Jabong Mailer (CPA)
Showing posts with label real estate property in Varanasi. Show all posts
Showing posts with label real estate property in Varanasi. Show all posts

Thursday, 17 December 2015

After floods its business as usual for Chennai real estate

The recent unprecedented floods in Chennai has indeed put a spanner in the works of the real estate firms in the booming southern metropolis and its fledgling outskirts, albeit briefly.

After almost two weeks of hibernation and bright sun shine for almost ten days, it is business as usual for real estate firms, which are using innovative means to lure people to sell their projects. While some draw people's attention by claiming that the areas where their residential projects are coming up are safe as they have not been affected by floods, others are making indirect attempts to sell their projects in worst affected areas in and around Chennai by becoming good Samaritans.

U.S. real estate could see more foreign investment ahead

U.S. assets like real estate may be more attractive to foreign investors in the months ahead.

In contrast to much of the industrialized world’s easy money policy, the Federal Reserve chose to tighten slightly with the start of a rate hike cycle on Wednesday. The divergence in monetary policy is seen as a potential source of volatility in the coming year.

According to Mitch Roschelle, partner at PricewaterhouseCoopers, uncertainty in global currencies, stocks, and bonds could benefit hard assets like U.S. real estate.

“Whenever there's instability in a society or in the world, investors tend to rotate towards the non-trading asset,” he said. “They rotate to real estate as opposed to the trading asset.”

Saturday, 12 December 2015

Plum Island’s Pink House Inspires a Real Estate Fantasy

Several years ago, I called a real estate agent in my hometown, Newburyport, Mass., with (as one tends to bring to agents) a fantasy. I wanted to buy the Pink House.

I had first glimpsed this house as a child, from the back seat of the family station wagon en route to the beach. The foursquare single-family home sat alone on the road out to Plum Island, overlooking a vast flat landscape of pristine salt marsh. The sight unnerved me and became a mainstay of my nightmares: A lonely, unloved thing looming against a howling sky, its cupola a leering, all-seeing eye.

Over time, my unease had mellowed to familiarity, then affection, which deepened upon hearing its rumored back story: In 1925, a wife agreed to divorce her husband on the condition he build her an exact duplicate of the home they shared in town.

Because she didn’t specify where the house should go, he built it where it would cause her the most unhappiness: by itself, far from everything, no fresh running water (only salt). There’s a term for this: “spite house.”

Real Estate Pros Try Their Hand At Purple Prose In Selling The Priciest Homes

Some real estate agents are now trying a different method in getting the priciest homes out of their inventory, and it's not home staging, nor offering crazy incentives, Stefanos Chen of The Wall Street Journal reports.

Real estate website realtor.com conducted a listings language analysis and found out that the property's price tag greatly affects the listing's property description. The analysis has shown that the pricier the home, the more flowery verbiage are used to describe the property, and that luxury agents are penning purple prose to close deals.

"Majestically poised along the shimmering Gulf of Mexico," were the introductory words for a 222-word property description for a $10.9 million beach home in Sarasota, Fla. It also cites the "unique harmony" of this "haven of serenity" suitable for "undisturbed reflection."

Using a 1970's algorithm used for school-grade levels called Flesch-Kincaid scale, the Fla. Listing scored at the 12th-grade reading level.

Friday, 11 December 2015

Real estate prices to keep rising in GTA

House prices in the GTA will continue to soar next year, according to RE/MAX realtors. 

The region remained a sellers’ market this year with sales up 8% over 2014.

The average price of a single-family home is $804,079, and high demand and low supply are expected to boost that figure another 5% next year.

Toronto

First-time homebuyers in Toronto typically entered the condo market in 2015, so they could live in the city centre at a more affordable price. The RE/MAX forecast says price increases for single family homes outpaced those in the condo market, making it difficult for condo owners to trade up. Many high-end luxury homes were sold to local move-up buyers as well as buyers from China and the Middle East.

Mississauga

Homes in high-demand neighbourhoods, such as Erin Mills, often fetched multiple offers, which wasn’t the case a few years ago. First-time buyers in Mississauga were typically families leaving Toronto or new immigrants who tend to purchase town homes or semi-detached homes in the range of $500,000. Prices are expected to jump 6% in 2016.

Brampton

Brampton is considered an affordable market for first-time buyers in the GTA, with an average price of $488,300. Many millennials are living with parents or renting as they save and wait for a good deal so they can enter the market. Young buyers tend to favour condos in the growing downtown area, which is close to both Pearson airport and Toronto.

Dubai real estate firm removes Donald Trump's name from project

Golf has a Donald Trump problem. This shouldn't be that difficult to explain given his integration in the sport and his recent comments to the media about various groups of people as he tries for the 2016 Republican presidential nomination.

These two things coincided this week when Trump's name was removed from a project he is working on in Dubai. Trump stated that all Muslims should be banned from coming to the United States. Here's Reuters on the backlash in Dubai from Trump's real estate partner.

A Dubai real estate firm building a $6 billion golf complex with Donald Trump on Thursday stripped the property of his name and image amid a backlash over the U.S. presidential candidate's proposal to ban all Muslims from entering the United States.

A spokesman for DAMAC Properties, Niall McLoughlin, declined to comment on why Trump's image had been removed from a billboard outside the project construction site, along with that of his daughter, Ivanka Trump.

Realty permits in green zones okayed in Haryana

GURGAON: The Haryana government has paved the way for more real estate in the natural conservation zone of the Aravalis, drawing howls of protest from environmentalists who feel this could destroy its already fragile ecosystem.

In a letter to the district administrations and other officials of Gurgaon, Faridabad and other districts, the government said permissions for construction in natural conservation zones before August 12, 2014 would be considered valid. The letter, dated October 16, and issued by the office of the district town planner, further stated the government has decided to do this to avoid litigation.

But environmentalists see this as a backdoor move because the process to demarcate natural conservation zones anew is still on through a method called ground-thruthing.

"Instead of summarily cancelling all licences, Haryana government has chosen to take the side of the builders' lobby and put its seal of approval on environmental shenanigans of the previous government," said Chetan Agarwal, a Gurgaon-based environmentalist.

Real Estate News: Sellers are Not the Only Ones to Benefit in Home Remodeling

The primary goal of homeowners to remodel their houses is to make their homes more appealing when they are listed in the market, but a recent report from the National Association of Realtors has revealed that home remodeling can also benefit homeowners that don't have plans to sell their homes.

"Realtors® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home," said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. "But remodeling projects are just as valuable to homeowners who simply want to get more joy out of their dwellings. Regardless of the situation, Realtors® know what remodeling projects bring the biggest bang for the buck and what projects are most likely to improve a homeowner's impression of their current place."

Hollo School of Real Estate ranked No. 1 nationally, No. 2 globally

FIU College of Business’ Hollo School of Real Estate ranked No. 1 in the United States and No. 2 globally for its faculty’s real estate research in a study that will be published in the Journal of Real Estate Literature this month.

The Real Estate Academic Leadership (REAL) rankings highlight the authors and institutions demonstrating achievement in intellectual contributions to the field of real estate over the last five years.

FIU outranked the University of Wisconsin-Madison, Massachusetts Institute of Technology and Cornell University. Internationally, the real estate program placed second to National University of Singapore.

“This ranking mirrors the pride we take in our rigorous, relevant, cutting-edge research,” said William G. Hardin III, director of the program. “In this way, FIU’s Hollo School helps practitioners throughout the world understand the market determinants of success and failure in real estate.”

The real estate program offers graduate, undergraduate, dual degree and online degree programs, including a Master of Science in International Real Estate (MSIRE).  Its unique combination of face-to-face classes and Internet-based live Classroom Capture Technology has led many international real estate leaders with extensive travel schedules to pursue the MSIRE degree. The College of Business program has five full-time faculty members and 93 enrolled students.

“The Hollo School is spearheading innovative research for noted economists and worldwide leaders of the real estate profession,” said Jose Aldrich, acting dean of the College of Business. “Congratulations to director Bill Hardin and this top-notch group of faculty scholars, who bring their expertise and passion for the field of real estate to our classrooms.”

The rankings are based on the number of publications in the top three peer-reviewed real estate journals – the Journal of Real Estate Finance and Economics, the Journal of Real Estate Research, and Real Estate Economics – from 2011 to August 1, 2015.

10 Incredible Numbers from Canada’s Real Estate Bubble

Canada’s Real Estate Bubble Is Jaw-Dropping
Canada’s housing market is overpriced and the nation’s real estate bubble is due to burst at any moment. At least, that’s what we’re told.
This message has been repeated so often that many Canadians have tuned out the conversation altogether. But lately, the country’s housing market has defied reason. Despite years of stagnant wages and a slowing economy, real estate prices continue to soar at a nearly double-digit clip.

Regardless of your views on real estate, the nation’s two-decade-long housing boom has produced some jaw-dropping statistics. Here are 10 incredible numbers from Canada’s real estate bubble.
1. $1,226,300
A shortage of listings and intense demand is driving up prices beyond any bounds of reason. In Calgary, the average detached house sold for $509,392 in November. In Toronto, just a semi-detached home will set you back $750,608.
However, Vancouver’s real estate market really takes the cake. According to the Real Estate Board of Vancouver, the benchmark price for a detached house in the Metro Area increased 22.6% year-over-year in November to $1,226,300.

People Walking Away From Deposits; Real Estate Agent Predicts

In 2016, it won't come as a shock if people will be willing to walk away from the deposit they place on pre-selling apartments, Phil McCarroll of Your Investment Property reports.

Douglas Driscoll of Starr Partners real estate agency is predicting that an addition from the present concerns with this year's off the plan sales will be that buyers will begin to find their prospective purchases as overvalued.

"In 2015, we saw a lot of developments granted planning permission but I think heading into 2016 we will see them feel a bit of pain because some purchased their sites on such narrow margins.  As market levels fall away slightly, some developers might struggle to cover costs," Driscoll said.

"Towards the end of 2016 we might start to see some investors potentially walk away from their deposits because they perceive that they paid too much for it in 2015 and see that it's no longer worth the risk," he said.

According to Driscoll, this tendency is a "knee-jerk" action which he doesn't recommend, but Mark Mendel of iBuyNew off the plan consultancy firm would like to disagree with Driscoll's forecast saying that it is a little off target.

"I think we would only see that if prices in Sydney had a rapid fall. If you look at the history of Sydney property cycles we have a period of strong growth for three or four years and then a period of six or seven years where things slowdown a bit," Mendel said.

"I don't think people are at the point where they're ready to lose their deposits, I mean something like $70,000 or $80,000 is a lot of money. I think people will be more likely to take the rental return and wait until capital growth picks up again," he said.

For Mendel, the walking away is a nonissue, but he recognizes the possibility that some projects may never eventuate.

"I think we'll see a drop in the level of activity. A lot of the developers who bought sites on option aren't going to go through with it and they'll hand the land back.

"We'll see construction drop off, but the bigger boys in areas like Green Square will keep going though."

Celebrity Real Estate: Newlywed Sofia Vergara Rents Out Los Angeles Condominium Unit

Modern Family star and newlywed, Sofia Vergara, is giving real estate career a go starting with renting out her Los Angeles-located condominium unit for $7,200 per month. She takes on the role of a landlord if the unit will have a tenant in the soonest possible time.

The unit is on the ninth floor of the condominium located in Wilshire Boulevard in Los Angeles. The tenant will be expecting white-walled interiors with a 2,071 square-foot unit of living space with three bedrooms and 3 full baths. Moreover, the unit boasts picture windows that is overlooking the magnificent green surroundings, city and the boulevard views.

The best thing about the unit is the huge walk-in shower with an enormous bath tub and very chic marble countertops. Moreover, the big walk-in closet is also to-die for. The dark hardwood floors make the entire unit chic and easy to decorate.

The amenities of the condominium include 24 hour security, valet parking, concierge, exercise room, pool, sauna and many more. According to the listing on Realtor of the condominium, each unit has interior features such as dishwasher, refrigerator, built-in cooking appliances, microwave, range, breakfast counter or bar, pantry and laundry area.

Global regulators target capital charges on "buy-to-let" mortgages

LONDON: Banks would have to set aside more capital to cover "buy-to-let" mortgages and place greater emphasis on a borrower's ability to repay a home loan under draft rules from global banking regulators on Thursday.

The Basel Committee of banking supervisors from the world's main financial centres published revised proposals for banks using the so-called standard approach, rather than in-house models, to determine how much capital they must set aside to cover the risk of a loan turning sour.

This so-called credit risk is the single biggest calculation made by banks as it covers between 60 and 90 percent of the risk-weighted assets on their books.

Thursday's second consultation on credit risk is aimed at simplifying Basel's suite of complex capital rules in order to iron out large differences in how much capital banks from different countries set aside to cover similar risks.

Basel unveiled key changes, such as introducing a clear delineation between types of home loans when it comes to capital charges.

An anonymous short-seller called a company a 'Ponzi-like real-estate scheme' and the stock has crashed 65%

An anonymous short-seller called a company a 'Ponzi-like real-estate scheme' and the stock has crashed 65%

Read Full Story: An anonymous short-seller called a company a 'Ponzi-like real-estate scheme' and the stock has crashed 65%

Residents of posh Paris island rake in cash on Airbnb

PARIS: Homeowners on the Ile Saint-Louis in central Paris, which has some of the city's most expensive real estate, are being kept in style by Airbnb rentals, a survey showed Thursday.
Conducted by a tourism industry association it showed that nearly two thirds -- 63 percent -- of the 214 buildings on the tiny island of film stars, scribes and sheikhs "have at least one Airbnb apartment or similar".

A total of 314 residential units, representing 17 percent of the island's stock, are available for rental on Airbnb or other home-sharing websites, the survey said.

Only about one-third of dwellings on the smaller of two islets in the Seine river, next to the Ile de la Cite where Notre-Dame Cathedral is situated, were inhabited by the owner.

The survey took place as Parisians express growing frustration with the never-ending stream of Airbnb tenants carting luggage up the stairs of their apartment buildings.

Real Estate Investment: When Do You Buy And When Do You Sell?

Sam Zell knows more about real estate investing than anyone else and according to him, it is all about timing. Zell sold his real estate firm Equity Office to Blackstone Group for $39 billion during the peak of the market in February 2007. This was just months before real estate credit markets begin to plummet.

Timing is really important and it pays to know when to buy and when to sell. Zell did this not just once but twice! At the end of October, his Equity Residential real estate fund sold more than 23,000 apartment units to Starwood Capital for $5.4 billion. His company plans to see another 4,700 units sometime soon. Most of the proceeds will be returned to investors next year in the form of dividends, an article from Business Insider revealed.

Zell's technique is to cash out of non-core assets and rather than re-invest, most of the cash is given to investors.

So how does Zell know when to sell?

REITs (real estate investment trusts) are considered to be lucrative sectors after the 2008 credit crisis. REIT prices are up 286 percent from their March 2009 low, compared to 209 percent for the S&P 500 over that same period.

According to Real Capital Analytics data commercial property values reached an all-time high on record in August--up 14.5 percent and even surpassing the previous numbers.

China property firms' debt issuance jumps, more to come

China's real estate companies have sharply increased the amount of funds raised from debt so far this year compared with 2014 as borrowing costs hit historical lows, and they are planning to borrow more.

Property developers have raised 495 billion yuan ($77 billion) from domestic Chinese bonds, almost double 2014 levels, Barclays Capital estimates.

Goldman Sachs suggests property companies have issued more than 400 billion yuan ($62.5 billion) in domestic bonds, over seven times total issuance in 2014. It uses a different set of companies as the basis of its estimate.

"Conditions are great for these developers who should take this opportunity to strengthen their balance sheets and deleverage in a disciplined manner, rather than leverage up," said Dhiraj Bajaj, a fund manager at asset and wealth manager Lombard Odier Singapore.

Chinese invest billions in Dallas-area real estate

Developers who are redoing downtown Dallas’ landmark Statler Hotel have spent time in China courting investors.

“I’ve already made three trips to China,” said Frank Zaccanelli, a partner with Centurion American Development Group. “They are very interested in what’s going on in Dallas.”

Centurion American, which also has suburban home and commercial projects in the works in North Texas, isn’t the only local real estate firm with an appetite for Chinese investment.

Chinese money has funded recent downtown Dallas tower sales.

And capital from China is finding its way into everything from local apartments to single-family homes.

Last year Chinese investors pumped more than $3 billion into U.S. commercial real estate investment, according to data from the commercial property firm JLL.

And they bought more than $28 billion in American residential properties — more than twice what any other foreign buyer acquired, according to the National Association of Realtors.

Asian investors accounted for almost a third of Texas home sales to foreign buyers, behind only Latin Americans, who accounted for more than 40 percent, the Realtors said.

Chinese buyers are hot for Dallas-area apartments, too.

“We’ve closed $550 million in transactions in the last 90 days,” said Chris Colombe, managing director with the apartment broker ARA. “Probably a third of those deals had equity coming from China.”

Chinese investors are the top foreign buyers and funders of U.S. hotel acquisitions this year. And they are one of the top offshore players in the office market, according to data from the Urban Land Institute.

Calgary a buyer's market for at least 6 months, says real estate analyst

Lowell Martens, owner and broker at Re/Max Real Estate Mountain View, says it's a challenging time for the industry right now, especially in higher-end properties.

Lowell Martens, Calgary realtor
Realtor Lowell Martens say sales are down in the high-end real estate sector but remain steady in more affordable homes. (Dave Gilson/CBC)

"When we see some light at the end of the tunnel, we'll be back into this market fairly quickly," Martens said.

"But at the moment we don't see any light."

He says his office has seen sales drop between 20 and 30 per cent "for just about the whole year."

Reasonable demand in some sectors

Martens says more reasonably-priced homes, however, are standing their ground.

"There's a reasonable demand for those and if they show well and are priced reasonably in line with where the market currently is, we find that they sell reasonably well," he said.

House prices in Calgary and Edmonton to drop in 2016: Remax

A Re/Max Western Canada housing market report says sales of existing properties are expected to drop by four per cent in Calgary in 2016, but others say the situation could be much more gloomy.

10 per cent drop possible

Don Campbell, a senior analyst with the Vancouver-based Real Estate Investment Network, says the worst is yet to come in the Calgary market.

"Our numbers are showing that the average sale price should drop … in that 10 per cent range at least," Campbell predicts for the coming year.

He says supply is beginning to show in prices.

"Those that need to sell are starting to move their price and we haven't seen that for a long time in the Calgary market," Campbell noted.

Invest for the long run

Paul Varella, the associate dean at Mount Royal University's Bissett School of Business, says the current volatility could be a reminder of one of the first rules of investing.

"Anybody who invests in real estate has to be in the game for the long run," Varella said.

Tokyo real estate prices plummet as ghost homes on outskirts of city lie abandoned and unsold

It used to have the most expensive real estate in the world but prices in Tokyo have plummeted, with millions of houses unable to be sold.

Chinese middle classes, mainly from Beijing and Shanghai, are coming in for the cheap takings and buying up apartments in central Tokyo.

But on the outskirts of Tokyo, in Yokosuka, houses lie abandoned all over the place.

Some look as if they have been deserted for years and others as if the inhabitants suddenly upped and left.

The Japanese call them ghost homes.

In the 1970s and 1980s people came to Yokosuka to buy affordable real estate and escape the boom time prices of central Tokyo.

Now 14 per cent of homes lie empty and across Japan a staggering eight million are unoccupied.

Subscribe to: Posts (Atom)
Jabong Mailer (CPA)

Popular Posts

Copyright © IRealEstates | Powered by Elinkad