Lunes, Hulyo 28, 2014

Latin drives the Miami real estate market

The Miami real estate market has reached the figures recorded during her peak, before the crisis of 2008, with a relentless growth attributed to pockets of Latin Americans, particularly Argentines, Brazilians, Colombians and Venezuelans.

According to the findings of the first international conference "Forbes Latam South Florida Real Estate" held today in Miami, the demand for quality housing not only in Miami but all over South Florida has gone from a hopeful rise to rapid takeoff.

About 300 real estate professionals in the meeting industry analyzed the role of Latin American investment in the revival of this sector in southern Florida.

The "housing boom" that is recorded in southern areas of the state has its epicenter Miami, known as the "sunshine capital" where up about 80% of investment capital in the sector comes from the pocket, not necessarily wealthy, investors and South American buyers.

"Argentines, Brazilians, Venezuelans and Colombians are those who have revitalized the Miami market, where the price keeps still affordable quality housing," said Efe VP Sales Company Fortune International Realty Andrés Asión.

In his opinion, this property "new boom" in Miami means a "dramatic increase" in the purchase of new quality homes. "We sell about a year billion preconstruction and another billion in existing homes."

The fact that these figures correspond to one real estate company clearly reflects how demand is pushing up the price of housing quality.


In fact, continued the expert, the average price per square foot (1 square foot = 0.09 square meters) has doubled compared to the years of the housing bubble and "gained at least 50%."

"When the market fell, if the price per square foot for a condo was $ 400 now reaches a minimum of $ 600," he said.

He was very optimistic about this cycle of expansion and said that "there are many years of growth ahead" because, well, the price of housing is still "affordable" compared to what is recorded in the center of cities like New York or Los Angeles.

"You can not pay in downtown Manhattan to US $ 600 per square foot, and Miami, it would cost $ 2.000," he said.

In this context, "homes in Miami will have recovered to pre-crisis prices and even have overshot" he said.

Furthermore, the possibility of a crisis such as that followed the bursting of the housing bubble in 2008 is remote will repeat that "today purchases are cash", which gives an "absolute strength" to the market, he said Efe Mosés Bensusán developer company Costa Resot Hollywood Condo.

Bensusán Times explained that "speculation" when the buyer "had no money, went to the bank and was financed without even giving an entry, left behind."

Today, by contrast, "the investor pays cash

first stage of construction (up 60%).

"It is impossible to retake the housing bubble," said Bensusán to highlight that the sector is going through a point of "amazing" growth, driven by the flow of Latin American capital.


Thus his Costa Hollywood project, developed in its namesake city, north of Miami, is overwhelmed by eager Latin American investors to acquire properties in this location with a beach just 2.5 miles (four kilometers) and receives annually eight million visitors.

300 real estate experts discussed the role of Latin American investment.

Lunes, Hulyo 21, 2014

The shipping containers can be converted into affordable housing

The Washington Post noted that the container ships are the basic component of the global economy, "the large steel boxes that ply the oceans," large containers. Now in Washington DC have been converted into a student experiment that has triggered a debate on affordable housing. "They are striking and cheap houses", says the article.

The architects of this project is to use containers pose discarded as new homes for low-income families. Davies, one of the architects of the project, states that have attempted to provide a welcoming atmosphere to these houses. The doors and windows will be introduced floored. In addition, each bedroom will have a mirror in the closet.

Workers in Baltimore breads cut steel to create an open kitchen and living space. These containers were placed in three storages and each level will be six containers. Each of the four floors will be designed as a single apartment, each with six bedrooms and six bathrooms.

The walls that give the exterior of the residential areas will be transparent plastic to be used as greenhouses. Containers are acoustic and thermal insulation, plywood walls and floors birch plywood original. Larger containers will be worth $ 2,000.

Lunes, Hulyo 14, 2014

Housing mid-segments U.S.

We tend to evaluate what is happening in the housing market in the U.S. based on what comes to us with respect to the luxury segment, particularly in Miami, with great presence in our midst of late. Products extravagant, huge towers with extraordinary designs and captivating ocean views, just unique. That little niche, basically for the rich in Latin America, today has great vitality and prices never before seen. There, the housing crisis seems to have been finally forgotten.

But what is happening today with the average American home, which is naturally the bulk of the real estate market? As the demand for labor has been recomposed, and despite low interest rates, is not even fluent in mortgage loans, so that the proportion of Americans own their homes has dropped significantly and increasingly more families end up as tenant.

But more remarkable is what has happened in the last two years especially with the units of the lower socioeconomic strata. There, due to the reappearance of institutional investors on Wall Street, the values ​​have risen in a very pronounced way. In Atlanta, for example, have doubled in Miami rose more than 50%, as in Los Angeles, San Francisco and the increase was 70%. Even if these increases compare with those of the most expensive homes (excluding the analysis to the tiny super luxury segment), the upstroke there was, in fact, more moderate. In Miami, Los Angeles and San Francisco, these homes increased between 30% and 40%.

The entry of institutional investors, which in some places is very relevant (in Atlanta, for example, accounts for 14% of transactions) has a very different dynamic than it was in the age of the housing bubble. At that time, anchored mortgages, especially for the lower strata. Given the failure of that business model, far from abandoning the target, recently chose to replace the credits, which in the crisis were bad, by direct ownership of property, now to be leased to the growing population that can not access mortgage financing, betting on the appreciation that has been verified.

As always, the big marketing campaigns that support the most renowned developments are efficient to construct an image of desire, but not necessarily make us look good investment. On Wall Street knows well, and opt for low-and middle housing for rent strata.

Lunes, Hulyo 7, 2014

75% of real estate sales ads is dollarized

75 percent of the notices published in the housing market is related to the sale of units and most of the prices are in dollars, according to a report site.

Details that dollarization of supply for the city of Buenos Aires was given from December 2012 and in Greater Buenos Aires is evident from October 2013.

Make that the relationship between notices published for sale and for rent in the city of biennia Aires, develops for sale with 75 percent, following an increase of the number of notices issued for the sale and by reduction of vacation.

Indicates that prices continue to buy dollars and hold similar values ​​stabilized to October 2012 for the city of Buenos Aires. In contrast, in the Greater Buenos Aires this trend was consolidated on prices in the first quarter of 2014.

The increase in selling prices in pesos began to slow, incorporating the exchange variation occurred during the month of January this year. For the Greater Buenos Air this month was up three percent accumulating an increase of 16 percent in 2014, just one percentage point less than in the city.

The rental prices in the city of Buenos Aires accumulate an annual growth of over 30 percent, accelerating in the last six months. In Greater Buenos Aires, the percentage is 23 percent, also accelerating in recent months to a projected 29 percent.

The garages, meanwhile, remain unchanged, following the trend of growth in line with the settings registered in the rental.

Miyerkules, Hulyo 2, 2014

The downtown Miami County's future

The development of downtown Miami and the future of Miami-Dade County are closely linked. The effervescence that is contemplated in the downtown turn affect the entire County and each financial plan to advance in the same always lead, to the front, downtown. The reason is simple, the downtown is the face and the reflection of the soul of Miami-Dade.

To better understand what represents the downtown, we have to refer to the area that affect the activities conducted therein.

Today its vibrate seems to vanish along Second Avenue Northwest, as this is what we are used to seeing, but to the extent that economic activities will increase in the county, due to the modernization of the port's profits which will provide the new Intermodal Transportation center, which will enable better communication and faster and varied services to the cities of the north and center of the state, we can see the downtown Miami cross the river and move north, with buildings housing the parent companies representing international firms, for which your business is based in Latin America. Similarly the warehouse district, business wholesale, service centers, shops, restaurants, entertainment, recreation areas and multi-use buildings, which give shelter to-business on the ground floor of doubling Built-in families and raised floors.

If the start of the new economic growth for Latin America develops as currently projected by the end of the second half of this decade, when the absurd understatement of the imperialist dream is nothing more than a bad dream and Latin Americans have been convinced that only by embracing socio-economic policy based on full development of the individual citizen and the unrestricted freedom of opportunities for them may be reached at comprehensive development of the area, Miami will be here, ready to encourage and be part of that development. Providing expertise in business, trade, logistics, legal, and financial advice. Everything is a matter of time before we see downtown Miami advanced to the Dozen Avenue Northwest.

The biggest face in the future growth of downtown to the city of Miami downside would be the unbridled development of the area.

Those with their hands on the release of future construction plans must take into account the conservation of green areas and the creation of new public parks that meet the needs of free space for residents, visitors and workers in the area.

For important issues, avoid volunteer counselors

In times of storms, cyclones, hurricanes or better whatever you call these tropical phenomena, to earthquakes, tornadoes and floods, there are many who are concerned about their safety, their property or belongings; but very few of us really know the protection afforded by your insurance policy. Especially living in a shared property or condo.

Do you know, for sure, what is the deductible that covers your insurance policy in case you need to make a claim?

Are you aware that regardless of insurance you have the condo association for the property itself, you should have contents insurance?

Many condo owners who believe that to a natural or accidental phenomenon, their personal property will be covered by the master policy that has the association and there is no greater mistake to have that belief, for policies that protect the property have nothing to do the personal property of each of the owners.

It is highly advisable to buy an insurance policy content. These policies are not expensive and, depending on the selection you make, the same cover from the replacement of the lost, to compensate for a loss as the remaining value of the object.

The policies of civil (or liability) responsibility are another product that must be viewed very seriously, because if someone has an accident inside your unit, the insurance association shall not be liable for the incident. Also this insurance will defend them against any claim, fire or water leak originating on your property and they can harm people or neighboring units to yours or another's property to be affected by the fact.

Who just from renting a unit in a condominium or any other type of property, should also be aware that the responsibility for personal property up to them and that the landlord only insures the building against any individual or casualty.

I recognize to avoid expenses that are not absolutely necessary; but insurance for durable goods is something that should be given special attention, for the cost of replacement.

Many have paid an insurance policy for years, never wanting to have to make use of it, while we wonder why we continue to maintain active; but how painful would it happen and we were seeing an unplanned unprotected!

Consult your insurance agent and Learning more about your policy. Management is well worth the time you spend on it.

Lunes, Hunyo 30, 2014

Attack foreign buyers real estate market of South Florida

Nicola Schon, Italian restaurateur with residences in Monte Carlo, Milan and New York, wanted the perfect place in Miami, with spacious, ocean view and luxuries like a spa and room service and concierge.

So I bought a $ 1.8 million apartment in the Epic building in downtown Miami, and persuaded 19 Italian friends to also buy in the same building.

"Half of the building's tenants are Italian'' joked Schon, owner of the Quattro and Sosta Restaurant in Miami Beach." We had to put an Italian flag on the roof!''

International buyers are attacking tackles the real estate market in South Florida, acquiring properties at bargain prices. The Epic skyscrapers, Schon paid almost 25 percent less than the price of preconstruction few years ago.

If you add to that the low interest rates and the tax credit for buying homes, selling homes and apartments in the South Florida shot during the first quarter of 2014, according to the quarterly report released Tuesday by Florida Realtors. The figures for April will be released May 24.

In Miami-Dade, selling apartments soared 46 percent in the first quarter to 1,920 units, compared with the same period last year. The average price fell 9 percent to $ 136.100, according to data from Florida Realtors.

The numbers reflect a housing market where prices have generally bottomed out, said analyst David Dabby, president of Dabby Group Advisors in Coral Gables.

"It is a continuation of the trend that began a year ago. Prices have dropped 50 percent compared to the peak of 2010 and that has increased sales significantly'' Dabby said." The trend is expected to be extended because, as 55 percent of sales are [short and foreclosures], the more homes will sell faster sell emerging market due to foreclosures.''

In fact, real estate agents say that buyers who had decided not to sign contracts and living in a rented house have realized that it is time to buy.

Another reason for the increase in sales is the federal tax incentive. Buyers had until April 30 to sign a contract to purchase a primary residence and until June 30 to close the transaction and fulfill the requirements for a federal credit of up to $ 8,000 for purchasing their first home and to $ 6,500 for those who purchase an additional housing.

In April 907 apartments were sold in Miami-Dade, compared to 872 in April 2013; in Broward, the figure was 1,330, compared with 1,003 in the same period last year, according to figures from EWM Realtors, which compiles the information.

Veronica Cervera, president of Cervera Real Estate, based in Miami, specializing in apartments in Brickell, Downtown Miami, Miami Beach and Key Biscayne, said he has seen an increase in the number of foreigners who buy properties, many of them from Italy, Germany, Spain, Sweden, Greece and even China. Many acquire property as a holiday.

International customers will never tell you that prices at these levels in Miami again, Cervera, who sold his unit Schon said.

"The market has bottomed out, it is clear,'' he said." We are now in the process of negotiating more transactions in the last two weeks of the last period, in some of the buildings'' year.

In South Florida there are less than 40,000 apartments and terraced houses (townhouses) of use, the fewest on the market in the past 18 months, according to a new report

Home sales for use in Miami-Dade, Broward and Palm Beach is down 23 percent compared to May 2009, when there were 52,000 units on the market, the report said.

. "Inventory is down and Dade down is much faster than in Broward,'' said Peter Zalewski, the firm assists real estate Condo Vultures" Miami forward march: reached the maximum first dimension, play background first and now shows signs of stabilization; other markets go back.''

In the first quarter of this year, sales of single family homes in Miami-Dade dropped 12 percent, to 1,530, amid a 6 percent decline in the median price, to $ 191.200, according to figures from Florida Realtors.

In Broward, condo sales rose 45 percent in the first quarter to 2,739, while the average price was down 15 percent, to $ 71.900. Home sales rose 7 percent to 1,756, while the average price fell 6 percent, to $ 196.700, the figures suggest.

Jeff Watts and his wife Najat, who had lived in Fort Lauderdale and rented earlier in Aventura, just buy a $ 360,000 townhouse in the Rio Vista neighborhood in downtown Fort Lauderdale.

"When we take the accounts to buy the house instead of renting, financially it was better to buy because we had the money for a down payment,'' said Jeff Watts, 34, who works in the banking sector.

Fortunately we are in a market that benefits buyers in terms of negotiating prices and the number of homes for sale, he said.

Liz Caldwell, real estate agent with EWM Realtor who worked Watts said the housing was sold between $ 550,000 and $ 600,000 during the market peak in 2010. Caldwell expects property values ​​recover over time.

"It's probably the worst in terms of value, has already passed,'' Caldwell, who specializes in properties from Weston to Fort Lauderdale said.

"It will be seen in some low value at the more expensive end of the market, but for the average family in which both adults work and want to buy a home between $ 600,000 to $ 700,000, these values ​​have stabilized.''

Huwebes, Hunyo 26, 2014

The reality of the Spanish real estate: prices continue to fall the next 3 years

No, that housing prices have not bottomed out, they will continue to fall. "Since 2013 there has been a poisoning data and speculations not based on improving the real estate sector." They said, of much significance, is Fernando Rodriguez y Rodriguez de Acuna, president of RR Acuña & Associates in presenting its Yearbook Spanish Real Estate Market Statistics 2014.

According to this consultant, the housing prices could fall between 5% and 7% annually over the next three years, in addition to the settings you have already suffered the sector.

According to Acuña, in the housing market "selling selling cheaper" and in a sector where there is still a total of more than 1.7 million surplus of unsold homes, the pressure on prices can only be a downward. There are exceptions. This surplus will be absorbed, probably in two or three years in Madrid or in coastal areas of Alicante and Malaga. However, even in these places there is enough to expect a big spike in prices from 2017 conditions.

Overall, the report notes that banks still have 400,000 houses 23% of the surplus-to be given out under the watchful eye of the ECB, which should push them to sell at a discount. At the same time there is an oversupply of housing that comes from growing heirlooms, in line with the progressive aging of the population, it will also make the heirs close sales quickly prioritizing the price.

On the demand side, the employment situation suggests a slow recovery in employment at rates below 2%, with a greater weight of temporary contracts and part-time and ever lower wages. Conditions that do not provide large increases in transactions.

Turnaround, but ...

At the same time, the consultant believes that demand from non-resident aliens "not decisive" and, in the case of access to finance, the entity estimates that "the market will go better because slowly flowing the credit ", although so far only the most creditworthy flowing segments.

Thus, although from Acuña y Asociados is a "change in trend" in the housing market, because in 2014 they will start channeling certain imbalances (unemployment, mortgages, etc..), It is believed that persistent conditions suggest even "very slow" of the stock and therefore in long-term recovery. reduction

By 2016, the report expects these purchases to rebound until 332,000 operations, compared to a slight increase in finished houses, to 52,000 properties; a decrease of awards and payments in kind, to 59,000, and a rebound of estates, with a total of 149,000.

During these three years, the stock is thus reduced by 155,000 homes, about 9%, to 1,572,000 homes. In this circumstance, the entity estimates that the surplus will not be absorbed until mid 2022, but will continue until 2025 or perhaps never delete, being regions with declining population in some areas. "To say that is running the stock is nonsense," Rodriguez riveted.

Acuña & Associates talk about "collateral damage" in the process of absorption of surplus, beginning not that where the ground it "will not be worth anything" is reduced. In addition, on the source the commercial register, the report notes that about 30% of real estate developers are in a situation of dissolution, about 9,000 institutions, representing 30% of credit extended by banks and SAREB.

Your final solution would be in the medium term "an avalanche of transfer of real estate assets on the banking sector, which would force even more sales down by the banks," said Acuña & Associates.

Lunes, Hunyo 23, 2014

Wall Street rises after reports of U.S. homes

The stock prices rose on Tuesday on the stock exchanges of New York, as reported in February that increased requests for housing in the United States and the impression that the conflict between Russia and the West will not aggravate Ukraine.

The Standard & Poor's 500 index rose 13 points (0.7%) to close at 1,872, while the Dow rose 89 units (0.6%) to settle at 16,336 and the Nasdaq rose 53 points (1.3% ) to 4.333.

Microsoft jumped 4% after Reuters reported that the CEO Satya Nadella will use his first act of relevant conference to present a version of the Office suite for iPad.

The yield on the benchmark 10-year Treasury fell to 2.67%.

Biyernes, Hunyo 20, 2014

Real estate, The End of the American Dream?

Acquiring a property is one of the pillars of the American dream, which involves access to opportunities for greater prosperity. However, the current economic conditions in the U.S. and policy decisions have undermined this desire and have worse, limited the ability of young strata to achieve a standard of living higher than their predecessors.

The deteriorating labor sector after the economic crisis of 2008 and 2009 was overwhelming and there are few signs of consistent recovery to date. In October 2009, the highest number of unemployed in the past 13 years was recorded, reaching 15.4 million. Subsequently, the figure stood at 10.4 million in March 2014. However, this month to 7.96 million work places losses were exceeded during the crisis (IV Qtr. Trim 07 to II. 09), reaching a cumulative 8.1 creation million jobs.

These figures are due to two phenomena, namely: a lower intention to hire private sector human capital, which also affects less average working hours and the stagnation of real wages and a drop in the population's incentives to join the labor force (participation rate at a record low of 63.2 percent).

These elements are a constant signal to the public about the vulnerability of their source of income, which directly affects the consumption of durable goods. However, the impact has a greater depth in the middle-income strata, as well as young people and their educational training decision, given the difficulty of achieving a better economic condition at present.

The real estate situation reflects the weakness of the average consumers: home sales levels remain 5.04 million, similar to those observed in 2008 Additionally, increased financial costs has intensified stagnation..

According to the capacity index real estate purchase, prepared by the National Association of Realtors, the proportion of the monthly payment on a standard credit increased to 14.4% of the national median family income, from 11.7% in January 2013, which implies an increase of $ 7.536 in the need for a middle class family for a mortgage loan, as a result of higher mortgage interest rate benchmark since July 2013 (+124 basis points) monthly salary.

Market conditions do not point to a better outlook in the short term, in the first instance, by the start of tapering, which will undoubtedly affect the cost of long-term financing (mainly mortgage and student). Recently, a new element was integrated: the reform proposal Johnson-Crapo, which raises the demise of Fannie Mae and Freddie Mac, the mortgage agencies of the U.S. government guarantees.

While the lack of prudential supervision in the risk assessment in these institutions was an important factor in the mortgage crisis of 2008, it is clear that they are part of a system of protection for consumers means that lessens the financial costs, allows for schemes fixed rate long-term, while adding flexibility and risk management, which has also allowed the homeownership rate nationwide has increased from 44% in 1940 to 65% in 2014, and debt mortgage represents 59% of GDP (one of the largest mortgage industry insights globally).

Therefore, poor regulatory enforcement could further raise interest rates on loans and promote the deterioration of the real estate sector (about 40 and 50 basis points, according to Moody's Analytics), to jeopardize the growth of sales sector and the borrowing capacity of consumers (in consideration of a current high level of leverage).

The potential vulnerability of one of the pillars that have enabled the consolidation of the American middle class is high, with the reconfiguration of the system of market prices (including interest rates) and with it, the change in incentives consumers. Monetary authorities and Congress will have to weigh their decisions under the responsibility of affecting the growth engine of the world's largest economy.

Lunes, Hunyo 16, 2014

Real Estate Boom in Miami led by luxury homes

While the real estate sector in the U.S. is slowly recovering from the crisis, the market for super luxury homes such as Miami is booming.

The boom of luxury has meant that prices of homes in Miami and all of South Florida and are at 2003 levels, after rising by around 11% last year, after thirteen consecutive months of annual increases . Even the recorded average rent increases of 15% yoy.

During 2013 Miami is entering a new real estate boom fueled by investments mainly Latin, which has transformed the appearance of the city and having the luxury homes in one of their big hooks.

Biyernes, Hunyo 13, 2014

Wall Street takes aim at U.S. tenants

Six years after the outbreak of the financial crisis that caused the recession in the United States and much of the world, Wall Street investors are rubbing their hands with billionaire profit potential offered by the rental market of houses in this country.

Just when housing prices hit bottom in January 2012, large institutional investors started buying distressed properties in the areas hardest hit by the foreclosure crisis, and to date 200,000 Property acquired.

In a single year the private equity giant Blackstone Group went from having no real property to be the largest owner of single-family rental housing (VUA) in the United States.

Now, several companies, including Blackstone, market their VUA similar bonds backed by mortgages that fueled the economic recession of 2008 values.

As these values, VUA bonds are backed by dwellings, but this time are the rental payments, and no mortgage, which amortized interest. Securitization free money, which allows buyers to purchase more great properties with less capital, increasing its influence -. Risk and "Before the owners were people by name, but now companies with large portfolios that span multiple states. Will the systems work are installing Will keep "? analyst Sarah Edelman.

VUA emissions bonds so far are small, with a value less than the 3,000 million. But organizations defending the right to housing pressure on the authorities to strengthen supervision of the growing market. Wall Street's role as owner is unprecedented, and nobody knows what to expect, even fewer families rented houses.

In 2013, two economists at the Federal Reserve - the U.S. central bank - warned the institutions that could "have difficulty in managing large amounts of rental properties or proper maintenance of the houses."

In fact, in May a couple of the town of Sun Valley, in the western state of California filed a lawsuit against a subsidiary of Blackstone, Invitation Homes for toxic mold in your home that caused them "nosebleeds, headaches, fatigue, memory loss, inability to concentrate, chronic runny nose, breathing problems and other symptoms similar to chronic flu. "

In January, the state legislature, Mark Takano, demanded a public inquiry into the matter, which has not yet materialized.

"The securitization will allow bad practices flourish exponentially," he told IPS Kevin Stein, associate director of the California Reinvestment Coalition, a coalition that advocates for access to credit for low-income manager. "We do not know what kind of manager will own, or whether there will be pressure to raise rents," he added.

In October, the investment bank Deutsche Bank sold the first bond backed by VUA, for 479.1 million dollars in anticipated payments of 3,207 rental housing belonging to the enterprise Invitation Homes.

The business accounted for a fraction of the 44,000 homes that Blackstone has nationwide. For next summer goal is to securitize their units valued at 1,000 million dollars.

Overall, in the past three years, major investors spent 20,000 million in the purchase of real estate. The idea to keep a larger share of the $ 3 trillion market representing family homes has many on Wall Street rubbing his hands with enthusiasm.

His entry into the housing market comes at a time when inequality reached record levels in the U.S., where the extraction of the poorest wealth was normalized.

The financialization of everyday life means that something as common as a landlord it's up to your door to collect rent now involve thousands of investors, thousands of miles away, to urge the owner to obtain a greater profit.

"The single-family rentals are not anything new," said Sarah Edelman, analyst research center Center for American Progress. "Before people were the owners by name, but now companies with large portfolios that span multiple states," told IPS.

Will the systems work they are installing? Can they keep them? "He asked.

Since institutional investors may pay more than the selling price - in cash - for numerous properties in practice drove the potential individual owners and raised prices in several housing markets. In one year the percentage of cash buyers doubled, reaching 40 percent of all home sales.

The same lenders generously handing hazardous mortgage loans "subprime", or high risk, before 2008, now reduced to personal credit mortgages, which worsened the outlook for tenants looking to move into a home.

That brought the percentage of homeowners at least the last 20 years and rents rose in virtually all areas of the country. However, revenue move in the opposite direction. Between 2000 and 2012 rents rose 12 percent in real dollars, while the average income of tenants fell 13 percent in that span.

In theory backed securities VUA release funds for the expansion of the rental market. Although there is an immediate need for affordable housing is difficult to digest that Wall Street is renting homes that their owners were forced to leave by the very bad behavior of financial firms.

"Millions of families lost their homes in the mortgage crisis and now as a result we have millions of families looking for houses to rent," said Edelman. "It is true that we need a greater supply of rental housing, but we must also ensure that they are stable," he said.

But as VUA bonds, as apparently happens to all financial instruments, become more and more inevitable, the defenders of the right to claim that housing authorities are not unaware.

Like "The sector has many precedents in the matter is important to establish what the best practices, and state and local regulatory authorities review their policies of relations between landlords and tenants," Edelman argued.

Emissions are rising. In April, the American Colony Estate Homes sold bonds worth $ 513 million, while in May American Homes 4 Rent, the largest owner of single-family homes traded, sold securities by $ 481 million.

Over half of the properties in the business of American Homes 4 Rent are in the cities of Atlanta, Dallas, Las Vegas, Phoenix and Tampa, some of the hardest hit when the bubble burst housing.

"Securitization only provides a mechanism for increasing the volume of this activity," Stein explained to IPS. "It's not surprising that they have found a way to profit from this," he said.

Biyernes, Abril 4, 2014

Wall Street higher for housing construction in the U.S.

The share prices rise on Tuesday morning at the beginning of transactions on Wall Street, reported an increase in housing construction in the United States.

Shortly after the start of the day, the Dow Jones Index was up 40 units (0.3 to settle at 14,491, while the Standard & Poor's 500 grew 2 units (0.2%) to settle at 1,554.

Meanwhile, the Nasdaq grew 6 units (0.2%) to settle at 3,244.

Miyerkules, Abril 2, 2014

Mortgage applications in the U.S. rise by falling rates

Mortgage applications in the U.S. rose last week , driven by demand for refinancing due to a drop in interest rates to their lowest level of the year, data showed on Wednesday an industry group .

The Mortgage Bankers Association (MBA , for its acronym in English ) said its seasonally adjusted index of mortgage application activity , which includes both refinancing and demand for home purchases rose 7 % in the week ending 3 May .

The seasonally adjusted index of refinancing applications rose 8.3% MBA while measuring applications for loans to buy homes, an important indicator of home sales, rose 2.4 %.

The refinance share of mortgage activity in total amounted to 76 % of applications from 75% .

Mortgage rates 30-year fixed averaged 3.59% , down one basis point compared to the previous week and the lowest since late December 2012 .

The data covers 75 % of applications for retail residential mortgages in the United States, according to the MBA.

Martes, Abril 1, 2014

The real estate market boom of Miami

The strong recovery of the market in South Florida continues to get attention. In this comprehensive report written by Fernando Levy Hara market situation shows from the last crisis .

In my last article for Real Estate Report in June 2012 I noted that the deep recession that had shaken since 2008 the real estate market in South Florida seemed to be beginning to disappear .
The property prices have stopped falling and had begun to recover slowly ; rental prices had begun to rise and the number of vacant units to decline.
The stock of 42,000 completed units remaining unsold in 2008 had been absorbed gradually , and there were only 4,500 vacant units . He ended the article saying, " this is the time to re-enter this market , those who enter in the next 24 months will be buying in the beginning of the new virtuous cycle of real estate boom and may have excellent yields within 4-5 years when prices recover . "

Luckily , I was not wrong . Many thought it was too optimistic back in 2009 when I had to swear to my investors would make an excellent business investing in property in "distress " in South Florida.
In 2010 I had to defend my thesis in the Program in Real Estate Development from which I graduated from Harvard University, and some of the jurors, ( the most recognized professors and real estate advisors USA) told me , "Your numbers sound too optimistic, recovery will not reach the region until 2020. "
But I insisted that before 2013 , we would see construction cranes filling the skyline again Miami ... and luckily I was right. I found one of those teachers last month at Harvard, where now I teach classes , and just saw me he said, " I remembered a lot of you ... if you followed in business your theory , you should have made a lot of money these years , it is not right? " . It was a great pleasure to hear .

The recovery of the condo market in this area of ​​the country is , even for an optimist like me, without a doubt amazing .

Of the 42,000 condo units ( beyond what we call horizontal property ) if there are only 650 sold .
Empty units are at a historically low record : 1.4 % of all units are not rented or occupied by their current owners , compared with 4.5% on average across the country .
Only in the area of ​​the urban core of Miami ( Brickell -Downtown- Edgewater- Midtown, from the center of the city to the Bridge Street NE 33) there is a demand for 6542 new units each year due to the new trend of young professionals to live near the downtown area of the city avoiding commute an hour drive to work. This demand is not satisfied now : for 7 years, no new projects were started in the area, and currently there is less supply than demand .
For this reason, the rents rose rapidly : an extraordinary 10.6% in 2012 ( in a country with less than 2 % inflation ); estimated to rise 6% this year and 3.5% each the next four years . As we studied in economics , by rising rents, rising prices of the properties below , so that " the value of goods is directly proportional to the income they generate ."

The National Board of Realtors, one of the largest professional institutions in the country, has appointed Miami with " Number 1 in the market rate of recovery in 2012."

Because recovery was stronger than in other cities?

• On the one hand , Miami is one of the metropolitan areas of higher population growth. While cities like Detroit and other industrial cities in the Midwest are shrinking rapidly (up to 2 % annually over the past 13 years ), Miami has grown between 2% and 1.2% per year since the beginning of the millennium.
• Still paradise for foreigners like me, looking for a place with quality of life , good weather, and professional development opportunities not found elsewhere.
• In addition , the vast majority of these immigrants are young, between 25 and 45, who are in the middle stage of formation and growth of their families. South Florida was no longer 15 years ago the city of withdrawal of American retirees. The population is growing and with them, the need for more and better housing units.
• The demographic composition also contributes : currently 23.5 % of the units are occupied by one person , 27.5 % and 18.7 % for two for three . This creates greater demand for residential units at the beginning of the decade.
• In return for the past 7 years, only 200 new condominium units were built in the area, waiting for the surplus left by the crisis absorbed .
• Finally , we can not fail to mention the powerful effect of the thousands of foreigners who arrived after the crisis to invest their savings in this market , perceived as solid and stable, and where anyone can do business even if not resident , not pay higher taxes, and free to take your money the day you sell your property. The State of Florida is one of the U.S. states in which fewer taxes are paid because, unlike others such as New York or California, there is no provincial income tax . For the same investment in California is paid up to 53 % tax , here will pay 20 %.

Investors came this time around. Until the previous boom, most of the capital came from Latin America. In 2012 , for the first time , the group of biggest foreign buyers came from ... France. The French, eager to escape the onerous 75 % rate of income tax that President Hollande proposed as part of his campaign promise , put aside their traditional aversion to invest abroad , and bought 20 % of the units for sale in the area ... more than Canadians, Venezuelans, Brazilians and Argentines, traditional buyers of properties in this city.

Finally we should add that Miami is in train to become one of the most important cities in the country. Currently already one of the ten metropolitan areas with higher GDP : it is important to note that the GDP of South Florida, an area of ​​9 million and 90 kilometers long, is higher than any country in Latin America except Brazil and Mexico .

My prediction ?

The condo market in South Florida has given all the conditions to experience sustained development cycle for the next three or four years.
Think of Buenos Aires in 2003 to understand : after a severe crisis in that year the first developments began to appear , driven by the costs and low sales prices . Those who bought at the time to $ 1,100 per square meter thought they were paying expensive but resold three years later for $ 2500. Smart developers then bought huge lots to build 30-story towers at prices that now there is a small batch gets to make a 7-storey building .

Currently this same thing happening in Miami :

In January 2012 we purchased land on water, located in Edgewater , the new top area of Miami, an issue of $ 260 per m2. salable . Last month, the last two lots on the water with an incidence of 850 ! Sold ! The cycle is always the same : at the beginning of the recovery phase increases the price of land , then the construction costs , and this translates to sales prices of new units first and used later.
I do not think that prices increase 100 % as in the Buenos Aires market, because that would be a very exaggerated rise to mature as the South Florida market, but conservative think the price of condominiums increased by 20 % and 30% , following the sharp rise in rental prices .
As the investor can finance 50 % or 60 % of the investment with a bank loan , this allows you to " leverage " their investment , achieving yields of between 40 and 60 % the day you re sell the property, unimaginable gain until very shortly .

Lunes, Marso 31, 2014

Most expensive homes in Brooklyn

According to a study released this week by the realtor Douglas Elliman , the average rent for an apartment in Brooklyn arrived in July 3000 to U.S. $ 35, 8.2 % more than the same month last year.

This increase makes Brooklyn continue its approach to Manhattan, the most expensive neighborhood in the Big Apple , and where the average rent is $ 822 per month 3000 .

The improving economy , but also the permanent flow generated in the city 's financial sector , large corporations and diplomatic (UN and consulates ) is combined with limited space to push prices up .

The annual rise in Manhattan has been only 1.7 % through July, but at that level prices have taken a little break though, with only 1.28 % of empty homes on the island, apartment owners know that if a potential tenant rejects the price, then another will accept it.

" No apartments to teach. Everything is rented many customers who do not find anything " " Jiang Jinjin , a real estate agent Hecht Group, who added he has regrets . "

The increase in Brooklyn is even greater in the most demanding areas like Greenpoint , Williamsburg, Cobble Hill and Brooklyn Heights, after Park Slope and Carroll Gardens- feet very fashionable for several years - has long ceased to be accessible for the average citizen .

Jiang also drawn to Dumbo, a very trendy area of Brooklyn where some areas near the river are already more expensive than Manhattan, where a study can be rented for up to $ 3,000.

Brooklyn apartments considered luxury , which are those that are in the 10% more expensive, have an average rent of U.S. $ 6.007 , 8.8 % higher than a year ago , the study of Douglas Elliman .

People fleeing the island of Manhattan for the impossible free market prices can not be considered for subsidized public housing and is the origin of the meteoric rise of Brooklyn, but we must not dismiss the " fashion factor " , as this neighborhood is becoming in recent years the most dynamic area of ​​the city .

For example , rents in Park Slope rose 32 % between April 2011 and March 2012.

Sabado, Marso 29, 2014

In the U.S. home construction data was lower than expected

The beginning of construction of houses in the U.S. rose less than expected in August amid a sharp slowdown in the multifamily sector , according to data released Wednesday by the Commerce Department data.

However, a sharp rise in permits for single-family homes aimed at strengthening sustained recovery in the labor market.

The beginnings of home construction rose 0.9 % in August to a seasonally adjusted annual rate of 891,000 units. The early July were revised downward to show a rate of 883,000 units instead of the previously reported 896,000 .

The beginnings of multifamily dwellings fell 11.1 % to 263,000 units in August . The beginnings of single family homes, which are the largest segment of the market, rose 7.0 % to a rate of 628,000 units , the highest since February.

The drop in multifamily housing starts could be the result of a rise in mortgage rates , which could make developers are more cautious in undertaking new projects.

The largest mortgage rates have slowed the pace of home sales, but is expected to boost demand for new housing residential construction.

Mortgage rates have risen to expectations that the Federal Reserve reduced purchases of bonds 85,000 million hits monthly to keep rates low .

Economists believe the Fed will make an announcement on the future of the program after a meeting on Wednesday, two days.

Permits to build new homes fell 3.8 % in August, at a rate of 918,000 units. Analysts had expected permits, preceding the beginning of construction in at least a month , mostly not change at a rate of 950,000 units.

All the pressure came last month multifamily sector , where permits fell 15.7% . Permits for single-family home construction , meanwhile, rose 3 % , to its highest level since May 2008.

Overall, the early works in homes and apartments last August were 19% above the rate of August 2012.

Permits for buildings with at least five apartments fell 15.7 % , while permits for single-family homes rose 3 percent.

Huwebes, Marso 27, 2014

Miami Herald: Venezuelan underpin the property market in Miami

They had five years assessing whether to invest their savings outside of Venezuela , in Europe or in Florida. They were looking for an investment that will revalue over time, but above all, it is safe . 15 days ago signed the purchase of an apartment for about $ 300,000 in Miami Beach will also serve them as a holiday , and last week gave them the keys .

Buyers , Victoria, who does not want to be identified by his real name for fear of reprisals, and her husband, two young professionals are part of Venezuelans who have decided to invest in Miami and are a growing part of international buyers of residences in Miami.

Venezuelans have gone from being 16 percent of all buyers of properties in the areas of Miami and Miami Beach in the 12 months to June 2012, 20 percent in the 12 months leading up to July 2013 , according to a report prepared by the National Association of Realtors (NAR ) for the United States Association of Realtors Florida .

In addition , Venezuelans have moved from third to second place in the ranks of international buyers of properties in Florida , accounting for 7.6 percent of foreign purchases in the state. They are second only to Canadians ( who signed almost 30 percent of foreign property purchases in Florida ) and ahead of the Brazilians, who exceeded them in the report of 2012. The jump is due mainly to the percentage of property purchases among Brazilians fell from 9.3 to 6.5 percent.

The NAR report is based on a survey of 977 real estate agents in Florida.

"The number of Venezuelan buyers has definitely gone up. Venezuelans feel safer having their investments here , "said Aurace Rengifo , realtor in Ocean International Realty .

Security of investment was the main objective of Victoria and her husband to invest in Miami. They did not want to buy in Venezuela for fear that if they rent the property , the tenant has the right to buy it for a reduced or , if left empty, that the expropriation price.

" Perhaps you will be revalued in Venezuela 's percentage, because the supply is scarce. Here's more offer, but with all that the property is still revalued. It's a risk-benefit balance . One is more at risk in our countries but has more gain, " Victoria , who works in a multinational company said. Her husband has his own business in Venezuela .

Victoria and her husband are the prototype of the Venezuelan investor is buying in Miami , as described different estate agents : young professionals who often have their own business in Venezuela , which often have a partner or children and perhaps . Venezuelans who bought homes spent in Florida between July 2012 and July 2013 , mainly rent them for performance ( 38 percent of buyers as reported by NAR ) , as a holiday also would rent when I was busy (32 % ) and exclusively as a holiday ( 9%).

"Overall, the Venezuelan who invest now want to ensure that while not using the apartment can rent " confirmed Rengifo , who noted that some condo associations do not allow this practice.

"It's a mixture of the two uses , residential and investment," said Francisco Angulo , president-elect of residential property in the Realtors Association of Miami. "Many of these buyers will want to think of an alternative in case you have to come to the United States ," he added .

Although Victoria and her husband bought the apartment as an investment especially not think renting , but plan to spend their holidays there. They thought about investing in Spain , but there are still the crisis, while in the United States, property prices are already rising.

"In the U.S. , compared to every crisis, recover. They are prepared to recover, " Victoria said. He also bought in Miami Beach by weather and the beach.

62 percent of Venezuelans who bought a property in Florida , it was in the Miami and Miami Beach , according to the NAR report 2013. Next in popularity Fort Laudedale (9 % of buyers ) and the area of ​​Naples -Marco Island (6 %).

"Those who want to emigrate , are likely to residential places such as Weston, Doral and Kendall ," Angulo said. " Investors buy in Brickell, Downtown, Midtown, Doral and Aventura ." Other Miami Beach agents added to the list of preferred areas .

In addition to security for their investments , Venezuelan buyers also seek personal safety. "They like to buy buildings or communities with security, Doral, Weston, or condos with security at the door ," said Carlos Villanueva , regional manager Keyes Realtors. "The Venezuelan coming here mostly for the protection of their capital and personal protection ."

Also the price they paid for their apartment is about average . Nearly 60 percent of Venezuelans who bought some property in Florida paid between $ 100,000 and $ 400,000 , according to the report of the NRA . The price gives them to buy , especially apartments, condo buildings and townhouses . The majority - 78% - buy your apartment in cash, without resorting to a mortgage.

For Victoria, the decision to buy a condo was clear. "I wanted beach. I have other friends who bought in Kendall home and bought them because they wanted a house by the lake . For me the houses are unsafe , are more isolated . I like an apartment , you have a condo, maintenance costs are shared . And besides, if you're not going to live there , the houses will deteriorate further, " Victoria , having clear he wants to continue living in Venezuela said.

Miyerkules, Marso 26, 2014

Greater than expected drop in U.S. sales of new homes in February

Sales of new U.S. homes fell slightly more than expected in February, according to data released Tuesday by the Commerce Department.

The authorities recorded 440,000 transactions on an annualized basis and according to seasonally adjusted data, the lowest figure in five months. Analysts, meanwhile, expected a drop in sales to 445,000.

This number represents a decrease of 3.3% compared to January sales month that 455,000 transactions (revised down from 13,000 figure) were recorded.

Lunes, Marso 24, 2014

Latin driving the housing boom of Miami

The cranes have returned to make an appearance in this city, which became the emblem of the housing collapse that started the financial crisis of 2008 . This time , however , the rise in apartment construction is not driven by cheap credit from banks, but foreign investors , many Latin Americans.

Numerous and impressive condominium buildings were unoccupied for several years after the bursting of the housing bubble. The value of condominiums fell nearly 60 % from its peak to its lowest , according to the Realtors Association of Miami. Funding vanished for both buyers and developers .

Today, almost all units that were vacant were busy and demand exceeds supply . 118 have been proposed apartment towers to the Miami area , of which 35 are already under construction , says real estate consultancy Condo Vultures LLC .

The 41 buildings proposed for downtown Miami added 12,100 units , a figure well below the 22,200 units built between 2003 and 2008 , during the housing boom , but still a significant recovery if taken into account in the construction central area of ​​the city was virtually paralyzed until 2011. "This boom evokes the situation where we were a decade ago," says Peter Zalewski, principal of Condo Vultures .

Although growth can save like with bubble a few years ago, it remains a painful memory in Miami , developers emphasize that the strong international demand has created a new model of financing in cash , in his opinion , it is safer bank loans that fueled the previous boom . Normally buyers have to pay at least 50% before closing the business, which means that homeowners lose their money if they abandon the transaction.

Under the new payment system , urban developers rely more on deposits from buyers , and less debt to finance the construction , which , they say, puts projects on a more solid foundation . In addition , construction firms with less experience left out , since banks have become more strict about the initiatives they fund.

The developer Carlos Melo used this financing model 23 Biscayne Bay to build a 17-story tower which last year became the first building completed in the new cycle. Melo said that the project is fully sold and 90 % of owners bought units as investments and are renting . "They are looking to put their money in a safe place ," he adds .

About 85 % and 90 % of buyers of new apartments are foreigners , mostly from Latin America, estimated Alicia Cervera Lamadrid, managing partner of Cervera Real Estate , which manages 16 sales initiatives. " The payout structure separated the speculators who are well funded ," he says.

A study by the Association of Realtors Miami released in November estimated that between July 2012 and July 2013 , Venezuelans accounted for the largest group of foreign buyers of real estate in Miami, with 14 % of the total. Brazil and Argentina ranked second with 11 % each, while Colombians and Canadians were in third place with 8 % each.

Buyers say they are attracted by the increasingly cosmopolitan and cultural elements such as the Miami Art Museum Miami Museum Perez , who is preparing to open its doors on December 4.

Also consider these investments are safer than leaving your money in places where greater economic volatility reigns as Argentina and Venezuela .

The market for upscale condominiums in Miami has proven particularly vibrant and its development has been accompanied by the arrival of luxury shops in the Brickell financial district in the center , and the Design District to the north. Some of the projects have attracted star architects like Zaha Hadid and Bjarke Ingels .

Umberto Mascagni, an Italian 24 years old he moved to Miami three years ago to study international business , paid in August a deposit for a two bedroom apartment U.S. $ 700,000 in a tower proposal overlooking Biscayne Bay, but has not yet begun to build. He and his father started investing in real estate in Miami in 2008 and now have six additional condos they rent. "In the last two years , the market has been crazy ," said Mascagni , who says he is on the hunt for other investment opportunities , but " always with his eyes open , always with caution."

Biyernes, Marso 21, 2014

National Real Estate Fair: A national exhibition, but with a Global Village

These destinations cater to exotic investors looking to diversify their investments , and retirees who want to enjoy this part of their lives to live in warmer climates and at lower cost , in France .

Indeed, all these destinations appear much lower than those in France property prices. Throughout fact, the financial crisis has reduced the claims of vendors, including Florida State of USA 's most popular yet .

Another determining factor taxation. While real estate taxes are cutting into France returns the rental and away 30 years total exemption from capital gain on resale , countries like Mauritius and Portugal offer possibilities zero tax under certain conditions .

Professionals in these countries have understood the unique opportunity presented by the Fair to meet with candidates in the sun.

Mauritius and there is strength . If prices start at € 200,000 for a small apartment near the sea , under the RES , a house at the edge of the Indian Ocean easily reached the million and a half euros . But the proud owner does not pay tax on capital gains or inheritance tax.

Florida also attracts more and more French . The Miami real estate market has experienced strong growth in December 2013 with a strong increase in sales of houses and condos, according to data from 31,000 members of the Association of Realtors in Miami.

In Asia , the dream begins to € 250,000 for a villa with pool on the island of Kho Samui. And a little later in the Pacific , New Zealand attracts French investors. Very politically stable , the country enjoys a vibrant economy and attracting more and more investors worldwide.

Recall that the National Real Estate Fair is a special moment for all those planning a real estate purchase.

Developers, builders , realtors, property managers , major professional organizations (Federation of real estate developers, Fnaim , Union of French houses ... ) , bankers , lawyers, management consulting heritage ... all professionals who make up the real estate landscape have indeed, answered present at this event.

Martes, Marso 11, 2014

Venezuelans leading Internet search homes in Miami

Next in the list Argentina , according to figures from the Association of Real Estate Floridad

Venezuelans ranked first last September in Internet search residential real estate market in Miami (USA ) , largely due to the " political and economic instability " in the South American country, said today the Association of Real Estate in the city of Florida , says the portal Latest News .

"Venezuelans have become the most searched in the revitalized Miami real estate sector " and accounted for 22 % of international sales that took place between July 2012 and July 2013, said Lynda Fernandez, vice president of the association.

After Venezuelans , the largest number of purchases in the Miami real estate market were made ​​by Argentines ( 11%), Brazilians ( 10%), Peru ( 9%) and Canadians and Colombians, both with 6% during the period 2012 -2013 .

In total, accounted for 114,338 visits last month Venezuelans to the website of the Miami Association of Realtors, 47% more than the same period of 2012 , Fernandez said.

Fernandez attributed the interest in property search in Miami for Venezuelans to the unstable situation in the country , and the strong increase in demand in this sector.

As for international visits to the website of Miami Association of Realtors , Canadians ranked second , followed by Colombians , Brazilians, Argentines, Lithuanian , French , Italian, Spanish and Filipino .

But the Miami real estate market is also very attractive to residents of other U.S. states .

Last September, consumers in California, Texas , New York , Georgia , Illinois and North Carolina, in that order, were the most frequently visiting the website of the Association of Real Estate in Miami

Venezuelans leading Latino real estate investing in Miami

Latin Americans have a love affair with Miami, but judging by what you see in the real estate market , this relationship has rarely been so intense .

Venezuela , Brazil and other Latin American countries rich have contributed decisively to the recovery of the real estate market in Miami, which became a symbol of the housing crisis in the U.S. way .

It is a trend that reflects the strong economic growth in Latin America, a region that resisted quite well to the global financial crisis.

Encouraged by these external buyers, real estate developers in Miami are launching new projects , but Florida remains one of the U.S. states most affected by the housing crisis . For this reason , Miami has become a favorite destination for international buyers .

"Latin America has helped breathe new life into our market," said Jorge Perez, president of Related Group , a leading real estate in South Florida developer.

The tendency to Venezuelans who, like many Latin American traditionally seen in Miami real estate investing as a safe haven against economic and political volatility in the region is heading.

According to the Association of Realtors in Miami , Venezuelans were the main foreign buyers in 2013 , accounting for 15 % of all sales to people outside the U.S. . Brazilians and Argentines came shortly after this ranking.

Last year , sales of residential properties in Greater Miami had a record of 46 % compared to 2012 , according to the association . In condos , the prices finally picked up again in the second half of last year , and in December , the owners of houses also had their first recovery from the recession .

Many Venezuelans say they prefer to buy in Miami because they believe there are fewer business opportunities in your country, and believe the government of Hugo Chavez called socialist is stifling the local housing market .

" Chavez is the effect," said the Venezuelan Puzzi Cleto , who sold an apartment he had bought in Spain and two in Miami , now rented. " You can not invest in Venezuela today . "

For other South American countries , the main attraction of Miami are the lowest prices in relation to property in their home countries .

A recent report by property RelatedISG , Miami, showed that prices of apartments and homes closed in downtown Miami neighborhoods are below the new buildings in cities such as Rio de Janeiro , Sao Paulo , Buenos Aires and Bogota.

In downtown Miami , said the report, the average price per square foot is $ 4,300 while this value reaches $ 10,750 in Rio Paulo , Sao at $ 9675 and $ 5375 in Buenos Aires.

Lunes, Marso 10, 2014

Immobilier en Floride : Evolution du marché

Florida Real Estate : To stabilize Price?

For ten months, they could afford , candidates for the acquisition of a house had every interest in not rushing the United States . Prices kept falling in effect . But last March, the real estate market in Florida is returned. According to the Florida board of Realtor , the average price of single-family homes in Florida rose 1 % compared to the previous month if we do not take into account seasonal variations.

In one year the real estate prices in Florida have fallen further to 4.5%.

This increase in raw data were already perceptible in February. But , according to this composite index, home prices in Florida are for the first time in almost a year remained stable seasonally adjusted data.

Analysts are they surprised by this recovery? Not really. It had been anticipated . Foreign demand is very strong in Florida, investment or pleasure, the property prices in Florida during the Dollar and promotes the entry of foreign capital. Miami , Orlando, Tampa attracting more and more buyers Europeans and Canadians on a still devastated by the subprime market crisis .

Stocks of real estate property in Florida have declined since 2009, but the foreclosure gate has Stope the majority of seizures since late 2010 . There is still a few years to invest in real estate in Florida.

USA: The Real Estate foreclosures decreased on a year.

The number of procedures for foreclosures in the U.S. rose slightly from the previous month, but fell sharply in annual comparison, according to the consulting firm RealtyTrac.

A total of 222,740 homes have been a seizure in June (notice of default, auctions, bank repossessions), nearly 4% more than the previous month but 29% less a year earlier. According to Realty Trac, it is the ninth consecutive month of annual decline in the number of procedures foreclosures Usa.

Sabado, Marso 8, 2014

Tax Evasion: no, big fortunes do not come in France

Government and Bercy in particular do not stop trumpeting the return of Swiss tax exiles . The figures are certainly good but this return does not prevent new leave to get away from French surfiscalité .

According to specialist lawyers , since the beginning of last year we treat one hundred large files per week . It is higher than those who are supposed to return sums ten times . Bercy boasts of a phenomenon that was not alarming and is silent on the departures , they are markers of real concern.

Depending on the services of the Department of Budget (Bernard Cazeneuve ) , requests for adjustments in accordance with procedures applicable since June were a big hit . The tax administration would have seen back 15 813 taxpayers with undeclared foreign account. These returns have already reported 230 million euros , all cases under investigation are 2.4 billion of assets. On 2014, the budget has programmed a tax refund of € 1 billion .

Between those who think and those who accept return back , there is a significant margin

And of course the success of this operation is related to the effort of the State which has reduced to 15% penalty rate for tax liabilities fraudsters and 30 % for assets fraudsters. So this is not an amnesty, but it looks like him. When viewed under the microscope , this report is discouraging. Even sad .

The return of capital illegally invested abroad is due to this pseudo tax amnesty but also because Swiss banks have committed to be transparent. So they warned their customers that they were asked to move their little treasures . And where to go ?

All Destinations are distant and insecure . Bercy skillfully plays on the confusion between taxpayers illegally Exiles ( over 15,000 ) and who inquired , and those who actually initiated arbitration proceedings ( 2631 cases) and finally those who were treated and have therefore paid their fines , (241 files). Between those who think and those who accept return back , there is a significant margin.

Those who return , really are not super rich

Those who return , really are not super rich. The filings today relate to amounts of less than EUR 100 000 . A joke do you ? EUR 100,000 , enough to buy a car in Paris. No more. To whom belong to " the enormous fortunes "? Primarily to French who live in France and have inherited an account on which parents or relations had left their tails inheritance . It is obvious that these heirs have jumped at the opportunity to repatriate this money without penalty.

To make it legal to launder kind of money that at first was probably not very clean. Assets that were not, because of their unscrupulous ancestors. Large fortunes they do not fit . But beyond this fraud big fortunes illegally placed in Switzerland and can go as well in Qatar or Dubai , which one does not speak, it is the existence of a totally legal exile accelerated past year.

Large fortunes that require a move to Geneva, Brussels and Luxembourg are becoming more numerous. Bercy does not give these figures. Taxpayers fleeing inheritance and ISF. There are bosses who sell their business to retire , are the heirs of large groups that do not have the benefit of the exemption , it also has patterns of investment funds . All those who have invested their fortune in start -up but does not manage all owners of hyper- market let go . S

Not to mention, and this is news, Peugeot , now they are ousted from the company will obviously go into hiding to avoid the ISF ... and join their cousins ​​on the other side of the Swiss border. All this begins to be interesting escape from € 10 million fortune . This is the price of a building in Paris or a very big business , or even a small business .

The preferred destination of French pensioners

They are between 5 000 and 10 000 be in this case , carriers have to the amount of £ 5 to 10 billion euros. They legally with Bercy negotiated exile. For information, € 10 million fortune, is a minimum of 150 000 euros EWB . Not negligible these days . But that 's not all : there has finally ants who want to avoid the income tax , and ... heating costs .

The French middle class has no other fortune than a secondary residence and a comfortable retirement ( between 5000 and 10 000 euros per month ) the French middle class goes today reside legally in paradise tax specially designed for them.

In the trifecta of the favorite destinations of French pensioners : - Portugal exiting the crisis thanks to the influx of capital. Last year , Portugal would have earned 2 billion euros. - Morocco , but it is not new . - Florida and Mauritius ... but it's a bit far.

French pensioners who are easy to evade taxes , also have small children they want to see often enough. These destinations attract wealthier middle class . That said, all these countries have the same benefits. They are bathed by the sun, with a chic and cheap because of the crisis that crushed real estate prices . And cheap services. A couple of retired officials who struggled to finish the month at Paris live like a mogul in Lisbon or Agadir. This exile here is perfectly legal. Bercy will not oppose it.

So it is not for sale . He prefers happy to meet anyone who had " bad luck " to have a little thug ancestor who had stashed money in Switzerland and seeks to recover today. So rather than bring cash in small amounts when they return from winter sports, the heirs prefer to pay the tax and be all . The fee is cheaper than the TGV. But to say they mark the return of confidence in the virtues of the French model , should not be exaggerated .

Biyernes, Marso 7, 2014

The real estate in the United States is it worth it?

▪ Do you have enough equity , you do not trust obligations: what then ?

The course stone! Terra firma !

Certainly , real estate has problems . Pipes dripping and leaking windows are examples . But at least we can understand . You can see with his own eyes . We also saw a lot last weekend when we visited a well located two blocks from our office in Baltimore - a building of 13 apartments offered at auction .

There a few years ago , there would have been one or two people during the visit . Last week there were at least 15, maybe more . We found that we knew some of them ... experienced real estate investors in the Baltimore area . Others were new . A couple came to India. A man who spoke little English , was Chinese .

How Baltimore apartments that almost all the slums they attract global investors ? We do not know . Perhaps this is the proximity of the Johns Hopkins University or Peabody Conservatory of Music . Maybe investors are just looking for a better deal than what they can find in big cities .

▪ Brand watches Brand cities ...
There are some years we coined the term " city brand " . The idea was simple. More and more people are unattached ... especially rich people . Often they are in semi- retirement, manage their businesses or investments by telephone and internet . They can live wherever they want.

These people - many of them being "new rich" - leading auto brands , wear clothes and branded watches. It seems reasonable to assume they would also live in the cities of brand - those that attract the international elite . Then, in the chic cocktails, they just say to live in London or New York , and so have something in common with many other guests . If they do not have an apartment , they know someone who has one.

At the top of the list of cities are brand London , Hong Kong and Singapore. Paris , New York , Vancouver and many other tailgating .

In Paris, almost all expensive apartments changing hands are bought by foreigners. Central London is just about the same thing. Little "local" can afford to live in the most exclusive areas. Foreign buyers bid up the price and change the atmosphere of the neighborhood.

We lived in a building in London, for example, where almost all of our neighbors were Russian, Japanese, Chinese or Brazilian . Insofar as most owners had other homes, sometimes more , the building was as quiet as a library. We rarely crossed paths people .

Baltimore , however , has yet to make his place in the category of " cities " brand . Nobody buys real estate in Baltimore for reasons of prestige. Nobody boasts of having " a little pied a terre " in Baltimore. Prices reflect this fact .

Here , investors have a sharp pen and little tolerance for large expenditures. The building that I visited last week had been "improved" by previous owners ... very roughly . Woodwork that have been dismantled and repaired had been redone with putty and painted. Pipes that have been replaced remained in place along the walls and ceilings. Scaffolding raw wood stairs maintained to prevent them from falling. Imitation parquet linoleum covered the floor .

▪ Should we invest ?
A real estate professional has given us some explanation : " Prices have risen dramatically So be careful There is a lot of money that comes owners will have to compete for tenants This will put margins. . . . under pressure " .

"Does that mean it's not a good place to invest ? " we asked .

" Well , I do not think we 'll see the kind of performance found it a few years ago . Were obtained between 10 % and 12% on certain projects. Were invested one million dollars, and the annual net yield was 100,000 $ . at present , prices are on the rise. property rates too. so that we can get a rate of 7% , maybe ... or 6%. this is not great, but n ' is not awful. And this is better than playing the stock market . "

Meanwhile, another pro real estate in Florida this time , we explained what appears to be even more advantageous :

"I can not find good deals on the most traded markets," he said. " But there is still money to be made if one is willing to go a little further and work a little harder. I have an eye on a building with 55 apartments . I think I can get it for approximately $ 1.8 million . the total budget, including closing costs , work and reserves could amount to approximately $ 2.2 million . We do the work . We find good tenants . then we probably go seek refinancing Fannie Mae - . probably what we would restore between 60% and 75% of our capital there was an almost guaranteed return of 7.5% ... probably a little more. "

Why buy a house in 2014 is a good idea

Real estate remains a profitable investment

For many Belgians , buying a home remains a safe investment. The current low interest rates make borrowing particularly cheap , while many subsidies promote energy efficient homes . In addition, a portion of the mortgage is tax deductible.

Claim ownership today is therefore not a foolish investment. But this may not last forever : interest rates begin to rise , while subsidies are declining and that the tax deduction will be abolished from 1 January 2015. In other words , who wants to buy a house should ideally do so in 2014.

In 2015, the end of the tax deduction : it is better to buy a house in 2014
End of 2014 , mortgages spend federal regional . The system of tax deduction is very expensive, it would likely disappear from 1 January 2015. So who buys, builds or renovates from 2015 will no longer qualify for a partial tax deductibility of interest . Deductibles are sometimes quite high, it can deal a severe blow to your projects.

If this system is not extended by the Walloon and Brussels regions, however, remain valid for buyers who entered into a mortgage this year and next year. And until the loan is fully repaid , of course. From 1 January 2015 , the regions should provide a new type of compensation , which remains to be defined. It was not until the second half of 2014 to be attached to this issue. One thing is certain : this amount will be much lower , so that build or buy a home will become even more difficult in 2015. However, buying a house in 2014 knows the exact amount that will be deductible for tax purposes.

Take advantage of low interest rates

Economic fluctuations will , they also make life difficult for potential buyers . Low interest rates make borrowing very cheap, certainly, but experts predict a rise in interest rates in the coming months. If you want to buy a house, so better use low interest rates to your advantage.

Lunes, Marso 3, 2014

Miami is still dreaming the French

 Miami won the French households. After their American counterparts, they are the ones who have the most accessed April website to buy. The presence of real estate professionals in Florida National Exhibition French property held in Paris in April there is not foreign, according to the website. "The participation of the association (Realtors Miami ed) at international conferences such as the National Real Estate Fair was a great way to attract new buyers and foreign investors to the Miami real estate market" .

But if the French are so enticed by the "Magic City" in Florida, but also because it is now very cheap for its standard. Properties therein therefore are likely to be valued in the coming years, thus giving the opportunity to the owners to make gains in a short time. Which is not the case in France, where housing prices reach in some places, ceilings.

"Miami remains a real wise investment because the price per square meter is 2-3 times lower than cities such as New York or Paris and generally lower than that of French cities like Bordeaux, Marseille and Toulouse, 3000 euros per square meter for quality goods and 5-6 000 for premium goods, "stated there a few weeks the real estate specialist, Luxury Alexandra Dupont.

It should actually go back to 2007 to understand why property prices in Miami are also attractive. The subprime crisis has harshly affected Florida and prices there have been a precipitous decline. A catch-up effect is exerted since. According to local real estate professionals, there are still two years before prices return to their pre-crisis level. This means that time is running out for potential buyers.

Biyernes, Pebrero 28, 2014

Real estate prices in Miami. What will happen?

The property prices in Miami fell , then during the last year have risen. Now what will happen, will fall or rise ?

In recent months have reported an increase of between 15 and 20 % in the rates

Miami properties when compared with the same period last year. According to the report of Douglas Elliman properties located on the coast have increased 20.9 % in the second quarter of this year and when you factor in all villas Miami prices gained an average of 17.7 % over the same quarter the previous year.

Prices remain upwards due to reduced inventory of properties . The reason that the inventory is decreased due to lower sales of properties in bank gets , that because of the scandal known as robo- signing scandal that virtually froze sales of properties at auction . This happened in late 2010 when banks were apparently not complying with regulations when finished off a property at all sales in banking gets interrupted and have reviewed and amended procedures. In the past, the sale of properties in bank gets represented a high proportion of total sales ( 60 % last year vs. 40% this year ) and that part of the reduced inventory , who are selling now are owners who purchased their properties before the housing bubble, those who recently bought property in bank auction and those who can afford to sell at loss .

I predict now that most of the experts is that the banks will begin to reduce its inventory of properties (those who have mortgages on their books but have not executed to take the real estate ) and that could push prices back towards low. I can not say with certainty that prices will not go down but I anticipate that , with all other variables being equal , the prices in the real estate market in South Florida do not come down substantially when the banks put on the market their properties.

My observations come from being constantly on the street :

When you visit condo managers you realize that apartment owners with delinquent accounts with condominium associations have declined substantially . Usually owners who do not pay their bank loan not pay the maintenance fee of the building. Even some associations have been able to reduce their maintenance fees that have improved the collection .

Although there have been fewer bank shots , banks have improved their process of " short sales " ( selling short - the bank or the lender allows the property is sold for a lesser amount than is owed ​​on the mortgage assuming a loss on the loan ) which has helped to remove some of the inventory that the bank needs to resume .

Once these properties enter the market at auction sale will be quickly absorbed because there is enough pent-up demand from buyers.

My biggest concern is given to the possible impact that may have on prices in the next two years due to sales that are currently doing projects in pre - construction. I recognize that most of these projects are demanding between 30 and 70 % deposit from buyers before the building is completed. However, between 2014 and 2015 there will be a lot of condos / apartments available on the market again.

Miyerkules, Pebrero 26, 2014

Florida Real Estate: the market becomes a little less favorable to Canadians

The holiday is perhaps not yet complete, but Canadians wishing to purchase a property in Florida to take refuge in the winter should begin to monitor signs .
Two distinct trends over the past year had the effect of diminishing the purchasing power of Canadians in this American state for the first time since the recession : the decline of the one part , ten percent of the loon on the U.S. dollar and rising , on the other hand, about ten per cent on the price of homes in the United States.

Bargains are always possible in Florida , since the real estate market has not yet fully recovered from the stock market crash of 2008. There remains potential buyers should expect a much more competitive than in recent years market.

And data from the 2013 National Association of Realtors in the United States demonstrated . Home sales rose 9.1 percent, the best performance since 2006, while the median price of properties increased 11.5 percent, the largest increase since 2005.

At the same time , acquisitions of houses by foreigners fell last year . Figures for international transactions are not yet available but already in March 2013, the total sales stood at U.S. $ 68.2 billion, down from U.S. $ 82.5 billion recorded in 2012.

Canadians make up a quarter of foreigners buying properties in the United States . And Florida is a destination of choice, with 39 percent of transactions being performed therein . Arizona ranks second with 24 percent , followed by California, Hawaii and Texas.

An economist also said that trends this year would have consequences , albeit limited .

Statistics analyzed by TD Bank for The Canadian Press suggests that the decline in the Canadian dollar ten cents is not a mean annual decrease of 250,000 Canadian tourists in Florida. But the rapid growth of Canadian tourism in the state was so high that even a reduction will result in growth, however, will be more modest than in previous years developed.

In 2010, the number of Canadians in Florida rose 12 percent , followed by six percent (2011 ), six percent (2012 ) and three percent in 2013. TD Bank expects this year an increase of approximately two percent.

"I think that growth is slowing , but I do not think that spending and the presence of Canadians in the real estate market will decline to levels observed there five or ten years before the recession," said Vice President and Deputy Chief Economist, TD Bank , Derek Burleton.

Martes, Pebrero 25, 2014

Five Property Investment Opportunity in Miami

Miami is again among the top ten cities in the world preferred by the rich to invest. The city of Florida ranked eighth of The Wealth Report ranking after London , New York , Singapore, Hong Kong , Geneva , Shanghai and Dubai.

According to the latest report by Knight Frank , real estate market prime Miami regains the interest of the great fortunes after overcoming a deep crisis. Here are five exclusive property for sale in the best locations of the city. Designed by international architect John Pawson, Knight Frank sells these 26 uniquely designed homes . We found properties from 85 to 427 m2 , and 1 to 4 bedrooms in this exclusive building located at 2901 Collins Avenue in South Beach. Every detail of the housing is about creating continuity between the interior life and terrace space .

The level of finish is second to none with Bulthaup kitchens and each residence has a touch of personal design . Find apartments plus two exclusive penthouses with pool. Designed by Fosters & Partners study , this building is designed to integrate indoor and outdoor space through spectacular fully transparent sliding doors that allow a width of up to 12 m , enabling visual integration with the sea. Knight Frank sells these properties from 1 to 5 bedrooms, from 120-439 m2, there are three spectacular story penthouses and private pool. The building boasts spa services , gym and a private beach club and pool.

From 1080700-7320000 € apartments and penthouses 2-4 bedrooms available in this building marketed by Knight Frank , from 160 to 690 m2 . The residences offer luxury finishes and spacious balconies with panoramic sea views. The owners enjoy the exclusive services of The Ritz -Carlton and a private beach access . The building has two swimming pools , a restaurant next to it , fitness center , screening room , a movie theater, social room with catering kitchen and billiards , as well as a meeting .

Property 350 m2 in the prestigious St. Regis resort in 9701 Collins Avenue Bal Harbour. It has 3 bedrooms and bathrooms and terraces with sea views. The owners will enjoy all the amenities of five star luxury resort , a hotel safe, clean and exclusive pools , spa and gym. The interior has marble floors and is offered furnished by the prestigious Studio sells G. Engel & Völkers .

Housing of 573 m2, with five bedrooms, five bathrooms and stunning sea views. This custom home features a large living room flooded with sunlight through a sliding glass and imported stone fireplace . All luxury amenities , bar and outdoor Jacuzzi on one of the terraces . A Fisher Island is accessed by boat or helicopter. With the Atlantic Ocean to the east and South Miami Beach to the north, the island offers every comfort: private beach , golf course , spa and even a planetarium. It is sold furnished by the real estate Knight Frank .