High Estates

Global Property Guide, a real estate research firm, recently issued a report ranking the most expensive flats in Europe. Currently, property value is on the rise throughout much of Europe, and real estate in locations such as the Baltic region are seeing an increase in value. Rental yields (profit yields) in several European cities are above 10%. The extremely small and distinguished principality of Monaco currently wears the crown for most expensive real estate in the Europe.

Monaco has an average price of €24,900 per sq meter, making the principality the most expensive real estate in Europe, but profit yields are low at 2.4%. A 35 sq. meter apartment of this expensive real estate yields an average return of 2.12%, while a 195 sq. meter apartment yields an average return of 2.64%.

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The bar for luxury residential real estate in Hong Kong, already one of the most expensive areas in the world, has been raised.

The Peak, at 1,811 feet above sea level, is the highest point on Hong Kong Island and has symbolized prominence and wealth since the 19th century. Formally known as Victoria Peak, it towers above the heart of the city and has spectacular, 360-degree views of all of the surrounding islands. To live there signifies a status level for which captains of industry from around the world are willing to pay top dollar.

Last month, The Peak exceeded its own lavish reputation, with local headlines claiming it is the site of the most expensive residential piece of land in the world. The government land auction of 12 Mount Kellett Road fetched $231 million from Sun Hung Kai Properties — 134 percent of the opening bid and a projected $5,417 per square foot.

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www.jachomes.com

Both modular and manufactured homes are built in the factory but modular homes have more advantages.

Manufactured homes are also called mobile homes, and are built only to HUD, or federal building code. They are not required to meet code requirements in the specific destination where the homes will be erected. Also, it is not required for the inspectors to approve the structure.

Modular homes on the other hand, have to pass a stricter set of guidelines. It is held to the same IRC code requirements as site built homes, and must adhere to the local and state codes. It will therefore appreciate better as investments.

www.nahb.org

Seasoned and successful investors know the importance of acting very fast when they have identified a good deal. It is their common practice to sign a contract already even before viewing the property. Because of this quick action, it will allow these investors to take advantage of good deal opportunities right away.

While newbie investors and skeptics will view this action as reckless, it is important to understand that the contract will still give the investor enough time to perform the essential due diligence to look at the property because the contract should have an option to walk away when problems are found.

www.destination360.com

The single largest purchase that you can make in your life is to buy a home. But in the housing market of today, the price of a home is often times exorbitant and so first time homebuyers are considering owning a condo instead.

A condo is not only purchased by young people or first time homebuyers. In fact, many seniors find that maintaining a big empty home may be too much for them because they can no longer perform and maintain the day-to-day work in their home. Another group of people that are willing to buy condos are working people that are always busy. They have no time for maintenance so they would rather pay the association dues.

Home renovations are very flexible but before you can even hammer a single nail, you’re going to need money to pay for it.

You can turn to cash and liquid assets to fund your home renovation – your savings and checking accounts, as well as saving bonds. This way you don’t have to deal with interest rates, extra charges, nor do you have to be dependent on anyone else. On the downside, this could deplete your savings. This option is only good if you have lots of cash to spare.

If you’re doing a specific project, you can take out a home equity loan. This is ideal for large projects like additional rooms, and it offers lower interest rates than credit cards or personal loans. However, if you deplete your equity, the sum you receive when you eventually sell your house will be significantly lower. Also, the large amount you will receive might tempt you to buy things that are not part of the renovation project.

There are a lot of advantages to buying a condominium unit, the main one being that you don’t need to worry about maintenance of the property. When you buy a condo, you will be charged a monthly fee that goes to the condominium association. This fee is different from the one you pay for your mortgage. Every condo owner has to pay association dues. While it might seem like an unnecessary fee at first, these are used to cover all types of maintenance the building might need. For instance, if the roof needs to be replaced, the condo owners don’t need to shoulder the expenses. The association fees also cover upkeep of the property, the salary of the maintenance crew, and the maintenance of the amenities like the swimming pool.

There is a lot of talk regarding the slow pace at which appraisals are now being done, the figures they are also giving are way too low. Much to the dislike of the many real estate agents and sellers alike. The process of appraising a home tends to come as part of the buying process where a buyer or the agent acting on behalf of the buyer, contacts an authorized appraisal representative who is hired to make an estimation of the true value of a specific property. They are licensed to carry out their jobs at par with industry standards yet realtors disprove of their results which they say are way lower than the true value of properties they are selling. There is a lot of controversy as to the figures they are using in their estimation and calls for a revamp of these very tables are called for by the many realtors out in the ailing housing market.

All over the US, luxury homes and even ones owned by the rich and famous are going on the auction block, victims of their lavish design and cost, foreclosed due to unpaid mortgages. Some are simply sold off due to their high maintenance costs and some even to trim down on one’s expenses. They might be luxurious but their prices are falling as the rest of the housing market has seen in the past months. Luxury mansions, abandoned and left for foreclosure can be a challenge for their respective lenders, for the cash they may get in may not be what they placed in when it was bought. They also run the risk of having to settle for a long wait for there aren;t many buyers of such lavish homes today.

Pool covers serve not only for the protection of children but they can also be a great water saver, preventing water from evaporating especially during warm weather. Newer types make use of heat retaining materials that captures heat, retaining it in the water keeping the temperature just right. More greening can be added by swapping that gas or electric pool heater with solar ones that gives you free heat from the sun in conjunction with your pool cover. Read the rest of this entry »