesday, June 15, 2011

Bank of Canada Governor makes unusually blunt remark re: Housing

Bank of Canada Governor Mark Carney used unusually blunt language Wednesday to warn that "excesses" may exist in parts of the Canadian housing market. Carney made the remarks during a speech to the Vancouver Board of Trade — in a city where the average home price rose by 25.7 per cent to $831,555 between May 2010 and the same month this year, according to data from the Canadian Real Estate Association.
Carney said housing in some cities is "severely unaffordable." On average, he said, national house prices have risen 31 per cent from their trough in early 2009, and are now 13 per cent above their pre-financial crisis peak. The central bank governor did not suggest that house prices in general are unsustainable, but he warned of the "possibility of an overshoot," or correction in prices, in the condo markets in some major cities, mainly because of ample development already under way and heavy investor demand, especially from foreign buyers and investors. The average level of house prices nationally is now nearly 4.5 times average household disposable income, Carney said. This compares with an average ratio of 3.5 over the past quarter-century.
Home ownership costs creating 'financial vulnerabilities' The cost of home ownership is close to its highest level since records were first kept in 1949, he said, creating 'financial vulnerabilities," should there be an economic downturn. In fact, the bank estimates that the proportion of Canadian households that would be highly vulnerable to a downturn has risen to its highest level in nine years, despite an improving economy and low interest rates. Carney suggested some parts of the Canadian housing market risk being dominated not by forces or supply and demand, but by the emotions of greed and fear. "Greed among speculators and investors — and fear among households that getting a foot on the property ladder is a now-or-never proposition," he said. Without making any reference to the bank's intentions on interest rates, Carney repeated his previous warnings that, in general, over the life of a mortgage, interest rates will often rise.
At its last meeting on May 31, the bank's monetary policy committee held its benchmark interest rate steady at one per cent, the sixth straight time the bank has opted to stand pat.

Tuesday, June 14, 2011

Why Home Ownership is Good for the Economy?

Historically, home owners’ net worth has ranged from 31 to 46 times that of renters.
A fixed-rate mortgage might not change for 15 to 30 years; rent typically increases 3% per year.
Every home purchased pumps $60,000 into the economy.
So, you still want to rent?

Monday, June 13, 2011

The Top Two Tips For Finding A Realtor

You know that your perfect home is out there, but how do you find it? The right realtor will represent your interests during the home selection and home buying process, and will work on your behalf when it comes to negotiations with the seller as well. This is why it is so important to take the time to find the right one. Doing your research can involve asking friends and family members who have recently purchased a home for realtor recommendations.
Realtors reputations are based on the effectiveness of their services and their level of customer services, and asking other people for their opinions and using Internet resources can help you eliminate prospective candidates and narrow your choices down as well. Every realtor is different, so don’t feel discouraged if it seems as though you are having trouble finding one with whom you can work well with, sometimes it just takes a little extra time. You should also familiarize yourself with the way that their services are set up, which will help you to figure out how much commission they will expect to receive, which makes a difference in your total home costs.
Most realtors have websites which list their credentials and successes as well as the areas where they have helped to close the most home sales. Of course, it goes without saying that if you have never worked with a realtor before, you owe it to yourself to become educated about real estate basics. Never agree to put any money down until you have found a home and have signed a contract, and never sign a contract at the beginning of the deal. The most important thing is to make sure that your realtor will be receptive to your wants and needs and will not try to take advantage of your inexperience.
The first phone call with them will usually tell you everything you need to know about their approach, and if you are uncomfortable with any part of it, you should choose another realtor. Whether the home is your first of fiftieth, finding the right realtor to help is a huge key to walking into what you want. It is through the realtor that you will have the easiest time with making negotiations, communicating with the others involved and finding exactly what you want.

Friday, June 10, 2011

Buying property in Brazil or Turkey?

Some people dream of moving countries for better weather, other want to escape the dull, drab place they live and fill their lives with adventure. Still others merely want a place where they will be welcomed with open arms and feel part of a community. Everyone has a different idea of paradise. In order to achieve their dream all they need to do is a little research.
Property for sale in the Caribbean or Turkey or even sunny Brazil. The market for property in turkey has been growing steadily over the last three years. People are finally starting to wake up to the delights it offers as a new place to live. Turkey is widely regarded as having a very relaxed pace of living, if laid back is your way then this could be a place you might want to consider. No one here seems in too much of a hurry which for most of us living a harried existence sounds like bliss. The added bonus to all of this is the astounding scenery you can take get access to in Turkey, few are aware of quite how stunning parts of Turkey are. Because of the variety of landscapes in turkey there are loads of different activities you can undertake to spice up your life, these include skiing and hiking and swimming. If it is hard to think of a more idyllic life then perhaps property for sale in turkey is for you.
Brazil is a superbly cultured and colorful place. Many people say it is a country with soul. Its many festivals and celebrations add excitement to an already adventurous place to live. The place is a whirl wind of sights, smells and wonderful cuisine. It is a true joy for the senses and one that people often do not realize has such inner joy until they visit it. Many find that they then cannot leave behind its wonderful attractions. Brazil’s population are a famously religious people with a large number being Roman Catholic but far from being restricting this just seems to add to the spiritual nature of the place. In Brazil you are certain to be offered a fantastic welcome and unprecedented hospitality, that is just the way the place is. If this sounds just up your street then it is time to consider property for sale in Brazil.
When people conjure up a stereotypical picture of paradise they traditionally think of palm trees and vast white beaches. Cocktails on the shore and the sun glinting off a perfect emerald ocean are often part of the picture too. It would be easy to think that these pictures are just a dream and that nowhere like that could actually exist. It is just too perfect but anyone who has ever visited the Caribbean will tell you that this stereotype is very real.

Thursday, June 9, 2011

Rio De Janeiro Luxury Apartments booming.

Carnival, the exciting gyrations of Samba, the spectacular tropical beaches and also the normally outgoing Brazilian way of life are not the only reasons why many would like to pay a visit to or live in Brazil, the property sector, particularly in Rio de Janeiro, Copacabana, Ipanema, Leblon, Botafogo and Barra de Tijuca is flourishing big time. Property prices for both homes and apartments inside the Marvelous City are climbing. The Brazilian economy is growing at a strong speed thanks to its large quantity of commodities such as Oil, precious metals, coffee as well as some other emerging business markets. The Bovespa has been energetically increasing ever since the crisis in the Untied States. Because of this, the middle class segment has been widening and those men and women are in the market and able to afford property. In the past, the interest rates had been very high and lending products were not as easy to come by but because the selic rate has been brought back to an appealing amount for borrowing money, this has added to the growth. Banking institutions are approving home mortgages at an unprecedented rate and even though the real estate markets within nations such as the Usa and England have been in a major record level slump, the growing market of Brazil is seeing strong economic times. And because Brazil is the eighth largest economy in the world and is showing no signs of letting up, purchasing a home or apartamento there is a safe and stable investment. The market for rental property has also been an excellent reason to invest in property in South america. Their tourism has never been stronger, specifically in Rio de Janeiro and with the country all set to host the World Cup in 2014 as well as the Olympics in 2016, the national infrastructure will encounter significant upgrades and tourism will only get better. Which indicates if you’re leasing your property to business travelers or households on holiday, vacancies will probably be uncommon and you will be getting top dollar leasing rates. You can’t disregard the statistics with regards to considering the purchase of a home or apartamento in Rio de Janeiro or South america overall. In the past eight years, over 20 million Brazilians have enhanced their circumstance and have been removed out of poverty. Merge that with high demand and low supply (Brazil has about five million fewer housing units than it needs), you now have a recipe for ongoing development and expansion. In spite of brand-new high rise complexes being built at a record level, demand is still outpacing supply. The Brazilian banking institution Caixa Economica said this current year it expects bank loan lending to leap to $42 billion in 2010, upward from $28 billion last year.

The 3 Greenest Homes in the World

The Mini House: Tiny house construction got plenty of attention this year, and we’re not talking dollhouses. People all over the country are building and living in homes that cover well under 1,000 square feet and require very little energy or other resources.
A 15-year-old kid in California, is building a 130-square-foot house, and blogging about his progress. He just finished the roof at the end of November, so he’s not quite ready to move out of the parents’ house yet, but the home is on a trailer bed, so he plans to take it with him to college. He’s using the a design from a green company, a leader in the tiny house movement.
The company estimates a DIYer can build the Fencl for about $23,000, or buy it readymade for $54,000.
The Parking Space House: A 39-year-old Japanese man lives with his mother on an even smaller piece of real estate. He built a space- and energy-efficient three-story home on the site of a former parking space. He has large, south-facing windows that let in natural light and passive solar heat while creating an illusion of more space.
Whole Trees Homes: The owner sees rafters where logging companies see weeds. His company, builds structures out of small, intact trees. This practice is more sustainable for the forest and certainly less wasteful for the planet than milling trees down to standard construction lumber. The company completed at least two homes this year, including the Albertson house, which covers less than 1,000 square feet and includes exterior paneling made from used shipping pallets.

Tuesday, June 7, 2011

Up to 1 million new households will be created in 2011

Between 750,000 and 1 million new households will be created in 2011. That compares with just 357,000 added in the year ended March 2010, the lowest on record, according to the Census Bureau. As employment picks up, new households are likely to rise above the past decade’s average of 1.3 million a year.
In recent years, many households have doubled-up as a result of hard economic times. Individuals that might normally have rented or purchased their own place have moved in with parents or children to save money.
As economic conditions improve, many of these households will split back up as members seek to reestablish their independence. Combine an end to record low household formation with a period of record low housing construction and you have substantial support for both housing prices and rents.

The ten most expensive countries to buy a home in Europe

Average per square metre (sq. m.) prices in € of 120-sq. m. apartments located in the centre of the most important city of each country, either the:
Administrative capital; and/or Financial capital; and/or The centre of the rental market Residential square metre prices published are based on in-house research, using a simple method that systematically scan web advertisements, looking at offers for sale, and offers for rent, of resale apartments and houses.
Properties are in excellent condition, with good facilities, and have been refurbished or redecorated within the last five years.
Newly-built and pre-sale property prices are not included. Buyers should expect the prices of new properties to be higher than house prices published by the Guide.
Monaco €44,300
UK €17,300
Russia €13,692
France €11,861
Switzerland €8,868
Luxembourg €6,269
Greece €6,229
Finland €6,095
Ireland €5,391
Italy €5,305

Monday, June 6, 2011

China, Singapore and Hong Kong...may be ready to burst their bubble

Real estate prices in China, Singapore and Hong Kong need monitoring for signs of bubbles forming as Asia continues to grow rapidly this year. China, says Les Sohar of Re/max and soharworldhomes.com.
 Singapore and Hong Kong need to be watched for asset bubbles, especially real estate prices, Sohar told a webinar, yesterday. He also warned of inflationary pressures in China and said that China and India would lead the way in economic growth.
Home prices in Hong Kong are at their highest in 12 years, while residential and commercial real-estate prices in 70 cities in China climbed 7.8 percent in December, the fastest pace in 18 months. In Singapore, a record number of private homes were sold last year. China's economy is overheating as asset bubbles and inflation pressures build, posing a "major risk" to global growth, the World Economic Forum said.
Hong Kong residential property prices will rise about 5 percent this year, Credit Suisse Group AG analysts said.. Prices of existing homes in Hong Kong, which rose 29 percent last year, advanced further to reach their highest in almost 12 years as of May, 2011., according to Sohar, an International Real Estate Expert. Record-low mortgage costs, near-zero interest rates on savings deposits and buying from rich mainland Chinese stoked demand even as Hong Kong Chief Executive Donald Tsang said Jan. 14 there is no "obvious bubble" in the city's property market. In November, Tsang had warned that rising asset prices in cities including Hong Kong and Singapore were "going up to levels that are incompatible or inconsistent with the economic fundamentals." To help ease a shortage of homes, Hong Kong held its third land auction in January.
In China, property prices rose at the fastest pace in 18 months in May, with residential and commercial real-estate values in 70 cities climbing 7.8 percent from a year earlier, the National Development and Reform Commission said last week. To cool speculation, the government a couple of months ago reimposed a sales tax on homes sold within five years of their purchase, after cutting the taxable period to two years in January 2009 to bolster a market that was then flagging.
The central bank also raised lenders' reserve requirements from yesterday, seeking to rein in liquidity from record lending without stalling a recovery. A total 14,991 units were sold in 2009 in Singapore, according to Bloomberg calculations, beating the historical high of about 14,800 units set in 2007.

Friday, June 3, 2011

Canadians buying more and more homesin the USA

In Arizona’s Maricopa County, where Californian’s were once the biggest source of outside homebuyers, a recent report has found that Canadians have now taken their place.

According to figures tracked by John Burns Real Estate Consulting, which is based out of Irvine, California, Canadians supplanted Californians as the biggest buyers in the county from December 2009 through to June of this year. Arizona isn’t the only place seeing a large number of Canadian buyers, however, as Jed Smith, who is the managing director of quantitative research for the NAR, has also reported that Canadians have significantly increased their presence in the United States real estate market. Consider these findings:
Canadians accounted for 11% of foreign homebuyers in 2007
From April 2007 to April 2008, Canadians accounted for 24% of foreign buyers
From April 2008 to April 2009, Canadians accounted for 17% of foreign buyers
From April 2009 to April 2010, Canadians accounted for 23% of foreign buyers

As a result, the NAR is reporting that Canadians have been the top foreign buyers over the last three years, followed by Mexican, UK, Chinese, German/French, Indian and Argentinean/Brazilian investors.

Thursday, June 2, 2011

UK 1st. time buyers throwing away their hard earned money

An unassisted first-time buyer in England will typically spend £81,321 ($129,948 CDN) over a period of 16 years on rent by the time they buy their first home, according to analysis from FindaProperty.com. The figures show that even those lucky enough to receive financial support when buying their first home – for example from “the bank of Mum and Dad” – will still be renting for an average of nine years and will spend £36,413 ($58,166 CDN) on rent in the process.
This is £44,908 ($71,728 CDN) less than the average lifetime rental spend of an unassisted buyer, who doesn’t get a financial leg up from their parents. Regional variations in this “lifetime rental spend” are dramatic, with those in the south paying substantially more over a longer period of time before they are able to purchase their first home. London has the country’s highest rental costs, and today’s unassisted first-time buyers will spend an average 31 years renting before they are able to buy their first property, spending more in the process than they would on their first property.
  A Londoner buying a home without any financial support from their family can expect to spend £308,558 ($492,816 CDN) as a renter, a fifth more than the typical cost of a first home in the capital.

Wednesday, June 1, 2011

Competition Bureau VS TREB, the big fish trying to swallow hundreds...

The Competition Bureau is suing the largest real estate board in Canada, alleging the Toronto Real Estate Board is preventing agents from creating new services that would lower costs for consumers. Where they get this idea from I don't know. I presume that would mean that the competition bureau assumes that agents don't give there clients all the information they require to make a good decision.
  The Toronto Real Estate Board represents 31,000 agents, and operates the Multiple Listing Service for the region. The Competition Bureau alleged Friday that the board is “restricting how its member agents can provide information from the Toronto MLS system to their customers, thereby denying member agents the ability to provide innovative brokerage services over the Internet.” I hate to bring up the obvious, but this service and it's information is owned and controlled by the agents for the agents, not the public at large, nor their customers.
The listings system that agents have access to contains more information that the public can see on Realtor.ca, the Canadian Real Estate Association's hub for listings. While agents can provide customers with that data by hand, mail, fax or e-mail, the Competition Bureau said the board's “anti-competitive practices effectively prevent agents from providing the same MLS listing information to customers via a password-protected Web site.” It appears that the bureau has forgotten that not long ago it forbid agents from releasing sold data, prior to a home closing, I guess that was okay.
This prevents agents from setting up “virtual office web sites,” which would permit customers to search a full inventory of listings containing all of the available data. “This enables customers to be more selective and focused, and agents to spend less time trying to find an appropriate property for a specific customer,” the Competition Bureau said in a statement. “Today, consumers are demanding a greater selection of service and pricing options when buying or selling their homes and many agents are eager to accommodate them,” said Competition Commissioner Melanie Aitken. “Yet TREB’s leadership continues to impose anti-competitive restrictions on its members that deny consumer choice and stifle innovation.”
It would have been nice to receive more than one prospective, like the agents, the brokers or TREB. Perhaps next time the heavy hand of the bureau can spend it's time going after the gas stations, that can remarkably co-ordinate gas prices minutes apart, anywhere in the country...must be esp! Or the banks that impose a fake mortgage rate for the public, about 1-1.5% higher than the rate most people can negotiate, if they know better. I guess they would be hard to take on, better the realtor, what can they do!