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Article Published: 02/09/2012
Foreclosed US Property Inventory Shrinking
Analysts at CoreLogic claim the inventory of properties in foreclosure in the U.S. is shrinking and that there were fewer foreclosures in 2011 than in the previous year. There were 270,000 fewer foreclosures last year than there were in 2010 and there were 8.4% fewer homes in the foreclosure inventory than the previous year, while the number of people with property being moved into the inventory improved by 7.3%. Experts say this is the first time in the year sales of bank-owned homes has outpaced the rate of completed foreclosures, which is further helping to shrink the inventory. Some of the states with the highest foreclosure rates include Florida, Nevada and New Jersey.
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Article Published: 02/09/2012
Must-Have Business Contracts
In an ideal world everyone in business could be taken at their word and there would be no need for second guessing. The reality, however, is that business contracts are vital to success and ensure that everyone party to a transaction understands the terms and has a reference point for any potential disputes. Six contracts that every business should have include an entity agreement, a service and/or product agreement, a supplier agreement, non-disclosure and non-compete agreements for employees and an internal computer use policy. Some may be more important than others depending on the business, but having contract templates handy in these areas will never hurt. For more on this continue reading the following article from JDSupra.
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Article Published: 02/09/2012
Struggling Irish Housing Market Attracts Prospectors
Ireland’s real estate market woes are tremendous, even in comparison with that of the U.S., with property values dropping as much as 80% in some sectors. Values for all types of properties have fallen at least 55%, and the incredibly low prices are attracting potential investors who would have otherwise never dreamed of trying to enter the market. Experts warn, however, that care must be taken to avoid buying a property that hasn’t hit bottom yet, and to be sure to avoid areas that have been adversely affected by emigration and rising crime. The Irish government is offering several tax incentives to buyers and many foreigners, particularly from Russia and the U.S., are contemplating buys.
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Article Published: 02/09/2012
B Corporations Explained
B Corps are a nickname for a benefit corporation: a business structure reserved for corporations that are for-profit but also make significant environmental contributions in an effort to remain socially responsible. New York recently became the seventh state to recognize B Corps as legitimate legal entities and is expected to draw the interest of startups looking for a home as well as investors seeking more responsible investment opportunities. Although it is relatively easy to set up the structure for a B Corp, there are numerous businesses that help with the process, including Benefitcorp.net, a nonprofit public service website designed for assisting those with an interest in establishing a B Corp. For more on this continue reading the following article from The Street.
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Article Published: 02/09/2012
UK Property Sellers Slashing Prices
Property sellers in the United Kingdom (UK) are facing a very finicky buyer’s market where prospective purchasers are few in number and aware of the favorability in negotiations. Economic uncertainty and restricted lending have priced many people out of the UK real estate market, leaving those who are still in it in a good position in relation to those trying to move property. Glasgow, Blackpool and Maidstone are experiencing significantly lower rates, with price reductions between 8.5% and 9.2% among the three locations. The average decrease across the region stands at 7.5%, according to property research website Zoopla.
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Article Published: 02/09/2012
US Dollar Softens as Greece Rebuilds
Experts are forecasting a continuation of soft performance in the U.S. dollar as talk of a likely deal in Greece empowers the euro. The deal would mean another bailout for the struggling European Union (EU) nation, which would in turn bring a touch of stability to an increasingly uncertain EU market. Even so, most other major currencies are standing neutral, remaining in much narrower trading ranges. Meanwhile, trade surplus numbers are down in several countries, including Japan and Germany, signaling to many analysts that no one is immune from EU fallout.
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Article Published: 02/08/2012
Foreign Real Estate Financing: Ways To Fund Your Dream Home Overseas
Finding financing for that overseas dream home on the water can be a challenge for some people, but there are options that can help investors close the deal. One way to get a discount is to pay in cash, although experts recommend only doing this for properties already built. Another thing to remember is that borrowing in some countries can be difficult because of loan-to-value lending caps and age restrictions. To avoid these complications, prospective overseas homebuyers may want to consider developer financing. It often involves less paperwork, fewer limitation and opportunities to pay lower monthly rates. A final consideration may be to use IRA or 401K funds for the perfect opportunity.
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Article Published: 02/08/2012
Property Taxes: Heed Tax Assessment Notices
The beginning of each new year brings many things, and for property owners one of those things is a Notice of Assessment from a property tax assessor. These are not tax bills and so many people ignore them, but they contain valuable information that every property owner should know. The primary reason notices should be examined is because a property owner may appeal numerous decisions a tax assessor may make regarding the value of the property. Main issues that may be appealed are the valuation of the property, the occupancy rate of a rental property, the classification of the property and possible any possible exemptions overlooked by the assessor.
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Article Published: 02/08/2012
Spotting Cold-Call Investment Scams
Cold calling is still a popular way for securities sellers to attract investors despite advances in communications technology and the implementation of the Do Not Call Registry. That’s why the Securities and Exchange Commission advises investors to be wary of over-the-phone investment scams. Signs that an investment opportunity may be fraudulent include high-pressure sales tactics, a pitch involving “breakthrough technologies,” refusals to send written information and calls from unauthorized or unsupervised salespersons.
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Article Published: 02/08/2012
Lebanese Property Market Facing Decline
Lebanon may have seen soaring property values from 2008 to 2011, experiencing a peak increase of 15.1% in 2010, but a year of growing unrest has taken its toll on those gains. Bank Audi reports values dropped 2.7% in real terms at the close of 2011 due to slowing economic growth and political uncertainty. Sales also dropped at the end of last year, as did demand for construction permits, although the country’s mortgage market has seen considerable expansion. Of all these concerns, however, experts believe Lebanon’s shrinking rental yields may cause the most harm. Moving into 2012, yields were down nearly 10% from those seen just six years ago.
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Article Published: 02/08/2012
Gold Bounces Back After Slip
A weak U.S. dollar is believed to have helped boost gold prices to $1,748.40 an ounce Tuesday after a slide of 2% over the previous two days. Greece’s ability to raise funds at lower yields helped strengthen the euro, which also contributed to the price recovery. Experts find the rebound impressive considering China’s relaxed position on gold bullion and jewelry buying and a forecast that the country’s consumption may slow even more moving through 2012. Silver prices were also up on the news, climbing $0.44 to $34.19 an ounce.
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Article Published: 02/07/2012
Best Real Estate Investment Markets For 2012
HousingPredictor.com has released its Best Investor Markets for 2012 study, which identifies the best investment markets for residential real estate in the U.S., and it appears much of the action will take place in America’s heartland this year. Three of the five best cities for investment in 2012 are located in Kansas due in large part to its growth in the agricultural market: Wichita, Topeka and Kansas City. The remaining two are Charleston, W. Va., and Miami. The website makes its predictions based on 20 different factors including the speed of real estate market growth, economic growth and business development.
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Article Published: 02/07/2012
New York Top Investment Pick for Multifamily Investors
A forecast of low vacancy and higher rents is expected to keep investors flocking to New York City in 2012, according to experts. Records indicate that a whopping 80% of households in the city are priced out of homeownership, with areas like Tribeca, Manhattan and SoHo attracting strong attention from developers and investors that have formed, or will form, REITs to handle the large amounts of capital needed to enter the market. Meanwhile, city families looking to reduce costs will move to outer boroughs like Queens and Brooklyn, which is expected to drive down vacancy in those areas as well.
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Article Published: 02/07/2012
Investing In China's Real Estate Market: A Look At Funding Options
Prior to the global financial crisis and subsequent restructuring and monitoring of banks, most real estate investors in the U.S. and abroad relied on banks for loans to fund development projects. Now, tougher regulations are forcing banks to be choosier and investors have sought to fill the gap with alternative ways to raise capital. Two methods include real estate trusts and real estate private equity funds. These are investment vehicles that involve the collaboration of investors outside of banks with particular legal and tax structures that many people are finding favorable to the growing difficulty of dealing with banks.
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Article Published: 02/07/2012
D.C. Property Tax Code Key to School Improvement
Washington D.C. is one of the fastest growing metropolitan areas in the country, having seen its population increase 16% in the last decade. While this is good news for the economy in a general sense, the strain it is putting on public schools in the District is starting to show. Many families with children are deciding to move to the suburbs, leaving the core a home to singles and empty nesters. Experts believe introducing a $1,000 property tax credit for each child enrolled in a D.C. school would attract more families to the area as well as provided needed income for school improvement.
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Article Published: 02/07/2012
Dominican Republic Peninsula Great for Beach Living
The Samana peninsula in the Dominican Republic is a beautiful region with winding beaches, wonderful weather and quiet little beachside restaurants that serve cold drinks and delicious food. Las Terrenas is particularly attractive for anyone looking for the perfect place to buy a beach home. Located just under two hours from the capital of San Domingo, properties in the town are just minutes away from the beach sell for very reasonable prices. Condos can be found for as little as $80,000, while a new luxury townhouse can be had for $165,000. Expats who choose to buy will also find they’ve got an attractive rental property on their hands, and can defray costs by renting it when it’s not in use.
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Article Published: 02/07/2012
US States to Enter Foreclosure Settlement
A recent announcement regarding a possible settlement between banks and U.S. states over unscrupulous foreclosure practices may amount to less than the final word when it comes to future litigation, according to experts. New York Attorney General Eric Schneiderman has since sued Bank of America, JPMorgan Chase and Wells Fargo over their use of the Mortgage Electronic Registration System, which is blamed for being the source of many foreclosure practice problems. This move combined with the fact that some states may not reach full agreement, and that any agreement will not guarantee a bar to future litigation, has both banks and investors concerned about the outcome.
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Article Published: 02/07/2012
Costa Rica’s Best Beaches
Locals, tourists and expat residents agree that there are a lot of things to love about Costa Rica, but for many nothing else compares to the Central American country’s beautiful beaches. The country has a great deal of coastline considering its size, and many beaches offer a different feel depending on which stretch a beachgoer decides to visit. Examples that demonstrate the range of possibilities are the beach towns of Quepos and Jaco, which both attract young partiers with themed restaurants and chain hotels, and Dominical, which is a sleepy beach town with a more laid-back feel. For those looking for a little of both, Quepos and Jaco are only a 45-minute drive from Dominical thanks to a recently paved road.
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Article Published: 02/06/2012
Investor Deal for Foreclosed Homes Fuels Debate
The Federal Finance Housing Agency, which oversees the government conservatorship of lending giants Fannie Mae and Freddie Mac, has announced a program wherein it will package and sell foreclosed homes at a discount to investors who agree to convert the properties into rentals for a set term of years. Agency officials say the plan will help decrease the number of foreclosed homes, which is growing and is expected to grow more before a recovery takes place. Many critics argue, however, that investors are already getting valuable deals on foreclosures and that the plan will not serve those truly in need of help.
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Article Published: 02/06/2012
Mitt Romney Takes Nevada, Housing Market Issue Sidestepped
Republican presidential candidate and front-runner Mitt Romney has won the Nevada caucus, but critics were quick to note his strategy of sidestepping the state’s dire housing market situation. Nevada leads the U.S. in foreclosures and in Las Vegas 70% of current borrowers are underwater on their mortgages. Some speculate that Romney’s silence was part of a predetermined course that was set with comments he made last year suggesting he believed the best answer was for government to stand aside and let the mass of foreclosures take place. Pundits argue he may have to adjust this philosophy if he hopes to beat President Barack Obama, who supports continued intervention for homeowners.
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